• In January 2026, Credicorp Ltd. reported that Tenpo, its digital banking subsidiary in Chile, received operating authorization from the Comisión para el Mercado Financiero (CMF), the country’s financial markets regulator.
• This authorization formally opens the door for Tenpo to broaden its digital banking reach within Chile, strengthening Credicorp’s presence in a key regional market.
• With Tenpo now authorized to operate as a digital bank in Chile, we’ll examine how this milestone influences Credicorp’s broader investment narrative.

Find companies with promising cash flow potential yet trading below their fair value.

What Is Credicorp's Investment Narrative?

To own Credicorp today, you have to believe in a regional financial group that can keep compounding its core Peruvian banking and insurance franchise while selectively layering on new growth engines like digital banking. The recent CMF authorization for Tenpo in Chile adds an interesting, but likely not yet transformational, short term catalyst: it reinforces the investment case around fee and customer growth potential in a large neighboring market without immediately shifting the earnings profile that underpins current valuation and dividend decisions. The bigger near term swing factors still look tied to credit quality and the bank’s already high level of bad loans, plus how funding costs evolve against the margin guidance the company has set. Tenpo’s push mainly nudges the risk mix toward execution in new markets rather than changing it outright.

However, investors should not overlook how elevated bad loans could pressure that story. Credicorp's shares have been on the rise but are still potentially undervalued by 29%. Find out what it's worth.

Exploring Other Perspectives

The four fair value estimates from the Simply Wall St Community span roughly US$213 to nearly US$493 per share, underscoring how differently investors see Credicorp’s potential. Set against the newer Tenpo catalyst and existing credit risk concerns, this spread invites you to compare multiple viewpoints before deciding how much of the group’s future you want to price in.

Explore 4 other fair value estimates on Credicorp - why the stock might be worth as much as 41% more than the current price!

Build Your Own Credicorp Narrative

Disagree with this assessment? Create your own narrative in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your Credicorp research is our analysis highlighting 3 key rewards and 2 important warning signs that could impact your investment decision.
• Our free Credicorp research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Credicorp's overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.