DOCSLIB.ORG

Credicorp Ltd. and Subsidiaries

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Credicorp Ltd. and Subsidiaries CREDICORP LTD. AND SUBSIDIARIES INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS AS OF SEPTEMBER 30, 2020, AND DECEMBER 31, 2019 AND FOR THE THREE AND NINE-MONTH PERIODS ENDED SEPTEMBER 30, 2020 AND 2019 CREDICORP LTD. AND SUBSIDIARIES INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS AS OF SEPTEMBER 30, 2020 AND DECEMBER 31, 2019 AND FOR THE THREE AND NINE-MONTH PERIODS ENDED SEPTEMBER 30, 2020 AND 2019 CONTENT Pages Interim condensed consolidated statement of financial position 1 Interim condensed consolidated statement of income 2 - 3 Interim condensed consolidated statement of comprehensive income 4 Interim condensed consolidated statement of changes in net equity 5 Interim condensed consolidated statement of cash flows 6 - 8 Notes to the interim condensed consolidated financial statements 9 - 123 US$ = United States dollar S/ = Sol CREDICORP LTD. AND SUBSIDIARIES INTERIM CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS OF SEPTEMBER 30, 2020 (UNAUDITED) AND DECEMBER 31, 2019 (AUDITED) As of September As of December As of September As of December Note 30, 2020 31, 2019 Note 30, 2020 31, 2019 S/(000) S/(000) S/(000) S/(000) Assets Liabilities Cash and due from banks: Deposits and obligations: 14 Non-interest-bearing 6,916,416 6,177,356 Non-interest-bearing 45,680,396 28,316,170 Interest-bearing 28,221,543 19,809,406 Interest-bearing 91,522,278 83,689,215 4 35,137,959 25,986,762 137,202,674 112,005,385 Cash collateral, reverse repurchase agreements and Payables from repurchase agreements and securities lending 5(b) 27,778,922 7,678,016 securities borrowing 5(a) 2,821,116 4,288,524 Due to banks and correspondents 15 6,601,722 8,841,732 Banker’s acceptances outstanding 256,238 535,222 Investments: Accounts payable to reinsurers 9(b) 222,194 216,734 At fair value through profit or loss 6(a) 6,658,680 3,850,762 Lease liabilities 12(b) 777,543 847,504 Financial liabilities at fair value through profit or loss 352,889 493,700 At fair value through other comprehensive income 38,919,694 24,614,050 Technical reserves for insurance claims and premiums 16 11,093,848 9,950,233 At fair value through other comprehensive income Bonds and notes issued 17 16,425,832 14,946,363 pledged as collateral 1,793,137 1,588,673 Deferred tax liabilities, net 117,233 134,204 6(b) 40,712,831 26,202,723 Other liabilities 13 6,790,285 5,481,288 Total liabilities 207,619,380 161,130,381 Amortized cost 1,268,035 1,907,738 Amortized cost pledged as collateral 3,009,440 1,569,308 6(c) 4,277,475 3,477,046 Equity, net 18 Loans, net: 7 Equity attributable to Credicorp´s equity holders: Loans, net of unearned income 136,148,711 115,609,679 Capital stock 1,318,993 1,318,993 Allowance for loan losses (9,656,383) (5,123,962) Treasury stock (209,305) (207,839) 126,492,328 110,485,717 Capital surplus 157,767 226,037 Reserves 21,405,740 19,437,645 Financial assets designated at fair value through profit or loss 8 729,059 620,544 Other reserves 1,224,135 1,088,189 Premiums and other policies receivable 9(a) 801,480 838,731 Retained earnings (losses) (302,647) 4,374,935 Accounts receivable from reinsurers and coinsurers 9(b) 833,039 791,704 23,594,683 26,237,960 Property, furniture and equipment, net 10 1,359,122 1,428,173 Due from customers on acceptances 256,238 535,222 Non-controlling interest 472,087 508,350 Intangible assets and goodwill, net 11 2,474,665 2,552,274 Total equity, net 24,066,770 26,746,310 Right-of-use assets, net 12(a) 730,970 839,086 Deferred tax assets, net 1,744,347 520,953 Other assets 13 6,656,841 5,458,470 Total assets 231,686,150 187,876,691 Total liabilities and net equity 231,686,150 187,876,691 The accompanying notes are an integral part of these interim condensed consolidated financial statements. - 1 - CREDICORP LTD. AND SUBSIDIARIES INTERIM CONDENSED CONSOLIDATED STATEMENT OF INCOME FOR THE THREE AND NINE MONTH PERIODS ENDED SEPTEMBER 30, 2020 AND 2019 (UNAUDITED) For the three-month For the nine-month periods ended September periods ended September 30, (unaudited) 30, (unaudited) 2020 2019 2020 2019 S/(000) S/(000) S/(000) S/(000) Interest and similar income 22 2,953,570 3,123,672 8,844,548 9,208,969 Interest and similar expenses 22 (791,875) (847,272) (2,342,426) (2,482,998) Net interest, similar income and expenses 