# EDGAR Filing Document

**Accession Number:** 0001615903
**File Stem:** 0000950170-25-106775
**Filing Date:** 2025-8
**Character Count:** 224774
**Document Hash:** 7262ed8bafac213987b3ca3bbe925d10
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000950170-25-106775.hdr.sgml**: 20250812

**ACCESSION NUMBER**: 0000950170-25-106775

**CONFORMED SUBMISSION TYPE**: 6-K

**PUBLIC DOCUMENT COUNT**: 3

**CONFORMED PERIOD OF REPORT**: 20250811

**FILED AS OF DATE**: 20250812

**DATE AS OF CHANGE**: 20250811

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Intercorp Financial Services Inc.
- **CENTRAL INDEX KEY:** 0001615903
- **STANDARD INDUSTRIAL CLASSIFICATION:** COMMERCIAL BANKS, NEC [6029]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 000000000

**FILING VALUES:**
- **FORM TYPE:** 6-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-38965
- **FILM NUMBER:** 251203439

**BUSINESS ADDRESS:**
- **STREET 1:** TORRE INTERBANK
- **STREET 2:** AV. CARLOS VILLAR?N 140 - LA VICTORIA
- **CITY:** LIMA
- **STATE:** R5
- **ZIP:** LIMA 13
- **BUSINESS PHONE:** 51-1-615-9011

**MAIL ADDRESS:**
- **STREET 1:** TORRE INTERBANK
- **STREET 2:** AV. CARLOS VILLAR?N 140 - LA VICTORIA
- **CITY:** LIMA
- **STATE:** R5
- **ZIP:** LIMA 13

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**UNITED STATES** 

**SECURITIES AND EXCHANGE COMMISSION** 

**WASHINGTON, DC 20549** 

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**Form 6-K** 

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**REPORT OF FOREIGN PRIVATE ISSUER** 

**PURSUANT TO RULE 13a-16 OR 15d-16 OF THE** 

**SECURITIES EXCHANGE ACT OF 1934** 

**August 11, 2025** 

**Commission File Number 001-38965** 

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**INTERCORP FINANCIAL SERVICES INC.** 

**(Registrant's name)** 

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**Intercorp Financial Services Inc.** 

**Torre Interbank, Av. Carlos Villarán 140** 

**La Victoria** 

**Lima 13, Peru** 

**(51) (1) 615-9011** 

**(Address of principal executive offices)** 

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Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F: Form 20-F ☒ Form 40-F ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐

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On August 11, 2025, Intercorp Financial Services Inc. ("IFS") announced its unaudited results for the second quarter of 2025, which were approved by the Board on August 11, 2025. IFS' interim condensed consolidated unaudited results as of June 30, 2025, March 31, 2025 and for the six-month periods ended June 30, 2025 and 2024 and the corresponding Management Discussion and Analysis are attached hereto.

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**EXHIBIT INDEX** 

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| | |
|:---|:---|
| **Exhibit** | **Description** |
| 99.1 | [<u>Intercorp Financial Services Inc. Second Quarter 2025 Earnings</u>](ifs-ex99_1.htm) |

---

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**SIGNATURES** 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

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| | | |
|:---|:---|:---|
|  | **INTERCORP FINANCIAL SERVICES INC.** | **INTERCORP FINANCIAL SERVICES INC.** |
| Date: August 11, 2025 | By: | /s/ Michela Casassa Ramat |
|  | Name: | Michela Casassa Ramat |
|  | Title: | Chief Financial Officer |

---

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## Exhibit 99.1

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| | |
|:---|:---|
| **<u>Exhibit 99.1</u>** | ![img193345711_0.jpg](img193345711_0.jpg) |

---

**Intercorp Financial Services Inc.**

**Second Quarter 2025 Earnings**

**Lima, Peru, August 11, 2025.** Intercorp Financial Services Inc. (Lima Stock Exchange/NYSE: IFS) announced today its unaudited results for the second quarter 2025. These results are reported on a consolidated basis under IFRS in nominal Peruvian soles.

**Intercorp Financial Services: Sustained business performance supported by positive investment results**

&nbsp;&nbsp;&nbsp;&nbsp;▪Net income of S/ 580 million (+1.5x YoY) and ROE of 20.7%

&nbsp;&nbsp;&nbsp;&nbsp;▪Customer base continues to grow across all business segments

&nbsp;&nbsp;&nbsp;&nbsp;▪Positive trend in digital indicators

**Banking: Continued growth in commercial banking loans and low risk costs**

&nbsp;&nbsp;&nbsp;&nbsp;▪Net income of S/ 328.1 million and ROE of 14.4%

&nbsp;&nbsp;&nbsp;&nbsp;▪CoR at 2.5%, down 150bps YoY, in line with improved payment behavior and portfolio composition

&nbsp;&nbsp;&nbsp;&nbsp;▪Improvement in funding cost (-40bps YoY), driven by lower market rates and an efficient funding strategy

**Insurance: Net income of S/ 80.9 million in 2Q25**

&nbsp;&nbsp;&nbsp;&nbsp;▪Market leader in annuities with a 33.7% share in 2Q25

&nbsp;&nbsp;&nbsp;&nbsp;▪ROIP of 6.1% in 2Q25 compared to 6.2% in 1Q25 and 6.4% in 2Q24

**Wealth Management: Continued growth in commissions**

&nbsp;&nbsp;&nbsp;&nbsp;▪Continuous growth in AuMs: 3.5% QoQ and 13.9% YoY

&nbsp;&nbsp;&nbsp;&nbsp;▪Commission income increased 7.8% QoQ and 17.0% YoY

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**Intercorp Financial Services**

**SUMMARY**

Intercorp Financial Services' net profit was S/ 579.6 million in 2Q25, an increase of S/ 133.5 million QoQ and an increase of S/ 293.4 million YoY. IFS's annualized ROE was 20.7% in 2Q25.

**Intercorp Financial Services' P&L statement**<sup>)</sup>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| S/ million | **2Q24** | **1Q25** | **2Q25** | **%chg<br>QoQ** | **%chg<br>YoY** |
| Interest and similar income | 1737.1 | 1729.6 | 1715.2 | (0.8)% | (1.3)% |
| Interest and similar expenses | (623.3) | (570.7) | (578.6) | 1.4% | (7.2)% |
| **Net interest and similar income** | **1113.8** | **1158.9** | **1136.6** | **(1.9)%** | **2.0%** |
| Impairment loss on loans, net of recoveries | (474.3) | (343.0) | (308.3) | (10.1)% | (35.0)% |
| Recovery (loss) due to impairment of financial investments | 4.8 | (59.6) | (0.2) | (99.7)% | n.m. |
| **Net interest and similar income after impairment loss** | **644.3** | **756.3** | **828.1** | **9.5%** | **28.5%** |
| Fee income from financial services, net | 279.7 | 296.0 | 299.4 | 1.1% | 7.0% |
| Other income | 176.2 | 260.9 | 387.9 | 48.6% | n.m. |
| Insurance results | (18.1) | (14.8) | (30.7) | n.m. | 69.2% |
| Other expenses | (719.0) | (738.7) | (788.8) | 6.8% | 9.7% |
| Income before translation result and income tax | 363.1 | 559.7 | 695.9 | 24.3% | 91.6% |
| Translation result | (25.7) | 12.4 | 11.6 | (7.1)% | n.m. |
| Income tax | (51.3) | (126.1) | (127.9) | 1.4% | n.m. |
| **Profit for the period** | **286.2** | **446.1** | **579.6** | **29.9%** | **n.m.** |
| Attributable to IFS' shareholders | 284.5 | 443.6 | 577.2 | 30.1% | n.m. |
| **EPS** | **2.49** | **3.94** | **5.16** |  |  |
| **ROE** | **11.2%** | **16.3%** | **20.7%** |  |  |
| **ROA** | **1.2%** | **1.9%** | **2.4%** |  |  |
| **Efficiency ratio** | **38.6%** | **35.4%** | **35.9%** |  |  |

---

**<u>Quarter-on-quarter performance</u>**

Profits increased S/ 133.5 million QoQ, mainly due to an increase of S/ 127.0 million in other income, mostly driven by positive mark-to-market valuations in our wealth management business in our holding company, a recovery of S/ 59.4 million due to an impairment of financial investment in the 1Q25, a reduction of S/ 34.7 million in provision expenses and an increase of S/ 15.4 million in insurance results. These effects were partially offset by an increase of S/ 50.1 million in other expenses and a reduction of S/ 22.3 million in net interest and similar income.

The increase in other income was mostly driven by positive mark-to-market valuations in our wealth management business and in our holding company, primarily reflecting the overall recovery in market conditions and the performances of our investment portfolios.

The recovery in impairment from financial investments of S/ 59.4 million was mostly related to one off provisions made in the 1Q25 in our insurance business related to Telefonica.

The S/ 34.7 million reduction in provision expenses was mostly driven by a one-off provision made in 1Q25. Additionally, the decrease also reflects an improvement in our customers' payment performance, which in turn is partly explained by a shift in the composition of our credit portfolio toward lower-risk segments.

The increase of S/ 15.1 million in insurance results was mainly driven by S/ 1.2 million increase in annuities mostly due to a minor increase in D&S premiums and a S/ 0.7 million increase in Individual Life, offset by a reduction of S/ 0.2 million in Retail Insurance.

Other expenses showed an increase of S/ 50.1 million, in turn mostly related to an increase of S/ 42.3 million in our banking business, due to higher administrative expenses related to digital initiatives.

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Interest and similar income decreased by S/ 22.3 million, mainly due to a S/ 14.4 million reduction in income from credits, which was driven by the composition of our credit portfolio. Additionally, interest and similar expenses increased by S/ 7.9 million, primarily reflecting higher interest paid on bonds and higher volume of funding through deposits.

**<u>Year-on-year performance</u>**

Profits increased by S/ 293.4 million, primarily driven by a S/ 211.7 million rise in other income, mainly associated with higher mark-to-market valuations from our wealth management business and our holding company. The increase also reflects a S/ 166.0 million reduction in provision expenses, a S/ 22.8 million growth in net interest and similar income, and a S/ 19.7 million increase in fee income. These positive effects were partially offset by a S/ 76.6 million increase in income tax expenses, a S/ 69.9 million rise in other expenses, and a S/ 12.6 million decline in insurance results.

The S/ 211.7 million increase in other income was mainly driven by higher mark-to-market valuations across our wealth management, holding, and banking businesses. This performance was supported by improved market conditions, which led to better valuations across various components of our investment portfolio.

The reduction of S/ 166.0 million in provisions is explained by two effects: the improvement in the payment behavior of our customers, and the shift in the composition of our credit portfolio, reducing our exposure to consumer loans from 32% to 29%.

The S/ 22.8 million increase in net interest income was primarily driven by a S/ 44.7 million reduction in interest expenses, partially offset by a S/ 21.9 million decline in interest income. The lower interest expenses reflect a 125 basis point decrease in the central bank's reference rate, as well as our efforts to secure more efficient funding. On the other hand, the decrease in interest income was mainly attributable to a shift in the credit portfolio composition, consistent with prevailing market trends.

The S/ 19.7 million increase in fee income was mainly driven by higher revenues from our banking business, supported by greater transactionality among our customers. In addition, our wealth management business also contributed to the increase, in line with a 14% growth in assets under management.

The increase in income tax was in turn related to an increase of S/ 332.8 million increase in income before translation result and income tax, which in turn is related to the effects mentioned above. As a result, tax rate for the quarter is 18.4%.

Other expenses showed an increase of S/ 48.8 million which was mostly explained by higher salaries and administrative expenses, which in turn showed it most important increase in our Banking segment. The increases are mostly related to higher technology expenses, as there's a strong focus in digital initiatives and cybersecurity.

**<u>CONTRIBUTION BY SEGMENTS</u>**

The following table shows the contribution of Banking, Insurance and Wealth Management businesses to Intercorp Financial Services' net profit. The performance of each of the three segments is discussed in detail in the following sections.

**Intercorp Financial Services' Profit by business**

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **S/ million** | **2Q24** | **1Q25** | **2Q25** | **%chg<br>QoQ** | **%chg<br>YoY** |
| Banking | 220.6 | 342.8 | 328.1 | (4.3)% | 48.7% |
| Insurance | 78.5 | 92.4 | 80.9 | (12.4)% | 3.0% |
| Wealth Management | 6.3 | 37.5 | 117.0 | n.m. | n.m. |
| Corporate, eliminations and other subsidiaries | (19.2) | (26.6) | 53.6 | n.m. | n.m. |
| **IFS profit for the period** | **286.2** | **446.1** | **579.6** | **29.9%** | **n.m.** |

---

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**Interbank**

**SUMMARY**

Interbank's profit was S/ 328.1 million in 2Q25, a decrease of S/ 14.7 million, or 4.3% QoQ, and an increase of S/ 107.5 million, or 48.7% YoY.

The quarterly reduction was mainly attributed to a S/ 42.3 million increase in other expenses, mostly related to higher salaries and employee benefits, as well as administrative expenses in technology. Additionally, there were decreases of S/ 9.0 million in other income and S/ 4.7 million in net interest and similar income. These effects were partially offset by a decrease of S/ 34.3 million in provision expenses.

The annual performance in net profit was explained by S/ 165.0 million lower provisions, as well as increases of S/ 19.0 million in other income, S/ 17.9 million in net fee income from financial services and S/ 14.6 million in net interest and similar income. These effects were partially compensated by S/ 59.7 million increase in income tax and S/ 49.2 million higher other expenses.

Consequently, Interbank's ROE stood at 14.4% in 2Q25, lower than the 15.5% of the 1Q25, but higher than the 11.1% of 2Q24.

**Banking Segment's P&L Statement**

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| S/ million | **2Q24** | **1Q25** | **2Q25** | **%chg<br>QoQ** | **%chg<br>YoY** |
| Interest and similar income | 1484.4 | 1442.2 | 1450.5 | 0.6% | (2.3)% |
| Interest and similar expense | (559.4) | (497.9) | (510.9) | 2.6% | (8.7)% |
| **Net interest and similar income** | **925.0** | **944.3** | **939.6** | **(0.5)%** | **1.6%** |
| Impairment loss on loans, net of recoveries | (474.0) | (342.8) | (308.5) | (10.0)% | (34.9)% |
| Recovery (loss) due to impairment of financial investments | (1.0) | (0.7) | 0.5 | n.m. | n.m. |
| **Net interest and similar income after impairment loss** | **449.9** | **600.8** | **631.6** | **5.1%** | **40.4%** |
| Fee income from financial services, net | 195.1 | 212.9 | 213.0 | 0.0% | 9.2% |
| Other income | 128.5 | 156.5 | 147.5 | (5.8)% | 14.8% |
| Other expenses | (514.7) | (521.6) | (563.9) | 8.1% | 9.6% |
| **Income before translation result and income tax** | **258.8** | **448.7** | **428.2** | **(4.6)%** | **65.4%** |
| Translation result | 3.3 | (1.6) | 1.2 | n.m. | (64.7)% |
| Income tax | (41.6) | (104.3) | (101.3) | (2.9)% | n.m. |
| **Profit for the period** | **220.6** | **342.8** | **328.1** | **(4.3)%** | **48.7%** |
| **ROE** | **11.1%** | **15.5%** | **14.4%** |  |  |
| **Efficiency ratio** | **39.7%** | **38.8%** | **42.3%** |  |  |
| **NIM** | **5.2%** | **5.2%** | **5.1%** |  |  |
| **NIM on loans** | **7.9%** | **7.5%** | **7.5%** |  |  |

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**INTEREST-EARNING ASSETS**

The quarterly increase in interest-earning assets was mainly explained by increases of 2.4% in loans and a 5.5% increase in financial investments, partially offset by a 2.0% decrease in cash and due from banks and inter-bank funds.

The YoY growth in interest-earning assets was attributed to an increase of 26.7% in cash and due from banks and inter-bank funds and a 5.0% increase in loans; partially offset by a 2.4% decrease in financial investments.

**Interest-earning assets**

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| S/ million | **Jun-24** | **Mar-25** | **Jun-25** | **%chg<br>Jun-25/<br>Mar-25** | **%chg<br>Jun-25/<br>Jun-24** |
| Cash and due from banks and inter-bank funds | 9374.2 | 12121.0 | 11878.2 | (2.0)% | 26.7% |
| Financial investments | 12379.1 | 11456.8 | 12087.1 | 5.5% | (2.4)% |
| Loans | 46517.1 | 47712.0 | 48843.0 | 2.4% | 5.0% |
| **Total interest-earning assets** | **68270.4** | **71289.8** | **72808.2** | **2.1%** | **6.6%** |

---

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**Loan portfolio**

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| S/ million | **Jun-24** | **Mar-25** | **Jun-25** | **%chg<br>Jun-25/<br>Mar-25** | **%chg<br>Jun-25/<br>Jun-24** |
| Performing loans |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Retail | 24437.4 | 24468.1 | 24727.1 | 1.1% | 1.2% |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial | 21447.2 | 22618.2 | 23554.9 | 4.1% | 9.8% |
| **Total performing loans** | **45884.6** | **47086.3** | **48282.0** | **2.5%** | **5.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp;Restructured and refinanced loans | 468.9 | 497.6 | 471.0 | (5.3)% | 0.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;Past due loans | 1611.5 | 1330.5 | 1301.0 | (2.2)% | (19.3)% |
| **Total gross loans** | **47965.0** | **48914.4** | **50054.1** | **2.3%** | **4.4%** |
| Add (less) |  |  |  |  |  |
| Accrued and deferred interest | 555.1 | 517.3 | 500.8 | (3.2)% | (9.8)% |
| Impairment allowance for loans | (2003.0) | (1719.7) | (1711.9) | (0.5)% | (14.5)% |
| **Total direct loans, net** | **46517.1** | **47712.0** | **48843.0** | **2.4%** | **5.0%** |

---

Performing loans increased 2.5% QoQ, as retail loans increased 1.1% and commercial loans increased4.1%.

Retail loans increased 1.1% due to increases of 1.7% in mortgages, 1.3% in credit cards (more than 26% of market share), 0.6% in payroll deductible loans and 0.2% in personal loans.

The 4.1% increase in commercial loans, which keeps a solid track, was explained by increases of 3.6% in corporate banking, 6.9% in small businesses and 3.9% in mid-sized companies.

On the yearly analysis, performing loans increased 5.2%, explained by a 1.2% growth in retail and 9.8% in commercial loans.

The 1.2% increase in retail loans was mostly driven by a 7.2% increase in mortgages, partially offset by decreases of 3.6% in consumer loans and 1.6% in payroll deductible loans.

The 9.8% growth in commercial loans was in part explained by the Impulso MyPeru programme, which took part in 2024 and a large part is guaranteed by the peruvian government. Currently represents 8.9% of the commercial loan book.

As of 2Q24, 1Q25 and 2Q25, Interbank's rescheduled portfolio of Reactiva Peru loans amounted to S/ 434.0 million, S/ 111.6 million and S/ 45.2 million, respectively, representing 93.4% of total balances of Reactiva Peru loans in 1Q24, 78.8% in 1Q25 and 64.1% in 1Q25.

It is worth mentioning that these loans are guaranteed in large part by the Peruvian government. As of March 31, 2025, Interbank activated the guaranteed coverage for an amount of S/ 850.5 million.

Loan growth excluding Reactiva was 2.7% QoQ and 6.0% YoY.

**Breakdown of retail loans**

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| S/ million | **Jun-24** | **Mar-25** | **Jun-25** | **%chg<br>Jun-25/<br>Mar-25** | **%chg<br>Jun-25/<br>Jun-24** |
| **Consumer loans:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Credit cards & other loans | 8864.1 | 8495.6 | 8542.6 | 0.6% | (3.6)% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Payroll deduction loans(1) | 5759.3 | 5632.8 | 5666.3 | 0.6% | (1.6)% |
| **Total consumer loans** | **14623.4** | **14128.4** | **14208.9** | **0.6%** | **(2.8)%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mortgages | 9814.0 | 10339.7 | 10518.3 | 1.7% | 7.2% |
| **Total retail loans** | **24437.4** | **24468.1** | **24727.1** | **1.1%** | **1.2%** |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)Payroll deduction loans to public sector employees.

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**Market share in loans**

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **2Q24** | **1Q25** | **2Q25** | **bps QoQ** | **bps YoY** |
| Total consumer loans | 21.8% | 20.5% | 19.7% | -80 | -210 |
| &nbsp;&nbsp;&nbsp;&nbsp;Mortgages | 15.6% | 15.8% | 15.8% | 0 | 20 |
| Total retail loans | 18.8% | 18.2% | 17.9% | -30 | -90 |
| Total commercial loans | 10.2% | 10.9% | 11.1% | 20 | 90 |
| **Total loans** | 13.5% | 13.8% | 13.8% | 0 | 30 |

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**FUNDING STRUCTURE**

**Funding structure**

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| S/ million | **Jun-24** | **Mar-25** | **Jun-25** | **%chg<br>Jun-25/<br>Mar-25** | **%chg<br>Jun-25/<br>Jun-24** |
| Deposits and obligations | 48472.9 | 50673.7 | 52036.0 | 2.7% | 7.4% |
| Due to banks and correspondents and inter-bank funds | 8645.9 | 6606.9 | 7072.6 | 7.0% | (18.2)% |
| Bonds, notes and other obligations | 4392.7 | 5721.7 | 5602.9 | (2.1)% | 27.6% |
| **Total** | **61511.4** | **63002.3** | **64711.4** | **2.7%** | **5.2%** |
| % of funding |  |  |  |  |  |
| Deposits and obligations | 78.8% | 80.4% | 80.4% |  |  |
| Due to banks and correspondents and inter-bank funds | 14.1% | 10.5% | 10.9% |  |  |
| Bonds, notes and other obligations | 7.0% | 9.1% | 8.7% |  |  |

---

The bank's total funding base increased 2.7% QoQ, in line with the 2.1% growth in interest-earning assets. This was explained by increases of 7.0% in due to banks and correspondents and interbank funds and 2.7% in deposits and obligations, partially offset by a reduction of 2.1% in bonds, notes and other obligations.

The quarterly increase in deposits of S/ 1,362.3 million was primarily explained by increases of 7.8% in commercial deposits, with an increase of more than 20% in small businesses, and 2.1% in institutional deposits, while consumer deposits remained stable. Also, demand deposits and saving deposits grew 3.6% and 3.4% respectively, while time deposits grew 1.4%; this deposit growth supported our strategy to prioritize lower-cost funding, leading to efficient funding accounting for 34%.

As a result, the bank deposit composition is 26% demand deposits, 38% saving deposits and 36% time deposits, and the proportion of deposits and obligations to total funding remained stable at 80.4%.

The bank's total funding increased by 5.2% YoY, below the 6.6% growth in interest-earning assets. This was explained by increase of 27.6% in bonds, notes and other obligations, related to short term emissions in the local market and a $350 million emission in the international market, as well as a 7.4% growth in deposits, partially offset by a 18.2% reduction in amounts due to banks and interbank funds, related to lower funding provided by inter-bank funds and the Central Bank.

The annual increase in deposits was mainly due to increases of 19.5% in institutional deposits, 9.0% in commercial deposits and 2.8% in retail deposits. Also, demand deposits increased 9.0%, saving deposits 5.9% and time deposits, 7.7%. The bank is strongly focus in promoting its efficient funding, which increased 12% YoY, and represents 34% of our total funding base.

As of June 30, 2025, the proportion of deposits and obligations to total funding was 80.4%, higher than the 78.8% reported as of June 30, 2024.

------

**Breakdown of deposits**

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| S/ million | **Jun-24** | **Mar-25** | **Jun-25** | **%chg<br>Jun-25/<br>Mar-25** | **%chg<br>Jun-25/<br>Jun-24** |
| By customer service: |  |  |  |  |  |
| Retail | 25304.0 | 26029.9 | 26017.6 | (0.0)% | 2.8% |
| Commercial | 15117.5 | 15277.1 | 16477.1 | 7.9% | 9.0% |
| Institutional | 7580.6 | 8878.3 | 9061.3 | 2.1% | 19.5% |
| Other | 470.8 | 488.3 | 480.0 | (1.7)% | 1.9% |
| **Total** | **48472.9** | **50673.7** | **52036.0** | **2.7%** | **7.4%** |
| By type: |  |  |  |  |  |
| Demand | 12257.2 | 12896.6 | 13358.6 | 3.6% | 9.0% |
| Savings | 18796.0 | 19262.7 | 19911.3 | 3.4% | 5.9% |
| Time | 17414.1 | 18498.0 | 18759.4 | 1.4% | 7.7% |
| Other | 5.6 | 16.5 | 6.6 | (60.0)% | 17.0% |
| **Total** | **48472.9** | **50673.7** | **52036.0** | **2.7%** | **7.4%** |

---

**Market share in deposits**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **2Q24** | **1Q25** | **2Q25** | **bps QoQ** | **bps YoY** |
| Retail deposits | 15.0% | 14.5% | 14.5% | 0 | -50 |
| Commercial deposits | 12.3% | 12.4% | 13.0% | 60 | 70 |
| Total deposits | 13.6% | 13.4% | 13.7% | 30 | 10 |

---

**NET INTEREST AND SIMILAR INCOME**

**Net interest and similar income**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| S/ million | **2Q24** | **1Q25** | **2Q25** | **%chg<br>QoQ** | **%chg<br>YoY** |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest and similar income | 1484.4 | 1442.2 | 1450.5 | 0.6 | (2.3 |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest and similar expense | (559.4) | (497.9) | (510.9) | 2.6 | (8.7 |
| **Net interest and similar income** | **925.0** | **944.3** | **939.6** | **(0.5** | **1.6** |
| **NIM** | **5.2%** | **5.2%** | **5.1%** | **-10** | **-10** |

---

**Interest and similar income**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Interest and similar income | **2Q24** | **1Q25** | **2Q25** | **%chg<br>QoQ** | **%chg<br>YoY** |
| **Interest and similar income** |  |  |  |  |  |
| Due from banks and inter-bank funds | 80.3 | 80.2 | 76.2 | (4.9 | (5.0 |
| Financial investments | 142.9 | 140.2 | 132.6 | (5.4 | (7.2 |
| Loans | 1261.2 | 1221.8 | 1241.6 | 1.6 | (1.6 |
| **Total Interest and similar income** | **1484.4** | **1442.2** | **1450.5** | **0.6** | **(2.3** |
| Average interest-earning assets | 70534.1 | 72710.7 | 73764.8 | 1.4 | 4.6 |
| Average yield on assets (annualized) | 8.4% | 7.9% | 7.9% | 0 | -50 |

---

------

**Interest and similar expense**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Interest and similar expense | **2Q24** | **1Q25** | **2Q25** | **%chg<br>QoQ** |  | **%chg<br>YoY** |
| **Interest and similar expense** |  |  |  |  |  |  |
| Deposits and obligations | (381.6) | (320.9) | (325.1) | 1.3 | % | (14.8 |
| Due to banks and correspondents and inter-bank funds | (114.4) | (96.4) | (98.2) | 1.8 | % | (14.2 |
| Bonds, notes and other obligations | (63.4) | (80.6) | (87.6) | 8.7 | % | 38.0 |
| **Total Interest and similar expense** | **(559.4)** | **(497.9)** | **(510.9)** | **2.6** | **%** | **(8.7** |
| Average interest-bearing liabilities | 61485.8 | 62889.7 | 63856.9 | 1.5 | % | 3.9 |
| Average cost of funding (annualized) | 3.6% | 3.2% | 3.2% | 0 | bps | -40 |

---

<u>QoQ Performance</u>

Net interest and similar income decreased 0.5% QoQ, with NIM decreasing by 10pbs, in line with an increase in the average interest-earning assets.

