Intercorp Financial Services Inc. · NYSE:IFS
Intercorp Financial Services — Q3 2025 Earnings Presentation
53 slides from Intercorp Financial Services's earnings presentation, Nov 7, 2025
Slide 1: 3Q25 IFS earnings presentation
3Q25 IFS earnings presentation is.com.pe
Slide 2: 3Q25 key messages
3Q25 k ey messages 1 Business momentum remains strong 2 Higher yielding loans accelerate 3 Improving risk - adjusted NIM 2.1% +7% CoR banking 3Q25 + 81% YoY net profit 9M25 ~16 % ROE IFS 3Q25 YoY 3.8 % Risk -adjusted NIM 3Q25 4 Strengthening primary banking relationships 5 Insurance & WM core busine
Slide 3: Business momentum remains strong
Business momentum remains strong
Slide 4: Positive trend in macro indicators continues
Positive trend in macro indicators continues Quarterly GDP growth YoY (%) Interest rates (%) 3.2 % 2025 (E) 5.25 4.2% 5.00 3.8% 3.9% 3.2% (1) 4.75 2.8% 5.00 4.50 4.25 4.50 4.50 4.50 Oct25 4.25 4.00 Sep24 Dec24 Mar25 Jun25 Sep25 3Q24 4Q24 1Q25 2Q25 3Q25E PEN reference rate (BCRP) USD reference rate (
Slide 5: Solid fundamentals supporting growth
Solid fundamentals supporting growth Commodities supporting terms of trade (%) Additional improvement in internal demand 530 4,300 (FY25) 510 3,859 3,800 490 6.5% 470 486 3,300 5.1% 5.0% 450 2,625 4.4% 430 2,800 3.3% 3.5% 410 2,300 390 370 403 1,800 350 1,300 Dic-24 Mar-25 Jun-25 Set-25 Internal dem
Slide 6: Higher earnings drive quarterly ROE to ~16%
+17% Banking ROE 14.4% 14.4% 16.8% 401 +34% YoY YoY earnings drive 299 328 +22% QoQ quarterly ROE to ~16 % +S/20mn provision reversal 3Q24 2Q25 3Q25 Insurance IFS quarterly net profit (S/ mn) ROE 64.1% 47.5% 22.3% ROE 15.1% 20.7% 15.6% | 17.5%(1) 67 81 -44% YoY 38 -53% QoQ 580 -S/78mn RDL 3Q24 2Q25
Slide 7: Continuous positive quarterly trends
Continuous positive quarterly trends 20.7% 700 18.2% 20.0% 15.1% 16.3% 15.6% 17.4% 600 15.0% 18.3% excl RDL 11.2% 580 490 446 456 500 10.0% 5.6% 117 52 25.8% 390 72 37 400 38 5.0%42.8% 33 76 92 81 286 67 0.0% 300 79 -5.0% 200 141 401 15.5% 348 343 328 -10.0% 26 299 100 140 221 -15.0% 0 -20 -20.0% 1Q
Slide 8: Higher earnings drive 9M25 ROE to >17%
+81% Banking ROE 10.8% 15.5% 1,072 YoY earnings drive 660 +63 % YoY 9M25 year ROE to >17% 9M24 9M25 Insurance IFS accumulated net profit (S/ mn) ROE 36.0% 42.8% 211 ROE 17.4% 10.6% 126 +67 % YoY 1,482 9M24 9M25 817 Wealth management ROE 9.3% 25.8% 207 +3.1x YoY 66 9M24 9M25 +81% YoY 9M24 9M25 8
Slide 9: YoY increase in revenues
+9 % Banking NIM IBK 5.3% 1,294 5.1% 5.2% 1,355 +5% YoY YoY increase 1,300 +4% QoQ in revenues 3Q24 2Q25 3Q25 Insurance IFS revenues (S/ mn) 490 NIM IFS 5.1% 4.9% 5.0% 390 472 +26% YoY +4% QoQ 2,086 1,979 1,824 3Q24 2Q25 3Q25 Wealth management 179 -3% YoY 3Q24 2Q25 3Q25 83 80 -55% QoQ -5% QoQ |+9% Y
Slide 10: YoY increase in fee income
+8 % YoY increase in fee income Retail C ommercial IFS fee income (S/ mn) +17% YoY +9 % YoY 906 843 Izipay WM 9M24 9M25 -9 % YoY +17% YoY +8 % YoY 10
Slide 11: Continuous investments in IT. Efficiency remains a top priority
