Valuation Update With 7 Day Price Move • Jun 15
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to S/1.95, the stock trades at a trailing P/E ratio of 8x. Average trailing P/E is 10x in the Banks industry in Peru. Total returns to shareholders of 97% over the past three years. New Risk • Jun 10
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Peruvian stocks, typically moving 7.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Reported Earnings • Apr 25
First quarter 2026 earnings released First quarter 2026 results: Revenue: S/1.90b (up 20% from 1Q 2025). Net income: S/722.7m (up 35% from 1Q 2025). Profit margin: 38% (up from 34% in 1Q 2025). The increase in margin was driven by higher revenue. New Risk • Apr 17
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Peruvian stocks, typically moving 5.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Declared Dividend • Apr 01
Dividend of S/0.12 announced Shareholders will receive a dividend of S/0.12. Ex-date: 15th April 2026 Payment date: 29th April 2026 Dividend yield will be 6.1%, which is higher than the industry average of 4.8%. Sustainability & Growth The dividend has increased by an average of 4.3% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 30% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Annuncio • Mar 31
Banco BBVA Perú announces Annual dividend, payable on April 29, 2026 Banco BBVA Perú announced Annual dividend of PEN 0.1239 per share payable on April 29, 2026, ex-date on April 15, 2026 and record date on April 16, 2026. Annuncio • Feb 27
Banco BBVA Perú, Annual General Meeting, Mar 26, 2026 Banco BBVA Perú, Annual General Meeting, Mar 26, 2026, at 09:00 SA Pacific Standard Time. Location: held remotely, Peru Buy Or Sell Opportunity • Nov 09
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 3.5% to S/1.47. The fair value is estimated to be S/1.22, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.1% over the last 3 years, while earnings per share has been flat. Buy Or Sell Opportunity • Sep 05
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 5.6% to S/1.49. The fair value is estimated to be S/1.24, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 4.2% over the last 3 years, while earnings per share has been flat. Reported Earnings • Aug 10
Second quarter 2025 earnings released: EPS: S/0.059 (vs S/0.047 in 2Q 2024) Second quarter 2025 results: EPS: S/0.059 (up from S/0.047 in 2Q 2024). Revenue: S/1.60b (up 21% from 2Q 2024). Net income: S/572.5m (up 26% from 2Q 2024). Profit margin: 36% (up from 34% in 2Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Declared Dividend • Apr 02
Dividend of S/0.11 announced Shareholders will receive a dividend of S/0.11. Ex-date: 15th April 2025 Payment date: 29th April 2025 Dividend yield will be 6.8%, which is higher than the industry average of 4.8%. Sustainability & Growth The dividend has increased by an average of 3.4% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Earnings per share has grown by 3.2% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Annuncio • Apr 01
Banco BBVA Perú, S.A. announces Annual dividend, payable on April 29, 2025 Banco BBVA Perú, S.A. announced Annual dividend of PEN 0.1060 per share payable on April 29, 2025, ex-date on April 15, 2025 and record date on April 16, 2025. Annuncio • Feb 28
Banco BBVA Perú, S.A., Annual General Meeting, Mar 27, 2025 Banco BBVA Perú, S.A., Annual General Meeting, Mar 27, 2025, at 09:00 SA Pacific Standard Time. Location: held remotely, Peru Reported Earnings • Feb 14
Full year 2024 earnings released: EPS: S/0.21 (vs S/0.21 in FY 2023) Full year 2024 results: EPS: S/0.21 (up from S/0.21 in FY 2023). Revenue: S/5.62b (up 7.0% from FY 2023). Net income: S/1.88b (flat on FY 2023). Profit margin: 34% (down from 36% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has fallen by 3% per year. Reported Earnings • Oct 31
Third quarter 2024 earnings released: EPS: S/0 (vs S/0.053 in 3Q 2023) Third quarter 2024 results: EPS: S/0 (down from S/0.053 in 3Q 2023). Revenue: S/1.45m (down 100% from 3Q 2023). Net income: S/501.0k (down 100% from 3Q 2023). Profit margin: 35% (down from 37% in 3Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Sep 05
