The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.
Banking

BCP set to reap rewards of Peruvian growth in 2018

Country predicted to be fastest-growing economy; political stability and renewed public investment should lead to demand for credit.

Walter-Bayly-R-600
Credicorp’s chief operating officer Walter Bayly

Banco de Crédito del Perú (BCP) has successfully navigated the slowdown in its domestic economy this year and is now well placed to become the most profitable bank in the region in 2018.

In the first half of this year, Peru suffered a sharp slowdown after a severe El Niño weather system disrupted production and a corruption scandal caused the delay of infrastructure projects.

The country’s banks saw a slowing in credit demand in the first half of the year, but are already showing a rebound – aided by an increase in public investment, which the central bank said grew by 24.2% in September 2017 when compared with the same month in 2016.

The early recovery is already visible in the results, announced in November, of the country’s leading private sector bank BCP. The bank accounts for nearly 37% of total deposits and although the bank’s third-quarter loan growth was still soft – up by only 0.9% year-on-year ­– its better-than-expected asset quality led to a 5% increase in quarter-on-quarter pre-tax earnings.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree