Intercorp Financial Services (NYSE: IFS) profit surges 49% with ROE at 16.8%

Rhea-AI Filing Summary

Intercorp Financial Services Inc. (IFS) delivered record 2025 results with sharply higher profitability. Net profit reached S/ 1,943.2 million, up 48.6% year over year, driven mainly by a S/ 583.5 million reduction in loan provisions and strong growth in other income and fees. Return on equity improved to 16.8% (18.5% excluding the Rutas de Lima impairment), showing better use of shareholders’ capital.

Across segments, Interbank earned S/ 1,475 million (+46.4% YoY), Interseguro S/ 274.5 million (+36.0%), and Inteligo S/ 231.1 million (+68.3%). Asset quality strengthened as cost of risk fell to 2.3% and the Stage 3 NPL ratio to 2.3%. Capital remained solid, with a total capital ratio of 16.0% and CET1 of 12.5%, comfortably above regulatory requirements.

Positive

• Record 2025 profitability with broad-based growth: Net profit rose 48.6% year over year to S/ 1,943.2 million, with ROE improving to 16.8% and all three core segments (banking, insurance, wealth management) delivering strong earnings increases.
• Improved asset quality and stronger capital: Cost of risk fell to 2.3%, the Stage 3 NPL ratio declined to 2.3%, and the total capital ratio reached 16.0% with CET1 at 12.5%, comfortably above regulatory requirements.

Negative

• None.

Insights

Banking and financial services analyst

IFS posted record earnings with broad-based growth, lower credit costs, and strong capital, despite notable investment impairments.

IFS achieved S/ 1,943.2 million net profit in 2025, up 48.6% year over year, as provisions fell S/ 583.5 million and all major revenue lines expanded. Group ROE rose to 16.8%, with subsidiaries Interbank, Interseguro, and Inteligo each showing double‑digit profit growth.

Credit quality trends were favorable. Cost of risk declined to 2.3%, and Stage 3 NPLs edged down to 2.3%, helped by disciplined higher‑yielding retail lending and solid commercial repayments. At the same time, the banking arm’s funding mix improved, with deposits rising and the average cost of funding falling to 3.0%.

Capitalization remains a key strength. The total capital ratio of 16.0% and CET1 of 12.5% exceed the 13.6% regulatory requirement including buffers, providing room to absorb shocks. A risk factor is concentration in names like Rutas de Lima, which drove S/ 216.3 million in investment impairments; about 80% of that exposure is now provisioned, leaving roughly S/ 74 million net. Future filings will clarify how remaining impairments and rising operating expenses affect profitability.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

Form 6-K

REPORT OF FOREIGN PRIVATE ISSUER

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

SECURITIES EXCHANGE ACT OF 1934

February 11, 2025

Commission File Number 001-38965

INTERCORP FINANCIAL SERVICES INC.

(Registrant’s name)

Intercorp Financial Services Inc.

Torre Interbank, Av. Carlos Villarán 140

La Victoria

Lima 13, Peru

(51) (1) 615-9011

(Address of principal executive offices)

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): ☐

On February 5, 2025, Intercorp Financial Services Inc. (“IFS”) announced its unaudited results for the fourth quarter of 2024, which were approved by the Board on February 5, 2025. IFS’ condensed consolidated unaudited results as of December 31, 2024 and December 31, 2023, and the corresponding Management Discussion and Analysis are attached hereto.

EXHIBIT INDEX

Exhibit		Description
99.1		Intercorp Financial Services Inc. Fourth Quarter 2024 Earnings

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.

		INTERCORP FINANCIAL SERVICES INC.
Date: February 5, 2025		By:	/s/ Michela Casassa Ramat
		Name:	Michela Casassa Ramat
		Title:	Chief Financial Officer

Exhibit 99.1

Intercorp Financial Services Inc.

Fourth Quarter 2025 Earnings

Lima, Peru, February 11, 2026. Intercorp Financial Services Inc. (Lima Stock Exchange/NYSE: IFS) announced today its unaudited results for the fourth quarter 2025. These results are reported on a consolidated basis under IFRS in nominal Peruvian soles.

Intercorp Financial Services: Solid performance across businesses

• +49% YoY earnings drive ROE to 16.8%

• Net profit at s/ 1,943 million for FY2025

Banking: Higher- yielding loans continue positive trend

• Higher-yielding loans grew 8% YoY

• Risk adjusted NIM improving to 3.7%

• Cost of risk at 2.3% and cost of funds at 3.1% for FY25

• We continue to strengthen primary banking relationships

Insurance: delivering solid double.digit growth

• Market leader in regulated annuities with ~ 30% share in 2025

• Written premiums incresed by 61% in the last quarter

Wealth Management: Continues to deliver double-digit growth

• Continued growth in AUM: 14% YoY

• Sequential recovery of fee income continues

Intercorp Financial Services

SUMMARY

2025 Performance

Intercorp Financial Services’ net profit was S/ 1,943.2 million in 2025, an increase of S/ 635.7 million YoY or 48.6%. As a result IFS’s annualized ROE was 16.8%, and 18.5% excluding Rutas de Lima impairment.

This year has been positive for IFS, achieving the highest net income in our history. It also marks a significant recovery, with solid growth across all revenue lines. These results reinforce the resilience of our diversified business model and our strong commitment to sustainable value creation for investors.

Profits increased S/ 635.7 million YoY, or 48.6%, mainly explained by a reduction of S/ 583.5 million in provision expenses, as well as increases of S/ 406.3 million in other income, S/ 80.3 million in net interest and similar income and S/ 76.7 million in fee income from financial services. These effects where partially offset by increases of S/ 263.0 million in other expenses, of S/ 216.3 million in impairments from financial investments and of S/ 215.9 million in income tax.

Intercorp Financial Services’ P&L statement

S/ million		2024				2025				%chg 25/24
Interest and similar income			7,029.4				6,888.4				-2.0	%
Interest and similar expenses			(2,480.3	)			(2,259.0	)			-8.9	%
Net interest and similar income			4,549.1				4,629.4				1.8	%
Impairment loss on loans, net of recoveries			(1,720.2	)			(1,136.7	)			-33.9	%
Recovery (loss) due to impairment of financial investments			(47.5	)			(263.8	)		n.m.
Net interest and similar income after impairment loss			2,781.4				3,228.9				16.1	%
Fee income from financial services, net			1,142.9				1,219.6				6.7	%
Other income			791.6				1,197.9				51.3	%
Insurance results			(169.8	)			(47.8	)			-71.9	%
Other expenses			(2,900.2	)			(3,163.2	)			9.1	%
Income before translation result and income tax			1,646.0				2,435.5				48.0	%
Translation result			(24.1	)			38.0			n.m.
Income tax			(314.4	)			(530.3	)			68.7	%
Profit for the period			1,307.5				1,943.2				48.6	%
Attributable to IFS' shareholders			1,300.1				1,932.5				48.6	%
EPS			9.33				16.83
ROE			12.6	%			16.8	%
ROA			1.4	%			2.0	%
Efficiency ratio			37.4	%			36.8	%

The reduction in provision expenses was mainly explained by our disciplined approach to higher yielding loans, which represents 21.9% of the total loan book, along with the continued strong payment performance of our clients. As a result, cost of risk for 2025 stood at 2.3%.

The increase of S/ 406.3 million in other income was explained by better results across all subsidiaries. First, the insurance business showed an increase of S/ 150.8 million, mostly explained by a higher valuation on properties. Second, our wealth management business showed an increase of S/ 77.2 million, due to higher valuation on equity positions tech related. Finally, our banking subsidiary showed an increase of S/ 106.7 million, explained by higher valuation of sovereign bonds, as well as increases from FX transactions.

The increase of fee income is mostly due to higher commissions from our banking subsidiary of S/ 92.8 million, related to higher transactionality and credit card usage; as well as an increase of S/ 25.0 million in our wealth management business, which is directly related to the double-digit growth in assets under management.

The increase of S/ 263.0 million in other expenses was explained by an increase of S/ 192.1 million in our banking business, mostly related to higher technology expenses and employee salaries; and an increase of S/ 44.9 million in our insurance business.

The S/ 216.3 million increase in impairments from financial investments is related to the exposure to Rutas de Lima (RdL) in our insurance company.

Finally, the S/ 215.9 million increase in income tax is related to the recovery of revenues in 2025; which showed an increase of 12.6% YoY.

Intercorp Financial Services’ Statement of financial position

S/ million		4Q24				3Q25				4Q25				%chg 4Q25/ 3Q25				%chg 4Q25/ 4Q24
Cash and due from banks and inter-bank funds			12,835.3				12,734.6				14,076.0				10.5	%			9.7	%
Financial investments			26,857.9				27,619.7				28,173.8				2.0	%			4.9	%
Loans, net of unearned interest			50,959.6				52,113.4				52,361.2				0.5	%			2.8	%
Impairment allowance for loans			(1,730.2	)			(1,666.3	)			(1,591.0	)			-4.5	%			-8.0	%
Property, furniture and equipment, net			814.4				858.1				967.3				12.7	%			18.8	%
Other assets			5,766.7				5,467.9				5,110.2				-6.5	%			-11.4	%
Total assets			95,503.8				97,127.5				99,097.4				2.0	%			3.8	%
Liabilities and equity
Deposits and obligations			53,768.0				53,610.3				56,027.6				4.5	%			4.2	%
Due to banks and correspondents and inter-bank funds			7,562.1				7,997.1				7,221.0				-9.7	%			-4.5	%
Bonds, notes and other obligations			6,075.4				5,887.5				5,590.4				-5.0	%			-8.0	%
Insurance contract liabilities			12,524.3				12,933.5				13,063.3				1.0	%			4.3	%
Other liabilities			4,595.3				4,748.0				4,773.3				0.5	%			3.9	%
Total liabilities			84,525.2				85,176.4				86,675.6				1.8	%			2.5	%
Equity, net
Equity attributable to IFS' shareholders			10,915.2				11,881.2				12,348.6				3.9	%			13.1	%
Non-controlling interest			63.4				69.9				73.3				4.8	%			15.6	%
Total equity, net			10,978.6				11,951.1				12,421.8				3.9	%			13.1	%

4Q24 Performance

Intercorp Financial Services’ net profit was S/ 461.3 million in 4Q25, an increase of S/ 5.1 million QoQ and a decrease of S/ 28.8 million YoY. IFS’s annualized ROE was 15.1% in 4Q25, and 19.1% excluding Rutas de Lima impairment.

Intercorp Financial Services’ P&L statementu

S/ million		4Q24				3Q25				4Q25				%chg QoQ				%chg YoY
Interest and similar income			1,726.5				1,724.4				1,719.2				(0.3	)%			(0.4	)%
Interest and similar expenses			(575.4	)			(567.4	)			(542.2	)			(4.4	)%			(5.8	)%
Net interest and similar income			1,151.1				1,157.0				1,177.0				1.7	%			2.3	%
Impairment loss on loans, net of recoveries			(319.7	)			(256.9	)			(228.6	)			(11.0	)%			(28.5	)%
Recovery (loss) due to impairment of financial investments			(4.6	)			(77.1	)			(127.0	)			64.7	%		n.m.
Net interest and similar income after impairment loss			826.8				823.0				821.5				(0.2	)%			(0.6	)%
Fee income from financial services, net			299.9				311.1				313.2				0.7	%			4.4	%
Other income			283.3				245.5				303.5				23.6	%			7.2	%
Insurance results			(30.2	)			(1.2	)			(1.1	)			(2.8	)%			(96.2	)%
Other expenses			(747.2	)			(810.0	)			(825.7	)			1.9	%			10.5	%
Income before translation result and income tax			632.5				568.4				611.4				7.6	%			(3.3	)%
Translation result			(15.3	)			5.3				8.7				66.2	%		n.m.
Income tax			(127.1	)			(117.5	)			(158.8	)			35.1	%			24.9	%
Profit for the period			490.1				456.2				461.3				1.1	%			(5.9	)%
Attributable to IFS' shareholders			487.5				453.3				458.4				1.1	%			(6.0	)%
EPS			4.25				3.95				4.00
ROE			18.2	%			15.6	%			15.1	%
ROA			2.1	%			1.9	%			1.9	%
Efficiency ratio			35.8	%			38.9	%			37.2	%

Quarter-on-quarter performance

Profits increased S/ 5.1 million QoQ, mainly due to a S/ 58.0 million increase in other income, which is mostly explained by increases from property valuation in our insurance business. Additionally, results were positively impacted by a reduction of S/ 28.3 million in loan provisions and a higher net interest income of S/ 20.0 million. These effects were partially offset by an increase of S/ 49.9 million in impairment on financial investments related to the exposure to Rutas de Lima in our insurance business, an increase of S/ 41.3 million in income tax and of S/ 15.7 million in other expenses.

The S/ 58.0 million increase in other income is mostly related to higher valuations on property from our insurance business. These effect was partially offset by lower mark-to-market valuations in our wealth management business.

The decrease of S/ 28.3 million in provisions was explained by a better performance of our retail loan portfolio and by the positive impact of the forward-looking models, which benefited our commercial portfolio. As a result, retail cost of risk stood at 3.7% and the commercial cost of risk was -0.2%, resulting in a total cost of risk of 1.8%, which is the lowest since 2023.

The S/ 20.0 million increase in net interest income was primarily driven by a S/ 25.2 million reduction in interest expenses, mainly explained by lower funding costs. This improvement reflects the inflow of retail deposits following the pension fund withdrawal, which strengthened our funding mix and contributed to a more efficient cost of funds.

The increase in impairment from financial investments of S/ 49.9 million was mainly explained by provisions made in our insurance business related to Rutas de Lima for S/ 127.9 million.

Finally, the S/ 41.3 million increase in income tax is related to the continuous increase in revenues QoQ, while the S/ 15.7 million increase in other expenses is mostly related to higher expenses at the bank level, which in turn are explained by higher technology and personnel expenses.

Year-on-year performance

Profits decreased by S/ 28.8 million YoY, primarily driven by a S/ 122.4 million increase on impairment of financial investments, as well as an increase of S/ 78.5 million in other expenses and S/ 31.7 million in income tax. These effects were partially offset by a reduction of S/ 91.1 million in provision expenses, as well as increases of S/ 29.1 million in insurance results, S/ 25.9 million in net interest and similar income, S/ 20.2 million in other income and S/ 13.3 million in fee income.

The increase in impairment from financial investments of S/ 122.4 million was explained mainly by provisions related to Rutas de Lima in our insurance business.

The S/ 78.5 million increase in other expenses was mostly due to higher expenses related to technology and salaries in our banking business. On the other hand, the increase in income tax was in turn related by to an increase of 19.3% in income before taxes in our banking business.

The S/ 91.1 million reduction in provision expenses was mainly explained by our disciplined approach to higher yielding loans, which represents 21.9% of the total loan book, along with the continued strong payment performance of our clients. Total cost of risk stood at 2.3% for 2025, which represents a reduction of 130 basis points compared to 2024.

The S/ 29.1 million increase in insurance results was mainly explained by higher short-term premiums, as well as an increase in CSM release due to adjustments in patterns.

The S/ 25.9 million increase in net interest and similar income was mostly explained by a S/ 33.2 million decrease in interest and similar expenses, reflected in a reduction of 20 basis points in the cost of funds, in turn related to the increase of 12.7% in efficient funding.

The increase of S/ 20.2 million in other income was mostly explained by higher valuation on property from our insurance business, as well as an increase in our banking business due to higher income from FX operations. These effects were partially offset by lower income from our wealth management business, explained by lower mark-to-market valuations.

The S/ 13.3 million increase in fee income was mainly driven by our banking business, supported by greater transactionality among our commercial and retail clients. In addition, our wealth management business also contributed to the increase, in line with a 16% YoY growth in assets under management.

CONTRIBUTION BY SEGMENTS

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 segment

S/ million		4Q24				3Q25				4Q25				%chg QoQ				%chg YoY
Banking			347.6				401.2				402.9				0.4	%			15.9	%
Insurance			75.8				37.9				63.3				66.8	%			(16.5	)%
Wealth Management			71.6				52.3				24.4				(53.4	)%			(65.9	)%
Corporate, eliminations and other subsidiaries			(4.8	)			(35.3	)			(29.2	)			(17.3	)%		n.m.
IFS profit for the period			490.1				456.2				461.3				1.1	%			(5.9	)%

Interbank

SUMMARY

2025 Performance

Interbank's profit was S/ 1,475 million in 2025, an increase of S/ 467.6 million, or 46.4% YoY.

Banking Segment’s P&L Statement

S/ million		2024				2025				%chg 24/23
Interest and similar income			5,969.6				5,815.7				27.3	%
Interest and similar expense			(2,217.2	)			(1,980.7	)			60.0	%
Net interest and similar income			3,752.4				3,835.0				12.6	%
Impairment loss on loans, net of recoveries			(1,719.9	)			(1,136.7	)		n.m.
Recovery (loss) due to impairment of financial investments			(1.0	)			(0.0	)		n.m.
Net interest and similar income after impairment loss			2,031.5				2,698.3				(29.8	)%
Fee income from financial services, net			791.8				884.6				2.0	%
Other income			513.5				620.2				4.1	%
Other expenses			(2,057.0	)			(2,249.1	)			1.0	%
Income before translation result and income tax			1,279.9				1,954.0				(39.7	)%
Translation result			(7.4	)			2.4				(30.0	)%
Income tax			(265.1	)			(481.4	)			(47.1	)%
Profit for the period			1,007.4				1,475.0				(37.7	)%
ROE			12.2	%			15.6	%
Efficiency ratio			38.9	%			41.1	%
NIM			5.3	%			5.2	%
NIM on loans			7.9	%			7.6	%

The YoY increase was mainly driven by a reduction of S/ 583.2 million in provisions on loans, reflecting a better behavior across segments.

Other income showed an increase of S/ 106.7 million mostly due to higher income from FX transactions and higher valuation on investments.

Fee income from financial transactions showed an increase of S/92.8 million, which was mostly explained by higher fees from credit cards, due to higher transactionality.

The result also benefited from a S/ 82.6 million increase in net interest and similar income; in turn related to a decrease of 40 basis points in cost of funds, in line with an increase of 12.7% in efficient funding.

These effects were offset by the increase of S/ 216.3 million in income tax, which is due to the increase of 52.7% in revenues before taxes; and the S/ 192.1 million increase in other expenses.

Consequently, Interbank's ROE stood at 15.5% in 2025, higher than the 12.2% reported in 2024.

4Q24 Performance

Interbank'sprofit was S/ 402.9 million in 4Q25, increases of S/ 1.7 million, or 0.4% QoQ, and S/ 55.3 million, or 15.9% YoY.

The quarterly increase was mainly driven by a reduction of S/ 28.0 million in provisions, reflecting a stronger performance across segments.

The result also benefited from a S/ 16.5 million increase in net interest and similar income; in turn related to a decrease of 10 basis points in our funding cost. These effects where partially offset by a S/ 27.1 million increase in other expenses, which are related to higher salaries and technology related expenses and of S/ 16.2 million increase in income tax expenses.

The annual performance in net profit was explained by S/ 91.0 million lower provisions, as well as increases in all income lines: of S/ 26.7 million in net interest and similar income, S/ 19.3 million in fee income and S/ 18.0 million in other income. These effects where partially offset by an increase of S/ 66.6 million in other expenses, as well as S/ 34.0 million in income tax.

Consequently, Interbank's ROE stood at 16.1% in 4Q25, lower than the 16.8% reported as of 3Q25 and higher than the 16.0% reported in 4Q24.

