Friday, May 29, 2015

Seeking Alpha: Credicorp Needs A Little Self-Improvement

Peru's economy didn't have a great performance in 2014, and the sluggish performance of the country's largest bank, Credicorp (NYSE:BAP), reflects that to a certain extent. While Credicorp has continued to enjoy good organic loan growth and expense control, there are reasons to be concerned about credit quality and the sustainability of the company's loan growth. It's also a little more challenging to get excited about the valuation today. Unless the company can find a path back to over 20% ROE, the shares only seem about 10% undervalued today.

Click this link to continue to the full article:
Credicorp Needs A Little Self-Improvement

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