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Credicorp Q3 2026 profit rises 11% to S/1.93B

Yape had 17.0 million monthly active users and a loan portfolio of S/2.3 billion, nearly four times its 3Q25 balance.

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Form Type
6-K

Rhea-AI Filing Summary

Credicorp Ltd. reported unaudited third-quarter 2026 results with net income attributable to Credicorp of S/1,929.4 million, up 11.0% year over year, and a 19.9% return on equity. Loans rose 14.8% year over year to S/166.2 billion, while deposits increased 14.3% to S/181.0 billion. Net interest income rose 17.7%, and net interest margin reached 6.93%, up 36 basis points year over year.

Asset quality included a 3.9% NPL ratio, down 91 basis points year over year, and a 2.0% cost of risk. Credit-loss provisions rose 37.4% year over year, including additional provisions following the quarter-end El Niño assessment, whose base scenario was “Very Strong.” The insurance underwriting result decreased 6.7% year over year. In the first nine months of 2026, the efficiency ratio improved 26 basis points to 45.4%; Credicorp reaffirmed 2026 ROE guidance of around 19.5% and medium-term guidance of around 22%.

2 points · 0 major

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How the balance works

Positive

  • Moderate pointNet income attributable rose 11.0% year over year in 3Q26.
  • Moderate pointNet interest income rose 17.7% year over year in 3Q26.

Negative

  • Moderate pointCredit-loss provisions increased 37.4% year over year in 3Q26.
  • Minor pointInsurance underwriting result declined 6.7% year over year in 3Q26.
Net income attributable to Credicorp S/1,929.4 million 3Q26; up 11.0% year over year
Return on equity 19.9% 3Q26
Total loans S/166.2 billion Quarter-end balance at September 30, 2026; up 14.8% year over year
Total deposits S/181.0 billion Quarter-end balance at September 30, 2026; up 14.3% year over year
Net interest margin 6.93% 3Q26; up 36 basis points year over year
NPL ratio 3.9% 3Q26; down 91 basis points year over year
Cost of risk 2.0% 3Q26
Net provision for credit losses on loan portfolio S/828.1 million 3Q26; provision expense increased 37.4% year over year
Risk-Adjusted Net Interest Margin financial
"Risk-Adjusted Net Interest Margin(1)"
Cost of Risk financial
"Cost of Risk (CoR) for the period stood at 2.0%"
Cost of risk is the total expected financial hit a business expects from its exposure to loss, combining actual payouts (like claims or write‑downs), administrative expenses to handle those losses, and the capital set aside to cover them. Think of it as the combined “insurance premium, deductible and emergency fund” for a company; it directly affects profitability, cash flow and how much capital is tied up, so investors watch it to judge future earnings stability and management quality.
Non-performing loans (NPLs) financial
"Non-performing loans (NPLs)"
Liquidity Coverage Ratio financial
"the Liquidity Coverage Ratio (RCL) in PEN at 30 days"
The liquidity coverage ratio is a banking rule that measures whether a bank has enough high-quality, easy-to-sell assets to cover expected net cash outflows for 30 days. Think of it as a household’s emergency fund that must cover a month of bills; for investors, a higher ratio means the bank is better positioned to survive short-term stress, reducing the risk of fire sales, funding problems, or sudden capital needs that can hurt the share price.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How much did Credicorp (BAP) earn in 3Q26?
Net income attributable to Credicorp was S/1,929.4 million in 3Q26, up 11.0% year over year; reported return on equity was 19.9%.

Why did Credicorp (BAP) increase provisions in 3Q26?
Credicorp’s credit-loss provisions rose 37.4% year over year, reflecting additional provisioning after the quarter-end El Niño risk assessment evolved to a “Very Strong” base scenario, as well as loan growth in retail segments, particularly higher-yield portfolios. Cost of risk was 2.0%.

How did Yape perform at Credicorp (BAP) in 3Q26?
Yape reported 17.0 million monthly active users, up 9.8% year over year, while transactions increased 35.1%. Its loan portfolio reached S/2.3 billion, nearly four times its 3Q25 balance, and lending accounted for 31% of Yape’s revenues at quarter-end.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 6-K: How Foreign Companies Report to the SEC →
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 under the
Securities Exchange Act of 1934
For the month of November 2026
Commission File Number: 001-14014
CREDICORP LTD.
(Translation of registrant’s name into English)
Of our subsidiary
Banco de Credito del Peru:
Calle Centenario 156
La Molina 15026
Lima, Peru
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40- F.
Form 20-F ☒ Form 40-F ☐
The information in this Form 6-K (including any exhibit hereto) shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act.


SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Date: November 10, 2026
CREDICORP LTD.
(Registrant)
By:/s/ Milagros Cigüeñas
Milagros Cigüeñas
Authorized Representative


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Earnings Release 3Q / 2026
Analysis of 3Q26 Consolidated Results
Table of Contents
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Operating and Financial Highlights
03
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Senior Management Quotes
05
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Third Quarter 2026 Earnings Conference Call
06
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Summary of Financial Performance and Outlook
07
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Financial Overview
12
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Credicorp’s Strategy Update
13
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Analysis of 3Q26 Consolidated Results
17
01
Loan Portfolio
17
02
Deposits
20
03
Interest Earning Assets and Funding
23
04
Net Interest Income (NII)
24
05
Portfolio Quality and Provisions
27
06
Other Income
31
07
Insurance Underwriting Results and the Medical Services
34
08
Operating Expenses
37
09
Operating Efficiency
39
10
Regulatory Capital
40
11
Economic Outlook
42
12
Appendix
46
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Earnings Release 3Q / 2026
Analysis of 3Q26 Consolidated Results
Credicorp Ltd. Reports Financial and Operating Results for 3Q26

3Q26 ROE of 19.9%, supported by loan growth, healthy asset quality and diversified revenues; FY26 guidance of ~19.5% and the medium-term expectation of ~22% reaffirmed.
Loans up 14.8% YoY and the NPL ratio improved -91 bps to 3.9%; CoR was 2.0%, including additional El Niño provisions, reflecting the updated quarter-end El Niño assessment, while NPL coverage rose to 120.9%.
Core income reached a new quarterly high, up 18.0% YoY, with Risk-Adjusted NIM improving to 5.7% on margin expansion and transactional deposits growth.
Innovation Portfolio contributed 10.7% of Credicorp’s risk-adjusted revenues, while
Yape’s contribution rose to 9.8% as monetization accelerated.
Efficiency improved -26 bps YoY to 45.4% in 9M26, reflecting operating leverage alongside continued strategic investment.

Lima, Peru – November 9, 2026 – Credicorp Ltd. (“Credicorp” or “the Company”) (NYSE: BAP | BVL: BAP), the leading financial services holding company in Peru with a presence in Chile, Colombia, Bolivia, and Panama today reported its unaudited results for the three- and nine-months ended September 30, 2026. Financial results are expressed in Soles and are presented in accordance with IFRS.

3Q26 OPERATING AND FINANCIAL HIGHLIGHTS
•Net income attributable to Credicorp reached S/1,929.4 million, up 11.0% YoY and down 2.6% QoQ, resulting in ROE of 19.9%, driven by accelerating loan growth, healthy asset quality and diversified revenue growth fueled by strong transactional activity and continued investment in digital capabilities.
•Total loans measured in quarter-end balances increased 14.8% YoY (15.2% FX-neutral) and 4.2% QoQ (4.0% FX-neutral). YoY growth was led by BCP’s Retail Banking, particularly Consumer and SME-Pyme, followed by Wholesale Banking, and to a lesser extent Mibanco. QoQ expansion reflected growth in BCP’s same segments and at Mibanco, where disbursements reached a record high in September.
•Total Deposits increased 14.3% YoY (14.8% FX-neutral) but declined 0.6% QoQ (0.9% FX-neutral). YoY growth was supported mainly by low-cost deposits, which represented 73.2% of total deposits and 62.0% of the funding base. The sequential decline reflected the normalization of a temporary Wholesale demand deposit recorded at 2Q26-end and partial migration from demand to time deposits.
•Net Interest Income (NII) increased 17.7% YoY and 6.0% QoQ, primarily driven by loan growth at BCP and Mibanco, particularly in higher-yielding segments. Net Interest Margin (NIM) expanded 36 bps YoY to 6.9%, as the yield on interest-earning assets rose to 8.8% and growth in low-cost deposits reduced the funding cost to 2.2%.
•Asset Quality continued to improve, with the NPL ratio declining -91 bps YoY and -15 bps QoQ to 3.9%. Performance registered stronger origination, monitoring and collections capabilities, particularly at BCP Stand-alone, reflecting positive payment behavior and healthy vintages.
•Provisions increased 37.4% YoY and 13.3% QoQ, reflecting additional provisioning after the El Niño risk assessment evolved to a “Very Strong” base scenario at quarter-end, with a Cost of Risk standing at 2.0%. YoY, underlying provisions increased alongside loan growth at BCP and Mibanco, reflecting a greater contribution from higher-yielding portfolios. Cost of Risk stood at 2.0%, NPL coverage strengthened to 120.9%, while Risk-Adjusted NIM improved 13 bps to 5.7%.
•Other Core Income increased 18.8% YoY and 3.2% QoQ, rising to 29.3% of total risk-adjusted income as Credicorp continues to diversify revenues. Growth was led by increases of 20.4% and 14.3% in fee income and FX gains, respectively.

•Insurance Underwriting Result declined 6.7% YoY, reflecting a tough comparison in Life’s D&S line following SISCO reserve releases in 3Q25, partially offset by stronger P&C results. QoQ, results increased 25.8% driven by higher
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Earnings Release 3Q / 2026
Analysis of 3Q26 Consolidated Results
premiums and lower claims in Life and P&C, together with Corporate Health revenue growth from new accounts and renewals. Medical Services maintained solid commercial performance and disciplined expense management.

•Yape further consolidated its position as Peru’s leading digital ecosystem, as deeper day-to-day engagement translated into continued monetization gains. MAU rose 9.8% YoY to 17.0 million, while transactions grew 35.1% YoY, averaging 71 per MAU per month. Revenue per MAU rose to S/11.9, nearly twice expenses per MAU of S/6.1, raising Yape’s contribution to Credicorp’s risk-adjusted revenues to 9.8%, from 6.4% in 3Q25. Meanwhile, loans nearly quadrupled YoY to S/2.3 billion, with lending representing 31% of Yape’s risk-adjusted revenues.
•Efficiency Ratio improved 26 bps YoY to 45.4% in 9M26, remaining within 2026 guidance. Operating expenses increased 13.6% YoY for the first nine months this year, mainly reflecting continued investment in BCP’s commercial, technology and risk-management capabilities, and higher variable compensation aligned with stronger results. Innovation portfolio expenses rose 32.5%, supporting continued growth in risk-adjusted revenues.
•Solid capital base, with IFRS CET1 ratios at 11.9% for BCP Stand-alone and 15.1% for Mibanco.
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Earnings Release 3Q / 2026
Analysis of 3Q26 Consolidated Results
SENIOR MANAGEMENT QUOTES
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“
“Credicorp delivered another strong quarter, reflecting solid performance across our businesses and a broader earnings base. Our innovation portfolio contributed 10.7% of risk-adjusted revenues, already exceeding our year-end target. Peru’s economy continues to build momentum, supported by domestic demand, private investment and a strong macro backdrop. However, the expected intensity of El Niño has increased, shifting our quarter-end base case to a Very Strong scenario. We prepared early by strengthening contingency plans and moderating origination in vulnerable consumer and SME segments and stand ready to support families, businesses and communities through potential disruptions. Our results reinforce our confidence in Credicorp’s ability to fulfill that responsibility while generating sustainable returns, with a medium-term ROE of around 22%. At our November 17 Strategic Update, we will discuss how the capabilities of our integrated ecosystem can support our next phase of growth, operating leverage and sustainable returns.”
Gianfranco Ferrari, CEO ”
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“
Credicorp delivered a 19.9% ROE in the third quarter, supported by accelerating loan growth, robust revenues and healthy underlying credit trends. Importantly, this result includes provisions based on our quarter-end assessment of El Niño risk. Loan growth in higher-yielding segments supported net interest income and margins, while our investments in digital capabilities fueled strong transactional activity driving low-cost funding advantage and fee income. Core income growth also supported improved efficiency, demonstrating the increasing scalability of our business model. Asset quality remained sound, supported by improved origination and collection capabilities, while our robust capital position provides capacity to absorb potential volatility. As we enter the final quarter, we remain focused on profitable growth and disciplined risk management. We remain on track to deliver our 2026 ROE guidance of around 19.5%.
Ignacio Belaunde, CFO”
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Earnings Release 3Q / 2026
Analysis of 3Q26 Consolidated Results
Third Quarter 2026 Earnings Conference Call
THIRD QUARTER 2026 EARNINGS CONFERENCE CALL
Date: Tuesday, November 10th, 2026
Time: 9:30 am E.T. (9:30 am Lima, Perú)
Hosts: Gianfranco Ferrari – Chief Executive Officer; Ignacio Belaunde – Chief Financial Officer; Francesca Raffo – Chief Innovation Officer; Cesar Rios – Chief Risk Officer; Diego Cavero – Head of Universal Banking and CEO of BCP; Eduardo Montero – Head of Insurance and Pensions and CEO of Pacífico; Rocio Benavides - CFO of Mibanco and the Investor Relations Team.
To pre-register for the listen-only webcast presentation use the following link:
https://dpregister.com/DiamondPassRegistration/register?confirmationNumber=10212780&linkSecurityString=1051f96b8f4    

Callers who pre-register will be given a conference passcode and unique PIN to gain immediate access to the call and bypass the live operator. Participants may pre-register at any time, including up to and after the call start time.
Those unable to pre-register may dial in by calling:
1 844 435 0321 (U.S. toll free)
1 412 317 5615 (International)
Participant Web Phone: Click Here
Conference ID: Credicorp Conference Call
The webcast will be archived for one year on our investor relations website at:
https://credicorp.gcs-web.com/events-and-presentations/upcoming-events
For a full version of Credicorp´s Second Quarter 2026 Earnings Release, please visit:
https://credicorp.gcs-web.com/company-reports/quarterly-materials
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Earnings Release 3Q/ 2026
Analysis of 3Q26 Consolidated Results
Loans in Quarter-End Balances
Total loans (measured in quarter-end balance) expanded 4.2% QoQ and 14.8% YoY.
If we exclude the exchange rate effect, total loans rose 4.0% QoQ and 15.2% YoY.
QoQ growth was driven mainly by: (i) an uptick in loans in Consumer and SME-Pyme at BCP; (ii) an increase in short-term loan issuances in Wholesale Banking at BCP; and (iii) loan growth at Mibanco, with loan disbursement volumes reaching a record high in September.
YoY, the evolution was driven mainly by: (i) expansion in most Retail Banking segments at BCP; (ii) growth in short and long term lending in Wholesale Banking at BCP; and (iii) solid loan growth at Mibanco.
Deposits
The total deposit balance (measured in quarter-end balances) dropped 0.6% QoQ, but rose 14.3% YoY.
The QoQ decline mainly reflected the normalization of a temporary Wholesale deposit. YoY, growth was spurred by expansion in the balance for low-cost deposits, which represented 73.19% of total deposits at the end of September (+281 bps YoY). This evolution attests to the strength of our transactional proposition and our capacity to capture deposits in a high-liquidity environment.
At BCP, the Liquidity Coverage Ratio (RCL) in PEN at 30 days stood at 162.7% under regulatory standards and 142.3% by stricter internal standards. The LCR in USD at 30 days stood at 144.0% under regulatory standards and 110.5% under stricter internal standards.

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4.2% QoQ
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14.8% YoY

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▼
-0.6% QoQ
▲
14.3% YoY



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Earnings Release 3Q/ 2026
Analysis of 3Q26 Consolidated Results
Net Interest Income (NII) and Margin (NIM)
QoQ, Net Interest Income (NII) increased 6.0%. This result was mainly driven by an increase in Income and Similar Interest, which rose on the back of an increase in interest on Loans after volumes ticked up at BCP and Mibanco. Growth in NII was partially offset by an increase in Interest and similar expenses, which grew alongside growth in time deposits.

YoY, NII increased 17.7%. This evolution was mainly triggered by an increase in Interest and similar income, which rose alongside an uptick in loans (through the same drivers seen QoQ). This uptick was partially offset by Interest and similar expenses, which ticked up on the back of growth in time deposits. In this context, NIM rose 36 bps YoY to stand at 6.93% at the end of 3Q26.
Portfolio Quality and Cost of Risk
Asset quality continued to evolve favorably, backed by improvements in the origination and heightened capacities for monitoring, collections and recovery.

QoQ, NPLs rose 0.4%, which was driven by loan growth at BCP Stand-alone’s retail portfolio and Mibanco. The latter was attenuated by the favorable evolution of Wholesale Banking at BCP Stand-alone.

YoY, the NPL portfolio dropped 7.0%. This evolution was attributable to BCP Stand-alone, which registered improvements in payment dynamics and better performance for recent vintages in Retail Banking.
In a context of solid loan growth, Credicorp’s NPL ratio dropped -15 bps QoQ to stand at 3.9%.

Provisions rose 13.3% QoQ and 37.4% YoY, partially driven by our risk assessment of the El Niño Phenomenon, with a “Very Strong” event becoming our base-case scenario at quarter-end. The Cost of Risk (CoR) for the period stood at 2.0%.
Underlying provisions were relatively stable QoQ, as higher provisions in BCP Retail Banking and Mibanco were offset by improved performance in BCP Wholesale Banking.
YoY, underlying provisions increased, driven primarily by BCP Stand-alone and, to a lesser extent, Mibanco. In both cases, higher provisions mainly reflected loan growth.

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6.0% QoQ
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17.7% YoY
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0.4% QoQ
▼
-7.0% YoY

Cost of Risk (%)

110.1%117.3%120.9%NPL Coverage Ratio
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Earnings Release 3Q/ 2026
Analysis of 3Q26 Consolidated Results



Other Income
Other Core income rose 3.2% QoQ and 18.8% YoY, mainly driven by higher fee income as transaction volumes increased. FX gains normalized QoQ after two strong quarters, while increasing YoY on higher transaction volumes and improved pricing.





Insurance Underwriting Result
The Insurance Underwriting Result (IUR) increased 25.8% QoQ, fueled by (i) Life, which reported growth in premiums and a reduction in claims for the business’s main products; (ii) Corporate Health, which reported growth in revenues from new accounts and renewals; and (iii) P & C, which reported an uptick in total premiums and a drop in claims. YoY, the IUR fell (-6.7%). This evolution was driven by Life, mainly through the D&S line, which reported a base effect associated with releases of reserves for SISCO claims in 3Q25. The drop in Life’s result was partially offset by an uptick for P & C, which was driven by growth in premium production and a drop in the loss ratio for Medical Assistance.
Medical Services continues to report solid commercial results, while maintaining disciplined expense management.

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TotalCore
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-7.4% QoQ
3.2% QoQ
▲▲
14.4%YoY
18.8%YoY
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25.8% QoQ
▼
-6.7% YoY


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Earnings Release 3Q/ 2026
Analysis of 3Q26 Consolidated Results
Efficiency
Operating expenses increased 13.6% for the first nine months of the year, fueled primarily by an increase in Administrative Expenses, and secondarily, an uptick in the Employee Salaries and Benefits line. Administrative Expenses increased mainly due to higher technology costs at BCP, reflecting greater cloud usage and other IT-related services as transaction volumes grew. Employee Salaries and Benefits increased as BCP continued to strengthen its technology, commercial and risk management capabilities, and due to higher variable compensation at BCP and Mibanco, in line with improved results. Expenses for our innovation portfolio increased 32.5%, supporting continued growth in risk-adjusted revenues.

Operating Income rose 14.3% YTD. In this context, the Efficiency Ratio stood at 45.4% for the first nine months of the year, in line with this year’s guidance.

Net earnings attributable to Credicorp
In 3Q26, net earnings attributable to Credicorp stood at S/1,929.4 million (-2.6% QoQ and +11.0% YoY), which translated into an ROE of 19.9% for the quarter. This evolution was backed by solid results in all our lines of business. For the first nine months of the year, Credicorp reported net attributable earnings of S/5,974.5 million (+11.9% YTD). This evolution was supported by the strength of our integrated business ecosystem and favorable economic conditions. In this context, ROE stood at 20.4% for the first nine months this year.

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-2.6% QoQ
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11.0% YoY
Contributions and ROE by Subsidiary in 3Q26
(S/ million)
ROEROEROEROEROEROEROEROEROE
27.7%15.2%20.0%18.4%20.6%27.9%9.5%16.0%19.9%
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(1)In BCP Stand-alone, the figure is lower than the net profit since the contribution eliminates investment gains in other subsidiaries of Credicorp (Mibanco)
(2)In Mibanco, the figure is less than the net profit because Credicorp owns (directly and indirectly) 99.921% of Mibanco.
(3)The contribution for Grupo Pacifico presented here is greater than the profit of Pacifico Seguros since 100% of Crediseguros is being included (including 48% under Grupo Crédito).
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Earnings Release 3Q/ 2026
Analysis of 3Q26 Consolidated Results
Universal Banking
Solid performance is driven by growth, diversified revenue streams and disciplined risk management
│
BCP continued to report solid profitability, which was supported by loan growth; an increase in the margin; higher transactional income; and healthy underlying credit trends. Growth was led by Retail Banking, while NIM increased on the back of a drop in the funding cost and an increase in the share of higher-yield assets. Asset quality continued to improve due to improvements in origination and collections capacities. Provisions increased, partly reflecting additional provisions following our assessment of El Niño risk as of quarter-end. Underlying credit trends remain healthy, within expectations.
Microfinance
Loan Growth, efficiency gains and disciplined risk management fuel profitability
│
Mibanco continued to evolve positively, backed by loan growth, an uptick in the margin, operating leverage and disciplined risk management. Provisions trended upwards reflecting our reassessment of El Niño risk at quarter end, while the performance of the underlying credit remained healthy. Growth in fee income from insurance, which rose alongside loan expansion, contributed to revenue diversification and the efficiency ratio continued to improve. Mibanco Colombia registered solid performance, supported by growth in the client base; disciplined risk management; and improvements in commercial productivity.
Insurance & Pensions
Sustained profitability supported by business fundamentals
│
Grupo Pacífico maintained robust profitability, driven mainly by growth in the Life Business, which was led by Annuities and Individual Life. Corporate Health also contributed to expansion through an increase in both premium production and the client base. Medical Services, in turn, remained stable. These results were partially offset by a drop in P & C’s performance, which was mainly attributable to the Commercial Lines and Cars.
Investment Management & Advisory
Recurring Revenue Growth Underpins Profitability
│
Investment Management and Advisory’s profitability remained resilient, bolstered by the favorable performance of its recurring businesses. YoY, the Capital Markets business was the main revenue contributor this quarter, where expansion was led by an uptick in volumes of FX transactions. Asset and Wealth Management acted as secondary driver, buoyed by expansion in assets under management (AUMs). This evolution was more than offset by an uptick in operating expenses.
Outlook
We reaffirm our 2026 ROE guidance of around 19.5%. This outlook is supported by stronger loan growth, NIM and risk-adjusted NIM trending toward the high end of guidance, and stronger fee income.
We reaffirm our medium-term ROE guidance of around 22%.