Banking Segment’s P&L Statement

S/ million		4Q24				3Q25				4Q25				%chg QoQ				%chg YoY
Interest and similar income			1,469.0				1,467.2				1,455.9				(0.8	)%			(0.9	)%
Interest and similar expense			(511.9	)			(499.9	)			(472.0	)			(5.6	)%			(7.8	)%
Net interest and similar income			957.1				967.3				983.8				1.7	%			2.8	%
Impairment loss on loans, net of recoveries			(319.7	)			(256.7	)			(228.7	)			(10.9	)%			(28.5	)%
Recovery (loss) due to impairment of financial investments			0.0				0.1				0.1			n.m.				n.m.
Net interest and similar income after impairment loss			637.4				710.6				755.2				6.3	%			18.5	%
Fee income from financial services, net			210.6				228.9				229.9				0.4	%			9.2	%
Other income			139.2				158.9				157.2				(1.1	)%			12.9	%
Other expenses			(528.8	)			(568.3	)			(595.4	)			4.8	%			12.6	%
Income before translation result and income tax			458.4				530.1				547.0				3.2	%			19.3	%
Translation result			1.2				1.0				1.9				90.7	%			57.4	%
Income tax			(112.0	)			(129.8	)			(146.0	)			12.5	%			30.4	%
Profit for the period			347.6				401.2				402.9				0.4	%			15.9	%
ROE			16.0	%			16.8	%			16.1	%
Efficiency ratio			38.2	%			40.8	%			42.3	%
NIM			5.3	%			5.2	%			5.3	%
NIM on loans			7.9	%			7.7	%			7.8	%

INTEREST-EARNING ASSETS

The quarterly increase in interest-earning assets was mainly explained by increases of 11.8% on cash and due from banks and inter-bank funds, 2.8% increase in financial investments and 0.7% increase in loans.

The YoY growth in interest-earning assets was attributed to an increase of 3.5% in loans, 9.0% on cash and due from banks and inter-bank funds and 6.9% on financial investments. Excluding the FX effect, interest-earning assets would have grown 7.0%.

Interest-earning assets

S/ million		Dec24				Sep25				Dec25				%chg Dec25/ Sep25				%chg Dec25/ Dec24
Cash and due from banks and inter-bank funds			11,886.6				11,592.1				12,957.6				11.8	%			9.0	%
Financial investments			11,187.5				11,632.6				11,960.4				2.8	%			6.9	%
Loans			47,607.9				48,936.2				49,279.6				0.7	%			3.5	%
Total interest-earning assets			70,682.0				72,160.8				74,197.5				2.8	%			5.0	%

Loan portfolio

S/ million		Dec24				Sep25				Dec25				%chg Dec25/ Sep25				%chg Dec25/ Dec24
Performing loans
Retail			24,408.0				25,211.9				25,523.7				1.2	%			4.6	%
Commercial			22,654.3				23,109.5				23,150.2				0.2	%			2.2	%
Total performing loans			47,062.3				48,321.4				48,673.9				0.7	%			3.4	%
Restructured and refinanced loans			449.4				488.5				467.7				(4.3	)%			4.1	%
Past due loans			1,318.8				1,272.4				1,230.6				(3.3	)%			(6.7	)%
Total gross loans			48,830.5				50,082.4				50,372.2				0.6	%			3.2	%
Add (less)
Accrued and deferred interest			507.4				519.8				498.3				(4.1	)%			(1.8	)%
Impairment allowance for loans			(1,730.0	)			(1,666.0	)			(1,590.9	)			(4.5	)%			(8.0	)%
Total direct loans, net			47,607.9				48,936.2				49,279.6				0.7	%			3.5	%

Performing loans increased 0.7% QoQ, as retail loans increased 1.2% and commercial loans decreased 0.2%. However, excluding the FX effect, performing loans would have increased 1.6% approximately.

Retail loans increased 1.2% due to higher balances of 2.4% in mortgages and 2.3% in credit cards and personal loans, which continue to accelerate; these effects were partially offset by a 2.7% decrease in payroll deductible loans.

Commercial loans increased 0.2% and was mainly explained by increases in mid-sized and small businesses; partially offset by lower credits from corporate banking. However, excluding the FX impact, total commercial loans and corporate banking loans grew 1.8% and 0.6%respectively.

On the YoY analysis, performing loans increased 3.4%, explained by a 4.6% growth in retail and 2.2% in commercial loans. Excluding the FX impact, total loan growth would have been 6.5% and 8.2% for commercial banking.

The 4.6% increase in retail loans was mostly driven by a 7.9% increase in mortgages, as well as a 2.2% in credit cards and personal loans; these effects where partially offset by a 2.0% decrease in payroll deductible loans. Credit cards and personal loans represent 18.3% of the total loan book.

The 2.2% growth in commercial loans was explained by a double-digit growth in small businesses of 25.4% and a growth of 3.7% in mid-sized companies; loans to corporates showed a reduction of 0.1%, but when adjusting the FX impact, it would have been 5.5%.

Breakdown of retail loans

S/ million		Dec24				Sep25				Dec25				%chg Dec25/ Sep25				%chg Dec25/ Dec24
Consumer loans:
Credit cards & other loans			8,494.0				8,711.4				8,915.7				2.3	%			5.0	%
Payroll deduction loans(1)			5,693.5				5,735.0				5,581.8				(2.7	)%			(2.0	)%
Total consumer loans			14,187.5				14,446.4				14,497.5				0.4	%			2.2	%
Mortgages			10,220.4				10,765.4				11,026.2				2.4	%			7.9	%
Total retail loans			24,408.0				25,211.9				25,523.7				1.2	%			4.6	%

(1)Payroll deduction loans to public sector employees.

Market share in loans

		4Q24				3Q25				4Q25				bps QoQ		bps YoY
Total consumer loans			20.2	%			19.6	%			19.2	%		-40		-100
Mortgages			16.1	%			16.1	%			16.2	%		+10		+10
Total retail loans			18.2	%			17.9	%			17.8	%		-10		-40
Total commercial loans			11.1	%			11.2	%			11.1	%		-10		0
Total loans			14.0	%			13.9	%			13.8	%		-10		-20

FUNDING STRUCTURE

Funding structure

S/ million		Dec24				Sep25				Dec25				%chg Dec25/ Sep25				%chg Dec25/ Dec24
Deposits and obligations			51,144.4				51,193.3				53,667.2				4.8	%			4.9	%
Due to banks and correspondents and inter-bank funds			6,963.7				7,451.2				6,783.1				(9.0	)%			(2.6	)%
Bonds, notes and other obligations			4,669.1				4,514.2				4,289.7				(5.0	)%			(8.1	)%
Total			62,777.2				63,158.7				64,740.0				2.5	%			3.1	%
% of funding
Deposits and obligations			81.5	%			81.1	%			82.9	%
Due to banks and correspondents and inter-bank funds			11.1	%			11.8	%			10.5	%
Bonds, notes and other obligations			7.0	%			7.1	%			6.6	%

The bank’s total funding base increased 2.5% QoQ. This was explained by a 4.8% increase in deposits and obligations, mostly due to the capture of retail deposits from the pension funds withdrawal; partially offset by a 9.0% decrease in due to banks and inter-bank funds and a 5.0% decrease in bonds, notes and other obligations.

The quarterly increase in deposits of S/ 2,473.9 million was mostly explained by an 8.7% increase in retail deposits, in turn related to the capture of retail deposits from the pension funds withdrawals. By type, savings deposits increased 9.8% and demand deposits 5.1% respectively. Efficient funding stood at 39.5% as of December 2025.

As a result, the bank deposit composition was 25% demand deposits, 41% savings deposits and 34% time deposits.

The bank's total funding increased by 3.1% YoY. This was explained by a 4.9% increase in deposits and obligations; partially offset by decreases of 2.6% in due to banks and correspondents and inter-bank funds and of 8.1% in bonds, notes and other obligations, with the latter mainly impacted by the exchange rate depreciation.

The annual increase in deposits of S/ 2,155.0 million was mainly due to increases of 8.2% in retail deposits and 2.2% in commercial deposits; partially offset by a 6.3% increase in institutional deposits. By type, saving deposits showed an increase of 13.0% and demand deposits showed a 3.2%; partially offset by a decrease of 2.3% in time deposits. The bank is strongly focus in promoting its efficient funding, which increased 12.7% YoY.

As of december 31, 2025, the proportion of deposits and obligations to total funding was 82.9%, higher than the 81.5% reported in 4Q25.

Breakdown of deposits

S/ million		Dec24				Sep25				Dec25				%chg Dec25/ Sep25				%chg Dec25/ Dec24
By customer service:
Retail			26,154.2				26,052.1				28,309.2				8.7	%			8.2	%
Commercial			15,755.5				15,891.9				16,109.8				1.4	%			2.2	%
Institutional			8,738.1				8,745.5				8,744.9				(0.0	)%			0.1	%
Other			496.6				503.8				503.4				(0.1	)%			1.4	%
Total			51,144.4				51,193.3				53,667.2				4.8	%			4.9	%
By type:
Demand			13,177.0				12,945.3				13,599.4				5.1	%			3.2	%
Savings			19,412.1				19,979.1				21,935.2				9.8	%			13.0	%
Time			18,548.5				18,252.1				18,125.6				(0.7	)%			(2.3	)%
Other			6.7				16.7				7.0				(57.9	)%			5.0	%
Total			51,144.4				51,193.3				53,667.2				4.8	%			4.9	%

Market share in deposits

		4Q24				3Q25				4Q25				bps QoQ		bps YoY
Retail deposits			14.6	%			14.4	%			14.4	%		0		-20
Commercial deposits			12.6	%			12.5	%			12.7	%		+20		+10
Total deposits			13.6	%			13.4	%			13.6	%		+20		0

NET INTEREST AND SIMILAR INCOME

Net interest and similar income

S/ million		4Q24				3Q25				4Q25				%chg QoQ				%chg YoY
Interest and similar income			1,469.0				1,467.2				1,455.9				(0.8	)%			(0.9	)%
Interest and similar expense			(511.9	)			(499.9	)			(472.0	)			(5.6	)%			(7.8	)%
Net interest and similar income			957.1				967.3				983.8				1.7	%			2.8	%
NIM			5.3	%			5.2	%			5.3	%			10	bps			0	bps

Interest and similar income

Interest and similar income		4Q24				3Q25				4Q25				%chg QoQ				%chg YoY
Interest and similar income
Due from banks and inter-bank funds			78.6				60.3				59.3				(1.7	)%			(24.6	)%
Financial investments			132.0				140.2				134.5				(4.1	)%			1.9	%
Loans			1,258.4				1,266.6				1,262.0				(0.4	)%			0.3	%
Total Interest and similar income			1,469.0				1,467.2				1,455.9				(0.8	)%			(0.9	)%
Average interest-earning assets			72,685.4				74,173.5				74,807.6				0.9	%			2.9	%
Average yield on assets (annualized)			8.1	%			7.9	%			7.8	%			-10	bps			-30	bps

Interest and similar expense

Interest and similar expense		4Q24				3Q25				4Q25				%chg QoQ				%chg YoY
Interest and similar expense
Deposits and obligations			(334.9	)			(315.8	)			(299.7	)			(5.1	)%			(10.5	)%
Due to banks and correspondents and inter-bank funds			(110.9	)			(101.8	)			(101.4	)			(0.4	)%			(8.5	)%
Bonds, notes and other obligations			(66.1	)			(82.3	)			(70.9	)			(13.8	)%			7.3	%
Total Interest and similar expense			(511.9	)			(499.9	)			(472.0	)			(5.6	)%			(7.8	)%
Average interest-bearing liabilities			63,261.7				63,935.1				63,949.3				0.0	%			1.1	%
Average cost of funding (annualized)			3.2	%			3.1	%			3.0	%			-10	bps			-20	bps

Net interest and similar income increased 1.7% QoQ and 2.8% YoY, with NIM increasing 10pbs QoQ, in line with the QoQ reduction of 10 bps in the cost of funds.

Risk-adjusted NIM increased by 20bps QoQ and 50bps YoY, in line with a lower cost of risk, explained by a better payment behavior of the retail portfolio and a consistent disciplined performance of commercial portfolio.

QoQ Performance

Net interest and similar income decrease was mainly explained by a 4.1% decrease in interest on financial investments, a 0.4% decrease in interest on loans and a 1.7% decrease in due from banks and inter-bank funds.

Interest on loans decreased S/ 4.6 million QoQ, or 0.4%, explained by a 10 basis points decrease in the average yield, partially offset by a 0.3% increase in the average volume.

The higher average volume of loans was attributed to a 1.6% increase in retail loans, partially offset by a 0.9% decrease in commercial loans. In the retail portfolio, the average balances of mortgages increased by 2.4%, credit cards by 3.4%, and personal loans by 1.6%, these effects were partially offset by a reduction of 0.7% in payroll deductible loans. In the commercial portfolio, average balances of trade finance loans showed a decrease of 16.1%; while working capital loans and leasing operations showed increases of 0.4% and 3.2%, respectively.

The 10 basis points decrease in the average yield, from 10.0% to 9.9%, was explained by lower yields on commercial loans.

Interest on financial investments decreased S/ 5.7 million QoQ, or 4.1%, explained by an increase of 10 basis points in the average yield, and of 0.5% in the average volume.

Interest on due from banks and inter-bank funds decreased S/ 1.0 million QoQ, or 1.7%, explained by a decrease in the average yield of 20 basis points.

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

The lower interest and similar expense was due to reductions of 5.0% in deposits and obligations, 13.8% in bonds, notes and other obligations, and 0.4% in due to banks and correspondents.

Interest on deposits and obligations decreased S/ 16.1 million QoQ, or 5.0% explained by a 20 basis points reduction in the average cost, while the average volume increased 1.6%. The reduction in the average cost was in commercial and retail clients; while the increase in the average volume was mostly explained by a 4.4% increase in retail deposits.

The reduction is also explained by efficient funding initiatives, which resulted in a total of 39.5% of the total funding; in turn related to the capture of retail deposits from the pension fund withdrawal.

Interest on bonds, notes, and other obligations showed a decrease of 13.8%, or S/ 11.4 million, which was mostly explained by a decrease of 13.0% in the average volume, as well as a decrease of 10 basis points in the average cost.

Interest on due to banks and correspondents decreased S/ 0.4 million QoQ, or 0.4%, explained by a 2.0% decrease in the average volume, which was partially offset by 10 basis points increase in the average cost.

As a result, the average cost of funding decreased 10 basis points from 3.1% in 3Q25 to 3.0% in 4Q25, and net interest margin was 5.3% in 4Q25, 10 basis points higher than the 5.2% of the 3Q25.

YoY Performance

Net interest and similar income reduction was mainly explained by a decrease of 24.6% in interest on due from banks and inter-bank funds; partially offset by increases of 0.2% in interest on loans and 1.9% in interest on financial investments.

Interest on due from banks and inter-bank funds decreased S/ 19.3 million, mostly due to a 60 basis points reduction in the average yield, in turn related to a 125 basis points reduction in the central bank reference rate, as well as a 2.7% decrease in the average volume.

Interest on loans increased by S/ 3.6 million YoY, explained by an increase of 3.7% in the average volume (6.4% excluding FX impact). This effect was partially offset by a reduction of 40 basis points in the average yield, in turn related to the loan mix.

The higher average volume of loans was attributed to growth of 4.0% in the average volume of retail loans and 4.1% in the average volume of commercial loans (8.7% excluding the FX impact). In the retail portfolio, average volumes increased 7.6% in mortgages, 6.7% in credit cards, 2.7% in personal loans; partially offset by a 2.1% reduction in payroll deductible loans. In commercial loans, average volumes increased 3.4% in working capital loans, as well as 5.9% in leasing operations; partially offset by a decreased 13.4% in trade finance loans.

Interest on financial investments increased S/ 2.5 million YoY, explained mainly by a 1.2% increase in the average volume.

As a result, the nominal average yield on interest-earning assets lowered 30 basis points to 7.9% in 3Q25, from 8.2% in 3Q24.

The lower interest and similar expense was due to a decrease of 10.5% in deposits and obligations, and of 8.5% in due to banks and correspondents and interbank funds; these effects were partially offset by an increase of S/ 7.3% in bonds, notes and other obligations.

The decrease in interest on deposits and obligations of S/ 35.2 million soles was explained by 30 basis point decrease in the average cost, from 2.6% in 4Q24 to 2.3% in 4Q25, which reflects the impacts of the efficient and short-term funding policy of the bank, as well as the 75bps reduction in the central bank reference rate. This effect was partially compensated by a 2.3% increase in the average volume, which showed increases of 3.1% in institutional deposits and retail deposits, as well as a 0.5% increase in commercial deposits.

Interest on due to banks and correspondents decreased mainly as a result of 30 basis points reduction in the average cost, as well as a 4.2% reduction in the average volume.

Interest on bonds, notes and other obligations increased S/ 4.8 million YoY, mainly explained by a 70 basis point increase in the average cost, partially offset by a 3.9% reduction in the average volume.

As a result, the average cost of funding decreased 20 basis points from 3.2% in 4Q24 to 3.0% in 4Q25; and net interest margin was 5.3% in 4Q25, stable compared with 4Q24.

IMPAIRMENT LOSS ON LOANS, NET OF RECOVERIES

Reported cost of risk was 1.8% for the 4Q25. Quarterly and yearly performance is mostly explained by decreases of 30 basis points and 150 basis points respectively, in the retail loan book, which in turn is related to a better payment behavior of our clients. Commercial cost of risk remained stable, QoQ and YoY.

Impairment loss on loans, net of recoveries

Impairment loss on loans, net of recoveries		4Q24				3Q25				4Q25				%chg QoQ				%chg YoY
Impairment loss on loans, net of recoveries			(319.7	)			(256.7	)			(228.7	)			(10.9	)%			(28.5	)%
Impairment loss on loans/average gross loans			2.6	%			2.1	%			1.8	%			-30	bps			-80	bps
S3 NPL ratio (at end of period)			2.5	%			2.4	%			2.3	%			-10	bps			-20	bps
S3 NPL coverage ratio (at end of period)			140.2	%			140.5	%			139.2	%			-130	bps		n.m.
Impairment allowance for loans			1,730.0				1,666.0				1,590.9				(4.5	)%			(8.0	)%

QoQ performance

Impairment loss on loans, net of recoveries, decreased 4.5% QoQ.

The quarterly performance was explained by lower provision requirements across retail and commercial loan book.

Cost of risk was 1.8% in the 4Q25, and is composed by a 3.7% in retail, which is the lowest since 2023, and -0.2% in commercial. This is explained by the continuous good payment behavior in retail and commercial clients.

The S3 NPL ratio stood at 2.3%. The S3 NPL coverage ratio was 139.2% as of December 31, 2025, lower than the 140.5% as of September 30, 2025, within our risk appetite.

YoY performance

Impairment loss on loans, net of recoveries decreased 8.0% YoY.

The YoY performance was driven by lower provision requirements in the retail loan book, reflecting strong payment behavior. Additionally, the commercial portfolio continued to show disciplined payment performance.

Cost of risk of retail segment was the lowest since 2023, and decreased 150 basis points YoY, while commercial cost of risk was stable at -0.2%.

The S3 NPL ratio decreased YoY, from 2.5% in 4Q24 to 2.3% in 4Q25. The S3 NPL coverage ratio was 139.2% as of December 31, 2025, lower than the 140.2% as of December 31, 2024, within our risk appetite.

FEE INCOME FROM FINANCIAL SERVICES, NET

Net fee income from financial services showed a S/ 1.0 million QoQ increase, or 0.4%, primarily driven by higher commissions on credit cards, in turn related to an increase in transactionality. This effect was offset by a S/ 4.4 million reduction in commissions from banking services and a S/ 8.5 increase in other expenses.

Net fee income from financial services increased by S/ 19.3 million YoY, or 9.2%, primarily reflecting stronger banking and credit card fee commissions, supported by improved economic momentum. This increase was partially offset by a S/ 12.5 million higher other expenses, which was a key driver of the 11.2% YoY increase in total expenses.

Fee income from financial services, net

Fee income from financial services, net		4Q24				3Q25				4Q25				%chg QoQ				%chg YoY
Income
Commissions from credit card services			115.1				116.6				128.1				9.8	%			11.3	%
Commissions from banking services			84.2				101.1				96.7				(4.3	)%			14.9	%
Maintenance and mailing of accounts, transfer fees and commissions on debit card services			83.0				85.5				89.3				4.5	%			7.6	%
Fees from indirect loans			16.5				17.8				15.1				(15.0	)%			(8.3	)%
Collection services			13.5				12.8				12.8				(0.2	)%			(5.2	)%
Other			6.9				7.5				8.6				15.1	%			25.4	%
Total income			319.2				341.3				350.7				2.7	%			9.9	%
Expenses
Insurance			(18.9	)			(18.0	)			(17.2	)			(4.3	)%			(8.7	)%
Fees paid to foreign banks			(6.2	)			(6.9	)			(7.6	)			8.9	%			21.5	%
Other			(83.5	)			(87.5	)			(96.0	)			9.7	%			14.9	%
Total expenses			(108.6	)			(112.5	)			(120.8	)			7.4	%			11.2	%
Fee income from financial services, net			210.6				228.9				229.9				0.4	%			9.2	%

OTHER INCOME

Other income decreased by S/ 1.7 million QoQ, or 1.1%, mainly driven by a S/ 13.0 million reduction in net gains from the sale of financial investments. This was partly offset by stronger net gains from foreign exchange transactions of S/ 5.2 millions and a S/ 6.1 million increase in other items.

