Credicorp Reports Strong Fourth Quarter 2024 Results

An announcement from Credicorp ( (BAP) ) is now available.

Credicorp Ltd. reported financial results for the fourth quarter of 2024, showcasing strong performance with a 33.8% year-over-year increase in net income to S/1,126.7 million, despite a 26.1% quarter-over-quarter decline. The company achieved a historic high in net income for the fiscal year 2024, reaching S/5,501 million. Key highlights include a 0.7% increase in total loans quarter-over-quarter, driven by corporate and mortgage sectors, and a 4.8% rise in total deposits. The NPL ratio improved to 5.3%, reflecting better risk management, and the company continued to see growth in its digital transactions, notably through its app Yape, which reached 13.7 million monthly active users.

More about Credicorp

Credicorp Ltd. is a leading financial services holding company based in Peru, with operations extending to Chile, Colombia, Bolivia, and Panama. The company primarily provides banking, insurance, and pension fund services through its subsidiary, Banco de Credito del Peru.

YTD Price Performance: -0.12%

Average Trading Volume: 274,305

Technical Sentiment Consensus Rating: Sell

Current Market Cap: $14.62B

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