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Earnings Release 3Q / 2026
Analysis of 3Q26 Consolidated Results
Financial Overview

Credicorp Ltd. Quarter% ChangeUp to% Change
S/ 0003Q252Q263Q26QoQYoYSep 25Sep 26Sep 26 / Sep 25
Net interest, similar income and expenses3,687,8294,096,9514,341,1246.0%17.7%10,875,21212,400,80214.0%
Provision for credit losses on loan portfolio, net of recoveries(602,918)(731,208)(828,136)13.3%37.4%(1,759,970)(2,041,432)16.0%
Net interest, similar income and expenses, after provision for credit losses on loan portfolio 3,084,9113,365,7433,512,9884.4%13.9%9,115,24210,359,37013.6%
Other income1,654,1912,042,2021,891,679-7.4%14.4%5,021,7805,790,20515.3%
Insurance underwriting result388,350288,014362,32325.8%-6.7%1,068,357949,400-11.1%
Medical services result123,953133,439136,3872.2%10.0%289,961393,66435.8%
Total expenses(2,744,642)(2,989,462)(3,108,580)4.0%13.3%(7,907,826)(8,938,873)13.0%
Profit before income tax 2,506,7632,839,9362,794,797-1.6%11.5%7,587,5148,553,76612.7%
Income tax(728,308)(814,357)(820,898)0.8%12.7%(2,129,746)(2,444,146)14.8%
Net profit1,778,4552,025,5791,973,899-2.6%11.0%5,457,7686,109,62011.9%
Non-controlling interest39,80043,65744,4881.9%11.8%119,401135,10313.2%
Net profit attributable to Credicorp1,738,6551,981,9221,929,411-2.6%11.0%5,338,3675,974,51711.9%
Dividends paid to third parties—3,978,758—n.a.n.a.3,181,4403,978,75825.1%
Net income / share (S/)21.925.024.3-2.6%10.9%67.375.211.8%
Dividends per Share (S/) —50—n.a.n.a405025.0%
Loans144,752,254159,434,397166,161,0424.2%14.8%144,752,254166,161,04214.8%
Deposits and obligations158,430,455182,120,766181,018,857-0.6%14.3%158,430,455181,018,85714.3%
Net equity36,560,50238,121,92439,629,2604.0%8.4%36,560,50239,629,2608.4%
Profitability
Net interest margin (1)6.57%6.63%6.93%30 bps36 bps6.33%6.79%46 bps
Risk-adjusted Net interest margin 5.53%5.49%5.66%17 bps13 bps5.34%5.71%37 bps
Funding cost (2)2.43%2.15%2.25%10 bps-18 bps2.40%2.20%-20 bps
ROAE19.6%20.3%19.9%-44 bps27 bps20.1%20.4%35 bps
ROAA2.8%2.8%2.7%-11 bps-5 bps2.8%2.9%7 bps
Loan portfolio quality
Internal overdue ratio (3)3.4%2.8%2.7%-10 bps-69 bps3.4%2.7%-69 bps
Internal overdue ratio over 90 days2.9%2.3%2.2%-7 bps-64 bps2.9%2.2%-64 bps
NPL ratio (4)4.8%4.1%3.9%-15 bps-91 bps4.8%3.9%-91 bps
Cost of risk (5)1.7%1.9%2.0%16 bps34 bps1.6%1.7%10 bps
Coverage ratio of IOLs154.9%168.2%172.5%432 bps1757 bps154.9%172.5%1757 bps
Coverage ratio of NPLs 110.1%117.3%120.9%363 bps1083 bps110.1%120.9%1083 bps
Operating efficiency
Operating income (6)5,670,6906,231,1106,644,3466.6%17.2%16,540,19018,904,56814.3%
Operating expenses (7)2,629,4612,825,9952,997,5916.1%14.0%7,555,0438,586,21413.6%
Efficiency ratio (8) 46.4%45.4%45.1%-24 bps-125 bps45.7%45.4%-26 bps
Operating expenses / Total average assets4.2%4.0%4.2%19 bps4 bps3.9%4.1%23 bps
Capital adequacy - BCP Stand-alone
Global Capital Ratio (9)17.72%17.27%16.54%-73 bps-118 bps17.72%16.54%-118 bps
Ratio Tier 1 (10)12.82%11.40%11.69%29 bps-113 bps12.82%11.69%-113 bps
Ratio common equity tier 1 (11) (12)13.17%11.70%11.92%23 bps-125 bps13.17%11.92%-125 bps
Capital adequacy - Mibanco
Global Capital Ratio (9)21.13%20.61%20.64%3 bps-48 bps21.13%20.64%-48 bps
Ratio Tier 1 (10)17.13%16.32%15.63%-69 bps-150 bps17.13%15.63%-150 bps
Ratio common equity tier 1 (11) (12)17.14%15.90%15.14%-76 bps-201 bps17.14%15.14%-201 bps
Employees (13)50,16952,77053,4961.4%6.6%50,16953,4966.6%
Share Information
Issued Shares94,38294,38294,382—%—%94,38294,382—%
Treasury Shares (14)15,01614,96314,963—%-0.4%15,01614,963-0.4%
Outstanding Shares79,36679,41979,419—%0.1%79,36679,4190.1%
    

(1) Net Interest Margin = Net Interest Income (Excluding Net Insurance Financial Expenses) / Average Interest Earning Assets
(2) Funding Cost = Interest Expense (Does not include Net Insurance Financial Expenses) / Average Funding
(3) Internal Overdue Loans: includes overdue loans and loans under legal collection, according to our internal policy for overdue loans. Internal Overdue Ratio: Internal overdue loans / Total loans
(4) Non-performing loans (NPL): Internal overdue loans + Refinanced loans. NPL ratio: NPL / Total loans.
(5) Cost of risk = Annualized provision forloan losses, net of recoveries/ Average Total loans.
(6) Operating Income = Net interest, similar income and expenses + Fee Income+ Net gain on foreign exchange transactions + Net Gain From associates + Net gain on derivatives held for trading + Result on exchange differences + Insurance Underwriting Result + Medical services result.
on exchange differences + Insurance Underwriting Result + Medical services result."
(7) Operating Expenses = Salaries and employee benefits + Administrative expenses + Depreciation and amortization + Association in participation + Acquisition cost.
(8) Efficiency Ratio = Operating Expenses / Operating Income.
(9) Regulatory Capital / Risk-weighted assets (legal minimum = 10% since July 2011).
(10) Tier 1 = Capital + Legal and other capital reserves + Accumulated earnings with capitalization agreement + (0.5 x Unrealized profit and net income in subsidiaries) - Goodwill - (0.5 x Investment in subsidiaries) + Perpetual subordinated debt (the maximum amount that can be included is 17.65% of Capital + Reserves + Accumulated earnings with capitalization agreement + Unrealized profit and net income in subsidiaries - Goodwill)
(11) Common Equity Tier I = Capital + Reserves – 100% of applicable deductions (investment in subsidiaries, goodwill, intangibles and net deferred taxes that rely on future profitability) + retained earnings + unrealized gains
(12) Common Equity Tier I calculated based on IFRS Accounting.
(13) Internal management figures. Since 1Q25, it has included corporate health and medical services employees.
(14) Considers shares held by Atlantic Security Holding Corporation (ASHC) and stock award.

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Earnings Release 3Q / 2026
Analysis of 3Q26 Consolidated Results
Credicorp’s Strategy Update
Credicorp’s Strategy
We invite you to learn more about the evolution of our strategy execution and our outlook at our Strategic Update event, which will be held on November 17, 2026 at 9:00 a.m. EST/PET. You can register here: Strategic Update 2026.
Credicorp has strengthened its leadership in the Andean region through a strategy anchored in digital transformation and innovation, talent development, and the integration of sustainability into the core of its business. The company has transitioned into an integrated financial ecosystem—one where the whole is increasingly greater than the sum of its parts—supported by four differentiated growth levers:

1. Prioritizing Leading Market Positions in Underpenetrated Markets with Clear Growth Avenues
Credicorp holds leading positions across mature core businesses in markets that remain structurally underpenetrated. In Peru, low levels of financial inclusion and insurance coverage, together with high informality, continue to create significant room to expand access to financial, payment, insurance, and remittance products and services. This provides a long runway for sustainable growth.

2. Scaling an Integrated Digital Ecosystem
Backed by its innovation portfolio, Credicorp has evolved into an integrated financial ecosystem. The combination of complementary capabilities differentiated distribution channels, and a broad client base allow us to strengthen engagement, accelerate product adoption through cross-selling, and deepen integration across businesses. We will continue to broaden access to financial products and services to advance financial inclusion, with the ambition of incorporating 8 million people into the financial system by 2028.

3. Unlocking Synergies by Leveraging Shared Capabilities Across the Ecosystem
Shared capabilities in technology, data, analytics, artificial intelligence, and risk management constitute a competitive advantage to accelerate value creation at scale. These capabilities strengthen decision-making, enable more personalized customer experiences, generate productivity gains and accelerate innovation, supporting further monetization across the ecosystem.

4. Delivering Strong, Resilient Returns Across Economic Cycles
With decades of disciplined execution, Credicorp has demonstrated its capacity to generate value across economic cycles. The combination of market knowledge and leadership, business diversification, and ecosystem-based competitive advantages strengthen our resilience and supports a sustainable trajectory of profitable growth and long-term value creation.

Main KPIs in Credicorp’s Strategy
Core Businesses Transformation (1) QuarterUp to
3Q252Q263Q26Sep 25Sep 26
Credicorp
Innovation Portfolio Risk-Adjusted Revenue Share (2)7.4%9.9%10.7%6.3%9.9%
Total loan disbursements for MSMEs (S/ million)11,8129,41914,68223,47128,692
Disbursements of sustainable financings (USD million)2,1301,8612,6024,0775,197
BCP Stand-alone
Active lending clients (millions) (3)2.84.14.32.84.3
Consumer NPSn.a.5552n.a.52
Cashless transactions (4)65%69%68%65%68%
Mibanco
Share of Low-Cost Deposits / Total Funding (5)6.0%6.3%6.2%6.0%6.2%
Share of Other Income / Total Risk-Adjusted Revenue6.8%8.2%8.7%6.8%8.1%
Pacifico
Insured Clients (millions) (6)n.a.7.37.4n.a.7.4
Digital Policies (thousands) (7)5825755761,8841,884
(1)Management figures, may differ from previously reported. Figures for September 2025, June 2026, and September 2026.
(2)As a percentage of Credicorpʼs total Risk-Adjusted Revenue.
(3)Consumer clients with an outstanding loan. Source: SBS.
(4)Amount transacted through Mobile Banking, Internet Banking, Yape y POS/Total amount transacted through Retail Banking.
(5)Includes low-cost funding products (Ahorro Negocio, Ahorro, Cuenta Premio, and Demand Deposits) as a proportion of total funding
(6)Includes natural and legal clients. New methodological adjustments since 4Q25, related to customers with loan life insurance.
(7)Number of insurance policies issued through digital channels.
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Earnings Release 3Q / 2026
Analysis of 3Q26 Consolidated Results
Credicorp’s Strategy Update
Innovation Portfolio
Credicorp’s innovation portfolio complements and expands the Group’s core businesses through scalable digital platforms and a disciplined investment strategy to create value. This portfolio diversifies revenue streams; broadens our value proposition; and establishes new avenues for growth by leveraging the ecosystem’s capacities and competitive advantages.

The portfolio invests in verticals with high potential for growth, including Neobanking, Services for SME-Pymes, Acquiring, InsurTech, WealthTech and Health, where we drive initiatives in different stages of maturity. The Innovation Committees governs the portfolio through a formal process to evaluate and prioritize initiatives with differentiated value propositions. These initiatives seek to generate relevant changes in the business model and/or present significant potential to generate exponential growth. This framework allows us to allot capital dynamically; conduct follow-up with defined milestones; and re-allot resources to opportunities with higher potential to create value. The initiatives advance through five stages of development: origination, incubation, product-market fit, acceleration and scaling. Once operating maturity is achieved, initiatives can graduate and integrate in the Group’s core businesses.
Initiatives can incubate within core businesses or be channeled through Krealo, our Corporate Venture Capital arm, which establishes outside-in innovation through strategic investments and acquisitions that strengthen and expand current and future lines of business. The portfolio is managed with explicit financial appetites, which consider an impact on ROE of 150 bps and 350 bps on the efficiency ratio. Additionally, in 3Q26, we reached our ambition of representing 10% of the Group’s risk-adjusted income.
Neobanking
Within the innovation portfolio, we created a Neobanking unit that integrates Yape, Yape Bolivia, Tenpo and iO under a common operating model. The value hypothesis behind this unit entails accelerating efforts to build a more integrated digital system by capturing shared capacities, products and data to capture efficiencies; develop synergies; and scale the value proposition over time in the most disciplined manner possible. Neobanking brings together scalable digital platforms with high potential for financial inclusion, monetization and regional expansion, which strengthens the Group’s long-term growth thesis.
1. Yape: scaling profitability with a larger contribution from loans and the ecosystem
Main Management Indicators
Management KPI's (1)QuarterChange %Up toChange %
3Q252Q263Q26QoQYoYSep 25Sep 26Sep 26 / Sep 25
Users
Users (millions)18.719.820.00.9%6.7%18.720.06.7%
Monthly Active Users (MAU) (millions) (2)15.516.717.02.1%9.8%15.517.09.8%
Revenue Generating MAU (millions) 13.214.614.91.9%12.8%13.214.912.8%
Engagement
# Transactions (millions)2,6403,3813,5685.5%35.1%7,0509,95541.2%
# Revenue Generating Transactions (millions)2833643958.3%39.2%7691,09642.5%
# Transactions / MAU5869713.6%21.4%587121.4%
# Average Functionalities / MAU2.72.92.9—%7.4%2.72.97.4%
Experience
NPS (3)767877-1 p1 p76771 p
Unit Economics
Monthly Indicators (4)
Revenues / MAU (S/)7.411.111.97.0%60.6%7.411.960.6%
Expenses / MAU (S/)-5.0-6.0-6.11.5%20.9%-5.0-6.120.9%
Quarterly Indicators (5)
Revenues / MAU (S/)7.410.712.011.8%61.5%6.510.867.0%
Expenses / MAU (S/)-4.8-5.9-6.03.1%26.1%-4.5-5.827.8%
Drivers Monetization
Total TPV (S/, billions) (6)113.9139.7148.56.3%30.4%308.8418.035.3%
Total Revenue Generating TPV (S/, billions) (6)12.818.118.20.5%42.0%33.152.859.5%
Payments
# Bill Payments transactions (millions) 5672788.3%39.1%15121743.7%
Financials
# Loans Disbursements (thousands) 4,1966,3766,6824.8%59.3%11,15118,79268.5%
E-Commerce
GMV (S/, millions) (7)174.1167.2173.23.6%-0.5%426.1516.121.1%
(1)Management Figures.
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Earnings Release 3Q / 2026
Analysis of 3Q26 Consolidated Results
Credicorp’s Strategy Update
(2)Yape users that have made at least one outgoing transaction in the measurement month.
(3)Net Promoter Score.
(4)Monthly indicators consider the results of the last month of the quarter for the numerator and denominator.
(5)Quarterly indicators are calculated using the sum of the three months in the period for numerator accounts, and the average of the denominator—based on last month’s data from both the current and previous quarters.
(6)Total Payment Volume.
(7)Gross Merchant Volume, includes the following functionalities: Yape Promos, Yape Store, Ticketing, Gaming, Delivery, Buses, Gas, Brand Solutions and Insurance.
Main Financial Results
Financial Metrics (1)
S/ millions		QuarterChange %Up toChange %
Sep 25Jun 26Sep 26QoQYoYSep 25Sep 26Sep 26 / Sep 25
Loans (quarter-end balances)584.51,817.02,313.027.3%295.7%584.52,313.0295.7%
Risk-Adjusted Net Interest Income (2)146.4276.1323.017.0%120.6%363.3835.0129.8%
Other Income (3)195.2256.9282.710.1%44.9%495.8775.056.3%
Total Risk-Adjusted Revenues341.6533.0605.713.6%77.3%859.11,610.087.4%
Total Operating Expenses-220.1-290.9-306.45.3%39.2%-596.9-862.144.4%
(1)Management figures.
(2)Includes interest income, interest expense and net provisions.
(3)Includes Other Income recorded in BCP and in Yape Market.

Scale and engagement strengthen Yape’s relevance in the day-to-day
Yape has consolidated its role as a platform for daily use with 17.0 million MAU at the end of 3Q26. Growth is increasingly fueled by deeper relations with users: transactions increased 35.1% YoY, outpacing the pace of growth of MAU (+9.8% YoY) by three-fold with solid feature adoption and satisfaction levels.

This recurrence is the base of this model: each interaction generates data on users’ habits and needs, which improves knowledge of the client and risk assessment while broadening financial product offerings. The opportunity remains significant: revenue-generating transactions per MAU increased to 7.7 (vs 6.2 in 3Q25), while credit penetration (MAUs with an active loan) continued to expand, reaching 18.7% (vs 9.9% in 3Q25).

Growing monetization and operating leverage
In 3Q26, monetization continues to strengthen, where growth in revenues (77.3% YoY) outpaced the increase reported for expenses (39.2% YoY), elevating operating leverage. The uptick in transactionality and in the contribution of loans lifted monthly revenue per MAU to nearly twice the level of monthly expenses per MAU (stable at ~S/6 over the past four quarters), while the proportion of revenue generating MAUs increased to 88% (vs 85% in 3Q25). This evolution strengthened our capacity to transform scale and recurrence into profitability, leading us to post a contribution of 9.8% to Credicorp’s risk-adjusted revenues (vs 6.4% in 3Q25).
chart-8afb58588d8b4e6e9fc.jpg

Payments are the key driver of activation and client knowledge
In 3Q26, the Payments business represented 44% of Yape’s revenues. Growth was driven mainly by Bill, QR/POS and Checkout Payments, while emerging use cases such as remittances continued to gain traction and delivered strong growth. In Bill Payments, the number of transactions rose 39.1%, driven by higher average ticket sizes and stronger adoption across specific categories, such as education. In QR/POS and Checkout Payments, the transactions level increased on the back of seasonal factors and sports events.



6.4%
7.2%
8.0%
8.9%
9.8%
chart-4633897ae8c246e6872.jpg
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Earnings Release 3Q / 2026
Analysis of 3Q26 Consolidated Results
Credicorp’s Strategy Update
Interoperability continues to expand use cases and facilitate the shift from cash to digital payments. Going forward, this dynamic will be complemented by TAPP, which is expected to be implemented starting in 2027, further expanding opportunities for Yape within the payments ecosystem. In this context, Yape will seek to leverage the depth of its user relationships, the quality of its experience, and the frequency of user engagement.

Loans accelerate financial inclusion with a scalable digital proposition
In 3Q26, the financial business, comprising of Floating and Lending, represented 53% of Yape’s total revenues. Within this business, Lending continued to lead growth and accounted for 31% of Yape’s revenues at quarter-end (vs 20% in 3Q25).
As of 3Q26, the loan portfolio reached nearly four times the balance recorded in 3Q25, while the cumulative number of borrowers who have received at least one loan reached 6.3 million (vs. 3.5 million in 3Q25). Portfolio growth was concentrated in Multicuota and SME loans, which together account for nearly ~80% of the portfolio. This evolution reflects the growing share of larger-ticket and longer-tenure loans, while Single-installment loans continues to serve as an entry product that enables Yape to assess customers’ repayment behavior and progressively deepen the lending relationship.



chart-c5c6a9aeafa84f069ee.jpg

Average tickets and loan terms are: (i) Mono: ~S/230 and 1 month; (ii) Multi: ~S/900 and 10 months; and (iii) SME-Pyme: ~S/3,100 and 10 months.

Growing contribution and strategic relevance for Credicorp
Yape continued to contribute value to Credicorp’s ecosystem by leveraging its scale, recurrence of use and client knowledge. Through its transversal distribution platform, Yape has strengthened cross-selling capacities; extended the Group’s reach to new segments; and accelerated adoption of financial products and services. This advance has consolidated Yape’s role as one of the main drivers of long-term growth, supported by its capacity to scale product distribution and services within the ecosystem.

2. Yape Bolivia: leader in QR transactions in the Financial System

Main management indicators
Management KPI's (1)QuarterChange %Up toChange %
3Q252Q263Q26QoQYoYSep 25Sep 26Sep 26 / Sep 25
Users
Users (millions)3.54.54.87.1%36.5%3.54.836.5%
Monthly Active Users (MAU) (millions) (2)1.72.32.58.8%43.5%1.72.543.5%
Engagement
# Transactions (millions)197.9337.7399.018.2%101.6%482.61,009.4109.2%
# Transactions / MAU39.650.354.17.6%36.6%35.749.538.5%
Experience
NPS (3)596761-6 p1 p59611 p
(1) Management figures.
(2) Yape users that have made at least one outgoing transaction in the measurement month.
(3) Net Promoter Score

Yape Bolivia represents one of the first tests of Yape’s regional scalability. It leverages BCP Bolivia’s capacities to modernize daily payments and expand financial inclusion in a market with significant opportunities for digitalization. As of 3Q26, Yape reached 4.8 million users, representing approximately 67% of Bolivia’s economically active population (EAP), with MAUs accounting for 52% of total users (vs. 49% in 3Q25). Yape Bolivia led the QR transactions market with a share of 26.5% (vs 24.7% in 3Q25). These results, which indicate accelerated adoption, consolidate Yape’s role as a relevant actor in the digital payments markets and are proof that the model can be replicated in markets with high levels of informality and intensive use of cash.
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Earnings Release 3Q / 2026
Analysis of 3Q26 Consolidated Results
01 Loan Portfolio
Executive Summary
•Total loans expanded 4.2% QoQ and 14.8% YoY. If we exclude the exchange rate effect, total loans increased 4.0% QoQ and 15.2% YoY.
•QoQ, loan growth was driven primarily by (i) an increase in Consumer and SME-Pyme loans at BCP, which was in line with commercial strategies; (ii) an uptick in loans in Wholesale Banking, mainly for short-term loans; and (iii) loan expansion at Mibanco, where the disbursed amount hit a record high in September.
•YoY, total loans increased 15.2% with a neutral exchange rate, fueled primarily by: (i) growth in most segments of Retail Banking at BCP, which was led by Consumer and SME-Pyme; (ii) expansion in wholesale at BCP for both short and long-term loans and; (iii) solid growth at Mibanco thanks to good commercial performance, which was anchored in disciplined strategies for pricing and risk management.

Loan Evolution in Quarter-end balances
This quarter, total loans in quarter-end balances increased 4.2% and 14.8%, QoQ and YoY respectively. If we exclude the exchange rate effect, loans in quarter-end balances rose 4.0% QoQ and 15.2% YoY.

Total Loans
As of
% ChangeUSD/PEN Neutral
Volume Change		USD/PEN Neutral
% Change
(S/ millions)Sep 25Jun 26Sep 26QoQYoYQoQYoYQoQYoY
BCP Stand-alone123,089134,207141,0445.1%14.6%6,52718,4544.9%15.0%
Mibanco13,09614,69815,5445.8%18.7%8462,4485.8%18.7%
Mibanco Colombia2,1582,9513,34013.2%54.7%3661,21712.4%56.4%
BCP Bolivia5,5056,5845,368-18.5%-2.5%-1,252-80-19.0%-1.4%
ASB Bank Corp.1,4221,4281,60712.5%13.0%16820211.7%14.2%
Others(1)-519-434-74271.0%43.0%-311-21871.7%42.1%
Total Loans144,752159,434166,1614.2%14.8%6,34422,0244.0%15.2%
For consolidation purposes. Loans generated in Foreign Currency (FC) are converted into Local Currency (LC).
(1)Includes eliminations for intercompany transactions.


QoQ, the upward trajectory of loans with a neutral exchange rate was spurred mainly by the evolution at BCP Stand-alone (+4.9%), and to a lesser extent at Mibanco (+5.8%) and Mibanco Colombia (+12.4%); the combined impact of these prints was partially offset by a decline in the quarter-end balance at BCP Bolivia (-19.0%). At Mibanco, the disbursed amount hit a record high in September. At Mibanco Colombia, loan growth remained solid, where disbursement rates ticked up and we remained focused on maintaining healthy levels of risk.

YoY, the evolution of loans with a neutral exchange rate was driven mainly by the prints at BCP Stand-alone (+15.0%), followed by Mibanco (+18.7%) and Mibanco Colombia (+56.4%); loans at BCP Bolivia, in contrast, contracted (-1.4%). At Mibanco, the evolution reflected strong commercial performance and was fueled by a strategy to grow in small tickets by leveraging pricing and risk management. At Mibanco Colombia, the upward trajectory of loans was driven by the same factors that drove the QoQ print.

