Intercorp Financial Services Inc. · NYSE:IFS
Intercorp Financial Services — Q1 2026 Earnings Presentation
54 slides from Intercorp Financial Services's earnings presentation, May 12, 2026
Slide 1: 1Q26 IFS earnings presentation
1Q26 IFS earnings presentation is.com.pe
Slide 2: 1Q26 key messages
1Q26 key messages 1 Robust start to the year 2 Positive momentum in higher -yielding loans 3 Sustained improvement in risk - adjusted NIM 19.4% 1Q26 ROE 602 1Q26 Net income IFS +9 % YoY 4.2 % 1Q26 Risk -adjusted NIM S/ mn +90pbs YoY 4 Deepening primary banking relationships 5 Insurance & WM continue
Slide 3: IFS and InRetail completed the acquisition of InFinance XP S.A.
IFS and InRetail completed the acquisition of InFinance XP S.A. ✓ IFS & Inretail acquires 100% of IXP Holding ✓ Purchase price : $130 million InRetail Perú Corp. IFS 50.0% 50.0% ✓ Multiple: 1.19x P/BV IXP Holding 100.0% InFinance XP (previously Financiera Oh!) 3
Slide 4: InFinance XP: strategic partnership to boost our ecosystem
InFinance XP: strategic partnership to boost our ecosystem 2.7 # of clients (mn) Strategic partnership to boost consumer finance, deposits & payments ecosystem Leverage solid financial 1.8 position of IFS with leading retail platform Total loans (S/bn) Superior value proposition through a scalable d
Slide 5: Robust start to the year
_ Robust start to the year
Slide 6: Solid macro outlook supported by sound fundamentals
Solid macro outlook supported by sound fundamentals Quarterly GDP growth YoY (%) Interest rates (%) 3.2 % 2026(E) 4.75 4.0% 3.8% (1) 4.50 3.6% 4.25 3.2% 4.25 4.25 2.8% 4.50 4.50 4.25 3.75 3.75 Mar25 Jun25 Sep25 Dec25 Mar26 1Q25 2Q25 3Q25 4Q25 1Q26E PEN reference rate (BCRP) USD reference rate (FED)
Slide 7: Resilient domestic demand amid rising uncertainty
Resilient domestic demand amid rising uncertainty Private consumption & Confidence index investment growth YoY (%) 3.7 % Internal demand 2026 (E) 10.0 63 51 60 61 Apr26 7.0 59 57 3.6 3.0 50 47 47 47 47 45 Apr26 Private consumption Private investment 1Q25 2Q25 3Q25 4Q25 1Q26 2025 2026E Consumer Confi
Slide 8: YoY earnings drive quarterly ROE to > 19%
Banking +35% ROE 15.5% 343 16.1% 403 19.5% 495 +44% YoY +23% QoQ YoY earnings drive quarterly ROE to > 19% 1Q25 4Q25 1Q26 Insurance IFS quarterly net profit (S/ mn) ROE 58.3% 32.5% 43.3% ROE 16.3% 15.1% 19.4% 105 +14% YoY 92 63 +66% QoQ 602 446 461 1Q25 4Q25 4Q25 Wealth management ROE 14.2% 8.9% 22.
