UPDATE 1-Peru Credicorp 2nd-quarter net down 16 percent

(Adds loan portfolio, net interest income)

LIMA, Aug 6 (Reuters) - Peru's largest financial holding company, Credicorp Ltd (BAP.LM) said on Wednesday its second- quarter net income fell 16 percent, in part because of fluctuations in currency markets.

Net income was $73.7 million in the second quarter of 2008, down from $87.4 million in the same period a year ago.

Credicorp has a 97.3 percent stake in Banco de Credito, Peru's largest bank. It also has assets in Bolivia.

Credicorp's loan portfolio grew 32.1 percent in the second quarter to $9.29 billion from a year earlier.

The Lima-based company said its results were affected by currency volatility.

"Such unexpected high income volatility is a direct result of the unusually high currency fluctuation experienced locally during this first semester and the net currency exposure held at each point in time," the company said in a statement.

So far this year, Peru's currency, the sol, has gained 6.8 percent on the United States dollar.

Net interest income rose some 36.2 percent in the second quarter to some $217 million on the year. (Reporting by Jean Luis Arce; Writing by Dana Ford, Editing by Leslie Gevirtz and Andre Grenon)