Risk-adjusted NIM increased by 10bps QoQ, in line with a lower cost of risk, which in turn is due to a better payment behavior and a shift in the composition of the loan portfolio.

Net interest and similar income increase was mainly explained by a 1.6% increase in interest on loans, partially offset by decreases of 7.2% in interest on financial investments and 5.0% interest on due from banks and inter-bank funds.

Interest on loans increased S/ 19.8 million QoQ, or 1.6%, explained by a 1.2% increase in the average volume, while the average yield remained stable.

The higher average volume of loans was attributed to a 3.6% increase in commercial loans and 1.1% increase in retail loans. In the commercial portfolio, average loans increased mainly in trade finance loans, working capital loans and in leasing operations. In the retail portfolio, the average balances of mortgages showed an increase of 1.8%, credit cards and payroll deductible loans also increased, partially offset by a slight decrease in personal loans.

Interest on financial investments decreased S/ 7.6 million QoQ, or 5.4%, explained by a decrease of 50 basis points in the average yield, in turn related to higher dividends received in the previous quarter, partially offset by an increase of 4.0% in the average volume.

Interest on due from banks and inter-bank funds decreased S/ 4.0 million QoQ, or 4.9%, explained by a decrease in the average yield of 20 basis points, related to 25bps lower soles reference rate.

The nominal average yield on interest-earning assets remained stable at 7.9%.

The higher interest and similar expense was due to increases of 1.3% in interest on deposits and obligations, 1.8% in interest on due to banks and correspondents, and 8.7% increase in bonds, notes and other obligations.

Interest on deposits and obligations increased S/ 4.2 million QoQ, or 1.3% explained by a 0.9% increase in the average volume, while the average cost remained stable. By currency, the average balance of soles-denominated deposits increased 1.0% while average dollar-denominated deposits decreased 0.5%.

Interest on due to banks and correspondents increased S/ 1.8 million QoQ, or 1.8%, explained by a 50 bps increase in the average cost, partially offset by a 23.0% decrease in the average volume.

Bonds, notes, and other obligations showed an increase of 8.7%, or S/ 7.0 million, which was mostly explained by an increase of 9.0% in the average volume. The effect is related to the issuance of a subordinated bond in international markets for US$350 million.

As a result, the average cost of funding remained stable at 3.2% in 2Q25 compared to 1Q25, and net interest margin was 5.1% in 2Q25, 10 basis points lower than the 5.2% of the 1Q25.

<u>YoY Performance</u>

Net interest and similar income increased by 1.6% YoY, with NIM decreasing by 10pbs, in line with an increase in the average interest-earning assets.

------

Risk-adjusted NIM increased by 80bps YoY, in line with a lower cost of risk, which in turn is due to a better payment behavior and a shift in the composition of the loan portfolio.

Net interest and similar income reduction was mainly explained by decreases of 7.2% in interest on financial investments, 5.0% in interest on due from banks and inter-bank funds, and 1.6% in interest on loans.

Interest on financial investments decreased S/ 10.3 million YoY, explained by 20 basis point reduction in the average yield, in line with the downward trend of the central bank reference rate, as well as a 3.0% decrease in the average volume.

Interest on due from banks and inter-bank funds decreased S/ 4.0 million, mostly due to a 50 basis point reduction in the average yield, partially offset by an 11.2% increase in the average volume.

Interest on loans decreased S/ 19.6 million YoY, explained by 70 basis point reduction in the average yield, associated with a loan mix shift towards lower risk products. This was partially offset by a 5.0% increase in the average volume.

The higher average volume of loans was attributed to growth of 11.8% in commercial loans, partially offset by a decrease of 0.6% in retail loans. In the commercial portfolio, average volumes grew due to increases of 30.4% in trade finance loans, 5.8% in working capital loans, as well as 5.3% in leasing operations. In the retail portfolio, average volumes lowered due to 5.2% decrease in total consumer loans, partially compensated by a 7.1% increase in mortgages.

The nominal average yield on interest-earning assets lowered 50 basis points to 7.9% in 2Q25, from 8.4% in 2Q24.

The higher interest and similar expense was due to an increase of 38.0% in bonds, notes and other obligations. This effect was partially offset by a decrease of 14.8% in deposits and obligations and 14.2% in due to bank and correspondents.

Interest on bonds, notes and other obligations increased S/ 24.2 million YoY, or 38.0%, mainly explained by a 31.0% increase in the average volume, as well as a 30 basis points increase in the average cost. This impact was associated to the issuance of $350 million subordinated bond in January 2025.

The decrease in interest on deposits and obligations was explained by 70 basis point decrease in the average cost, from 3.2% in 2Q24 to 2.5% in 1Q25, which reflects the impacts of the efficient and short-term funding policy of the bank, as well as the 125bps reduction in the central bank reference rate. This effect was partially compensated by a 6.4% increase in the average volume. By currency, average balances of soles-denominated deposits grew 7.3% while dollar-denominated deposits grew 4.7%.

Interest on due to banks and correspondents decreased mainly as a result of 23.0% reduction in the average volume.

As a result, the average cost of funding decreased 40 basis points from 3.6% in 2Q24 to 3.2% in 2Q25; and net interest margin was 5.1% in 2Q25, 10 basis point lower than the 5.2% of the 2Q24.

**IMPAIRMENT LOSS ON LOANS, NET OF RECOVERIES**

Impairment loss on loans, net of recoveries, decreased 10.0% QoQ.

The quarterly performance was explained by lower provision requirements in the commercial loan book. This effect was partially offset by higher provision requirements in the retail loan book, which showed increases in provision expenses for consumer loans and payroll deductible loans.

The S3 NPL ratio remained stable at the level of 2.5%. The cost of risk remains at low levels at 2.5% in 2Q25, lower than the 2.8% of 1Q25(2.5% excluding Telefonica effect). The S3 NPL coverage ratio was 141.0% as of June 30, 2025, lower than the 142.4% registered as of March 31, 2025, within our risk appetite.

Impairment loss on loans, net of recoveries decreased 34.9% YoY. The yearly performance was explained by lower provision requirements in the retail loan book, in turn related to a better payment behavior in consumer loans and mortgages, as well as a shift in the composition of the loan book towards lower risk segments. In the commercial portfolio, the provision reduction was led by lower requirements in the corporate and mid-sized companies.

The S3 NPL ratio decreased YoY, from 3.2% in 2Q24 to 2.5% in 2Q25. The cost of risk remains at low levels at 2.5% in 2Q25, 150 basis points lower than in 2Q24. The S3 NPL coverage ratio was 141.0% as of June 30, 2025, higher than the 132.6% and as of June 30, 2024, within our risk appetite.

------

The quarterly performance was mainly driven by a 70-bps decrease in the commercial cost of risk (CoR), partially offset by a slight increase in retail CoR to 4.2%, bringing the overall banking CoR down to 2.5%. YoY performance reflected continued improvement, as consumer CoR fell by 300 bps, underscoring ongoing enhancements in credit quality.

Total NPLs increased 0.5% QoQ, reaching S/ 1,224 million in 2Q25. The quarterly improvement was mainly driven by a 10 bps decrease in the commercial NPL ratio, from 1.7% in 1Q25 to 1.6% in 2Q25. Moreover, the commercial NPL coverage ratio increased by 6.8%, reaching 89.9% in 2Q25. However, retail coverage declined by 7.4% QoQ, from 170.9% to 163.5%. This resulted in a slight decline in total banking coverage from 142.4% to 141.0%.

Total NPLs decreased by 19.5% YoY, NPL ratio improved to 2.5% in 2Q25. The yearly improvement was the result of an 80-bps decline in the commercial NPL ratio and a 60-bps improvement in the retail NPL ratio. The S3 NPL ratio declined by 70 bps, from 3.2% to 2.5% YoY. This effect was also reflected in the coverage ratio, which improved by 8.4% in the total banking segment. The significant increase in the commercial segment's coverage ratio, from 67.7% to 89.9%, supported the overall performance.

**Impairment loss on loans, net of recoveries**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Impairment loss on loans, net of recoveries | **2Q24** | **1Q25** | **2Q25** | **%chg<br>QoQ** | **%chg<br>YoY** |
| Impairment loss on loans, net of recoveries | (474.0) | (342.8) | (308.5) | (10.0 | (34.9 |
| Impairment loss on loans/average gross loans | 4.0% | 2.8% | 2.5% | -30 | -150 |
| S3 NPL ratio (at end of period) | 3.2% | 2.5% | 2.4% | -10 | -80 |
| S3 NPL coverage ratio (at end of period) | 132.6% | 142.4% | 141.0% | -140 | n.m. |
| Impairment allowance for loans | 2003.0 | 1719.7 | 1711.9 | (0.5 | (14.5 |

---

**FEE INCOME FROM FINANCIAL SERVICES, NET**

Net fee income from financial services showed S/ 0.1 million increase QoQ, mainly explained by higher commissions from credit card services, partially offset by lower commissions from banking services. These effects were partially compensated by a S/ 7.9 million growth in total expenses QoQ.

Net fee income from financial services increased S/ 17.9 million YoY, or 9.2%, mainly due to higher commissions from credit card services, commissions from banking services, and fees from maintenance and mailing of accounts. This increase is related to an increase in transactional activity from our consumers. These effects were partially offset by an increase of S/ 4.5 million in total expenses YoY.

**Fee income from financial services, net**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Fee income from financial services, net | **2Q24** | **1Q25** | **2Q25** | **%chg<br>QoQ** | **%chg<br>YoY** |
| **Income** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Commissions from credit card services | 105.3 | 109.5 | 110.8 | 1.2% | 5.2% |
| &nbsp;&nbsp;&nbsp;&nbsp;Commissions from banking services | 84.4 | 97.6 | 89.4 | (8.4)% | 5.9% |
| &nbsp;&nbsp;&nbsp;&nbsp;Maintenance and mailing of accounts, transfer fees and commissions on debit card services | 80.7 | 81.8 | 81.8 | 0.1% | 1.4% |
| &nbsp;&nbsp;&nbsp;&nbsp;Fees from indirect loans | 16.3 | 16.3 | 16.8 | 3.2% | 3.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;Collection services | 13.9 | 13.3 | 12.6 | (4.9)% | (9.0)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Other | 7.3 | 10.7 | 9.9 | (7.5)% | 35.5% |
| **Total income** | **307.9** | **329.1** | **321.3** | **(2.4)%** | **4.4%** |
| **Expenses** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Insurance | (17.4) | (16.4) | (15.6) | (4.3)% | (10.0)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Fees paid to foreign banks | (6.7) | (6.7) | (6.6) | (0.6)% | (1.6)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Other | (88.6) | (93.1) | (86.0) | (7.6)% | (2.9)% |
| **Total expenses** | **(112.8)** | **(116.2)** | **(108.3)** | **(6.7)%** | **(4.0)%** |
| **Fee income from financial services, net** | **195.1** | **212.9** | **213.0** | **0.0%** | **9.2%** |

---

**OTHER INCOME**

------

Other income decreased S/ 9.0 million QoQ, mainly explained by lower net gain on foreign exchange transactions and extraordinary concepts, partially offset by higher net gain on sale of financial investments.

Other income increased by S/ 19.0 million YoY, mainly driven by a higher net gain on financial investments, primarily due to gains on local bonds. The increase also reflects income from the sale of property, as well as higher results from foreign exchange transactions.

**Other income**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Other income | **2Q24** | **1Q25** | **2Q25** | **%chg<br>QoQ** | **%chg<br>YoY** |
| Net gain on foreign exchange transactions and on financial assets at fair value through profit or loss | 111.0 | 115.7 | 115.8<br><sup>(1)</sup> | 0.1% | 4.3% |
| Net gain on sale of financial investments | 2.4 | 11.4 | 12.2 | 7.0% | n.m. |
| Other | 15.1 | 29.4 | 19.5 | (33.7)% | 29.1% |
| **Total other income** | **128.5** | **156.5** | **147.5** | **(5.8)%** | **14.8%** |

---

**OTHER EXPENSES**

Other expenses increased S/ 43.2 million QoQ, or 8.1%, due to an increase of S/ 10.8 million, or 5.1%, in technology expenses, as well as higher salaries and employee benefits.

Other expenses increased S/ 49.2 million YoY, or 9.6%, due an increase of S/ 24.4 million, or 12.5%, in technology expenses and higher salaries and employee benefits.

**Other expenses**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Other expenses | **2Q24** | **1Q25** | **2Q25** | **%chg<br>QoQ** |  | **%chg<br>YoY** |
| Salaries and employee benefits | (155.8) | (181.9) | (191.0) | 5.0 | % | 22.6 |
| Administrative expenses | (264.3) | (255.7) | (280.7) | 9.8 | % | 6.2 |
| Depreciation and amortization | (75.2) | (72.6) | (78.1) | 7.7 | % | 3.9 |
| Other | (19.4) | (11.4) | (14.0) | 23.2 | % | (27.7 |
| **Total other expenses** | **(514.7)** | **(521.6)** | **(563.9)** | **8.1** | **%** | **9.6** |
| **Efficiency ratio** | **39.7%** | **38.8%** | **42.3%** | **350** | **bps** | **260** |

---

**REGULATORY CAPITAL**

The bank's total capital ratio stood at 16.9% as of 2Q25, below the 17.2% reported in 1Q25 and above the 15.0% recorded in 2Q24.

Core Equity Tier 1 (CET1) stood at 11.7%, slightly above the 11.6% registered in 1Q25 as a result of the application of 2024 profits and higher than the 11.2% reported in 2Q24.

Both ratio are significantly exceeding their limits plus additional buffers and capital allocated to cover additional risks, as required by the SBS.

In December 2022, the Superintendencia de Banca, Seguros y AFP (SBS) issued Resolution No. 03952-2022, establishing that starting March 1, 2023, the global limit would remain at 8.5%, following a progressive adjustment schedule until March 2024, when the limit would increase to 10.0%. This deadline was later modified by subsequent resolutions, with Resolution No. 274-2024, published in January 2024, being the latest valid modification. This resolution set the final implementation deadline for the global limit to March 2025.

As of 2Q25, risk-weighted assets (RWA) increased by 4.6% QoQ, mainly due to higher capital requirements for credit risk. The higher RWA for credit risk was the result of an increase in loans. Meanwhile, regulatory capital increased 2.5% QoQ, attributed to the growth in net profit and an improvement in unrealized results.

The YoY movement in regulatory capital was mainly the result of the application of profits from the 2024 financial year, profit for 2025, the issuance of subordinated bonds, and an improvement in the unrealized result of the available-for-sale investment portfolio.

------

The annual increase in the capital ratio was explained by an 18.2% growth in total regulatory capital, which offset the 5.0% increase in RWA. The RWA growth was the result of higher capital requirements for credit risk, mainly due to an increase in loans, partially offset by lower RWA for other assets.

**Regulatory capital**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Regulatory capital | **Jun-24** | **Mar-25** | **Jun-25** | **%chg<br>Jun-25/<br>Mar-25** | **%chg<br>Jun-25/<br>Jun-24** |  |
| Tier I capital | 7282.9 | 7567.2 | 7932.8 | 4.8 | 8.9 | % |
| Tier II capital | 2412.3 | 3617.6 | 3537.8 | (2.2 | 46.7 | % |
| Total regulatory capital | 9695.2 | 11184.8 | 11461.6 | 2.5 | 18.2 | % |
| Risk-weighted assets (RWA) | 64741.7 | 65006.0 | 67973.0 | 4.6 | 5.0 | % |
| **Total capital ratio** | **15.0%** | **17.2%** | **16.9%** | **-30** | **190** | **bps** |
| **Tier I capital / RWA** | **11.2%** | **11.6%** | **11.7%** | **10** | **50** | **bps** |
| **CET1** | **11.2%** | **11.6%** | **11.7%** | **10** | **50** | **bps** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)Under the new SBS regulation on solvency, in effect from January 1st, 2023 onwards, CET1 is part of the Total capital ratio, in line with Basel III guidelines.

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**Interseguro**

**SUMMARY**

Interseguro's profits reached S/ 80.9 million in 2Q25, a quarterly decrease of S/ 11.5 million, or 12.4%, and an increase of S/ 2.4 million, or 3.0%, compared to 2Q24.

The quarterly decrease was mainly explained by decreases of S/ 31.9 million in net interest and similar income due to a lower inflation rate reducing inflation-linked interest income, S/ 23.8 million in other income mostly related to higher real estate valuation gains in 1Q25, and S/ 15.9 million in insurance results driven by adjustments in Individual Life technical reserves. These effects were partially offset by a S/ 58.6 million increase from the impairment of financial investments related to Telefonica del Peru in 1Q25.

The annual performance in net profit was mainly explained by increases of S/ 31.0 million in translation result due to a net position in PEN with a stronger currency, and S/ 7.3 million in net interest and similar income due to higher income from fixed-income securities. These effects were partially offset, mainly by a S/ 12.6 million decrease in insurance results (again, driven by adjustments in Individual Life reserves) and a S/ 8.2 million reduction in other income related to FX impacts in real estate valuations.

As a result, Interseguro's ROE was 47.5% for 2Q25 compared to the 58.3% and 58.5% registered in 1Q25 and 2Q24respectively.

**Insurance Segment's P&L Statement**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| S/ million | **2Q24** | **1Q25** | **2Q25** | **%chg<br>QoQ** | **%chg<br>YoY** |
| Interest and similar income | 205.9 | 258.2 | 221.0 | (14.4)% | 7.3% |
| Interest and similar expenses | (36.4) | (49.5) | (44.1) | (10.8)% | 21.2% |
| **Net interest and similar income** | **169.5** | **208.7** | **176.8** | **(15.3)%** | **4.3%** |
| Recovery (loss) due to impairment of financial investments | 6.1 | (59.0) | (0.4) | (99.3)% | n.m. |
| **Net interest and similar income after impairment loss** | **175.6** | **149.8** | **176.4** | **17.8%** | **0.5%** |
| Fee income from financial services, net | (2.5) | (3.2) | (3.2) | 1.2% | 26.2% |
| Insurance results | (18.1) | (14.8) | (30.7) | n.m. | 69.2% |
| Other income | 45.0 | 60.6 | 36.8 | (39.2)% | (18.3)% |
| Other expenses | (100.2) | (114.0) | (108.2) | (5.2)% | 8.0% |
| **Income before translation result and income tax** | **99.7** | **78.3** | **71.1** | **(9.2)%** | **(28.7)%** |
| Translation result | (21.2) | 14.1 | 9.8 | (30.4)% | n.m. |
| **Profit for the period** | **78.5** | **92.4** | **80.9** | **(12.4)%** | **3.0%** |
| **ROE** | **58.5%** | **58.3%** | **47.5%** |  |  |
| **Efficiency ratio** | **13.5%** | **11.2%** | **12.0%** |  |  |

---

------

**RESULTS FROM INVESTMENTS**

**Results from Investments** <sup>(1)</sup>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| S/ million | **2Q24** | **1Q25** | **2Q25** | **%chg<br>QoQ** | **%chg<br>YoY** |
| Interest and similar income | 205.9 | 258.2 | 221.0 | (12.4)% | 3.0% |
| Interest and similar expenses | (22.9) | (20.0) | (21.7) | 8.5% | (5.1)% |
| **Net interest and similar income** | **183.0** | **238.2** | **199.3** | **(16.4)%** | **8.9%** |
| Recovery (loss) due to impairment of financial investments | 6.1 | (59.0) | (0.4) | (99.3)% | n.m. |
| **Net Interest and similar income after impairment loss** | **189.1** | **179.3** | **198.8** | **10.9%** | **5.1%** |
| Net gain (loss) on sale of financial investments | 5.9 | 4.9 | 8.0 | 63.3% | 36.4% |
| Net gain (loss) on financial assets at fair value through profit or loss | (12.2) | 1.4 | 12.5 | n.m. | n.m. |
| Rental income | 17.7 | 18.4 | 19.1 | 3.8% | 8.1% |
| Gain on sale of investment property | (3.2) | 0.0 | 0.0 | n.m. | n.m. |
| Valuation gain (loss) from investment property | 33.9 | 33.7 | (5.6) | n.m. | n.m. |
| Other(1) | (4.9) | (5.1) | (3.1) | (39.4)% | (37.4)% |
| **Other income** | **37.2** | **53.3** | **31.0** | **(41.9)%** | **(16.7)%** |
| **Results from investments** | **226.3** | **232.6** | **229.8** | **(1.2)%** | **1.6%** |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)Only includes transactions related to investments.

**NET INTEREST AND SIMILAR INCOME**

Net interest and similar income related to investments was S/ 199.3 million in 2Q25, a decrease of S/ 38.9 million QoQ, or 16.4%, and an increase of S/ 16.3 million YoY, or 8.9%.

The quarterly performance was mainly explained by a decrease of S/ 37.2 million in interest and similar income due to extraordinary dividends received in 1Q25 and reduced interest from inflation-indexed bonds.

On the other hand, the improvement in the yearly performance was mainly due to an increase of S/ 15.1 million in interest and similar income related to higher interests from inflation-indexed bonds.

**RECOVERY (LOSS) DUE TO IMPAIRMENT OF FINANCIAL INVESTMENTS**

Recovery due to impairment of financial investments was S/ 0.4 million in 2Q25, mostly related to accrued interests and impaired bond payments. By comparison, a loss of S/ 59.0 million was recorded as impairment in 1Q25 related to Telefonica del Peru.

**OTHER INCOME**

Other income related to investment was S/ 31.0 million in 2Q25, a decrease of S/ 22.3 million QoQ and a decrease of S/ 6.2 million YoY.

The quarterly decrease was explained by a reduction of S/ 39.3 million in valuation gain from investment property due to a lower discount rate in 1Q25, partially offset by a higher gain on financial assets at fair value through profit of S/ 11.1 million and a higher gain of S/ 3.1 million on sale of financial investments.

The annual decrease also reflects a S/ 39.5 million lower valuation gain from investment property, mainly due to FX fluctuations, partially offset by a S/ 24.7 million gain on financial assets at fair value through profit.

**INSURANCE RESULTS**

------

**Insurance Results**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| S/ million | **2Q24** | **1Q25** | **2Q25** | **%chg<br>QoQ** | **%chg<br>YoY** |
| Annuities | (123.4) | (123.0) | (122.6) | (0.4)% | (0.7)% |
| Individual Life | 36.6 | 43.4 | 25.8 | (40.5)% | (29.5)% |
| Retail insurance | 68.7 | 64.9 | 66.1 | 1.8% | (3.8)% |
| **Insurance Results** | **(18.1)** | **(14.8)** | **(30.7)** | **107.7%** | **69.2%** |

---

Insurance results decreased S/ 15.7 million QoQ mostly due to a reduction of S/ 17.6 million in individual life, partially offset by increases of S/ 0.4 million in annuities, and S/ 1.2 million in retail insurance.

The quarterly reduction in individual life was mainly due to a S/ 17.9 million in VFA technical reserve adjustment. This effect was partially offset by lower claims from the DNS portfolio in annuities, and an adjustment of reserve parameters in 1Q25 in retail insurance.

Insurance results decreased S/ 12.6 million YoY, mostly due to reductions of S/ 10.8 million in individual life and S/ 2.6 million in retail insurance, partially offset by an increase of S/ 0.8 million in annuities.

The reduction in individual life was mainly due to VFA technical reserve adjustment. Also, in retail insurance, the decrease was due to a higher number of non-profitable new policies. These effects were partially offset by an increase in annuities, mostly related to the adquisition of a DNS portfolio.

CSM Stock increased 5.1% QoQ and 16.7% YoY. The quarterly performance was driven by new individual life profitable contracts issued in 2Q25, mainly sold by digital channels. In contrast, the yearly performance shows a decrease in credit life CSM mainly due to a one-time adjustment related to lapsed policies.

**OTHER EXPENSES** 

**Other Expenses**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| S/ million | **2Q24** | **1Q25** | **2Q25** | **%chg<br>QoQ** | **%chg<br>YoY** |
| Salaries and employee benefits | (30.7) | (33.9) | (32.6) | (3.7)% | 6.1% |
| Administrative expenses | (17.5) | (19.8) | (19.6) | (0.9)% | 12.3% |
| Depreciation and amortization | (5.4) | (5.4) | (4.4) | (19.7)% | (19.5)% |
| Expenses related to rental income | (3.6) | (4.7) | (2.9) | (38.9)% | (19.7)% |
| Other | (43.0) | (50.2) | (48.7) | (3.1)% | 13.2% |
| **Other expenses** | **(100.2)** | **(114.0)** | **(108.2)** | **(5.2)%** | **8.0%** |

---

Other expenses decreased by S/ 5.8 million QoQ, or 5.2%, and increased S/ 8.0 million YoY, or 8.0%.

------

**Inteligo**

**SUMMARY**

Inteligo'snet profit was S/ 117.0 million in 2Q25, representing an improvement of S/ 79.5 million QoQ and S/ 110.7 million YoY.

The quarterly performance was mainly attributable to mark-to-market profits on proprietary portfolio investments, which increased by S/ 89.4 million QoQ, and an increase of S/ 3.6 million in fee income from financial services. These increases were partially offset by a S/ 8.2 million rise in other expenses, primarily due to higher personnel-related costs.

The annual performance was also mainly attributable to mark-to-market profits on proprietary portfolio investments, which increased by S/ 123.8 million YoY, as well as a S/ 7.2 million increase in fee income from financial services, primarily due to higher revenues from our local mutual funds subsidiary.

From a business development perspective, Inteligo's client acquisition efforts continued to yield positive results in terms of new account openings and growth in assets under management (AUM) in both private wealth management and mutual funds. As a result, Inteligo's AUM grew by 3.5% QoQ (-0.1% adjusted for exchange rate effects) and 13.9% YoY (5.3% adjusted for exchange rate effects) as of June 30, 2025.

Inteligo's return on equity (ROE) stood at 43.9% in 2Q25, significantly higher than 14.2% reported in 1Q25.

**Wealth Management Segment's P&L Statement**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| S/ million | **2Q24** | **1Q25** | **2Q25** | **%chg<br>QoQ** | **%chg<br>YoY** |
| Interest and similar income | 44.3 | 40.6 | 43.1 | 6.3% | (2.6)% |
| Interest and similar expenses | (27.2) | (23.8) | (25.3) | 6.1% | (7.1)% |
| **Net interest and similar income** | **17.1** | **16.7** | **17.8** | **6.5%** | **4.5%** |
| Impairment loss of loans, net of recoveries | (0.3) | (0.2) | 0.2 | n.m. | n.m. |
| Recovery (loss) due to impairment of financial investments | (0.3) | 0.1 | (0.2) | n.m. | (18.8)% |
| **Net interest and similar income after impairment loss** | **16.5** | **16.6** | **17.8** | **7.7%** | **8.0%** |
| Fee income from financial services, net | 42.4 | 46.0 | 49.6 | 7.8% | 17.0% |
| Other income | (12.1) | 22.3 | 22.3 | n.m. | n.m. |
| Other expenses | (38.4) | (39.2) | (47.4) | 21.0% | 23.4% |
| **Income before translation result and income tax** | **8.4** | **45.7** | **131.7** | **n.m.** | **n.m.** |
| Translation result | 0.8 | 0.4 | 2.2 | n.m. | n.m. |
| Income tax | (2.9) | (8.6) | (16.9) | 96.6% | n.m. |
| **Profit for the period** | **6.3** | **37.5** | **117.0** | **n.m.** | **n.m.** |
| **ROE** | **2.7%** | **14.2%** | **43.9%** |  |  |
| **Efficiency ratio** | **81.1%** | **45.4%** | **25.6%** |  |  |

---

**ASSETS UNDER MANAGEMENT & DEPOSITS**

AUM reached US$7,766 million in 2Q25, a US$262 million or 3.5% increase QoQ, mostly explained by inflows in mutual funds and private wealth management.

