Credicorp .(US:BAP)2024-02-10 08:40Financial Performance Highlights - Credicorp delivered resilient full-year results despite a challenging year, with a Return on Equity (ROE) of 15.8%[9] - Net Interest Income increased by 16.6% compared to 2022[9] - The Risk-Adjusted Net Interest Margin (NIM) stood at 4.38%, supported by a funding advantage[9] - The Common Equity Tier 1 (CET1) ratio under IFRS was 13.2%[9] - The efficiency ratio was 46.1%, and the company financially included 4.1 million people[9] Business Segment Performance - Universal Banking contributed 78.5% to the full-year 2023 earnings[17] - Insurance & Pensions contributed 17.1% to the full-year 2023 earnings[17] - Investment Management & Advisory contributed 3.1% to the full-year 2023 earnings[17] - Microfinance contributed 1.3% to the full-year 2023 earnings[17] Digital Initiatives - Mobile Banking Net Promoter Score (NPS) increased by 80% year-over-year[11] - Digital clients increased by 12 percentage points year-over-year, reaching 67.6%[11] - Yape has nearly 11 million active users[35] Outlook and Guidance - The company expects an improvement in macroeconomic conditions in 2024, with a Gross Domestic Product (GDP) growth estimate of 2.5%[9] - The reference rate as of February 2024 was 6.25%[9] - The company projects a real GDP growth of around 2.5% for 2024[79]