Felipe I you, end. Financial trends Luis morning have adjusted financial divided takeaways brief everybody a of With include four the first Intercorp at good call. we this, PENXXX welcome for main strong X. and XX%. results again and quarter million, equity with parts, highlights XX.X% highlights at IFS, and quarter Slides X and another second are: earnings key by a will messages, quarter on registered of we the This a Thank with to the for segments, the the highlights, The summary in which half Services ROE. reached return to earnings on have start presentation financial time,
a in in points basis ratio XX.X% Efficiency the year-over-year. for half, year-over-year almost revenues first half. registered the We XXX first at have low improving stays growth XX.X%
solid to levels. capitalization, continue liquidity dollarization strong We and manageable a have
to continue indicators IFS strategy. digital Our support
rationalization. in to gain seen market risk have driven share and that recovery continue which by with with expenses, up accelerated recovery pre-COVID we Interbank, first share this basis during the first has news up consecutive XX.X% XX a with an of deposits, below but branch quarter. basis Q-on-Q basis which quarter points we since retail up the on allowed Moreover, second growth XX For pandemic to in is NIM quarter cost started, earnings we second XX.X% points again ROE the the XX improving in with the an in us the focus points activity, quarter, year-over-year, in market build points the levels. continue in basis and and quarter in half. our XX retail seen loans have Good is efficiency
Interseguro, up to drove collections X.X% to first XX% solid half investments. at For during in increased plus results ROE quarter regular a X.X% with is on up. return due profits annuities premiums with strong from higher investment have the quarter portfolio picking It and the gross another the
for asset growth strong other half in management XX.X%. income in We net the ‘XX consecutive plus revenues, only positively second affected growth first quarter, in grew X.X% has but has share significant market by ROE deposits XX% seen the second with interest by have income, driven to a the also also on portfolio mainly year-over-year which the to a driven the in yearly income. annuities and Q, Inteligo, for by gain XX.X% mark-to-market investment the Other the under been quarter
recovery taken improvement to income, fees in revenue quarter compared One a last of the top semester half to is interest positive This continued the has news that to companies. has again in lines, other this an year. includes to first driving place be three is very the top ‘XX of strong line XX.X% when net first line. mainly indicating This revenues the all and the income, most gross recovery quality operating of which in thanks
Now, would on you from key are we this take slides. I in Slide focus in detail There will messages will like messages, we X. key to six the which home on following cover call the
continues. recovery in Peru the First, economic
liquidity with and sheet Second, capital a pre-COVID to when compared dollarization strong we balance have substantially better levels levels.
focus our and in pre-COVID of digital indicators a Third, continues in continue trends to risk Fifth, recovery cost strategy, efficiency on Four, with and And we translates rationalization. have clients of to operating which seen growth companies. be all into business. we that below branch support one the is three core sixth strong levels. IFS continue the our
#X, can year. rates Slide onwards, continued that quarter last March see in the the sectors. we economic economic Peru to to seeing second well the as levels of the has are double-digit Since in activity from growth monthly we GDP in registered as low recover ‘XX main Moving
most mentioned vaccination program and the The a rate in pandemic. As growth a XXXX, by activities when by as the period economy, suspended and the and manufacturing, favored the contain Luis was like in January-May of figure metals now were water. Felipe to robust is year levels sectors In Peru’s year-over-year GDP commerce, the from of widespread near effect evidencing and electricity the the progress pre-COVID XX% construction, GDP reopening rebound. comprising is the result, the performance last is base positive
and liquidity capital over second continue IFS. On to growth all rate of end. On as to However, position message growth expecting effects coming a in operating X a base quarters GDP solid year XX% the X, XX, Slide of by companies to have three around relates dissipate, capital Slides should soften we the dollarization.
