Credicorp Ltd. (BAP) reported its fourth‑quarter 2025 results on February 12, 2026, with earnings per share of $5.88, falling short of the consensus estimate of $6.61 by $0.73, a miss of 10.74%.
The revenue figures for the quarter are unclear, with one source reporting total revenue of $2.18 billion and revenue net of interest expense of $1.80 billion, which would represent a beat against forecasts, while another source cites revenue of $1.58 billion against a $1.75 billion estimate, indicating a miss. The discrepancy highlights uncertainty around the company’s top‑line performance.
The earnings miss is largely attributed to weaker net interest income and higher cost of risk, as management noted that a devaluation of the Bolivian currency has pressured consolidated loan growth. Despite the shortfall, the company’s full‑year 2025 net income reached a record $1.94 billion and a return on equity of 19%, underscoring a strong annual performance.
Looking ahead, Credicorp has guided for 2026 loan growth of approximately 8.5%, a net interest margin of 6.4%‑6.7%, and continued efficiency gains. The guidance signals confidence in the company’s digital expansion, particularly the Yape platform, while acknowledging the headwinds from currency volatility.
Analysts noted that the EPS miss may prompt a reassessment of the company’s valuation, but the robust full‑year results and clear guidance suggest that the market will weigh the short‑term earnings shortfall against the company’s long‑term growth trajectory.
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