Credicorp Ltd. · NYSE:BAP
Credicorp — Q1 2020 Earnings Presentation
26 slides from Credicorp's earnings presentation, May 10, 2020
Slide 1: Earnings Conference Call
CREDICORP > Earnings Conference Call Jy x ss , 19 2020 es eee
Slide 2: COVID-19 dynamics at Credicorp: Our response
COVID-19 dynamics at Credicorp: Our response CREDICOR PY We are thankful for and impressed by the drive, engagement and collaboration of our teams Ensuring the well-being of our employees and clients Alleviating financial pressure on clients Employees * Biosecurity protocols activated, including dee
Slide 3: (1) Source: ASBANC. Figures from the Multiple Banking System (represents 85% of Total Financial
(1) Source: ASBANC. Figures from the Multiple Banking System (represents 85% of Total Financial System). (*) Wholesale Payments: Collections and Services Payments (2) SBS segment definition. (3) Source: operational company source
Slide 4: Government economic measures
(1) Includes Government’s economic measures (12% of GDP) and other economic measures. (2) "Reactiva Peru" program for S/ 30 Bn and FAE (Enterprise Support Fund) enables resources for up to S/ 4 Bn.
Slide 5: (2) Source: SBS, BCP – Economic Research
(1) Source: Research reports. (2) Source: SBS, BCP – Economic Research
Slide 6: Credicorp is well-positioned to manage the COVID-19 crisis
Credicorp is well-positioned to manage the COVID-19 crisis Conservative and disciplined risk management creates buffers to manage crises Solely for comparative purposes, we disclose our LCR according to local regulatory standards. Nonetheless, Liquidity risk at Credicorp is managed through more stri
Slide 7: * Considering an advanced payment to an airline company, High exposure increases 90 bps
▪ ▪ ▪ ▪ * Considering an advanced payment to an airline company, High exposure increases 90 bps (1) As of May 4th 2020
Slide 8: Expected credit losses
▪ ▪ ▪ * ECLs : Expected Credit Losses
Slide 9: Credicorp's key financial 1Q20 highlights
Credicorp’s key financial 1Q20 highlights As the crisis sets in this quarter, provisions offset results = Loan Portfolio S/120.7 Bn A +11.4% YoY A +4.4% Q0Q Efficiency Ratio 43.4% A +100 bps YoY V -230 bps QoQ = Net Interest Income 2,379 Mn A +8.3% YoY A +0.6% QoQ Net Income s/209m V -81.0% YoY V -7
Slide 10: BCP Universal Banking
v * tt >BCP> >BCP> Universal Banking
Slide 11: BCP deposits
IB Demand: Interest Bearing Demand Deposits NIB Demand: Non interest bearing demand depósits
Slide 12: BCP non-financial income
(1) Core NFI: 77% of Fee income and 23% of Net gain on foreign exchange transactions (2) Non-core NI: Net gain on securities, Net gain on derivatives held for trading, Net gain from exchange differences and Others
Slide 13: Microfinance
yi 4 «mibanco ba* F encumbra Bancompartir Microfinance
Slide 14: Mibanco Performance in 1Q20
Mibanco Performance in 1920 We Contribution ROE (YoY) CREDI CORP 7 (figures in S/ million) 15.9% 6.5% (14.8 pp) Loan Portfolio Structure NIM, CoR and Risk-Adjusted NIM Mortgage 5% Consumer 6% 14.70% 15.1% E-16% —nim Medium 3% 11.86% 12.07% Micro 26% 5420 Risk Adjusted NIM 6.70% —CoR 5/10,629 a ae +7
Slide 15: Insurance & Pensions Funds
Pg PRIMA*” LU Grupo > crédito Insurance & Pensions Funds \Y
Slide 16: Insurance results
65.7% 62.4% 59.5% 621 628 584 15 15 14 290 305 322 Net earned Loss Ratio premiums 281 301 291 Crediseguro -164 -153 -136 Life Net -230 -232 -215 Claims Property & -4 -5 -5 Casualty 384 387 374 1Q19 4Q19 1Q20
Slide 17: Investment Banking & Wealth Management
0 be CREDICORP ; Vi ultraserfinco ASB > —— Investment Banking & Wealth Management
Slide 18: Assets under management
(1) Figures include AuMs from the Wealth Management and Asset Management businesses. (2) Others include Trust business and Treasury business.
Slide 19: Consolidated Performance
CREDICORP > Consolidated Performance
Slide 20: Deposits
(1) Demand deposits accounts 60% (non interest-bearing represent 89% of total demand deposits increase) and Savings deposits accounts 36%.
Slide 21: Loans by segment
(1) Others includes: BCP Bolivia, Bancompartir and Encumbra
Slide 22: Contribution by business
▼ (1) Others includes Net gain from associates, Net gain on derivatives held for trading, Net gain from exchange differences and Others. (2) Others includes: Credicorp Capital, Prima AFP, BCP Bolivia, ASB, Grupo Credito, among other subsidiaries and the eliminations for consolidation pur
Slide 23: Credicorp Consolidated 1Q20 Performance
Credicorp Consolidated 1920 Performance Decelerating income and high provisions, both driven by COVD-19, impact our short-term performance. Quarterly ROAE Evolution (YoY) Profitability 18.5% uy Net Income 1.7% zz s/209m pure =e 3.4% 1% “0.5% ; | V -81.0% YoY ROAE 1019 ur I Microfi i IB& WM ‘Othe ROA
Slide 24: Outlook
CREDICORP > Outlook
Slide 25: Credicorp's Strategic Outlook
Credicorp’s Strategic Outlook CREDICORP > We are thinking long-term: Going forward, our strategy is focused on Universal Banking Microfinance customers, assessing new needs and risks, and executing itiatives Implementing FAE program Accelerating the path to the hybrid decision making model Redefinin
Slide 26: Earnings Conference Call 1Q 2020
CREDICORP > Earnings Conference Call Jy x ss , 1Q 2020 aes ee