Other income increased by S/ 18.0 million YoY, or 12.9%, mainly due to higher net gains from financial investments, particularly from sovereign bonds sales. Net gains from foreign exchange transactions and on financial assets also increased by S/ 14.8 million. These gains were partially offset by an S/ 11.3 million decrease in other items.

Other income

Other income		4Q24				3Q25				4Q25					%chg QoQ				%chg YoY
Net gain on foreign exchange transactions and on financial assets at fair value through profit or loss			106.2				115.8				121.0					4.5	%			14.0	%
Net gain on sale of financial investments			1.0				28.4				15.4					(45.8	)%		n.m.
Other			32.1				14.7				20.8					41.2	%			(35.2	)%
Total other income			139.2				158.9				157.2					(1.1	)%			12.9	%

OTHER EXPENSES

Other expenses increased by S/ 27.1 million QoQ, or 4.8%, due to an increase of S/ 25.2 million in administrative expenses, including technology expenses.

Other expenses increased by S/ 66.6 million YoY, or 12.6%, mainly driven by higher salaries and employee benefits of S/ 26.0 million, an increase of S/ 46.3 million in administrative expenses, and a S/ 9.6 million rise in depreciation and amortization.

Other expenses

Other expenses		4Q24				3Q25				4Q25				%chg QoQ				%chg YoY
Salaries and employee benefits			(174.7	)			(203.3	)			(200.7	)			(1.2	)%			14.9	%
Administrative expenses			(253.1	)			(274.2	)			(299.4	)			9.2	%			18.3	%
Depreciation and amortization			(70.9	)			(75.9	)			(80.5	)			6.0	%			13.5	%
Other			(30.1	)			(15.0	)			(14.7	)			(1.6	)%			(51.0	)%
Total other expenses			(528.8	)			(568.3	)			(595.4	)			4.8	%			12.6	%
Efficiency ratio			38.2	%			40.8	%			42.3	%			150	bps			410	bps

REGULATORY CAPITAL

The bank’s total capital ratio was 16.0%% as of 4Q25, above the 15.8% reported in 3Q25 and the 15.9% recorded in 4Q24.

Core Equity Tier 1 (CET1) stood at 12.5%, above the 12.1% registered in 3Q25 and the 12.3% reported as of 4Q24. Both ratios are significantly exceeding their limits plus additional buffers and capital allocated to cover additional risks, as required by the SBS.

In December 2022, the Superintendenciade Banca, Segurosy 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 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 4Q25, risk-weighted assets (RWA) increased by 0.5% QoQ, driven by higher capital requirements for credit risk. The higher credit-risk RWA was mainly attributable to an increase in loan RWA. Meanwhile, regulatory capital rose by 1.9% QoQ, supported by 4Q25 net income.

The minimum total capital ratio requirement is 10%. In addition, the regulator requires extra capital buffers for other additional risks. As of 4Q25, the total additional buffer requirement stood at 3.6%, resulting in an overall regulatory requirement of 13.6%.

The YoY increase in the capital ratio was driven by an 8.2% increase in regulatory capital, partially offset by 7.5% higher risk-weighted assets (RWA). The increase in RWA reflected higher credit-risk capital requirements, explained by stronger loan growth in the corporate and mortgage portfolios.

The YoY movement in regulatory capital was mainly the result of the capitalization from the 2024 earnings, 2025 net income, and an improvement in the unrealized result of the available-for-sale investment portfolio.

Regulatory capital		Dec24				Sep25				Dec25				%chg Dec25/ Sep25				%chg Dec25/ Dec24
Tier I capital			7,892.4				8,335.5				8,641.3				3.7	%			9.5	%
Tier II capital			2,346.9				2,533.0				2,434.8				(3.9	)%			3.7	%
Total regulatory capital			10,239.3				10,868.5				11,076.1				1.9	%			8.2	%
Risk-weighted assets (RWA)			64,308.3				68,810.0				69,130.0				0.5	%			7.5	%
Total capital ratio			15.9	%			15.8	%			16.0	%		+20pbs				+10pbs
Tier I capital / RWA			12.3	%			12.1	%			12.5	%		+30pbs				+20pbs
CET1			12.3	%			12.1	%			12.5	%		+40pbs				+20pbs

(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.

Interseguro

SUMMARY

2025 Performance

Interseguro’sprofits reached S/ 274.5 million in 2025 an increase of S/ 72.6 million, or 36.0%, compared to 2024.

Insurance Segment’s P&L Statement

		2024				2025				%chg 25/24
Interest and similar income			871.0				921.8				5.8	%
Interest and similar expenses			(153.5	)			(184.5	)			20.2	%
Net interest and similar income			717.5				737.3				2.8	%
Recovery (loss) due to impairment of financial investments			(45.9	)			(264.1	)		n.m.
Net interest and similar income after impairment loss			671.6				473.2				-29.5	%
Fee income from financial services, net			(10.6	)			(12.6	)			18.8	%
Insurance results			(169.8	)			(47.8	)			-71.9	%
Other income			121.2				272.0			n.m.
Other expenses			(401.2	)			(446.0	)			11.2	%
Income before translation result and income tax			211.3				238.8				13.0	%
Translation result			(9.4	)			35.7			n.m.
Profit for the period			201.9				274.5				36.0	%
ROE			41.6	%			39.4	%
Efficiency ratio			13.8	%			11.2	%

The annual performance in net profit was mainly explained by an increase of S/ 150.8 million in other income, in turn related to higher mark-to-market valuations mainly on real state. An Improvement of S/ 122.0 million in Insurance results, due to higher CSM release in life and annuities and better-than-expected results from the D&S portfolio acquired through a two-year bidding process from the Peruvian private pension system.

Also, increases of S/ 45.1 million in Translation Result, in line with the FX trend and of S/ 19.8 million in net interest and similar income, mainly related to higher dividends received. These effects were partially offset by losses due to impairment of financial investments in Rutas de Lima and Telefónica del Peru of S/218.2 million. As of December 2025, Rutas de Lima has been provisioned by ~80%, hence our exposure net of impairments is around S/74 million or $22 million USD equivalent.

As a result, Interseguro’sROE was 39.5% for 2025 compared to the 41.6% registered in 2024.

4Q24 Performance

Interseguro’sprofits reached S/ 63.3 million in 4Q25, a quarterly increase of S/ 25.4 million, or 66.8%, and a decrease of S/ 12.5 million, or 16.5%, compared to 4Q24.

The quarterly growth was mainly explained by increases of S/ 64.9 million in other income, mainly explained by higher valuations on real state, and a S/ 5.6 million increase in net interest and similar income. These effects were partially offset by an increase in loss due to impairment of financial investments, related to Rutas de Lima.

The annual decrease in net profit was mainly explained by an increase of S/ 123.0 million in loss due to impairment of financial investments associated to Rutas de Lima. This effect was partially offset by a S/ 74.3 million increase in other income, mainly explained by a net gain on valuation of real state and a S/ 29.1 million increase in insurance results mainly due to the acquisition of a D&S portfolio and higher CSM release.

As a result, Interseguro’s ROE was 32.5% for 4Q25 compared to the 22.3% and 66.5% registered in 3Q25 and 4Q24, respectively.

Insurance Segment’s P&L Statement

S/ million		4Q24				3Q25				4Q25				%chg QoQ				%chg YoY
Interest and similar income			212.6				216.3				226.3				4.6	%			6.4	%
Interest and similar expenses			(36.5	)			(43.2	)			(47.6	)			10.2	%			30.4	%
Net interest and similar income			176.1				173.1				178.7				3.3	%			1.5	%
Recovery (loss) due to impairment of financial investments			(4.0	)			(77.7	)			(126.5	)			62.9	%		n.m.
Net interest and similar income after impairment loss			172.1				95.4				52.2				(45.3	)%			(69.7	)%
Fee income from financial services, net			(2.7	)			(3.4	)			(2.9	)			(15.2	)%			4.1	%
Insurance results			(30.2	)			(1.2	)			(1.1	)			(2.8	)%			(96.2	)%
Other income			45.5				54.9				119.8			n.m.				n.m.
Other expenses			(98.9	)			(112.6	)			(111.3	)			(1.1	)%			12.6	%
Income before translation result and income tax			85.7				33.2				56.6				70.9	%			(33.9	)%
Translation result			(9.9	)			4.8				7.1				48.4	%		n.m.
Profit for the period			75.8				37.9				63.8				68.1	%			(15.8	)%
ROE			66.5	%			22.3	%			32.5	%
Efficiency ratio			12.7	%			12.3	%			9.6	%

RESULTS FROM INVESTMENTS

Results from Investments (1)

Results from Investments (1)		4Q24				3Q25				4Q25				%chg QoQ				%chg YoY
Interest and similar income			212.6				216.3				226.3				4.6	%			6.4	%
Interest and similar expenses			(20.7	)			(20.1	)			(18.7	)			(6.6	)%			(9.3	)%
Net interest and similar income			191.9				196.2				207.6				5.8	%			8.1	%
Recovery (loss) due to impairment of financial investments			(4.0	)			(77.7	)			(127.0	)			63.5	%		n.m.
Net Interest and similar income after impairment loss			187.9				118.5				80.5				(32.1	)%			(57.2	)%
Net gain (loss) on sale of financial investments			8.3				6.1				15.9			n.m.					92.9	%
Net gain (loss) on financial assets at fair value through profit or loss			(12.7	)			19.2				8.5				(55.8	)%		n.m.
Rental income			17.8				19.7				23.4				18.8	%			31.5	%
Gain on sale of investment property			0.0				0.0				0.0			n.m.				n.m.
Valuation gain (loss) from investment property			30.8				(0.2	)			73.2			n.m.				n.m.
Other(1)			(5.1	)			(3.8	)			(3.1	)			(19.2	)%			(39.6	)%
Other income			39.2				40.9				117.9			n.m.				n.m.
Results from investments			227.1				159.5				198.4				24.4	%			(12.6	)%

(1) Only includes transactions related to investments.

NET INTEREST AND SIMILAR INCOME

Net interest and similar income related to investments was S/ 207.6 million in 4Q25, an increase of S/ 11.4 million QoQ, or 5.8%, and of S/ 15.7 million YoY, or 8.1%.

Both quarterly and annual performance were mainly driven by higher interest and similar income, which increased by S/ 10.0 million for the quarter and S/ 13.7 million for the year. This was primarily attributable to interest earned on inflation-indexed bonds and a larger fixed-income portfolio, reflecting business growth.

RECOVERY (LOSS) DUE TO IMPAIRMENT OF FINANCIAL INVESTMENTS

Loss due to impairment of financial investments totaled S/ 127.0 million in 4Q25, primarily related to Rutas de Lima (RdL), in line with 3Q25 which recorded a S/ 77.7 million loss. In contrast, 4Q24 registered a loss of S/ 4.0 million, mainly associated with accrued interest and impaired bond payments.

OTHER INCOME

Other income related to investment was S/ 117.9 million in 4Q25, an increase of S/ 77.0 million QoQ and S/ 78.7 million YoY.

The quarterly increase was explained by a S/ 73.4 million improvement in valuation gain from real state investments. This was partially offset by a decrease of S/ 10.7 million in net loss on financial assets at fair value through profit or loss.

The annual increase was explained mainly by S/ 42.4 million increase in valuation gain from real state investments, mainly due to changes in market discount rates and S/ 21.2 million in net gain on financial assets at fair value due to a higher valuation of investment funds.

INSURANCE RESULTS

Insurance Results

Insurance Results		4Q24				3Q25				4Q25				%chg QoQ				%chg YoY
Insurance Income			192.1				265.8				316.0				18.9	%			64.5	%
Insurance Expenses			(222.4	)			(267.0	)			(317.1	)			18.8	%			42.6	%
Insurance results			(30.2	)			(1.2	)			(1.1	)		n.m.					-96.4	%

INSURANCE INCOME

Insurance Results

Insurance Results		4Q24				3Q25				4Q25				%chg QoQ				%chg YoY
Annuities			(123.9	)			(96.5	)			(133.4	)			38.2	%			7.7	%
Individual Life			36.5				25.5				54.0			n.m.					47.9	%
Retail insurance			57.1				69.9				78.3				12.0	%			37.1	%
Insurance Results			(30.2	)			(1.2	)			(1.1	)			(2.8	)%			(96.2	)%

QoQ performance

Insurance results increased S/ 0.1 million QoQ mostly due to a growth of S/ 28.5 million in individual life and S/ 8.4 in retail insurance, partially offset by a decrease of S/ 36.9 million in annuities.

The quarterly growth in individual life and retail insurance was mainly due to adjustments in CSM release patterns for long term contracts.

YoY performance

Insurance results increased S/ 29.1 million YoY, mostly due to an increase of S/ 21.2 million in retail insurance and S/ 17.5 million in individual life, partially offset by a decrease of S/ 9.5 million in annuities.

The increases in retail insurance and individual life are mainly explained by both higher short-term premiums and higher CSM release due to adjustments in CSM release patterns.

LONG-TERM INSURANCE

CSM Stock increased 1.0% QoQ and 21.8% YoY.

The quarterly decrease in individual life was driven by an adjustment in CSM release patterns, which accelerated profit recognition . Also, both quarterly and annual performance reflect higher annuities and credit life CSM, driven by increased premiums.

OTHER EXPENSES

Other Expenses

Other Expenses		4Q24				3Q25				4Q25				%chg QoQ				%chg YoY
Salaries and employee benefits			(29.4	)			(33.5	)			(35.6	)			6.1	%			21.1	%
Administrative expenses			(16.9	)			(21.4	)			(18.0	)			(15.9	)%			6.4	%
Depreciation and amortization			(5.8	)			(5.3	)			(5.3	)			(0.2	)%			(8.3	)%
Expenses related to rental income			(3.9	)			(3.0	)			(2.8	)			(4.7	)%			(27.6	)%
Other			(42.9	)			(49.4	)			(49.6	)			0.4	%			15.6	%
Other expenses			(98.9	)			(112.6	)			(111.3	)			(1.1	)%			12.6	%

Inteligo

SUMMARY

2025 Performance

Inteligo reported a net profit of S/ 231.1 million in 2025, an increase of S/ 93.8 million compared to the previous year.

This growth was primarily driven by higher mark-to-market gains on proprietary portfolio investments, which increased by S/ 77.3 million, as well as a S/ 25.0 million increase in fee income. The latter was mainly supported by the strong performance of Interfondos, the local mutual fund subsidiary, whose revenues grew in line with a 31.9% expansion in assets under management (AUM). These positive effects were partially offset by an S/ 8.2 million decrease in net interest and similar income, mainly due to lower yields on due from banks and inter-bank fund and loans.

From a business development perspective, Inteligo’sclient acquisition initiatives continued to yield solid results, reflected in sustained growth in new account openings and AUM across both Private Wealth Management and mutual funds, as well as the acquisition of Veltria, a firm focused on supporting high-net-worth families. As of December 31, 2025, total AUM increased 17.2% year-over-year.

Inteligo’sreturn on equity (ROE) stood at 21.5% in 2025, higher than 14.2% reported in 2024.

Wealth Management Segment’s P&L Statement

S/ million		2024				2025				%chg 25/24
Interest and similar income			178.2				160.1				(10.2	)%
Interest and similar expenses			(108.5	)			(98.6	)			(9.1	)%
Net interest and similar income			69.7				61.5				(11.8	)%
Impairment loss of loans, net of recoveries			(0.3	)			0.0				(107.7	)%
Recovery (loss) due to impairment of financial investments			(0.6	)			0.4				(164.3	)%
Net interest and similar income after impairment loss			68.8				61.9				(10.1	)%
Fee income from financial services, net			171.0				196.0				14.6	%
Other income			85.2				162.5				90.7	%
Other expenses			(175.5	)			(175.3	)			(0.1	)%
Income before translation result and income tax			149.5				245.1				63.9	%
Translation result			(2.1	)			(1.1	)			(44.9	)%
Income tax			(10.1	)			(12.8	)			26.7	%
Profit for the period			137.3				231.1				68.3	%
ROE			14.2	%			21.5	%
Efficiency ratio		60.4%					47.8	%

4Q24 Performance

Inteligo’s net profit was S/ 24.4 million in 4Q25, reflecting a QoQ reductionof S/ 27.9 million, and a S/ 47.2 million decline compared to the same period last year.

The quarterly performance was mainly impacted by a negative effect in income tax of S/ 18.6 due to a positive impact in the previous quarter, stemming from the reversal of previously recognized tax provisions at Inteligo Bank. Other effects include a S/ 4.3 million increase in other expenses, mainly driven by higher personnel-related costs, and lower mark-to-market profits on proprietary portfolio investments, which decreasedby S/ 4.1 million QoQ due to a higher appreciation of fintech and tech-enabled financial platform positions during the third quarter.

The YoYperformance was impacted by a S/ 54.2 million decrease in fee income from financial services, primarily due to a decline in mark-to-market profits on proprietary investments. This effect was partially offset by a S/ 5.8 million decrease in other expenses, mainly due to lower personnel-related costs, and a S/ 3.4 increase in fee income, due to higher revenues from the local mutual fund's subsidiary.

From a business development standpoint, Inteligo’sclient acquisition efforts continued to deliver solid results, reflected in growth in new account openings and assets under management (AUM) across both Private Wealth Management and mutual, as well as the acquisition of Veltria, a firm focused on supporting high-net-worth families.

As of December 31, 2025, AUM increased by 5.8% QoQ and 17.2% YoY.Inteligo’sreturn on equity (ROE) stood at 8.9% in 4Q25, lower than 19.3% reported in 3Q25.

Wealth Management Segment’s P&L Statement

S/ million		4Q24				3Q25				4Q25				%chg QoQ				%chg YoY
Interest and similar income			42.3				39.7				36.7				(7.4	)%			(13.1	)%
Interest and similar expenses			(26.6	)			(25.9	)			(23.5	)			(9.3	)%			(11.6	)%
Net interest and similar income			15.7				13.7				13.2				(3.7	)%			(15.6	)%
Impairment loss of loans, net of recoveries			0.0				(0.1	)			0.2			n.m.				n.m.
Recovery (loss) due to impairment of financial investments			(0.6	)			0.6				(0.5	)		n.m.					(23.2	)%
Net interest and similar income after impairment loss			15.1				14.1				12.9				(8.6	)%			(14.2	)%
Fee income from financial services, net			47.0				50.0				50.4				0.9	%			7.3	%
Other income			66.4				16.3				12.2				(25.1	)%			(81.6	)%
Other expenses			(52.1	)			(42.0	)			(46.3	)			10.4	%			(11.0	)%
Income before translation result and income tax			76.4				38.4				29.2				(24.0	)%			(61.8	)%
Translation result			(2.4	)			(1.8	)			(1.9	)			4.5	%			(21.8	)%
Income tax			(2.4	)			15.6				(3.0	)		n.m.					22.0	%
Profit for the period			71.6				52.3				24.4				(53.3	)%			(65.9	)%
ROE			28.3	%			19.3	%			8.9	%
Efficiency ratio			33.6	%			50.5	%			61.3	%

ASSETS UNDER MANAGEMENT & DEPOSITS

AUM reached US$ 8,552 million in 4Q25, a US$ 469 million or 5.8% increase QoQ, mostly explained by inflows in mutual funds, private wealth management and the acquisition of Veltria.Client deposits were S/ 2,633 million in 4Q25, a S/ 188 million or 7.1% decrease QoQ.

AUM reached US$ 8,552 million in 4Q25, a US$ 1,256 million or 17.2% increase YoY, mostly explained by inflows in mutual funds and private wealth management and the acquisition of Veltria.Client deposits were S/ 2,633 million in 4Q25, a S/ 296 million or 11.3% decrease YoY.