2,161,695 2,276,400 6,502,122 6,725,971 Provision for credit losses on loan portfolio 7(c) (1,348,726) (568,034) (5,295,095) (1,531,364) Recoveries of written-off loans 42,821 65,262 107,252 197,087 Provision for credit losses on loan portfolio, net of recoveries (1,305,905) (502,772) (5,187,843) (1,334,277) Net interest, similar income and expenses, after provision for credit losses on loan portfolio 855,790 1,773,628 1,314,279 5,391,694 Other income Commissions and fees 23 775,805 815,403 2,039,623 2,385,575 Net gain on foreign exchange transactions 155,028 188,073 471,319 554,854 Net gain on securities 24 147,202 172,269 341,262 422,065 Net gain (loss) on derivatives held for trading (21,297) 2,158 22,491 (1,000) Net gain from exchange differences 6,361 (11,775) 8,652 1,778 Others 29 39,498 133,128 192,464 323,757 Total other income 1,102,597 1,299,256 3,075,811 3,687,029 Insurance underwriting result Net premiums earned 25 595,394 604,877 1,775,391 1,773,665 Net claims incurred for life, general and health insurance contracts 26 (513,091) (385,487) (1,215,375) (1,143,992) Acquisition cost (86,643) (94,239) (286,749) (277,186) Total insurance underwriting result (4,340) 125,151 273,267 352,487 Other expenses Salaries and employee benefits 27 (803,438) (845,345) (2,520,619) (2,525,497) Administrative expenses 28 (588,994) (570,290) (1,636,715) (1,661,100) Depreciation and amortization (124,510) (114,533) (373,035) (329,711) Goodwill impairment loss 11(b) (63,978) − (63,978) − Depreciation for right-of-use assets (43,724) (50,662) (138,386) (125,472) Others 29 (177,276) (98,404) (475,734) (190,204) Total other expenses (1,801,920) (1,679,234) (5,208,467) (4,831,984) The accompanying notes are an integral part of these interim condensed consolidated financial statements. - 2 - INTERIM CONDENSED CONSOLIDATED STATEMENT OF INCOME (CONTINUED) For the three-month For the nine-month periods ended September periods ended September 30, (unaudited) 30, (unaudited) 2020 2019 2020 2019 S/(000) S/(000) S/(000) S/(000) Profit (loss) before income tax 152,127 1,518,801 (545,110) 4,599,226 Income tax (55,539) (403,221) 213,437 (1,239,852) Net profit (loss) 96,588 1,115,580 (331,673) 3,359,374 Attributable to: Credicorp’s equity holders 104,606 1,093,035 (306,510) 3,292,474 Non-controlling interest (8,018) 22,545 (25,163) 66,900 96,588 1,115,580 (331,673) 3,359,374 Net basic and dilutive earnings (losses) per share attributable to Credicorp's equity holders (in Soles): Basic 30 1.32 13.74 (3.86) 41.42 Diluted 30 1.32 13.71 (3.85) 41.34 The accompanying notes are an integral part of these interim condensed consolidated financial statements. - 3 - CREDICORP LTD. AND SUBSIDIARIES INTERIM CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE THREE AND NINE MONTH PERIODS ENDED SEPTEMBER 30, 2020 AND 2019 (UNAUDITED) For the three-month For the nine-month periods ended periods ended September 30, September 30, (unaudited) (unaudited) 2020 2019 2020 2019 S/(000) S/(000) S/(000) S/(000) Net profit (loss) for the period 96,588 1,115,580 (331,673) 3,359,374 Other comprehensive income: To be reclassified to profit or loss in subsequent periods: Net result on investments at fair value through other comprehensive income 84,498 296,081 32,195 1,110,525 Income tax (858) (4,438) 7,605 (22,779) 83,640 291,643 39,800 1,087,746 Net movement on cash flow hedges 1,519 (956) (18,522) (27,243) Income tax (578) 193 4,902 7,415 941 (763) (13,620) (19,828) Other reserves (61,019) − (123,911) − (61,019) − (123,911) − Exchange differences on translation of foreign operations 58,569 50,035 148,184 (19,204) 58,569 50,035 148,184 (19,204) Total 82,131 340,915 50,453 1,048,714 Not to be reclassified to profit or loss in subsequent periods: Net gain in equity instruments designated at fair value through other comprehensive income (10,322) (34,890) 80,649 100,450 Income tax 565 2,072 4,895 3,628 (9,757) (32,818) 85,544 104,078 − − Total (9,757) (32,818) 85,544 104,078 Total other comprehensive income 72,374 308,097 135,997 1,152,792 − − Total comprehensive income for the period, net of income tax 168,962 1,423,677 (195,676) 4,512,166 Attributable to: Credicorp's equity holders 176,802 1,396,789 (170,564) 4,429,011 Non-controlling interest (7,840) 26,888 (25,112) 83,155 168,962 1,423,677 (195,676) 4,512,166 The accompanying notes are an integral part of these interim condensed consolidated financial statements.
