Credicorp Ltd.

Good morning, everyone. I would like to welcome all of you to the Credit Corp Limited second quarter 2022 conference call. A slide presentation will accompany today's webcast, which is available in the investor section of Credit Corp's website. Today's conference call is being recorded. As a reminder, all participants will be in a listen-only mode. There will be an opportunity for you to ask questions at the end of today's presentation. If you would like to ask a question, please signal by pressing star then 1 on your telephone keypad. If you have connected to the call using the HD web phone on your computer, please use the keypad on your computer screen. If you're using a speaker phone, please make sure your mute function is turned off to allow your signal to reach our equipment. Now, it is my pleasure to turn the conference over to Credit Corp's IRO, Milagros Siguenas. You may begin.

Thank you and good morning everyone. Speaking on today's call will be Gianfranco Ferrari, our Chief Executive Officer, and Cesar Rios, our Chief Financial Officer. Participating in the Q&A session will also be Francesca Raffo, Chief Innovation Officer, Reynaldo Llosa, Chief Risk Officer, Diego Cabero, Head of Universal Banking, and Cesar Rivera, Head of Insurance and Pensions. Before we proceed, I would like to make the following safe harbor statement. Today's call will contain forward-looking statements which are based on management's current expectations and beliefs and are subject to a number of risks and uncertainties. And I refer you to the forward-looking statement section of our earnings release and recent filings with the SEC. We assume no obligation to update or revise any forward-looking statements to reflect new or changed events or circumstances. Gianfranco Ferrari will start the call discussing our strategic initiatives, followed by Cesar Rios, who will comment on the macro environment in which we work, our financial performance, and provide an update on our outlook for 2022. Gianfranco, please go ahead.

Thank you, Milagros. Good morning, everyone. Thank you for joining us today. Please turn to slide three of our Air News presentation. During the quarter, we continue to advance on the execution of strategic initiatives across our operations, increasing digital customers and advancing on financial inclusion. We delivered another set of robust financial results and closed the quarter with a solid balance sheet while maintaining healthy asset quality. Cesar will discuss this in more detail shortly. Importantly, we are well positioned to leverage additional opportunities, even as we navigate the current challenging geopolitical environment. Before I turn to discussing the specific areas of focus at Credit Corp, I'd like to comment on the context in which we're operating, particularly in Peru. Private investment is expected to decline this year, and with a lack of meaningful public investment, our country is underperforming. Unfortunately, We Peruvians have been spending too much time discussing the political turmoil and not enough on addressing those matters that will truly make a difference to the well-being of our fellow citizens and the long-term health of our economy. The country requires its authorities, especially the executive branch, to direct its efforts at promoting political and legal stability in order to assure private investment. as well as to efficiently execute the public budget with the goal of securing better public services for all, instead of enacting short-term measures with damaging inflationary consequences. Indeed, the private sector is doing what it can, and we at Credit Corp. are committed to doing our part. But we certainly need the government to set up its execution capabilities across fundamental areas of our economy, and safeguard our institutional framework to accelerate potential growth. I'd like now to review how Credit Corp stands out in this context and how we are consolidating and strengthening our core business while advancing our strategy of building our own disruptors. Now, please turn to slide four. Over the years, we have built a healthy, profitable, and resilient franchise with the ability to perform well even in this environment. Our strong liquidity and well-capitalized balance sheet, together with our laser focus on risk management and asset quality, underpin our position. We've been very successful in attracting top-notch talent across the board, including those with strong tech capabilities through offering an attractive value proposition. As we look ahead, we will continue pushing on this agenda of attracting and retaining more digitally focused talent to support our aggressive plans for strengthening not only Credit Corp's position as market leader, but also the situation for all the stakeholders in the countries in which we operate. Finally, I would like to note that as management team, we price agility and flexibility, which is particularly important considering how the environment has changed and how our vision for the future is evolving. As such, we are continuously reviewing our entire business portfolio with a strategic long-term view. While we have no specific news at this point, it is important to note that we are guided by our goals of strengthening our leadership position and operating as a top player in each of our chosen markets and segments. Please turn to slide 5. Today, we're fully committed to further consolidating our operations and driving technological innovation across our core business portfolio. In universal banking, our focus is to strengthen our leadership in Peru while focusing on markets where we can hold a leading position. Leveraging our world-class microfinance model, we expect to maintain our leadership position in Peru and prioritized the consolidation of our presence in Colombia. On the insurance front, the goal is to further expand our leading bank insurance channel, while our investment banking and wealth management business were currently reassessing our midterm strategy given the changing environment for this business. Simultaneously, we're leveraging our parenting advantage to enhance our overall operation. Key areas of focus include attracting and retaining top-notch talent, as I previously noted, ensuring the sustained adoption of best-in-class digital capabilities, introducing our robust risk management capabilities across our businesses, while continuing to integrate ESG at the core of each of our lines of businesses. All this underscored by our priority of maintaining solid currency and strong capital position while driving profitable growth. Turning to slide 6, complementing our current business portfolio, we are also selective pursuing disruptive growth opportunities across three distinct horizons over time. The first horizon comprises strengthening our core profit pools. We've already established some very attractive ventures on this front in Peru and Chile and incurred in specific investments. These include YAPE in payments, Tempo in the neobank space, Kulki in acquiring, and others around services for SMEs. The second horizon comprises entering new verticals and markets in Peru and the Andean region, where, for example, we are escalating TIBA in WealthTech which already has presence in Colombia, Chile, and Peru, and currently exploring InsurTech. And finally, our third horizon consists of exploring the most disruptive technologies as enablers of new business models. We've determined an ambition for our disruptive portfolio that could impact our expected ROE in up to 150 basis points this year. We're funding our commitments through internal sources and are more than willing to sacrifice short-term ROE to benefit the strategic sustainability of credit corps businesses. In line with this, we will be actively monitoring and measuring the success of the innovation portfolio based on three complementary metrics we are building. Those ensuring efficiency and diversification of the portfolio, those contributing to credit corps strategic goals, and those securing financial performance. Please turn to slide 7, please. As shown on slide 5, during the quarters, we achieved new milestones that reflect our efforts to become a sustainable business leader. On the environmental front, we focused on developing sustainable solutions for our clients, including BCP's issuance of the first international green bond of the Peruvian banking system. Advancing on the ESG risk management framework, we've completed the pilot of a green taxonomy for a representative sample of our loan group, which will be extended to a full portfolio soon. This is a key enabler to find more sustainable finance opportunities. On the social front, we continue to support financial inclusion and financial education through several of our businesses. IAPE reached a milestone this quarter, registering over 1.9 million financially included individuals since November of 2020. Mibanco has used its lending products to financially include more than 600,000 people over the past seven years. Our financial education initiatives through BCP and Mibanco reached over 140,000 beneficiaries in this quarter. On the SMEs front, Yevo, Mibanco's virtual merchant ecosystem, continues assisting entrepreneurs with digital tools in managing and growing their business. Finally, we recently published our policies on corporate sustainability, human rights and corporate responsible investments, which are available in our website. Now, let me turn to the call to Cesar Rios, who will provide a brief overview of our rating and financial performance for the quarter. Cesar, please go ahead.