Continuous investments in IT. Efficiency remains a top priority IFS expenses (S/ mn) 36.7 % Banking expenses (S/ mn) C/I 9M25 C/I 39.0% 42.3% 40.8% (2) C/I 38.5% 35.9% 37.7% 564 568 526 (2) 789 786 744 3Q24 2Q25 3Q25 +1% QoQ | +8% YoY Banking expenses breakdown (S/ mn) YoY +9% +8% +8% +8% 30 1,654 3
Slide 12: Higher yielding loans accelerate
Higher yielding loans accelerate
Slide 13: Positive trend in higher yielding loans
Positive trend in higher yielding loans Performing loan book (S/ bn) QoQ YoY Higher High yielding portfolio -yielding loans (S/ bn) QoQ YoY 10.4 +3% +7% 48.3 10.1 48.2 +0% +5% 9.7 45.9 1.7 +8% +33% 1.3 1.6 8.5 8.5 8.7 +2% +3% 45% 44% -2% +7% 44% 3Q24 2Q25 3Q25 3% 4% +8% +33% Credit cards & personal
Slide 14: Credit cards and personal loans accelerate
Credit cards and personal loans accelerate Credit cards and personal loans (S/ bn) Personal loans (QoQ trend ) disbursements Var QoQ +0.4 % +0.0 % +0.6 % +2.0 % +51% YoY Sep25 8,5 8,5 8,5 8,5 8.7 Credit cards turnover Retail COR 3Q24 5.3% 4Q24 4.9% 1Q25 4.1% 2Q25 4.2% 4.0% 3Q25 +9 % YoY Sep25 14
Slide 15: Our payments ecosystem continues to grow
Individuals Our payments ecosystem continues to grow 83 % Digital retail +38 % YoY Plin customers transactions Small businesses Businesses + 60 % ~ 39 % IBK share of YoY flows from Izipay flows Izipay +20 % YoY Small + 31% YoY float from businesses deposits Izipay 15
Slide 16: Improving risk-adjusted NIM
Improving risk - adjusted NIM
Slide 17: Cost of risk remains at low levels
Cost of risk remains at low levels Cost of risk (%) NPL coverage ratio (%) 2.5 % COR 9M25 221% 164% 165% 131% 141% 140% 5.3% 90% 87% 69% 4.2% 4.0% 3Q24 2Q25 3Q25 Banking Retail Commercial 3.1% 2.5% 2.3% 2.1% Total NPLs - Stage 3 3.9% 0.6% 0.6% 3.2% 3.2% 3.1% 0.4% 2.4% 2.5% 2.4% -0.1% 3Q24 2Q25 3Q25
Slide 18: YoY improvement in risk-adjusted NIM in banking
+60 bps YoY improvement in risk -adjusted NIM in banking Interest -earning assets (S/bn) Yield on assets evolution (%) YoY 73.0 74.5 73.8 +1% 10.5% 10.0% 9.9% 16% 16% -13% 18% 8.4% 16% 16% +5% 7.9% 7.9% 15% 31% 33% 33% +6% 5.3% 5.2% 5.1% 3.8% 3.2% 3.4% 35% 35% 35% +3% 3.7% 3Q24 2Q25 3Q25 3Q24 2Q25 3
Slide 19: Further decrease in cost of funds in the quarter
+10 bps further decrease in cost of funds in the quarter Funding breakdown (S/ bn) Cost of funds and deposits (%) LDR 91% 94% 96% Ref. rate YoY -100 bps (S/) 64.7 -75 bps (USD) 63.7 63.2 7% 9% 7% 12% 11% 12% 3.5% 3.2% 3.1% 39% 40% 40% 3.0% 2.6% 2.5% 42% 40% 41% 3Q24 2Q25 3Q25 3Q24 2Q25 3Q25 Retail d
Slide 20: Strengthening primary banking relationships
Strengthening primary banking relationships
Slide 21: Developing primary banking relationships
Developing primary banking relationships … +6 % Primary banking relationships KPIs (Data as of Sep25) YoY retail primary banking customers ~13% ~15% MS inflows MS retail payroll deposits IBK Plin transactions (mn) (1) 179 + 38 % YoY PLIN 130 transactions >26 % 56 MS credit NPS retail cards 3Q24 3Q25
Slide 22: Through a world-class digital experience
