Intercorp Financial Services Inc. (NYSE: IFS)

Intercorp Financial Services Inc. provides banking, insurance, wealth management, and payment services primarily to customers in Peru. The company operates as a holding company overseeing subsidiaries Interbank, Interseguro, Inteligo, and Izipay, which together deliver a full suite of financial products.

Intercorp Financial Services Inc. generates revenue from interest income and fees on loans and deposits, insurance premiums, wealth management fees based on assets under management, and transaction fees from payment processing. Its customer base includes retail individuals, commercial clients, small and medium sized enterprises, micro merchants, and high net worth individuals across Peru.

The company operates through the following segments: banking, insurance, and wealth management.

• Banking: This segment, primarily through Interbank, offers retail and commercial banking services including credit cards, payroll deduction loans, personal loans, mortgages, corporate lending, treasury and institutional products to individuals, large companies, and small and medium sized enterprises in Peru.

• Insurance: This segment, operated by Interseguro, provides annuities, life insurance, retirement savings, credit life, SOAT, car insurance, and credit card protection products to retail customers across Peru.

• Wealth management: This segment, conducted via Inteligo Bank, Inteligo SAB, Interfondos, and Veltria Advisors, delivers wealth management, private banking, brokerage, mutual fund management, and advisory services mainly to high net worth individuals and institutional clients.

Intercorp Financial Services Inc. holds a strong position in the Peruvian financial sector, with Interbank ranked as the third largest bank by total assets, loans, and deposits; Interseguro leading the annuities market with a 25.5% market share; and Inteligo growing as a top wealth manager. Key competitors include Banco de Crédito del Perú, BBVA, and Scotiabank in banking; Rimac and Pacífico Seguros in insurance; and Credicorp Ltd. through Atlantic Security Bank in wealth management. Competitive advantages stem from an integrated digital platform, strong brand recognition, advanced analytics, cross selling synergies, and the backing of the Intercorp Peru conglomerate.

The company serves retail customers, commercial clients, small and medium sized enterprises, micro merchants, and high net worth individuals throughout Peru.