Next, we will analyze the dynamics by segment at BCP Stand-alone:





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Earnings Release 3Q / 2026
Analysis of 3Q26 Consolidated Results
01. Loan Portfolio
QoQ: Total Loans by Segment at BCP Stand-Alone (in Quarter-end Balances)
Total LoansAs ofQoQ ChangeBalance in USD/PEN Neutral
As of
QoQ Change
in USD/PEN Neutral
(S/ millions)Jun 26Sep 26Volume%Jun 26Sep 26Volume%
BCP Stand-alone134,207141,0446,8385.1%134,207140,7346,5274.9%
Wholesale Banking58,14859,3721,2242.1%58,14859,1409921.7%
   Corporate33,54534,4168722.6%33,54534,2807352.2%
   Middle - Market24,60324,9563531.4%24,60324,8602571.0%
Retail Banking74,08178,3544,2725.8%74,08178,2944,2135.7%
   SME - Business7,4407,8213825.1%7,4407,7983584.8%
   SME - Pyme18,24419,3611,1186.1%18,24419,3601,1176.1%
   Mortgage24,99825,7667683.1%24,99825,7557583.0%
   Consumer16,54318,3101,76710.7%16,54318,2931,75010.6%
   Credit Card6,8577,0952373.5%6,8577,0872303.4%
Others(1)
1,9783,3181,34167.8%1,9783,3011,32366.9%
For consolidation purposes. Loans generated in Foreign Currency (FC) are converted into Local Currency (LC).
____Larger contraction in volume
(1)Includes other assets and accruals.
____Larger expansion in volume
QoQ, total loans in quarter-end balances at BCP Stand-alone rose 4.9% with a Neutral exchange rate. This growth was led mainly by Retail Banking (+5.7%), followed by Wholesale Banking (+1.7%). In Retail Banking, the uptick was driven by Individuals and SME-Pyme, with noteworthy contributions from:

•Consumer, which registered significant growth in personal loans in 3Q26 after a commercial strategy effectively targeted segments with potential growth
•SME-Pyme, which reported an increase in disbursements of working capital loans, mainly through pilot programs and Yape loans for small businesses.

In Wholesale Banking, loan expansion was fueled primarily by Corporate Banking (+2.2%) and to a lesser extent by Middle Market Banking (+1.0%), where growth was driven mainly by an uptick in short-term loans. Medium and long-term loans also contributed to Wholesale Banking, albeit to a lesser extent, due to a favorable macroeconomic environment.


YoY: Total Loans by Segment at BCP Stand-Alone (in Quarter-end balances)
Total Loans
As of
YoY ChangeBalance in USD/PEN Neutral
As of
YoY Change
in USD/PEN Neutral
(S/ millions)Sep 25Sep 26Volume%Sep 25Sep 26Volume%
BCP Stand-alone123,089141,04417,95514.6%123,089141,54418,45415.0%
Wholesale Banking53,34059,3726,03211.3%53,34059,7476,40712.0%
   Corporate31,48534,4162,9329.3%31,48534,6373,15210.0%
   Middle - Market21,85524,9563,10114.2%21,85525,1113,25514.9%
Retail Banking67,95878,35410,39515.3%67,95878,44910,49115.4%
   SME - Business8,0977,821-275-3.4%8,0977,859-238-2.9%
   SME - Pyme16,44719,3612,91517.7%16,44719,3632,91617.7%
   Mortgage23,37725,7662,38910.2%23,37725,7842,40610.3%
   Consumer13,78118,3104,52932.9%13,78118,3374,55633.1%
   Credit Card6,2577,09583813.4%6,2577,10785013.6%
Others(1)1,7913,3181,52785.3%1,7913,3471,55686.9%
For consolidation purposes. Loans generated in Foreign Currency (FC) are converted into Local Currency (LC).
____Larger contraction in volume
(1)Includes other assets and accruals.
____Larger expansion in volume




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Earnings Release 3Q / 2026
Analysis of 3Q26 Consolidated Results
01. Loan Portfolio
YoY, total loans in quarter-end balances at BCP Stand-alone increased 15.0% with a Neutral exchange rate. This growth was driven mainly by Retail Banking (+15.4%), followed by Wholesale Banking (+12.0%). In Retail Banking, most segments reported expansion. Consumer (+33.1%) and SME-Pyme (+17.7%) led growth, which was fueled by the same factors in play QoQ and by an uptick in economic activity. The increase registered in Mortgage (+10.3%) was primarily attributable to operating improvements, which reduced origination times, and secondarily to a rebound in the underlying demand for this product.
In Wholesale Banking, growth was fueled mainly by Middle Market Banking (+14.9%) and Corporate Banking (+10.0%). Both the Middle Market and Corporate segments have benefited from stronger economic activity.

YoY evolution of Loan Dollarization (in Quarter-end balances)
FC Total Portfolio Participation
-Credicorp: 34.4% in Sep 26 and 34.2% in Sep 25
-BCP Stand-alone: 32.8% in Sep 26 and 32.8% in Sep 25

35.7%4.7%11.7%15.5%11.0%4.3%9.4%84.9%
of total loansof total loansof total loansof total loansof total loansof total loansof total loansof total loans
chart-ed029f31feff4d9dad0.jpg
Sep 25Sep 26Sep 25Sep 26Sep 25Sep 26Sep 25Sep 26Sep 25Sep 26Sep 25Sep 26Sep 25Sep 26Sep 25Sep 26Sep 25Sep 26
BCP
Wholesale Banking		BCP
SME-Business		BCP
SME-Pyme		BCP
Mortgage		BCP
Consumer		BCP
Credit Cards		MibancoBCP
Stand-alone		Credicorp (1)
____LC____FC

(1)Participation in FC loans at the Credicorp level considers BCP Stand-alone, Mibanco, Mibanco Colombia, BCP Bolivia and ASB

YoY, the dollarization level of total loans rose 15 bps. This evolution was propelled by growth in FC loans (+15.3%), mainly in Wholesale Banking, and was offset by growth in LC loans (+14.5%), which was fueled primarily by the SME-Pyme and Consumer segments.

Loan Evolution in Average Daily Balances

Total loans in average daily balances (ADB) rose 1.7% and 9.4%, QoQ and YoY, respectively. It is important to note that the figures for loans are derived from internal management balances.

For more details on loan dynamics in ADB, see Annex 12.1.
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Earnings Release 3Q / 2026
Analysis of 3Q26 Consolidated Results

02
Deposits
Executive Summary
•Total deposits slightly declined QoQ and increased 14.3% YoY.
•QoQ, the decline was mainly driven by the normalization of wholesale deposit balances at BCP Stand-alone, which partially shifted toward Time Deposits. Higher Savings Deposits, supported by inflows from the July statutory bonus, also partially offset the decline.
•YoY, growth was spurred by an increase in Savings Deposits and Demand Deposits, which was driven by fund inflows from pension withdrawals.
•Growth over both periods was attributable to our ongoing efforts to strengthen our transactional offerings. It is also important to mention that at the end of 3Q26, 73.19% of Total deposits were Low-Cost (Demand + Savings).


DepositsAs ofChange (%)USD/PEN Neutral
% Change
S/ 000Sep 25Jun 26Sep 26QoQYoYQoQYoY
Demand deposits50,930,17364,854,35160,663,873-6.5%19.1%-6.8%19.8%
Saving deposits60,580,84070,661,92271,832,2091.7%18.6%1.4%19.0%
Time deposits43,115,98742,306,88644,573,3975.4%3.4%5.1%3.9%
Severance indemnity deposits2,956,4463,415,3873,112,570-8.9%5.3%-9.0%5.5%
Interest payable 847,009882,220836,808-5.1%-1.2%-5.6%-0.5%
Low-cost deposits (1)111,511,013135,516,273132,496,082-2.2%18.8%-2.5%19.4%
Total Deposits158,430,455182,120,766181,018,857-0.6%14.3%-0.9%14.8%
(1)Includes Demand Deposits and Saving Deposits
QoQ, our balance for Total Deposits fell 0.6%. This result was mainly fueled by:
•A 6.5% reduction in the balance for Demand Deposits. This evolution was mainly driven by a drop in FC volumes at BCP Stand-alone, which was triggered mainly by the normalization of wholesale deposit balances at BCP Stand-alone, which partially shifted toward Time Deposits.

The drop in Demand Deposits was partially offset by:

•Time Deposits, which were up 5.4%. This evolution was driven mainly by an uptick in captures of wholesale clients in the LC portfolio at BCP Stand-alone, which was in line with our funding strategy, and secondarily by fund migration from Demand Deposits, as previously explained.

•Savings deposits, which rose 1.7% on the back of growth in LC balances in Individuals after statutory bonuses were paid in July. This uptick attests to the strength of our transactional offering, which has allowed us to continue capturing deposits in a high-liquidity environment.

YoY, our balance for Total Deposits rose 14.3%. This evolution was fueled mainly by:

•Growth of 18.6% in Savings Deposits and 19.1% in Demand Deposits. The uptick in these Low-cost Deposits was fueled by an increase in LC volumes at BCP Stand-alone, which continued to capture surplus liquidity from the 8th pension fund withdrawal that began in November 2025.

Growth in Low-cost Deposits was thanks to our sustained efforts to strengthen our differentiated transactional offering. These initiatives are supported by investments in digital infrastructure and stronger client relations, both of which have helped us capture deposits in a high-liquidity environment. At the end of September 2026, Low-Cost Deposits represented 73.2% of total deposits, up 281 bps YoY.
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Earnings Release 3Q / 2026
Analysis of 3Q26 Consolidated Results
02. Deposits

Deposit Dollarization Level
chart-b21d3c51bfe74e10bc3.jpg

At the end of September 2026, the dollarization level of Total Deposits dropped 145 bps QoQ to stand at 42.9%, which is still below the average for the last 4 years (47.6%). This decline was mainly driven by higher Savings Deposits, supported by increased liquidity from July bonus payments, as well as lower FC Demand Deposits from wholesale clients, partially offset by an increase in FC Time Deposits.
YoY, the dollarization level declined 178 bps. This evolution was fueled mainly by an uptick in liquidity in LC from Individuals, which was associated with inflows from pension fund withdrawals, and LC funds from SMEs, supported by higher business activity.
chart-790bb79d43064063a2d.jpg
Sep 25Jun 26Sep 26Sep 25Jun 26Sep 26Sep 25Jun 26Sep 26Sep 25Jun 26Sep 26
DemandSavingsTimeSeverance Indemnity
____
LC
____
FC
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Earnings Release 3Q / 2026
Analysis of 3Q26 Consolidated Results
02. Deposits
Loan / Deposit Ratio (L/D ratio)
chart-fda0528971c14d9c9ef.jpg
QoQ, the L/D ratio rose 438 bps at BCP Stand-alone, driven by growth in Retail loans, which rose on the back of better prints in both Consumer and SME-Pyme. At Mibanco, the ratio increased 209 bps as loan growth continued to gain traction. This growth was partially offset by an increase in Savings Deposits, which was driven by our efforts to capture higher balances in a context of ample liquidity.

YoY, the L/D ratio fell 143 bps at BCP Stand-alone. This evolution was mainly fueled by growth in Low-cost deposits, which rose on the back of an increase in wholesale and retail deposit captures in a high liquidity environment. At Mibanco the ratio increased 1,035 bps, after loans expanded through the same factors that spurred growth QoQ. The positive evolution of loans was partially offset by an increase in Savings Deposits, which was also triggered by the same factors that drove the uptick seen QoQ.
In this context, the L/D ratio at Credicorp stood at 91.8%.

L/D Ratio Local Currency
chart-f6df68fe3c484941bc3.jpg
 L/D Ratio Foreign Currency
chart-6876f30b8e484598bd6.jpg    

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Earnings Release 3Q / 2026
Analysis of 3Q26 Consolidated Results
03
Interest-Earning Assets (IEA) and Funding
Executive Summary
•QoQ, IEA remained relatively stable (+0.4%) after expansion in the loan balances at BCP (in both Retail and Wholesale) and Mibanco outstripped the drop registered in the balance for Cash and Due to Banks. Funding fell (-1.6%), driven mainly by a subordinated bond scheduled call at BCP and, to a lesser extent, by a reduction in the balance of BCRP instruments.
•YoY, IEA rose 10.8%, fueled primarily by loan growth in Retail and Wholesale Banking at BCP. The uptick in total investments, which was part of a strategy to capitalize on surplus liquidity, was a secondary driver of growth in IEA. On the Funding side, (+ 11.2% YoY), growth in deposits was the primary driver of expansion and was partially offset by a drop in the balance for BCRP instruments.

3.1.    IEA
Interest Earning AssetsAs of% Change
S/000Sep 25Jun 26Sep 26QoQYoY
Cash and due from banks35,862,18440,553,15333,981,593-16.2%-5.2%
Total investments51,186,57958,430,06358,604,2810.3%14.5%
Cash collateral, reverse repurchase agreements and securities borrowing3,404,6391,185,9711,888,94059.3%-44.5%
Total loans144,752,254159,434,397166,161,0424.2%14.8%
Total interest earning assets235,205,656259,603,584260,635,8560.4%10.8%
QoQ, IEA rose 0.4%. This evolution was fueled mainly by growth in the balance for Total Loans, which increased 4.2% on the back of the dynamics explained in Chapter 1. Loan Portfolio. The increase in the balance for Cash collateral, reverse repurchase agreements and securities borrowing was a secondary driver of IEA expansion over the period. These dynamics were partially offset by a reduction in the balance for Cash and due to banks, which was impacted by movements by Corporate clients at BCP.

YoY, IEA rose 10.8%, spurred primarily by growth in Loans, which was led by BCP Stand-alone (both Retail Banking and Wholesale Banking) and by Mibanco. The uptick in the balance for Total Investments also contributed to IEA expansion, albeit to a lesser extent, under a strategy to capitalize on surplus liquidity. These dynamics were partially offset by a drop in the balances for Cash and due from banks and Cash collateral, reverse repurchase agreements and securities borrowing.

3.2.    Funding
FundingAs of% Change
S/000Sep 25Jun 26Sep 26QoQYoY
Deposits and obligations158,430,455182,120,766181,018,857-0.6%14.3%
Due to banks and correspondents11,241,07911,755,25611,260,498-4.2%0.2%
BCRP instruments6,643,8924,043,9863,204,454-20.8%-51.8%
Repurchase agreements with clients and third parties3,537,2814,332,5004,877,23312.6%37.9%
Bonds and notes issued12,209,72414,789,01513,273,001-10.3%8.7%
Total funding192,062,431217,041,523213,634,043-1.6%11.2%
QoQ, Funding dropped -1.6%. This evolution was fueled primarily by a reduction in the balance for Bonds and notes issued, which reflected the scheduled call of a subordinated bond at BCP. The balance for Deposits and obligations remained relatively stable over the period, where the decrease in Low-cost deposits was offset by an increase in Time Deposits.

YoY, Funding rose 11.2%, spurred mainly by growth in the balance for Deposits and obligations, which rose on the back of an uptick in low-cost deposits (through inflows from pension fund withdrawals and greater dynamism in the economy). The increase in the deposit and obligations line was partially offset by a reduction in the balance for BCRP instruments.
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Earnings Release 3Q / 2026
Analysis of 3Q26 Consolidated Results
04
Net Interest Income (NII)
Executive Summary
•NII increased +6.0% QoQ. This evolution, which was driven mainly by an uptick in interest on loans, accompanied loan growth in Retail Banking at BCP and Mibanco and was partially offset by growth in interest on deposits and interest on due to banks and correspondents.
•YoY, NII rose 17.7%, propelled by a rise in Interest and Similar income, which ticked up through an increase in the loan volume. The rise in Interest and Similar income was partially offset by an increase in Interest and Similar Expenses.
•NIM expanded 36 bps YoY to stand at 6.93%. This growth was driven mainly by an increase in the IEA yield and a drop in the funding cost. Risk-adjusted NIM stood at 5.66% (+13 bps YoY), as margin expansion more than offset the higher cost of risk.


Net Interest Income / MarginQuarter% ChangeUp to% Change
S/0003Q252Q263Q26QoQYoYSep 25Sep 26Sep 26 / Sep 25
Interest and Similar Income4,987,6935,413,8855,717,6875.6%14.6%14,804,77516,343,98410.4%
Interest and Similar Expenses(1,299,864)(1,316,934)(1,376,563)4.5%5.9%3,929,5633,943,1820.3%
Interest Expense (excluding Net Insurance Financial Expenses)(1,158,420)(1,147,859)(1,208,903)5.3%4.4%(3,513,442)(3,443,529)-2.0%
Net Insurance Financial Expenses(141,444)(169,075)(167,660)-0.8%18.5%(416,121)(499,653)20.1%
Net Interest, similar income and expenses3,687,8294,096,9514,341,1246.0%17.7%10,875,21212,400,80214.0%
Balances
Average Interest Earning Assets (IEA)233,285,291257,562,678260,119,7201.0%11.5%237,958,451253,498,8856.5%
Average Funding 190,658,187213,379,275215,337,7830.9%12.9%195,494,018208,490,1186.6%
Yields
Yield on IEAs8.55%8.41%8.79%38 bps24 bps8.30%8.60%30 bps
Cost of Funds(1)2.43%2.15%2.25%10 bps-18 bps2.40%2.20%-20 bps
Net Interest Margin (NIM)(1)6.57%6.63%6.93%30 bps36 bps6.33%6.79%46 bps
Risk-Adjusted Net Interest Margin(1)5.53%5.49%5.66%17 bps13 bps5.34%5.71%37 bps
Peru's Reference Rate4.25%4.25%4.25%0 bps0 bps4.25%4.25%0 bps
FED funds rate4.25%3.75%4.00%25 bps-25 bps4.25%4.00%-25 bps
(1)For further details on the NIM and Cost of Funds calculation, please refer to Annex 12.8.
QoQ, Net Interest Income (NII) rose 6.0%. This result was driven mainly by growth in Interest and Similar income as Interest on loans ticked up alongside growth in volumes in Retail banking at BCP and at Mibanco. The improvement in Interest and similar income was partially offset by growth in Interest and similar expenses. The aforementioned increase was driven by an uptick in funding costs, which rose alongside an increase in time deposits.

YoY, NII increased 17.7%. This evolution was driven mainly by growth in Interest and Similar Income, which was fueled by the uptick in interest on loans that accompanied a rise in loans volumes at BCP and Mibanco. Interest and similar expenses were up this quarter, which partially offset the increase in Interest and similar income. Growth in the former was due primarily to an uptick in interest expenses, related to an increase in time deposits and secondarily, by higher expenses for interest on bonds and subordinated debt.

YTD, NII rose 14.0%. This result was fueled by an increase in Interest and Similar Income, which was driven by the same dynamics that drove the YoY evolution. Meanwhile, Interest and Similar Expenses remained relatively stable, as the decline in Interest on due to banks and correspondents was offset by higher Net Insurance Financial Expenses.





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Earnings Release 3Q / 2026
Analysis of 3Q26 Consolidated Results
04. Net Interest Income (NII)
Net Interest Margin
NIM rose (+36 bps YoY) to stand at 6.93% at the end of 3Q26. This expansion was driven mainly by growth in the IEA yield (+24 bps YoY), which increased on the back of an uptick in loans’ share of the IEA mix. The funding cost, which dropped (-18 bps YoY) this quarter due to a rise in low-cost deposits’ share of the mix, also contributed to NIM’s evolution. Risk-adjusted NIM, in turn, stood at 5.66% at the end of 3Q26 (+13 bps YoY), as margin expansion more than offset the higher cost of risk.
chart-aa30e2b2c58f4b33a39.jpg
Dynamics of the Net Interest Margin by Currency
Interest Income / IEA
3Q252Q263Q26
S/ millions
Average BalanceIncomeYieldsAverage BalanceIncomeYieldsAverage BalanceIncomeYields
Total (LC + FC)
Cash and equivalents
35,0343163.6%41,7673213.1%37,2672712.9%
Other IEA
3,999686.8%1,698235.4%1,537236.0%
Investments
51,3966435.0%57,9686994.8%58,5177585.2%
Loans
142,8573,96111.1%156,1294,37111.2%162,7984,66511.5%
Total IEA
233,2864,9888.6%257,5625,4148.4%260,1195,7178.8%
IEA (LC)
56.7%71.4%10.8%56.5%72.3%10.8%57.7%73.1%11.1%
IEA (FC)
43.3%28.6%5.7%43.5%27.7%5.3%42.3%26.9%5.6%
Interest Expense / Funding3Q252Q263Q26
S/ millionsAverage BalanceExpenseYieldsAverage BalanceExpenseYieldsAverage BalanceExpenseYields
Total (LC + FC)
Deposits156,5775651.4%180,5005661.3%181,5706011.3%
BCRP + Due to Banks17,0672535.9%14,1752246.3%15,1322326.1%
Bonds and Notes12,1611655.4%14,7701955.3%14,0311935.5%
Others4,85331726.1%3,93333233.8%4,60534930.3%
Total Funding190,6581,3002.7%213,3781,3172.5%215,3381,3752.6%
Funding (LC)52.6%52.8%2.7%53.4%52.5%2.4%53.8%52.1%2.5%
Funding (FC)47.4%47.2%2.7%46.6%47.5%2.5%46.2%47.9%2.6%
NIM(1)233,2863,6886.3%257,5624,0976.4%260,1194,3426.7%
NIM (LC)56.7%77.9%8.7%56.5%78.7%8.9%57.7%79.7%9.2%
NIM (FC)43.3%22.1%3.2%43.5%21.3%3.1%42.3%20.3%3.2%
(1)Unlike the NIM figure calculated according to the formula in Appendix 12.8, the NIM presented in this table includes “Financial Expense associated with the insurance and reinsurance activity, net”.

QoQ Analysis
QoQ, Net Interest Income (NII) rose 6.0%. This evolution was driven by growth in NII in LC and, to a lesser extent, in FC. IEA in LC represented 57.7% of total IEA at the end of 3Q26 and accounted for 73.1% of interest income generated this quarter.

Dynamics in Local Currency (LC)

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Earnings Release 3Q / 2026
Analysis of 3Q26 Consolidated Results
04. Net Interest Income (NII)
NII in LC increased 7.4% QoQ. This evolution was driven by an uptick in interest income, which was positively impacted by an increase in interest on loans after loan volumes at BCP and Mibanco rose. Interest expenses, in turn, grew due to an increase in expenses for deposits, which rose on the back of growth in time deposits’ share of the funding mix.

Dynamics in Foreign Currency (FC)

NII in FC increased 0.8% QoQ. This print was driven mainly by (i) an increase in interest on Loans, after the loan volume rose, mainly through Wholesale Banking at BCP and (ii) growth in interest on securities. Interest expenses, in turn, rose this quarter, driven mainly by an increase in expenses for deposits, mainly through Wholesale Banking at BCP.

YoY Analysis

YoY, NII increased 17.7%. This evolution was mainly fueled by growth in NII in LC and to a lesser extent, in FC.

Dynamics in Local Currency (LC)

NII in LC rose 20.5% YoY on the back of an increase in interest income, which was partially offset by an uptick in interest expenses. These results were driven by the following dynamics:

The rise in Interest income was mainly fueled by an uptick in interest on Loans, which rose alongside growth in volumes at BCP and Mibanco. Interest on securities, which increased through a strategy to take advantage of market opportunities, also contributed to this dynamic, albeit to a lesser extent. In this scenario, the IEA yield in LC increased 38 bps to stand at 11.1%.

Interest expenses this quarter rose, impacted by an increase in LC time deposits’ share of the funding mix. An uptick in interest on bonds and subordinated debt was a secondary contributor to growth in expenses this quarter. In this context, the cost of funding in LC dropped 27 bps to stand at 2.5%.

Dynamics in Foreign Currency (FC)

NII in FC rose 8.0% YoY due to the following dynamics:

Interest income rose, driven mainly by growth in interest on Loans, which ticked up alongside an increase in loan volumes in Wholesale Banking at BCP. IEA in FC increased 8.9% over the period. In this context, the IEA yield dropped 7 bps to stand at 5.6%.

Interest expenses in FC increased 7.3%, driven by higher expenses for deposits and to a lesser extent, for interest on bonds and subordinated debt. Total Funding in FC increased 10.0% over the period. In this context, the funding cost in FC dropped 7 bps to stand at 2.6%.