Load more

Recommended publications
  • 20160803 Banco Bancolombia.Xlsx
    COD. NOMBRE SUCURSAL- TELÉFONO BANCO DEPARTAMENTO CIUDAD DIRECCIÓN INDICATIVO HORARIO NORMAL HORARIO ADICIONAL HORARIO ATENCION SABADOS SUCURSAL OFICINA OFICINA 5642735 - BANCOLOMBIA 709 ABREGO NORTE DE SANTANDER ABREGO CARRERA 14 N° 7 – 93 97 5642023 8:00 - 11:30 AM - 14:00 - 16:30 PM BANCOLOMBIA 890 ACACIAS META ACACIAS CALLE 14 No 14-20-24 98 6569060 8:00 - 17:00 PM BANCOLOMBIA 297 AGUACHICA CESAR AGUACHICA CALLE 5 N° 17 - 80 95 5651394 8:30 - 18:00 PM BANCOLOMBIA 643 AGUADAS CALDAS AGUADAS CARRRERA 5 N° 6 - 18 96 8514600 8:00 - 12:00 AM - 14:00 - 16:00 PM BANCOLOMBIA 365 AGUAZUL CASANARE AGUAZUL CALLE 10 N° 17 - 06 98 6384247 8:00 - 16:30 PM 16:30 - 18:00 PM 8389569 BANCOLOMBIA 485 AIPE HUILA AIPE CALLE 4 N° 4 - 29 98 8389673 8:00 - 11:30 AM - 14:00 - 16:30 PM BANCOLOMBIA 861 ALBANIA LA GUAJIRA ALBANIA Calle 3 N° 3-38 Albania Guajira 0 8:00 - 11:30 AM - 14:00 - 16:30 PM 847 22 19 – 847 22 20 – BANCOLOMBIA 520 AMAGA ANTIOQUIA AMAGÁ Calle 51 N° 49-43 94 847 22 21 8:00 - 14:00 PM BANCOLOMBIA 443 AMBALEMA TOLIMA AMBALEMA CALLE 8A N° 4 - 23 98 2856163 8:00 - 11:30 AM - 14:00 - 16:00 PM BANCOLOMBIA 384 ANAPOIMA CUNDINAMARCA ANAPOIMA CARRERA 3 N° 3 - 33 91 8993587 8:00 - 15:30 PM BANCOLOMBIA 438 ANDES ANTIOQUIA ANDES CARRERA 50 N° 49A - 52 94 8417262 8:00 - 14:00 PM BANCOLOMBIA 708 ANSERMA CALDAS ANSERMA CARRERA 4 N° 9 - 06 96 8531419 8:00 - 12:00 AM - 14:00 - 16:00 PM BANCOLOMBIA 549 PLAZA DEL RIO ANTIOQUIA APARTADO CALLE 100 CON CARRERA 103 94 8280610 8:00 - 16:00 PM BANCOLOMBIA 645 APARTADO ANTIOQUIA APARTADO CALLE 96 N° 99A - 11 94 8280083
    [Show full text]
  • Fidelity® Emerging Markets Index Fund
    Quarterly Holdings Report for Fidelity® Emerging Markets Index Fund January 31, 2021 EMX-QTLY-0321 1.929351.109 Schedule of Investments January 31, 2021 (Unaudited) Showing Percentage of Net Assets Common Stocks – 92.5% Shares Value Shares Value Argentina – 0.0% Lojas Americanas SA rights 2/4/21 (b) 4,427 $ 3,722 Telecom Argentina SA Class B sponsored ADR (a) 48,935 $ 317,099 Lojas Renner SA 444,459 3,368,738 YPF SA Class D sponsored ADR (b) 99,119 361,784 Magazine Luiza SA 1,634,124 7,547,303 Multiplan Empreendimentos Imobiliarios SA 156,958 608,164 TOTAL ARGENTINA 678,883 Natura & Co. Holding SA 499,390 4,477,844 Notre Dame Intermedica Participacoes SA 289,718 5,003,902 Bailiwick of