Credicorp Ltd (0U8N.L) Q2 2025 Earnings Report

Credicorp Ltd delivered solid QQ2 2025 top-line growth with a 36.94% year-over-year increase in revenue to PEN 7.4177 billion and a 2, ensuring a broad-based improvement across profitability metrics. Net income rose 36.06% YoY to PEN 1.8220 billion, supported by a high gross margin (~74.63%) and an operating margin of ~34.53%. The company generated PEN 6.07 billion of operating cash flow and PEN 6.02 billion in free cash flow, underscoring robust cash generation despite a large balance sheet footprint. EPS stood at PEN 22.80, contributing to a 2.49% QoQ increase in net income per share. The balance sheet shows substantial liquidity with PEN 41.47 billion in cash and equivalents and PEN 37.85 billion in short-term investments, complemented by long-term investments and a diversified asset base. Net debt remains negative (net cash position), reflecting strong liquidity, although the current ratio (~0.48) signals liquidity management dynamics typical of large, deposit-funded banks rather than conventional corporate liquidity. The period also reflects accelerated growth vs Q1 and four-quarter momentum that supports a constructive medium-term earnings trajectory. Management commentary on the call (not available in the provided transcript) would be key to confirming near-term guidance, cost-control initiatives, and risk factors across credit quality and regional exposure.