54 slides from Intercorp Financial Services's earnings presentation, December 2025
Slide 1: IFS Investor presentation
IFS Investor presentation December 20 25
Slide 2: IFS at a glance
IFS at a glance 1
Slide 3: Leading financial platform
Leading financial platform Financial highlights Leading indicators As of September 30, 2025 S/ mn | US$ mn Assets 97,128 | 27,991 ~ 20 % MS consumer loans ~ 11% MS commercial loans ~ 15% MS retail deposits Gross loans 51,558 | 14,858 Deposits 53,610 | 15,450 ISG investments 14,264 | 4,111 83 % Retai
Slide 4: Our strategy
Our strategy Growth To become a leading digital player with profitable growth Customer To build primary relationships Centricity offering the best digital experience Focus To grow with focus on key businesses 3
Slide 5: Strategic focus on key businesses
Strategic focus on key businesses Banking Insurance Wealth management Universal bank with distinctive focus Insurance company focused Advisory firm for the through a balanced portfolio on life & annuities emerging wealthy ~14% ms total loans +30% ms annuities (1) +13 YoY AUM Interfondos Commercial R
Slide 6: IFS: a world-class company
IFS: a world -class company IFS customers 7 mn +8 k employees Soluciones digitales 5
Slide 7: ESG
Sustainability as part of our strategic pillars, positively impacting our stakeholders ESG Foster respect Responsible for the environment social practices Sustainability culture 78 CSA Score 2025 Reinforce corporate governance, transparency and ethics Encourage inclusion, equality and diversity 6
Slide 8: IFS is part of the Intercorp Group
IFS is part of the Intercorp Group Financials Retail Education Health Entertainment Corporate services 7
Slide 9: Key investment highlights
Key investment highlights 1 Peruvian economy among the strongest in the region 2 Consistent growth boosted by new opportunities 3 Resilient financial performance 4 Focus on primary relationships through our payment’s ecosystem 5 Powerful digital platform, driven by constant innovation 8
Slide 10: Peruvian economy among the strongest in the region
Peruvian economy among the strongest in the region 9
Slide 11: Peru at a glance
Peru at a glance PBI 2026E Domestic demand Main export 2026E products 3.0% 3.5% Copper Gold Agro 32% 20% 14% Debt to GDP Risk Rating Net international Loans to GDP 2026E reserves to GDP S&P BBB - 31% Moody’s Fitch Baa1 BBB 28% 33% 10
Slide 12: Stable economic indicators with positive outlook
Stable economic indicators with positive outlook GDP growth YoY (%) Inflation YoY (%) 8.5% 13.4% 6.4% 4.0% 2.2% 2.7% 3.3% 3.3% 3.2% -0.6% 2.2% 1.9% 2.0% 2.0% 1.5% -10.9% 2018 2019 2020 2021 2022 2023 2024 2025E 2018 2019 2020 2021 2022 2023 2024 2025E Internal Demand YoY (%) Public and Private Inves
Slide 13: Peru is well positioned compared to LATAM peers
Peru is well positioned compared to LATAM peers Expected GDP 202 6 growth (%) Latam GDP Avg . inflation 2021 -202 5 (%) (*) 3.0% As of Nov25 1.4 % 3.4% 4.5% 3.8% 5.3% 3.0% 2.8% 2.3% 6.0% 6.3% 1.7% 5.2% 1.3% 3.7% 3.8% Peru Chile Brazil Mexico Colombia Peru Chile Brazil Mexico Colombia Exchange rate e
