Intercorp Financial Services (IFS) Q3 2025 earnings summary

Executive summary

• Net profit for the first nine months of 2025 increased by 81% year-over-year, with Q3 net income at S/456 million and ROE at 17.4% (18.3% excluding Rutas de Lima one-off).

• Strong business momentum driven by higher-yielding loans, improved risk-adjusted NIM, and double-digit growth in insurance and wealth management.

• Digital transformation advanced, with 83% of retail clients using digital channels and digital sales at 68%.

• Peru's economy grew 3.3% YTD, supported by consumption, private investment, and stable inflation.

• Maintained prudent outlook amid global and political uncertainties, but expect continued growth due to strong fundamentals.

Financial highlights

• Q3 net income reached S/456 million, up 17% year-over-year, with ROE around 16%.

• Higher-yielding loans grew 7% year-over-year and 3% sequentially; total loan portfolio expanded over 5% year-over-year.

• Fee income up 8% year-over-year, driven by retail and commercial banking activity.

• Risk-adjusted NIM increased 40 bps in the quarter to 3.8%, with cost of risk at 2.1%.

• Efficiency ratio improved to 36.7% for 9M25.

Outlook and guidance

• Year-end ROE expected near 17%, subject to Rutas de Lima impact.

• Loan growth for 2025 and 2026 projected to remain above system average, with consumer and credit card loans expected to outpace GDP growth.

• NIM anticipated to recover slightly, supported by higher-yielding segments and lower funding costs.

• Focus remains on efficiency, digital transformation, and sustainable growth across all segments.

• Cost of risk expected to stay below guidance, offsetting margin pressures.