Client deposits were S/ 3,322 million in 2Q25, a S/ 124 million or 3.7% increase QoQ.

AUM reached US$7,766 million in 2Q25, a US$949 million or 13.9% increase YoY, mostly explained by inflows in mutual funds and private wealth management.

Client deposits were S/ 3,322 million in 2Q25, a S/ 1 million increase YoY.

------

**NET INTEREST AND SIMILAR INCOME**

**Net interest and similar income**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| S/ million | **2Q24** | **1Q25** | **2Q25** | **%chg<br>QoQ** | **%chg<br>YoY** |
| **Interest and similar income** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Due from banks and inter-bank funds | 7.3 | 3.3 | 4.3 | 29.7% | (40.8)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Financial Investments | 13.5 | 14.5 | 15.5 | 6.6% | 14.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;Loans | 23.4 | 22.7 | 23.3 | 2.7% | (0.5)% |
| **Total interest and similar income** | **44.3** | **40.6** | **43.1** | **6.3%** | **(2.6)%** |
| **Interest and similar expenses** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Deposits and obligations | (25.5) | (21.7) | (23.1) | 6.6% | (9.4)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Due to banks and correspondents | (1.7) | (2.1) | (2.2) | 1.3% | 27.7% |
| **Total interest and similar expenses** | **(27.2)** | **(23.8)** | **(25.3)** | **6.1%** | **(7.1)%** |
| **Net interest and similar income** | **17.1** | **16.7** | **17.8** | **6.5%** | **4.5%** |

---

Net interest and similar income was S/ 17.8 million in 2Q25, a S/ 1 million, or 6.5% QoQ, mainly explained by higher interest in financial investments and due from banks and inter-bank funds.

Net interest and similar income increased S/ 0.7 million YoY, or 4.5%, mainly because of higher interest income in financial investments and lower interest expenses in deposits and obligations.

**FEE INCOME FROM FINANCIAL SERVICES**

**Fee income from financial services, net**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| S/ million | **2Q24** | **1Q25** | **2Q25** | **%chg<br>QoQ** | **%chg<br>YoY** |
| **Income** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Brokerage and custody services | 3.7 | 4.7 | 5.3 | 13.5% | 42.9% |
| &nbsp;&nbsp;&nbsp;&nbsp;Funds management | 39.0 | 41.8 | 44.8 | 7.1% | 14.7% |
| **Total income** | **42.7** | **46.5** | **50.1** | **7.8%** | **17.1%** |
| **Expenses** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Brokerage and custody services | (0.2) | (0.2) | (0.3) | 37.3% | 55.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;Others | (0.2) | (0.3) | (0.2) | (18.4)% | 22.5% |
| **Total expenses** | **(0.4)** | **(0.5)** | **(0.5)** | **6.3%** | **39.4%** |
| **Fee income from financial services, net** | **42.4** | **46.0** | **49.6** | **7.8%** | **17.0%** |

---

Net fee income from financial services was S/ 49.6 million in 2Q25, a S/ 3.6 million increase, or 7.8% QoQ, mainly explained by higher fees from funds management. This was explained by asset under management growth in private wealth management.

On a YoY basis, net fee income from financial services increased S/ 7.2 million YoY, or 17.0%, due to higher fees from funds management.

**OTHER INCOME**

**Other income**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| S/ million | **2Q24** | **1Q25** | **2Q25** | **%chg<br>QoQ** | **%chg<br>YoY** |
| Net gain on sale of financial investments | (2.1) | (2.3) | 0.6 | n.m. | n.m. |
| Net trading gain (loss) | (9.0) | 29.3 | 113.2 | n.m. | n.m. |
| Other | (1.1) | (4.6) | (2.2) | (53.4)% | n.m. |
| **Total other income** | **(12.1)** | **22.3** | **111.7** | **n.m.** | **n.m.** |

---

Other income reached S/ 111.7 million in 2Q25, an increase of S/ 89.4 million QoQ, due to positive mark-to-market valuations on proprietary portfolio investments.

Other income reached S/ 111.7 million in 2Q25, an increase of S/ 123.8 million YoY, due to positive mark-to-market valuations on proprietary portfolio investments.

------

**OTHER EXPENSES**

**Other expenses**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| S/ million | **2Q24** | **1Q25** | **2Q25** | **%chg<br>QoQ** | **%chg<br>YoY** |
| Salaries and employee benefits | (23.8) | (24.5) | (31.0) | 26.5% | 30.3% |
| Administrative expenses | (11.9) | (12.0) | (12.9) | 8.0% | 8.3% |
| Depreciation and amortization | (2.2) | (2.1) | (2.0) | (2.9)% | (10.5)% |
| Other | (0.4) | (0.7) | (1.5) | n.m. | n.m. |
| **Total other expenses** | **(38.4)** | **(39.2)** | **(47.4)** | **21.0%** | **23.4%** |
| **Efficiency ratio** | **81.1%** | **45.4%** | **25.6%** |  |  |

---

Other expenses reached S/ 47.4 million in 2Q25, an increase of S/ 8.2 million or 21.0% QoQ, mainly due to salaries and employee benefits.

Other expenses reached S/ 47.4 million in 2Q25, an increase of S/ 9.0 million or 23.4% YoY, mainly due to salaries and employee benefits.

**STRATEGY**

We aim to become a leading digital platform with profitable growth. IFS has demonstrated solid recovery, with a net income 3.2 times larger than the same period last year, achieving an ROE of 20.7% in the 2Q25.

We strive to build primary banking relationships by placing the customer at the center of our decisions and offering the best digital experience. As a result, NPS for retail banking stands at 54, and our retail digital clients are more than 80%.

We continue to focus on our key businesses, maintaining a significant market share in consumer banking loans around 20%, ranking second in the market. Retail deposits are around 15%, ranking third in the market, and commercial banking holds approximately an 11% market share, growing its relevance in the market. In annuities, we are the leader with over a 30% market share. Finally, in wealth management, AUMs continue to grow at double-digit rates, reaching 14% YoY and surpassing previous highs.

We continue to strengthen our position as a digital bank. In the first half of 2025, our banking customer base grew 5.2% YoY. Our digital transformation strategy continues to show positive momentum, with the share of retail digital customers increasing YOY from 80% to 83% . Digital self-service usage among retail clients remained stable QoQ but improved to 78% in the last year. Additionally, retail digital sales rose to 71% of retail sales.

We continue to see strong performance in our payment's ecosystem with Plin and Izipay. Plin active users grew 13% YoY, while Plin transactions rose by 1.5x YoY. Izipay also continued to expand, with transaction volumes increasing 12% YoY and IzipayYa volumes growing 1.7x. Despite a slight decline QoQ, synergies between Izipay and Interbank improved compared to the previous year, reinforcing our integrated payments strategy. As a result, cash flows directed to Interbank accounts through Izipay increased by 15%; as well as an increase of more than 40% in the floats of merchants and more than 50% in the float from micro merchants.

------

**STRATEGIC KPIS**

**Banking & Payments KPIs**

---

| | | | |
|:---|:---|:---|:---|
|  | 2Q24 | 1Q25 | 2Q25 |
| **Digital Metrics** |  |  |  |
| &nbsp;&nbsp;% Digital customers retail | 80 | 82 | 83 |
| &nbsp;&nbsp;% Digital customers commercial | 71 | 72 | 74 |
| &nbsp;&nbsp;% Digital self-service retail | 77 | 78 | 78 |
| &nbsp;&nbsp;% Digital sales retail | 68 | 70 | 71 |
| &nbsp;&nbsp;NPS Retail (points) | 61 | 58 | 54 |
| **Transactional Metrics** |  |  |  |
| &nbsp;&nbsp;IBK Plin transactions (millions) (\*) | 105 | 141 | 162 |
| &nbsp;&nbsp;Izipay Transaction volume (S/ MM) | 15371 | 17113 | 17259 |
| &nbsp;&nbsp;IBK share of Izipay transaction flows (%) | 38 | 40 | 39 |
| (\*) Sent transactions |  |  |  |

---

**Banking & Payments**

We continue to strengthen our position as a digital bank. In the first half of 2025, our banking customer base grew 5.2% YoY. Our digital transformation strategy continues to show positive momentum, with the share of retail digital customers increasing YoY from 80% to 83% . Digital self-service usage among retail clients remained stable QoQ but improved to 78% in the last year. Additionally, retail digital sales rose to 71% of retail sales.

We continue to see strong performance in our payment's ecosystem with Plin and Izipay. Plin active users grew 13% YoY, while Plin transactions rose by 1.5x YoY. Izipay also continued to expand, with transaction volumes increasing 12% YoY and IzipayYa volumes growing 1.7x. Despite a slight decline QoQ, synergies between Izipay and Interbank improved compared to the previous year, reinforcing our integrated payments strategy. As a result, cash flows directed to Interbank accounts through Izipay increased by 15%; as well as an increase of more than 40% in the floats of merchants and more than 50% in the float from micro merchants.

**Insurance & Wealth Management KPIs**

---

| | | | |
|:---|:---|:---|:---|
|  | **2Q24** | **1Q25** | **2Q25** |
| **Insurance** |  |  |  |
| &nbsp;&nbsp;Digital insurance premiums (S/ thousands) | 21.2 | 28.1 | 28.0 |
| &nbsp;&nbsp;% Digital Self-Service | 65.8 | 68.6 | 68.8 |
| **Wealth Management** |  |  |  |
| &nbsp;&nbsp;% Interfondos digital transactions | 50.2 | 53.6 | 54.3 |
| &nbsp;&nbsp;% Interfondos digital users | 22.7 | 27.7 | 28.8 |
| &nbsp;&nbsp;% Digital transactions SAB | 30.2 | 34.1 | 35.6 |

---

**Insurance**

In the insurance segment, digital adoption continued to accelerate in 2Q25. The share of digital self-service reached 68.8%, up from 65.8% in 2Q24 and 68.6% in 1Q25, reflecting stronger engagement with online channels.

As a result of this growing digital penetration, digital insurance premiums rose to S/ 28.0 millions in 2Q25, continuing the positive trajectory observed in prior periods. This performance highlights the company's ongoing efforts to enhance customer experience and streamline product distribution through digital platforms.

**Wealth Management**

In the wealth management segment, digital engagement continued to strengthen during 2Q25. Interfondos' digital users accounted for 28.8% of total users, up from 22.7% in 2Q24. This reflects sustained momentum in client adoption of digital investment tools and advisory services.

Digital transaction penetration also improved across key platforms. In InteligoSAB (brokerage) channel, the share of digital

------

transactions increased to 35.6%, up from 30.2% in 2Q24 and 34.1% in 1Q25.

Similarly, digital transactions in Interfondos(IF) reached 54.3%, continuing their upward trend from 50.2% and 53.6% in prior periods. These results underscore the growing preference among clients for seamless and fully digital investment experiences.

------

**Intercorp Financial Services Inc. and Subsidiaries** 

Interim consolidated financial statements as of June 30, 2025, December 31, 2024 and for the six-month period ended June 30, 2025 and 2024

------

**Intercorp Finalncial Services Inc. and Subsidiaries** 

Interim consolidated financial statements as of June 30, 2025, December 31, 2024 and for the six-month period ended June 30, 2025 and 2024

**Content** 

**Interim consolidated financial statements** 

---

| | |
|:---|:---|
| [<u>Interim consolidated statement of financial position</u>](#cons_statement_financial_position) | &nbsp;&nbsp;3 |
| [<u>Interim consolidated statement of income</u>](#cons_statement_income) | &nbsp;&nbsp;4 |
| [<u>Interim consolidated statement of other comprehensive income</u>](#cons_statement_other_comp) | &nbsp;&nbsp;5 |
| [<u>Interim consolidated statement of changes in equity</u>](#cons_statement_changes_equity) | &nbsp;&nbsp;6 |
| [<u>Interim consolidated statement of cash flows</u>](#cons_statement_cash_flows) | &nbsp;&nbsp;7 |
| [<u>Notes to the interim consolidated financial statements</u>](#notes_cons_financial_statements) | &nbsp;&nbsp;9 |

---

------

Intercorp Financial Services Inc. and Subsidiaries

Interim consolidated statement of financial position

As of June 30, 2025 and December 31, 2024

---

| | | | |
|:---|:---|:---|:---|
|  | **Note** | **30.06.2025** | **31.12.2024** |
|  |  | S/(000) | S/(000) |
| **Assets** |  |  |  |
| Cash and due from banks | 4(a) |  |  |
| Non-interest bearing |  | 3152873 | 4021880 |
| Interest bearing |  | 9034631 | 7973580 |
| Restricted funds |  | 933759 | 619766 |
|  |  | 13121263 | 12615226 |
| Inter-bank funds | 4(e) | 53136 | 220060 |
| Financial investments | 5 | 27747435 | 26857925 |
| Loans, net: | 6 |  |  |
| Loans, net of unearned interest |  | 52127180 | 50959615 |
| Impairment allowance for loans |  | (1712096) | (1730167) |
|  |  | 50415084 | 49229448 |
| Investment property | 7 | 1443701 | 1381788 |
| Property, furniture and equipment, net |  | 894847 | 814432 |
| Due from customers on acceptances |  | 4967 | 9163 |
| Intangibles and goodwill, net |  | 1620886 | 1667753 |
| Other accounts receivable and other assets, net | 8 | 2212836 | 2670178 |
| Reinsurance contract assets | 12 | 56071 | 18602 |
| Deferred Income Tax asset, net |  | 22104 | 19206 |
| **Total assets** |  | 97592330 | 95503781 |
| **Liabilities and equity** |  |  |  |
| Deposits and obligations | 9 |  |  |
| Non-interest bearing |  | 7332388 | 7614593 |
| Interest bearing |  | 47422815 | 46153435 |
|  |  | 54755203 | 53768028 |
| Inter-bank funds | 4(e) | 257333 |  |
| Due to banks and correspondents | 10 | 7335104 | 7562057 |
| Bonds, notes and other obligations | 11 | 6992675 | 6075433 |
| Due from customers on acceptances |  | 4967 | 9163 |
| Insurance and reinsurance contract liabilities | 12 | 12522638 | 12524320 |
| Other accounts payable, provisions and other liabilities | 8 | 4101954 | 4445532 |
| Deferred Income Tax liability, net |  | 130856 | 140653 |
| **Total liabilities** |  | 86100730 | 84525186 |
| **Equity, net** | 13 |  |  |
| Equity attributable to IFS's shareholders: |  |  |  |
| Capital stock |  | 1038017 | 1038017 |
| Treasury stock |  | (405715) | (206997) |
| Capital surplus |  | 532771 | 532771 |
| Reserves |  | 9100000 | 8300000 |
| Unrealized results, net |  | (106500) | (187830) |
| Retained earnings |  | 1266361 | 1439274 |
|  |  | 11424934 | 10915235 |
| Non-controlling interest |  | 66666 | 63360 |
| **Total equity, net** |  | 11491600 | 10978595 |
| **Total liabilities and equity, net** |  | 97592330 | 95503781 |

---

The accompanying notes are an integral part of these consolidated financial statements.

------

Intercorp Financial Services Inc. and Subsidiaries

Interim consolidated statement of income

For the six-month period ended June 30, 2025 and 2024

---

| | | | |
|:---|:---|:---|:---|
|  | **Note** | **30.06.2025** | **30.06.2024** |
|  |  | S/(000) | S/(000) |
| Interest and similar income | 15 | 3444778 | 3537309 |
| Interest and similar expenses | 15 | (1149338) | (1290322) |
| **Net interest and similar income** |  | **2295440** | **2246987** |
| Impairment loss on loans, net of recoveries | 6(d.1) and (d.2) | (651278) | (1023253) |
| Loss due to impairment of financial investments | 5(c) and 5(d) | (59748) | (33937) |
| **Net interest and similar income after impairment loss** |  | **1584414** | **1189797** |
| Fee income from financial services, net | 16 | 595389 | 547964 |
| Net gain on foreign exchange transactions |  | 167500 | 194313 |
| Net gain (loss) on sale of financial investments |  | 34926 | (829) |
| Net gain (loss) on financial assets at fair value through profit or loss | 5(e) and 10(b) | 312188 | (3104) |
| Net gain on investment property | 7(b) | 66222 | 84081 |
| Other income | 17 | 67987 | 49513 |
|  |  | **1244212** | **871938** |
| **Result from insurance activities** | 18 | (45484) | (101491) |
|  |  | (45484) | (101491) |
| **Other expenses** |  |  |  |
| Salaries and employee benefits |  | (541095) | (450411) |
| Administrative expenses |  | (695090) | (663091) |
| Depreciation and amortization |  | (212666) | (208205) |
| Other expenses | 17 | (78624) | (87624) |
|  |  | **(1527475)** | **(1409331)** |
| **Income before translation result and Income Tax** |  | 1255667 | 550913 |
| Exchange difference |  | 24016 | (30617) |
| Income Tax | 14(e) | (253977) | (92971) |
| **Net profit for the period** |  | **1025706** | **427325** |
| **Attributable to:** |  |  |  |
| IFS's shareholders |  | 1020752 | 424667 |
| Non-controlling interest |  | 4954 | 2658 |
|  |  | **1025706** | **427325** |
| **Earnings per share attributable to IFS's shareholders, basic and diluted (in Soles)** | 19 | 9.058 | 3.710 |
| **Weighted average number of outstanding shares (in thousands)** | 19 | 112696 | 114480 |

---

The accompanying notes are an integral part of these consolidated financial statements.

------

Intercorp Financial Services Inc. and Subsidiaries

Interim consolidated statement of other comprehensive income

For the six-month period ended June 30, 2025 and 2024

---

| | | |
|:---|:---|:---|
|  | **30.06.2025** | **30.06.2024** |
|  | S/(000) | S/(000) |
| **Net profit for the period** | 1025706 | 427325 |
| **Other comprehensive income that will not be reclassified to the consolidated statement of income in subsequent periods:** |  |  |
| Loss on valuation of equity instruments at fair value through other comprehensive income | (11893) | (2885) |
| Income Tax | 9055 | (1601) |
| **Total unrealized gain that will not be reclassified to the consolidated statement of income in subsequent periods** | (2838) | (4486) |
| **Other comprehensive income to be reclassified to the consolidated statement of income in subsequent periods:** |  |  |
| Net movement of debt instruments at fair value through other comprehensive income | 232772 | (181776) |
| Income Tax | (2674) | (1529) |
|  | 230098 | (183305) |
| Insurance reserves at fair value | (103376) | 393280 |
| Net movement of cash flow hedges | 33180 | (35401) |
| Income Tax | (4525) | 5528 |
|  | 28655 | (29873) |
| Translation of foreign operations | (55304) | 25858 |
| **Total unrealized gain to be reclassified to the consolidated statement of income in subsequent periods** | **100073** | **205960** |
| **Other comprehensive income for the period** | **97235** | **201474** |
| **Total comprehensive income for the period, net of Income Tax** | **1122941** | **628799** |
| **Attributable to:** |  |  |
| IFS's shareholders | 1116538 | 625509 |
| Non-controlling interest | 6403 | 3290 |
|  | **1122941** | **628799** |

---

The accompanying notes are an integral part of these consolidated financial statements.

------

Intercorp Financial Services Inc. and Subsidiaries

Interim consolidated statement of changes in equity

For the six-month period ended June 30, 2025 and 2024

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  |  |  |  |  | **Attributable to IFS's shareholders** | **Attributable to IFS's shareholders** | **Attributable to IFS's shareholders** | **Attributable to IFS's shareholders** | **Attributable to IFS's shareholders** | **Attributable to IFS's shareholders** |  |  |  |  |
|  |  |  |  |  |  |  |  | **Unrealized results, net** | **Unrealized results, net** | **Unrealized results, net** | **Unrealized results, net** |  |  |  |  |
|  | **Number of shares** | **Number of shares** |  |  |  |  | **Instruments that will not be reclassified to the consolidated statement of income** | **Instruments that will be reclassified to the consolidated statement of income** | **Instruments that will be reclassified to the consolidated statement of income** | **Instruments that will be reclassified to the consolidated statement of income** | **Instruments that will be reclassified to the consolidated statement of income** |  |  |  |  |
|  | **Issued** | **In treasury** | **Capital stock** | **Treasury stock** | **Capital surplus** | **Reserves** | **Equity instruments at fair value** | **Debt instruments at fair value** | **Insurance contracts reserves** | **Cash flow hedges reserve** | **Translation of foreign operations** | **Retained earnings** | **Total** | **Non-controlling interest** | **Total equity, net** |
|  | (in thousands) | (in thousands) | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) |
| **Balance as of January 1, 2024** | 115447 | (967) | 1038017 | (84309) | 532771 | 6000000 | (64141) | (1293563) | 742894 | (31933) | 188950 | 2921531 | 9950217 | 57884 | 10008101 |
| Net profit for the period |  |  |  |  |  |  |  |  |  |  |  | 424667 | 424667 | 2658 | 427325 |
| Other comprehensive income |  |  |  |  |  |  | (4509) | (183360) | 392634 | (29781) | 25858 |  | 200842 | 632 | 201474 |
| Total comprehensive income |  |  |  |  |  |  | (4509) | (183360) | 392634 | (29781) | 25858 | 424667 | 625509 | 3290 | 628799 |
| Declared dividends and paid, Note 13(a) |  |  |  |  |  |  |  |  |  |  |  | (427369) | (427369) |  | (427369) |
| Purchase of treasury stock, Note 13(b) |  | (2) |  | (169) |  |  |  |  |  |  |  |  | (169) |  | (169) |
| Dividends paid to non-controlling interest of Subsidiaries |  |  |  |  |  |  |  |  |  |  |  |  |  | (3067) | (3067) |
| Sale of equity instruments at fair value through other comprehensive income |  |  |  |  |  |  | (18435) |  |  |  |  | 18435 |  |  |  |
| Others |  |  |  |  |  |  |  |  |  |  |  | (614) | (614) | (203) | (817) |
| **Balance as of June 30, 2024** | 115447 | (969) | 1038017 | (84478) | 532771 | 6000000 | (87085) | (1476923) | 1135528 | (61714) | 214808 | 2936650 | 10147574 | 57904 | 10205478 |
| **Balance as of January 1, 2025** | 115447 | (2159) | 1038017 | (206997) | 532771 | 8300000 | (9141) | (1011868) | 681595 | (49113) | 200697 | 1439274 | 10915235 | 63360 | 10978595 |
| Net profit for the period |  |  |  |  |  |  |  |  |  |  |  | 1020752 | 1020752 | 4954 | 1025706 |
| Other comprehensive income |  |  |  |  |  |  | (3259) | 228993 | (103224) | 28580 | (55304) |  | 95786 | 1449 | 97235 |
| Total comprehensive income |  |  |  |  |  |  | (3259) | 228993 | (103224) | 28580 | (55304) | 1020752 | 1116538 | 6403 | 1122941 |
| Declared dividends, Note 13(a) |  |  |  |  |  |  |  |  |  |  |  | (420096) | (420096) |  | (420096) |
| Transfer of retained earnings to reserves, Note 13(d) |  |  |  |  |  | 800000 |  |  |  |  |  | (800000) |  |  |  |
| Purchase of treasury stock, Note 13(b) |  | (1727) |  | (198718) |  |  |  |  |  |  |  |  | (198718) |  | (198718) |
| Dividends paid to non-controlling interest of Subsidiaries |  |  |  |  |  |  |  |  |  |  |  |  |  | (3097) | (3097) |
| Sale of equity instruments at fair value through other comprehensive income |  |  |  |  |  |  | (14456) |  |  |  |  | 14456 |  |  |  |
| Others |  |  |  |  |  |  |  |  |  |  |  | 11975 | 11975 |  | 11975 |
| **Balance as of June 30, 2025** | 115447 | (3886) | 1038017 | (405715) | 532771 | 9100000 | (26856) | (782875) | 578371 | (20533) | 145393 | 1266361 | 11424934 | 66666 | 11491600 |

---

The accompanying notes are an integral part of these consolidated financial statements.

------

Intercorp Financial Services Inc. and Subsidiaries

Interim consolidated statement of cash flows

For the six-month periods ended June 30, 2025 and 2024

---

| | | |
|:---|:---|:---|
|  | **30.06.2025** | **30.06.2024** |
|  | S/(000) | S/(000) |
| **Cash flows from operating activities** |  |  |
| Net profit for the period | 1025706 | 427325 |
| **Plus (minus) adjustments to net profit** |  |  |
| Impairment loss on loans, net of recoveries | 651278 | 1023253 |
| Loss due to impairment of financial investments | 59748 | 33937 |
| Depreciation and amortization | 212666 | 208205 |
| Provision for sundry risks | 3937 | 9773 |
| Deffered Income Tax | (21528) | 79849 |
| Net (gain) loss on sale of financial investments | (34926) | 829 |
| Net (gain) loss on financial assets at fair value through profit or loss | (312188) | 3104 |
| Net gain on valuation of investment property | (28114) | (52188) |
| Net (gain) loss on sale of investment property | (320) | 3176 |
| Exchange difference | (24016) | 30617 |
| Decrease in accrued interest receivable | 43319 | 34896 |
| (Decrease) increase in accrued interest payable | (115931) | 120095 |
| **Net changes in assets and liabilities** |  |  |
| Net increase in loan portfolio | (1844436) | (2611009) |
| Net decrease (increase) in other accounts receivable and other assets | 256164 | (384543) |
| Net (increase) decrease in restricted funds | (313993) | 249268 |
| Increase in deposits and obligations | 1038147 | 2230966 |
| Decrease in due to banks and correspondents | (168258) | (457007) |
| (Decrease) increase in other accounts payable, provisions and other liabilities | (322060) | 877842 |
| Decrease (increase) of investments at fair value through profit or loss | 64369 | (74968) |
| **Net cash provided by operating activities** | 169564 | 1753420 |

---

The accompanying notes are an integral part of these consolidated financial statements.

------

Interim consolidated statements of cash flows (continued)

---

| | | |
|:---|:---|:---|
|  | **30.06.2025** | **30.06.2024** |
|  | S/(000) | S/(000) |
| **Cash flows from investing activities** |  |  |
| Purchase of investments at fair value through other comprehensive income and at amortized cost | (753484) | (1159448) |
| Purchase of property, furniture and equipment | (130592) | (58294) |
| Purchase of intangible assets | (81095) | (91729) |
| Purchase of investment property | (38799) | (39279) |
| Sale of investment property |  | 39176 |
| **Net cash used in investing activities** | (1003970) | (1309574) |
| **Cash flows from financing activities** |  |  |
| Dividends paid | (420096) | (427369) |
| Issuance of securities, bonds and obligations in circulation | 1350037 | 1114800 |
| Payments of bonds, notes and other obligations |  | (1149069) |
| Decrease in receivable inter-bank funds | 166924 | 424868 |
| Increase in payable inter-bank funds | 257333 | 446569 |
| Purchase of treasury stock, net | (198718) | (169) |
| Dividend payments to non-controlling interest | (3097) | (3067) |
| Lease payments | (40808) | (42545) |
| **Net cash used in financing activities** | 1111575 | 364018 |
| **Net increase in cash and cash equivalents** | 277169 | 807864 |
| Translation loss on cash and cash equivalents | (81533) | (53051) |
| Cash and cash equivalents at the beginning of the period | 11977366 | 9074211 |
| **Cash and cash equivalents at the end of the period** | 12173002 | 9829024 |

---

The accompanying notes are an integral part of these consolidated financial statements.

