Intercorp Financial Services Inc. · NYSE:IFS
Intercorp Financial Services — Q2 2026 Earnings Presentation
54 slides from Intercorp Financial Services's earnings presentation, Aug 12, 2026
Slide 1: 2Q26 IFS earnings presentation
2Q26 IFS earnings presentation 1 is.com.pe
Slide 2: 2Q26 key messages
2Q26 key messages 1 Consistently delivering strong profitability 2 Accelerating growth in higher -yielding loans 3 Resilient risk -adjusted margins 18.5% 2Q26 ROE 585 2Q26 Net income IFS + 12% YoY 3.5 % 2Q26 Risk -adjusted NIM S/ mn +10pbs YoY 4 Strengthening primary banking relationships 5 Insuranc
Slide 3: Consistently delivering strong profitability
Consistently delivering strong profitability 3
Slide 4: Resilient growth within temporary inflationary pressures
Resilient growth within temporary inflationary pressures Quarterly GDP growth YoY (%) Interest rates (%) 3.4 % 2026E 4.50 3.8% 3.6% 4.25 3.2% (1) 4.25 4.25 4.25 2.8% 2.8% 4.50 4.25 3.75 3.75 3.75 Jun25 Sep25 Dec25 Mar26 Jun26 2Q25 3Q25 4Q25 1Q26 2Q26E PEN reference rate (BCRP) USD reference rate (Fe
Slide 5: Investment outlook supported by strong confidence
Investment outlook supported by strong confidence Private consumption & Confidence index investment growth YoY (%) 69 65 12.5 61 60 10.0 58 57 51 51 47 47 47 47 Jul26 3.6 3.6 45 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 Private consumption Private investment Business Confidence Index (BCRP) Consumer Confidence
Slide 6: S/ 585 mn net income in 2Q26 with 18.5% ROE
Banking S/ 585 mn ROE 14.4% 19.5% 15.6% 495 403 +23% YoY 328 -19% QoQ earnings in 2Q26 with 18.5% ROE 2Q25 1Q26 2Q26 Insurance IFS quarterly net profit (S/ mn) ROE 47.5% 43.3% 42.9% 18.5% 119 ROE 20.7% 19.4% 81 105 +47% YoY +13% QoQ 580 602 585 2Q25 1Q26 2Q26 Wealth management ROE 43.9% 22.0% 24.9%
Slide 7: YoY earnings drive ROE to ~19%
Banking +16% ROE 14.9% 671 17.4% 898 +34% YoY YoY earnings drive ROE to ~19% 1H25 1H26 Insurance IFS accumulated net profit (S/ mn) ROE 54.2% 43.9% 224 ROE 18.4% 18.9% 173 +29% 1,187 YoY 1,026 1H25 1H26 Wealth management ROE 29.2% 23.8% 154 134 -13% 1H25 1H26 YoY +16% YoY 1H25 1H26 7
Slide 8: YoY increase in revenues
+3 % Banking NIM IBK 5.1% 5.2% 4.9% 1,300 1,423 1,412 +9% YoY YoY increase in -1% QoQ revenues 2Q25 1Q26 2Q26 Insurance IFS revenues (S/ mn) 622 564 NIM IFS 4.9% 5.1% 5.0% 472 +19% YoY -9% QoQ 2,086 2,180 2,148 2Q25 1Q26 2Q26 Wealth management 179 -31% YoY 123 2Q25 1Q26 2Q26 114 +8% QoQ +3% YoY -1%
Slide 9: Sustaining best-in-class efficiency
Sustaining best -in-class efficiency IFS expenses (S/ mn) IFS expenses breakdown (S/ mn) YoY +13% +17% +6% +11% C/I 35.7% 37.2% 1,694 1,527 37 1,694 71 59 1,527 1H25 1H26 1H25 Technology Personnel Others 1H26 +11% YoY 9
Slide 10: Accelerating growth in higher-yielding loans
Accelerating growth in higher -yielding loans 10
Slide 11: High-yield segments regain momentum
