Intercorp Financial Services Inc.

Leading diversified Peruvian financial group with solid mid-teens returns and strong earnings growth, tempered by Peru macro/political risk.

Strengths

• Net income +21% (72.7th pct) with ROA 1.37% (67.6th) — above-median profitability for a bank
• Diversified franchise (Interbank, Interseguro, Inteligo) with leading Peru market position and clean capital ratios

Risks

• ROE 11.9% only median (52.9th pct) — returns good not standout
• Concentrated in Peru: political instability, 2026 elections, sol/FX and sovereign-debt exposure

Notable findings

• No interest coverageInterest coverage 0.66 (cannot cover interest)
• Strong balance sheetStrong balance sheet — $3.6B cash & investments