Peruvian Lending in Pictures: Stronger Loan Growth But Pressured ROE

The Peruvian banking system saw loan growth accelerate to 7.5% yoy in April 2026, yet profitability declined as ROEs fell to 21.4% due to narrower interest spreads and increased provisions.

Key Takeaways

• 1.Peruvian system loan growth accelerated to 7.5% yoy in April 2026, with individual lending reaching 12.7% yoy.
• 2.Banking system profitability contracted, with ROEs dropping to 21.4% due to lower net interest margins and higher provision expenses.
• 3.Credicorp (BAP) gained 40bps of market share, reaching 34.2%, although its ROE also fell to 28.8%.

Table of Contents

• Profitability declined despite loan growth acceleration
• Loan growth acceleration across the board; Credicorp gained share
• Asset quality stayed unchanged in April
• Lower NII and higher provisions pressured profitability
• System: Loan growth and past due loans
• System: Funding yields, expenses and profitability
• Credicorp: Loan growth and past due loans
• Credicorp: Funding, yields, expenses and profitability
• Loan balances and growth, and NPL ratios by type
• Valuation and risks
• Disclosure Appendix

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