Credicorp reported its third‑quarter 2025 results with earnings per share of $6.17, surpassing the consensus estimate of $6.05 by $0.12, a 1.98% beat. Net revenue, after interest expense, totaled $1.65 billion, aligning with Street forecasts and representing a 19% year‑over‑year increase from $1.39 billion in Q3 2024 and a 4% rise from the $1.57 billion reported in Q2 2025.
Revenue growth was driven by robust demand in the core banking segment and the continued expansion of the Yape digital platform, which attracted new users and increased transaction volume. The digital initiative contributed an estimated 15% of net results for the year, according to CFO Alejandro Pérez Reyes, and helped offset modest headwinds in traditional loan growth. The company’s loan book grew 7% on a foreign‑exchange‑neutral basis, supporting the revenue increase.
The EPS beat can be attributed to disciplined cost management and margin expansion in high‑margin digital services. While operating expenses rose modestly, the company maintained a strong operating margin through efficient allocation of resources and a favorable mix shift toward higher‑margin products. The combination of cost control and a higher contribution from Yape lifted earnings above expectations.
Management highlighted the company’s resilience in a volatile environment. CEO Gianfranco Ferrari emphasized that Credicorp’s strategy is designed to perform in favorable conditions and to endure across cycles. He noted that the firm’s focus on digital transformation and risk management has positioned it well to navigate political uncertainties and inflationary pressures in Peru.
Looking ahead, Credicorp’s consensus full‑year 2025 guidance projects earnings per share of $23.85 and revenue of $6.47 billion. The company maintains a medium‑term return‑on‑equity target of 19.5% and expects loan book growth of approximately 6.5% year‑over‑year, signaling confidence in sustained profitability and growth.
The market responded positively to the results, with analysts citing the EPS beat and the company’s strong digital momentum as key drivers. While revenue met forecasts, the mixed reporting on revenue figures in some sources tempered the enthusiasm, underscoring the importance of the EPS performance in shaping investor sentiment.
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