------

Notes to the interim consolidated financial statements

As of June 30, 2025 and December 31, 2024

**1. Business activity**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Business activity -

Intercorp Financial Services Inc. and Subsidiaries (henceforth "IFS", "the Company" or "the Group"), is a limited liability holding company incorporated in the Republic of Panama on September 19, 2006, and is a Subsidiary of Intercorp Peru Ltd. (henceforth "Intercorp Peru"), holding of Intercorp Group, incorporated in 1997 in the Commonwealth of the Bahamas. As of June 30, 2025, Intercorp Peru holds directly and indirectly 73.97 percent of the issued capital stock of IFS, equivalent to 73.06 percent of the outstanding capital stock of IFS (72.47 percent of the issued capital stock, equivalent to 71.95 percent of the outstanding capital stock as of December 31, 2024).

IFS's legal domicile is located at Av. Carlos Villarán 140 Urb. Santa Catalina, La Victoria, Lima, Peru.

As of June 30, 2025 and December 31, 2024, IFS holds 99.31 percent of the capital stock of Banco Internacional del Peru S.A.A. – Interbank (henceforth "Interbank"), 99.85 percent of the capital stock of Interseguro Compañía de Seguros S.A. (henceforth "Interseguro"), 100 percent of the capital stock of Inteligo Group Corp. (henceforth "Inteligo") and 100 percent of Procesos de Medios de Pago and its subsidiary Izipay S.A.C (henceforth and together "Izipay"), acquired in April 2022.

The operations of Interbank, Interseguro and Izipay are concentrated in Peru, while the operations of Inteligo and its Subsidiaries (Interfondos S.A. Sociedad Administradora de Fondos, Inteligo Sociedad Agente de Bolsa S.A. and Inteligo Bank Ltd.) are mainly concentrated in Peru and Panama.

The main activities of IFS's Subsidiaries and their assets, liabilities, equity, operating income, net income, balances and other relevant information are presented in Note 2.

The interim consolidated financial statements as of June 30, 2025, have been approved by the Audit Committee and Board's Meeting held on August 7 and 11, 2025, respectively. The audited consolidated financial statements as of December 31, 2024, were approved by the General Shareholders' Meeting held on March 31, 2025.

**2. Subsidiaries** 

IFS's Subsidiaries are the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(a) Banco Internacional del Peru S.A.A. - Interbank and Subsidiaries -**

Interbank is incorporated in Peru and is authorized by the Superintendencia de Banca, Seguros y AFP (henceforth "SBS") to operate as a universal bank in accordance with Peruvian law. The Interbank's operations are governed by the General Act of the Banking and Insurance System and Organic Act of the SBS – Act No. 26702 and its amendments (henceforth "the Banking and Insurance Act"), that establishes the requirements, rights, obligations, restrictions and other operating conditions that financial and insurance entities must comply with in Peru.

As of June 30, 2025, Interbank has 148 offices (149 offices as of December 31, 2024).

Additionally, it holds approximately 100 percent of the shares of the following Subsidiaries:

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Entity** | &nbsp;&nbsp;&nbsp;&nbsp;**Activity** |
| &nbsp;&nbsp;&nbsp;&nbsp;Internacional de Títulos Sociedad Titulizadora S.A. - Intertítulos S.T. | &nbsp;&nbsp;&nbsp;&nbsp;Manages securitization funds. |
| &nbsp;&nbsp;&nbsp;&nbsp;Compañía de Servicios Conexos Expressnet S.A.C. | &nbsp;&nbsp;&nbsp;&nbsp;Services related to credit card transactions or products related to the brand "American Express". |

---

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(b) Interseguro Compañía de Seguros S.A. and Subsidiary -**

Interseguro is incorporated in Peru and its operations are governed by the Banking and Insurance Act. It is authorized by the SBS to issue life and general risk insurance contracts.

Interseguro holds participations in Patrimonio Fideicometido D.S.093-2002-EF, Interproperties Peru (henceforth "Patrimonio Fideicometido – Interproperties Peru"), that is a structured entity, incorporated in April 2008, and in which several investors (related parties to the Group) contributed investment properties. Each investor or investors have ownership of and specific control over the contributed investment property. The fair values of the properties contributed by Interseguro that were included in this structured entity as of June 30, 2025 and December 31, 2024, amounted to S/91,078,000 and S/89,124,000, respectively; see Note 7. IFS has ownership and decision-making power over these properties and the Group has the exposure or rights to their returns; therefore, IFS consolidates the silos containing the investment properties that it controls.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(c) Inteligo Group Corp. and Subsidiaries -**

Inteligo is incorporated in the Republic of Panama. As of June 30, 2025 and December 31, 2024,owns mainly the following Subsidiaries:

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**Entity** | &nbsp;&nbsp;&nbsp;&nbsp;**Activity** |
| &nbsp;&nbsp;&nbsp;&nbsp;Inteligo Bank Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;It is incorporated in The Commonwealth of the Bahamas and has a branch established in the Republic of Panama that operates under an international license issued by the Superintendence of Banks of the Republic of Panama. Its main activity is to provide private and institutional banking services, mainly to Peruvian citizens. |
| &nbsp;&nbsp;&nbsp;&nbsp;Inteligo Sociedad Agente de Bolsa S.A. | &nbsp;&nbsp;&nbsp;&nbsp;Brokerage firm incorporated in Peru. |
| &nbsp;&nbsp;&nbsp;&nbsp;Inteligo Peru Holding S.A.C. | &nbsp;&nbsp;&nbsp;&nbsp;Financial holding company incorporated in Peru in December 2018. As of June 30, 2025 and December 31, 2024, it holds 99.99 percent interest in Interfondos S.A. Sociedad Administradora de Fondos, company that manages mutual funds and investment funds. |
| &nbsp;&nbsp;&nbsp;&nbsp;Inteligo USA, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;Incorporated in the United States of America in January 2019, provides investment consultancy and related services. |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(d) Negocios e Inmuebles S.A. -**

Negocios e Inmuebles is incorporated in Peru, was acquired by IFS as part of the purchase of Seguros Sura and Hipotecaria Sura in year 2017. As of June 30, 2025 and December 31, 2024, Negocios e Inmuebles S.A., holds 8.50 percent of Interseguro's capital stock .

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(e) San Borja Global Opportunities S.A.C. -**

San Borja Global Opportunities is incorporated in Peru. Its corporate purpose is the marketing of products and services through Internet, telephony or related and it operates under the commercial name of Shopstar (online Marketplace) dedicated to the sale of products from different stores locally.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(f) Procesos de Medios de Pago S.A. and subsidiary Izipay S.A.C. (Izipay) –**

Procesos de Medios de Pago is dedicated to the development, management and operation of the shared service of transaction processing of credit and debit cards, through the acquirer role for the brands MasterCard, Visa and other private brands; also, it renders the processing service, through the issuer role, to entities of the financial system. Izipay is dedicated to the facilitation of payments and services, offering its services of technological, operating and safety infrastructure through the affiliation of commercial stores, as well as installation and maintenance of infrastructure for transactions through the electronic commerce modality, interconnected with the networks of payment methods processors. Until March 2022, Interbank maintained 50 percent of both companies incorporated in Peru and in April 2022, IFS acquired the remaining 50 percent, acquiring control of Izipay. Since this time, Izipay consolidates its financial information together with IFS.

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**3. Significant accounting policies**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1 Basis of presentation and use of estimates –

The interim consolidated financial statements as of June 30, 2025 and December 31, 2024, have been prepared in accordance with IAS 34 "Interim Financial Reporting".

The interim consolidated financial statements do not include all the information and disclosures required in the annual consolidated financial statements and should be read in conjunction with the IFS's Audited Consolidated Financial Statements as of December 31, 2024 and 2023 (henceforth "Annual Consolidated Financial Statements").

The accompanying interim consolidated financial statements have been prepared on the historical cost basis, except for investment property, derivative financial instruments, financial investments at fair value through profit or loss and through other comprehensive income, which have been measured at fair value. The interim consolidated financial statements are presented in Soles, which is the functional currency of the Group, and all values are rounded to the nearest thousand (S/(000)), except when otherwise indicated.

The preparation of the interim consolidated financial statements, in accordance with the International Financial Reporting Standards (henceforth "IFRS") as issued by the International Accounting Standards Board (IASB), requires Management to make estimations and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and the disclosure of significant events in the notes to the interim consolidated financial statements.

In that sense, the estimates and criteria are continually assessed and are based on historical experience, as well as other factors, including expectations of future events that are believed to be reasonable under the current circumstances. Existing circumstances and assumptions about future developments, however, may change due to markets' behavior or circumstances arising beyond the control of the Group. Such changes are reflected in the assumptions when they occur. Actual results could differ from those estimates. The most significant estimates comprised in the accompanying interim consolidated financial statements are related to the calculation of the impairment of the portfolio of loan and financial investments, the measurement of the fair value of the financial investments and investment property, the assessment of the impairment of goodwill and the intangible of indefinite life, the liabilities for insurance contracts and measurement of the fair value of derivative financial instruments; also, there are other estimates such as provisions for litigation, the estimated useful life of intangible assets and property, furniture and equipment, the estimation of deferred Income Tax and the determination of the terms and estimation of the interest rate of the lease contracts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2 Basis of consolidation –

The interim consolidated financial statements of IFS comprise the financial statements of Intercorp Financial Services Inc. and Subsidiaries. The method adopted by IFS to consolidate its financial information with its Subsidiaries is described in Note 3.3 to the Annual Consolidated Financial Statements and has not changed since then.

**4. Cash and due from banks and inter-bank funds** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The detail of cash and due from banks is as follows:

---

| | | |
|:---|:---|:---|
|  | **30.06.2025** | **31.12.2024** |
|  | S/(000) | S/(000) |
| Cash and clearing (b) | 2076912 | 2853187 |
| Deposits in the BCRP (b) | 7827976 | 7333818 |
| Deposits in banks (c) | 2268114 | 1790361 |
| Total cash and cash equivalent | 12173002 | 11977366 |
| Accrued interest | 14502 | 18094 |
| Restricted funds (d) | 933759 | 619766 |
| **Total** | 13121263 | 12615226 |

---

------

The balance of cash and cash equivalents presented in the interim consolidated statements of cash flows exclude the restricted funds and accrued interest.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) In accordance with rules in force, Interbank is required to maintain a legal reserve to honor its obligations with the public. This reserve is comprised of funds kept in Interbank and in the BCRP and is made up as follows:

---

| | | |
|:---|:---|:---|
|  | **30.06.2025** | **31.12.2024** |
|  | S/(000) | S/(000) |
| **Legal reserve (\*)** |  |  |
| Deposits in the BCRP | 5348576 | 5969218 |
| Cash in vaults | 2053363 | 2644386 |
| Subtotal legal reserve | 7401939 | 8613604 |
| **Non-mandatory reserve** |  |  |
| Overnight deposits in BCRP (\*\*) | 2479400 | 564600 |
| Cash and clearing | 23494 | 208548 |
| Term deposits in BCRP (\*\*\*) |  | 800000 |
| Subtotal non-mandatory reserve | 2502894 | 1573148 |
| Cash balances not subject to legal reserve | 55 | 253 |
| **Total** | 9904888 | 10187005 |

---

(\*) The legal reserve funds maintained in the BCRP are non-interest bearing, except for the part that exceeds the minimum reserve required that accrued interest at a nominal annual rate, established by the BCRP. As of June 30, 2025 and December 31, 2024, the Group presented only excess in foreign currency that accrued interest in US Dollars at an annual average rate of 3.82 and 3.90 percent, respectively.

In Group Management's opinion, Interbank has complied with the requirements established by the rules in force related to the computation of the legal reserve.

(\*\*) As of June 30, 2025, corresponds to an overnight deposit in foreign currency for US$700,000,000 (approximately equivalent to S/2,479,000,000), with maturity in the first days of July 2025, and accrued interest at an annual interest rate of 4.36 percent (as of December 31, 2024, corresponded to an overnight deposit in foreign currency for US$150,000,000 (approximately equivalent to S/564,600,000), with maturity in the first days of January 2025, and accrued interest at an annual interest rate of 4.44 percent).

(\*\*\*) As of December 31, 2024, corresponded to overnight deposits in local currency, with maturity in the first days of January 2025, and accrued interest at an annual interest rate of 4.83 percent).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Deposits in domestic banks and abroad are mainly in Soles and US Dollars, they are freely available and accrue interest at market rates.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The Group maintains restricted funds related to:

---

| | | |
|:---|:---|:---|
|  | **30.06.2025** | **31.12.2024** |
|  | S/(000) | S/(000) |
| Repurchase agreements with the BCRP (\*) | 630600 |  |
| Inter-bank transfers (\*\*) | 279317 | 596648 |
| Derivative financial instruments, Note 8(b) | 21925 | 21568 |
| Others | 1917 | 1550 |
| **Total** | 933759 | 619766 |

---

(\*) As of June 30, 2025, corresponds to deposits in the BCRP that guarantee loans with said entity, see Note 10(b).

(\*\*) Funds held at BCRP to guarantee transfers made through the Electronic Clearing House ("CCE", by its Spanish acronym).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Inter-bank funds -

These are loans made between financial institutions with maturity, in general, minor than 30 days. As of June 30, 2025, Inter-bank funds' assets accrue interest at an annual rate of 4.50 percent in foreign currency (as of December 31, 2024, Inter-bank funds' assets accrue interest at an annual rate of 5.00 percent in local currency); and do not have specific

------

guarantees. As of June 30, 2025, Inter-bank funds liabilities accrue interest at an annual rate of 4.71 percent in local currency.

**5. Financial investments** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) This caption is made up as follows:

---

| | | |
|:---|:---|:---|
|  | **30.06.2025** | **31.12.2024** |
|  | S/(000) | S/(000) |
| Debt instruments measured at fair value through other comprehensive income (b) and (c) | 20963121 | 20377805 |
| Investments at amortized cost (d) | 3879802 | 3784912 |
| Investments at fair value through profit or loss (e) | 1958727 | 1776567 |
| Equity instruments measured at fair value through other comprehensive income (f) | 512131 | 458268 |
| **Total financial investments** | 27313781 | 26397552 |
| **Accrued income** |  |  |
| Debt instruments measured at fair value through other comprehensive income (b) | 332176 | 347087 |
| Investments at amortized cost (d) | 101478 | 113286 |
| **Total** | 27747435 | 26857925 |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Following is the detail of debt instruments measured at fair value through other comprehensive income:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  | **Unrealized gross amount** | **Unrealized gross amount** |  |  | **Annual effective interest rates** | **Annual effective interest rates** | **Annual effective interest rates** | **Annual effective interest rates** |
|  | **Amortized** |  |  | **Estimated** |  | **S/** | **S/** | **US$** | **US$** |
|  | **cost** | **Gains** | **Losses (c)** | **fair value** | **Maturity** | **Min** | **Max** | **Min** | **Max** |
|  | S/(000) | S/(000) | S/(000) | S/(000) |  | **%** | **%** | **%** | **%** |
| **As of June 30, 2025** |  |  |  |  |  |  |  |  |  |
| Corporate, leasing and subordinated bonds | 9569758 | 144663 | (755946) | 8958475 | Sep-25 / Feb-97 | 2.60 | 16.07 | 4.46 | 11.00 |
| Sovereign Bonds of the Republic of Peru | 9044713 | 80988 | (328179) | 8797522 | Aug-26 / Feb-55 | 2.43 | 6.90 |  |  |
| Negotiable Certificates of Deposit issued by the Central Reserve Bank of Peru | 2092024 | 148 | (7) | 2092165 | Jul-25 / Dec-25 | 4.12 | 4.17 |  |  |
| Global Bonds of the Republic of Peru | 577583 | 416 | (13339) | 564660 | Jul-25 / Nov-50 |  |  | 4.01 | 6.02 |
| Bonds guaranteed by the Peruvian Government | 511398 | 9876 | (2538) | 518736 | Apr-28 / Oct-33 | 2.91 | 4.54 | 6.10 | 6.81 |
| Treasury Bonds of the United States of America | 19240 |  | (2576) | 16664 | Nov-31 |  |  | 3.96 | 3.96 |
| Global Bonds of the United States of Mexico | 17060 |  | (2161) | 14899 | Feb-34 |  |  | 5.87 | 5.87 |
| **Total** | 21831776 | 236091 | (1104746) | 20963121 |  |  |  |  |  |
| Accrued interest |  |  |  | 332176 |  |  |  |  |  |
| **Total** |  |  |  | 21295297 |  |  |  |  |  |
|  |  | **Unrealized gross amount** | **Unrealized gross amount** |  |  | **Annual effective interest rates** | **Annual effective interest rates** | **Annual effective interest rates** | **Annual effective interest rates** |
|  | **Amortized** |  |  | **Estimated** |  | **S/** | **S/** | **US$** | **US$** |
|  | **cost** | **Gains** | **Losses (c)** | **fair value** | **Maturity** | **Min** | **Max** | **Min** | **Max** |
|  | S/(000) | S/(000) | S/(000) | S/(000) |  | **%** | **%** | **%** | **%** |
| **As of December 31, 2024** |  |  |  |  |  |  |  |  |  |
| Corporate, leasing and subordinated bonds | 9867060 | 111866 | (805981) | 9172945 | Jan-25 / Feb-97 | 2.22 | 14.00 | 3.70 | 10.86 |
| Sovereign Bonds of the Republic of Peru | 8331426 | 24387 | (410536) | 7945277 | Aug-26 / Feb-55 | 2.81 | 7.12 | - | - |
| Negotiable Certificates of Deposit issued by the Central Reserve Bank of Peru | 2113571 | 370 | (17) | 2113924 | Jan-25 / Jun-25 | 4.51 | 4.68 | - | - |
| Bonds guaranteed by the Peruvian Government | 554359 | 6798 | (4603) | 556554 | Apr-28 / Oct-33 | 3.65 | 4.74 | 6.37 | 7.22 |
| Global Bonds of the Republic of Peru | 548697 |  | (27058) | 521639 | Jul-25 / Nov-50 | - | - | 5.00 | 6.14 |
| Treasury Bonds of the United States of America | 57607 |  | (5082) | 52525 | Nov-31 / Aug-34 | - | - | 4.46 | 4.53 |
| Global Bonds of the United States of Mexico | 18100 |  | (3159) | 14941 | Feb-34 | - | - | 6.51 | 6.51 |
| **Total** | 21490820 | 143421 | (1256436) | 20377805 |  |  |  |  |  |
| Accrued interest |  |  |  | 347087 |  |  |  |  |  |
| **Total** |  |  |  | 20724892 |  |  |  |  |  |

---

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The Group, according to the business model applied to these debt instruments, has the capacity to hold these investments for a sufficient period that allows the early recovery of the fair value, up to the maximum period for the early recovery or the due date.

Following is the movement of the provision for expected credit loss for these debt instruments, measured at fair value through other comprehensive income:

---

| | | | |
|:---|:---|:---|:---|
|  | **30.06.2025** | **31.12.2024** | **30.06.2024** |
|  | S/(000) | S/(000) | S/(000) |
| **Expected credit loss at the beginning of the period** | 95090 | 61046 | 61046 |
| New assets originated or purchased | 1053 | 1095 | 778 |
| Assets derecognized or matured (excluding write-offs) | (1515) | (3915) | (3379) |
| Effect on the expected credit loss due to the change of the stage during the year | 61278 | 8958 | 1211 |
| (Recovery) loss for impairment | (3640) | 37325 | 37420 |
| Others | 2572 | 4058 | (2093) |
| **Movement of the period** | 59748 | 47521 | 33937 |
| Write-offs | (71509) | (13043) |  |
| Effect of foreign exchange variation | (102) | (434) | (402) |
| **Expected credit loss at the end of the period** | 83227 | 95090 | 94581 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) As of June 30, 2025, investments at amortized cost corresponds mainly to Sovereign Bonds of the Republic of Peru issued in Soles for an amount of S/3,844,053,000, including accrued interest of S/96,837,000 (as of December 31, 2024, investments at amortized cost corresponds mainly to Sovereign Bonds of the Republic of Peru issued in Soles for an amount of S/3,799,540,000, including accrued interest of S/101,143,000). Said investments present low credit risk and the impairment loss is not significant.

As of June 30, 2025, these investments have maturity dates that range from August 2026 to August 2039, have accrued interest at effective annual rates between 4.36 percent and 7.76 percent, and a fair value amounting to approximately S/3,914,747,000 (As of December 31, 2024, these investments have maturity dates that range from August 2026 to August 2039, have accrued interest at effective annual rates between 4.36 percent and 7.76 percent, and a fair value amounting to approximately S/3,775,935,000).

Additionally, as of June 30, 2025, term deposits mainly issued in local currency are held, for an amount of S/137,227,000, including accrued interest amounting to S/4,641,000 (as of December 31, 2024, term deposits mainly issued in local currency are held, for an amount of S/98,658,000, including accrued interest amounting to S/12,143,000).Said investments present low credit risk and the impairment loss is not material. As of June 30, 2025, the maturity of these investments fluctuates between October 2025 and February 2039, have accrued interest at effective annual rates between 2.95 percent and 5.00 percent, and their fair value amounts to approximately S/137,227,000 (as of December 31, 2024, the maturity of these investments fluctuates between January 2025 and February 2029, have accrued interest at effective annual rates between 3.10 percent and 8.80 percent, and their fair value amounts to approximately S/98,658,000).

During the year 2024, the Government of the Republic of Peru performed public offerings to repurchase certain sovereign bonds, with the purpose of renewing its debt and funding the fiscal deficit. Considering the purpose of this offer, subsequently to it, there should not be existing remaining sovereign bonds of the repurchased issuances or, in case of existing, they would become illiquid on the market. In that sense, during the year 2024, sold S/630,749,000, generating a gain amounting to S/866,000, which was recorded in the caption "Net gain on sale of financial investments" of the interim consolidated statement of income. Additionally, with the purpose of maintaining its asset management strategy, Interbank, during the year 2024, purchased simultaneously other sovereign bonds of the Republic of Peru for approximately S/628,675,000, and classified them as investments at amortized cost. In Management's opinion and pursuant to IFRS 9, said transaction is congruent with the Group's business model because although said sales were significant, they were infrequent and were performed with the sole purpose of facilitating the renewal and the funding of the fiscal deficit of the Republic of Peru, and thus the business model regarding these assets has always been to collection of the contractual cash flows.

------

As of June 30, 2025 and December 31, 2024, Interbank holds loans with the BCRP that are guaranteed with these sovereign bonds, classified as restricted, for approximately S/2,107,752,000 and S/1,861,524,000, respectively, see Note 10(a).

As of June 30, 2025 and December 31, 2024, Interbank holds loans with foreign banks that are guaranteed with these sovereign bonds, classified as restricted, for approximately S/429,607,000 and S/435,242,000, respectively; see Note 10(a).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) The composition of financial instruments at fair value through profit or loss is as follows:

---

| | | |
|:---|:---|:---|
|  | **30.06.2025** | **31.12.2024** |
|  | S/(000) | S/(000) |
| **Equity instruments** |  |  |
| Local and foreign mutual funds and investment funds participations | 1549520 | 1396582 |
| Listed shares | 218501 | 202054 |
| Non-listed shares | 157872 | 154856 |
| **Debt instruments** |  |  |
| Global Bonds of the Republic of Peru | 17720 |  |
| Sovereign Bonds of the Republic of Peru | 8958 | 8538 |
| Sovereign Bonds issued by foreign governments | 4063 | 2430 |
| Corporate, leasing and subordinated bonds | 2093 | 2172 |
| Negotiable Certificates of Deposits issued by the BCRP |  | 9935 |
| **Total** | 1958727 | 1776567 |

---

As of June 30, 2025 and December 31, 2024, investments at fair value through profit or loss include investments held for trading for approximately S/197,004,000 and S/152,755,000, respectively; and those assets that are necessarily measured at fair value through profit or loss for approximately S/1,761,723,000 and S/1,623,812,000, respectively.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) The composition of equity instruments measured at fair value through other comprehensive income is as follows:

---

| | | |
|:---|:---|:---|
|  | **30.06.2025** | **31.12.2024** |
|  | S/(000) | S/(000) |
| Listed shares (g) | 476565 | 420474 |
| Non-listed shares | 35566 | 37794 |
| Total | 512131 | 458268 |

---

As of June 30, 2025 and December 31, 2024, it corresponds to investments in shares in the biological sciences, distribution of machinery, energy, telecommunications, financial and massive consumption sectors that are listed on the domestic and foreign markets.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) Below are the debt instruments measured at fair value through other comprehensive income and at amortized cost according to the stages indicated IFRS 9, as of June 30, 2025 and December 31, 2024:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **30.06.2025** | **30.06.2025** | **30.06.2025** | **30.06.2025** |
| **Debt instruments measured at fair value through other comprehensive income and at amortized cost** | **Stage 1** | **Stage 2** | **Stage 3** | **Total** |
|  | S/(000) | S/(000) | S/(000) | S/(000) |
| Sovereign Bonds of the Republic of Peru | 12544738 |  |  | 12544738 |
| Corporate, leasing and subordinated bonds | 8321319 | 633756 | 3400 | 8958475 |
| Negotiable Certificates of Deposit issued by the BCRP | 2092165 |  |  | 2092165 |
| Global Bonds of the Republic of Peru | 564660 |  |  | 564660 |
| Bonds guaranteed by the Peruvian government | 518736 |  |  | 518736 |
| Treasury Bonds of the United States of America | 16664 |  |  | 16664 |
| Global Bonds of the United States of Mexico | 14899 |  |  | 14899 |
| Term deposits | 132586 |  |  | 132586 |
| **Total** | 24205767 | 633756 | 3400 | 24842923 |
|  | **31.12.2024** | **31.12.2024** | **31.12.2024** | **31.12.2024** |
| **Debt instruments measured at fair value through other comprehensive income and at amortized cost** | **Stage 1** | **Stage 2** | **Stage 3** | **Total** |
|  | S/(000) | S/(000) | S/(000) | S/(000) |
| Sovereign Bonds of the Republic of Peru | 11643674 |  |  | 11643674 |
| Corporate, leasing and subordinated bonds | 8126895 | 1046050 |  | 9172945 |
| Negotiable Certificates of Deposit issued by the BCRP | 2113924 |  |  | 2113924 |
| Bonds guaranteed by the Peruvian government | 556554 |  |  | 556554 |
| Global Bonds of the Republic of Peru | 521639 |  |  | 521639 |
| Treasury Bonds of the United States of America | 52525 |  |  | 52525 |
| Global Bonds of the United States of Mexico | 14941 |  |  | 14941 |
| Term deposits | 86515 |  |  | 86515 |
| **Total** | 23116667 | 1046050 |  | 24162717 |

---

------

**6. Loans, net** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) This caption is made up as follows:

---

| | | |
|:---|:---|:---|
|  | **30.06.2025** | **31.12.2024** |
|  | S/(000) | S/(000) |
| **Direct loans (\*)** |  |  |
| Loans (\*\*) | 40201836 | 38456682 |
| Credit cards and other loans (\*\*\*) | 5414374 | 5386427 |
| Discounted notes | 1307930 | 1706886 |
| Leasing | 1599154 | 1584357 |
| Factoring | 1156784 | 1410968 |
| Advances and overdrafts | 137573 | 101848 |
| Refinanced loans | 471032 | 449438 |
| Past due and under legal collection loans | 1301056 | 1318758 |
|  | 51589739 | 50415364 |
| **Plus (minus)** |  |  |
| Accrued interest from performing loans | 556376 | 569384 |
| Unearned interest and interest collected in advance | (18935) | (25133) |
| Impairment allowance for loans (d) | (1712096) | (1730167) |
| **Total direct loans, net** | 50415084 | 49229448 |
| **Indirect loans** | 5646613 | 5068694 |

---

(\*) Under the program "Reactiva Peru", launched by the Peruvian Government in the context of the pandemic Covid-19, as a credit program guaranteed by it, Interbank granted loans for S/6,617,142,000, and the balance as of June 30, 2025 amounts to S/163,607,000, including accrued interest for S/46,039,000; S/54,708,000 being the amount covered by the guarantee of the Peruvian Government (as of December 31, 2024 amounts to S/315,379,000, including accrued interest for S/45,229,000; S/192,948,000 being the amount covered by the guarantee of the Peruvian Government).