YTD Analysis

YTD, NII increased 14.0%, on the back of growth in both LC and FC.

Dynamics in Local Currency (LC)

NII in LC rose 16.1%. This evolution was driven primarily by an uptick in interest income and secondarily, by a drop in interest expenses. The rise in interest income YTD was fueled mainly by an increase in income from Loans, which rose on the back of the same dynamics seen YoY, while the reduction in expenses was driven mainly by a drop in interest expenses for Due to banks and secondarily, by growth in low-cost deposits’ share of the funding mix.

Dynamics in Foreign Currency (FC)

NII in FC increased 6.7%. This print was fueled mainly by growth in interest income, after income from loans rose on the back of an uptick in loan volumes. Expenses were relatively stable given that the uptick in interest on deposits was offset by a drop in interest on Due to banks.
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Earnings Release 3Q / 2026
Analysis of 3Q26 Consolidated Results
05
Portfolio Quality and Provisions
Executive Summary
•As of Sep 26, Credicorp’s NPL ratio improved to 3.9%, down -15 bps QoQ and -91 bps YoY. QoQ, loan growth outpaced higher NPLs in BCP Retail Banking and Mibanco, partly offset by lower NPLs in BCP Wholesale Banking. YoY, the improvement reflected loan growth and lower NPLs, mainly at BCP Stand-alone, supported by improved origination, monitoring and collections.
•Provisions rose 13.3% QoQ and 37.4% YoY, which led the Cost of Risk (CoR) to stand at 2.0%. This quarter included additional provisions for El Niño risk, based on a “Very Strong” event as our base scenario, at quarter-end. QoQ, underlying provisions were relatively stable, as higher provisions in BCP Retail and Mibanco were offset by improved performance in BCP Wholesale. YoY, the increase in underlying provisions was mainly driven by a higher share of retail loans in the portfolio mix, while overall portfolio quality remained healthy.

Portfolio indicators continued to evolve positively and transversally across segments. This evolution was supported by enhancements in risk management, as we leverage data, analytics and more sophisticated tools to bolster origination, monitoring and collections.

5.1    Portfolio Quality
Total Portfolio Quality (in quarter-end balances)
Loan Portfolio quality and Delinquency ratiosAs of% Change
S/000Sep 25Jun 26Sep 26QoQYoY
Total loans (Quarter-end balance)144,752,254159,434,397166,161,0424.2%14.8%
Write-offs713,933535,949595,09311.0%-16.6%
Internal overdue loans (IOLs)4,953,3034,504,1854,543,6210.9%-8.3%
Internal overdue loans over 90-days4,142,0803,657,8153,772,0233.1%-8.9%
Refinanced loans2,016,4421,953,6021,936,937-0.9%-3.9%
Non-performing loans (NPLs)6,969,7456,457,7876,480,5580.4%-7.0%
IOL ratio3.4%2.8%2.7%-10 bps-69 bps
IOL over 90-days ratio2.9%2.3%2.3%-2 bps-59 bps
NPL ratio4.8%4.1%3.9%-15 bps-91 bps
QoQ, NPL balance increased 0.4%, as overdue loan growth was partially offset by a reduction in the refinanced portfolio. Write-offs rose 11.0%, driven mainly by BCP Stand-alone.

QoQ, the slight increase in the NPL portfolio was driven mainly by Retail at BCP Stand-alone and by Mibanco. At BCP, the uptick was fueled primarily by the SME-PYME and Consumer segments, where the higher-yield segments continued to grow within a controlled risk parameter. At Mibanco, the NPL portfolio rose alongside an increase in the loan volume. The aforementioned was partially offset by a reduction in refinancing in Corporate Banking and a drop in NPLs in Middle Market Banking at BCP Stand-alone.

YoY, the NPL portfolio dropped -7.0% on the back of the evolution at BCP Stand-alone. Write-offs fell -16.6%, positively impacted by an improvement in collections.

YoY, the trends remained positive, backed by a sustained reduction in the NPL portfolio. Performance was driven by BCP Stand-alone, primarily through an uptick in payment performance and the solid evolution of recent vintages in Retail and secondarily, thanks to favorable dynamics in Wholesale. The aforementioned was partially offset by an increase in NPL balances at BCP Bolivia, Mibanco Colombia and Mibanco.

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Earnings Release 3Q / 2026
Analysis of 3Q26 Consolidated Results
05. Portfolio Quality and Provisions
NPL Ratio for Total Loans
chart-8763058d7e6d49f2a91.jpg
The NPL Ratio at Credicorp dropped -15 bps QoQ to stand at 3.9%, supported by loan growth and positive asset quality trends across the portfolio.
If we analyze the QoQ evolution of the NPL Ratio by subsidiary, we find:
•BCP Stand-alone: The NPL Ratio dropped -22 bps, supported by loan growth and healthy asset quality. The NPL portfolio increased in Retail Banking, although this increase was partially offset by a reduction in Wholesale Banking.
The slight increase in the NPL portfolio was concentrated in vintages associated with digital pilots in SME-Pyme and Consumer, conducted under our experimentation approach. Early-stage delinquency remains concentrated in specific vintages originated during the first half of the year, which retain higher recovery potential, while continuous monitoring has enabled timely corrective actions. This was partially offset by improvements in Wholesale Banking, mainly reflecting repayments from clients in the Construction and Real Estate sectors.

•Mibanco: loan growth outpaced the increase in NPLs, which led the ratio to stand at 4.8% (-2 bps QoQ). Credit deterioration remained below our initial expectations, supported by better recoveries and improvements in risk models and credit guidelines.

NPL Ratio for Total Loans at BCP (1)
chart-f74d6b038de84044a24.jpg
(1) It corresponds to management information by segment in BCP Stand-Alone.

The NPL Ratio at Credicorp dropped -91 bps YoY, driven by lower NPL balances and loan growth, reflecting healthy portfolio quality trends across the portfolio.
If we analyze the YoY evolution of the NPL Ratio by Subsidiary, we see:
•BCP Stand-alone: The NPL Ratio fell -103 bps, led by Retail Banking, which reported a sustained reduction in the NPL portfolio and loan expansion. The improvement reflects the continued strengthening of risk management capabilities, through adjustments in origination, advanced analytics tools, and targeted actions in response to early signs of deterioration. In SMEs, the NPL balance also declined supported by improvements in the early detection of vulnerable portfolios and judicial recoveries in SME-Pyme.
In Individuals, the reduction in the NPL balance was mainly driven by Mortgages, followed by Consumer Loans and Credit Cards, also supported by improved collections processes, including earlier detection and the assignment of specialized contact channels based on customer profiles. In Wholesale Banking, the evolution reflected the same factors discussed in the QoQ analysis.

•Mibanco: The NPL ratio dropped -88 bps YoY, driven mainly by loan growth. The NPL portfolio, in turn, increased slightly, reflecting sustained improvements in origination and collections management.
•Mibanco Colombia: The NPL ratio decreased -52 bps YoY, due to higher loan volumes. The increase in NPL levels was driven by loan growth and specific impacts from extraordinary climatic and physical events during the quarter.
•BCP Bolivia: The NPL ratio rose 91 bps YoY. This increase in NPLs was mainly driven by the implementation of regulatory measures for loan reprogramming and refinancing, which have temporarily impacted portfolio quality.
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Earnings Release 3Q / 2026
Analysis of 3Q26 Consolidated Results
05. Portfolio Quality and Provisions
5.2    Provisions and Cost of Risk of the Total Portfolio
Loan Portfolio ProvisionsQuarter% Change
Up to
% Change
S/0003Q252Q263Q26QoQYoYSep 25Sep 26Sep 26 / Sep 25
Gross provision for credit losses on loan portfolio(720,445)(854,827)(982,850)15.0%36.4%(2,100,143)(2,449,688)16.6%
Recoveries of written-off loans117,527123,619154,71425.2%31.6%340,173408,25620.0%
Provision for credit losses on loan portfolio, net of  recoveries(602,918)(731,208)(828,136)13.3%37.4%(1,759,970)(2,041,432)16.0%
Cost of risk (1)
1.7%1.9%2.0%16 bps34 bps1.6%1.7%10 bps

The uptick in provision expenses 3Q26 was fueled by both additional El Niño provisions, reflecting our quarter-end risk assessment, as well as loan growth in retail segments, particularly in higher-yield portfolios. As a result, expenses rose 13.3% QoQ and 37.4% YoY. In this scenario, the Cost of Risk (CoR) stood at 2.0%.

QoQ, underlying provisions remained relatively stable. At BCP Stand-alone, provisions increased in Individuals, mainly due to loan growth and higher provisions associated with specific Consumer and Yape pilots, partially offset by lower provisions in Credit Cards and Mortgages. In SMEs, the increase was driven by loan growth and, in particular, by recent SME Working Capital vintages, with greater penetration into higher-risk segments. In line with our experimentation approach, origination criteria were proactively adjusted for certain pilots, while overall portfolio quality remains healthy. These increases were offset by improved risk performance in Wholesale Banking. At Mibanco, provisions increased in line with loan growth.
YoY, underlying provisions increased mainly at BCP Stand-alone and Mibanco. At BCP, the increase was led by SME-Pyme, reflecting loan growth and greater penetration into new segments. Despite this growth, 3Q26 originations showed healthy performance, with risk indicators trending downward. Yape also contributed to the increase, mainly reflecting loan growth and higher provisions associated with the Multicuota and SME-Pyme pilots. At Mibanco, the increase was mainly driven by loan growth.
Cost of Risk by Subsidiary
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QoQ Cost of Risk Evolution
chart-365bc99c4e9042e8b4f.jpg
(1)Others include BCP Bolivia, Mibanco Colombia, ASB and eliminations.
YoY Cost of Risk Evolution*
chart-3273cf9ddff54d919cf.jpg
(1)Others include BCP Bolivia, Mibanco Colombia, ASB and eliminations.
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Earnings Release 3Q / 2026
Analysis of 3Q26 Consolidated Results
05. Portfolio Quality and Provisions

YTD Cost of Risk Evolution
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(1)NPL Coverage Ratio (in Quarter-end balances)
Loan Portfolio Quality and Delinquency RatiosAs of% Change
S/000Sep 25Jun 26Sep 26QoQYoY
Total loans (Quarter-end balance)144,752,254159,434,397166,161,0424.2%14.8%
Allowance for loan losses7,674,0407,575,3137,837,8153.5%2.1%
Non-performing loans (NPLs)6,969,7456,457,7876,480,5580.4%-7.0%
Allowance for loan losses over Total loans5.3%4.8%4.7%-3 bps-58 bps
Coverage ratio of NPLs110.1%117.3%120.9%363 bps1083 bps
Allowance for loan losses
(in S/ millions)
chart-33cc1e682a864fe4a86.jpg
(1)Others include Mibanco Colombia, ASB and eliminations.






QoQ, the allowance for loan losses increased 3.5%, while YoY increased 2.1%, mostly reflecting El Niño related provisions.

The NPL Coverage Ratio at Credicorp stood at 120.9% at the end of 3Q26.
QoQ, the coverage ratio increased 363 bps, driven by a NPL portfolio that remained relatively stable and an increase in allowances for loan losses. YoY, the coverage ratio improved significantly (+1083 bps). This evolution was driven mainly by a drop in the NPL portfolio and an increase in provisions at BCP Stand-alone, where improvements implemented since 2024 for origination, monitoring and early recovery, coupled with a more favorable macroeconomic environment, fueled an upward trajectory.
NPL Coverage Ratio
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Earnings Release 3Q / 2026
Analysis of 3Q26 Consolidated Results
06
Other Income
Executive Summary
•Other Core Income rose 3.2% QoQ and 18.8% YoY. QoQ growth was driven by higher fee income, supported by stronger transactional activity across BCP’s core banking businesses and Yape, partially offset by the normalization of FX gains following a strong 2Q26. YoY growth reflected positive contributions from both fee income and FX gains.
•Other Non-Core Income dropped QoQ (-56.0%) and YoY (-18.3%). QoQ results mainly reflected the normalization of gains on securities following a strong 2Q26 and base effects in Other Non-Operating Income, partially offset by improved results from derivatives held for trading. YoY, results were mainly affected by lower gains on securities.

6.    Other Income
Other IncomeQuarter% ChangeUp to% Change
(S/ 000)3Q252Q263Q26QoQYoYSep 25Sep 26Sep 26 / Sep 25
Other Core Income1,457,6041,677,0871,731,0933.2%18.8%4,197,0115,006,34819.3%
Other Non-Core Income196,587365,115160,586-56.0%-18.3%824,769783,857-5.0%
Total Other Income1,654,1912,042,2021,891,679-7.4%14.4%5,021,7805,790,20515.3%

Other Income dropped 7.4% QoQ while increasing 14.4% YoY and 15.3% YTD. Solid growth in Core income, supported by strong transactional activity, was offset by lower Other non-core income reflecting non-recurring factors.
6.1.    Other Core Income
Other Core Income (1)
 Quarter% ChangeUp to% Change
(S/ 000)3Q252Q263Q26QoQYoYSep 25Sep 26Sep 26 / Sep 25
Fee Income1,063,0321,187,6081,280,0047.8%20.4%3,081,6093,616,89617.4%
Net Gain on Foreign Exchange Transactions394,572489,479451,089-7.8%14.3%1,115,4021,389,45224.6%
Total Other Core Income1,457,6041,677,0871,731,0933.2%18.8%4,197,0115,006,34819.3%

Other core income increased 3.2% QoQ, 18.8% YoY and 19.3% YTD. It represented 29.3% of Credicorp’s total risk-adjusted income in 3Q26, up from 28.8% in 2Q26 and 27.8% in 3Q25, reflecting the growing contribution of recurring, transaction-driven revenues to Credicorp’s income mix.
• QoQ growth was driven by Fee Income, which increased +7.8% and is discussed in the following section. This increase was partially offset by a 7.8% decline in Net Gain on Foreign Exchange Transactions, mainly reflecting the normalization of FX activity at BCP Stand-alone following the elevated transaction volumes registered amid electoral volatility in 2Q26. Furthermore, lower FX gains at BCP Bolivia also contributed to the decline, reflecting changes in the exchange rate environment and Central Bank intervention during September.
•YoY, growth was driven primarily by a +20.4% increase in Fee Income and, to a lesser extent, by a 14.3% increase in Net Gain on Foreign Exchange Transactions. At BCP Stand-alone, FX gains rose 16.3%, supported by higher transaction volumes and better pricing management. This positive performance was partially offset by lower FX gains at BCP Bolivia reflecting the same exchange-rate dynamics described in the QoQ analysis.
•YTD, Other Core Income increased 19.3%, supported by growth in both Fee Income and Net Gain on Foreign Exchange Transactions, which rose 17.4% and 24.6%, respectively. Fee-income growth was driven primarily by BCP Stand-alone, while the increase in FX gains reflected higher transaction volumes and better pricing management at BCP Stand-alone, together with a stronger contribution from Credicorp Capital’s Capital Markets business.
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Earnings Release 3Q / 2026
Analysis of 3Q26 Consolidated Results



At the end of 3Q26, Other Core Income as a percent of average assets stood at 2.43% compared with 2.39% in 2Q26 and 2.31% in 3Q25.
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Fee Income by Subsidiary
Fee Income by Subsidiary Quarter% ChangeUp to% Change
(S/000)3Q252Q263Q26QoQYoYSep 25Sep 26Sep 26 / Sep 25
BCP Stand-Alone
873,187970,3311,070,48310.3%22.6%2,558,3343,002,36017.4%
BCP Bolivia
10,24412,4439,775-21.4%-4.6%37,64039,4994.9%
Mibanco28,87338,44742,49110.5%47.2%84,845115,20835.8%
Mibanco Colombia14,31423,12828,71324.1%100.6%35,83569,32993.5%
Pacífico-5,123-4,638-2,771-40.3%-45.9%-15,167-12,613-16.8%
Prima95,00694,90193,532-1.4%-1.6%286,311279,628-2.3%
ASB12,61511,17412,98816.2%3.0%39,28237,758-3.9%
Credicorp Capital148,115171,304179,5134.8%21.2%418,676511,81822.2%
Eliminations and Others (1)
-114,199-129,482-154,72019.5%35.5%-364,147-426,09117.0%
Total Net Fee Income1,063,0321,187,6081,280,0047.8%20.4%3,081,6093,616,89617.4%
(1)Correspond mainly to the eliminations of bancassurance between Pacifico, BCP, and Mibanco.
Fee income increased 7.8% QoQ, 20.4% YoY and 17.4% YTD, driven primarily by BCP Stand-alone. Credicorp Capital and the Mibanco operations also contributed to growth, particularly YoY and YTD.
•QoQ, growth was driven primarily by BCP Stand-alone, where fee income increased 10.3%, Credicorp Capital and the Mibanco operations also contributed positively, although to a lesser extent. The drivers of BCP Stand-alone’s performance are discussed in the following section.
•YoY and YTD, BCP Stand-alone remained the principal contributor to fee-income growth. Credicorp Capital also reported higher fee income from its Capital Markets and Investment Funds businesses. Within Capital Markets, Sales and Corporate benefited from higher transaction levels amid global market volatility. Mibanco Peru and Mibanco Colombia provided an additional contribution, supported by higher disbursements and the resulting increase in commissions.
Fee Income at BCP Stand-alone
Compositions of Fee Income at BCP Stand-alone (*)
BCP Stand-alone FeesQuarter% ChangeUp to% Change
(S/ 000,000)3Q252Q263Q26QoQYoYSep 25Sep 26Sep 26 / Sep 25
Payments and transactional services (1)
27128234723.0%27.8%8419239.8%
Yape (2)
1642142307.4%39.8%41764354.3%
Liability and Transactional Accounts (3)
2042102267.4%10.4%6026457.2%
Loan Disbursement (4)
10311312510.7%21.6%30435014.9%
Off-balance sheet545250-3.7%-5.9%163156-3.9%
Insurances3547507.0%43.7%12214317.0%
Wealth Management and Corporate Finance192323-0.8%21.0%547029.2%
Others (5)
232920-32.6%-14.8%557128.9%
Total8739701,07010.3%22.6%2,5583,00217.4%
(*)Management figures.
(1)Includes fees from credit and debit card activity, payments, Culqi and collections.
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Earnings Release 3Q / 2026
Analysis of 3Q26 Consolidated Results
(2)Beginning in 3Q26, accounting reclassifications associated with Yape’s transactional fee expenses have been incorporated. These reclassifications affected Administrative and General Expenses and Fee Income. Figures for prior periods have been restated for comparability and may differ from those previously reported.
(3)Corresponds to fees from Account maintenance, interbank transfers, national transfers, and international transfers.
(4)Corresponds to fees from retail and wholesale loan disbursements.
(5)Use of third-party networks, other services to third parties, and Commissions in foreign branches.
Fee Income at BCP Stand-alone increased 10.3% QoQ, 22.6% YoY and 17.4% YTD, driven by continued transactional growth across core banking businesses and the integration of Culqi’s merchant payment platform. Recurring transactional fee growth was mainly attributable to:
•QoQ, growth was driven primarily by Payments and Transactional Services, reflecting higher credit- and debit-card purchase and processed volumes, particularly in July during the World Cup, lower loyalty-program expenses Liability and Transactional Accounts also contributed, through higher interbank and international transfer volumes. Yape maintained its positive momentum, reflecting higher transaction volumes across Checkout, Service payments and Merchant QR Payments. Service Payments benefited from the education enrollment cycle, while Merchant QR Payments were supported by stronger consumption and retail campaigns during the quarter.
•YoY, growth was broad-based. Payments and Transactional Services benefited from higher card activity, network-usage income and services provided to third parties, while Yape´s monetized functionalities continued to expand across its user and merchant ecosystem. Higher transfer volumes and loan origination also supported growth in Liability and Transactional Accounts, Loan Disbursements and associated insurance commissions.
•YTD, growth was led by Yape, reflecting the continued expansion of its monetized functionalities and higher TPV through Yape Business, which translated into higher fee income. Wealth Management and Corporate Finance provided an additional contribution, reflecting greater institutional activity in capital markets.
6.2    Other Non-Core Income
Other Non-Core Income (1)
Quarter% ChangeUp to% Change
S/0003Q252Q263Q26QoQYoYSep 25Sep 26Sep 26 / Sep 25
Net Gain on Securities111,977248,84457,377-76.9%-48.8%263,002441,85868.0%
Net Gain from Associates (2)
5,1926,1566,125-0.5%18.0%35,81621,577-39.8%
Net Gain of Derivatives Held for Trading (3)
244-14,69751,031n.a.n.a.40,16163,79758.9%
Net Gain from Exchange Differences7,51844,16016,263-63.2%116.3%33,67268,980104.9%
Other Non-operative Income71,65680,65229,790-63.1%-58.4%452,118187,645-58.5%
Total Other Non-Core Income196,587365,115160,586-56.0%-18.3%824,769783,857-5.0%
Other Non-Core Income declined 56.0% QoQ, 18.3% YoY and 5.0% YTD.
•QoQ, the decline was driven primarily by lower Net Gain on Securities. At Credicorp Capital Colombia, results normalized following a strong 2Q26, when volatility associated with the electoral environment created favorable trading opportunities. BCP Bolivia also contributed to the decline following the reclassification of certain revenues from fees to Net Interest Income. Other Non-Operating Income decreased mainly due to a base effect of a property-sale gain recorded by Pacífico in 2Q26. These effects were partially offset by improved results from derivatives held for trading at Credicorp Capital, which moved from a loss in 2Q26 to a gain in 3Q26.
•YoY, the decline was mainly attributable to lower Net Gain on Securities, primarily at BCP, and lower Other Non-Operating Income. The latter reflected a high comparison base at Pacífico, which recorded releases of administrative and contingent provisions in 3Q25. These effects were partially offset by improved results from derivatives held for trading at Credicorp Capital and by a recovery in the value of certain securities in Pacífico’s investment portfolio following rating downgrades recorded in the previous year.
•YTD, Other Non-Core Income declined 5.0%, mainly due to the high comparison base in Other Non-Operating Income, which included an extraordinary gain related to the acquisition of Banmédica in 1Q25. Excluding this effect, Other Non-Core Income would have increased 33%. The decline was partially offset by higher Net Gain on Securities, mainly at Credicorp Capital Colombia, supported by more favorable conditions for its fixed-income portfolio during the first nine months of the year. Improved results from Derivatives held for trading at Pacifico and Credicorp capital provided additional support.
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Earnings Release 3Q / 2026
Analysis of 3Q26 Consolidated Results
07
Insurance Underwriting Result and Medical Services
Executive Summary
•QoQ, the IUR increased 25.8% due to (i) Life, where growth was led by Group Life, which reported a drop in claims and a seasonal increase in premiums, and by Credit Life, which reported growth in premiums through Bancassurance (up on the back of loan growth) and Alliances, (ii) Corporate Health, which registered growth in revenues from new accounts and renewals, and (iii) P&C, where Medical Assistance reported an uptick in premiums through the Brokers and Bancassurance channels and a drop in claims.
•YoY, the IUR dropped 6.7% due to the evolution of Life, particularly of D&S, where a base effect was reported for reserve releases for SISCO in 3Q25. This impact was partially mitigated by the positive evolution of P&C, which was driven mainly by Medical Assistance, where premiums were up and claims were down.
•YTD, the IUR fell 11.1%, driven by Life, due to a drop in the result for the D&S line (through the same dynamics seen YoY). This contraction was partially offset by the evolution of Credit Life, Individual Life and Annuities, where the policy base continues to expand through issuances in Bancassurance and Retail, thereby establishing these as a source of structural growth for the business.

