Banco de Comercio

Bancom is the current brand of the Peruvian financial institution historically known as Banco de Comercio. The bank is headquartered in Lima and operates in the Peruvian banking market. Its institutional history reaches back to 1967, when its predecessor, Banco Peruano de la Construcción, commonly abbreviated as BANPECO, was established. The institution later underwent a restructuring process and was reorganized as Banco de Comercio in the early 2000s. The restructuring was authorized by Peru’s banking supervisor, the Superintendencia de Banca, Seguros y AFP (SBS), in August 2004. The reorganization took place in the context of the earlier Banco de Comercio’s association with allegations that it had complied with corruption during the 1990s. The subsequent restructuring created the institutional basis for the modern bank and distinguished the reorganized entity from the earlier organization. In November 2004, the bank increased its share capital to S/. 51,894,500 through the conversion of 500 subordinated bonds into shares. The capital operation received SBS approvals in December 2004 and January 2005 and was formalized through a public deed in February 2005. Since the restructuring period, the bank’s principal shareholder has been the Caja de Pensiones Militar Policial, a Peruvian pension institution associated with personnel from the country’s military and police systems. This ownership connection has been an important part of Banco de Comercio’s institutional identity and customer relationships. The bank’s prominent clients have included the National Police of Peru and the Peruvian Armed Forces. The name Bancom was adopted as the bank’s public-facing brand in 2023, replacing the Banco de Comercio name used for most of the institution’s modern history. The rebrand did not represent a change of country or industry: Bancom remains a Peruvian banking institution serving customers in Peru. Publicly available reference material identifies it as a bank but does not provide enough detail to establish a complete product-by-product portfolio, executive roster, financial history, or branch network. Accordingly, its documented profile is strongest on institutional continuity, regulatory restructuring, ownership, and rebranding rather than on detailed commercial segmentation.

Bancom’s institutional lineage begins with Banco Peruano de la Construcción, or BANPECO, which was established in Peru in 1967. The predecessor operated within the country’s financial system before the institution was later reorganized under the Banco de Comercio name. The modern bank emerged from a restructuring process connected with the earlier bank of the same name. That earlier institution had been accused of complying with corruption during the 1990s. In response, a reorganization was undertaken in the early 2000s. Peru’s Superintendencia de Banca, Seguros y AFP authorized the restructuring in August 2004. The process established the organizational and capital framework for the bank that subsequently operated as Banco de Comercio. A significant capital step followed in November 2004, when the bank increased its share capital to S/. 51,894,500. The increase was carried out by converting debentures represented by 500 subordinated bonds into shares. The transaction was approved by the SBS in stages during December 2004 and January 2005, and it was subsequently formalized by public deed in February 2005. Following the restructuring, the Caja de Pensiones Militar Policial became the bank’s principal shareholder. The CPMP is a Peruvian pension institution connected with military and police personnel. This ownership structure helped shape the bank’s institutional profile, and the bank’s prominent clients included Peru’s National Police and Armed Forces. For most of its modern history, the institution operated under the Banco de Comercio name. In 2023, it adopted Bancom as its brand. The change marked a shift in commercial identity while preserving the institution’s continuity as a Peruvian bank headquartered in Lima. Available reference material does not establish a separately incorporated successor or provide sufficient evidence for a change in ownership at the time of the rebrand. The publicly documented history is therefore centered on three transformations: the creation of the BANPECO predecessor in 1967, the regulatory restructuring and recapitalization that produced the modern Banco de Comercio in 2004–2005, and the adoption of the Bancom brand in 2023. Detailed information about the bank’s full product range, executive leadership, financial performance, branch footprint, and subsequent strategic initiatives is not available in the supplied reference material.

1. 2023Bancom branding introduced

   The institution formerly known as Banco de Comercio began operating publicly under the Bancom brand.

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2. 2005Capital operation formalized

   The recapitalization received regulatory approvals in late 2004 and early 2005 and was formalized through a public deed in February 2005.

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3. 2004Restructuring authorized

   The Superintendencia de Banca, Seguros y AFP authorized the restructuring of the bank in August 2004.

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4. 2004Share capital increased

   In November 2004, the bank increased its share capital to S/. 51,894,500 by converting 500 subordinated bonds into shares.

   Source
5. 1967Predecessor established

   Banco Peruano de la Construcción, known as BANPECO, was established and became the predecessor of the institution later known as Banco de Comercio and Bancom.

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A Peruvian banking brand with historical links to military and police pension institutions and prominent relationships with Peru’s National Police and Armed Forces.

• Banking servicesCommercial banking

  Bancom is identified in available reference material as a Peruvian bank. Its documented business scope includes banking activity in Peru, although the supplied sources do not provide a sufficiently detailed catalog of accounts, payment services, lending products, or distribution channels to describe individual offerings reliably.

• Institutional and public-sector bankingInstitutional banking

  The bank has had prominent relationships with Peru’s National Police and Armed Forces, consistent with its historical ownership connection to the Caja de Pensiones Militar Policial. The available sources support identifying this institutional orientation, but do not specify the complete set of dedicated products or services.

• 2023Adopt the Bancom brandStrategy

  After operating for many years as Banco de Comercio, the institution changed its public-facing brand identity.

  What changed. The bank began using Bancom as its brand name.

  Aftermath. Bancom became the current public identity while the institution retained its continuity as a Peruvian bank.

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• 2004Restructure the banking institutionStrategy

  The restructuring followed concerns surrounding the earlier Banco de Comercio and was undertaken as part of the process that created the modern institution.

  What changed. The bank was reorganized under the Banco de Comercio identity with authorization from Peru’s banking supervisor in August 2004.

  Aftermath. The reorganization was followed by a capital increase, formalization of the new capital structure, and the emergence of the CPMP as the principal shareholder.

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• 2004Convert subordinated bonds into equityOther

  As part of the post-restructuring capitalization process, the bank needed to establish a new share-capital structure.

  What changed. In November 2004, 500 subordinated bonds were converted into shares, raising share capital to S/. 51,894,500.

  Aftermath. The operation received SBS approvals in December 2004 and January 2005 and was formalized by public deed in February 2005.

  Share capital. S/. 51,894,500 (November 2004)

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• 1990Allegations concerning the earlier Banco de ComercioControversy

  The earlier bank of the same name was accused of complying with corruption during the 1990s. The allegations formed part of the background to the restructuring that was authorized in 2004; the supplied material does not provide a detailed account of specific cases, findings, or penalties.

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• 2023Banco de Comercio adopts the Bancom brand

  The Peruvian bank formerly known as Banco de Comercio began using Bancom as its public brand.

  Other
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1. Banco de Comercio
2. Bancom official website