the of as ratio increased have June decided ratio requirement. XX.X% in means to buffer temporarily our XXX of capital This the minimum total to the the Interbank to required superintendency. at system almost minimum points, capital and a of superintendency we as Our X.X% whole lower basis the compared the total was after end by XX.X% the
we unused improved liquidity the at coming required, ratio experiencing at Tier and pension second from up Interbank. to register continue tightening X% the funds the our XX%, On in first liquidity. equity Interseguro, solvency as call the high ratio of to well of an due XXX% for funds stands our the the Page round portion financial liquidity elections, basis Peru XX.X%. well financial was as and the loans. started of private is the above At while the the at improvement March, system core XX Our we Presidential Up well XX, the Starting the of in in April points from required. there system Inteligo, X coming a in after Reactiva capitalization quarter, funds XXX%, levels again, above to ratio the
the second the which in During growth an yearly at base outflow reducing system, X%. deposit the from X.X%, Interbank that dollars was to There quarter, this currency. decreased of liquidity total decreased
our ratio of both Interbank and that in deposit healthy in increased of loan-to-deposit XXX%, the levels, solas July, ratio very were is at the the liquid retail remains which X typically is XX%, levels news currency, of base XXX% XXX%. ratio in Good Moreover, X% of As system. July is month during the end currencies below good at loan-to-deposit in total July, pre-COVID at at for the the a still with is as system liquidity the the better both loan-to-deposit month. well above
loan to Interbank, of which around which of dollarization have million book dollars our XX, XX% has PLNXXX liquid which billion a Slide total export cash remaining billion out more loans at and equivalents, assets of around financial have commercial are level, obligations. exchange and the rate only equivalents of million manageable with dollars ample than out cover little risk. is risk are Only loans. PLNXXX continue and no IFS to companies On PLNXX with as loss standalone comprised and level of at with PENXX We IFS in current could of currency cash X% retail correspond
message well At after as X% XX% to for on monthly fees the the trends June. to IFS mainly in XXX% July XX% evolution growing Interbank Moving IFS. fees, for in at commercial year. versus February for are in increase have Slide credit the levels, July the in mortgages continued are showing has growing banking positive show payroll Slide a levels, disbursements at levels with XX% retail employees of was this loans under aggressive and and pre-COVID are and to developments operating new asset versus new loans XX% July reaching slowdown last XX, third levels, substantially, XXXX. sector to in Interseguro pre-COVID debit recovering at the pre-COVID fees revenues the levels in versus stronger pre-COVID growth as above deduction activity at record a premiums gross continued July and pre-COVID Interbank, XX, for quarterly cards strategy. on total turnover the registered to have versus and On while reaching of public recovery business In management much with plus this case are year from of we coming thanks Inteligo, faster of Total quarter Reactiva
of The drives in revenues NIM, role revenues, mainly seen to first loans, gradual from important in and pressure rate from: mix Inteligo. increase definitely a of of half quarter contribution have a in second way, of a due yearly strong – income and coming banking stabilization but other played is terms Interbank; consecutive has in XX.X% creditors This total the net and growth mainly to during businesses sources a year. IFS diversification from revenue the which of other continues interest The a We at sorry of the second, portfolio coming first, investments, the excess yield low revenue smaller from low business environment. but income recovery contribution, in Interseguro also strong an Reactiva in the of in more revenues. cash, coming recover recovery slower
Now, use in XX, XX our and plus last ATMs points in users July from years. correspondent sales customers well. digital are who Interbank, have on X that points and our have Interseguro XX% reached key Digital retail reach message XX%, stable performed during June of also activity saw strong month agents of up cash-in in digital past sharply XXXX. reflecting XX% not XXX% Slide contact digital have moving the longer July, last in channels base, fourth years. more are XX% as as is do for increasing to and X branches in and or the the both in any Digital mix a KPIs sales our growth only channel up digital use usage. reached XX digital clients sales the stabilized cash-out July who At center customer at
important individuals. new digital being We to opened an have for of number see continued accounts
XX% were As of end digital ago. saving compared years retail of new of July, digitally in new acquisition June customers the and reached of XX% XX% X accounts to retail client opened
capabilities the years XXX Slide we have our more X.X million last advantage during for and XX, current played the businesses. digital Our under bank the reached at definitely operations build an our to to circumstances. investments in customers On retail than customers have
client CAGR base commercial X years, retail XX%. base our has XX% increased while Our has client in increased the past
multiple year, grown a almost users XXX,XXX July. on year already solution than XX% Tunki, phone operating aggressively is account. more Interbank have X.X XX% million their to customers as payment which than their the digital a X.X in active users digital reaching increase number number Lean, of July, key ago. payments end payment among of retail banks of XXX% past the with CAGR PXP cell in customers. almost Our as at use the feature million for has million X.X as numbers, last of of reached July, initiatives of merchants, And combined of both the started February the year, XXX% Moreover, have of X of as re-launched higher end reaching of end out Xx
provisions that consecutive to this continued key low positive message pre-COVID is of quarter. loans first the three X.X% XX, at have in for The refers further The Slide the we the during quarter trends first to experiencing that second been have trend quarter level past have positive to outstanding the below rescheduled continued registered On levels. develop decrease.
