IFS · Intercorp Financial Services Inc.

Intercorp Financial Services Inc. (IFS) and InRetail Perú Corp. announced a strategic partnership to acquire InFinance XP S.A., formerly known as Financiera Oh!, for a total consideration of $130 million. The transaction was executed through the purchase of IXP Holding Corp. from IFH Retail Corp. and structured as a joint venture between the two entities. This acquisition is strategically significant as it combines IFS's comprehensive financial platform—which includes banking, insurance, wealth management, and payment services via Interbank, Inteligo, Interseguro, and Izipay—with InRetail's extensive retail network of over 4,000 stores across Peru. InFinance XP adds substantial scale to the joint venture, contributing approximately three million customers, S/ 1.7 billion in total loans, and S/ 1.5 billion in total deposits. The company has also recently developed SIP, a digital application that integrates financial and payments products with a loyalty program. The integration is expected to create a robust ecosystem for payments and consumer financing, enhancing value propositions for consumers and providing a scalable platform for digital solutions. This move allows the combined entity to leverage InRetail's geographic reach to expand access and convenience for millions of families through a customer-centric financial offering.