February 6, 2019 / 11:16 PM / 14 days ago

Peru's Credicorp says net profit fell 10 percent in fourth quarter

LIMA (Reuters) - Peruvian holding company Credicorp Ltd said on Wednesday that it earned 956.9 mln soles ($288 mln) in net profit in the fourth quarter, a 10 percent drop from the same quarter a year earlier.

The company, which owns Peru’s biggest bank, said its operating expenses rose on higher salaries and administrative costs in the fourth quarter, offsetting a nearly 11 percent rise in average daily loan balances.

Reporting By Mitra Taj

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