Intercorp Financial Services Inc. (IFS) reported robust earnings for the fourth quarter of 2024, with a 71% increase in yearly profit. This strong performance contributed to a solid financial year for the company. The company maintained a strong Common Equity Tier 1 (CET 1) ratio, indicating sound capital adequacy.
IFS observed higher fee generation across its operations, particularly from its Wealth Management division and Credit Card segments. These areas contributed to the overall profitability and diversified revenue streams. The company also noted improvements in asset quality and a recovery in consumer confidence.
Looking ahead, IFS management has set a target of approximately 16% Return on Equity (ROE) for the full year 2025. This guidance reflects the company's confidence in continued economic growth and its strategic initiatives to drive profitability.
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