It has promoted the development of traditional distribution channels, like ATMs and branch offices. It has also rolled out an innovative, cost-effective new channel called Agentes BCP, which reaches out to existing and potential customers, making them more accessible to the bank. As a result of this initiative, fee income, which last year generated 32.4% of the bank’s core earnings, registered a 10.2% increase compared with the previous year.
Nearly 20 new branches were opened last year, giving a total network of 237 offices, and 104 ATMs were added, resulting in a total of 655.
Most importantly for BCP, the Agentes BCP initiative proved to be a less expensive version of the ATM, supported by an association with commercial establishments. Thus 490 new PoSs were opened, enabling the bank to achieve a 75% expansion in its distribution network.
BCP now accounts for more than a third of the Peruvian market and is the leader in all major business segments, from corporate and retail banking to asset management and wealth management.
“It is with great pleasure that we receive this award, which represents for us an important recognition of our efforts in making BCP the strongest and most reputable financial institution in our country,” says chief executive Raimundo Morales. “Our excellent performance in the past five years has been a reason to believe in the strengths of our institution and our people – because we have grown aggressively thanks to the efforts of our own employees and managers and of all our costumers and suppliers. This achievement is a result of teamwork at all levels, of which we feel very proud.”