Jersey – 0.1% Petrobras Distribuidora SA 421,700 1,792,730 Polymetal International PLC 131,532 2,850,845 Petroleo Brasileiro SA ‑ Petrobras (ON) 2,103,697 10,508,104 Raia Drogasil SA 602,000 2,741,865 Bermuda – 0.7% Rumo SA (b) 724,700 2,688,783 Alibaba Health Information Technology Ltd. (b) 2,256,000 7,070,686 Sul America SA unit 165,877 1,209,956 Alibaba Pictures Group Ltd. (b) 6,760,000 854,455 Suzano Papel e Celulose SA (b) 418,317 4,744,045 Beijing Enterprises Water Group Ltd. 2,816,000 1,147,720 Telefonica Brasil SA 250,600 2,070,242 Brilliance China Automotive Holdings Ltd. 1,692,000 1,331,209 TIM SA 475,200 1,155,127 China Gas Holdings Ltd. 1,461,000 5,163,177 Totvs SA 274,600 1,425,346 China Resource Gas Group Ltd.
    [Show full text]
  • Estudio Comparativo De Sostenibilidad Entre Las Entidades
    ESTUDIO COMPARATIVO DE SOSTENIBILIDAD ENTRE LAS ENTIDADES FINANCIERAS BANCOLOMBIA Y BANCO BRADESCO DE BRASIL Lina Marcela Hernández Ortega Lucia Galvis Quintero Sara Cristina Vahos Pérez Estudiantes Universidad de San Buenaventura –Seccional Medellín Facultad Ciencia Empresariales Programa Administración de Negocios Medellín 2012 2 ESTUDIO COMPARATIVO DE SOSTENIBILIDAD ENTRE LAS ENTIDADES FINANCIERAS BANCOLOMBIA Y BANCO BRADESCO DE BRASIL ESTUDIO COMPARATIVO DE SOSTENIBILIDAD ENTRE LAS ENTIDADES FINANCIERAS BANCOLOMBIA Y BANCO BRADESCO DE BRASIL Lina Marcela Hernández Ortega Lucia Galvis Quintero Sara Cristina Vahos Pérez Estudiantes Germán Escobar Aristizábal Asesor de Trabajo de Grado Trabajo de grado para optar el título de Administrador de Negocios Universidad de San Buenaventura –Seccional Medellín Facultad Ciencia Empresariales Programa Administración de Negocios Medellín 2012 3 ESTUDIO COMPARATIVO DE SOSTENIBILIDAD ENTRE LAS ENTIDADES FINANCIERAS BANCOLOMBIA Y BANCO BRADESCO DE BRASIL TABLA DE CONTENIDO INTRODUCCION ........................................................................................................................................ 7 1. PROBLEMA DE INVESTIGACIÓN .............................................................................................. 9 1.1. Descripción del Problema. ................................................................................................................ 9 1.2 Formulación del Problema ............................................................................................................
