Intercorp Financial Services Reports Q1 Earnings Dip

Intercorp Financial Services (IFS) has released an update.

Intercorp Financial Services Inc. reported a substantial decrease in net profit for the first quarter of 2024, falling by over 50% compared to both the previous quarter and the same period last year. The company’s annualized return on equity (ROE) also declined to 5.6%, highlighting challenges including lower other income, a significant reduction in insurance results, and decreased fee income from financial services. These financial headwinds were slightly offset by reduced loan loss provisions and a small uptick in net interest and similar income.

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