Goldman Sachs maintained its Credicorp BAP Neutral rating in a research report published today.
In the report, Goldman Sachs states, "results. Credicorp, the largest bank in Peru, reported 4Q2010 recurring net income of US$129 million, 14.4% below our estimate, and EPADR of US$1.62. Although 4Q2010 results were below expectations we saw some positive highlights such as strong loan growth and lower provisions. However, the higher expenses (even if seasonal) and lower market-related income limited the profitability of the quarter."
Shares of Credicorp were at $99.63 in Friday after-hours trading, reflecting no change from Friday's market close.
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