    [Show full text]
  • Arbitraje Con Adrs: Un Estudio De Caso Sectorial Para Empresas De Colombia, México, Brasil Y Chile
    Arbitraje con ADRs: un estudio de caso sectorial para empresas de Colombia, México, Brasil y Chile Arbitrage with ADRs: a sectorial case study for companies in Colombia, Mexico, Brazil and Chile Nicolás Acevedo V. * Daniela Fleisman V. ** Angélica Montoya V. *** Andrés Mauricio Mora C. **** Fecha de recepción: Fecha de aprobación: * (FRQRPLVWD 8QLYHUVLGDG ($),7 0DJLVWHU HQ (FRQRPtD ,68 *HUHQWH GH ,QYHVWLJDFLyQ\'HVDUUROORGH3URGXFWRV9DORUHV%DQFRORPELD&RORPELD &RUUHRHOHFWUyQLFRQDYHOH]#\DKRRFRP ** (FRQRPLVWD8QLYHUVLGDG($),7$QDOLVWD3RUWDIROLRV3ULYDGRV%ROVD\5HQWD6$ &RORPELD&RUUHRHOHFWUyQLFRGIOHLVPDQ#EROVD\UHQWDFRP *** (FRQRPLVWD 8QLYHUVLGDG ($),7 (MHFXWLYD &RPHUFLDO 9DORUHV %DQFRORPELD &RORPELD&RUUHRHOHFWUyQLFRDQJHOLPR#9DORUHV%DQFRORPELDFRP **** Administrador de Negocios, Especialista en Finanzas, Magíster en Administración )LQDQFLHUD 0DJtVWHU HQ &LHQFLDV GH OD $GPLQLVWUDFLyQ 8QLYHUVLGDG ($),7 (VSHFLDOLVWDHQ$QiOLVLV%XUViWLO,QVWLWXWRGH(VWXGLRV%XUViWLOHV ,(% -HIHGHO 'HSDUWDPHQWRGH)LQDQ]DV8QLYHUVLGDG($),7&RORPELD &RUUHRHOHFWUyQLFRDPRUDF#HDILWHGXFR ISSN 1657-4206 I Año 15 I No. 33 I julio-diciembre 2011 I pp. 7-23 I Medellín-Colombia 8 Arbitraje con ADRs: un estudio de caso sectorial para empresas de Colombia, México, Brasil y Chile 1,&2/É6$&(9('29 '$1,(/$)/(,60$19 $1*e/,&$02172<$9 $1'5e60$85,&,2025$& Resumen (O SUHVHQWH DUWtFXOR HV OD FRQWLQXDFLyQ GHO DUWtFXOR ´*HQHUDOLGDGHV GH ORV $'5V 8Q estudio de caso sectorial para empresas de Colombia, México, Brasil y Chile” y al igual que este, es un subproducto de la investigación “Arbitraje con
    [Show full text]
  • Annual Report
    ANNUAL REPORT 2018 Content 04 05 08 Statement of Overview Letter from Responsibility the Chairman of the Board 12 18 24 Economic Credicorp Capital, Market Environment Value and Shareholder Structure 28 40 62 Financial Lines of Business Risk management Results 71 89 94 Corporate Financial Annexes governance and Results social responsibility Statement of Responsibility “This document contains truthful information regarding business developments at Credicorp Ltd. and Subsidiaries in 2018. The signatories shall be liable, within the ambit of their faculties according to the norms of the Civil Code, for damages that any lack of veracity or insufficiency that the contents of these documents may generate.” Cesar Rios Briceño Jose Luis Muñoz Rivera Chief Financial Officer Head of Accounting C.P.C. N°14902 27.02.2019 4 Annual Report 2018 Overview Group overview The result obtained in 2018 is proof of Credicorp’s solid In this context, Credicorp continues to rank as the country’s position and has allowed us to maintain outstanding levels premier financial group and has posted results that reflect of profitability despite a context characterized by high the dynamism of each of its businesses. uncertainty and volatility both locally and internationally. Total Income S/ 13,883 million1 Growth of 1.7% versus 2017. Net income (attributable to Credicorp) S/ 3,984 million Dropped 2.6% with regard to 2017. Loan Portfolio S/ 110,759 million Expansion of 10.2% with regard to 2017’s level. Clients >8million in the universal banking business. >0.9million in the microfinance business. >1.2million in the insurance business. >2.1million in the pension fund business.