High -yield segments regain momentum Cash loans High yield segment (S/ bn) disbursements (QoQ trend ) +2.0 % +5.6 % QoQ YoY +37 % YoY Jun26 +1.9% +3.0 % +6% +12% 11.3 Credit cards 10.6 10.7 turnover 10.1 10.3 1.5 1.6 1.7 1.8 2.0 +12% +5% +31% +9% +21% YoY Jun26 8.9 8.9 9.3 8.5 8.7 Small businesses d
Slide 12: Positive trend both in commercial and retail banking
Positive trend both in commercial and retail banking Performing loan book (S/ bn) YoY (1) 48.2 49.7 51.0 +6% | 7% (1) 46% 45% 45% +3% | +6% 3% 4% 4% +31% 22% 23% 22% +8% 18% 18% 18% +9% 12% 11% 11% -1% 2Q25 1Q26 2Q26 Payroll deductible loans Consumer loans Mortgages Small businesses Commercial 1) FX
Slide 13: Resilient risk-adjusted margins
Resilient risk-adjusted margins 13
Slide 14: Asset quality remains sound as cost of risk normalizes
Asset quality remains sound as cost of risk normalizes Cost of risk (%) NPL coverage ratio (%) 1.8% CoR 1H26 164% 166% 167% -86bps YoY 141% 137% 143% 90% 86% 73% 4.2% 3.3% 2Q25 1Q26 2Q26 Banking Retail Commercial 2.7% 2.5% 2.1% 1.4% Total NPLs - Stage 3 0.8% 3.3% 0.6% 2.9% 2.8% 0.0% 2.5% 2.2% 2.1% 1
Slide 15: +10 bps YoY improvement in risk-adjusted NIM
+10 bps YoY improvement in risk -adjusted NIM Interest -earning assets (S/bn) YoY Yield on assets evolution (%) 3.9 % Risk -adjusted NIM 80.8 +8% 1H26 78.4 74.5 17% 18% +25% 16% 9.9% 9.6% 9.6% 17% 16% +6% 16% 7.9% 7.6% 7.5% 33% 32% 32% +4% 5.1% 5.2% 4.9% 4.2% 3.4% 3.5% 35% 34% 34% +6% 2Q25 1Q26 2Q26
Slide 16: -20 bps YoY decrease in cost of funds
-20 bps YoY decrease in cost of funds Funding breakdown (S/ bn) Cost of funds and deposits (%) Ref. rate YoY Low -cost -25 bps (S/) funding 34% 40% 37% -75 bps (USD) LTD 94% 92% 91% 69.3 64.7 66.7 7% 2.9 % 9% 3.2% CoF 1H26 9% 12% 11% 3.0% -30bps YoY 10% 2.8% 2.6% 40% 40% 2.4% 39% 2.2% 41% 40% 41% 2Q
Slide 17: Strengthening primary banking relationships
Strengthening primary banking relationships 17
Slide 18: Higher transactionality continues to support low-cost funding
Higher transactionality continues to support low-cost funding Payments Individuals + 48 % YoY float from 86 % + 44 % Digital retail customers YoY Plin transactions IBK -Izipay Small businesses + 39 % YoY Izipay flows to + 32 % IBK accounts YoY Small businesses deposits 18
Slide 19: Creating stronger primary banking relationships
Creating stronger primary banking relationships Retail Commercial Digital customers +16% YoY retail primary (% of digital customers ) 86 76 84 74 banking customers Jun25 Jun26 Jun25 Jun26 IBK Plin transactions (th) (1) 234 +44 % NPS Retail NPS Commercial YoY PLIN (Points – Retail Banking ) (Points –
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 ) +27% YoY 69 73 28 35 2Q25 2Q26 2Q25 2Q26 Interfondos digital transactions Interfondos digital users (% of digital transacti
Slide 21: Insurance & WM continue to deliver strong growth
Insurance & WM continue to deliver strong growth 21
Slide 22: +10% YoY in long-term insurance
