Peru Credicorp reports a 38 pct fall in Q1 profits

LIMA, May 7 (Reuters) - Credicorp (BAP.N) (BAP.LM), Peru's largest financial holding company, posted a first-quarter net profit of $110.6 million, down from a $178 million profit reported in the same period a year ago.

The company said the fall was because of a sharp slowdown in the Peruvian economy and a drop in contributions from its Bolivian assets. (Reporting by Dana Ford; Editing by Steve Orlofsky)