Credicorp tax dispute resolved, Peruvian tax authority cancels S/1.6 billion assessment.

Credicorp Ltd, a Peruvian financial services holding company, has announced that the total amount of tax assessment and fine resolutions issued by the Peruvian Tax Authority (SUNAT) in June 2025 totaling approximately S/ 1.6 billion soles has been cancelled. The company reaffirms its decision to exercise all legal rights to challenge the resolutions and remains confident in a favorable outcome.

Lima, Peru – July 2, 2025 – Credicorp Ltd. (NYSE: BAP), Peru's leading financial services holding company, has announced that it has cancelled the total amount of approximately S/ 1.6 billion soles related to tax assessment and fine resolutions issued by the Peruvian Tax Authority (SUNAT) on June 27, 2025 [1]. This significant update comes as part of the company's ongoing tax dispute with SUNAT, which was first disclosed on June 30, 2025 [2].

Credicorp has made clear that while the payment has been made, the company maintains its position on the case's merits and plans to challenge the resolutions through legal channels. The company considers the contingency as remote and has not made any expense provisions. Despite the cancellation, Credicorp remains committed to full regulatory and tax compliance, as well as safeguarding the interests of its employees, clients, and shareholders [1].

The cancellation of the resolutions does not alter Credicorp's position regarding the case's merits and resolves any potential misperception of outstanding obligations to the Peruvian State [2]. The company has reaffirmed its decision to exercise all legal rights available to challenge the resolutions, expressing confidence in a favorable outcome.

Credicorp operates across Peru, Chile, Colombia, Bolivia, and Panama, with a diversified business portfolio organized into four lines of business: Universal Banking, Microfinance, Insurance & Pension Funds, and Investment Management & Advisory [1]. The company's commitment to regulatory compliance and stakeholder interests underscores its resolve in the ongoing tax dispute.

For further information, investors and financial professionals can contact the IR 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.globenewswire.com/news-release/2025/08/14/3133538/0/en/Credicorp-Ltd-Credicorp-Ltd-Updates-on-Tax-Dispute-with-SUNAT.html