    [Show full text]
  • Annual Report 2020
    ANNUAL REPORT 2020 Employment, investment and sustainability STATEMENT OF RESPONSIBILITY “To the best of our knowledge this document contains truthful and sufficient information regarding the development of the business of Southern Copper Corporation (“SCC”) during 2020. SCC takes responsibility for its contents according to applicable requirements”. Andres Ferrero Ghislieri Raul Jacob Ruisanchez General Counsel Vice-President Finance and Chief Financial Officer CONVERSION INFORMATION: All tonnages in this annual report are metric tons unless otherwise noted. To convert to short tons, multiply by 1.102. All distances are in kilometers, to convert to miles, multiply by 0.62137. All ounces are troy ounces. U.S. dollar amounts represent either historical dollar amounts, where appropriate, or U.S. dollar equivalents translated in accordance with generally accepted accounting principles in the United States. “SCCO”, “SCC”, “Southern Copper” or the “Company” includes Southern Copper Corporation and its consolidated subsidiaries. IA GMX 2020 – SOUTHERN COPPER INDEX Letter to shareholders 5 Production statistics 10 Copper reserves 12 Selected and financial data 13 Capital investment program and exploration Expansion & modernization 15 Environmental and social matters 21 Results of operations For the years ended december 31, 2020, 2019 and 2018 42 Environmental affairs 46 General information Description of operations and development regarding the issuing entity 52 Members of the board of directors 94 Shovel loading dump truck at Cuajone mine, Peru. 04 > 05 IA GMX 2020 – SOUTHERN COPPER LETTER TO SHAREHOLDERS In 2020, copper production topped 1 million tons, a new milestone in the Company’s history. Growth in copper production was principally attributable to an increase in production at our Cuajone (+7.8%), La Caridad (+1.8%) and the IMMSA mines (+24.6%).
    [Show full text]
  • Interim Condensed Consolidated Financial Statements As of June 30, 2020 and December 31, 2019 and for the Three and Six Month Periods Ended June 30, 2020 and 2019
    Interim condensed consolidated financial statements As of June 30, 2020 and December 31, 2019 and for the three and six month periods ended June 30, 2020 and 2019 CREDICORP LTD. AND SUBSIDIARIES Interim condensed consolidated financial statements as of June 30, 2020 and December 31, 2019 and for the three and six month periods ended June 30, 2020 and 2019 Content Pages Interim condensed consolidated statement of financial position 1 Interim condensed consolidated statement of income 2 - 3 Interim condensed consolidated statement of comprehensive income 4 Interim condensed consolidated statement of changes in net equity 5 Interim condensed consolidated statement of cash flows 6 - 8 Notes to the interim condensed consolidated financial statements 9 - 111 US$ = United States dollar S/ = Sol CREDICORP LTD. AND SUBSIDIARIES Interim condensed consolidated statement of financial position As of June 30, 2020 (unaudited) and December 31, 2019 (audited) As of June 30, As of December As of June 30, As of December Note 2020 31, 2019 Note 2020 31, 2019 S/(000) S/(000) S/(000) S/(000) Assets Liabilities Cash and due from banks: Deposits and obligations: 14 Non-interest-bearing 6,685,864 6,177,356 Non-interest-bearing 41,310,487 28,316,170 Interest-bearing 29,430,518 19,809,406 Interest-bearing 88,353,845 83,689,215 4 36,116,382 25,986,762 129,664,332 112,005,385 Cash collateral, reverse repurchase agreements and Payables from repurchase agreements and securities lending 5(b) 22,437,742 7,678,016 securities borrowing 5(a) 2,920,789 4,288,524 Due to banks
    [Show full text]
  • Actualización Conjunta De Nuestro Universo De Cobertura
    Actualización conjunta de nuestro universo de cobertura Mercado accionario Análisis fundamental en medio de la pandemia colombiano Dirección de Investigaciones Económicas, Sectoriales y de Mercados Julio de 2020 Análisis fundamental en medio de la pandemia 47% sobreponderar, 5% Neutral, 37% subponderar y 11% Bajo Revisión La incertidumbre y el miedo hacen una mezcla explosiva para los mercados financieros, generando descalces de valor como los que, en nuestra opinión, vivimos en la actualidad. Esta sobrerreacción a las noticias económicas negativas en medio del pánico (covid-19) es normal en el corto plazo, abriendo oportunidades de inversión desde un punto de vista fundamental para portafolios que quieran apostarle a la recuperación económica. Actualizamos nuestro universo de cobertura realizando diferentes ajustes a nuestra metodología de valoración, entre las que destacamos ajustes en la tasa de descuento, expectativas de crecimiento en los diferentes sectores económicos, al igual que nuevas proyecciones macroeconómicas para Colombia y los países de la región. Con base en lo anterior, concluimos que el mercado colombiano presenta un atractivo descuento fundamental, con un índice COLCAP que presenta un potencial de valorización del 38,9%. Es importante tener presente que ninguna compañía nos arroja un potencial de valorización negativo, en otras palabras, la recomendación de Subponderar obedece a que dichos activos rentarán un 5% menos que la expectativa fundamental del índice Colcap Nunca antes el trabajo de un analista fundamental había sido tan complejo, pues las compañías de cara a la coyuntura han dejado de dar su visión de expectativa de resultados para 2020, lo que incrementa el nivel de riesgo de nuestras recomendaciones.
