UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

Form 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 OF THE

SECURITIES EXCHANGE ACT OF 1934

For the month of February 2020

Commission File Number 001-38965

INTERCORP FINANCIAL SERVICES INC.

(Registrant’s name)

Intercorp Financial Services Inc.

Torre Interbank, Av. Carlos Villarán 140

La Victoria

Lima 13, Peru

(51) (1) 615-9011

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F: Form 20-F  ☒ Form 40-F  ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):  ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):  ☐

On February 13, 2020, Intercorp Financial Services Inc. (“IFS”) announced its unaudited results for the fourth quarter of 2019, which were approved by the Board on February 13, 2020. IFS’ interim condensed consolidated unaudited results as of December 31, 2019 and December 31, 2018, and the corresponding Management Discussion and Analysis are attached hereto.

EXHIBIT INDEX

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Intercorp Financial Services Inc.

Fourth Quarter 2019 Earnings

Lima, Peru, February 13, 2020. Intercorp Financial Services Inc. (Lima Stock Exchange/NYSE: IFS) announced today its unaudited results for the fourth quarter 2019. These results are reported on a consolidated basis under IFRS in nominal Peruvian soles.

Intercorp Financial Services: Strong earnings growth QoQ and YoY, with adjusted ROAE⁽¹⁾ at 18.6%

Interbank: Strong growth and profitability in 4Q19 and FY19

Interseguro: Profitability continued to improve with FY19 ROAE at 14.2% and 4Q19 at 14.7%

Inteligo: Solid year in earnings with ROAE at 25.3%⁽⁷⁾

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Intercorp Financial Services

SUMMARY

2019 Performance

Intercorp Financial Services’ net profit was S/ 1,450.1 million in 2019, a 32.9% increase compared to 2018. The higher profits were mainly driven by growths of S/ 288.6 million in net interest and similar income, S/ 183.4 million in other income and S/ 51.5 million in net fee income from financial services, in addition to a S/ 111.8 million improvement in net insurance underwriting result. These effects were partially offset by increases of S/ 140.8 million in other expenses and S/ 90.7 million in impairment loss on loans, net of recoveries.

It is worth mentioning that in 2018 IFS adopted new mortality tables for its insurance business, which represented a negative impact of S/ 144.8 million, accounted through a higher (negative) adjustment of technical reserves. Additionally, the execution of a Liability Management transaction in the banking segment in 2019 represented a one-off financial expense of S/ 42.5 million, or S/ 29.0 million after taxes. When normalizing from these non-recurring effects in 2018 and 2019, respectively, IFS’ profits would have increased 19.7% in the comparing period.

Growth in net interest and similar income was mainly explained by higher interest on loans at Interbank, attributed to double-digit loan growth combined with stable yields, and despite the one-off expense from the liability management transaction previously mentioned.

Impairment loss on loans, net of recoveries increased in 2019 mainly as a result of higher provision requirements in credit cards and mortgages, partially compensated by lower requirements in the commercial portfolio. It is worth mentioning that the provision expense was impacted by (i) the reversion of payroll deduction loan provisions for S/ 38.8 million in 2Q19, and (ii) the reversion of

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loan loss provisions for S/ 104.1 million in 4Q19 due to fine-tuning of IFRS9 models reflecting improved risk profile on customers. Likewise, loan loss provision in 2018 showed an S/ 83.0 million reversion of provisions in corporate loans, related to the bank’s exposure to the construction sector.

The increase in fee income from financial services was mainly due to higher commissions from credit card services and advisory services at Interbank.

Other income grew as a result of positive performance across all three subsidiaries, particularly from foreign exchange transactions at Interbank and from sale of securities at Interseguro.

Total premiums earned less claims and benefits were S/ -295.7 million in 2019, an improvement of S/ 111.8 million compared to the previous year, mainly explained by a decrease of S/ 94.3 million in adjustment of technical reserves, in addition to higher net premiums and lower net claims and benefits incurred.

