- Between 2020 and 2023, the financial holding achieved this level in large part thanks to the programs and products at BCP and Yape.
- In 2023 alone, Mibanco banked 64 thousand clients, 56% of whom were women. This microfinance entity disbursed S/108,5 million thanks to its Crédito Mujer product.
- The holding continues to progress toward its goal to be carbon-neutral at its own operations by 2032.
Lima, April 29, 2024. Credicorp Group, Peru’s leading financial holding with a presence in Colombia, Chile, Bolivia, Panama and the United States, published the results of its sustainability strategy (ESG) in Latin America in 2023. Through its sustainability report, the Group indicated that it had included 4.1 million people in the financial system between 2020 and the end of 2023, primarily through programs and products from BCP and Yape.
On the social front, BCP continued to drive improvements in financial behavior among 214 thousand clients thanks to its education initiatives for business. Mibanco, in turn, disbursed S/1,407 million through Crediagua, a program that contributes to improving people’s quality of life through sanitary improvements and S/108 million via Crédito Mujer, an initiative that targets women who are independent or dependent employees who are seeking financing for up to 12 months for working capital, fixed assets, housing and personal consumption. Mibanco also banked 63.6 thousand clients, 56% of whom were women.
“Financial inclusion of women is essential if we are to advance equity efforts in Latin America. For this reason, we have strengthened our value proposition for women by creating ‘Mundo Mujer’ at the corporate level. We focus on more than just providing access to credit to offer financial education, savings products and other services”, explained Gubbins.
Pacífico Seguros issued 3.2 million policies for inclusive insurance at a cost between S/4 to S/30 a month. Prima AFP, in turn, registered 12 million views of its series El Depa, which seeks to improve the level of pension education in Peru.
Environmental
In 2023, the holding launched its Corporate Environmental Strategy. The main advances in environmental management included labeling 59 green loans for more than US$585 million at BCP, which represented growth of 269% YoY. The first Credicorp TCFD (Task force on Climate-Related Financial Disclosures) Report was published. This study described the measures adopted to June 2023 under our environmental strategy and addressed questions regarding climate change in ambits such as corporate governance, business strategy, operations, risks and metrics at both the corporate and subsidiary levels.
Credicorp defined the main axes of its sustainability risk management, including its appetite for risk and exclusions. The main ESG risks that will be managed were identified and prioritized and the norms and processes for the main financing and investment activities were updated.
Governance
On the corporate governance front, in 2023 the first external assessment of the Board was conducted. The recommendations will contribute to strengthening management. Currently, 33% of the positions on the Credicorp Board are held by women. To strengthen the gender balance in positions of leadership in the holding, diverse strategies have been implemented including leadership programs, mentoring, and networking for women in the executive segment.
“Issues of corporate governance, ethics and anti-corruption are the basis for our sustainability strategy and top the list for material issues for the group and our stakeholders. All our sustainability strategy rests on this thanks to our diverse and mainly independent board,” concluded Ms. Gubbins.
