Credicorp posts transcript of first-quarter 2026 earnings call

• Credicorp’s 1Q26 earnings call featured Chief Executive Officer Gianfranco Ferrari, Chief Financial Officer Alejandro Perez-Reyes, Chief Risk Officer Cesar Rios, Chief Innovation Officer Francesca Raffo, and the head of Insurance and Pensions.
• Management posted 21.1% ROE, an NPL ratio of 4.3%, cost of risk of 1.3%, and NIM of 6.6%, citing stronger asset quality, loan growth, and a richer low-cost deposit mix; an ordinary dividend of PEN 50 per share was declared.
• Guidance was reaffirmed for 2026, including loan growth of about 8.5% on quarter-end balances, NIM of 6.4%-6.7%, and ROE of around 19.5%, with management flagging potential upside while monitoring Peru’s presidential runoff, higher oil prices, and El Nino risks.
• Risk management attributed the quarter’s unusually low cost of risk at BCP partly to one-off factors such as mining profit-sharing, pension-fund withdrawal-related repayments, and wholesale provision releases, while expecting normalization as retail and higher-yield origination accelerates.
• Yape reached 16,400,000 monthly active users, lifted revenue per MAU to PEN 10.3 from a year earlier, disbursed more than 5,700,000 loans in the quarter, and contributed 17% of group fee income; management also created a neobank unit combining Yape, iO, Tenpo, and Yape Bolivia to scale shared capabilities and expansion.

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