Credicorp Ltd. Approves $300M Stock Repurchase Program

TL;DR

Credicorp just authorized a $300M buyback over 2 years starting Jan 1, 2025. Bullish.

AI Summary

On December 30, 2024, the Board of Directors of Credicorp Ltd. unanimously approved a new stock repurchase program. This program authorizes the repurchase of up to $300 million of Credicorp's common shares over a period of 24 months, commencing on January 1, 2025. The repurchases will be made in accordance with applicable laws and regulations.

Why It Matters

This significant share buyback signals management's confidence in the company's valuation and its commitment to returning capital to shareholders, potentially boosting the stock price.

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

• $300M — Stock Repurchase Authorization (Maximum amount Credicorp Ltd. can spend on repurchasing its shares.)
• 24 months — Repurchase Period (The timeframe over which the stock repurchases are authorized to occur.)

Key Players & Entities

• Credicorp Ltd. (company) — Registrant and subject of the repurchase program
• $300 million (dollar_amount) — Maximum value of the stock repurchase program
• December 30, 2024 (date) — Date the Board of Directors approved the repurchase program
• January 1, 2025 (date) — Commencement date of the stock repurchase program
• 24 months (duration) — Duration of the stock repurchase program

FAQ

Filing Documents

• ef20040794_6k.htm (6-K) — 15KB
• image0.jpg (GRAPHIC) — 250KB
• 0001140361-24-050599.txt ( ) — 360KB

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 December 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): ____ December 30, 2024 Securities and Exchange Commission - SEC Re.: MATERIAL EVENT Dear Sirs: We hereby notify you as a Material Event that, on December 30, 2024, the Board of Directors of Credicorp Ltd. (Credicorp') agreed unanimously to approve that its subsidiary Atlantic Security Holding Corporation (ASHC) executes Participation Transfer Agreements with the clients of Credicorp Capital S.A. Sociedad Administradora de Fondos. ASHC intends to purchase 100% of the value of investments in the "Credicorp Capital Factoring Dlares" and "Credicorp Capital Factoring Soles" funds for up to US$ 125,300,000. 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: December 30, 2024 CREDICORP LTD. (Registrant) By: /s/ Guillermo Morales Guillermo Morales Authorized Representative

View Full Filing

View this 6-K filing on SEC EDGAR