Slide 9: YoY increase in revenues
+10 % Banking NIM IBK 5.2% 5.3% 5.2% 1,314 1,371 1,423 +8% YoY YoY increase +4% QoQ in revenues 1Q25 4Q25 1Q26 Insurance IFS revenues (S/ mn) 612 622 NIM IFS 5.1% 5.0% 5.1% 526 +18% YoY +2% QoQ 2,110 2,180 1,976 1Q25 4Q25 1Q26 Wealth management 114 85 76 +34% YoY 1Q25 4Q25 1Q26 +50% QoQ +3% QoQ |+10
Slide 10: Sustaining best-in-class efficiency while accelerating double-digit IT investment
Sustaining best -in-class efficiency while accelerating double -digit IT investment IFS expenses (S/ mn) IFS expenses breakdown (S/ mn) C/I 35.4% 37.2% 36.6% YoY +19% +15% +11% +13% 826 838 27 838 739 39 33 739 1Q25 Technology Personnel Others 1Q26 1Q25 4Q25 1Q26 1Q25 Technology Personnel Others 1Q2
Slide 11: Positive momentum in higher-yielding loans
Positive momentum in higher -yielding loans
Slide 12: Consistent growth across products and segments
Consistent growth across products and segments Performing loan book (S/ bn) YoY Higher High yielding portfolio -yielding loans (S/ bn) QoQ YoY (1) 48.7 49.7 +5.6% | 6.9% 10.6 10.8 +2% +9% 47.1 9.9 1.7 1.9 +12% +29% 1.4 (1) 44% 45% +5% | +7% 45% 8.9 8.9 +0% +5% 8.5 3% 4% +29% 3% 1Q25 4Q25 1Q26 22% 23
Slide 13: Sustained improvement in risk-adjusted NIM
Sustained improvement in risk-adjusted NIM
Slide 14: -40 bps improvement in cost of risk this quarter
-40 bps improvement in cost of risk this quarter Cost of risk (%) NPL coverage ratio (%) -140 bps CoR YoY 171% 164% 166% 142% 139% 137% 4.1% 83% 77% 73% 3.7% 2.8% 2.7% 1Q25 4Q25 1Q26 Banking Retail Commercial 1.8% 1.3% 1.4% Total NPLs - Stage 3 3.2% 3.1% 2.9% 0.0% 2.5% -0.2% 2.3% 2.2% 1.7% 1.4% 1.4%
Slide 15: +90 bps YoY improvement in risk-adjusted NIM in banking
+90 bps YoY improvement in risk -adjusted NIM in banking Interest -earning assets (S/bn) Yield on assets evolution (%) YoY 78.4 75.8 +7% 73.0 17% +8% 17% 17% 9.9% 9.9% 9.6% 16% 17% +17% 16% 7.9% 7.8% 7.6% 33% 32% 32% +6% 5.2% 5.3% 5.2% 4.0% 4.2% 3.3% 35% 35% 34% +4% 1Q25 4Q25 1Q26 1Q25 4Q25 1Q26 Cas
Slide 16: +40 bps YoY decrease in cost of funds
+40 bps YoY decrease in cost of funds Funding breakdown (S/ bn) Cost of funds and deposits (%) Low -cost funding 35% 40% 40% Ref. rate YoY LTD 94% 92% 92% -50 bps (S/) -75 bps (USD) 66.7 3.2% 63.0 64.7 7% 9% 9% 3.0% 10% 9% 10% 2.8% 39% 38% 39% 2.6% 2.3% 44% 44% 2.2% 41% 1Q25 4Q25 1Q26 1Q25 4Q25 1Q26
Slide 17: Deepening primary banking relationships
Deepening primary banking relationships
Slide 18: Our payments ecosystem as a key driver of low-cost funding
Our payments Individuals ecosystem as a key driver of low -cost funding 84 % Digital retail + 49 % YoY Plin customers transactions Small business Businesses + 40 % YoY Small + 16% Izipay flows to businesses deposits IBK accounts 18
Slide 19: Creating stronger primary banking relationships by delivering a top digital experience
Creating stronger primary banking relationships by delivering a top digital experience Retail Commercial Digital customers +14% YoY retail primary (% of digital customers ) 84 75 82 72 banking customers Mar25 Mar26 Mar25 Mar26 IBK Plin transactions (mn) (1) +49 % NPS Retail NPS Commercial 209 YoY PL
Slide 20: Growing digital engagement across insurance & WM
