Credicorp Ltd. Form 6-K Summary
Business Context and Reporting Period
This Form 6-K, dated January 13, 2017, reports a material event for Credicorp Ltd., a Bermuda-based financial holding company. The filing details an internal corporate reorganization involving the transfer of shares in its Peruvian subsidiary, Banco de Credito del Perú (BCP).
Key Financial Metrics
The filing does not provide standard financial performance metrics such as revenue, profit, cash flow, margins, or debt levels. The only financial figure disclosed relates to the specific transaction:
- Total Transaction Value: S/3,505,916,484.50 (Peruvian Soles) for the transfer of 635,971,179 BCP shares.
- Shares Transferred in this Event: 97,971,179 shares (1.39% of BCP share capital).
- Total Shares Transferred in Reorganization: 635,971,179 shares (9.00% of BCP share capital).
Material Changes
The primary change is the movement of BCP share ownership from Credicorp Ltd. to its subsidiary, Grupo Crédito S.A. (GC). This transaction concludes a broader transfer of 9.00% of BCP's share capital. The filing explicitly states that this is an internal reorganization and does not result in any change of control, as Credicorp, through GC, continues to own 97.69% of BCP.
Outlook, Risks, and Management Commentary
Management characterizes the event as a structural reorganization within the Credicorp group. There is no forward-looking guidance, risk disclosure, or commentary on unusual items provided in this specific filing. The transaction was previously announced to the market on January 11, 2017.
Key Facts for Investor Verification
- Verify the continued 97.69% ownership stake of Credicorp in BCP via Grupo Crédito S.A.
- Confirm the total consideration paid of S/3,505,916,484.50 for the 9.00% stake transfer.
- Ensure no change in control of BCP has occurred despite the internal share transfer.
- Note that this filing contains no financial performance data for the reporting period.