Rutas de Lima计提PEN 78百万，剩余风险敞口约$60mn（占投资组合<1%）（CEO）
Interbank中小企业贷款同比+33%，消费者贷款现金贷发放量+34%（CFO）
零售主银行客户同比+6%，PLIN月活用户250万，交易量同比+38%（CFO）
存款成本同比-40bps、环比-10bps，低成本资金占比36%持续改善（CFO）
官方指引（CFO）：
全年ROE接近17%（取决于Rutas de Lima四季度潜在影响）
年末贷款增速约5% YoY
净息差NIM预计略有恢复
成本风险将显著低于年初指引
风险调整NIM全年小幅改善
成本收入比约37%，处于指引范围内
管理层引述（prepared）：
“Peru continues to benefit from a low inflation environment and a solid exchange rate which has appreciated close to 10% this year.”（CEO）
“IFS has sustained strong core results and profitability with an ROE of around 16%, even after a specific investment impact related to Rutas
Q&A Batch (1-3 of 3)
Q1 — Yuri Fernandes
Topic: Rutas de Lima impairment and retail loan growth impact from pension withdrawal
Key points:
Rutas de Lima exposure already impaired by 40% as of quarter close; total position <1% of IFS investment holdings
Past pension withdrawals caused consumer loans to decrease 1%–2% in the market; this withdrawal may lead to flat or slightly negative loan growth in the short term
December has double salary and a large portion of AFP withdrawals, creating high liquidity that benefits collections and funding
Mgmt stance: Neutral – uncertainty remains on Rutas de Lima outcome; retail loan growth likely flat to slightly negative short-term, then recovery expected
Q2 — Daniel Mora
Topic: Loan growth outlook for 2025–2026 and credit card acceleration sustainability
Key points:
Consumer loans historically grow at 2x–2.5x GDP multiplier; IFS aims to grow slightly ahead of system by gaining market share
Risk appetite increased slightly due to good portfolio performance and improved macro expectations
Net interest margin expected to grow in line with credit card and SME growth, with marginal positive effect from lower cost of funds
Mgmt stance: Bullish – expects continued acceleration in credit cards and consumer finance in 2026, with NIM benefiting
Q3 — Unknown Analyst
Topic: Corporate lending disbursements in Peru during 2026 presidential election year
Key points:
No large projects expected; activity will be mainly working capital replenishment, CapEx, and refinancing
Recent corporate bond offerings lead to prepayments for banks; interest rates have fallen, encouraging short-term loan refinancing to longer terms
High growth in the corporate segment is not foreseen for the next few quarters
Mgmt stance: Cautious – corporate loan growth likely subdued due to lack of big projects and refinancing dynamics