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 4.8% to S/1.29. The fair value is estimated to be S/1.61, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 14%. Buy Or Sell Opportunity • Aug 19
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 3.6% to S/1.28. The fair value is estimated to be S/1.60, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 14%. Reported Earnings • Aug 02
Second quarter 2024 earnings released: EPS: S/0.051 (vs S/0.058 in 2Q 2023) Second quarter 2024 results: EPS: S/0.051 (down from S/0.058 in 2Q 2023). Revenue: S/1.32b (down 5.3% from 2Q 2023). Net income: S/453.3m (down 12% from 2Q 2023). Profit margin: 34% (down from 37% in 2Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • May 22
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 17% to S/1.44. The fair value is estimated to be S/1.80, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 24%. New Risk • May 19
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 9.2% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Shareholders have been diluted in the past year (9.2% increase in shares outstanding). Buy Or Sell Opportunity • May 05
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 11% to S/1.43. The fair value is estimated to be S/1.79, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 25%. Buy Or Sell Opportunity • Apr 12
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 18% to S/1.31. The fair value is estimated to be S/1.64, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 21% over the last 3 years. Earnings per share has grown by 34%. Valuation Update With 7 Day Price Move • Apr 11
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to S/1.35, the stock trades at a trailing P/E ratio of 5.9x. Average trailing P/E is 13x in the Banks industry in Peru. Total loss to shareholders of 13% over the past three years. Upcoming Dividend • Apr 04
Upcoming dividend of S/0.11 per share Eligible shareholders must have bought the stock before 11 April 2024. Payment date: 18 April 2024. Payout ratio is a comfortable 50% but the company is paying out more than the cash it is generating. Trailing yield: 7.1%. Lower than top quartile of Peruvian dividend payers (13%). Higher than average of industry peers (4.6%). New Risk • Apr 03
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 7.1% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company. Reported Earnings • Feb 15
Full year 2023 earnings released: EPS: S/0.23 (vs S/0.24 in FY 2022) Full year 2023 results: EPS: S/0.23 (down from S/0.24 in FY 2022). Revenue: S/5.25b (up 2.2% from FY 2022). Net income: S/1.87b (down 2.5% from FY 2022). Profit margin: 36% (down from 37% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 02
Third quarter 2023 earnings released: EPS: S/0.058 (vs S/0.066 in 3Q 2022) Third quarter 2023 results: EPS: S/0.058 (down from S/0.066 in 3Q 2022). Revenue: S/1.29b (down 2.6% from 3Q 2022). Net income: S/472.3m (down 12% from 3Q 2022). Profit margin: 37% (down from 41% in 3Q 2022). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 07
Second quarter 2023 earnings released: EPS: S/0.063 (vs S/0.065 in 2Q 2022) Second quarter 2023 results: EPS: S/0.063 (down from S/0.065 in 2Q 2022). Revenue: S/1.40b (up 9.3% from 2Q 2022). Net income: S/513.6m (down 3.0% from 2Q 2022). Profit margin: 37% (down from 41% in 2Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Upcoming Dividend • Apr 13
Upcoming dividend of S/0.13 per share at 8.3% yield Eligible shareholders must have bought the stock before 20 April 2023. Payment date: 28 April 2023. Payout ratio is a comfortable 36% and this is well supported by cash flows. Trailing yield: 8.3%. Lower than top quartile of Peruvian dividend payers (16%). Higher than average of industry peers (5.6%). Reported Earnings • Feb 14
Full year 2022 earnings released: EPS: S/0.26 (vs S/0.21 in FY 2021) Full year 2022 results: EPS: S/0.26 (up from S/0.21 in FY 2021). Revenue: S/5.14b (up 16% from FY 2021). Net income: S/1.92b (up 23% from FY 2021). Profit margin: 37% (up from 35% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 05
