Credicorp Ltd. Form 6-K Summary
Business Context and Reporting Period
This Form 6-K, filed on April 2, 2012, reports a material event for Credicorp Ltd., a Bermuda-based foreign private issuer. The filing documents resolutions passed at the Annual Shareholders' Meeting held on March 30, 2012, in compliance with Peruvian capital markets regulations (CONASEV).
Key Financial Metrics
The filing text does not provide specific revenue, profit, cash flow, margin, debt, or liquidity figures. It confirms that the audited consolidated financial statements for the year ended December 31, 2011, were approved by shareholders. The independent auditors for this period were Medina, Zaldivar, Paredes y Asociados (Ernst & Young Global).
Material Changes and Corporate Actions
- Board Remuneration: Shareholders approved an annual remuneration of US$ 100,000 for each Board of Directors member not receiving compensation from a Credicorp subsidiary.
- Audit Committee Compensation: An annual remuneration of US$ 40,000 was approved for Directors or advisors serving on the Audit Committee.
- Auditor Appointment: Medina, Zaldívar, Paredes y Asociados was re-designated as the external auditor for the 2012 financial year. The Board of Directors was delegated authority to approve the auditor's annual fees.
Guidance, Outlook, and Risks
The filing contains no management commentary, financial guidance, outlook, or discussion of risks and contingencies. The document is strictly a notification of shareholder meeting approvals.
Key Facts for Investor Verification
- Verify the full audited financial statements for the year ended December 31, 2011, to assess actual financial performance.
- Confirm the total number of directors and audit committee members to calculate the aggregate impact of the approved remuneration packages.
- Review the 2012 Form 20-F for the final approved auditor fees and detailed financial results.