Growing digital engagement across insurance & WM Interseguro direct digital sales Interseguro digital self -service (Collected premiums – s/mn) (% of total client interaction ) +25% YoY 28 35 69% 70% 1Q25 1Q26 1Q25 1Q26 Interfondos digital transactions Interfondos digital users (% of digital transac
Slide 21: Insurance & WM continue to deliver double-digit growth
Insurance & WM continue to deliver double -digit growth
Slide 22: +15% YoY in long-term insurance
+15% YoY in long -term insurance Long - term insurance (S/ mn) Short -term insurance (S/mn) +8% YoY (CSM stock by business unit) +15% YoY (Insurance PAA net premiums ) 130 133 +3% QoQ +2% QoQ 123 1,104 1,086 956 170 154 150 1Q25 4Q25 1Q26 566 578 494 Results from investments (S/mn) +47% YoY ROI 6.2%
Slide 23: +13% YoY in AUM sustains fee income performance
No Image +13% YoY in AUM sustains fee income performance Assets under management Fee income evolution (US$ bn) +13% YoY (S/ mn) +9 % YoY +2% QoQ Flat QoQ 9.3 9.5 8.4 0.8 0.9 50 50 0.9 46 2.8 2.8 2.3 5.1 5.5 5.6 1Q25 4Q25 1Q26 1Q25 4Q25 1Q26 Inteligo Bank Interfondos Deposits Others (*) Others includ
Slide 24: Takeaways
Takeaways is.com.pe
Slide 25: Focus on growth
Focus on growth Consumer loans (1) Mortgage loans Small business +8 % 11.2 +5 % +29 % 10.3 YoY loans 1Q25 1Q26 YoY Loans YoY Commercial loans (S/ bn) Long -term WM AUMs Insurance (2) +8 % YoY FX adjusted +15% +13% 22.6 24.0 1Q25 1Q26 +6 % YoY reported YoY CSM Stock YoY 1) Excluding payroll deductibl
Slide 26: Operating trends 1Q26
Operating trends 1Q26 Profitability Loans Efficiency Focus on profitability High single digit growth Continued focus on efficiency in total loans IFS ROE IFS C/I 19.4% 5.6 % ~37 % 6.9%* (*) FX adjusted 26
Slide 27: 1Q26 key messages
1Q26 key messages 1 Robust start to the year 2 Positive momentum in higher -yielding 3 Sustained improvement in risk-adjusted loans NIM 4 Deepening primary banking 5 Insurance & WM continue delivering double -digit relationships growth 27
Slide 28: Appendix
Appendix 28
Slide 29: Sustainability update
Sustainability update Environmental Social > 15.6MN > 6,400 > 2,200 Peruvians accesed inclusive insurance 500 MN through Rumbo & Vida Cash in 4Q25. +USD people reached through Global Money Week engaged through our first children’s financial Sustainable loans >37% initiatives targeting youth, educati
Slide 30: Our strategy
Our strategy Growth Customer Centricity To become a leading digital player with profitable growth +35 % YoY IFS net income To build primary banking relationships offering the best digital experience Focus Growing in key businesses 84 %Retail digital clients ~ 14% >30 % ~ 19% MS retail deposits ~ 11%
Slide 31: IFS Key indicators 1Q26
IFS Key indicators 1Q26 ROE NIM 16.3% 15.1% 5.1% 5.0% 1Q25 4Q25 1Q25 4Q25 19.4% 5.1% IFS 1Q26 1Q26 ROA C/I ratio 1.9% 1.9% 35.4% 37.2% 1Q25 4Q25 1Q25 4Q25 2.4% 36.6% 1Q26 1Q26 40 31
Slide 32: IFS Key indicators 1Q26
IFS Key indicators 1Q26 Banking NIM CoR Wealth management AUM (US$ bn) 5.2% 5.3% 2.8% 1.8% 7.5 8.6 1Q25 4Q25 1Q25 4Q25 1Q25 4Q25 5.2% 1.4% 8.6 1Q26 1Q26 1Q26 Insurance ROIP C/I ratio Fees, net (S/ mn) 6.2% 5.0% 38.8% 42.3% 46.0 50.4 1Q25 4Q25 1Q25 4Q25 1Q25 4Q25 8.4% 41.0% 50.1 1Q26 1Q26 1Q26 32
