Cover Page
Cover Page | 12 Months Ended |
Dec. 31, 2023 shares | |
Document Information [Line Items] | |
Document Type | 20-F |
Amendment Flag | false |
Document Period End Date | Dec. 31, 2023 |
Document Fiscal Year Focus | 2023 |
Document Fiscal Period Focus | FY |
Trading Symbol | IFS |
Entity Registrant Name | INTERCORP FINANCIAL SERVICES INC. |
Entity Central Index Key | 0001615903 |
Current Fiscal Year End Date | --12-31 |
Entity Shell Company | false |
Entity Emerging Growth Company | false |
Entity Common Stock, Shares Outstanding | 114,480,010 |
Title of 12(b) Security | Common Shares |
Security Exchange Name | NYSE |
Document Annual Report | true |
Document Transition Report | false |
Entity Voluntary Filers | No |
Document Shell Company Report | false |
Document Registration Statement | false |
Entity Interactive Data Current | Yes |
Entity Well-known Seasoned Issuer | No |
Entity Current Reporting Status | Yes |
Entity Filer Category | Large Accelerated Filer |
Entity Address, Address Line One | Torre Interbank, Av. Carlos Villarán 140 |
Entity Address, Address Line Two | La Victoria |
Entity Address, City or Town | Lima |
Entity Address, Country | PE |
ICFR Auditor Attestation Flag | true |
Entity File Number | 001-38965 |
Document Accounting Standard | International Financial Reporting Standards |
Auditor Firm ID | 1315 |
Auditor Name | Tanaka, Valdivia, & Asociados S. Civil de R.L. |
Auditor Location | Lima, Peru |
Entity Incorporation, State or Country Code | R1 |
Entity Address, Postal Zip Code | 13 |
Document Financial Statement Error Correction [Flag] | false |
Business Contact [Member] | |
Document Information [Line Items] | |
Entity Address, Address Line One | Torre Interbank, Av. Carlos Villarán 140 |
Entity Address, Address Line Two | La Victoria |
Entity Address, City or Town | Lima |
Entity Address, Country | PE |
Contact Personnel Name | Michela Casassa Ramat |
City Area Code | 511 |
Local Phone Number | 219-2000 |
Contact Personnel Email Address | mcasassa@intercorp.com.pe |
Entity Address, Postal Zip Code | 13 |
Extension | 22110 |
Consolidated statement of finan
Consolidated statement of financial position - PEN (S/) S/ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 | Jan. 01, 2022 |
Cash and due from banks | |||
Non-interest bearing | S/ 3,059,226 | S/ 4,012,293 | S/ 3,931,419 |
Interest bearing | 6,038,794 | 8,712,874 | 12,488,242 |
Restricted funds | 720,691 | 468,244 | 684,804 |
Cash and cash equivalents | 9,818,711 | 13,193,411 | 17,104,465 |
Inter-bank funds | 524,915 | 296,119 | 30,002 |
Financial investments | 26,721,991 | 22,787,598 | 24,547,294 |
Loans, net | |||
Loans, net of unearned interest | 48,869,807 | 47,530,853 | 45,070,500 |
Impairment allowance for loans | (2,349,425) | (2,027,855) | (2,064,917) |
Loans and receivables | 46,520,382 | 45,502,998 | 43,005,583 |
Investment property | 1,298,892 | 1,287,717 | 1,224,454 |
Property, furniture and equipment, net | 804,832 | 791,432 | 815,118 |
Due from customers on acceptances | 40,565 | 45,809 | 152,423 |
Intangibles and goodwill, net | 1,687,120 | 1,633,202 | 1,044,749 |
Other accounts receivable and other assets, net | 2,125,148 | 1,743,963 | 1,834,483 |
Reinsurance contract assets | 26,287 | 34,053 | 53,849 |
Deferred income tax asset, net | 55,936 | 165,787 | 142,367 |
Total assets | 89,624,779 | 87,482,089 | 89,954,787 |
Deposits and obligations | |||
Non-interest bearing | 7,960,318 | 8,684,678 | 9,270,255 |
Interest bearing | 41,227,916 | 39,846,030 | 39,627,689 |
Deposits From Customers | 49,188,234 | 48,530,708 | 48,897,944 |
Inter-bank funds | 119,712 | 30,012 | 0 |
Due to banks and correspondents | 9,025,930 | 7,100,646 | 8,522,849 |
Bonds, notes and other obligations | 5,551,629 | 7,906,303 | 8,389,672 |
Due to customers on acceptances | 40,565 | 45,809 | 152,423 |
Insurance and reinsurance contract liabilities | 12,207,536 | 11,231,321 | 12,788,829 |
Other accounts payable, provisions and other liabilities | 3,407,360 | 3,129,164 | 2,468,242 |
Deferred income tax liability, net | 75,712 | 81,899 | 0 |
Total liabilities | 79,616,678 | 78,055,862 | 81,219,959 |
Equity attributable to IFS's shareholders: | |||
Capital stock | 1,038,017 | 1,038,017 | 1,038,017 |
Treasury stock | (84,309) | (3,363) | (3,363) |
Capital surplus | 532,771 | 532,771 | 532,771 |
Reserves | 6,000,000 | 6,000,000 | 5,200,000 |
Unrealized results, net | (457,793) | (554,421) | (302,477) |
Retained earnings | 2,921,531 | 2,359,464 | 2,219,902 |
Equity attributable to owners of parent | 9,950,217 | 9,372,468 | 8,684,850 |
Non-controlling interest | 57,884 | 53,759 | 49,978 |
Total equity | 10,008,101 | 9,426,227 | 8,734,828 |
Total liabilities and equity | S/ 89,624,779 | S/ 87,482,089 | S/ 89,954,787 |
Consolidated statement of incom
Consolidated statement of income - PEN (S/) shares in Thousands, S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Profit or loss [abstract] | |||
Interest and similar income | S/ 7,120,411 | S/ 5,871,302 | S/ 4,605,625 |
Interest and similar expenses | (2,592,366) | (1,661,689) | (1,057,937) |
Net interest and similar income | 4,528,045 | 4,209,613 | 3,547,688 |
Impairment loss on loans, net of recoveries | (1,981,818) | (830,551) | (381,577) |
(Loss) recovery due to impairment of financial investments | (7,500) | (12,752) | 30,898 |
Net interest and similar income after impairment loss | 2,538,727 | 3,366,310 | 3,197,009 |
Fee income from financial services, net | 1,178,462 | 1,137,386 | 823,808 |
Net gain on foreign exchange transactions | 306,431 | 380,154 | 423,022 |
Net gain (loss) on sale of financial investments | 6,431 | (14,285) | 250,626 |
Net gain (loss) on financial assets at fair value through profit or loss | 15,181 | (308,256) | 63,097 |
Net gain on investment property | 73,072 | 84,631 | 79,399 |
Other income | 156,700 | 400,181 | 89,498 |
Other operating income | 1,736,277 | 1,679,811 | 1,729,450 |
Result from insurance activities | (178,392) | (252,854) | (272,079) |
Other expenses | |||
Salaries and employee benefits | (897,275) | (870,480) | (807,382) |
Administrative expenses | (1,288,862) | (1,179,788) | (965,505) |
Depreciation and amortization | (379,038) | (336,226) | (279,690) |
Other expenses | (184,992) | (240,644) | (210,192) |
Operating expense | (2,750,167) | (2,627,138) | (2,262,769) |
Income before translation result and Income Tax | 1,346,445 | 2,166,129 | 2,391,611 |
Exchange difference | 8,427 | (25,478) | (89,320) |
Income tax | (275,596) | (462,537) | (502,112) |
Net profit for the year | 1,079,276 | 1,678,114 | 1,800,179 |
Attributable to: | |||
IFS's shareholders | 1,072,728 | 1,668,026 | 1,790,155 |
Non-controlling interest | 6,548 | 10,088 | 10,024 |
Net profit for the year | S/ 1,079,276 | S/ 1,678,114 | S/ 1,800,179 |
Earnings per share attributable to IFS's shareholders, basic (stated in Soles) | S/ 9.327 | S/ 14.452 | S/ 15.51 |
Earnings per share attributable to IFS's shareholders, diluted (stated in Soles) | S/ 9.327 | S/ 14.452 | S/ 15.51 |
Weighted average number of outstanding shares (in thousands) | 115,012 | 115,418 | 115,419 |
Consolidated statement of other
Consolidated statement of other comprehensive income - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Statement of comprehensive income [abstract] | |||
Net profit for the year | S/ 1,079,276 | S/ 1,678,114 | S/ 1,800,179 |
Other comprehensive income that will not be reclassified to the consolidated statement of income in subsequent periods: | |||
Gains (losses) on valuation of equity instruments at fair value through other comprehensive income | 16,220 | (21,924) | 146,161 |
Income tax | (157) | 218 | (31) |
Total gain (loss) unrealized that will not be reclassified to the consolidated statement of income | 16,063 | (21,706) | 146,130 |
Other comprehensive income to be reclassified to the consolidated statement of income in subsequent periods: | |||
Net movement of debt instruments at fair value through other comprehensive income | 1,134,509 | (1,833,856) | (2,282,111) |
Income tax | (3,645) | 8,250 | 8,404 |
Other Comprehensive Income Net Of Tax Financial Assets Measured At Fair Value Through Other Comprehensive Income | 1,130,864 | (1,825,606) | (2,273,707) |
Insurance premiums reserve | 0 | 0 | 1,392,280 |
Insurance reserves at fair value | (970,191) | 1,714,334 | 0 |
Net movement of cash flow hedges | (29,112) | (62,954) | 97,943 |
Income tax | 6,336 | 8,670 | (15,696) |
Total | (22,776) | (54,284) | 82,247 |
Translation of foreign operations | (21,970) | (50,165) | 95,674 |
Total gain (loss) unrealized to be reclassified to the consolidated statement of income in subsequent periods | 115,927 | (215,721) | (703,506) |
Other comprehensive income for the year | 131,990 | (237,427) | (557,376) |
Total comprehensive income for the year, net of Income tax | 1,211,266 | 1,440,687 | 1,242,803 |
Attributable to: | |||
IFS's shareholders | 1,202,789 | 1,432,395 | 1,236,980 |
Non-controlling interest | 8,477 | 8,292 | 5,823 |
Total comprehensive income for the year, net of Income tax | S/ 1,211,266 | S/ 1,440,687 | S/ 1,242,803 |
Consolidated Statement of Share
Consolidated Statement of Shareholders' Equity - PEN (S/) S/ in Thousands | Total | Issued capital [member] | Treasury shares [member] | Share premium [member] | Other reserves [member] | Equity instruments at fair value [Member] | Debt instruments at fair [Member] | Insurance premiums reserves [Member] | Cash flow hedges [Member] | Foreign currency translation [Member] | Retained earnings [Member] | Total [Member] | Non-controlling interest [Member] |
Beginning, balance at Dec. 31, 2020 | S/ 8,953,949 | S/ 1,038,017 | S/ (2,769) | S/ 532,771 | S/ 5,200,000 | S/ 297,212 | S/ 1,667,103 | S/ (1,255,845) | S/ (37,108) | S/ 165,411 | S/ 1,303,317 | S/ 8,908,109 | S/ 45,840 |
Beginning, balance Shares at Dec. 31, 2020 | 115,447 | (24) | |||||||||||
Statement [Line Items] | |||||||||||||
Net profit for the year | 1,800,179 | 1,790,155 | 1,790,155 | 10,024 | |||||||||
Other comprehensive income | (557,376) | 145,899 | (2,266,729) | 1,389,995 | 81,986 | 95,674 | (553,175) | (4,201) | |||||
Total comprehensive income | 1,242,803 | 145,899 | (2,266,729) | 1,389,995 | 81,986 | 95,674 | 1,790,155 | 1,236,980 | 5,823 | ||||
Declared and paid dividends | (633,853) | (633,853) | (633,853) | ||||||||||
Purchase of treasury stock | (594) | S/ (594) | (594) | ||||||||||
Purchase of treasury stock, Shares | (5) | ||||||||||||
Dividends paid to non-controlling interest of Subsidiaries | (328) | (328) | |||||||||||
Sale of equity instruments at fair value through other comprehensive income, Note | (451,898) | 451,898 | |||||||||||
Others | (6,615) | (6,605) | (6,605) | (10) | |||||||||
Ending balance (Previously stated [member]) at Dec. 31, 2021 | 9,555,362 | S/ 1,038,017 | S/ (3,363) | 532,771 | 5,200,000 | (8,787) | (599,626) | 134,150 | 44,878 | 261,085 | 2,904,912 | 9,504,037 | 51,325 |
Ending balance at Dec. 31, 2021 | 8,734,828 | S/ 1,038,017 | S/ (3,363) | 532,771 | 5,200,000 | (8,787) | (599,626) | (27) | 44,878 | 261,085 | 2,219,902 | 8,684,850 | 49,978 |
Ending balance,Shares (Previously stated [member]) at Dec. 31, 2021 | 115,447 | (29) | |||||||||||
Ending balance,Shares at Dec. 31, 2021 | 115,447 | (29) | |||||||||||
Statement [Line Items] | |||||||||||||
Changes due to first adoption of IFRS 17 "Insurance Contracts", Note 3.7 | Increase (decrease) due to changes in accounting policy [member] | (820,534) | (134,177) | (685,010) | (819,187) | (1,347) | ||||||||
Net profit for the year | 1,678,114 | 1,668,026 | 1,668,026 | 10,088 | |||||||||
Other comprehensive income | (237,427) | (21,663) | (1,821,183) | 1,711,520 | (54,140) | (50,165) | (235,631) | (1,796) | |||||
Total comprehensive income | 1,440,687 | (21,663) | (1,821,183) | 1,711,520 | (54,140) | (50,165) | 1,668,026 | 1,432,395 | 8,292 | ||||
Declared and paid dividends | (751,532) | (751,532) | (751,532) | ||||||||||
Transfer of retained earnings to reserves | 800,000 | (800,000) | |||||||||||
Dividends paid to non-controlling interest of Subsidiaries | (4,511) | (4,511) | |||||||||||
Sale of equity instruments at fair value through other comprehensive income, Note | (16,313) | 16,313 | |||||||||||
Others | 6,755 | 6,755 | 6,755 | ||||||||||
Ending balance at Dec. 31, 2022 | 9,426,227 | S/ 1,038,017 | S/ (3,363) | 532,771 | 6,000,000 | (46,763) | (2,420,809) | 1,711,493 | (9,262) | 210,920 | 2,359,464 | 9,372,468 | 53,759 |
Ending balance,Shares at Dec. 31, 2022 | 115,447 | (29) | |||||||||||
Statement [Line Items] | |||||||||||||
Net profit for the year | 1,079,276 | 1,072,728 | 1,072,728 | 6,548 | |||||||||
Other comprehensive income | 131,990 | 16,055 | 1,127,246 | (968,599) | (22,671) | (21,970) | 130,061 | 1,929 | |||||
Total comprehensive income | 1,211,266 | 16,055 | 1,127,246 | (968,599) | (22,671) | (21,970) | 1,072,728 | 1,202,789 | 8,477 | ||||
Declared and paid dividends | (511,788) | (511,788) | (511,788) | ||||||||||
Purchase of treasury stock | (80,946) | S/ (80,946) | (80,946) | ||||||||||
Purchase of treasury stock, Shares | (938) | ||||||||||||
Dividends paid to non-controlling interest of Subsidiaries | (4,242) | (4,242) | |||||||||||
Sale of equity instruments at fair value through other comprehensive income, Note | (33,433) | 33,433 | |||||||||||
Others | (32,416) | (32,306) | (32,306) | (110) | |||||||||
Ending balance at Dec. 31, 2023 | S/ 10,008,101 | S/ 1,038,017 | S/ (84,309) | S/ 532,771 | S/ 6,000,000 | S/ (64,141) | S/ (1,293,563) | S/ 742,894 | S/ (31,933) | S/ 188,950 | S/ 2,921,531 | S/ 9,950,217 | S/ 57,884 |
Ending balance,Shares at Dec. 31, 2023 | 115,447 | (967) |
Consolidated statements of cash
Consolidated statements of cash flows | 12 Months Ended | ||
Dec. 31, 2023 PEN (S/) | Dec. 31, 2022 PEN (S/) | Dec. 31, 2021 PEN (S/) | |
Cash flows from operating activities | |||
Net profit for the year | S/ 1,079,276,000 | S/ 1,678,114,000 | S/ 1,800,179,000 |
Adjustments to reconcile net profit to net cash flows | |||
Impairment loss on loans, net of recoveries | 1,981,818,000 | 830,551,000 | 381,577,000 |
Loss (recovery) due to impairment of financial investments | 7,500,000 | 12,752,000 | (30,898,000) |
Depreciation and amortization | 379,038,000 | 336,226,000 | 279,690,000 |
Provision for sundry risks | 4,138,000 | 12,661,000 | 14,872,000 |
Deferred Income tax | 102,244,000 | (442,000) | 205,752,000 |
Net (gain) loss on sale of financial investments | (6,431,000) | 14,285,000 | (250,626,000) |
Net (gain) loss on financial assets at fair value through profit or loss | (15,181,000) | 308,256,000 | (63,097,000) |
Net gain on valuation of investment property | (7,111,000) | (19,146,000) | (21,969,000) |
Gain on sale of fixed assets | (15,300,000) | (11,780,000) | |
Fair value adjustment on the participation held by Interbank in Izipay, Note 1(d) | 0 | (222,513,000) | |
Exchange difference | (8,427,000) | 25,478,000 | 89,320,000 |
Increase in accrued interest receivable | (167,468,000) | (168,454,000) | (16,108,000) |
Increase (decrease) in accrued interest payable | 194,285,000 | 121,324,000 | (63,839,000) |
Net changes in assets and liabilities | |||
Net increase in loan portfolio | (2,883,998,000) | (3,204,130,000) | (2,949,964,000) |
Net (increase) decrease in other accounts receivable and other assets | (295,748,000) | 331,287,000 | (199,227,000) |
Net (increase) decrease in restricted funds | (246,775,000) | 225,659,000 | (75,308,000) |
Increase (decrease) in deposits and obligations | 503,544,000 | (467,213,000) | 1,893,763,000 |
Increase (decrease) in due to banks and correspondents | 1,837,830,000 | (1,460,227,000) | (1,138,320,000) |
Increase in other accounts payable, provisions and other liabilities | 558,971,000 | 498,321,000 | 2,430,391,000 |
Decrease (increase) of investments at fair value through profit or loss | 323,112,000 | 481,087,000 | (659,972,000) |
Income tax paid | (450,125,000) | (334,173,000) | (280,412,000) |
Net cash provided by (used in) operating activities | 2,875,192,000 | (1,012,077,000) | 1,345,804,000 |
Cash flows from investing activities | |||
Purchase of investments at fair value through other comprehensive income and at amortized cost | (3,120,456,000) | (857,589,000) | (1,911,799,000) |
Purchase of property, furniture and equipment | (147,645,000) | (135,036,000) | (87,282,000) |
Purchase of intangible assets | (280,388,000) | (227,270,000) | (170,528,000) |
Purchase of investment property | (16,903,000) | (34,760,000) | (156,892,000) |
Sale of property, furniture and equipment | 32,667,000 | 54,313,000 | |
Purchase of subsidiaries, net of cash received | (193,215,000) | ||
Net cash used in investing activities | (3,532,725,000) | (1,393,557,000) | (2,326,501,000) |
Cash flows from financing activities | |||
Dividends paid | (511,788,000) | (751,532,000) | (633,853,000) |
Payments of bonds, notes and other obligations | (2,189,040,000) | (137,900,000) | (91,000,000) |
Net increase in receivable inter-bank funds | (228,796,000) | (266,117,000) | (11,897,000) |
Net increase (decrease) in payable inter-bank funds | 91,245,000 | 30,482,000 | (30,945,000) |
Purchase of treasury stock, net | (80,946,000) | (594,000) | |
Dividend payments to non-controlling interest | (4,776,000) | (4,174,000) | (30,000) |
Lease payments | (89,334,000) | (146,982,000) | (93,379,000) |
Net cash used in financing activities | (3,013,435,000) | (1,276,223,000) | (861,698,000) |
Net decrease in cash and cash equivalents | (3,670,968,000) | (3,681,857,000) | (1,842,395,000) |
Translation gain (loss) on cash and cash equivalents | 37,403,000 | (26,678,000) | 112,787,000 |
Cash and cash equivalents at the beginning of the year | 12,707,776,000 | 16,416,311,000 | 18,145,919,000 |
Cash and cash equivalents at the end of the year, Note 3.4(ag) | 9,074,211,000 | 12,707,776,000 | 16,416,311,000 |
Cash paid by - | |||
Interest | 2,253,881,000 | 1,395,673,000 | 988,315,000 |
Dividends | 516,564,000 | 755,706,000 | 634,181,000 |
Income tax | 450,125,000 | 334,173,000 | 280,412,000 |
Cash received from - | |||
Interest | 6,905,711,000 | 5,620,231,000 | 4,483,746,000 |
Dividends received | 52,215,000 | 88,236,000 | 108,931,000 |
Non-cash transactions - | |||
Recognition of right-of-use assets | S/ 35,901,000 | 33,178,000 | S/ 31,692,000 |
Effect on the participation in Izipay prior to its acquisition, Note 1(d) | S/ (222,513,000) |
Business activity, current cont
Business activity, current context and acquisition of Subsidiaries | 12 Months Ended |
Dec. 31, 2023 | |
Text Block [Abstract] | |
Business activity, current context and acquisition of Subsidiaries | 1. Business activity, current context and acquisition of Subsidiaries (a) Business activity - Intercorp Financial Services Inc. and Subsidiaries (henceforth “IFS”, “the Company” or “the Group”), is a limited liability holding company incorporated in the Republic of Panama on September 19, 2006, and is a Subsidiary of Intercorp Peru Ltd. (henceforth “Intercorp Peru”), a holding Company incorporated in 1997 in the Commonwealth of the Bahamas. As of December 31, 2023, Intercorp Peru holds directly and indirectly 71.44 percent of the issued capital stock of IFS, equivalent to 71.20 percent of the outstanding capital stock of IFS (70.65 percent of the issued capital stock of IFS, equivalent to 70.64 percent of the outstanding capital stock of IFS as of December 31, 2022). IFS’s legal domicile is located at Av. Carlos Villarán 140 Urb. Santa Catalina, La Victoria, Lima, Peru. As of December 31, 2023 and 2022, IFS holds 99.30 percent of the capital stock of Banco Internacional del Peru S.A.A. – Interbank (henceforth “Interbank”), 99.84 percent of the capital stock of Interseguro Compañía de Seguros S.A. (henceforth “Interseguro”), 100 percent of the capital stock of Inteligo Group Corp. (henceforth “Inteligo”) and 100 percent of Procesos de Medios de Pago and its subsidiary Izipay S.A.C. (henceforth and together “Izipay”), acquired in April 2022, see (d). The operations of Interbank, Interseguro and Izipay are concentrated in Peru, while the operations of Inteligo and its Subsidiaries (Interfondos S.A. Sociedad Administradora de Fondos, Inteligo Sociedad Agente de Bolsa S.A. and Inteligo Bank Ltd.) are mainly concentrated in Peru and Panama. The main activities of IFS’s Subsidiaries and their assets, liabilities, equity, operating income, net income, balances and other relevant information are presented in Note 2. The consolidated financial statements of IFS and Subsidiaries as of December 31, 2022, and for the year then ended, were approved by the Board of Directors on April 24, 2023. The consolidated financial statements as of December 31, 2023, and for the year then ended, have been approved and authorized for issuance by Management and the Board of Directors on April 26, 2024. (b) Political and social context in Peru – In December 2022, Pedro Castillo, then President of Peru, attempted to carry out a coup attempt and to establish a State of Exception. Due to this, the Peruvian Congress, through extraordinary session, approved the Pedro Castillo destitution, and designated Dina Boluarte, as a new President of the Republic of Peru. Following the aforementioned, protests and social upheaval erupted in the country. Considering this situation, the Superintendence of Banking, Insurance and Private Pension Funds (henceforth “SBS”, by its Spanish acronym) issued Official Multiple Letters that stablished measures related to loan rescheduling aimed to facilitate the debt payment of the financial sector’s clients. Also, the SBS authorized the entities of the financial sector to modify the contractual conditions of retail loans, provided they comply with several requirements. See further detail in Notes 6(h) and 29.1(d.6). (c) Pandemic Covid-19 - In March 2020, the World Health Organization declared Covid-19 a global pandemic, which resulted in several restrictive measures. Since May 2020, the gradual resumption of economic activities began, according to the measures stablished by the Government considering that in the first semester of 2022, the economic activities reached levels before the pandemic. During the Covid-19 pandemic, the Ministry of Economy and Finance (henceforth “MEF”, by its Spanish acronym), Central Reserve Bank of Peru (henceforth “BCRP”, by its Spanish acronym) and the SBS issued several resolutions aimed to alleviate the impacts of the pandemic. These measures are described in further detail in Notes 6(h), 29.1(d.5) and 29.1(d.6). (d) Acquisition of Procesos de Medios de Pago S.A. and Subsidiary Izipay S.A.C. (“Izipay”) Until March 2022, the Group (through its subsidiary Interbank) held 50 percent of Izipay. In April 2022, IFS acquired the remaining 50 percent of Izipay’s capital stock, thus completing the 100 percent of its capital stock. The amount paid by IFS amounted to US$83,775,000 (equivalent to approximately S/312,647,000). The economic activity of the acquired companies is explained in greater detail in Note 2(g). The acquisition made by IFS was recorded using the “Step acquisition” accounting method, pursuant to IFRS 3 “Business Combinations”. According to this method, the acquirer company must readjust to fair value the previously held equity interest in the acquiree entities. Additionally, assets and liabilities must be recorded at their fair values estimated at the acquisition date, including the identified intangible assets and the resulting goodwill that were not recorded in the statements of financial position of each acquired entity. As a result of the acquisition and pursuant to the accounting regulation in force, the previous participation was adjusted to its fair value with an effect of S/222,513,000, recorded in September 2022 and presented in the caption “Other income” of the consolidated statement of income, see note 21. The expenses associated with the acquisition of approximately S/381,000 were presented in the caption “Administrative expenses” of the consolidated statement of income. The fair values of the assets and liabilities of the acquired entities as of March 31, 2022, the date closest to the takeover, are presented below: Fair value of the acquired entities S/(000) Assets - Cash 119,432 Trade accounts receivable and other receivables 178,982 Inventory 13,600 Deferred assets 102,687 Property, furniture and equipment, Note 8(a) 83,486 Right-of-use assets, Note 8(a) 6,593 Intangibles, Note 9(a) 331,421 Deferred income tax asset 11,014 Other assets 3,903 Liabilities - Financial obligations 26,251 Trade accounts payable and other payables 319,456 Deferred income 25,190 Lease liability 6,593 Other liabilities 223 Deferred income tax liability, Note 15(a) 86,541 Total identifiable net assets at fair value 386,864 Goodwill, Note 9(a) 238,429 Fair value of acquired entities 625,293 The net cash flow incurred as a result of the acquisition is presented below: S/(000) Total price paid 312,647 Cash of acquired companies (119,432 ) 193,215 Since the date of its acquisition until December 31, 2022, Izipay contributed to the Group with consolidated revenues of S/595,360,000 and consolidated net income of S/41,075,000. If the acquisition had taken place at the beginning of the year 2022, they would have contributed with consolidated revenues of S/754,284,000 and consolidated net income of S/51,182,000. |
Subsidiaries
Subsidiaries | 12 Months Ended |
Dec. 31, 2023 | |
Text Block [Abstract] | |
