November 10, 2016
While the Peruvian economy grew between 5% and 6% between 2011 to 2013, Banco de Crédito del Perú benefited from the expansion of Peru’s middle class that led to strong growth in credit cards, loans to consumers and borrowing by small-and medium-sized enterprises.
Although the country’s growth has since slowed, Peru is still enjoying a solid economic expansion compared to many of its neighbors. The IMF forecasts Peru’s GDP will expand 3.6% this year, up from 3.26% growth in 2015.
Banco del Crédito is still seeing its net profit rise. In the first six months of 2016, net profit rose 2.2% over the same period in 2015. The bank also saw a 6.8% increase in deposits from mid-2015 to mid-2016.
Few banks in Peru rode the country’s heady growth in recent years like this one