NET INTEREST AND SIMILAR INCOME

Net interest and similar income

Net interest and similar income		4Q24				3Q25				4Q25				%chg QoQ				%chg YoY
Interest and similar income
Due from banks and inter-bank funds			4.3				3.4				3.0				(10.1	)%			(30.0	)%
Financial Investments			13.8				13.7				13.4				(2.4	)%			(3.4	)%
Loans			24.1				22.6				20.3				(10.0	)%			(15.6	)%
Total interest and similar income			42.3				39.7				36.7				(7.4	)%			(13.1	)%
Interest and similar expenses
Deposits and obligations			(24.2	)			(22.7	)			(20.4	)			(10.2	)%			(15.8	)%
Due to banks and correspondents			(2.4	)			(3.3	)			(3.1	)			(3.6	)%			30.5	%
Total interest and similar expenses			(26.6	)			(25.9	)			(23.5	)			(9.3	)%			(11.6	)%
Net interest and similar income			15.7				13.7				13.2				(3.7	)%			(15.6	)%

Inteligo’snet interest and similar income was S/ 13.2 million in 4Q25, a S/ 1 million or 3.7% decrease when compared with 3Q25, mainly explained by lower interests in financial investments and due from banks and inter-bank funds.

Net interest and similar income decreased in S/ 2.5 million YoY or 15.6%, mainly because of lower interests in due from banks and inter-bank fund and loans.

FEE INCOME FROM FINANCIAL SERVICES

Fee income from financial services, net

Fee income from financial services, net		3Q24				2Q25				3Q25				%chg QoQ				%chg YoY
Income
Brokerage and custody services			3.6				5.3				5.5				4.4	%			51.9	%
Funds management			43.7				45.2				46.1				2.2	%			5.5	%
Total income			47.4				50.5				51.7				2.4	%			9.1	%
Expenses
Brokerage and custody services			(0.2	)			(0.2	)			(0.3	)			8.2	%			18.5	%
Others			(0.2	)			(0.2	)			(1.0	)		n.m.				n.m.
Total expenses			(0.4	)			(0.5	)			(1.2	)		n.m.				n.m.
Fee income from financial services, net			47.0				50.0				50.4				0.9	%			7.3	%

Net fee income from financial services was S/ 50.4 million in 4Q25, a S/ 0.4 million or 0.9% increase when compared with 3Q25, mainly explained by higher fees from Funds Management. This effect was mitigated due to lower exchange rates and banking services.

On a YoY basis, net fee income from financial services increased in S/ 3.4 million YoY, or 7.3%, also due to higher fees from funds management, expleined by assets under management growth in private wealth management and mutual funds.

OTHER INCOME

Other income

Other income		4Q24				3Q25				4Q25				%chg QoQ				%chg YoY
Net gain on sale of financial investments			(0.8	)			0.2				1.1			n.m.				n.m.
Net trading gain (loss)			68.3				21.0				14.7				(30.3	)%			(78.5	)%
Other			(1.2	)			(4.9	)			(3.5	)			(28.2	)%		n.m.
Total other income			66.4				16.3				12.2				(25.1	)%			(81.6	)%

Other income reached S/ 12.2 million in 4Q25, a S/ 4.1 million or 25.1% decrease QoQ due to lower mark-to-market valuations on proprietary portfolio investments.

On a YoY basis a S/ 54.2 million or 81.6% decrease due to lower mark-to-market valuations on proprietary portfolio investments and higher management fees.

OTHER EXPENSES

Other expenses

Other expenses		4Q24				3Q25				4Q25				%chg QoQ				%chg YoY
Salaries and employee benefits			(27.5	)			(25.3	)			(30.4	)			20.2	%			10.6	%
Administrative expenses			(13.7	)			(13.1	)			(14.0	)			7.3	%			2.4	%
Depreciation and amortization			(2.2	)			(2.1	)			(2.1	)			2.8	%			(1.5	)%
Other			(8.8	)			(1.6	)			0.2			n.m.				n.m.
Total other expenses			(52.1	)			(42.0	)			(46.3	)			10.4	%			(11.0	)%
Efficiency ratio			33.6	%			50.5	%			61.3	%

Other expenses reached S/ 46.3 million in 4Q25, a S/ 4.3 million or 10.4% increase QoQ mainly due to higher salaries and employee benefits expenses.

On a YoY basis a S/ 5.8 million or 11.0% decrease driven by lower risk provisions and partially offset by higher personnel expenses.

Strategy

We aim to become a leading digital platform with profitable growth. IFS has demonstrated solid performance, with a net income 49% higher than the previous year, achieving an ROE of 16.8% in 2025.

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 stood at 51, and our retail digital clients are more than 84%.

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, now ranking third 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, with 16% YoY reaching historical highs.

		4Q24				3Q25				4Q25
Digital Metrics
% Digital customers retail			81				83				84
% Digital customers commercial			73				73				74
% Digital self-service retail			78				82				82
% Digital sales retail			68				68				68
NPS Retail (points)			55				56				51
Transactional Metrics
IBK Plin transactions (millions) (*)			139				179				206
Izipay Transaction volume (S/ MM)			18,057				17,617				19,399
IBK share of Izipay transaction flows (%)			40				39				39
(*) Sent transactions

Banking & Payments

We continue to strengthen our position as a digital bank. In 2025, our banking customer base grew 3% YoY, 2.8% in retail clients and 8.7% in commercial clients. Our digital transformation strategy continues to show positive momentum, with the share of retail digital customers increasing YoY from 81% to 84%. Also, digital self-service usage among retail clients remained stable QoQ but improved from 78% last year to 82% in 2025. Additionally, retail digital sales remained stable at the level of 68% of total retail sales.

We continue to see strong performance in our payment's ecosystem with Plinand Izipay. Plin active users grew 11% YoY, while Plin transactions increased by 48% YoY. Izipay also continued to expand, with transaction volumes increasing 7% YoY. Synergies between Izipay and Interbank continue improving compared to the previous year, reinforcing our integrated payments strategy. As a result, cash flows directed to Interbank accounts through Izipay increased by 9%; as well as an increase of more than 30% in the float.

		4Q24				3Q25				4Q25
Insurance
Digital insurance premiums (S/ thousands)			27.2				32.4				33.6
% Digital Self-Service			68.9				70.9				70.9
Wealth Management
% Interfondos digital transactions			53.0				55.4				55.3
% Interfondos digital users			26.5				30.2				33.7
% Digital transactions SAB			31.6				39.0				38.8

In the insurance segment, digital adoption continued to accelerate in 4Q25. The share of digital self-service reached 70.9%, up from 68.9% a year ago, reflecting stronger engagement with online channels. As a result of this growing digital penetration, digital insurance premiums increased to S/ 33.6 millions in 4Q25, 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.

In the wealth management segment, digital engagement continued to strengthen during 4Q25. Interfondos’ digital users accounted for 33.7% of total users, up from 26.5% in 4Q24. This reflects sustained momentum in client adoption of digital investment tools and advisory services.Digital transaction penetration also improved across key platforms. In Inteligo SAB (brokerage) channel, the share of digital transactions increased to 38.8%,

up from 38.0% in 3Q25 and 31.6% in 4Q24.Similarly, digital transactions in Interfondos reached 55.3%. 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 December 31, 2025, and 2024 and for the years ended December 31, 2025 and 2024

Interim consolidated financial statements as of December 31, 2025, and 2024 and for the years ended December 31, 2025 and 2024

Content

Interim consolidated financial statements

Interim consolidated statement of financial position	3
Interim consolidated statement of income
Interim consolidated statement of other comprehensive income
Interim consolidated statement of changes in equity
Interim consolidated statement of cash flows
Notes to the interim consolidated financial statements

Intercorp Financial Services Inc. and Subsidiaries

Interim consolidated statement of financial position

As of December 31, 2025 and 2024

		Note		31.12.2025				31.12.2024
				S/(000)				S/(000)
Assets
Cash and due from banks		4(a)
Non-interest bearing					3,196,910				4,021,880
Interest bearing					9,163,129				7,973,580
Restricted funds					1,675,910				619,766
					14,035,949				12,615,226
Inter-bank funds		4(e)			40,006				220,060
Financial investments		5			28,173,806				26,857,925
Loans, net:		6
Loans, net of unearned interest					52,361,192				50,959,615
Impairment allowance for loans					(1,591,042	)			(1,730,167	)
					50,770,150				49,229,448
Investment property		7			1,540,615				1,381,788
Property, furniture and equipment, net					967,293				814,432
Due from customers on acceptances					51,332				9,163
Intangibles and goodwill, net					1,626,106				1,667,753
Other accounts receivable and other assets, net		8			1,793,116				2,670,178
Reinsurance contract assets		12			57,182				18,602
Deferred Income Tax asset, net					41,872				19,206
Total assets					99,097,427				95,503,781
Liabilities and equity
Deposits and obligations		9
Non-interest bearing					7,759,676				7,614,593
Interest bearing					48,267,954				46,153,435
					56,027,630				53,768,028
Inter-bank funds		4(e)			55,019				—
Due to banks and correspondents		10			7,166,014				7,562,057
Bonds, notes and other obligations		11			5,590,408				6,075,433
Due from customers on acceptances					51,332				9,163
Insurance and reinsurance contract liabilities		12			13,063,254				12,524,320
Other accounts payable, provisions and other liabilities		8			4,585,800				4,445,532
Deferred Income Tax liability, net					136,126				140,653
Total liabilities					86,675,583				84,525,186
Equity, net		13
Equity attributable to IFS’s shareholders:
Capital stock					1,038,017				1,038,017
Treasury stock					(469,546	)			(206,997	)
Capital surplus					532,771				532,771
Reserves					9,100,000				8,300,000
Unrealized results, net					(36,034	)			(187,830	)
Retained earnings					2,183,383				1,439,274
					12,348,591				10,915,235
Non-controlling interest					73,253				63,360
Total equity, net					12,421,844				10,978,595
Total liabilities and equity, net					99,097,427				95,503,781

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

3

4

Intercorp Financial Services Inc. and Subsidiaries

Interim consolidated statement of income

For the years ended December 31, 2025 and 2024

		Note		31.12.2025				31.12.2024
				S/(000)				S/(000)
Interest and similar income		15			6,888,377				7,029,391
Interest and similar expenses		15			(2,258,971	)			(2,480,270	)
Net interest and similar income					4,629,406				4,549,121
Impairment loss on loans, net of recoveries		6(d.1) and (d.2)			(1,136,707	)			(1,720,179	)
Loss due to impairment of financial investments		5(c) and 5(d)			(263,761	)			(47,521	)
Net interest and similar income after impairment loss					3,228,938				2,781,421
Fee income from financial services, net		16			1,219,631				1,142,943
Net gain on foreign exchange transactions					409,737				433,691
Net gain on sale of financial investments					102,055				26,544
Net gain on financial assets at fair value through profit or loss		5(e) and 10(b)			362,033				81,990
Net gain on investment property		7(b)			182,588				128,164
Other income		17			141,463				121,222
					2,417,507				1,934,554
Result from insurance activities		18			(47,797	)			(169,789	)
					(47,797	)			(169,789	)
Other expenses
Salaries and employee benefits					(1,115,613	)			(955,246	)
Administrative expenses					(1,436,828	)			(1,336,954	)
Depreciation and amortization					(450,267	)			(413,057	)
Other expenses		17			(160,497	)			(194,959	)
					(3,163,205	)			(2,900,216	)
Income before translation result and Income Tax					2,435,443				1,645,970
Exchange difference					38,004				(24,144	)
Income Tax		14(e)			(530,252	)			(314,365	)
Net profit for the year					1,943,195				1,307,461
Attributable to:
IFS’s shareholders					1,932,470				1,300,078
Non-controlling interest					10,725				7,383
					1,943,195				1,307,461
Earnings per share attributable to IFS’s shareholders, basic and diluted (in Soles)		19			17.299				11.376
Weighted average number of outstanding shares (in thousands)		19			111,713				114,287

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

5

Intercorp Financial Services Inc. and Subsidiaries

Interim consolidated statement of other comprehensive income

For the years ended December 31, 2025 and 2024

	31.12.2025				31.12.2024
	S/(000)				S/(000)
Net profit for the year		1,943,195				1,307,461
Other comprehensive income that will not be reclassified to the consolidated statement of income in subsequent periods:
Gains on valuation of equity instruments at fair value through other comprehensive income		60,738				3,048
Income Tax		9,031				(1,595	)
Total unrealized gain that will not be reclassified to the consolidated statement of income		69,769				1,453
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		898,804				286,738
Income Tax		(4,129	)			(3,595	)
		894,675				283,143
Insurance reserves at fair value		(736,366	)			(61,389	)
Net movement of cash flow hedges		46,601				(18,605	)
Income Tax		(6,588	)			1,402
		40,013				(17,203	)
Translation of foreign operations		(101,063	)			11,747
Total unrealized gain to be reclassified to the consolidated statement of income in subsequent periods		97,259				216,298
Other comprehensive income for the year		167,028				217,751
Total comprehensive income for the year, net of Income Tax		2,110,223				1,525,212
Attributable to:
IFS’s shareholders		2,097,275				1,516,304
Non-controlling interest		12,948				8,908
		2,110,223				1,525,212

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

6

Intercorp Financial Services Inc. and Subsidiaries

Interim consolidated statement of changes in equity

For the years ended December 31, 2025 and 2024

																						Attributable to IFS’s shareholders
																														Unrealized results, net
		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
		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			115,447				(967	)			1,038,017				(84,309	)			532,771				6,000,000				(64,141	)			(1,293,563	)			742,894				(31,933	)			188,950				2,921,531				9,950,217				57,884				10,008,101
Net profit for the year			—				—				—				—				—				—				—				—				—				—				—				1,300,078				1,300,078				7,383				1,307,461
Other comprehensive income			—				—				—				—				—				—				1,263				281,695				(61,299	)			(17,180	)			11,747				—				216,226				1,525				217,751
Total comprehensive income			—				—				—				—				—				—				1,263				281,695				(61,299	)			(17,180	)			11,747				1,300,078				1,516,304				8,908				1,525,212
Declared dividends and paid, Note 13(a)			—				—				—				—				—				—				—				—				—				—				—				(427,369	)			(427,369	)			—				(427,369	)
Transfer of retained earnings to reserves, Note 13(d)			—				—				—				—				—				2,300,000				—				—				—				—				—				(2,300,000	)			—				—				—
Purchase of treasury stock, Note 13(b)			—				(1,192	)			—				(122,688	)			—				—				—				—				—				—				—				—				(122,688	)			—				(122,688	)
Dividends paid to non-controlling interest of Subsidiaries			—				—				—				—				—				—				—				—				—				—				—				—				—				(3,056	)			(3,056	)
Sale of equity instruments at fair value through other comprehensive income			—				—				—				—				—				—				53,737				—				—				—				—				(53,737	)			—				—				—
Others			—				—				—				—				—				—				—				—				—				—				—				(1,229	)			(1,229	)			(376	)			(1,605	)
Balance as of December 31, 2024			115,447				(2,159	)			1,038,017				(206,997	)			532,771				8,300,000				(9,141	)			(1,011,868	)			681,595				(49,113	)			200,697				1,439,274				10,915,235				63,360				10,978,595
Net profit for the year			—				—				—				—				—				—				—				—				—				—				—				1,932,470				1,932,470				10,725				1,943,195
Other comprehensive income			—				—				—				—				—				—				69,079				892,169				(735,284	)			39,904				(101,063	)			—				164,805				2,223				167,028
Total comprehensive income			—				—				—				—				—				—				69,079				892,169				(735,284	)			39,904				(101,063	)			1,932,470				2,097,275				12,948				2,110,223
Declared dividends, Note 13(a)			—				—				—				—				—				—				—				—				—				—				—				(420,096	)			(420,096	)			—				(420,096	)
Transfer of retained earnings to reserves, Note 13(d)			—				—				—				—				—				800,000				—				—				—				—				—				(800,000	)			—				—				—
Purchase of treasury stock, Note 13(b)			—				(2,206	)			—				(262,549	)			—				—				—				—				—				—				—				—				(262,549	)			—				(262,549	)
Dividends paid to non-controlling interest of Subsidiaries			—				—				—				—				—				—				—				—				—				—				—				—				—				(3,097	)			(3,097	)
Sale of equity instruments at fair value through other comprehensive income			—				—				—				—				—				—				1,769				—				—				—				—				(1,769	)			—				—				—
Others			—				—				—				—				—				—				(14,778	)			—				—				—				—				33,504				18,726				42				18,768
Balance as of December 31, 2025			115,447				(4,365	)			1,038,017				(469,546	)			532,771				9,100,000				46,929				(119,699	)			(53,689	)			(9,209	)			99,634				2,183,383				12,348,591				73,253				12,421,844

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

7

Intercorp Financial Services Inc. and Subsidiaries

Interim consolidated statement of cash flows

For the years ended December 31, 2025 and 2024

		31.12.2025				31.12.2024
		S/(000)				S/(000)
Cash flows from operating activities
Net profit for the year			1,943,195				1,307,461
Plus (minus) adjustments to net profit
Impairment loss on loans, net of recoveries			1,136,707				1,720,179
Loss due to impairment of financial investments			263,761				47,521
Depreciation and amortization			450,267				413,057
Provision for sundry risks			2,633				29,290
Deffered Income Tax			(37,490	)			100,053
Net gain on sale of financial investments			(102,055	)			(26,544	)
Net gain on financial assets at fair value through profit or loss			(362,033	)			(81,990	)
Net gain on valuation of investment property			(101,104	)			(60,260	)
Net (gain) loss on sale of investment property			(320	)			3,176
Gain on sale of property, furniture and equipment			(2,078	)			(12,879	)
Exchange difference			(38,004	)			24,144
Decrease in accrued interest receivable			22,494				58,688
Decrease in accrued interest payable			(166,827	)			(120,753	)
Net changes in assets and liabilities
Net increase in loan portfolio			(2,692,565	)			(4,523,015	)
Net decrease (increase) in other accounts receivable and other assets			509,263				(245,377	)
Net (increase) decrease in restricted funds			(1,056,144	)			100,925
Increase in deposits and obligations			2,302,669				4,687,587
Decrease in due to banks and correspondents			(367,298	)			(1,445,205	)
Increase in other accounts payable, provisions and other liabilities			28,810				1,059,360
Decrease (increase) of investments at fair value through profit or loss			94,499				(125,386	)
Net cash provided by operating activities			1,828,380				2,910,032

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

8

Intercorp Financial Services Inc. and Subsidiaries

Interim consolidated statements of cash flows (continued)

		31.12.2025				31.12.2024
		S/(000)				S/(000)
Cash flows from investing activities
(Purchase) sale of investments at fair value through other comprehensive income and at amortized cost			(339,261	)			320,182
Purchase of property, furniture and equipment			(301,435	)			(104,719	)
Purchase of intangible assets			(221,967	)			(245,334	)
Purchase of investment property			(62,723	)			(61,812	)
Sale of investment property			—				39,176
Sale of property, furniture and equipment			3,461				45,462
Net cash used in by investing activities			(921,925	)			(7,045	)
Cash flows from financing activities
Dividends paid			(420,096	)			(427,369	)
Issuance of securities, bonds and obligations in circulation			1,624,811				1,706,371
Payments of bonds, notes and other obligations			(1,502,749	)			(1,266,504	)
Decrease in receivable inter-bank funds			180,054				304,855
Net increase (decrease) in payable inter-bank funds			55,019				(121,438	)
Purchase of treasury stock			(262,549	)			(122,688	)
Dividend payments to non-controlling interest			(3,097	)			(2,911	)
Lease payments			(83,054	)			(82,644	)
Net cash used in financing activities			(411,661	)			(12,328	)
Net increase in cash and cash equivalents			494,794				2,890,659
Translation (loss) gain on cash and cash equivalents			(124,217	)			12,496
Cash and cash equivalents at the beginning of the year			11,977,366				9,074,211
Cash and cash equivalents at the end of the year			12,347,943				11,977,366

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

9

Notes to the interim consolidated financial statements

As of December 31, 2025 and 2024

1. 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 December 31, 2025, Intercorp Peru holds directly and indirectly 74.38 percent of the issued capital stock of IFS, equivalent to 73.38 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 December 31, 2025 and 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").

