Credicorp Inclusion Index Puts Peru at 47.7

PERU · BANKING

The Credicorp inclusion index put Peru at 47.7 points in 2026, up from 37.9 in 2021, in the sixth edition of a study published by the financial holding behind Banco de Crédito del Perú (BCP). Credicorp’s research arm, its Banco de Ideas, found that 29% of Peruvians now sit at the highest of three inclusion levels, against 15% in 2021.

For US readers the study matters because Credicorp shares trade in New York under the ticker BAP, and the index describes the customer base that the group’s digital products are built on. It is a research publication rather than an earnings release, so it adds no profit figures to what the group has already reported.

Credicorp made the findings public on Monday 19 October 2026, and Chief Executive Gianfranco Ferrari discussed them with El Comercio on Tuesday 20 October. Our earlier coverage of the group is in Peru’s Credicorp Posts Record $607M Profit on Loan Rebound, and our Credicorp company profile lists its businesses.

What the Credicorp Inclusion Index Measures

The index covers eight Latin American countries and scores each on access to financial products, how often people use them and how people see the quality of the services. Credicorp has now produced the study for six consecutive years.

People are placed on one of three levels, and the top level, called Alcanzado, covers those who hold several products and use them intensively. It also covers people who save and receive their income through the formal system and who view financial institutions positively.

Peru’s overall score rose 9.8 points over five years, from 37.9 in 2021 to 47.7 in 2026. Credicorp says that is the third-largest gain among the eight countries over the period.

El Comercio reported in its interview with Ferrari that the regional index passed 50 points for the first time. Peru’s 47.7 therefore sits below that regional mark.

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Peru’s Digital Wallet Boom

Credicorp found that 69% of Peruvians now have a mobile wallet or digital payment app, one of the highest shares among the eight countries. The study also found that 41% use wallets to pay for food and 39% to buy household or personal goods.

Some 51% of wallet users in Peru make payments every day, the second-highest share among the countries studied. The average number of times Peruvians use financial products rose 24% in a year, from 11.9 times a month in 2025 to 14.7 in 2026.

The share of Peruvians using no financial product at all fell from 49% to 40% over the same year. That still leaves roughly four in ten Peruvians outside the products the index counts.

Perceived access also improved, with 24% of Peruvians saying it is easy to open a savings account or obtain credit in 2026, up from 15% in 2025. That leaves most Peruvians not describing access as easy.

How Peru Compares in the Region

Colombia recorded the biggest one-year gain, 4.7 points between 2025 and 2026, and the biggest cumulative gain since 2021 at 12 points, according to Valora Analitik’s report on the study. That five-year Colombian gain is larger than Peru’s 9.8 points.

On attitudes to wallets, 79% of Argentines call mobile wallets useful, the highest share, followed by 69% of Colombians. That Colombian figure measures perceived usefulness, not ownership, so it should not be set against Peru’s 69% wallet ownership.

Cash remains stubborn elsewhere, with 57% of Colombians saying they always use it for daily spending against a regional average of 50%. A matching Peruvian figure for that question was not found in the coverage reviewed.

Ferrari on Cash, Credit and Yape

Ferrari told El Comercio that the first short-term challenge is interoperability between digital wallets, and that the central bank’s TAPP system, short for Transferencias Automáticas de Pagos Peruanos, should help connect them. He said he is convinced it will help win the battle against cash.

The structural challenge, he said, is credit, which he linked to informality because lenders find it easier to lend when they know an employer and a salary. Digital wallets, he argued, give lenders data that cash payments do not.

Ferrari said two million Peruvians have taken their first formal loan through Yape, the BCP wallet, starting with small and short loans. That figure is his statement in an interview and was not independently verified here.

What It Means for You

Investors who hold Credicorp through its New York shares get a read on how far its wallet and payments business is reaching customers, but the study contains no earnings or forecasts. The group’s next quarterly results will show whether the digital gains reach the income statement.

The index is produced by Credicorp itself, which sells many of the products it measures. Readers should treat it as company research, not as an independent census.

For residents, the figures suggest that paying by phone is common in Peru, though the study does not say how easily newcomers can open a wallet. Our Lima expat city guide covers day-to-day costs, and our Peru economy guide gives the wider background.

What Is Not Known

Credicorp’s own report could not be opened for this article, so every figure rests on Forbes Perú, El Comercio and Valora Analitik, which quote it. The sample size, field dates and margin of error were not stated in the coverage reviewed.

It is not known where Peru ranks among the eight countries, or what the regional score is beyond the 50-point mark. Peru’s cash-use figure and the full country table were not found in the coverage reviewed.

Ferrari’s figure of two million first-time borrowers on Yape has not been independently checked. It is also not known how many of those loans are being repaid, because no repayment data appeared in the coverage reviewed.

Frequently Asked Questions

What is the Credicorp inclusion index?

It is a yearly study by Credicorp’s Banco de Ideas that scores eight Latin American countries on access to financial products, how often they are used and how people rate them. The 2026 edition is the sixth.

What score did Peru get in 2026?

Peru scored 47.7 points, up from 37.9 in 2021. That is a gain of 9.8 points, the third-largest among the eight countries.

How many Peruvians use digital wallets?

Credicorp found that 69% of Peruvians have a mobile wallet or payment app. Among wallet users, 51% make payments every day.

Is the index an earnings report?

No, it is a research study and carries no profit figures. Credicorp reports its earnings separately every quarter.

What does it mean for US investors?

Credicorp shares trade in New York under the ticker BAP, so the index gives context on the group’s customer base. It is company research, not investment advice or a forecast.

Sources: Forbes Perú, 19 October 2026; El Comercio, 20 October 2026; El Comercio interview with Gianfranco Ferrari, 20 October 2026; Valora Analitik, 19 October 2026; Credicorp, publisher of the index.

Editorial responsibility: Matthias Camenzind, Editor-in-Chief · Editorial standards · Report an error