Credicorp Spends $180M to Buy Helm Bank, Bolsters U.S. Cross-Border Play

Lima-based financial services giant Credicorp Ltd. announced on December 29, 2025, that its subsidiary, Banco de Crédito del Perú (BCP), has agreed to acquire 100% of Helm Bank USA for $180 million. Helm Bank, a Florida-based community bank, reported $1.1 billion in assets and $106.8 million in shareholders' equity as of September 30, 2025. The acquisition aims to enhance Credicorp's cross-border banking capabilities and better serve Latin American clients operating in the United States.

The deal comes as the Romero family, Credicorp's largest shareholders, prepares for a leadership transition. Dionisio Romero Paoletti, the current head of the family business, is set to retire at the end of the month, with Manuel Romero Valdez taking over. The acquisition could be one of the last strategic moves under Paoletti's leadership. Helm Bank, founded in 1989, primarily serves clients with international ties, including a significant number of Brazilians and Colombians.

Gianfranco Ferrari, CEO of Credicorp, stated that the acquisition would "deepen our ability to serve Latin Americans whose financial lives span both their home countries and the United States." He added that Helm Bank's community-focused approach aligns with Credicorp's broader strategy as reported. Mark Crisp, Helm Bank's president and CEO, emphasized that the partnership with Credicorp represents a "natural evolution" for the bank, allowing it to expand its impact across both the U.S. and Latin America according to statements.

Strategic Implications and Market Context

Credicorp's acquisition of Helm Bank underscores the growing financial integration between Latin America and the United States.

With more than 18 million clients across Peru and other South American markets, BCP is well-positioned to leverage Helm Bank's U.S. presence to expand its reach into cross-border financial services. Helm Bank reported $648.2 million in loans as of September 2025, with a focus on real estate and international clients. The bank is also a member of the FDIC, which insures its deposits.

This move builds on Credicorp's existing international footprint, which includes operations in Chile, Colombia, Bolivia, Panama, and the U.S. through its Miami agency. Credicorp has also been active in digital transformation, with initiatives like Yape, a mobile payment platform, helping to modernize banking in Peru. The acquisition of Helm Bank is expected to complement these efforts by enhancing Credicorp's ability to offer integrated financial services to clients with international needs.

Regulatory and Integration Challenges

The transaction is subject to regulatory approvals in both the United States and Peru, a standard requirement for cross-border acquisitions. Credicorp and Helm Bank acknowledged potential risks, including challenges in integrating systems, operations, and personnel. The company also cited the risk that Helm Bank's loan portfolio may perform differently than expected and that the deal could be impacted by changes in economic or market conditions as noted in disclosures.

Credicorp's CEO emphasized that the bank is committed to preserving Helm Bank's legacy as a community-focused institution while enhancing its capabilities within Credicorp's broader ecosystem. Helm Bank's CEO expressed confidence that the partnership would allow the bank to better serve the communities it supports in both the U.S. and Latin America according to official statements.

What This Means for Investors

Credicorp's shares have surged 59% this year, outperforming many peers in the Latin American financial sector. Analysts have been generally positive, with several firms issuing "Buy" ratings in recent months. The acquisition of Helm Bank is likely to be viewed favorably by investors seeking exposure to Latin American financial institutions with strong international capabilities.

However, investors should remain cautious about the regulatory and integration risks associated with the deal. Credicorp has provided detailed disclosures about potential challenges, including unforeseen costs and expenses related to the integration process as reported. These risks could affect the timeline and overall value proposition of the acquisition.