Subsidiaries | 2. Subsidiaries IFS’s Subsidiaries are the following: (a) Banco Internacional del Peru S.A.A. - Interbank and Subsidiaries - Interbank is incorporated in Peru and is authorized by the SBS to operate as a universal bank in accordance with Peruvian law. The Interbank’s operations are governed by the General Act of the Banking and Insurance System and Organic Act of the SBS – Act No. 26702 and its amendments (henceforth “the Banking and Insurance Act”), that establishes the requirements, rights, obligations, restrictions and other operating conditions that financial and insurance entities must comply with in Peru. As of December 31, 2023, Interbank had 153 offices (164 offices as of December 31, 2022). Additionally, it holds approximately 100 percent of the shares of the following Subsidiaries: Entity Activity Internacional de Títulos Sociedad Titulizadora S.A. - Intertítulos S.T. Manages securitization funds. Compañía de Servicios Conexos Expressnet S.A.C. Services related to credit card transactions or products related to the brand “American Express”. (b) Interseguro Compañía de Seguros S.A. and Subsidiary - Interseguro is incorporated in Peru and its operations are governed by the Banking and Insurance Act. It is authorized by the SBS to issue life and general risk insurance contracts. Interseguro holds participations in Patrimonio Fideicometido D.S.093-2002-EF, Interproperties Peru (henceforth “Patrimonio Fideicometido – Interproperties Peru”), that is a structured entity, incorporated in April 2008, and in which several investors (related parties to the Group) contributed investment properties. Each investor or investors have ownership of and specific control over the contributed investment property. The fair values of the properties contributed by Interseguro that were included in this structured entity as of December 31, 2023 and 2022, amounted to S/85,272,000 and S/93,994,000, respectively; see Note 7. For accounting purposes and under IFRS 10 “Consolidated Financial Statements” the assets included in said structure are considered “silos”, because they are ring-fenced parts of the wider structured entity (the Patrimonio Fideicometido - Interproperties Peru). IFS has ownership and decision-making power over these properties and the Group has the exposure or rights to their returns; therefore, IFS consolidates the silos containing the investment properties that it controls. (c) Inteligo Group Corp. and Subsidiaries - Inteligo is an entity incorporated in the Republic of Panama. As of December 31, 2023 and 2022, it holds 100 percent of the shares of the following Subsidiaries: Entity Activity Inteligo Bank Ltd. It is incorporated in The Commonwealth of the Bahamas and has a branch established in the Republic of Panama that operates under an international license issued by the Superintendence of Banks of the Republic of Panama. Its main activity is to provide private and institutional banking services, mainly to Peruvian citizens. Inteligo Sociedad Agente de Bolsa S.A. Brokerage firm incorporated in Peru. Inteligo Peru Holding S.A.C. Financial holding company incorporated in Peru in December 2018. As of December 31, 2023 and 2022, it holds 99.99 percent interest in Interfondos S.A. Sociedad Administradora de Fondos, company that manages mutual funds and investment funds. Inteligo USA, Inc. Incorporated in the United States of America in January 2019, provides investment consultancy and related services. (d) Negocios e Inmuebles S.A. and Holding Retail Peru S.A. - These entities were acquired by IFS as part of the purchase of Seguros Sura and Hipotecaria Sura in year 2017; Note 9(b). In April 2021, Negocios e Inmuebles S.A. (absorbing company) merged with Holding Retail Peru S.A. (absorbed company), the latter being extinguished without liquidation. As of December 31, 2023 and 2022, Negocios e Inmuebles S.A., holds 8.50 percent of Interseguro’s capital stock . (e) San Borja Global Opportunities S.A.C. - Its corporate purpose is the marketing of products and services through Internet, telephony or related and it operates under the commercial name of Shopstar (online Marketplace) dedicated to the sale of products from different stores locally. (f) IFS Digital S.A.C. – Entity incorporated in August 2020, which its corporate purpose is to perform any type of investments and related services. (g) Procesos de Medios de Pago S.A. and subsidiary Izipay S.A.C. (Izipay) – Both companies were acquired in April 2022, as detailed in Note 1(d). Procesos de Medios de Pago is dedicated to the development, management and operation of the shared service of transaction processing of credit and debit cards, through the acquirer role for the brands MasterCard, Visa and other private brands; also, it renders the processing service, through the issuer role, to entities of the financial system. Izipay is dedicated to the facilitation of payments and services, offering its services of technological, operating and safety infrastructure through the affiliation of commercial stores, as well as installation and maintenance of infrastructure for transactions through the electronic commerce modality, interconnected with the networks of payment methods processors. As indicated in Note 1(d), in April 2022, IFS acquired control of Izipay, becoming it its Subsidiary. Since this time, Izipay consolidates its financial information together with IFS. The investment that Interbank held in Izipay until March 31, 2022, is presented as investments in associates in the accompanying consolidated financial statements. The table below presents a summary of the consolidated financial statements of the main Subsidiaries, before adjustments and eliminations for consolidation, as of December 31, 2023 and 2022, in accordance with the IFRS. Additionally, for information on business segments, see Note 27: Interbank and Interseguro - Note 3.7 Inteligo and Izipay 2023 2022 2023 2022 2023 2022 2023 2022 S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Consolidated statement of financial position - Cash and due from banks 8,598,513 11,052,299 266,311 631,156 844,965 1,457,446 130,149 111,087 Financial Investments 11,964,232 9,586,343 12,776,783 11,295,068 1,855,074 1,698,229 56,459 — Loans, net 45,004,811 43,725,346 — — 1,519,659 1,784,343 — — Investment property — — 1,298,892 1,287,717 — — — — Total assets 68,437,614 66,977,277 14,741,746 13,636,383 4,374,266 5,102,598 1,196,049 902,610 Deposits and obligations 46,053,607 44,597,855 — — 3,311,719 4,098,842 — — Due to banks and correspondents 8,669,331 6,726,595 215,560 308,164 84,004 53,937 61,024 18,584 Bonds, notes and other obligations 4,253,188 6,571,539 244,599 251,524 — — — — Insurance contract liabilities — — 12,068,741 11,092,526 — — — — Total liabilities 60,380,895 59,498,433 13,709,303 12,665,533 3,453,408 4,208,369 946,660 686,292 Equity attributable to IFS’s shareholders 8,056,719 7,478,844 1,032,443 970,850 920,858 894,229 249,389 216,318 Consolidated statement of income - Net interest and similar income 3,712,220 3,297,436 778,649 861,964 85,556 104,810 4,348 300 (Loss) recovery due to impairment on loans, net of recoveries (1,981,988 ) (832,919 ) — — 170 2,368 — — Recovery (loss) due to impairment of financial investments 15 (732 ) (7,858 ) (26 ) 347 (11,981 ) — — Net gain of investment property — — 7,111 19,146 — — — — Fee income from financial services, net 813,279 797,711 (13,431 ) (7,160 ) 146,223 163,325 345,583 258,728 Result from insurance activities, before expenses — — (178,379 ) (252,854 ) — — — — Net profit (loss) for the year attributable to IFS’s shareholders 856,149 1,374,121 359,550 320,457 36,180 (141,395 ) 33,069 41,074 |
Significant accounting policies
Significant accounting policies | 12 Months Ended |
Dec. 31, 2023 | |
Text Block [Abstract] | |
Significant accounting policies | 3. Significant accounting policies 3.1 Basis of presentation - The consolidated financial statements have been prepared in accordance with the International Financial Reporting Standards (henceforth “IFRS”) as issued by International Accounting Standards Board (henceforth “IASB”) and are presented in Soles, which is the functional currency of the Group. All values are rounded to the nearest thousand (S/(000)), except when otherwise indicated. The preparation of the consolidated financial statements in conformity with the IFRS requires Management to make estimations and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, as well as the disclosure of significant events in the notes to the consolidated financial statements; see Note 3.6. 3.2 Adoption of new standards and disclosures - In these consolidated financial statements, the Group has adopted for the first time the International Financial Reporting Standard 17 “Insurance Contracts” (henceforth “IFRS 17”), effective for periods beginning on or after January 1, 2023. Other standards, interpretations or amendments are also adopted for the first time in 2023, but as of December 31, 2023, they did not have a significant impact on the Group’s consolidated financial statements. The Group has not early adopted any standard, interpretation or amendment that was issued but is not yet effective. • First-time adoption of IFRS 17 “Insurance Contracts” IFRS 17 replaces International Financial Reporting Standard 4 “Insurance Contracts” (henceforth “IFRS 4”) for annual periods beginning on or after January 1, 2023. As permitted by IFRS 17, the Group reformulated the comparative information of the period 2022 for insurance contracts within the scope of IFRS 17. However, the comparative information of the period 2021 is presented within the scope of IFRS 4 and is not comparable to the information presented in the period 2022. The differences arising due to the adoption of IFRS 17 have been recognized directly in retained earnings as of January 1, 2022, and are disclosed in Note 3.7. The nature of changes in the accounting policies is presented below: (a) Classification and measurement – The adoption of IFRS 17 has not changed the classification of the Group’s insurance contracts. However, it establishes specific principles for the recognition and measurement of insurance contracts held by the Group. The key principles of IFRS 17 consider that the Group: • Identifies insurance contracts as those under which the entity accepts significant insurance risk from another party (the policyholder) by agreeing to compensate the policyholder if a specified uncertain future event (the insured event) adversely affects the policyholder. • Recognizes and separates in insurance contracts investment components, embedded derivatives and goods or services components from insurance services in insurance contracts, recording them according to other standards. • Divides insurance contracts into groups for recognition and measurement: • At the risk-adjusted present value of the future cash flows (fulfillment cash flow, or “FCF”) that incorporates all available information on cash flows in a manner consistent with observable market information. Plus: • An amount representing the unearned profit in the group of contracts (the contractual service margin, or “CSM”). • Recognizes profit on a group of insurance contracts during each period in which the Group provides insurance contract services, as the Group is relieved of risk. If a group of contracts is expected to be onerous (i.e., generate losses) during the remaining coverage period, the Group recognizes the loss immediately. (b) Changes in disclosures – The differences between IFRS 17 and IFRS 4 are presented in Note 3.7, together with the transition disclosures. The detailed qualitative and quantitative information of the valuation of insurance contract groups, such as assumptions and inputs used, are presented in Notes 3.4(d.1) and 3.7. • Amendments to IAS 8 “Accounting policies, changes in estimates and errors”: Definition of Accounting Estimates The amendments to IAS 8 clarify the distinction between changes in accounting estimates, changes in accounting policies and the correction of errors. They also clarify how entities use measurement techniques and inputs to develop accounting estimates. These amendments had no impact on the Group’s consolidated financial statements. • Amendments to IAS 1 “Presentation of Financial Statements” and IFRS Practice Statement 2: Disclosure of Accounting Policies The amendments to IAS 1 and IFRS Practice Statement 2 “Making Materiality Judgements” provide guidance and examples to help entities apply materiality judgements to accounting policy disclosures. The amendments aim to help entities provide accounting policy disclosures that are more useful by replacing the requirement for entities to disclose their ‘significant’ accounting policies with a requirement to disclose their ‘material’ accounting policies and adding guidance on how entities apply the concept of materiality in making decisions about accounting policy disclosures. The amendments did not have a substantial impact on the Group’s disclosures of accounting policies, and did not have an impact on the measurement, recognition, or presentation of any items in the Group’s consolidated financial statements. • Amendments to IAS 12 “Income Taxes”: Deferred Tax related to assets and Liabilities arising from a single transaction The amendments to IAS 12 “Income Tax” narrow the scope of the initial recognition exception, so that it no longer applies to transactions that give rise to equal taxable and deductible temporary differences. The amendments had no impact on the Group’s consolidated financial statements. • Amendments to IAS 12 “Income Taxes”: International Tax Reform – Pillar Two Model Rules The amendments to IAS 12 “Income Taxes” have been introduced in response to the OECD’s Base erosion and profit shifting (BEPS) Pillar Two rules and include: • A mandatory temporary exception to the recognition and disclosure of deferred taxes arising from the jurisdictional implementation of the Pillar Two model rules; and • Disclosure requirements for affected entities to help users of the financial statements better understand an entity’s exposure to Pillar Two income taxes arising from that legislation, particularly before its effective date. The mandatory temporary exception – the use of which is required to be disclosed – applies immediately. The remaining disclosure requirements apply for annual reporting periods beginning on or after January 1, 2023, but not for any interim periods ending on or before December 31, 2023. In Group Management’s opinion, the amendments had no impact on the consolidated financial statements due to, as of December 31, 2023, and as of the date of this report, the standard has not been adopted in the jurisdictions in which the companies of the Group operate. The Group will monitor the adoption of said standard. 3.3 Basis of consolidation - The consolidated financial statements comprise the financial statement of IFS and its Subsidiaries (see Note 2). For consolidation accounting purposes, control is achieved when the Group is exposed, or has rights, to variable returns from its involvement with the investee and has the ability to affect those returns. Specifically, the Group controls an investee if and only if the Group has: • Power over the investee (i.e., existing rights that give it the current ability to direct the relevant activities of the investee); • Exposure, or rights, to variable returns from its involvement with the investee; and • The ability to use its power over the investee to affect its returns. Generally, it is presumed that a majority of voting rights entitles to control. To support this presumption and when the Group has less than the majority of votes or similar rights in the investee, the Group considers all relevant facts and circumstances in assessing whether it has power over an investee, including: • The contractual arrangement with the other vote holders of the investee; • Rights arising from other contractual arrangements; and • The Group’s voting rights and potential voting rights. The Group assesses whether or not it controls an investee if facts and circumstances indicate that there are changes to one or more of the three elements of control. Consolidation with a Subsidiary begins when the Group obtains control over the Subsidiary and ceases when the Group loses control of the Subsidiary. Assets, liabilities, income and expenses of a acquired or disposed subsidiary during the year are included in the consolidated financial statements from the date the Group acquired control until the date the Group ceases the control of the subsidiary. Profit and loss and each component of other comprehensive income (“OCI”) are attributed to the equity holders of the Group’s parent Company and to the non-controlling interests, even if this results in the non-controlling interests having a deficit balance. When necessary, adjustments are made to the financial statement of Subsidiaries to bring their accounting policies into line with the Group’s accounting policies. All intra-group assets and liabilities, equity, income, expenses and cash flows relating to transactions between members of the Group are totally eliminated on consolidation. If the Group loses control over a subsidiary, it derecognizes the related assets (including goodwill), liabilities, non-controlling interest and other components of equity, while any resultant gain or loss is recognized in profit or loss. Any investment retained is recognized at fair value. Assets in custody or managed by the Group, such as investment funds and others, are not part of the Group’s consolidated financial statements; see Note 3.4(ac). 3.4 Summary of material accounting policies - (a) Foreign currency translation - Functional and presentation currency: The Group has determined that its functional and presentation currency is the Sol, because it reflects the economic substance of the underlying events and circumstances relevant to most of the Group’s entities, insofar as its main operations and/or transactions, such as loans granted, financing obtained, sale of insurance premiums, interest and similar income, interest and similar expenses and an important percentage of purchases are established and settled in Soles; in addition, it corresponds to the functional currency to most of the Subsidiaries; except for Inteligo Bank, whose functional currency is the US Dollar. Because Inteligo Bank has a functional currency different from the Sol, its balances were translated for consolidation purposes using the methodology established by IAS 21 “The Effects of Changes in Foreign Exchange Rates”, as follows: • Assets and liabilities at the closing rate at the date of each consolidated statement of financial position. • Income and expenses, at the average exchange rate for each month. As a result of the translation, the Group has recorded the difference in the caption “Exchange differences on translation of foreign operations” in the consolidated statement of other comprehensive income. Foreign currency balances and transactions: Foreign currency transactions and balances are those performed in currencies different from the functional currency. Transactions in foreign currencies are initially recorded in the functional currency using the exchange rate at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated into the functional currency using the exchange rate in effect on the reporting date. The differences between the closing rate at the date of each consolidated statement of financial position presented and the exchange rate initially used to record the transactions in foreign currency are recognized in the consolidated statement of income in the period in which they arise, in the caption “Translation result”. Non-monetary assets and liabilities acquired in a foreign currency are recorded at the exchange rate at the date of the initial transaction. (b) Interest income - (b.1) Effective interest rate method - Under IFRS 9, interest income is recorded using the effective interest rate (“EIR”) method for all financial assets measured at amortized cost, interest rate derivatives for which hedge accounting is applied and the related amortization/recycling effect of hedge accounting. The interest income of financial assets that accrue interest measured at fair value through other comprehensive income according to IFRS 9 is also recorded using the EIR method. Interest expenses are also calculated using the EIR method for all financial liabilities held at amortized cost. EIR is the rate that exactly discounts estimated future cash flows through the expected life of the financial instrument or, when appropriate, a shorter period at the net carrying amount of the financial asset. The EIR (and therefore, the amortized cost of the financial asset) is calculated by taking into account transaction costs and any discount or premium on the acquisition of the financial asset, as well as fees and costs that are an integral part of the EIR. The Group recognizes interest income using the best estimate of a constant rate of return over the expected life of the financial asset. Therefore, the EIR calculation also considers the effect of potentially different interest rates that may be charged at various stages of the financial asset’s expected life, and other characteristics of the product’s life cycle (including prepayments, penalty interest and charges). If expectations of fixed rate financial assets’ or liabilities’ cash flows are revised for reasons other than credit risk, then changes to future contractual cash flows are discounted at the original EIR, and the adjustment is recorded as a positive or negative adjustment of the carrying amount of the financial asset in the consolidated statement of financial position with an increase or decrease in Interest revenue. For floating-rate financial instruments, periodic re-estimation of cash flows to reflect the movements in the market rates of interest also alters the effective interest rate, but when instruments were initially recognized at an amount equal to the principal, re-estimating the future interest payments does not significantly affect the carrying amount of the asset or the liability. (b.2) Interest income and similar - The Group calculates interest income by applying the EIR to the gross carrying amount of non-impaired financial assets. When a financial asset becomes impaired, and, therefore, it is classified as Stage 3 (as established in Note 3.4(h)), the Group calculates the interest income by applying the EIR at the amortized cost of the asset. If the financial asset “recovers”, as detailed in Note 29.1(d), and is no longer impaired, the Group recalculates the interest income on a gross basis. For purchased or originated credit-impaired (POCI) assets, as detailed in Note 29.1(d), the Group calculates the interest income by determining the credit-adjusted EIR at the amortized cost of the asset. The credit-adjusted EIR is the interest rate that, at initial recognition, discounts the estimated future cash flows (including credit losses) at the amortized cost of POCI assets. The interest income for all trading assets, that is, for those that are measured at fair value through profit or loss, are presented under the caption “Net gain of financial assets at fair value through profit or loss” of the consolidated statement of income. (c) Banking services commissions - The Group earns fee and commission income from a diverse range of financial services it provides to its customers. Fee and commission income are recognized at an amount that reflects the consideration to which the Group expects to be entitled in exchange for providing the services. The performance obligations, as well as the timing of their satisfaction, are identified and determined at the inception of the contract. The Group’s income from contracts do not typically include multiple performance obligations. When the Group provides a service to its clients, the consideration is invoiced and generally due immediately upon satisfaction of a service provided at a point in time or at the end of the contract period for a service provided over time. The Group has generally concluded that it is the principal in its revenue arrangements because it typically controls the services before transferring them to the customer. The fees included in the caption “Fees income from financial services, net” that make up part of the consolidated statement of income include fee income where performance obligations are satisfied at a specific time or over a period of time. Fee income where performance obligations are satisfied over a period of time include, among others, collection services, funds management, memberships, fees for contingent loans and credit card insurance. Likewise, fee income where performance obligations are satisfied at a specific time include, among others, banking service fees, brokerage and custody services, and credit card fees. Below is the main income from contracts with customers that are recognized in the consolidated statement of financial position: • Fees receivable for credit cards and certain fees receivable for letters of guarantee included in the caption “Other accounts receivable and other assets, net”, represent the Group’s right to an unconditional consideration (i.e., it only requires the passing of time for the consideration payment). This asset is measured at amortized cost and is subject to impairment specifications under IFRS 9. • Deferred income from commissions for letters of guarantee included in the caption “Other accounts payable, provisions and other liabilities”, represent the Group’s obligation to render services to a customer, from whom the Group has received a consideration (or a due amount). A liability for unearned fees and commissions is recognized when the payment is made or when the payment is due (whichever happens first). Unearned fees and commissions are recognized as income when the Group renders the service. (d) Insurance contracts – (d.1) Accounting policies for insurance activities (Policy applicable from January 1, 2023) (d.1.1) Insurance contracts - (d.1.1.1) Initial recognition - IFS recognizes, under IFRS 17, a group of insurance contracts when the first of the following events occurs: • The beginning of the coverage period of the group of contracts, • The date when the first payment from a policyholder in the group becomes due, and • For a group of onerous contracts, when the group becomes onerous. Measurement at initial recognition At initial recognition, the Group measures a group of insurance contracts by the total of: • The fulfillment cash flows, which comprise: • Estimates of future cash flows. • An adjustment to reflect the time value of money and the financial risks related to the future cash flows, to the extent that the financial risks are not included in the estimates of the future cash flows. and • A risk adjustment for non-financial risk. • The contractual service margin (“CSM”). Subsequent measurement The book value at the end of period of a group of insurance contracts is the sum of: • The liability for remaining coverage, which comprises: • The fulfillment of cash flows related to future services • The contractual service margin or CSM • The adjustment rate at market value • The claims incurred liability, which comprises the fulfillment cash flows related to future services. (d.1.1.2) Levels of aggregation - Insurance contract portfolios - The first level of aggregation for insurance contracts consists of determining the portfolio. An insurance portfolio is composed by a group of contracts subject to similar risks and managed together. The Group has deemed that the following factors are relevant when defining the insurance portfolios in effect: • Product lines and their differentiated management, separating the products by pensions, life, and general insurance, and below them, based on the specific covered risks: savings, risk, annuities, and accidents, among others. There are not separations of risks within the same contract because they are jointly managed. • Contract limits: differentiating in equal contracts or shorter than one year and longer than four years. • Individual or collective insurance policies. • Policy currency: differentiating between policies denominated in different currencies. Currently, the currencies considered are the Sol, the US Dollar, and Sol VAC. • Funeral expense cover (in currency VAC): a different portfolio is considered because it is understood that its risk management is different from the management of the main risk of the product Annuity (SPP and Private). This criterion is only applicable to funeral VAC of the pensions (SPP and Private). • The assessment based on the indicated attributes continues to be performed for the new products that may be designed and marketed in the future. Cohorts - The second level of aggregation is the cohort level, whereby the Group does not include in the same group contracts issued more than one year apart. Contracts issued between January 1 and December 31 of each year are included within each cohort for each portfolio. Grouping by onerosity - The last grouping level that the Group applies is in function of the expected profitability level or the onerosity at the moment of the contract issuance. Given that the standard requires at least three groups, the Group foresees that the products by level of profitability or onerosity will be grouped into two groups: • Groups of contracts that are onerous at initial recognition, if any. • Groups of non-onerous contracts: Include contracts that at initial recognition have no significant possibility of becoming onerous subsequently and the remaining non-onerous contracts at initial recognition. The Group has defined a ratio to differentiate these groups. In this sense, even though it is foreseen that there will be two groups by profitability level, the groups that will eventually be determined will depend on the compliance of the ratio on the predetermined threshold. (d.1.1.3) Valuation methods - The Group applies the following valuation methods in the measurement of insurance contracts: • Building Block Approach (“BBA”). This method will be applied by default to insurance contracts unless conditions exist to apply any of the other two methods. • Two BBA variants. The first one will be applied compulsorily if the conditions for it are met, and the second one will be applied optionally if conditions are met: • Variable Fee Approach (“VFA”) • Premium Allocation Approach (“PAA”) The application of one or the other method affects the measurement of the liability for remaining coverage (“LRC”) because the liability for incurred claims (“LIC”) refers to all cash flows allocated for the payment of claims and related expenses that, although incurred, have not yet been settled. This includes claims that have already occurred, but, for some reason have not been reported yet. Building Block Approach (BBA) - This method is applied to contracts with coverage periods longer than one year and whose liability flows do not depend on underlying elements. IFS measures