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 December 31, 2025, have been approved by the Audit Committee and Board’s Meeting held on February 6 and 11, 2026, respectively. The audited consolidated financial statements as of December 31, 2024, (henceforth “Annual Consolidated Financial Statements”) were approved by the General Shareholders’ Meeting held on March 31, 2025.

2. Subsidiaries

IFS’s Subsidiaries are the following:

(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 December 31, 2025, Interbank had 146 offices (149 offices as of December 31, 2024).

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

Entity	Activity
Internacional de Títulos Sociedad Titulizadora S.A. - Intertítulos S.T.	Manages securitization funds.
Compañía de Servicios Conexos Expressnet S.A.C.	Services related to credit card transactions or products related to the brand “American Express”.

(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.

10

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 December 31, 2025 and 2024, amounted to S/95,328,000 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.

(c) Inteligo Group Corp. and Subsidiaries -

Inteligo is incorporated in the Republic of Panama. As of December 31, 2025 and 2024, holds 100 percent of the shares of the following Subsidiaries:

Entity	Activity
Inteligo Bank Ltd.	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.
Inteligo Sociedad Agente de Bolsa S.A.	Brokerage firm incorporated in Peru.
Inteligo Peru Holding S.A.C.	Financial holding company incorporated in Peru. As of December 31, 2025 and 2024, it holds 99.99 percent interest in Interfondos S.A. Sociedad Administradora de Fondos, company that manages mutual funds and investment funds.
Inteligo USA, Inc.	Incorporated in the United States of America, provides investment consultancy and related services.

Veltria Advisors Corp. Incorporated in the United States of America, provides investment advice.

(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 December 31, 2025 and 2024, Negocios e Inmuebles S.A., holds 8.50 percent of Interseguro’s capital stock.

(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.

(f) IFS Management S.A.C. –

IFS Management is incorporated in Peru. Its corporate purpose is to provide all types of management, strategic planning, financial, accounting, legal, and other services. It may also acquire all types of assets and enter into all types of contracts to carry out its corporate purpose.

(g) 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.

11

3. Significant accounting policies

3.1 Basis of presentation and use of estimates –

The interim consolidated financial statements as of December 31, 2025 and 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 Annual Consolidated Financial Statements as of December 31, 2024.

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.

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 described in Note 3.3 to the Annual Consolidated Financial Statements and has not changed since then.

12

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

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

		31.12.2025				31.12.2024
		S/(000)				S/(000)
Cash and clearing (b)			2,348,756				2,853,187
Deposits in the BCRP (b)			8,490,566				7,333,818
Deposits in banks (c)			1,508,621				1,790,361
Total cash and cash equivalent			12,347,943				11,977,366
Accrued interest			12,096				18,094
Restricted funds (d)			1,675,910				619,766
Total			14,035,949				12,615,226

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

(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:

		31.12.2025				31.12.2024
		S/(000)				S/(000)
Legal reserve (*)
Deposits in the BCRP			6,149,956				5,969,218
Cash in vaults			2,056,545				2,644,386
Subtotal legal reserve			8,206,501				8,613,604
Non-mandatory reserve
Overnight deposits in BCRP (**)			1,580,610				564,600
Term deposits in BCRP (***)			760,000				800,000
Cash and clearing			292,157				208,548
Subtotal non-mandatory reserve			2,632,767				1,573,148
Cash balances not subject to legal reserve			54				253
Total			10,839,322				10,187,005

(*) 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 December 31, 2025 and 2024, the Group presented only excess in foreign currency that accrued interest in US Dollars at an annual average rate of 3.25 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 December 31, 2025, corresponds to one overnight deposit in foreign currency for US$470,000,000 (approximately equivalent to S/1,580,610,000), with maturity in the first days of January 2026, and accrued interest at an annual interest rate of 3.57 percent (as of December 31, 2024, corresponded to one 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, 2025, corresponds to an overnight deposit in local currency, with maturity in January 2026, which accrued interest at an annual interest rate of 4.00 percent (as of December 31, 2024, corresponded to five

13

overnight deposits in local currency, with maturity in the first days of January 2025, and accrued interest at an average annual interest rate of 4.83 percent).

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

(d) The Group maintains restricted funds related to:

		31.12.2025				31.12.2024
		S/(000)				S/(000)
Inter-bank transfers (*)			1,142,857				596,648
Repurchase agreements with the BCRP (**)			438,436				—
Derivative financial instruments, Note 8(b)			93,021				21,568
Others			1,596				1,550
Total			1,675,910				619,766

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

(**) As of December 31, 2025, corresponds to deposits in the BCRP that guarantee loans with said entity, see Note 10(b).

(e) Inter-bank funds

These are loans made between financial institutions with maturity, in general, minor than 30 days. As of December 31, 2025, Inter-bank funds’ assets accrue interest at an annual rate between 4.25 and 4.30 percent in local 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 December 31, 2025, Inter-bank funds liabilities accrue interest at an annual rate of 4.25 percent in local currency.

5. Financial investments

(a) This caption is made up as follows:

		31.12.2025				31.12.2024
		S/(000)				S/(000)
Debt instruments measured at fair value through other comprehensive income (b) and (c)			21,299,397				20,377,805
Investments at amortized cost (d)			3,883,579				3,784,912
Investments at fair value through profit or loss (e)			1,965,991				1,776,567
Equity instruments measured at fair value through other comprehensive income (f)			556,149				458,268
Total financial investments			27,705,116				26,397,552
Accrued income
Debt instruments measured at fair value through other comprehensive income (b)			363,254				347,087
Investments at amortized cost (d)			105,436				113,286
Total			28,173,806				26,857,925

14

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

						Unrealized gross amount														Annual effective interest rates
		Amortized												Estimated						S/								US$
		cost				Gains				Losses (c)				fair value				Maturity		Min				Max				Min				Max
		S/(000)				S/(000)				S/(000)				S/(000)						%				%				%				%
As of December 31, 2025
Corporate, leasing and subordinated bonds			9,669,217				40,067				(505,634	)			9,203,650			Jan-26 / Feb-97			3.09				27.74				3.23				18.64
Sovereign Bonds of the Republic of Peru			8,855,018				91,817				(36,827	)			8,910,008			Aug-26 / Feb-55			2.08				6.58				—				—
Negotiable Certificates of Deposit issued by the Central Reserve Bank of Peru			2,057,974				15				(297	)			2,057,692			Jan-26 / Jun-26			3.96				4.04				—				—
Global Bonds of the Republic of Peru			550,343				—				(2,303	)			548,040			Jan-26 / Nov-50			—				—				3.96				10.58
Bonds guaranteed by the Peruvian Government			473,317				10,036				—				483,353			Apr-28 / Oct-33			3.35				4.30				5.66				6.64
Treasury Bonds of the United States of America			62,364				81				(2,171	)			60,274			Jun-26 / Nov-55			—				—				3.84				4.84
Global Bonds of the United States of Mexico			26,562				165				(1,727	)			25,000			May-31 / Feb-34			—				—				4.98				5.62
Global Bonds of the Republic of Chile			11,357				87				(64	)			11,380			Jan-29 / Jan-32			—				—				4.13				4.55
Total			21,706,152				142,268				(549,023	)			21,299,397
Accrued interest															363,254
Total															21,662,651
						Unrealized gross amount														Annual effective interest rates
		Amortized												Estimated						S/								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			9,867,060				111,866				(805,981	)			9,172,945			Jan-25 / Feb-97			2.20				14.00				3.70				10.86
Sovereign Bonds of the Republic of Peru			8,331,426				24,387				(410,536	)			7,945,277			Aug-26 / Feb-55			2.81				7.12			-				-
Negotiable Certificates of Deposit issued by the Central Reserve Bank of Peru			2,113,571				370				(17	)			2,113,924			Jan-25 / Jun-25			4.51				4.68			-				-
Bonds guaranteed by the Peruvian Government			554,359				6,798				(4,603	)			556,554			Apr-28 / Oct-33			3.65				4.74				6.37				7.22
Global Bonds of the Republic of Peru			548,697				—				(27,058	)			521,639			Jul-25 / Nov-50		-				-					5.00				6.14
Treasury Bonds of the United States of America			57,607				—				(5,082	)			52,525			Nov-31 / Aug-34		-				-					4.46				4.53
Global Bonds of the United States of Mexico			18,100				—				(3,159	)			14,941			Feb-34		-				-					6.51				6.51
Total			21,490,820				143,421				(1,256,436	)			20,377,805
Accrued interest															347,087
Total															20,724,892

15

(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:

		31.12.2025				31.12.2024
		S/(000)				S/(000)
Expected credit loss at the beginning of the year			95,090				61,046
New assets originated or purchased			2,136				1,095
Assets derecognized or matured (excluding write-offs)			(3,197	)			(3,915	)
Effect on the expected credit loss due to the change of the stage during the year			61,184				8,958
Loss for impairment			202,325				37,325
Others			1,313				4,058
Movement of the year			263,761				47,521
Write-offs			(69,666	)			(13,043	)
Effect of foreign exchange variation			(2,043	)			(434	)
Expected credit loss at the end of the year			287,142				95,090

(d) As of December 31, 2025, investments at amortized cost corresponds mainly to Sovereign Bonds of the Republic of Peru issued in Soles for an amount of S/3,848,175,000, including accrued interest of S/97,662,000 (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 December 31, 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/4,026,559,000 (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 December 31, 2025, term deposits mainly issued in local currency are held, for an amount of S/140,840,000, including accrued interest amounting to S/7,774,000 (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 December 31, 2025, the maturity of these investments fluctuates between January 2026 and February 2029, have accrued interest at effective annual rates between 3.00 percent and 5.00 percent, and their fair value amounts to approximately S/140,840,000 (as of December 31, 2024, the maturity of these investments fluctuated 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 amounted 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.

16

As of December 31, 2025 and 2024, Interbank holds loans with the BCRP that are guaranteed with these sovereign bonds, classified as restricted, for approximately S/1,436,030,000 and S/1,861,524,000, respectively, see Note 10(a).

As of December 31, 2025 and 2024, Interbank holds loans with foreign banks that are guaranteed with these sovereign bonds, classified as restricted, for approximately S/424,005,000 and S/435,242,000, respectively; see Note 10(a).

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

		31.12.2025				31.12.2024
		S/(000)				S/(000)
Equity instruments
Local and foreign mutual funds and investment funds participations			1,726,722				1,396,582
Listed shares			60,334				202,054
Non-listed shares			174,143				154,856
Debt instruments
Corporate, leasing and subordinated bonds			4,090				2,172
Sovereign Bonds of the Republic of Peru			702				8,538
Sovereign Bonds issued by foreign governments			—				2,431
Negotiable Certificates of Deposits issued by the BCRP			—				9,934
Total			1,965,991				1,776,567

As of December 31, 2025 and 2024, investments at fair value through profit or loss include investments held for trading for approximately S/163,645,000 and S/152,755,000, respectively; and those assets that are necessarily measured at fair value through profit or loss for approximately S/1,802,346,000 and S/1,623,812,000, respectively.

(f) The composition of equity instruments measured at fair value through other comprehensive income is as follow:

		31.12.2025				31.12.2024
		S/(000)				S/(000)
Listed shares			522,380				420,474
Non-listed shares			33,769				37,794
Total			556,149				458,268

As of December 31, 2025 and 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.

17

(g) Below are the debt instruments measured at fair value through other comprehensive income and at amortized cost, classified by stages, according to the definition by IFRS 9 as of December 31, 2025 and 2024:

		31.12.2025
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)
Corporate, leasing and subordinated bonds			12,660,521				—				—				12,660,521
Sovereign Bonds of the Republic of Peru			8,697,691				502,423				3,536				9,203,650
Negotiable Certificates of Deposit issued by the BCRP			2,057,692				—				—				2,057,692
Global Bonds of the Republic of Peru			548,040				—				—				548,040
Bonds guaranteed by the Peruvian government			483,353				—				—				483,353
Treasury Bonds of the United States of America			60,274				—				—				60,274
Global Bonds of the United States of Mexico			25,000				—				—				25,000
Global Bonds of the Republic of Chile			11,380				—				—				11,380
Term deposits			133,066				—				—				133,066
Total			24,677,017				502,423				3,536				25,182,976
		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			11,643,674				—				—				11,643,674
Corporate, leasing and subordinated bonds			8,126,895				1,046,050				—				9,172,945
Negotiable Certificates of Deposit issued by the BCRP			2,113,924				—				—				2,113,924
Bonds guaranteed by the Peruvian government			556,554				—				—				556,554
Global Bonds of the Republic of Peru			521,639				—				—				521,639
Treasury Bonds of the United States of America			52,525				—				—				52,525
Global Bonds of the United States of Mexico			14,941				—				—				14,941
Term deposits			86,515				—				—				86,515
Total			23,116,667				1,046,050				—				24,162,717

18

6. Loans, net

(a) This caption is made up as follows:

		31.12.2025				31.12.2024
		S/(000)				S/(000)
Direct loans (*)
Loans (**)			39,573,400				38,456,682
Credit cards and other loans (***)			5,564,477				5,386,427
Leasing			1,704,520				1,584,357
Discounted notes			1,983,607				1,706,886
Factoring			1,273,562				1,410,968
Advances and overdrafts			32,078				101,848
Refinanced loans			467,669				449,438
Past due and under legal collection loans			1,230,619				1,318,758
			51,829,932				50,415,364
Plus (minus)
Accrued interest from performing loans			544,571				569,384
Unearned interest and interest collected in advance			(13,311	)			(25,133	)
Impairment allowance for loans (d)			(1,591,042	)			(1,730,167	)
Total direct loans, net			50,770,150				49,229,448
Indirect loans			5,567,722				5,068,694

(*) 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 December 31, 2025 amounts to S/128,116,000, including accrued interest for S/47,970,000; S/20,200,000 being the amount covered by the guarantee of the Peruvian Government (as of December 31, 2024 amounted 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 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/123,772,000, 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 December 31, 2025 and 2024, it includes non-revolving consumer loans for approximately S/2,648,176,000 and S/2,666,284,000, respectively.

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

		31.12.2025				31.12.2024
		S/(000)				S/(000)
Commercial loans (c.1)			22,897,732				22,770,495
Consumer loans (c.1)			15,248,665				15,036,411
Mortgage loans (c.1)			11,400,784				10,571,300
Small and micro-business loans (c.1)			2,282,751				2,037,158
Total			51,829,932				50,415,364

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 characteristic. 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).

19

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

		31.12.2025																31.12.2024
Direct loans, (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			34,551,825				165,769				—				34,717,594				32,184,807				340,472				—				32,525,279
Standard grade			7,309,766				1,331,109				—				8,640,875				8,332,692				1,513,955				—				9,846,647
Substandard grade			3,499,980				1,677,609				—				5,177,589				2,705,012				1,582,401				—				4,287,413
Past due but not impaired			1,234,628				903,889				—				2,138,517				1,335,553				1,172,779				—				2,508,332
Impaired
Individually			—				—				22,928				22,928				—				—				23,214				23,214
Collectively			—				—				1,132,429				1,132,429				—				—				1,224,479				1,224,479
Total direct loans			46,596,199				4,078,376				1,155,357				51,829,932				44,558,064				4,609,607				1,247,693				50,415,364

		31.12.2025																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 S/(000)				Stage 2 S/(000)				Stage 3 S/(000)				Total S/(000)				Stage 1 S/(000)				Stage 2 S/(000)				Stage 3 S/(000)				Total S/(000)
Not impaired
High grade			3,488,080				126,184				—				3,614,264				3,434,095				31,240				—				3,465,335
Standard grade			841,497				243,410				—				1,084,907				1,055,740				118,821				—				1,174,561
Substandard grade			683,009				168,619				—				851,628				272,352				132,498				—				404,850
Past due but not impaired			—				—				—				—				—				—				—				—
Impaired
Individually			—				—				6,182				6,182				—				—				6,181				6,181
Collectively			—				—				10,741				10,741				—				—				17,767				17,767
Total indirect loans			5,012,586				538,213				16,923				5,567,722				4,762,187				282,559				23,948				5,068,694

20

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

		31.12.2025																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			12,679,767				124,088				—				12,803,855				11,636,968				290,927				—				11,927,895
Standard grade			4,979,506				1,005,364				—				5,984,870				6,274,653				1,024,426				—				7,299,079
Substandard grade			2,544,331				479,201				—				3,023,532				1,749,950				356,019				—				2,105,969
Past due but not impaired			582,186				222,031				—				804,217				770,026				345,062				—				1,115,088
Impaired
Individually			—				—				22,928				22,928				—				—				23,214				23,214
Collectively			—				—				258,330				258,330				—				—				299,250				299,250
Total direct loans			20,785,790				1,830,684				281,258				22,897,732				20,431,597				2,016,434				322,464				22,770,495

		31.12.2025																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			11,610,675				16,887				—				11,627,562				10,914,268				28,813				—				10,943,081
Standard grade			963,916				183,453				—				1,147,369				1,210,504				320,220				—				1,530,724
Substandard grade			676,148				798,920				—				1,475,068				593,507				765,324				—				1,358,831
Past due but not impaired			140,200				386,405				—				526,605				180,748				508,336				—				689,084
Impaired
Individually			—				—				—				—				—				—				—				—
Collectively			—				—				472,061				472,061				—				—				514,691				514,691
Total direct loans			13,390,939				1,385,665				472,061				15,248,665				12,899,027				1,622,693				514,691				15,036,411

21

		31.12.2025																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			9,092,721				24,178				—				9,116,899				8,407,045				20,165				—				8,427,210
Standard grade			611,790				7,361				—				619,151				528,923				3,714				—				532,637
Substandard grade			251,017				364,017				—				615,034				318,802				400,671				—				719,473
Past due but not impaired			455,704				246,961				—				702,665				322,348				244,537				—				566,885
Impaired
Individually			—				—				—				—				—				—				—				—
Collectively			—				—				347,035				347,035				—				—				325,095				325,095
Total direct loans			10,411,232				642,517				347,035				11,400,784				9,577,118				669,087				325,095				10,571,300

		31.12.2025																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			1,168,662				616				—				1,169,278				1,226,526				567				—				1,227,093
Standard grade			754,554				134,931				—				889,485				318,612				165,595				—				484,207
Substandard grade			28,484				35,471				—				63,955				42,753				60,387				—				103,140
Past due but not impaired			56,538				48,492				—				105,030				62,431				74,844				—				137,275
Impaired
Individually			—				—				—				—				—				—				—				—
Collectively			—				—				55,003				55,003				—				—				85,443				85,443
Total direct loans			2,008,238				219,510				55,003				2,282,751				1,650,322				301,393				85,443				2,037,158

22

(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

		31.12.2025																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
		S/(000)				S/(000)				S/(000)				S/(000)				S/(000)				S/(000)				S/(000)				S/(000)
Expected credit loss at beginning of period			439,324				566,636				724,207				1,730,167				545,242				970,271				—				1,515,513
Impact of the expected credit loss on the consolidated statement of income -
New originated or purchased assets			310,338				—				—				310,338				345,800				—				—				345,800
Assets matured or derecognized (excluding write-offs)			(116,804	)			(99,816	)			(34,928	)			(251,548	)			(117,510	)			(24,285	)			—				(141,795	)
Transfers to Stage 1			97,781				(97,304	)			(477	)			—				115,241				(1,219	)			—				114,022
Transfers to Stage 2			(129,357	)			136,890				(7,533	)			—				(142,315	)			(7,448	)			—				(149,763	)
Transfers to Stage 3			(43,195	)			(133,413	)			176,608				—				(88,212	)			468,777				—				380,565
Impact on the expected credit loss for credits that change stage in the period			(84,502	)			114,762				776,733				806,993				(98,820	)			1,476,103				—				1,377,283
Others			(28,050	)			(18,045	)			318,892				272,797				(120,334	)			185,680				—				65,346
Total			6,211				(96,926	)			1,229,295				1,138,580				(106,150	)			2,097,608				—				1,991,458
Write-offs			—				—				(1,424,484	)			(1,424,484	)			—				(2,524,919	)			—				(2,524,919	)
Recovery of written–off loans			—				—				158,309				158,309				—				179,683				—				179,683
Foreign exchange effect			(594	)			(1,042	)			(9,894	)			(11,530	)			232				1,564				—				1,796
Expected credit loss at the end of period			444,941				468,668				677,433				1,591,042				439,324				724,207				—				1,163,531

