Credicorp .(US:BAP)2025-05-16 14:06Financial Performance Highlights - Credicorp achieved a robust ROE of 20.3% in 1Q25, or 18.4% excluding extraordinary income related to Empresas Banmedica acquisition[14, 112] - The innovation portfolio contributed 5.4% of risk-adjusted revenues in 1Q25, aiming for 10% by 2026[14, 114] - The efficiency ratio stood at 45.7% in 1Q25[14, 104] Key Financial Metrics - Risk-adjusted NIM was 5.24% in 1Q25, a 16 bps increase compared to 4Q24[14] - The NPL ratio improved to 5.1%, a decrease of 112 bps year-over-year[23] - The cost of risk decreased to 1.6%, a decrease of 66 bps year-over-year[23] Business Segment Performance - Universal Banking's ROE was 27.1% in 1Q25[44] - Yape generated 4.8% of Credicorp's risk-adjusted revenues in 1Q25, with over 14 million monthly active users (MAU)[55] - Mibanco Peru's ROE was 14.7% in 1Q25[62] Economic Context and Outlook - Peru's GDP grew approximately 4% year-over-year in 1Q25[26] - The company maintains its 2025 GDP growth guidance of around 3%[109] - The reference rate in Peru as of May 2025 was 4.50%[14]