a group of insurance contracts (unit of account) by the total of fulfillment cash flows and the CSM. The following are the elements details of this component group: • Fulfillment Cash Flows (“FCF”): the fulfillment cash flows are comprised of the following elements: • Estimation of future cash flows: Weighted estimation by the probability of future cash outflows occurrence minus the future cash inflows from the fulfillment of the contract. It is necessary to consider solely the cash flows that are within the limits of the insurance contract and the attributable acquisition expenses must be included. The Group revises the estimations performed in the preceding valuation period and updates them so that they reflect the conditions at the valuation date, and that the changes made to the estimation represent the modifications of the period’s conditions. Discount effect: IFRS 17 establishes that the fulfillment cash flows are adjusted to reflect the time value of money and the financial risks related to the future cash flows. The estimation of cash flows and the inclusion of the discount effect may result in the best estimate liability (“BEL”). In the discount rate estimation procedure, observable market values are used; for pensions contracts, the Matching Adjustment Discount Rate is mainly used and for individual life contracts, the Risk Free Rate – USA is mainly used. • Risk Adjustment (“RA”): Represents the compensation that an entity requires to bear the non-financial risk that arises from the uncertainty over the cash flows regarding their amount and the moment of payment of the future cash flows, and it is calculated in an explicit and separate manner from the cash flows. Likewise, the risk adjustment also reflects the risk aversion degree and the diversification degrees that the entity includes to determine the compensation to bear such non-financial risks. • CSM: Represents the expected profit from the insurance contracts, which is recognized in profit or loss as the service is rendered. The recognition of the CSM throughout the contract’s life is made in a systematic manner and consistently with the rendering of the service provided by the insurance contract in the future. Variable Fee Approach (VFA) – The VFA valuation method is intended for insurance contracts with a direct component participation of the insured (the valuation risk is that of the insured) whereby at initial recognition the following conditions are met: • The contractual terms specify that the policyholder takes part in a clearly identified set of underlying elements; • The entity expects to pay the policyholder an amount equal to a substantial part of the profitability at fair value (market value) of the underlying elements; and • The entity expects that a substantial part of any change in the amounts payable to the policyholder varies with the change in fair value of the underlying elements. The VFA method has the following characteristics: • In the CSM, market interest is credited. • In the CSM the difference in the value of the funds of the underlying asset’s funds is adjusted. • The other components remain the same as the BBA method. Premium Allocation Approach (PAA) - The PAA valuation method is a simplification of the general method and its application is optional. The entity only applies the simplified method to contracts if one of the following criteria is met: • For contracts longer than one year, the simplification results in a liability for remaining coverage that does not materially differ from that generated by the general model (BBA); or • The coverage period of the group of contracts is one year or shorter. The criterion that defines the one-year period must be determined according to the contract limits. To assign the appropriate valuation method to the insurance contracts issued, the Group has assessed the valuation requirements under each method, as well as the minimum criteria and possible approaches for the eligibility of the PAA method and the VFA method. The following are the valuation methods assigned to each product: • Life: BBA, PAA or VFA, depending on the characteristics and evaluation of the contract • Pensions: BBA • General insurance: BBA or PAA, depending on the characteristics and evaluation of the contract (d.1.2) Reinsurance - (d.1.2.1) Classification of reinsurance contracts - An insurance contract issued by one entity (the reinsurer) to compensate another entity for claims arising from one or more insurance contracts issued by that other entity (underlying contracts). (d.1.2.2) Levels of aggregation - Contracts portfolio - The first level that IFRS 17 establishes for the grouping of reinsurance contracts consists of the determination of portfolios. The Group will determine the insurance portfolios considering similar risks that are jointly managed. The Company has deemed that the following factors are relevant when defining the reinsurance portfolios in effect: • Product lines and their differentiated management, separating in all cases the proportional reinsurance contracts and the non- proportional reinsurance contracts, and below them, based on the specific covered risks: credit life, “Vida Ley”, accidents, Individual life, retirement, CAT. • Contract limits, separating in all cases the annual and multi-year reinsurance contracts. • Materiality criteria, i.e., when there are individual contracts that do not comply with the previously described conditions to be grouped, the Group will have the possibility of grouping them as long as they are run-off isolated contracts with little relevance to the Company. • The assessment based on the indicated attributes will continue to be performed for the new products that may be designed and marketed in the future. Cohorts - The second grouping level is the cohort level, whereby the Group does not include in the same group contracts issued more than one year apart. Cohorts are defined as being equal to the calendar year. i.e., each cohort includes contracts issued between January 1 and December 31 of each year. (d.1.2.3) Reinsurance fee - Fees from reinsurance contracts for ceded premiums are amortized in relation to the validity period of the related insurance contract. (d.1.3) Exchange difference in insurance contract liabilities - According to IAS 21, for the purpose of converting insurance contracts in foreign currency into the functional currency of the Company, they are treated as a monetary item. Exchange differences on remeasurement of the insurance contract liability are recognized in profit or loss, except for exchange differences related to the interest rate effect for contracts under BBA method, which are recognized in “Other comprehensive income” together with the annual movements of the interest rate effect. (d.1.4) Recognition of income and expenses - The Group recognizes income and expenses for the following changes in the book value of the liability for remaining coverage (LRC): • Income from ordinary insurance activities: for the decrease in the LRC due to the service rendered in the period. • Expenses of the insurance service: for losses in the groups of onerous contracts, and reversions of these losses. • Financial expenses and income for insurance activities: for the effect of the time value of money and the financial risk effect. The Group recognizes income and expenses for the following changes in the book value of the liability for incurred claims (LIC): • Expenses of the insurance service: for the increase in liability due to claims and expenses incurred in the period, excluding investment components. • Expenses of the insurance service: for the subsequent changes in the cash flows from the compliance related to claims and expenses incurred. • Financial expenses and financial income for insurance activities: for the effect of the time value of money and the financial risk effect. (d.1.5) Expenses attributable to the fulfillment of contracts - Attributable expenses are related to the fulfillment of contracts, directly or indirectly. Expenses directly and indirectly attributable - The Group classifies expenses directly attributable to those that can be attributable at portfolio level or individual contracts. Indirect expenses are deemed partially attributable if they are necessary for the fulfillment of the insurance contracts, even if they are not directly associated to a portfolio or individual contract. Expenses indirectly attributable must be allocated to groups of contracts by using a systematic and rational method that can be applied in a consistent manner to all expenses with similar characteristics. The expected attributable expenses (without considering the acquisition costs attributable) are included in the LRC, being released as income in the statement of income and decreasing the LRC when the service is rendered. At the same time, the expenses of the insurance service are recognized based on the actual expenses incurred. (d.1.6) Contractual Service Margin (CSM) - The CSM represents the expected profit from a group of insurance contracts for the services rendered during the coverage period. It is released in the statement of income for each period to reflect the services rendered to the group in that period. (d.1.6. |
Cash and due from banks and int
Cash and due from banks and inter-bank funds | 12 Months Ended |
Dec. 31, 2023 | |
Cash and cash equivalents [abstract] | |
Cash and due from banks and inter-bank funds | 4. Cash and due from banks and inter-bank funds (a) The detail of cash and due from banks is as follows: 2023 2022 S/(000) S/(000) Cash and clearing (b) 2,248,845 2,865,251 Deposits in the BCRP (b) 5,215,762 6,918,526 Deposits in banks (c) 1,609,604 2,923,999 Total cash and cash equivalent 9,074,211 12,707,776 Accrued interest 23,809 17,391 Restricted funds (d) 720,691 468,244 Total 9,818,711 13,193,411 (b) In accordance with rules in force, Interbank is required to maintain a legal reserve to honor its obligations with the public. This reserve is comprised of funds kept in Interbank and in the BCRP and is made up as follows: 2023 2022 S/(000) S/(000) Legal reserve (*) Deposits in the BCRP 4,593,592 6,055,726 Cash in vaults 2,005,760 2,719,277 Subtotal legal reserve 6,599,352 8,775,003 Non-mandatory reserve Overnight deposits in BCRP (**) 622,170 762,800 Cash and clearing 243,029 145,903 Term deposits in BCRP (***) — 100,000 Subtotal non-mandatory reserve 865,199 1,008,703 Cash balances not subject to legal reserve 56 71 Total 7,464,607 9,783,777 (*) The legal reserve funds maintained in the BCRP are non-interest bearing, except for the part that exceeds the minimum reserve required that accrued interest at a nominal annual rate, established by the BCRP. Starting in February 2022, the rate used is the Secured Overnight Financing Rate (“SOFR”). As of December 31, 2023 and 2022, the Group presented only excess in foreign currency that accrued interest in US Dollars at an annual average rate of 4.86 and 3.79 percent, respectively. During the years 2023, 2022 and 2021, the Group recognized income for interest related to the excess of the legal reserve, which amounted to S/194,446,000, S/61,302,000 and S/3,000, respectively, and were recorded in the item “Interest on due from banks and inter-bank funds” of the caption “Interest and similar income” of the consolidated statement of income, see Note 19. In Group Management’s opinion, Interbank has complied with the requirements established by the rules in force related to the computation of the legal reserve. (**) As of December 31, 2023, corresponds to an overnight deposit in foreign currency for US$130,000,000 (approximately equivalent to S/482,170,000) and an overnight deposit in local currency for S/140,000,000, with maturity in the first days of January 2024, which accrued interest at During the years 2023, 2022 and 2021, the Group recognized income for interest on overnight deposits, which amounted to S/68,850,000, S/35,874,000 and S/799,000, respectively, and were recorded in the item “Interest on due from banks and inter-bank funds” of the caption “Interest and similar income” of the consolidated statement of income, see Note 19. (***) As of December 31, 2022, corresponded to a term deposit in local currency, matured in the first days of 2023, and accrued interest at an annual interest rate of 7.50 percent. During the years 2023, 2022 and 2021, the Group recognized interest on time deposits, which amounted to S/36,960,000, S/48,331,000 and S/38,068,000, respectively, and were recorded in the item “Interest on due from banks and inter-bank funds” of the caption “Interest and similar income” of the consolidated statement of income, see Note 19. (c) Deposits in domestic banks and abroad are mainly in Soles and US Dollars, they are freely available and accrue interest at market rates. (d) The Group maintains restricted funds related to: 2023 2022 S/(000) S/(000) Inter-bank transfers (*) 694,118 431,052 Derivative financial instruments, Note 10(b)(i) and Note 29.1(g.2) 24,725 34,784 Others 1,848 2,408 Total 720,691 468,244 (*) Funds held at BCRP to guarantee transfers made through the Electronic Clearing House (“CCE”, by its Spanish acronym). (e) Inter-bank funds These are loans made between financial institutions with maturity, in general, minor than 30 days. As of December 31, 2023, Inter-bank funds assets and liabilities accrue interest at an annual rate of 6.75 percent in local currency and 5.5 in foreign currency (annual rate of 7.50 percent in local currency for Inter-bank funds assets and liabilities, as of December 31, 2022); and do not have specific guarantees. |
Financial investments
Financial investments | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of financial assets [abstract] | |
Financial investments | 5. Financial investments (a) This caption is made up as follows: 2023 2022 S/(000) S/(000) Debt instruments measured at fair value through other comprehensive income 20,912,184 16,716,517 Investments at amortized cost (d) 3,383,014 3,231,139 Investments at fair value through profit or loss (e) 1,556,540 1,932,993 Equity instruments measured at fair value through other comprehensive income (f) 444,878 512,884 Total financial investments 26,296,616 22,393,533 Accrued income Debt instruments measured at fair value through other comprehensive income (b) 334,385 322,425 Investments at amortized cost (d) 90,990 71,640 Total 26,721,991 22,787,598 In the determination of the expected loss for the financial investments’ portfolio, the Group has not needed to apply any subsequent adjustment to the model through the expert judgment, as it has been in the case of the loan portfolio, see Note 29.1, because the most significant investments held as of December 31, 2023 and 2022 are permanently evaluated by local and international credit-rating agencies, in an individual manner. Said agencies periodically modify the ratings of the issuers in accordance with the risk variation of each of the financial instrument, based on the particular situation of issuers. (b) Following is the detail of debt instruments measured at fair value through other comprehensive income: Unrealized gross amount Annual effective interest rates Amortized cost Gains Losses (c) Estimated fair value Maturity S/ US$ S/(000) S/(000) S/(000) S/(000) Min Max Min Max % % % % 2023 Corporate, leasing and subordinated bonds (*) 9,443,384 83,511 (865,654 ) 8,661,241 Jan-24 Feb-97 2.22 14.52 4.00 18.00 Sovereign Bonds of the Republic of Peru (**) 8,320,671 13,599 (558,282 ) 7,775,988 Aug-24 Feb-55 0.95 6.82 — — Negotiable Certificates of Deposit issued by the Central Reserve Bank of Peru (***) 3,445,361 3,638 (15 ) 3,448,984 Jan-24 Sep-2 5.60 6.66 — — Bonds guaranteed by the Peruvian Government 475,542 7,810 (9,722 ) 473,630 Oct-24 Oct-33 2.81 4.65 7.39 7.92 Global Bonds of the Republic of Peru 498,897 — (35,564 ) 463,333 Jul-25 Dec-32 — — 4.76 5.23 Treasury Bonds of the United States of America 76,556 26 (3,252 ) 73,330 Jan-24 Feb-32 — — 3.87 5.00 Global Bonds of the United States of Mexico 17,769 — (2,091 ) 15,678 Feb-34 — — 5.51 5.51 Total 22,278,180 108,584 (1,474,580 ) 20,912,184 Accrued interest 334,385 Total 21,246,569 Unrealized gross amount Annual effective interest rates Amortized Gains Losses (c) Estimated Maturity S/ US$ S/(000) S/(000) S/(000) S/(000) Min Max Min Max % % % % 2022 Corporate, leasing and subordinated bonds (*) 8,707,969 9,477 (1,143,244 ) 7,574,202 Jan-23 Feb-97 1.60 13.26 5.10 13.14 Sovereign Bonds of the Republic of Peru (**) 7,878,445 590 (1,270,254 ) 6,608,781 Sep-23 Feb-55 1.89 8.14 — — Variable interest Certificates of Deposit issued by the Central Reserve Bank of Peru 1,434,752 89 (5 ) 1,434,836 Jan-23 Mar-23 7.29 7.46 — — Bonds guaranteed by the Peruvian Government 512,316 1,698 (26,286 ) 487,728 Oct-24 Oct-33 3.48 6.01 6.86 8.25 Global Bonds of the Republic of Peru 508,813 — (55,527 ) 453,286 Jul-25 / Dec-32 — — 5.18 5.60 Global Bonds of the Republic of Colombia 82,836 — (2,026 ) 80,810 Mar-23 Feb-24 — — 6.07 6.23 Negotiable Certificates of Deposit issued by the Central Reserve Bank of Peru 44,234 — (366 ) 43,868 Mar-23 2.28 2.28 — — Treasury Bonds of the United States of America 21,387 — (3,661 ) 17,726 Nov-31 Feb-32 — — 3.85 3.85 Global Bonds of the United States of Mexico 18,240 — (2,960 ) 15,280 Feb-34 6.06 6.06 Total 19,208,992 11,854 (2,504,329 ) 16,716,517 Accrued interest 322,425 Total 17,038,942 (*) As of December 31, 2023 and 2022, Inteligo holds corporate bonds from several entities for approximately S/101,215,000 and S/116,603,000, respectively, which guarantee loans with Bank J. Safra Sarasin, see Note 12(d.12). (**) As of December 31, 2023 and 2022, Interbank holds Sovereign Bonds of the Republic of Peru for approximately S/887,454,000 and S/1,047,815,000, respectively, which guarantee loans with the BCRP, see Note 12(b). As of December 31, 2023, Interbank holds Sovereign Bonds of the Republic of Peru for approximately S/ 629,265 (***) As of December 31, 2023, Interbank maintains Negotiable Certificates of Deposits issued by the BCRP for approximately S/785,206,000, which guarantee loans with the BCRP, see Note 12(b). The following table shows the credit quality and maximum exposure to credit risk based on the Group’s internal credit rating of debt instruments measured at fair value through other comprehensive income as of December 31, 2023 and 2022. The amounts presented do not consider impairment. 2023 2022 Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Not impaired High grade 4,261,926 — — 4,261,926 2,271,038 — — 2,271,038 Standard grade 15,898,382 750,179 — 16,648,561 13,499,740 945,321 — 14,445,061 Sub-standard grade — — — — Impaired Individual — — 1,697 1,697 — — 418 418 Total 20,160,308 750,179 1,697 20,912,184 15,770,778 945,321 418 16,716,517 (c) The Group, according to the business model applied to these debt instruments, has the capacity to hold these investments for a sufficient period that allows the early recovery of the fair value, up to the maximum period for the early recovery or the due date. The following table shows the analysis of changes in fair value and the corresponding expected credit loss: 2023 Gross carrying amount of debt instruments measured at fair value through other Stage 1 Stage 2 Stage 3 Total S/(000) S/(000) S/(000) S/(000) Beginning of year balances 15,770,778 945,321 418 16,716,517 New originated or purchased assets 5,810,766 — — 5,810,766 Assets matured or derecognized (excluding write-offs) (2,175,611 ) (80,810 ) — (2,256,421 ) Change in fair value 783,826 (58,954 ) 1,289 726,161 Transfers to Stage 1 161,781 (161,781 ) — — Transfers to Stage 2 (109,392 ) 109,392 — — Transfers to Stage 3 — — — — Write-offs — — — — Foreign exchange effect (81,840 ) (2,989 ) (10 ) (84,839 ) End of year balances 20,160,308 750,179 1,697 20,912,184 2023 Movement of the allowance for expected credit losses for debt instruments Stage 1 Stage 2 Stage 3 Total S/(000) S/(000) S/(000) S/(000) Expected credit loss at the beginning of the period 10,822 29,600 13,552 53,974 New originated or purchased assets 1,689 — — 1,689 Assets matured or derecognized (excluding write-offs) (877 ) (116 ) — (993 ) Transfers to Stage 1 4,198 (4,198 ) — — Transfers to Stage 2 (183 ) 183 — — Transfers to Stage 3 — — — — Effect on the expected credit loss due to the change of the stage during the year (4,003 ) 3,414 — (589 ) Others (*) (1,739 ) 9,120 — 7,381 Write-offs — — — — Recoveries — — — — Foreign exchange effect (30 ) (16 ) (370 ) (416 ) Expected credit loss at the end of the period 9,877 37,987 13,182 61,046 (*) Corresponds mainly to the effects on the expected loss because of changes in investment ratings and that not necessarily have resulted in stage transfers during the year. 2022 Gross carrying amount of debt instruments measured at fair value through other Stage 1 Stage 2 Stage 3 Total S/(000) S/(000) S/(000) S/(000) Beginning of year balances 16,733,281 896,506 — 17,629,787 New originated or purchased assets 3,211,041 — — 3,211,041 Assets matured or derecognized (excluding write-offs) (1,939,686 ) (10,531 ) — (1,950,217 ) Change in fair value (1,906,272 ) (14,416 ) (9,210 ) (1,929,898 ) Transfers to Stage 1 — — — — Transfers to Stage 2 (88,095 ) 88,095 — — Transfers to Stage 3 (2,162 ) (7,805 ) 9,967 — Write-offs — — — — Foreign exchange effect (237,329 ) (6,528 ) (339 ) (244,196 ) End of year balances 15,770,778 945,321 418 16,716,517 2022 Movement of the allowance for expected credit losses for debt instruments Stage 1 Stage 2 Stage 3 Total S/(000) S/(000) S/(000) S/(000) Expected credit loss at the beginning of the period 9,456 31,652 — 41,108 New originated or purchased assets 3,132 — — 3,132 Assets matured or derecognized (excluding write-offs) (416 ) (46 ) — (462 ) Transfers to Stage 1 — — — — Transfers to Stage 2 (105 ) 105 — — Transfers to Stage 3 (305 ) (993 ) 1,298 — Effect on the expected credit loss due to the change of the stage during the year — 3,237 12,311 15,548 Others (*) (1,186 ) (4,282 ) — (5,468 ) Write-offs — — — — Recoveries — — — — Foreign exchange effect 246 (73 ) (57 ) 116 Expected credit loss at the end of the period 10,822 29,600 13,552 53,974 (*) Corresponds mainly to the effects on the expected loss because of changes in investment ratings and that not necessarily have resulted in stage transfers during the year. In the determination of the expected loss for the portfolio of financial investments, for the years 2023 and 2022; it has not been necessary to perform a subsequent adjustment to the model because it captures the expected loss in a satisfactory manner considering the Group portfolio investments. As a result of the assessment of the impairment of its debt instruments at fair value through other comprehensive income, the Group recorded a loss of S/7,500,000 and S/12,752,000 during the year 2023 and 2022, respectively and a reversal of impairment of S/30,898,000 during the year 2021, which are presented in the caption “(Loss) recovery to impairment of financial investments” in the consolidated statement of income. The movement of unrealized results of investments at fair value through other comprehensive income, net of Income Tax and non-controlling interest, is presented in Notes 16(d) and (e). (d) As of December 31, 2023, investments at amortized cost corresponds mainly to Sovereign Bonds of the Republic of Peru issued in Soles for an amount of S/3,393,962,000, including accrued interest for an amount of S/86,652,000 (as of December 31, 2022, corresponds to Sovereign Bonds of the Republic of Peru issued in Soles for an amount of S/3,304,779,000, including accrued interest for an amount of S/71,640,000). Said investments present low credit risk and the impairment loss is not significant. As of December 31, 2023, these investments have maturity dates that range from August 2024 to August 2037, have accrued interest at effective annual rates between 4.36 percent and 7.50 percent, and estimated fair value amounting to approximately S/3,277,672,000 (as of December 31, 2022, their maturity dates ranged from September 2023 to August 2037, accrued interest at effective annual rates between 4.29 percent and 6.64 percent, and its estimated fair value amounted to approximately S/2,949,507,000). Additionally, as of December 31, 2023, term deposits mainly issued in Soles are held, for an amount of S/80,042,000, included accrued interest amounting to S/4,338,000. Said investments present low credit risk and the impairment loss is not material. As of December 31, 2023, the maturity of these investments fluctuates between April 2024 and February 2029, have accrued interest at an annual effective rate between 3.10 percent and 8.80 percent, and their estimated fair value amounts to approximately S/80,042,000. During 2023, the Government of the Republic of Peru performed public offerings to repurchase certain sovereign bonds, with the purpose of renewing its debt and funding the fiscal deficit. Considering the purpose of this offering, subsequently to it, there should not be existing remaining sovereign bonds of the repurchased issuances or, in case of existing, they would become illiquid on the market. In that sense, Interbank took part of these public offering and sold to the Government of the Republic of Peru sovereign bonds classified as investments at amortized cost for approximately S/482,632,000, generating a loss amounting to S/490,000, which was recorded in the caption “Net gain on sale of financial investments” of the consolidated statement of income. Additionally, with the purpose of maintaining its asset management strategy, Interbank purchased simultaneously other sovereign bonds of the Republic of Peru for approximately S/488,127,000, and classified them as investments at amortized cost. In Management’s opinion and pursuant to IFRS 9, said transaction is congruent with the Group’s business model because although said sales were significant, they were infrequent and were performed with the sole purpose of facilitating the renewal and the funding of the fiscal deficit of the Republic of Peru, and thus the business model regarding these assets has always been to collection of the contractual cash flows. As of December 31, 2023 and 2022, Interbank holds loans with the BCRP that are guaranteed with these sovereign bonds, classified as restricted, for approximately S/2,058,931,000 and S/2,310,536,000, respectively; see Note 12(b). As of December 31, 2023, Interbank holds loans with foreign banks that are guaranteed with these sovereign bonds, classified as restricted, for approximately S/445,909,000; see Note 12(d.1) and (d.3). (e) The composition of financial instruments at fair value through profit or loss is as follows: 2023 2022 S/(000) S/(000) Equity instruments Local and foreign mutual funds and investment funds participations 1,169,491 1,517,075 Listed shares 253,203 315,820 Non-listed shares 122,482 74,430 Debt instruments Negotiable Certificates of Deposits 6,075 — Corporate, leasing and subordinated bonds 5,289 25,668 Total 1,556,540 1,932,993 As of December 31, 2023 and 2022, investments at fair value through profit or loss include investments held for trading for approximately S/194,033,000 and S/209,549,000, respectively; and those assets that are necessarily measured at fair value through profit or loss for approximately S/1,362,507,000 and S/1,723,444,000, respectively. During the year 2023, the Group recognized losses from valuation of instruments at fair value through profit or loss for approximately S/53,134,000 (during the year 2022 recognized loss for S/303,733,000 and during the year 2021, recognized gains for S/123,372,000), which are part of caption “Net (loss) gain from financial assets at fair value through profit or loss” of the consolidated statement of income. During the years 2023, 2022 and 2021, the Group has received dividends from these investments for approximately S/8,838,000, S/33,897,000 and S/2,536,000, respectively, which are presented in the caption “Interest and similar income” of the consolidated statement of income. (f) The composition of equity instruments measured at fair value through other comprehensive income is as follow: 2023 2022 S/(000) S/(000) Listed shares (g) 407,636 474,588 Non-listed shares 37,242 