The increase in other expenses was mostly attributed to growth in depreciation and amortization charges, salaries and employee benefits at Interbank, as well as to higher general expenses at Interseguro. Inteligo also contributed with other expenses related to the amortization of assets acquired as part of the Interfondos transaction early in the year.

IFS ROAE was 18.3% in 2019, higher than the 16.6% reported in 2018. Excluding the non-recurring impact of the adoption of new mortality tables, ROAE was 18.4% in 2018. While excluding the one-off impact of the Liability Management transaction, ROAE was 18.6% in 2019, still a 20 basis point improvement in adjusted terms.

Intercorp Financial Services’ Statement of financial position

4Q19 Performance

Intercorp Financial Services’ net profit was S/ 412.8 million in 4Q19, a S/ 78.3 million increase QoQ, or 23.4%, and a S/ 132.4 million growth YoY, or 47.2%. IFS annualized ROAE was 19.0% in 4Q19, higher than the 16.8% reported in 3Q19 and the 15.9% registered in 4Q18. It is worth mentioning that IFS’ net profit in 4Q19 was impacted by (i) the reversion of loan loss provisions for S/ 104.1 million, or S/ 73.4 million after taxes, due to fine-tuning of IFRS9 models reflecting improved risk profile on customers at Interbank, and (ii) the one-off impact of a Liability Management transaction in financial expense for S/ 42.5 million, or S/ 29.0 million after taxes, also at Interbank. When excluding the one-off impact of the Liability Management transaction previously mentioned, 4Q19 annualized ROAE was 20.3%.

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Intercorp Financial Services’ P&L statement

Quarter-on-quarter performance

Profits increased 23.4% QoQ mainly due to a lower impairment loss on loans at Interbank, in addition to increases in other income and net fee income from financial services at both Inteligo and Interbank. Furthermore, a positive performance in translation result at Interseguro and Inteligo also contributed to the quarterly growth in earnings. These effects were partially compensated by lower net interest and similar income at Interbank, in addition to lower net premiums earned at Interseguro and higher other expenses, also at Interseguro.

Net interest and similar income decreased 2.2% QoQ, mainly due to higher interest on bonds, notes and other obligations, in turn impacted by the one-off expense from a liability management transaction; partially offset by higher interest on loans, all at Interbank.

Impairment loss on loans decreased 33.9% mainly as a result of the reversion of loan loss provisions previously mentioned, at Interbank.

Net fee income from financial services grew 8.9% QoQ, mainly explained by growth in commissions from banking services, commissions from credit card services, and fees from maintenance and mailing of accounts, transfer fees and commissions on debit card services, all at Interbank. Additionally, rebalancing activities implemented for Inteligo’s client portfolios throughout the year, together with portfolio implementation strategies for new client funds and brokerage fees, also contributed to the positive performance.

Other income increased 28.1% QoQ mainly due to the gain on sale of written-off loans, as well as to an increase in net gain on foreign exchange transactions and on financial assets at fair value at Interbank. Moreover, positive mark-to-market valuations on Inteligo’s proprietary portfolio in the quarter, also contributed to this result.

Total premiums earned minus claims and benefits at Interseguro showed a quarterly reduction of S/ 16.4 million, explained by S/ 10.7 million higher adjustment of technical reserves and an increase of S/ 4.3 million net claims and benefits incurred.

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Other expenses increased 3.2% QoQ mainly due to higher salaries and employee benefits, and administrative expenses, all at Interseguro.

IFS effective tax rate remained stable QoQ, at 26.3%.

Year-on-year performance

Profits increased 47.2% YoY mostly due to growth in other income across all subsidiaries, net interest and similar income at Interbank, and net fee income from financial services at both Inteligo and Interbank. Furthermore, the YoY performance in earnings benefited from lower impairment loss on loans at Interbank, and a positive performance in translation result at Interseguro and Inteligo.

Net interest and similar income increased 5.9% YoY, mainly driven by higher interest on loans and interest on due from banks and inter-bank funds at Interbank.

Impairment loss on loans decreased 29.2% mainly as a result of the reversion of loan loss provisions previously mentioned, at Interbank.

