The Owner of Peru’s Largest Bank Sees President Boluarte in Power Until 2026

(Bloomberg) -- Peru’s largest company by market capitalization expects President Dina Boluarte to defeat attempts to oust her and serve out her term through 2026.

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“Our base case scenario is that the current government will finish its constitutional mandate,” Credicorp Ltd CEO Gianfranco Ferrari said in a conference call on Monday. “We strongly believe that Peru is today in a much better position than it was six months ago.”

Credicorp owns BCP, Peru’s largest bank.

Boluarte was elected vice president in 2021, on a ticket led by Pedro Castillo of the socialist Peru Libre party. Their election victory spooked markets, but Peru’s business leaders have since warmed to Boluarte as she appointed market-friendly officials to her cabinet, including Finance Minister Alex Contreras.

Boluarte came to power in December when Castillo was impeached, and she managed to remain in power through the worst unrest in decades from protesters demanding her resignation.

Boluarte’s administration is much more professional than Castillo’s “disastrous government”, Ferrari said.

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