Banco de Crédito del Perú (CREDITC1) Q1 2025 earnings summary

Executive summary

• First quarter results highlight strong performance, driven by Peru's economic recovery and effective execution, with no material misstatements in interim consolidated financial statements prepared under Peruvian SBS standards.

• Net profit for Q1 2025 reached S/ 1,578.4 million, up from S/ 1,275.6 million in Q1 2024.

• Maintained leadership in the Peruvian financial sector with significant market share in loans and deposits.

• Continued focus on digital transformation, efficiency, and sustainable growth.

• Total assets as of March 31, 2025 were S/ 207,982.1 million, slightly down from S/ 208,943.3 million at December 31, 2024.

Financial highlights

• Net income reached PEN 1,574 million in 1Q25, up from PEN 1,162 million in 4Q24 and PEN 1,272 million in 1Q24.

• Net interest income for Q1 2025 was S/ 2,771.6 million, up from S/ 2,256.0 million year-over-year.

• Provision for credit losses decreased to S/ 642.6 million from S/ 1,019.8 million year-over-year.

• Fee income rose 7.0% YoY and efficiency ratio improved to 39.9%, up 140bps YoY.

• Basic and diluted EPS for Q1 2025 was S/ 0.1212, up from S/ 0.0980 in Q1 2024.

Outlook and guidance

• Positioned for continued growth as Peru's GDP is forecasted to expand by 3.2% in 2025.

• Focus remains on digitalization, financial inclusion, and sustainable finance.

• No significant acquisitions, incorporations, or mergers occurred in Q1 2025.

• Management and Board approved the interim statements on April 23, 2025; no significant events identified up to May 16, 2025.