(\*\*) As of June 30, 2025 and December 31, 2024, Interbank maintains repo operations of loans represented in securities according to the BCRP's definition. In consequence, loans provided as guarantee amounts to S/19,003,000 and S/123,772,000, respectively, and is presented in the caption "Loan, net", and the related liability is presented in the caption "Due to banks and correspondents" of the interim consolidated statement of financial position; see Note 10(b).

(\*\*\*) As of June 30, 2025 and December 31, 2024, it includes non-revolving consumer loans for approximately S/2,687,205,000 and S/2,666,284,000, respectively.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The classification of the direct loan portfolio is as follows:

---

| | | |
|:---|:---|:---|
|  | **30.06.2025** | **31.12.2024** |
|  | S/(000) | S/(000) |
| Commercial loans (c.1) | 23649924 | 22770495 |
| Consumer loans (c.1) | 15013325 | 15036411 |
| Mortgage loans (c.1) | 10895235 | 10571300 |
| Small and micro-business loans (c.1) | 2031255 | 2037158 |
| **Total** | 51589739 | 50415364 |

---

For purposes of estimating the impairment loss in accordance with IFRS 9, the Group's loans are segmented into homogeneous groups that share similar risk characteristics. In this sense, the Group has determined three types of loan portfolios: Retail Banking (consumer and mortgage loans), Commercial Banking (commercial loans) and Small Business Banking (loans to small and micro-business).

------

(c) The following table shows the credit quality and maximum exposure to credit risk based on the Group's internal credit rating as of June 30, 2025 and December 31, 2024. The amounts presented do not consider impairment.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **30.06.2025** | **30.06.2025** | **30.06.2025** | **30.06.2025** | **31.12.2024** | **31.12.2024** | **31.12.2024** | **31.12.2024** |
| **Direct loans, see (c.1)** | **Stage 1** | **Stage 2** | **Stage 3** | **Total** | **Stage 1** | **Stage 2** | **Stage 3** | **Total** |
|  | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) |
| **Not impaired** |  |  |  |  |  |  |  |  |
| High grade | 37717075 | 135433 |  | 37852508 | 32184807 | 340472 |  | 32525279 |
| Standard grade | 5274128 | 1695961 |  | 6970089 | 8332692 | 1513955 |  | 9846647 |
| Substandard grade | 2189076 | 1473231 |  | 3662307 | 2705012 | 1582401 |  | 4287413 |
| Past due but not impaired | 911613 | 965685 |  | 1877298 | 1335553 | 1172779 |  | 2508332 |
| **Impaired** |  |  |  |  |  |  |  |  |
| Individually |  |  | 23040 | 23040 |  |  | 23214 | 23214 |
| Collectively |  |  | 1204497 | 1204497 |  |  | 1224479 | 1224479 |
| **Total direct loans** | 46091892 | 4270310 | 1227537 | 51589739 | 44558064 | 4609607 | 1247693 | 50415364 |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **30.06.2025** | **30.06.2025** | **30.06.2025** | **30.06.2025** | **31.12.2024** | **31.12.2024** | **31.12.2024** | **31.12.2024** |
| **Contingent Credits: Guarantees and stand by letters, import and export letters of credit (substantially, all indirect loans correspond to commercial loans)** | **Stage 1**<br> S/(000) | **Stage 2**<br> S/(000) | **Stage 3**<br> S/(000) | **Total**<br> S/(000) | **Stage 1**<br> S/(000) | **Stage 2**<br> S/(000) | **Stage 3**<br> S/(000) | **Total**<br> S/(000) |
| **Not impaired** |  |  |  |  |  |  |  |  |
| High grade | 4728647 | 212946 |  | 4941593 | 3434095 | 31240 |  | 3465335 |
| Standard grade | 309259 | 129034 |  | 438293 | 1055740 | 118821 |  | 1174561 |
| Substandard grade | 114188 | 140104 |  | 254292 | 272352 | 132498 |  | 404850 |
| Past due but not impaired |  |  |  |  |  |  |  |  |
| **Impaired** |  |  |  |  |  |  |  |  |
| Individually |  |  | 6181 | 6181 |  |  | 6181 | 6181 |
| Collectively |  |  | 6254 | 6254 |  |  | 17767 | 17767 |
| **Total indirect loans** | 5152094 | 482084 | 12435 | 5646613 | 4762187 | 282559 | 23948 | 5068694 |

---

------

(c.1) The following tables show the credit quality and maximum exposure to credit risk for each classification of the direct loans:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **30.06.2025** | **30.06.2025** | **30.06.2025** | **30.06.2025** | **31.12.2024** | **31.12.2024** | **31.12.2024** | **31.12.2024** |
|  | **Stage 1** | **Stage 2** | **Stage 3** | **Total** | **Stage 1** | **Stage 2** | **Stage 3** | **Total** |
| **Commercial loans** | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) |
| **Not impaired** |  |  |  |  |  |  |  |  |
| High grade | 16916786 | 83070 |  | 16999856 | 11636968 | 290927 |  | 11927895 |
| Standard grade | 3091075 | 1292059 |  | 4383134 | 6274653 | 1024426 |  | 7299079 |
| Substandard grade | 1102965 | 276616 |  | 1379581 | 1749950 | 356019 |  | 2105969 |
| Past due but not impaired | 393175 | 196875 |  | 590050 | 770026 | 345062 |  | 1115088 |
| **Impaired** |  |  |  |  |  |  |  |  |
| Individually |  |  | 23040 | 23040 |  |  | 23214 | 23214 |
| Collectively |  |  | 274263 | 274263 |  |  | 299250 | 299250 |
| **Total direct loans** | 21504001 | 1848620 | 297303 | 23649924 | 20431597 | 2016434 | 322464 | 22770495 |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **30.06.2025** | **30.06.2025** | **30.06.2025** | **30.06.2025** | **31.12.2024** | **31.12.2024** | **31.12.2024** | **31.12.2024** |
|  | **Stage 1** | **Stage 2** | **Stage 3** | **Total** | **Stage 1** | **Stage 2** | **Stage 3** | **Total** |
| **Consumer loans** | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) |
| **Not impaired** |  |  |  |  |  |  |  |  |
| High grade | 10792030 | 30631 |  | 10822661 | 10914268 | 28813 |  | 10943081 |
| Standard grade | 1302095 | 289516 |  | 1591611 | 1210504 | 320220 |  | 1530724 |
| Substandard grade | 711557 | 725789 |  | 1437346 | 593507 | 765324 |  | 1358831 |
| Past due but not impaired | 194849 | 469138 |  | 663987 | 180748 | 508336 |  | 689084 |
| **Impaired** |  |  |  |  |  |  |  |  |
| Individually |  |  |  |  |  |  |  |  |
| Collectively |  |  | 497720 | 497720 |  |  | 514691 | 514691 |
| **Total direct loans** | 13000531 | 1515074 | 497720 | 15013325 | 12899027 | 1622693 | 514691 | 15036411 |

---

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **30.06.2025** | **30.06.2025** | **30.06.2025** | **30.06.2025** | **31.12.2024** | **31.12.2024** | **31.12.2024** | **31.12.2024** |
|  | **Stage 1** | **Stage 2** | **Stage 3** | **Total** | **Stage 1** | **Stage 2** | **Stage 3** | **Total** |
| **Mortgage loans** | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) |
| **Not impaired** |  |  |  |  |  |  |  |  |
| High grade | 8768442 | 21452 |  | 8789894 | 8407045 | 20165 |  | 8427210 |
| Standard grade | 506301 | 3319 |  | 509620 | 528923 | 3714 |  | 532637 |
| Substandard grade | 307889 | 417796 |  | 725685 | 318802 | 400671 |  | 719473 |
| Past due but not impaired | 285338 | 233700 |  | 519038 | 322348 | 244537 |  | 566885 |
| **Impaired** |  |  |  |  |  |  |  |  |
| Individually |  |  |  |  |  |  |  |  |
| Collectively |  |  | 350998 | 350998 |  |  | 325095 | 325095 |
| **Total direct loans** | 9867970 | 676267 | 350998 | 10895235 | 9577118 | 669087 | 325095 | 10571300 |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **30.06.2025** | **30.06.2025** | **30.06.2025** | **30.06.2025** | **31.12.2024** | **31.12.2024** | **31.12.2024** | **31.12.2024** |
|  | **Stage 1** | **Stage 2** | **Stage 3** | **Total** | **Stage 1** | **Stage 2** | **Stage 3** | **Total** |
| **Small and micro-business loans** | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) |
| **Not impaired** |  |  |  |  |  |  |  |  |
| High grade | 1239817 | 280 |  | 1240097 | 1226526 | 567 |  | 1227093 |
| Standard grade | 374657 | 111067 |  | 485724 | 318612 | 165595 |  | 484207 |
| Substandard grade | 66665 | 53030 |  | 119695 | 42753 | 60387 |  | 103140 |
| Past due but not impaired | 38251 | 65972 |  | 104223 | 62431 | 74844 |  | 137275 |
| **Impaired** |  |  |  |  |  |  |  |  |
| Individually |  |  |  |  |  |  |  |  |
| Collectively |  |  | 81516 | 81516 |  |  | 85443 | 85443 |
| **Total direct loans** | 1719390 | 230349 | 81516 | 2031255 | 1650322 | 301393 | 85443 | 2037158 |

---

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The balances of the direct and indirect loan portfolio and the movement of the respective allowance for expected credit loss, calculated according to IFRS 9, is as follows:

(d.1) Direct loans

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **30.06.2025** | **30.06.2025** | **30.06.2025** | **30.06.2025** | **30.06.2024** | **30.06.2024** | **30.06.2024** | **30.06.2024** | **31.12.2024** |
| **Changes in the allowance for expected credit losses for direct loans, see (d.1.1)** | **Stage 1** | **Stage 2** | **Stage 3** | **Total** | **Stage 1** | **Stage 2** | **Stage 3** | **Total** | **Total** |
|  | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) |
| **Expected credit loss at beginning of year balances** | 439324 | 566636 | 724207 | 1730167 | 545242 | 833912 | 970271 | 2349425 | 2349425 |
| Impact of the expected credit loss on the consolidated statement of income - |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;New originated or purchased assets | 178625 |  |  | 178625 | 178159 |  |  | 178159 | 345800 |
| &nbsp;&nbsp;&nbsp;&nbsp;Assets matured or derecognized (excluding write-offs) | (62673) | (49947) | (21047) | (133667) | (70187) | (35056) | (15748) | (120991) | (205649) |
| &nbsp;&nbsp;&nbsp;&nbsp;Transfers to Stage 1 | 87419 | (86606) | (813) |  | 114165 | (112528) | (1637) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Transfers to Stage 2 | (78158) | 86025 | (7867) |  | (108949) | 115860 | (6911) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Transfers to Stage 3 | (14783) | (119152) | 133935 |  | (33212) | (320217) | 353429 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Impact on the expected credit loss for credits that change stage in the period | (71048) | 141714 | 418215 | 488881 | (93319) | 208540 | 882157 | 997378 | 1571218 |
| &nbsp;&nbsp;&nbsp;&nbsp;Others | (29634) | (33506) | 181362 | 118222 | (86321) | (61680) | 120518 | (27483) | 12523 |
| **Total** | 9748 | (61472) | 703785 | 652061 | (99664) | (205081) | 1331808 | 1027063 | 1723892 |
| Write-offs |  |  | (750903) | (750903) |  |  | (1456953) | (1456953) | (2524919) |
| Recovery of written–off loans |  |  | 87040 | 87040 |  |  | 80299 | 80299 | 179683 |
| Foreign exchange effect | (360) | (662) | (5247) | (6269) | 489 | 493 | 2758 | 3740 | 2086 |
| **Expected credit loss at the end of period** | 448712 | 504502 | 758882 | 1712096 | 446067 | 629324 | 928183 | 2003574 | 1730167 |

---

------

(d.1.1) The following tables show the movement of the allowance for expected credit losses for each classification of the direct loan portfolio:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **30.06.2025** | **30.06.2025** | **30.06.2025** | **30.06.2025** | **30.06.2024** | **30.06.2024** | **30.06.2024** | **30.06.2024** | **31.12.2024** |
| **Commercial loans** | **Stage 1** | **Stage 2** | **Stage 3** | **Total** | **Stage 1** | **Stage 2** | **Stage 3** | **Total** | **Total** |
|  | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) |
| **Expected credit loss at beginning of year** | 16640 | 36158 | 123013 | 175811 | 51611 | 64470 | 162385 | 278466 | 278466 |
| Impact of the expected credit loss on the consolidated statement of income - |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;New originated or purchased assets | 30053 |  |  | 30053 | 38886 |  |  | 38886 | 35739 |
| &nbsp;&nbsp;&nbsp;&nbsp;Assets derecognized or matured (excluding write-offs) | (10426) | (11698) | (2184) | (24308) | (22796) | (12959) | (1293) | (37048) | (50613) |
| &nbsp;&nbsp;&nbsp;&nbsp;Transfers to Stage 1 | 4645 | (4645) |  |  | 8617 | (8421) | (196) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Transfers to Stage 2 | (13466) | 13823 | (357) |  | (16395) | 17291 | (896) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Transfers to Stage 3 | (98) | (952) | 1050 |  | (1286) | (11845) | 13131 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Impact on the expected credit loss for credits that change stage in the period | (3714) | 2656 | (1896) | (2954) | (6496) | 2624 | 19916 | 16044 | 5748 |
| &nbsp;&nbsp;&nbsp;&nbsp;Others | (2430) | (4262) | 82451 | 75759 | (11500) | (7022) | (1717) | (20239) | (21110) |
| **Total** | 4564 | (5078) | 79064 | 78550 | (10970) | (20332) | 28945 | (2357) | (30236) |
| Write-offs |  |  | (24342) | (24342) |  |  | (39523) | (39523) | (78217) |
| Recovery of written–off loans |  |  | 3543 | 3543 |  |  | 2315 | 2315 | 4254 |
| Foreign exchange effect | (331) | (326) | (4077) | (4734) | 473 | 315 | 1945 | 2733 | 1544 |
| **Expected credit loss at the end of period** | 20873 | 30754 | 177201 | 228828 | 41114 | 44453 | 156067 | 241634 | 175811 |

---

------

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **30.06.2025** | **30.06.2025** | **30.06.2025** | **30.06.2025** | **30.06.2024** | **30.06.2024** | **30.06.2024** | **30.06.2024** | **31.12.2024** |
| **Consumer loans** | **Stage 1** | **Stage 2** | **Stage 3** | **Total** | **Stage 1** | **Stage 2** | **Stage 3** | **Total** | **Total** |
|  | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) |
| **Expected credit loss at beginning of year** | 403740 | 474416 | 494700 | 1372856 | 466606 | 713361 | 682417 | 1862384 | 1862384 |
| Impact of the expected credit loss on the consolidated statement of income - |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;New originated or purchased assets | 125485 |  |  | 125485 | 120504 |  |  | 120504 | 219439 |
| &nbsp;&nbsp;&nbsp;&nbsp;Assets derecognized or matured (excluding write-offs) | (45865) | (29204) | (5620) | (80689) | (40039) | (18475) | (6271) | (64785) | (121477) |
| &nbsp;&nbsp;&nbsp;&nbsp;Transfers to Stage 1 | 69788 | (68998) | (790) |  | 93428 | (92200) | (1228) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Transfers to Stage 2 | (55108) | 58484 | (3376) |  | (79345) | 82185 | (2840) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Transfers to Stage 3 | (12110) | (106349) | 118459 |  | (28466) | (285148) | 313614 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Impact on the expected credit loss for credits that change stage in the period | (55531) | 115149 | 388177 | 447795 | (75876) | 183266 | 801026 | 908416 | 1461306 |
| &nbsp;&nbsp;&nbsp;&nbsp;Others | (35575) | (26115) | 99563 | 37873 | (68124) | (50368) | 127198 | 8706 | 95934 |
| **Total** | (8916) | (57033) | 596413 | 530464 | (77918) | (180740) | 1231499 | 972841 | 1655202 |
| Write-offs |  |  | (689054) | (689054) |  |  | (1343811) | (1343811) | (2310032) |
| Recovery of written–off loans |  |  | 77007 | 77007 |  |  | 72645 | 72645 | 165081 |
| Foreign exchange effect | (1) | (204) | (288) | (493) | 1 | 154 | 242 | 397 | 221 |
| **Expected credit loss at the end of period** | 394823 | 417179 | 478778 | 1290780 | 388689 | 532775 | 642992 | 1564456 | 1372856 |

---

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **30.06.2025** | **30.06.2025** | **30.06.2025** | **30.06.2025** | **30.06.2024** | **30.06.2024** | **30.06.2024** | **30.06.2024** | **31.12.2024** |
| **Mortgage loans** | **Stage 1** | **Stage 2** | **Stage 3** | **Total** | **Stage 1** | **Stage 2** | **Stage 3** | **Total** | **Total** |
|  | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) |
| **Expected credit loss at beginning of year** | 5523 | 43956 | 44321 | 93800 | 6794 | 25753 | 54651 | 87198 | 87198 |
| Impact of the expected credit loss on the consolidated statement of income - |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;New originated or purchased assets | 1493 |  |  | 1493 | 1613 |  |  | 1613 | 4114 |
| &nbsp;&nbsp;&nbsp;&nbsp;Assets derecognized or matured (excluding write-offs) | (189) | (1234) | (6718) | (8141) | (201) | (793) | (5856) | (6850) | (11385) |
| &nbsp;&nbsp;&nbsp;&nbsp;Transfers to Stage 1 | 10907 | (10907) |  |  | 8200 | (8200) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Transfers to Stage 2 | (1192) | 5261 | (4069) |  | (1599) | 4582 | (2983) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Transfers to Stage 3 | (356) | (3100) | 3456 |  | (609) | (2876) | 3485 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Impact on the expected credit loss for credits that change stage in the period | (10695) | 10677 | 9804 | 9786 | (7863) | 14976 | 16129 | 23242 | 22256 |
| &nbsp;&nbsp;&nbsp;&nbsp;Others | (545) | (436) | 3287 | 2306 | (2669) | (886) | (1715) | (5270) | (6945) |
| **Total** | (577) | 261 | 5760 | 5444 | (3128) | 6803 | 9060 | 12735 | 8040 |
| Write-offs |  |  | (1081) | (1081) |  |  | (1071) | (1071) | (1755) |
| Recovery of written–off loans |  |  |  |  |  |  |  |  |  |
| Foreign exchange effect | (25) | (76) | (848) | (949) | 15 | 24 | 564 | 603 | 317 |
| **Expected credit loss at the end of period** | 4921 | 44141 | 48152 | 97214 | 3681 | 32580 | 63204 | 99465 | 93800 |

---

------

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **30.06.2025** | **30.06.2025** | **30.06.2025** | **30.06.2025** | **30.06.2024** | **30.06.2024** | **30.06.2024** | **30.06.2024** | **31.12.2024** |
| **Small and micro-business loans** | **Stage 1** | **Stage 2** | **Stage 3** | **Total** | **Stage 1** | **Stage 2** | **Stage 3** | **Total** | **Total** |
|  | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) |
| **Expected credit loss at beginning of year** | 13421 | 12106 | 62173 | 87700 | 20231 | 30328 | 70818 | 121377 | 121377 |
| Impact of the expected credit loss on the consolidated statement of income - |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;New originated or purchased assets | 21594 |  |  | 21594 | 17156 |  |  | 17156 | 86508 |
| &nbsp;&nbsp;&nbsp;&nbsp;Assets derecognized or matured (excluding write-offs) | (6193) | (7811) | (6525) | (20529) | (7151) | (2829) | (2328) | (12308) | (22174) |
| &nbsp;&nbsp;&nbsp;&nbsp;Transfers to Stage 1 | 2079 | (2056) | (23) |  | 3920 | (3707) | (213) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Transfers to Stage 2 | (8392) | 8457 | (65) |  | (11610) | 11802 | (192) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Transfers to Stage 3 | (2219) | (8751) | 10970 |  | (2851) | (20348) | 23199 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Impact on the expected credit loss for credits that change stage in the period | (1108) | 13232 | 22130 | 34254 | (3084) | 7674 | 45086 | 49676 | 81908 |
| &nbsp;&nbsp;&nbsp;&nbsp;Others | 8916 | (2693) | (3939) | 2284 | (4028) | (3404) | (3248) | (10680) | (55356) |
| **Total** | 14677 | 378 | 22548 | 37603 | (7648) | (10812) | 62304 | 43844 | 90886 |
| Write-offs |  |  | (36426) | (36426) |  |  | (72548) | (72548) | (134915) |
| Recovery of written–off loans |  |  | 6490 | 6490 |  |  | 5339 | 5339 | 10348 |
| Foreign exchange effect | (3) | (56) | (34) | (93) |  |  | 7 | 7 | 4 |
| **Expected credit loss at the end of period** | 28095 | 12428 | 54751 | 95274 | 12583 | 19516 | 65920 | 98019 | 87700 |

---

------

(d.2) Indirect loans (substantially, all indirect loans correspond to commercial loans)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **30.06.2025** | **30.06.2025** | **30.06.2025** | **30.06.2025** | **30.06.2024** | **30.06.2024** | **30.06.2024** | **30.06.2024** | **31.12.2024** |
| **Changes in the allowance for expected credit losses for indirect loans** | **Stage 1** | **Stage 2** | **Stage 3** | **Total** | **Stage 1** | **Stage 2** | **Stage 3** | **Total** | **Total** |
|  | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) |
| **Expected credit loss at beginning of year balance** | 2663 | 2250 | 9335 | 14248 | 6624 | 3939 | 7369 | 17932 | 17932 |
| Impact of the expected credit loss on the consolidated statement of income - |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;New originated or purchased assets | 1559 |  |  | 1559 | 1766 |  |  | 1766 | 2110 |
| &nbsp;&nbsp;&nbsp;&nbsp;Assets derecognized or matured | (526) | (401) | (1262) | (2189) | (1876) | (872) | (328) | (3076) | (5089) |
| &nbsp;&nbsp;&nbsp;&nbsp;Transfers to Stage 1 | 354 | (354) |  |  | 1457 | (1457) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Transfers to Stage 2 | (690) | 731 | (41) |  | (395) | 659 | (264) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Transfers to Stage 3 | (118) |  | 118 |  | (11) | (12) | 23 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Impact on the expected credit loss for credits that change stage in the period | (223) | 384 | (22) | 139 | (1127) | (54) | 256 | (925) | 92 |
| &nbsp;&nbsp;&nbsp;&nbsp;Others | 137 | 64 | (493) | (292) | (1447) | (498) | 370 | (1575) | (826) |
| **Total** | 493 | 424 | (1700) | (783) | (1633) | (2234) | 57 | (3810) | (3713) |
| Foreign exchange effect | (22) | (7) | (2) | (31) | 74 | 23 | 4 | 101 | 29 |
| **Expected credit loss at the end of period, Note 8(a)** | 3134 | 2667 | 7633 | 13434 | 5065 | 1728 | 7430 | 14223 | 14248 |

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------

**7. Investment property** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) This caption is made up as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **30.06.2025** | **31.12.2024** | **Acquisition or construction year** | **Valuation methodology** |
|  | S/(000) | S/(000) |  |  |
| **Land (i)** |  |  |  |  |
| San Isidro – Lima | 273121 | 279775 | 2009 | Appraisal |
| Pardo (Vivanda) | 103983 | 68200 | 2021 | Appraisal/Cost |
| San Martín de Porres – Lima | 82165 | 80389 | 2015 | Appraisal |
| Nuevo Chimbote | 36592 | 37382 | 2021 | Appraisal |
| Ate Vitarte – Lima | 31550 | 32195 | 2006 | Appraisal |
| Santa Clara – Lima | 27951 | 28613 | 2017 | Appraisal |
| Others | 33399 | 33982 | - | Appraisal/Cost |
|  | 588761 | 560536 |  |  |
| **Completed investment property -<br>"Real Plaza" shopping malls (i)** |  |  |  |  |
| Talara | 24522 | 26720 | 2015 | DCF |
|  | 24522 | 26720 |  |  |
| **Buildings (i)** |  |  |  |  |
| Orquideas - San Isidro – Lima | 148860 | 150718 | 2017 | DCF |
| Ate Vitarte – Lima | 144054 | 133768 | 2006 | DCF |
| Paseo del Bosque | 101760 | 100023 | 2021 | DCF |
| Chorrillos – Lima | 101520 | 95849 | 2017 | DCF |
| Piura | 100501 | 94907 | 2020 | DCF |
| Chimbote | 51615 | 48690 | 2015 | DCF |
| Maestro-Huancayo | 37187 | 35004 | 2017 | DCF |
| Cuzco | 32198 | 29843 | 2017 | DCF |
| Panorama – Lima | 23779 | 22474 | 2016 | DCF |
| Others | 88944 | 83256 | - | DCF/Appraisal |
|  | 830418 | 794532 |  |  |
| **Total** | 1443701 | 1381788 |  |  |

---

DCF: Discounted cash flow

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) As of June 30, 2025 and December 31, 2024, there are no liens on investment property.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The net gain on investment properties, corresponding to the semesters ending June 30, 2025 and 2024, consists of the following:

---

| | | |
|:---|:---|:---|
|  | **30.06.2025** | **30.06.2024** |
|  | S/(000) | S/(000) |
| Gain on valuation | 28114 | 52188 |
| Income from rental | 37788 | 35069 |
| Gain (loss) on sale | 320 | (3176) |
| **Net gain** | 66222 | 84081 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The movement of investment property for the six-month period ended June 30, 2025 and 2024, is as follows:

---

| | | |
|:---|:---|:---|
|  | **30.06.2025** | **30.06.2024** |
|  | S/(000) | S/(000) |
| **Beginning of period balance** | 1381788 | 1298892 |
| Additions | 38799 | 39279 |
| Sales |  | (39176) |
| Gain on valuation | 28114 | 52188 |
| Net transfers | (5000) |  |
| **Balance as of June 30** | 1443701 | 1351183 |
| **Balance as of December 31, 2024** |  | 1381788 |

---

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**8. Other accounts receivable and other assets, net, and other accounts payable, provisions and other liabilities** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) These captions are comprised of the following:

---

| | | |
|:---|:---|:---|
|  | **30.06.2025** | **31.12.2024** |
|  | S/(000) | S/(000) |
| **Other accounts receivable and other assets** |  |  |
| **Financial instruments** |  |  |
| Other accounts receivable, net | 494247 | 540883 |
| Accounts receivable from sale of investments | 283742 | 432341 |
| Accounts receivable related to derivative financial instruments (b) | 187169 | 143201 |
| POS commission receivable | 173415 | 390126 |
| Operations in process | 170359 | 149105 |
| Accounts receivable from short sale operations | 9334 | 61191 |
| Others | 14702 | 14954 |
|  | 1332968 | 1731801 |
| **Non-financial instruments** |  |  |
| Tax paid to recover | 600706 | 673786 |
| Deferred charges | 122621 | 99776 |
| Deferred cost of POS affiliation and registration | 79877 | 85006 |
| Tax credit for General Sales Tax - IGV | 29430 | 35391 |
| Investments in associates | 23106 | 24795 |
| POS equipment supplies | 13105 | 12966 |
| Assets received as payment and seized through legal actions | 3876 | 4158 |
| Others | 7147 | 2499 |
|  | 879868 | 938377 |
| **Total** | 2212836 | 2670178 |

---

------

---

| | | |
|:---|:---|:---|
|  | **30.06.2025** | **31.12.2024** |
|  | S/(000) | S/(000) |
| **Other accounts payable, provisions and other liabilities** |  |  |
| **Financial instruments** |  |  |
| Insurance contract liability with investment component | 1694753 | 1308422 |
| Other accounts payable | 665287 | 665296 |
| Third party compensation (\*) | 589484 | 866665 |
| Operations in process | 367138 | 556543 |
| Accounts payable related to derivative financial instruments (b) | 171908 | 102288 |
| Lease liabilities | 156272 | 143803 |
| Workers' profit sharing and salaries payable | 154333 | 109395 |
| Accounts payable for purchase of investments | 34486 | 353787 |
| Allowance for indirect loan losses, Note 6(d.2) | 13434 | 14248 |
| Financial liabilities at fair value through profit or los | 11528 | 61153 |
| Accounts payable to reinsurers and coinsurers | 10564 | 6354 |
|  | 3869187 | 4187954 |
| **Non-financial instruments** |  |  |
| Taxes payable | 89844 | 87262 |
| Provision for other contingencies | 81815 | 107078 |
| Deferred income (\*\*) | 36833 | 36394 |
| Registration for use of POS | 14794 | 18005 |
| Others | 9481 | 8839 |
|  | 232767 | 257578 |
| **Total** | 4101954 | 4445532 |

---

(\*) Corresponds mainly to outstanding balances payable to affiliated businesses, for the consumptions made by the card's users, net of the respective fee charged by Izipay, which are mainly settled the day after the transaction was made.