23

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

		31.12.2025																31.12.2024
Commercial loans		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)
Expected credit loss at beginning of period			16,640				36,158				123,013				175,811				51,611				162,385				—				213,996
Impact of the expected credit loss on the consolidated statement of income -
New originated or purchased assets			16,027				—				—				16,027				35,739				—				—				35,739
Assets derecognized or matured (excluding write-offs)			(12,461	)			(15,076	)			(5,456	)			(32,993	)			(27,765	)			(4,083	)			—				(31,848	)
Transfers to Stage 1			3,401				(3,401	)			—				—				5,405				—				—				5,405
Transfers to Stage 2			(9,071	)			9,235				(164	)			—				(20,669	)			(762	)			—				(21,431	)
Transfers to Stage 3			(668	)			(1,585	)			2,253				—				(2,208	)			16,779				—				14,571
Impact on the expected credit loss for credits that change stage in the period			(3,310	)			(970	)			(20,104	)			(24,384	)			(4,722	)			12,108				—				7,386
Others			(4,148	)			(4,805	)			88,717				79,764				(20,973	)			9,402				—				(11,571	)
Total			(10,230	)			(16,602	)			65,246				38,414				(35,193	)			33,444				—				(1,749	)
Write-offs			—				—				(48,668	)			(48,668	)			—				(78,217	)			—				(78,217	)
Recovery of written–off loans			—				—				5,970				5,970				—				4,254				—				4,254
Foreign exchange effect			(537	)			(508	)			(7,693	)			(8,738	)			222				1,147				—				1,369
Expected credit loss at the end of period			5,873				19,048				137,868				162,789				16,640				123,013				—				139,653

24

		31.12.2025																31.12.2024
Consumer loans		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)
Expected credit loss at beginning of period			403,740				474,416				494,700				1,372,856				466,606				682,417				—				1,149,023
Impact of the expected credit loss on the consolidated statement of income -
New originated or purchased assets			259,855				—				—				259,855				219,439				—				—				219,439
Assets derecognized or matured (excluding write-offs)			(86,482	)			(68,352	)			(11,918	)			(166,752	)			(75,335	)			(8,120	)			—				(83,455	)
Transfers to Stage 1			76,844				(76,388	)			(456	)			—				96,900				(1,005	)			—				95,895
Transfers to Stage 2			(111,242	)			113,341				(2,099	)			—				(101,634	)			(2,390	)			—				(104,024	)
Transfers to Stage 3			(39,809	)			(121,804	)			161,613				—				(73,066	)			411,355				—				338,289
Impact on the expected credit loss for credits that change stage in the period			(64,694	)			104,535				756,567				796,408				(81,900	)			1,369,154				—				1,287,254
Others			(36,907	)			(10,020	)			208,300				161,373				(47,271	)			188,121				—				140,850
Total			(2,435	)			(58,688	)			1,112,007				1,050,884				(62,867	)			1,957,115				—				1,894,248
Write-offs			—				—				(1,293,275	)			(1,293,275	)			—				(2,310,032	)			—				(2,310,032	)
Recovery of written–off loans			—				—				140,034				140,034				—				165,081				—				165,081
Foreign exchange effect			(3	)			(378	)			(534	)			(915	)			1				119				—				120
Expected credit loss at the end of period			401,302				415,350				452,932				1,269,584				403,740				494,700				—				898,440

25

		31.12.2025																31.12.2024
Mortgage loans		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)
Expected credit loss at beginning of period			5,523				43,956				44,321				93,800				6,794				54,651				—				61,445
Impact of the expected credit loss on the consolidated statement of income -
New originated or purchased assets			3,971				—				—				3,971				4,114				—				—				4,114
Assets derecognized or matured (excluding write-offs)			(392	)			(2,683	)			(9,517	)			(12,592	)			(429	)			(9,267	)			—				(9,696	)
Transfers to Stage 1			14,968				(14,968	)			—				—				9,983				—				—				9,983
Transfers to Stage 2			(1,733	)			6,976				(5,243	)			—				(2,348	)			(4,203	)			—				(6,551	)
Transfers to Stage 3			(1,638	)			(2,492	)			4,130				—				(2,025	)			5,167				—				3,142
Impact on the expected credit loss for credits that change stage in the period			(14,506	)			4,126				9,761				(619	)			(9,606	)			15,411				—				5,805
Others			1,299				(12,441	)			7,807				(3,335	)			(969	)			(15,977	)			—				(16,946	)
Total			1,969				(21,482	)			6,938				(12,575	)			(1,280	)			(8,869	)			—				(10,149	)
Write-offs			—				—				(3,696	)			(3,696	)			—				(1,755	)			—				(1,755	)
Recovery of written–off loans			—				—				—				—				—				—				—				—
Foreign exchange effect			(45	)			(91	)			(1,557	)			(1,693	)			9				294				—				303
Expected credit loss at the end of period			7,447				22,383				46,006				75,836				5,523				44,321				—				49,844

26

		31.12.2025																31.12.2024
Small and micro-business loans		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)
Expected credit loss at beginning of period			13,421				12,106				62,173				87,700				20,231				70,818				—				91,049
Impact of the expected credit loss on the consolidated statement of income -
New originated or purchased assets			30,485				—				—				30,485				86,508				—				—				86,508
Assets derecognized or matured (excluding write-offs)			(17,469	)			(13,705	)			(8,037	)			(39,211	)			(13,981	)			(2,815	)			—				(16,796	)
Transfers to Stage 1			2,568				(2,547	)			(21	)			—				2,953				(214	)			—				2,739
Transfers to Stage 2			(7,311	)			7,338				(27	)			—				(17,664	)			(93	)			—				(17,757	)
Transfers to Stage 3			(1,080	)			(7,532	)			8,612				—				(10,913	)			35,476				—				24,563
Impact on the expected credit loss for credits that change stage in the period			(1,992	)			7,071				30,509				35,588				(2,592	)			79,430				—				76,838
Others			11,706				9,221				14,068				34,995				(51,121	)			4,134				—				(46,987	)
Total			16,907				(154	)			45,104				61,857				(6,810	)			115,918				—				109,108
Write-offs			—				—				(78,845	)			(78,845	)			—				(134,915	)			—				(134,915	)
Recovery of written–off loans			—				—				12,305				12,305				—				10,348				—				10,348
Foreign exchange effect			(9	)			(65	)			(110	)			(184	)			—				4				—				4
Expected credit loss at the end of period			30,319				11,887				40,627				82,833				13,421				62,173				—				75,594

27

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

		31.12.2025																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
		S/(000)				S/(000)				S/(000)				S/(000)				S/(000)				S/(000)				S/(000)				S/(000)
Expected credit loss at beginning of period			2,663				2,250				9,335				14,248				6,624				3,939				7,369				17,932
Impact of the expected credit loss on the consolidated statement of income -
New originated or purchased assets			1,663				—				—				1,663				2,110				—				—				2,110
Assets derecognized or matured			(1,218	)			(760	)			(1,262	)			(3,240	)			(3,275	)			(1,484	)			(330	)			(5,089	)
Transfers to Stage 1			144				(144	)			—				—				1,265				(1,265	)			—				—
Transfers to Stage 2			(626	)			668				(42	)			—				(697	)			961				(264	)			—
Transfers to Stage 3			(154	)			(7	)			161				—				(229	)			(91	)			320				—
Impact on the expected credit loss for credits that change stage in the period			(84	)			355				369				640				(1,001	)			(109	)			1,202				92
Others			(376	)			(90	)			(470	)			(936	)			(2,155	)			294				1,035				(826	)
Total			(651	)			22				(1,244	)			(1,873	)			(3,982	)			(1,694	)			1,963				(3,713	)
Foreign exchange effect			(14	)			(4	)			(2	)			(20	)			21				5				3				29
Expected credit loss at the end of period, Note 8(a)			1,998				2,268				8,089				12,355				2,663				2,250				9,335				14,248

28

7. Investment property

(a) This caption is made up as follows:

		31.12.2025				31.12.2024				Acquisition or construction year		Valuation methodology
		S/(000)				S/(000)
Land (i)
San Isidro – Lima			282,247				279,775			2009		Appraisal
Pardo (Vivanda)			127,278				68,200			2021		Appraisal/Cost
San Martín de Porres – Lima			86,084				80,389			2015		Appraisal
Nuevo Chimbote			38,133				37,382			2021		Appraisal
Ate Vitarte – Lima			33,621				32,195			2006		Appraisal
Santa Clara – Lima			28,907				28,613			2017		Appraisal
Others			34,456				33,982			-		Appraisal/Cost
			630,726				560,536
Completed investment property - “Real Plaza” shopping malls (i)
Talara			27,063				26,720			2015		DCF
			27,063				26,720
Buildings (i)
Orquideas - San Isidro – Lima			160,093				150,718			2017		DCF
Ate Vitarte – Lima			155,275				133,768			2006		DCF
Chorrillos – Lima			110,166				95,849			2017		DCF
Piura			105,108				94,907			2020		DCF
Paseo del Bosque			100,392				100,023			2021		DCF
Chimbote			55,577				48,690			2015		DCF
Maestro-Huancayo			40,309				35,004			2017		DCF
Cuzco			35,895				29,843			2017		DCF
Panorama – Lima			25,886				22,474			2016		DCF
Others			94,125				83,256			-		DCF/Appraisal
			882,826				794,532
Total			1,540,615				1,381,788

DCF: Discounted cash flow

(i) As of December 31, 2025 and 2024, there are no liens on investment property.

(b) The net gain on investment properties as of December 31, 2025 and 2024, consists of the following:

		31.12.2025				31.12.2024
		S/(000)				S/(000)
Gain on valuation			101,104				60,260
Income from rental			81,164				71,080
Gain (loss) on sale			320				(3,176	)
Total gain, net			182,588				128,164

29

(c) The movement of investment property for the years ended December 31, 2025 and 2024, is as follows:

		31.12.2025				31.12.2024
		S/(000)				S/(000)
Balance at the beginning of year			1,381,788				1,298,892
Additions			62,723				61,812
Sales			—				(39,176	)
Gain on valuation			101,104				60,260
Net transfers			(5,000	)			—
Balance at the end of the year			1,540,615				1,381,788

30

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

(a) These captions are comprised of the following:

		31.12.2025				31.12.2024
		S/(000)				S/(000)
Other accounts receivable and other assets
Financial instruments
Other accounts receivable, net			485,904				540,883
POS commission receivable			250,501				390,126
Accounts receivable from sale of investments			222,002				432,341
Operations in process			162,517				149,105
Accounts receivable related to derivative financial instruments (b)			120,878				143,201
Accounts receivable from short sale operations			—				61,191
Others			25,654				14,954
			1,267,456				1,731,801
Non-financial instruments
Tax paid to recover			212,032				673,786
Deferred charges			139,215				99,776
Tax credit for General Sales Tax - IGV			59,990				35,391
Deferred cost of POS affiliation and registration			58,243				85,006
Investments in associates			27,257				24,795
POS equipment supplies			12,729				12,966
Assets received as payment and seized through legal actions			5,741				4,158
Others			10,453				2,499
			525,660				938,377
Total			1,793,116				2,670,178

31

		31.12.2025				31.12.2024
		S/(000)				S/(000)
Other accounts payable, provisions and other liabilities
Financial instruments
Insurance contract liability with investment component			2,144,131				1,308,422
Other accounts payable			665,537				665,296
Third party compensation (*)			496,426				866,665
Operations in process			354,032				556,543
Accounts payable related to derivative financial instruments (b)			207,084				102,288
Workers’ profit sharing and salaries payable			171,282				109,395
Accounts payable for purchase of investments			167,301				353,787
Lease liabilities			144,245				143,803
Accounts payable to reinsurers and coinsurers			16,776				6,354
Allowance for indirect loan losses, Note 6(d.2)			12,355				14,248
Financial liabilities at fair value through profit or loss			—				61,153
			4,379,169				4,187,954
Non-financial instruments
Taxes payable			99,076				87,262
Provision for other contingencies			44,238				107,078
Deferred income (**)			41,382				36,394
Registration for use of POS			8,620				18,005
Others			13,315				8,839
			206,631				257,578
Total			4,585,800				4,445,532

(*) 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.

32

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

		Assets				Liabilities				Notional amount				Effective part recognized in other comprehensive income during the year				Maturity		Hedged instruments		Caption of the consolidated statement of financial position where the hedged item has been recognized
As of December 31, 2025		S/(000)				S/(000)				S/(000)				S/(000)
Derivatives held for trading -
Forward exchange contracts			82,297				34,856				7,055,166				—			Between January 2026 and February 2027		-		-
Interest rate swaps			20,095				11,332				3,418,425				—			Between January 2026 and June 2036		-		-
Cross swaps			6,138				22,626				781,183				—			Between January 2026 and December 2030		-		-
Options			—				—				1,920				—			Between January 2026 and December 2030		-		-
			108,530				68,814				11,256,694				—
Derivatives held as hedges - Cash flow hedges:
Cross currency swaps (CCS)			—				97,344				1,008,900				14,700			October 2026		Corporate bonds		Bonds, notes and obligations outstanding
Cross currency swaps (CCS)			12,348				—				505,200				18,225			October 2027		Senior bond		Bonds, notes and obligations outstanding
Cross currency swaps (CCS)			—				7,403				168,150				(44	)		October 2027		Due to banks		Due to banks and correspondents
Cross currency swaps (CCS)			—				8,178				168,150				(141	)		September 2027		Due to banks		Due to banks and correspondents
Cross currency swaps (CCS)			—				10,852				67,360				2,669			October 2027		Senior bond		Bonds, notes and obligations outstanding
Cross currency swaps (CCS)			—				10,892				67,360				2,545			October 2027		Senior bond		Bonds, notes and obligations outstanding
Cross currency swaps (CCS)			—				3,601				33,680				829			October 2027		Senior bond		Bonds, notes and obligations outstanding
Cross currency swaps (CCS)			—				—				—				596			-		Due to banks		Due to banks and correspondents
Cross currency swaps (CCS)			—				—				—				492			-		Due to banks		Due to banks and correspondents
Cross currency swaps (CCS)			—				—				—				33			-		Due to banks		Due to banks and correspondents
			12,348				138,270				2,018,800				39,904
			120,878				207,084				13,275,494				39,904

33

		Assets				Liabilities				Notional amount				Effective part recognized in other comprehensive income during the year				Maturity		Hedged 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			22,336				45,012				7,092,071				—			Between January 2025 and June 2026		-		-
Cross swaps			11,593				13,277				1,899,348				—			Between January 2025 and November 2029		-		-
Interest rate swaps			38,817				28,812				1,742,139				—			Between January 2025 and June 2036		-		-
Options			—				—				2,518				—			Between January 2025 and July 2025		-		-
			72,746				87,101				10,736,076				—
Derivatives held as hedges- Cash flow hedges:
Cross currency swaps (CCS)			5,953				3,415				1,129,200				(6,754	)		October 2026		Corporate bonds		Bonds, notes and obligations outstanding
Cross currency swaps (CCS)			54,218				—				565,500				(10,463	)		October 2027		Senior bond		Bonds, notes and obligations outstanding
Cross currency swaps (CCS)			3,168				—				188,200				1,002			June 2025		Due to banks		Due to banks and correspondents
Cross currency swaps (CCS)			—				404				188,200				742			May 2025		Due to banks		Due to banks and correspondents
Cross currency swaps (CCS)			—				5,518				75,400				(1,418	)		October 2027		Senior bond		Bonds, notes and obligations outstanding
Cross currency swaps (CCS)			—				5,433				75,400				(1,537	)		October 2027		Senior bond		Bonds, notes and obligations outstanding
Cross currency swaps (CCS)			7,116				—				75,280				588			February 2025		Due to banks		Due to banks and correspondents
Cross currency swaps (CCS)			—				417				37,700				(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
			70,455				15,187				2,334,880				(17,180	)
			143,201				102,288				13,070,956				(17,180	)

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

(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 December 31, 2025 and 2024. During 2025 and 2024, there were no discontinued hedges accounting.

(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.

34

9. Deposits and obligations

(a) This caption is made up as follows:

		31.12.2025				31.12.2024
		S/(000)				S/(000)
Saving deposits			21,934,950				19,411,720
Time deposits			19,243,949				19,891,128
Demand deposits			14,084,761				13,746,684
Compensation for service time			756,949				711,806
Other obligations			7,021				6,690
Total			56,027,630				53,768,028

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

(c) As of December 31, 2025 and 2024, deposits and obligations of approximately S/22,138,836,000 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/116,700 and S/121,600, respectively.

10. Due to banks and correspondents

(a) This caption is comprised of the following:

		31.12.2025				31.12.2024
		S/(000)				S/(000)
By type -
Banco Central de Reserva del Peru (b)			1,781,905				1,756,687
Promotional credit lines			1,975,589				2,090,825
Loans received from foreign entities			3,223,243				3,304,169
Loans received from Peruvian entities			122,777				332,165
			7,103,514				7,483,846
Interest and commissions payable			62,500				78,211
			7,166,014				7,562,057
By term -
Short term			4,494,183				3,586,376
Long term			2,671,831				3,975,681
Total			7,166,014				7,562,057

(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 December 31, 2024, Interbank maintains this type of operations guaranteed by a loan portfolio for approximately S/123,772,000. See Note 6(a).

35

11. Bonds, notes and other obligations

(a) This caption is comprised of the following:

Issuance		Issuer		Annual interest rate		Payment frequency		Maturity				Amount issued				31.12.2025				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					116,965				130,912
Third - single series		Interseguro		4.84375%		Semi-annually			2030			US$25,000					—				94,100
																	116,965				225,012
Subordinated bonds – fourth program
First (A series)		Interseguro		6.75%		Semi-annually			2034			US$28,706					96,538				108,049
First (B series)		Interseguro		6.50%		Semi-annually			2035			US$18,217					61,264				—
First (C series)		Interseguro		6.1875%		Semi-annually			2035			US$19,386					65,195				—
																	222,997				108,049
Negotiable certificates of deposits – second program
First (D series)		Interbank		4.56250%		Annual			2026				S/ 106,650				104,107				—
First (E series)		Interbank		4.46875%		Annual			2026				S/ 101,250				98,127				—
First (A series)		Interbank		5.21875%		Annual			2025			S/112,964					—				110,010
First (B series)		Interbank		4.9375%		Annual			2025			S/138,435					—				133,852
First (C series)		Interbank		4.59375%		Annual			2025			S/102,000					—				97,643
																	202,234				341,505
Corporate bonds – second program
Fifth (A series)		Interbank		3.41% + VAC (*)		Semi-annually			2029			S/150,000					150,000				150,000
Total local issuances																	692,196				824,566
International issuances
Corporate bonds		Interbank		5.000%		Semi-annually		2026				S/312,000					311,910				311,788
Corporate bonds		Interbank		3.250%		Semi-annually		2026				US$400,000					1,343,800				1,501,894
Senior bonds		IFS		4.125%		Semi-annually		2027				US$300,000					950,200				1,062,514
Subordinated bonds		Interbank		7.625%		Semi-annually		2034				US$300,000					1,004,174				1,122,122
Subordinated bonds		Interbank		6.397%		Semi-annually		2035				US$350,000					1,172,008				—
Subordinated bonds		Interbank		4.000%		Semi-annually		2030				US$300,000					—				1,124,502
Total international issuances																	4,782,092				5,122,820
Total local and international issuances																	5,474,288				5,947,386
Interest payable																	116,120				128,047
Total																	5,590,408				6,075,433

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

36

(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 December 31, 2025 and 2024.

37

12. Assets and Liabilities for insurance and reinsurance contracts

(a) This caption is comprised of the following:

	31.12.2025										31.12.2024
	Assets			Liabilities			Net				Assets			Liabilities			Net
	S/(000)			S/(000)			S/(000)				S/(000)			S/(000)			S/(000)
Reinsurance contracts held (*)		(17,078	)		4,482			(12,596	)			(18,602	)		1,968			(16,634	)
Insurance contracts issued
Remaining coverage liability		(40,104	)		12,744,701			12,704,597				—			12,335,922			12,335,922
Liability for claims incurred		—			314,071			314,071				—			186,430			186,430
Total insurance contracts issued (b) and (c)		(40,104	)		13,058,772			13,018,668				—			12,522,352			12,522,352
Total reinsurance contracts held and issued		(57,182	)		13,063,254			13,006,072				(18,602	)		12,524,320			12,505,718

(*) Correspond to the ceded part of the reinsurance contracts mainly life insurance contracts.

