Credicorp (BAP) Surpasses Earnings Forecast as Major Tax Dispute Demand Cancelled

Credicorp Ltd. (NYSE:BAP) is one of the 11 Best Annual Dividend Stocks to Buy According to Hedge Funds.

Following strong Q2 earnings, the company makes an update on its legal dispute with the Peruvian Tax Authority.

Peru’s largest financial services holding company, Credicorp Ltd. (NYSE:BAP), has a diversified portfolio spanning universal banking, microfinance, insurance, and investment management. It primarily focuses on providing financial services across Latin America, through its subsidiaries like Banco de Crédito del Perú (BCP). With its financial resilience, the company maintains a strong market presence.

Credicorp Ltd. (NYSE:BAP) released its Q2 2025 earnings on August 14, 2025. The report highlighted a revenue of $1.6 billion, surpassing the forecast by a significant 4.39%. It also reported an EPS of $6.2, which exceeded expectations by a significant 8.9%.

Additionally, on August 14, 2025, the company provided an update on its legal dispute with the Peruvian Tax Authority, known as SUNAT, which had issued a tax demand of approximately S/ 1.6 billion soles on June 27, 2025. As per the update, the total demanded amount has been cancelled. Although the company still disputes the underlying issues, the cancellation reduced short-term uncertainty.

Credicorp Ltd. (NYSE:BAP) sees moderate institutional interest with 29 hedge funds backing the stock. The significant dividend of $11.01 stands attractive to investors seeking long-term stable income.

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Disclosure: None. This article is originally published at Insider Monkey.