Reuters logo
Peru's Credicorp fourth-quarter net income falls 24 pct
February 6, 2014 / 3:55 AM / 4 years ago

Peru's Credicorp fourth-quarter net income falls 24 pct

LIMA, Feb 5 (Reuters) - Peru’s biggest financial holding company, Credicorp, said on Wednesday that its fourth-quarter net income fell 24.3 percent on the year to $151.6 million on one-time costs related to regulations and taxes.

Credicorp’s net profit for the year 2013 came in at $567.1 million - 28 percent less than what it reported in 2012, it said in a statement.

The company said currency and market volatility hit its financial businesses earlier in 2013, and that non-recurrent costs like a $14.5 million IFRS-required impairment loss pushed up operating expenses in the fourth quarter.

Credicorp controls Peru’s largest bank, Banco de Credito , and also owns a pension fund and an insurance company.

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below