38,296 Total 444,878 512,884 As of December 31, 2023 and 2022, it corresponds to investments in shares in the biological sciences, distribution of machinery, energy, telecommunications, financial and general insurance consumption sectors that are listed on the domestic and foreign markets. During the years 2023, 2022 and 2021, the Group received dividends from these investments for approximately S/33,941,000, S/45,031,000 and S/99,200,000, respectively, which are included in the caption “Interest and similar income” in the consolidated statement of income. (g) During the year 2023, the Group sold shares of several entities, which were irrevocably designated at fair value through other comprehensive income. The total amount of the sales amounted to S/80,372,000 generating total gains for approximately S/33,433,000 (in 2022, the sales amounted to S/345,791,000, generating total gain for approximately S/16,313,000; in 2021, the sales amounted to S/1,240,052,000, generating total losses for approximately S/180,905,000). In accordance with IFRS 9 and considering the classification of this investment said gains were reclassified to caption “Retained Earnings” of the consolidated statement of changes in equity. In October 2021, the Group sold the 2,396,920 shares it held in InRetail Peru Corp. (a related entity), that represented 2.33 percent of its capital stock, which were irrevocably designated at fair value through other comprehensive income. The sale was trade through Lima Stock Exchange, at market value for a total amount of US$84,108,000, equivalent to S/341,646,000. Since the acquisition date, the Group had recorded a cumulative gain on valuation for approximately S/270,993,000. In accordance with the provisions of IFRS 9 and considering the classification of this investment; said gain was recorded as a decrease in the caption “Unrealized results, net” and an increase in the caption “Retained earnings” of the consolidated statements of changes in equity. (h) The following is the balance of investments at fair value through other comprehensive income (debt and equity instruments) and investments at amortized cost as of December 31, 2023 and 2022 classified by contractual maturity (without including accrued interest): 2023 2022 Investments at fair Investments at Investments at fair Investments at S/(000) S/(000) S/(000) S/(000) Up to 3 months 1,933,761 — 1,610,691 — From 3 months to 1 year 2,279,986 634,133 152,533 494,872 From 1 to 3 years 2,347,378 485,590 1,160,014 640,314 From 3 to 5 years 1,660,263 146,633 2,329,056 443,799 From 5 years onwards 12,690,796 2,116,658 11,464,223 1,652,154 Equity instruments (without maturity) 444,878 — 512,884 — Total 21,357,062 3,383,014 17,229,401 3,231,139 (i) Below are the debt instruments measured at fair value through other comprehensive income and at amortized cost according to the stages indicated by IFRS 9. As of December 31, 2023 and 2022: 2023 Debt instruments measured at fair value through other comprehensive income and at amortized cost Stage 1 Stage 2 Stage 3 Total S/(000) S/(000) S/(000) S/(000) Sovereign Bonds of the Republic of Peru 11,083,297 — — 11,083,297 Corporate, leasing and subordinated bonds 7,909,365 750,179 1,697 8,661,241 Negotiable Certificates of Deposit issued by the BCRP 3,448,984 — — 3,448,984 Bonds guaranteed by the Peruvian government 473,630 — — 473,630 Global Bonds of the Republic of Peru 463,333 — — 463,333 Treasury Bonds of the United States of America 73,330 — — 73,330 Global Bonds of the United States of Mexico 15,678 — — 15,678 Others 75,705 — — 75,705 Total 23,543,322 750,179 1,697 24,295,198 2022 Debt instruments measured at fair value through other comprehensive income and at amortized cost Stage 1 Stage 2 Stage 3 Total S/(000) S/(000) S/(000) S/(000) Sovereign Bonds of the Republic of Peru 9,839,920 — — 9,839,920 Corporate, leasing and subordinated bonds 6,709,273 864,511 418 7,574,202 Variable interest Certificates of Deposit issued by the BCRP 1,434,836 — — 1,434,836 Bonds guaranteed by the Peruvian government 487,728 — — 487,728 Global Bonds of the Republic of Peru 453,286 — — 453,286 Global Bonds of the Republic of Colombia — 80,810 — 80,810 Negotiable Certificates of Deposit issued by the BCRP 43,868 — — 43,868 Treasury Bonds of the United States of America 17,726 17,726 Global Bonds of the United States of Mexico 15,280 — — 15,280 Total 19,001,917 945,321 418 19,947,656 |
Loans, net
Loans, net | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of financial assets [abstract] | |
Loans, net | 6. Loan, net (a) This caption is made up as follows: 2023 2022 S/(000) S/(000) Direct loans Loans (*) 35,789,130 35,977,734 Credit cards and other loans (**) 6,023,769 6,239,314 Discounted notes 1,567,411 894,588 Leasing 1,495,290 1,174,542 Factoring 1,244,795 1,011,496 Advances and overdrafts 14,617 38,763 Refinanced loans 461,995 322,941 Past due and under legal collection loans 1,652,151 1,365,972 48,249,158 47,025,350 Plus (minus) Accrued interest from performing loans (f) 657,355 527,615 Unearned interest and interest collected in advance (36,706 ) (22,112 ) Impairment allowance for loans (d) (2,349,425 ) (2,027,855 ) Total direct loans, net 46,520,382 45,502,998 Indirect loans, Note 18(a) 4,743,480 4,487,347 (*) As of December 31, 2023 and 2022, Interbank maintains repo operations of loans represented in securities according to the BCRP’s definition. In consequence, loans provided as guarantee amounts to S/504,158,000 and S/1,909,375,000, respectively, and is presented in the caption “Loan, net”, and the related liability is presented in the caption “Due to banks and correspondents” of the consolidated statement of financial position; see Note 12(b). (**) As of December 31, 2023 and 2022, it includes non-revolving consumer loans related to credit card lines for approximately S/3,149,149,000 and S/3,225,874,000, respectively. (b) The classification of the direct loan portfolio is as follows: 2023 2022 S/(000) S/(000) Commercial loans (c.1) 21,155,476 21,412,126 Consumer loans (c.1) 16,325,460 14,967,799 Mortgage loans (c.1) 9,834,398 9,286,944 Small and micro-business loans (c.1) 933,824 1,358,481 Total 48,249,158 47,025,350 For purposes of estimating the impairment loss in accordance with IFRS 9, the Group’s loans are segmented into homogeneous groups that share similar risk characteristic. In this sense, the Group has determined three types of loan portfolios: Retail Banking (consumer and mortgage loans), Commercial Banking (commercial loans) and Small Business Banking (loans to small and micro-business). (c) The following table shows the credit quality and maximum exposure to credit risk based on the Group’s internal credit rating as of December 31, 2023 and 2022. The amounts presented do not consider impairment. 2023 2022 Direct loans, (c.1) Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Not impaired High grade 35,098,364 1,068,674 — 36,167,038 35,613,991 1,111,421 — 36,725,412 Standard grade 2,832,251 1,510,897 — 4,343,148 4,282,904 835,217 — 5,118,121 Sub-standard grade 1,367,503 1,450,751 — 2,818,254 776,603 940,391 — 1,716,994 Past due but not impaired 1,949,892 1,460,138 — 3,410,030 1,124,557 1,150,139 — 2,274,696 Impaired Individually — — 36,257 36,257 — — 45,907 45,907 Collectively — — 1,474,431 1,474,431 — — 1,144,220 1,144,220 Total direct loans 41,248,010 5,490,460 1,510,688 48,249,158 41,798,055 4,037,168 1,190,127 47,025,350 2023 2022 Contingent Credits: Guarantees and stand-by letters, import and export letters of credit (substantially, all indirect loans correspond to commercial loans) Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Not impaired High grade 3,988,999 457,518 — 4,446,517 3,945,307 402,336 — 4,347,643 Standard grade 32,433 214,806 — 247,239 12,083 39,541 — 51,624 Sub-standard grade 2,823 31,101 — 33,924 2,051 59,953 — 62,004 Past due but not impaired — — — — — — — — Impaired Individually — — 6,181 6,181 — — 9,330 9,330 Collectively — — 9,619 9,619 — — 16,746 16,746 Total indirect loans 4,024,255 703,425 15,800 4,743,480 3,959,441 501,830 26,076 4,487,347 (c.1) The following tables show the credit quality and maximum exposure to credit risk for each classification of the direct loans: 2023 2022 Commercial loans Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Not impaired High grade 14,979,356 855,890 — 15,835,246 16,213,146 914,480 — 17,127,626 Standard grade 1,347,961 1,013,803 — 2,361,764 1,991,637 230,180 — 2,221,817 Sub-standard grade 450,577 314,063 — 764,640 380,679 171,648 — 552,327 Past due but not impaired 1,431,064 364,603 — 1,795,667 704,067 398,185 — 1,102,252 Impaired Individually — — 36,257 36,257 — — 45,907 45,907 Collectively — — 361,902 361,902 — — 362,197 362,197 Total direct loans 18,208,958 2,548,359 398,159 21,155,476 19,289,529 1,714,493 408,104 21,412,126 2023 2022 Consumer loans Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Not impaired High grade 11,475,514 199,501 — 11,675,015 11,331,807 181,066 — 11,512,873 Standard grade 945,060 452,811 — 1,397,871 1,139,837 579,625 — 1,719,462 Sub-standard grade 717,526 755,121 — 1,472,647 60,415 542,841 — 603,256 Past due but not impaired 217,712 829,119 — 1,046,831 153,865 526,042 — 679,907 Impaired Individually — — — — — — — — Collectively — — 733,096 733,096 — — 452,301 452,301 Total direct loans 13,355,812 2,236,552 733,096 16,325,460 12,685,924 1,829,574 452,301 14,967,799 2023 2022 Mortgage loans Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Not impaired High grade 8,093,031 13,283 — 8,106,314 7,490,495 1,033 — 7,491,528 Standard grade 433,968 17,124 — 451,092 667,599 15,411 — 683,010 Sub-standard grade 193,340 348,274 — 541,614 334,967 200,226 — 535,193 Past due but not impaired 261,100 200,873 — 461,973 205,728 132,958 — 338,686 Impaired Individually — — — — — — — — Collectively — — 273,405 273,405 — — 238,527 238,527 Total direct loans 8,981,439 579,554 273,405 9,834,398 8,698,789 349,628 238,527 9,286,944 2023 2022 Small and micro-business loans Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Not impaired High grade 550,463 — — 550,463 578,543 14,842 — 593,385 Standard grade 105,262 27,159 — 132,421 483,831 10,001 — 493,832 Sub-standard grade 6,060 33,293 — 39,353 542 25,676 — 26,218 Past due but not impaired 40,016 65,543 — 105,559 60,897 92,954 — 153,851 Impaired Individually — — — — — — — — Collectively — — 106,028 106,028 — — 91,195 91,195 Total direct loans 701,801 125,995 106,028 933,824 1,123,813 143,473 91,195 1,358,481 (d) The balances of the direct and indirect loan portfolio and the movement of the respective allowance for expected credit loss, calculated according to IFRS 9, is as follows: (d.1) Direct loans 2023 2022 Gross carrying amount of Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Beginning of year balances 41,798,055 4,037,168 1,190,127 47,025,350 40,522,481 2,853,565 1,312,176 44,688,222 New originated or purchased assets 22,372,321 — — 22,372,321 22,393,323 — — 22,393,323 Assets matured or derecognized (excluding write-offs) (14,406,950 ) (977,654 ) (72,977 ) (15,457,581 ) (14,636,477 ) (1,194,405 ) (429,348 ) (16,260,230 ) Transfers to Stage 1 762,554 (760,269 ) (2,285 ) — 1,019,478 (1,014,657 ) (4,821 ) — Transfers to Stage 2 (4,664,954 ) 4,706,631 (41,677 ) — (3,131,710 ) 3,161,335 (29,625 ) — Transfers to Stage 3 (1,235,354 ) (1,054,563 ) 2,289,917 — (401,017 ) (317,282 ) 718,299 — Write-offs — — (1,714,968 ) (1,714,968 ) — — (960,918 ) (960,918 ) Others (*) (3,217,003 ) (449,390 ) (131,273 ) (3,797,666 ) (3,383,889 ) 575,338 590,017 (2,218,534 ) Foreign exchange effect (160,659 ) (11,463 ) (6,176 ) (178,298 ) (584,134 ) (26,726 ) (5,653 ) (616,513 ) End of year balances 41,248,010 5,490,460 1,510,688 48,249,158 41,798,055 4,037,168 1,190,127 47,025,350 2023 2022 Changes in the allowance for expected Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Expected credit loss at the beginning of year balances 608,558 737,286 682,011 2,027,855 956,456 404,881 703,580 2,064,917 Impact of the expected credit loss in the consolidated statement of income - New originated or purchased assets 624,484 — — 624,484 503,454 — — 503,454 Assets matured or derecognized (excluding write-offs) (147,086 ) (66,329 ) (25,445 ) (238,860 ) (173,872 ) (237,110 ) (302,861 ) (713,843 ) Transfers to Stage 1 106,745 (104,939 ) (1,806 ) — 166,755 (163,090 ) (3,665 ) — Transfers to Stage 2 (327,728 ) 339,051 (11,323 ) — (259,226 ) 268,700 (9,474 ) — Transfers to Stage 3 (163,156 ) (269,881 ) 433,037 — (74,178 ) (88,551 ) 162,729 — Impact on the expected credit loss for credits that change stage in the year (***) (90,594 ) 259,309 1,407,191 1,575,906 (129,388 ) 176,416 340,244 387,272 Others (**) (65,775 ) (60,358 ) 163,834 37,701 (382,355 ) 375,448 666,581 659,674 Total (63,110 ) 96,853 1,965,488 1,999,231 (348,810 ) 331,813 853,554 836,557 Write-offs — — (1,813,670 ) (1,813,670 ) — — (1,021,539 ) (1,021,539 ) Recovery of written–off loans — — 138,886 138,886 — — 155,070 155,070 Foreign exchange effect (206 ) (227 ) (2,444 ) (2,877 ) 912 592 (8,654 ) (7,150 ) Expected credit loss at the end of year balances 545,242 833,912 970,271 2,349,425 608,558 737,286 682,011 2,027,855 (*) Corresponds mainly to: (i) the variation between the amortized cost of the loan at the beginning of the year and its amortized cost at the end of the year (partial amortizations that did not represent a reduction or derecognized of the loan), and (ii) the execution of contingent loans (conversion of indirect debt into direct debt). (**) Corresponds mainly to: (i) the variation between the amortized cost of the loan at the beginning of the year and its amortized cost at the end of the year (variation in the provision recorded for partial amortizations that did not represent a reduction or derecognized of the loan), (ii) variations in credit risk that did not generate transfers to other stages; and (iii) the execution of contingent loans (conversion of indirect debt into direct debt). (***) The Group applied its expert judgement with the purpose of reflecting the effects of the possible impact of the El Niño event during 2023, and the political and economic uncertainty during 2022, that were not considered in the forward-looking model, that led to incur in a higher provision for expected loss, see Note 29.1(d.7). (d.1.1) The following tables show the movement of the allowance for expected credit losses for each classification of the direct loan portfolio: 2023 2022 Commercial loans Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Expected credit loss at beginning of year 45,474 47,311 154,299 247,084 100,874 60,100 182,467 343,441 Impact of the expected credit loss in the consolidated statement of income - New originated or purchased assets 47,129 — — 47,129 33,506 — — 33,506 Assets derecognized or matured (excluding write-offs) (26,668 ) (10,113 ) (2,924 ) (39,705 ) (18,984 ) (37,865 ) (92,529 ) (149,378 ) Transfers to Stage 1 2,920 (2,687 ) (233 ) — 41,140 (40,152 ) (988 ) — Transfers to Stage 2 (27,598 ) 30,826 (3,228 ) — (15,952 ) 16,311 (359 ) — Transfers to Stage 3 (10,620 ) (16,046 ) 26,666 — (6,603 ) (48,516 ) 55,119 — Impact on the expected credit loss for credits that change stage in the year (**) (1,988 ) 7,333 40,748 46,093 (31,403 ) 4,752 16,864 (9,787 ) Others (*) 23,154 8,006 6,579 37,739 (57,822 ) 91,880 63,218 97,276 Total 6,329 17,319 67,608 91,256 (56,118 ) (13,590 ) 41,325 (28,383 ) Write-offs — — (62,960 ) (62,960 ) — — (68,362 ) (68,362 ) Recovery of written–off loans — — 5,189 5,189 — — 5,942 5,942 Foreign exchange effect (192 ) (160 ) (1,751 ) (2,103 ) 718 801 (7,073 ) (5,554 ) Expected credit loss at end of year 51,611 64,470 162,385 278,466 45,474 47,311 154,299 247,084 2023 2022 Consumer loans Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Expected credit loss at beginning of year 534,005 657,474 430,902 1,622,381 802,421 263,219 336,041 1,401,681 Impact of the expected credit loss in the consolidated statement of income - New originated or purchased assets 552,847 — — 552,847 438,109 — — 438,109 Assets derecognized or matured (excluding write-offs) (98,984 ) (54,036 ) (10,863 ) (163,883 ) (141,201 ) (144,553 ) (100,740 ) (386,494 ) Transfers to Stage 1 95,173 (93,918 ) (1,255 ) — 44,453 (43,487 ) (966 ) — Transfers to Stage 2 (282,373 ) 287,164 (4,791 ) — (229,316 ) 234,062 (4,746 ) — Transfers to Stage 3 (135,476 ) (231,432 ) 366,908 — (59,129 ) (13,433 ) 72,562 — Impact on the expected credit loss for credits that change stage in the year (**) (81,051 ) 221,421 1,263,515 1,403,885 (35,112 ) 163,681 293,678 422,247 Others (*) (117,534 ) (73,259 ) 162,060 (28,733 ) (286,212 ) 198,393 580,849 493,030 Total (67,398 ) 55,940 1,775,574 1,764,116 (268,408 ) 394,663 840,637 966,892 Write-offs — — (1,647,576 ) (1,647,576 ) — — (886,200 ) (886,200 ) Recovery of written–off loans — — 123,679 123,679 — — 140,438 140,438 Foreign exchange effect (1 ) (53 ) (162 ) (216 ) (8 ) (408 ) (14 ) (430 ) Expected credit loss at end of year 466,606 713,361 682,417 1,862,384 534,005 657,474 430,902 1,622,381 (*) Corresponds mainly to: (i) the variation between the amortized cost of the loan at the beginning of the year and its amortized cost at the end of the year (variation in the provision recorded for partial amortizations that did not represent a reduction or derecognized of the loan), (ii) variations in credit risk that did not generate transfers to other stages; and (iii) the execution of contingent loans (conversion of indirect debt into direct debt). (**) The Group applied its expert judgement with the purpose of reflecting the effects of the possible impact of the El Niño event during 2023, and the political and economic uncertainty during 2022, that were not considered in the forward-looking model, that led to incur in a higher provision for expected loss, see Note 29.1(d.7). 2023 2022 Mortgage loans Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Expected credit loss at beginning of year 4,236 12,285 45,101 61,622 12,669 42,681 99,850 155,200 Impact of the expected credit loss in the consolidated statement of income - New originated or purchased assets 3,949 — — 3,949 1,473 — — 1,473 Assets derecognized or matured (excluding write-offs) (181 ) (833 ) (10,625 ) (11,639 ) (435 ) (763 ) (10,957 ) (12,155 ) Transfers to Stage 1 6,414 (6,414 ) — — 6,103 (6,103 ) — — Transfers to Stage 2 (2,052 ) 5,115 (3,063 ) — (778 ) 4,871 (4,093 ) — Transfers to Stage 3 (1,915 ) (2,423 ) 4,338 — (467 ) (1,254 ) 1,721 — Impact on the expected credit loss for credits that change stage in the year (**) (5,956 ) 15,996 20,982 31,022 (5,871 ) 4,342 11,518 9,989 Others (*) 2,312 2,040 2,018 6,370 (8,663 ) (31,688 ) (49,097 ) (89,448 ) Total 2,571 13,481 13,650 29,702 (8,638 ) (30,595 ) (50,908 ) (90,141 ) Write-offs — — (3,580 ) (3,580 ) — — (2,267 ) (2,267 ) Recovery of written–off loans — — — — — — — — Foreign exchange effect (13 ) (13 ) (520 ) (546 ) 205 199 (1,574 ) (1,170 ) Expected credit loss at end of year 6,794 25,753 54,651 87,198 4,236 12,285 45,101 61,622 2023 2022 Small and micro-business loans Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Expected credit loss at beginning of year 24,843 20,216 51,709 96,768 40,492 38,881 85,222 164,595 Impact of the expected credit loss in the consolidated statement of income - New originated or purchased assets 20,559 — — 20,559 30,366 — — 30,366 Assets derecognized or matured (excluding write-offs) (21,253 ) (1,347 ) (1,033 ) (23,633 ) (13,252 ) (53,929 ) (98,635 ) (165,816 ) Transfers to Stage 1 2,238 (1,920 ) (318 ) — 75,059 (73,348 ) (1,711 ) — Transfers to Stage 2 (15,705 ) 15,946 (241 ) — (13,180 ) 13,456 (276 ) — Transfers to Stage 3 (15,145 ) (19,980 ) 35,125 — (7,979 ) (25,348 ) 33,327 — Impact on the expected credit loss for credits that change stage in the year (**) (1,599 ) 14,559 81,946 94,906 (57,002 ) 3,641 18,184 (35,177 ) Others (*) 26,293 2,855 (6,823 ) 22,325 (29,658 ) 116,863 71,611 158,816 Total (4,612 ) 10,113 108,656 114,157 (15,646 ) (18,665 ) 22,500 (11,811 ) Write-offs — — (99,554 ) (99,554 ) — — (64,710 ) (64,710 ) Recovery of written–off loans — — 10,018 10,018 — — 8,690 8,690 Foreign exchange effect — (1 ) (11 ) (12 ) (3 ) — 7 4 Expected credit loss at end of year 20,231 30,328 70,818 121,377 24,843 20,216 51,709 96,768 (*) Corresponds mainly to: (i) the variation between the amortized cost of the loan at the beginning of the year and its amortized cost at the end of the year (variation in the provision recorded for partial amortizations that did not represent a reduction or derecognized of the loan), (ii) variations in credit risk that did not generate transfers to other stages; and (iii) the execution of contingent loans (conversion of indirect debt into direct debt). (**) The Group applied its expert judgement with the purpose of reflecting the effects of the possible impact of the El Niño event during 2023, and the political and economic uncertainty during 2022, that were not considered in the forward-looking model, that led to incur in a higher provision for expected loss, see Note 29.1(d.7). (d.2) Indirect loans (substantially, all indirect loans correspond to commercial loans) 2023 2022 Gross carrying amount of contingent credits, guarantees and stand-by Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Beginning of year balances 3,959,441 501,830 26,076 4,487,347 3,984,362 431,039 25,057 4,440,458 New originated or purchased assets 2,122,067 — — 2,122,067 1,829,985 — — 1,829,985 Assets derecognized or matured (1,606,539 ) (135,042 ) (1,784 ) (1,743,365 ) (1,470,891 ) (168,603 ) (9,627 ) (1,649,121 ) Transfers to Stage 1 30,259 (30,259 ) — — 25,315 (25,315 ) — — Transfers to Stage 2 (392,176 ) 407,454 (15,278 ) — (258,992 ) 258,992 — — Transfers to Stage 3 (12 ) (6,687 ) 6,699 — (633 ) (10,035 ) 10,668 — Others (*) (54,162 ) (26,950 ) 92 (81,020 ) (58,323 ) 25,454 (22 ) (32,891 ) Foreign exchange effect (34,623 ) (6,921 ) (5 ) (41,549 ) (91,382 ) (9,702 ) — (101,084 ) End of year balances 4,024,255 703,425 15,800 4,743,480 3,959,441 501,830 26,076 4,487,347 2023 2022 Changes in the allowance for expected credit losses for contingent credits, guarantees and stand-by letters, import and export letters of credit Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Expected credit loss at beginning of year balances 8,354 18,205 8,936 35,495 8,594 18,492 13,243 40,329 Impact of the expected credit loss in the consolidated statement of income - New originated or purchased assets 4,770 — — 4,770 5,615 — — 5,615 Assets derecognized or matured (1,988 ) (4,205 ) (631 ) (6,824 ) (4,838 ) (2,016 ) (6,241 ) (13,095 ) Transfers to Stage 1 180 (180 ) — — 109 (109 ) — — Transfers to Stage 2 (1,986 ) 3,626 (1,640 ) — (854 ) 854 — — Transfers to Stage 3 (1 ) (50 ) 51 — (57 ) (171 ) 228 — Impact on the expected credit loss for credits that change stage in the year (57 ) (837 ) 684 (210 ) (47 ) 585 623 1,161 Others (**) (2,521 ) (12,600 ) (28 ) (15,149 ) (274 ) (467 ) 1,054 313 Total (1,603 ) (14,246 ) (1,564 ) (17,413 ) (346 ) (1,324 ) (4,336 ) (6,006 ) Foreign exchange effect (127 ) (20 ) (3 ) (150 ) 106 1,037 29 1,172 Expected credit loss at the end of year balances, Note 10(a) 6,624 3,939 7,369 17,932 8,354 18,205 8,936 35,495 (*) Corresponds mainly to: (i) the variation between the amortized cost of the loan at the beginning of the year and its amortized cost at the end of the year (partial amortizations that did not represent a reduction or derecognized of the loan), and (ii) the execution of contingent loans (conversion of indirect debt into direct debt). (**) Corresponds mainly to: (i) the variation between the amortized cost of the loan at the beginning of the year and its amortized cost at the end of the year (variation in the provision recorded for partial amortizations that did not represent a reduction or derecognized of the loan), (ii) variations in credit risk that did not generate transfers to other stages; and (iii) the execution of contingent loans (conversion of indirect debt into direct debt). (e) In Group Management’s opinion, the allowance for loan losses recorded as of December 31, 2023 and 2022, has been established in accordance with IFRS 9; and it is sufficient to cover incurred losses on the loan portfolio. (f) During 2023 and 2022, the interest that the loan portfolio generates is freely agreed considering the interest rates prevailing on the market. Notwithstanding the above, Act No. 31143, “Act Protecting Consumers of Financial Services from Usury” established that the BCRP is the entity that determined maximum and minimum interest rates for consumer, small and micro-business loans in financial institutions. As of December 31, 2023, the maximum interest rate for the period November 2023 - April 2024 is 101.86 percent in national currency and 82.94 percent in foreign currency (the maximum interest rate for the period November 2022 - April 2023 was 87.91 percent in national currency and 68.27 percent in foreign currency, as of December 31, 2022). (g) Interest income from loans classified in Stage 3 is calculated through the effective interest rate adjusted for credit quality at amortized cost. (h) The refinanced loans during the 2023 period amounted to approximately S/132,172,000 (S/192,045,000, during the year 2022) which had no significant impact on the consolidated statement of income. During 2023, the Group has carried out rescheduling of credits related to social conflicts, natural disasters and other resolutions that amounted to S/1,979,342,000. Said loans are not considered as refinanced loans. See further detail in Note 29.1 (d.6.3). During 2023, 2022 and 2021, the Group modified the contractual conditions of a determined number of loans that were granted under the “Reactiva Peru” program, for a total amount of approximately S/25,928,000, S/133,046,000 and S/2,012,855,000, respectively. Said loans were not deemed as refinanced loans. As of December 31, 2023 and 2022, the balance of rescheduled loans amounts of approximately S/730,508,000 and S/1,473,770,000, respectively; see further detail in Note 29.1 (d.6.2). Additionally, during 2020, the Group modified the contractual conditions of a determined number of loans as relief for its clients’ liquidity as consequence of the Covid-19 pandemic, for a total of approximately S/12,663,960,000. Said loans are not considered as refinanced loans. As of December 31, 2023 and 2022, the balances of the rescheduled loans amount to approximately S/3,513,905,000 and S/5,048,978,000, respectively; see further detail in Note 29.1 (d.6.1). (i) The table below presents the maturity of the direct loan portfolio without including accrued interest, interest to be accrued and interest collected in advance as of December 31, 2023 and 2022: 2023 2022 S/(000) S/(000) Outstanding Up to 1 month 4,461,634 4,945,881 From 1 to 3 months 5,781,509 5,708,262 From 3 months to 1 year 10,831,137 10,220,204 From 1 to 5 years 19,500,481 18,916,603 Over 5 years 6,022,246 5,868,428 46,597,007 45,659,378 2023 2022 S/(000) S/(000) Past due and under legal collection loans, see (i.1) Up to 4 months 484,808 423,906 Over 4 months 697,246 401,508 Under legal collection 470,097 540,558 48,249,158 47,025,350 (i.1) The tables below present past due and under legal collection loans for each classification of the direct loan portfolio: 2023 2022 S/(000) S/(000) Commercial loans Up to 4 months 98,263 150,607 Over 4 months 143,170 106,081 Under legal collection 228,809 245,786 470,242 502,474 Consumer loans Up to 4 months 284,954 143,867 Over 4 months 401,164 220,226 Under legal collection 78,290 108,162 764,408 472,255 Mortgage loans Up to 4 months 35,934 30,484 Over 4 months 94,568 48,316 Under legal collection 140,018 155,587 270,520 234,387 Small and micro-business loans Up to 4 months 65,657 98,948 Over 4 months 58,344 26,885 Under legal collection 22,980 31,023 146,981 156,856 See credit risk analysis in Note 29.1 (j) Part of the loan portfolio is collateralized with guarantees received from clients, which mainly consist of mortgages, trust assignments, financial instruments as well as industrial commercial pledges. (k) The following tables present the maturities of direct and indirect loans of Stages 2 and 3 as of December 31, 2023 and 2022, as follows: • Stage 2: Loans with maturity longer or shorter than 30 days, regardless of the criteria that caused their classification into Stage 2. • Stage 3: Loans with maturity longer or shorter than 90 days, regardless of the criteria that caused their classification into Stage 3. 