Peruvian Credicorp Net Profit Up 75.9 Pct Y/Y Q3 2007

Peruvian financial holding company Credicorp reported a 75.9 pct year-on-year rise in its net profit for the third quarter of 2007 to a total $90.3 mln (61.7 mln euro), the company said on November 9, 2007.

The net profit rose by 3.3 pct compared to the net profit seen in the second quarter of 2007.

The accumulated net profit for January to September 2007 totalled $256.7 mln (175.5 mln), up 54 pct year-on-year.

Credicorp holds a 97.3 pct stake in Peruvian bank Banco de Credito (BCP). The holding Credicorp includes Banco de Credito de Peru, Atlantic Security Holding Corporation and Pacifico Peruano Suiza, listed on the stock exchange in Lima and New York.

BCP continues to be the main contributor of Credicorp's net profit with $88.2 mln (60.3 mln euro). BCP's net profit totalled $238.7 mln (163.2 mln euro) in the nine months to September 2007.

(Note: Unless otherwise stated, all figures/comparisons are for Q3 2007/Q2 2006.)

Publication: Business Digest
Provider: AII Data Processing Ltd.
Date: November 12, 2007

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