Credicorp Ltd. Provides Update on Tax Assessment Resolution

Author: Logan Wright Updated: 08-14-2025 09:05 AM

Credicorp Ltd. Shares Update on SUNAT Tax Assessment

In an important update, Credicorp Ltd. has addressed the tax dispute that was previously disclosed. This prominent financial services holding company in Peru, also recognized as NYSE: BAP, has recently achieved a significant milestone concerning its tax obligations.

Tax Assessment Resolution Cancelled

The total amount of tax assessment resolutions and fines, which amounted to around S/ 1.6 billion soles, issued by the Peruvian Tax Authority (SUNAT) on June 27, 2025, has been cancelled. This cancellation clarifies the company's standing regarding its obligations towards the Peruvian state, easing any misunderstandings that may have arisen from the ongoing situation.

Credicorp's Legal Stance

Grupo Credito, the entity responsible for financial services under Credicorp, has decided to leverage all available legal avenues to contest the resolutions. Despite this proactive measure, the company expresses confidence in achieving a favorable outcome and maintains that any financial contingencies are considered remote, thus not requiring expense provisions at this time.

Commitment to Compliance and Stakeholder Interests

Credicorp Ltd. emphasizes its steadfast commitment to adhering to regulatory and tax compliance requirements. The company intends to protect the interests of its employees, clients, and shareholders vigorously.

Overview of Credicorp Ltd.

As a leader in the financial services sector in Peru, Credicorp boasts a wide-ranging business portfolio that spans several countries, including Chile, Colombia, Bolivia, and Panama. It encompasses various lines of business: Universal Banking via Banco de Crédito del Peru (BCP) and Banco de Crédito de Bolivia, Microfinance through Mibanco in Peru and Colombia, as well as Insurance & Pension Funds through Grupo Pacifico and Prima AFP. Additionally, Credicorp manages investment aspects via Credicorp Capital, further enhancing its diverse offerings.

Contact Information for Investor Relations

If you have any questions or require further information, please don’t hesitate to reach out to the Investor Relations team at Credicorp Ltd. They can be contacted via email. This dialogue ensures that all stakeholders can stay informed and engaged with the company's developments.

Frequently Asked Questions

What is the main update from Credicorp Ltd.?

Credicorp Ltd. announced the cancellation of a significant tax assessment resolution by SUNAT, which previously totaled S/ 1.6 billion soles.

How does this impact Credicorp's obligations?

This cancellation clarifies the company's obligations to the Peruvian State and resolves any potential misunderstandings.

What legal actions is Credicorp taking?

Grupo Credito plans to exercise all available legal rights to challenge the resolutions issued by SUNAT.

What is Credicorp's stance on compliance?

Credicorp reaffirms its commitment to full regulatory and tax compliance while protecting the interests of its stakeholders.

How can I reach out for more information?

The Investor Relations team at Credicorp Ltd. is available via email for any inquiries related to the company's updates.

About The Author

Dedicated Author and financial expert Logan Wright here, 29 years old. After earning an economics degree, I spent a number of years working in different financial industries. My great passion is enabling everyone, from any background or experience level, to understand and be literate in financial matters.

My books and writings are centered on simplifying difficult financial ideas into doable, understandable guidance. Whether it's retirement planning, investing, or budgeting, I want to arm readers with the information they need to make wise financial choices and realize their financial objectives.

Apart from writing, I also frequently post to financial blogs and organize webinars and workshops targeted at enlightening participants about personal finance. Always, my strategy is to offer concise, doable advice that can truly improve people's lives.

Away from work, I like to read, travel, and sample new foods. My goal is to infuse everything I do with the balance that I think is essential to both financial and personal well-being. By my profession, I want to encourage and enable people to confidently and clearly take charge of their financial futures.

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