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Jun 30, 2025
Credicorp Q2 2025 Earnings Report
Credicorp reported strong earnings in Q2 2025 with record-high ROE, lower provisions, and solid momentum across its core businesses.
Key Takeaways
Credicorp delivered a robust quarter, driven by strong performance in Universal Banking and Insurance, reduced provisions, improved credit quality, and growth in digital services like Yape.
Net income attributable to Credicorp rose to $492,441,892, a 36.1% YoY increase.
Risk-adjusted NIM hit a record 5.44% amid lower cost of risk.
Yape reached 14.9 million MAUs and contributed 5.5% to total risk-adjusted revenue.
ROE reached 20.7% due to gains in BCP’s investment portfolio and strong core business execution.
Revenue by Geographic Location
Forward Guidance
Credicorp raised its full-year ROE guidance to ~19% and long-term ROE target to 19.5%, reflecting optimism in retail lending, digital services, and improved asset quality.
Positive Outlook
- ROE guidance for 2025 raised to ~19%
- Long-term ROE target increased to 19.5%
- Retail and microfinance loan growth accelerating
- Yape scaling with increasing monetization
- Improved payment behavior and portfolio quality
Challenges Ahead
- Lower wholesale loan balances impacted interest income
- Time deposit growth pressured funding costs
- Investment income decline due to lower dividends
- Some volatility in FX-related metrics due to Bolivia revaluation
- Continued need for disciplined expense management amid innovation investments
Historical Earnings Impact
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Avg. Return Before/After Earnings
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