Credicorp, Peru’s biggest bank, has agreed to buy Helm Bank USA in Miami.
Credicorp said in a press release that its Banco de Crédito del Perú unit will pay $180 million for the $1.1 billion-asset Helm Bank.
“This acquisition allows us to deepen our ability to serve Latin Americans whose financial lives span both their home countries and the United States,” Gianfranco Ferrari, Credicorp’s CEO, said in the release.
“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,” Ferrari added.
Helm Bank recently received a “needs to improve” Community Reinvestment Act rating.
Foley & Lardner advised Helm Bank.