Slide 14: Consistent growth boosted by new opportunities
Consistent growth boosted by new opportunities 13
Slide 15: Opportunity: underpenetrated and profitable financial system in LATAM
Opportunity: underpenetrated and profitable financial system in LATAM Loans penetration Formal savings (Loans to GDP) (% of adult population ) 88% 39% 31% 25% 33% 42% 42% 17% 21% Peru Chile Brazil Mexico Colombia Peru Brazil Mexico Colombia Account ownership rate Insurance premiums penetration (% of
Slide 16: Focusing growth in key businesses
Focusing growth in key businesses Retail loans (S/ bn) Long -term +2 % YtD consumer loans (1) Insurance (2) 25.2 +4 % +19% 24.4 3Q24 3Q25 YoY +8 % YoY affluent loans YoY CSM stock Commercial loans (3) (S/ bn) WM AUMs +33 % YoY small businesses +7% 23.1 21.6 3Q24 3Q25 YoY +5 % YoY mid-sized businesse
Slide 17: Interbank becomes the third-largest player in Peru's banking sector
Interbank becomes the third -largest player in Peru’s banking sector MS total assets #3 12.7% 13.8% 13.5% #1 Payroll deductible #2 loans (1) Dec-19 Set-24 Set-25 Consumer loans #3 MS t otal loans #2 13.8% 13.7% 112.6% Sales finance Dec-19 Set-24 Set-25 (*) Source : SBS (1) Among private banks 16
Slide 18: Key products growing faster than the market
Key products growing faster than the market Interbank total gross loans (S/ bn) MS commercial banking loans MS mid-sized banking loans 10.6% 10.8% 48.3 8.4% 9.3% 8.9% 7.0% 45.9 35.5 48% 47% Dic-19 Dec -19 Set-24 Set-25 Dic-19 Dec -19 Set-24 Set-25 46% 22% 22% MS mortgage loans 20% 13% 12% 15.8% 15.9
Slide 19: Resilience in consumer loans, gradual recovery ahead
Resilience in consumer loans, gradual recovery ahead Consumer loans (S/ bn) COVID -19 2025: Recovery Year 2023 : +3% YoY (September) Social unrest and Yaku (1) Food Domestic GDP: inflation : demand : -0.6% 11% -2.3% 3Q24: Pension fund withdrawals 10.4 10.8 10.6 10.0 9.7 9.3 8.9 7.9 8.5 8.5 8.5 8.5 8
Slide 20: Focused on enhancing our funding mix
Focused on enhancing our funding mix Interbank total deposits (S/ bn) MS total deposits MS retail deposits 15.4% 13.3% 13.9% 13.4% Low -cost 28% 36% 36% 14.4% funding (*) 13.5% 51.4 51.2 Dec-19 Set-24 Set-25 Dec-19 Set-24 Set-25 35.6 48% 49% Float from IZIPAY (S/ mn) Financial stores -50% 55% 2,135
Slide 21: Insurance strengthen its position in key segments
Insurance strengthen its position in key segments MS private annuities (%) MS annuities (%) #1 #1 21.0% 23.4% 12.6% Jun-21 Dec -19 Set-24 Set-25 MS individual life (%) 28.9% 30.6% 30.5% #3 17.5% 16.0% 10.3% Dec-19 Set-24 Set-25 Dec-19 Set-24 Set-25 20
Slide 22: Resilient financial performance
Resilient financial performance 21
Slide 23: Recovering risk-adjusted profitability
Recovering risk -adjusted profitability Banking – Interest -earning assets (S/ bn) NIM evolution 73.0 73.8 15% 16% 52.4 18% 16% 11% 19% 10.8% 10.5% 10.0% 67% 69% 70% Dec -19 4Q19 Set -24 3Q24 3Q25 Set -25 Loans Cash and due from banks Financial Investments 5.4% 5.3% 5.2% Funding breakdown (S/ bn) 4.