    [Show full text]
  • Códigos Entidades En Bvc
    CÓDIGOS ENTIDADES EN BVC Para el registro registro de instrumentos Financieros Derivados y productos estructurados celebrados en el mercado OTC, debe tenerse en cuenta la siguiente codificación para la identificación en el sistema. Código Nombre entidad Entidad 1 ADCAP COLOMBIA S.A COMISIONISTA DE BOLSA 2 CORREDORES DAVIVIENDA S.A. 3 AFIN S.A. 4 HELM COMISIONISTA DE BOLSA S.A 5 BBVA - VALORES COLOMBIA S.A. 7 ACCIONES Y VALORES S.A. 10 VALORES BANCOLOMBIA S.A. C.B. 13 VALORALTA S.A COMISIONISTA DE BOLSA 18 ALIANZA VALORES S.A. 26 PROFESIONALES DE BOLSA S.A 29 CREDICORP CAPITAL COLOMBIA S.A 34 COMPASS GROUP S.A. 35 CITIVALORES S.A. 37 ULTRASERFINCO S.A. 45 CASA DE BOLSA S.A. 50 BTG PACTUAL COLOMBIA S.A COMISIONISTA DE BOLSA 51 GLOBAL SECURITIES COLOMBIA S.A 56 SERVIVALORES GNB SUDAMERIS 57 SCOTIA SECURITIES S.A 58 OLD MUTUAL VALORES S.A C de B. 62 LARRAIN VIAL COLOMBIA S.A COMISIONISTA DE BOLSA 228 CASA DE BOLSA - CARTERAS COLECTIVAS 305 COLFONDOS S.A. 309 BANCOLOMBIA S.A. 317 CAPITALIZADORA COLPATRIA S.A. 318 BANCO COLPATRIA RED MULTIBANCA S.A 320 CORPBANCA INVESTMENT TRUST COLOMBIA S.A 321 FIDUCIARIA POPULAR S.A. 332 SERVITRUST GNB SUDAMERIS S.A. 333 BANCO BCSC-FUNDACION SOCIAL S.A. 336 FIDUCIARIA COLMENA S.A. 340 RIESGOS LABORALES COLMENA S.A 341 CAPITALIZADORA COLMENA 344 ALIANZA FIDUCIARIA S.A. 348 FIDUCIARIA DE OCCIDENTE S.A. 353 FIDUCIARIA LA PREVISORA S.A. 354 BANCO DE BOGOTA S.A. 356 PORVENIR S.A. SOC ADM DE PENSION 359 BANCO GNB SUDAMERIS S.A.
    [Show full text]
  • Corporate Presentation September 2019 Disclaimer
    Corporate Presentation September 2019 Disclaimer Grupo Aval Acciones y Valores S.A. (“Grupo Aval”) is an issuer of securities in Colombia and in the United States, registered with Colombia’s National Registry of Shares and Issuers (Registro Nacional de Valores y Emisores) and the United States Securities and Exchange Commission (“SEC”). As such, it is subject to compliance with securities regulation in Colombia and applicable U.S. securities regulation. All of our banking subsidiaries (Banco de Bogotá, Banco de Occidente, Banco Popular and Banco AV Villas), Porvenir and Corficolombiana, are subject to inspection and supervision as financial institutions by the Superintendency of Finance. Grupo Aval is now also subject to the inspection and supervision of the Superintendency of Finance as a result of Law 1870 of 2017, also known as Law of Financial Conglomerates, which came in effect on February 6, 2019. Grupo Aval, as the holding company of its financial conglomerate is responsible for the compliance with capital adequacy requirements, corporate governance standards, risk management and internal control and criteria for identifying, managing and revealing conflicts of interest, applicable to its financial conglomerate. The consolidated financial information included in this document is presented in accordance with IFRS as currently issued by the IASB. Details of the calculations of non-GAAP measures such as ROAA and ROAE, among others, are explained when required in this report. Grupo Aval has adopted IFRS 16 retrospectively from January 1, 2019 but has not restated comparatives for the 2018 reporting period, as permitted under the specific transitional provisions in the standard. The reclassifications and the adjustments arising from the new leasing rules are therefore recognized in the opening Condensed Consolidated Statement of Financial Position on January 1, 2019.
