IFS and its subsidiaries are committed to creating and maintaining a CGP that embraces the highest standards currently in force in the market.
Accordingly, IFS and its subsidiaries have adopted the Code of Corporate Governance for Peruvian Companies approved by the Peruvian Securities Commission (“Superintendencia del Mercado de Valores” or “SMV”) which is based on the Principles for Corporate Governance of the OECD (Organization for Economic Co-operation and Development).Additionally IFS and its subsidiaries have tailor made corporate governance regulations approved by their correspondent corporate bodies that govern the activities and influence all their other internal regulations.
In this sense, IFS and its subsidiaries are aware that CGP practices finally provide a higher aggregate value, by promoting principles of transparency, trust, equal treatment, social responsibility, fluidity and integrity of information, and creating a consolidation of strong bonds between companies, their stakeholders and the community in general.
In compliance with Peruvian securities market regulations, IFS and its subsidiaries diligently publish and submit if applicable to the SMV their Annual Reports, Annual Information Documents and self-evaluations of all CGP principles considered by SMV for CGP oversight purposes.
The CGP regulatory framework adopted by IFS is documented in the following normative bodies:
- Insider Trading Politics and Proceedings
- Code of Ethics and Standards of Corporate Behavior
- Related Party Transactions Policy
- Corporate Governance Guidelines
- Audit Committee Charter
- Code of Internal Rules of Conduct
IFS and its subsidiaries recognize and prioritize the rights of their stakeholders. They encourage cooperation between these groups and the company while guaranteeing respect for stakeholders’ rights.
Among their different interest groups, IFS and its subsidiaries recognize their people as the single most important driver of corporate development.
IFS and its subsidiaries believe that a motivated workforce leads to high quality customer service, which in turn leads to satisfied customers and better results. Our commitment to fostering a motivated workforce and merit-based culture is demonstrated by being ranked among the top Peruvian and Latin American companies in all of our business by the Great Place to Work Institute. In this sense, Interbank is the only Peruvian company that has been chosen by the Peruvian Great Place to Work Institute as one of the 20 best places to work in Peru for the past 16 consecutive years and one of the top 20 places to work in Latin America for the past 8 years. Similarly, Interseguro is the only Peruvian insurance company that has been chosen as one of the top five best places to work in Peru (medium-size category) by the Peruvian Great Place to Work Institute for the past 7 consecutive years, including first place in 2012 and second place in 2013 for Peru and fifth place for Latin America. Additionally, Inteligo SAB has been ranked among the top ten companies in its category (companies with 30 to 250 employees) since it started participating in the Peruvian Great Place to Work Institute survey in 2011, currently it is the only Peruvian brokerage house included in the ranking.
Interbank, Interseguro and Inteligo will continue their efforts to attract, develop, train and retain highly qualified personnel and to maintain a merit-based culture that emphasizes teamwork to keep a motivated workforce that delivers high quality service. A relevant example is Interbank University, created in 2008 , a training initiative available to all of the more than 55,000 Intercorp Group’s employees, designed to enable them to align their abilities and skills with the groups’s business objectives, while fully sharing the Intercorp Group’s values and culture.
Corporate Social Responsibility (CSR)
IFS’ CSR efforts are carried out by its subsidiaries, with a priority on providing education, infrastructure and health care services in addition to sponsoring environmental and cultural initiatives in Peru.
Relevant examples of these initiatives are: (i) “El Maestro Que Deja Huella” (The teacher who makes a difference), a nationwide contest designed to recognize the positive ‘footprint’ of educators in their students and community based on the experiences in the classroom; (ii) “Obras por Impuestos” (Works in exchange of taxes), a hands-on activity which fosters an efficient use of corporate tax proceeds to cover the needs of infrastructure works in the region of influence; (iii) “Dona una Gota de Amor” (Donate a drop of love) blood donation effort among the employees; and (iv) “Exhibición del Patronato Plata del Peru” (Silver Board of Trustees of Peru Exhibition) recognition of silversmiths’ craftsmanship from different regions of Peru.
At IFS, we continue to work on the analysis and strategic definition of new social initiatives, which we consider part of our responsible business management.