Third quarter 2022 earnings released: EPS: S/0.072 (vs S/0.055 in 3Q 2021) Third quarter 2022 results: EPS: S/0.072 (up from S/0.055 in 3Q 2021). Revenue: S/1.32b (up 17% from 3Q 2021). Net income: S/535.0m (up 32% from 3Q 2021). Profit margin: 41% (up from 36% in 3Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 9 non-independent directors. Independent Director Jose Manuel Sanchez-Diezma was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Apr 14
Upcoming dividend of S/0.12 per share Eligible shareholders must have bought the stock before 21 April 2022. Payment date: 29 April 2022. Payout ratio is a comfortable 70% but the company is not cash flow positive. Trailing yield: 7.3%. Lower than top quartile of Peruvian dividend payers (18%). Higher than average of industry peers (3.9%). Reported Earnings • Apr 06
Full year 2021 earnings released: EPS: S/0.23 (vs S/0.096 in FY 2020) Full year 2021 results: EPS: S/0.23 (up from S/0.096 in FY 2020). Revenue: S/4.43b (up 50% from FY 2020). Net income: S/1.56b (up 141% from FY 2020). Profit margin: 35% (up from 22% in FY 2020). The increase in margin was driven by higher revenue. Non-performing loans: 6.33% (up from 5.92% in FY 2020). Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Reported Earnings • Feb 15
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: S/0.23 (up from S/0.096 in FY 2020). Revenue: S/4.43b (up 50% from FY 2020). Net income: S/1.56b (up 141% from FY 2020). Profit margin: 35% (up from 22% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.1%. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Oct 06
Inaugural dividend of S/0.045 per share Eligible shareholders must have bought the stock before 13 October 2021. Payment date: 26 October 2021. The company last paid an ordinary dividend in February 2017. The average dividend yield among industry peers is 3.2%. Valuation Update With 7 Day Price Move • Apr 23
Investor sentiment deteriorated over the past week After last week's 16% share price decline to S/2.05, the stock trades at a trailing P/E ratio of 20.6x. Average trailing P/E is 34x in the Banks industry in Peru. Total loss to shareholders of 33% over the past three years. Upcoming Dividend • Apr 08
Inaugural dividend of S/0.045 per share Eligible shareholders must have bought the stock before 15 April 2021. Payment date: 27 April 2021. The company last paid an ordinary dividend in February 2017. The average dividend yield among industry peers is 2.4%. Reported Earnings • Feb 12
Full year 2020 earnings released The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: S/2.96b (down 29% from FY 2019). Net income: S/648.2m (down 60% from FY 2019). Profit margin: 22% (down from 39% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 3% per year whereas the company’s share price has fallen by 8% per year. Is New 90 Day High Low • Jan 29
New 90-day high: S/2.45 The company is up 19% from its price of S/2.06 on 30 October 2020. The Peruvian market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Banks industry, which is up 15% over the same period. Valuation Update With 7 Day Price Move • Nov 10
Market bids up stock over the past week After last week's 18% share price gain to S/2.40, the stock is trading at a trailing P/E ratio of 16.9x, up from the previous P/E ratio of 14.3x. This compares to an average P/E of 16x in the Banks industry in Peru. Total return to shareholders over the past three years is a loss of 17%. Reported Earnings • Nov 05
Third quarter 2020 earnings released: EPS S/0.016 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: S/710.6m (down 35% from 3Q 2019). Net income: S/102.8m (down 77% from 3Q 2019). Profit margin: 14% (down from 40% in 3Q 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has fallen by 16% per year, which means it is performing significantly worse than earnings. Is New 90 Day High Low • Oct 29
New 90-day low: S/2.05 The company is down 8.0% from its price of S/2.23 on 31 July 2020. The Peruvian market is down 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Banks industry, which is up 1.0% over the same period. 
