Intercorp Financial Services Inc. Common Shares

Good morning and welcome to the Intercourt Financial Services first quarter 2025 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 Mr. Ivan Peel from Inspire Group. Sir, you may begin.

Thank you, and good morning, everyone. On today's call, Intercorp Financial Services will discuss its first quarter 2025 earnings. We are very pleased to have with us Mr. Luis Felipe Castellanos, Chief Executive Officer, Intercorp Financial Services, Ms. Miquela Casasa, Chief Financial Officer, Intercorp Financial Services, Mr. Carlos Torre, Chief Executive Officer, Interbank, Mr. Gonzalo Besadre, Chief Executive Officer, InterSeguro, Mr. Bruno Freixo, Chief Executive Officer, Intelligo. 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 on 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 that forward-looking 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, 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 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, all, and welcome to our 2025 first quarter earnings call. First, I want to thank you for attending our call today. We have started the year with a positive sentiment, observing stability in the Peruvian economy with several consecutive quarters of growth exceeding 3%. This growth is driven by increased dynamism in sectors linked to consumption and the sustained momentum of private investment, which is projected to grow by 6.7% year over year as of March 2025. We remain moderately optimistic about the future growth of Peru, as private investments and consumption continue their positive trend. Consequently, the forecast for GDP growth is 3.2% according to the central bank. Nevertheless, before, we're cautious, given that 2025 is a pre-electoral year, which could generate some volatility. we are also aware of external factors that could impact global growth, which we expect could be offset by persistent high commodity prices. Moreover, the International Monetary Fund has recently updated its growth estimates, adjusting global growth downward by 0.5%, while increasing Peru's GDP estimate by 0.2%, positioning Peru as one of the highest growing countries in the region for the year. The first quarter of 2025 was positive for IFS, with our ROE exceeding 16%. This performance aligns with our expectations and sets us on a path towards achieving our long-term targets. We believe the positive trend should continue throughout the year. At Endure Bank, we had a better than expected start to the year. We managed to increase our market share in loans, strengthening our position as the third largest bank in the country. This growth has been mainly driven by our commercial banking business, where we gained over 120 basis points in market share. Moreover, we believe we are on the right path for the recovery of our consumer portfolio, as we are seeing more cash loan disbursements thanks to our improved underwriting standards and the more benign macro environment. However, we are not there yet. EasyPay and Interbank continue to seize business opportunities together, while Plin keeps increasing the engagement of users, fostering more primary banking relationships and supporting growth. At Interseguro, we have seen relevant growth in our core business, mainly in individual life and annuities, where we continue to be the market leader. Our wealth management segment, Intelligo, continues a positive dynamic with clients as assets under management reach a new all-time high, growing by 16% year over year. We want to reaffirm our conviction to place our customers at the center of our decisions. As such, our key strategic priority at IFS is to achieve digital excellence for our customers and fostering primary relationships. Our ambition is to become a leading digital platform with a clear focus on key businesses and profitable growth, always providing a comprehensive suite of services supported by a world-class digital experience and leveraging analytics as our competitive advantage. Going forward, we continue to be optimistic about IFS's prospects, which have proven to be resilient through the bottom part of the credit cycle. Our outlook on the back of the continued expected recovery of produced fundamentals is positive. As such, we continue executing our long-term strategy. Now, let me pass it on to Miquela for further explanation of these quality results. Thank you.