Credicorp: $451.9 Million Peruvian Tax and Fine Resolutions Cancelled

Credicorp Ltd, a Peru-based financial services holding company, has announced that a $451.9 million Peruvian tax and fine resolution has been cancelled. The company operates in four lines of business: Universal Banking, Insurance and Pensions, Microfinance, and Investment Banking and Wealth Management, with a presence in six countries. Credicorp has over 36,000 employees and is a leading financial services company in Latin America.

Lima, Peru – August 14, 2025 – Credicorp Ltd. (NYSE: BAP), Peru's leading financial services holding company, has announced that it has cancelled approximately S/ 1.6 billion in tax assessments and fines issued by SUNAT, the Peruvian Tax Authority. The company made this announcement on August 14, 2025, following the issuance of the resolutions on June 27, 2025.

Credicorp has not altered its position on the merits of the case and continues to challenge the resolutions through legal channels. The company maintains that the contingency is remote and has not made any expense provisions related to this matter. The cancellation of the tax assessments and fines resolves any potential misperception of outstanding obligations to the Peruvian State.

Credicorp operates across Peru, Chile, Colombia, Bolivia, Panama, and the United States, with over 36,000 employees. The company's diversified business portfolio includes Universal Banking, Microfinance, Insurance & Pension Funds, and Investment Management & Advisory services. Despite the ongoing dispute, Credicorp remains committed to full regulatory and tax compliance and safeguarding the interests of its employees, clients, and shareholders.

For further information, please contact the Investor Relations team at investorrelations@credicorpperu.com.

References:
[1] https://www.stocktitan.net/news/BAP/credicorp-ltd-credicorp-ltd-updates-on-tax-dispute-with-vbssl1gpf5b9.html
[2] https://www.morningstar.com/news/globe-newswire/9512645/credicorp-ltd-credicorp-ltd-updates-on-tax-dispute-with-sunat
[3] https://www.marketscreener.com/news/credicorp-says-451-9-million-peruvian-tax-fine-resolutions-cancelled-ce7c51d9da8cf226