Credicorp Ltd. Approves $100M Stock Repurchase Program

TL;DR

Credicorp just authorized a $100M buyback, effective immediately until Oct 2025.

AI Summary

On October 24, 2024, the Board of Directors of Credicorp Ltd. approved a new stock repurchase program. The program authorizes the repurchase of up to $100 million of the company's common shares. This authorization is effective immediately and will remain in effect until October 23, 2025, or until the repurchase limit is reached.

Why It Matters

This significant share buyback signals management's confidence in the company's valuation and can potentially increase shareholder value by reducing the number of outstanding shares.

Risk Assessment

Risk Level: low — The filing is a routine disclosure of a board-approved stock repurchase program, which is a common corporate action.

Key Numbers

• $100M — Stock Repurchase Authorization (Maximum amount the company can spend on repurchasing its shares.)

Key Players & Entities

• Credicorp Ltd. (company) — Company making the announcement
• $100 million (dollar_amount) — Maximum value of the stock repurchase program
• October 24, 2024 (date) — Date the Board of Directors approved the program
• October 23, 2025 (date) — Expiration date of the stock repurchase program

FAQ

Filing Documents

• ef20037696_6k.htm (6-K) — 15KB
• image00002.jpg (GRAPHIC) — 3KB
• 0001140361-24-044258.txt ( ) — 21KB

From the Filing

SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K Report of Foreign Private Issuer Pursuant to Rule 13a-16 or 15d-16 under the Securities Exchange Act of 1934 For the month of October 2024 Commission File Number: 001-14014 CREDICORP LTD. (Translation of registrant's name into English) Of our subsidiary Banco de Credito del Peru: Calle Centenario 156 La Molina 15026 Lima, Peru (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F Form 40-F Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ____ Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ____ October 25, 2024 Securities and Exchange Commission - SEC Re.: MATERIAL EVENT Dear Sirs: We hereby notify you as a Material Event that, in its session held on October 24, 2024, the Board of Directors of Credicorp Ltd. (Credicorp') agreed unanimously to determine that the Chief Technology Officer (CTO) of Credicorp, Mr. Andr Rezende, will report directly to the Chief Innovation Officer (CINO) of Credicorp, Mrs. Francesca Raffo. Furthermore, according to the information disclosed as a Material Event by Banco de Crdito del Per (BCP) on October 23, 2024, Mrs. Raffo has resigned to her position as Deputy Chief Executive Officer of BCP in order to focus exclusively on her corporate duties in Credicorp economic group. The change will be effective as from November 1, 2024. The information in this Form 6-K (including any exhibit hereto) shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 (the "Exchange Act") or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act. Sincerely, /s/ Guillermo Morales Authorized Representative Credicorp Ltd. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Date: October 25, 2024 CREDICORP LTD. (Registrant) By: /s/ Guillermo Morales Guillermo Morales Authorized Representative

View Full Filing

View this 6-K filing on SEC EDGAR