Credicorp Ltd (BAP) trades to all-time highs Friday on improved earnings results from a year ago.
The Lima, Peru-based commercial banking holding company reported Q1 EPS of PEN0.13 versus PEN0.10 in the same period a year earlier. Revenue gained 21% to PEN1.29 billion. Analyst estimates were not available.
The company reported a return on average equity of 22.8%, which is the first sign that efforts to recover the profitability levels that reflect the real potential of our banking business are bearing results. The stability in the local market and currency in the second part of last year continued into 2014, as did all efforts to control delinquencies, recover profitability, and curb expenses in our organization. The results of these efforts started to show this Q1, the company said in a release.
In U.S. trading, the stock earlier traded as high as $163.31.
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