Intercorp Financial Services Inc. · NYSE:IFS

Intercorp Financial Services — Q1 2009 Earnings Presentation

19 slides from Intercorp Financial Services's earnings presentation, 2009

  1. Slide 1: First Quarter 2009 Earnings Presentation

    First Quarter 2009 Earnings Presentation

  2. Slide 2: Highlights

    Highlights Intergroup • Intergroup’s net earnings grew by more than 20% QoQ and YoY, as operating trends remain strong. • QoQ growth was due to higher net financial margin, attributable to higher loan volumes and lower funding costs at Interbank, and increases in investment income at Interbank and I

  3. Slide 3: Intergroup Financial Services

    INTERGROUP Intergroup FINANCIAL Financial SERVICES <IFS> Services 7

  4. Slide 4: Net income increased 20% QoQ and 25% YoY

    Net income increased 20% QoQ and 25% YoY Intergroup Interbank Interseguro S/. million S/. million S/. million 120 36.3% 0 40.0% ROE 40.00% ROE 100 30.1% 0 28.6% 30.0% 19.4% 30.00% 16.8% 16.9% 0 20.0% 80 73.6 69.0 68.2 10.0% 20.00% 0 60 70.4 0.0% 10.00% 0 58.4 10.0 50 56.3 -10.0% 40 0 0.00% -20.0% 40

  5. Slide 5: Net earnings

    Net earnings Intergroup's Profit and Loss Statement Summary S/. million %chg %chg 1Q08 4Q08 1Q09 QoQ YoY Financial income 343 419 457 9% 33% Financial expenses -93 -143 -143 0% 53% Gross financial margin 250 276 314 14% 26% Provisions -36 -107 -92 -14% 157% Net financial margin 214 168 222 32% 4% Fe

  6. Slide 6: Interbank

    INTERGROUP FINANCIAL SERVICES <IFS> Interbank 7

  7. Slide 7: Interbank's earnings before taxes grew 40% QoQ, but were affected by lower deferred tax income

    Interbank’s earnings before taxes grew 40% QoQ, but were affected by lower deferred tax income Profit and Loss Statement Summary S/. million %chg %chg 1Q08 4Q08 1Q09 QoQ YoY Financial income 318 402 430 7% 35% Financial expenses -85 -131 -133 1% 57% Gross financial margin 233 270 297 10% 27% Provisi

  8. Slide 8: Performing loans grew 59% YoY and 5% QoQ, leading to significant gains in market share

    Performing loans grew 59% YoY and 5% QoQ, leading to significant gains in market share Performing loans Breakdown of retail loans S/. million S/. million %chg %chg +58% 1Q08 4Q08 1Q09 QoQ YoY 9,588 Consumer loans: 9,176 Credit cards 874 1,421 1,476 4% 69% 7,957 Other consumer 1,402 1,806 1,894 5% 35

  9. Slide 9: Deposits increased 18% QoQ and 47% YoY

    Deposits increased 18% QoQ and 47% YoY Funding Structure Deposit Breakdown S/. million %chg %chg +47% 11,351 1Q08 4Q08 1Q09 380 QoQ YoY Deposits and obligations 7,747 9,630 11,351 18% 47% 9,630 1,884 9,398 Due to banks 321 1,481 2,992 1,993 -33% 35% 304 Bonds and obligations 123 482 482 0% 292% 8,32

  10. Slide 10: Gross financial margin increased 4% QoQ and 30% YoY

    Gross financial margin increased 4% QoQ and 30% YoY Interbank Net Financial Margin S/. million %chg %chg 1Q08 4Q08 1Q09 QoQ YoY Financial Income: Loans 222 327 358 9% 61% Investments 48 26 34 33% -29% Interest on due from banks and interbank funds 12 10 4 -56% -64% Exchange difference 36 39 34 -13%

  11. Slide 11: Net interest margin improved in 1Q09

    Net interest margin improved in 1Q09 Net Interest Margin (%) 8.2% 7.8% Interbank 7.6% 7.3% 6.9% 7.0% 6.7% 6.7% 6.6% 6.4% Peruvian Banking System 1Q2008 2Q2008 3Q2008 4Q2008 1Q2009 Source: ASBANC Intergroup 11 Management Presentation

  12. Slide 12: Asset quality deteriorated in line with expectations, but coverage remains strong

    Asset quality deteriorated in line with expectations, but coverage remains strong Loan Provision Expense PDL & Coverage Ratios S/. million 140 130.7 16.00% 330% 2.00% 330% 14.00% 284% 291% 120 283% 100.5 262% 280% 12.00% 100 1.50% 10.00% 230% 80 8.00% 53.5 6.0% 1.00% 60 % loans* 1.5% 180% 41.6 6.00%

  13. Slide 13: Fee income increased 49% YoY and remained stable QoQ

    Fee income increased 49% YoY and remained stable QoQ Fee Income from Financial Services, Net S/. million %chg %chg 1Q08 4Q08 1Q09 QoQ YoY Credit and debit card 27 38 38 0% 42% Fees for sevices 30 34 40 16% 30% Contingent operations 3 7 7 -10% 103% Fees for collection and payment services 4 5 5 -3% 2

  14. Slide 14: Operating expenses rose 4.4% QoQ

    Operating expenses rose 4.4% QoQ Distribution network Operating expenses Units S/. million ATMs Efficiency ratio* 1,700 270 1,401 1,500 1,392 250 270 64.8% 53.7% 58.1% 54.6% 1,300 1,180 230 207 210 53.6% 1,056 220 197 1,025 210 189 1,100 184 40.0% 182 175 190 900 170 149 164 167 Branches 170 700 0.0

  15. Slide 15: Interseguro

    INTERGROUP FINANCIAL SERVICES <IFS> Interseguro 7

  16. Slide 16: Interseguro posted S/. 3mm net income, reversing the previous quarter's loss

    Interseguro posted S/. 3mm net income, reversing the previous quarter´s loss Profit and Loss Statement Summary S/. million %chg %chg 1Q08 4Q08 1Q09 QoQ YoY Premiums 52 54 58 7% 13% Premiums ceded -2 -2 -2 8% 17% Fees -1 -2 -2 9% 88% Claims -35 -25 -29 14% -17% Change in reserves -36 -30 -33 10% -7%

  17. Slide 17: Premiums have increased 7% QoQ and 13% YoY due to higher sales in most business lines

    Premiums have increased 7% QoQ and 13% YoY due to higher sales in most business lines Premiums by Business Line S/. million %chg %chg 1Q08 4Q08 1Q09 QoQ YoY Individual Life 5 6 6 8% 20% Annuities 34 33 34 5% 2% Group Life 6 9 11 20% 72% Disability and survivor benefits 2 0 0 -17% -88% Mandatory traf

  18. Slide 18: Investment income nearly tripled QoQ, but decreased 49% YoY

    Investment income nearly tripled QoQ, but decreased 49% YoY Investment Portfolio S/. million %chg %chg 1Q08 4Q08 1Q09 QoQ YoY Fixed Income 992 1,212 1,258 4% 27% Equity and Mutual Funds 243 221 173 -21% -29% Real estate 328 407 389 -4% 19% Others 4 6 5 -11% 27% TOTAL 1,566 1,845 1,825 -1% 16% Invest

  19. Slide 19: Intergroup Management Presentation

    Intergroup Management Presentation

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