Peru's biggest bank, Credicorp, earned a record quarterly profit while rival Interbank improved results by setting aside less for bad loans, signaling a broad recovery in Peruvian credit quality.
Peru · Companies
Key Facts
—Credicorp Q1 net income. Reached a record S/2,063.2 million (US$607 million), up 16.1% year-on-year.
—Provision drop. Loan-loss provisions fell 35.1% due to better retail payment behavior and wholesale recoveries.
—BCP loan growth. The core bank's loan portfolio expanded 7.3% year-on-year, driven by consumer and mortgage lending.
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