Intercorp Financial Services Inc. Common Shares (IFS)

Competitors to Intercorp Financial Services Inc. Common Shares (IFS)

Banco BICE

Banco BICE, while primarily focused in Chile, also competes in the Peruvian market, particularly in corporate and investment banking. Its emphasis on providing personalized services and tailored financial products competes with Intercorp’s offerings to small and medium enterprises. However, Banco BICE's relative size and market presence compared to Intercorp in Peru limits its ability to establish a competitive advantage on a larger scale. Thus, while BICE competes effectively in niche segments, Intercorp retains an edge in broader retail banking services.

BBVA Peru

BBVA Peru, a subsidiary of the Spanish multinational BBVA, operates in the Peruvian banking sector and competes with Intercorp by offering a wide range of financial products including personal loans, mortgages, and investment services. The technology-driven approach of BBVA, particularly in digital banking, allows it to attract younger customers who prefer online banking solutions. While Intercorp has a strong local presence, BBVA's financial backing and advanced digital infrastructure give it a competitive advantage in innovative service delivery.

Credicorp Ltd. 

Credicorp Ltd. is a leading financial services holding company in Peru, and it competes directly with Intercorp Financial Services across various sectors including banking, insurance, and investment banking. Credicorp has a significant market share in retail and wholesale banking due to its extensive branch network and strong brand recognition, which allow it to offer comparable products to those of Intercorp. The competition presents a strong challenge for Intercorp as Credicorp's diversified financial portfolio and established customer base provide it with a competitive edge.

Scotiabank Peru 

Scotiabank Peru, part of the Canadian Scotiabank group, enters the competitive landscape through its extensive range of banking and financial services designed to cater to both personal and corporate clients. The bank has a significant focus on providing tailored financing solutions and investment products that compete directly with those of Intercorp Financial Services. Scotiabank’s well-established international presence and diversified service offerings provide them leverage over local banks like Intercorp in attracting foreign investments and clients, but Intercorp's strong local integration allows it to maintain a loyal customer base.