Credicorp, a Peruvian holding whose main operating subsidiary in our country is Banco de Credito del Peru (BCP), predicted that the Peruvian gross domestic product (GDP) would register a growth of 12% during this year, during the quarterly presentation to its investors. Before it was 9%.
According to the business group, the Peruvian economy would have rebounded 11.2% between July and September, after falling 8.8% in the same period last year.
“This recovery was mainly based on the country’s macroeconomic soundness, which made it possible to implement expansionary monetary and fiscal policies, as well as a favorable international environment with high copper price levels,” he explained.
In this sense, Credicorp stressed that the reactivation of the Peruvian economy was aligned with the improvement of the health situation and the rebound in the vaccination process, so that the Peruvian GDP would grow 12% during 2021, adjusting its estimate upwards.
Indeed, the CEO of Credicorp, Walter Bayly, said that the organization is in a very solid position, having recovered from the negative impact caused by the COVID-19 pandemic in the global economy and especially in Peru.
Credicorp achieves US $ 282 million in net profit
Credicorp reported that, during the third quarter of 2021, it obtained a net profit of S / 1,164 million (approximately US $ 282 million), translated into a ROAE (Return on average equity, or return on average equity) and ROAA (Return on average assets, or return on average assets) of 18.5% and 1.9%, respectively.
Credicorp CFO César Ríos noted that Credicorp’s results were driven by recovery in most of its business lines.
In universal banking, profitability was explained by the low level of provisions and growth in core income, while in microfinance, Mibanco showed a positive evolution of lower-risk structural disbursements, where the implementation of the hybrid model has been bearing fruit, he said.
He also noted that the holding, which groups together BCP, BCP Bolivia, Credicorp Capital, Grupo Pacífico, Prima AFP, Mibanco, Mibanco Colombia, Atlantic Security Bank and Krealo, will continue to accelerate the generation of value through digital transformation in its subsidiaries. .
Credicorp: BCP’s digital bank advances
As of September 2021, 57% of BCP’s clients are digital and 38% of Mibanco’s disbursements were made through alternative channels, mainly digital solutions.
On the other hand, the Yape digital wallet reported remarkable growth: in the third quarter of the year, 21% of BCP monetary transactions were carried out through this channel, surpassing mobile banking, Credicorp highlighted.
Two years ago, only 2% of BCP’s monetary transactions were carried out through Yape. To date, the digital wallet has 7.2 million users.
.
Kingston is an accomplished author and journalist, known for his in-depth and engaging writing on sports. He currently works as a writer at 247 News Agency, where he has established himself as a respected voice in the sports industry.
