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Credicorp (BAP)
NYSE:BAP
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Earnings Data
Report Date
Feb 10, 2025After Close Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$4.61Last Year’s EPS
$10.6Same Quarter Last Year
Based on 4 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 07, 2024
|% Change Since: -0.15%
|Next Earnings Date:Feb 10, 2025
Earnings Call Sentiment|Positive
The earnings call reflects a generally positive outlook for Credicorp, with record net income and strong ROE driven by strategic initiatives and improved asset quality. However, challenges such as negative loan growth and an elevated cost of risk persist. Expansion into new markets and businesses shows growth potential.Company Guidance
During the Credicorp Limited Third Quarter 2024 Conference Call, the executives provided detailed guidance on key financial metrics and future expectations. They reported a record net income of PEN 1,923 million, with a total dividend payout reaching 75.3% year-to-date, driven by strategic initiatives and a stable political environment. Despite geopolitical tensions and U.S. election uncertainties, GDP growth projections remain at 3% for 2024 and 2.8% for 2025. Inflation in October rose to 2%, aligning with the Central Bank's target range. The company aims to generate 10% of risk-adjusted revenues from new businesses by 2026, amid slower-than-expected recovery in business confidence. The third quarter also saw a strong return on equity (ROE) of 18.5%, supported by universal banking and insurance, with an improved risk-adjusted net interest margin (NIM) due to strategic interest rate management. Looking ahead, Credicorp maintains its ROE guidance of around 17% for 2024, with expectations of improved loan growth and reduced cost of risk.Record High Net Income
Credicorp delivered a record high net income of PEN 1,923 million in Q3 2024.
Strong ROE Performance
The company reported a strong ROE of 18.5% for the third quarter, supported by Universal Banking and insurance.
Improved Asset Quality
Asset quality improved as the NPL ratio dropped 12 basis points to 5.9% and provisions fell 20.6%.
Launch of Tenpo Bank Chile
Credicorp received provisional approval to create Tenpo Bank Chile, marking significant expansion into the Chilean financial market.
Acquisition of Banmedica's 50% Stake
Credicorp announced the acquisition of the remaining 50% stake in its joint venture with Banmedica, strengthening its insurance and healthcare segment.
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BAP Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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BAP Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 07, 2024 | $182.40 | $185.00 | +1.43% |
| Aug 08, 2024 | $166.03 | $162.97 | -1.84% |
| May 09, 2024 | $163.86 | $162.85 | -0.62% |
| Feb 08, 2024 | $141.61 | $143.64 | +1.43% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Credicorp (BAP) report earnings?
Credicorp (BAP) is schdueled to report earning on Feb 10, 2025, After Close Not Confirmed.
What is Credicorp (BAP) earnings time?
Credicorp (BAP) earnings time is at Feb 10, 2025, After Close Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is BAP EPS forecast?
BAP EPS forecast for the fiscal quarter 2024 (Q4) is $4.61.
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