BCI (BCI.SN) Quarterly Preliminary Results 2Q26

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BCI (BCI.SN) Quarterly Preliminary Results 2Q26

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10 Jul 2026 15:11:49 ET │ 11 pages

BCI (BCI.SN)

Quarterly Preliminary Results 2Q26

CITI’S TAKE

The bank published its preliminary results for June, reporting ROE of 18.1%

Neutral for 2Q26 and 16.4% for 1H26. Quarterly performance was primarily driven

Price (09 Jul 26 16:00) ChP64,080.00 by an unusually strong net financial result, together with a higher UF

variation compared to the previous quarter (UF +2.46% QoQ), partially Target price ChP62,000.00

offset by higher operating expenses. Regarding asset quality, CoR (0.53% Expected share price -3.2% for 2Q26) and NPLs (1.36% for May) remain stable. Loan portfolio return

expanded by 1.1% QoQ, with consumer lending standing out as the most Expected dividend yield 3.3%

dynamic segment, consistent with the bank’s strategy of increasing its Expected total return 0.0%

exposure to it. Finally, our estimated 2026 ROE of 14% considers lower Market Cap ChP14,008,161M

ROE over the coming quarters due to lower NII (2H26 UF variation of 1.3%)

US$15,208M and a normalization of net financial results.

ROE supported by net financial results — The bank reported ROE of 18.1% for the

second quarter of the year, above the 15.2% recorded in 1Q26 and its LTM ROE of Javier PizarroAC

14.7%. Results were primarily driven by unusually high net financial results during the +56-2-2873-6804

quarter, coupled with a higher UF variation over the period, partially offset by javier.pizarro@citi.com

operating expenses, which increased 10% YoY, mainly due to higher employee benefit

obligations and other operating expenses. According to management, these Brian Flores, CFA

expenses were associated with strategic initiatives and the achievement of key +55-11-4009-2842

strategic objectives.