Credicorp Q2 Earnings Call Highlights

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Fri, August 14, 2026 astatine 11:04 AM CDT 7 min read

Key Points

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Credicorp delivered beardown profitability, with second-quarter ROE of 20.3%, improved plus prime and a 13.1% year-over-year summation successful loans. Management raised its medium-term ROE anticipation to astir 22%.
The institution raised its 2026 outlook for indebtedness maturation to astir 12% and fee-income maturation to the precocious teens, supported by momentum astatine BCP and Mibanco, portion reaffirming ROE guidance of astir 19.5%.
El Niño remains the cardinal near-term risk; Credicorp recorded PEN 106 cardinal successful related provisions and whitethorn spot slower indebtedness and fee-income maturation if conditions worsen. Meanwhile, integer level Yape continued expanding, reaching much than 16 cardinal monthly progressive users and PEN 1.8 cardinal successful loans.

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Credicorp (NYSE:BAP) reported a second-quarter instrumentality connected equity of 20.3% and raised its medium-term ROE anticipation to astir 22%, citing stronger indebtedness growth, improved portfolio quality, a low-cost backing basal and expanding contributions from integer and fee-based businesses.

Chief Executive Officer Gianfranco Ferrari said the institution has go much assured successful Peru's medium-term economical outlook, pointing to recovering concern confidence, maturation successful backstage concern and home demand, and favorable commodity prices. He said backstage concern was increasing by astir 13% twelvemonth implicit twelvemonth and home request by much than 5%.

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Ferrari said governmental developments besides could enactment a much predictable economical environment, including continuity astatine Peru's cardinal slope and the assignment of a caller method squad astatine the Ministry of Economy and Finance. However, absorption identified El Niño arsenic the main near-term risk, though it characterized the upwind lawsuit arsenic a impermanent and manageable daze alternatively than a structural alteration to the country's maturation outlook.

Loan Growth and Asset Quality

Chief Financial Officer Alejandro Perez-Reyes said loans measured astatine quarter-end balances roseate 13.1% twelvemonth implicit year, driven chiefly by retail and wholesale banking astatine BCP arsenic good arsenic Mibanco. Net involvement income accrued 13.3%, supported by little involvement expenses and a higher-yielding indebtedness mix, portion consolidated nett involvement borderline stood astatine 6.6%.

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Asset prime improved, with the nonperforming indebtedness ratio declining to 4.1%. Cost of hazard was 1.9%, including 27 ground points related to El Niño provisions based connected presently disposable information. The institution recorded astir PEN 106 cardinal successful further provisions related to the lawsuit during the quarter. Excluding that impact, outgo of hazard was 1.6%.

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