… through a world -class digital experience Digital customers Digital self -service NPS Retail (% of digital customers ) (% of digital self -service) (Points – Retail Banking ) 83 82 80 66 76 54 56 Sep24 Sep25 Sep24 Sep25 Sep24 Jun25 Sep25 Digital sales (% of products sold digitally) 72 73 69 68 Sep
Slide 23: Insurance & WM core businesses growing double digit
Insurance & WM core businesses growing double digit
Slide 24: YoY increase in AUM leads recovery of fee income in WM
+13 YoY in AUM leads recovery of fee % income in WM Assets under management Fee income evolution (US$ bn) +13% YoY (S/ mn) +16% YoY +4% QoQ +1% QoQ 7.8 8.1 50 50 7.1 43 2.4 2.6 2.0 5.0 5.2 5.4 3Q24 2Q25 3Q25 3Q24 2Q25 3Q25 Inteligo Bank Interfondos Fees/ AuM 0.7% 0.7% 0.7% 24 25
Slide 25: Increasing digital adoption in wealth management
Increasing digital adoption in wealth management Interfondos digital transactions Interfondos digital users (% of digital transactions ) (% of total Interfondos customers ) 53% 55% 30% 25% 3Q24 3Q25 Sep24 Sep25 25 26
Slide 26: YoY growth in long-term insurance
+19% YoY in long -term insurance Long - term insurance (S/ mn) Short -term insurance (S/mn) +1.1xYoY (CSM stock by business unit) +19% YoY (Insurance PAA net premiums ) +1% QoQ +7% QoQ 122 122 1,075 55 1,005 161 900 150 183 3Q24 2Q25 3Q25 580 534 427 Results from investments (S/mn) -19% YoY (1) -31%
Slide 27: Increasing digital adoption in insurance
Increasing digital adoption in insurance Direct digital sales Digital self -service (Written premiums – s/mn) (% of total client interaction ) 32 71% 27 65% 3Q24 3Q25 3Q24 3Q25 +19% YoY 27
Slide 28: Takeaways
Takeaways 28 is.com.pe
Slide 29: Focus on growth
Focus on growth Small businesses Consumer loans (1) Long -term Insurance (2) +2 % +33 % +19% 1.7 QoQ loans 1.3 3Q24 3Q25 YoY Loans +3 %YoY loans YoY CSM stock Commercial loans (3) (S/ bn) Mortgage loans WM AUMs +7 % 23.1 +13% 21.6 3Q24 3Q25 +7 % YoY YoY YoY 1) Excluding payroll deductible loans 2) I
Slide 30: Operating trends 9M 2025
Operating trends Capital Profitability Loans 9M 2025 To remain at sound levels Continued path to recovery High single digit growth in total loans IBK TCR 15.8% IFS ROE 5.1% IBK CETI 12.1 % 17.4% Revenues Cost of risk Efficiency Slight recovery NIM Sound cost of risk Continued focus on efficiency IBK
Slide 31: Sustainability update
Sustainability update Environmental Social >1,2M >1,800 +USD 348 mn Sustainable loans Entrepreneurs actively using izipayYA Peruvians accesed inclusive insurance through Rumbo & Vida Cash in 3Q25 + 10hours Interbank #5 Interseguro #13 Inteligo Group #20 izipay #17 UN Global Compact recognition: “Voc
Slide 32: Takeaways
Takeaways Business Higher yielding Improving momentum loans risk-adjusted remains strong accelerate NIM Strengthening Insurance & WM core primary banking businesses growing relationships double digit 33
Slide 33: Appendix
Appendix 33
Slide 34: IFS Key indicators 3Q25
IFS Key indicators 3Q25 ROE NIM 15.1% 20.7% 5.1% 4.9% 3Q24 2Q25 3Q24 2Q25 15.6% 5.0% IFS 3Q25 3Q25 ROA C/I ratio 1.6% 2.4% 38.1% 35.9% 3Q24 2Q25 3Q24 2Q25 1.9% 38.9% 3Q25 3Q25 35
Slide 35: IFS Key indicators 3Q25
