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Credicorp Ltd.

BAP

Credicorp Ltd. • NYSE
$257.21 ▲ 0.52% (+1.34)
Market Cap $20.42 B
52w High $280.88
52w Low $165.51
Dividend Yield 11.01%
P/E 10.88
Volume 241.44K
Outstanding Shares 79.39M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $5.292B ▼ $1.415B ▼ $1.739B ▼ 32.856% ▲ $21.89 ▼ $2.926B ▲
Q2-2025 $7.418B ▲ $2.974B ▲ $1.822B ▲ 24.563% ▼ $22.8 ▲ $2.774B ▲
Q1-2025 $6.933B ▲ $2.509B ▲ $1.778B ▲ 25.642% ▲ $22.4 ▲ $2.723B ▲
Q4-2024 $6.607B ▼ $2.335B ▼ $1.127B ▼ 17.052% ▼ $14.14 ▼ $1.942B ▼
Q3-2024 $6.873B $2.489B $1.524B 22.169% $19.14 $2.291B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $81.105B ▲ $255.301B ▲ $218.045B ▲ $36.561B ▲
Q2-2025 $79.325B ▼ $249.03B ▼ $213.956B ▼ $34.459B ▼
Q1-2025 $86.242B ▲ $254.222B ▼ $217.807B ▼ $35.843B ▲
Q4-2024 $81.715B ▼ $256.089B ▲ $221.112B ▲ $34.346B ▲
Q3-2024 $84.063B $249.76B $215.683B $33.463B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $1.739B ▼ $2.318B ▼ $-251.409M ▲ $214.708M ▲ $1.621B ▲ $2.226B ▼
Q2-2025 $1.822B ▲ $6.071B ▲ $-374.722M ▲ $-7.574B ▼ $-3.039B ▲ $6.021B ▲
Q1-2025 $1.778B ▲ $936.19M ▲ $-921.24M ▼ $-1.957B ▼ $-3.118B ▼ $851.976M ▲
Q4-2024 $1.127B ▼ $-4.464B ▼ $1.915B ▲ $5.569B ▲ $47.57B ▲ $-4.545B ▼
Q3-2024 $1.524B $0 $0 $0 $0 $0

Five-Year Company Overview

Income Statement

Income Statement Credicorp’s earnings profile has strengthened meaningfully over the last five years. Revenue has grown steadily each year, with a noticeable acceleration as economic conditions normalized after the pandemic. Profitability has improved even faster than revenue, as operating profit and net income have rebounded from very weak levels in 2020 to clearly healthy levels now. This pattern suggests better cost control, improved credit quality, and a more profitable mix of products. Margins look solid for a regional bank, pointing to decent pricing power and disciplined underwriting. The trend in earnings per share mirrors net income, indicating that existing shareholders have benefited directly from the recovery. Overall, the income statement shows a bank that has moved from stress to stability and is now in a solid, growing phase, though still exposed to the usual banking risks around credit cycles and regulation.

Balance Sheet

Balance Sheet The balance sheet appears broadly robust and gradually strengthening. Total assets have been fairly stable with a slight upward trend, which is consistent with a mature but still growing regional franchise. Equity has increased each year, showing that the company is retaining profits and building a thicker capital cushion. Debt levels have edged down from earlier peaks and are now relatively stable, while the cash position has improved noticeably most recently. This combination—more equity, steady or slightly lower debt, and higher cash—points to a more resilient financial structure and better flexibility to handle shocks. As with any bank, asset quality and loan book concentration remain important watchpoints, but the headline balance sheet trends are constructive rather than stretched.

Cash Flow

Cash Flow Cash generation has become a clear strength after a volatile period. Operating cash flow swung from negative in the middle of the five‑year window to very strong more recently, reflecting both better earnings and more disciplined working capital and funding management. Free cash flow has followed the same pattern, turning from slightly negative to comfortably positive, while investment spending has remained modest and predictable. This means the business is now generating more cash than it needs for its ongoing investments, giving it options around dividends, buybacks, or further strategic investments. The main risk is that banking cash flows can be cyclical and sensitive to credit conditions, so this recent strength should be viewed as encouraging but not guaranteed to be permanent.

Competitive Edge

Competitive Edge Credicorp is a leading financial group in Peru with a broad, integrated platform spanning traditional banking, microfinance, insurance, pensions, and investment services. This diversification helps it capture more of each customer’s financial needs and spreads risk across business lines. Its flagship bank holds a strong share of loans and deposits in the country, which gives it scale advantages, bargaining power with partners, and strong brand recognition. A key competitive asset is its digital wallet Yape, which has achieved mass adoption in Peru and benefits from powerful network effects: the more users and merchants join, the more valuable it becomes. Coupled with its microfinance arm and insurance operations, this creates an ecosystem that is difficult for standalone banks or fintechs to replicate. However, the group remains heavily tied to the health of the Peruvian economy and regulatory environment, and it faces rising competition from agile fintechs and regional digital banks, so it must keep executing well on its digital and risk strategies to sustain its edge.

Innovation and R&D

Innovation and R&D Innovation is one of Credicorp’s standout qualities. The centerpiece is Yape, a digital wallet that has moved far beyond simple payments into micro‑lending, micro‑insurance, bill payments, and even marketplace features. This positions the company at the heart of daily financial life for a large portion of Peru’s population and opens up new, fee‑based revenue streams beyond traditional lending. The group is also investing heavily in data and artificial intelligence to improve credit scoring, personalize offers, and automate operations across banking, microfinance, and insurance. Its innovation arm and venture investments (through Krealo) extend its reach into fintech across Latin America, including neobanks in Chile and a new digital bank in Peru aimed at younger, mobile‑first customers. The main uncertainty is execution risk: scaling these new models profitably while managing credit risk in underserved segments and fending off other tech‑savvy competitors.

Summary

Credicorp today looks like a solidly profitable, well‑capitalized regional financial group that has successfully moved past the pandemic downturn and into a more stable growth phase. Earnings and margins have improved steadily, the balance sheet has been reinforced, and cash generation is now a clear positive. Its competitive strength rests on a dominant position in Peru, a diversified mix of banking, microfinance, insurance, and pensions, and a fast‑growing digital ecosystem led by Yape. This mix provides both resilience and multiple avenues for future growth, especially in fee‑based and digital services. Key things to watch are: credit quality through the cycle (particularly in micro‑lending), regulatory and political developments in Peru and the region, the profitability of its digital ventures, and the ability of Yape and its neobanks to monetize large user bases without taking excessive risk. Overall, the picture is of a traditional financial heavyweight that is actively reinventing itself as a digital‑first platform, with both meaningful opportunities and execution risks ahead.

NEWS

October 31, 2025 · 4:15 PM UTC

Credicorp Ltd.: Credicorp's Earnings Release and Conference Call 3Q25

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October 17, 2025 · 4:15 PM UTC

Credicorp Ltd.: Credicorp's “3Q25 quiet period”

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October 10, 2025 · 4:15 PM UTC

Credicorp Ltd.: Credicorp Held Investor Day Marking 30 Years on NYSE and Presented Vision for a Future-Ready Financial Ecosystem

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