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Business segments (Tables)
 12 Months Ended
Dec. 31, 2023
Disclosure of operating segments [abstract]  
Group's Financial Information
 
The following table presents the Group’s financial information by business segments for the years ended December 31, 2023, 2022 and 2021:
 
    
2023
  
    
Banking
    
Insurance
    
Wealth
management
    
Payments
    
Holding and
consolidation adjustments
    
Total
consolidated
  
     S/(000)     S/(000)     S/(000)     S/(000)     S/(000)     S/(000)  
Total income (*)
             
Third party
      7,812,858       1,695,222       291,408       829,766       (199,126 )      10,430,128  
Inter-segment
      (126,620 )      (4,975 )      (1,386 )      (13,862 )      146,843       —   
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Total income
      7,686,238       1,690,247       290,022       815,904       (52,283 )      10,430,128  
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Consolidated statement of income data
             
Interest and similar income
      6,076,020       851,648       183,926       9,255       (438 )      7,120,411  
Interest and similar expenses
      (2,363,800 )      (126,704 )      (98,370 )      (4,907 )      1,415       (2,592,366 ) 
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Net interest and similar income
      3,712,220       724,944       85,556       4,348       977       4,528,045  
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
(Loss) recovery to impairment of loans
      (1,981,988 )      —        170       —        —        (1,981,818 ) 
(Loss) recovery due to impairment of financial investments
      15       (7,858 )      347       —        (4 )      (7,500 ) 
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Net interest and similar income after impairment loss on loans
      1,730,247       717,086       86,073       4,348       973       2,538,727  
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Fee income from financial services, net
      813,279       (13,431 )      146,223       345,583       (113,192 )      1,178,462  
Net (loss) gain on sale of financial investments
      (660 )      9,948       (2,857 )      —        —        6,431  
Other income (expenses)
      495,500       112,990       (37,332 )      45,942       (65,716 )      551,384  
Result from insurance activities, before expenses
      —        (178,379 )      —        —        (13 )      (178,392 ) 
Depreciation and amortization
      (271,526 )      (21,658 )      (15,018 )      (55,144 )      (15,692 )      (379,038 ) 
Other expenses
      (1,678,356 )      (352,933 )      (138,589 )      (277,578 )      76,327       (2,371,129 ) 
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Income (loss) before translation result and Income Tax
      1,088,484       273,623       38,500       63,151       (117,313 )      1,346,445  
Exchange difference
      (15,969 )      18,430       761       (2,347 )      7,552       8,427  
Income Tax
      (216,366 )      —        (3,081 )      (27,735 )      (28,414 )      (275,596 ) 
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Net profit (loss) for the year
      856,149       292,053       36,180       33,069       (138,175 )      1,079,276  
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Attributable to:
             
IFS’s shareholders
      856,149       292,053       36,180       33,069       (144,723 )      1,072,728  
Non-controlling interest
      —        —        —        —        6,548       6,548  
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
     856,149       292,053       36,180       33,069       (138,175 )      1,079,276  
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
 
(*)
Corresponds to interest income, net profit on the sale of financial investments, other income, income from commissions for banking services and income from insurance services.
 
 
    
2022
  
    
Banking (**)
    
Insurance
    
Wealth
management
    
Payments(***)
    
Holding and
consolidation adjustments
    
Total
consolidated
  
     S/(000)     S/(000)     S/(000)     S/(000)     S/(000)     S/(000)  
Total income (*)
             
Third party
      6,459,232       1,663,992       75,706       595,360       138,647       8,932,937  
Inter-segment
      (125,848 )      (3,288 )      (1,668 )      (12,548 )      143,352       —   
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Total income
      6,333,384       1,660,704       74,038       582,812       281,999       8,932,937  
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Consolidated statement of income data
             
Interest and similar income
      4,774,378       940,894       155,116       1,569       (655 )      5,871,302  
Interest and similar expenses
      (1,476,942 )      (130,049 )      (50,306 )      (1,269 )      (3,123 )      (1,661,689 ) 
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Net interest and similar income
      3,297,436       810,845       104,810       300       (3,778 )      4,209,613  
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
(Loss) recovery to impairment of loans
      (832,919 )      —        2,368       —        —        (830,551 ) 
Loss due to impairment of financial investments
      (732 )      (26 )      (11,981 )      —        (13 )      (12,752 ) 
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Net interest and similar income after impairment loss on loans
      2,463,785       810,819       95,197       300       (3,791 )      3,366,310  
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Fee income from financial services, net
      797,711       (7,160 )      163,325       258,728       (75,218 )      1,137,386  
Net loss on sale of financial investments
      (2,891 )      (1,613 )      (9,781 )      —        —        (14,285 ) 
Other income
      478,308       47,536       (234,702 )      36,040       229,528       556,710  
Result from insurance activities, before expenses
      —        (252,854 )      —        —        —        (252,854 ) 
Depreciation and amortization
      (257,210 )      (23,682 )      (15,044 )      (30,185 )      (10,105 )      (336,226 ) 
Other expenses
      (1,673,581 )      (318,528 )      (130,453 )      (202,565 )      34,215       (2,290,912 ) 
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Income (loss) before translation result and Income Tax
      1,806,122       254,518       (131,458 )      62,318       174,629       2,166,129  
Exchange difference
      (22,800 )      950       (7,146 )      2,316       1,202       (25,478 ) 
Income Tax
      (409,201 )      —        (2,791 )      (23,560 )      (26,985 )      (462,537 ) 
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Net profit (loss) for the year
      1,374,121       255,468       (141,395 )      41,074       148,846       1,678,114  
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Attributable to:
             