IFS Key indicators 3Q25 Banking NIM CoR Wealth management AUM (US$ bn) 5.3% 5.1% 3.1% 2.5% 7.1 7.8 3Q24 2Q25 3Q24 2Q25 3Q24 2Q25 5.2% 2.1% 8.1 3Q25 3Q25 3Q25 Insurance ROIP C/I ratio Fees, net (S/ mn) 5.4% 6.1% 39.0% 42.3% 43.2 49.6 3Q24 2Q25 3Q24 2Q25 3Q24 2Q25 4.1% 40.8% 50.0 3Q25 3Q25 3Q25 36
Slide 36: YoY increase in revenues
+14% Banking NIM IBK 5.3% 5.2% 3,969 YoY increase in 3,751 +6 % YoY revenues 9M24 9M25 Insurance IFS (S/ mn) 1,489 1,171 NIM IFS 5.1% 5.0% +27 % YoY 6,041 5,311 9M24 9M25 Wealth management 344 Título del eje 197 9M24 9M25 +75 % YoY +14% YoY 9M24 9M25 36 37
Slide 37: YoY increase in results from financial transactions
+33 % Banking 127 148 159 +8 % QoQ YoY increase in results from +25 % YoY financial transactions 3Q24 2Q25 3Q25 IFS (S/ mn) Insurance 55 388 24 37 + 49 % QoQ + 2.3 x YoY 246 3Q24 2Q25 3Q25 184 Wealth management 112 -29 % QoQ 3Q24 2Q25 3Q25 23 16 -85 % YoY -37% QoQ | +33 % YoY 3Q24 2Q25 3Q25 38 37
Slide 38: Improvement in funding mix
Improvement in funding mix Low -cost funding (%) (1) Low -cost funding (S/bn) YoY 35.5% 35.9% 22.0 22.5 +2.3% +4.8% +61.4% 6.5 7.0 +6.5% 13.5 12.7 -5.6% 3Q24 3Q25 3Q24 3Q25 Retail Commercial Institutional Other 1) Low cost funding as a % of total funding . Low -cost funding includes retail deposits
Slide 39: Customer base growth continues across businesses
Customer base growth continues across businesses Banking Insurance Wealth management customers (mn) customers (mn) customers (th) +4 % +6 % +7 % YoY YoY YoY 83 89 5.3 5.5 3.0 3.2 Sep24 Sep25 Sep24 Sep25 Sep24 Sep25 40 39
Slide 40: Stable asset quality, CoR at 2.1%
Stable asset quality , CoR at 2.1% Impairments loss on loans , net (S/ mn) S2+S3 ratio & S3 NPL ratio (%) & Cost of risk (%) 600 4.5% 4.0% 11.7% 500 3.5% 10.2% 3.1% 10.2% 400 2.8% 3.0% 2.6% 2.5% 2.5% 300 2.1% 2.0% 200 1.5% 377 320 343 308 2.9% 257 1.0% 2.5% 2.4% 100 0.5% 0 0.0% 3Q24 4Q24 1Q25 2Q25 3
Slide 41: Sound capitalization levels
Sound capitalization levels Banking Insurance TCR CETI ratio 126.9% 130.3% 124.2% Banking (1) 100% System 15.9% 15.9% 17.6% Reg. min. TCR 16.9% 3Q24 2Q25 3Q25 15.9% 15.8% 12.2% 11.7% 12.1% 11.7% Wealth management Reg. min. 6.8% 21.1% Reg. min. 17.8% 19.2% 12% Reg. min. 3Q24 2Q25 3Q25 3Q24 2Q25 3Q25
Slide 42: Manageable dollarization levels at Interbank
Manageable dollarization levels at Interbank Total loans Retail loans Commercial loans % PEN 69% 73% 90% 94% 57% 60% System 6% 4% 26% 25% 51% 48% 94% 96% 74% 75% 49% 52% 3Q19 3Q25 3Q19 3Q25 3Q19 3Q25 Retail loans breakdown Commercial loans breakdown Consumer Mortgages Corporate Medium Small & Micro
Slide 43: IFS P&L 3Q25
IFS P&L 3Q25 Intercorp Financial Services P&L statement S/ million %chg %chg 3Q24 2Q25 3Q25 QoQ YoY Interest and similar income 1,765.6 1,715.2 1,724.4 0.5% -2.3% Interest and similar expense -614.5 -578.6 -567.4 -1.9% -7.7% Net interest and similar income 1,151.1 1,136.6 1,157.0 1.8% 0.5% Impairmen
Slide 44: IFS statement of financial position 3Q25