+10 % YoY in long -term insurance Long - term insurance (S/ mn) Short -term insurance (S/mn) +8% YoY (CSM stock by business unit) +10% YoY (Insurance PAA net premiums ) -1% QoQ +0.5% QoQ 133 131 122 1,104 1,109 1,005 131 154 150 2Q25 1Q26 2Q26 578 592 534 Results from investments (S/mn) +28 % YoY RO
Slide 23: +14% YoY AUM growth drives a new record high
No Image +14% YoY AUM growth drives a new record high Assets under management Fee income +3 % YoY (US$ bn) +14% YoY evolution (S/ mn) +4% QoQ +7% (2) YoY 9.9 9.5 50 51 8.7 50 0.9 0.9 0.9 2.8 2.9 2.4 5.2 5.6 5.8 2Q25 1Q26 2Q26 2Q25 1Q26 2Q26 Inteligo Bank Interfondos Deposits Others ⁽¹⁾ (1) Others in
Slide 24: Takeaways
Takeaways 24 is.com.pe
Slide 25: Focus on growth
Focus on growth Retail loans Consumer loans (1) Small business +7% +31% 26.3 +9 % 24.7 2Q25 2Q26 YoY Loans YoY loans YoY Commercial loans (S/ bn) Long -term WM AUMs + +7% Insurance (2) deposits YoY FX adjusted 24.7 +10 % +14% 23.6 2Q25 2Q26 +5 % YoY reported YoY CSM Stock YoY 1) Excluding payroll de
Slide 26: Operating trends 1S26
Operating trends 1S26 Profitability Loans Efficiency Focus on profitability High single digit growth Continued focus on efficiency in total loans IFS ROE IFS C/I 18.9% 5.7 % ~37 % 6.8%* (*) FX adjusted 26
Slide 27: 2Q26 key messages
2Q26 key messages Consistently Accelerating Resilient risk - delivering strong growth in adjusted higher -yielding margins profitability loans Strengthening Insurance & WM primary banking continue to deliver relationships strong growth 27
Slide 28: Appendix
Appendix 28
Slide 29: Sustainability update
Sustainability update Governance Social INpulso Financiero Ranked Launched our (phase 2) #1 Interbank, #6 Online financial 100% +194K 9° grade Interseguro , #19 literacy program Inteligo for women of business units are developing Responsible AI policies Peruvian businesses use the curriculum at Inno
Slide 30: Our strategy
Our strategy Growth Customer Centricity To become a leading digital player with profitable growth +16% 1S26 YoY IFS net income To build primary banking relationships offering the best digital experience Focus Growing in key businesses 86 %Retail digital clients ~ 15% >31% ~ 18% MS retail deposits ~
Slide 31: IFS Key indicators 2Q26
IFS Key indicators 2Q26 ROE NIM 20.7% 19.4% 4.9% 5.1% 2Q25 1Q26 2Q25 1Q26 18.5% 5.0% IFS 2Q26 2Q26 ROA C/I ratio 2.4% 2.4% 35.9% 36.6% 2Q25 1Q26 2Q25 1Q26 2.3% 37.8% 2Q26 2Q26 31
Slide 32: IFS Key indicators 2Q26 by segment
IFS Key indicators 2Q26 Banking NIM CoR Wealth management AUM (US$ bn) 5.1% 5.2% 2.5% 1.4% 7.8 8.6 2Q25 1Q26 2Q25 1Q26 2Q25 1Q26 4.9% 2.1% 9.0 2Q26 2Q26 2Q26 Insurance ROIP C/I ratio Fees, net (S/ mn) 6.1% 8.4% 42.3% 41.0% 49.6 50.1 2Q25 1Q26 2Q25 1Q26 2Q25 1Q26 7.1% 42.5% 50.9 2Q26 2Q26 2Q26 32
Slide 33: Quarterly performance continues positive evolution
Quarterly performance continues positive evolution 20.7% 19.4% 18.2% 18.5% 16.3% 15.6% 15.1% 15.1% 602 63 585 11.2% 580 490 456 461 105 71 446 72 117 52 24 119 390 37 63 38 33 76 92 81 286 67 79 495 401 403 403 348 343 328 299 221 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 Interbank Interseguro In
