Banco de Credito to Tap Debt Market on Loan Growth, Correa Says

Banco de Credito del Peru (CREDITC1), the country’s largest lender, said it will continue tapping debt markets in the next two to three years as its loan portfolio grows faster than deposits.

Increased reserve requirements are also prompting the bank to seek financing, Alvaro Correa, chief financial officer of parent company Credicorp Ltd. (BAP), said on its third-quarter conference call today. The lender’s loan portfolio grew 23.7 percent to $19.7 billion at end-September from the year earlier period, he said.

To contact the reporter on this story: John Quigley in Lima at jquigley8@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net

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