During its quarterly presentation to investors, Credicorp, a major financial group in Peru with operations in Colombia, Chile, Bolivia, Panama, and the United States, disclosed its first quarter 2025 results. The holding company, which includes BCP, BCP Bolivia, Mibanco, Mibanco Colombia, Grupo Pacífico, Prima AFP, Credicorp Capital, and Krealo, reported a net income of S/1,777.7 million. This marks an increase of 57.8% trimester over trimester and 17.6% year over year (YoY), achieving a return on equity (ROE) of 20.3%. Excluding the extraordinary gain from the joint venture with Empresas Banmédica, the ROE is 18.4%.
Alejandro Pérez-Reyes, CFO of Credicorp, highlighted that these results reflect Peru’s economic recovery and Credicorp’s effective execution across its operations. He mentioned that increased credit demand and strong performance in insurance contributed to a record risk-adjusted net interest margin (NIM) of 5.2%. Pérez-Reyes reiterated the group’s commitment to sustainable growth and long-term value creation.
Despite global uncertainty and trade tensions, Peru’s economy grew by 3.9% YoY in the first quarter of 2025. This growth was mainly driven by non-primary sectors due to improvements in formal employment and real wages. Credicorp estimates that Peru’s economy will grow approximately 3% in 2025.
Credicorp continues its strategy focused on technological investment across core businesses and disruptive ventures to maintain competitiveness. Gianfranco Ferrari, CEO of Credicorp, emphasized the effectiveness of their diversified business model and favorable macroeconomic context. He noted that innovation now accounts for 5.4% of risk-adjusted revenue with a target of reaching 10% by 2026.
The digital platform Yape closed the quarter with 14.3 million monthly active users averaging 52 transactions per user per month and contributing 4.8% to Credicorp’s risk-adjusted revenue.
In sustainability efforts for the first quarter of 2025: BCP and Yape included an additional 200,000 people into the formal financial system; BCP provided financial education to more than 81,000 people; Pacífico Seguros issued over 2.7 million inclusive insurance policies; Mibanco expanded through “Finance for the Future,” adding over 16,000 SME clients; BCP supported over 70,000 clients through “Despegue Empresarial”; Pacífico Seguros trained over 11,000 people in risk prevention.
Credicorp also published its Sustainability Report and TCFD Report for 2024 reaffirming its dedication to transparency and environmental stewardship.