(\*\*) Corresponds mainly to deferred fees for indirect loans (mainly guarantee letters) and the transactions registered in Izipay related to installments pending of accrual within the contract's term with affiliated businesses.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The following table presents, as of June 30, 2025 and December 31, 2024, the fair value of derivative financial instruments recorded as assets or liabilities, including their notional amounts.

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Assets** | **Liabilities** | **Notional<br>amount** | **Effective part recognized in other comprehensive income during the year** | **Maturity** | **Hedged<br>instruments** | **Caption of the consolidated statement of financial position where the hedged item has been recognized** |
| **As of June 30, 2025** | **S/(000)** | **S/(000)** | **S/(000)** | **S/(000)** |  |  |  |
| **Derivatives held for trading -** |  |  |  |  |  |  |  |
| Forward exchange contracts | 120283 | 66067 | 7154546 |  | Between July 2025 and February 2027 | - | - |
| Interest rate swaps | 24908 | 14920 | 2074204 |  | Between July 2025 and June 2036 | - | - |
| Cross swaps | 7335 | 22478 | 773628 |  | Between July 2025 and April 2030 | - | - |
| Options |  | 7 | 4463 |  | Between July 2025 and April 2026 | - | - |
|  | 152526 | 103472 | 10006841 |  |  |  |  |
| **Derivatives held as hedges -<br>Cash flow hedges:** |  |  |  |  |  |  |  |
| Cross currency swaps (CCS) |  | 50540 | 1062600 | 9618 | October 2026 | Corporate bonds | Bonds, notes and obligations outstanding |
| Cross currency swaps (CCS) | 34643 |  | 532350 | 13392 | October 2027 | Senior bond | Bonds, notes and obligations outstanding |
| Cross currency swaps (CCS) |  | 8000 | 70980 | 1903 | October 2027 | Due to banks | Due to banks and correspondents |
| Cross currency swaps (CCS) |  | 7979 | 70980 | 1842 | October 2027 | Due to banks | Due to banks and correspondents |
| Cross currency swaps (CCS) |  | 1917 | 35490 | 704 | October 2027 | Senior bond | Bonds, notes and obligations outstanding |
| Cross currency swaps (CCS) |  |  |  | 33 | - | Senior bond | Bonds, notes and obligations outstanding |
| Cross currency swaps (CCS) |  |  |  | 492 | - | Senior bond | Bonds, notes and obligations outstanding |
| Cross currency swaps (CCS) |  |  |  | 596 | - | Due to banks | Due to banks and correspondents |
|  | 34643 | 68436 | 1772400 | 28580 |  |  |  |
|  | 187169 | 171908 | 11779241 | 28580 |  |  |  |

---

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Assets** | **Liabilities** | **Notional<br>amount** | **Effective part recognized in other comprehensive income during the year** | **Maturity** | **Hedged<br>instruments** | **Caption of the consolidated statement of financial position where the hedged item has been recognized** |
| **As of December 31, 2024** | S/(000) | S/(000) | S/(000) | S/(000) |  |  |  |
| **Derivatives held for trading -** |  |  |  |  |  |  |  |
| Forward exchange contracts | 22336 | 45012 | 7092071 |  | Between January 2025 and June 2026 | - | - |
| Cross swaps | 11593 | 13277 | 1899348 |  | Between January 2025 and November 2029 | - | - |
| Interest rate swaps | 38817 | 28812 | 1742139 |  | Between January 2025 and June 2036 | - | - |
| Options |  |  | 2518 |  | Between January 2025 and July 2025 | - | - |
|  | 72746 | 87101 | 10736076 |  |  |  |  |
| **Derivatives held as hedges-<br>Cash flow hedges:** |  |  |  |  |  |  |  |
| Cross currency swaps (CCS) | 5953 | 3415 | 1129200 | (6754) | October 2026 | Corporate bonds | Bonds, notes and obligations outstanding |
| Cross currency swaps (CCS) | 54218 |  | 565500 | (10463) | October 2027 | Senior bond | Bonds, notes and obligations outstanding |
| Cross currency swaps (CCS) | 3168 |  | 188200 | 1002 | June 2025 | Due to banks | Due to banks and correspondents |
| Cross currency swaps (CCS) |  | 404 | 188200 | 742 | May 2025 | Due to banks | Due to banks and correspondents |
| Cross currency swaps (CCS) |  | 5518 | 75400 | (1418) | October 2027 | Senior bond | Bonds, notes and obligations outstanding |
| Cross currency swaps (CCS) |  | 5433 | 75400 | (1537) | October 2027 | Senior bond | Bonds, notes and obligations outstanding |
| Cross currency swaps (CCS) | 7116 |  | 75280 | 588 | February 2025 | Due to banks | Due to banks and correspondents |
| Cross currency swaps (CCS) |  | 417 | 37700 | (433) | October 2027 | Senior bond | Bonds, notes and obligations outstanding |
| Cross currency swaps (CCS) |  |  |  | 218 | - | Due to banks | Due to banks and correspondents |
| Cross currency swaps (CCS) |  |  |  | 632 | - | Due to banks | Due to banks and correspondents |
| Cross currency swaps (CCS) |  |  |  | 243 | - | Due to banks | Due to banks and correspondents |
|  | 70455 | 15187 | 2334880 | (17180) |  |  |  |
|  | 143201 | 102288 | 13070956 | (17180) |  |  |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) As of June 30, 2025 and December 31, 2024, certain derivative financial instruments hold collateral deposits; see Note 4(d).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) For the designated hedging derivatives mentioned in the table above, changes in fair values of hedging instruments completely offset the changes in fair values of hedged items; therefore, there has been no hedge ineffectiveness as of June 30, 2025 and December 31, 2024. During 2025 and 2024, there were no discontinued hedges accounting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) Derivatives held for trading are traded mainly to satisfy clients' needs. The Group may also take positions with the expectation of profiting from favorable movements in prices or rates. Also, this caption includes any derivatives which do not comply with IFRS 9 hedging accounting requirements.

------

**9. Deposits and obligations** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) This caption is made up as follows:

---

| | | |
|:---|:---|:---|
|  | **30.06.2025** | **31.12.2024** |
|  | S/(000) | S/(000) |
| Time deposits | 20215400 | 19891128 |
| Saving deposits | 19910796 | 19411720 |
| Demand deposits | 13854902 | 13746684 |
| Compensation for service time | 767513 | 711806 |
| Other obligations | 6592 | 6690 |
| **Total** | 54755203 | 53768028 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Interest rates applied to deposits and obligations are determined based on the market interest rates.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) As of June 30, 2025 and December 31, 2024, deposits and obligations of approximately S/19,682,644,000 and S/19,978,058,000, respectively, are covered by the Peruvian Deposit Insurance Fund. Likewise, at those dates, the coverage of the Deposit Insurance Fund by each client is up to S/120,500 and S/121,600, respectively.

**10. Due to banks and correspondents** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) This caption is comprised of the following:

---

| | | |
|:---|:---|:---|
|  | **30.06.2025** | **31.12.2024** |
|  | S/(000) | S/(000) |
| **By type -** |  |  |
| Banco Central de Reserva del Peru (b) | 2570338 | 1756687 |
| Promotional credit lines | 2089022 | 2090825 |
| Loans received from foreign entities | 2232278 | 3304169 |
| Loans received from Peruvian entities | 393643 | 332165 |
|  | 7285281 | 7483846 |
| Interest and commissions payable | 49823 | 78211 |
|  | 7335104 | 7562057 |
| **By term -** |  |  |
| Short term | 3485136 | 3586376 |
| Long term | 3849968 | 3975681 |
| **Total** | 7335104 | 7562057 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) As part of the exceptional measures implemented to mitigate the financial and economic impact generated by the Covid-19 pandemic, the BCRP issued a series of regulations related to the loans repurchase agreements.As of June 30, 2025 and December 31, 2024, Interbank maintains this type of operations guaranteed by a loan portfolio for approximately S/19,003,000 and S/123,772,000, respectively. See Note 6(a).

------

**11. Bonds, notes and other obligations** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) This caption is comprised of the following:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Issuance** | **Issuer** | **Annual<br>interest rate** | **Payment frequency** | **Maturity** | **Amount<br>issued** | **30.06.2025** | **31.12.2024** |
|  |  |  |  |  | (000) | S/(000) | S/(000) |
| **Local issuances** |  |  |  |  |  |  |  |
| **Subordinated bonds – third program (b)** |  |  |  |  |  |  |  |
| Fourth - single series | Interseguro | 7.09375% | Semi-annually | 2034 | US$34,780 | 123191 | 130912 |
| Third - single series | Interseguro | 4.84375% | Semi-annually | 2030 | US$25,000 | 88550 | 94100 |
|  |  |  |  |  |  | 211741 | 225012 |
| **Subordinated bonds – fourth program** |  |  |  |  |  |  |  |
| First (A series) | Interseguro | 6.75% | Semi-annually | 2034 | US$28,706 | 101677 | 108049 |
| First (B series) | Interseguro | 6.50% | Semi-annually | 2035 | US$18,217 | 64525 |  |
|  |  |  |  |  |  | 166202 | 108049 |
| **Negotiable certificates of deposits – second program** |  |  |  |  |  |  |  |
| First (A series) | Interbank | 5.21875% | Annual | 2025 | S/112,964 | 112886 | 110010 |
| First (B series) | Interbank | 4.9375% | Annual | 2025 | S/138,435 | 137199 | 133852 |
| First (C series) | Interbank | 4.59375% | Annual | 2025 | S/102,000 | 99952 | 97643 |
|  |  |  |  |  |  | 350037 | 341505 |
| **Corporate bonds – second program** |  |  |  |  |  |  |  |
| Fifth (A series) | Interbank | 3.41% + VAC (\*) | Semi-annually | 2029 | S/150,000 | 150000 | 150000 |
| **Total local issuances** |  |  |  |  |  | 877980 | 824566 |
| **International issuances** |  |  |  |  |  |  |  |
| Subordinated bonds | Interbank | 4.000% | Semi-annually | 2030 | US$300,000 | 1058581 | 1124502 |
| Corporate bonds | Interbank | 5.000% | Semi-annually | 2026 | S/312,000 | 311849 | 311788 |
| Corporate bonds | Interbank | 3.250% | Semi-annually | 2026 | US$400,000 | 1414328 | 1501894 |
| Senior bonds | IFS | 4.125% | Semi-annually | 2027 | US$300,000 | 1000750 | 1062514 |
| Subordinated bonds | Interbank | 7.625% | Semi-annually | 2034 | US$300,000 | 1056793 | 1122122 |
| Subordinated bonds | Interbank | 6.397% | Semi-annually | 2035 | US$350,000 | 1133505 |  |
| **Total international issuances** |  |  |  |  |  | 5975806 | 5122820 |
| **Total local and international issuances** |  |  |  |  |  | 6853786 | 5947386 |
| Interest payable |  |  |  |  |  | 138889 | 128047 |
| **Total** |  |  |  |  |  | 6992675 | 6075433 |

---

(\*) The Spanish term "Valor de actualización constante" is referred to amounts in Soles indexed by inflation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) International issuances are listed at the Luxembourg Stock Exchange. On the other hand, the local and international issuances include standard clauses of compliance with financial ratios, the use of funds and other administrative matters, which have met by the Group as of June 30, 2025 and December 31, 2024.

------

**12. Assets and Liabilities for insurance and reinsurance contracts** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) This caption is comprised of the following:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **30.06.2025** | **30.06.2025** | **30.06.2025** | **31.12.2024** | **31.12.2024** | **31.12.2024** |
|  | **Assets** | **Liabilities** | **Net** | **Assets** | **Liabilities** | **Net** |
|  | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) |
| **Reinsurance contracts held (\*)** | (16738) | 1584 | (15154) | (18602) | 1968 | (16634) |
| **Insurance contracts issued** |  |  |  |  |  |  |
| Remaining coverage liability | (39333) | 12255699 | 12216366 |  | 12335922 | 12335922 |
| Liability for claims incurred |  | 265355 | 265355 |  | 186430 | 186430 |
| **Total insurance contracts issued (b) and (c)** | (39333) | 12521054 | 12481721 |  | 12522352 | 12522352 |
| **Total reinsurance contracts held and issued** | (56071) | 12522638 | 12466567 | (18602) | 12524320 | 12505718 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(\*) Correspond to the ceded part of the reinsurance contracts mainly life insurance contracts.

------

(b) The composition of issued insurance contract liabilities is presented below:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **30.06.2025** | **30.06.2025** | **30.06.2025** | **30.06.2025** | **30.06.2025** | **30.06.2025** | **30.06.2025** |
|  | **Liabilities remaining coverage** | **Liabilities remaining coverage** | **Liabilities remaining coverage for claims incurred in contracts measured by the general model (BBA) and variable rate model (VFA)** | **Liabilities remaining coverage for claims incurred in contracts measured by the general model (BBA) and variable rate model (VFA)** | **Liabilities Claim incurred contracts measured by the Premium Allocation Approach (PAA)** | **Liabilities Claim incurred contracts measured by the Premium Allocation Approach (PAA)** |  |
|  | **Excluding loss component** | **Loss component** | **Fulfillment <br>Cash Flows (FCF)** | **Risk <br>Adjustment (RA)** | **Fulfillment <br>Cash Flows (FCF)** | **Risk <br>Adjustment (RA)** | **Total** |
|  | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) |
| **Balance as of January 1, 2025** | 11593754 | 742168 | 148101 | 4271 | 33276 | 782 | 12522352 |
| Insurance revenue | (531692) |  |  |  |  |  | (531692) |
| &nbsp;&nbsp;Contracts under fair value, BBA and VFA approach | (287317) |  |  |  |  |  | (287317) |
| &nbsp;&nbsp;Contracts under PAA approach | (244375) |  |  |  |  |  | (244375) |
| Insurance service expenses | 86557 | (4501) | 201424 | (3350) | 179491 | 4031 | 463652 |
| &nbsp;&nbsp;Claims and other expenses incurred |  |  | 466966 | 44 | 136420 | 4031 | 607461 |
| &nbsp;&nbsp;Amortization of insurance acquisition cash flows | 86557 |  |  |  |  |  | 86557 |
| &nbsp;&nbsp;Gains on onerous contracts and reversals of those losses |  | (4501) |  |  |  |  | (4501) |
| &nbsp;&nbsp;Changes to liabilities for incurred claims |  |  | (265542) | (3394) | 43071 |  | (225865) |
| **Insurance service result** | (445135) | (4501) | 201424 | (3350) | 179491 | 4031 | (68040) |
| **Insurance financial expenses** | 400802 | 14818 |  |  |  |  | 415620 |
| &nbsp;&nbsp;Insurance financial result | 296424 | 14818 |  |  |  |  | 311242 |
| &nbsp;&nbsp;Interest effect rate | 104378 |  |  |  |  |  | 104378 |
| **Effect of movements in exchange rates** | (264233) | (12666) | (2614) | 1356 | (419) | (7) | (278583) |
| **Total changes in the statement of income and other comprehensive income** | (308566) | (2349) | 198810 | (1994) | 179072 | 4024 | 68997 |
| **Net cash flow and investment component** | 191359 |  | (224610) |  | (76377) |  | (109628) |
| &nbsp;&nbsp;Premiums received | 604662 |  |  |  |  |  | 604662 |
| &nbsp;&nbsp;Claims and other expenses paid |  |  | (512835) |  | (76377) |  | (589212) |
| &nbsp;&nbsp;Insurance acquisition cash flows | (125078) |  |  |  |  |  | (125078) |
| &nbsp;&nbsp;Investment component | (288225) |  | 288225 |  |  |  |  |
| **Balance as of June 30, 2025** | 11476547 | 739819 | 122301 | 2277 | 135971 | 4806 | 12481721 |

---

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **31.12.2024** | **31.12.2024** | **31.12.2024** | **31.12.2024** | **31.12.2024** | **31.12.2024** | **31.12.2024** |
|  | **Liabilities remaining coverage** | **Liabilities remaining coverage** | **Liabilities remaining coverage for claims incurred in contracts measured by the general model (BBA) and variable rate model (VFA)** | **Liabilities remaining coverage for claims incurred in contracts measured by the general model (BBA) and variable rate model (VFA)** | **Liabilities Claim incurred contracts measured by the Premium Allocation Approach (PAA)** | **Liabilities Claim incurred contracts measured by the Premium Allocation Approach (PAA)** |  |
|  | **Excluding loss component** | **Loss component** | **Fulfillment <br>Cash Flows (FCF)** | **Risk <br>Adjustment (RA)** | **Fulfillment <br>Cash Flows (FCF)** | **Risk <br>Adjustment (RA)** | **Total** |
|  | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) |
| **Balance as of January 1, 2024** | 11301149 | 699071 | 155649 | 5257 | 43237 | 1278 | 12205641 |
| Insurance revenue | (768758) |  |  |  |  |  | (768758) |
| &nbsp;&nbsp;Contracts under fair value, BBA and VFA approach | (545835) |  |  |  |  |  | (545835) |
| &nbsp;&nbsp;Contracts under PAA approach | (222923) |  |  |  |  |  | (222923) |
| Insurance service expenses | 136433 | 6872 | 454446 | (990) | 101245 | (497) | 697509 |
| &nbsp;&nbsp;Claims and other expenses incurred |  |  | 979959 | 106 | 47549 | (497) | 1027117 |
| &nbsp;&nbsp;Amortization of insurance acquisition cash flows | 136433 |  |  |  |  |  | 136433 |
| &nbsp;&nbsp;Gains on onerous contracts and reversals of those losses |  | 6872 |  |  |  |  | 6872 |
| &nbsp;&nbsp;Changes to liabilities for incurred claims |  |  | (525513) | (1096) | 53696 |  | (472913) |
| **Insurance service result** | (632325) | 6872 | 454446 | (990) | 101245 | (497) | (71249) |
| **Insurance financial expenses** | 622647 | 32557 |  |  |  |  | 655204 |
| &nbsp;&nbsp;Insurance financial result | 563093 | 32557 |  |  |  |  | 595650 |
| &nbsp;&nbsp;Interest effect rate | 59554 |  |  |  |  |  | 59554 |
| **Effect of movements in exchange rates** | 67098 | 3668 | 292 | 4 | 146 | 1 | 71209 |
| **Total changes in the statement of income and other comprehensive income** | 57420 | 43097 | 454738 | (986) | 101391 | (496) | 655164 |
| **Net cash flow and investment component** | 235185 |  | (462286) |  | (111352) |  | (338453) |
| &nbsp;&nbsp;Premiums received | 1029082 |  |  |  |  |  | 1029082 |
| &nbsp;&nbsp;Claims and other expenses paid |  |  | (1039615) |  | (111352) |  | (1150967) |
| &nbsp;&nbsp;Insurance acquisition cash flows | (216568) |  |  |  |  |  | (216568) |
| &nbsp;&nbsp;Investment component | (577329) |  | 577329 |  |  |  |  |
| **Balance as of December 31, 2024** | 11593754 | 742168 | 148101 | 4271 | 33276 | 782 | 12522352 |

---

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Following is the present value estimates of future cash flows, risk adjustment and the contractual service margin (CSM) for portfolios included in the life insurance unit of insurance contracts issued:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **30.06.2025** | **30.06.2025** | **30.06.2025** | **30.06.2025** | **31.12.2024** | **31.12.2024** | **31.12.2024** | **31.12.2024** |
|  | **Estimates of the present value of future cash flows** | **Risk <br>Adjustment** | **Contractual Service Margin** | **Total** | **Estimates of the present value of future cash flows** | **Risk <br>Adjustment** | **Contractual Service Margin** | **Total** |
|  | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) |
| **Balance as of January 1** | 11305123 | 277284 | 870851 | 12453258 | 11072275 | 302764 | 742870 | 12117909 |
| Changes that relate to current services |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Contractual service margin recognized for services provided |  |  | (44144) | (44144) |  |  | (94596) | (94596) |
| &nbsp;&nbsp;Risk adjustment recognized for the risk expired |  | (10152) |  | (10152) |  | (12257) |  | (12257) |
| &nbsp;&nbsp;Experience adjustments | (31701) |  |  | (31701) | (30427) |  |  | (30427) |
| Changes that relate to future services |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Contracts initially recognized in the period | (159076) | 9027 | 169707 | 19658 | (260895) | 13417 | 269737 | 22259 |
| &nbsp;&nbsp;Changes in estimates that adjust the contractual service margin | 35603 | (2128) | (33475) |  | 101713 | (6470) | (95243) |  |
| &nbsp;&nbsp;Changes in estimates that do not adjust the contractual service margin | 17091 | (8658) |  | 8433 | 88456 | (36502) |  | 51954 |
| Changes that relate to past services |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Adjustments to liabilities for incurred claims | (24526) | (2010) |  | (26536) | (6806) |  |  | (6806) |
| **Insurance service result** | (162609) | (13921) | 92088 | (84442) | (107959) | (41812) | 79898 | (69873) |
| **Insurance financial expenses** | 334535 | 10216 | 24810 | 369561 | 593390 | 15090 | 46348 | 654828 |
| &nbsp;&nbsp;Insurance financial result | 230157 | 10216 | 24810 | 265183 | 533836 | 15090 | 46348 | 595274 |
| &nbsp;&nbsp;Interest rate effect (\*) | 104378 |  |  | 104378 | 59554 |  |  | 59554 |
| **Effect of movements in Exchange rates** | (219710) | (4996) | (6891) | (231597) | 68328 | 1242 | 1735 | 71305 |
| **Total changes in the statement of income and other comprehensive income** | (47784) | (8701) | 110007 | 53522 | 553759 | (25480) | 127981 | 656260 |
| **Cash flows** | (160977) |  |  | (160977) | (320911) |  |  | (320911) |
| &nbsp;&nbsp;Premiums received | 401808 |  |  | 401808 | 812221 |  |  | 812221 |
| &nbsp;&nbsp;Claims and other expenses paid | (512835) |  |  | (512835) | (1039615) |  |  | (1039615) |
| &nbsp;&nbsp;Insurance acquisition cash flows | (49950) |  |  | (49950) | (93517) |  |  | (93517) |
| **Balances** | 11096362 | 268583 | 980858 | 12345803 | 11305123 | 277284 | 870851 | 12453258 |

---

(\*) Balance does not include PPA movement of LRC and LIC amounting to S/135,918,000 and S/69,094,000 as of June 30, 2025 and December 31, 2024, respectively.

------

(d) Following is the CSM movement for insurance contract portfolios using the fair value approach, as of June 30, 2025 and December 31, 2024:

---

| | | |
|:---|:---|:---|
|  | **30.06.2025** | **31.12.2024** |
|  | S/(000) | S/(000) |
| **Contractual Service Margin as of January 1** | 870851 | 742870 |
| Changes that relate to current services |  |  |
| &nbsp;&nbsp;Contractual service margin recognized for services provided | (44144) | (94596) |
| Changes that relate to future services |  |  |
| &nbsp;&nbsp;Contracts initially recognized in the period | 169707 | 269737 |
| &nbsp;&nbsp;Changes in estimates that adjust the contractual service margin | (33475) | (95243) |
| **Insurance service result** | 92088 | 79898 |
| **Insurance financial expenses** | 24810 | 46348 |
| **Effect of movements in exchange difference** | (6891) | 1735 |
| **Total changes in the statement of income** | 110007 | 127981 |
| Other movements |  |  |
| **Balance** | 980858 | 870851 |

---

(e) Reconciliation of the amount included in net unrealized results for insurance premium reserves. On transition to IFRS 17, the Group applied the fair value approach for certain groups of contracts with term-life cover and surrender options. The movement in the fair value reserve for related financial assets measured at fair value through other comprehensive income is disclosed below:

---

| | | |
|:---|:---|:---|
|  | **30.06.2025** | **31.12.2024** |
|  | S/(000) | S/(000) |
| **Cumulative other comprehensive income, opening balance** | 682727 | 744116 |
| Losses recognized in other comprehensive income in the period | (104378) | (59554) |
| Rate effect of "Renta Particular" contract (\*) | 2452 | 1065 |
| Others | (1450) | (2900) |
| **Cumulative other comprehensive income, closing balance** | 579351 | 682727 |

---

(\*) Comprises the variation in market interest rate of contracts with investment component recorded in the caption "other accounts payable, provisions and other liabilities", see Note 8.

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**13. Equity, net**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Capital stock and distribution of dividends -

IFS's shares are listed on the Lima Stock Exchange and, since July 2019, they are listed also on the New York Stock Exchange. IFS's shares have no nominal value and their issuance value was US$9.72 per share. As of June 30, 2025 and December 31, 2024, IFS's capital stock is represented by 115,447,705 subscribed and paid-in common shares.

The General Shareholders' Meeting of IFS held on March 31, 2025, agreed to distribute dividends charged to profits for the year 2024 for approximately US$115,443,000 (equivalent to S/420,096,000); at a rate of US$1.00 per share, paid in May 2025.

