RatingJun 24, 2026, 04:07 PM
Credicorp IDRs Upgraded to 'BBB+' by Fitch Ratings
AI Summary
Credicorp Ltd.'s Issuer Default Ratings (IDRs) were upgraded by Fitch Ratings to 'BBB+' from 'BBB', with a Stable Outlook. This upgrade is primarily driven by the strong business and financial profile of its main subsidiary, Banco de Crédito del Perú (BCP). The company demonstrated strong financial performance, maintaining low double leverage and robust liquidity management, supported by consistent subsidiary performance and diversified earnings.
Key Highlights
- Fitch upgraded Credicorp's IDRs to 'BBB+' from 'BBB' with a Stable Outlook.
- Double leverage remained low at 99.6% at year-end 2025, below the 120% threshold.
- Main subsidiary BCP's operating profit-to-RWA improved to 5.19% at year-end 2025.
- Net income reached $7,083 million in 2025 and $2,110 million in Q1 2026.
- Total assets grew to $278,514 million by March 31, 2026.
- Net income/average equity was 21.5% in Q1 2026.
- Gross loans/customer deposits ratio improved to 85.6% in Q1 2026.
Price Impact
More from BAP