Can BAP maintain its EPS growth trend into 2025?

**Credicorp's EPS growth trend into 2025 appears promising**, considering the following points:

1. **Consistent Growth**: Credicorp has demonstrated a consistent upward trend in EPS, with a significant year-over-year increase of 21.5% in revenue and a corresponding EPS of S/17.36 in Q1 2023. This is a strong indicator of the bank's profitability and financial health.

|code|Ticker|Name|Date|Diluted EPS (FY) YoY|Diluted EPS (FY)|market_code|
|---|---|---|---|---|---|---|
|BAP|BAP.N|Credicorp|2020|-92.55028176916962|1.2044198724|169|
|BAP|BAP.N|Credicorp|2021|841.3831462367692|11.3382056887|169|
|BAP|BAP.N|Credicorp|2022|35.039932881615584|15.311105352|169|
|BAP|BAP.N|Credicorp|2023|7.643314686272038|16.481381316|169|
|BAP|BAP.N|Credicorp|2024|11.370960182085255|18.3554726229|169|

2. **Analyst Confidence**: Institutional investors have shown confidence in Credicorp's growth potential, as evidenced by increased holdings from KBC Group NV and Cwm LLC. This confidence is likely based on the bank's historical performance and future growth forecasts.
3. **Positive Market Sentiment**: Recent news of Credicorp's earnings beat expectations, with revenue exceeding analyst estimates by 1.2% and EPS surpassing estimates by 7.5%. This positive sentiment could attract more investors and support the bank's earnings growth trajectory.
4. **Strategic Investments**: Credicorp's strategic investments and market positioning, particularly in retail banking and digital financial services, are expected to drive future growth. These strategic initiatives are likely to contribute to sustained EPS growth.
5. **Financial Ratios Improvement**: The bank's efficiency ratio improved by 290 bps in 1Q23, reflecting better operating income and a more efficient operation. Such improvements in financial ratios often precede or accompany EPS growth.
6. **Dividend Increase**: Credicorp's recent dividend increase from $3.94 to $6.7385 per share indicates the bank's confidence in generating solid profits, which is a positive signal for EPS growth.

In conclusion, considering Credicorp's strong financial performance, analyst confidence, strategic investments, and positive market sentiment, it is reasonable to expect that BAP can maintain its EPS growth trend into 2025. However, it is important to monitor the bank's operational efficiency, market conditions, and any potential risks that could impact its financial performance.