Banco de Credito del Peru SA · BVL:CREDITC1
Banco de Credito del Peru SA — Debt Investor Presentation (May 2023)
31 slides from Banco de Credito del Peru SA's debt investor presentation, May 2023
Slide 1: BCP
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Slide 2: Disclaimer
The information contained herein has been prepared by Banco de Crédito del Perú (“BCP”) solely for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any securities and should not be treated as giving investment or other advice. No representation or warran
Slide 3: Macro and Market Backdrop
Macro and Market Backdrop
Slide 4: Emerging Markets show resilience this 1Q23
Conditions Emerging Markets show resilience this 1923 FED rate market expectations (%, As of April 27%) Copper Price (USD/Ib., as of April 27h) 2) 6.00 , 5.00 5.00 Mar-22: 4.84 i . 5.00 4.50 ‘Second producer ,’ 4.25 ~ ° 4.00 4.00 4.00 3.00 3.25 350 27-Apr: 20% 2.00 —— December 2022 3.00 Jul-22: 3.25
Slide 5: Peru's GDP is expected to rebound after slightly negative 1Q23
Peru’s GDP is expected to rebound after slightly negative 1Q23 Peru: Real GDP by demand components (contribution to GDP and GDP in % change YoY) 7.0 6.0 GDP 2022 growth 2.7% 5.0 4.0 mame Private consumption 3.0 mums Private investment 2.0 Government 10 mum Net exports 0.0 ‘ Inventories 40 a ae 20 |
Slide 6: High inflation keeps restrictive monetary policy stance
High inflation keeps restrictive monetary policy stance Inflation Rate Central Bank Monetary Policy Rate (% YoY, as of March 2023) (%, as of April 2023) 15.0 . ent, —Headline CPI (7.75) 720 | ——PPI ar 3.0 6.0 3.0 2.25 0.0 0.25 -3.0 2eaenanoooyrAANAn ®ASSOSSSORANARANNNAR ANAM SESE Ste@eeyeyEsSsuvggy
Slide 7: Peru's economy is expected to remain amongst the most dynamic in the region
Peru’s economy is expected to remain amongst the most dynamic in the region A GDP Growth forecasts 2023-2025 Inflation forecasts 2023-2025 (% change, average) (% change, average) 28 25 5 68 66 : 2.2 21 50 Laer 46 44 go 12 3.0 | | 2.0 2 2 2 5 2 9 <1 2 g = 2 9 i] 2g 5 2 @ § @ @€ § Gg & 2 § € § § & @ 3
Slide 8: Latam exchange rates
81 80 58 60 36 39 34 34 PEN MXN COP CLP BRL 160 150 147 140 130 129 120 114 110 108 100 96 90 Jun20 Jun21 Jun22 Mar20 Mar21 Mar22 Mar23 Dec19 Sep20 Dec20 Sep21 Dec21 Sep22 Dec22
Slide 9: BCP Overview
BCP Overview Some of the accounting practices used by BCP are aligned with Peruvian GAAP and as such, may, in certain aspects, significantly differ from generally accepted accounting principles in other countries (including IFRS, which is the accounting standard used to prepare Credicorp’s consolida
Slide 10: Undisputable Leader in the Peruvian Financial System
A Undisputable Leader in the Peruvian Financial System #1in Direct Loans(1) Financial Highlights © Market Share (%) Others (PEN Billion) >BCP> Interbank “4 Gross Loans Scotiabank Cy Total Assets yd amibanco bee BBVA Total Deposits #1 in Deposits(1) Market Share (%) Others Total Funding >BCP> Shareho
Slide 11: Balance Sheet Snapshot
Balance Sheet Snapshot a Total Assets (S/ million, %) I Cash and due from banks GP Loans) HM others Investments WM Structural Loans 193,423 60.4% 4.2% 1922 2Q22 Funding and Equity Structure (S/ million, GP Funds” IM Due to banks [Mj Deposits I Equity Other Repurchase agreements [il Bonds Others 193,
Slide 12: Loan Portfolio
