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Creditex Q1 profit climbs 22.5% YOY

Creditex SAA said its first-quarter normalized net income came to 2.3 million soles, a rise of 22.5% from 1.8 million soles in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin increased to 4.0% from 3.2% in the year-earlier period.

Total revenue declined year over year to 56.2 million soles from 57.6 million soles, and total operating expenses decreased year over year to 52.6 million soles from 54.5 million soles.

Reported net income totaled 2.9 million soles, compared with 3.3 million soles in the year-earlier period.

As of May 13, US$1 was equivalent to 3.33 soles.