History - Intercorp Financial Services
Building financial well-being since 1897
IFS is a corporation (sociedad anónima) organized in 2006 under the laws of Panama. We are the majority owner and controlling shareholder of our subsidiaries, Interbank, Interseguro, Inteligo and Izipay, which comprise our banking, insurance, wealth management and payments segments, respectively. We are responsible for coordinating, supervising and establishing their strategy and management policies. In 2007, we conducted an initial public offering of our common shares publicly in Peru and privately outside of Peru. In 2019, we listed our common shares in the New York Stock Exchange concurrently with the initial public offering of our shares in such market.
Interbank is an open-stock corporation (sociedad anónima abierta). Interbanc was incorporated in Lima, Peru in 1897 and formerly conducted business under the names “Banco Internacional del Perú S.A.” and “Interbank”. In August 1994, as part of the government’s privatization efforts, 91% of Interbank’s share capital was acquired by Corporación Interbank, which subsequently transferred its holdings in Interbank to the Rodríguez-Pastor family through Intercorp Peru, a limited liability company organized under the laws of the Commonwealth of The Bahamas that is listed on the Lima Stock Exchange. After Interbank’s acquisition by Intercorp Peru in 1994, Interbank began conducting business under the name “Interbank” as part of a rebranding and modernization effort, and has become a leading universal bank in Peru.
Interseguro is a corporation (sociedad anónima) that was incorporated in 1998 by Intercorp Peru, pursuant to an agreement between Intercorp Peru and The Bankers Trust Company (“Bankers Trust”) (at the time the controlling shareholder of Consorcio Nacional de Seguros S.A., the largest insurer in Chile) to benefit from the expansion of the insurance business in Peru. In connection with the sale of Bankers Trust to Deutsche Bank AG in 1999, Bankers Trust’s interest in Interseguro was sold to a group of Chilean investors, and in 2000 Intercorp Peru acquired the portion of Interseguro that it did not own. In 2017, the purchase and merger with Seguros Sura S.A. (“Seguros Sura”) and Hipotecaria Sura Empresa Administradora Hipotecaria S.A. (“Hipotecaria Sura”) consolidated Interseguro’s leadership in the annuities market, as well as strengthened its position in credit life insurance.
Inteligo Group Corp. (“Inteligo”) was incorporated under the laws of Panama in 2006. The group comprises three companies: Inteligo Bank, Inteligo SAB and Interfondos SAF. Inteligo Bank, incorporated in 1995 in the Bahamas, formerly operated as Interbank Overseas Ltd. and Blubank Ltd. Inteligo SAB is a corporation (sociedad anónima) that began operations in 1993. On July 18, 2014, IFS’s board approved Inteligo’s acquisition through a share exchange for 19.5 million IFS common shares. Inteligo SAB, organized under Peruvian law, is licensed by the SMV for brokerage, custody, portfolio management and advisory services. In January 2019, we consolidated wealth management at Inteligo by transferring Interbank’s mutual funds subsidiary, Interfondos S.A., to Inteligo, where asset management is the core business.
While Interbank has owned 50% of PMP (Procesos de Medios de Pago S.A.) and its subsidiary Izipay for more than a decade, in April 2022, we acquired the remaining 50% ownership interest of PMP and its subsidiary Izipay, consolidating such subsidiaries into our corporate group and creating our payments segment.