Slide 33: Quarterly performance continues positive evolution
Quarterly performance continues positive evolution 20.7% 850 19.4% 18.2% 750 16.3% 18.0% 15.1% 15.6% 15.1% 602 650 63 11.2% 13.0% 550 580 105 490 446 456 461 117 52 24 450 390 72 37 63 8.0% 5.6% 38 33 76 92 350 286 81 67 250 79 3.0% 495 141 401 403 150 26 348 343 328 299 140 -2.0% 221 50 -50 -7.0% 1
Slide 34: Growth in credit cards and personal loans seasonally softer
Growth in credit cards and personal loans seasonally softer Personal loans Credit cards and personal loans (S/ bn) disbursements (QoQ trend ) +0.6 % +2.0 % +2.3 % +0.2 % +49 % YoY Mar26 8.9 8.9 Credit cards 8.7 8.5 8.5 turnover 1Q25 2Q25 3Q25 4Q25 1Q26 +18% YoY Mar26 18
Slide 35: Small businesses delivering profitable growth momentum
Small businesses delivering profitable growth momentum Loans (S/ bn) +29 % YoY 1.9 1.7 1.4 1Q25 4Q25 1Q26 Deposits (S/ bn) +40 % YoY 2.9 2.6 2.1 1Q25 4Q25 1Q26 19
Slide 36: YoY increase in fee income
+2 % YoY increase in fee income Retail C ommercial IFS fee income (S/ mn) +10 % YoY +5 % YoY 296 302 Izipay WM 1Q25 1Q26 -19% YoY +9 % YoY +2 % YoY 36
Slide 37: YoY increase in results from financial transactions
+30 % Banking 157 157 198 +26 % QoQ YoY increase in results from +26 % YoY financial transactions 1Q25 4Q25 1Q26 IFS (S/ mn) Insurance 120 61 68 -43 % QoQ 339 +13% YoY 304 1Q25 4Q25 1Q26 261 Wealth management 52 +4.3 x QoQ 22 1Q25 4Q25 1Q26 12 +2.4 x YoY +12% QoQ | +30 % YoY 1Q25 4Q25 1Q26 37
Slide 38: Continued improvement in funding mix
Continued improvement in funding mix Low -cost funding (%) (1) Low -cost funding (S/bn) YoY 40.1% 26.4 +20.0% 22.0 +3.6% 1.7 -8.0 % 35.3% 1.8 8.9 +26.9% 7.0 15.2 12.5 +21.1% 1Q25 1Q26 1Q25 1Q26 Retail Commercial Institutional Other 1) Low cost funding as a % of total funding . Low -cost funding incl
Slide 39: Customer base growth continues across businesses
Customer base growth continues across businesses Banking Insurance Wealth management customers (mn) customers (mn) customers (th) +6 % +1% +8 % YoY YoY YoY 5.3 5.6 3.2 93 3.3 85 Mar25 Mar26 Mar25 Mar26 Mar25 Mar26 39
Slide 40: Strong asset quality, CoR at 1.4%
Strong asset quality , CoR at 1.4% Impairments loss on loans , net (S/ mn) S2+S3 ratio & S3 NPL ratio (%) & Cost of risk (%) 430 3.0% 2.8% 380 2.5% 10.1% 2.5% 9.7% 330 2.1% 280 1.8% 2.0% 7.8% 230 1.4% 1.5% 180 343 308 130 257 1.0% 229 2.5% 184 2.3% 2.2% 80 0.5% 30 -20 0.0% 1Q25 2Q25 3Q25 4Q25 1Q26 1
Slide 41: Sound capitalization levels
Sound capitalization levels Banking Insurance TCR CETI ratio 135.9% 120.4% 127.4% Banking 100% System 15.9% 17.5% Reg. min. TCR 17.2% 1Q25 4Q25 1Q26 16.0% 15.5% 12.5% 11.6% 11.7% 13.6% Reg. min. Wealth management 8 .4% Reg. min. 21.7% 22.3% 19.3% 12% Reg. min. 1Q25 4Q25 1Q26 1Q25 4Q25 1Q26 1Q25 4Q25
Slide 42: Banking market share evolution
Banking market share evolution Total banking Total commercial Consumer 10.9 11.0 20.5 18.7 13.8 13.6 Mar -25 Mar -26 Mar -25 Mar -26 Mar -25 Mar -26 Mid-sized companies Small businesses Mortgages 3.9 4.2 15.8 16.0 10.0 10.2 Mar -25 Mar -26 Mar -25 Mar -26 Mar -25 Mar -26 Source : SBS 42