2023 2022 Stage 2 Stage 3 Total Stage 2 Stage 3 Total Gross amount Expected loss Gross amount Expected loss Gross amount Expected loss Gross amount Expected loss Gross amount Expected loss Gross amount Expected loss S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Maturity shorter than: 30 days 5,400,087 609,406 — — 5,400,087 609,406 3,934,328 595,372 — — 3,934,328 595,372 90 days — — 16,219 14,888 16,219 14,888 — — 1,816 1,583 1,816 1,583 Maturity longer than: 30 days 793,798 228,445 — — 793,798 228,445 604,670 160,119 — — 604,670 160,119 90 days — — 1,510,269 962,752 1,510,269 962,752 — — 1,214,387 689,364 1,214,387 689,364 Total 6,193,885 837,851 1,526,488 977,640 7,720,373 1,815,491 4,538,998 755,491 1,216,203 690,947 5,755,201 1,446,438 (k.1) The following tables present the maturities of direct and indirect loans of Stages 2 and 3 as of December 31, 2023 and 2022, for each classification: 2023 2022 Stage 2 Stage 3 Total Stage 2 Stage 3 Total Commercial loans Gross amount Expected loss Gross amount Expected loss Gross amount Expected loss Gross amount Expected loss Gross amount Expected loss Gross amount Expected loss S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Maturity shorter than: 30 days 3,155,267 60,877 — — 3,155,267 60,877 2,089,059 60,403 — — 2,089,059 60,403 90 days — — 2,686 2,259 2,686 2,259 — — 250 214 250 214 Maturity longer than: 30 days 96,517 7,532 — — 96,517 7,532 127,264 5,113 — — 127,264 5,113 90 days — — 411,273 167,495 411,273 167,495 — — 433,930 163,021 433,930 163,021 Total 3,251,784 68,409 413,959 169,754 3,665,743 238,163 2,216,323 65,516 434,180 163,235 2,650,503 228,751 2023 2022 Stage 2 Stage 3 Total Stage 2 Stage 3 Total Consumer loans Gross amount Expected loss Gross amount Expected loss Gross amount Expected loss Gross amount Expected loss Gross amount Expected loss Gross amount Expected loss S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Maturity shorter than: 30 days 1,700,558 508,045 — — 1,700,558 508,045 1,500,325 511,105 — — 1,500,325 511,105 90 days — — 10,295 9,883 10,295 9,883 — — 1,356 1,194 1,356 1,194 Maturity longer than: 30 days 535,994 205,316 — — 535,994 205,316 329,249 146,369 — — 329,249 146,369 90 days — — 722,801 672,534 722,801 672,534 — — 450,945 429,708 450,945 429,708 Total 2,236,552 713,361 733,096 682,417 2,969,648 1,395,778 1,829,574 657,474 452,301 430,902 2,281,875 1,088,376 2023 2022 Stage 2 Stage 3 Total Stage 2 Stage 3 Total Mortgage loans Gross amount Expected loss Gross amount Expected loss Gross amount Expected loss Gross amount Expected loss Gross amount Expected loss Gross amount Expected loss S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Maturity shorter than: 30 days 463,168 20,311 — — 463,168 20,311 271,622 9,266 — — 271,622 9,266 90 days — — 546 109 546 109 — — — — — — Maturity longer than: 30 days 116,386 5,442 — — 116,386 5,442 78,006 3,019 — — 78,006 3,019 90 days — — 272,859 54,542 272,859 54,542 — — 238,527 45,101 238,527 45,101 Total 579,554 25,753 273,405 54,651 852,959 80,404 349,628 12,285 238,527 45,101 588,155 57,386 2023 2022 Stage 2 Stage 3 Total Stage 2 Stage 3 Total Small and micro-business loans Gross amount Expected loss Gross amount Expected loss Gross amount Expected loss Gross amount Expected loss Gross amount Expected loss Gross amount Expected loss S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Maturity shorter than: 30 days 81,094 20,173 — — 81,094 20,173 73,322 14,598 — — 73,322 14,598 90 days — — 2,692 2,637 2,692 2,637 — — 210 175 210 175 Maturity longer than: 30 days 44,901 10,155 — — 44,901 10,155 70,151 5,618 — — 70,151 5,618 90 days — — 103,336 68,181 103,336 68,181 — — 90,985 51,534 90,985 51,534 Total 125,995 30,328 106,028 70,818 232,023 101,146 143,473 20,216 91,195 51,709 234,668 71,925 (l) The following tables present the exposure and the expected credit losses by the economic sector for direct loans as of December 31, 2023 and 2022: 2023 Carrying amount Expected credit loss Percentage expected credit loss Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Direct loans Consumer loans 13,355,812 2,236,552 733,096 16,325,460 466,606 713,361 682,417 1,862,384 3.5 % 31.9 % 93.1 % 11.4 % Mortgage loans 8,981,439 579,554 273,405 9,834,398 6,794 25,753 54,651 87,198 0.1 % 4.4 % 20.0 % 0.9 % Commerce 3,220,741 390,704 176,989 3,788,434 24,033 38,186 87,557 149,776 0.7 % 9.8 % 49.5 % 4.0 % Manufacturing 4,357,971 427,950 58,967 4,844,888 11,196 14,568 24,366 50,130 0.3 % 3.4 % 41.3 % 1.0 % Professional, scientific and technical activities 3,727,813 555,988 75,172 4,358,973 15,792 18,725 36,580 71,097 0.4 % 3.4 % 48.7 % 1.6 % Communications, storage and transportation 998,739 167,002 75,474 1,241,215 6,843 7,976 25,450 40,269 0.7 % 4.8 % 33.7 % 3.2 % Agriculture 1,708,377 173,386 12,667 1,894,430 3,209 1,854 1,632 6,695 0.2 % 1.1 % 12.9 % 0.4 % Electricity, gas, water and oil 746,792 188,577 1,466 936,835 784 1,767 346 2,897 0.1 % 0.9 % 23.6 % 0.3 % Leaseholds and real estate activities 457,473 86,954 46,074 590,501 2,628 2,216 20,693 25,537 0.6 % 2.5 % 44.9 % 4.3 % Construction and infrastructure 404,840 113,431 40,799 559,070 1,499 1,163 27,405 30,067 0.4 % 1.0 % 67.2 % 5.4 % Others 3,288,013 570,362 16,579 3,874,954 5,858 8,343 9,174 23,375 0.2 % 1.5 % 55.3 % 0.6 % Total direct loans 41,248,010 5,490,460 1,510,688 48,249,158 545,242 833,912 970,271 2,349,425 1.3 % 15.2 % 64.2 % 4.9 % 2022 Carrying amount Expected credit loss Percentage expected credit loss Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Direct loans Consumer loans 12,685,924 1,829,574 452,301 14,967,799 534,005 657,474 430,902 1,622,381 4.2 % 35.9 % 95.3 % 10.8 % Mortgage loans 8,698,789 349,628 238,527 9,286,944 4,236 12,285 45,101 61,622 0.0 % 3.5 % 18.9 % 0.7 % Commerce 3,837,304 402,454 173,236 4,412,994 31,844 29,009 78,028 138,881 0.8 % 7.2 % 45.0 % 3.1 % Manufacturing 4,346,251 451,393 63,397 4,861,041 8,403 12,389 21,611 42,403 0.2 % 2.7 % 34.1 % 0.9 % Professional, scientific and technical activities 3,529,961 298,534 64,078 3,892,573 12,056 10,186 26,497 48,739 0.3 % 3.4 % 41.4 % 1.3 % Communications, storage and transportation 1,102,988 194,840 75,427 1,373,255 7,047 7,035 23,645 37,727 0.6 % 3.6 % 31.3 % 2.7 % Agriculture 1,747,159 134,545 10,863 1,892,567 1,391 967 1,381 3,739 0.1 % 0.7 % 12.7 % 0.2 % Electricity, gas, water and oil 867,431 55,187 1,652 924,270 886 462 220 1,568 0.1 % 0.8 % 13.3 % 0.2 % Leaseholds and real estate activities 499,385 84,056 23,441 606,882 1,595 1,825 14,518 17,938 0.3 % 2.2 % 61.9 % 3.0 % Construction and infrastructure 415,827 91,910 49,736 557,473 1,667 1,654 32,569 35,890 0.4 % 1.8 % 65.5 % 6.4 % Others 4,067,036 145,047 37,469 4,249,552 5,428 4,000 7,539 16,967 0.1 % 2.8 % 20.1 % 0.4 % Total direct loans 41,798,055 4,037,168 1,190,127 47,025,350 608,558 737,286 682,011 2,027,855 1.5 % 18.3 % 57.3 % 4.3 % (m) The following tables present the exposure and the |
Investment property
Investment property | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of detailed information about investment property [abstract] | |
Investment property | 7. Investment property (a) This caption is made up as follows: 2023 2022 Acquisition or Valuation methodology (e) S/(000) S/(000) Land (i) San Isidro – Lima 269,194 264,868 2009 Appraisal San Martín de Porres – Lima 77,970 88,182 2015 Appraisal Nuevo Chimbote 34,724 33,747 2021 Appraisal Santa Clara – Lima 27,229 26,352 2017 Appraisal Sullana 23,751 22,689 2012 Appraisal Others 8,987 8,716 — Appraisal / Cost 441,855 444,554 Completed investment property - “Real Plaza” shopping malls (i) Talara 28,991 43,728 2015 DCF 28,991 43,728 Buildings (i) Ate Vitarte – Lima 160,208 149,720 2006 DCF/Appraisal Piura 131,144 123,508 2008/2020 DCF/Appraisal Orquídeas - San Isidro - Lima, (d), Note 3.4(o) 128,593 138,643 2017 DCF Chorrillos – Lima (d) 94,184 81,516 2017 DCF Paseo del Bosque (d) 87,168 96,194 2021 DCF Chimbote 47,054 45,069 2015 DCF Maestro – Huancayo 34,978 32,342 2017 DCF Cuzco 28,167 27,513 2017 DCF Panorama – Lima 22,136 20,669 2016 DCF Trujillo 16,225 15,815 2016 DCF Cercado de Lima – Lima 15,908 14,543 2017 DCF Pardo y Aliaga – Lima 14,790 16,755 2008 DCF Pardo (Vivanda) (d) 12,903 4,004 2021 DCF Others 34,588 33,144 — DCF 828,046 799,435 Total 1,298,892 1,287,717 DCF: Discounted cash flow (i) Financial assets classified by the Group as Level 3. During 2023 and 2022, there were no transfers between levels of hierarchy, see Note 3.4(z) (ii) As of December 31, 2023 and 2022, there are no liens on investment property. (b) The net gain on investment properties as of December 31, 2023, 2022 and 2021, consists of the following: 2023 2022 2021 S/(000) S/(000) S/(000) Income from rental of investment property 65,961 65,485 57,430 Gain on valuation of investment property 7,111 19,146 21,969 Total 73,072 84,631 79,399 (c) The movement of investment property for the years ended December 31, 2023, 2022 and 2021, is as follows: 2023 2022 2021 S/(000) S/(000) S/(000) Beginning of year balances 1,287,717 1,224,454 1,043,978 Additions 16,903 34,760 156,892 Valuation gain 7,111 19,146 21,969 Net transfers, Note 3.4(o) (12,839 ) 9,357 1,615 End of year balances 1,298,892 1,287,717 1,224,454 (d) During 2023, the main additions correspond to the purchase of the “Pardo (Vivanda)” building, which was purchased from a related party, in cash; and disbursements related to the construction of the building “Orquídeas (San Isidro)”, located in Lima. During 2022, the main additions correspond to contributions in the participation of a property called “Rex” and disbursements related to the expansion of the educational center called “Chorrillos”. During 2021, it mainly corresponds to the purchase of the “Paseo del Bosque” building, which was purchased from a third party. (e) Fair value measurement – Investment property and investment property under construction Valuation techniques - The discounted cash flow (“DCF”) method is used for completed shopping malls, buildings and investment property built on land leases and owned lands. This method involves the projection of a series of periodic cash flows at present value through a discount rate. The periodic calculation of the cash flows is normally determined as rental income net of operating expenses. The series of periodic net operating income, together with an estimation of the terminal value (which uses the traditional valuation method) at the end of the projection period, is discounted at present value. The sum of the net current values is equal to the investment property’s fair value. The fair value of land is determined based on the value assigned by an external appraiser. The external appraiser uses the market comparable method. Under this method a property’s fair value is estimated based on comparable transactions. The unit of comparison applied by the Group is the price per square meter. Following are the minimum ranges, maximum ranges and the average price for the land, before any adjustment: Minimum range Maximum range Average US$ per m2 US$ per m2 US$ per m2 San Isidro – Lima 5,400 8,487 7,062 San Martin de Porres – Lima 1,081 1,425 1,254 Piura 650 850 743 Ate Vitarte - Lima 1,268 1,458 1,394 Other minors 156 383 232 Main assumptions Below is a brief description of the assumptions considered in the determination of cash flows as of December 31, 2023 and 2022: • ERV (Estimated Rental Value) - Corresponds to the Estimated Rental Value, that is, the rent amount under which the space could be rented considering the prevailing market conditions at the valuation date. • Long-term inflation - It is the increase in the general level of prices expected in Peru for the long term. • Long-term occupancy rate - It is the expected occupancy level of lessees in the leased properties. • Average growth rate of rental income - It is the rate that expresses the rental income growth and includes growth factors of the industry, inflation rates, stable exchange rate, per capita income and increasing expenses. • Average Net Operating Income (NOI) margin - It is projected from the rental income from leasable areas, by property and marketing income, minus costs related to administration fees, other administrative expenses, insurance, taxes and other expenses. • Discount rate - It reflects the current market risk and the uncertainty associated with obtaining cash flows. The main assumptions used in the valuation and estimation of the market value of investment property are detailed below: US$ / Percentage 2023 2022 Average ERV US$ 129.3 US$ 125.9 Long-term inflation 2.9 % 3.1 % Long-term occupancy rate 97.1 % 97.1 % Average growth rate of rental income 3.1 % 2.9 % Average NOI margin 93.0 % 93.7 % Discount rate 9.6 % 10.3 % Sensitivity analysis - The sensitivity analysis on the valuation of investment property, against changes in factors deemed relevant by Management, is presented below: 2023 2022 S/(000) S/(000) Average growth rate of rental income (basis) - Increase +0.25 % 20,853 10,474 Decrease -0.25 % (16,791 ) (10,107 ) Long-term inflation (basis) - Increase +0.25 % 17,833 16,133 Decrease -0.25 % (13,824 ) (15,017 ) Discount rate (basis) - Increase +0.5 % (50,337 ) (47,957 ) Decrease -0.5 % 62,076 55,135 Likewise, a significant increase (decrease) in the price per square meter of the land lots could result in a significantly higher (lower) fair value measurement. (f) Below are the nominal amounts of the future minimum fixed rental income of the Group’s investment property (operating leases): Year 2023 2022 S/(000) S/(000) Within 1 year 69,078 61,557 After 1 year but not more than 5 years 255,898 241,546 Over 5 years 855,949 865,407 Total 1,180,925 1,168,510 The minimum rental income is computed considering a period between 20 and 27 years as of December 31, 2023 (between 20 and 28 years as of December 31, 2022). |
Property, furniture and equipme
Property, furniture and equipment, net | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of detailed information about property, plant and equipment [abstract] | |
Property, furniture and equipment, net | 8. Property, furniture and equipment, net (a) The movement of property, furniture and equipment and depreciation for the years ended December 31, 2023, 2022 and 2021, is as follows: Right-of-use assets Description Land Buildings, Furniture Vehicles Assets and work-in-progress Buildings Furniture Total Total Total S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Cost Balance as of January 1 141,206 600,168 806,066 1,233 34,014 279,998 2,292 1,864,977 1,826,051 1,781,765 Acquisition of Izipay, Note 1(d) — — — — — — — — 90,079 — Additions — 3,684 108,077 — 35,884 35,901 — 183,546 168,214 118,974 Transfers — 6,974 4,171 — (26,494 ) — 15,349 — — — Transfer (to) from investment property, Note 3.4(o) (1,231 ) 13,426 (2 ) — — — — 12,193 (10,643 ) (2,029 ) Disposals, write-offs and others (d) (14,153 ) (11,434 ) (27,515 ) (17 ) (198 ) (14,973 ) — (68,290 ) (208,724 ) (72,659 ) Balance as of December 31 125,822 612,818 890,797 1,216 43,206 300,926 17,641 1,992,426 1,864,977 1,826,051 Depreciation Balance as of January 1 — (312,150 ) (582,287 ) (951 ) — (175,961 ) (2,196 ) (1,073,545 ) (1,010,933 ) (937,338 ) Depreciation of the year — (20,599 ) (71,113 ) (119 ) — (49,209 ) (14,983 ) (156,023 ) (133,825 ) (121,932 ) Transfer to (from) investment property, Note 3.4(o) — — — — — — — — 1,286 1,038 Disposals, write-offs and others (d) — 7,282 24,642 12 — 10,038 — 41,974 69,927 47,299 Balance as of December 31 — (325,467 ) (628,758 ) (1,058 ) — (215,132 ) (17,179 ) (1,187,594 ) (1,073,545 ) (1,010,933 ) Net book value 125,822 287,351 262,039 158 43,206 85,794 462 804,832 791,432 815,118 (b) Financial entities in Peru are prohibited from pledging their fixed assets. (c) Management periodically reviews the residual values, useful life and the depreciation method to ensure they are consistent with the economic benefits and life expectation of property, furniture and equipment. In Management’s opinion, there is no evidence of impairment in property, furniture and equipment as of December 31, 2023, 2022 and 2021. (d) During 2023, transactions includes the sale of a property, performed by Interbank to a third party, for US$ During 2022, transactions includes the sale of a land lot, performed by Interbank to a related entity, for US$ ing presented as “Gain on sale of Property, furniture and equipment” in the caption “Other income and (expenses)” in the consolidated statement of income; see Note 21. (e) The following table shows the book values of lease liabilities (included in the caption “Other accounts payable, provisions and other liabilities”); see Note 10(a) and the movement of the year: 2023 2022 S/(000) S/(000) As of January 1 112,581 234,946 Additions 35,900 40,610 Interest expenses, Note 19(a) 5,562 9,283 Disposals (*) (5,433 ) (106,990 ) Exchange differences (279 ) (2,948 ) Payments (57,818 ) (62,320 ) As of December 31 90,513 112,581 (*) As of December 31, 2022, these withdrawals are mainly related to the sale of land carried out by Interseguro, see (d) above. As of December 31, 2023 and 2022, the amortization schedule of these obligations is as follows: 2023 2022 S/(000) S/(000) 2023 - 38,095 2024 2,709 27,497 2025 31,956 18,571 2026 20,801 15,698 2027 onwards 35,047 12,720 Total 90,513 112,581 The following table shows the amounts recognized in the consolidated statement of income: 2023 2022 2021 S/(000) S/(000) S/(000) Depreciation expenses of right-of-use assets 49,305 53,134 58,698 Interest expenses of lease liabilities, Note 19(a) 5,562 9,283 14,004 Expenses related to short-term and low-value assets leases (included in administrative expenses, see Note 24(c)) 9,643 10,958 11,841 Total amount recognized in the consolidated statement of income 64,510 73,375 84,543 During year 2023, the Group paid leases for approximately S/89,334,000 (S/146,982,000 during year 2022). |
Intangible and goodwill, net
Intangible and goodwill, net | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of reconciliation of changes in intangible assets and goodwill [abstract] | |
Intangible and goodwill, net | 9. Intangible and goodwill, net (a) Intangible assets The movement of intangible assets and amortization for the years ended December 31, 2023, 2022 and 2021, is as follows: 2023 2022 2021 Description Software Software Relationship with clients Brand Database Other intangible Goodwill Total Total Total S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Cost Balance as of January 1 1,305,807 206,420 110,042 82,546 97,016 227,580 669,075 2,698,486 1,908,144 1,748,222 Acquisition of Izipay, Note 1(d) — — — — — — — — 569,850 — Additions 189,444 85,575 — — — 5,369 — 280,388 227,270 170,528 Transfers 105,019 (104,979 ) — — — (40 ) — — — — Disposals and write-offs, Note 21(a) — — — — — (3,842 ) — (3,842 ) (6,778 ) (10,606 ) Balance as of December 31 1,600,270 187,016 110,042 82,546 97,016 229,067 669,075 2,975,032 2,698,486 1,908,144 Amortization Balance as of January 1 (942,142 ) — (8,253 ) — (7,276 ) (107,613 ) — (1,065,284 ) (863,395 ) (705,637 ) Amortization of the year (183,981 ) — (11,004 ) — (9,702 ) (18,328 ) — (223,015 ) (202,401 ) (157,758 ) Disposals and write-offs — — — — — 387 — 387 512 — Balance as of December 31 (1,126,123 ) — (19,257 ) — (16,978 ) (125,554 ) — (1,287,912 ) (1,065,284 ) (863,395 ) Net book value 474,147 187,016 90,785 82,546 80,038 103,513 669,075 1,687,120 1,633,202 1,044,749 Management assesses periodically the amortization method used with the purpose of ensuring that it is consistent with the economic benefit of the intangible assets. In Management’s opinion, there is no evidence of impairment in the Group’s intangible assets as of December 31, 2023, 2022 and 2021. (b) Goodwill of Seguros Sura: In 2017, IFS acquired 99.39 percent of Seguros Sura’s capital stock and 99.42 percent of Hipotecaria Sura’s capital stock. In March 2018, Interseguro merged with Seguro Sura, using the method of absorption, originating the transfer of all the assets and liabilities of Seguros Sura to the absorbing company and extinguishing without having to liquidate. The goodwill resulting from the purchase of Seguros Sura and Hipotecaria Sura equivalent to S/430,646,000 represents the future synergies that are expected to arise from the combination of operations, distribution channels, workforce and other efficiencies not included in the intangible assets of the present value of acquired in-force business. The goodwill recorded by the Group has been allocated to the CGU (cash generated unit) comprised of the merged entity. The recoverable amount for the CGU was determined based on the income approach, specifically the dividend discount model. As of December 31, 2023 and 2022, the key assumptions used for the calculation of fair value are: • Perpetuity growth rate: 6.3% (2023) and 4.5% (2022) • Discount rate: 14.3% (2023) and 12.5% (2022) 10-year cash flows plus an estimation of the value at perpetuity were included in the dividend discount model. The estimated growth rates are based on the historical performance and the expectations of Management over the development of the market. Long-term perpetuity growth rate was determined based on reports from the sector. The discount rate represents the assessment of the CGU specific risks. The discount rate was established considering the Company’s capital structure, the cost of capital coming from the benefits that the Group’s investors expect to obtain, from the specific risk incorporated by applying comparable individual beta factors adapted to the CGU’s debt structure and from the country and market specific risk premiums for the CGU. Beta factors are assessed on an annual basis using available market information. The key assumptions described above can change if the market conditions and the economy change. As of December 31, 2023 and 2022, the Group estimates that the reasonableness of possible changes in these assumptions would not make the recoverable amount of the CGU decrease to an amount lower than its book value. (c) Goodwill and indefinite-lived intangible of Izipay: In April 2022, IFS acquired 50 percent of Izipay, through the method of step acquisitions, adjusting at fair value the previous participation held by IFS in Izipay through its Subsidiary Interbank (50 percent). The goodwill resulting from the acquisition of Izipay, equivalent to S/ 238,429,000, represents the future synergies that are expected to arise from the combination of operations and other efficiencies not included in the intangibles of the current value of the ongoing business. The value of the brand resulting from the acquisition of Izipay was equivalent to S/82,546,000. The goodwill and the indefinite-lived brand recorded by the Group has been assigned to the CGU (cash-generating unit) consisting of the acquired entities, Izipay. The recoverable amount for the CGU has been determined based on the method of discounted cash flows. As of December 31, 2023, the key assumptions used for the calculation of the fair value are the following: • Perpetual growth rate: 3.0% (2023 and 2022) • Discount rate: 13.95% (2023) and 13.65% (2022) 5-year cash flows plus an estimation of the value at perpetuity were included in the model of discounted cash flows. The estimated growth rates are based on the historical performance and the expectations of Management over the market development. The long-term perpetual growth rate has been determined considering the upper target range of inflation established by the BCRP. The discount rate represents the assessment of the CGU’s specific risks. The discount rate was originated considering the data obtained from market information sources. The key assumptions described before can change if market conditions and the economy change. As of December 31, 2023 and 2022, the Group estimates that the reasonableness of these possible changes in these assumptions would not originate that the recoverable amount of the CGU decreases below its book value. |
Other accounts receivable and o
Other accounts receivable and other assets, net, and other accounts payable, provisions and other liabilities | 12 Months Ended |
Dec. 31, 2023 | |
Subclassifications of assets, liabilities and equities [abstract] | |