38

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

	31.12.2025
	Liabilities remaining coverage								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)
	Excluding loss component				Loss component				Fulfillment Cash Flows (FCF)				Risk Adjustment (RA)				Fulfillment Cash Flows (FCF)				Risk Adjustment (RA)				Total
	S/(000)				S/(000)				S/(000)				S/(000)				S/(000)				S/(000)				S/(000)
Balance as of January 1, 2025		11,593,754				742,168				148,101				4,271				33,276				782				12,522,352
Insurance revenue		(1,124,367	)			—				—				—				—				—				(1,124,367	)
Contracts under fair value, BBA and VFA approach		(627,801	)			—				—				—				—				—				(627,801	)
Contracts under PAA approach		(496,566	)			—				—				—				—				—				(496,566	)
Insurance service expenses		171,463				(79,043	)			444,236				(2,127	)			319,554				5,097				859,180
Claims and other expenses incurred		—				—				971,901				107				208,745				5,097				1,185,850
Amortization of insurance acquisition cash flows		171,463				—				—				—				—				—				171,463
Gains on onerous contracts and reversals of those losses		—				(79,043	)			—				—				—				—				(79,043	)
Changes to liabilities for incurred claims		—				—				(527,665	)			(2,234	)			110,809				—				(419,090	)
Insurance service result		(952,904	)			(79,043	)			444,236				(2,127	)			319,554				5,097				(265,187	)
Insurance financial expenses		1,373,048				76,119				—				—				—				—				1,449,167
Insurance financial result		637,678				76,119				—				—				—				—				713,797
Interest rate effect		735,370				—				—				—				—				—				735,370
Effect of movements in exchange rates		(474,146	)			(22,241	)			(2,344	)			(183	)			(796	)			(14	)			(499,724	)
Total changes in the statement of income and other comprehensive income		(54,002	)			(25,165	)			441,892				(2,310	)			318,758				5,083				684,256
Net cash flow and investment component		447,842				—				(459,979	)			—				(175,803	)			—				(187,940	)
Premiums received		1,283,022				—				—				—				—				—				1,283,022
Claims and other expenses paid		—				—				(1,038,800	)			—				(175,803	)			—				(1,214,603	)
Insurance acquisition cash flows		(256,359	)			—				—				—				—				—				(256,359	)
Investment component		(578,821	)			—				578,821				—				—				—				—
Balance as of December 31, 2025		11,987,594				717,003				130,014				1,961				176,231				5,865				13,018,668

39

	31.12.2024
	Liabilities remaining coverage								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)
	Excluding loss component				Loss component				Fulfillment Cash Flows (FCF)				Risk Adjustment (RA)				Fulfillment Cash Flows (FCF)				Risk Adjustment (RA)				Total
	S/(000)				S/(000)				S/(000)				S/(000)				S/(000)				S/(000)				S/(000)
Balance as of January 1, 2024		11,301,149				699,071				155,649				5,257				43,237				1,278				12,205,641
Insurance revenue		(768,758	)			—				—				—				—				—				(768,758	)
Contracts under fair value, BBA and VFA approach		(545,835	)			—				—				—				—				—				(545,835	)
Contracts under PAA approach		(222,923	)			—				—				—				—				—				(222,923	)
Insurance service expenses		136,433				6,872				454,446				(990	)			101,245				(497	)			697,509
Claims and other expenses incurred		—				—				979,959				106				47,549				(497	)			1,027,117
Amortization of insurance acquisition cash flows		136,433				—				—				—				—				—				136,433
Gains on onerous contracts and reversals of those losses		—				6,872				—				—				—				—				6,872
Changes to liabilities for incurred claims		—				—				(525,513	)			(1,096	)			53,696				—				(472,913	)
Insurance service result		(632,325	)			6,872				454,446				(990	)			101,245				(497	)			(71,249	)
Insurance financial expenses		622,647				32,557				—				—				—				—				655,204
Insurance financial result		563,093				32,557				—				—				—				—				595,650
Interest rate effect		59,554				—				—				—				—				—				59,554
Effect of movements in exchange rates		67,098				3,668				292				4				146				1				71,209
Total changes in the statement of income and other comprehensive income		57,420				43,097				454,738				(986	)			101,391				(496	)			655,164
Net cash flow and investment component		235,185				—				(462,286	)			—				(111,352	)			—				(338,453	)
Premiums received		1,029,082				—				—				—				—				—				1,029,082
Claims and other expenses paid		—				—				(1,039,615	)			—				(111,352	)			—				(1,150,967	)
Insurance acquisition cash flows		(216,568	)			—				—				—				—				—				(216,568	)
Investment component		(577,329	)			—				577,329				—				—				—				—
Balance as of December 31, 2024		11,593,754				742,168				148,101				4,271				33,276				782				12,522,352

40

(c) Following is the movement of the issued insurance contracts’ net asset or liability, showing the present value estimates of future cash flows, risk adjustment and the contractual service margin (CSM) for portfolios included in the life insurance unit:

	31.12.2025																31.12.2024
	Estimates of the present value of future cash flows				Risk Adjustment				Contractual Service Margin				Total				Estimates of the present value of future cash flows				Risk 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		11,305,123				277,284				870,851				12,453,258				11,072,275				302,764				742,870				12,117,909
Changes that relate to current services
Contractual service margin recognized for services provided		—				—				(132,263	)			(132,263	)			—				—				(94,596	)			(94,596	)
Risk adjustment recognized for the risk expired		—				(20,797	)			—				(20,797	)			—				(12,257	)			—				(12,257	)
Experience adjustments		(62,243	)			—				—				(62,243	)			(30,427	)			—				—				(30,427	)
Changes that relate to future services
Contracts initially recognized in the period		(325,501	)			18,385				341,071				33,955				(260,895	)			13,417				269,737				22,259
Changes in estimates that adjust the contractual service margin		55,515				(2,003	)			(53,512	)			—				101,713				(6,470	)			(95,243	)			—
Changes in estimates that do not adjust the contractual service margin		(36,850	)			(8,407	)			—				(45,257	)			88,456				(36,502	)			—				51,954
Changes that relate to past services
Adjustments to liabilities for incurred claims		(15,548	)			(2,322	)			—				(17,870	)			(6,806	)			—				—				(6,806	)
Insurance service result		(384,627	)			(15,144	)			155,296				(244,475	)			(107,959	)			(41,812	)			79,898				(69,873	)
Insurance financial expenses		1,253,425				57,014				66,019				1,376,458				593,390				15,090				46,348				654,828
Insurance financial result		518,055				57,014				66,019				641,088				533,836				15,090				46,348				595,274
Interest rate effect (*)		735,370				—				—				735,370				59,554				—				—				59,554
Effect of movements in Exchange rates		(404,414	)			(9,115	)			(12,226	)			(425,755	)			68,328				1,242				1,735				71,305
Total changes in the statement of income and other comprehensive income		464,384				32,755				209,089				706,228				553,759				(25,480	)			127,981				656,260
Cash flows		(320,715	)			—				—				(320,715	)			(320,911	)			—				—				(320,911	)
Premiums received		825,245				—				—				825,245				812,221				—				—				812,221
Claims and other expenses paid		(1,038,800	)			—				—				(1,038,800	)			(1,039,615	)			—				—				(1,039,615	)
Insurance acquisition cash flows		(107,160	)			—				—				(107,160	)			(93,517	)			—				—				(93,517	)
Balance		11,448,792				310,039				1,079,940				12,838,771				11,305,123				277,284				870,851				12,453,258

(*) Balance does not include PPA movement of LRC and LIC, amounting to S/179,897,000 and S/69,904,000 as of December 31, 2025 and 2024, respectively.

41

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

	31.12.2025				31.12.2024
	S/(000)				S/(000)
Contractual Service Margin as of January 1		870,851				742,870
Changes that relate to current services
Contractual service margin recognized for services provided		(132,263	)			(94,596	)
Changes that relate to future services
Contracts initially recognized in the period		341,071				269,737
Changes in estimates that adjust the contractual service margin		(53,512	)			(95,243	)
Insurance service result		155,296				79,898
Insurance financial expenses		66,019				46,348
Effect of movements in exchange difference		(12,226	)			1,735
Total changes in the statement of income		209,089				127,981
Other movements		—				—
Balance		1,079,940				870,851

(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:

	31.12.2025				31.12.2024
	S/(000)				S/(000)
Cumulative other comprehensive income, opening balance		682,727				744,116
Losses recognized in other comprehensive income in the period		(735,370	)			(59,554	)
Rate effect of “Renta Particular” contract (*)		(1,850	)			1,065
Others		725				(2,900	)
Cumulative other comprehensive income, closing balance		(53,768	)			682,727

(*) 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.

42

13. Equity

(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 December 31, 2025 and 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 in April 2024.

(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, which was carried out simultaneously on the Bolsa de Valores de Lima - BVL and the New York Stock Exchange – NYSE, on one or more dates at market prices. The program remained in effect until April 17, 2025. On March 31, 2025, IFS’s shareholders approved a new Share Repurchase Program, for an amount of up to US$100 million of common shares under the same conditions as the previous program. This new program will remain in effect until the Board of Directors decides otherwise.

As of December 31, 2025 and 2024, the Company and certain subsidiaries, as a whole, hold 4,365,000 and 2,159,000 shares issued by IFS, with an acquisition cost of US$127,821,000 (equivalent to S/469,546,000) and US$55,704,000 (equivalent to S/206,997,000), respectively.

(c) Capital surplus -

Corresponds to the difference between the nominal value of the shares issued and 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.

(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.

(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 December 31, 2025 and 2024, the Financial Group is comprised of Intercorp Financial Services Inc., its subsidiaries and Financiera Oh, a related entity and subsidiary of Intercorp Peru 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 December 31, 2025 and 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.

43

14. Tax situation

(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).

(b) Natural entities domiciled, as well as 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 December 31, 2025 and 2024, the Company has recorded a provision for income tax on dividends amounting to S/40,829,000 and S/26,076,000, respectively, in the caption “Income Tax” of the interim consolidated statement of income.

(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 December 31, 2025 and 2024, was 29.5 percent, over the taxable income.

(d) With regard to subsidiaries domiciled in Peru, the 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 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 December 31, 2025:

Entity	Periods subject to review
Interbank	From 2021 to 2025
Interseguro	From 2021 to 2025
Izipay	From 2021 to 2025
Procesos de Medios de Pago	From 2021 to 2025

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.

44

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 for the main businesses:

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 prolonged claims process in various 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 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 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).

In November 2025, the SUNAT through a Compliance Resolution, notified a new debt amounting to S/35,800,000; however, the case is under appeal before the Tax Court.

45

•Tax period 2014, 2015, 2017 and 2018:

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, the SUNAT notified the beginning of the audit process to Interbank regarding the third-category Income Tax corresponding to the period 2019 and Transfer Prices for 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).

•Tax period 2020:

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 December 31, 2025, and 2024.

Procesos 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 December 31, 2025 and 2024, Izipay maintains carryforward tax losses amounting to S/104,290,500 and S/70,043,812, respectively. In application of current tax regulations, Izipay 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 December 31, 2025 and 2024.

(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:

		31.12.2025				31.12.2024
		S/(000)				S/(000)
Current – Expense			526,913				188,236
Current – Dividend expense, Note 14(b)			40,829				26,076
Deferred – (Income) expense			(37,490	)			100,053
			530,252				314,365

(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. In the opinion of IFS’ Management and its legal advisors, the application of this regulation would not have a significant impact on the Group's consolidated financial statements.

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15. Interest income and expenses, and similar accounts

(a)This caption is comprised of the following:

		31.12.2025				31.12.2024
		S/(000)				S/(000)
Interest and similar income
Interest on loan portfolio			5,081,018				5,157,744
Impact from the modification of contractual cash flows due to the loan rescheduling schemes			(456	)			510
Interest on investments at fair value through other comprehensive income			1,186,037				1,218,304
Interest on due from banks and inter-bank funds			297,662				372,622
Interest on investments at amortized cost			230,445				217,716
Dividends on financial instruments			76,776				49,396
Others			16,895				13,099
Total			6,888,377				7,029,391
Interest and similar expenses
Interest and fees on deposits and obligations			(1,245,794	)			(1,495,881	)
Interest and fees on obligations with financial institutions			(413,547	)			(482,392	)
Interest on bonds, notes and other obligations			(386,383	)			(327,385	)
Insurance contract expense with investment component			(103,962	)			(71,202	)
Deposit insurance fund fees			(90,604	)			(86,776	)
Interest on lease payments			(9,545	)			(7,627	)
Others			(9,136	)			(9,007	)
Total			(2,258,971	)			(2,480,270	)

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16. Fee income from financial services, net

(a)This caption is comprised of the following:

		31.12.2025				31.12.2024
		S/(000)				S/(000)
Income
Performance obligations at a point in time:
Accounts maintenance, carriage, transfers, and debit and credit card fees			797,419				755,432
Income from services (acquirer and issuer role) (b)			718,192				733,885
Banking service fees			241,186				196,985
Brokerage and custody services			12,196				8,116
Others			24,433				30,370
Performance obligations over time:
Funds management			177,450				158,928
Contingent loans fees			65,988				67,045
Collection services			51,520				55,978
Others			27,376				18,694
Total			2,115,760				2,025,433
Expenses
Expenses for services (acquirer and issuer role) (b)			(346,441	)			(343,038	)
Credit cards			(162,571	)			(177,492	)
Credit card processing commissions			(114,604	)			(103,838	)
Local banks fees			(75,522	)			(71,564	)
Digital services fees			(71,059	)			(53,857	)
Credit life insurance premiums			(67,244	)			(71,239	)
Foreign banks fees			(27,809	)			(25,778	)
Others			(30,879	)			(35,684	)
Total			(896,129	)			(882,490	)
Net			1,219,631				1,142,943

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

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17. Other income and (expenses)

This caption is comprised of the following:

		31.12.2025				31.12.2024
		S/(000)				S/(000)
Other income
Gain from sale of written-off-loans			39,255				2,542
Maintenance, installation and sale of POS equipment			21,296				23,269
Other technical income from insurance operations			9,342				4,162
Participation in investments in associates			7,612				7,447
Services rendered to third parties			6,800				8,223
Income from ATM rentals			5,545				5,507
Profit from sale of property, furniture and equipment			2,078				12,879
Others			49,535				57,193
Total other income			141,463				121,222
Other expenses
Commissions from insurance activities			(61,066	)			(38,780	)
Administrative and tax penalties			(17,675	)			(16,277	)
Expenses related to rental income			(13,294	)			(12,607	)
Sundry technical insurance expenses			(11,458	)			(14,414	)
Provision for accounts receivable			(8,673	)			(11,508	)
Donations			(4,418	)			(4,826	)
Write-off of intangibles			(3,166	)			(10,400	)
Provision for sundry risk			(2,633	)			(29,290	)
Others			(38,114	)			(56,857	)
Total other expenses			(160,497	)			(194,959	)

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18. Result from insurance activities

(a) This caption is comprised of the following:

	31.12.2025																31.12.2024
	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		56,979				11,416				63,868				132,263				61,800				3,970				28,826				94,596
Change in Risk adjustment for non-financial risk		2,826				15,208				1,594				19,628				3,083				7,756				(358	)			10,481
Insurance service expenses and expected claims incurred		70,961				287,259				97,386				455,606				68,268				282,141				74,944				425,353
Recovery of cash for insurance acquisition		5,028				923				14,352				20,303				4,846				536				10,023				15,405
Contracts measured under PAA:
Premiums assigned to the period		241,217				251,447				3,902				496,566				219,600				—				3,323				222,923
		377,011				566,253				181,102				1,124,366				357,597				294,403				116,758				768,758
Insurance service expenses -
Claims incurred expenses and other expenses		(93,054	)			(951,035	)			(141,761	)			(1,185,850	)			(84,337	)			(816,857	)			(125,923	)			(1,027,117	)
Onerous contract losses and loss reversion		944				75,100				2,999				79,043				7,095				50,870				(188	)			57,777
Amortization of insurance acquisition cash flows		(156,188	)			(923	)			(14,352	)			(171,463	)			(125,876	)			(536	)			(10,021	)			(136,433	)
Changes to liabilities for incurred claims		(58,636	)			422,727				54,999				419,090				(70,556	)			487,468				56,001				472,913
		(306,934	)			(454,131	)			(98,115	)			(859,180	)			(273,674	)			(279,055	)			(80,131	)			(632,860	)
Insurance service results		70,077				112,122				82,987				265,186				83,923				15,348				36,627				135,898
Reinsurance income		(957	)			(2,527	)			(4,954	)			(8,438	)			(4,009	)			(3,166	)			(7,432	)			(14,607	)
Financial result of insurance operations (b)		—				(652,135	)			(61,662	)			(713,797	)			—				(627,062	)			(32,903	)			(659,965	)
Result from insurance activities (**)		69,120				(542,540	)			16,371				(457,049	)			79,914				(614,880	)			(3,708	)			(538,674	)

(*) 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/409,252,000 and S/368,885,000 as of December 31, 2025 and 2024, respectively. See also segment information in Note 21.

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

	31.12.2025												31.12.2024
	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		—				(13,571	)			(13,571	)			—				96				96
Interest credited		(566,646	)			(43,705	)			(610,351	)			(562,252	)			(35,858	)			(598,110	)
Changes in interest rate and other financial hypotheses		(63,245	)			3,894				(59,351	)			(64,811	)			3,879				(60,932	)
Effect of changes in current estimates and in CSM adjustment rates in relation to the rates used in the initial recognition		(22,244	)			(8,280	)			(30,524	)			1				(1,020	)			(1,019	)
Financial results from insurance operations		(652,135	)			(61,662	)			(713,797	)			(627,062	)			(32,903	)			(659,965	)

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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 shares				Shares considered in computation				Effective days in the year				Weighted average number of shares outstanding
		(in thousands)				(in thousands)								(in thousands)
Year 2024
Balance as of January 1			114,480				114,480				365				114,480
Sale of treasury stock			2				2				41				0
Purchase of treasury stock			(1,194	)			(1,194	)			59				(193	)
Balance as of December 31, 2024			113,288				113,288								114,287
Net earnings attributable to IFS’s shareholders S/(000)															1,300,078
Earnings per share attributable to IFS’s shareholders in Soles (basic and diluted)															11.376
Year 2025
Balance as of January 1			113,288				113,288				365				113,288
Purchase of treasury stock			(2,206	)			(2,206	)			261				(1,575	)
Balance as of December 31, 2025			111,082				111,082								111,713
Net earnings attributable to IFS’s shareholders S/(000)															1,932,470
Earnings per share attributable to IFS’s shareholders in Soles (basic and diluted)															17.299

20. Transactions with related parties and affiliated entities

(a) The table below presents the main transactions with related parties and affiliated entities as of December 31, 2025 and 2024 and for the years ended on those dates:

		31.12.2025				31.12.2024
		S/(000)				S/(000)
Assets
Instruments at fair value through profit or loss			353				819
Investments at fair value through other comprehensive income			74,104				72,906
Loans, net (b)			2,272,336				1,805,083
Accounts receivable			105,897				87,889
Other assets			9,606				11,454
Liabilities
Deposits and obligations			1,430,409				1,084,713
Other liabilities			120,612				224,391
Off-balance sheet accounts
Indirect loans (b)			65,778				59,399
		31.12.2025				31.12.2024
		S/(000)				S/(000)
Income (expenses)
Interest and similar income			138,448				117,713
Rental income			37,685				28,833
Interest and similar expenses			(25,449	)			(32,031	)
Administrative expenses			(42,530	)			(45,320	)
Gain (loss) on sale of investment property			320				(3,176	)
Others, net			64,899				61,889

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(b) As of December 31, 2025 and 2024, the detail of loans is the following:

		31.12.2025												31.12.2024
		Direct Loans				Indirect Loans				Total				Direct Loans				Indirect Loans				Total
		S/(000)				S/(000)				S/(000)				S/(000)				S/(000)				S/(000)
Affiliated			1,581,492				15,908				1,597,400				1,502,218				15,731				1,517,949
Associates			690,844				49,870				740,714				302,865				43,668				346,533
			2,272,336				65,778				2,338,114				1,805,083				59,399				1,864,482

(c) As of December 31, 2025 and 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 December 31, 2025 and 2024, direct loans to employees, directors and executives amounted to S/256,398,000 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.

