Credicorp Q3 earnings exceed estimates by $0.12 per share
Per-share profit beats forecast by $0.12 while revenue matches analyst projections for Peru’s largest financial group.
Credicorp Ltd. reported third-quarter earnings that exceeded Wall Street estimates by $0.12 per share, while revenue aligned with market expectations.
The Lima-based financial group, which operates Peru’s largest bank, said adjusted earnings per share totaled $2.45 for the three months ended September 30, compared with the $2.33 median estimate compiled by Bloomberg. Revenue reached $1.24 billion, in line with the $1.25 billion consensus forecast.
Net interest income rose 7.8% year-over-year to $812 million, driven by loan growth and higher margins. Operating expenses increased 5.4% to $689 million, reflecting higher personnel and technology costs. The bank’s non-performing loan ratio edged down to 2.1% from 2.3% in the prior quarter.
Credicorp’s capital position remained strong, with a common equity tier 1 ratio of 14.2%, above the regulatory minimum. The board declared a cash dividend of $0.75 per share, payable on November 20 to shareholders of record as of November 10.
Shares were little changed in pre-market trading, last indicated at $185.50.
Priya covers listed equities and corporate earnings, reading quarterly results and guidance for what they signal about sector health and forward valuations.
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