No. Credicorp is not a bank and does not hold a banking licence. We are a specialist commercial lender: we deploy our own capital and funding lines to make loans directly to UK limited companies and LLPs, without accepting retail deposits or operating a current-account or savings product.
What the difference means in practice
Banks are authorised and regulated by the Prudential Regulation Authority (PRA) as well as the Financial Conduct Authority (FCA). Non-bank commercial lenders like Credicorp that lend exclusively to businesses above the relevant thresholds operate outside the consumer-credit regulatory perimeter — we are not required to hold FCA consumer-credit permissions for the products we offer. That lighter regulatory wrapper is part of why we can make decisions faster and structure facilities in ways that suit business cashflow rather than fitting a consumer template.
No deposit protection
Because we are not a bank, money you place with us — for example any fees held in connection with a facility — is not covered by the Financial Services Compensation Scheme (FSCS). This is consistent with our position as a business-to-business lender rather than a deposit-taking institution.
Direct lender, not a broker
We are also not a credit broker. When you apply to Credicorp, you are applying to the entity that will actually advance the funds and hold the agreement. There is no referral to a panel of third-party funders and no broker fee layered into the cost.
We lend only to UK limited companies and LLPs, and the loan is to the company with no director personal guarantee. As business finance outside the consumer-credit regime, it is not covered by the Financial Ombudsman Service or FSCS.
See also: Who is Credicorp?, What is Credicorp's UK regulatory position?, How is Credicorp's lending funded?