- Credicorp estimates that the country’s economy will grow 3% this year.
- Between BCP and Yape, 200,000 people were financially included out of the 6 million accumulated since 2020.
Lima, May 16, 2025.- During its quarterly presentation to investors, Credicorp, a leading financial group in Peru with a presence in Colombia, Chile, Bolivia, Panama, and the United States, reported its results for the first quarter of 2025.
The holding company, made up of BCP, BCP Bolivia, Mibanco, Mibanco Colombia, Grupo Pacífico, Prima AFP, Credicorp Capital, and Krealo, presented its first trimester 2025 results. With a net income of S/1,777.7 million, it registered an increase of 57.8% trimester over trimester (ToT) and 17.6% year over year (YoY), reaching an ROE of 20.3%. Even excluding the extraordinary gain from the operation around the joint venture with Empresas Banmédica, the recorded ROE reaches 18.4%, reflecting the ongoing development of each of the business lines that make up the group.
Alejandro Pérez-Reyes, CFO of Credicorp, emphasized that these results reflect not only Peru’s ongoing economic recovery but also Credicorp’s strong execution across its operations. He noted that increased credit demand, higher fee income, strong performance in insurance, improved funding, and effective risk management drove the group’s risk-adjusted net interest margin (NIM) to a record 5.2%. He reiterated the group’s commitment to sustainable growth and long-term value creation for both clients and shareholders.
Peru’s macroeconomic outlook
Despite global uncertainty and persistent trade tensions, Peru’s economy grew by 3.9% YoY in the first quarter of 2025, maintaining a steady growth rate near 4% for the third consecutive quarter. This growth was mainly driven by non-primary sectors, fueled by improvements in formal employment and real wages. Credicorp projects that the Peruvian economy will expand by approximately 3% in 2025.
Key business milestones
Credicorp reaffirmed its long-term strategy focused on technological investment across its core businesses and disruptive ventures to sustain its competitive edge. Gianfranco Ferrari, CEO of Credicorp, underscored that the strong start to the year reflects the effectiveness of the group’s diversified business model, disciplined risk culture, and favorable macroeconomic context. He highlighted that the innovation portfolio already represents 5.4% of risk-adjusted revenue, with a target of reaching 10% by 2026, driven largely by digital financial inclusion.
A prime example is Yape, which closed the quarter with 14.3 million monthly active users, averaging 52 transactions per user per month. The super app contributed 4.8% of Credicorp’s risk-adjusted revenue. In addition, over 1.6 million users accessed loans through the platform during the first quarter alone.
Commitment to sustainability
Ferrari also announced the launch of Credicorp’s 2025–2030 Sustainability Strategy, building on a legacy of financial inclusion and education to further accelerate the transformations needed in the region.
In the first quarter of 2025, BCP and Yape brought an additional 200,000 people into the formal financial system, bringing the total number of financially included individuals to 6 million since 2020. BCP also provided financial education to more than 81,000 people, promoting healthier financial habits.
In the insurance space, Pacífico Seguros issued more than 2.7 million inclusive insurance policies through BCP, Mibanco, and Yape. Meanwhile, Mibanco expanded its reach through the “Finance for the Future” program, incorporating over 16,000 new SME clients, educating more than 108,000 entrepreneurs, and disbursing S/231 million through its “Crediagua” program to promote access to clean water and sanitation.
BCP’s “Despegue Empresarial” initiative supported over 70,000 clients in improving their credit scores and facilitated more than US$430 million in sustainable financing. In terms of resilience, Pacífico Seguros trained over 11,000 people in risk prevention through programs such as “ABC de Pacífico,” “Comunidad Segura,” and “Protege365.”
Finally, Credicorp published its 2024 Sustainability Report and TCFD Report, reaffirming its commitment to transparency, environmental stewardship, and embedding sustainability at the heart of its corporate strategy.