Peru: State reform proposals and Intercorp Financial Services profit growth

Roque Benavides, executive president of Compañía de Minas Buenaventura, has proposed a structural reform of the Peruvian state to improve efficiency and economic growth. Benavides suggests consolidating the current 19 ministries into five ‘super-ministries’ to enhance operational control and decision-making. His proposed structure includes a Ministry of Production, a Ministry of Social Development integrating health and education, a Ministry of the Future focused on digitalization, and a reinforced Ministry of Justice.

In the financial sector, Intercorp Financial Services (IFS) reported a net profit of S/ 585 million for the second quarter of 2026, bringing its first-semester total to S/ 1,187 million, a 16% increase compared to the previous year. IFS CEO Luis Felipe Castellanos attributed the growth to investments in digital channels, data analytics, and artificial intelligence. The holding company, which includes Interbank, Inteligo, Interseguro, and Izipay, noted a recovery in consumer and business confidence in Peru, with Interbank seeing significant growth in consumer and small business credit.