Q2 2025 Intercorp Financial Services Inc Earnings Call Transcript

Aug 12, 2025 / 02:00PM GMT

Release Date Price: $39.6 (+4.21%)

Transcript

Key Points

Positve

Intercorp Financial Services Inc (IFS) reported a strong year-over-year recovery with an ROE exceeding 20%, driven by solid performance in core businesses and strong investment returns.
Interbank gained 90 basis points in market share within the commercial banking segment, focusing on midsized companies and synergies with Izipay.
The Wealth Management segment, Inteligo, delivered strong results with assets under management reaching new highs, growing 14% year-over-year.
IFS's insurance business, Interseguro, saw significant growth in private annuities and life insurance, maintaining its market leadership.
IFS's digital strategy is advancing, with retail primary banking customers growing by 10% and digital retail customers reaching 83%.

Negative

The growth of the consumer portfolio has been slower than expected, impacting the average yield and NIM.
Loan growth in the financial system remains below expected levels, with total loans growing around 5%, mainly driven by retail lending.
The cost of risk is expected to increase slightly as the consumer loan book resumes growth, although it remains below pre-COVID levels.
Expenses at IFS grew 10% year-over-year due to strategic investments in technology and personnel, impacting the cost-to-income ratio.
The pace of recovery in the consumer loan portfolio has been slower than initially expected, reflecting both supply and demand dynamics.

Operator

Good morning, and welcome to the Intercorp Financial Services second-quarter 2025 conference call. (Operator Instructions) Please be advised that today's conference call is being recorded. (Operator Instructions)

It is now my pleasure to turn the call over to Mr. Ivan Peill from InspIR Group. Sir, you may begin.

Ivan Peill

InspIR Group - Investor Relations

Thank you, and good morning, everyone. On today's call, Intercorp Financial Services will discuss its second quarter 2025 earnings. We are very pleased to have with us Mr. Luis Felipe Castellanos, Chief Executive Officer, Intercorp Financial Services; Ms. Michela Casassa, Chief Financial Officer, Intercorp Financial Services; Mr. Carlos Tori, Chief Executive Officer, Interbank; Mr. Gonzala Basadre, Chief Executive Officer, Interseguro; and Mr. Bruno Farereco, Chief Executive Officer, Inteligo.

They will be discussing the results that were distributed by the company yesterday. There is also a webcast video presentation to accompany the discussion during this call. If you didn't receive a

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