Exhibit
        12.1
  **CERTIFICATIONS
        PURSUANT TO SECTION 302 OF THE U.S. SARBANES-OXLEY ACT OF
        2002**
  I,
        Dionisio Romero, certify that:
 
 1.
        I have
        reviewed this Annual Report on Form 20-F of Credicorp Ltd.;
 
 2.
        Based
        on my knowledge, this Annual Report does not contain any untrue statement
        of a
        material fact or omit to state a material fact necessary to make the statements
        made, in light of the circumstances under which such statements were made,
        not
        misleading with respect to the period covered by this Annual
        Report;
 
 3.
        Based
        on my knowledge, the financial statements, and other financial information
        included in this Annual Report, fairly present in all material respects the
        financial condition, results of operations and cash flows of the Company
        as at,
        and for, the periods presented in this Annual Report;
 
 4.
        The
        Company’s other certifying officer and I are responsible for establishing and
        maintaining disclosure controls and procedures (as defined in Exchange Act
        Rules
        13a-15(e) and 15d-15(e)) and internal control over financial reporting (as
        defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the Company and
        have:
 
 a)
        designed such disclosure controls and procedures, or caused such disclosure
        controls and procedures to be designed under our supervision, to ensure that
        material information relating to the Company, including its consolidated
        subsidiaries, is made known to us by others within those entities, particularly
        during the period in which this report is being prepared;
 
 b)
        designed such internal control over financial reporting, or caused such internal
        control over financial reporting to be designed under our supervision, to
        provide reasonable assurance regarding the reliability of financial reporting
        and the preparation of financial statements for external purposes in accordance
        with generally accepted accounting principles;
 
 c)
        evaluated the effectiveness of the Company’s disclosure controls and procedures
        and presented in this Annual Report our conclusions about the effectiveness
        of
        the disclosure controls and procedures, as of the end of the period covered
        by
        this Annual Report based on such evaluation; and
 
 d)
        disclosed in this Annual Report any change in the Company’s internal control
        over financial reporting that occurred during the period covered by this
        Annual
        Report that has materially affected, or is reasonably likely to materially
        affect, the Company’s internal control over financial reporting;
        and
 
 5.
        The
        Company’s other certifying officer and I have disclosed, based on our most
        recent evaluation of internal control over financial reporting, to the Company’s
        auditors and the Audit Committee of the Company’s board of directors (or persons
        performing the equivalent functions):
 
 a)
        all
        significant deficiencies and material weaknesses in the design or operation
        of
        internal control over financial reporting which are reasonably likely to
        adversely affect the Company’s ability to record, process, summarize and report
        financial information; and
 
 b)
        any
        fraud, whether or not material, that involves management or other employees
        who
        have a significant role in the Company’s internal control over financial
        reporting.
 
 Dated:
                  October 3, 2008/s/
                  DIONISIO ROMEROName:
                  Dionisio RomeroTitle:
                  Chief Executive Officer