Slide 43: Manageable dollarization levels at Interbank
Manageable dollarization levels at Interbank Total loans Retail loans Commercial loans % PEN 73% 73% 93% 94% 60% 59% System 4% 4% 25% 27% 49% 53% 96% 96% 75% 73% 51% 47% 1Q25 1Q26 1Q25 1Q26 1Q25 1Q26 Retail loans breakdown Commercial loans breakdown Consumer Mortgages Corporate Medium Small & Micro
Slide 44: IFS P&L 1Q26
IFS P&L 1Q26 Intercorp Financial Services' P&L statement S/ million %chg %chg 1Q25 4Q25 1Q26 QoQ YoY Interest and similar income 1,729.6 1,719.2 1,776.9 3.4% 2.7% - Interest and similar expenses -570.7 -542.2 0.1% -4.8% 543.0 Net interest and similar income 1,158.9 1,177.0 1,233.9 4.8% 6.5% Impairme
Slide 45: IFS statement of financial position 1Q26
IFS statement of financial position 1Q26 Intercorp Financial Services' Statement of financial position S/ million %chg %chg 1Q25 4Q25 1Q26 QoQ YoY Assets Cash and due from banks and inter-bank funds 13,249.9 14,076.0 14,412.7 2.4% 8.8% Financial investments 26,810.7 28,173.8 29,652.5 5.2% 10.6% Loan
Slide 46: Banking P&L 1Q26
Banking P&L 1Q26 Banking Segment's P&L Statement S/ million %chg %chg 1Q25 4Q25 1Q26 QoQ YoY Interest and similar income 1,442.2 1,455.9 1,458.3 0.2% 1.1% - Interest and similar expense -497.9 -472.0 -1.9% -7.0% 462.9 Net interest and similar income 944.3 983.8 995.4 1.2% 5.4% Impairment loss on loa
Slide 47: Banking statement of financial position 1Q26
Banking statement of financial position 1Q26 Banking Segment' Statement of financial position S/ million %chg %chg 1Q25 4Q25 1Q26 QoQ YoY Assets Cash and due from banks and inter-bank funds 12,121.0 12,957.6 13,105.7 1.1% 8.1% Financial investments 11,456.8 11,960.4 13,398.6 12.0% 16.9% Loans, net o
Slide 48: Insurance P&L 1Q26
Insurance P&L 1Q26 Insurance Segment's P&L Statement S/ million %chg %chg 1Q25 4Q25 1Q26 QoQ YoY Interest and similar income 258.2 226.3 309.7 36.8% 19.9% Interest and similar expenses -49.5 -47.6 -57.9 21.6% 16.9% Net Interest and similar income 208.7 178.7 251.8 40.9% 20.6% Impairment loss on loan
Slide 49: Insurance statement of financial position 1Q26
Insurance statement of financial position 1Q26 Insurance Segment' Statement of financial position S/ million %chg %chg 1Q25 4Q25 1Q26 QoQ YoY Assets Cash and due from banks and inter-bank funds 442.2 491.4 482.5 -1.81% 9.11% Financial investments 13,551.40 14,264.00 14,552.20 2.02% 7.39% Property, f
Slide 50: Wealth Management P&L 1Q26
Wealth Management P&L 1Q26 Wealth Management Segment's P&L Statement S/ million %chg %chg 1Q25 4Q25 1Q26 QoQ YoY Interest and similar income 40.6 36.7 34.6 -5.7% -14.6% Interest and similar expenses -23.8 -23.5 -23.4 -0.6% -1.8% Net interest and similar income 16.7 13.2 11.3 -14.8% -32.8% Impairment
Slide 51: Wealth Management statement of financial position 1Q26
Wealth Management statement of financial position 1Q26 Wealth Management Segment' Statement of financial position S/ million %chg %chg 4Q24 3Q25 4Q25 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% Loa
Slide 52: 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 53: 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 — Q1 2026 Earnings Presentation on 6ix