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More than 230,000 people entered the financial system during the second quarter of the year

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In the second quarter of 2022, more than 230,000 people managed to be financially includedthrough the holding’s businesses, according to Credicorp, a financial group with a presence in Bolivia, Chile, Colombia, Panama and Peru.

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Despite the climate of political instability in Peru, the corporation remains resilient and continues to focus on promoting the priorities of its business strategy: accelerating digital transformation and innovation, continuing to attract and retain the best talent, and integrating sustainability into the organization’s business management, highlighted Gianfranco FerrariCEO of Credicorp.

He added that To accelerate growth with a positive impact on the welfare of society in Peru, “it is necessary for the government to focus on generating stability, ensure the institutional framework and execute the fiscal budget to increase the capacity of our economy.”

Promotion of financial education

From the front Social, Credicorp continued to expand financial inclusion and education, encouraging small businesses to grow, and providing solutions to reintegrate people with financial problems into the system.

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In financial education, Yape trained nearly 65,000 people in financial matters through workshops and work groups; and in My bankmore than 76,000 clients have received financial and business advice. In addition, Yevo, Mibanco’s virtual ecosystem for entrepreneurs, reached 100,000 members and launched seven virtual courses on financial education and digital tools.

On the front Environmental, Credicorp developed sustainable financial solutions and advanced the ESG risk management framework. In that line, the BCP carried out the first issue of international green bonds of the Peruvian banking system for a total of US$ 30 million and the funds raised will be used to finance eco-friendly production plant projects.

For its part, Credicorp Capital acted as structuring agent and placement agent for sustainable commercial paper for a company that will develop conservation and reforestation projects in the Amazon.

digital breakthrough

During the second quarter of the year, 58% of clients of the BCP they are digital and 57% of BCP’s monetary transactions were carried out through digital channels. Meanwhile, in My bank the hybrid model has allowed it to record record levels in terms of loan origins: 49% of loans were disbursed through alternative channels.

the digital wallet Yape reached 10 million users during the first days of July. This focused on increasing the use of the application both in quantity traded and volume traded in the Peruvian market. To do this, it implemented campaigns to encourage the use of the app in commercial establishments and to recharge mobile phones.

Between April and June of this year, an average of 106,000 mobile recharges were made daily through Yape. In the third quarter, initiatives will be enabled so that Yape has a greater presence in the daily lives of users and Yape Offers will be launched, as well as the microcredit functionality. Since November 2020, Yape has included 1.9 million people in the financial system.

Source: Larepublica

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