Credicorp

The story begins not in 1995 with a holding company, but over a century earlier, in 1889. A group of Italian merchants in Lima, Peru, led by José Alberto Larco, founded a bank to serve their community. They called it Banco Italiano. Starting with just five employees in a rented office, the bank established a foundation that would grow into Peru's largest financial institution. A pivotal moment arrived in 1942 when the bank was acquired by the Romero family and renamed Banco de Crédito del Perú (BCP), reflecting a stronger national identity. This set the stage for decades of growth. Fast forward to 1995, a year of significant transformation. The owners of BCP made a strategic decision to create a modern holding structure that could access international capital markets. They formed Credicorp Ltd., a holding company that consolidated BCP along with Atlantic Security Holding Corporation and Pacífico Seguros. This new structure led to a major milestone: in October 1995, Credicorp listed on the New York Stock Exchange. This IPO provided the fuel for diversification and regional expansion. Credicorp methodically built out four key business lines: universal banking, insurance and pensions, microfinance, and investment banking. Today, Credicorp stands as a dominant financial services holding company in Peru with a significant presence in neighboring Latin American countries, a journey that started in a small office serving a local community.