The results of such growth are clear: full-year 2007 net profits were up by almost 34%, assets had grown by more than 40% and return on equity was 31.7%.
BCP is targeting new clients for both its transactional and retail business services by expanding its distribution channels and consolidating its customer service initiative. BCP’s main initiatives will also continue to focus on underbanked segments in Peru as well as on lending to consumer, small and micro-businesses, which are segments that are highly profitable and are expected to continue to grow in the following years.
BCP is continuing to invest in banking penetration by innovative and profitable channels and the development of suitable products. By the end of 2008, it will have added 75 additional offices to its existing network of 273 branch offices; added a further 150 ATMs – bringing the total to 898; and introduced 350 additional Agentes BCP (the pared down ATMs it installs inside stores and other commercial properties).
“We are honoured to receive this prestigious award. The financial sector in Peru is very competitive and our performance during the past years was a result of the professionalism and teamwork of our staff, so this acknowledgement is very meaningful for the BCP team.” says CEO Walter Bayly.