Credicorp Ltd. Form 6-K Summary
Business Context and Reporting Period
This Form 6-K, dated October 6, 2009, reports a material event for Credicorp Ltd., a Bermuda-based financial holding company. The filing details a strategic acquisition by its Peruvian subsidiary, Banco de Crédito del Perú (BCP), regarding Financiera Edyficar.
Key Financial Metrics
The filing does not provide consolidated revenue, profit, cash flow, margin, debt, or liquidity metrics for Credicorp Ltd. or BCP. The only specific financial figure disclosed relates to the transaction value:
- Acquisition Cost: US$ 5,191,728.57 for a 5.4% stake in Financiera Edyficar.
- Funding Source: The acquisition is funded entirely with BCP's own funds.
Material Changes
BCP has reached an agreement with the International Finance Corporation (IFC) to acquire an additional 5.4% of Financiera Edyficar. This transaction follows previous acquisitions from CARE and Microvest I, L.P. As a result of this agreement, BCP's total ownership in Financiera Edyficar will reach approximately 91.1%.
Outlook, Regulatory Status, and Risks
On October 2, 2009, BCP received authorization (Communication No. 47394-2009-SBS) from the Superintendency of Banks, Insurance and Pension Funds (SBS). Under Resolution No. 13424-2009, the regulator has authorized BCP to acquire up to 100% of the total stock of Financiera Edyficar. The filing does not disclose specific risks, contingencies, or management commentary beyond the transaction details.
Key Facts for Investor Verification
- BCP's total ownership in Financiera Edyficar will stand at approximately 91.1% post-transaction.
- The transaction value is US$ 5,191,728.57, paid with internal funds.
- Regulatory approval has been granted for BCP to potentially acquire 100% of Financiera Edyficar.
- The filing contains no financial performance data (revenue, earnings, or cash flow) for the reporting period.