$BAP

Banco de Crédito del Perú (BCP) upgraded its Miami office to a full bank branch, allowing it to serve U.S. companies. The change, effective in July 2026, enables the branch to accept wholesale deposits. BCP, Peru's largest bank, is 97.74% owned by Credicorp (BAP), listed on the NYSE. The branch targets corporate clients, with a goal of 100 new clients by 2027. BCP also plans to acquire Helm Bank USA, pending regulatory approval.

Credicorp (NYSE:BAP) discussed Q2 results and outlook on an earnings call, including plans to reassess El Niño-related expected losses by late Q3 or early Q4. Management said full-year 2026 cost of risk should stay within guidance, raised 2026 loan-growth to ~12% and fee-income to high-teens, and reaffirmed 2026 ROE guidance ~19.5%. BCP ROE 29.2%, Mibanco ROE 22.9%, Yape has 16M+ MAUs.

Analysts covering Credicorp Ltd. raised the consensus 12-month price target to $437.02 from $433.39, based on 13 estimates. Targets range from $376.15 to $480.13. Using the Aug. 13 closing price, the update implies about 16% upside. The consensus rating remains “Buy” with 10 Buys, 3 Holds, and 0 Sells.

Bank of America raised its price target on Credicorp (BAP) to $408 from $361 and kept a Buy rating, citing a rollover of its valuation basis to 2027 and continued bullishness on Peru banks. Credicorp reported fiscal Q1 2026 net income of S/2,063 million (+16.1% YoY, +30.0% QoQ), with ROE at 21.1%, loan growth and improved asset quality.

Markets were mixed ahead of today’s FOMC decision, with traders pricing about a 5% chance of a 25 bp rate hike. US 10-year yields rose to 4.434% after May retail sales and pending home sales beat expectations. Overseas stocks were higher. In Europe, German and UK yields fell; Eurozone core CPI was revised up to 2.6% y/y.

Markets are pricing a 5% chance of a 25 bp rate hike after the FOMC meeting. US May retail sales beat expectations, pushing 10-year yields up to 4.436% while European bund and gilt yields fell. Eurozone May core CPI was revised to 2.6% y/y. Chip stocks rose (AMAT +9%); telecoms fell (Charter -3%). Jabil reported Q3 net revenue $8.80B and raised FY forecast to $35B.

Wall Street analysts issued a range of calls on Wednesday. Bernstein initiated GE Vernova (outperform), NeoVolta (buy, $8 PT) and reiterated Nvidia (outperform). Deutsche Bank raised Micron’s PT to $1,500 ahead of next week’s earnings. Bernstein also lifted AMD to $600, Intel to $100, and Arm to $500. Morgan Stanley downgraded ResMed to equal weight; Citi initiated Figma (buy, $36 PT).

Cavero Diego Antonio (CEO Head Universal Banking) sold 3,500 shares of CREDICORP LTD (BAP) at $319.00 ($1.12M total) on 2026-06-05.

FNArena’s daily ASX300 “winners and losers” table ranks the 20 biggest percentage gainers and decliners by end-of-day moves, using automated raw data and excluding low-liquidity stocks via a volume filter. Reported gainers include OML (+9.56%) and CHN (+5.88%); decliners include CHN (-10.39%) and PDN (-8.78%). The outlet says it’s for information only, not investment advice.

The article argues Australia’s consumer “defensive” playbook is weakening as trade-down demand becomes less predictable and cost pressures persist. It cites Domino’s (DMP) with -9.3% ANZ underlying EBIT after reducing promotions, Collins Foods (CKF) with 5.6% YTD sales growth, and Wesfarmers (WES) Kmart revenue up 3.3% to $6.3bn.