Insurance Underwriting Result
The Insurance Underwriting Result comprises three main businesses, each of which plays a differentiated strategic role. The main contributor to the result is Life, where optional insurance products distributed through bancassurance and other Credicorp channels offer key opportunities for growth. P&C’s result combines high-growth retail products, which are also distributed through Credicorp channels, with Commercial Lines, which primarily serve corporate clients. Corporate Health, in turn, benefits from its integration with our own network of hospitals and outpatient service centers, which are reported under Medical Services. This integration puts our business in a differentiated position to serve a market where private healthcare remains underdeveloped.
Our primary avenue for growth is retail, given that insurance penetration in Peru remains below the Latin American average. Our goal is to close this gap by distributing Life and P&C products across Credicorp’s ecosystem, which includes BCP, Mibanco, and Yape, and by forging alliances with third parties.
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Earnings Release 3Q / 2026
Analysis of 3Q26 Consolidated Results
Life Insurance
Insurance Underwriting ResultQuarter% ChangeUp to% Change
S/ million3Q252Q263Q26QoQYoYSep 25Sep 26Sep 26 / Sep 25
Credit Life137.2133.3150.312.8%9.5%391.2447.914.5%
Individual Life18.132.635.28.0%94.5%71.789.524.8%
Group Life41.714.432.2123.6%-22.8%111.457.6-48.3%
Disability & Survivorship62.34.8(1.4)n.a.n.a.120.123.0-80.8%
Annuities(2.7)(0.7)8.7n.a.n.a.8.711.329.9%
Personal Accidents3.11.21.741.7%-45.2%9.15.4-40.7%
Total259.9185.6227.122.4%-12.6%711.4614.8-13.6%
Credit Life is the main driver of the Insurance Underwriting result in Life, followed by Individual Life. Credit Life products, which are linked to loans, benefit from premiums distributed through bancassurance channels and alliances. Individual Life products are distributed through the same channels and include protection and savings options within the retail segment. The Group Life, D&S, Annuities and Personal Accidents lines are secondary contributors to the evolution of the Life line.

QoQ, the Insurance Underwriting Result rose 22.4%, driven mainly by Credit Life, which reported sustained growth in premium turnover in Bancassurance and Alliances. Group Life’s result was bolstered by a drop in claims from Supplementary Insurance for High Risk Occupations (SCTR), while Individual Life continued to register solid results on the back of our strategy to expand placements of optional protection and savings policies in the retail segment.
YoY, the Insurance Underwriting Result dropped 12.6%. This evolution was fueled mainly by D&S, which registered a base effect for releases of claims registered in 3Q25, and secondarily by Group Life, which reported an uptick in claims.

YTD, the Insurance Underwriting Result decreased, driven by inflation-related increases in claims expenses in Group Life (which was offset by the evolution of the Net Interest Income line) and by a drop in claims releases in D&S. The combined impact of the aforementioned drivers was partially offset by Credit Life, which reported growth in premiums in all channels.

P&C Insurance
Insurance Underwriting ResultQuarter% ChangeUp to% Change
S/ million3Q252Q263Q26QoQYoYSep 25Sep 26Sep 26 / Sep 25
Medical Assistance38.049.366.434.7%74.7%83.0162.195.3%
Personal Lines43.048.055.916.5%30.0%152.0150.9-0.7%
Commercial Lines6.0(16.7)(5.0)-70.1%n.a.17.0(28.9)n.a.
Vehicles11.02.70.6-77.8%-94.5%31.0(4.1)n.a.
Total97.583.4117.841.2%20.9%282.4279.9-0.9%

Personal Lines and Medical Assistance are the main contributors to P&C earnings; Vehicles (Cars and SOAT) are secondary contributors. These businesses benefit from distribution through the bancassurance and broker channels, respectively. Commercial Lines, which serve mainly corporate clients, present different dynamics for claims, premiums, and reinsurance and complement P&C’s offerings.

QoQ and YoY, the Insurance Underwriting Result rose +41.2% and +20.9%, respectively, driven by (i) Medical Assistance, which reported an uptick in premiums for indemnity and comprehensive health products and a drop in claims due to IBNR reserve releases, (ii) Personal Lines, which registered growth in sales of Card Protection and Home Insurance policies. The aforementioned was partially offset by the results for Commercial Lines and Vehicles, which were impacted by a drop in premiums due to a reduction in the exchange rate and high competition in the market.

YTD, the Insurance Underwriting Result dropped 0.9% due to the evolution in Commercial Lines and Vehicles, which reported a drop in premiums due to a reduction in the exchange rate and an uptick in claims. The aforementioned was
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Earnings Release 3Q / 2026
Analysis of 3Q26 Consolidated Results
partially offset by the result for Medical Assistance, which reported growth in sales of individual insurance products and comprehensive health plans.

Corporate Health

The Corporate Health business continued to deliver favorable results, both QoQ and YoY, driven primarily by premium growth, which rose on the back of an expanding customer base and issuances of new accounts for regular and optional plans. In addition, disciplined claims management throughout the year led to a lower claims levels, further supporting earnings growth in the business.


Medical Services Result
QoQ and YoY, Medical Services Results increased 2.2% and 10.0%, respectively. The improvement in results was driven by (i) higher sales revenue, in line with an increase in outpatient visits and hospital admissions. This uptick was partially offset by (ii) higher costs, mainly reflecting increases in material costs and medical professional fees.
YTD, results rose 35.8%. When interpreting these results, it is important to note that 1Q26 contemplates three months of reporting, whereas 1Q25 includes only one month because Pacifico Salud was consolidated in March.
The Medical Services business continues to demonstrate solid commercial dynamics and cost control.

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▲
2.2% QoQ
▲
10.0% YoY
▲
35.8% YTD
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Earnings Release 3Q / 2026
Analysis of 3Q26 Consolidated Results
08
Operating Expenses
Executive Summary
•Operating expenses increased 13.6% YTD, driven mainly by core business at BCP and by initiatives in the Innovation portfolio at the Credicorp level.
•Core business expenses rose primarily through BCP, which was impacted by (i) higher administrative expenses, which increased due to growth in spending for the use of cloud infrastructure and other IT-related services, and (ii) an increase in expenses for Employee salaries and benefits, which rose on the back of initiatives to develop commercial, technological and transactional capacities and through growth in provisions for variable compensation.
•Expenses for innovation initiatives at the Credicorp level increased 32.5% YTD.

Total operating expenses
Operating expenses Quarter% Change Up to% Change
S/ 0003Q252Q263Q26QoQYoYSep 25Sep 26Sep 26 / Sep 25
Salaries and employees benefits1,341,1371,475,7041,548,8205.0%15.5%4,007,2934,483,94511.9%
Administrative and general expenses1,068,4591,114,9321,207,7868.3%13.0%2,904,2873,384,38416.5%
Depreciation and amortization219,800235,204240,8612.4%9.6%636,228717,43312.8%
Association in participation65155124-20.0%90.8%7,235452-93.8%
Operating expenses2,629,4612,825,9952,997,5916.1%14.0%7,555,0438,586,21413.6%
The analysis of expenses will be based on YTD movements to eliminate seasonal effects between quarters.
Operating expenses rose 13.6%, driven primarily by:
•The increase in Administrative Expenses was driven by BCP Stand-alone, Mibanco and Pacifico. In BCP Stand-alone, transactions through digital channels rose, which generated higher expenses for use of cloud infrastructure and other IT-related services. Mibanco reported an uptick in expenses that was fueled primarily by strategic project roll-outs to develop technological and distribution capacities. At Pacifico, expenses rose due to the company’s consolidation of the health business, which began in March 2025.
•The uptick in Employee Salaries and Benefits, which was driven mainly by: (i) BCP Stand-alone, which registered an increase in hiring associated with projects focused on the development of commercial, technological and transactional capacities and growth in provisions to cover variable compensation, which rose alongside an increase in results; and (ii) Mibanco, where higher expenses were fueled mainly by an uptick in provisions for variable compensation, which was attributable to the positive evolution of results.
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Earnings Release 3Q / 2026
Analysis of 3Q26 Consolidated Results
08. Operating Expenses
Administrative Expenses
Administrative and General ExpensesQuarter% ChangeUp to% Change
S/ 0003Q252Q263Q26QoQYoYSep 25Sep 26Sep 26 / Sep 25
IT expenses and IT third-party services336,894433,286432,553-0.2%28.4%963,0061,257,97030.6%
Advertising and Loyalty programs133,510130,559153,71417.7%15.1%330,927407,26223.1%
Taxes and contributions90,710103,586109,5015.7%20.7%260,378323,25524.1%
Audit Services, Consulting and professional fees120,17789,752113,65026.6%-5.4%283,335291,2272.8%
Transport and communications64,56566,73767,2390.8%4.1%175,766182,4913.8%
Repair and maintenance43,71936,93345,75423.9%4.7%113,240111,068-1.9%
Agents’ Fees27,80724,54523,834-2.9%-14.3%81,97672,453-11.6%
Services by third-party27,76629,48430,6824.1%10.5%75,83683,59410.2%
Leases of low value and short-term34,85846,25038,468-16.8%10.4%102,972126,04722.4%
Miscellaneous supplies16,99318,98414,315-24.6%-15.8%54,56850,071-8.2%
Security and protection16,88817,58617,7270.8%5.0%50,77453,3205.0%
Subscriptions and quotes20,77421,54222,9936.7%10.7%58,87765,38411.1%
Electricity and water11,39013,47112,271-8.9%7.7%34,17835,9195.1%
Electronic processing8,93510,90312,44014.1%39.2%24,33233,41037.3%
Insurance34,401(3,152)10,000-417.3%-70.9%62,56129,950-52.1%
Cleaning6,4747,6047,9524.6%22.8%20,04622,71913.3%
Others72,59866,86294,69341.6%30.4%211,515238,24412.6%
Total1,068,4591,114,9321,207,7868.3%13.0%2,904,2873,384,38416.5%
YTD, administrative expenses rose 16.5%. This uptick was fueled mainly by BCP Stand-alone, which reported higher expenses for IT and IT third-party services, and Advertising and Loyalty programs. Mibanco and Pacifico were secondary contributors to growth.
Core operating expenses and the Innovation Portfolio
Operating Expenses (1)
Quarter% ChangeUp to% Change
S/ 0003Q252Q263Q26QoQYoYSep 25Sep 26Sep 26 / Sep 25
Operating Expenses Ex Innovation2,264,0462,367,8552,514,4716.2%11.1%6,520,5437,215,16410.7%
Innovation Portfolio (2)
365,415458,140483,1205.5%32.2%1,034,5001,371,05032.5%
Total Operating Expenses2,629,4612,825,9952,997,5916.1%14.0%7,555,0438,586,21413.6%
(1)Management figures.
(2)Includes innovation portfolio initiatives in subsidiaries and Krealo.
YTD, the 13.6% rise in operating expenses was driven mainly by core businesses at BCP Stand-alone and by the innovation portfolio at the Credicorp level. Expenses for innovation portfolio initiatives represented 16.0% of total expenses, ticking up 32.5% YTD, supporting continued growth in risk-adjusted revenues.

Growth in core business expenses at BCP Stand-alone was fueled by:

•Core business expenses, excluding IT
Spending for Employee Salaries and Benefits was up, driven by (i) an uptick in initiatives to develop commercial, technological and transactional capacities, and (ii) an increase in provisions for variable compensation, which rose alongside an uptick in results.

•Technology expenses (IT)
Fueled by an increase in spending for licenses and outsourced IT services, driven by increased hiring of specialized personnel.
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Earnings Release 3Q / 2026
Analysis of 3Q26 Consolidated Results
09
Operating Efficiency
Executive Summary
YTD, the efficiency ratio stood at 45.4% (-26 bps), remaining within the guidance range, as operating income, driven primarily by net interest income, grew at a faster pace than operating expenses, which were associated with BCP’s core business and initiatives within its innovation portfolio.

Efficiency ratio (1) reported by subsidiary
SubsidiaryQuarter% ChangeUp to% Change
3Q252Q263Q26QoQYoYSep 25Sep 26Sep 26 / Sep 25
BCP Stand-alone39.9%38.5%39.1%54 bps-86 bps38.7%38.8%8 bps
BCP Bolivia59.0%57.1%67.4%1028 bps835 bps65.5%62.8%-278 bps
Mibanco Peru49.4%46.8%46.9%11 bps-255 bps51.4%47.6%-379 bps
Mibanco Colombia63.7%58.0%58.7%70 bps-504 bps66.4%60.1%-627 bps
Pacifico38.2%40.2%35.7%-451 bps-252 bps36.1%38.3%217 bps
Prima AFP52.5%51.2%52.4%125 bps-5 bps52.7%53.6%82 bps
Credicorp46.4%45.4%45.1%-24 bps-125 bps45.7%45.4%-26 bps
(1)Operating expenses / Operating income (under IFRS 17). Operating expenses = Salaries and employee benefits + Administrative expenses + Depreciation and amortization + Association in participation + Acquisition cost. Operating income = Net interest, similar income, and expenses + Fee income + Net gain on foreign exchange transactions + Net gain from associates +Net gain on derivatives held for trading + Net gain from exchange differences + Insurance Underwriting Results + Results for Medical Services
This analysis will be based on YTD movements to eliminate seasonal effects between quarters.

The efficiency ratio evolved as expected and remained within the guidance range, reaching 45.4% (-26 bps). This performance was supported by higher operating revenues, driven by growth in net interest income and other core income, which offset higher expenses associated with the expansion of BCP Individual’s core business and investments in Credicorp’s innovation portfolio. These investments are aimed at strengthening capabilities, and securing sustainable competitive advantages over the long term.
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Earnings Release 3Q / 2026
Analysis of 3Q26 Consolidated Results
10
Regulatory Capital
Executive Summary
•At the end of 3Q26, the regulatory capital ratio stood at 123%, above the regulatory minimum.
•The IFRS CET1 ratio at BCP Stand-alone reported a drop of -125 bps YoY to stand at 11.92%, which is above our internal appetite of 11%. This decline was fueled by an increase in risk-weighted assets (RWA) for credit risk, which rose on the back of growth in the retail portfolio. Said growth was offset by an increase in Retained Earnings, which was driven by business expansion.
•The IFRS CET1 ratio at Mibanco dropped -201 bps YoY to stand at 15.14%, which was above our internal appetite of 15%. This ratio’s decline was fueled by an increase in RWAs, which was in turn driven by portfolio growth. The uptick in RWAs was partially offset by an increase in Retained Earnings, which rose on the back of business expansion.


10.1 Regulatory Capital at Credicorp
Capital analysis of Financial Group.
At the end of 3Q26, the Regulatory Capital Ratio stood at 123%, above the minimum required. The reduction of 293 bps QoQ was driven by: (i) an increase in capital requirements to cover loan growth at BCP Stand-alone and Mibanco; (ii) a decrease in the balance for subordinated debt, after the execution of a scheduled call of a bond at BCP; and (iii) a drop in unrealized gains driven by the fixed income portfolio. These impacts were partially offset by an increase in retained earnings, which was driven by business expansion.
Capital Coverage Ratios
chart-2573af037c074573b7e.jpg

YoY, the ratio fell 1141 bps. This evolution was fueled mainly by an increase in regulatory capital requirements and secondarily, by a decrease in Unrealized Profit, both of which were driven by the same dynamics that drove the QoQ results. The reduction in Unrealized gains was offset by an uptick in Reserves, which was driven by earnings capitalization in 2025, and by growth in the balance for Subordinated Debt, which was triggered by issuances at subsidiaries throughout the year.

The dynamics explained, related to the increase of regulatory capital requirements to cover loan growth, the drop in unrealized gains and the increase in retained earnings, also impacted the evolution of the Regulatory Tier 1 ratio, which stood at 147% (+80 bps QoQ, -2458 bps YoY), and the Regulatory CET 1 ratio, which situated at 176% (+82 bps QoQ, -3187 bps YoY).

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Earnings Release 3Q / 2026
Analysis of 3Q26 Consolidated Results
10. Regulatory Capital
10.2 Analysis of Capital at BCP Stand-alone
chart-649a6c3f9357450fad8.jpg
The IFRS CET 1 Ratio at BCP Stand-alone rose 23 bps QoQ to stand at 11.92% at the end of 3Q26, which was above our internal appetite of 11%. This increase was fueled mainly by growth in Retained Earnings (+24.4%), which ticked up alongside business expansion. The result for Retained earnings was partially offset by (i) an increase in RWAs (+3.4%), and credit RWAS in particular, which was fueled by growth in retail loans, and (ii) to a lesser extent, by a drop in unrealized gains due to a devaluation of fixed income instruments, which were impacted by rate increases.
YoY, the ratio dropped -125 bps after growth in credit RWAs outstripped the expansion reported by Retained Earnings.
Finally, under current regulatory parameters, the local CET 1 ratio stood at 11.69%, which compares favorably with the minimum of 8.38% required at the end of September 2026. The Regulatory Global Capital ratio stood at 16.54% (-73 bps QoQ and -118 bps YoY),which was above the regulatory minimum of 14.91%.

10.3 Capital Analysis at Mibanco
chart-201c4facbb074ec39fe.jpg
At the end of 3Q26, the IFRS CET 1 at Mibanco stood at 15.14% (-76 bps QoQ), which was above our internal appetite of 15%. QoQ. The decline this quarter was attributable to an uptick in credit RWAs, which rose on the back of loan growth. This result was partially offset by an uptick in Retained Earnings, which was driven by business expansion. YoY, the ratio fell -201 bps. This reduction was fueled by growth in RWAs- which was driven by the same dynamics that drove the QoQ result-, and was offset by an uptick in total results and in the Capital and Reserves level, which rose on the back of earnings capitalization.
Under the parameters of current regulation, the local CET 1 ratio stood at 15.63%, which compares favorably with the minimum requirement of 8.38% at the end of September 2026. The Regulatory Global Capital Ratio stood at 20.64% (+3 bps QoQ), at quarter-end, which remains comfortably above the minimum of 15.26% required by the regulator.
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Earnings Release 3Q / 2026
Analysis of 3Q26 Consolidated Results
11
Economic Outlook
Executive Summary
•In 3Q26, GDP is estimated to have grown around 3.3% YoY, up from 2.6% in 2Q26, mainly due to a smaller contraction in primary sectors. Meanwhile, non-primary sectors continued to expand at a solid pace close to 5% YoY.
•Inflation closed 3Q26 at 4.5% YoY (4.0% YoY in 2Q26), its highest level since September 2023, and has remained above the upper bound of the BCRP's target range (1%-3%) since March 2026. As of October 2026, the BCRP held its policy rate at 4.25% (no change over the past twelve months).

•According to BCRP, the exchange rate closed 3Q26 at PEN/USD 3.431, a depreciation of 0.6% relative to the end of 2Q26.


Peru: Economic Forecast
Peru2022202320242025
2026 (4)
2027 (4)
GDP (US$ bn)249272296341392424
Real GDP (% change)2.8-0.43.53.43.23.0
GDP per capita (US$)7,4428,1598,6739,92611,29512,109
Domestic demand (% change)2.4-1.04.05.85.53.5
Financial system loan (% change) (1)9.72.81.34.410.47.0
Financial system loan, FX neutral (% change) (1)10.93.51.07.210.57.8
Inflation, end of period (2)8.53.22.01.55.52.5
Reference Rate, end of period7.506.755.004.254.54.5
Exchange rate, end of period3.813.713.763.363.353.25
Exchange rate, (% change) (3)4.5%2.7%-1.3%10.6%0.3%3.0%
Fiscal balance (% GDP)-1.7-2.7-3.4-2.2-1.5-2.4
Public Debt (as % GDP)333232302930
Trade balance (US$ bn)101724354948
(As % GDP)4.2%6.3%8.2%10.1%12.5%11.3%
Exports66677693119123
Imports565052597075
Current account balance (As % GDP)(4.0)%0.5%2.4%3.5%4.0%3.2%
Net international reserves (US$ bn)72717990101109
(As % GDP)29%26%27%26%26%26%
(As months of imports)151718191717
Source: INEI, BCRP y SBS.
(1)Financial System, Current Exchange Rate
(2)Inflation Target: 1%-3%
(3)Negative % change indicates depreciation.
(4)Grey area indicates estimates by BCP – Economic Research as of Octubre 2026.
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Earnings Release 3Q / 2026
Analysis of 3Q26 Consolidated Results
11. Economic Outlook
Main Macroeconomic Variables
chart-083656268cfd4dd59ed.jpg
In 3Q26, GDP is estimated to have grown by around 3.3% YoY, accelerating from 2.6% in 2Q26. This result was mainly fueled by a smaller contraction in the primary sectors in 3Q26 (1.5% versus 5.2% in 2Q26), which represents the sharpest drop since 2014, excluding the pandemic. Fishing, agriculture, and primary manufacturing continued to be impacted by El Niño. Meanwhile, domestic demand is estimated to have grown above 5%, marking eight consecutive quarters of solid growth, supported by historically high terms of trade, expanding employment, and the momentum of the economic cycle. Notably, private investment has been growing at double-digit rates since 3Q25.

chart-0a6a992293484b2c8cf.jpg
Annual inflation in Metropolitan Lima closed 3Q26 at 4.5% YoY, its highest level since September 2023, and has remained above the upper bound of the BCRP's target range (1%-3%) since March 2026. This acceleration was driven mainly by higher transportation costs, which rose on the back of an increase in international oil prices. Core inflation excluding food and energy (SAE) remained at 4.5%, its highest level since mid-2023. If we exclude transportation, SAE inflation increased from 1.6% YoY in 2Q26 to 1.8% in 3Q26, but remained below the midpoint of the target range.
In 3Q26, BCRP kept the policy rate unchanged at 4.25%. The last adjustment took place in September 2025, when the central bank cut the rate by 25 basis points.
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Earnings Release 3Q / 2026
Analysis of 3Q26 Consolidated Results
11. Economic Outlook

