Credicorp Ltd. · NYSE:BAP
Credicorp — Q2 2020 Earnings Presentation
34 slides from Credicorp's earnings presentation, Aug 8, 2020
Slide 1: Earnings Conference Call 2Q 2020
CREDICORP > Earnings Conference Call Jay , a 2Q 2020 | es -
Slide 2: COVID-19 Update
CREDICORP > COVID-19 Update
Slide 3: COVID-19 Update: Economic Reactivation Indicators
COVID-19 Update: Economic Reactivation Indicators CREDICORP Peru’s economy took a hit but there are already clear signs of economic reactivation Economic activity (% YoY change) “ Electric Energy Demand (% YoY weekly change) ®) D 5 15 o Bees = | 5 “10 5 “4 a5 20 “1S 20 25 os 30 Z, 235 13 35 -40 lull
Slide 4: COVID-19 Update: Macroeconomic Outlook
COVID-19 Update: Macroeconomic Outlook CREDICORP Our macroeconomic fundamentals will provide key support for an economic rebound 1 ; ‘ ) 7 Peru’s GDP growth (% change YoY)” Economic measures (% of GDP) 2 30 ~26% of GDP 20 ‘ Liquidity programs (Reactiva New measures since last call: 1’ > Arte Peru: R
Slide 5: COVID-19 Update: Financial System
COVID-19 Update: Financial System CREDICORP On-going recovery with ample liquidity change YoY)" Debit and Credit Card Transactions (vatue, % Banking System Liquidity (PEN millions) @ 40 1s mFinancial System — m BCP 25,000 20 all 20,000 0 : : : : a 2 15,000 -20 -21 10,000 -40 “41-42 5,000 -60 iso “62
Slide 6: COVID-19 Update: Credicorp response
COVID-19 Update: Credicorp response CREDICORP We continue contributing to the recovery by supporting our employees, clients and communities Employees Business Continuity oO ¢@ Full medical coverage for employees who have contracted COVID-19. ¢ Bio-security protocols to ensure health Performance indi
Slide 7: COVID-19 Update: We are able to meet an uptick in digital needs
COVID-19 Update: We are able to meet an uptick in digital needs CREDICORP Prima AFP Queries & Requests Digital Channels Jan 20 Jun 20 Jun 19 57% 91% ap A 43% > Digital Clients Yaperos” and Transfers BCP®) 4 3 million (in millions) oss 50% 2.6 million 481 35% 170 B Jun19 Jun 20 2Q19 1920 2020 Yaperos
Slide 8: 2Q20 Results
CREDICORP > 2Q20 Results
Slide 9: Credicorp's key financial 2Q20 highlights
Credicorp’s key financial 2Q20 highlights Results were heavily impacted, but the objective is to absorb the brunt of the crisis in 2020 = Loan Portfolio S/132.7 Bn A +21.4% YoY A +10.0% QoQ —~S Net Interest Margin ‘V -140 pbs YoY V -120 pbs QoQ W-120 pbs YTD (0) Includes Government Programs, (2 BCP
Slide 10: BCP Universal Banking
v * tt >BCP> >BCP> Universal Banking
Slide 11: BCP Stand-Alone 2Q20 - Loan Portfolio and Deposit Base
BCP Stand-Alone 2Q20 - Loan Portfolio and Deposit Base ~~ CREDICORP 7 (1/4) Cigures in $/ million) Loans and Deposits Growth 2.6% 5.2! Loans 0.8% 2.3% 2.1% 0.5% Deposits 0.9% Jun-19 Sep-19 Dec-19 Mar-20 May-20 —sCP —Banking System — -BCP w/o GP — -Banking System w/o GP Loan portfolio in average dail
Slide 12: BCP Stand-Alone - Structural Loan Portfolio Profile
BCP Stand-Alone - Structural Loan Portfolio Profile CREDICORP 7 (2/4) (igures in $/ million) Retail Portfolio Reprogramming (as of July 27”) 9,126 5,717 m Overdue = Reprogrammed up-to-date Up-to-date Individuals © SME-Pyme SME-Business Retail Banking First Wave < 7 C58% > C 58% Second Wave Wholesale
Slide 13: BCP Stand-Alone 2Q20 - Loan Portfolio Quality
BCP Stand-Alone 2Q20 - Loan Portfolio Quality CREDICORP 7 (3/4) (figures in S/ million) BCP Gross Provisions and Cost of Risk Structural (1) —— Cost of Risk 46% individuals 1,123 59% = SMEs = Wholesale 5% 5% 1920 2020 @ Provisions increased due to: (i) a deterioration in expectations for a contracti
Slide 14: BCP Stand-Alone 2Q20 - Performance
BCP Stand-Alone 2Q20 - Performance ROE (YTD) CREDICORP 7 (4/4) digures in s/ milion) NIM and Risk-Adjusted NIM = -Structual NIM —NIM 1.45% —Risk Adjusted NIM 152% 2019 1920 2920 Sources of Income V-13% _(¥ -7% w/o One-off impairment) -7.0% (-28 pp) NIM is impacted by: @ The evolution of the loan por
Slide 15: Mibanco Microfinance
yi 4 «mibanco ba* F encumbra Bancompartir Microfinance
Slide 16: Mibanco 2Q20 - Loan Portfolio
Mibanco 2Q20 - Loan Portfolio CREDICORP 7 (figures in S/ million and percentages) Microfinance System Loan Growth (QoQ) Loan Growth in ADB (YoY) 4.0% 47.9% (46.0% Structural) 86 10,823 HM Structural 102 Government Programs “21% 10,031 “3.4% Jun-19 Sep-19 Dec-19 Mar-20 May-20 e 2) a " —Mibanco ——=icr
