Analyst Consensus ?
ConsensusBuy14 ratings
Bullish964.3%
Neutral535.7%
Bearish00.0%
Credicorp Ltd. · BAP · FY2026 Q1 · Calendar Q2 2026
Credicorp: Strong Q1 Momentum, With Macro Risks Still in Focus
The quarter supports a constructive operating case: strong loan growth, lower cost of risk, and digital expansion drove record results. The key counterpoints are macro sensitivity, political uncertainty, and the need to sustain asset quality and digital profitability.
Why did BAP fall 3.5% after beating EPS estimates in FY2026 Q1?
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Reported After market closeNYSEFinancial Services
$30.62B market cap
90quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$7.65
Consensus $6.92
EPS surprise
+10.5%
Reported versus consensus
Reported revenue
$1.73B
Consensus $1.73B
Revenue surprise
-0.1%
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
-3.5%
Event window
SPY move
-1.2%
Same window
Abnormal move
-2.3%
Stock minus SPY
Volume
2.0×
Versus trailing sessions
Subsequent drift
+14.5%
Up to 20 sessions
BAPSPY benchmark
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Why did BAP fall 3.5% after beating EPS estimates in FY2026 Q1?What changed in BAP's guidance and outlook in FY2026 Q1?Give me the bull and bear case for BAP after FY2026 Q1 earnings.
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Transcript intelligence
What changed
Credicorp created a unified neobank unit bringing together Yape, Tenpo, Eo, and Bolivia operations. Risk-adjusted revenue from innovation reached 9% of total, close to the 10% year-end target.
Guidance delta
Management maintained loan-book growth guidance of 8.5%–10.5% and Peru GDP growth guidance of 3.5%.
Key takeaways
- Record net income and 21.1% ROE exceeded expectations.
- Loan growth accelerated at BCP and Mibanco, while cost of risk fell below guidance.
- Yape and Tenpo are expanding the digital ecosystem, which contributed about 8% of group revenue.
- Election uncertainty, El Niño, and oil-price volatility remain key risks.
Management priorities
- Grow the loan book through retail and microfinance.
- Scale and integrate Yape, Tenpo, and Eo under the unified neobank unit.
- Improve efficiency and leverage low-cost funding.
- Reach 10% of risk-adjusted income from innovation initiatives by year-end.
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Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$367.4Current
$154Low
$323.71Average
$480High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Nov 11, 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 $367.4. 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 | +28.7% | Aug 20, 2026 |
| Morgan Stanley | Jorge Kuri | $480 | $364.28 | +30.6% | Jun 17, 2026 |
| UBS | Analyst unavailable | $412 | $342.85 | +12.1% | May 26, 2026 |
| HSBC | Carlos Gomez-Lopez | $350 | $303.86 | -4.7% | May 19, 2026 |
| UBS | Thiago Batista | $408 | $340.01 | +11.1% | Apr 21, 2026 |
| UBS | Thiago Batista | $318 | $267.1 | -13.4% | Sep 16, 2025 |
| Morgan Stanley | Jorge Kuri | $195 | $185 | -46.9% | Sep 27, 2024 |
| Bank of America Securities | Ernesto Gabilondo | $190 | $185 | -48.3% | Sep 27, 2024 |
| Bradesco | Gustavo Schroden | $207 | $161.88 | -43.7% | Apr 18, 2024 |
| BTG Pactual | Alonso Aramburu | $154 | $129.38 | -58.1% | 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 |
|---|---|---|---|---|
| CIB Grupo Cibest S.A. | FY2026 Q3 · Calendar Q4 2026 | -10.1% | -4.0% | Grupo Cibest raises loan-growth outlook as commercial lending and Nequi underpin Q3 |
| MGRE Affiliated Managers Group, Inc. | FY2026 Q3 · Calendar Q4 2026 | +8.1% | +0.6% | AMG: Alternatives drive record Q3 as firm maintains Q4 outlook |
| MGRD Affiliated Managers Group, Inc. | FY2026 Q3 · Calendar Q4 2026 | +8.1% | +1.4% | AMG’s Q3 Growth Centers on Alternatives, Inflows and Buybacks |
| MGRB Affiliated Managers Group, Inc. | FY2026 Q3 · Calendar Q4 2026 | +8.1% | +1.4% | AMG’s alternatives-led growth strengthens, while revenue misses estimates |
| AMG Affiliated Managers Group, Inc. | FY2026 Q3 · Calendar Q4 2026 | +8.1% | +5.6% | AMG posts record Q3, with alternatives driving inflows and earnings |
| KKR KKR & Co. Inc. | FY2026 Q3 · Calendar Q4 2026 | +12.7% | +1.7% | KKR’s record quarter pairs fee growth with deployment and liquidity |
Latest beats and misses
Who reports nextBeat on EPS
- VGFY2026 Q3 · November 10, 2026+92.7% EPS+1.7% move
- TDGFY2026 Q4 · November 10, 2026+1.9% EPS+0.5% move
- ONONFY2026 Q3 · November 10, 2026+39.9% EPS-7.5% move
- CRWVFY2026 Q3 · November 10, 20260.0% EPS-0.5% move
- OXYFY2026 Q3 · November 9, 2026+30.8% EPS+2.0% move
- MGREFY2026 Q3 · November 9, 2026+8.1% EPS+0.6% move
Missed on EPS
- EMBJFY2026 Q3 · November 10, 2026-49.4% EPS+7.0% move
- VODFY2027 Q2 · November 10, 2026-72.8% EPS-1.2% move
- SEFY2026 Q3 · November 10, 2026-5.1% EPS-1.5% move
- BAPFY2026 Q3 · November 9, 2026-2.6% EPS+3.3% move
- JBSFY2026 Q3 · November 9, 2026-28.6% EPS-5.5% move
- CIBFY2026 Q3 · November 9, 2026-10.1% EPS-4.0% move
Get the BAP recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-17T18:03:52.013422+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-09-24T13:00:57.565989+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-09-24T13:00:57.563846+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 2026-09-24. For educational purposes only; not investment advice.