Credicorp Acquires 100% of Helm Bank USA for $180M

Credicorp last night announced that its subsidiary Banco de Credito del Peru has entered into an agreement to acquire 100% of the issued and outstanding shares of Helm Bank USA for $180M, subject to customary price adjustment at closing. Helm Bank, a Florida state-chartered community bank, had $1.1B in assets and $106.8M in shareholders' equity as of September 30. "This acquisition allows us to deepen our ability to serve Latin Americans whose financial lives span both their home countries and the United States. 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," said Gianfranco Ferrari, CEO of Credicorp. The completion and closing of the transaction are subject to customary closing conditions, including regulatory approvals in the United States and Peru.