Prima AFP reported earnings results for the first quarter of 2014. For the quarter, the company reported net income of PEN 38.1 million in first quarter of 2014. This represents an 11.5% increase with regard to fourth quarter of 2013 and led to a ROAE of 32.3% versus 28.6% last quarter.

This result was attributable to lower charges for marketing and third party services with regard to fourth quarter of 2013, when expenses for advertising and external advisory services were higher. On the other hand, income at the end of first quarter of 2014 reported a slight decline of 1.7%. This quarter on quarter drop was due primarily to the application of NIC 18, which had a negative effect on the income line.

Income from commissions was PEN 97,247,000 against PEN 88,416,000 a year ago. Operating income was PEN 56,775,000 against PEN 46,034,000 a year ago.