    [Show full text]
  • Schedule of Investments (Unaudited) Blackrock Advantage Emerging Markets Fund January 31, 2021 (Percentages Shown Are Based on Net Assets)
    Schedule of Investments (unaudited) BlackRock Advantage Emerging Markets Fund January 31, 2021 (Percentages shown are based on Net Assets) Security Shares Value Security Shares Value Common Stocks China (continued) China Life Insurance Co. Ltd., Class H .................. 221,000 $ 469,352 Argentina — 0.0% China Longyuan Power Group Corp. Ltd., Class H ....... 52,000 76,119 (a) 313 $ 60,096 Globant SA .......................................... China Mengniu Dairy Co. Ltd.(a) ......................... 15,000 89,204 Brazil — 4.9% China Merchants Bank Co. Ltd., Class H ................ 36,000 275,683 Ambev SA ............................................. 236,473 653,052 China Overseas Land & Investment Ltd.................. 66,500 151,059 Ambev SA, ADR ....................................... 94,305 263,111 China Pacific Insurance Group Co. Ltd., Class H......... 22,000 90,613 B2W Cia Digital(a) ...................................... 20,949 315,188 China Railway Group Ltd., Class A ...................... 168,800 138,225 B3 SA - Brasil Bolsa Balcao............................. 33,643 367,703 China Resources Gas Group Ltd. ....................... 30,000 149,433 Banco do Brasil SA..................................... 15,200 94,066 China Resources Land Ltd. ............................. 34,000 134,543 BRF SA(a).............................................. 22,103 85,723 China Resources Pharmaceutical Group Ltd.(b) .......... 119,500 62,753 BRF SA, ADR(a) ........................................ 54,210 213,045 China Vanke Co. Ltd., Class A .......................... 67,300 289,157 Cia de Saneamento de Minas Gerais-COPASA .......... 52,947 150,091 China Vanke Co. Ltd., Class H .......................... 47,600 170,306 Duratex SA ............................................ 19,771 71,801 CITIC Ltd............................................... 239,000 186,055 Embraer SA(a).......................................... 56,573 90,887 Contemporary Amperex Technology Co. Ltd., Class A .... 1,700 92,204 Gerdau SA, ADR ......................................
    [Show full text]
  • Credicorp Capital Asset Management Fund Société D'investissement À Capital Variable Luxembourg AUDITED ANNUAL REPORT AS AT
    Credicorp Capital Asset Management Fund Société d’Investissement à Capital Variable Luxembourg AUDITED ANNUAL REPORT AS AT 31 DECEMBER 2019 R.C.S. Luxembourg B 188.822 Subscriptions cannot be accepted on the basis of this financial report. Subscriptions are only valid if made on the basis of the current Prospectus, the Key Investor Information Document, accompanied by a copy of the latest annual report or a copy of the subsequent semi-annual report if it has been published. Credicorp Capital Asset Management Fund Table of contents Organisation of the Fund 3 Investment manager’s report on the Management of the Fund 7 Report of the Réviseur d’Entreprises Agréé 10 Statistical Information 12 Combined Statement of Net Assets 13 Combined Statement of Changes in Net Assets 14 Credicorp Capital Asset Management Fund - Credicorp Capital Latin American Corporate Debt 15 Statement of Net Assets 15 Statement of Changes in Net Assets 16 Portfolio 17 Credicorp Capital Asset Management Fund - Credicorp Capital Latin America Pacific Alliance Fund 22 Statement of Changes in Net Assets 22 Credicorp Capital Asset Management Fund - Credicorp Capital Latin American Investment Grade Fund 23 Statement of Net Assets 23 Statement of Changes in Net Assets 24 Portfolio 25 Credicorp Capital Asset Management Fund - Credicorp Capital Latin American Equity Fund 29 Statement of Net Assets 29 Statement of Changes in Net Assets 30 Portfolio 31 Notes to the Financial Statements 33 Remuneration Disclosure Unaudited 40 Securities financing transactions and the re-use Unaudited 41 ORGANISATION OF THE FUND Credicorp Capital Asset Management Fund BOARD OF DIRECTORS Chairman: Rafael Castellanos (since April 1st 2019) Head of Investment Products, Credicorp Capital Ltd.
    [Show full text]