Loan Portfolio A Evolution pf Loans by Economic Sector GP (1) I Retail Banking Mar-23 HB Wholesale Banking Mibanco Others (3), 89 +0.6% Agriculture, 2% Fishing, 1% 132,016 134,754 138,684 137,192 132,860 Electricity, Gas and Water 15,767 iBBzE) 10,757 4% onsumer, 26% 18,067 a Construction, 3% 51,046
Slide 13: Deposit Growth Evolution
A Evolution Deposit Growth Demand deposits [ll Time deposits IM Saving deposits [J Severance indemnity deposits (CTS) 41.2% 130,423 129,139 133,607 129,820 131,931 51,488 46,950 49,327 44,601 43,789 Dollarization “> — Evolution Deposits growth contribution in S/MM Yearly 130,423 12,268 Deposits 1922
Slide 14: Financial Performance
Financial Performance Net Interest Income & Margin (S/ million,%) Net Income & ROAE (S/ million, %) 6.4% 6.7% 7.1% 7.6% 7.7% 22.1% 24.3% 24.6% . 6.25% 20.0% 19.3% 10% 51% 5.6% 6.17% 1288 1328 2en 2,931 2,914 ws 1,015 1,058 2,221 2,401 2 1922 2022 3022 4Q22 1923 4Q22 1923 mama Net Interes Income ——=N
Slide 15: Asset Quality
Asset Quality 7 jp Cost of Risk & Provisions (%, S/ million) Delinquency Ratios" (%) HM Provision expense — Cost of Risk Hl NPL Ratio Recoveries NPL Coverage Ratio 2.08% 1.99% m ne 105 405 105 1.56% 1.31% 0.84%, : 5.58 5.65 5.67 706 796 558 5.42 538 454 278 726 617 533 785 365 -86 “77 “78 19 a 1922
Slide 16: Capital Management
Capital Management") A SBS Regulatory Capital (%) - Basel III since 2023 NX BCP Internal CET1 (%) — calculated in accordance with IFRS 1 16.45% 15.79% 15.23% 14.93% ag gay I 1 ae 12%) 1 1 1 1 1 1 1 1 1022 2aze 3022 4gz2 | 1923 v mBIS ratio (2) Change of Regulation Capitalization Levels well-above Re
Slide 17: Appendix
Appendix
Slide 18: Our Purpose: Transforming Plans into Reality
Our Purpose: Transforming Plans into Reality A Our purpose Transformation Values Test & Learn | Customer Centricity Risk-Conscious & Righteous Collaboration | Give yourbest | Boost your skills Our North Stars Our Enablers Driven by The Best Talent (1) Source: BCP 18
Slide 19: Our Purpose: Strategic Priorities
Our Purpose: Transforming Plans into Reality A Strategic Priorities we The Best Experience wt Reconnection with societies Efficient Bank with digital approach New Income Sources ( Remaining awa Deepening YO Lead in awa Optimize YO Attract, > (empower our ) (“Prioritize and ) close to our our efficie
Slide 20: Capturing Value from Digitalization
Capturing Value from Digitalization A Digital Clients Evolution” Digital Sales'2) (%, Thousands) (%, Thousands of units per month) 10,664 1,164 8,762 1,004 7,844 % 788 66% s0% 61% 54% 56% 47% 46% 44% 33% 53% 50% 39% 2020 2021 2022 2020 2021 2022 mNon-digital m Digital -_ _ mw Non-digital = Digital E
Slide 21: Environmental, Social and Governance highlights
E S G Verified green transactions for $197 MM. +623k people financially educated through courses, talks at universities and BCP’s MSCI ESG Ratings: AA (July 2022, updated April 2023). institutes, alliances with the Ministry of Education and our e-learning platform First international issuanc
Slide 22: Peru economic indicators
Peru Rating (outlook): Baa1 (n) / BBB (n) / BBB (n) 2016 2017 2018 2019 2020 2021 2022 2023F Economic activity Nominal GDP (USD mn) 195,740 215,885 226,856 232,447 205,553 225,953 244,752 263,866 GDP per capita (USD) 6,214 6,789 7,045 7,152 6,300 6,840 7,329 7,809 Real GDP (y/y) 4.0 2.5 4.0 2.2 -11.
