Banco de Crédito del Perú has agreed to acquire Florida-based Helm Bank in a $180 million deal, BCP’s parent firm, Credicorp, announced last week.
Credicorp gave no timeline for the anticipated completion of the transaction, which requires regulatory approvals in both the U.S. and Peru.
The South American financial services holding company said the acquisition “strengthens [its] strategy to enhance its cross-border capabilities by serving internationally active clients … while preserving Helm Bank’s legacy as a community-focused institution.”
Helm Bank counted $1.1 billion in assets, along with a loan portfolio worth $648.2 million and $106.8 million in shareholder equity as of Sept. 30, according to the Dec. 29 deal announcement.
The vast majority of its loans comprise residential real estate – and 75% of its borrowers have primary homes outside the U.S., the bank disclosed in a December 2024 financial statement.
Helm Bank, regulated by Florida’s Office of Financial Regulation, has locations in Miami and Orlando, and offices in four cities in Colombia, according to its website.
Credicorp, meanwhile, has amassed a presence beyond its native Peru, to encompass Chile, Panama and Bolivia, in addition to Colombia and the U.S., it said Dec. 29.
“Credicorp’s financial strength, trusted reputation and client‑centric philosophy provide a solid foundation for our next chapter,” Helm Bank CEO Mark Crisp said in a statement. “Together, we are well-positioned to expand our impact and deliver greater value to the communities we serve, both in the United States and across Latin America.”
It is unclear whether or how U.S.-incited regime change in Venezuela – Colombia’s neighbor – could affect the financial landscape at either company. Credicorp’s U.S.-listed shares jumped 54% in value over the past year, according to Yahoo Finance.
“This acquisition allows us to deepen our ability to serve Latin Americans whose financial lives span both their home countries and the United States,” Credicorp CEO Gianfranco Ferrari said in a statement. “We believe that Helm Bank’s legacy as a community-focused institution combined with its expertise in serving international clients, aligns perfectly with our strategy. We look forward to strengthening that role and enhancing its capabilities within our broader ecosystem.”
