Banco de Credito del Peru SA · BVL:CREDITC1
Banco de Credito del Peru SA — Debt Investor Presentation (March 2012)
21 slides from Banco de Credito del Peru SA's debt investor presentation, March 2012
Slide 1: 4Q11 Fixed Income Presentation
4Q11 Fixed Income Presentation March 2012
Slide 2: Peru's Economy and Banking System
PERU’S ECONOMY AND BANKING SYSTEM 2
Slide 3: Highlights
Highlights Low Country Risk Perception Strong Economic Metrics EMBIG (12Month average) EMBI spread (pbs) 418 300 250 BBB- BBB 200 BBB BBB- A+ 201 201 150 195 173 145 100 Jan-11 Apr-11 Jul-11 Oct-11 Jan-12 Chile Colombia Peru Mexico Brazil Latam PEN / USD 2.90 Source: BCRP, S&P 2.85 2.80 Improved Cre
Slide 4: Economic and social indicators
Economic and social indicators GDP Growth Controlled Fiscal Balance 5-Year Average Real GDP Growth (%) 5-Year Average Fiscal Balance/GDP (%) 7.2 3.4 1.0 0.9 1.2 5.4 4.9 4.2 4.2 4.6 4.5 4.4 4.6 3.5 3.6 (0.5) (0.1) 3.3 2.8 (0.8) (1.0) (1.0) (1.6) 1.9 (1.9) (2.2) (3.5) 1.5 (2.6)(2.5) Peru Chile Mexico
Slide 5: Peruvian Banking System
Peruvian Banking System Banking System Loans (USD Bn) Loans & Deposits penetration (As a % of GDP) Dic’10– Dic’11 Growth: 21.9% 44.8 42.0 41.2 68 38.1 59 36.8 33.1 34.7 44 31.1 30 28 27 27 26 20 16 Mar-10 Jun-10 Sep-10 Dic-10 Mar-11 Jun-11 Sep-11 Dic-11 Chile Brazil Colombia Peru Mexico Note: Data a
Slide 6: Peruvian Banking System II
Peruvian Banking System II Past due loans / Total loans Dollarization Loans Deposits 1.56% 66.3% 1.49% 1.47% 61.8% 60.3% 1.27% 57.0% 51.2% 55.0% 50.0% 48.5% 2008 2009 2010 2011 2008 2009 2010 2011 Profitability Regulatory Capital / RWAs ROAE ROAA 31.1% 13.6% 13.5% 13.5% 24.5% 24.2% 24.5% 11.9% 2.56%
Slide 7: Banco de Crédito del Perú - BCP
BANCO DE CRÉDITO DEL PERÚ - BCP 7
Slide 8: BCP Highlights
BCP Highlights Net Loans (USD Bn) Deposits (USD Bn) YoY Growth: 17.9% YoY Growth: 4.3% 66% 16.4 17.1 17.8 13.9 14.0 14.5 11.2 10.2 62% 57% 57% 55% 60% 52% 50% 2008 2009 2010 2011 2008 2009 2010 2011 % of USD denominated loans % of USD denominated deposits Net Income (USD MM) BCP´s Distribution Netwo
Slide 9: Asset Structure
Asset Structure Assets (USD Bn) Investments 1.3; 5% 5.5; 21% 11% Peruvian Central Bank Cash and due certificated notes 6% from banks Peruvian Bonds Investments 10% Foreign government bonds Net loans 3.5; 13% Corporate and leasing 4% 58% bonds Other assets Listed equity securities 16.4; 61% 11% Other
Slide 10: Asset Quality
Asset Quality PDL & Coverage Ratios (%) PDL by Days Overdue (%) Overdue 16-119 days / Total Loans Overdue 120 days or more / Total Loans PDL / Total loans Refinanced Loans / Total Loans PDL Coverage ratio Overdue 90 days / Total Loans(1) 303% 300% 195% 196% 199% 200% 0.96% 0.97% 1.13% 0.96% 0.98% 0.
