(Recasts, adds context, loan details, net interest income)
LIMA Feb 4 Credicorp, Peru's largest financial
holding company, posted a 807 percent rise in fourth-quarter
net profit on Thursday, recovering from a $43.5 million charge
in the fourth quarter of 2008 and lifted by loan growth.
Net income was $122.3 million, up from a $13.5 million
profit reported in the same period a year ago, the company
Credicorp (BAP.N) (BAP.LM) has a 97.3 percent stake in
Banco de Credito, Peru's largest bank.
The company, which also has operations in Bolivia, took a
$43.5 million provision in its 2008 fourth-quarter results for
exposure that one of its units had to Bernard Madoff, the U.S.
financier imprisoned for running a $65 billion Ponzi scheme.
Credicorp's overall loan portfolio grew 9.9 percent in the
fourth quarter to some $11.6 billion from a year ago and rose
8.6 percent from the third quarter of last year.
Net interest income increased 11.1 percent to $238 million
on the year and rose 10.9 percent from the third quarter of
Insurance-related operating income grew 122 percent to $45
million on the year, which was 25 percent higher than in the
third quarter of 2009.
(Reporting by Dana Ford; editing by Andre Grenon)