chart-58476f92b0784d99a3e.jpg

image1.jpg
The annualized fiscal deficit narrowed to 0.9% of GDP in September 2026, its lowest level since May 2022. Fiscal revenues increased 19.7% YoY in 3Q26, supported by elevated metal prices and strong growth in domestic demand growth, while public spending rose 5.8% YoY, with current expenditure up 11.4% and gross fixed capital formation increasing 7.4%.
The credit rating agencies (Moody’s, Fitch, and S&P) made no rating actions during 3Q26. As a result, they continue to assign Peru investment-grade status with a stable outlook.
The 12-month cumulative trade balance surplus increased to USD 48 billion in August 2026, a new all-time high, driven by a 36.0% growth in exports amid elevated copper, gold, and silver prices. Imports, in turn, rose 19.0%, reflecting the strength of domestic demand and investment activity.
According to the BCRP, the exchange rate closed 3Q26 at PEN 3.431 per U.S. dollar, a 0.6% depreciation relative to the end of 2Q26 and a 2.1% depreciation compared with the end of 2025. In the final week of the quarter, the exchange rate weakened from PEN 3.354 to PEN 3.431 per U.S. dollar, a depreciation of more than 2%, reflecting the rebound in oil prices above USD 100 per barrel, higher U.S. Treasury yields, and a stronger U.S. dollar following the Fed’s decision to raise its policy rate for the first time since 2023. Net International Reserves (NIR) closed 3Q26 at USD 92.2 billion, slightly down from USD 95.6 billion at the end of 2Q26.
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Earnings Release 3Q / 2026
Analysis of 3Q26 Consolidated Results
Safe Harbor for Forward-Looking Statements
This material includes “forward-looking statements” within the meaning of Section 27A of the U.S. Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934. All statements other than statements of historical fact are forward-looking and may contain information about financial results, economic conditions, trends and known uncertainties. Forward-looking statements are not assurances of future performance. Instead, they are based only on our management’s current views, beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions.
Many forward-looking statements can be identified by words such as: “anticipate”, “intend”, “plan”, “goal”, “seek”, “believe”, “project”, “estimate”, “expect”, “strategy”, “future”, “likely”, “would”, “may”, “should”, “will”, “see” and similar references to future periods. Examples of forward-looking statements include, among others, statements or estimates we make regarding guidance relating to losses in our credit portfolio, efficiency ratio, provisions and non-performing loans, current or future market risk and future market conditions, expected macroeconomic events and conditions, our belief that we have sufficient capital and liquidity to fund our business operations, expectations of the effect on our financial condition of claims, legal actions, environmental costs, contingent liabilities and governmental and regulatory investigations and proceedings, strategy for customer retention, growth, governmental programs and regulatory initiatives, credit administration, product development, market position, financial results and reserves and strategy for risk management.
We caution readers that forward-looking statements involve known and unknown risks and uncertainties that could cause actual results, performance, or events to differ materially from those that we expect or that are expressed or implied in the forward-looking statements, depending on the outcome of certain factors, including, without limitation, adverse changes in:
•The occurrence of natural disasters or political or social instability in Peru;
•The adequacy of the dividends that our subsidiaries are able to pay to us, which may affect our ability to pay dividends to shareholders and corporate expenses;
•Performance of, and volatility in, financial markets, including Latin-American and other markets;
•The frequency, severity and types of insured loss events;
•Fluctuations in interest rate levels;
•Foreign currency exchange rates, including the Sol/US Dollar exchange rate;
•Deterioration in the quality of our loan portfolio;
•Increasing levels of competition in Peru and other markets in which we operate;
•Developments and changes in laws and regulations affecting the financial sector and adoption of new international guidelines;
•Changes in the policies of central banks and/or foreign governments;
•Effectiveness of our risk management policies and of our operational and security systems;
•Losses associated with counterparty exposures;
•The scope of the coronavirus (“COVID-19”) outbreak, actions taken to contain the COVID-19 and related economic effects from such actions and our ability to maintain adequate staffing; and
•Changes in Bermuda laws and regulations applicable to so-called non-resident entities.
See “Item 3. Key Information—3. D Risk Factors” and “Item 5. Operating and Financial Review and Prospects” in our most recent Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission for additional information and other such factors. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof and are based only on information currently available to us. Therefore, you should not rely on any of these forward-looking statements.
We undertake no obligation to publicly update or revise these or any other forward-looking statements that may be made to reflect events or circumstances after the date hereof, whether as a result of changes in our business strategy or new information, to reflect the occurrence of unanticipated events or otherwise.
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Earnings Release 3Q / 2026
Analysis of 3Q26 Consolidated Results
12
Appendix
12.1. Evolution of Loans in Average Daily Balances
47
12.2.  Loan Portfolio Quality
47
12.3.  Net Interest Income (NII)
51
12.4.  Net Interest Margin (NIM) and Risk Adjusted NIM
51
12.5. Physical Points of contact
52
12.6.  Regulatory Capital
52
12.7.  Financial Statements and Ratios by Business
56
12.7.1.  Credicorp Consolidated
56
12.7.2.  Credicorp Stand-alone
58
12.7.3.  BCP Consolidated
59
12.7.4.  BCP Stand-alone
61
12.7.5.  BCP Bolivia
63
12.7.6.  Mibanco
64
12.7.7.  Prima AFP
65
12.7.8.  Grupo Pacifico
66
12.7.9.  Investment Management and Advisory
67
12.8.  Table of Calculations
68
12.9.  Glossary of terms
69
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Earnings Release 3Q / 2026
Analysis of 3Q26 Consolidated Results
12. Appendix
12.1.Evolution of Loans in Average Daily Balances
Total Loans (in Average Daily Balances) (1)(2)
Total Loans
(S/ millions)
As ofVolume change% change% Part. in total loans
Sep 25Jun 26Sep 26QoQYoYQoQYoYSep 25Jun 26Sep 26
BCP Stand-alone121,189131,365135,9944,63014,8053.5%12.2%82.6%83.2%84.7%
Wholesale Banking54,64558,82559,9371,1125,2911.9%9.7%37.2%37.3%37.3%
Corporate32,54434,97734,951-262,407-0.1%7.4%22.2%22.2%21.8%
Middle - Market22,10123,84824,9851,1382,8844.8%13.0%15.1%15.1%15.6%
Retail Banking66,54472,54076,0583,5189,5144.8%14.3%45.4%46.0%47.4%
SME - Business7,7517,1527,658506-947.1%-1.2%5.3%4.5%4.8%
SME - Pyme16,19317,72018,7381,0182,5455.7%15.7%11.0%11.2%11.7%
Mortgage22,98624,60425,2366322,2502.6%9.8%15.7%15.6%15.7%
Consumer13,51116,50917,5611,0524,0506.4%30.0%9.2%10.5%10.9%
Credit Card6,1026,5556,8653107634.7%12.5%4.2%4.2%4.3%
Mibanco12,73414,12414,8557302,1215.2%16.7%8.7%8.9%9.3%
Mibanco Colombia2,0042,6813,1724911,16818.3%58.3%1.4%1.7%2.0%
Bolivia9,3638,3435,162-3,181-4,201-38.1%-44.9%6.4%5.3%3.2%
ASB Bank Corp.1,4311,3541,336-18-94-1.3%-6.6%1.0%0.9%0.8%
BAP's total loans146,720157,866160,5192,65313,7991.7%9.4%100.0%100.0%100.0%
For consolidation purposes. Loans generated in Foreign Currency (FC) are converted into Local Currency (LC).
____
Larger contraction in volume
(1) Includes Special accounts, and other banking.____
Larger expansion in volume
(2) Portfolio Management Figures. Non-audited figures.


12.2.Loan Portfolio Quality
Portfolio Quality Ratios by Segment
Wholesale Banking
chart-c641ecc1fe994714b48.jpg
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Earnings Release 3Q / 2026
Analysis of 3Q26 Consolidated Results
12. Appendix
SME-Business
chart-abc205fa8b7d4d80882.jpg
SME-Pyme
chart-97064603d2504cc29df.jpg
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Earnings Release 3Q / 2026
Analysis of 3Q26 Consolidated Results
12. Appendix
Mortgage
chart-df2cfdadfb144eaa8c2.jpg
Consumer
chart-b14f25e2a0ec477ebe9.jpg
Credit Cards
chart-25bc802f7f8147af9cd.jpg
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Earnings Release 3Q / 2026
Analysis of 3Q26 Consolidated Results
12. Appendix
Mibanco
chart-8594062fcb91466881f.jpg
BCP Bolivia
chart-e75604ad6f634c2eab8.jpg







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Earnings Release 3Q / 2026
Analysis of 3Q26 Consolidated Results
12. Appendix
12.3.Net Interest Income (NII)
NII Summary
Net interest income
Quarter
% Change
Up to% Change
S/000
3Q252Q263Q26QoQYoYSep 25Sep 26Sep 26 / Sep 25
Interest income
4,987,6935,413,8855,717,6875.6%14.6%14,804,77516,343,98410.4%
Interest on loans
3,960,9804,370,7004,664,6706.7%17.8%11,649,34513,178,18313.1%
Dividends on investments
19,17924,89129,51818.6%53.9%67,21171,4016.2%
Interest on deposits with banks
316,420321,152271,330-15.5%-14.3%1,003,365914,054-8.9%
Interest on securities
623,216674,434729,0198.1%17.0%1,928,2742,112,6869.6%
Other interest income
67,89822,70823,1501.9%-65.9%156,58067,660-56.8%
Interest expense
1,299,8641,316,9341,376,5634.5%5.9%3,929,5633,943,1820.3%
Interest expense (excluding Net Insurance Financial Expenses)
1,158,4201,147,8591,208,9035.3%4.4%3,513,4423,443,529-2.0%
Interest on deposits
565,344565,502601,7876.4%6.4%1,725,9711,706,617-1.1%
Interest on borrowed funds
252,490224,381231,8643.3%-8.2%784,402667,044-15.0%
Interest on bonds and subordinated notes
164,653195,051193,611-0.7%17.6%525,802577,0289.7%
Other interest expense
175,933162,925181,64111.5%3.2%477,267492,8403.3%
Net Insurance Financial Expenses
141,444169,075167,660-0.8%18.5%416,121499,65320.1%
Net interest, similar income and expenses
3,687,8294,096,9514,341,1246.0%17.7%10,875,21212,400,80214.0%
Provision for credit losses on loan portfolio, net of recoveries
602,918731,208828,13613.3%37.4%1,759,9702,041,43216.0%
Net interest, similar income and expenses, after provision for credit losses on loan portfolio
3,084,9113,365,7433,512,9884.4%13.9%9,115,24210,359,37013.6%
Average interest earning assets
233,285,291257,562,678260,119,7201.0%11.5%237,958,451253,498,8856.5%
Net interest margin (1)
6.57%6.63%6.93%30 bps36 bps6.33%6.79%46 bps
Risk-adjusted Net interest margin (1)
5.53%5.49%5.66%17 bps13 bps5.34%5.71%37 bps
Net provisions for loan losses / Net interest income (1)
16.35%17.85%19.08%123 bps273 bps16.18%16.46%28 bps
(1)Annualized. For further detail on the NIM calculation due to IFRS17, please refer to Annex 12.8.
12.4.Net Interest Margin (NIM) and Risk-Adjusted NIM by Subsidiary
NIM Breakdown3Q252Q263Q26
BCP6.11%6.13%6.39%
Mibanco15.02%15.15%15.31%
BCP Bolivia3.21%2.94%3.75%
Credicorp6.57%6.63%6.93%
NIM: Annualized Net interest income (excluding Net Insurance Financial Expenses) / Average period end and period
beginning interest-earning assets.

Risk Adjusted NIM Breakdown3Q252Q263Q26
BCP5.25%5.18%5.32%
Mibanco11.03%11.21%10.71%
BCP Bolivia3.45%2.18%3.75%
Credicorp5.53%5.49%5.66%
Risk-Adjusted NIM: (Annualized Net interest income (excluding Net Insurance Financial Expenses) - annualized provisions) / Average
period end and period beginning interest-earning assets.
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Analysis of 3Q26 Consolidated Results
12. Appendix


12.5.    Physical Points of contact
Physical Point of Contact (1)
As of
Change (units)
(Units)
Sep 25Jun 26Sep 26QoQYoY
Branches (2)
646648648-2
ATMs2,7232,6222,497(125)(226)
Agents12,64411,66711,307(360)(1,337)
Total16,01314,93714,452(485)(1,561)
(1)Includes Physical Point of Contact of BCP Stand-Alone, Mibanco Peru and BCP Bolivia
(2)Includes Banco de la Nacion branches.
12.6. Regulatory Capital
Regulatory Capital and Capital Adequacy Ratios
(IFRS)
Regulatory Capital and Capital Adequacy RatiosAs of% Change
S/000Sep 25Jun 26Sep 26QoQYoY
Capital Stock1,318,9931,318,9931,318,993——
Treasury Stocks(209,845)(209,106)(209,106)—%-0.4%
Capital Surplus139,52786,14684,273-2.2%-39.6%
Legal and Other Capital reserves29,628,42732,540,11832,577,1400.1%10.0%
Minority interest475,729476,717477,1120.1%0.3%
Current and Accumulated Earnings (1)6,737,2394,229,4256,203,33146.7%-7.9%
Unrealized Gains or Losses (2)392,256179,202(627,628)n.a.n.a.
Goodwill(1,290,496)(1,271,630)(1,276,599)0.4%-1.1%
Intangible Assets (3)(3,345,228)(3,813,805)(3,903,003)2.3%16.7%
Deductions in Common Equity Tier 1 instruments (4)(81,609)(59,128)(43,433)-26.5%-46.8%
Subordinated Debt7,246,4069,911,6628,385,721-15.4%15.7%
Loan loss reserves (5)2,036,0802,243,2472,311,2643.0%13.5%
Deductions in Tier 2 instruments (6)(1,438,739)(1,323,617)(847,156)-36.0%-41.1%
Total Regulatory Capital (A)41,608,74144,308,22444,450,9090.3%6.8%
Total Regulatory Common Equity Tier 1 Capital (B)33,764,99333,476,93234,601,0803.4%2.5%
Total Regulatory Tier 1 Capital (C)33,764,99333,476,93234,601,0803.4%2.5%
Total Regulatory Capital Requirement (D)30,993,86235,232,60236,187,8962.7%16.8%
Total Regulatory Common Equity Tier 1 Capital Requirement (E)16,281,63419,163,32119,714,4282.9%21.1%
Total Regulatory Tier 1 Capital Requirement (F)19,727,35522,964,37223,605,2102.8%19.7%
Regulatory Capital Ratio (A) / (D)134%126%123%-293 bps-1141 bps
Regulatory Common Equity Tier 1 Capital Ratio (B) / (E)207%175%176%82 bps-3187 bps
Regulatory Tier 1 Capital Ratio (C) / (F)171%146%147%80 bps-2458 bps

