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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Credicorp Ltd | NYSE:BAP | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
3.92 | 2.38% | 168.64 | 169.87 | 165.66 | 165.87 | 212,933 | 01:00:00 |
Lima, PERU, August 7th, 2017 - As per the Press Release made on March 31st, 2017, Credicorp's management provides to shareholders up-to-date information about the effects of El Nino phenomenon ("FEN" by its Spanish initials).
The assessment of the FEN's effect on Credicorp's businesses indicates that:
A.1 Impact on Grupo Pacífico (PGA)
The impact on the insurance business was according to the initial estimates provided in the press release, and it amounted to approximately S/ 22 million. This was due to caps on maximum losses included in the reinsurance and catastrophic policies.
A.2 Impact on BCP and Mibanco
Finally, it is important to mention that, as we have done in the last quarters, Credicorp will continue to inform about the impact of FEN in the Quarterly Earnings Releases, as long as it is relevant.
The information in this Press Release contains "forward-looking statements," which are statements related to future, not past, events. Forward-looking statements discuss our expected future business and financial performance and financial condition, and contain words such as "anticipate," "believe," "could", "estimate," "expect," "forecast," "indicate," "intend," "plan," "see," "seek," "will," or "would". Forward-looking statements, by their nature, address matters that are uncertain, including our discussion of the potential impact of FEN on our businesses, our clients and our financial condition. There are many uncertainties that could cause the actual impact on our businesses, our clients and our financial condition to be materially different than those expressed in these forward-looking statements, including those expressed above and the other factors that are described in "Risk Factors" in our Annual Report on Form 20-F for the year ended December 31, 2015. These or other uncertainties may cause our actual future results to be materially different than those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements.
About Credicorp
Credicorp Ltd. (NYSE: BAP) is the leading financial holding company in Peru. It is composed of Banco de Credito del Peru (BCP), Atlantic Security Holding Corporation (ASHC), Grupo Pacifico Seguros, Prima AFP, and Credicorp Capital, which are among Peru's top-rated brands. Credicorp 's primary businesses are banking (commercial & investment banking and retail banking, including SME and micro-lending); insurance (including property and casualty, life and health insurance); pension funds (private pension fund management services); and brokerage services (including trust, custody and securitization services, asset management and proprietary trading and investment).
For further information please contact the IR team:
IRCredicorp@bcp.com.pe
Investor Relations
Credicorp Ltd.
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