Credicorp Ltd. 1Q26 Earnings Release

Credicorp Ltd. reported its first-quarter 2026 results, showcasing record-high net income and a 21.1% return on equity (ROE), driven by strong business performance and favorable market conditions. The company saw an 8.2% year-over-year increase in its loan portfolio, led by BCP and Mibanco, while asset quality improved with a non-performing loan (NPL) ratio of 4.3%. Net interest income reached record levels, with the risk-adjusted net interest margin (NIM) rising to 5.8%, supported by resilient margins, lower funding costs, and effective risk management. The innovation portfolio contributed 9.0% of risk-adjusted revenues, progressing towards its year-end target. Total deposits grew by 13.3% year-over-year, with low-cost deposits forming a significant portion of the funding base. Operating expenses increased by 13.1% year-over-year, primarily due to investments in commercial and technological capabilities, and innovation initiatives. The company also announced subsequent events including the appointment of new directors and a record ordinary dividend of S/50 per share based on 2025 results. Credicorp anticipates closing 2026 with an ROE of approximately 19.5%.