Q1 2025 Intercorp Financial Services Inc Earnings Call Transcript

May 9, 2025 / 02:00 PM GMT

Release Date Price: $34.7 (+0.58%)

Transcript

Key Points

Positve

Intercorp Financial Services Inc (IFS) reported a strong start to 2025 with a net income of 446 million soles and a return on equity (ROE) exceeding 16%.
IFS's commercial banking segment showed significant growth, with a 19% year-over-year increase in loans, strengthening its position as the third-largest bank in Peru.
The company's wealth management segment, Inteligo, achieved a new all-time high in assets under management, growing by 16% year over year.
IFS's insurance business, Inter Seguro, experienced robust growth, particularly in individual life and annuities, maintaining its market leadership.
IFS is focused on digital excellence, with a 15% increase in retail primary banking customers and a strong emphasis on enhancing the digital experience for clients.

Negative

IFS's consumer loan portfolio contracted by 4.8% year over year, with a notable 9% decline in credit card loans.
The company faced a significant impact from provisions related to Telefonica, affecting its cost of risk and overall financial performance.
Despite improvements, the cost of risk remains a concern, with a slight increase due to the Telefonica impact, and potential future provisions may be required.
The Peruvian economy's growth is projected to slow in the second half of 2025 due to the pre-electoral period, which could affect IFS's growth prospects.
IFS's funding costs, while improved, may face challenges due to higher rates on medium-term financing, limiting further cost reductions.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

IFS.N - Intercorp Financial Services Inc
Q1 2025 Intercorp Financial Services Inc Earnings Call
May 09, 2025 / 02:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good morning and welcome to the Intercot Financial Services first quarter 2025 conference call. All lines have been placed on mute to prevent any background noise. Please be advised that today's conference is being recorded. After the presentation, we will open the floor for questions.

At that time, instructions will be given as to the procedure to follow if you would like to ask a question.

Also you can submit online questions at any time today using the window on the webcast, and they will be answered after the presentation during the Q&A session. Simply type your question in the box and click submit question. It is now my pleasure to turn the call over to Mr. Ivan Peel from Inspire Group

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