Slide 34: YoY increase in 1H26 revenues
+7 % Banking NIM IBK 5.1% 5.0% 2,835 2,614 +8% YoY increase in YoY 1H26 revenues 1H25 6M26 Insurance IFS revenues (S/ mn) NIM IFS 5.0% 5.0% 999 1,186 +19% YoY 4,328 1H25 1H26 4,062 Wealth management 264 237 -10% 1H25 1H26 YoY +7% YoY 1H25 1H26 34
Slide 35: YoY increase in 1H26 fee income
+5 % YoY increase in 1H26 fee income Commercial Retail IFS fee income (S/ mn) 595 623 +11% YoY +15% YoY Izipay WM 1H25 1H26 -20 % YoY +6 % YoY +5 % YoY 35
Slide 36: YoY growth in 1H26 results from financial transactions
+3 % Banking 305 383 +26 % YoY growth in 1H26 results from YoY financial transactions 1H25 1H26 IFS (S/ mn) Insurance 130 669 98 +33 % 649 YoY 1H25 1H26 Wealth management 134 1H25 1H26 112 -16% YoY +3 % YoY 1H25 1H26 36
Slide 37: Small businesses delivering profitable growth momentum
Small businesses delivering profitable growth momentum Loans (S/ bn) +29 % YoY 2.0 1.8 1.5 2Q25 1Q26 2Q26 Deposits (S/ bn) +32 % YoY 2.9 3.0 2.2 2Q25 1Q26 2Q26 37
Slide 38: Continued improvement in funding mix
Continued improvement in funding mix Low -cost funding (%) (1) Low -cost funding (S/bn) YoY 25.7 +15.9% 37.2% 22.2 2.5 -12.3% 34.4% 2.8 8.3 +22.4% 6.8 15.0 +18.7% 12.6 2Q25 2Q26 2Q25 2Q26 Retail Commercial Others Total 1) Low cost funding as a % of total funding . Low -cost funding includes retail d
Slide 39: Customer base growth continues across businesses
Customer base growth continues across businesses Banking Insurance Wealth management customers (mn) customers (mn) customers (th) +7 % +4 % +7 % YoY YoY YoY 5.5 5.9 87 93 3.2 3.3 Jun25 Jun26 Jun25 Jun26 Jun25 Jun26 39
Slide 40: Strong asset quality, CoR at 2.1%
Strong asset quality , CoR at 2.1% Impairments loss on loans , net (S/ mn) S2+S3 ratio & S3 NPL ratio (%) & Cost of risk (%) 400 2.5% 2.1% 2.5% 350 2.1% 10.2% 1.8% 300 1.4% 9.0% 1.5% 250 7.8% 0.5% 200 150 308 -0.5% 257 270 229 100 184 -1.5% 2.5% 2.2% 2.1% 50 0 -2.5% 2Q25 3Q25 4Q25 1Q26 2Q26 2Q25 1Q2
Slide 41: Sound capitalization levels
Sound capitalization levels Banking Insurance TCR CETI ratio 130.3% 127.4% 118.6% Banking 100% System 15.9% 16.7% Reg. min. TCR 16.9% 2Q25 1Q26 2Q26 15.5% 15.5% 11.7% 11.7% 11.9% 13.6% Reg. min. Wealth management 8 .4% Reg. min. 22.3% 19.2% 20.0% 12% Reg. min. 2Q25 1Q26 2Q26 2Q25 1Q26 2Q26 2Q25 1Q26
Slide 42: Banking market share evolution
Banking market share evolution Total banking Total commercial Consumer 19.7 14.0 11.4 18.1 13.7 11.3 Jun-25 Jun-26 Jun-25 Jun-26 Jun-25 Jun-26 Mid-to-large Corporate Mortgages companies 10.5 10.7 14.8 14.6 16.0 16.0 Jun-25 Jun-26 Jun-25 Jun-26 Jun-25 Jun-26 Source: SBS 42
Slide 43: Dollarization levels at Interbank
Dollarization levels at Interbank Total loans Retail loans Commercial loans % USD System 27% 27% 6% 6% 40% 41% 50% 50% 74% 74% 96% 96% 50% 50% 26% 26% 4% 4% 2Q25 2Q26 2Q25 2Q26 2Q25 2Q26 Retail loans breakdown Commercial loans breakdown Consumer Mortgages Corporate Large & Medium Small & Micro 6% 7%
