Intercorp Financial Services Inc. Common Shares

Thank you for holding for IFS second quarter 2025 conference call. The conference will begin in a few minutes. We appreciate your patience. In the meantime, please refresh your screens in order to update the webcast presentation. Thank you. Good morning and welcome to the Intercorp Financial Services second quarter 2025 conference call. All lines have been placed on mute to prevent any background noise. Please be advised that today's conference call 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 question and answer 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 second 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. and Mr. Bruno Ferrecho, 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 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 and welcome to our 2025 second quarter earnings call. First, I want to thank you for attending our call today. We continue to see a positive performance of the Peruvian economy with an accumulated growth of 3.1% as of May. This momentum is driven by increased dynamism in sectors linked to consumption and sustained private investment, which is projected to grow by 5% this year. We continue to operate in a low inflation environment with a very stable exchange rate and with positive momentum for investment projects expected for the following month. We remain moderately optimistic about Peru's growth outlook, as both private investment and consumption continue to trend positively. Consequently, the central bank has changed its internal demand forecast from 3.5% to 4.5%, with a GDP growth of 3.1% for 2025. While the international context and next year's presidential elections in Peru could introduce some volatility, we expect persistently high commodity prices to help offset external pressures. In this environment, Peru remains well positioned in the region as one of the fastest growing economies. Now talking about IFS. At IFS, we delivered a strong year-over-year recovery with an ROE exceeding 20%. This quarter's results were driven by solid performance in the core businesses across our subsidiaries, with particularly strong investment returns. These gains have allowed us to maintain a healthy ROE and reinforce our long-term targets. Interbank continues to show solid momentum in commercial banking, with a clear focus on mid-sized companies and strong synergies with EasyPay. resulting in a gain of 90 basis points in market share within the segment. In line with improved internal consumption, we're seeing greater dynamism in consumer activity, reflected in higher cash loan disbursements and increased credit card turnover. These trends signal early signs of growth in the consumer portfolio, although the pace remains slower than expected. As a result, NIM has remained stable, while cost of risk is performing better than anticipated in line with improved household purchasing power, contributing to an increase in risk-adjusted NIM. EasyPay and EnterBank continue to seize business opportunities together, while Plin keeps increasing the engagement of users, fostering more primary banking relationships and supporting growth. Interseguro continues to grow its business, with notable expansion in private annuities and life insurance, as we continue to be market leaders. Our wealth management segment through Intelligo delivered very strong results this quarter. The continued positive engagement with clients led assets under management to reach new highs, growing 14% year over year. In addition to this, investment results were particularly strong, driving ROE to high levels. We remain committed to place our customers at the center of our decisions. As you know, our key strategic priority at IFS is to achieve digital excellence for our customers, fostering private relationships. Our ambition is to become the leading digital platform in the country with a clear focus on key businesses and profitable growth, providing a comprehensive suite of services powered by a top tier customer experience and advanced analytics as our competitive advantage. Looking ahead, we remain optimistic about IFS's prospects. The company has demonstrated resilience during the down cycle and the ability for a fast forward. We are confident in our delivery to continue executing our long-term strategy. Now, let me pass it on to Miquela for further explanation of this quarter results. Thank you.