Slide 17: Mibanco 2Q20 - Loan Portfolio Quality
Mibanco 2Q20 - Loan Portfolio Quality (figures in S/ million and percentages) Mibanco Portfolio Reprogramming” Mibanco Portfolio Due per Month 9,350 % Overd 4 moverdue 1,087 4,706 3,730 5% ia m Overdue m= Reprogrammed up-to-date = Took a facility mw Up-to-date m= Paid May May 20 Jun 20 Jul 20 July L
Slide 18: Mibanco 2Q20 - Performance
Mibanco 2Q20 - Performance ROE (YTD) (figures in percentages) NIM and Risk-Adjusted NIM 14.9% 15.2% 14.2% 11.6% < 54.1% -24.8% (-45 pp) Efficiency Ratio 55.6! ~~ CREDICORP 7 93.7% 57.3% Adjusted”) -4.4% 2019 1920 2020 —_NIM — Risk Adjusted NIM = Structural @ One-off impairment charge and Government
Slide 19: Insurance & Pension Funds
oe PRIMA‘? aad Grupo > Crédito Insurance & Pension Funds \Y
Slide 20: Insurance & Pension Performance in 2Q20
Insurance & Pension Performance in 2Q20 CREDICORP ROE (YTD) (figures in S/ million and percentages) Pacifico’s 14.2% (41.9 pp) Prima AFP 14.6% (-19.5 pp) Grupo Pacifico Prima AFP 51,724 Property & Casualty Life 46,331 7% 89% —= AuMs —————— 53% 3% —_-e___— __ 105.9 ce 7 = Commisions 31.6 279 on mRese
Slide 21: Investment Banking & Wealth Management
be CREDICORP >BCP> ASB> Investment Banking & Wealth Management 0
Slide 22: IB & WM Performance in 2Q20
IB & WM Performance in 2Q20 ROE (YTD) CREDICORP 7 (figures in S/ million) 18.7% (-0.1 pp) Total AuMs Income Contribution (2) 438.4% 492.0% 313 412.2% 413.8% 7.827 YoY 000 56,465 57,022 441.6% 163 ye 94% m Non-reccurent m Recurrent” Jun 19 Mar 20 Jun 20 2gig 1920 2920 =WM =AM ¢ Non-recurrent: Unreali
Slide 23: Consolidated Performance
CREDICORP > Consolidated Performance
Slide 24: Interest Earning Assets (IEAs) and Funding Evolution
Interest Earning Assets (IEAs) and Funding Evolution (figures in S/ million) Interest Earning Assets (Quarter-end balances) @ Loan portfolio growth of 21.4% YoY in quarter-end balances, boosted 207,393 182,047 15.9% 446.6% YoY . 4 * i 166,318 135% mainly by Reactiva GP at BCP, while the structural l
Slide 25: Credicorp: Portfolio Quality and NIM
Credicorp: Portfolio Quality and NIM Evolution of the Cost of Risk YoY Portfolio Quality Ratios 167.5% ‘& +677 pbs YoY in the Cost of risk 126.1% 0.30% 8.41% 108.5% 1.08% 0.30% _ 766% + 4.26% 5.40% | “0.75% 4.11% 3.90% = Ee 3.78% 1.64% Jun 19 Mar 20 Jun 20 2Q19 BP Mibanco Others (1) 2020 GP 2020 Sta
Slide 26: Non-Financial Income and Efficiency
Non-Financial Income and Efficiency (figures in S/ million) Non-Financial income evolution A 6.0% 958 1,015 = Others! = Net gain on securities m= Net gain on foreign 79.4% exchange transactions 49.6% m Fee income 1920 2Q20 Efficiency deteriorated mainly due to the one-off impairment charge and the e
Slide 27: Credicorp Solvency and Liquidity
Credicorp Solvency and Liquidity Our BS allows us to take the measures needed to emerge stronger and gradually recover profitability Solvency @ After distributing dividends, recent movements in equity were related to unrealized losses and gains due to market conditions @ CET1 levels for both BCP and
Slide 28: Credicorp's track record is proof of its long-term resilience
Credicorp’s track record is proof of its long-term resilience Net income evolution 85% a 65% 6.0% 58% 4.0% 1% 3.3% 40 24% 25% 2.0% 1.2% mame Net Income cua 4,092 3,984 4265 ait 3,09. -e—GDP 2,388 2 1614 0973 2080 | 555 i Boel a '-33% , Jun 19 Jun 20” 2010 201 201 203 2014 2015 2016 207 2018 2019 BCP
Slide 29: Outlook
CREDICORP > Outlook
Slide 30: Outlook
Outlook CREDICORP We have a talented and committed team to drive our long-term strategy In the short-term we are balancing our commercial initiatives: Focusing on fine-tuned management of the most exposed segments of our loan portfolio; adjusting risk management measures; and implementing debt restr
Slide 31: Appendix
CREDICORP > Appendix
Slide 32: ◆ ◆ ◆ (I)* (I) (I)* ◆ (I)* (I)* ◆ ◆
◆ ◆ ◆ (I)* (I) (I)* ◆ (I)* (I)* ◆ ◆
Slide 33: Glossary
Glossary CREDICORP Government Program Loans (“GP or GP loans”) Loan Portfolio related to Reactiva Peru and FAE-Mype to respond quickly and effectively to liquidity needs and maintain the payment chain. Structural Loans Loan Portfolio excluding GP Loans One-off Impairment One-off IFRS9 modification l
Slide 34: Earnings Conference Call 2Q 2020
CREDICORP > Earnings Conference Call Jay , a 2Q 2020 | es -