Fitch Ratings considers the major Peruvian banks' credit profiles resilient in 2026.
"Support comes from a still-favorable operating environment, sound profitability, adequate capitalization, and solid funding and liquidity," it stated.
Fitch upgraded Banco de Credito del Peru (BCP) to 'BBB+' from 'BBB' and BanBif to 'BBB-' from 'BB+'.
Likewise, it affirmed BBVA Peru at 'BBB+', Interbank at 'BBB', and Scotiabank Peru at 'A-'. All have stable outlooks.
According to the credit rating agency, the operating environment remains supportive.
Fitch assesses it at 'bbb-'/stable, above the implied 'bb' score due to a positive sovereign-related adjustment.
It also forecasts Peru's GDP growth at 2.8% in 2026, after 3.4% in 2025.
According to Fitch, the sector entered 2026 with controlled inflation, resilient domestic demand, and positive terms of trade.
"Political uncertainty, climate risks, and external shocks could weigh on private-sector activity and credit appetite," it said.
The largest banks benefit from established franchises, diversified revenue sources, stable deposit bases, and sound risk management.
Fitch expects credit fundamentals to remain stable, supported by internal capital generation, prudent underwriting and conservative balance-sheet management, as well as a gradual recovery in lending activity.
Asset quality is generally sound to adequate and improved at most banks in 2025, driven by better macroeconomic conditions, normalized payment behavior and prudent risk practices.
"Profitability is also sound and improving, supported by lower credit costs, healthy margins and stable or recovering business volumes. Performance still varies, however, by franchise strength, business mix and risk appetite," it noted.
Capitalization is generally adequate to solid, supported by earnings retention, moderate balance-sheet growth and Basel III implementation.
Funding and liquidity are sound to strong, underpinned by broad customer deposit bases, adequate liquidity buffers and prudent management.
Loan-to-deposit ratios improved in most cases in 2025.
Lastly, Fitch expects funding and liquidity to keep supporting moderate business growth.