Net fee income from financial services increased 7.5% YoY mainly due to lower expenses related to the sale of insurance products, in addition to increases in commissions from credit card services, in fees from maintenance and mailing of accounts, transfer fees and commissions on debit card services, and in commissions from banking services, all at Interbank. Additionally, rebalancing activities implemented for Inteligo’s client portfolios throughout the year, together with portfolio implementation strategies for new client funds and brokerage fees, also contributed to growth in revenues.

Other income increased 81.2% YoY mainly explained by higher net gain on foreign exchange transactions and on financial assets at fair value at Interbank, in addition to higher net gain on sale of financial investments at Interseguro and Inteligo.

Total premiums earned minus claims and benefits at Interseguro decreased S/ 11.6 million explained by S/ 16.0 million lower net premiums, partially offset by reductions of S/ 2.3 million in net claims and benefits incurred, and S/ 2.2 million in adjustment of technical reserves.

Other expenses grew across all subsidiaries, in particular due to higher depreciation and amortization charges at Interbank, as well as to the amortization of assets from Interfondos’ acquisition at Inteligo.

IFS effective tax rate decreased slightly, from 26.6% in 4Q18 to 26.3% in 4Q19, mainly attributed to a lower effective tax rate at Interbank and higher tax-exempt profits from Inteligo and Interseguro.

CONTRIBUTION BY SEGMENTS

The following table shows the contribution of Interbank, Interseguro and Inteligo to Intercorp Financial Services’ net profit. The performance of each of the three segments is discussed in detail in the following sections.

Intercorp Financial Services’ Profit by segment

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Interbank

SUMMARY

2019 Performance

Interbank’s net profit reached S/ 1,228.5 million in 2019, a 21.5% increase compared to the previous year. The main factors that contributed to this result were growth of 40.2% in other income, 11.7% in net interest and similar income, and 8.9% in net fee income from financial services. These factors were partially offset by increases of 13.6% in loan loss provisions and 7.2% in other expenses.

It is worth mentioning that Interbank’s results in 2019 were affected by (i) the gain on sale of Interfondos, Interbank’s former mutual funds subsidiary, to Inteligo for S/ 32.4 million after taxes in 1Q19; (ii) the reversion of payroll deduction loan provisions for S/ 27.4 million after taxes in 2Q19; (iii) the reversion of loan loss provisions for S/ 73.4 million after taxes in 4Q19 due to fine-tuning of IFRS9 models reflecting improved risk profile on customers; and (iv) the one-off impact of a Liability Management transaction for S/ 29.0 million after taxes in 4Q19.

Interbank’s ROAE, excluding the gain on sale of Interfondos and the one-off impact of the Liability Management transaction previously mentioned, was 21.3% in 2019, higher than the 20.2% registered in 2018.

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Net interest and similar income grew 11.7% due to a 14.5% increase in interest and similar income, partially offset by a 20.8% growth in interest and similar expense.

Growth in interest and similar income was due to increases of more than two-fold in interest on due from banks and inter-bank funds, and 14.2% in interest on loans, partially offset by a 5.8% decrease in interest on financial investments.

Interest on due from banks and inter-bank funds grew by S/ 60.3 million, or 127.7%, explained by increases of 60 basis points in the nominal average rate and 10.5% in the average volume. The higher nominal average rate, from 0.5% in 2018 to 1.1% in 2019, was due to improved returns on reserve requirements at the Central Bank, inter-bank funds and deposits at the Central Bank. On the other hand, growth in the average volume was the result of higher balances of reserve requirements and deposits at the Central Bank, partially offset by lower restricted funds and inter-bank funds. It is worth mentioning that the increase in reserve requirements was related to higher gathering of deposits, while the lower restricted funds, to fewer Repo transactions with the Central Bank throughout the year.

The increase in interest on loans accounted for most of the growth in interest and similar income, and was attributed to a 14.1% higher average volume, while the nominal average rate remained stable, at 10.9%.