Slide 44: IFS P&L 2Q26
IFS P&L 2Q26 Intercorp Financial Services' P&L statement S/ million %chg %chg 2Q25 1Q26 2Q26 QoQ YoY Interest and similar income 1,715.2 1,776.9 1,787.6 0.6% 4.2% Interest and similar expenses -578.6 -543.0 -599.9 10.5% 3.7% Net interest and similar income 1,136.6 1,233.9 1,187.7 -3.7% 4.5% Impairme
Slide 45: IFS statement of financial position 2Q26
IFS statement of financial position 2Q26 Intercorp Financial Services' Statement of financial position S/ million %chg %chg 2Q25 1Q26 2Q26 QoQ YoY Assets Cash and due from banks and inter-bank funds 13,174.4 14,412.7 15,997.9 11.0% 21.4% Financial investments 27,747.4 29,652.5 29,417.8 -0.8% 6.0% Lo
Slide 46: Banking P&L 2Q26
Banking P&L 2Q26 Banking Segment's P&L Statement S/ million %chg %chg 2Q25 1Q26 2Q26 QoQ YoY Interest and similar income 1,450.5 1,458.3 1,494.6 2.5% 3.0% Interest and similar expense -510.9 -462.9 -517.9 11.9% 1.4% Net interest and similar income 939.6 995.4 976.7 -1.9% 3.9% Impairment loss on loan
Slide 47: Banking statement of financial position 2Q26
Banking statement of financial position 2Q26 Banking Segment' Statement of financial position S/ million %chg %chg 2Q25 1Q26 2Q26 QoQ YoY Assets Cash and due from banks and inter-bank funds 11,878.2 13,105.7 14,789.5 12.8% 24.5% Financial investments 12,087.1 13,398.6 12,820.4 -4.3% 6.1% Loans, net
Slide 48: Insurance P&L 1Q26
Insurance P&L 1Q26 Insurance Segment's P&L Statement S/ million %chg %chg 2Q25 1Q26 2Q26 QoQ YoY Interest and similar income 221.0 309.7 255.1 -17.6% 15.4% Interest and similar expenses -44.1 -57.9 -58.5 1.1% 32.5% Net Interest and similar income 176.8 251.8 196.6 -21.9% 11.2% Impairment loss on loa
Slide 49: Insurance statement of financial position 2Q26
Insurance statement of financial position 2Q26 Insurance Segment' Statement of financial position S/ million %chg %chg 2Q25 1Q26 2Q26 QoQ YoY Assets Cash and due from banks and inter-bank funds 480.6 513.9 581.9 13.2% 21.1% Financial investments 13,840.0 14,747.9 15,118.3 2.5% 9.2% Property, furnitu
Slide 50: Wealth Management P&L 2Q26
Wealth Management P&L 2Q26 Wealth Management Segment's P&L Statement S/ million %chg %chg 2Q25 1Q26 2Q26 QoQ YoY Interest and similar income 43.1 34.6 37.8 9.2% -12.3% Interest and similar expenses -25.3 -23.4 -25.0 7.0% -1.0% Net interest and similar income 17.8 11.3 12.8 13.7% -28.2% Impairment lo
Slide 51: Wealth Management statement of financial position 2Q26
Wealth Management statement of financial position 2Q26 Wealth Management Segment' Statement of financial position S/ million %chg %chg 2Q25 1Q26 2Q26 QoQ YoY Assets Cash and due from banks and inter-bank funds 725.3 587.4 495.6 -15.6% -31.7% Financial investments 2,070.3 2,025.5 2,183.2 7.8% 5.5% Lo
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 — Q2 2026 Earnings Presentation on 6ix