Credicorp .(US:BAP)2022-08-16 10:36Financial Performance & Strategy - Credicorp's strategy is validated by key 2Q22 indicators and financial performance[8] - Credicorp remains focused on driving sustainable growth, highlighting consolidated profitability and building disruptors[11] - Credicorp is rearming its appetite for strengthening and consolidating leading core businesses[13] - Core income increased by 15% year-over-year[9] - Return on Equity (ROE) reached 16.9%[9] Key Business Units - Banco de Credito del Peru (BCP) standalone contributed 78.9% to earnings[42] with an ROE of 17.8%[43] - BCP's digital clients represent 58% of total clients[9, 43], with digital sales increasing by 37%[43] - Yape has over 9 million users and is evolving into a super app[45] - Microfinance, including Mibanco, contributed 10.5% to earnings[26] - Insurance & Pensions contributed 8.9% to earnings[27] Financial Metrics & Outlook - Structural loans increased by 14.1% year-over-year[25] - Net Interest Income (NII) increased by 18.7% year-over-year[26] - The structural cost of risk was 1.08%[26] - The company anticipates real GDP growth of 2.5% for the year[9]