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Peru's Credicorp reports 11.8 pct rise in Q1 net profit
May 4, 2017 / 11:24 PM / 6 months ago

Peru's Credicorp reports 11.8 pct rise in Q1 net profit

LIMA, May 4 (Reuters) - Peruvian financial holding company Credicorp reported 889.6 million soles ($271.05 million) in first-quarter net profit on Thursday, up 11.8 percent from the same period a year earlier. That was down 0.6 percent from the prior quarter, Credicorp said, adding that its results were hit by a strong El Nino phenomenon. Storms and flooding linked to El Nino in February and March killed hundreds, damaged infrastructure, and prompted Peru’s government to slash growth expectations.

Credicorp controls Peru’s biggest bank, Banco de Credito , a pension fund and a bank that lends to small businesses. ($1 = 3.2820 soles) (Reporting by Teresa Cespedes; Writing by Luc Cohen; Editing by Sandra Maler)

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