BanBif stands out with the placement of S/120 million in Negotiable Deposit Certificates.

In a move that highlights its solid positioning in the financial market, BanBif has completed the placement of Negotiable Deposit Certificates (CDNs) totaling S/120 million. This placement has been rated as one of the most successful in the last decade in Peru, demonstrating not only investor confidence but also the growth and stability the institution has achieved in a changing economic context. The demand for these securities was remarkable, reaching S/206 million, which represents an interest that exceeds 1.71 times the amount placed. According to Fernando Pinglo, Manager of the Treasury and Capital Markets Division of BanBif, this high demand is a clear indicator of the appetite investors have for BanBif’s financial issuances. This situation underscores the trust that the institution has cultivated in the capital markets over the years. The CDNs issued by BanBif have an interest rate of 5.21875%, with a spread below 22 basis points, highlighting the competitiveness of the offer. Pinglo emphasized that these types of placements are a demonstration of the potential and strength that characterize BanBif, which in turn supports its growth and expansion strategy in the Peruvian financial market. The placement agent for this issuance was Credicorp SAB, while CAVALI ICLV S.A. acted as the settlement agent. Additionally, the rating agencies have given favorable ratings to BanBif’s securities, contributing to investor confidence. Moody's Local rated the bank with an "A" and its CDNs with "ML-1," while Pacific Credit Rating PCR assigned a rating of "A+" to the entity and "PE-1+" to the CDNs. On the other hand, it is important to highlight that the purchasers of these Negotiable Deposit Certificates are institutional entities, including pension funds, mutual funds, public entities, and insurance companies. This investor profile not only underscores BanBif’s reputation in the market but also indicates the level of trust these institutions have in the bank's financial solidity. So far this year, BanBif has issued a total of S/360 million in Negotiable Deposit Certificates, in addition to S/19.5 million in Subordinated Bonds. These figures reflect a proactive strategy by the bank to diversify its funding sources and continue its sustained growth. During 2023, CDN issuances reached S/320 million, and Subordinated Bonds totaled S/130 million, demonstrating a continued focus on seizing market opportunities. The funds raised through these issuances are designated to finance operations related to the business's core activities, allowing BanBif to maintain its competitiveness and adapt to the needs of the financial market. This strategy not only strengthens its position in the sector but also fosters a more stable environment for its growth and development. In a context where the country's economic growth has shown signs of slowing down, the successful issuance of CDNs by BanBif is a positive sign that could have favorable repercussions. This can be interpreted as an indication that, despite the challenges, there are attractive investment opportunities in the Peruvian market, especially in the banking sector. Finally, BanBif's ability to attract investors to its CDN offerings reinforces the importance of transparency and trust in the financial realm. As the bank continues to navigate a complex economic environment, its success in these placements could lay the groundwork for future initiatives that further drive its growth and expansion in the Peruvian market.