Credicorp Ltd. · BAP · FY2024 Q4 · Calendar Q1 2025
Credicorp emphasizes digital growth amid capital and execution risks
The supplied analysis supports a balanced view: Credicorp's profitability, improving asset quality and digital-platform progress provide evidence of operating resilience, while the Sartorius case, investment intensity and execution risks qualify the outlook.
Earnings scorecard
Reported versus consensusMarket reaction
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Transcript intelligence
What changed
Compared with the prior-quarter analysis, the supplied current analysis describes Yape as profitable with nearly 14 million active users, identifies the Sartorius provision as a material capital consideration, and shifts the forward focus toward digital transformation, sustainability financing and the Tempo neo-bank.
Guidance delta
Management maintained its outlook, with 2025 targets for loan growth, NIM and ROE described in the transcript analysis.
Key takeaways
- The transcript analysis describes record 2024 profitability and improved asset quality despite one-off charges.
- Yape reached profitability and continued to support the company's diversification strategy.
- Management highlighted digital transformation, sustainability financing and new-business revenue as strategic priorities.
- The main counterweights are the Sartorius case, a higher expense profile and the execution required to scale digital initiatives.
Management priorities
- Accelerate digital transformation, including AI, cybersecurity and automation.
- Expand Yape and build new-business risk-adjusted revenue beyond 10% by 2026.
- Scale sustainable financing while funding and developing the Tempo neo-bank in Chile.
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Analyst 52W Price Targets
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 18, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| JP Morgan | Overweight | Neutral | Upgrade | Sep 16, 2026 |
| UBS | Buy | Buy | Maintain | Aug 20, 2026 |
| Goldman Sachs | Neutral | Neutral | Maintain | Jul 16, 2026 |
| Morgan Stanley | Overweight | Equal Weight | Upgrade | Jun 17, 2026 |
| HSBC | Buy | Hold | Upgrade | May 19, 2026 |
| Citigroup | Buy | Buy | Maintain | Aug 20, 2025 |
| B of A Securities | Neutral | Buy | Downgrade | Dec 16, 2024 |
| Scotiabank | Sector Outperform | Sector Perform | Upgrade | Jul 7, 2023 |
| Itau BBA | Outperform | Market Perform | Upgrade | Jan 3, 2023 |
| Credit Suisse | Outperform | Neutral | Upgrade | Jul 19, 2022 |
| Santander | Hold | Buy | Downgrade | Jun 23, 2020 |
| Bank of America | Neutral | Buy | Downgrade | Jan 7, 2020 |
| Barclays | Overweight | Overweight | Maintain | Mar 15, 2016 |
| Raymond James | Market Perform | Outperform | Downgrade | Mar 15, 2013 |
Named analyst price targets
Upside is calculated against the persisted current price $390.26. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| UBS | Thiago Batista | $473 | $368.98 | +21.2% | Aug 20, 2026 |
| Morgan Stanley | Jorge Kuri | $480 | $364.28 | +23.0% | Jun 17, 2026 |
| UBS | Analyst unavailable | $412 | $342.85 | +5.6% | May 26, 2026 |
| HSBC | Carlos Gomez-Lopez | $350 | $303.86 | -10.3% | May 19, 2026 |
| UBS | Thiago Batista | $408 | $340.01 | +4.5% | Apr 21, 2026 |
| UBS | Thiago Batista | $318 | $267.1 | -18.5% | Sep 16, 2025 |
| Morgan Stanley | Jorge Kuri | $195 | $185 | -50.0% | Sep 27, 2024 |
| Bank of America Securities | Ernesto Gabilondo | $190 | $185 | -51.3% | Sep 27, 2024 |
| Bradesco | Gustavo Schroden | $207 | $161.88 | -47.0% | Apr 18, 2024 |
| BTG Pactual | Alonso Aramburu | $154 | $129.38 | -60.5% | Sep 9, 2022 |
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Start freeCompany context
Snapshot as of publicationCredicorp Ltd., together with its subsidiaries, provides various banking services and products in Peru, Bermuda, Colombia, Bolivia, Panama, Chile, the United States, the Cayman Islands, and Mexico. It operates through Universal Banking; Insurance, Medical Services, and Pensions; Microfinance; and Investment Management and Advisory segments. The company grants various credits and financial instruments to individuals and legal entities; and various deposits and current accounts. It also issues insurance policies to cover losses in commercial property, transport, marine vessels, automobiles, life, health, and pensions; provides medical and health services, as well as management services of private pension funds to the affiliates.…
Historical context
All BAP earningsFinancial Services peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| MTB-PH M&T Bank Corporation | FY2026 Q3 · Calendar Q4 2026 | +2.2% | — | M&T Bank: Loan Growth Holds Up as Rates Pressure Margins |
| MTB-PJ M&T Bank Corporation | FY2026 Q3 · Calendar Q4 2026 | +2.2% | — | M&T: Deposit growth supports margins as AI use expands |
| RF-PE Regions Financial Corporation | FY2026 Q3 · Calendar Q4 2026 | +10.3% | — | Regions Financial: Fee Growth and Credit Quality Support Q3 |
| RF-PC Regions Financial Corporation | FY2026 Q3 · Calendar Q4 2026 | +10.3% | — | Regions Financial: Fee growth supports a steady Q3 outlook |
| TFC-PI Truist Financial Corporation | FY2026 Q3 · Calendar Q4 2026 | -50.9% | — | Truist sharpens focus as Q3 EPS rises 12% |
| TRV The Travelers Companies, Inc. | FY2026 Q3 · Calendar Q4 2026 | +24.2% | +1.5% | Travelers posts strong Q3, with investment income above $900 million |
Latest beats and misses
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2025-01-27T00:01:34.776509+00:00
- Polygon adjusted daily market bars · 2026-10-18T00:30:42.005329+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-18T00:30:42.002369+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-18. For educational purposes only; not investment advice.