Banks: How has the distribution of profits change in the last 5 years?

2024 was a favorable year for the results of the Peruvian banking. According to the SBS, the profits of these entities reached S/10,325.4 million, which implied an advance of 11.9% compared to the previous year.

Trump’s tariff escalation as could affect world trade and economies, could also benefit Peru as explained by former Foreign Trade Minister Juan Carlos Mathews.

There were banks that saw their profits increased from 2023, others that stopped reporting losses, others that saw them descend and others that simply lost: the profits of the Credit Bank (BCP) increased 11.8%, BBVA 0.9%, Scotiabank 29.9%, Interbank 3.7%, Mibanco 17.3%, Santander 7.4%, Banbif 11.2%, GNB 125%, Bank of China 120.8%, Bancom 69.8%, Alfín 495.2%. In addition, Banco BCI Peru and Banco Falabella Peru reversed the losses of the previous year.

In contrast, the ICBC and Citibank bank decreased their profits by 25.6% and 0.4%, respectively; while Banco Ripley and Banco Pichincha reported losses.

	Gains (millions of soles)	Variation vs. 2023
Credit Bank	5,216.7	11.8
BBVA Peru	1,886.4	0.9
Scotiabank	957.6	29.9
Interbank	933.7	3.7
Citibank	421.3	-0.4
Mibanco	312	17.3
Santander	237.7	7.4
Banbif	200.1	11.2
Falabella	83
GNB Bank	45.2	125.1
ICBC Bank	40.2	-25.6
Bank of China	40	120.8
BCI Peru Bank	9.2
BANCOM	7	69.8
Alfin Bank	1.3	495.2
Ripley Bank	-7.4
Pichincha	-58.6
Total	10,325.4	11.9

Market Share

After the pandemic, the last five years has been key to bank It has reflected in market shares and in the participation of profits.

For example, in 2019, before the health crisis, the BCP has a market share (Market Share) in the 33%loan business, BBVA of 20.6%, Scotiabank of 17.2%, Interbank of 12.7%and Mibanco de 3.7%, among the five banks with the highest market share. And a five -year period later, Market Share rearranged.

	Credit market share 2019	Credit Market Buy 2024	Difference
Credit Bank	33	33.8	0.8
BBVA Peru	20.6	22.2	1.6
Scotiabank	17.2	14	-3.2
Interbank	12.7	13.9	1.3
Banbif	3.7	4.1	0.5
Mibanco	3.7	3.5	-0.3
Pichincha	2.7	2.4	-0.3
Santander	1.5	1.6	0.1
GNB Bank	1.3	1.1	-0.2
Falabella	1.2	1	-0.2
BANCOM	0.6	0.5	-0.1
Citibank	0.7	0.5	-0.2
BCI Peru Bank	0	0.4	0.4
Ripley Bank	0.7	0.4	-0.3
ICBC Bank	0.2	0.3	0.1
Alfin Bank	0.2	0.2	0
Bank of China	0	0.1	0.1

The BCP quota increased by 0.8 percentage points (PP), BBVA’s grew 1.6 pp and Interbank advanced 1.3 pp, however, Scotiabank’s fell into 3.2 pp. In addition, Mibanco ceased to be the fifth bank due to the rise of the banbif that increased its participation at half a percentage point.

And this race for the quota was also reflected last year. The BCP increased its participation by 0.25 percentage points, BBVA in 0.77, Interbank in 0.56 and Scotiabank reduced it by 0.99. With this result Interbank is a few tenths to reach Scotiabank, which occupies position number 3. Banco BCI Peru also begins to step on Citibank’s heels.

But the business is not only of credits, but of other financial services that have been key to boosting the income of the banks and therefore their profits and profitability.

In terms of profitability, Citibank said with a 33.2%patrimonial return (ROE), followed by BCP with 22.2%, Santander with 18%and BBVA with 15.1%.
Something to highlight is the participation that BCP profits have gained. Before the pandemic they represented 40% of the total bank and today is 51%.

	Participation in 2019 profits	Participation in profits 2024	Difference
Credit Bank	39.9	50.5	10.6
BBVA Peru	17.7	18.3	0.5
Scotiabank	16.1	9.3	-6.9
Interbank	13.4	9	-4.4
Citibank	2.4	4.1	1.7
Mibanco	4.3	3	-1.3
Santander	1.2	23	1.1
Banbif	1.7	1.9	0.2
Falabella	1	0.8	-0.2
GNB Bank	0.5	0.4	-0.0
ICBC Bank	0.1	0.4	0.3
Bank of China	0.0	0.4	0.4
BCI Peru Bank	0.0	0.1	0.1
BANCOM	0.4	0.1	-0.3
Alfin Bank	-0.1	0	0.1
Ripley Bank	0.7	-0.1	-0.7
Pichincha	0.6	-0.6	0