Intercorp Financial Services Inc. Common Shares

and welcome to the Intercorp Financial Services first quarter 2024 conference call. All lines have been placed on mute to prevent any background noise. Please be advised that today's conference is being recorded. After the presentation, we will open the floor for questions. At that time, instructions will be given as to the procedure to follow if you would like to ask a question. Also, you can submit online questions at any time today using the window on the webcast, and they will be answered after the presentation during the Q&A session. Simply type your question in the box and click Submit Question. It is now my pleasure to turn the call over to Ana Diazis of Inspire Group.

Ma'am, you may begin. Thank you, and good morning, everyone. On today's call, Intercorp Financial Services will discuss its first quarter 2024 earnings. We are very pleased to have with us Mr. Luis Felipe Castellanos, Chief Executive Officer, Intercorp Financial Services, Ms. Michaela Casasa, Chief Financial Officer, Intercorp Financial Services, They will be discussing the results that were distributed by the company yesterday. There is also a webcast video presentation to accompany the discussion during this call. If you didn't receive a copy of the presentation or the earnings report, they are now available on the company's website. IFS.com.pe. Otherwise, if you need any assistance today, please call Inspire Group in New York at 646-940-8843. I would like to remind you that today's call is for investors and analysts only. Therefore, questions from the media will not be taken. Please be advised the forelooking statements may be made during this conference call. These do not account for future economic circumstances, industry conditions, the company's future performance, or financial results. As such, the statements made are based on several assumptions and factors that could change, causing actual results to materially differ from the current expectations. For a complete note on forward-looking statements, please refer to the earnings presentation and report issued yesterday. It is now my pleasure to turn the call over to Mr. Luis Felipe Castellanos, Chief Executive Officer of Intercorp Financial Services, for his opening remarks. Mr. Castellanos, please go ahead, sir.

Thank you. Good morning, everyone, and welcome to our first quarter's 2024 earnings call. I want to thank you for attending our call today. This is my first call with my revamped role as CEO of IFS that started May 1st. As announced, this new role will allow me to be more focused on growing our platform and creating synergies within our operating companies. Carlos Tori, formerly VP of Payments, has taken over Interbank's CEO role. He has deep expertise in retail, commercial banking, and payments. We believe that this new leadership platform will allow IFS to continue on its growing path with more focus to face on the upcoming challenges and opportunities. I will start by assessing the macro situation in Peru. We began 2024 with a slightly better feeling than 2023. Economic growth was positive in the first two months of the year. as El Niño was not as strong as expected, although the recovery is delayed in consumer-linked sectors. In terms of inflation, it has decreased consistently, entering back to the central bank's target range in April. In that line, the central bank has reduced the solace reference rate by 200 basis points from its peak to the current level of 5.75%. The combination of falling interest rates, elevated metal prices, and better market sentiment leads us to expect GDP growth to be around 3% for this year, which is a recovery versus last year, but still with several challenges ahead. Moving on to our business, our key strategic priority continues to be to achieve digital excellence for our customers by providing them with a world-class, flexible and secure digital platform. We're breaking down geographic barriers through 100% digital products and services that empower Peruvians. We want to become the leading digital platform providing profitable solutions with clear strategic focus on certain and key businesses. We continue to develop our analytical capabilities, leveraging on the best talent. This is our strategy and we will continue to focus on it with a long-term vision. IFS continues to show resilience in its core operations. We continue to grow our customer base on all segments as we consolidate the results of our digitalization efforts. At Indrobank, market shares across key business lines remain strong, despite moderation in retail loans, as we are still being very cautious with the cost of risk, mainly in the consumer finance segments. Even though cost of risk remains high, there is a marginal improvement. Interbank remains well-provisioned and very well capitalized. At Interseguro, we continue to grow premiums of individual life while consolidating market leadership in annuities. This quarter, Interseguro's results were impacted by the investment portfolio results and by certain accounting adjustments. Our wealth management business had a positive first quarter towards its recovery path, as customers' AUMs and fee improved. Finally, on payments, the number of affiliates and transactional volumes continues to expand, as EasyPay's core business is complemented with the value-added services. Interbank and EasyPay continue working on creating synergies, while Plin continues to engage more users. We acknowledge that these quarter results are below expectations and potential. We're probably at the bottom of the credit cycle, but we remain confident about IFS outlook going forward as we monitor the macro conditions, but we continue to build on our long-term strategy with emphasis on our key strategic priorities, which are growth, digital, and focus on key businesses. Now, let me pass it on to Miquela for further explanation of our quarterly results. Thank you.