The General Shareholders' Meeting of IFS held on April 1, 2024, agreed to distribute dividends charged to profits for the year 2023 for approximately US$115,443,000 (equivalent to S/427,369,000); at a rate of US$1.00 per share, paid on April 29, 2024.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Treasury stock -

On March 31, 2023, IFS's shareholders approved the Share Repurchase Program for an amount of up to US$100 million of common shares ("2023 Share Repurchase Program"). Additionally, on March 31, 2025, IFS's shareholders approved a new Share Repurchase Program, which is expected to begin after the previous program is exhausted or terminated.

As of June 30, 2025 and December 31, 2024, the Company and certain subsidiaries hold 3,886,000 and 2,159,000 shares issued by IFS, with an acquisition cost equivalent to S/405,715,000 and S/206,997,000, respectively.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (c) Capital surplus -

Corresponds to the difference between the nominal value of the shares issued and their public offerings price, which were performed in 2007 and 2019. Capital surplus is presented net of the expenses incurred and related to the issuance of such shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (d) Reserves -

The Board of Directors' Meeting of IFS held on March 31, 2025, agreed to constitute reserves for S/800,000,000 charged to retained earnings.

The Board of Directors' Meeting of IFS held on November 12, 2024, agreed to constitute reserves for S/2,300,000,000 charged to retained earnings.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Equity for legal purposes (regulatory capital) -

Within the framework of the Consolidated Supervision set out by the Regulation for the Consolidated Supervision of Financial and Mixed Conglomerates, approved by SBS Resolution No. 11823-2010 and amendments, the Intercorp Group must meet certain capital requirements as well as global and concentration limits, among other requirements, applicable to its Financial Group, which is defined by the SBS. As of June 30, 2025 and December 31, 2024, the Intercorp Group's Financial Group is comprised of Intercorp Financial Services Inc. and its subsidiaries plus Financiera Oh, a related entity and subsidiary of Intercorp Perú Ltd.

On the other hand, Interbank, Interseguro and Inteligo Bank (a Subsidiary of Inteligo Group Corp.), are individually supervised by their respective regulators. In this context, they are also subject to capital requirements and global and concentration limits, among other requirements, which are calculated based on the separate financial statement of each Subsidiary and prepared following the accounting principles and practices of their respective regulators (the SBS or the Central Bank of the Bahamas, in the case of Inteligo Bank).

As of June 30, 2025 and December 31, 2024, the Company and its subsidiaries have complied with the capital requirements and complementary provisions established by their regulators for consolidated and individual supervision purposes, as applicable.

------

**14. Tax situation**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (a) IFS is incorporated and domiciled in the Republic of Panama, is not subject to any Income Tax, or any other taxes on capital gains, equity or property. The Subsidiaries incorporated and domiciled in Peru (see Note 2) are subject to the Peruvian Tax legislation; see paragraph (c).

Peruvian life insurance companies are exempt from Income Tax regarding the income derived from assets linked to technical reserves for pension insurance and pensions from the Private Pension Fund Administration System; as well as income generated through assets related to life insurance contracts with savings component.

In Peru, all income from Peruvian sources obtained from the direct or indirect sale of shares of stock capital representing participation of legal persons domiciled in the country are subject to income tax. For that purpose, an indirect sale shall be considered to have occurred when shares of stock or ownership interests of a legal entity are sold and this legal entity is not domiciled in the country and, in turn, is the holder — whether directly or through other legal entity or entities — of shares of stock or ownership interests of one or more legal entities domiciled in the country, provided that certain conditions established by law occur.

In this sense, the Act states that an assumption of indirect transfer of shares arises when in any of the 12 months prior to disposal, the market value of shares or participation of the legal person domiciled is equivalent to 50 percent or more of the market value of shares or participation of the legal person non-domiciled. Additionally, as a concurrent condition, it is established that in any period of 12 months shares or participations representing 10 percent or more of the capital of legal persons non-domiciled be disposal.

Also, an indirect disposal assumption arises when the total amount of the shares of the domiciled legal person whose indirect disposal is performed, is equal or greater than 40,000 Taxation Units (henceforth "UIT", by its Spanish acronym).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (b) Legal entities or individuals not domiciled in Peru are subject to an additional tax (equivalent to 5 percent) on dividends received from entities domiciled in Peru. The corresponding tax is withheld by the entity that distributes the dividends. In this regard, since IFS controls the entities that distribute the dividends, it records the amount of the Income Tax on dividends as expense of the financial year of the dividends received. In this sense,as of June 30, 2025 and 2024, the Company has recorded a provision for S/20,602,000 and S/11,652,000, respectively, in the caption "Income Tax" of the interim consolidated statement of income.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (c) IFS's Subsidiaries incorporated in Peru are subject to the payment of Peruvian taxes; hence, they must calculate their tax expenses on the basis of their separate financial statements. The Income Tax rate as of June 30, 2025 and December 31, 2024, was 29.5 percent, over the taxable income.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (d) The peruvian Tax Authority (henceforth "Superintendencia Nacional de Aduanas y Administración Tributaria" or "SUNAT", by its Spanish acronym) is legally entitled to review, if applicable, modify the income tax for up to four years subsequent to the date at which the tax return regarding a taxable period must be filed.

Following is the detail of the taxable periods subject to inspection by the SUNAT as of June 30, 2025:

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| | |
|:---|:---|
| **Entity** | **Periods subject to review** |
| Interbank | From 2021 to 2024 |
| Interseguro | From 2021 to 2024 |
| Izipay | From 2020 to 2024 |
| Procesos de Medios de Pago | From 2021 to 2024 |

---

Due to the possible interpretations that the SUNAT may have on the legislation in force, it is not possible to determine at this date whether or not the reviews carried out will result in liabilities for the Subsidiaries; therefore, any higher tax or surcharge that may result from possible tax reviews would be applied to the results of the year in which it is determined.

------

In the normal course of its operations, some subsidiaries maintain tax procedures related with activities performed in Peru. Following is the description of the most relevant tax procedures:

Interbank:

- Tax periods from 2000 to 2006:

For these periods, the most relevant matter subject to discrepancy with SUNAT corresponds to whether the "interest in suspense" are subject to Income Tax or not. In this sense, Interbank considers that the interest in suspense does not constitute accrued income, in accordance with the SBS's regulations and IFRS accounting standards, which is also supported by a ruling by the Permanent Constitutional and Social Law Chamber of the Supreme Court issued in August 2009 and a pronouncement in June 2019.

In this context, regarding the Tax Period 2003 review, and after a long claim process in multiple instances, in October 2024, through Resolution of Coactive Collection, SUNAT required Interbank the payment of the liability from the third-category Income Tax corresponding the period 2003 for approximately S/17,800,000 (including taxes, fines and arrears). Although this amount was paid by Interbank in November 2024, the case continues at the Judiciary and the payment made has been recorded as "Tax paid to recover" in the caption "Other accounts receivable and other assets, net"; see Note 8(a).

Regarding Tax Period 2004 review, in May 2025, through Resolution of Coactive Collection, SUNAT required Interbank to pay the tax liability regarding the advance payments of the Income Tax corresponding to the periods March to December 2004, for approximately S/7,000,000 (including fines and arrears). Interbank paid in May 2025; however, the case continues its course at the Judiciary. This payment has been recorded as "Tax paid to recover" in the caption "Other accounts receivable and other assets, net"; see Note 8(a).

Regarding Tax Period 2005 review, in March 2025, through Resolution of Coactive Collection, SUNAT notified the payment of the tax liability for S/11,300,000 (comprising the tax, fines and arrears), Interbank paid in April 2025; however, the process is under way in the Judiciary. This payment has been recorded as "Tax paid to recover" in the caption "Other accounts receivable and other assets, net"; see Note 8(a).

On the other hand, regarding Tax period 2006 review, Interbank was notified with Resolutions of Coactive Collection regarding the Income Tax and the advance payments of the third-category Income Tax for approximately S/3,100,000 and S/28,800,000, respectively. Interbank paid in June 2025; however, the case continues its course at Judiciary. This payment has been recorded as "Tax paid to recover" in the caption "Other accounts receivable and other assets, net"; see Note 8(a).

- Tax period 2010:

In February 2017, SUNAT closed the audit procedure corresponding to the Income Tax for the year 2010. Interbank paid the debt under protest and filed a claim recourse. As of the date of this report, the procedure has been appealed, and it is pending resolution by the Tax Court.

- Tax period 2012:

In July 2020, Interbank was notified of the Determination and Penalty Resolutions corresponding to the audit of the third-category Income Tax for the fiscal year 2012. As of June 30, 2025 and December 31, 2024, the tax debt claimed by the SUNAT amounted to S/14,600,000. As of the date of this report, the process is on appeal, pending resolution by the Tax Court.

- Tax period 2013:

In December 2022, the SUNAT through Resolution of Coactive Collection, notified the payment of the third-category Income Tax debt corresponding to the period 2013, for approximately S/62,000,000 (which includes the tax, fines and interest arrears) Interbank paid in February 2023; however, the process continues before the Judiciary instance. This payment was recorded as "Tax paid to recover", in the caption "Other accounts receivable and other assets, net"; see Note 8(a).

On the other hand, tax audits for periods 2014, 2015, 2017 and 2018 are under appeal, pending resolution by the Tax Court.

- Tax period 2019:

In October 2023 and February 2024, SUNAT notified the beginning of the audit process to Interbank regarding the third-category Income Tax and Transfer Pricing corresponding to the period 2019, respectively. .In May 2025,

------

Interbank was notified with Resolutions of Determination and of Penalties corresponding the Income Tax and advance payments of the third-category Income Tax for the period 2019, for approximately S/5,000,000, Interbank paid and recorded this amount as "Tax paid to recover", in the caption "Other accounts receivable and other assets, net", see Note 8(a).

As of the date of this report, the 2020 tax period is under audit.

In the opinion of Management and its legal advisors, any eventual additional tax payment would not be significant for the financial statements as of June 30, 2025, and December 31, 2024.

Proceso de Medios de Pago:

In December 2024, SUNAT concluded the definite audit procedure of the Income Tax for the period 2020, without material observations.

Izipay:

As of June 30, 2025 and December 31, 2024, Izipay maintains carryforward tax losses amounting to S/82,951,339 and S/70,043,812, respectively. In application of current tax regulations, Management opted for system "B" to offset its tax losses. Through this system, the tax loss may be offset against the net income obtained in the following years, up to 50 percent of said income until they are extinguished; therefore, they do not have an expiration date.

In the opinion of IFS Management, its Subsidiaries and its legal advisors, any eventual additional tax would not be significant for the financial statements as of June 30, 2025 and December 31, 2024.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) IFS's Subsidiaries recognize the period's Income Tax expense using the best estimate of the tax rate. The table below presents the amounts reported in the interim consolidated statements of income:

---

| | | |
|:---|:---|:---|
|  | **For the six-month ended as of June 30,** | **For the six-month ended as of June 30,** |
|  | **2025** | **2024** |
|  | S/(000) | S/(000) |
| Current – Expense | 254903 | 1470 |
| Current – Dividend expense, Note 14(b) | 20602 | 11652 |
| Deferred – (Income) expense | (21528) | 79849 |
|  | 253977 | 92971 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) In 2024, The Bahamas implemented a Qualified Domestic Minimum Top-Up Tax (QDMTT) pursuant to the rules of the global minimum corporate tax rate, published by the Organization for Economic Co-operation and Development ("OECD"). This tax is applicable starting in the period 2025 to multinational groups with consolidated annual revenues of at least €750,000,000, which will be subject to a minimum effective tax rate of 15 percent.

**15. Interest income and expenses, and similar accounts** 

This caption is comprised of the following:

---

| | | |
|:---|:---|:---|
|  | **30.06.2025** | **30.06.2024** |
|  | S/(000) | S/(000) |
| **Interest and similar income** |  |  |
| Interest on loan portfolio | 2510051 | 2579637 |
| Impact from the modification of contractual cash flows due to the loan rescheduling schemes | (702) | 3083 |
| Interest on investments at fair value through other comprehensive income | 598181 | 632451 |
| Interest on due from banks and inter-bank funds | 166490 | 188429 |
| Interest on investments at amortized cost | 114333 | 101087 |
| Dividends on financial instruments | 49700 | 25679 |
| Others | 6725 | 6943 |
| **Total** | 3444778 | 3537309 |
| **Interest and similar expenses** |  |  |
| Interest and fees on deposits and obligations | (639627) | (790059) |
| Interest and fees on obligations with financial institutions | (203010) | (249108) |
| Interest on bonds, notes and other obligations | (201208) | (163683) |
| Insurance contract expense with investment component | (51950) | (38430) |
| Deposit insurance fund fees | (44501) | (41468) |
| Interest on lease payments | (4767) | (3504) |
| Others | (4275) | (4070) |
| **Total** | (1149338) | (1290322) |

---

------

**16. Fee income from financial services, net** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)This caption is comprised of the following:

---

| | | |
|:---|:---|:---|
|  | **30.06.2025** | **30.06.2024** |
|  | S/(000) | S/(000) |
| **Income** |  |  |
| **Performance obligations at a point in time:** |  |  |
| Accounts maintenance, carriage, transfers, and debit and credit card fees | 380716 | 360990 |
| Income from services (acquirer and issuer role) (b) | 364068 | 355682 |
| Banking service fees | 115458 | 99275 |
| Brokerage and custody services | 5368 | 4216 |
| Others | 12757 | 15849 |
| **Performance obligations over time:** |  |  |
| Funds management | 86422 | 74904 |
| Contingent loans fees | 33022 | 33694 |
| Collection services | 25903 | 27267 |
| Others | 16239 | 10107 |
| **Total** | 1039953 | 981984 |
| **Expenses** |  |  |
| Expenses for services (acquirer and issuer role) (b) | (174116) | (163916) |
| Credit cards | (78789) | (100106) |
| Credit card processing commissions | (56766) | (49518) |
| Local banks fees | (36237) | (31985) |
| Digital services fees | (34953) | (22231) |
| Credit life insurance premiums | (32004) | (36050) |
| Foreign banks fees | (13314) | (12402) |
| Others | (18385) | (17812) |
| **Total** | (444564) | (434020) |
| **Net** | 595389 | 547964 |

---

(b) Corresponds to the management and operation of the shared service of transaction processing of credit and debit cards, for clients of Izipay.

------

**17. Other income and (expenses)** 

This caption is comprised of the following:

---

| | | |
|:---|:---|:---|
|  | **30.06.2025** | **30.06.2024** |
|  | S/(000) | S/(000) |
| **Other income** |  |  |
| Gain from sale of written-off-loans | 20010 | 1012 |
| Maintenance, installation and sale of POS equipment | 9497 | 11850 |
| Services rendered to third parties | 3592 | 4294 |
| Participation in investments in associates | 3570 | 2552 |
| Income from ATM rentals | 2668 | 2697 |
| Other technical income from insurance operations | 920 | 2044 |
| Others | 27730 | 25064 |
| **Total other income** | 67987 | 49513 |
| **Other expenses** |  |  |
| Commissions from insurance activities | (29513) | (24948) |
| Administrative and tax penalties | (9087) | (7160) |
| Expenses related to rental income | (7523) | (5103) |
| Sundry technical insurance expenses | (6983) | (6856) |
| Provision for accounts receivable | (4793) | (5639) |
| Provision for sundry risk | (3937) | (9773) |
| Donations | (2206) | (2263) |
| Others | (14582) | (25882) |
| **Total other expenses** | (78624) | (87624) |

---

.

------

**18. Result from insurance activities**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) This caption is comprised of the following:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **30.06.2025** | **30.06.2025** | **30.06.2025** | **30.06.2025** | **30.06.2024** | **30.06.2024** | **30.06.2024** | **30.06.2024** |
|  | **Massive** | **Pensions** | **Life** | **Total** | **Massive** | **Pensions** | **Life** | **Total** |
|  | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) |
| **Insurance service income -** |  |  |  |  |  |  |  |  |
| Contracts measured under BBA and VFA (\*): |  |  |  |  |  |  |  |  |
| CSM recognized for services rendered | 24817 | 2354 | 16973 | 44144 | 31299 | 1800 | 13737 | 46836 |
| Change in Risk adjustment for non-financial risk | 1318 | 7697 | 576 | 9591 | 1175 | (216) | (635) | 324 |
| Insurance service expenses and expected claims incurred | 33641 | 144252 | 46265 | 224158 | 33626 | 139877 | 34362 | 207865 |
| Recovery of cash for insurance acquisition | 2417 | 393 | 6614 | 9424 | 2289 | 230 | 4471 | 6990 |
| Contracts measured under PAA: |  |  |  |  |  |  |  |  |
| Premiums assigned to the period | 121442 | 119866 | 3067 | 244375 | 111169 |  | 1996 | 113165 |
|  | 183635 | 274562 | 73495 | 531692 | 179558 | 141691 | 53931 | 375180 |
| **Insurance service expenses -** |  |  |  |  |  |  |  |  |
| Claims incurred expenses and other expenses | (50424) | (491735) | (65302) | (607461) | (42100) | (405583) | (63893) | (511576) |
| Onerous contract losses and loss reversion | (157) | 2013 | 2645 | 4501 | 5471 | (30486) | 4512 | (20503) |
| Amortization of insurance acquisition cash flows | (79550) | (393) | (6614) | (86557) | (58291) | (230) | (4471) | (62992) |
| Changes to liabilities for incurred claims | (27598) | 223535 | 29928 | 225865 | (36452) | 241882 | 29486 | 234916 |
|  | (157729) | (266580) | (39343) | (463652) | (131372) | (194417) | (34366) | (360155) |
| **Insurance service results** | 25906 | 7982 | 34152 | 68040 | 48186 | (52726) | 19565 | 15025 |
| Reinsurance income | (1638) | (1086) | (5772) | (8496) | (2482) | (1791) | (1578) | (5851) |
| Financial result of insurance operations (b) |  | (285225) | (26017) | (311242) |  | (277221) | (16434) | (293655) |
| **Result from insurance activities (\*\*)** | 24268 | (278329) | 2363 | (251698) | 45704 | (331738) | 1553 | (284481) |

---

(\*) BBA Method (Building Block Approach) and VFA Method (Variable Fee Approach).

(\*\*) Before expenses attributed to the insurance activity that are presented in the caption "Other expenses" in the interim consolidated statement of income, and that correspond to salaries and employee benefits, administrative expenses, depreciation and amortization, and other expenses for S/206,214,000 and S/182,990,000 as of June 30, 2025 and 2024, respectively. See also segment information in Note 21.

------

(b) The composition of the financial result of insurance operations, is as follows:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **30.06.2025** | **30.06.2025** | **30.06.2025** | **30.06.2024** | **30.06.2024** | **30.06.2024** |
|  | **Pensions** | **Life** | **Total** | **Pensions** | **Life** | **Total** |
|  | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) |
| **Financial expenses for issued insurance contracts -** |  |  |  |  |  |  |
| Changes in the obligation to pay the fair value holder of the underlying assets of direct participation agreements due to the investment's return |  | (6515) | (6515) |  | (1015) | (1015) |
| Interest credited | (284996) | (21330) | (306326) | (277270) | (15842) | (293112) |
| Changes in interest rate and other financial hypotheses | (213) | 2196 | 1983 | 49 | 231 | 280 |
| Effect of changes in current estimates and in CSM adjustment rates in relation to the rates used in the initial recognition | (16) | (368) | (384) |  | 192 | 192 |
|  | (285225) | (26017) | (311242) | (277221) | (16434) | (293655) |
| **Financial income from insurance contracts -** |  |  |  |  |  |  |
| Interest credited |  |  |  |  |  |  |
| Effect of changes in interest rates and other financial hypotheses |  |  |  |  |  |  |
| Exchange differences |  |  |  |  |  |  |
| Effect of changes in current estimates and in CSM adjustment rates in relation to the rates used in the initial recognition |  |  |  |  |  |  |
| **Result from insurance activities** | (285225) | (26017) | (311242) | (277221) | (16434) | (293655) |

---

------

**19. Earnings per share** 

The following table presents the calculation of the weighted average number of shares and the basic and diluted earnings per share, determined and calculated based on the earnings attributable to the Group:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Outstanding<br>shares** | **Shares considered in computation** | **Effective days in the period** | **Weighted average number of shares outstanding** |
|  | (in thousands) | (in thousands) |  | (in thousands) |
| **Period 2024** |  |  |  |  |
| Balance as of January 1 | 114480 | 114480 | 180 | 114480 |
| Purchase of treasury stock | (2) | (2) | 11 | (0) |
| **Balance as of June 30, 2024** | 114478 | 114478 |  | 114480 |
| **Net earnings attributable to IFS's shareholders for the period S/(000)** |  |  |  | 424667 |
| **Earnings per share attributable to IFS's shareholders in Soles (basic and diluted)** |  |  |  | 3.710 |
| **Period 2025** |  |  |  |  |
| Balance as of January 1 | 113288 | 113288 | 180 | 113288 |
| Purchase of treasury stock | (1727) | (1727) | 62 | (592) |
| **Balance as of June 30, 2025** | 111561 | 111561 |  | 112696 |
| **Net earnings attributable to IFS's shareholders for the period S/(000)** |  |  |  | 1020752 |
| **Earnings per share attributable to IFS's shareholders in Soles (basic and diluted)** |  |  |  | 9.058 |

---

**20. Transactions with related parties and affiliated entities** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The table below presents the main transactions with related parties and affiliated entities as of June 30, 2025 and December 31, 2024 and for the six-month period ended June 30, 2025 and 2024:

---

| | | |
|:---|:---|:---|
|  | **30.06.2025** | **31.12.2024** |
|  | S/(000) | S/(000) |
| **Assets** |  |  |
| Instruments at fair value through profit or loss | 287 | 819 |
| Investments at fair value through other comprehensive income | 73779 | 72906 |
| Loans, net (b) | 1711642 | 1805083 |
| Accounts receivable | 88873 | 87889 |
| Other assets | 8442 | 11454 |
| **Liabilities** |  |  |
| Deposits and obligations | 784339 | 1084713 |
| Other liabilities | 120947 | 224391 |
| **Off-balance sheet accounts** |  |  |
| Indirect loans (b) | 66003 | 59399 |
|  | **30.06.2025** | **30.06.2024** |
|  | S/(000) | S/(000) |
| **Income (expenses)** |  |  |
| Interest and similar income | 68783 | 59003 |
| Rental income | 15931 | 14313 |
| Interest and similar expenses | (9020) | (16805) |
| Administrative expenses | (18762) | (20545) |
| Loss on sale of investment property | 320 | (3176) |
| Others, net | 29649 | 30139 |

---

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) As of June 30, 2025 and December 31, 2024, the detail of loans is the following:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **30.06.2025** | **30.06.2025** | **30.06.2025** | **31.12.2024** | **31.12.2024** | **31.12.2024** |
|  | **Direct <br>Loans** | **Indirect <br>Loans** | **Total** | **Direct <br>Loans** | **Indirect <br>Loans** | **Total** |
|  | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) |
| Affiliated | 1207637 | 15113 | 1222750 | 1502218 | 3409 | 1505627 |
| Associates | 504005 | 50890 | 554895 | 302865 | 55990 | 358855 |
|  | 1711642 | 66003 | 1777645 | 1805083 | 59399 | 1864482 |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) As of June 30, 2025 and December 31, 2024, the directors, executives and employees of the Group have been involved in credit transactions with certain subsidiaries of the Group, between the permitted limits by Peruvian law for financial entities. As of June 30, 2025 and December 31, 2024, direct loans to employees, directors and executives amounted to S/253,555,000 and S/235,235,000, respectively; said loans are repaid monthly and bear interest at market rates.

There are no loans to the Group's directors and key personnel guaranteed with shares of any Subsidiary.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The Group's key personnel basic remuneration for the six-month period ended June 30, 2025 and 2024, is presented below:

---

| | | |
|:---|:---|:---|
|  | **30.06.2025** | **30.06.2024** |
|  | S/(000) | S/(000) |
| Salaries | 20470 | 19285 |
| Board of Directors' compensations | 2080 | 2004 |
| **Total** | 22550 | 21289 |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) As of June 30, 2025 and December 2024, the Group holds participation in different mutual funds that are managed by its subsidiary Interfondos, which are classified as investments at fair value through profit or loss for S/442,000 and S/2,364,000, respectively.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) In Management's opinion, transactions with related companies have been performed under market conditions and within the limits permitted by the SBS.

**21. Business segments** 

The Chief Operating Decision Maker ("CODM") of IFS is the Chief Executive Officer ("CEO").

The business segments monitor the operating results of their business units separately in order to make decisions on the distribution of resources and performance assessment. The segments' performance is assessed based on operating profit or loss and is measured consistently with operating profit or loss in the consolidated financial statements. Transfer prices between operating segments are on an arm's length basis in a manner similar to transactions with third parties.

------

As of June 30, 2025 and December 31, 2024, the Group presents three operating business segments:

Banking -

Mainly loans, credit facilities, deposits and current accounts.

Insurance -

It provides life annuity products with single-premium payment and conventional life insurance products, as well as other retail insurance products.

Wealth management -

It provides brokerage and investment management services. Inteligo serves mainly Peruvian citizens.

------

The following table presents the Group's financial information by business segments for the six-month period ended June 30, 2025 and 2024:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **30.06.2025** | **30.06.2025** | **30.06.2025** | **30.06.2025** | **30.06.2025** |
|  | **Banking** | **Insurance** | **Wealth<br>management** | **Holding, other subsidiaries and eliminations <br>(\*)** | **Total<br>consolidated** |
|  | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) |
| **Consolidated statement of income data** |  |  |  |  |  |
| Interest and similar income | 2892655 | 479205 | 83688 | (10770) | 3444778 |
| Interest and similar expenses | (1008785) | (93648) | (49112) | 2207 | (1149338) |
| **Net interest and similar income** | 1883870 | 385557 | 34576 | (8563) | 2295440 |
| Loss due to impairment of loans | (651266) |  | (12) |  | (651278) |
| (Loss) recovery due to impairment of financial investments | (213) | (59398) | (151) | 14 | (59748) |
| **Net interest and similar income after impairment loss on loans** | 1232391 | 326159 | 34413 | (8549) | 1584414 |
| Fee income from financial services, net | 425860 | (6391) | 95530 | 80390 | 595389 |
| Net gain (loss) on sale of financial investments | 23634 | 12949 | (1657) |  | 34926 |
| Other income | 280426 | 84463 | 135650 | 113358 | 613897 |
| Result from insurance activities |  | (45475) |  | (9) | (45484) |
| Depreciation and amortization | (150688) | (9812) | (4056) | (48110) | (212666) |
| Other expenses | (934755) | (212400) | (82496) | (85158) | (1314809) |
| **Income before translation result and Income Tax** | 876868 | 149493 | 177384 | 51922 | 1255667 |
| Exchange difference | (398) | 23844 | 2549 | (1979) | 24016 |
| Income Tax | (205588) |  | (25454) | (22935) | (253977) |
| **Net profit for the period** | 670882 | 173337 | 154479 | 27008 | 1025706 |
| **Attributable to:** |  |  |  |  |  |
| IFS's shareholders | 670882 | 173337 | 154479 | 22054 | 1020752 |
| Non-controlling interest |  |  |  | 4954 | 4954 |
|  | 670882 | 173337 | 154479 | 27008 | 1025706 |

---

(\*) Corresponds to financial information of IFS and other subsidiaries, as well as consolidation adjustments and elimination of intercompany transactions.