(d) The Group’s key personnel basic remuneration for the years ended December 31, 2025 and 2024, is presented below:

		31.12.2025				31.12.2024
		S/(000)				S/(000)
Salaries			34,736				32,865
Board of Directors’ compensations			3,276				3,456
Total			38,012				36,321

(e) As of December 31, 2025 and 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/184,000 and S/2,364,000, respectively.

(f) In Management’s opinion, transactions with related companies have been performed under market conditions and within the limits set 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 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 December 31, 2025 and 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.

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The following table presents the Group’s financial information by business segments for the years ended December 31, 2025 and 2024:

		31.12.2025
		Banking				Insurance				Wealth management				Holding, other subsidiaries and eliminations (*)				Total consolidated
		S/(000)				S/(000)				S/(000)				S/(000)				S/(000)
Consolidated statement of income data
Interest and similar income			5,815,686				921,779				160,076				(9,164	)			6,888,377
Interest and similar expenses			(1,980,679	)			(184,452	)			(98,572	)			4,732				(2,258,971	)
Net interest and similar income			3,835,007				737,327				61,504				(4,432	)			4,629,406
(Loss) recovery due to impairment of loans			(1,136,727	)			—				20				—				(1,136,707	)
(Loss) recovery due to impairment of financial investments			(29	)			(264,123	)			376				15				(263,761	)
Net interest and similar income after impairment loss on loans			2,698,251				473,204				61,900				(4,417	)			3,228,938
Fee income from financial services, net			884,627				(12,622	)			195,956				151,670				1,219,631
Net gain (loss) on sale of financial investments			67,504				34,942				(391	)			—				102,055
Other income			552,740				237,079				162,869				143,133				1,095,821
Result from insurance activities			—				(47,777	)			—				(20	)			(47,797	)
Depreciation and amortization			(307,101	)			(20,427	)			(8,285	)			(114,454	)			(450,267	)
Other expenses			(1,942,039	)			(425,609	)			(166,997	)			(178,293	)			(2,712,938	)
Income (loss) before translation result and Income Tax			1,953,982				238,790				245,052				(2,381	)			2,435,443
Exchange difference			2,438				35,747				(1,137	)			956				38,004
Income Tax			(481,424	)			—				(12,779	)			(36,049	)			(530,252	)
Net profit (loss) for the year			1,474,996				274,537				231,136				(37,474	)			1,943,195
Attributable to:
IFS’s shareholders			1,474,996				274,537				231,136				(48,199	)			1,932,470
Non-controlling interest			—				—				—				10,725				10,725
			1,474,996				274,537				231,136				(37,474	)			1,943,195

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

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		31.12.2024
		Banking				Insurance				Wealth management				Holding, other subsidiaries and eliminations (*)				Total consolidated
		S/(000)				S/(000)				S/(000)				S/(000)				S/(000)
Consolidated statement of income data
Interest and similar income			5,969,629				870,993				178,160				10,609				7,029,391
Interest and similar expenses			(2,217,197	)			(153,464	)			(108,466	)			(1,143	)			(2,480,270	)
Net interest and similar income			3,752,432				717,529				69,694				9,466				4,549,121
Loss on loans, net of recoveries			(1,719,913	)			—				(266	)			—				(1,720,179	)
Loss due to impairment of financial investments			(982	)			(45,910	)			(585	)			(44	)			(47,521	)
Net interest and similar income after impairment loss on loans			2,031,537				671,619				68,843				9,422				2,781,421
Fee income from financial services, net			791,815				(10,628	)			170,955				190,801				1,142,943
Net gain (loss) on sale of financial investments			12,995				17,664				(4,115	)			—				26,544
Other income			500,512				103,571				89,331				71,653				765,067
Result from insurance activities			—				(169,750	)			—				(39	)			(169,789	)
Depreciation and amortization			(294,514	)			(22,091	)			(8,734	)			(87,718	)			(413,057	)
Other expenses			(1,762,494	)			(379,087	)			(166,789	)			(178,789	)			(2,487,159	)
Income before translation result and Income Tax			1,279,851				211,298				149,491				5,330				1,645,970
Exchange difference			(7,402	)			(9,390	)			(2,066	)			(5,286	)			(24,144	)
Income Tax			(265,096	)			—				(10,089	)			(39,180	)			(314,365	)
Net profit (loss) for the year			1,007,353				201,908				137,336				(39,136	)			1,307,461
Attributable to:
IFS’s shareholders			1,007,353				201,908				137,336				(46,519	)			1,300,078
Non-controlling interest			—				—				—				7,383				7,383
			1,007,353				201,908				137,336				(39,136	)			1,307,461

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

55

		31.12.2025
		Banking				Insurance				Wealth management				Holding, other subsidiaries and eliminations (*)				Total consolidated
		S/(000)				S/(000)				S/(000)				S/(000)				S/(000)
Capital investments (**)			461,646				65,369				7,859				51,251				586,125
Total assets			76,763,239				17,461,132				4,118,540				754,516				99,097,427
Total liabilities			66,505,666				16,615,842				3,019,002				535,073				86,675,583
		31.12.2024
		Banking				Insurance				Wealth management				Holding, other subsidiaries and eliminations (*)				Total consolidated
		S/(000)				S/(000)				S/(000)				S/(000)				S/(000)
Capital investments (**)			277,836				65,335				5,879				62,815				411,865
Total assets			73,626,419				16,175,883				4,316,010				1,385,469				95,503,781
Total liabilities			64,753,475				15,618,274				3,271,899				881,538				84,525,186

(*) 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 year ended December 31, 2025, is S/10,876,215,000 in Peru and S/450,164,000 in Panama (for the year ended December 31, 2024, was S/10,232,012,000 in Peru and S/383,179,000 in Panama). The distribution of the Group’s total assets based on the location of the customer and its assets as of December 31, 2025 is S/95,125,697,000 in Peru and S/3,971,730,000 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).

56

22. Financial instruments classification

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

		As of December 31, 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			—				—				—				14,035,949				14,035,949
Inter-bank funds			—				—				—				40,006				40,006
Financial investments			1,965,991				21,662,651				556,149				3,989,015				28,173,806
Loans, net			—				—				—				50,770,150				50,770,150
Due from customers on acceptances			—				—				—				51,332				51,332
Other accounts receivable and other assets, net			120,878				—				—				1,146,578				1,267,456
Reinsurance contracts assets			—				—				—				57,182				57,182
			2,086,869				21,662,651				556,149				70,090,212				94,395,881
Financial liabilities
Deposits and obligations			—				—				—				56,027,630				56,027,630
Inter-bank funds			—				—				—				55,019				55,019
Due to banks and correspondents			—				—				—				7,166,014				7,166,014
Bonds, notes and other obligations			—				—				—				5,590,408				5,590,408
Due from customers on acceptances			—				—				—				51,332				51,332
Insurance and reinsurance contract liabilities			—				—				—				13,063,254				13,063,254
Other accounts payable, provisions and other liabilities			207,084				—				—				4,172,085				4,379,169
			207,084				—				—				86,125,742				86,332,826

57

		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			—				—				—				12,615,226				12,615,226
Inter-bank funds			—				—				—				220,060				220,060
Financial investments			1,776,567				20,724,892				458,268				3,898,198				26,857,925
Loans, net			—				—				—				49,229,448				49,229,448
Due from customers on acceptances			—				—				—				9,163				9,163
Other accounts receivable and other assets, net			143,201				—				—				1,588,600				1,731,801
Reinsurance contracts assets			—				—				—				18,602				18,602
			1,919,768				20,724,892				458,268				67,579,297				90,682,225
Financial liabilities
Deposits and obligations			—				—				—				53,768,028				53,768,028
Due to banks and correspondents			—				—				—				7,562,057				7,562,057
Bonds, notes and other obligations			—				—				—				6,075,433				6,075,433
Due from customers on acceptances			—				—				—				9,163				9,163
Insurance and reinsurance contract liabilities			—				—				—				12,524,320				12,524,320
Other accounts payable, provisions and other liabilities			163,441				—				—				4,024,513				4,187,954
			163,441				—				—				83,963,514				84,126,955

58

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 and Inteligo Bank, 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 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.

(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 (consumer and mortgage loans), (ii) Small Business Banking (small and micro-business loans), and (iii) Commercial Banking (commercial loans). 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 loan’s expected loss.

In compliance with the policy of monitoring the Group’s credit risk, during 2025 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.

(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.

59

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

														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 December 31, 2025
Derivatives, Note 8(b)			120,878				—				120,878				(31,633	)			(60,063	)			29,182
Total			120,878				—				120,878				(31,633	)			(60,063	)			29,182
As of December 31, 2024
Derivatives, Note 8(b)			143,201				—				143,201				(30,231	)			(35,645	)			77,325
Total			143,201				—				143,201				(30,231	)			(35,645	)			77,325

60

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

														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 December 31, 2025
Derivatives, Note 8(b)			207,084				—				207,084				(31,633	)			(93,021	)			82,430
Total			207,084				—				207,084				(31,633	)			(93,021	)			82,430
As of December 31, 2024
Derivatives, Note 8(b)			102,288				—				102,288				(30,231	)			(21,568	)			50,489
Total			102,288				—				102,288				(30,231	)			(21,568	)			50,489

(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 December 31, 2025, the weighted average exchange rate of free market published by the SBS for transactions in US Dollars was S/3.358 per US$1 bid and S/3.368 per US$1 ask (S/3.758 and S/3.770 as of December 31, 2024, respectively). As of December 31, 2025, the exchange rate for the accounting of asset and liability accounts in foreign currency set by the SBS was S/3.363 per US$1 (S/3.764 as of December 31, 2024).

61

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

		As of December 31, 2025
		US Dollars				Soles				Other currencies				Total
		S/(000)				S/(000)				S/(000)				S/(000)
Assets
Cash and due from banks			9,784,117				3,963,653				288,179				14,035,949
Inter-bank funds			—				40,006				—				40,006
Financial investments			7,731,572				20,387,567				54,667				28,173,806
Loans, net			14,424,941				36,345,209				—				50,770,150
Due from customers on acceptances			51,332				—				—				51,332
Other accounts receivable and other assets, net			240,769				1,025,707				980				1,267,456
Reinsurance contract assets			2,056				55,126				—				57,182
			32,234,787				61,817,268				343,826				94,395,881
Liabilities
Deposits and obligations			19,301,489				36,216,857				509,284				56,027,630
Inter-bank funds			—				55,019				—				55,019
Due to banks and correspondents			2,049,531				5,116,483				—				7,166,014
Bonds, notes and other obligations			4,879,304				711,104				—				5,590,408
Due from customers on acceptances			51,332				—				—				51,332
Insurance and reinsurance contract liabilities			3,609,743				9,453,511				—				13,063,254
Other accounts payable, provisions and other liabilities			1,929,823				2,438,585				10,761				4,379,169
			31,821,222				53,991,559				520,045				86,332,826
Forwards position, net			(2,443,784	)			2,206,289				237,495				—
Currency swaps position, net			718,766				(718,766	)			—				—
Cross currency swaps position, net			1,850,650				(1,850,650	)			—				—
Options position, net			(66	)			66				—				—
Monetary position, net			539,131				7,462,648				61,276				8,063,055

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		As of December 31, 2024
		US Dollars				Soles				Other currencies				Total
		S/(000)				S/(000)				S/(000)				S/(000)
Assets
Cash and due from banks			8,615,546				3,676,441				323,239				12,615,226
Inter-bank funds			—				220,060				—				220,060
Financial investments			7,456,057				19,356,325				45,543				26,857,925
Loans, net			14,372,955				34,848,570				7,923				49,229,448
Due from customers on acceptances			9,163				—				—				9,163
Other accounts receivable and other assets, net			405,658				1,326,121				22				1,731,801
Reinsurance contract assets			207				18,395				—				18,602
			30,859,586				59,445,912				376,727				90,682,225
Liabilities
Deposits and obligations			19,802,404				33,451,094				514,530				53,768,028
Due to banks and correspondents			2,210,040				5,352,017				—				7,562,057
Bonds, notes and other obligations			5,227,805				847,628				—				6,075,433
Due from customers on acceptances			9,163				—				—				9,163
Insurance and reinsurance contract liabilities			3,940,738				8,583,582				—				12,524,320
Other accounts payable, provisions and other liabilities			1,689,640				2,484,247				14,067				4,187,954
			32,879,790				50,718,568				528,597				84,126,955
Forwards position, net			(1,842,468	)			1,564,150				278,318				—
Currency swaps position, net			1,849,472				(1,849,472	)			—				—
Cross currency swaps position, net			2,071,400				(2,071,400	)			—				—
Options position, net			(61	)			61				—				—
Monetary position, net			58,139				6,370,683				126,448				6,555,270

As of December 31, 2025, the Group granted indirect loans (contingent operations) in foreign currency for approximately US$1,050,880,000, equivalent to S/3,534,108,000 (US$770,827,000, equivalent to S/2,901,393,000 as of December 31, 2024).

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24. Fair value

(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 December 31, 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 (*)			247,299				666,443				1,052,249				1,965,991
Debt instruments measured at fair value through other comprehensive income			13,732,571				7,566,826				—				21,299,397
Equity instruments measured at fair value through other comprehensive income			518,843				3,675				33,631				556,149
Derivatives receivable			—				120,878				—				120,878
			14,498,713				8,357,822				1,085,880				23,942,415
Accrued interest															363,254
Total financial assets															24,305,669
Financial liabilities
Derivatives payable			—				207,084				—				207,084
Total financial liabilities			—				207,084				—				207,084

		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 (*)			304,659				459,767				1,012,141				1,776,567
Debt instruments measured at fair value through other comprehensive income			12,722,114				7,655,691				—				20,377,805
Equity instruments measured at fair value through other comprehensive income			406,778				13,850				37,640				458,268
Derivatives receivable			—				143,201				—				143,201
			13,433,551				8,272,509				1,049,781				22,755,841
Accrued interest															347,087
Total financial assets															23,102,928
Financial liabilities
Derivatives payable			—				102,288				—				102,288
Liabilities at fair value through profit or loss			61,153				—				—				61,153
Total financial liabilities			61,153				102,288				—				163,441

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

Financial assets included in Level 1 are those measured based on 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 the 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.

64

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. During 2025 and 2024, there were transfers of certain financial instruments from Level 2 to Level 1 for an amount of S/19,763,000 and S/42,195,000, respectively. 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:

		31.12.2025				31.12.2024
		S/(000)				S/(000)
Initial balance as of January 1			1,049,781				919,866
Purchases			106,906				81,369
Sales			(125,233	)			(78,231	)
Gain recognized on the interim consolidated statement of income			54,426				126,777
Ending balance			1,085,880				1,049,781

65

(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:

		As of December 31, 2025																				As of December 31, 2024
		Level 1				Level 2				Level 3				Fair value				Book value				Level 1				Level 2				Level 3				Fair value				Book 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			14,035,949				—				—				14,035,949				14,035,949				12,615,226				—				—				12,615,226				12,615,226
Inter-bank funds			—				40,006				—				40,006				40,006				—				220,060				—				220,060				220,060
Investments at amortized cost			4,026,559				140,840				—				4,167,399				3,989,015				3,775,935				98,658				—				3,874,593				3,898,198
Loans, net			—				50,189,528				—				50,189,528				50,770,150				—				48,333,964				—				48,333,964				49,229,448
Due from customers on acceptances			—				51,332				—				51,332				51,332				—				9,163				—				9,163				9,163
Other accounts receivable and other assets, net			—				1,146,578				—				1,146,578				1,146,578				—				1,588,600				—				1,588,600				1,588,600
Reinsurance contract assets			—				57,182				—				57,182				57,182				—				18,602				—				18,602				18,602
Total			18,062,508				51,625,466				—				69,687,974				70,090,212				16,391,161				50,269,047				—				66,660,208				67,579,297
Liabilities
Deposits and obligations			—				56,042,175				—				56,042,175				56,027,630				—				53,770,487				—				53,770,487				53,768,028
Inter-bank funds			—				55,019				—				55,019				55,019				—				—				—				—				—
Due to banks and correspondents			—				7,183,314				—				7,183,314				7,166,014				—				7,706,223				—				7,706,223				7,562,057
Bonds, notes and other obligations			4,976,125				710,793				—				5,686,918				5,590,408				5,163,150				838,662				—				6,001,812				6,075,433
Due from customers on acceptances			—				51,332				—				51,332				51,332				—				9,163				—				9,163				9,163
Insurance and reinsurance contract liabilities			—				13,063,254				—				13,063,254				13,063,254				—				12,524,320				—				12,524,320				12,524,320
Other accounts payable and other liabilities			—				4,172,085				—				4,172,085				4,172,085				—				4,024,513				—				4,024,513				4,024,513
Total			4,976,125				81,277,972				—				86,254,097				86,125,742				5,163,150				78,873,368				—				84,036,518				83,963,514

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:

(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 December 31, 2025 and 2024, the book value of loans, net of allowances, was not significantly different from the calculated fair values.

(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.

(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.

66

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 with 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 for poor yielding of the assets under its management.

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

		31.12.2025				31.12.2024
		S/(000)				S/(000)
Investment funds			19,418,061				19,534,337
Mutual funds			9,340,950				7,926,478
Total			28,759,011				27,460,815

26. Subsequent event

On January 15, 2026, Interbank issued senior notes called “Senior Unsecured Notes due 2031” for an amount of US$500,000,000, under Rule 144-A and/or Regulation S of the U.S. Securities Act of 1933 of the United States of America. This issuance has maturity in July 2031 and the agreed annual interest rate was 4.8 percent.

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FAQ

How did Intercorp Financial Services (IFS) perform financially in 2025?

IFS delivered a strong year in 2025, with net profit of S/ 1,943.2 million, up 48.6% versus 2024. Profit growth came mainly from lower loan provisions and higher other income and fees, leading to a higher ROE of 16.8% and record earnings.

What were IFS’s key profitability metrics like ROE and EPS in 2025?

In 2025, IFS reported an ROE of 16.8%, or 18.5% excluding the Rutas de Lima impairment, reflecting more efficient capital use. Earnings per share rose to S/ 17.299, up from S/ 11.376 in 2024, supported by stronger profits and share buybacks.

How did Interbank, Interseguro, and Inteligo contribute to IFS’s 2025 results?

All core subsidiaries contributed strongly. Interbank posted profit of S/ 1,475.0 million (+46.4% YoY). Interseguro earned S/ 274.5 million (+36.0%), and Inteligo generated S/ 231.1 million (+68.3%). Together they drove IFS’s higher consolidated net income and ROE.

What is the asset quality and cost of risk picture for IFS in 2025?

IFS improved asset quality in 2025. Impairment loss on loans dropped to S/ 1,136.7 million, and total cost of risk declined to 2.3%, down 130 basis points year over year. The Stage 3 non‑performing loan ratio fell to 2.3%, with coverage at roughly 139%.

How strong is IFS’s capital position at year-end 2025?

IFS’s banking arm ended 2025 with a total capital ratio of 16.0% and CET1 of 12.5%. These levels exceed the combined regulatory minimum and buffer requirement of 13.6%, indicating a solid capital cushion to support growth and absorb potential losses.

What impact did Rutas de Lima impairments have on IFS and Interseguro?

Rutas de Lima exposure led to higher investment impairments, including S/ 216.3 million at group level and S/ 218.2 million at Interseguro. As of December 2025, around 80% of this exposure was provisioned, leaving an estimated net exposure of about S/ 74 million.

How are digital and retail metrics evolving for IFS’s banking and insurance operations?

Digital adoption is rising. Retail digital banking customers reached 84%, with digital self‑service at 82% and digital sales at 68%. In insurance, digital self‑service hit 70.9%, and digital insurance premiums climbed to S/ 33.6 million, reflecting deeper online engagement.

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