(1)Earnings include Banco de Crédito del Perú and Mibanco Perú. Losses include all subsidiaries.
(2)Gains include Investment Grade Government Bonds and Peruvian Central Bank Certificates of Deposits. Losses include all bonds.
(3)Different to Goodwill. Includes Deferred Tax Assets.
(4)Investments in Equity.
(5)Up to 1.25% of total risk-weighted assets of Banco de Crédito del Perú, Solución Empresa Administradora Hipotecaria, Mibanco and Atlantic Security Bank.
(6)Investments in Tier 2 Subordinated Debt.
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Earnings Release 3Q / 2026
Analysis of 3Q26 Consolidated Results
12. Appendix
Regulatory and Capital Adequacy Ratios at BCP Stand-alone
Regulatory CapitalAs of% Change
(S/ thousand)
Sep 25Jun 26Sep 26QoQYoY
Capital Stock12,973,17512,973,17512,973,1750.0%0.0%
Reserves6,125,4526,126,8366,126,8360.0%0.0%
Accumulated earnings6,730,6316,695,1028,563,23027.9%27.2%
Loan loss reserves (1)
1,800,8681,978,3952,045,4753.4%13.6%
Subordinated Debt6,419,5008,866,0007,209,300-18.7%12.3%
Unrealized Profit or Losses(10,363)6,475(413,704)-6,489.4%3,891.9%
Investment in subsidiaries and others, net of unrealized profit and net income in subsidiaries(2,535,672)(2,731,362)(2,791,776)2.2%10.1%
Intangibles(1,624,042)(1,882,535)(1,998,801)6.2%23.1%
Goodwill(122,083)(122,083)(122,083)0.0%0.0%
Total Regulatory Capital29,757,46531,910,00231,591,651-1.0%6.2%
Tier 1 Common Equity (2)
21,537,09721,065,60722,336,8766.0%3.7%
Regulatory Tier 1 Capital (3)
21,537,09721,065,60722,336,8766.0%3.7%
Regulatory Tier 2 Capital (4)
8,220,36810,844,3959,254,775-14.7%12.6%
Total risk-weighted assetsAs of% Change
(S/ thousand)
Sep 25Jun 26Sep 26QoQYoY
Market risk-weighted assets5,329,0456,454,2706,709,3594.0%25.9%
Credit risk-weighted assets142,895,450157,205,076162,643,5673.5%13.8%
Operational risk-weighted assets19,751,03221,104,54821,697,6062.8%9.9%
Total167,975,527184,763,894191,050,5333.4%13.7%
Capital requirementAs of% Change
(S/ thousand)
Sep 25Jun 26Sep 26QoQYoY
Market risk capital requirement532,904645,427670,9364.0%25.9%
Credit risk capital requirement14,289,54515,720,50816,264,3573.5%13.8%
Operational risk capital requirement1,975,1032,110,4552,169,7612.8%9.9%
Additional capital requirements7,348,2829,075,9319,380,9543.4%27.7%
Total24,145,83527,552,32028,486,0073.4%18.0%
Capital Ratios under Local Regulation
Capital ratios under Local RegulationAs of% Change
Sep 25Jun 26Sep 26QoQYoY
Common Equity Tier 1 ratio12.82%11.40%11.69%29 bps-113 bps
Tier 1 Capital ratio12.82%11.40%11.69%29 bps-113 bps
Regulatory Global Capital ratio17.72%17.27%16.54%-73 bps-118 bps
[1]Up to 1.25% of total risk-weighted assets.
[2]Common Equity Tier 1 = Capital Stock + Reserves + Accumulated earnings – Unrealized profits or losses - 100% deductions (investment in subsidiaries, goodwill, intangible assets and deferred tax assets based on future returns).
[3]Regulatory Tier 1 Capital = Common Equity Tier 1 + Tier 1 Subordinated Debt (Perpetual).
[4]Regulatory Tier 2 Capital = Subordinated Debt + Loan loss reserves.
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Earnings Release 3Q / 2026
Analysis of 3Q26 Consolidated Results
12. Appendix
Regulatory Capital and Capital Adequacy Ratios at Mibanco
Regulatory CapitalAs of% Change
(S/ thousand)
Sep 25Jun 26Sep 26QoQYoY
Capital Stock1,840,6061,840,6061,840,6060.0%0.0%
Reserves365,847420,856420,8560.0%15.0%
Accumulated earnings394,428544,583623,22114.4%58.0%
Loan loss reserves (1)
158,725181,634193,5976.6%22.0%
Subordinated debt388,551483,217633,21731.0%63.0%
Unrealized Profit or Losses7,2943,870(5,478)-241.5%-175.1%
Investment in subsidiaries and others, net of unrealized profit and net income in subsidiaries(164)(208)(187)-10.1%14.3%
Intangibles(124,978)(143,742)(165,852)15.4%32.7%
Goodwill(139,180)(139,180)(139,180)0.0%0.0%
Total Regulatory Capital2,891,1293,191,6353,400,8006.6%17.6%
Tier Common Equity (2)
2,343,8532,526,7852,573,9861.9%9.8%
Regulatory Tier 1 Capital (3)
2,343,8532,526,7852,573,9861.9%9.8%
Regulatory Tier 2 Capital (4)
547,276664,851826,81424.4%51.1%
Total risk-weighted assetsAs of% Change
(S/ thousand)
Sep 25Jun 26Sep 26QoQYoY
Market risk-weighted assets221,008183,255230,56025.8%4.3%
Credit risk-weighted assets12,539,72914,341,67515,262,5686.4%21.7%
Operational risk-weighted assets922,672958,926980,1882.2%6.2%
Total13,683,41015,483,85716,473,3166.4%20.4%
Capital requirementAs of% Change
(S/ thousand)
Sep 25Jun 26Sep 26QoQYoY
Market risk capital requirement22,10118,32623,05625.8%4.3%
Credit risk capital requirement1,253,9731,434,1681,526,2576.4%21.7%
Operational risk capital requirement92,26795,89398,0192.2%6.2%
Additional capital requirements188,096215,125228,9396.4%21.7%
Total1,556,4371,763,5111,876,2716.4%20.5%
Capital Ratios under Local Regulation
Capital ratios under Local RegulationAs of% Change
Sep 25Jun 26Sep 26QoQYoY
Common Equity Tier 1 Ratio
17.13%16.32%15.63%-69 bps-150 bps
Tier 1 Capital ratio17.13%16.32%15.63%-69 bps-150 bps
Regulatory Global Capital Ratio21.13%20.61%20.64%3 bps-48 bps
[1]Up to 1.25% of total risk-weighted assets.
[2]Common Equity Tier 1 = Capital Stock + Reserves + Accumulated earnings – Unrealized profits or losses - 100% deductions (investment in subsidiaries, goodwill, intangible assets and deferred tax assets based on future returns).
[3]Regulatory Tier 1 Capital = Common Equity Tier 1 + Tier 1 Subordinated Debt (Perpetual).
[4]Regulatory Tier 2 Capital = Subordinated Debt + Loan loss reserves.
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Earnings Release 3Q / 2026
Analysis of 3Q26 Consolidated Results
12. Appendix
Common Equity Tier 1 IFRS
BCP Stand-alone
Common Equity Tier 1 IFRSAs of% Change
(S/ thousand)Sep 25Jun 26Sep 26QoQYoY
Capital and reserves18,586,38418,587,76818,587,7680.0%0.0%
Retained earnings7,524,0627,399,2219,206,52224.4%22.4%
Unrealized gains (losses)505,339435,898(47,698)-110.9%-109.4%
Goodwill and intangibles(1,806,698)(2,045,408)(2,161,232)5.7%19.6%
Investments in subsidiaries(2,585,795)(2,699,950)(2,743,947)1.6%6.1%
Total22,223,29221,677,52822,841,4145.4%2.8%
Adjusted RWAs IFRS168,714,799185,328,096191,562,6423.4%13.5%
Adjusted Credit RWAs IFRS143,634,722157,769,277163,155,6763.4%13.6%
Others25,080,07727,558,81828,406,9663.1%13.3%
CET1 ratio IFRS13.17%11.70%11.92%23 bps-125 bps
Mibanco
Common Equity Tier 1 IFRSAs of% Change
(S/ thousand)Sep 25Jun 26Sep 26QoQYoY
Capital and reserves2,734,5822,789,5912,789,5910.0%2.0%
Retained earnings(80,674)(16,167)43,428-368.6%-153.8%
Unrealized gains (losses)7,1005,086(1,932)-138.0%-127.2%
Goodwill and intangibles(296,196)(311,455)(333,126)7.0%12.5%
Investments in subsidiaries(171)(205)(198)-3.2%16.1%
Total2,364,6422,466,8522,497,7631.3%5.6%
Adjusted RWAs IFRS13,792,86915,513,01816,500,5066.4%19.6%
Adjusted Credit RWAs IFRS12,649,18814,370,83715,289,7586.4%20.9%
Others1,143,6801,142,1821,210,7486.0%5.9%
CET1 ratio IFRS17.14%15.90%15.14%-76 bps-201 bps
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Earnings Release 3Q / 2026
Analysis of 3Q26 Consolidated Results
12. Appendix
12.7. Financial Statements and Ratios by Business
12.7.1. Credicorp Consolidated
Consolidated Statement of Financial Position
(S/ Thousands, IFRS)
As of% Change
Sep 25Jun 26Sep 26QoQYoY
ASSETS
Cash and due from banks
Non-interest bearing
7,237,2958,017,6996,606,469-17.6%-8.7%
Interest bearing
35,862,18440,553,15333,981,593-16.2%-5.2%
Total cash and due from banks43,099,47948,570,85240,588,062-16.4%-5.8%
Cash collateral, reverse repurchase agreements and securities borrowing3,404,6391,185,9711,888,94059.3%-44.5%
Fair value through profit or loss investments4,356,3116,082,4178,977,10847.6%106.1%
Fair value through other comprehensive income investments38,005,52243,383,09040,750,608-6.1%7.2%
Amortized cost investments8,824,7468,964,5568,876,565-1.0%0.6%
Loans144,752,254159,434,397166,161,0424.2%14.8%
Current
139,798,951154,930,212161,617,4214.3%15.6%
Internal overdue loans
4,953,3034,504,1854,543,6210.9%-8.3%
Less - allowance for loan losses
(7,674,040)(7,575,313)(7,837,815)3.5%2.1%
Loans, net137,078,214151,859,084158,323,2274.3%15.5%
Financial assets designated at fair value through profit or loss956,8851,163,5771,221,4775.0%27.7%
Property, plant and equipment, net2,725,3022,598,3452,553,796-1.7%-6.3%
Due from customers on acceptances553,561581,699731,40025.7%32.1%
Investments in associates52,38859,97961,5352.6%17.5%
Intangible assets and goodwill, net4,596,3734,842,3774,946,3482.1%7.6%
Reinsurance contract assets853,974830,164772,446-7.0%-9.5%
Other assets (1)
10,673,23012,705,99916,934,28833.3%58.7%
Total Assets255,180,624282,828,110286,625,8001.3%12.3%
LIABILITIES AND EQUITY
Deposits and obligations
Non-interest bearing
46,588,00258,196,20354,074,734-7.1%16.1%
Interest bearing
111,842,453123,924,563126,944,1232.4%13.5%
Total deposits and obligations
158,430,455182,120,766181,018,857-0.6%14.3%
Payables from repurchase agreements and securities lending10,181,1738,376,4868,081,687-3.5%-20.6%
BCRP instruments
6,643,8924,043,9863,204,454-20.8%-51.8%
Repurchase agreements with third parties
3,401,6354,126,5484,710,85614.2%38.5%
Repurchase agreements with customers
135,646205,952166,377-19.2%22.7%
Due to banks and correspondents11,241,07911,755,25611,260,498-4.2%0.2%
Bonds and notes issued12,209,72414,789,01513,273,001-10.3%8.7%
Banker’s acceptances outstanding553,561581,699731,40025.7%32.1%
Insurance contract liability14,203,43914,996,10214,722,126-1.8%3.7%
Financial liabilities at fair value through profit or loss928,814937,8431,424,39551.9%53.4%
Other liabilities10,176,60610,469,09315,766,18150.6%54.9%
Total Liabilities217,924,851244,026,260246,278,1450.9%13.0%
Net equity36,560,50238,121,92439,629,2604.0%8.4%
Capital stock1,318,9931,318,9931,318,9930.0%0.0%
Treasury stock(209,845)(209,106)(209,106)0.0%-0.4%
Capital surplus139,52886,14684,273-2.2%-39.6%
Reserves29,628,42732,540,11832,577,1400.1%10.0%
Other reserves353,144301,385(155,575)-151.6%-144.1%
Retained earnings5,330,2554,084,3886,013,53547.2%12.8%
Non-controlling interest695,271679,926718,3955.7%3.3%
Total Net Equity37,255,77338,801,85040,347,6554.0%8.3%
Total liabilities and equity255,180,624282,828,110286,625,8001.3%12.3%
Off-balance sheet153,289,772162,878,675156,142,484-4.1%1.9%
Total performance bonds, stand-by and L/Cs.21,007,56820,624,21820,868,7861.2%-0.7%
Undrawn credit lines, advised but not committed78,586,54790,507,62781,516,666-9.9%3.7%
Total derivatives (notional) and others53,695,65751,746,83053,757,0323.9%0.1%
(1)Includes mainly accounts receivables from brokerage and others
*Due to reclassifications, the Balance Sheet may differ from those reported in previous quarters.
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Earnings Release 3Q / 2026
Analysis of 3Q26 Consolidated Results
12. Appendix
Consolidated Statement of Income
(S/ Thousands, IFRS)
Quarter% ChangeUp to% Change
3Q252Q263Q26QoQYoYSep 25Sep 26Sep 26 / Sep 25
Interest income and expense
Interest and similar income4,987,6935,413,8855,717,6875.6%14.6%14,804,77516,343,98410.4%
Interest and similar expenses(1,299,864)(1,316,934)(1,376,563)4.5%5.9%(3,929,563)(3,943,182)0.3%
Net interest, similar income and expenses3,687,8294,096,9514,341,1246.0%17.7%10,875,21212,400,80214.0%
Provision for credit losses on loan portfolio(720,445)(854,827)(982,850)15.0%36.4%(2,100,143)(2,449,688)16.6%
Recoveries of written-off loans117,527123,619154,71425.2%31.6%340,173408,25620.0%
Provision for credit losses on loan portfolio, net of recoveries(602,918)(731,208)(828,136)13.3%37.4%(1,759,970)(2,041,432)16.0%
Net interest, similar income and expenses, after provision for credit losses on loan portfolio3,084,9113,365,7433,512,9884.4%13.9%9,115,24210,359,37013.6%
Other income
Fee income1,063,0321,187,6081,280,0047.8%20.4%3,081,6093,616,89617.4%
Net gain on foreign exchange transactions394,572489,479451,089-7.8%14.3%1,115,4021,389,45224.6%
Net gain (loss) on securities111,977248,84457,377-76.9%-48.8%263,002441,85868.0%
Net gain from associates5,1926,1566,125-0.5%18.0%35,81621,577-39.8%
Net gain (loss) on derivatives held for trading244(14,697)51,031-447.2%20,814.3%40,16163,79758.9%
Net gain (loss) from exchange differences7,51844,16016,263-63.2%116.3%33,67268,980104.9%
Others71,65680,65229,790-63.1%-58.4%452,118187,645-58.5%
Total other income1,654,1912,042,2021,891,679-7.4%14.4%5,021,7805,790,20515.3%
Insurance underwriting result
Insurance Service Result467,467429,944425,968-0.9%-8.9%1,328,7251,201,758-9.6%
Reinsurance Result(79,117)(141,930)(63,645)-55.2%-19.6%-260,368-252,358-3.1%
Total insurance underwriting result388,350288,014362,32325.8%-6.7%1,068,357949,400-11.1%
Medical services result
Sales of medical services421,360440,364449,7072.1%6.7%973,2271,314,63635.1%
Cost of sales of medical services(297,407)(306,925)(313,320)2.1%5.4%(683,266)(920,972)34.8%
Total medical services result123,953133,439136,3872.2%10.0%289,961393,66435.8%
Total Expenses
Salaries and employee benefits(1,341,137)(1,475,704)(1,548,820)5.0%15.5%(4,007,293)(4,483,945)11.9%
Administrative, general and tax expenses(1,068,459)(1,114,932)(1,207,786)8.3%13.0%(2,904,287)(3,384,384)16.5%
Depreciation and amortization(219,800)(235,204)(240,861)2.4%9.6%(636,228)(717,433)12.8%
Impairment loss on goodwill—————
Association in participation(65)(155)(124)-20.0%90.8%(7,235)(452)-93.8%
Other expenses(115,181)(163,467)(110,989)-32.1%-3.6%(352,783)(352,659)—%
Total expenses(2,744,642)(2,989,462)(3,108,580)4.0%13.3%-7,907,826-8,938,87313.0%
Profit before income tax2,506,7632,839,9362,794,797-1.6%11.5%7,587,5148,553,76612.7%
Income tax(728,308)(814,357)(820,898)0.8%12.7%(2,129,746)(2,444,146)14.8%
Net profit1,778,4552,025,5791,973,899-2.6%11.0%5,457,7686,109,62011.9%
Non-controlling interest39,80043,65744,4881.9%11.8%119,401135,10313.2%
Net profit attributable to Credicorp1,738,6551,981,9221,929,411-2.6%11.0%5,338,3675,974,51711.9%
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Earnings Release 3Q / 2026
Analysis of 3Q26 Consolidated Results
12. Appendix
12.7.2. Credicorp Stand-alone
Statement of Financial Position
(S/ Thousands, IFRS)
As of% Change
Sep 25Jun 26Sep 26QoQYoY
ASSETS
Cash and cash equivalents121,123103,66489,345-13.8%-26.2%
At fair value through profit or loss---n.a.n.a.
Fair value through other comprehensive income investments101,222102,521152,06548.3%50.2%
In subsidiaries and associates investments40,527,58342,353,23743,883,4303.6%8.3%
Investments at amortized cost---n.a.n.a.
Other assets9,62610,3047,057-31.5%-26.7%
Total Assets40,759,55442,569,72644,131,8973.7%8.3%
LIABILITIES AND NET SHAREHOLDERS’ EQUITY
Due to banks, correspondents and other entities---n.a.n.a.
Bonds and notes issued---n.a.n.a.
Other liabilities211,103206,504274,21932.8%29.9%
Total Liabilities211,103206,504274,21932.8%29.9%
NET EQUITY
Capital stock1,318,9931,318,9931,318,9930.0%0.0%
Capital Surplus384,542384,542384,5420.0%0.0%
Reserve28,438,90430,611,12330,611,0500.0%7.6%
Unrealized results51,015101,416(356,032)n.a.n.a.
Retained earnings10,354,9979,947,14811,899,12519.6%14.9%
Total net equity40,548,45142,363,22243,857,6783.5%8.2%
Total Liabilities And Equity40,759,55442,569,72644,131,8973.7%8.3%
Statement of Income
(S/ Thousands, IFRS)
Quarter% ChangeUp to% Change
3Q252Q263Q26QoQYoYSep 25Sep 26Sep 26 / Sep 25
Interest income
Net share of the income from investments in subsidiaries and associates1,820,4162,848,9372,016,961-29.2%10.8%5,971,1107,024,82917.6%
Interest and similar income3004,403292-93.4%-2.7%40,8935,482-86.6%
Net gain on financial assets at fair value through profit or loss---n.a.n.a.--n.a.
Total income1,820,7162,853,3402,017,253-29.3%10.8%6,012,0037,030,31116.9%
Interest and similar expense(8)-5n.a.-162.5%(24,525)5n.a.
Administrative and general expenses(4,535)(7,404)(4,825)-34.8%6.4%(14,704)(16,071)9.3%
Total expenses(4,543)(7,404)(4,820)-34.9%6.1%(39,229)(16,066)-59.0%
Operating income1,816,1732,845,9362,012,433-29.3%10.8%5,972,7747,014,24517.4%
Results from exchange differences67(3,868)28-100.7%-58.2%(3,336)(3,472)4.1%
Other, net93(9)(12)33.3%-112.9%(323)(479)48.3%
Profit before income tax1,816,3332,842,0592,012,449-29.2%10.8%5,969,1157,010,29417.4%
Income tax(60,945)(74,722)(67,939)-9.1%11.5%(158,326)(209,026)32.0%
Net income1,755,3882,767,3371,944,510-29.7%10.8%5,810,7896,801,26817.0%
Double Leverage Ratio99.9%100.0%100.1%8 bps11 bps99.9%100.1%11 bps
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Earnings Release 3Q / 2026
Analysis of 3Q26 Consolidated Results
12. Appendix
12.7.3. BCP Consolidated
Consolidated Statement of Financial Position
(S/ Thousands, IFRS)
As of% Change
Sep 25Jun 26Sep 26QoQYoY
ASSETS
Cash and due from banks
Non-interest bearing5,571,2986,333,2465,166,468-18.4%-7.3%
Interest bearing33,968,80238,532,09132,035,195-16.9%-5.7%
Total cash and due from banks39,540,10044,865,33737,201,663-17.1%-5.9%
Cash collateral, reverse repurchase agreements and securities borrowing1,211,354688,7471,162,41768.8%-4.0%
Fair value through profit or loss investments368,478671,7283,714,136n.a.n.a.
Fair value through other comprehensive income investments21,868,30525,698,69123,538,299-8.4%7.6%
Amortized cost investments8,124,7858,415,5788,370,300-0.5%3.0%
Loans135,408,707148,016,682155,469,7475.0%14.8%
Current130,730,717143,838,433151,234,7945.1%15.7%
Internal overdue loans4,677,9904,178,2494,234,9531.4%-9.5%
Less - allowance for loan losses(7,284,860)(7,099,026)(7,404,291)4.3%1.6%
Loans, net128,123,847140,917,656148,065,4565.1%15.6%
Property, furniture and equipment, net (1)
1,558,8421,523,3381,492,983-2.0%-4.2%
Due from customers on acceptances553,851581,699731,40025.7%32.1%
Investments in associates25,66034,12834,8152.0%35.7%
Other assets (2)
8,135,12610,389,46614,112,99735.8%73.5%
Total Assets209,510,348233,786,368238,424,4662.0%13.8%
Liabilities and Equity
Deposits and obligations
Non-interest bearing42,835,24155,615,16751,775,372-6.9%20.9%
Interest bearing104,254,936114,559,259118,703,5043.6%13.9%
Total deposits and obligations147,090,177170,174,426170,478,8760.2%15.9%
Payables from repurchase agreements and securities lending7,347,0335,734,7505,806,5111.3%-21.0%
BCRP instruments6,642,7804,037,9363,203,880-20.7%-51.8%
Repurchase agreements with third parties704,2531,696,8142,602,63153.4%269.6%
Due to banks and correspondents10,529,29210,864,18310,411,422-4.2%-1.1%
Bonds and notes issued10,114,71412,082,16210,456,203-13.5%3.4%
Banker’s acceptances outstanding553,851581,699731,40025.7%32.1%
Financial liabilities at fair value through profit or loss455,454604,407875,17844.8%92.2%
Other liabilities (3)
6,665,4487,177,41611,770,66764.0%76.6%
Total Liabilities182,755,969207,219,043210,530,2571.6%15.2%
Net equity26,610,82326,417,99827,742,2795.0%4.3%
Capital stock
12,679,79412,679,79412,679,7940.0%0.0%
Reserves5,906,5905,907,9745,907,9740.0%0.0%
Unrealized gains and losses
507,687435,541(47,596)-110.9%-109.4%
Retained earnings
7,516,7527,394,6899,202,10724.4%22.4%
Non-controlling interest143,556149,327151,9301.7%5.8%
Total Net Equity26,754,37926,567,32527,894,2095.0%4.3%
Total liabilities and equity209,510,348233,786,368238,424,4662.0%13.8%
Off-balance sheet146,718,825150,106,967147,290,400-1.9%0.4%
Total performance bonds, stand-by and L/Cs.20,740,42920,280,74320,665,3291.9%-0.4%
Undrawn credit lines, advised but not committed72,873,06378,605,20973,569,033-6.4%1.0%
Total derivatives (notional) and others53,105,33351,221,01553,056,0383.6%-0.1%
(1)Right of use asset of lease contracts is included by application of IFRS 16.
(2)Mainly includes intangible assets, other receivable accounts, trading derivatives receivable accounts and tax credit.
(3)Mainly includes other payable accounts, trading derivatives payable accounts and taxes for payable.
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Earnings Release 3Q / 2026
Analysis of 3Q26 Consolidated Results
12. Appendix
Banco de Credito del Peru
Consolidated Statement of Income
(S/ Thousands, IFRS)
Quarter % ChangeUp to% Change
3Q252Q263Q26QoQYoYSep 25Sep 26Sep 26 / Sep 25
Interest income and expense
Interest and similar income4,359,0984,704,0694,944,8785.1%13.4%12,929,40514,143,5899.4%
Interest and similar expense (1)
(930,847)(902,791)(934,336)3.5%0.4%(2,859,195)(2,703,030)-5.5%
Interest income and expense3,428,2513,801,2784,010,5425.5%17.0%10,070,21011,440,55913.6%
Provision for credit losses on loan portfolio(675,251)(776,343)(914,118)17.7%35.4%(1,958,121)(2,229,208)13.8%
Recoveries of written-off loans113,472115,665147,64927.7%30.1%327,474389,08218.8%
Provision for credit losses on loan portfolio, net of recoveries(561,779)(660,678)(766,469)16.0%36.4%(1,630,647)(1,840,126)12.8%
Net interest, similar income and expenses, after provision for credit losses on loan portfolio2,866,4723,140,6003,244,0733.3%13.2%8,439,5639,600,43313.8%
Other income
Fee income902,0821,009,8781,107,3709.7%22.8%2,644,0373,113,95317.8%
Net gain on foreign exchange transactions349,768419,458406,958-3.0%16.4%1,004,8441,215,78821.0%
Net gain (loss) on securities2,68311,3497,932-30.1%195.6%135,17089,542-33.8%
Net gain on derivatives held for trading33,17862,25513,641-78.1%-58.9%78,02097,17624.6%
Net loss (gain) from exchange differences(1,064)13,6923,210-76.6%-401.7%7,26129,287303.3%
Others28,77428,40814,861-47.7%-48.4%83,17362,707-24.6%
Total other income1,315,4211,545,0401,553,9720.6%18.1%3,952,5054,608,45316.6%
Total expenses
Salaries and employee benefits(958,832)(1,070,222)(1,110,298)3.7%15.8%(2,890,077)(3,231,501)11.8%
Administrative expenses(805,053)(849,887)(918,913)8.1%14.1%(2,166,648)(2,552,020)17.8%
Depreciation and amortization (2)
(181,978)(188,401)(196,002)4.0%7.7%(526,134)(575,977)9.5%
Other expenses(55,223)(103,916)(84,352)-18.8%52.7%(165,841)(249,470)50.4%
Total expenses(2,001,086)(2,212,426)(2,309,565)4.4%15.4%(5,748,700)(6,608,968)15.0%
Profit before income tax2,180,8072,473,2142,488,4800.6%14.1%6,643,3687,599,91814.4%
Income tax(577,612)(654,887)(657,401)0.4%13.8%(1,703,419)(1,988,377)16.7%
Net profit1,603,1951,818,3271,831,0790.7%14.2%4,939,9495,611,54113.6%
Non-controlling interest(6,114)(7,782)(7,051)-9.4%15.3%(15,970)(22,286)39.5%
Net profit attributable to BCP Consolidated1,597,0811,810,5451,824,0280.7%14.2%4,923,9795,589,25513.5%
(1)Financing expenses related to lease agreements are included according to the application of IFRS 16.
(2)The effect of the application of IFRS 16 is included, which corresponds to a greater depreciation for the asset for right-of-use”.
Selected Financial Indicators
Quarter
ChangeUp toChange
3Q252Q263Q26QoQYoYSep 25Sep 26Sep 26 / Sep 25
Profitability
ROAA (1)(2)
3.1%3.1%3.1%-4 bps0 bps3.1%3.2%12 bps
ROAE (1)(2)
24.9%28.5%26.9%-158 bps209 bps25.0%26.6%164 bps
Net interest margin (1)(2)
6.89%6.90%7.19%28 bps30 bps6.46%7.02%55 bps
Risk-adjusted Net interest margin (1)(2)
5.76%5.70%5.81%11 bps5 bps5.42%5.89%47 bps
Funding cost (1)(2)(3)
2.14%1.86%1.88%3 bps-25 bps2.16%1.88%-27 bps
Loan portfolio quality
Internal overdue ratio
3.5%2.8%2.7%-10 bps-73 bps3.5%2.7%-73 bps
NPL ratio
4.9%4.0%3.8%-20 bps-102 bps4.9%3.8%-102 bps
Coverage ratio of IOLs
155.7%169.9%174.8%493 bps1911 bps155.7%174.8%1911 bps
Coverage ratio of NPLs
110.9%118.9%124.2%530 bps1332 bps110.9%124.2%1332 bps
Cost of risk (4)
1.7%1.8%2.0%19 bps35 bps1.6%1.7%4 bps
Operating efficiency
Operating expenses / Total income (5)
41.3%39.7%40.2%42 bps-114 bps40.4%40.0%-44 bps
Operating expenses / Total average assets (1)(2)(5)
3.8%3.6%3.8%12 bps1 bps3.5%3.7%15 bps
(1)Ratios are annualized.
(2)Averages are determined as the average of period-beginning and period-ending balances.
(3)The funding costs differs from previously reported due to a methodology change in the denominator, which no longer includes the following accounts: acceptances outstanding, reserves for property and casualty claims, reserve for unearned premiums, reinsurance payable and other liabilities.
(4)Cost of risk: Annualized provision for loan losses / Average Total loans.
(5)Total income includes net interest income, fee income, net gain on foreign exchange transactions, result on exchange difference and net gain on derivatives. Operating expenses includes Salaries and social benefits, administrative, general and tax expenses and depreciation and amortization.
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Earnings Release 3Q / 2026
Analysis of 3Q26 Consolidated Results
12. Appendix
12.7.4. BCP Stand-alone
Banco de Credito del Peru
Statement of Financial Position
(S/ Thousands, IFRS)
As of% Change
Sep 25Jun 26Sep 26QoQYoY
ASSETS
Cash and due from banks
Non-interest bearing4,968,9235,723,7614,487,412-21.6%-9.7%
Interest bearing32,541,80337,486,29030,947,256-17.4%-4.9%
Total cash and due from banks37,510,72643,210,05135,434,668-18.0%-5.5%
