Financial Data and Key Metrics Changes - The company reported a net income of PEN 456 million for Q3 2025, representing an 81% increase year-over-year, with a return on equity (ROE) of approximately 16% [10][17] - The accumulated ROE for the first nine months of 2025 stands at 17.4%, which would have been 18.3% excluding the one-off impact from Rutas de Lima [16][17] - Risk-adjusted net interest margin (NIM) improved by 60 basis points over the past quarter, with a current NIM of 3.8% [10][27] Business Line Data and Key Metrics Changes - Interbank's loan portfolio grew by over 5% year-over-year, with higher-yielding loans increasing by 7% [21][36] - Interseguro reported double-digit growth in its core business, particularly in private annuities and life insurance, with retail premiums growing by 58% year-over-year [11][33] - Inteligo achieved record highs in assets under management, growing at a double-digit pace [8][31] Market Data and Key Metrics Changes - Peru's GDP growth accelerated to 3.3% as of August 2025, with private investment projected to grow by 6.5% by year-end [4][12] - Inflation in Peru remains low at around 1.7%, and the Peruvian sol has appreciated by approximately 10% this year [4][12] - The internal demand projection for 2025 has been revised upward to 5.1%, driven by strong growth in private investment and consumption [12][14] Company Strategy and Development Direction - The company aims for focused and profitable growth, emphasizing digital excellence and deepening primary client relationships through data-driven services [8][40] - There is a commitment to enhancing the digital experience and expanding sales through digital channels, particularly in insurance and wealth management [35][40] - The strategy includes leveraging synergies between business segments, particularly between Interseguro and Inteligo [8][33] Management's Comments on Operating Environment and Future Outlook - Management maintains a cautious outlook due to international conditions and the pre-election period, but remains optimistic about Peru's economic stability and growth prospects [4][5] - The company is closely monitoring the Rutas de Lima situation, which has led to a provision of PEN 78 million, but this represents less than 1% of the total investment book [5][42] - Future growth is expected to be supported by strong consumer demand and the anticipated positive impact of pension fund withdrawals on liquidity [46][50] Other Important Information - The company has made strategic investments in technology to enhance user experience and improve cybersecurity [20] - The cost-to-income ratio stands at 37.7%, reflecting ongoing investments to support long-term growth ambitions [20][38] - The sustainable loan portfolio has exceeded $350 million, supporting projects with measurable positive impacts [39][40] Q&A Session Summary Question: Can you provide details about the impairment related to Rutas de Lima? - Management indicated that 40% of the impairment has already been booked, and they are closely monitoring the situation as legal proceedings continue [42][44] Question: How will pension fund withdrawals impact retail growth? - The pension withdrawals may have a short-term negative impact on loan growth, but they are expected to enhance liquidity and collections in the near term [45][46] Question: What are the expectations for loan growth in 2025 and 2026? - The company expects to continue accelerating growth in credit cards and consumer finance, with a focus on gaining market share [49][50] Question: What is the outlook for corporate-level disbursements in 2026? - Corporate activity is expected to remain mild, with no large projects anticipated, primarily focusing on working capital replenishment and refinancing [51][52]