Financial holding company Intergroup Financial Services Corp. (INTG, IFS.VL) posted first quarter net income of 159.5 million soles ($60.4 million) compared with PEN151.3 million in the same quarter a year earlier.

The company posted first-quarter net income of PEN630.9 million, compared with PEN581.6 million in the same quarter a year earlier.

"Net earnings increased 5.4% YoY, due to higher financial income and fee income at Interbank, partially offset by growth in provisions and administrative expenses," the company said.

Intergroup Financial Services Corp is the main shareholder of Interbank. It also owns insurance company, Interseguro.

-By Robert Kozak; Dow Jones Newswires; 511-99927-7269; peru@dowjones.com

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