Other accounts receivable and other assets, net, and other accounts payable, provisions and other liabilities | 10. Other accounts receivable and other assets, net, and other accounts payable, provisions and other liabilities (a) These captions are comprised of the following: 2023 2022 S/(000) S/(000) Other accounts receivable and other assets Financial instruments Other accounts receivable, net 663,090 622,690 POS commission receivable 420,644 122,142 Accounts receivable related to derivative financial instruments (b) 158,101 515,800 Operations in process (d) 83,640 112,195 Accounts receivable from sale of investments (c) 63,466 37,987 Others 15,640 24,753 1,404,581 1,435,567 Non-financial instruments Tax paid to recover 422,248 26,759 Deferred charges 101,551 92,865 Deferred cost of POS affiliation and registration 92,511 95,265 Tax credit for General Sales Tax – IGV 32,482 17,623 Realizable assets, received as payment and seized through legal actions 28,933 27,266 Investments in associates 22,548 22,728 POS equipment supplies (*) 14,854 18,698 Others 5,440 7,192 720,567 308,396 Total 2,125,148 1,743,963 (*) Comprises the Points of Sale (“POS”) required for the rendering of the service. Their supplies are recorded at cost, which is determined by applying the weighted average method. 2023 2022 S/(000) S/(000) Other accounts payable, provisions and other liabilities Financial instruments Contract liability with investment component, Note 3.4(d) 883,268 873,500 Other accounts payable 855,067 726,983 Third party compensation (**) 763,039 386,136 Operations in process (d) 226,428 184,584 Accounts payable related to derivative financial instruments (b) 145,395 297,038 Accounts payable for acquisitions of investments (c) 106,955 53,905 Workers’ profit sharing and salaries payable 105,734 154,460 Lease liabilities, Note 8(e) 90,513 112,581 Allowance for indirect loan losses, Note 6(d.2) 17,932 35,495 Accounts payable to reinsurers and coinsurers 7,260 5,648 3,201,591 2,830,330 Non-financial instruments Taxes payable 80,331 138,819 Provision for other contingencies 70,671 79,304 Registration for use of POS 21,962 17,029 Deferred income (***) 23,490 57,001 Others 9,315 6,681 205,769 298,834 Total 3,407,360 3,129,164 (**) Corresponds mainly to outstanding balances payable to affiliated businesses, for the consumptions made by the cards users, net of the respective fee charged by Izipay, which are mainly settled the day after the transaction was made. (***) Corresponds mainly to deferred fees for indirect loans (mainly guarantee letters) and the transactions registered in Izipay related to installments pending of accrual within the contract’s term with affiliated businesses. (b) The following table presents, as of December 31, 2023 and 2022, the fair value of derivative financial instruments recorded as assets or liabilities, including their notional amounts. The notional gross amount is the nominal amount of the derivative’s underlying asset, and it is the base over which changes in the fair value of derivatives are measured; see Note 18(a): Note Assets Liabilities Notional Effective part Maturity Hedged Caption of the S/(000) S/(000) S/(000) S/(000) 2023 Derivatives held for trading (*) - Forward exchange contracts 36,595 29,517 4,875,692 — Between January 2024 and December 2025 — — Interest rate swaps 40,350 25,196 1,530,493 — Between March 2024 and June 2036 — — Cross swaps 20,982 44,897 1,370,799 — Between January 2024 and April 2028 — — Options 1,172 1,174 279,047 — Between January 2024 and December 2024 — — 99,099 100,784 8,056,031 — Derivatives held as hedges - Cash flow hedges: Cross currency swaps (CCS) 13 (f) 2,958 7,383 1,112,700 (10,199 ) October 2026 Corporate bonds Bonds, notes and obligations outstanding Cross currency swaps (CCS) 13 (h) 56,044 — 556,950 (3,309 ) October 2027 Senior bond Bonds, notes and obligations outstanding Cross currency swaps (CCS) 12 (d.5) — 3,020 241,085 (1,374 ) Between January 2025 and June 2025 Due to banks Due to banks and correspondents Cross currency swaps (CCS) 12 (d.8) — 3,823 185,450 (1,234 ) May 2025 Due to banks Due to banks and correspondents Cross currency swaps (CCS) 12 (d.9) — 6,708 111,270 (578 ) August 2024 Due to banks Due to banks and correspondents Cross currency swaps (CCS) 12 (d.10) — 9,442 111,270 (277 ) October 2024 Due to banks Due to banks and correspondents Cross currency swaps (CCS) 13 (h) — 5,245 74,260 (2,401 ) October 2027 Senior bond Bonds, notes and obligations outstanding Cross currency swaps (CCS) 13 (h) — 5,041 74,260 (1,923 ) October 2027 Senior bond Bonds, notes and obligations outstanding Cross currency swaps (CCS) 12 (d.13) — 811 74,180 (619 ) February 2025 Due to banks Due to banks and correspondents Cross currency swaps (CCS) 12 (e.1) — 3,138 37,090 (88 ) November 2024 Due to banks Due to banks and correspondents Cross currency swaps (CCS) 13 (i) — — — (669 ) — Corporate bonds Bonds, notes and obligations outstanding 59,002 44,611 2,578,515 (22,671 ) 158,101 145,395 10,634,546 (22,671 ) Note Assets Liabilities Notional Effective part Maturity Hedged Caption of the consolidated S/(000) S/(000) S/(000) S/(000) 2022 Derivatives held for trading (*) - Forward exchange contracts 58,201 27,556 6,328,060 — Between January 2023 and December 2023 — — Interest rate swaps 77,045 141,823 2,672,533 — Between January 2023 and March 2029 — — Currency swaps 67,737 38,551 2,424,566 — Between January 2023 and June 2036 — — Cross currency swaps — 75,489 224,485 — January 2023 — — Options 99 463 80,151 — Between January 2023 and December 2023 — — 203,082 283,882 11,729,795 — Derivatives held as hedges - Cash flow hedges: Cross currency swaps (CCS) 13(i) 237,438 — 1,681,974 (20,199 ) January 2023 Corporate bonds Bonds, notes and obligations outstanding Cross currency swaps (CCS) 13(h) 75,280 — 573,000 (33,565 ) October 2027 Senior bond Bonds, notes and obligations outstanding Cross currency swaps (CCS) 12(d.9) — 3,916 114,420 360 August 2024 Due to banks Due to banks and correspondents Cross currency swaps (CCS) 12(d.10) — 6,295 114,420 (355 ) October 2024 Due to banks Due to banks and correspondents Cross currency swaps (CCS) 12(d.5) — 931 57,210 (225 ) January 2025 Due to banks Due to banks and correspondents Cross currency swaps (CCS) 12(e.1) — 2,014 38,140 (156 ) November 2024 Due to banks Due to banks and correspondents 312,718 13,156 2,579,164 (54,140 ) 515,800 297,038 14,308,959 (54,140 ) (*) During the years 2023, 2022 and 2021, the Group recognized gains for S/68,315,000 and losses for S/4,523,000 and S/60,275,000, respectively, as a result of the valuation of derivative financial instruments held for trading, which were recorded in the caption “Net (loss) gain from financial assets at fair value through profit or loss” in the consolidated statement of income. (i) As of December 31, 2023 and 2022, certain derivative financial instruments hold collateral deposits; see Note 4(d). (ii) For the designated hedging derivatives mentioned in the table above, changes in fair values of hedging instruments completely offset the changes in fair values of hedged items; therefore, there has been no hedge ineffectiveness as of December 31, 2023 and 2022. During 2023 and 2022, there were no discontinued hedges accounting. (iii) Derivatives held for trading are traded mainly to satisfy clients’ needs. The Group may also take positions with the expectation of profiting from favorable movements in prices or rates. Also, this caption includes any derivatives which do not comply with IFRS 9 hedging accounting requirements. (iv) The future effect of current cash flow hedges on the consolidated statement of income, net of the deferred Income Tax, which will be included in the caption “Net (loss) gain of financial assets at fair value through profit or loss” when realized, is presented below: As of December 31, 2023 As of December 31, 2022 Up to 1 From 1 to 3 years Over 3 years Expected Up to 1 year From 1 to 3 years Over 3 years Expected S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Consolidated statement of income – (Expense) income (2,139 ) (13,717 ) (16,077 ) (31,933 ) 429 (731 ) (8,960 ) (9,262 ) The transfer of net unrealized losses on cash flow hedges to the consolidated statement of income is presented in Note 16(d) and 16(e). (v) The gain (loss) for cash flow hedges reclassified to the consolidated statement of income for the years ended as of December 31, 2023 and 2022, is as follows: 2023 2022 S/(000) S/(000) Interest expenses from cash flow hedges (116,885 ) (78,300 ) Interest income from cash flow hedges 92,637 62,158 Expenses for exchange differences from cash flow hedges (136,625 ) (337,907 ) Income for exchange differences from cash flow hedges 118,180 225,399 (42,693 ) (128,650 ) These amounts offset the effects of interest rate risk and exchange rate risk on the hedged item. The following table shows hedging instruments that the Group uses in its cash flow hedges due to maturities: December 31, 2023 Up to 1 month 3 to 12 months 1 to 5 years Over 5 years Total Cross currency swaps (CCS) Notional — 259,630 2,318,885 — 2,578,515 Average interest rate in US Dollars — 3.60 % 3.07 % — — Average interest rate in Soles — 8.09 % 3.86 % — — Average exchange rate Soles / US Dollar — 3.94 3.66 — — December 31, 2022 Up to 1 month 3 to 12 months 1 to 5 years Over 5 years Total Cross currency swaps (CCS) Notional 1,681,974 — 897,190 — 2,579,164 Average interest rate in US Dollars 3.38 % — 3.80 % — — Average interest rate in Soles 4.87 % — 5.03 % — — Average exchange rate Soles / US Dollar 3.26 — 3.58 — — (vi) The following table shows the nominal value and the weighted average maturity of derivative and non-derivative financial instruments that were subject to the reform of the reference interest rate, see Note 3.4(ah): Derivative financial instruments 2022 Derivative nominal value (*) S/(000) Average in years (*) Position purchased (LIBOR is paid) Interest rate swaps 3-month LIBOR 208,002 5.8 6-month LIBOR 278,060 8.2 486,062 Cross currency swaps 6-month LIBOR 114,420 1.5 Total 600,482 Position sold (LIBOR is received) Interest rate swaps 3-month LIBOR 251,873 5.3 6-month LIBOR 346,712 7.1 598,585 Cross currency swaps 6-month LIBOR 202,142 1.8 Total 800,727 (*) Balances as of December 31, 2022, that changed to the new benchmark rate on June 30, 2023. As of December 31, 2022, the Group does not present derivative financial instruments classified as hedge accounting that are subject to the interest rate benchmark reform; see Note 3.4(ah). 2022 Non-derivative financial instruments Nominal value Average in years S/(000) Asset Loans 1-month LIBOR — — 3-month LIBOR 465,494 3.8 6-month LIBOR 197,891 11.8 Total 663,385 Liability Issuances 3-month LIBOR 1,144,200 5.0 Total 1,144,200 (c) As of December 31, 2023 and 2022, corresponds to accounts receivable and payable for the sale and purchase of financial investments negotiated during the last days of the month, which were settled at the beginning of the following month. As of said dates, the balance corresponds mainly to the purchase and sale of Sovereign Bonds issued by the Peruvian Government and Global Bonds issued by the Treasury of the United States of America. (d) Operations in process include transactions made during the last days of the month and other types of similar transactions that are reclassified to their corresponding accounting accounts in the following month. These transactions do not affect the consolidated statement of income. |
Deposits and obligations
Deposits and obligations | 12 Months Ended |
Dec. 31, 2023 | |
Text Block [Abstract] | |
Deposits and obligations | 11. Deposits and obligations (a) This caption is made up as follows: 2023 2022 S/(000) S/(000) Saving deposits 17,756,097 20,911,746 Time deposits (e) 17,288,629 12,866,602 Demand deposits 13,376,375 13,824,824 Compensation for service time (c) 760,551 921,288 Other obligations 6,582 6,248 Total 49,188,234 48,530,708 (b) Interest rates applied to deposits and obligations are determined based on the market interest rates. (c) In May 2022, through Act No. 31480 “Act Authorizing the Withdrawal of Severance Indemnities to Cover Economic Needs Caused by the Covid-19 Pandemic”, the Peruvian government authorized clients, until December 31, 2023, to withdraw 100 percent of these deposits. As part of this benefit, during 2023 approximately 308,000 clients withdrew approximately S/1,061,734,000 (during 2022, approximately 261,000 clients withdrew approximately S/767,470,000). (d) As of December 31, 2023 and 2022, deposits and obligations of approximately S/18,668,431,000 and S/18,368,816,000, respectively, are covered by the Peruvian Deposit Insurance Fund. Likewise, at those dates, the coverage of the Deposit Insurance Fund by each client is up to S/123,810 and S/125,603, respectively. (e) The table below presents the balance of time deposits classified by maturity as of December 31, 2023 and 2022: 2023 2022 S/(000) S/(000) Up to 1 month 6,131,655 2,797,703 From 1 to 3 months 3,890,589 1,973,288 From 3 months to 1 year 6,458,103 6,788,680 From 1 to 5 years 512,280 1,023,473 Over 5 years 296,002 283,458 Total 17,288,629 12,866,602 |
Due to banks and correspondents
Due to banks and correspondents | 12 Months Ended |
Dec. 31, 2023 | |
Text Block [Abstract] | |
Due to banks and correspondents | 12. Due to banks and correspondents (a) This caption is comprised of the following: 2023 2022 S/(000) S/(000) By type - Banco Central de Reserva del Peru (b) 3,683,687 4,481,138 Promotional credit lines (c) 2,014,600 1,863,482 Loans received from foreign entities (d) 2,895,637 339,446 Loans received from Peruvian entities (e) 309,525 357,770 8,903,449 7,041,836 Interest and commissions payable 122,481 58,810 9,025,930 7,100,646 2023 2022 S/(000) S/(000) By term - Short term 4,852,495 2,433,459 Long term 4,173,435 4,667,187 Total 9,025,930 7,100,646 (b) As part of the exceptional measures implemented to mitigate the financial and economic impact generated by the Covid-19 pandemic, see Note 1(c), the BCRP issued a series of regulations related to the loans repurchase agreements. In this sense, during 2022, Interbank took in repurchase agreements of loan portfolios for an amount of S As of December 31, 2023, includes repurchase operations on loans represented by securities according to which Interbank receives a debt in local currency for approximately S/540,158,000 (S/1,909,375,000 as of December 31, 2022), and gives commercial and micro and small business loans as guarantee; see Note 6(a). As of December 31, 2023, these obligations have maturities between July 2024 and November 2025, and accrue interest at effective rates 0.50 percent; these operations accrued interest payable for approximately S/114,000 (as of December 31, 2022, these obligations have maturities between May 2023 and November 2025, and accrued interest at effective rates between 0.50 percent; these operations accrued interest payable for S/4,049,000). Additionally, as of December 31, 2023, it includes repurchase agreements whereby Interbank receives a debt in Soles for approximately S/3,143,529,000 and delivers securities of its investment portfolio as guarantees. In relation to said operations, Interbank delivered as guarantees Peruvian Sovereign Bonds and Negotiable Certificates of Deposits issued by the BCRP, which are recorded as investments at fair value through other comprehensive income and investments at amortized cost; see Note 5(b) and (d), respectively. These operations have a maturity between January 2024 and October 2024 and accrue interest at effective interest rates between 0.50 percent and 7.33 percent. These operations accrue interest payable for approximately S/59,864,000 (as of December 31, 2022, Interbank received a debt in Soles for approximately S/2,571,763,000, and gave as guarantee s (c) Promotional credit lines are loans in Soles and US Dollars from the Corporación Financiera de Desarrollo (“COFIDE”) and Fondo Mivivienda (“FMV”) whose purpose is to promote development in Peru. These liabilities are guaranteed by a loan portfolio up to the amount of the line and include specific agreements on the use of funds, the financial conditions to be met and other management issues. In Management’s opinion, Interbank is meeting these requirements. As of December 31, 2023, COFIDE’s loans accrued, in foreign currency, an effective annual interest rate that fluctuated between 5.81 percent and 10.62 percent, and maturities between December 2029 and October 2034 (as of December 31, 2022, they accrued, in local currency, an effective annual interest rate that fluctuated between 7.55 percent and 7.67 percent, and maturities in January 2027, and , , As of December 31, 2023, FMV’s loans accrued, in local currency, an effective annual interest rate that fluctuated between 5.0 percent and 8.30 percent, and maturities between January 2024 and December 2048 , , , , , (d) As of December 31, 2023 and 2022, corresponds to the following funding in foreign currency: Entity Country Final maturity 2023 2022 S/(000) S/(000) Standard Chartered Bank London (d.1) United Kingdom 2026 662,161 — Wells Fargo (d.2) United States of America 2024 296,720 — Citigroup Global Markets Inc. (d.3) United States of America 2026 289,867 — Sumitomo Mitsui Banking (d.4) Japan 2026 259,630 — Banco del Estado de Chile (d.5) Chile 2025 241,085 57,210 Bank of America (d.6) United States of America 2024 203,995 — Bank of Montreal (d.7) Canada 2024 185,450 — Banco Bilbao Vizcaya Argentaria NY Branch (d.8) Spain 2025 185,450 — Caixabank S.A. Barcelona (d.9) Spain 2024 166,905 114,420 JP Morgan Chase Bank NY (d.10) United States of America 2024 111,270 114,420 Bank of New York (d.11) United States of America 2024 92,725 — Bank J. Safra Sarasin (d.12) Switzerland 2024 / 2023 81,598 53,396 Standard Chartered Bank NY (d.13) United States of America 2025 74,180 — HSBC Branch India (d.14) India 2024 37,090 — Banco Interamericano de Desarrollo (d.15) Multilateral 2024 7,511 — 2,895,637 339,446 During the year 2023, the operations with foreign entities accrued an average interest rate between 6-month Term SOFR plus (d.1) Correspond to two loans received in March and June 2023 for S/281,784,000 and S/380,377,000, respectively, which accrue interest at a nominal annual rate of 7.51 percent and 6.55 percent, respectively. (d.2) Correspond to two loans received in July and September 2023 for US$30,000,000 and US$50,000,000, respectively, which accrue interest at the 6-month Term SOFR rate plus 0.73 percent. (d.3) Correspond to a loan received in April 2023 for S/289,867,000, which accrues interest at a nominal annual rate of (d.4) Correspond to a loan received in December 2023 for US$70,000,000, which accrues interest at the 6-month Term SOFR rate plus (d.5) Correspond to two loans received in May 2023 and December 2022 for US$50,000,000 and US$15,000,000, respectively, which accrue interest at the 6-month Term SOFR rate plus 1.70 percent and 6-month Term SOFR rate plus 1.99 percent, respectively. As of December 31, 2023, Interbank holds two cross currency swap contracts for a total of US$65,000,000 (approximately equivalent to S/241,085,000) that were designated as cash flow hedges (a contract for US$15,000,000, approximately equivalent to S/57,210,000, as of December 31, 2022); see Note 10(b). Through these operations, the loans were economically converted to fixed rates of 8.59 percent and 7.88 percent, respectively. (d.6) Correspond to two loans received in July and December 2023 for US$20,000,000 and US$35,000,000, respectively, which accrue interest at the 6-month Term SOFR rate plus 0.73 percent and 3-month Term SOFR rate plus 0.78 percent, respectively. (d.7) Correspond to a loan received in March 2023 for US$50,000,000, which accrues interest at the 6-month Term SOFR rate plus (d.8) Correspond to a loan received in April 2023 for US$50,000,000, which accrues interest at the 6-month Term SOFR rate plus (d.9) Correspond to two loans received in December 2023 and July 2022 for US$15,000,000 and US$30,000,000, respectively, which accrue interest at the 6-month Term SOFR rate plus 0.74 percent and 6-month Term SOFR rate plus 1.35 percent, respectively. As of December 31, 2023, Interbank holds a cross currency swap contract for an amount of US$30,000,000 (approximately equivalent to S/111,270,000), which was designated as cash flow hedge; (a contract of US$30,000,000, approximately equivalent to S/114,420,000, as of December 31, 2022), see Note 10(b). Through this operation, the loan was economically converted to a fixed rate of 7.74 percent. (d.10) Correspond to a loan received in September 2022 for US$30,000,000, which accrue s (d.11) Correspond to a loan received in October 2023 for US$25,000,000, which accrue s (d.12) Correspond to two loans received by Inteligo Bank in December 2023 for US$7,000,000 and US$15,000,000, which accrue interest at annual effective rates of 6.53 percent and 6.58 percent, respectively, and are guaranteed by corporate bonds. As of December 31, 2022, corresponded to a loan received by Inteligo Bank in December 22 for US$14,000,000, which accrued interest at the annual effective rate of 5.61 percent, and was guaranteed by corporate bonds; see Note 5(b). (d.13) Correspond to a loan received in January 2023 for US$20,000,000, which accrue s (d.14) Correspond to a loan received in March 2023 for US$10,000,000, which accrue s (d.15) Correspond to a loan received in October 2023 for US$2,025,000, which accrue s (e) As of December 31, 2023 and 2022, corresponds to the following funding in local and foreign currency: 2023 Entity Maturity Currency Book S/(000) Banco de Credito del Peru S.A. Jan-24 / Jan-26 PEN 127,000 Scotiabank Peru S.A.A. Jan-24 / Oct-25 PEN 75,465 Bank of GNB Peru S.A. Jan-24 PEN 69,970 Bank of China (Peru) S.A.(e.1) Nov-24 USD 37,090 309,525 2022 Entity Maturity Currency Book S/(000) Scotiabank Peru S.A.A. Jan-23 / Oct-25 PEN 120,718 Banco de Credito del Peru S.A. Jan-23 / Oct-23 PEN 81,644 Bank of GNB Peru S.A. Jan-23 PEN 71,500 Bank BBVA Continental Jan-23 USD 45,768 Bank of China (Peru) S.A. (e.1) Nov-24 USD 38,140 357,770 (e.1) As of December 31, 2023, includes a loan received from Bank of China Peru in October 2022 for US$10,000,000, which accrues interest at a 6-month Term SOFR rate plus 1.50 percent. As of December 31, 2023, Interbank holds a cross currency swap contract for an amount of US$10,000,000 (approximately equivalent to S/37,090,000), which was designated as cash flow hedge (a contract of US$10,000,000, approximately equivalent to S/38,140,000, as of December 31, 2022), see Note 10(b), through this operation, the loan was economically converted to a fixed rate of 8.18 percent. (f) As of December 31, 2023 and 2022, maturities are the following: Year 2023 2022 S/(000) S/(000) 2023 — 2,433,459 2024 4,852,495 1,888,657 2025 1,185,753 1,331,489 2026 1,373,363 138,499 2027 onwards 1,614,319 1,308,542 Total 9,025,930 7,100,646 |
Bonds, notes and other obligati
Bonds, notes and other obligations | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of detailed information about borrowings [abstract] | |
Bonds, notes and other obligations | 13. Bonds, notes and other obligations (a) This caption is comprised of the following: Issuance Issuer Annual interest Interest Maturity Amount issued 2023 2022 (000) S/(000) S/(000) Local issuances Subordinated bonds – second program (b) Third (A series) Interbank 7.50% Semi-annually 2023 US$50,000 — 190,616 Second (A series) Interbank 5.81% Semi-annually 2023 S/150,000 — 149,998 — 340,614 Subordinated bonds – third program (b) Third - single series (c) Interseguro 4.84% Semi-annually 2030 US$25,000 92,725 95,350 First - single series Interseguro 6.00% Semi-annually 2029 US$20,000 74,102 76,213 Second - single series Interseguro 4.34% Semi-annually 2029 US$20,000 74,180 76,280 241,007 247,843 Corporate bonds – second program Fifth (A series) Interbank 3.41% Semi-annually 2029 S/150,000 150,000 150,000 Total local issuances 391,007 738,457 International issuances Subordinated bonds (d) Interbank 4.000% Semi-annually 2030 US$300,000 1,107,228 1,137,691 Corporate bonds (e) Interbank 5.000% Semi-annually 2026 S/312,000 311,644 311,522 Corporate bonds (f) Interbank 3.250% Semi-annually 2026 US$400,000 1,477,909 1,517,661 Subordinated bonds (g) Interbank 6.625% Semi-annually 2029 US$300,000 1,112,438 1,142,764 Senior bonds (h) IFS 4.125% Semi-annually 2027 US$300,000 1,045,258 1,074,396 Corporate bonds (i) Interbank 3.375% Semi-annually 2023 US$484,895 — 1,849,133 Total international issuances 5,054,477 7,033,167 Total local and international issuances 5,445,484 7,771,624 Interest payable 106,145 134,679 Total 5,551,629 7,906,303 (*) The Spanish term “Valor de actualización constante” refers to amounts in Soles indexed by inflation. (b) Subordinated bonds do not have specific guarantees and, in accordance with SBS rules, qualify as second level equity (Tier 2) in the determination of the effective equity; see Note 16(f). On January 11, 2023, Interbank redeemed the bond whose nominal value was S/150,000,000, and on December 13, 2023, redeemed the bond whose nominal value was US$ 50,000,000. (c) On September 29, 2020, Interseguro issued subordinated bonds denominated “Third Issuance of the Third Program of Subordinated Bonds Interseguro (Single Series)” for the amount of US$25,000,000, recorded in the Section “Transferable Securities and Issuance Programs” of the Public Registry of the Stock Market, under the Third Program of Subordinated Bonds of Interseguro. (d) On June 30, 2020, Interbank placed subordinated bonds called “4.00% Subordinated Notes due 2030” for an amount of US$300,000,000, under Rule 144A and Regulation S of the U.S. Securities Act of 1933 of the United States of America. The issuance date of these bonds was July 8, 2020. Starting on July 8, 2025, prior to to (e) On September 24, 2019, Interbank placed corporate bonds denominated “5.00% Senior Notes due 2026” for S/312,000,000, under Rule 144A and Regulation S of the U.S. Securities Act of 1993 of the United States of America. These bonds were issued on October 1, 2019. (f) On September 25, 2019, Interbank placed corporate bonds denominated “3.25% Senior Notes due 2026” for US$400,000,000, under Rule 144A and Regulation S of the U.S. Securities Act of 1993 of the United States of America. These bonds were issued on October 4, 2019. As of December 31, 2023, Interbank holds four cross currency swap contracts for a total of US$300,000,000 (equivalent to approximately S/1,112,700,000), which were designated as cash flow hedges; see Note 10(b). Through these operations, part of the amount issued of said bonds was economically converted to Soles at rates of (g) Beginning in March 2024, the interest rate changes to 8.625 percent. Since said date, Interbank can redeem the entirety of the bonds without penalties. According to SBS regulations, this issuance qualifies as second level equity (“Tier 2”) in the determination of the effective equity. As of December 31, 2023, Management does not have the intention to redeem these bonds before their maturity date; said situation could change in the future depending on the market conditions. (h) From 2018 until July 2027, IFS, at any time, can redeem these bonds, paying a penalty equal to the United States of America Treasury rate plus 30 basis points. The payment of principal will take place on the maturity date of the bonds or when IFS redeems them. In October 2017, IFS entered a cross currency swap for US$150,000,000 (equivalent to approximately S/556,950,000 and S/573,000,000, as of December 31, 2023 and 2022, respectively). Lastly, during January and February 2023, IFS signed two cross currency swap contracts for US$20,000,000 each (equivalent to approximately S/74,260,000 each) , ; As of December 31, 2023, Management does not intend to redeem these bonds before their maturity date; said situation may change in the future, depending on market conditions. (i) In January 2018, Interbank issued corporate bonds called “3.375 Senior Unsecured Notes” for US$200,000,000, under Rule 144A and Regulation S of the U.S. Securities Act of 1993 of the United States of America. As part of said program, Interbank performed a bond swapping offer aimed to the bondholders of the corporate bonds called “5.750% Senior Notes due 2020” issued by its Panama branch, thus swapping bonds for an amount of US$263,322,000, which generated a swapping premium for approximately US$21,573,000, for an amount of US$284,895,000. Considering the issuance of bonds in January 2018 and the exchange of bonds previously issued carried out on said date, the total balance of the “3.375 Senior Unsecured Notes” amounted to US$484,895,000. As of December 31, 2022, Interbank held fourteen cross-currency swaps for US$441,000,000 (equivalent to approximately S/1,681,974,000), which were designated as cash flow hedges; see Note 10(b). Through these operations, part of the issued bonds amount was economically converted into Soles at an annual interest rate of percent. On January 18, 2023, the bond was paid according to its maturity date. (j) International issuances are listed at the Luxembourg Stock Exchange. On the other hand, the local and international issuances include standard clauses of compliance with financial ratios, the use of funds and other administrative matters. As of December 31, 2023 and 2022, the international issuances maintain mainly this common clause: submit audited financial statements on an annual basis and unaudited financial statements on a quarterly basis (both in Spanish and English). In the opinion of Group Management and its legal advisers, this clause has been met by the Group as of December 31, 2023 and 2022. In addition, Interbank maintains the following additional clauses: (i) limits regarding related party transactions that are not under market conditions and (ii) limits regarding consolidation, merger or transfer of Interbank assets. In the opinion of Interbank Management and its legal advisers, these clauses have been met by Interbank as of December 31, 2023 and 2022. (k) As of December 31, 2023 and 2022, the repayment schedule of these obligations is as follows: Year 2023 2022 S/(000) S/(000) 2023 — 2,296,506 2024 71,709 — 2025 — — 2026 1,789,553 1,829,183 2027 onwards 3,690,367 3,780,614 Total 5,551,629 7,906,303 |
Assets and Liabilities for insu
Assets and Liabilities for insurance and reinsurance contracts | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure Of Reconciliation Of Changes Of Assets And Liabilities For Insurance Reinsurance Contracts [Abstract] | |