Cash collateral, reverse repurchase agreements and securities borrowing1,211,354688,7471,162,41768.8%-4.0%
Fair value through profit or loss investments368,478671,7283,714,136n.a.n.a.
Fair value through other comprehensive income investments19,479,61823,015,30720,723,988-10.0%6.4%
Amortized cost investments8,025,1968,293,8378,162,450-1.6%1.7%
Loans123,089,317134,206,650141,044,4235.1%14.6%
Current119,030,125130,594,244137,396,2145.2%15.4%
Internal overdue loans4,059,1923,612,4063,648,2091.0%-10.1%
Less - allowance for loan losses(6,378,494)(6,084,399)(6,284,951)3.3%-1.5%
Loans, net116,710,823128,122,251134,759,4725.2%15.5%
Property, furniture and equipment, net (1)
1,358,6081,345,4621,317,004-2.1%-3.1%
Due from customers on acceptances553,851581,699731,40025.7%32.1%
Investments in associates2,601,9732,721,3682,767,2361.7%6.4%
Other assets (2)
7,555,4279,684,45013,404,78338.4%77.4%
Total Assets195,376,054218,334,900222,177,5541.8%13.7%
Liabilities and Equity
Deposits and obligations
Non-interest bearing42,813,34055,589,24251,746,689-6.9%20.9%
Interest bearing93,468,558103,225,868106,927,6593.6%14.4%
Total deposits and obligations136,281,898158,815,110158,674,348-0.1%16.4%
Payables from repurchase agreements and securities lending6,850,8504,967,1764,916,063-1.0%-28.2%
BCRP instruments6,146,5973,270,3622,313,432-29.3%-62.4%
Repurchase agreements with third parties704,2531,696,8142,602,63153.4%269.6%
Due to banks and correspondents8,904,0339,160,5868,736,009-4.6%-1.9%
Bonds and notes issued9,508,03011,171,9349,371,160-16.1%-1.4%
Due from customers on acceptances553,851581,699731,40025.7%32.1%
Financial liabilities at fair value through profit or loss455,454604,407875,17844.8%92.2%
Other liabilities (3)
6,206,1536,611,10111,126,80468.3%79.3%
Total Liabilities168,760,269191,912,013194,430,9621.3%15.2%
Net equity26,615,78526,422,88727,746,5925.0%4.2%
Capital stock12,679,79412,679,79412,679,7940.0%0.0%
Reserves5,906,5905,907,9745,907,9740.0%0.0%
Unrealized gains and losses505,339435,898(47,698)-110.9%-109.4%
Retained earnings7,524,0627,399,2219,206,52224.4%22.4%
Total Net Equity26,615,78526,422,88727,746,5925.0%4.2%
Total liabilities and equity195,376,054218,334,900222,177,5541.8%13.7%
Off-balance sheet143,063,117145,192,871141,463,919-2.6%-1.1%
Total performance bonds, stand-by and L/Cs.20,740,42920,280,74320,665,3291.9%-0.4%
Undrawn credit lines, advised but not committed69,365,42273,700,93368,047,931-7.7%-1.9%
Total derivatives (notional) and others52,957,26651,211,19552,750,6593.0%-0.4%
(1)Right of use asset of lease contracts is included by application of IFRS 16.
(2)Mainly includes intangible assets, other receivable accounts, trading derivatives receivable accounts and tax credit
(3)Mainly includes other payable accounts, trading derivatives payable accounts and taxes for payable.
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Earnings Release 3Q / 2026
Analysis of 3Q26 Consolidated Results
12. Appendix
Banco de Credito del Peru
Statement of Income
(S/ Thousands, IFRS)
Quarter
% ChangeUp to% Change
3Q252Q263Q26QoQYoYSep 25Sep 26Sep 26 / Sep 25
Interest income and expense
Interest and similar income3,570,9173,833,8004,037,7045.3%13.1%10,625,13111,526,6728.5%
Interest and similar expenses (1)
(776,188)(740,772)(763,286)3.0%-1.7%(2,374,392)(2,209,669)-6.9%
Interest income and expense2,794,7293,093,0283,274,4185.9%17.2%8,250,7399,317,00312.9%
Provision for credit losses on loan portfolio(484,000)(568,414)(672,441)18.3%38.9%(1,392,022)(1,593,432)14.5%
Recoveries of written-off loans89,80293,012125,68235.1%40.0%255,899323,10526.3%
Provision for credit losses on loan portfolio, net of recoveries(394,198)(475,402)(546,759)15.0%38.7%(1,136,123)(1,270,327)11.8%
Net interest, similar income and expenses, after provision for credit losses on loan portfolio2,400,5312,617,6262,727,6594.2%13.6%7,114,6168,046,67613.1%
Other income
Fee income873,187970,3311,070,48310.3%22.6%2,558,3343,002,36017.4%
Net gain on foreign exchange transactions347,104415,666403,568-2.9%16.3%997,8741,205,48920.8%
Net gain on securities117,414155,819138,988-10.8%18.4%433,302496,29814.5%
Net gain (loss) from associates1,1372,6262,444-6.9%115.0%3,9988,626115.8%
Net gain on derivatives held for trading36,28965,02712,350-81.0%-66.0%85,98689,0463.6%
Net loss (gain) from exchange differences(4,779)9,4864,066-57.1%-185.1%(1,608)32,234n.a.
Others27,93328,74013,644-52.5%-51.2%79,08159,918-24.2%
Total other income1,398,2851,647,6951,645,543-0.1%17.7%4,156,9674,893,97117.7%
Total expenses
Salaries and employee benefits(728,954)(830,345)(859,010)3.5%17.8%(2,196,784)(2,506,850)14.1%
Administrative expenses(729,297)(760,449)(830,933)9.3%13.9%(1,947,733)(2,278,131)17.0%
Depreciation and amortization (2)
(158,769)(165,501)(173,402)4.8%9.2%(456,581)(507,504)11.2%
Other expenses(49,126)(96,107)(75,433)-21.5%53.6%(149,070)(223,444)49.9%
Total expenses(1,666,146)(1,852,402)(1,938,778)4.7%16.4%(4,750,168)(5,515,929)16.1%
Profit before income tax2,132,6702,412,9192,434,4240.9%14.1%6,521,4157,424,71813.9%
Income tax(535,124)(600,161)(610,514)1.7%14.1%(1,595,713)(1,837,263)15.1%
Net profit1,597,5461,812,7581,823,9100.6%14.2%4,925,7025,587,45513.4%
Non-controlling interest
Net profit attributable to BCP1,597,5461,812,7581,823,9100.6%14.2%4,925,7025,587,45513.4%
(1)Financing expenses related to lease agreements are included according to the application of IFRS 16.
(2)The effect of the application of IFRS 16 is included, which corresponds to a greater depreciation for the asset for right-of-use”.
Selected Financial Indicators
Quarter
% ChangeUp to% Change
3Q252Q263Q26QoQYoYSep 25Sep 26Sep 26/Sep 25
Profitability
ROAA (1)(2)
3.3%3.4%3.3%-4 bps0 bps3.3%3.5%15 bps
ROAE (1)(2)
24.9%28.6%26.9%-162 bps208 bps25.0%26.6%163 bps
Net interest margin (1)(2)
6.11%6.13%6.39%26 bps28 bps5.90%6.22%32 bps
Risk-adjusted Net interest margin (1)(2)
5.25%5.18%5.32%14 bps7 bps5.09%5.37%28 bps
Funding cost (1)(2)(3)
1.93%1.64%1.67%2 bps-26 bps1.93%1.67%-26 bps
Loan portfolio quality
Internal overdue ratio
3.3%2.7%2.6%-11 bps-71 bps3.3%2.6%-71 bps
NPL ratio
4.7%3.9%3.7%-22 bps-103 bps4.7%3.7%-103 bps
Coverage ratio of IOLs
157.1%168.4%172.3%384 bps1514 bps157.1%172.3%1514 bps
Coverage ratio of NPLs
109.6%115.8%120.7%489 bps1105 bps109.6%120.7%1105 bps
Cost of risk (4)
1.3%1.4%1.6%14 bps30 bps1.2%1.3%3 bps
Operating efficiency
Operating expenses / Total income (5)
39.9%38.5%39.1%54 bps-86 bps38.7%38.8%8 bps
Operating expenses / Total average assets (1)(2)(5)
3.3%3.2%3.4%13 bps4 bps3.1%3.3%18 bps
(1)Ratios are annualized.
(2)Averages are determined as the average of period-beginning and period-ending balances.
(3)The funding costs differs from previously reported due to a methodology change in the denominator, which no longer includes the following accounts: acceptances outstanding, reserves for property and casualty claims, reserve for unearned premiums, reinsurance payable and other liabilities.
(4)Cost of risk: Annualized provision for loan losses / Average total loans.
(5)Total income includes net interest income, fee income, net gain on foreign exchange transactions, result on exchange difference and net gain on derivatives. Operating expenses includes Salaries and social benefits, administrative, general and tax expenses and depreciation and amortization.
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Earnings Release 3Q / 2026
Analysis of 3Q26 Consolidated Results
12. Appendix
12.7.5. BCP Bolivia 
BCP BOLIVIA
(In S/ Thousands, IFRS)
As of
% Change
Sep 25Jun 26Sep 26QoQYoY
ASSETS
Cash and due from banks1,680,8671,447,6501,332,576-7.9%-20.7%
Investments892,9621,303,6051,278,175-2.0%43.1%
Loans5,505,4426,583,7255,368,072-18.5%-2.5%
Current5,304,7976,339,3565,124,006-19.2%-3.4%
Internal overdue loans140,924170,300124,712-26.8%-11.5%
Refinanced loans59,72174,069119,35461.1%99.9%
Less - allowance for loan losses(190,124)(224,601)(159,879)-28.8%-15.9%
Loans, net5,315,3186,359,1255,208,193-18.1%-2.0%
Property, furniture and equipment, net69,39779,68563,200-20.7%-8.9%
Other assets184,907245,292217,647-11.3%17.7%
Total assets8,143,4519,435,3578,099,791-14.2%-0.5%
LIABILITIES AND NET SHAREHOLDERS’ EQUITY
Deposits and obligations6,934,2038,181,1667,048,908-13.8%1.7%
Due to banks and correspondents---n.a.n.a.
Bonds and subordinated debt109,107125,93397,571-22.5%-10.6%
Other liabilities432,084354,649291,261-17.9%-32.6%
Total liabilities
7,475,3948,661,7487,437,740-14.1%-0.5%
Net equity668,057773,609662,051-14.4%-0.9%
TOTAL LIABILITIES AND NET EQUITY8,143,4519,435,3578,099,791-14.2%-0.5%
Statement of Income
(S/ Thousands, IFRS)
Quarter
% ChangeUp to% Change
3Q252Q263Q26QoQYoYSep 25Sep 26Sep 26 / Sep 25
Interests income, net47,79662,44068,79710.2%43.9%160,845192,96320.0%
Provisions for doubtful accounts receivable, net of recoveries3,686(16,262)63-100.4%-98.3%(13,099)(30,137)130.1%
Net interest income after provisions51,48246,17868,86049.1%33.8%147,746162,82610.2%
Non financial income47,80475,55720,415-73.0%-57.3%139,557163,47817.1%
Total expenses(72,016)(76,004)(64,328)-15.4%-10.7%(210,615)(201,618)-4.3%
Translation result2,53720,5559,297-54.8%266.5%9,23931,067236.3%
Income tax(7,147)(13,699)(6,956)-49.2%-2.7%(24,810)(31,310)26.2%
Net profit22,66052,58727,288-48.1%20.4%61,117124,443103.6%
Selected Financial Indicators
QuarterChangeUp to% Change
3Q252Q263Q26QoQYoYSep 25Sep 26Sep 26 / Sep 25
Efficiency ratio59.0%57.1%67.4%1027 bps835 bps65.5%62.8%-273 bps
ROAE14.8%25.8%15.2%-1059 bps36 bps9.7%21.7%1196 bps
L/D ratio79.4%80.5%76.2%-435 bps-324 bps79.4%76.2%-324 bps
IOL ratio2.6%2.6%2.3%-28 bps-24 bps2.6%2.3%-24 bps
NPL ratio3.6%3.7%4.5%85 bps90 bps3.6%4.5%90 bps
Coverage of IOLs134.9%131.9%128.2%-370 bps-671 bps134.9%128.2%-671 bps
Coverage of NPLs94.8%91.9%65.5%-2639 bps-2925 bps94.8%65.5%-2925 bps
Branches46464600
Agentes2,2272,5692,742173515
ATMs313316315-12
Employees1,9082,0072,09588187
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Earnings Release 3Q / 2026
Analysis of 3Q26 Consolidated Results
12. Appendix
12.7.6. Mibanco
MIBANCO
(In S/ Thousands, IFRS)
As of
% Change 
Sep 25Jun 26Sep 26QoQYoY
ASSETS
Cash and due from banks2,109,3021,811,1371,870,7953.3%-11.3%
Investments2,488,2772,805,1253,022,1617.7%21.5%
Total loans13,095,85614,698,11215,543,7055.8%18.7%
Current12,349,78213,986,96614,794,8625.8%19.8%
Internal overdue loans614,819562,944583,6513.7%-5.1%
Refinanced131,255148,202165,19211.5%25.9%
Allowance for loan losses(902,499)(1,011,547)(1,117,121)10.4%23.8%
Net loans12,193,35713,686,56514,426,5845.4%18.3%
Property, plant and equipment, net124,994118,172119,9841.5%-4.0%
Other assets636,681748,339815,6859.0%28.1%
Total assets17,552,61119,169,33820,255,2095.7%15.4%
LIABILITIES AND NET SHAREHOLDERS’ EQUITY
Deposits and obligations10,897,83511,444,41111,908,9044.1%9.3%
Due to banks and correspondents2,418,6672,687,4152,807,6514.5%16.1%
Bonds and subordinated debt606,683910,2281,085,04319.2%78.8%
Other liabilities968,4181,348,7731,622,52320.3%67.5%
Total liabilities14,891,60316,390,82717,424,1216.3%17.0%
Net equity2,661,0082,778,5112,831,0881.9%6.4%
TOTAL LIABILITIES AND NET SHAREHOLDERS’ EQUITY17,552,61119,169,33820,255,2095.7%15.4%
Statement of Income
(S/ Thousands, IFRS)
Quarter% ChangeUp to% Change
3Q252Q263Q26QoQYoYSep 25Sep 26Sep 26 /Sep 25
Net interest income632,469707,035734,8683.9%16.2%1,816,4002,119,83616.7%
Provision for loan losses, net of recoveries(167,975)(184,269)(220,577)19.7%31.3%(495,928)(571,818)15.3%
Net interest income after provisions464,494522,766514,291-1.6%10.7%1,320,4721,548,01817.2%
Non-financial income34,83446,31148,7305.2%39.9%105,141143,55636.5%
Total expenses(335,075)(359,856)(375,890)4.5%12.2%(998,811)(1,097,770)9.9%
Translation result54277132-52.3%144.4%-774610-178.8%
Income taxes(42,430)(54,716)(46,897)-14.3%10.5%-107,222-150,96140.8%
Net income121,877154,782140,366-9.3%15.2%318,806443,45339.1%
Selected Financial Indicators
Quarter
 % ChangeUp to% Change
3Q252Q263Q26QoQYoYSep 25Sep 26Sep 26 /Sep 25
Efficiency ratio49.4%46.8%46.9%11 bps-255 bps51.4%47.6%-379 bps
ROAE18.8%22.9%20.0%-292 bps125 bps16.0%21.0%504 bps
ROAE incl. Goodwill17.8%21.8%19.1%-274 bps126 bps15.1%20.0%484 bps
L/D ratio120.2%128.4%130.5%209 bps1035 bps
IOL ratio4.7%3.8%3.8%-8 bps-94 bps
NPL ratio5.7%4.8%4.8%-2 bps-88 bps
Coverage of IOLs146.8%179.7%191.4%1171 bps4461 bps
Coverage of NPLs121.0%142.2%149.2%694 bps2821 bps
Branches (1)
282282282--
Employees9,5699,5459,65110682
(1)Includes Banco de la Nacion branches.
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Earnings Release 3Q / 2026
Analysis of 3Q26 Consolidated Results
12. Appendix
12.7.7. Prima AFP
Prima AFP
Statement of Financial Position
(In S/ Thousands, IFRS)
As of % Change
Sep 25Jun 26Sep 26QoQYoY
Cash and due from banks52,64463,55417,429-72.6%-66.9%
Non-interest bearing3,5952,5021,411-43.6%-60.8%
Interest bearing49,04961,05216,018-73.8%-67.3%
Fair value through profit or loss investments371,402347,054426,20322.8%14.8%
Fair value through other comprehensive income investments1,7291,3691,4818.2%-14.3%
Property, plant and equipment, net
6,0844,8234,315-10.5%-29.1%
Other Assets
214,975211,996215,4071.6%0.2%
Total Assets646,834628,796664,8355.7%2.8%
Due to banks and correspondents4615150.0%275.0%
Lease payable2,8861,9231,459-24.1%-49.4%
Other liabilities165,759214,060220,7813.1%33.2%
Total Liabilities168,649215,989222,2552.9%31.8%
Capital stock40,50540,50540,5050.0%0.0%
Reserves20,24320,24320,2430.0%0.0%
Other reserves9091,338                     - -100.0%-100.0%
Retained earnings304,309257,992259,2950.5%-14.8%
Net Income for the Period112,21992,729122,53732.1%9.2%
Total Liabilities and Equity646,834628,796664,8355.7%2.8%
Statement in Income
(In S/ Thousands, IFRS)
Quarter% ChangeUp to% Change
3Q252Q263Q26QoQYoYSep 25Sep 26Sep 26 / Sep 25
Financial income432742502-32.3%16.2%2,4702,445-1.0%
Financial expenses(910)(649)(638)-1.7%-29.9%(1,881)(2,259)20.1%
Interest income, net(478)93(136)-246.2%-71.5%589186-68.4%
Fee income95,00694,90193,532-1.4%-1.6%286,311279,628-2.3%
Net gain (loss) on securities19,53230,026(1,345)-104.5%-106.9%20,77044,329113.4%
Net gain (loss) from exchange differences22611369-38.9%-69.5%67869-89.8%
Other income1,1102,6301,021-61.2%-8.0%1,7794,324143.1%
Salaries and employee benefits(23,947)(23,627)(23,576)-0.2%-1.5%(72,256)(72,033)-0.3%
Administrative expenses(18,686)(17,633)(19,082)8.2%2.1%(58,469)(56,877)-2.7%
Depreciation and amortization(7,078)(7,399)(6,328)-14.5%-10.6%(20,918)(20,971)0.3%
Other expenses(267)(948)(481)-49.3%80.1%(1,026)(1,693)65.0%
Profit before income tax65,41878,15643,674-44.1%-33.2%157,458176,96212.4%
Income tax(18,829)(22,712)(13,866)-38.9%-26.4%(45,239)(54,425)20.3%
Net profit46,58955,44429,808-46.2%-36.0%112,219122,5379.2%
Selected Financial Indicators
QuarterChangeUp to% Change
3Q252Q263Q26QoQYoYSep 25Sep 26Sep 26 / Sep 25
ROE41.0%57.6%27.9%-2972 bps-1310 bps31.4%36.5%510 bps
Net Interest Margin-0.5%0.1%-0.1%-21 bps36 bps0.2%0.1%-13 bps
Efficiency Ratio52.5%51.2%52.4%125 bps-5 bps52.7%53.6%82 bps
Operating Expenses / Total Average Assets32.2%30.1%30.3%17 bps-193 bps31.0%29.6%-137 bps
Main Indicators and Market Share
PrimaSystemShare %PrimaSystemShare %
2Q262Q262Q263Q263Q263Q26
AUMs (S/ Millions)34,869124,03428%35,559126,95528%
Affiliates (S/ Millions)2,365,11310,552,81422%2,367,27110,675,05322%
Collections (S/ Millions)1,1394,92523%1,1115,07022%
Source: Superintendencia de Banca, Seguros y AFPs.
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Earnings Release 3Q / 2026
Analysis of 3Q26 Consolidated Results
12. Appendix
12.7.8. Grupo Pacifico
Grupo Pacifico
(In S/ Thousands, IFRS)
As of% Change
Sep 25Jun 26Sep 26QoQYoY
Total assets20,594,42821,434,13721,596,7390.8%4.9%
Total Invesment (1)
14,661,17615,230,02315,453,2871.5%5.4%
Total Liabilities16,308,59917,215,30217,021,090-1.1%4.4%
Net equity3,602,6903,584,9183,937,9359.8%9.3%
Statement of Income
(S/ Thousands, IFRS)
Quarter% ChangeUp to% Change
3Q252Q263Q26QoQYoYSep 25Sep 26Sep 26 /Sep 25
Insurance Service Result359,462295,078282,344-4.3%-21.5%979,953798,560-18.5%
Reinsurance Result(108,282)(134,206)(68,275)-49.1%-36.9%(308,793)(267,582)-13.3%
Insurance underwriting result251,180160,872214,06933.1%-14.8%671,160530,978-20.9%
Sale of medical services421,839440,841450,1512.1%6.7%974,8381,315,65535.0%
Cost of sales of medical services(297,919)(307,396)(313,757)2.1%5.3%(684,824)(921,973)34.6%
Medical services result123,920133,445136,3942.2%10.1%290,014393,68235.7%
Interest income220,584246,764248,3510.6%12.6%693,663776,41711.9%
Interest Expenses(158,576)(188,095)(175,541)-6.7%10.7%(460,776)(545,688)18.4%
Interest expenses attributable to insurance activities(141,444)(169,075)(167,660)-0.8%18.5%(416,121)(499,652)20.1%
Net Interest Income62,00858,66972,81024.1%17.4%232,887230,729-0.9%
Fee Income and Gain in FX(5,160)66074-88.8%-101.4%(15,708)(5,065)-67.8%
Other Income No Core:
Net gain (loss) from exchange differences1,454(837)(499)-40.4%-134.3%1,591(1,996)-225.5%
Net gain (loss) on securities and associates(12,740)6,9785,733-17.8%-145.0%(62,526)16,735-126.8%
Other Income not operational46,17559,48926,068-56.2%-43.5%106,782117,71810.2%
Other Income29,72966,29031,376-52.7%5.5%30,139127,392322.7%
Operating expenses(165,580)(141,823)(150,907)6.4%-8.9%(432,494)(439,386)1.6%
Other expenses(18,325)(29,544)(24,714)-16.3%34.9%(47,984)(70,630)47.2%
Total Expenses(183,905)(171,367)(175,621)2.5%-4.5%(480,478)(510,016)6.1%
Income tax(49,398)(24,214)(29,848)23.3%-39.6%(103,018)(81,918)-20.5%
Net income233,534223,695249,18011.4%6.7%640,704690,8477.8%
*Financial statements without consolidation adjustments.
(1)Excluding investments in real estate.
Up to February 2025, Grupo Pacifico’s financial statements reflect the agreement with Banmedica (in equal parts) of the businesses of:
(i)private health insurance managed by Grupo Pacifico and included in its Financial Statements in each of the accounting lines;
(ii)corporate health insurance (dependent workers); and
(iii)medical services.
The businesses described in ii) and iii) are managed by Banmedica, therefore they do not consolidate in Grupo Pacifico’s financial statements. The 50% of net income generated by Banmedica is recorded in Grupo Pacifico’s Income Statement as a gain/loss on investments in subsidiaries.
As explained before, corporate health insurance and medical services businesses are consolidated by Banmedica. The following table reflects the consolidated results from which Grupo Pacifico receives the 50% net income.
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Earnings Release 3Q / 2026
Analysis of 3Q26 Consolidated Results
12. Appendix
12.7.9. Investment Management & Advisory *
Investment Management & Advisory *Quarter% ChangeUp to% Change
S/ 0003Q252Q263Q26QoQYoYSep 25Sep 26Sep 26 / Sep 25
Net interest income12,434(9,299)(17,039)83.2%-237.0%36,854(22,131)-160.1%
Other income260,937337,289321,765-4.6%23.3%757,973953,16325.8%
Fee income161,004182,529192,9745.7%19.9%458,414550,09820.0%
Net gain on foreign exchange transactions17,87130,52727,263-10.7%52.6%54,43787,83861.4%
Net gain on sales of securities107,080188,18865,959-65.0%-38.4%212,570301,56941.9%
Derivative Result(32,934)(76,963)37,384-148.6%-213.5%(37,859)(33,388)-11.8%
Result from exposure to the exchange rate4,0289,234(2,043)-122.1%-150.7%21,4976,905-67.9%
Other income3,8883,774228-94.0%-94.1%48,91440,141-17.9%
Operating expenses (1)
(190,831)(223,539)(245,319)9.7%28.6%(576,601)(712,508)23.6%
Operating income82,540104,45159,407-43.1%-28.0%218,226218,5240.1%
Income taxes(21,056)(28,689)(14,225)-50.4%-32.4%(43,840)(54,665)24.7%
Non-controlling interest142133121-9.0%-14.8%461393-14.8%
Net income61,34275,62945,061-40.4%-26.5%173,925163,466-6.0%
* Includes ASB and Credicorp Capital. Does not include Wealth Management at BCP.
(1)Includes: Salaries and employee benefits + Administrative expenses + Assigned expenses + Depreciation and amortization + Tax and contributions + Other expenses.
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Earnings Release 3Q / 2026
Analysis of 3Q26 Consolidated Results
12. Appendix
12.8. Table of calculations
Table of calculations (1)
ProfitabilityInterest earning assetsCash and due from banks+Total investments+Cash collateral, reverse repurchase agreements and securities borrowing+Loans
FundingDeposits and obligations+Due to banks and correspondents+BCRP instruments+Repurchase agreements with clients and third parties+Bonds and notes issued
Net Interest Margin (NIM)
(Net  Interest Income (excluding Net Insurance Financial Expenses) (Average Interest Earning Assets)
Risk-adjusted Net Interest Margin (Risk- adjusted NIM)
(Annualized Net Interest Income (excluding Net Insurance Financial Expenses) - Annualized Provisions )
(Average period end and period beginning interest earning assets )
Funding cost
(Interest Expense (Does not Include Net Insurance Financial Expenses) (Average Funding )
Core incomeNet Interest Income+Fee Income+Net Gain on Foreign exchange transactions
Other core incomeFee Income+Net Gain on Foreign exchange transactions
Other non-core incomeNet Gain Securities+Net Gain from associates+Net Gain of derivatives held for trading+Net Gain from exchange differences+Other non operative income
Return on average assets (ROA)
(Annualized Net Income attributable to Credicorp)
(Average Assets)
Return on average equity (ROE)
(Annualized Net  Income attributable to Credicorp) (Average Net Equity)
Portfolio quality     Internal overdue ratio
(Internal overdue loans)
(Total Loans)
Non – performing loans ratio (NPL ratio)
(Internal overdue loans+Refinanced loans)
(Total Loans)
Coverage ratio of internal overdue loans
(Allowance for loans losses)
(Internal overdue loans)
Coverage ratio of non – performing loans
(Allowance for loans losses)
(Non-performing loans)
Cost of risk
(Annualized provision for credit losses on loans portfolio, net of recoveries )
(Average Total Loans)
Operating performance   Operating expensesSalaries and employees benefits+Administrative expenses+Depreciation and amortization+Association in participation +Acquisition cost
Operating IncomeNet interest, similar income, and expenses+Fee income+Net gain on foreign exchange transactions+Net gain from associates+Net gain on derivatives held for trading+Net gain from exchange differences+Net Insurance Underwriting Results
Efficiency ratio
Salaries and employee benefits + Administrative expenses + Depreciation and amortization + Association in participation
Net interest, similar income and expenses + Fee Income + Net gain on foreign exchange transactions + Net gain from associates+Net gain on derivatives held for trading + Result on exchange differences+Insurance Underwriting Result
Capital Adequacy    Liquidity Coverage ratio
Total High Quality Liquid Assets + Min(Total Inflow 30 days; 75% * Total Outflow 30 days)
 Total Outflow 30 days
Regulatory Capital ratio
(Regulatory Capital)
(Risk -weighted assets)
Tier 1 ratio
Tier 1(2)
Risk -weighted assets
Common Equity Tier 1 ratio (3)
Capital+Reserves -100% of applicable deductions (4)+  Retained Earnings+Unrealized gains or losses
Risk -weighted assets
(1)Averages are determined as the average of period-beginning and period-ending balances.
(2)Includes investment in subsidiaries, goodwill, intangibles, and deferred tax that rely on future profitability.
(3)Common Equity Tier 1 = Capital Stock + Reserves + Accumulated earnings – Unrealized profits or losses - 100% deductions (investment in subsidiaries, goodwill, intangible assets, and deferred tax assets based on future returns).
(4)Includes investment in subsidiaries, goodwill, intangible assets, and deferred taxes based on future returns.
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Earnings Release 3Q / 2026
Analysis of 3Q26 Consolidated Results
12. Appendix
12.9. Glossary of terms
TermDefinition
AFPAdministradora de Fondo de Pensiones or Private Pension Funds Administrators
BCRPBanco Central de Reserva del Perú or Peruvian Central Bank
Financially IncludedStock of financially included clients through BCP since 2020. New clients with BCP savings accounts or new Yape affiliates that: (i) Do not have debt in the financial system nor other BCP products in the 12 months prior to their inclusion, and (ii) Have performed at least 3 monthly transactions on average through any BCP channel in the last 3 months
GMVGross Merchant Volume
Government Program Loans (“GP” or “GP Loans”)Loan Portfolio related to Reactiva Peru, FAE-Mype and Impulso Myperu programs to respond quickly and effectively to liquidity needs and maintain the payment chain
MAUMonthly Active Users
MEFMinistry of Economy and Finance of Peru
TPVTotal Payment Volume
69

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