Peru's Credicorp posts 12.3% yr/yr rise in net profit in Q2

Credicorp

09/08/2019 24:46

LIMA, Aug 8 (Reuters) - Peruvian financial holding company
Credicorp  BAP.N   BAP.LM  posted 1.099 billion soles ($325.7
mln) in net profit in the second quarter, up 12.3% from the same
period a year earlier thanks to growth in loan balances, the
company said on Thursday.
    The company, which owns Peru's largest bank, Banco de
Credito, said growth was led by retail banking, especially in
mortgages, credit cards and loans for small businesses.
    A 6.5% year-on-year increase in average daily loan balances
helped offset higher expenses for interest on deposits, it said.

 (Reporting by Mitra Taj; 
Editing by Sandra Maler)
 ((mitra.taj@thomsonreuters.com; +51 (1) 277-9550; Reuters
Messaging: mitra.taj.thomsonreuters.com@reuters.net))