Mission Statement, Vision, & Core Values (2024) of Intercorp Financial Services Inc. (IFS)

An Overview of Intercorp Financial Services Inc. (IFS)

General Summary of Intercorp Financial Services Inc.

Intercorp Financial Services Inc. (IFS) was established in 1996 and has since evolved into a prominent financial services conglomerate in Peru. The company offers a diverse range of financial products and services, including retail banking, insurance, investment banking, and asset management. As of 2024, IFS operates various subsidiaries, including Banco Interbank, Interseguro, and Interbank Asset Management.

In 2024, IFS reported consolidated sales of approximately $2.1 billion, with significant contributions from its retail banking division, which accounts for about 65% of total revenue. Additionally, IFS's digital banking initiatives have propelled the growth of its customer base, reaching over 5 million clients across multiple platforms.

Company's Financial Performance in the Latest Financial Reports

In the latest financial reports for the year ending December 31, 2023, Intercorp Financial Services Inc. achieved record-breaking revenue of $2.8 billion, representing an increase of 12% compared to the previous year. Notably, the retail banking sector generated $1.8 billion in revenue, showcasing a robust growth rate of 15%. Additionally, the insurance segment experienced a remarkable expansion with a revenue increase of 10%, totaling $400 million.

Moreover, IFS has successfully expanded its market presence, with an increase in deposits by 14% and net income reaching $600 million, marking a 20% increase from 2022. The company’s return on equity (ROE) stood at 18%, further solidifying its position in the financial sector.

Introduction to Company as One of the Leading Companies in the Industry

Intercorp Financial Services Inc. is recognized as one of the leading companies in the Peruvian financial industry, known for its strong customer focus and innovative solutions. The company consistently ranks among the top financial institutions in terms of customer satisfaction and operational efficiency, driven by its commitment to leveraging technology and enhancing digital banking capabilities.

As a testament to its leadership in the sector, IFS has received multiple awards, including Best Retail Bank and Best Digital Bank in Peru for 2023. The company’s strategic initiatives and robust financial performance continue to attract investor interest, making it a key player in Latin America's financial landscape.

To understand more about the factors contributing to IFS's success and its operational strategies, further details are available below.

Mission Statement of Intercorp Financial Services Inc. (IFS)

Mission Statement Overview

The mission statement of Intercorp Financial Services Inc. (IFS) serves as a foundational element that delineates the organization's purpose and strategic direction. It is crucial for guiding the company's long-term goals and ensuring alignment across various business units. IFS's mission emphasizes a commitment to providing innovative financial solutions that enhance the well-being of clients and communities.

Core Component 1: Customer Centricity

At the heart of IFS's mission is an unwavering focus on customer satisfaction. The company aims to deliver high-quality financial products and services that meet the diverse needs of its clientele.

• In 2023, IFS reported a customer satisfaction score of 92%, based on a survey conducted among 10,000 clients.
• The company achieved a Net Promoter Score (NPS) of 78, significantly higher than the industry average of 50.
• Investment in customer service led to a 15% year-on-year increase in retention rates.

Core Component 2: Innovation

Innovation stands as a pillar of IFS's mission, driving the development of cutting-edge financial technologies and services. The commitment to innovation is evident in several areas:

• IFS invested approximately $50 million in technology R&D in 2023, representing a 20% increase from the previous year.
• The launch of the IFS mobile app in early 2023 resulted in over 500,000 downloads within the first six months.
• IFS's digital platform has reduced transaction times by 30%, enhancing overall customer experience.

Core Component 3: Community Engagement

Community engagement is integral to IFS's mission, reflecting the company's dedication to fostering sustainable growth and positive social impact. IFS engages in various initiatives to support the wider community:

• In 2023, IFS allocated $15 million to community development programs, supporting over 200 local projects.
• The company has partnered with non-profits to provide financial literacy workshops, reaching over 10,000 participants annually.
• IFS’s corporate social responsibility (CSR) initiatives have resulted in a 10% increase in community satisfaction ratings since 2022.

Vision Statement of Intercorp Financial Services Inc. (IFS)

Vision for Growth and Innovation

The vision of Intercorp Financial Services Inc. (IFS) emphasizes a commitment to sustainable growth and innovation. As of 2024, IFS aims to achieve a 10% annual growth rate in its financial services sector, supported by strategic investments in technology and innovation. The company has allocated $200 million for technological advancements over the next five years, focusing on enhancing digital capabilities and customer experience.

Customer-Centric Approach

IFS envisions a future where customer experience is at the forefront of its services. The company aims to increase its Net Promoter Score (NPS) by 15 points by 2025, indicating a stronger customer loyalty and satisfaction. As part of this initiative, the company has implemented a customer feedback system that captures data from over 100,000 customers annually to refine its offerings.

Regional Expansion

In line with its vision, IFS plans to expand its footprint across Latin America. By the end of 2024, the company targets a 20% increase in its market presence in countries such as Colombia, Chile, and Ecuador. In 2023, IFS generated approximately $1.5 billion in revenue from these regions, contributing to its overall success.

Commitment to Sustainability

IFS recognizes the importance of sustainability in its operations. The vision statement includes a commitment to achieving carbon neutrality by 2030. The company has set aside $50 million for sustainability initiatives, including renewable energy projects and community development programs over the next five years. In 2023, IFS reduced its carbon footprint by 25%.

Financial Stability and Resilience

With a clear vision for financial stability, IFS aims to maintain a return on equity (ROE) of 15% or higher through efficient capital management and risk assessment strategies. As of Q3 2023, the company reported a total equity of $4 billion, positioning itself for sustained profitability.

Core Values of Intercorp Financial Services Inc. (IFS)

Integrity

Integrity forms the cornerstone of Intercorp Financial Services Inc. (IFS) culture. It signifies transparency, honesty, and accountability in all business practices.

IFS has demonstrated this value through its compliance initiatives. In 2023, IFS increased its compliance training programs by 25%, ensuring that 95% of employees completed training on ethical standards and regulatory obligations.

Customer Centricity

Customer Centricity emphasizes placing customers at the core of IFS's operations, ensuring that all services are tailored to meet their needs.

In 2023, IFS launched a new customer feedback program that increased customer satisfaction scores from 78% to 88% within a year. Additionally, the company introduced a 24/7 customer support line, reducing average response times from 45 minutes to under 10 minutes.

Innovation

Innovation drives IFS to continually improve and adapt its products and services, ensuring relevance in a competitive marketplace.

In 2023, IFS invested $10 million in technology upgrades and launched two new digital platforms, leading to a 30% increase in online transaction volumes. These innovations have positioned IFS as a leader in digital financial services.

Responsibility

Responsibility reflects IFS's commitment to ethical behavior and sustainable practices, both socially and environmentally.

In 2023, IFS initiated a program to reduce its carbon footprint, achieving a 20% reduction in greenhouse gas emissions. The company also donated $2 million to community development projects, positively impacting over 15,000 individuals.

Collaboration

Collaboration underpins the teamwork and partnerships that IFS fosters within its organization and with external stakeholders.

In 2023, IFS formed strategic partnerships with three fintech companies, leading to a 40% increase in collaborative projects. The company also reported a 35% increase in employee engagement scores, attributed to enhanced cross-department initiatives.