Credit Bank of Peru

Founding as Banco Italiano (1889–1941)

Banco de Crédito del Perú (BCP), was incorporated on April 3, 1889, as "Banco Italiano" ("Italian Bank"), founded by Italian-Peruvian merchants. It began operations on April 9, 1889, in downtown Lima with five employees. Its first president was José Alberto Larco.

Within its first two decades, Banco Italiano opened branches in Callao, Chincha, Arequipa, and Mollendo, and established the Compañía de Seguros Italia as a subsidiary. In 1928 the bank inaugurated a new headquarters designed by architect Ricardo de Jaxa Malachowski.

In September 1935, when war broke out between Italy and Ethiopia, a smear campaign targeted Banco Italiano. Director Rollin Thorne Sologuren publicly defended the bank, emphasizing it operated under Peruvian law and was independent of the Italian government.

Becoming Banco de Crédito del Perú (1942–1999)

In 1941 the Romero family acquired Banco Italiano. On January 21, 1942, the institution adopted its current name. BCP then opened branches in Nassau (Bahamas) and New York City. In 1994 BCP expanded into Bolivia through the acquisition of Banco Popular, which eventually became Banco de Crédito de Bolivia.

Regional expansion (2000–2016)

BCP built its new corporate headquarters in Lima's La Molina District — a complex of over 49,000 m² across five levels. In 2004, the Miami chapter of the American Institute of Architects awarded the building the AIA Test of Time Award. In 2010, BCP acquired Edyficar, a microfinance company. In 2014, Edyficar acquired and merged with Mibanco, making BCP Group the largest microcredit provider in the Peruvian financial system.

Digital transformation era (2017–present)

In 2017 BCP launched Yape, a digital wallet. By end-2025 Yape had more than 19.1 million active users. Since 2022, more than 1.3 million people accessed their first credit product through Yape, 41% of whom are women.

In 2025, generative AI became a cross-cutting enabler: 50% of BCP's employees use AI tools on a daily basis.

El Cuy Magico - The Magic Guinea Pig (2008-present)

In October 2008, BCP launched the "Cuy Magico" ("Magic Guinea Pig") campaign, created by agency Circus, to promote its "Tarjeta Credito Negocios" ("Business Credit Card") targeting micro and small enterprises. The character, an animated giant guinea pig that advises entrepreneurs, transcended the original campaign and was embraced by Peruvians as a cultural mascot, appearing in everyday conversations both online and offline.

BCP has more than 133 years of presence in the country and represents Peru's most valuable brand. Its network of more than 8,340 points of contact serves its more than 6 million clients. BCP is the main subsidiary of Credicorp (NYSE: BAP), the largest financial holding in Peru.

Retail Banking

BCP’s Retail Banking serves individuals and small-sized companies across three sub-segments: Banca Consumo (mass market), Banca Exclusiva (upper-middle income), and Banca Enalta (high-net-worth). Core products include savings accounts, personal loans, credit cards, mortgage loans (including the government-backed MiVivienda program), and vehicle loans.

BCP is also the largest capital market and brokerage distribution system in Peru; its main activities include asset management, foreign exchange transactions, treasury, custody and trust, investment advisory services, and research activities. As of December 2025, the retail banking division served 13.7 million clients, with 89% of all monetary transactions conducted through digital channels.

Savings accounts

BCP offers savings accounts to individuals and businesses across its branch network and digital channels. As of December 2025, BCP held a 43.91% market share in savings and demand deposits from individuals in Peru, according to SBS data, and a 33.58% market share in severance compensation accounts (CTS). The bank also operates Warda, a no-fee digital savings account accessible through mobile banking or the Yape app.