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Peru's Rising Economy Helps Credicorp Grow.(B)(NYSE STOCKS IN THE NEWS)
Byline: Juan Carlos Arancibia
Credicorp is near an all-time high. The stock corrected 23%, found support at its 40-week moving average and recovered.
The firm is the holding company for Peru's largest bank, Banco de Credito del Peru, which has benefited from the country's improving economy.
Gross domestic product was expected to grow about 5% in 2005, and inflation is running at 3%.
Last week, Peru's banking regulators said Banco de Credito's profit in 2005 doubled from the year ago.
Credicorp has the third-best EPS Rating of 26 firms in IBD's Banks-Foreign industry group, which has ...
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