Equity Profile

BAP

Credicorp Ltd.

FinancialsDiversified Banks$25.6B

Nov5Wed

Pre-Earnings Brief

UpcomingQ2-2018After Close5:00 PM EST

Company Snapshot

Credicorp Ltd. is a diversified financial services company operating primarily in Peru....

Key Metrics to Watch

Net Interest Margin

This metric indicates the profitability of Credicorp's lending activities, which is crucial for assessing its financial health.

N/A

Loan Growth

Strong loan growth can signal increased demand for credit and overall economic activity, impacting revenue positively.

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 operating primarily in Peru. As a major player in the banking sector, it provides a range of services including commercial banking, insurance, and asset management, making it a key contributor to the region's economic growth.

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 the revenue figures were not disclosed. The stock reacted negatively, dropping 2.92% the following day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Investors are cautiously optimistic about Credicorp's upcoming earnings, especially given its historical performance of beating EPS estimates.

Bull Case

If Credicorp continues its trend of strong earnings, it could see significant stock appreciation, particularly if loan growth is robust.

Bear Case

Conversely, if the company fails to meet expectations or reports a rise in non-performing loans, it could lead to a sharp decline in stock value.

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the current Non-Performing Loans ratio?

This ratio will be critical in assessing the quality of Credicorp's loan portfolio and its risk management effectiveness.

How has loan growth trended in the last quarter?

Understanding loan growth will provide insights into the demand for credit and the overall economic environment in Peru.

Edge

What the Street Is Missing

Why consensus could be wrong

The market may be underestimating the impact of economic conditions on loan growth, which could be stronger than anticipated due to recent economic indicators.

Supporting Evidence

Options are pricing an 8.67% move, indicating expectations of volatility that may not align with actual performance.

Historical data shows that Credicorp has consistently beaten EPS estimates, suggesting a potential for positive surprises.

The recent economic recovery in Peru could drive higher demand for loans, contradicting bearish expectations.

Key Risk

If loan growth comes in below 5%, it could challenge the optimistic outlook.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance hinges on the balance between loan growth and asset quality, which are critical for Credicorp's profitability.

Bull Confirmed If

If loan growth exceeds 10% year-over-year, it would strongly support the bull case.

Bear Confirmed If

A Non-Performing Loans ratio above 3% would confirm the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±8.67%

Historical Avg

±1.1%

Pricing rich

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

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 rise by about 1.14%, confirming strong demand for its services.

In-Line / Cautious

If results are in line but management expresses caution, the stock may react neutrally, reflecting uncertainty in future growth.

Miss

Should the company miss expectations, the stock could drop significantly, as seen in previous quarters where negative surprises led to declines.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on the Non-Performing Loans ratio and how it compares to previous quarters.
2Insights into loan growth trends and demand for credit in the current economic climate.
3Management's outlook on the financial sector and potential challenges ahead.
4Details on any new initiatives or products that could drive future revenue.
5Comments on regulatory changes that may impact operations.

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Company Snapshot

Credicorp Ltd. is a diversified financial services company operating primarily in Peru....

Key Metrics to Watch

Net Interest Margin

This metric indicates the profitability of Credicorp's lending activities, which is crucial for assessing its financial health.

N/A

Loan Growth

Strong loan growth can signal increased demand for credit and overall economic activity, impacting revenue positively.

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 the revenue figures were not disclosed. The stock reacted negatively, dropping 2.92% the following day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Investors are cautiously optimistic about Credicorp's upcoming earnings, especially given its historical performance of beating EPS estimates.

Bull Case

If Credicorp continues its trend of strong earnings, it could see significant stock appreciation, particularly if loan growth is robust.

Bear Case

Conversely, if the company fails to meet expectations or reports a rise in non-performing loans, it could lead to a sharp decline in stock value.

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the current Non-Performing Loans ratio?

This ratio will be critical in assessing the quality of Credicorp's loan portfolio and its risk management effectiveness.

How has loan growth trended in the last quarter?

Understanding loan growth will provide insights into the demand for credit and the overall economic environment in Peru.

Edge

What the Street Is Missing

Why consensus could be wrong

The market may be underestimating the impact of economic conditions on loan growth, which could be stronger than anticipated due to recent economic indicators.

Supporting Evidence

Options are pricing an 8.67% move, indicating expectations of volatility that may not align with actual performance.

Historical data shows that Credicorp has consistently beaten EPS estimates, suggesting a potential for positive surprises.

The recent economic recovery in Peru could drive higher demand for loans, contradicting bearish expectations.

Key Risk

If loan growth comes in below 5%, it could challenge the optimistic outlook.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance hinges on the balance between loan growth and asset quality, which are critical for Credicorp's profitability.

Bull Confirmed If

If loan growth exceeds 10% year-over-year, it would strongly support the bull case.

Bear Confirmed If

A Non-Performing Loans ratio above 3% would confirm the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±8.67%

Historical Avg

±1.1%

Pricing rich

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

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 rise by about 1.14%, confirming strong demand for its services.

In-Line / Cautious

If results are in line but management expresses caution, the stock may react neutrally, reflecting uncertainty in future growth.

Miss

Should the company miss expectations, the stock could drop significantly, as seen in previous quarters where negative surprises led to declines.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on the Non-Performing Loans ratio and how it compares to previous quarters.
2Insights into loan growth trends and demand for credit in the current economic climate.
3Management's outlook on the financial sector and potential challenges ahead.
4Details on any new initiatives or products that could drive future revenue.
5Comments on regulatory changes that may impact operations.