IFS Latest Report

Financial Performance

Intercorp Financial's total operating revenue as of December 31, 2024 was US$1.704 billion, up 5.43% from US$1.612 billion in 2023. This growth reflects the company's increased competitiveness and revenue generation capabilities in the market, despite the negative impact of insurance business revenue.

Key Financial Data

1. Operating revenue growth: Operating revenue in 2024 was US$1.704 billion, up US$0.092 billion from US$1.612 billion in 2023, indicating a robust growth in the company's core business.

2. Improvement in EBIT: EBIT increased from US$13.46 billion in 2023 to US$16.46 billion, indicating significant success in cost control and revenue enhancement.

3. Net profit growth: Net profit increased from US$286 million in 2023 to US$490 million, a 71.95% increase, indicating a significant improvement in the company's profitability, possibly benefiting from higher net interest income.

4. Impact of insurance business revenue: Despite negative insurance business revenue (US$-30 million in 2024, US$-24 million in 2023), the overall operating revenue growth indicates good performance in other businesses, offsetting the negative impact of insurance business.

Peer Comparison

1. Industry-wide analysis: In the financial services industry, overall operating revenue growth is typically driven by interest rate changes and market demand. The recovery of the financial market and the improvement in consumer confidence in 2024 may have contributed to the industry's overall revenue growth, especially in the credit and investment services sectors.

2. Peer evaluation analysis: Compared to other companies in the industry, Intercorp Financial performed well in terms of operating revenue growth, with a 5.43% growth rate in 2024, higher than the industry average. This indicates the company's competitiveness in the market and the effectiveness of its business model, especially in interest income management and customer service.

Summary

Intercorp Financial's financial performance in 2024 showed strong operating revenue growth and significant profit improvement, despite the poor performance of insurance business revenue. The company's success is mainly attributed to the recovery of banking and investment results, proper cost control, and the advancement of digital transformation.

Opportunities

1. The ongoing recovery of the financial market provides opportunities for further growth, especially in the credit and investment services sectors.

2. Digital transformation will enhance customer experience and operational efficiency, potentially further driving revenue growth.

3. Merger and cooperation opportunities within the industry can bring new business growth points and market share for Intercorp Financial.

Risks

1. Continued decline in insurance business revenue may pose a threat to the company's overall performance.

2. Fluctuations in market interest rates may affect the company's interest income, especially in credit operations.

3. Changes in policies and regulations may affect the company's operating methods and profitability.