Slide 23: Selected Financial Information: Income Statement
Selected Financial Information 7 jw Income Statement Summary (PEN in millions) 1922 4Q22 1923 QoQGrowth YoY Growth Financial income 2,710 3,840 3,903 16% 44.0% Financial expense -489 -908 -990 9.0% 102.5% Gross financial margin 2,221 2,931 2,912 -0.6% 31.1% Provision for loan losses -278 -706 -656 7
Slide 24: Selected Financial Information: Balance Sheet
Selected Financial Information A Balance Sheet Summary (PEN in millions) Cash and due from banks and interbank funds Investments at fair value through profit or loss and available-for-sale investments, net Gross loans Allowance for loan losses Other assets Total assets Deposits and obligations Payab
Slide 25: Selected Financial Information: Ratios
Selected Financial Information (%) 1922 4Q22 1923 Financial margin 4.63% 6.17% 6.25% ROAE 22.15% 19.27% 24.63% ROAA 2.29% 2.18% 2.78% Cost of risk 0.84% 2.08% 1.99% Past due loans ratio 4.24% 4.14% 4.10% PDL coverage ratio 144.24% 143.08% 145.59% Non-performing loans ratio 5.49% 5.65% 5.67% NPL cove
Slide 26: Experienced Management Team
Experienced Management Team A Diego Cavero General Manager (CEO) * Joined BCP in 1994 = MBA from the University of Texas Reynaldo Llosa Chief Risk Officer (CRO) = Joined BCP in 1997 = MBA from J.L. Kellogg Graduate School of Management César Rios Planning and Finance Central Manager (CFO) * Joined B
Slide 27: Top Tier Credit Ratings
Top Tier Credit Ratings A Local Credit Rating Agencies International Credit Rating Agencies BCP AAI Moody's Local BCP Fitch S&P Moody's Date of last review Mar-23 Mar-23 Date of last review” Mar-23 May-23.— Feb-23 Institution At+ At+ Outlook Negative Negative Negative Issuer rating BBB BBB Baal Long
Slide 28: BCP Corporate Bonds and subordinated debt
BCP Corporate Bonds and subordinated debt Breakdown of international bonds Issued Amount Outstanding sae ae Coupon Bond Issue date Duedate Tenure (years) Currency Original Amount Original ote Currency (000) Currency (000) Subordinated 01/07/2020 01/07/2025" 10 USD 850,000 850,000 3.13% Subordinated
Slide 29: Client Segmentation
Client Segmentation A Business Group C te Wholesale Banking orporate Group (WBG)“ Middle-Market Enalta Retail Banking piles: Group (RBG) Consumer SME - Business SME- Pyme Client Income/Sales/Total debt Annual sales higher than $100 million (equivalent to S/399 million) Annual sales from $10 million
Slide 30: Table of Calculations
Table of Calculations “~~ Profitability Net interest margin (NIM) Net interest margin on loans (NIM on loans) Risk-adjusted net interest margin (Risk-adjusted NIM) Return on average assets (ROAA) Return on average equity (ROAE) Funding cost Portfolio quality Past-due loans ratio Internal overduerati
Slide 31: Contacts
Contacts A Head of Treasury Division Pablo Hurtado Banco de Crédito BCP Calle Centenario 156 La Molina, Lima - 12, PERU Phone: (+511) 313-2500 E-mail: [email protected] Asset and Liability Management Fiorella Rosell Banco de Crédito BCP Calle Centenario 156 La Molina, Lima - 12, PERU Phone: (
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