Slide 1: 1Q25 Earnings Conference Call
1Q25 Earnings Conference Call May 2025
Slide 2: Safe Harbor
Safe Harbor 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 ab
Slide 3: Remarkable Start to the Year in A Strengthening Economic Environment
Remarkable Start to the Year in A Strengthening Economic Environment Innovation Portfolio Solid Operating Results Further Boosted ROE 1 by Diversified Income 20.3%1 Risk-adj. Revenue Share2 5.4% Risk Adj. NIM Resilient Margins, Supported MS of Low-Cost Deposits3 2 by Low-Cost Funding 5.24% 41.3% +16
Slide 4: Peru Remains Relatively Well Positioned Amid Global Uncertainty and Trade Tensions
Peru Remains Relatively Well Positioned Amid Global Uncertainty and Trade Tensions 2025 Expected Economic Growth 4.6% (YoY % change)1 4.0% 2.7% 1.8% 1.0% 0.8% Jan Apr Jan Apr Jan Apr US China Eurozone Share of exports by destination 2024 Commodity prices (%)2 (% change since 1Q25 peak, as of May 12)
Slide 5: 1Q25 Key Financial Highlights
1Q25 Key Financial Highlights 1 2 3 4 Loan Portfolio Expanded Resilient NIM on Funding Growing Diversified Sources Diversified Business While Asset Quality Improved Tailwinds of Income and Solid Capital Base Total Loans1 NII Fee Income Earnings Contributions3 +1.5% +4.3% +16.0% 80.3% Universal Banki
Slide 6: Peru's GDP Grew ~4% Y/Y in 1Q25, Third Consecutive Quarter of Expansion
Peruʼs GDP Grew ~4% Y/Y in 1Q25, Marking the Third Consecutive Quarter of Expansion at This Pace GDP High-Frequency Economic Indicators 1Q25 (YoY % change)1 (YoY % change)2 20 21 15 11 9 10 8 5.0 3.9 Private formal Domestic Real wage Buying and Car sales Capital Industrial 3.0 employment VAT revenue
Slide 7: Central Banks in Wait-and-See Mode While Assessing Tariffs Impacts
Central Banks in Wait-and-See Mode While Assessing Tariffs Impacts Inflation CPI Rates Central Bank Policy Rates (YoY % change)1 (%, as of February 10)1, 2 9.25 5.00 4.50 Peru 5.2 4.50 4.5 Colombia 2.3 Chile 1.7 U.S. Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Apr25 Dec20 Jun21 Dec21 Jun22
Slide 8: Universal Banking: Strong Profitability Driven by Asset Quality Improvements
Universal Banking: Strong Profitability Driven by Asset Quality Improvements and Diversified Sources of Revenue 1Q24 4Q24 1Q25 Risk-Adjusted NIM and Cost of Risk (%) ROE 1 24.7% 20.1% 27.1% 4.6% 4.9% 5.0% Risk-adjusted NIM 2.1% 1.8% BCPʼs Drivers 1.3% Cost of Risk 1Q24 4Q24 1Q25 1Q24 4Q24 1Q25 Loans
Slide 9: Yape: With +14 Million MAU
Yape¹: With +14 Million MAU, Yape Generated 4.8% of Credicorpʼs Risk-Adjusted Revenues in 1Q25 Active Users and Engagement Financial Results² Monthly Revenues/MAU MAU (millions) 52.1 Monthly Expenditures/MAU # Monthly 51.0 6.1 6.2 Transactions/MAU 5.0 36.0 4.6 13.7 14.3 3.9 4.7 3.9 11.5 4.2 3.4 3.9
Slide 10: Microfinance: Mibanco Peru Sustained Mid-Teens Profitability
Microfinance: Mibanco Peru Sustained Mid-Teens Profitability Reflecting Enhanced Risk Management and Resumed Loan Growth 1Q24 4Q24 1Q25 Historical NPL Ratio (%) 8.1% ROE 1 13.2% 17.3% 14.7% NPL Ratio 7.4% 6.1% 6.4% Mibanco Peru Drivers 4Q22 2Q24 4Q24 1Q25 1Q24 4Q24 1Q25 5.5% 7.5% 4.7% 5.1% Cost of R
