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    Daniel Mora

    Research Analyst at Credicorp Capital

    Daniel Mora is currently an analyst at Credicorp Capital, specializing in Latin American financial sector research with a focus on corporate and syndicated lending for major institutions. He has played an instrumental role in arranging and syndicating significant loan facilities for companies across the region, notably assisting in successful financings for BanBif and Ingenio Magdalena, which have been recognized in market communications. With his background in regional corporate banking, Mora’s performance includes direct participation in high-profile transactions valued at over $100 million each, reflecting strong execution and deal placement. He began his career in Latin American financial services and joined Credicorp Capital prior to 2022, actively building cross-border investment relationships, and maintains professional credentials as a lead arranger, although no FINRA registration is listed.

    Daniel Mora's questions to Intercorp Financial Services (IFS) leadership

    Daniel Mora's questions to Intercorp Financial Services (IFS) leadership • Q1 2025

    Question

    Via webcast, Daniel Mora from CrediCorp Capital asked for an update on the Telefonica corporate case, questioning if the provision coverage was sufficient, and requested the normalized net profit and ROE for Q1 after excluding this effect.

    Answer

    Executive Luis Castellanos López-Torres reiterated that the company is comfortable with its current provision levels for the Telefonica case based on available information. He stated that if the one-time provision effect were excluded, the company's earnings would have been 'north of $500 million.'

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    Daniel Mora's questions to FOREIGN TRADE BANK OF LATIN AMERICA (BLX) leadership

    Daniel Mora's questions to FOREIGN TRADE BANK OF LATIN AMERICA (BLX) leadership • Q4 2024

    Question

    Daniel Mora of CrediCorp asked about the total loan portfolio's exposure to U.S. trade beyond Mexico and inquired about the deployment strategy for the new trade finance and treasury platforms, specifically whether it would be country-by-country or a broader rollout.

    Answer

    Executive Jorge Salas explained that potential tariffs on Mexico and China could create export opportunities for other Latin American countries like Brazil, which Bladex is positioned to finance. Chief Commercial Officer Samuel Canineu added that the new trade finance platform is country-agnostic and will be piloted with key relationships before being deployed to all clients.

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    Daniel Mora's questions to FOREIGN TRADE BANK OF LATIN AMERICA (BLX) leadership • Q3 2024

    Question

    Daniel Mora from Credicorp Capital inquired about the bank's Net Interest Margin (NIM) sensitivity to falling interest rates and its target for non-interest income as a percentage of total income, and whether ROE could surpass the 2026 guidance.

    Answer

    CFO Ana de Mendez explained that a 100-basis point change in interest rates impacts NIM by approximately 12 basis points and ROE by 100 basis points, due to the floating-rate nature of the balance sheet. She noted that new products should help sustain profitability. CEO Jorge Salas added that the bank's target is to increase non-interest income from the current 13% to 18% of total revenues by the end of 2026, driven by new platform initiatives.

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    Daniel Mora's questions to BANCO SANTANDER CHILE (BSAC) leadership

    Daniel Mora's questions to BANCO SANTANDER CHILE (BSAC) leadership • Q2 2024

    Question

    Daniel Mora questioned when a turnaround in NPLs, especially in the commercial segment, could be expected and asked what management considers a normalized NPL ratio for the bank's current portfolio mix.

    Answer

    Cristian Vicuna, Chief of Strategic Planning and Investor Relations, stated that a normalized NPL ratio for the current portfolio mix would be in the low-2s range (2.2% to 2.4%). He indicated that the bank is nearing a turnaround point for absolute NPL figures, with an expected improvement materializing in the next 6 to 9 months, noting that the recent ratio increase was partly due to a smaller loan book denominator.

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    Daniel Mora's questions to BANCO SANTANDER CHILE (BSAC) leadership • Q1 2024

    Question

    Daniel Mora from Credicorp Capital asked for an explanation of the bank's higher NPL ratio compared to peers, specifically questioning the drivers in the commercial loan segment and the actions being taken for improvement.

    Answer

    Cristian Vicuna, Chief of Strategic Planning and Investor Relations, stated that the NPL increase aligns with the economic cycle. He specified that in the commercial portfolio, the increase is concentrated in single names within the agriculture and real estate sectors, which are well-collateralized. He anticipates the situation will improve in the second half of the year and noted the bank's normalized cost of risk should be between 1.1% and 1.2%.

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    Daniel Mora's questions to Grupo Aval Acciones Y Valores (AVAL) leadership

    Daniel Mora's questions to Grupo Aval Acciones Y Valores (AVAL) leadership • Q1 2023

    Question

    Daniel Mora from Credicorp Capital posed three questions: 1) When to expect the peak in asset quality deterioration and if it will affect 2024. 2) The expected margin performance for each individual bank. 3) The long-term profitability target and the key drivers to achieve it.

    Answer

    CEO Luis Carlos Sarmiento Gutierrez projected that asset quality deterioration would likely peak in Q2 or Q3 2023. He explained that retail-focused banks (Popular, Villas) face greater margin pressure than commercial banks (Bogotá, Occidente), which will recover faster. He stated the long-term goal is to return to a 15% ROE, driven by margin recovery and the normalization of portfolio quality in the coming year.

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