The higher average volume of loans was the result of increases of 16.6% in retail loans and 11.3% in commercial loans. In the retail portfolio, the increase was mainly explained by growth of 23.5% in credit cards, 13.1% in payroll deduction loans and 12.8% in mortgages; while in the commercial portfolio, by increases of 14.4% in trade finance loans and 12.0% in short and medium-term loans, partially offset by a 5.4% reduction in leasing operations.

The nominal average rate on loans remained stable as yield reductions of 10 basis points in both retail and commercial loans were compensated by a higher proportion of credit cards within loans, since this product contributes with a higher average yield than the rest of components, even if its nominal average rate decreased when compared to 2018.

The S/ 12.9 million lower interest on financial investments was due to an 11.3% decrease in the average volume, partially offset by a 20 basis point increase in the average rate, from 3.6% in 2018 to 3.8% in 2019. The reduction in volume was a result of lower investments global bonds, Central Bank Certificates of Deposits (CDBCR), and corporate bonds, partially offset by higher balances of sovereign bonds. On the other hand, the reduction in the average rate was the result of lower returns on corporate bonds from non-financial institutions, CDBCR and sovereign bonds.

As a result of the above, the nominal average yield on interest-earning assets grew 30 basis points, from 7.9% in 2018 to 8.2% in 2019.

Interest and similar expense increased 20.8% with respect to the previous year. This was explained by growth of 25.9% in interest on bonds, notes and other obligations, and 24.4% in interest on deposits; partially offset by a decrease of 1.5% in interest on due to banks and correspondents.

Interest on bonds, notes and other obligations grew S/ 85.7 million, or 25.9% YoY, as a result of two bond placements in the international market in September 2019, for S/ 312 million and US$ 400 million, both due in October 2026, in addition to other two issuances in the local market in March 2019: (i) Certificates of Deposit for S/ 150 million due March 2020, and (ii) Corporate Bonds for S/ 150 million due March 2029. Additionally, the higher financial expense on bonds was also due to the execution of an optional redemption of the prevailing “5.75% Senior Notes due 2020” which implied a non-recurring expense of S/ 42.5 million, as these bonds were being negotiated above its face value (above par). Excluding this effect, the financial expense on bonds would have increased 13.1%.

The higher interest on deposits was due increases of 11.5% in the average volume and 20 basis points in the average cost, to 2.1%. Growth in volume was attributed to increases in commercial, retail and institutional deposits. By currency, average balances of soles deposits grew 15.8% while average dollar deposits increased 4.7%. The higher cost of deposits resulted from increases in rates paid to institutional, commercial and retail deposits. This was mainly observed in time deposits, but also in commercial current accounts and retail savings accounts.

Interest on due to banks and correspondents decreased as a result of a 5.1% reduction in the average volume, partially compensated by a 20 basis point increase in the average cost, from 4.0% in 2018 to 4.2% in 2019. The reduction in the average volume was mainly due to lower funding provided by the Central Bank, as well as to a reduction in inter-bank funds. The increase in the nominal average cost was explained by higher rates on funding from correspondent banks abroad and inter-bank funds, partially offset by a lower rate on funds provided by the Central Bank.

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The average cost of funding increased 30 basis points, from 2.7% in 2018 to 3.0% in 2019, in line with the higher implicit cost of all interest-bearing liabilities. Excluding the expense of the optional redemption of the prevailing “5.75% Senior Notes due 2020” corporate bonds, the average cost of funding would have increased 20 basis points, to 2.9%.

As a result of the above, net interest margin was 5.6% in 2019, 10 basis points higher than the 5.5% reported in 2018. However, excluding the expense of the optional redemption of the prevailing “5.75% Senior Notes due 2020” corporate bonds, net interest margin would have increased 20 basis points, to 5.7%.