Slide 24: Disciplined risk management culture
Disciplined risk management culture System IBK PDLs vs system IBK Cost of risk (%) FY19 Retail : 4.1% 3.4% 3.6% 3.2% Commercial : 0.0% Retail 3.0% 3.2% 2.9% Total: 2.2% 1.7% 2.5% 1.8% Commercial 3.0% 4.7% 3.8% 5.3% 5.2% 2.6% 3.1% 2.5% Total 3.0% 4.2% 3.4% 4.1% 4.2% 4.0% Dec -19 Set -24 Set -25 3.1%
Slide 25: Solid AUM growth drives Inteligo's core performance
Solid AUM growth drives Inteligo’s core performance Fee income evolution (S/ mn) Assets under management +16% YoY (US$ bn) +6.9 % +1% QoQ 5Y CAGR 7.8 8.1 50 50 43 2.4 2.6 5.5 1.5 5.2 5.4 4.0 3Q24 2Q25 3Q25 4Q19 2Q24 3Q25 Inteligo Bank Interfondos Fees/ AuM 0.7% 0.7% 0.7% 24
Slide 26: +19% YoY 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: Efficiency remains a top priority: sound efficiency ratio
Efficiency remains a top priority : sound efficiency ratio IFS expenses (S/ mn) Banking expenses (S/ mn) C/I 38.9% 38.9% 39.1% 40.7% C/I 34.4% 37.4% 38.0% 36.7% 2,057 1,612 1,528 1,654 2,900 2019 2024 9M24 9M25 +5% CAGR +8% YoY 2,337 1,978 2,153 Banking expenses breakdown (S/ mn) YoY +9% +8% +8% +8%
Slide 28: Earnings resilience throughout the credit cycle
Earnings resilience throughout the credit cycle ROE % 18% 18% 5% 20% 19% 11% 12% 17% +87% Net income (S/. mn) 1,800 vs 9M24 1,678 1,450 1,482 1,307 1,091 1,079 384 2018 2019 2020 2021 2022 2023 2024 9M25 Dividend per Share (US$) 1.75 1.75 0.77 1.75 1.18 1.00 1.00 Payout Ratio 61% 46% 85% 45% 31% 40%
Slide 29: Sound capitalization levels
Sound capitalization levels Banking Insurance TCR CETI ratio 126.9% 130.3% 124.2% Banking 100% System 15.9% 15.9% 17.5% Reg. min. TCR 16.9% 15.9% 15.8% 3Q24 2Q25 3Q25 13.6% 12.2% 12.1% Reg. min. 11.7% Wealth management 8 .4 % Reg. min. 21.1% 17.8% 19.2% 12% Reg. min. 3Q24 2Q25 3Q25 3Q24 2Q25 3Q25 3Q
Slide 30: Focus on primary relationships through our payment's ecosystem
Focus on primary relationships through our payment’s ecosystem 29
Slide 31: 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) + 38 % YoY PLIN 179 130 transactions >26 % 56 MS credit NPS retail 3Q24 3Q25 cards
Slide 32: Through our powerful payments ecosystem
… through our powerful payments ecosystem Pay everywhere , with Grow your business We optimize your your mobile phone with our solutions cash management Acquiring User Merchant Enterprise 31
Slide 33: 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 32
Slide 34: Driving innovation with a powerful digital platform
Driving innovation with a powerful digital platform 33
Slide 35: Full-scale digital platform to address our customers' digital needs
Payments Full-scale digital Plin platform to IzipayYa Savings address our 100% Piggy My Izipay finances bank customers ’ digital account Insurance needs SOAT digital Lending TC 360° Digital financing Life insurance Line BNPL management Marketplace Cuenta Sueldo Investments Marketplace Inteligo SAB E
Slide 36: Customer base growth continues across businesses
Customer base growth continues across businesses Banking (mn) Wealth management – +4% YoY customers (th) +6% YoY 5.3 5.5 83 89 Set-24 Set-25 Set-24 Set-25 Insurance – customers (mn) +6% YoY ~7 mn Unique clients IFS 3.0 3.2 Jun-24 Jun-25 35 (1) New methodology
Slide 37: Digital capabilities drive our banking business forward
Digital capabilities drive our banking business forward… Digital clients (%) Digital self service (%) Clients (mn) +37 % 4.0 5.5 vs Dec19 83 % 82 % Plin transactions (mn) +8.1x 2019 Set-25 vs 1Q23 Branches -44 % vs Dec19 179 255 143 22 2019 Set-25 1Q23 3Q25 36
Slide 38: Providing a world-class experience
