Strong business position within the Peruvian financial system; Sound quality of earnings and earnings capacity; and Good funding structure as a consequence of its important footprint in the country. Still high dollarization in its balance sheet; and Asset quality metrics deteriorated as a consequence of the exposure in the SME sector and higher penetration in the consumer segment. The stable outlook on Peru-based universal bank, Banco de Credito del Peru (BCP), reflects our expectation that the bank will maintain its strong market presence in almost all the business lines in which it operates. It also incorporates our view that credit losses and nonperforming assets (NPAs) will be about 2% and 2.5%, respectively, over the next 12 to 18 months, and
