Credicorp (BAP) has released an update.
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Credicorp Ltd. has reported a robust financial performance for the first quarter of 2024, with a notable Return on Equity (ROE) of 18.2%. The company witnessed a disciplined interest rate strategy that yielded a Net Interest Margin (NIM) increase and diversified income sources leading to growth in Net Interest Income (NII) and Other Core Income. Despite some challenges in loan growth and an uptick in the Non-Performing Loan (NPL) ratio, the company’s efficiency ratio improved due to positive operating leverage.
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