Lima, Nov. 01, 2019 (GLOBE NEWSWIRE) --
Lima, PERU, November 1st, 2019 – Credicorp (BAP) announces that, on November 1st, after obtaining the necessary regulatory approvals, it has completed through its subsidiaries Credicorp Holding Colombia S.A.S and Credicorp Capital Fiduciaria S.A., the acquisition of 100% of the capital stock of Ultraserfinco S.A. Comisionista de Bolsa (“Ultraserfinco”) for approximately US$ 41 million. Credicorp Ltd. had reached an agreement for this acquisition with the shareholders of Ultraserfinco on February 12, 2019.
With 50 years of experience, Ultraserfinco is one of the leading financial services firms in Colombia with securities brokerage, asset management and wealth management businesses. With this acquisition, Credicorp Ltd. builds upon its existing Credicorp Capital business to become the undisputed leader in equities and fixed income trading in Colombia. In addition, Ultraserfinco provides an attractive wealth management business, over US$ 1.3 billion of assets under management or custody, and an expanded client coverage footprint with presence in Barranquilla, Bogota, Bucaramanga, Cali, Cartagena and Medellin. Through its subsidiary Ultralat in Miami, Florida, Ultraserfinco also provides clients with access to investment products and services in the international markets.
Credicorp Ltd. (BAP) is the leading financial services holding company in Peru with presence in Chile, Colombia and Bolivia. Credicorp has a diversified business portfolio organized into four lines of business: Universal Banking, through Banco de Credito del Peru - BCP and Banco de Credito de Bolivia; Microfinance, through Mibanco and Encumbra; Insurance & Pension Funds, through Grupo Pacifico and Prima AFP; and Investment Banking & Wealth Management, through Credicorp Capital, Wealth Management at BCP and Atlantic Security Bank.
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