Sign in

    Sergey Dubin • HL

    Sergey Dubin's questions to Credicorp Ltd (BAP) leadership

    Sergey Dubin's questions to Credicorp Ltd (BAP) leadership • Q4 2024

    Question

    Sergey Dubin asked for clarification on the loan growth guidance, questioning the difference between the 3.5% guided figure and the 5-6% expected for the industry. He also sought to understand the Sartor case provision, asking if the ~55% coverage of maximum exposure is considered sufficient and if backstopping clients is a one-off event.

    Answer

    CFO Alejandro Perez-Reyes clarified that the 3.5% loan growth guidance is based on average daily balances, which translates to approximately 6% growth in quarter-end balances, placing Credicorp slightly above the market's expected 5.5% growth. CEO Gianfranco Ferrari confirmed the Sartor provision is believed to cover the expected loss based on current information and emphasized that backstopping clients is not a usual practice and was a one-off decision for this specific, unprecedented case.

    Ask Fintool Equity Research AI

    Sergey Dubin's questions to Credicorp Ltd (BAP) leadership • Q3 2024

    Question

    Sergey Dubin requested clarification on the NIM sensitivity to rate changes, specifically the breakdown between dollar and soles portfolios, the cumulative nature of the impact, and the outlook for low-cost deposits.

    Answer

    Chief Financial Officer Alejandro Perez-Reyes clarified that NIM sensitivity is slightly higher for the dollar portfolio and confirmed the total impact of a 100 bps cut is a cumulative 25 bps over two years. Chief Executive Officer Gianfranco Piero Ferrari de Las Casas added that while there's no specific target for the low-cost deposit ratio, they expect it to continue growing as part of a long-term strategy.

    Ask Fintool Equity Research AI