Credicorp Ltd · Q1 2026 earnings

Briefing

Credicorp Q1 2026: S/2.06B net income, 21.1% ROE, loans +8.2% YoY

Credicorp Ltd. reported record Q1 2026 results for the three months ended March 31, 2026. Net income attributable to Credicorp reached S/2,063 million, up 16.1% YoY and 30.0% QoQ, with return on equity hitting a record 21.1%. Net interest income after provisions rose 16.4% YoY to S/3.48 billion, while other income grew 9.8% YoY to S/1.86 billion. Total loans expanded 8.2% YoY and deposits rose 13.3% YoY, supported by BCP wholesale and Mibanco microfinance growth. Asset quality improved with the NPL ratio falling to 4.3% and cost of risk at 1.3%. Risk-adjusted NIM rose to 5.8% and the efficiency ratio held at 45.8%. Yape reached 16.4 million monthly active users with revenue per MAU up 65% YoY to S/10.3.

• Net income attributable to Credicorp was S/2,063 million (+16.1% YoY, +30.0% QoQ); basic EPS was S/25.9 and ROE reached 21.1%.
• Net interest income after provisions grew 16.4% YoY to S/3.48 billion; NIM was 6.58% (+36 bps YoY).
• Total loans rose 8.2% YoY to S/152.8 billion; deposits increased 13.3% YoY to S/178.6 billion.
• NPL ratio improved to 4.3% (-83 bps YoY); cost of risk fell to 1.3% and risk-adjusted NIM rose to 5.8%.
• Yape reached 16.4M MAUs with revenue per MAU up 65% YoY to S/10.3; management targets ~19.5% ROE for full-year 2026.

Headline financials

Revenue & EPS history

Credicorp expects to close 2026 with ROE around 19.5%, driven by faster loan portfolio growth (especially retail), higher NIM, and a controlled cost of risk.