Credicorp’s Board of Directors postpones decision on dividend payment
On February 25, 2021, Credicorp (NYSE: BAP) announced the postponement of its dividend decision for the financial year 2020. This move comes amidst ongoing uncertainties related to the pandemic, despite signs of economic recovery in its operating countries. The Board emphasized that future decisions on dividends will be contingent on the company's solvency, liquidity, and growth prospects, as well as the ongoing vaccination rollout and easing of lockdowns. Credicorp's capital ratios remain strong and above internal minimums as it aims to enhance its capital base.
- Capital ratios remain adequate and above internal minimums.
- Company expects to rebuild profitability and strengthen capital base.
- Dividend payment decision postponed due to uncertainties regarding pandemic recovery.
- Future dividend payments contingent on economic conditions and recovery pace.
Lima, Feb. 26, 2021 (GLOBE NEWSWIRE) -- Credicorp (NYSE: BAP) announces to its
shareholders and the market that the Board of Directors, in its session held on February
25th, 2021 decided to postpone the decision on dividend payment for the financial year
2020.
The Board came to this determination after a thorough assessment indicated that
uncertainty still prevails, particularly with regard to the evolution of the pandemic.
Although the economic indicators in our operating countries have shown clear signs of
recovery since the second semester of 2020, the Board believes that the path upward
depends greatly on the speed of immunization roll out, and on the easing of the lockdown
measures.
Once the outlook is clearer, the Board will decide whether a dividend payment is in order,
based on the company´s solvency, liquidity and prospects for growth. Credicorp’s capital
ratios remain adequate and above our internal minimum, and as we continue to rebuild
our profitability, we expect to further strengthen our capital base.
About Credicorp
Credicorp Ltd. (NYSE: BAP) is the leading financial services holding company in Peru
with presence in Chile, Colombia and Bolivia. Credicorp has a diversified business
portfolio organized into four lines of business: Universal Banking, through Banco de
Credito del Peru – BCP and Banco de Credito de Bolivia; Microfinance, through Mibanco
in Peru and Colombia; Insurance & Pension Funds, through Grupo Pacifico and Prima
AFP; and Investment Banking & Wealth Management, through Credicorp Capital, Wealth
Management at BCP and Atlantic Security Bank.
For further information please contact the IR team:
investorrelations@credicorpperu.com.pe
Investor Relations
Credicorp Ltd.
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