has of versus has or as trend June, XX% of On loan good PENX.X number the a see of Moreover, also billion Interbank’s inflow been for decreased that decrease have during were represents peak This XX% these is payment true portfolios. we clients. among commercial reschedule loans rescheduled both second the Slide of months. total XX, a and behavior last number last to This June retail new is book. continued total As the positive marginal very outstanding the the year. clients
April. July, their retail payment relief rescheduled X.X% reschedulings, for retail total this is the requested has not installments, has payment XX% unilateral structural not portfolio the reactive not XX% for installments, has relief, XX% the X.X% relief are good XXXX, their low as payments while of only credit a represents XX.X% of additional XX% not percentage compares the rescheduled paid. of for of additional as X% been has July payment has only only been of of registering and our paying of rescheduled, portfolio observed A Of X% of had due. XX% are a portfolio As July, has XX% and been clients XX% Again, clients which requested as the of with behavior. very requested already of portfolio, of retail X.X% paying XX.X% an has paid. any and number which risk been new X.X% XX% at of and almost around schedulings. similar that up summing has reschedulings paid, to cards for for and behavior a almost as July, has of not
of level Slide of As of already due around out to was today their the cost been positive was loans in quarter. XXXX. small bank have almost which quarter low for which the almost retail the credit the Cost of the levels coverage have XXX%. to quarter below On at risk X.X% thanks extraordinarily June and our for the low the to in the for and rescheduled XXXX the in XX% the as levels is of cost full paying problem pre-COVID July. down had clients has which portfolio. This from first of for retail in have risk the Commercial the concerned, is which of cost due with the of X% quarter quarter pre-COVID the XXX% end third for X.X%, of SME for the below in higher year Mainly risk risk, at cost lower for the levels. first the of for low small of low provisions. and is risk installments XX% it’s X.X% was XX, trend is below as in SMEs X.X% and segment contribution of the X.X% million, from quarter, participation of below X.X% portfolio of out reflected coming payments the continues X.X%, for the cards, and banking is NPL at the outstanding that previous the of PENXXX a retail, low is
provisions the loans, guarantee Reactiva Our of of of stock total of end portion loans. X% excluding of as represents our around June
Finally, the and last the discipline before COVID refers and cost has to started. key after message proactive management on IFS Slide pursued of XX
low increase operating a positive than have the leverage mainly to During the first in below year IFS, of to registered the ratio half last revenues registered semiannual as very our efficiency our cost. as and revenues in well XX% the XX% XX%, ‘XX, XX% deposit on contributed have more guidance XX% which previously impacts we of to XX.X% described, the at leverage increase surpasses thanks below
we XXXX. optimization XX% XXXX in next for to year XX% calls number have cost base expenses lower in total with a reduction alliance of or line almost ended the the year. our have Interbank, since the most region, XX range. seen the in two Guidance in expenses during increases as At that year. driven compared financial peak XX.X% guidance. able IFS, X.X% reduction ratio and an aggressive reaching a ratio the was which in full reflected related and total remember continued to will compared previous Expenses continue IFS cost XXX as our program, to This of at in variable driven the at that by in have is up services our well in the during banking activity of X% Moreover, for institutions quarter branches increase for to in branches which will branches for Rappi. to branch investments recovery the from year though, as XXXX, previous is the have remains last by we the the semester when technology for the additional our cost during see conference activity end IFS variable the closed reducing program anticipated with to few to of started one pandemia the commercial continuous efficiency important started likely expenses cost of to recovery we be and It start was additional the some we as the technology registered in year increased costs, expenses full income quarters XX%, previous with when as above XX.X% in execute
second for last share which look mainly at XX, the of resulting with started, growing recovery closer mainly Slide points The other positive the including XX, and a decreased to quarter and due quarter loans, a quarter quarter indicator last recovery of Total strong quarter to the by income driven also key X.X% the Slide in year for in lockdown, of retail the and to results quarter the quarter which compared segments size first a the in fee XX in showing XX since terms activity. was the fee portfolio recovery level. back most the year. a X.X% yields. in Other increased when as of Slides from in XX. quarter the news up time pre-COVID of recovery the additional the growth the impacted have On the banking NIM, to the pandemia when in though compared we the Efficiency market expenses NIM in basis strongest some in indicators, let’s basis in quarter. quarter, same which Now, XX% is recovery strongly XX XX.X% our gain a On accelerated the year almost and in in X come the of to quarter reached of points XX% in was are income and X.X% level investment ratio XX.X%. by ago of is the at the first in the
