Credicorp ( (BAP) ) has released its Q1 earnings. Here is a breakdown of the information Credicorp presented to its investors.
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Credicorp Ltd. is a leading financial services holding company based in Peru, with significant operations in Chile, Colombia, Bolivia, and Panama, primarily engaged in universal banking, insurance, and microfinance services.
In the first quarter of 2025, Credicorp reported strong financial results, highlighted by a significant increase in net income and return on equity (ROE). The company achieved a 57.8% quarter-on-quarter and 17.6% year-on-year increase in net income, reaching S/1,777.7 million, with an ROE of 20.3%, bolstered by an extraordinary gain from a joint venture acquisition.
Key financial metrics showed positive trends, including a 1.5% year-on-year growth in total loans and a 9.7% increase in total deposits. The company’s risk-adjusted net interest margin improved to 5.24%, reflecting effective risk management and a favorable economic environment. Additionally, the insurance underwriting results saw a 17.9% year-on-year increase, driven by improved reinsurance outcomes.
Credicorp’s management remains optimistic about the future, maintaining a focus on sustainable growth and innovation. The company aims to further diversify its revenue streams and enhance financial inclusion through digital transformation and strategic initiatives. Despite global uncertainties, Credicorp is well-positioned to capitalize on opportunities and deliver long-term value to its stakeholders.