Assets and Liabilities for insurance and reinsurance contracts | 14. Assets and Liabilities for insurance and reinsurance contracts (a) This caption is comprised of the following: 2023 2022 Assets Liabilities Net Assets Liabilities Net S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Reinsurance contracts held (*) (26,287 ) 1,895 (24,392 ) (34,053 ) 3,476 (30,577 ) Insurance contracts issued Liability for remaining coverage — 12,000,220 12,000,220 — 11,022,665 11,022,665 Liability for incurred claims — 205,421 205,421 — 205,180 205,180 Total insurance contracts issued (b) and (c) — 12,205,641 12,205,641 — 11,227,845 11,227,845 Total insurance contracts issued and reinsurance contracts held (26,287 ) 12,207,536 12,181,249 (34,053 ) 11,231,321 11,197,268 (*) Correspond to the ceded part of the reinsurance contracts mainly life insurance contracts. The Group disaggregates the information to provide disclosure regarding the life insurance contracts issued and reinsurance contracts issued separately. This disaggregation has been determined based on how the insurance company is managed. (b) The movement of issued insurance contract liabilities is presented below: 2023 Liabilities for remaining coverage Liabilities for incurred claims in contracts measured by the general model (BBA) and variable fee approach (VFA) Liabilities for incurred claims in contracts measured by the Premium Allocation Approach (PAA) Excluding loss component Loss Fulfillment Cash Flows Risk Adjustment (RA) Fulfillment Cash Flows (FCF) Risk Adjustment (RA) Total S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Balance as of January 1, 2023 10,337,035 685,630 151,594 5,411 45,278 2,897 11,227,845 Insurance revenue (720,636 ) — — — — — (720,636 ) Contracts under fair value, BBA and VFA approach (495,923 ) — — — — — (495,923 ) Contracts under PAA approach (224,713 ) — — — — — (224,713 ) Insurance service expenses 127,009 (12,547 ) 433,958 (81 ) 106,801 (1,566 ) 653,574 Incurred claims and other expenses — — 965,054 (81 ) 58,884 (1,566 ) 1,022,291 Amortization of insurance acquisition cash flows 127,009 — — — — — 127,009 Losses on onerous contracts and reversals of those losses — (12,547 ) — — — — (12,547 ) Changes to liabilities for incurred claims — — (531,096 ) — 47,917 — (483,179 ) Insurance service result (593,627 ) (12,547 ) 433,958 (81 ) 106,801 (1,566 ) (67,062 ) Insurance financial expenses 1,499,572 29,771 — — (545 ) — 1,528,798 Insurance financial result 543,941 29,771 — — (545 ) — 573,167 Interest rate effect (*), see Note 3.4(d.1) 955,631 — — — — — 955,631 Effect of movements in exchange rates (135,726 ) (3,736 ) (447 ) (73 ) (213 ) (53 ) (140,248 ) Total changes in the statement of income and other comprehensive income 770,219 13,488 433,511 (154 ) 106,043 (1,619 ) 1,321,488 Total cash flows and investment component 193,895 (47 ) (429,456 ) — (108,084 ) — (343,692 ) Premiums received 974,312 — — — — — 974,312 Claims and other expenses paid — — (996,755 ) — (108,084 ) — (1,104,839 ) Insurance acquisition cash flows (213,118 ) (47 ) — — — — (213,165 ) Investment component (567,299 ) — 567,299 — — — — Balance as of December 31, 2023 11,301,149 699,071 155,649 5,257 43,237 1,278 12,205,641 (*) Comprises the variation in market interest rate. In 2023, the rates for pension business in US Dollars presented a decrease from 6.472 percent in 2022 to 6.409 percent in 2023; whereas rates for pension business in soles presented a decrease from percent in 2023; and rates for pension business in soles VAC presented a decrease, from 4.765 2022 Liabilities for remaining coverage Liabilities for incurred claims in contracts measured by the general model (BBA) and variable fee approach (VFA) Liabilities for incurred claims contracts measured by the Premium Allocation Approach (PAA) Excluding loss component Loss Fulfillment Cash Flows Risk Adjustment Fulfillment Cash Flows (FCF) Risk Adjustment Total S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Balance as of January 1, 2022 12,063,449 509,792 164,040 5,936 43,508 1,242 12,787,967 Insurance revenue (677,175 ) — — — — — (677,175 ) Contracts under fair value, BBA and VFA approach (462,266 ) — — — — — (462,266 ) Contracts under PAA approach (214,909 ) — — — — — (214,909 ) Insurance service expenses 118,287 162,882 364,676 (509 ) 77,012 1,524 723,872 Incurred claims and other expenses — — 969,231 130 39,809 16,104 1,025,274 Amortization of insurance acquisition cash flows 118,287 — — — — — 118,287 Losses on onerous contracts and reversals of those losses — 162,882 — — — — 162,882 Changes to liabilities for incurred claims — — (604,555 ) (639 ) 37,203 (14,580 ) (582,571 ) Insurance service result (558,888 ) 162,882 364,676 (509 ) 77,012 1,524 46,697 Insurance financial expenses (1,251,364 ) 24,950 5,270 — 10,073 124 (1,210,947 ) Insurance financial result 462,970 24,950 5,270 — 10,073 124 503,387 Interest rate effect (*), see Note 3.4(d.1) (1,714,334 ) — — — — — (1,714,334 ) — — Effect of movements in exchange rates (227,427 ) (11,994 ) (894 ) (16 ) (349 ) 7 (240,673 ) Total changes in the statement of income and other comprehensive income (2,037,679 ) 175,838 369,052 (525 ) 86,736 1,655 (1,404,923 ) Total cash flows and investment component 311,265 — (381,498 ) — (84,966 ) — (155,199 ) Premiums received 1,036,338 — — — — — 1,036,338 Claims and other expenses paid — — (913,330 ) — (84,966 ) — (998,296 ) Insurance acquisition cash flows (193,241 ) — — — — — (193,241 ) Investment component (531,832 ) — 531,832 — — — — Balance as of December 31, 2022 10,337,035 685,630 151,594 5,411 45,278 2,897 11,227,845 (*) Comprises the variation in market interest rate. In 2023, the rates for pension business in US Dollars presented an increase from 3.950 percent in 2021 to 6.472 percent in 2022; whereas rates for pension business in soles presented an increase from percent in 2022; and rates for pension business in soles VAC presented an increase, from (c) Following is the movement of the issued insurance contracts’ net assets or liability, showing the present value estimates of future cash flows, risk adjustment and the contractual service margin (CSM) for portfolios included in the life insurance unit: 2023 2022 Estimates of the Risk Adjustment Contractual Service Total Estimates of the Risk Adjustment Contractual Service Total S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Balance as of January 1 10,256,194 277,973 599,799 11,133,966 11,867,379 343,110 491,244 12,701,733 Changes that relate to current services Contractual service margin recognised for services provided — — (80,622 ) (80,622 ) — — (70,761 ) (70,761 ) Risk adjustment recognised for the risk expired — (306 ) — (306 ) — (3,995 ) — (3,995 ) Experience adjustments (114,952 ) — — (114,952 ) 84,129 — — 84,129 Changes that relate to future services Contracts initially recognised in the period (249,907 ) 9,441 289,323 48,857 (259,667 ) 12,591 252,526 5,450 Changes in estimates that adjust the contractual service margin 98,096 609 (98,705 ) — 109,771 (16,594 ) (93,177 ) — Changes in estimates that do not adjust the contractual service margin 70,637 17,930 — 88,567 171,284 (50,137 ) — 121,147 Changes that relate to past services Adjustments to liabilities for incurred claims 2,866 — — 2,866 (16,698 ) — — (16,698 ) Insurance service result (193,260 ) 27,674 109,996 (55,590 ) 88,819 (58,135 ) 88,588 119,272 Insurance financial expenses 1,471,337 111 37,712 1,509,160 (1,226,728 ) — 27,688 (1,199,040 ) Insurance financial result 515,706 111 37,712 553,529 487,606 — 27,688 515,294 Interest rate effect (*), see Note 3.4(d.1) 955,631 — — 955,631 (1,714,334 ) — — (1,714,334 ) Effect of movements in Exchange rates (111,021 ) (2,994 ) (4,637 ) (118,652 ) (231,240 ) (7,002 ) (7,721 ) (245,963 ) Total changes in the statement of income and other comprehensive income 1,167,056 24, 791 143,071 1,334,918 (1,369,149 ) (65,137 ) 108,555 (1,325,731 ) Cash flows (350,975 ) — — (350,975 ) (242,036 ) — — (242,036 ) Premiums received 749,090 — — 749,090 816,911 — — 816,911 Claims and other expenses paid (1,008,640 ) — — (1,008,640 ) (967,912 ) — — (967,912 ) Insurance acquisition cash flows (91,425 ) — — (91,425 ) (91,035 ) — — (91,035 ) Balance as of December 31 11,072,275 302,764 742,870 12,117,909 10,256,194 277,973 599,799 11,133,966 (*) Balance does not include PPA movement of LRC and LIC amounting to S/87,732,000 and S/93,879,000 as of December 31, 2023 and 2022, respectively. Notes to the consolidated financial statements (continued) (d) Following is the CSM movement for insurance contract portfolios for the periods 2023 and 2022: 2023 2022 Total Contracts using the fair value approach Total Contracts using the fair value approach S/(000) S/(000) Contractual Service Margin as of January 1 599,799 491,244 Changes that relate to current services Contractual service margin recognized for services provided (80,622 ) (70,761 ) Changes that relate to future services Contracts initially recognized in the period 289,323 252,526 Changes in estimates that adjust the contractual service margin (98,705 ) (93,177 ) Insurance service result 109,996 88,588 Insurance financial expenses 37,712 27,688 Effect of movements in exchange difference (4,637 ) (7,721 ) Total changes in the statement of income 143,071 108,555 Other movements — — Balance as of December 31 742,870 599,799 (e) The following table details the components of the new insurance contracts issued and included in the life insurance unit: 2023 2022 Contracts issued Contracts issued Non-onerous Onerous Total Non-onerous Onerous Total S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Life insurance contract liabilities Estimate of present value of future cash outflows, excluding insurance acquisition cash flows 683,302 99,200 782,502 740,236 119,087 859,323 Estimates of insurance acquisition cash flows 81,957 8,875 90,832 72,206 9,564 81,770 Estimate of present value of future cash outflows 765,259 108,075 873,334 812,442 128,651 941,093 Estimates of present value of future cash inflows (1,063,336 ) (59,905 ) (1,123,241 ) (1,076,183 ) (124,577 ) (1,200,760 ) Risk adjustment 8,754 687 9,441 11,215 1,376 12,591 Contractual service margin 289,323 — 289,323 252,526 — 252,526 Losses on onerous contracts at initial recognition — 48,857 48,857 — 5,450 5,450 (f) Following is the disclosure of when the CSM is expected to be in profit or loss in future years: 2023 Less than a year From 1 to 2 years From 2 to 3 years From 3 to 4 years From 4 to 5 years More than 5 years Total S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Insurance contracts issued - Pensions (11,028 ) (10,474 ) (9,441 ) (8,398 ) (7,570 ) 294,707 247,796 Life (3,681 ) (2,111 ) (776 ) 1,271 4,240 347,975 346,918 General insurance 38,088 27,662 19,468 12,920 8,397 41,621 148,156 23,379 15,077 9,251 5,793 5,067 684,303 742,870 2022 Less than a year From 1 to 2 years From 2 to 3 years From 3 to 4 years From 4 to 5 years More than 5 years Total S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Insurance contracts issued - Pensions (7,229 ) (6,989 ) (6,421 ) (5,633 ) (4,719 ) 209,288 178,297 Life (6,205 ) (4,417 ) (2,444 ) (442 ) 1,991 294,616 283,099 General insurance 29,172 21,900 16,227 11,473 7,830 51,801 138,403 15,738 10,494 7,362 5,398 5,102 555,705 599,799 (g) Reconciliation of the amount included in net unrealized income for insurance premium reserves. On transition to IFRS 17, the Group applied the fair value approach for certain groups of contracts with term-life cover and surrender options, see Note 3.7 for further details. The movement in the fair value reserve for related financial assets measured at fair value through other comprehensive income is disclosed below: 2023 2022 S/(000) S/(000) Cumulative other comprehensive income, opening balance 1,714,334 — (Loss) Gains recognized in other comprehensive income in the period (955,631 ) 1,714,334 Rate effect of “Renta Particular” contract (*) (14,587 ) — Cumulative other comprehensive income, closing balance 744,116 1,714,334 (*) Comprises the variation in market interest rate of contracts with investment components recorded in the caption “other accounts payable, provisions and other liabilities”, see Note 10. |
Deferred Income Tax asset and l
Deferred Income Tax asset and liability | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of temporary difference, unused tax losses and unused tax credits [abstract] | |
Deferred Income Tax asset and liability | 15. Deferred Income Tax asset and liability (a) As indicated in Note 3.4(aa), the net tax position has been met based on the separate financial statement of each Subsidiary domiciled in Peru. The following table presents a summary of the items comprising the Subsidiaries’ deferred Income Tax: 2023 2022 S/(000) S/(000) Deferred asset Provision for loan portfolio and other provisions 261,713 291,634 Tax loss 23,686 28,054 Net unrealized losses from fluctuation in investments through other comprehensive income 9,853 11,688 Leveling of assets and liabilities 7,474 16,357 Deferred service income 6,975 7,485 Unrealized loss from derivatives 6,407 245 Right-of-use assets 2,787 3,405 Deferred income from indirect credits (stand-by letters) 2,272 2,319 Modification of rescheduled loan cash flows 731 (7,943 ) Recording of past-due and refinanced loans (121,928 ) (74,401 ) Others 24,543 40,593 Deferred liability Amortization of intangible assets, net (79,773 ) (62,213 ) Deemed cost of fixed assets (60,731 ) (61,403 ) Deferred cost of POS affiliation and registration (25,348 ) (26,980 ) Others (2,725 ) (3,053 ) Total deferred Income Tax asset, net 55,936 165,787 Deferred liability (*) Higher value of intangibles generated by business combination, Note 1(d) 74,744 80,852 Higher value of property, furniture and equipment and right-of-use generated by business combination, Note 1(d) 968 1,047 Total deferred Income Tax liability, net 75,712 81,899 (*) During 2022, included S/4,642,000 in results for the period. (b) In Management’s opinion, the deferred Income Tax assets will be recovered from the taxable income that will be generated by each company of the Group over the coming years, including the portion that is recorded in the consolidated statement of changes in equity. (c) The table below presents the amounts reported in the consolidated statement of income for the years 2023, 2022 and 2021: 2023 2022 2021 S/(000) S/(000) S/(000) Current – Expense 140,332 432,392 257,252 Current – Dividend expense, Note 17(b) 33,020 30,587 39,108 Deferred – Expense (income) 102,244 (442 ) 205,752 275,596 462,537 502,112 (d) The table below presents the reconciliation of the effective Income Tax rate to the statutory tax rate for the Group: 2023 2022 2021 S/(000) % S/(000) % S/(000) % Income before Income Tax 1,354,872 100.0 2,140,651 100.0 2,302,291 100.0 Theoretical tax 399,687 29.5 631,492 29.5 679,176 29.5 Increase (decrease) in income of Subsidiaries not domiciled in Peru 46,453 3.4 11,412 0.5 (39,498 ) (1.7 ) Non-taxable income, net (275,379 ) (20.3 ) (243,003 ) (11.4 ) (224,780 ) (9.8 ) Permanent non-deductible expenses 109,602 8.1 61,833 2.9 69,367 3.0 Non-taxable translation results (4,767 ) (0.4 ) 803 0.1 17,847 0.8 Income Tax 275,596 20.3 462,537 21.6 502,112 21.8 |
Equity
Equity | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of classes of share capital [abstract] | |
Equity | 16. Equity (a) Capital stock and distribution of dividends - IFS’s shares are listed on the Lima Stock Exchange and, since July 2019, they are listed also on the New York Stock Exchange. IFS’s shares have no nominal value and their issuance value was US$9.72 per share. As of December 31, 2023 and 2022, IFS’s capital stock is represented by 115,447,705 subscribed and paid-in common shares. The General Shareholders’ Meeting of IFS held on April 1, 2024, agreed to distribute dividends charged to profits for the year 2023 for approximately US$115,443,000 (equivalent to approximately S/ The General Shareholders’ Meeting of IFS held on March 31, 2023, agreed to distribute dividends charged to profits for the year 2022 for approximately US$136,222,000 (equivalent to approximately S/511,788,000); equivalent to US$1.18 per share, which were paid on May 8, 2023. The General Shareholders’ Meeting of IFS held on March 31, 2022, agreed to distribute dividends charged to profits for the year 2021 for approximately US$202,025,000 (equivalent to approximately S/751,532,000); equivalent to US$1.75 per share, which were paid on May 6, 2022. The General Extraordinary Shareholders’ Meeting of IFS held on November 24, 2021, agreed to distribute extraordinary dividends for approximately US$75,038,000 (equivalent to approximately S/301,757,000), equivalent to US$0.65 per share, which were The General Shareholders’ Meeting of IFS held on March 31, 2021, agreed to distribute dividends for the year 2020 for approximately US$88,891,000 (equivalent to approximately S/332,096,000), equivalent to US$0.77 per share, which were paid on May 6, 2021. (b) Treasury stock - As of December 31, 2023 and 2022, the Company and some Subsidiaries hold 967,000 and 29,000 shares issued by IFS, respectively, with an acquisition cost equivalent to S/84,309,000 and S/3,363,000. On March 31, 2023, the General Shareholders of IFS approved the Share Repurchase Program for an amount of up to US$100 million of common shares, which may be carried out simultaneously on the Lima Stock Exchange – BVL and New York Stock Exchange – NYSE, on one or more dates at market value. The program is expected to continue until terminated by the Board of Directors. During 2023, within the framework of this Program, Interbank has purchased 938,371 shares, at their On March 29, 2023, Interfondos sold 750 shares for an approximate amount of S/75,000. (c) Capital surplus - Corresponds to the difference between the nominal value of the shares issued and their public offerings price, which were performed in 2007 and 2019. Capital surplus is presented net of the expenses incurred and related to (d) Unrealized results, net - This item is made up as follows: Unrealized gain (loss) Instruments Instruments to be reclassified to the consolidated Equity Debt Insurance Cash Translation Total S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Balances as of January 1, 2021 297,212 1,667,103 (1,255,845 ) (37,108 ) 165,411 836,773 Effect of changes in the discount rates of pension reserves, Note 3.4(d) — — 1,389,995 — — 1,389,995 Unrealized gain from equity instruments at fair value through other comprehensive income, net of unrealized loss 145,899 — — — — 145,899 Transfer to retained earnings from realized gain from equity instruments at fair value through other comprehensive income, Note 5(g) (451,898 ) — — — — (451,898 ) Unrealized gain from debt instruments at fair value through other comprehensive income, net of unrealized loss — (1,986,046 ) — — — (1,986,046 ) Transfer to realized gain from debt instruments at fair value through other comprehensive income, net of unrealized loss — (249,689 ) — — — (249,689 ) Transfer of impairment gain on debt instruments at fair value through other comprehensive income — (30,994 ) — — — (30,994 ) Variation for net unrealized loss on cash flow hedges — — — 68,615 — 68,615 Transfer of realized loss on cash flow hedges to consolidated statement of income, net of realized gain — — — 13,371 — 13,371 Translation of foreign operations — — — — 95,674 95,674 Balances as of December 31, 2021 (8,787 ) (599,626 ) 134,150 44,878 261,085 (168,300 ) Changes due to first adoption of IFRS 17, see Note 3.7 — — (134,177 ) — — (134,177 ) Balances as of January 1, 2022 - Restated (Note 3.7) (8,787 ) (599,626 ) (27 ) 44,878 261,085 (302,477 ) Effect of changes in the discount rates of pension reserves, Note 3.4(d) — — 1,711,520 — — 1,711,520 Unrealized gain from equity instruments at fair value through other comprehensive income, net of unrealized loss (21,663 ) — — — — (21,663 ) Transfer to retained earnings from realized loss from equity instruments at fair value through other comprehensive income, Note 5(g) (16,313 ) — — — — (16,313 ) Unrealized loss from debt instruments at fair value through other comprehensive income, net of unrealized loss — (1,848,192 ) — — — (1,848,192 ) Transfer to realized gain from debt instruments at fair value through other comprehensive income, net of unrealized loss — 14,263 — — — 14,263 Transfer of impairment recovery on debt instruments at fair value through other comprehensive income — 12,746 — — — 12,746 Variation for net unrealized loss on cash flow hedges — — — (70,170 ) — (70,170 ) Transfer of realized loss on cash flow hedges to consolidated statement of income, net of realized gain — — — 16,030 — 16,030 Translation of foreign operations — — — — (50,165 ) (50,165 ) Balances as of December 31, 2022 - Restated (Note 3.7) (46,763 ) (2,420,809 ) 1,711,493 (9,262 ) 210,920 (554,421 ) Effect of changes in the discount rates of pension reserves, Note 3.4(d) — (968,599 ) — — (968,599 ) Unrealized gain (loss) Instruments Instruments to be reclassified to the consolidated Equity Debt Insurance Cash Translation Total S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Unrealized gain from equity instruments at fair value through other comprehensive income, net of unrealized loss. 16,055 — — — — 16,055 Transfer to retained earnings from realized gain from equity instruments at fair value through other comprehensive income, Note 5(g) (33,433 ) — — — — (33,433 ) Unrealized gain from debt instruments at fair value through other comprehensive income, net of unrealized loss. — 1,128,206 — — — 1,128,206 Transfer to realized gain from debt instruments at fair value through other comprehensive income, net of realized loss. — (8,350 ) — — — (8,350 ) Transfer of impairment recovery on debt instruments at fair value through other comprehensive income — 7,390 — — — 7,390 Variation for net unrealized loss on cash flow hedges — — — (67,980 ) — (67,980 ) Transfer of realized loss on cash flow hedges to consolidated statement of income, net of realized gain — — — 45,309 — 45,309 Translation of foreign operations — — — — (21,970 ) (21,970 ) Balances as of December 31, 2023 (64,141 ) (1,293,563 ) 742,894 (31,933 ) 188,950 (457,793 ) (e) Components of other comprehensive income - The consolidated statement of comprehensive income includes: (i) other comprehensive income that will not be reclassified to the consolidated statement of income in future periods, such as the revaluation of gain (loss) in equity instruments at fair value through other comprehensive income; which will not be reclassified to the consolidated statement of income at the time of its disposal, but will be reclassified to retained earnings; and (ii) other comprehensive income to be reclassified to the consolidated statement of income in future periods, such as the comprehensive income of financial instruments derivatives used as cash flow hedges, debt instruments at fair value through other comprehensive income and translation for foreign operations. Below is the movement of the caption: 2023 2022 2021 S/(000) S/(000) S/(000) Other comprehensive income that will not be reclassified to the consolidated statement of income in future periods: Equity instruments at fair value through other comprehensive income Gains (losses) on equity instruments at fair value through other comprehensive income, net 16,055 (21,663 ) 145,899 Subtotal 16,055 (21,663 ) 145,899 Non-controlling interest 8 (43 ) 231 Income Tax 157 (218 ) 31 Total 16,220 (21,924 ) 146,161 Other comprehensive income to be reclassified to the consolidated statement of income in future periods: Debt instruments at fair value through other comprehensive income Net gain (loss) unrealized on debt instruments at fair value through other comprehensive income 1,128,206 (1,848,192 ) (1,986,046 ) Transfer to income of net realized (gain) loss on debt instruments at fair value through other comprehensive income (8,350 ) 14,263 (249,689 ) Transfer to income of loss (recovery) for impairment on debt instruments at fair value through other comprehensive income 7,390 12,746 (30,994 ) Subtotal 1,127,246 (1,821,183 ) (2,266,729 ) Non-controlling interest 3,618 (4,423 ) (6,978 ) Income Tax 3,645 (8,250 ) (8,404 ) Total 1,134,509 (1,833,856 ) (2,282,111 ) Insurance premiums reserve — — 1,389,995 Non-controlling interest — — 2,285 Total — — 1,392,280 Insurance contracts reserve at fair value, Note 14(b) (968,599 ) 1,711,520 — Non-controlling interest (1,592 ) 2,814 — Total (970,191 ) 1,714,334 — Cash flow hedges: Net (loss) gain from cash flow hedges (67,980 ) (70,170 ) 68,615 Transfer of net realized loss from cash flow hedge to consolidated statement of income 45,309 16,030 13,371 Subtotal (22,671 ) (54,140 ) 81,986 Non-controlling interest (105 ) (144 ) 261 Income Tax (6,336 ) (8,670 ) 15,696 Total (29,112 ) (62,954 ) 97,943 Foreign currency translation (21,970 ) (50,165 ) 95,674 (f) Shareholders’ equity for legal purposes (regulatory capital) - IFS is not required to establish a regulatory capital for statutory purposes. As of December 31, 2023 and 2022, the regulatory capital required for Interbank, Interseguro and Inteligo Bank (a Subsidiary of Inteligo Group Corp.), is calculated based on the separate financial statement of each Subsidiary and prepared following the accounting principles and practices of their respective regulators (the SBS or the Central Bank of the Bahamas, in the case of Inteligo Bank). The regulatory capital required for Interbank, Interseguro and Inteligo Bank is detailed below: Interbank’s regulatory capital - According to Legislative Decree No. 1028, Interbank’s regulatory capital must be equal to or higher than 10 percent of the assets and contingent credits weighted by total risk represented by the sum of the regulatory capital requirement for market risk multiplied by 10, the regulatory capital requirement for operational risk multiplied by 10 and the assets and contingent credits weighted by credit risk. Through Multiple Official Letter No. 27358-2021 and Emergency Decree 003-2022, it was established that in the period between April 2021 and August 2022, the regulatory capital for financial companies shall be equal or higher than 8 percent of total risk-weighted assets and contingencies, and from September 2022 to March 2023, it will be of 8.5 percent. Once this period ends, the regulatory capital shall go back to be equal or higher than 10 percent determined as or indicated above. SBS Resolution No. 3952-2022, and its amendments, established that within the period between January and March 2023, the regulatory capital for financial companies must be equal or higher than 8.5 percent of the assets and contingent assets weighted by total risks; equal or higher than 9 percent between April 2023 and February 2024; equal or higher than 9.5 percent between March and August 2024; and 10 percent from September 2024 onwards. This also modifies the regulations for regulatory capital requirements for credit risk, revoking Official Multiple Letter No. 27358-2021-SBS and Emergency Decree No. 003-2022. As of December 31, 2023 and 2022, in application of the provisions of the SBS Resolutions, Interbank maintains the following amounts related to the risk weighted assets and contingent and regulatory capital (basic and supplementary): 2023 2022 S/(000) S/(000) Total risk weighted assets and credits 63,494,884 64,690,083 Total regulatory capital 9,811,486 9,754,806 Basic regulatory capital (Level 1) 7,461,727 7,016,417 Supplementary regulatory capital (Level 2) 2,349,759 2,738,389 Global capital to regulatory capital ratio 15.45 % 15.08 % As of December 31, 2023 and 2022, Interbank has complied with SBS Resolutions No.2115-2009, No.6328-2009, No.14354-2009, No.4128-2014, “Regulations for the Regulatory Capital Requirement for Operational Risk”, “Market Risk” and “Credit Risk”, respectively, and their amendments. These resolutions establish, mainly, the methodologies to be applied by financial entities to calculate the assets and credits weighted per type of risk. SBS Resolution No. 3953-2022 establishes the calculation of the regulatory capital requirement for additional risks, which shall be equal to the sum of the regulatory capital requirements for concentration risk plus the regulatory capital requirements of interest rate risk in the banking book, thus revoking SBS Resolution No. 8425-2011. Also, it establishes an adaptation period until December 2023. As of December 31, 2023, the regulatory capital requirement for additional risks is approximately S/594,256,000. Previously, Resolution No. 8425-2011 was in force and, in application of said standard, established the calculation of the additional regulatory capital requirement as the sum of the regulatory capital requirements calculated for each of the following components: economic cycle, concentration risk, market concentration risk, interest rate risk in the banking book and other risks. As of December 31, 2022, the additional regulatory capital requirement estimated by Interbank amounted to approximately On March 26, 2020, the SBS issued SBS Resolution No. 1264-2020, which establishes that the calculation of regulatory capital requirements will not be increased in relation the weighting factor for mortgage loans and non-revolving consumer loans that have been subject to rescheduling that included the maturity term extension. In that sense, this extension in the loan’s maturity term has not generated that Interbank require higher regulatory capital requirements due to the weighting factor. Also, said Resolution authorizes financial entities to use the cumulative additional regulatory capital for the economic cycle component. Interseguro’s regulatory capital - In accordance with SBS Resolution No. 1124-2006, and its amendments, Interseguro is required to maintain a level of regulatory capital to maintain a minimum equity to support technical risks and other risks that could affect it. The regulatory capital must be higher than the amount resulting from the sum of the solvency net equity, the guarantee fund and the regulatory capital intended to cover credit risks. The solvency net equity is represented by the higher amount between the solvency margin and the minimal capital. As of December 31, 2023 and 2022, the solvency net equity is represented by the solvency margin. The solvency margin is the complementary support that insurance entities must maintain to deal with possible situations of excess claims not foreseen in the establishment of technical reserves. The total solvency margin corresponds to the sum of the solvency margins of each branch in which Interseguro operates. Also, the guarantee fund represents the additional equity support that insurance companies must maintain to deal with the other risks that can affect them and that are not covered by the solvency net equity, such as of As of December 31, 2023 and 2022, Interseguro’s surplus equity is as follows: 2023 2022 S/(000) S/(000) Regulatory capital 1,370,151 1,338,237 Less Solvency equity (solvency margin) 698,409 714,875 Guarantee fund 455,253 250,207 Surplus 216,489 373,155 Inteligo Bank’s regulatory capital - The Central Bank of the Bahamas requires Inteligo Bank to maintain a regulatory capital of not less than 8 percent of its risk weighted assets. Inteligo Bank’s capital ratio As of December 31, 2023 and 2022 is the following: 2023 2022 US$(000) US$(000) Total eligible capital 137,460 195,806 Total risk weighted assets 792,352 959,241 Capital adequacy ratio (in percentage) 17.35 20.41 In Management’s opinion, its Subsidiaries have complied with the requirements set forth by the regulatory entities. (g) Reserves - The General Shareholders’ Meeting of IFS held on March 31, 2022, agreed to constitute reserves for S/800,000,000 charged to retained earnings. (h) Subsidiaries’ legal and special reserves – In accordance with Peruvian regulations, the Subsidiaries domiciled in Peru are required to establish a reserve equivalent to a certain percentage of their paid-in capital (20 or 35 percent, depending on their economic activity) through annual transfers of not less than 10 percent of their net income. As of December 31, 2023 and 2022, the reserves constituted by the Peruvian subsidiaries amounted to S/1,670,500,000 and S/1,545,471,000, respectively. |
