Awards for Excellence 2017
This year the best bank for SMEs is Banco de Crédito del Perú, whose SME division serves over 400,000 clients in Peru across two categories: family businesses and non-family businesses.
The leading Peruvian bank focused on improving client experience through different points of access, particularly digital banking. At the same time, BCP revamped its internal systems for the SME sector to improve cross-selling, boost per-client profitability and to better price SME risk.
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Thanks to these initiatives, BCP succeeded in aggressive loan portfolio expansion. Credit extended to non-family SME businesses increased by 15.7% year on year and the bank grew its market share to 25%, while the family-owned segment grew at a slower rate (5.4%, probably reflecting the bank’s already large market share of 36%).
BCP also extended the functionality of its digital SME services, such as immediate transfers and the ability to pay other banks’ cards. This led to a 96% increase in clients transacting digitally over 2015. Overall, the focus on SMEs paid off.