Banco de Crédito del Perú (CREDITC1) Q2 2024 earnings summary

Executive summary

• Net profit for the six months ended June 30, 2024 was S/2,551.6 million, slightly down from S/2,630.6 million in the same period of 2023.

• Total assets increased to S/200,696.9 million as of June 30, 2024, up from S/191,858.3 million at December 31, 2023.

• The review by independent auditors found no material misstatements in the interim financial statements.

Financial highlights

• Financial income rose to S/8,637.1 million, up from S/7,991.0 million year-over-year; financial expenses also increased to S/2,210.7 million.

• Gross financial margin reached S/6,426.4 million, compared to S/5,894.9 million in 2023.

• Net financial margin was S/4,508.5 million, nearly flat year-over-year.

• Earnings per share for the period were S/0.1967, compared to S/0.2028 in 2023.

• Total equity stood at S/22,712.9 million as of June 30, 2024.

Outlook and guidance

• Management does not expect a significant impact from new Basel III capital requirements and regulatory changes.

• No significant events or transactions occurred after the reporting period requiring disclosure.