Earnings Call Summary | Credicorp(BAP.US) Q4 2023 Earnings Conference
Earnings Call Summary | Credicorp(BAP.US) Q4 2023 Earnings Conference
The following is a summary of the Credicorp Ltd. (BAP) Q4 2023 Earnings Call Transcript:
以下是Credicorp Ltd.（BAP）2023年第四季度财报电话会议记录的摘要：
Financial Performance:
财务业绩：
Credicorp reported an ROE of 15.8% for the year, factoring in significant Q4 charge due to expected losses.
Net Interest Income saw an increase, attributed to disciplined interest rate adjustments made in H1 2023.
Despite reductions in reference rates, an increase in income was observed owing to favorable balance sheet dynamics.
Credicorp's loan growth of 0.4% was primarily driven by retail banking at BCP.
The firm noted a 13.2% decrease in insurance underwriting due to higher claim expenses.
Provisions notably increased to $250 million, with cost of risk at 3.2% and NPL ratio at 5.6%.
Yearly Operating Expenses grew by 10% attributed mainly to investments in IT and digital capabilities.
Credicorp报告称，该年度的投资回报率为15.8％，其中考虑到第四季度因预期亏损而产生的巨额费用。
净利息收入有所增加，这要归因于2023年上半年对利率进行了严格的调整。
尽管参考利率有所下降，但由于资产负债表的良好动态，收入仍有所增加。
Credicorp的贷款增长0.4％，主要是由BCP的零售银行业推动的。
该公司指出，由于索赔费用增加，保险承保额下降了13.2％。
准备金显著增加到2.5亿美元，风险成本为3.2％，不良贷款率为5.6％。
年度运营支出增长了10％，这主要归因于对IT和数字能力的投资。
Business Progress:
业务进展：
Though marred by adverse events, BCP reported an increase in NII of 5.1% due to optimization of the funding base.
Mibanco observed negative impacts on results because of unfavorable macro conditions, social conflicts, and climate anomalies.
Credicorp projects loan book growth of 3-5% for the year 2024.
The company intends to increase weightage of retail loans in the loan book, thereby augmenting portfolio yield.
Digital transformation and disruptive initiatives, forming a significant part of the firm's strategic direction, will remain key areas of investment.
Credicorp expects Yape to break even in profits this year, envisioning increased income streams from transactional activities and financial services on Yape markets.
The proportion of low-cost deposits, which positively contributes to their margin, has been predicted to keep rising.
Improved net interest margin and controlled cost of risk are expected to increase their income in the coming year.
Credicorp forecasts an acceleration in fee income from underlying businesses and disruptive initiatives, particularly Yape.
The company projects mitigated volatility due to a changing balance sheet composition.
Commitment remains high to disruptive initiatives for the next five years with consistent monitoring of performance.
尽管受到不良事件的影响，但BCP报告称，由于资金基础的优化，NII增长了5.1％。
米班科观察到，由于不利的宏观条件、社会冲突和气候异常，对业绩产生了负面影响。
Credicorp预计，2024年的贷款账面将增长3-5％。
该公司打算增加零售贷款在贷款账面中的权重，从而提高投资组合收益率。
数字化转型和颠覆性举措构成公司战略方向的重要组成部分，仍将是关键的投资领域。
Credicorp预计，Yape今年的利润将达到收支平衡，预计Yape市场的交易活动和金融服务的收入来源将增加。
预计低成本存款的比例将继续上升，这对利润率有积极的贡献。
净利率的提高和风险成本的控制预计将增加他们来年的收入。
Credicorp预测，基础业务和颠覆性举措，尤其是Yape的费用收入将增加。
该公司预计，由于资产负债表构成的变化，波动性会有所缓解。
在持续监测绩效的前提下，未来五年对颠覆性举措的承诺仍然很高。
More details: Credicorp IR
更多详情： Credicorp IR
Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.
提示：本文由 AI 生成。无法完全保证内容的准确性。欲了解更多详情，请访问投资者关系网站。本文仅供投资者参考，不构成任何投资建议。