Financial Data and Key Metrics Changes - The company reported a record net income of PEN 1.9 billion, marking a 49% increase compared to the prior year [10][12] - Return on equity (ROE) was strong at 16.8%, with an adjusted ROE of 18.5% excluding the Rutas de Lima impairment [10][20] - Risk-adjusted net interest margin (NIM) increased by 50 basis points to 4% in the last quarter, with a low cost of risk at 2.1% [12][13] Business Line Data and Key Metrics Changes - Interbank achieved a record net income of PEN 1.4 billion, supported by a decrease in cost of risk and an increase in risk-adjusted NIM [7][10] - Interseguro's written premiums grew by 61% year-over-year, driven by private annuities [12][13] - Inteligo reported a 68% increase in revenues, achieving an ROE of 21.5% [17][20] Market Data and Key Metrics Changes - The Peruvian economy is expected to grow by 3.3% in 2025, driven by consumption-related sectors and private investment [4][14] - The Peruvian sol appreciated by approximately 10% over the year, with inflation remaining stable around 1.5% [6][15] - Private investment is projected to grow by 9.5% for the full year, supported by a rebound in mining investment [15][16] Company Strategy and Development Direction - The company remains committed to a focus on profitable growth, prioritizing digital excellence and customer relationships [8][9] - Investments in technology and innovation are key to maintaining competitive advantage and enhancing customer experiences [9][22] - The company aims to strengthen its position in the Peruvian market while managing risks prudently [6][9] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the company's outlook, citing resilience in downturns and a solid foundation for long-term growth [9][10] - The company anticipates continued growth in higher-yielding loans and a gradual increase in cost of risk as the consumer and small business portfolios expand [29][51] - Management remains cautious due to political cycles and global market volatilities, but expects to maintain a stable growth trajectory [15][16] Other Important Information - The company made a PEN 205 million impairment related to Rutas de Lima, with no further material impairments expected [18][19] - The cost-to-income ratio stands at 36.8%, reflecting ongoing strategic investments [22][30] Q&A Session Summary Question: Impact of Rutas de Lima on future results - Management indicated that they expect no further material impacts from Rutas de Lima, having provisioned around 80% of the expected impairment [45][49] Question: Loan growth and asset quality expectations - Management expects continued growth in higher-yielding loans, with a slight increase in cost of risk anticipated as these loans grow [46][51] Question: Operating expenses growth outlook - Management indicated that operating expenses will likely grow in line with previous years as they continue to invest in technology and strengthen teams [47] Question: Long-term ROE targets - Management targets a midterm ROE of 18%, with potential for 20% as the higher-yielding loan book recovers [56][70]