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **30.06.2024** | **30.06.2024** | **30.06.2024** | **30.06.2024** | **30.06.2024** |
|  | **Banking** | **Insurance** | **Wealth<br>management** | **Holding, other subsidiaries and eliminations (\*)** | **Total<br>consolidated** |
|  | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) |
| **Consolidated statement of income data** |  |  |  |  |  |
| Interest and similar income | 2994774 | 444676 | 92301 | 5558 | 3537309 |
| Interest and similar expenses | (1155595) | (78757) | (54769) | (1201) | (1290322) |
| **Net interest and similar income** | 1839179 | 365919 | 37532 | 4357 | 2246987 |
| Loss on loans, net of recoveries | (1022794) |  | (459) |  | (1023253) |
| Loss due to impairment of financial investments | (1062) | (32829) | (2) | (44) | (33937) |
| **Net interest and similar income after impairment loss on loans** | 815323 | 333090 | 37071 | 4313 | 1189797 |
| Fee income from financial services, net | 370932 | (5087) | 80716 | 101403 | 547964 |
| Net gain (loss) on sale of financial investments | 8241 | (6516) | (2554) |  | (829) |
| Other income | 238860 | 58520 | (1426) | 28849 | 324803 |
| Result from insurance activities |  | (101470) |  | (21) | (101491) |
| Depreciation and amortization | (150600) | (10925) | (4417) | (42263) | (208205) |
| Other expenses | (851708) | (186505) | (71807) | (91106) | (1201126) |
| **Income before translation result and Income Tax** | 431048 | 81107 | 37583 | 1175 | 550913 |
| Exchange difference | 865 | (22389) | (5) | (9088) | (30617) |
| Income Tax | (70872) |  | (5271) | (16828) | (92971) |
| **Net profit (loss) for the period** | 361041 | 58718 | 32307 | (24741) | 427325 |
| **Attributable to:** |  |  |  |  |  |
| IFS's shareholders | 361041 | 58718 | 32307 | (27399) | 424667 |
| Non-controlling interest |  |  |  | 2658 | 2658 |
|  | 361041 | 58718 | 32307 | (24741) | 427325 |

---

(\*) Corresponds to financial information of IFS and other subsidiaries, as well as consolidation adjustments and elimination of intercompany transactions.

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **30.06.2025** | **30.06.2025** | **30.06.2025** | **30.06.2025** | **30.06.2025** |
|  | **Banking** | **Insurance** | **Wealth<br>management** | **Holding, other subsidiaries and eliminations <br>(\*)** | **Total<br>consolidated** |
|  | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) |
| **Capital investments (\*\*)** | 182159 | 39457 | 4205 | 24665 | 250486 |
| **Total assets** | 75664864 | 16631847 | 4580435 | 715184 | 97592330 |
| **Total liabilities** | 66324738 | 15979073 | 3515352 | 281567 | 86100730 |
|  | **31.12.2024** | **31.12.2024** | **31.12.2024** | **31.12.2024** | **31.12.2024** |
|  | **Banking** | **Insurance** | **Wealth<br>management** | **Holding, other subsidiaries and eliminations <br>(\*)** | **Total<br>consolidated** |
|  | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) |
| **Capital investments (\*\*)** | 277836 | 65335 | 5879 | 62815 | 411865 |
| **Total assets** | 73626419 | 16175883 | 4316010 | 1385469 | 95503781 |
| **Total liabilities** | 64753475 | 15618274 | 3271899 | 881538 | 84525186 |

---

(\*) Corresponds to financial information of IFS and other subsidiaries, as well as consolidation adjustments and elimination of intercompany transactions.

(\*\*) It includes the purchase of property, furniture and equipment, intangible assets and investment properties.

The distribution of the Group's total income based on the location of the customer and its assets for the six-month period ended June 30, 2025, is S/5,384,403,000 in Peru and S/280,844,000 in Panama (for the semester ended June 30, 2024, was S/5,073,245,000 in Peru and S/145,202,000 in Panama). The distribution of the Group's total assets based on the location of the customer and its assets as of June 30, 2025 is S/93,140,040,000 in Peru and S/4,452,290,000 in Panama (for the year ended December 31, 2024, was S/91,323,869,000 in Peru and S/4,179,912,000 in Panama).

------

**22. Financial instruments classification** 

The financial assets and liabilities of the consolidated statement of financial position as of June 30, 2025 and December 31, 2024, are presented below.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **As of June 30, 2025** | **As of June 30, 2025** | **As of June 30, 2025** | **As of June 30, 2025** | **As of June 30, 2025** |
|  | **At fair value through profit or loss** | **Debt instruments measured at fair value through other comprehensive income** | **Equity instruments measured at fair value through other comprehensive income** | **Amortized cost** | **Total** |
|  | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) |
| **Financial assets** |  |  |  |  |  |
| Cash and due from banks |  |  |  | 13121263 | 13121263 |
| Inter-bank funds |  |  |  | 53136 | 53136 |
| Financial investments | 1958727 | 21295297 | 512131 | 3981280 | 27747435 |
| Loans, net |  |  |  | 50415084 | 50415084 |
| Due from customers on acceptances |  |  |  | 4967 | 4967 |
| Other accounts receivable and other assets, net | 187169 |  |  | 1145799 | 1332968 |
| Reinsurance contracts assets |  |  |  | 56071 | 56071 |
|  | 2145896 | 21295297 | 512131 | 68777600 | 92730924 |
| **Financial liabilities** |  |  |  |  |  |
| Deposits and obligations |  |  |  | 54755203 | 54755203 |
| Inter-bank funds |  |  |  | 257333 | 257333 |
| Due to banks and correspondents |  |  |  | 7335104 | 7335104 |
| Bonds, notes and other obligations |  |  |  | 6992675 | 6992675 |
| Due from customers on acceptances |  |  |  | 4967 | 4967 |
| Insurance and reinsurance contract liabilities |  |  |  | 12522638 | 12522638 |
| Other accounts payable, provisions and other liabilities | 183436 |  |  | 3685751 | 3869187 |
|  | 183436 |  |  | 85553671 | 85737107 |

---

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **As of December 31, 2024** | **As of December 31, 2024** | **As of December 31, 2024** | **As of December 31, 2024** | **As of December 31, 2024** |
|  | **At fair value through profit or loss** | **Debt instruments measured at fair value through other comprehensive income** | **Equity instruments measured at fair value through other comprehensive income** | **Amortized cost** | **Total** |
|  | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) |
| **Financial assets** |  |  |  |  |  |
| Cash and due from banks |  |  |  | 12615226 | 12615226 |
| Inter-bank funds |  |  |  | 220060 | 220060 |
| Financial investments | 1776567 | 20724892 | 458268 | 3898198 | 26857925 |
| Loans, net |  |  |  | 49229448 | 49229448 |
| Due from customers on acceptances |  |  |  | 9163 | 9163 |
| Other accounts receivable and other assets, net | 143201 |  |  | 1588600 | 1731801 |
| Reinsurance contracts assets |  |  |  | 18602 | 18602 |
|  | 1919768 | 20724892 | 458268 | 67579297 | 90682225 |
| **Financial liabilities** |  |  |  |  |  |
| Deposits and obligations |  |  |  | 53768028 | 53768028 |
| Due to banks and correspondents |  |  |  | 7562057 | 7562057 |
| Bonds, notes and other obligations |  |  |  | 6075433 | 6075433 |
| Due from customers on acceptances |  |  |  | 9163 | 9163 |
| Insurance and reinsurance contract liabilities |  |  |  | 12524320 | 12524320 |
| Other accounts payable, provisions and other liabilities | 163441 |  |  | 4024513 | 4187954 |
|  | 163441 |  |  | 83963514 | 84126955 |

---

**23. Financial risk management** 

It comprises the management of the main risks, that due to the nature of their operations, IFS and its Subsidiaries are exposed to; and correspond to: credit risk, market risk, liquidity risk, insurance risk and real estate risk.

To manage the risks detailed above, every Subsidiary of the Group has a specialized structure and organization in their management, measurement systems, as well as mitigation and coverage processes, according to specific regulatory needs and requirements for the development of its business. The Group and its Subsidiaries, mainly Interbank, Interseguro, Inteligo Bank and Izipay, operate independently but in coordination with the general provisions issued by the Board of Directors and Management of IFS. The Board of Directors and Management of IFS are ultimately responsible for identifying and controlling risks. The Company has an Audit Committee comprised of three independent directors, pursuant to Rule 10A-3 of the Securities Exchange Act of the United States; and one of them is a financial expert according to the regulations of the New York Stock Exchange. The Audit Committee is appointed by the Board of Directors and its main purpose is to monitor and supervise the preparation processes of financial and accounting information, as well as the audits over the financial statements of IFS and its Subsidiaries. Also, the Company has an Internal Audit Division which is responsible for monitoring the key processes and controls to ensure an adequate low risk control according to the standards defined in the Sarbanes Oxley Act.

A full description of the Group's financial risk management is presented in Note 29 "Financial risk management" of the Annual Consolidated Financial Statements; following is presented the financial information related to credit risk management for the loan portfolio, offsetting of financial assets and liabilities, and foreign exchange risk.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Credit risk management for loans -

Interbank's loan portfolio is segmented into homogeneous groups that shared similar credit risk characteristics. These groups are: (i) Retail Banking (credit card, mortgage, payroll loan, consumer loan and vehicular loan), (ii) Small Business Banking (segments S1, S2 and S3), and (iii) Commercial Banking (corporate, institutional, companies and real estate). In addition, at Inteligo Bank, the internal model developed (scorecard) assigns 5 levels of credit risk classified as follows: low risk, medium low risk, medium risk, medium high risk, and high risk. These categories are described in Note 29.1(d) of the audited Annual Consolidated Financial Statements.

------

Additionally, Interbank monitors constantly the occurrence or not of certain events thar might affect the behavior and performance of the expected credit losses of its clients. Therefore, certain subsequent adjustments to the expected loss model are recorded to be able to capture the effects of the current situation, which has generated a high level of uncertainty in the estimation of the loans' expected loss.

In compliance with the policy of monitoring the Group's credit risk, during 2024 Interbank performed the recalibration process of its risk parameters for the calculation of the expected credit losses.

The Group structures the levels of credit risk it undertakes by placing limits on the amount of risk accepted in relation to one borrower or groups of borrowers, geographical and industry segments. Said risks are monitored on a revolving basis and subject to continuous review.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Offsetting of financial assets and liabilities -

The information contained in the tables below includes financial assets and liabilities that:

- Are offset in the statement of financial position of the Group; or

- Are subject to an enforceable master netting arrangement or similar agreement that covers similar financial instruments, regardless of whether they are offset in the interim consolidated statement of financial position or not.

Similar arrangements of the Group include derivatives clearing agreements. Financial instruments such as loans and deposits are not disclosed in the following tables since they are not offset in the interim consolidated statement of financial position.

The offsetting framework agreement issued by the International Swaps and Derivatives Association Inc. ("ISDA") and similar master netting arrangements do not meet the criteria for offsetting in the statement of financial position, because of such agreements were created in order for both parties to have an enforceable offsetting right in cases of default, insolvency or bankruptcy of the Group or the counterparties or following other predetermined events. In addition, the Group and its counterparties do not intend to settle such instruments on a net basis or to realize the assets and settle the liabilities simultaneously.

The Group receives and delivers guarantees in the form of cash with respect to transactions with derivatives; see Note 4.

(b.1) Financial assets subject to offsetting, enforceable master netting arrangements and similar agreements as of June 30, 2025 and December 31, 2024, are presented below:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  |  |  |  | **Related amounts not offset in the consolidated statement of financial position** | **Related amounts not offset in the consolidated statement of financial position** |  |
|  | **Gross amounts of recognized financial assets** | **Gross amounts of recognized financial liabilities and offset in the consolidated statement of financial position** | **Net amounts of financial assets presented in the consolidated statement of financial position** | **Financial instruments (including non-cash guarantees)** | **Cash guarantees received** | **Net amount** |
|  | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) |
| **As of June 30, 2025** |  |  |  |  |  |  |
| Derivatives, Note 8(b) | 187169 |  | 187169 | (56936) | (50422) | 79811 |
| **Total** | **187169** |  | **187169** | **(56936)** | **(50422)** | **79811** |
| **As of December 31, 2024** |  |  |  |  |  |  |
| Derivatives, Note 8(b) | 143201 |  | 143201 | (30231) | (35645) | 77325 |
| **Total** | **143201** |  | **143201** | **(30231)** | **(35645)** | **77325** |

---

------

(b.2) Financial liabilities subject to offsetting, enforceable master netting arrangements and similar agreements as of June 30, 2025 and December 31, 2024, are presented below:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  |  |  |  | **Related amounts not offset in the consolidated statement of financial position** | **Related amounts not offset in the consolidated statement of financial position** |  |
|  | **Gross amounts of recognized financial liabilities** | **Gross amounts of recognized financial assets and offset in the consolidated statement of financial position** | **Net amounts of financial liabilities presented in the consolidated statement of financial position** | **Financial instruments (including non-cash guarantees)** | **Cash guarantees pledged, Note 4(d)** | **Net amount** |
|  | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) |
| **As of June 30, 2025** |  |  |  |  |  |  |
| Derivatives, Note 8(b) | 171908 |  | 171908 | (56936) | (21925) | 93047 |
| **Total** | **171908** |  | **171908** | **(56936)** | **(21925)** | **93047** |
| **As of December 31, 2024** |  |  |  |  |  |  |
| Derivatives, Note 8(b) | 102288 |  | 102288 | (30231) | (21568) | 50489 |
| **Total** | **102288** |  | **102288** | **(30231)** | **(21568)** | **50489** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Foreign exchange risk -

The Group is exposed to fluctuations in the exchange rates of the foreign currency prevailing in its financial position and cash flows. Management sets limits on the levels of exposure by currency and total daily and overnight positions, which are monitored daily. Most of the assets and liabilities in foreign currency are stated in US Dollars. Transactions in foreign currency are made at the exchange rates of free market.

As of June 30, 2025, the weighted average exchange rate of free market published by the SBS for transactions in US Dollars was S/3.534 per US$1 bid and S/3.549 per US$1 ask (S/3.758 and S/3.770 as of December 31, 2024, respectively). As of June 30, 2025, the exchange rate for the accounting of asset and liability accounts in foreign currency set by the SBS was S/3.542 per US$1 (S/3.764 as of December 31, 2024).

------

The table below presents the detail of the Group's position:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **As of June 30, 2025** | **As of June 30, 2025** | **As of June 30, 2025** | **As of June 30, 2025** |
|  | **US Dollars** | **Soles** | **Other<br>currencies** | **Total** |
|  | S/(000) | S/(000) | S/(000) | S/(000) |
| **Assets** |  |  |  |  |
| Cash and due from banks | 10674649 | 2088782 | 357832 | 13121263 |
| Inter-bank funds | 53136 |  |  | 53136 |
| Financial investments | 7626547 | 20077701 | 43187 | 27747435 |
| Loans, net | 14665466 | 35737990 | 11628 | 50415084 |
| Due from customers on acceptances | 4967 |  |  | 4967 |
| Other accounts receivable and other assets, net | 300698 | 1032247 | 23 | 1332968 |
| Reinsurance contract assets | 810 | 55261 |  | 56071 |
|  | 33326273 | 58991981 | 412670 | 92730924 |
| **Liabilities** |  |  |  |  |
| Deposits and obligations | 20164368 | 34025393 | 565442 | 54755203 |
| Inter-bank funds |  | 257333 |  | 257333 |
| Due to banks and correspondents | 1107099 | 6228005 |  | 7335104 |
| Bonds, notes and other obligations | 6134022 | 858653 |  | 6992675 |
| Due from customers on acceptances | 4967 |  |  | 4967 |
| Insurance and reinsurance contract liabilities | 3724606 | 8798032 |  | 12522638 |
| Other accounts payable, provisions and other liabilities | 1558454 | 2305534 | 5199 | 3869187 |
|  | 32693516 | 52472950 | 570641 | 85737107 |
| Forwards position, net | (2366851) | 2186963 | 179888 |  |
| Currency swaps position, net | 1542741 | (1542741) |  |  |
| Cross currency swaps position, net | 709800 | (709800) |  |  |
| Options position, net | (271) | 271 |  |  |
| **Monetary position, net** | 518176 | 6453724 | 21917 | 6993817 |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **As of December 31, 2024** | **As of December 31, 2024** | **As of December 31, 2024** | **As of December 31, 2024** |
|  | **US Dollars** | **Soles** | **Other<br>currencies** | **Total** |
|  | S/(000) | S/(000) | S/(000) | S/(000) |
| **Assets** |  |  |  |  |
| Cash and due from banks | 8615546 | 3676441 | 323239 | 12615226 |
| Inter-bank funds |  | 220060 |  | 220060 |
| Financial investments | 7456057 | 19356325 | 45543 | 26857925 |
| Loans, net | 14372955 | 34848570 | 7923 | 49229448 |
| Due from customers on acceptances | 9163 |  |  | 9163 |
| Other accounts receivable and other assets, net | 405658 | 1326121 | 22 | 1731801 |
| Reinsurance contract assets | 207 | 18395 |  | 18602 |
|  | 30859586 | 59445912 | 376727 | 90682225 |
| **Liabilities** |  |  |  |  |
| Deposits and obligations | 19802404 | 33451094 | 514530 | 53768028 |
| Due to banks and correspondents | 2210040 | 5352017 |  | 7562057 |
| Bonds, notes and other obligations | 5227805 | 847628 |  | 6075433 |
| Due from customers on acceptances | 9163 |  |  | 9163 |
| Insurance and reinsurance contract liabilities | 3940738 | 8583582 |  | 12524320 |
| Other accounts payable, provisions and other liabilities | 1689640 | 2484247 | 14067 | 4187954 |
|  | 32879790 | 50718568 | 528597 | 84126955 |
| Forwards position, net | (1842468) | 1564150 | 278318 |  |
| Currency swaps position, net | 1849472 | (1849472) |  |  |
| Cross currency swaps position, net | 2071400 | (2071400) |  |  |
| Options position, net | (61) | 61 |  |  |
| **Monetary position, net** | 58139 | 6370683 | 126448 | 6555270 |

---

As of June 30, 2025, the Group granted indirect loans (contingent operations) in foreign currency for approximately US$970,021,000, equivalent to S/3,435,815,000 (US$770,827,000, equivalent to S/2,901,393,000 as of December 31, 2024).

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**24. Fair value** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Financial instruments measured at their fair value and fair value hierarchy -

The following table presents an analysis of the financial instruments that are measured at their fair value, including the level of hierarchy of fair value. The amounts are based on the balances presented in the consolidated statement of financial position:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **As of June 30, 2025** | **As of June 30, 2025** | **As of June 30, 2025** | **As of June 30, 2025** |
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Financial assets** | S/(000) | S/(000) | S/(000) | S/(000) |
| **Financial investments** |  |  |  |  |
| At fair value through profit or loss (\*) | 316263 | 552199 | 1090265 | 1958727 |
| Debt instruments measured at fair value through other comprehensive income | 13320017 | 7643104 |  | 20963121 |
| Equity instruments measured at fair value through other comprehensive income | 461712 | 14998 | 35421 | 512131 |
| Derivatives receivable |  | 187169 |  | 187169 |
|  | 14097992 | 8397470 | 1125686 | 23621148 |
| Accrued interest |  |  |  | 332176 |
| **Total financial assets** |  |  |  | 23953324 |
| **Financial liabilities** |  |  |  |  |
| Derivatives payable |  | 171908 |  | 171908 |
| Liabilities at fair value through profit or loss | 11528 |  |  | 11528 |
| **Total financial liabilities** | 11528 | 171908 |  | 183436 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **As of December 31, 2024** | **As of December 31, 2024** | **As of December 31, 2024** | **As of December 31, 2024** |
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Financial assets** | S/(000) | S/(000) | S/(000) | S/(000) |
| **Financial investments** |  |  |  |  |
| At fair value through profit or loss (\*) | 304659 | 459767 | 1012141 | 1776567 |
| Debt instruments measured at fair value through other comprehensive income | 12722114 | 7655691 |  | 20377805 |
| Equity instruments measured at fair value through other comprehensive income | 406778 | 13850 | 37640 | 458268 |
| Derivatives receivable |  | 143201 |  | 143201 |
|  | 13433551 | 8272509 | 1049781 | 22755841 |
| Accrued interest |  |  |  |  |
| **Total financial assets** |  |  |  | 22755841 |
| **Financial liabilities** |  |  |  |  |
| Derivatives payable |  | 102288 |  | 102288 |
| Liabilities at fair value through profit or loss | 61153 |  |  | 61153 |
| **Total financial liabilities** | 61153 | 102288 |  | 163441 |

---

(\*) As of June 30, 2025 and December 31, 2024, correspond mainly to participation in mutual funds and investment funds and shares.

Financial assets included in Level 1 are those measured on the basis of information that is available on the market, to the extent that their quoted prices reflect an active and liquid market and that are available in some centralized trading mechanism, trading agent, price supplier or regulatory entity.

Financial instruments included in Level 2 are valued based on the market prices of other instruments with similar characteristics or with financial valuation models based on information of variables observable in the market (interest rate curves, price vectors, etc.).

Financial assets included in Level 3 are valued by using assumptions and data that do not correspond to prices of operations traded on the market. The valuation requires Management to make certain assumptions about the model variables and data, including the forecast of cash flow, discount rate, credit risk and volatility.

During 2025, there were transfers from Level 1 to Level 2. During 2024, there were transfers of certain financial instruments from Level 1 to Level 2, for an amount of S/7,995,000, because they stopped being actively traded during the year, and consequently, fair values were obtained by using observable market data. Likewise, during 2025 there were no transfers from level 2 to 1. During 2024, there were transfers of certain financial instruments from Level 2 to Level 1 for an amount of S/40,070,000. During 2025 and 2024, there were no transfers of financial instruments to or from level 3 to level 1 or level 2.

------

The table below includes a reconciliation of fair value measurement of financial instruments classified by the Group within Level 3 of the valuation hierarchy:

---

| | | |
|:---|:---|:---|
|  | **30.06.2025** | **31.12.2024** |
|  | S/(000) | S/(000) |
| **Initial balance as of January 1** | 1049781 | 919866 |
| Purchases | 51277 | 81369 |
| Sales | (61555) | (78231) |
| Gain recognized on the interim consolidated statement of income | 86183 | 126777 |
| **Ending balance** | 1125686 | 1049781 |

---

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Financial instruments not measured at their fair value -

The table below presents the disclosure of the comparison between the carrying amounts and fair values of the Group's financial instruments that are not measured at their fair value, presented by level of fair value hierarchy:

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| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **As of June 30, 2025** | **As of June 30, 2025** | **As of June 30, 2025** | **As of June 30, 2025** | **As of June 30, 2025** | **As of December 31, 2024** | **As of December 31, 2024** | **As of December 31, 2024** | **As of December 31, 2024** | **As of December 31, 2024** |
|  | **Level 1** | **Level 2** | **Level 3** | **Fair<br>value** | **Book<br>value** | **Level 1** | **Level 2** | **Level 3** | **Fair<br>value** | **Book<br>value** |
|  | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) | S/(000) |
| **Assets** |  |  |  |  |  |  |  |  |  |  |
| Cash and due from banks | 13121263 |  |  | 13121263 | 13121263 | 12615226 |  |  | 12615226 | 12615226 |
| Inter-bank funds |  | 53136 |  | 53136 | 53136 |  | 220060 |  | 220060 | 220060 |
| Investments at amortized cost | 3914747 | 137227 |  | 4051974 | 3981280 | 3775935 | 98658 |  | 3874593 | 3898198 |
| Loans, net |  | 50084729 |  | 50084729 | 50415084 |  | 48333964 |  | 48333964 | 49229448 |
| Due from customers on acceptances |  | 4967 |  | 4967 | 4967 |  | 9163 |  | 9163 | 9163 |
| Other accounts receivable and other assets, net |  | 1145799 |  | 1145799 | 1145799 |  | 1588600 |  | 1588600 | 1588600 |
| Reinsurance contract assets |  | 56071 |  | 56071 | 56071 |  | 18602 |  | 18602 | 18602 |
| **Total** | 17036010 | 51481929 |  | 68517939 | 68777600 | 16391161 | 50269047 |  | 66660208 | 67579297 |
| **Liabilities** |  |  |  |  |  |  |  |  |  |  |
| Deposits and obligations |  | 54758522 |  | 54758522 | 54755203 |  | 53770487 |  | 53770487 | 53768028 |
| Inter-bank funds |  | 257333 |  | 257333 | 257333 |  |  |  |  |  |
| Due to banks and correspondents |  | 7371563 |  | 7371563 | 7335104 |  | 7706223 |  | 7706223 | 7562057 |
| Bonds, notes and other obligations | 6120186 | 895111 |  | 7015297 | 6992675 | 5163150 | 838662 |  | 6001812 | 6075433 |
| Due from customers on acceptances |  | 4967 |  | 4967 | 4967 |  | 9163 |  | 9163 | 9163 |
| Insurance and reinsurance contract liabilities |  | 12522638 |  | 12522638 | 12522638 |  | 12524320 |  | 12524320 | 12524320 |
| Other accounts payable and other liabilities |  | 3685751 |  | 3685751 | 3685751 |  | 4024513 |  | 4024513 | 4024513 |
| **Total** | 6120186 | 79495885 |  | 85616071 | 85553671 | 5163150 | 78873368 |  | 84036518 | 83963514 |

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The methodologies and assumptions used to determine fair values depend on the terms and risk characteristics of each financial instrument and they include the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Long-term fixed-rate and variable-rate loans are assessed by the Group based on parameters such as interest rates, specific country risk factors, individual creditworthiness of the customer and the risk characteristics of the financed project. Based on this evaluation, allowances are taken into account for the estimated losses of these loans. As of June 30, 2025 and December 31, 2024, the book value of loans, net of allowances, was not significantly different from the calculated fair values.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Instruments whose fair value approximates their book value: For financial assets and financial liabilities that are liquid or have short-term maturity (less than 3 months) it is assumed that the carrying amounts approximate to their fair values. This assumption is also applied to demand deposits, savings accounts without a specific maturity and variable-rate financial instruments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) Fixed-rate financial instruments: The fair value of fixed-rate financial assets and financial liabilities at amortized cost is determined by comparing market interest rates when they were first recognized with current market rates related to similar financial instruments for their remaining term to maturity. The fair value of fixed interest rate deposits is based on discounted cash flows using market interest rates for financial instruments with similar credit risk and maturity. For quoted debt issued, the fair value is determined based on quoted market prices. When quotations are not available, a discounted cash flow model is used based on the yield curve of the appropriate interest rate for the remaining term to maturity.

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**25. Fiduciary activities and management of funds** 

The Group provides custody, trustee, investment management and advisory services to third parties; therefore, the Group makes purchase and sale decisions in relation to a wide range of financial instruments. Assets that are held as trust are not included in these interim consolidated financial statements. These services give rise to the risk that the Group could eventually be held responsible of poor yielding of the assets under its management.

As of June 30, 2025 and December 31, 2024, the value of the managed off-balance sheet financial assets is as follows:

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| | | |
|:---|:---|:---|
|  | **30.06.2025** | **31.12.2024** |
|  | S/(000) | S/(000) |
| Investment funds | 18842749 | 19534337 |
| Mutual funds | 8663250 | 7926478 |
| **Total** | 27505999 | 27460815 |

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