Credicorp posts 17.6% increase in Q1 net profit
May 15 (Reuters) - Credicorp BAP.LM, one of Peru's largest financial holding companies, reported a first-quarter net profit of 1.78 billion Peruvian soles on Thursday, up 17.6% from the same period last year.
Analysts polled by LSEG had on average predicted a net profit of 1.61 billion soles.
Net interest income, the difference between what banks earn on loans and dole out to pay down liabilities, increased 4.3% from a year ago, the company said in a press release.
The increase was primarily due to lower interest expenses, supported by declining market rates and a greater share of low-cost deposits, the company said.
In the press release, Credicorp's Chief Financial Officer Alejandro Perez-Reyes said the company's strong performance underscored Peru's economic recovery from a 2023 recession.
Related Articles
Coca Cola (KO) Q4 Earnings Preview: Look for the Upside in the AI Initiatives, not in the Revenue and the EPS
Coca-Cola (KO) enters its fourth-quarter 2025 earnings call tomorrow with significant momentum. However, a fundamental shift is occurring.
Warsh’s Fed Era Signals a Death Knell for QE, Jolting the $30 Trillion Treasury Market
With Warsh’s nomination, his past proposals for governing the Federal Reserve are being brought to the forefront. A central issue is the formulation of a new "1951 Accord" to restructure the relationship between the Fed and the Treasury. Analysts suggest such a move could impact the $30 trillion Tre
Amazon Stock Predictions for 2026 to 2030: Will They Exceed Expectations and Achieve Major Long-Term Goals?
TradingKey - As we head into 2026, many investors are questioning where Amazon (AMZN) fits into the technology world.
A Crash After a Surge: Why Silver Lost 40% in a Week?
TradingKey - Spot silver (XAGUSD) prices continue to decline. Silver plunged 20% on Thursday, breaking below $71 per ounce, with the sell-off intensifying on Friday as prices fell further below $64. Compared to the all-time high set on January 29, silver prices have retraced more than 40%, wiping out nearly all gains accumulated over the previous month.
