Credicorp's BCP to Acquire Helm Bank USA in $180M Cross-Border Push

LIMA, PERU – December 29, 2025 – In a significant move to bolster its international presence, Peru's leading financial services holding company, Credicorp Ltd., announced today that its subsidiary, Banco de Crédito del Perú (BCP), has agreed to acquire 100% of Helm Bank USA. The all-cash transaction is valued at approximately USD 180 million, subject to customary price adjustments at closing.

The acquisition marks a pivotal step in Credicorp's strategy to enhance its financial services for a growing clientele whose economic lives and interests span across Latin America and the United States. Helm Bank USA, a Florida state-chartered community bank, will provide BCP with a regulated, full-service banking platform within the U.S.

A Strategic Foothold in the U.S. Market

This deal is designed to create a powerful financial bridge for internationally active clients. Credicorp, with established operations in Peru, Chile, Colombia, Bolivia, and Panama, has identified a clear need for more integrated banking solutions that cater to the cross-border needs of individuals and businesses throughout the region.

By acquiring Helm Bank USA, BCP gains control of a well-established institution with a solid financial footing. As of September 30, 2025, the Florida-based bank reported total assets of USD 1.1 billion and shareholders' equity of USD 106.8 million, underscoring its stability and scale within its community market.

"This acquisition allows us to deepen our ability to serve Latin Americans whose financial lives span both their home countries and the United States," said Gianfranco Ferrari, CEO of Credicorp, in a statement accompanying the announcement. He emphasized the strategic alignment between the two institutions, noting, "We believe that Helm Bank’s legacy as a community-focused institution combined with its expertise in serving international clients, aligns perfectly with our strategy. We look forward to strengthening that role and enhancing its capabilities within our broader ecosystem.”

Combining Community Focus with International Reach

Founded in 1989, Helm Bank USA has carved out a niche as a community-focused bank authorized to operate by the Florida Office of Financial Regulation (OFR) and supervised by both the OFR and the FDIC. Its focus on serving international clients makes it a particularly attractive asset for Credicorp. With a loan portfolio of USD 648.2 million, the bank has demonstrated a robust capacity for lending within its target markets.

The leadership at Helm Bank views the acquisition as a logical next step in its growth trajectory. The deal promises to inject the financial strength and expansive network of one of Latin America's most prominent financial groups into a local U.S. banking operation.

“Partnering with Credicorp is a natural evolution for Helm Bank,” commented Mark Crisp, President and CEO of Helm Bank. “Credicorp’s financial strength, trusted reputation, and client‑centric philosophy provide a solid foundation for our next chapter. Together, we are well-positioned to expand our impact and deliver greater value to the communities we serve, both in the United States and across Latin America.”

Integrating into a Diversified Financial Ecosystem

The acquisition is not merely an expansion but an integration into Credicorp's vast and diversified business portfolio. Credicorp (NYSE: BAP) organizes its operations across four primary lines of business: Universal Banking, led by BCP and Banco de Crédito de Bolivia; Microfinance, through its Mibanco brand in Peru and Colombia; Insurance & Pension Funds, via Grupo Pacifico and Prima AFP; and Investment Management & Advisory, which includes Credicorp Capital and Wealth Management services.

Banco de Crédito del Perú itself is the dominant financial institution in its home country, serving over 18 million clients. It has already made inroads into digital banking transformation with its popular platform Yape, a leader in promoting financial inclusion. This acquisition builds upon BCP's existing international footprint, which includes the BCP Miami Agency, by providing a more comprehensive, on-the-ground banking structure in the U.S.

This move will allow Credicorp to offer a more seamless experience for its wealth management and corporate clients who require U.S. dollar-based accounts, financing, and investment services, effectively capturing a larger share of their financial activities.

The Path to Closing

While the strategic vision is clear, the transaction's completion remains contingent on navigating a series of standard closing conditions. Chief among these are securing regulatory approvals from financial authorities in both the United States and Peru. The process will be closely monitored by stakeholders as a key indicator of the regulatory appetite for such cross-border consolidation.

As is customary with such announcements, Credicorp included cautionary notes regarding forward-looking statements. The company acknowledged potential risks that could affect the outcome, including unforeseen challenges in integrating the two banks' systems and personnel, shifts in interest rates, and potential changes in economic conditions in the markets served by Helm Bank USA. These standard disclaimers highlight the complexities inherent in any major financial acquisition.

The successful integration of Helm Bank USA into the BCP and Credicorp framework will be a crucial test of the company's expansion strategy, ultimately determining its ability to create a truly fluid and comprehensive financial network connecting the Americas.