In line with Credicorp’s regional growth strategy, the group’s bank, BCP, announced that its Miami operation has initiated activities as a full bank branch. With this new license, in addition to continuing to serve clients linked to BCP and Credicorp in Peru, Chile, Colombia, Bolivia, among others, it can now also serve companies incorporated in the United States, as detailed in a press release.
After receiving authorization from the US Federal Reserve and the Florida Office of Financial Regulation (OFR), BCP Miami Agency, located in Coral Gables, Florida, officially converted into a branch this past July. Thus, this framework grants it greater operational capabilities to expand business in the US market. Now, the institution will be able to offer financial services to subsidiaries, holding companies, investment vehicles, and other entities linked to its clients’ corporate groups in the United States.
“An increasing number of companies are conducting business between the United States and Latin America, and we want to continue being their partner in that growth. The conversion of BCP Miami into a bank branch allows us to serve more companies and do so with a much more comprehensive offering. For our current clients, this brings added value: if they already work with BCP or any Credicorp company, we already know their business and can accompany them in their operations within the United States as well, all from a single financial institution,” stated Mark Talbot, CEO of BCP Miami, in the press release.
The new branch will continue to offer corporate accounts in US dollars and euros, domestic and international wire transfers, payment solutions, digital banking, treasury products, and corporate financing—services that will now also be available to US-incorporated entities under the bank’s regulatory and compliance standards.
“Our goal is to grow alongside our clients and continue strengthening our value proposition to support them wherever they conduct business. We aim to add around 100 new corporate clients by 2027 and consolidate our position as a benchmark bank for companies operating in the United States and the countries where Credicorp is present,” concluded the executive.
With this milestone, BCP strengthened its international positioning and consolidated its presence in one of the world’s leading financial markets.
By Funds Society