Credicorp Ltd.

Good morning, everyone. I would like to welcome you to the Credit Corp Limited Third Quarter 2025 Conference Call. A slide presentation will accompany today's webcast, which is available in the Investor section of Credit Corp's website. Today's conference call is being recorded. As a reminder, all participants will be in a listen-only mode. There will be an opportunity for you to ask questions at the end of today's presentation. If you would like to ask a question, please signal by pressing star and then 1 on your telephone keypads. If you have connected to the call using the HD web phone on your computer, please use the keypad on your computer screen. If you're using a speaker phone, we do ask that you please make sure that the mute function is turned off to allow your signal to reach our equipment. Now it is my pleasure to turn the conference call over to Credit Corp's IRO, Milagros Siglinas. You may begin.

Thank you, and good morning, everyone. Speaking on today's call will be Gianfranco Ferrari, our Chief Executive Officer, and Alejandro Perez Reyes, our Chief Financial Officer. Participating in the Q&A session will also be Francesca Rajo, Chief Innovation Officer, Cesar Rios, Chief Risk Officer, Tero Travesan, CFO of Insurance and Pensions, and Rocío Benavides, MiBanco Chief Financial Officer. Before we proceed, I would like to make the following safe harbor statement. Today's call will contain forward-looking statements which are based on management's current expectations and beliefs and are subject to a number of risks and uncertainties. And I refer you to the forward-looking statements section of our earnings release and recent filings with the SEC. We assume no obligation to update or revise any forward-looking statements to reflect new or changed events or circumstances. Gianfranco Ferrari will begin the call with remarks on key messages of our recent investor day. our recent political and macro environment, and a brief overview of our quarterly results, followed by Alejandro Pegasayes, who will provide a more detailed analysis of key macroeconomic indicators, our financial performance, and our outlook for full year 2025. Gianfranco, please go ahead.

Thank you, Milagros. Good morning, everyone. And thank you for joining us to review Credit Corp's results for the third quarter of 2025. Just over a month ago, we had the pleasure of hosting our Investor Day in New York. where we marked 30 years since Krakow's listing on the New York Stock Exchange and shared our roadmap for sustainable growth and impact. Our strategy is anchored in three key pillars. First, we are accelerating the scalability and monetization of our digital ecosystem by financially including more people and expanding the formal cashless economy. Platforms like YAPI, Tempo, and Warba are playing a bigger role across payments, credit, and savings, and are already generating new revenue streams. Second, we're unlocking growth through business synergies across all our businesses by leveraging shared capabilities in data and AI, talent, and across business platforms to drive revenue diversification and efficiency. And third, we're executing with discipline with a focus on profitability thresholds capital allocation, and long-term value creation across both our core and disruptive initiatives. We also reaffirmed our medium-term targets, an ROE of 19.5% and an efficiency ratio around 42% over a three- to four-year period. These goals underpinned by scalable platforms, improving asset quality and disciplined growth. Before turning to the quarter's results, Let me take a moment to acknowledge the recent political developments in Peru and macro conditions across the markets where we operate. Late on October 9th, Peru's Congress voted to impeach President Dina Boluarte, citing permanent moral incapacity. Shortly after, the head of Congress, Jose Geri, was sworn in as president. This follows a period of low approval ratings and growing public frustration with crime and governance. While abrupt leadership transitions have unfortunately become part of Peruvian landscape, the country has also demonstrated a long history of economic resilience and institutional continuity. At Credit Corp, we build our strategy and operating model for resilience. Our geographic and business diversification, strong capital and liquidity position, and disciplined risk management allow us to stay focused on delivery even as the external environment shifts. Over the past 30 years as a listed company, we've generated an overall total shareholder return above 14%, consistently outperforming our original peers. That track record reflects more than strong financials. It speaks to a business model built to navigate uncertainty, decoupled from macro cycles, and anchored in long-term value creation. That's why, when events like recent political changes unfold, we remain grounded and focus on what we can control. As always, we're monitoring developments closely. The macroeconomic environment during the quarter was relatively stable, with key indicators pointing to a gradual recovery across the region. In Peru, GDP growth for 2025 is now projected at 3.4%, up slightly above 3%. This revision is driven by higher-than-expected export prices and a boost to consumption following the eighth pension fund withdrawal. Domestic demand is forecast to grow nearly 6%, its fastest pace in over a decade outside the pandemic rebound. Driven by a more advanced economic cycle, record terms of trade, controlled inflation supporting real wages and rising trade demand. These trends point to improving business conditions with mining investment outlooks strengthened by favorable export prices and new project ramp-ups. Despite the upcoming 2026 elections, we expect GDP growth to remain resilient, between 3% to 3.5%, largely supported by sustained gains in terms of trade. With inflation forecasted at 1.8% for 2025 and 2% for 2026, it remains comfortably within the central bank's 1% to 3% target range. In September, the central bank cut its policy rate for the third time this year to 4.25%, bringing it close to neutral level. This easing cycle is already supporting credit growth and private consumption. FX markets and external balances also remains stable, supported by high commodity prices. In Chile, GDP growth is driven by favorable terms of trade, mining investment, and resilient consumption, with a more pro-market outlook boosting medium-term expectations. Colombia's GDP is expected to grow 2.3% in 2025, up from just 1.6% in 2024, though fiscal pressures keep sentiment cautious. In Bolivia, economic adjustment challenges remain, but Rodrigo Paz's election ends two decades of mask rule, raising hopes for a more pragmatic, reform-oriented economic agenda. All in all, we continue to navigate a dynamic external environment with prudence, agility, and a focused approach to the areas where we can drive long-term value. With that context, let me now walk you through the key results of the third quarter. We had another strong quarter with robust performance across our core businesses and consistent delivery on our strategic priorities. These results drove an ROE of 19.6%, anchored in healthy operations and a proven risk posture. Universal banking and insurance intentions delivered very strong results, while microfinance continued progressing steadily towards its medium-term profitability target. T-based and transactional income also grew, underscoring the strength and diversity of our platform. Our innovation portfolio contributed 7.4% of our risk-adjusted revenues, keeping us firmly on track to our 10% target for 2026. Turning to credit activity, dynamics improved, and FX-neutral loan growth accelerated to 7% year-over-year. Origination pipelines remain healthy, particularly in retail banking and microfinance, positioning us for further momentum in the fourth quarter. The positive credit momentum also supported margins. Risk-adjusted NIM stood at 5.5% in year-to-date figures, supported by better asset quality and our structurally efficient low-cost funding base. On the deposit side, we raised the share of demand and saving accounts to 39.5%, a direct reflection of our digital engagement strategy and the trust we've earned from our clients. Asset quality also continues to trend favorably, benefiting from enhanced origination standards, refined risk-based pricing, and stronger collection execution. Lastly, From an operational standpoint, our efficiency ratio came in at 46.4%, well within our expected range, reflecting the leverage in our digital capabilities and our disciplined cost management. Capital levels remain strong across all businesses. With that, I'll turn it over to Alejandro to discuss our results and provide more insight into our operational and financial performance. Alejandro, please go ahead.