What caused BAP's Q2 2024 EPS to exceed expectations?

Credicorp's (BAP) Q2 2024 EPS exceeded expectations due to several key factors: 1. **Strong ROE and Operational Performance**: Credicorp reported a robust first-quarter performance with a return on equity (ROE) of 18.2%. This strong financial performance indicates efficient management and a healthy profitability environment within the company. 2. **Digital Advancements and Customer-Centric Growth**: The company's focus on digital advancements, such as its payment platform Yape, has contributed significantly to its success. Yape, with over 11.5 million monthly active users, has the potential to drive revenue growth and improve customer engagement. 3. **Economic Outlook and Infrastructure Investments**: Despite challenges, Credicorp remains optimistic about the positive economic outlook for Peru, with a revised GDP growth projection of 3%. Infrastructure investments in Peru reached $3 billion in Q1, which could lead to increased lending opportunities and economic activity. In conclusion, Credicorp's Q2 2024 EPS exceeded expectations due to a combination of strong operational performance, strategic digital initiatives, and a favorable economic environment in Peru. These factors collectively contributed to the company's robust financial results and optimistic outlook for the future.