August 9, 2019 / 12:09 AM / 3 months ago

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

LIMA, Aug 8 (Reuters) - Peruvian financial holding company Credicorp 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)

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