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Best Bank: Banco de Crédito del Peru |
Banco de Crédito del Peru (BCP) is a national champion. It is the largest Peruvian bank according to all measures – total assets, total loans, total deposits and therefore net equity and net earnings. In mid-2008, BCP boasted a 38.1% market share of deposits and 30% of loans.
At the end of 2008, the leading Peruvian bank earned a net profit of $423.5 million, a 27.7% growth compared with the previous year’s profits. Return on equity improved also to 32.8%, above the system average of 31.3%. These impressive results were also backed up by a 12% increase in operating expenses as BCP continued to expand its infrastructure – 57 branches were opened in 2008.