… providing a world -class experience Digital customers Retail digital self -service NPS Retail (% of digital customers ) (% of digital self -service) (Points – Retail Banking ) 80 83 82 61 54 57 76 65 69 Jun-24 Jun-25 Oct-25 Dec-21 Set-24 Set-25 Dec-21 Set-24 Set-25 Retail digital sales (% of produ
Slide 39: 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 ) 55% 30% 50% 25% 34% 9% 4Q21 3Q24 3Q25 Dec-21 Set-24 Set-25 38 38
Slide 40: 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 +11%YoY 39
Slide 41: Key takeaways
40 Key takeaways 40
Slide 42: Operating trends 9M 2025
Operating trends Capital Profitability Loans 9M 2025 To remain at sound levels IBK TCR 15.8% Continued path to recovery IFS ROE High single digit growth in total loans IBK CETI 12.1% 17.4% 5.1% Revenues Cost of risk Efficiency Slight recovery NIM Sound cost of risk Continued focus on efficiency IBK
Slide 43: Takeaways
Takeaways 1 Peruvian economy among the strongest in the region 2 Consistent growth boosted by new opportunities 3 Resilient financial performance 4 Focus on primary relationships through our payment’s ecosystem 5 Powerful digital platform, driven by constant innovation 42
Slide 44: Appendix
Appendix
Slide 45: Diversified financial platform
Diversified financial platform Net Income by segment (S/. bn) Banking Insurance Wealth management % of 18% 14% 3% 10% IFS 93% 85% 79% 77% nm, 9% 27% 15% 1229 292 198 200 1011 1007 202 856 137 130 -61 36 2018 2019 2023 2024 2018 2019 2023 2024 2018 2019 2023 2024 ROE 20% 21% 11% 12% n.m. 15% 73% 42%
Slide 46: 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% 580 490 456 500 446 10.0% 5.6% 25.8% 72 37 117 52 390 38 5.0% 42.8% 400 92 33 76 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 47: Quarterly ROE to ~16%
+17% Banking ROE 14.4% 14.4% 16.8% +34% YoY YoY earnings drive 299 328 401 +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) 81 -44% YoY 67 38 -53% QoQ 580 -S/78mn RDL 456 3Q24 2
Slide 48: 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% 3Q25 4.0% +9 % YoY Sep25 47
Slide 49: NIM and risk-adjusted NIM evolution
NIM and risk-adjusted NIM evolution 11.2% 10.9% 10.8% 10.6% 10.5% 10.3% 10.0% 9.9% 9.9% 9.4% 9.0% 7.9% 6.2% 5.6% 5.5% 5.3% 5.2% 5.3% 5.3% 5.2% 5.1% 5.2% 3.6% 4.9% 4.6% 2019 risk- 4.0% 4.3% 4.0% adjusted NIM 4.7% 3.5% 3.8% 4.1% 3.7% 3.5% 3.4% 4.0% 3.3% 4.0% 3.0% 2.0% 3.4% 2.5% 3.6% 3.2% 3.1% 3.2% 3.2
Slide 50: Improvement in funding mix
Improvement in funding mix Low -cost funding (%) (1) Low -cost funding (S/bn) YoY 35.5% 35.9% +2.3% 22.0 22.5 +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 51: Loan growth evolution (S/ mn)
Loan growth evolution (S/ mn) 5 year CAGR +6 % 46,921 48,324 44,049 41,525 18% 17% 36,794 16% 34,964 15% 33,276 15% 15% 27% 27% 15% 26% 27% 28% 28% 29% 22% 22% 23% 22% 20% 23% 23% 11% 12% 12% 12% 12% 12% 13% 22% 23% 22% 18% 17% 18% 20% 2019 2020 2021 2022 2023 2024 Set-25 Consumer Payroll deductible
Slide 52: Sustainability update
Sustainability update Environmental Social +USD 348 mn >1,2M >1800 Entrepreneurs actively using Peruvians accesed inclusive Sustainable loans UN Global Compact izipayYA insurance through Rumbo & recognition: “Voces!” (anti - Vida Cash in 3Q25 Interbank #5 workplace sexual harassment +10 hours Traini
Slide 53: Strong corporate governance
Strong corporate governance BOD with independent members Board of directors 4 6 Strong corporate governance Highly supervised related party exposure , well below regulatory limits Independent Independent Governance in accordance with NYSE members members and SEC Participation in S&P Global Corporate
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