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Credicorp Ltd.

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Credicorp Ltd. Q2 FY26 Results — Earnings Call Analysis

Q2 FY26 earnings call: what management said on revenue, margins and capex.

Price₹342
Market cap₹32.2K Cr
P/E13.4
Updated29 May 2026
Read4 min read

Credicorp Ltd. Q2 FY26 key numbers

Revenue
Yape continues expanding user base, with 16.4 million monthly active users covering ~82% of Peru’s economically active population; users transact 67 times/month, with revenue per user up 65% YoY.

As stated in Credicorp Ltd.'s Q2 FY26 earnings call transcript · published 29 May 2026. Reported figures, not investment advice.

The short version

- Yape's revenue-generating payment volume grew 80% YoY, with lending revenue growing 3.6x YoY; as of Q1 2026, Yape represented 17% of Credicorp's group fee income and 8% of risk-adjusted revenues, up from 12% and 5% respectively, signaling strong growth potential. - The company reaffirms its ROE guidance of around 19.5% for 2026, with confidence in potentially achieving results on the upper side due to strong Q1 performance and positive trends.

From Credicorp Ltd.'s Q2 FY26 earnings-call transcript · updated 29 May 2026.

Revenue & Sales Performance

Moderate growth
  • Yape's revenue-generating payment volume grew 80% YoY, with lending revenue growing 3.6x YoY; as of Q1 2026, Yape represented 17% of Credicorp's group fee income and 8% of risk-adjusted revenues, up from 12% and 5% respectively, signaling strong growth potential.
  • Yape continues expanding user base, with 16.4 million monthly active users covering ~82% of Peru’s economically active population; users transact 67 times/month, with revenue per user up 65% YoY.
  • Mibanco delivered double-digit loan growth (12.4% YoY) and expects loan growth to continue, with retail segments and microfinance accelerating in coming quarters.
  • Overall loan growth guidance stands at 8.5% for the year, though this might be conservative due to positive economic backdrop.

2 more points from Credicorp Ltd.'s call on revenue

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Profitability & Margins

See what Credicorp Ltd. said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

Capex planned
  • Operating expenses increased partly due to higher administrative expenses linked to ongoing investments in strategic projects, primarily digital transformation initiatives to modernize technology and improve client experience (Page 5).
  • Yape is investing in technological capabilities around lending, distribution, and internationalization of the platform; investments are within planned expectations and under control (Page 12).
  • Credicorp is investing in service and digital capabilities, deepening client relationships, and driving market share gains, supporting sustained long-term growth (Page 3).

2 more points from Credicorp Ltd.'s call on capex

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Top-ranked in Banks

Ranked on what management guided this quarter

Guidance-ranked
1Canara Bank
Rev 2Mar 3
2AU Small Finance
Rev 2Mar 3
3
Rev 2Mar 3
4
Rev 2Mar 3
5
Rev 2Mar 3
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Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.

Fundraising & Capital Structure

See what Credicorp Ltd. said on fundraising & capital structure — free account, 30 seconds.

Order Book & Pipeline

The discussion mainly covers: - Economic outlook and political stability in Peru. - Performance metrics of Credicorp and its subsidiaries including loan growth, risk management, profitability, and digital banking platforms like Yape. - Quarter-on-quarter financial results including loan disbursement volumes, costs of risk, and revenue growth.

What the Q2 FY26 call signalled

2 of 3 strong

RevenueModerate growth
MarginMargins slightly up
CapexCapex planned

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Frequently Asked Questions

What were Credicorp Ltd. Q2 FY26 results?

- Yape's revenue-generating payment volume grew 80% YoY, with lending revenue growing 3.6x YoY; as of Q1 2026, Yape represented 17% of Credicorp's group fee income and 8% of risk-adjusted revenues, up from 12% and 5% respectively, signaling strong growth potential. - The company reaffirms its ROE guidance of around 19.5% for 2026, with confidence in potentially achieving results on the upper side due to strong Q1 performance and positive trends.

What is Credicorp Ltd. share price analysis?

Credicorp Ltd. currently shows a below-average growth signal. The stock trades at a P/E of 13.4 with a market cap of $32,232. Investors should review the full earnings analysis for detailed insights.

Is Credicorp Ltd. planning capital expenditure?

- Operating expenses increased partly due to higher administrative expenses linked to ongoing investments in strategic projects, primarily digital transformation initiatives to modernize technology and improve client experience (Page 5).

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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.