Credicorp (BAP)
NYSE:BAP
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Earnings Data
Report Date
Aug 13, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
7.33Last Year’s EPS
6.69Same Quarter Last Year
Strong Buy
Based on 3 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a predominantly positive operational and financial performance: record net income and ROE, robust loan growth, improved asset quality, expanding digital revenues (notably Yape), and disciplined capital returns. Management balanced these achievements with clear acknowledgment of near-term risks — inflation, election uncertainty, El Niño/weather impacts, higher operating and innovation investments, and some one-off drivers to asset-quality improvements. Guidance was maintained (loans ~8.5% growth, NIM 6.4–6.7%, ROE ~19.5% target with potential to be on the upper side), reflecting confidence but prudent caution given external uncertainties.Company Guidance
Record Profitability and ROE
Credicorp reported record net income with a consolidated ROE of 21.1% for Q1 2026, exceeding expectations and reflecting strong fundamentals across core businesses.
Strong Loan Growth
Consolidated loans rose 8.2% year-over-year (quarter-end balances). BCP loans increased 7.3% YoY (9.1% FX-neutral) and Mibanco delivered double-digit growth with loans up 12.4% YoY.
Improved Asset Quality and Coverage
NPL ratio improved to 4.3% (below pre-2023 levels) and NPL coverage rose to 113.8%. Consolidated cost of risk stood at 1.3%, with BCP at 0.8% and Mibanco showing notable reductions in vintage risk (cost of risk down ~29 bps).
Margin and Core Income Expansion
Net interest income grew 10.9% YoY and consolidated NIM was 6.6% for the quarter. Other core income rose 19.5% YoY, fee income increased 15.6% YoY, and FX gains expanded 30.6% YoY. Risk-adjusted NIM trended up to ~5.8%.
Digital / Innovation Momentum (Yape and Neobank)
Yape reached 16.4 million MAUs (~82% of Peru's economically active population). Revenue per MAU increased 65% YoY while expenses per MAU rose 26% YoY. Payment revenue volume grew 80% YoY and lending revenue rose 3.6x YoY. Yape represented 17% of group fee income and 8% of group risk-adjusted revenues this quarter (up from 1% and 2.5%).
Operational and Segment Profitability
BCP ROE stood at 30.5% with risk-adjusted NIM at a record 5.5% and NPL volumes down 11.1%. Mibanco posted a profitability of 21.7% and strong NIM of 14.9%. Grupo Pacifico delivered ROE of 18.9% and organic net income growth of 11% YoY.
Deposit Mix Improvement and Funding Advantage
Low-cost deposits increased and accounted for 63.9% of the funding base at quarter-end (management noted low cost funding gains and cited low funding costs that helped compress funding cost by ~31 bps YoY).
Capital Returns and Solvency
Strong solvency enabled the declaration of a record ordinary dividend of PEN 50 per share while maintaining capital discipline and support for growth plans.
Progress Toward Innovation Revenue Targets
Innovation portfolio contributed 9% of risk-adjusted revenues this quarter, progressing toward the 10% target for 2026 and indicating accelerating monetization of digital initiatives.
Operational Efficiency Within Guidance
Consolidated efficiency ratio remained within guidance at 45.8% (BCP at 38.6%; Mibanco at 49.2%) despite continued investments in technology and strategic projects.
BAP Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
BAP Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 14, 2026 | $312.69 | $301.83 | -3.47% |
Feb 12, 2026 | $325.44 | $314.71 | -3.30% |
Nov 13, 2025 | $240.61 | $242.18 | +0.65% |
Aug 14, 2025 | $238.90 | $240.35 | +0.61% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Credicorp (BAP) report earnings?
Credicorp (BAP) is schdueled to report earning on Aug 13, 2026, Before Open (Confirmed).
What is Credicorp (BAP) earnings time?
Credicorp (BAP) earnings time is at Aug 13, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is BAP EPS forecast?
BAP EPS forecast for the fiscal quarter 2026 (Q2) is 7.33.