(Adds details and context from earnings report)
LIMA May 8 Peru's biggest financial holding
company, Credicorp, said on Thursday that its net
profit grew 41 percent on rising interest income in the first
quarter compared to the same period a year ago.
The company said in a statement that it earned a net 662
million soles ($238 million) as its loan portfolio rose 25.5
percent in the first quarter, when it bought a controlling stake
in micro-financing unit MiBanco for $179.5 million.
Net interest income increased 20.4 percent in the first
three months of 2014 on the year to 1.4 billion soles, the
Credicorp controls Peru's biggest bank, Banco de Credito
, and also owns a pension fund and an insurance company.
The company, which previously reported its earnings in
dollars, said it adopted the local sol as its operational
currency in January.
($1 = 2.783 soles)
(Reporting By Patricia Velez; Editing by Eric Walsh and Cynthia