Slide 11: Grupo Pacifico: Insurance Underwriting Results Remained Strong
Grupo Pacifico: Insurance Underwriting Results Remained Strong, While Profitability Continues to be Impacted by Credit Down Downgrades at the Investment Portfolio 1Q24 4Q24 1Q25 Grupo Pacifico's Drivers ROE 1 28.9% 20.5% 19.3% (% change) QoQ YoY Insurance Underwriting -2.6% +14.4% Results Grupo Paci
Slide 12: IM & A: Favorable Business Dynamics Underpinned by Sound Asset Management Fees
IM & A: Favorable Business Dynamics Underpinned by Sound Asset Management Fees And Low Seasonal Expenses ROE1 and Income by Business2 (%, S/ millions) IM & Advisory Drivers (in US$ millions) Mar24 Mar25 Variation 16.3% 17.9% 18.6% 15.9% 16.9%4 13.7% 14.8% 7.8% 10.9%4 WM AUMs2 18,598 20,021 +7.6% AM
Slide 13: Mixed Balance Sheet Dynamics in an Environment Marked by Falling Interest Rates
Mixed Balance Sheet Dynamics in an Environment Marked by Falling Interest Rates Assets: Lower-yield Asset Mix and Decreasing Rates Negatively Liabilities: Decreasing Rates Coupled with Lower-Cost Funding Impacted Yield on IEA Structure Pushed Down Cost of Funding Interest Earning Asset (IEA) Structu
Slide 14: Asset Quality Improved Materially YoY
Asset Quality Improved Materially YoY Via Strengthened Payment Performance Amid Economic Recovery NPL YoY Contraction Across Segments Economic Reactivation and Strengthened Risk Management Drove Provisions Down Total NPLs1 Total Provisions (S/ millions) (S/ millions) 8,763 7,911 7,663 815 7,208 727
Slide 15: Diversified Revenue Streams Boosted Core Income
Diversified Revenue Streams Boosted Core Income, While Expenses Ticked up as Anticipated Double-Digit YoY Other Core Income Growth; Operating Expenses Increased YoY Driven by Core Business Reached Record High Risk-Adjusted NIM at BCP and Innovation Portfolio Initiatives Core Income Accumulated Opera
Slide 16: Delivered Robust 1Q25 Profitability, Mainly Supported by BCP and Pacifico
Delivered Robust 1Q25 Profitability, Mainly Supported by BCP and Pacifico Net Income and ROE (S/ millions, %) Annual Results¹ First Quarter 18.4% ROE Excluding Results Extraordinary Income² 17.0% 16.8% 15.8% 16.5% 20.3% 13.9% 18.2% 1,778 5,501 1,512 4,866 4,648 4,265 1.4% 3,585 347 2019 2020 2021 20
Slide 17: Maintain Our 2025 Guidance
Maintain Our 2025 Guidance 1Q25 Results Guidance 2025 Real GDP Growth +4.0% around 3.0% Total Loan Portfolio Growth1 +0.8% around 3.5% Net Interest Margin (NIM) 6.2% 6.2% – 6.5% Cost of Risk 1.6% 2.0% – 2.4% Risk-Adjusted NIM 5.2% 4.8% – 5.0% Efficiency Ratio 45.7% 45.0% - 47.0% ROE 20.3%2 around 17
Slide 18: 1Q25 Closing Remarks
1 Robust 1Q25 with 20.3% 2 Our innovation portfolio ROE (18.4% excluding contributed 5.4% of extraordinary income), risk-adjusted revenues, reflecting strengthened risk on track to reach our 2026 management, margin goal of 10% while resilience and income advancing financial 1Q25 diversification amid
Slide 19: 1Q25 Earnings Conference Call
1Q25 Earnings Conference Call May 2025