Credicorp Ltd. (BAP) Stock Price & How to Invest

Credicorp is a Bermuda-incorporated holding company headquartered in Lima that owns Peru's largest bank and most of the country's financial plumbing. It runs four lines of business: Universal Banking through Banco de Crédito del Perú (BCP) and Banco de Crédito de Bolivia; Microfinance through Mibanco in Peru and Colombia; Insurance and Pensions through Grupo Pacífico and the private pension manager Prima AFP; and Investment Management and Advisory through Credicorp Capital, BCP's wealth management arm and ASB Bank Corp. The group's most interesting asset is not a balance sheet line at all: Yape, BCP's payments wallet, reached roughly 16 million monthly active users and has extended credit to over 4.1 million clients, and now contributes about 8% of group risk-adjusted revenue. In May 2026 Peru's banking regulator (the SBS) cleared BCP to acquire 100% of Helm Bank USA, adding a Miami-based dollar banking footprint for Latin American clients.

The investment picture is a quality-versus-country trade. Credicorp earns bank returns that most developed-market lenders cannot: first-quarter 2026 net income was a record ~S/2.06 billion, up ~16% year over year, with ROE of ~21.1%, and management has guided to closing 2026 with ROE near ~19.5%. Fitch upgraded the group to BBB+ in June 2026, placing it one notch above Peru's own sovereign rating, which is an unusual thing for a bank to achieve. Against that, the shares trade at roughly ~14.9x trailing and ~12.9x forward earnings with a ~3.8% dividend yield, because Peru removed two presidents between October 2025 and February 2026 and the April 2026 general election produced a fragmented, contested result. The stock has already re-rated hard (up from a ~$230 low to a ~$413 high over the past year), so the easy discount has narrowed while the political overhang has not gone away.

Peruvian political risk is the dominant variable and it is not hypothetical: two presidents were removed between October 2025 and February 2026, and the April 2026 general election produced a fragmented result with a contested count and calls for annulment. Congress has now authorised eight pension withdrawals since 2019, shrinking private pension assets from roughly $52 billion to around $22 billion, which directly erodes the Prima AFP business and signals that financial-sector rules can be rewritten quickly. Because Credicorp reports in Peruvian soles, a US holder's returns can be cut by currency depreciation even when the bank performs well. The concentration in one small economy also means a commodity downturn (copper prices), a weather shock or renewed social unrest around illegal mining feeds straight into loan losses, and OECD and IMF work through 2026 flags exactly those channels alongside GDP growth of only about 3%. Finally, the shares have already moved from a ~$230 low toward a ~$413 high, so a re-rating that assumed political calm has limited room left if that assumption breaks.

13 analysts publish price targets on BAP, averaging $404.56 against a $386.93 price as of August 2026, or +4.6%. The published targets run from $290.00 to $480.00, a moderate spread, and the ratings split 11 buy, 3 hold, 0 sell. Over the last six months there have been 7 raises and 0 cuts among the published actions. A price target is what an analyst published on a date, not a prediction, and sell-side ratings skew positive across the whole market.

Read the full BAP forecast and price target for the target table, the recent rating actions by firm, and how the consensus has shifted.

We give no verdict on Credicorp Ltd.. Both cases are real, which is why the question is contested at all, so here is the strongest version of each.

The case for buying. Yape turning from a payments app into a lender. Yape's ~16 million monthly active users make it the default way Peruvians move money, and BCP has been converting that base into credit: over 4.1 million clients have taken loans through it. The most optimistic published target, $480.00, assumes this works close to its best case.

The case against. Peruvian political risk is the dominant variable and it is not hypothetical: two presidents were removed between October 2025 and February 2026, and the April 2026 general election produced a fragmented result with a contested count and calls for annulment. The most pessimistic target, $290.00, is roughly what BAP is worth if this bites instead.

Read the full bull and bear case on BAP, including what would have to change to break either one. Walnut is not an investment adviser.

A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Credicorp Ltd.'s investor relations page or your broker.

• Share price: ~$387
• Market cap: ~$30.7B
• Revenue (TTM): ~$6.3B
• Net income (TTM): ~$2.07B
• P/E (trailing / forward): ~14.9x / ~12.9x
• Dividend yield: ~3.8% (~$14.73 per share)

Trailing EPS of ~$25.98 grew roughly 25% year over year, so the ~14.9x multiple is being paid on already-elevated earnings rather than on a depressed base. Q1 2026 net income of ~S/2.06 billion at ~21.1% ROE is the record quarter that multiple discounts, and the next print (2Q26) was scheduled for August 13, 2026. The ~3.8% yield is the part of the return that does not depend on the multiple holding.

Other names that sit close to BAP: same theme, named as a direct competitor, or held beside it in the same funds. Each entry says which. Worth a look if you are thinking about diversification within a thesis rather than concentration on one ticker.

There are three common ways to get BAP exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic portfolio, so BAP sits alongside other stocks that express the same thesis.

Walnut takes the portfolio route. Describe a thesis where BAP fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.

New to this? Start with how to invest in stocks, see how to analyze a stock with AI, or compare the best AI stock analyzers.

Credicorp is a structurally dominant Peruvian bank earning around 20% on equity with a fast-scaling digital wallet, priced at a discount that exists almost entirely because of Peru's politics.

Whether BAP is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is BAP a buy or a sell?, and where the stock could go from here in the BAP stock forecast.

For income investors, whether BAP pays a dividend and how the payout looks is covered in does BAP pay a dividend? And to weigh BAP against a peer, read the full side-by-side comparisons: BAP vs IFS and BAP vs BBVA.