Credicorp Earnings Call Transcripts
Fiscal Year 2026
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Record net income and 21.1% ROE in Q1 2026 were driven by strong loan growth, digital innovation, and improved asset quality. Guidance remains positive, with loan and fee income growth expected, though macro and political risks are closely monitored.
Fiscal Year 2025
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Record net income and 19% ROE in 2025 were driven by strong loan growth, digital innovation, and diversified revenue streams. 2026 guidance targets 8.5% loan growth, stable margins, and improved efficiency, with digital initiatives like Yape expected to further boost profitability.
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ROE reached 19.6% with strong results in core businesses and digital innovation, while asset quality and efficiency improved. Guidance for 2025 remains robust, with loan growth, NIM, and ROE targets reaffirmed despite political and pension-related uncertainties.
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A future-oriented strategy centers on innovation, financial inclusion, and ecosystem synergies, with Yape and digital transformation as growth engines. Ambitious targets include doubling insurance clients, scaling supply chain finance, and expanding regionally, while maintaining strong risk management and aiming for a 19.5% ROE and lower cost-to-income.
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Q2 2025 saw strong results with ROE at 20.7%, robust loan and fee income growth, and continued digital transformation. Guidance for 2025 was raised, with sustainable ROE now targeted at 19.5%, supported by retail lending and innovation platforms like Yape.
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Q1 2025 saw strong results with ROE at 20.3% (18.4% excluding one-offs), improved asset quality, and robust fee income growth. Loan growth is expected to accelerate, with guidance maintained amid global uncertainties and a supportive Peruvian macro backdrop.
Fiscal Year 2024
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Record net income and strong ROE in 2024, with robust Q4 performance and improved asset quality. Outlook for 2025 is positive, targeting higher loan growth, resilient margins, and a sustainable ROE of 18% by 2026.
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Record net income and ROE were achieved, driven by improved asset quality, cost control, and digital growth. Guidance for 2024 is reaffirmed, with expectations for lower cost of risk and higher loan growth in 2025. Expansion and innovation initiatives continue to support resilience.
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Innovation initiatives are set to exceed 10% of risk-adjusted revenues by 2026, led by Yape, Tenpo, Culqi, and iO, while maintaining disciplined investment boundaries. Digital transformation has driven strong ROE and efficiency gains, with Yape's lending poised to become a major revenue driver.
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Q2 2024 delivered a 16.2% ROE, robust loan growth, and resilient NIM, driven by universal banking, insurance, and digital initiatives like Yape, which reached breakeven. Microfinance remains challenged, but overall guidance for 2024 is reaffirmed, with a focus on efficiency and digital transformation.