Impairment loss on loans, net of recoveries increased 13.6% in 2019 compared to the previous year. The increase in provision expenses was mainly a result of higher provision requirements in credit cards and mortgages, partially compensated by lower requirements in the commercial portfolio, especially in the medium-enterprise segment. It is worth mentioning that the provision expense in 2019 was impacted by (i) the reversion of payroll deduction loan provisions for S/ 38.8 million in 2Q19, and (ii) the reversion of loan loss provisions for S/ 104.1 million in 4Q19 due to fine-tuning of IFRS9 models reflecting improved risk profile on customers. Likewise, provision for loan losses in 2018 showed an S/ 83.0 million reversion of provisions in corporate loans, related to the bank’s exposure to the construction sector.

The S/ 67.5 million, or 8.9%, increase in fee income from financial services was mainly attributable to higher commissions from credit card services and advisory services.

Other income grew S/ 124.6 million, or 40.2%, mainly due increases of S/ 46.6 million in net gain on foreign exchange transactions and on financial assets at fair value, and S/ 23.0 million in net gain on sale of financial investments. It is worth mentioning that, as reported in 1Q19, the higher income at Interbank from the sale of Interfondos to Inteligo is eliminated upon consolidation.

Other expenses increased S/ 108.7 million, or 7.2%, as a result of growth of 63.9% in depreciation and amortization, and 5.9% in salaries and employee benefits, partially compensated by a 0.8% reduction in administrative expenses. Expense items related to IT services and loyalty programs were among those which rose the most, as these were associated with bank’s digital transformation efforts and the higher credit cards activity, respectively.

The efficiency ratio was 38.9% in 2019, an improvement compared to the 40.9% registered in 2018. However, excluding the gain on sale of Interfondos and the one-off impact of the Liability Management transaction previously mentioned, the efficiency ratio was 38.0% in 2019.

Income before translation result and income tax increased 20.5% in 2019, which was then supported by an improvement in translation result and a lower effective tax rate, from 27.1% in 2018 to 26.8% in 2019. As a result of the above, profit for the period increased 21.5% compared to 2018.

4Q19 Performance

Interbank’s profits reached S/ 337.5 million in 4Q19, a S/ 46.3 million increase QoQ, or 15.9%, and an increase of S/ 98.6 million YoY, or 41.3%. The quarterly result was mainly due to a S/ 75.7 million reduction in impairment loss on loans, in addition to increases of S/ 8.7 million in other income and S/ 6.3 million in net fee income from financial services. These effects were partially offset by a S/ 25.1 million decrease in net interest and similar income, while other expenses remained relatively stable.

The annual result was mainly due to a S/ 60.9 million reduction in impairment loss on loans, in addition to increases of S/ 46.2 million in net interest and similar income, S/ 28.6 million in other income and S/ 10.9 million in net fee income from financial services. These effects were partially offset by a S/ 14.1 million increase in other expenses. The effective tax rate was 26.8% in 4Q19, compared to 26.9% in 4Q18.

It is worth mentioning that Interbank’s net profit in 4Q19 was impacted by (i) the reversion of loan loss provisions for S/ 104.1 million, or S/ 73.4 million after taxes, due to fine-tuning of IFRS9 models reflecting improved risk profile on customers, and (ii) the one-off impact of a Liability Management transaction in financial expense for S/ 42.5 million, or S/ 29.0 million after taxes.

Interbank’s ROAE, excluding the one-off impact of the Liability Management transaction previously mentioned, was 23.6% in 4Q19, higher than the 19.8% registered in 3Q19 and the 18.0% reported in 4Q18.

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Banking Segment’s P&L Statement

INTEREST-EARNING ASSETS

Interbank’s interest-earning assets reached S/ 50,947.4 million as of December 31, 2019, an increase of 4.1% QoQ and 12.2% YoY.

The quarterly growth in interest-earning assets was attributed to increases of 10.2% in financial investments and 4.9% in loans, partially compensated by a 1.6% reduction in cash and due from banks and inter-bank funds. The increase in financial investments was mainly a result of higher volumes of CDBCR, sovereign bonds and corporate bonds, while the decrease in cash and due from banks and inter-bank funds was mainly explained by lower reserve requirements at the Central Bank.

