Intercorp Financial Services hits Q2 2026 estimates

Intercorp Financial Services reported second-quarter 2026 net profit that met market estimates, driven by loan book expansion despite narrowing net interest margins.

The Peruvian financial group said net income for the three months ended June 30 totaled 512 million soles ($138 million), aligning with the median forecast from analysts surveyed by Bloomberg. Total loans grew 8% year-over-year to 42.1 billion soles, supported by demand in retail and SME segments, the company stated in a regulatory filing.

Net interest margin declined 12 basis points sequentially to 5.4%, reflecting competitive pricing in the local banking sector and higher funding costs. Intercorp offset some of the pressure through a 15% increase in non-interest income, primarily from fee-based services and insurance operations.

Cost efficiency improved as the bank’s operating expense ratio fell to 48.7% from 50.2% in the prior quarter. Provisions for credit losses rose 7% year-over-year to 281 million soles, in line with asset growth and conservative risk management.

Intercorp maintained its full-year 2026 guidance for net profit growth of 6-8% and a cost-to-income ratio below 50%, citing stable macroeconomic conditions in Peru. Shares were little changed in Lima trading following the results.