Latin America’s best bank for SMEs 2017: Banco de Crédito del Perú
Awards for Excellence 2017
The leading Peruvian bank focused on improving client experience through different points of access, particularly digital banking. At the same time, BCP revamped its internal systems for the SME sector to improve cross-selling, boost per-client profitability and to better price SME risk.
Thanks to these initiatives, BCP succeeded in aggressive loan portfolio expansion. Credit extended to non-family SME businesses increased by 15.7% year on year and the bank grew its market share to 25%, while the family-owned segment grew at a slower rate (5.4%, probably reflecting the bank’s already large market share of 36%).
BCP also extended the functionality of its digital SME services, such as immediate transfers and the ability to pay other banks’ cards.