Equity Profile

BAP

Credicorp Ltd.

FinancialsDiversified Banks$30.9B

Nov5Wed

Pre-Earnings Brief

UpcomingQ2-2018After Close5:00 PM EST

Company Snapshot

Credicorp Ltd. is a diversified financial services company based in Peru, operating in sectors like banking, insurance, and asset management....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of the company's profitability and will help gauge how well Credicorp is managing its costs and revenues.

N/A

Revenue Growth

Revenue growth reflects the company's ability to expand its business and attract customers, which is vital in a competitive financial market.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

BAP Q2-2018 Earnings Preview

Context

Company Snapshot

Credicorp Ltd. is a diversified financial services company based in Peru, operating in sectors like banking, insurance, and asset management. With a market cap of $31 billion, it plays a crucial role in the financial landscape of Latin America, particularly as consumer spending and economic conditions evolve.

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

38%

Avg EPS Surprise

+4.83%

Avg Stock Reaction

-0.05%

Last Quarter Recap

In Q1 2018, Credicorp reported an EPS of $13.01, but there were no analyst estimates for comparison. The stock declined by 2.92% the following day, indicating market disappointment.

Management Promises & Guidance

Expectations

Wall Street Expectations

Overall expectations for Credicorp's upcoming earnings are mixed, with uncertainty surrounding revenue and profitability metrics. Investors are keen to see if the company can maintain its growth trajectory amidst economic challenges.

Bull Case

The optimistic view hinges on strong loan growth and improved profitability, which could signal a robust demand for financial services in the region. If the company beats expectations, it could lead to a positive market reaction.

Bear Case

The pessimistic outlook is based on potential challenges in loan growth and economic headwinds that could impact profitability. A miss on key metrics could lead to further declines in stock price.

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the growth rate of the loan portfolio this quarter?

Loan growth is critical for banks, and any significant change could indicate shifts in market demand or economic conditions.

How has the company managed its operating expenses?

Understanding cost management will help assess the company's profitability and efficiency, especially in a competitive environment.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the impact of regional economic growth on Credicorp's loan demand, which could lead to better-than-expected results.

Supporting Evidence

Options are pricing an 8.05% move, indicating expectations of volatility that may not materialize if growth metrics are strong.

Historical performance shows that Credicorp has consistently beaten EPS estimates, suggesting potential upside.

Key Risk

If loan growth exceeds 10%, it could challenge the current cautious sentiment and lead to a reassessment of the stock's value.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core debate this quarter revolves around the balance between loan growth and cost management, which will significantly impact overall profitability.

Bull Confirmed If

A loan growth rate exceeding 10% would confirm the bull case, indicating strong demand for credit.

Bear Confirmed If

A decline in net interest margin below 3% would confirm the bear case, suggesting profitability challenges.

Pre-Earnings Positioning

Options Market

Implied Move

±8.05%

Historical Avg

±1.1%

Pricing rich

The options market is pricing in a significant move, suggesting that traders expect volatility around the earnings announcement.

Options are pricing ±8.1% while BAP has averaged ±1.1% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.5%

30d HV

39.9%

Calls (100)P/C Ratio: 0.20Puts (0)

Edge

Institutional Ownership

Smart-money positioning from the most recent 13F filings.

Top holders trimming

Institutional

80.97%

of float

Insider

14.62%

of float

Holders

680

institutions

Top Holders· as of Dec 2025

Blackrock Inc.
4,048,826 sh · $1.3B
4.29%
2.5%

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Credicorp beats expectations, history suggests the stock could react positively, with an average 1-day move of around -0.26%, confirming strong demand and effective cost management.

In-Line / Cautious

If results are in line with expectations, the stock may see muted movement as investors await further clarity from management commentary.

Miss

A miss on key metrics could lead to a significant decline, with history suggesting a potential average 1-day move of around -2.92%.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on loan growth rates and demand for credit.
2Management's commentary on cost management strategies.
3Insights into regional economic conditions affecting the business.
4Details on any new financial products or services being launched.
5Guidance on future revenue expectations and market outlook.

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Company Snapshot

Credicorp Ltd. is a diversified financial services company based in Peru, operating in sectors like banking, insurance, and asset management....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of the company's profitability and will help gauge how well Credicorp is managing its costs and revenues.

N/A

Revenue Growth

Revenue growth reflects the company's ability to expand its business and attract customers, which is vital in a competitive financial market.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

BAP Q2-2018 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

38%

Avg EPS Surprise

+4.83%

Avg Stock Reaction

-0.05%

Last Quarter Recap

In Q1 2018, Credicorp reported an EPS of $13.01, but there were no analyst estimates for comparison. The stock declined by 2.92% the following day, indicating market disappointment.

Management Promises & Guidance

Expectations

Wall Street Expectations

Bull Case

Bear Case

The pessimistic outlook is based on potential challenges in loan growth and economic headwinds that could impact profitability. A miss on key metrics could lead to further declines in stock price.

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the growth rate of the loan portfolio this quarter?

Loan growth is critical for banks, and any significant change could indicate shifts in market demand or economic conditions.

How has the company managed its operating expenses?

Understanding cost management will help assess the company's profitability and efficiency, especially in a competitive environment.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the impact of regional economic growth on Credicorp's loan demand, which could lead to better-than-expected results.

Supporting Evidence

Options are pricing an 8.05% move, indicating expectations of volatility that may not materialize if growth metrics are strong.

Historical performance shows that Credicorp has consistently beaten EPS estimates, suggesting potential upside.

Key Risk

If loan growth exceeds 10%, it could challenge the current cautious sentiment and lead to a reassessment of the stock's value.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core debate this quarter revolves around the balance between loan growth and cost management, which will significantly impact overall profitability.

Bull Confirmed If

A loan growth rate exceeding 10% would confirm the bull case, indicating strong demand for credit.

Bear Confirmed If

A decline in net interest margin below 3% would confirm the bear case, suggesting profitability challenges.

Pre-Earnings Positioning

Options Market

Implied Move

±8.05%

Historical Avg

±1.1%

Pricing rich

The options market is pricing in a significant move, suggesting that traders expect volatility around the earnings announcement.

Options are pricing ±8.1% while BAP has averaged ±1.1% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.5%

30d HV

39.9%

Calls (100)P/C Ratio: 0.20Puts (0)

Edge

Institutional Ownership

Smart-money positioning from the most recent 13F filings.

Top holders trimming

Institutional

80.97%

of float

Insider

14.62%

of float

Holders

680

institutions

Top Holders· as of Dec 2025

Blackrock Inc.
4,048,826 sh · $1.3B
4.29%
2.5%

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Credicorp beats expectations, history suggests the stock could react positively, with an average 1-day move of around -0.26%, confirming strong demand and effective cost management.

In-Line / Cautious

If results are in line with expectations, the stock may see muted movement as investors await further clarity from management commentary.

Miss

A miss on key metrics could lead to a significant decline, with history suggesting a potential average 1-day move of around -2.92%.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on loan growth rates and demand for credit.
2Management's commentary on cost management strategies.
3Insights into regional economic conditions affecting the business.
4Details on any new financial products or services being launched.
5Guidance on future revenue expectations and market outlook.