IFS statement of financial position 3Q25 Intercorp Financial Services' Statement of financial position S/ million %chg %chg 3Q24 2Q25 3Q25 QoQ YoY Assets Cash and due from banks and inter -bank funds 14,663.7 13,174.4 12,734.6 -3.3% -13.2% Financial investments 26,686.4 27,747.4 27,619.7 -0.5% 3.5%
Slide 45: Banking P&L 3Q25
Banking P&L 3Q25 Banking P&L statement S/ million %chg %chg 3Q24 2Q25 3Q25 QoQ YoY Interest and similar income 1,505.8 1,450.5 1,467.2 1.2% -2.6% Interest and similar expense -549.7 -510.9 -499.9 -2.2% -9.1% Net interest and similar income 956.1 939.6 967.3 2.9% 1.2% Impairment loss on loans, net of
Slide 46: Banking statement of financial position 3Q25
Banking statement of financial position 3Q25 Banking Segment' Statement of financial position S/ million %chg %chg 3Q24 2Q25 3Q25 QoQ YoY Assets Cash and due from banks and inter -bank funds 13,345.5 11,878.2 11,592.1 -2.4% -13.1% Financial investments 11,048.6 12,087.1 11,632.6 -3.8% 5.3% Loans, ne
Slide 47: Insurance P&L 3Q25
Insurance P&L 3Q25 Insurance Segment's P&L Statement S/ million %chg %chg 3Q24 2Q25 3Q25 QoQ YoY Interest and similar income 213.7 221.0 216.3 -2.1% 1.2% Interest and similar expenses -38.2 -44.1 -43.2 -2.1% 13.1% Net Interest and similar income 175.5 176.8 173.1 -2.1% -1.4% Recovery (loss) due to i
Slide 48: Insurance statement of financial position 3Q25
Insurance statement of financial position 3Q25 Insurance Segment' Statement of financial position S/ million %chg %chg 3Q24 2Q25 3Q25 QoQ YoY Assets Cash and due from banks and inter -bank funds 437.6 480.6 491.4 2.2% 12.3% Financial investments 13,566.2 13,840.0 14,264.0 3.1% 5.1% Property, furnitu
Slide 49: Wealth Management P&L 3Q25
Wealth Management P&L 3Q25 Wealth Management Segment's P&L Statement S/ million %chg %chg 3Q24 2Q25 3Q25 QoQ YoY Interest and similar income 43.6 43.1 39.7 -8.0% -9.1% Interest and similar expenses -27.1 -25.3 -25.9 2.6% -4.3% Net interest and similar income 16.5 17.8 13.7 -23.1% -16.9% Impairment l
Slide 50: Wealth Management statement of financial position 3Q25
Wealth Management statement of financial position 3Q25 Wealth Management Segment' Statement of financial position S/ million %chg %chg 3Q24 2Q25 3Q25 QoQ YoY Assets Cash and due from banks and inter -bank funds 509.2 533.6 618.5 15.9% 21.5% Financial investments 2,084.5 1,986.4 2,018.6 1.6% -3.2% Lo
Slide 51: Definitions
Definitions Concept Definition Net interest and similar income + Net fee income from financial services + Other income Total revenues + Income from insurance results (Salaries and employee benefits + Administrative expenses + Depreciation and amortization) / (Net interest and similar income + Net Ef
Slide 52: Safe Harbor for Forward-Looking Statements
Safe Harbor for Forward -Looking Statements This corporate presentation contains “forward looking statements” within the meaning of the Private Securities Litigation Reform Act of 1955. Other than statements of historical or current facts, all statements included in this presentation regarding IFS’
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Intercorp Financial Services Inc. Common Shares — Q3 2025 Earnings Presentation on 6ix