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Creditex Q3 profit falls YOY

Creditex SAA said its normalized net income for the third quarter came to 1.6 million soles, a decline of 56.0% from 3.7 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 declined to 2.1% from 4.9% in the year-earlier period.

Total revenue rose on an annual basis to 77.3 million soles from 75.5 million soles, and total operating expenses grew 7.2% from the prior-year period to 74.6 million soles from 69.6 million soles.

Reported net income came to 2.0 million soles, compared with 4.9 million soles in the year-earlier period.

As of Nov. 14, US$1 was equivalent to 3.42 soles.