The YoY increase in interest-earning assets was attributed to growth of 20.0% in cash and due from banks and inter-bank funds, and 13.2% in loans, partially offset by a 4.0% reduction in financial investments. The increase in cash and due from banks and inter-bank funds was mainly due to higher reserve funds and deposits at the Central Bank, while the reduction in financial investments, to lower volumes of global bonds and corporate bonds.

Interest-earning assets

Loan portfolio

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Performing loans grew 4.8% QoQ due to increases of 6.8% in commercial loans and 3.2% in retail loans. Excluding loan repo transactions accounted in 4Q19, commercial loans grew 3.5% QoQ.

Growth in commercial loans was explained by higher short and medium-term loans, as well as trade finance loans, mostly in the corporate segment.

The quarterly increase in retail loans was due to increases of 3.7% in credit cards, 3.0% in mortgages and 2.8% in other consumer loans. Growth in other consumer loans was mainly explained by higher cash loans, payroll deduction loans and car loans, while the increase in mortgages was due to a higher demand in both traditional and MiVivienda products.

Performing loans grew 12.8% YoY due to increases of 15.8% in retail loans and 9.5% in commercial loans. Excluding loan repo transactions accounted in 4Q19, commercial loans grew 6.0% YoY.

The annual growth in retail loans was mainly due to increases of 20.5% in credit cards, 14.9% in other consumer loans and 13.0% in mortgages. Other consumer loans grew as a result of higher cash loans and payroll deduction loans; while mortgages increased due to a higher demand in both traditional and MiVivienda products.

The YoY increase in commercial loans was mainly explained by higher trade finance loans and short and medium-term lending, also supported by the above mentioned loan repo transactions..

Breakdown of retail loans

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FUNDING STRUCTURE

Funding structure

Interbank’s total funding base slightly increased 0.3% QoQ, below the performance of interest-earning assets. This was explained by a 5.4% increase in deposits and obligations, partially compensated by reductions of 19.7% in bonds, notes and other obligations, and 7.1% in due to banks and correspondents and inter-bank funds.

The increase in deposits and obligations was mainly due to growth of 42.6% in institutional deposits and 4.3% in retail deposits, partially compensated by a 7.0% decrease in commercial deposits.

The reduction in bonds, notes and other obligations was due to the execution of an optional redemption of the prevailing “5.75% Senior Notes due 2020” corporate bonds between October and November of 2019.

Finally, the decrease in due to banks and correspondents and inter-bank funds was attributed to lower medium-term funding from the Central Bank.

The bank’s total funding base increased 11.2% YoY, below the annual growth in interest-earning assets, and was mainly explained by growth of 13.7% in deposits and obligations, and 7.8% in bonds, notes and other obligations, partially compensated by a 3.5% decrease in due to banks and correspondents and inter-bank funds.

The annual growth in deposits and obligations was explained by increases of 23.6% in institutional deposits, 11.5% in retail deposits and 11.3% in commercial deposits.

The YoY increase in bonds, notes and other obligations was mainly attributable to two bond placements in the international market in September 2019, for S/ 312 million and US$ 400 million, both due in October 2026, as well as to other two issuances in the local market in March 2019: (i) Certificates of Deposit for S/ 150 million due March 2020, and (ii) Corporate Bonds for S/ 150 million due March 2029. This growth was partially compensated by the execution of the optional redemption previously mentioned, as well as to the execution of a call option in July 2019 for a US$ 30 million bond in the local market.

The YoY reduction in due to banks and correspondents and inter-bank funds was the result of lower short-term funding from correspondent banks abroad and medium-term funding from the Central Bank and COFIDE.

As of December 31, 2019, the proportion of deposits and obligations to total funding was 78.7%, higher than the 77.0% reported as of December 31, 2018. Likewise, the proportion of institutional deposits to total deposits increased from 17.6% as of December 31, 2018 to 19.1% as of December 31, 2019.

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Breakdown of deposits

NET INTEREST AND SIMILAR INCOME

Net interest and similar income

Interest and similar income