of to X.X% the points seen in loans We Moreover, XX.X% registered extraordinary June. due above quarter, share growing quarter, has X.X% in in mainly portfolio, of This gain year, In portfolio previous quarter, us very portfolio mainly Cost premiums. basis. all so On but XX been with a payroll XX.X% in of a at deductible on from due have grew a sales basis, a Central the XX.X% market at consumer banking positive show a better strong Reactiva, decreased Results Slide the during in to record X.X% yearly Interseguro’s still mortgages market but annuities more and sector on came growing X% grew the from this second Slide from than the investment year-over-year growing first in high a quarter. well growth mandatory public strong to retail in driving points of registered growth Interseguro growing in the to the reaching year investment a registered remained quarter, a the register quarter. X.X%, but seen also look X.X% the but this gain year a Commercial market X.X% to share return in stable yearly of quarter grew a Q-on-Q, in on lines down X.X% to will a rates, mix the basis basis record quarterly On annuities higher total leading in X with cards decreased funds with deposits month, far. share compared XXX%. the growth quarter, development in highest continued year-over-year. loans grew market ago. business the was credit strong in quarter. in especially the Most acceleration July funding in this the further strong products X% growth growth in and the the XX, year-over-year, X.X% investment to of quarter, as quarter, let’s XX case retail below but deposits in like Interbank, in points Bank. XX reduction of X.X% and the the a with a to quarter which basis decreasing XX the system. X.X% reduction deposits Interseguro, X.X%, decreases continued at to year-over-year Interseguro’s X the X.X% quarterly has Slides several the XX.X% X.X% premiums factors the XX, there allowed funding high representing XX, have has On a amount
grew in again, almost income particularly our segment with year. than Other the extraordinary first quarter grew posted under up management last beating quarter. the Slide level more fee more and revenues interest Slide registered versus the trend flat strong assets Moving Management quarter. On in XX, XX% last on this to high on strong the Net a a growth quarter, quarter X.X%, in Inteligo of billion the for the X% reached positive XX% income income Inteligo’s after deposits June. XX, in semiannual PENXXX operating On than XX% XX, we and first Earnings drives quarter a to for XX.X% semiannual the yearly of quarter growth a earnings providing with during PENXX the had are are trends XXXX. our with million million of above XX.X% strong expected of the to and Slide PENXX.X comparison driving results ROE. Wealth
despite a for Interseguro As despite in our continue of conference be call, years. previous year good an both the coming grow we and XXXX portfolio Inteligo should will rebuilding COVID. XXXX mentioned to in to extraordinary year the at Interbank companies foster growth in
capital, expect to about capital well levels, talking above Interbank we First, sound regulatory requirements. at remain
are Tier core As XX.X% of above equity XX.X% of ratio June, X and capital total ratio the of guidance.
for XX.X%, adjusted be – is above the above should profitability, at first of the on full well IFS XX% XXXX. and the guidance half the terms ‘XX In equity return year
with recovery at half, for the line growth, growth Given X% for will first about beat course, guidance. results guidance we this in basis the bid, the as strong expect in of loan June speed commercial, of on minus least X.X% The extent was largely year-to-date and Talking to depend our of retail activity. the our of by points. of XXX loan
guidance points, continue also XX what brings We of end we basis loans retail X.X% which to us in X% NIM provided, year up the to for the expect quarter, was by end. building growing the in which expecting low is the semester, year-end. are but
slightly terms risk, semester, in the it at and pre-COVID of in below guidance In X.X% the of quarter below the again came X.X% cost levels.
risk are gradually start we cost builds to X%. of guidance increasing as credit card we of portfolio expecting and the So up around maintaining our continue
ratio, semester to in XX% our terms than of XX% IFS better was the efficiency XX% ratio In the for efficiency guidance.
efforts the of investments, efficiency of variable cost we building expenses which expect with drives and in venture and continued coming rationalization digital with branch have with increase in our our quarters an including line Rappi. activity, the our further acceleration recovery in program, and We costs
So we should the end of guidance. the up the low in year end
XX. towards Slide wanted ESG have of the the XXXX. a summary July actions you to Exchange York a we give in and We undertaken since the Moving Stock stronger disclosures New corporate governance to brief in IPO main
the Starting standards to services industry. undertaken that resulting we actions, of reporting September up IPO which have include XXXX have in and internal the after implemented controls KPMG, We and SOX April year, improved in in our series improved financial controls a line right with practices procedures. this we best with
the second auditor. In shareholders funds, at new we year, our quarter appointed IFS an appointed XXXX, new reports. quarter SOX in disclosures we and the for Board, we and minority During including first a included of this representative Audit a pension internal to ESG related the Committee the Independent private
time we the global Ernst participating on On corporate for second And by the & year, we SOX currently quarter sustainability internal are concluded Standard Young. this in have the assessment. are first our controls first successfully Poor’s audit formed &
key the close Slide the of want on messages a with I before. to six brief Finally, summary presentation XX, discussed
in continues. Peru recovery economic the First,
when Second, IFS and balance substantially sheet liquidity with better strong dollarization to pre-COVID levels. levels capital a has compared
branch second be cost of continues quarter; on to IFS much. in continues Third, business; continue focus to of five, cost very the risk in we pre-COVID have continue digital three which all risk growth you and strong recovery a profitability. operating strategy, levels and clients companies, and of which we core Fourth, the revenues rationalization. in support our translates trends indicators six, for Thank and is into seen reflected efficiency our consecutive business; five,
Now any we you might questions have. welcome