IFS’s shareholders
      1,374,121       255,468       (141,395 )      41,074       138,758       1,668,026  
Non-controlling interest
      —        —        —        —        10,088       10,088  
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
     1,374,121       255,468       (141,395 )      41,074       148,846       1,678,114  
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
 
(*)
Corresponds to interest income, net profit on the sale of financial investments, other income, income from commissions for banking services and income from insurance services.
(**)
Includes 50 percent of Interbank’s participation in Izipay until March 2022,
for the 
date on which Izipay becomes a subsidiary of the Group, see Note 1(d).
(***)
As of December 31, 2022, the payments segment corresponds to the profit generated by Izipay during the nine-month period ended December 31, 2022.
 
 
    
2021
  
    
Banking (**)
    
Insurance
    
Wealth
management
    
Holding and
consolidation adjustments
    
Total
consolidated
  
     S/(000)     S/(000)     S/(000)     S/(000)     S/(000)  
Total income (*)
           
Third party
      4,866,775       1,676,185       487,339       (49,914 )      6,980,385  
Inter-segment
      (99,094 )      (383 )      (3,402 )      102,879       —   
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Total income
      4,767,681       1,675,802       483,937       52,965       6,980,385  
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Consolidated statement of income data
           
Interest and similar income
      3,636,810       802,961       154,328       11,526       4,605,625  
Interest and similar expenses
      (893,060 )      (117,531 )      (39,840 )      (7,506 )      (1,057,937 ) 
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Net interest and similar income
      2,743,750       685,430       114,488       4,020       3,547,688  
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Impairment loss on loans
      (379,034 )      —        (2,543 )      —        (381,577 ) 
(Loss) recovery due to impairment of financial investments
      (527 )      33,198       (1,615 )      (158 )      30,898  
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Net interest and similar income after impairment loss on loans
      2,364,189       718,628       110,330       3,862       3,197,009  
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Fee income from financial services, net
      677,461       (6,802 )      196,959       (43,810 )      823,808  
Net gain on sale of financial investments
      99,938       146,797       3,623       268       250,626  
Other income
      452,566       87,919       132,429       (17,898 )      655,016  
Total net premiums earned minus claims and benefits
      —        (272,037 )      —        (42 )      (272,079 ) 
Depreciation and amortization
      (245,432 )      (25,035 )      (14,977 )      5,754       (279,690 ) 
Other expenses
      (1,542,487 )      (325,242 )      (128,444 )      13,094       (1,983,079 ) 
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Income (loss) before translation result and Income Tax
      1,806,235       324,228       299,920       (38,772 )      2,391,611  
Exchange difference
      7,241       (51,493 )      (7,570 )      (37,498 )      (89,320 ) 
Income Tax
      (453,198 )      —        (8,805 )      (40,109 )      (502,112 ) 
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Net profit (loss) for the year
      1,360,278       272,735       283,545       (116,379 )      1,800,179  
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Attributable to:
           
IFS’s shareholders
      1,360,278       272,735       283,545       (126,403 )      1,790,155  
Non-controlling interest
      —        —        —        10,024       10,024  
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
     1,360,278       272,735       283,545       (116,379 )      1,800,179  
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
 
(*)
Corresponds to interest income, net profit on the sale of financial investments, other income, income from commissions for banking services and income from insurance services.
(**)
Includes 50 percent of Interbank’s profit from Izipay, which were recorded in the caption “Other income”.
Purchase of properties
    
2023
  
    
Banking
     
Insurance
     
Wealth management
     
Payments
     
Holding and
consolidation adjustments
     
Total
consolidated
  
     S/(000)      S/(000)      S/(000)      S/(000)      S/(000)      S/(000)  
Capital investments (*)
      327,513        21,184        6,430        89,646        163        444,936  
Total assets
      68,437,614        15,225,254        4,374,266        1,196,049        391,596        89,624,779  
Total liabilities
      60,380,895        14,787,105        3,453,408        946,660        48,610        79,616,678  
 
    
2022
  
    
Banking
     
Insurance
     
Wealth management
     
Payments
     
Holding and
Consolidation adjustments
    
Total
consolidated
  
     S/(000)      S/(000)      S/(000)      S/(000)      S/(000)     S/(000)  
Capital investments (*)
      258,887        41,599        3,443        92,133        1,004       397,066  
Total assets
      66,977,277        14,133,681        5,102,598        902,610        365,923       87,482,089  
Total liabilities
      59,498,433        13,769,222        4,208,369        686,292        (106,454 )      78,055,862  
 
(*)
Includes the purchase of property, furniture and equipment, intangible assets and investment properties.