Intercorp Financial Services Inc.
Intercorp Financial Services Inc. is a Peru-based financial holding company within the Intercorp group, with businesses spanning banking, insurance, wealth management, and related financial services. Through subsidiaries such as Interbank, Interseguro, Inteligo, and Interfondos, it serves retail, corporate, and investment clients across Peru and selected international financial centers.
Fiscal year 2025 · change from previous year
Development 2022–2025
Business
Share of revenueDeposit-taking, lending, payments, and related banking services through Interbank and affiliated entities.
Life and related insurance products distributed through the group’s insurance platform.
Brokerage, mutual funds, and investment products offered through Inteligo and Interfondos.
Holding company activities, investments, and ancillary financial services within the group.
Customers
The group serves retail customers seeking everyday banking, consumer credit, mortgages, insurance, and savings products. It also serves small and medium-sized businesses, larger corporate borrowers, and affluent clients who use brokerage, funds, and advisory services. Institutional and high-net-worth clients are important in wealth management, where clients buy execution, fund access, and portfolio services.
Households buying deposits, consumer loans, cards, and transactional banking services.
Individuals and families financing home purchases through secured mortgage products.
Businesses buying credit, cash management, and related banking services.
Customers buying protection and savings-oriented insurance products.
Investors using brokerage, mutual funds, and advisory services through Inteligo and Interfondos.
Strategy
The group’s strategy centers on growing its integrated financial platform across banking, insurance, and wealth management, using common customer relationships to deepen product penetration. Digital adoption is an important priority, especially in insurance and investment platforms, because it improves client engagement and lowers distribution friction. The franchise also relies on risk discipline in lending and active management of credit, investment, and insurance portfolios.
Digital channels improve customer retention, transaction efficiency, and product adoption across banking, insurance, and wealth management.
An integrated platform allows the group to serve the same customer with multiple products and increase relationship depth.
Banking and investing businesses depend on controlling credit losses, collateral quality, and market valuation risk.
Geography
The group’s core operations are in Peru, where its banking, insurance, and wealth management franchises are centered. It also maintains international holdings and financial entities in places such as the Bahamas, the United States, Brazil, Hong Kong, and Spain, mainly to support investments and group structure. Geography matters because the business is primarily exposed to Peruvian credit, funding, and regulatory conditions, while select offshore and cross-border entities support investment and market access.
Risks
The group is exposed to credit risk, market risk, and insurance reserving risk because it combines lending, investing, and underwriting activities. Its results are also sensitive to Peruvian economic conditions, regulatory change, and the valuation of loans, investments, goodwill, and insurance liabilities. Digital execution risk and cyber/fraud risk matter as more customer activity migrates to online channels.
- Loan portfolio impairmentImpact: HighLikelihood: High
The group earns from lending, so borrower stress can increase expected credit losses and reduce profitability.
Exposure - Peru macroeconomic and regulatory exposureImpact: HighLikelihood: High
Most operating activity is centered in Peru, so local rate, inflation, and regulatory changes affect demand and credit quality.
Exposure: Domestic banking and insurance franchise
- Fair value volatility on investments and derivativesImpact: MediumLikelihood: Medium
Wealth and treasury activities include assets and hedges measured at fair value, creating mark-to-market swings.
Exposure: Financial investments and derivative instruments
- Insurance reserve uncertaintyImpact: MediumLikelihood: Medium
Insurance contract liabilities depend on claims, lapse, and discount assumptions that can shift over time.
Exposure: Insurance segment
- Digital channel operational riskImpact: MediumLikelihood: Medium
Greater reliance on online self-service and digital transactions increases cybersecurity and service continuity risk.
Exposure: Insurance and wealth platforms
Accounting
Judgemental itemsLoan loss allowances depend on borrower outlook, collateral values, and macro assumptions.
Impact: Affects banking profitability and balance-sheet reserves
Investment securities, investment properties, and derivatives are marked using valuation inputs.
Impact: Can move other income and equity
Reserve estimates depend on claims, lapses, and discount rates.
Impact: Affects insurance results and capital
The group carries acquired franchise value that must be tested against future cash generation.
Impact: Can cause non-cash write-downs
Discount rates and lease terms affect recognized right-of-use assets and liabilities.
Impact: Influences balance sheet and depreciation/interest expense
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Last updated: 28/09/2026