In terms of user experience, that’s the only indicator we have to the composition. Regarding Tempo, it’s performing quite well, again, in operating indicators. We recently got — As a Tempo recently got the approval from the Chilean Superintendence to issue Credicorp. We’re in that process. And so that’s the next relevant stage in the Tempo regional business case. So as soon as we start to get more relevant information, we plan to — and the Tempo business becomes more relevant for Credicorp. We plan to do something similar to what we’re doing with Yape regarding information disclosure.
Carlos Gomez: And if I can go back to the beginning. You mentioned, yes, this is what Peru needs to grow. One core — to my question is in the medium term, what is your real expectations were in the business about what Peru can do over the next three to five years? And also, how does that translate into credit growth for you?
Gianfranco Ferrari: Yes. So long term in Peru is much less than three to five years. We have had six presence in six years, so it’s quite difficult I don’t think — and this is a personal opinion. I don’t think with the current scenario, political, social and macroeconomic scenario, I don’t think that it is achievable for Peru to grow 4% over the next few years. We need to do a lot of structural reforms that we don’t see them being done in the near future. Regarding growth portfolio growth, I want — I rather don’t provide an answer in that because there’s a lot of variables regarding the multiple of portfolio growth related to GDP growth. That’s the main reason why — or one of the main reasons why we’ve started to try to decouple from GDP growth, so as to keep growing at a much faster multiple.
Operator: Our next question will be a follow-up from Yuri Fernandes with JP Morgan. You may now go ahead.
Yuri Fernandes: It’s me again. I have a follow-up regarding costs here. Let’s put the worst-case scenario, right? This is not a moderate one. This is a strong are. You need to revise your cost of risk. You need to decelerate your loan growth, and this impacts your profitability. Can you cut your expenses on the investment plan, like the same as 150 bps on ROE headwind? I’m just trying to understand what you can do, like if there is a worst-case scenario, what can you do on all your digital initiatives? Or if the bank will prepare to say no, , we prefer to have ROEs below 60, below 50, whatever, but keep investing on technology and keep expenses high. Just trying to understand if expenses could be evolved for the company in the case there is a high stream event.
That’s one. And regarding also El Nino, I remember in 2017, you had extraordinary provisions for the event and later, I guess, reverted like it was not as bad as we expected. So in the case, the things get clear that this is a moderate to strong [indiscernible], if the company could do like voluntary anticipatory provisions as you did, I guess, in 2017?
Gianfranco Ferrari: Yes. Regarding your first question, Yuri, maybe a quick previous comment, which we shared on the Investor Day also. Most of the investments we’re doing in the digital ventures and the digital transformation, we are registered them as expenses rather than as investments. The main reason there is that obviously, there’s a high risk in these investments, we’d rather be conservative. And if something goes out, we don’t want to surprise the market. So going to your question — your specific question, there is some room. We are not planning to do that whatsoever. We are — because of the results we’re having in the digital ventures and the discipline we’re pursuing in the investment we’re making, we don’t plan to cut as of today, obviously, we don’t plan to cut any investments in that sense.