Slide 11: Liabilities & Funding Structure
Liabilities & Funding Structure Liabilities (USB Bn) Total Deposits (USD Bn) 3.0; 12% 3.1; 13% 7; 37% 4; 24% 0.5; 2% Deposits Demand deposits Due to banks Savings deposits Bonds issued 2; 10% CTS deposits Other liabilities Time Deposits 5; 29% 17.8; 73% Deposits by Business Unit & Dollarization Depo
Slide 12: Funding Structure & Maturity Profile
Funding Structure & Maturity Profile Core Deposits(%) (1) Average Rates Nuevos Soles 84% Total deposits Due to banks and issued bonds Foreign currency 5.82% Total 5.39% 75% 5.02% 4.94% 71% 69% 66% 3.06% 64% 65% 63% 60% 2.07% 61% 0.94% 1.22% 59% 59% 2008 2009 2010 2011 2008 2009 2010 2011 Maturity Pr
Slide 13: Capital Management
Capital Management Regulatory Capital (USD MM) BIS Ratio (%) (1) 2,671 1,964 765 14.5 14.5 1,888 12.8 405 11.5 438 1,303 283 1,907 1,450 1,559 1,020 2008 2009 2010 2011 2008 2009 2010 2011 Tier I Tier II and III Tier I Common(2)/RWA (%) Tier II + Tier III / Regulatory Capital (%) 28.6% 9.3 9.1 8.1 8
Slide 14: P&L Highlights
P&L Highlights Net Income (US$MM) Fees Breakdown Net income Fees/Revenues 51% 50% 50% 9% 16% Other 48% 49% 19% 12% 48% 3% 9% FX transactions 46% 47% 46% 45% Gains from sales 45% 70% of securities 64% 44% Fees and 43% commissions 425 320 431 534 42% 2008 2009 2010 2011 2010 2011 Net Interest Margin P
Slide 15: Key Financial Indicators
Key Financial Indicators ROAE (%)(1) ROAA (%) (1) 2.6 37.8 Avg. 1.9 2.0 Avg. 27.6 1.7 2.1 25.2 24.1 20.9 2008 2009 2010 2011 2008 2009 2010 2011 Net Interest Margin (%)(2) Efficiency (%)(3) 54.4 56.2 52.9 Avg. 45.3 52.6 4.8 4.8 5.0 4.5 Avg. 4.8 2008 2009 2010 2011 2008 2009 2010 2011 Source: SBS and
Slide 16: BCP's Competitive Position
BCP’s Competitive Position Leading Financial Institution in Peru # 1 in Loans Rank Market Share (%) 34% Commercial Loans 1 36% 24% Microfinance Loans 1 22% Consumer Loans 1 25% 15% Mortgage Loans 1 35% 11% Total Loans 1 34% Total Deposits 1 34% BCP BBVA Scotiabank Interbank Shareholders Equity 1 33%
Slide 17: Appendix
»>BCP> APPENDIX 17
Slide 18: Credicorp Ltd.
Credicorp Ltd. Activos: US$ 23.8 billion Utilidad 2009: US$ 469.8 million Utilidad 2Q 2010: US$ 161.9 million Empleados: 19,174 100% * 12.73% 75.98% 38.00% 100% 84.86% 20.10% Atlantic Security 100% 100% 12.73% Holding Corporation Activos: US$ 20.9 billones Activos: US$ 1.6 billones INI: US$ 228.7 mi
Slide 19: Selected Financial Information
Selected Financial Information Income Statement Summary US$ in millions YoY 2008 2009 2010 2011 Growth Financial income 1,212 1,286 1,367 1,738 27.1% Financial expense (523) (435) (425) (530) 24.8% Gross financial margin 689 851 943 1,208 28.2% Provision for loan losses (87) (179) (212) (263) 24.1%
Slide 20: Selected Financial Information
Selected Financial Information Balance Sheet Summary US$ in millions YoY 2008 2009 2010 2011 Growth Cash and due from banks, and interbank funds 3,530.0 3,734.0 8,492.0 5,483.7 (35.4%) Investments at fair value through profit or loss and 3,076.0 3,095.0 1,615.0 3,549.2 available-for-sale investments
Slide 21: BCP's ratings
BCP’s ratings Local Credit Rating Agencies International Credit Rating Agencies Apoyo y Standard & BCP Equilibrium BCP Fitch Moody´s Asociados Poors Date of last review Jun-11 Jun-11 Date of last review Sep-09 Sep-11 Mar-11 Date of last report Jun-11 Jun-11 Outlook Stable Stable Pos Institution A+ A
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