Credicorp Ltd (BAP) Q1 2022 Earnings Call Transcript

For the period ending March 31, 2022

May 6, 2022 10:30 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good morning, everyone. I would like to welcome all of you to the Credicorp Ltd, First Quarter 2022 Conference Call. A slide presentation will accompany today's webcast, which is available in the Investors section of Credicorp's website.

Today's conference call is being recorded. [Operator Instructions].

Now it is my pleasure to turn the conference over to Credicorp's IRO, Milagros Ciguenas. You may begin.

Milagros Ciguenas

Thank you, and good morning, everyone. Speaking on today's call will be Gianfranco Ferrari, our Chief Executive Officer; and Cesar Rios, our Chief Financial Officer. Participating in the Q&A session will also be Francesca Raffo, Chief Innovation Officer; Reynaldo Llosa, Chief Risk Officer; Diego Cavero, Head of Universal Banking; and Cesar Rivera, Head of Insurance and Pensions.

Before we proceed, I would like to make a following safe harbor statement. Today's call will contain forward-looking statements which are based on management's current expectations and beliefs and are subject to a number of risks and uncertainties, and I refer you to the forward-looking statements section of our earnings release and recent filings with the SEC. We assume no obligations to update or revise any forward-looking statements to reflect new or changed events or circumstances.

Gianfranco Ferrari will start the call discussing our strategic initiatives, followed by Cesar Rios, who will comment on the macro environment in which we work, our financial performance and provide an update on our outlook for 2022.

Gianfranco please go ahead.

Gianfranco Ferrari

Thank you, Milagros. Good morning, everyone. Thank you for joining us today. Please turn to Slide 3 of our earnings presentation. We were pleased to recently have the opportunity at our Digital Day to introduce to many of you our holistic approach to continuing to challenge and transform ourselves to maintain our leadership position in Peru and beyond as we expand regionally.

Our first quarter results underscore the effectiveness of our strategy as we capture market opportunities, capitalized on synergies and leverage our brands and scale to deliver to strong on operational milestones, financial metrics and enhance shareholder value.

Despite the current political turmoil, the successful execution of multiple initiatives across our LOBs enabled us to maintain solvency and to increase our declared dividend to PEN 15 soles per share for the 2021 fiscal period.

Today, we are also adjusting our 2022 outlook for Credicorp. Cesar will discuss this in more detail shortly.