Tax situation
Tax situation | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of Tax situation [Abstract] | |
Tax situation | 17. Tax situation (a) IFS and its Subsidiaries are incorporated and domiciled in the Republic of Panama and the Commonwealth of the Bahamas (see Note 2), and are not subject to any Income Tax, or any other taxes on capital gains, equity or property. The Subsidiaries incorporated and domiciled in Peru (see Note 2) are subject to the Peruvian Tax legislation; see paragraph (c). Peruvian life insurance companies are exempt from Income Tax regarding the income derived from assets linked to technical reserves for pension insurance and pensions from the Private Pension Fund Administration System, as well as income generated through assets related to life insurance contracts with savings components. In Peru, all income from Peruvian sources obtained from the direct or indirect sale of shares of stock capital representing participation of legal persons domiciled in the country are subject to income tax. For that purpose, an indirect sale shall be considered to have occurred when shares of stock or ownership interests of a legal entity are sold and this legal entity is not domiciled in the country and, in turn, is the holder — whether directly or through other legal entity or entities — of shares of stock or ownership interests of one or more legal entities domiciled in the country, provided that certain conditions established by law occur. In this sense, the Act states that an assumption of indirect transfer of shares arises when in any of the 12 months prior to disposal, the market value of shares or participations of the legal person domiciled is equivalent to 50 percent or more of the market value of shares or participations of the legal person non-domiciled. Additionally, as a concurrent condition, it is established that in any period of 12 months shares or participations representing 10 percent or more of the capital of legal persons non-domiciled be disposed of Also, an indirect disposal assumption arises when the total amount of the shares of the domiciled legal person whose indirect disposal is performed, is equal or greater than 40,000 Taxation Units (henceforth “UIT”, by its Spanish acronym). (b) Legal entities or individuals not domiciled in Peru are subject to an additional tax (equivalent to 5 percent) on dividends received from entities domiciled in Peru. The corresponding tax is withheld by the entity that distributes the dividends. In this regard, since IFS controls the entities that distribute the dividends, it records the amount of Income Tax on dividends as an expense for the financial year of the dividends received. In this sense, during 2023, 2022 and 2021, the Company has recorded a provision (c) IFS’s Subsidiaries incorporated in Peru are subject to the payment of Peruvian taxes; hence, they must calculate their tax expenses on the basis of their separate financial statements. The Income Tax rate as of December 31, 2023, 2022 and 2021, was 29.5 percent, over the taxable income. (d) The Tax Authority (henceforth “SUNAT”, by its Spanish acronym) is legally entitled to perform tax audit procedures for up to four years subsequent to the date at which the tax return regarding a taxable period must be filed. Below are the taxable periods subject to inspection by the SUNAT as of December 31, 2023: • Interbank: Income Tax returns for the years 2020 to 2023, and Value-Added-Tax returns for the years 2018 to 2023. • Interseguro: Income Tax returns for the years 2019, 2021 ,2022 and 2023, and Value-Added-Tax returns for the years 2019 to 2023. • Procesos de Medios • Izipay: Income Tax returns and Value-Added-Tax returns for the years 2019 to 2023. Due to the possible interpretations that the SUNAT may have on the legislation in force, it is not possible to determine at this date whether or not the reviews carried out will result in liabilities for the Subsidiaries; therefore, any higher tax or surcharge that may result from possible tax reviews would be applied to the results of the year in which it is determined. Following is the description of the main ongoing tax procedures for the Subsidiaries: Interbank: Tax periods from 2000 to 2006: Between 2004 and 2010, Interbank received several Tax Determination and Tax Penalty notices corresponding mainly to the Income Tax determination for the fiscal years 2000 to 2006. As a result, claims and appeals were filed and subsequent contentious administrative proceedings were started. The most relevant matter subject to discrepancy with SUNAT corresponds to whether the “interest in suspense” are subject to Income Tax or not. In this sense, Interbank considers that the interest in suspense does not constitute accrued income, in accordance with the SBS’s regulations and IFRS, which is also supported by a ruling by the Permanent Constitutional and Social Law Chamber of the Supreme Court issued in August 2009 and a pronouncement in June 2019. In June and September 2022, the Permanent Constitutional and Social Law Chamber of the Supreme Court declared unfounded the cassation appeals by SUNAT and the Ministry of Economy and Finance, thus reaffirming the position of Interbank in the sense that interest in suspense does not constitute taxable income, both in the 2001 Income Tax and in the 2004 Income Tax. In January 2023, Interbank was notified with Resolution of Compliance No. 4070150000145, which rectified and resettled the debt contained in Resolutions of Determination No. 0120030012106 and No. 0120030012107 related to advance payments of the Income Tax for the period 2003, without any amount to pay. In March 2023, Interbank was notified with Resolution of Compliance No. 4070150000186 regarding Income Tax for the period 2003, which Interbank filed the respective Appeal Recourse against Resolution of Compliance No. 4070150000186. In September 2023, Interbank was notified with Tax Court Resolution No. 07915-4-2023, which revokes Resolution No. 4070150000186, dated March 2023, in relation to the updating of the debt contained in Resolution of Penalty No. 012-002-0011622. Thus, SUNAT must proceed according to what said Resolution mandates, and confirm its content. In October 2023, Interbank was notified with Resolution of Compliance No. 4070150000348, and filed a claim recourse that is pending resolution by the Tax Court. As of December 31, 2023 the tax liability requested for this concept and other minor contingencies, amounts to approximately S/124,000,000 which includes the tax, fines and interest arrears, out of which S/59,000,000 corresponded to interest in suspense and S/65,000,000 corresponded to other repairs. As of December 31, 2022, the tax liability amounted to S/290,000,000 and includes taxes, fines, and interest arrears. In February 2023, Interbank was notified with the Tax Court Resolution No. 00227-2-2023, which declared null the Resolution of Intendence No. 0150150002380, of May 2020, in relation to the payments of the Income Tax for the period 2004 in the part referring to interest in suspense and related penalties. In April 2023, Interbank was notified with Resolution No. 4070150000211, issued in compliance with Resolution No. 00227-2-2023, through which it rectified the determination of payments on account of Income Tax for the year 2004. Interbank presented the respective Appeal, which is pending resolution by the Tax Court. In August 2023, the Cassation Ruling No. 1035-2022 Lima was published, which resolves the claim filed by SUNAT regarding the Income Tax for the period 2004, with judgment favorable for Interbank. In May 2020, Interbank was notified with the Resolution of Compliance related to the Income Tax and advance payments of the Income Tax for the year 2005 (linked to the interest in suspense). Through said notification, SUNAT increased the requested tax debt from S/1,000,000 to S/35,000,000 because , were rejected In December 2022, the Tax Court notified of Resolution No. 09431-9-2022, through which it revoked interest in suspense, financial pro-rata, advance payments and fines. As of today, Interbank is awaiting the Resolution of Compliance. In October 2023, Interbank was notified with Resolution No. 4070150000358, issued in compliance with Tax Court Resolution No. 09431-9-2022. In November 2023, the respective Appeal was presented, which is pending resolution by the Tax Court. In December 2023, Interbank was notified with Resolution No. 4070150000379, issued in compliance with Tax Court Resolution No. 09431-9-2022, and presented the respective Appeal, which is pending resolution by the Tax Court. In February 2021, Interbank was notified with the Resolution of Compliance related to the Income Tax and prepaid income tax of the year 2006 (related to litigations about interest in suspense). Through said notification, SUNAT rejected an excess payment of S/3,500,000 and determined a tax debt of S/23,000,000. In December 2022, the Tax Court notified of Resolution No. 09451-1-2022, through which it revoked interest in suspense, advance payments coefficient and fines. As of today, Interbank is awaiting the Resolution of Compliance. Tax period 2010: In 2017, SUNAT closed the audit procedure corresponding to the Income Tax for the year 2010. Interbank paid the debt under protest and filed a claim recourse. As of today, the procedure has been appealed and it is pending resolution by the Tax Court. Tax period 2012: In July 2020, Interbank was notified of the Determination and Penalty Resolutions corresponding to the audit of the Income Tax for the fiscal year 2012. As of December 31, 2023 and 2022, the tax debt claimed by the SUNAT amounted to S/14,400,000 and S/14,000,000, respectively. During 2021 and 2022, Interbank filed diverse Appeal Recourses. SUNAT rejected all these recourses. As of the date of this report, the process is on appeal, pending resolution by the Tax Court. Tax period 2013: In 2019, Interbank was notified of the Determination and Penalty Resolutions corresponding to the audit of the Income Tax for the fiscal year 2013.The main concept observed corresponded to the deduction of loan write-offs without proof by the SBS. During 2021, Interbank filed a claim against the Resolution of the Tax Court. This authority confirmed, revoked, and ordered to resettle the aforementioned concepts. At the end of 2022, the Tax Court reconfirmed its ruling in the aforementioned Resolution. In December 2022, the SUNAT through Resolution of Coactive Collection No. 0110060065138, notified of the payment of the third-category Income Tax debt corresponding to the period 2013, for approximately which was paid by Interbank on February 2, 2023; however, the process continues in the Judiciary instance. Interbank recorded this payment as account receivable from SUNAT, that was recorded as “Tax paid to recover”, in the caption “Other accounts receivable and other assets, net”; see Note 10(a). Tax periods 2014 and 2015: In September and December 2019, SUNAT notified Interbank about the beginning of the definitive audit procedure on Income Tax corresponding to the year 2014 and 2015, respectively. During 2021 and 2022, Interbank filed diverse Appeal Recourses. SUNAT rejected all these recourses. As of December 31, 2023 and 2022, the tax debt requested in relation to the Income Tax advance payments for the period 2015 , Tax period 2017: In December 2021, SUNAT notified Interbank about the beginning of the definitive audit procedure on Income Tax corresponding to the year 2017. In October 2022, SUNAT notified of Resolutions of Determination No. 0120030127896 and No. 0120030127908, issued regarding the third-category Income Tax corresponding to the period 2017 and Income Tax advance payments from January to December 2017, without additional amounts to pay related to the third-category Income Tax; however, in November 2022, Interbank filed a claim recourse on other minor concepts, observed by the SUNAT. In June 2023, Interbank was notified with the Resolution No. 4070140000600 declaring the claim recourse unfounded. In July 2023, Interbank filed the respective Appeal against said Resolution, which is pending of pronouncement by the Tax Court. Tax period 2018: In April 2019, SUNAT notified of the start of the final audit process for non-domiciled income tax withholdings corresponding to the year 2018. In November 2023, SUNAT notified Interbank with Resolution of Determination No. 012-003-0135114, issued regarding the third-category annual Income Tax for the period 2018, Resolutions of Determination No. 012-003-0135102 to No. 012-003-0135113, issued regarding advance payments from January to December 2018 and resolutions of Penalty issued regarding an alleged infringement of Article 178.1 of the Tax Code for the tax and period indicated. The tax debt claimed by SUNAT amounts to S/74,000,000. In December 2023, the respective claim recourse was filed. To date, said recourse is pending resolution by SUNAT . Interseguro: In October 2023, SUNAT completed the fiscalization procedure regarding the Income Tax corresponding to the year 2020, without additional observations. Izipay: As of December 31, 2023 and 2022, Izipay maintains carryforward tax losses amounting to S/71,552,053 and S/82,931,174, respectively. In application of current tax regulations, Management opted for system “B” to offset its tax losses. Through this system, the tax loss may be offset against the net income obtained in the following years, up to 50 percent of said income until they are extinguished; therefore, they do not have an expiration date. In the opinion of IFS Management, its Subsidiaries and its legal advisers, any eventual additional tax would not be significant for the financial statements as of December 31, 2023 and 2022. (e) Peruvian life insurance companies are exempted from the Income Tax on income from assets related to technical reserves for the payment of annuities and retirement, disability and survival annuities of the Private Pension Fund Administration System. (f) For the purpose of determining the Income Tax, the transfer prices of transactions with related companies and with companies domiciled in countries or territories that are non-cooperating or low or zero tax countries or territories, or with entities or permanent establishments whose income, revenues or gains from said contracts are subject to a preferential tax regime, must be supported by documented information on the valuation methods used and the criteria considered for their determination. On the basis of the analysis of the operations of the Group, Management and its internal legal advisors believe that, as a consequence of the application of these standards, contingencies of importance will not arise for the Subsidiaries domiciled in Peru as of December 31, 2023 and 2022. Through Legislative Decree No. 1312, published on December 31, 2016, the formal obligations for entities included within the scope of application of transfer pricing were modified, thus incorporating three new information requirements: the first is a Local Report; the second is a Master Report; and the third is a Country Report. The first entered into effect since 2017 for the operations that occurred during year 2016 and the last two since 2018 for the operations that have occurred since the fiscal year 2017. (g) Through Legislative Decree No.1381, published on August 24, 2018, it was incorporated in the Income Tax Act the concept of “non-cooperating” countries or territories and preferential tax regimes to which defensive measures already existing for countries and territories with low or zero taxation are imposed. (h) In July 2018, Act No. 30823 was published, whereby the Congress delegated power to the Executive Branch to legislate on various issues, including tax and financial matters. In this sense, the main tax regulations issued are the following: (i) Beginning on January 1, 2019, the treatment applicable to royalties and remuneration for services rendered by non-domiciled persons was modified, eliminating the obligation to pay the amount equivalent to the withholding due to the accounting record of the cost or expense. Now the Income Tax is withheld at the payment of the compensation. For said cost or expense to be deductible for the local company, the remuneration must have been paid to the filing date of the annual tax return for the Income Tax (Legislative Decree No. 1369). (ii) The rules that regulate the obligation of legal persons and/or legal entities to inform the identification of their final beneficiaries (Legislative Decree No. 1372) were established. These rules are applicable to legal entities domiciled in the country, in accordance with the provisions of Article 7 of the Income Tax Act, and legal entities established in the country. The obligation covers non-domiciled legal entities and legal entities established abroad, provided that: a) they have a branch, agency or other permanent establishment in the country; b) the natural or juridical person who manages the autonomous patrimony or the investment funds from abroad, or the natural or legal person who has the status of trustee or administrator, is domiciled in the country; and c) any of the members of a consortium is domiciled in the country. This obligation will be fulfilled through the presentation to SUNAT of an informative Sworn Statement, which must contain the information of the final beneficiary and be submitted, in accordance with the regulations and within the deadlines established by SUNAT. (iii) The Tax Code was amended with the purpose of offering taxpayers more assurance regarding the application of the general anti-avoidance rule (Rule XVI of the Preliminary Title of the Tax Code), as well as to provide SUNAT with tools for its effective implementation (Legislative Decree No.1422). As part of this amendment, a new assumption of joint and several liability is envisaged when the tax debtor is subject to the application of the measures provided by Rule XVI in the event that presumed tax avoidance cases are detected; in such case, the joint and several liability shall be attributed to the legal representatives, provided that they have collaborated with the design or approval or execution of actions or situations or economic relations viewed as tax avoidance in Rule XVI. In the case of companies that have a Board of Directors, it is up to this corporate body to define the tax strategy of the entity, having to decide on the approval or not of actions, situations or economic relations to be carried out within the framework of tax planning, this power being non-delegable. The actions, situations and economic relations carried out within the framework of tax planning and implemented on the date of entry into force of Legislative Decree No. 1422 (September 14, 2018), and which continue to have effect, must be evaluated by the Board of Directors of the entity for the purpose of ratification or modification until March 29, 2019, without prejudice to the fact that the management or other managers of the company have approved the aforementioned actions, situations and economic relations. Likewise, it has been established that the application of Rule XVI, regarding the re-characterization of tax avoidance assumptions, will take place in the final inspection procedures in which acts, events or situations produced since July 19, 2012, are reviewed. (iv) Amendments to the Income Tax Act were included, effective as of January 1, 2019, to improve the tax treatment applicable to the following (Legislative Decree No. 1424): • Income obtained from the indirect transfer of shares of stock or capital representing participations of legal persons domiciled in the country. Among the most significant changes is the inclusion of a new indirect sale assumption, which is triggered when the total amount of the shares of the domiciled legal entity whose indirect disposal is made is equal to or higher than 40,000 UITs. • Permanent establishments of sole proprietorships, companies and entities of any nature incorporated abroad. For this purpose, new cases of permanent establishment have been included, among them, when the rendering of services in the country occurs, with respect to the same project, service or related one, for a period that exceeds 183 calendar days in total within any period of twelve months. • The system of credits against Income Tax for taxes paid abroad, to be included in the indirect tax credit (corporate tax paid by foreign subsidiaries) as credit applicable against the Income Tax of domiciled legal persons, to avoid double economic taxation. • The deduction of interest expenses for the determination of corporate Income Tax. In the years 2019 and 2020, if is , it and • Supreme Decree No. 402-2021-EF, published on December 30, 2021, and in effect since December 31, 2021, modified the Regulation of the Income Tax Act that regulates the calculation of the taxable EBITDA regarding the limit of debt interest. (v) Regulations have been established for the accrual of income and expenses for tax purposes beginning on January 1, 2019 (Legislative Decree No. 1425). Until year 2018, there was no rule definition of this concept, so in many cases accounting rules were used for its interpretation. In general terms, with the new criterion, for the purpose of determining the Income Tax, it shall be considered whether the substantial events for the generation of income or expense agreed upon by the parties have occurred, provided they are not subject to a subsequent condition, in which case the recognition shall take place when it is fulfilled and when collection or payment is to take place will not be taken into account; and, if the determination of the consideration depends on a future action or event, the total or part of the corresponding income or expense will be deferred until that action or event occurs. (i) Supreme Decree No. 430-2020-EF, published on December 31, 2020, approved the Regulation that establishes the financial information that companies of the financial system must provide to SUNAT in the fight against tax evasion and avoidance pursuant to Legislative Decree No. 1434. Such Regulation entered into force on January 1, 2021. Considering that, said Regulation established the concepts that the financial entities must report to SUNAT, which are, among others, cumulative balances and/or amounts, averages or highest amounts and the returns generated in the accounts during the reporting period are equal or higher than (j) Law No. 31106 extends until December 31, 2023, the validity of all exemptions in force to date contained in Article 19 of the Income Tax Act. On this matter, among the extended exemptions that are applicable or related to Interbank’s operations, is the subparagraph (i) of Article 19 which indicates that any type of fixed or variable interest rate, in local or foreign currency, that is paid for any deposit or levy pursuant to Law Banking and Insurance, Law No. 26702, as well as the capital increases of said deposits and levies, in local or foreign currency, except when said income constitutes third category income, shall be exempted. (k) Legislative Decree No. 1529 was published on March 3, 2022, amending the Bankarization Act in order to promote the use of payment means and reduce the minimum amount for the use of payment means, according to the following: • The minimum amount for the use of Payment Means is two thousand Soles (S/2,000) or five hundred American Dollars (US$500). • With the purpose of improving the coverage of payment methods and thus broaden the range of traceable operations, Article 3 of the Bankarization Act was amended in order to point out that payment of amounts of money in operations included in said article, for amounts equivalent or higher than 1 UIT, even when the payment is performed partially, can only be performed by using payment methods contemplated by said Act. • The payment of obligations to non-domiciled natural and/or legal persons that must be performed through payment methods contemplated by said Act must be performed through either the Financial System Entities (“FSE”), or non-domiciled banking or finance companies, in the cases that the subject performs foreign trade operations, including the obligations derived from the acquisition of property and rights related to the holding of shares and other transferable securities. • The use of payment methods is deemed complied with only if the payment is performed directly to the lender, supplier and/or service provider, or when said payment is made to a third party designated by the former, provided that such designation is informed to SUNAT prior to the Payment. • In no case is the obligation to use payment methods pursuant to the Act deemed complied with when the payments are performed through banking or finance companies domiciled in either non-cooperating countries or territories, with low or zero taxation, or permanent establishments (PE) in said countries or territories. The legislation entered into effect on April 1, 2022, except for the amendment referring to the payment of non-domiciled FSEs located in low or zero taxation territories, which was set to enter into effect on January 1, 2023. (l) Supreme Decree No. 137-2023-EF, published on June 29, 2023, amends Article 30 of the Regulation of the Income Tax Act, which regulates the tax rates applicable to operations with non-domiciled parties. The amendment updates the use of the SOFR rate as the predominant preferential rate for the purpose of applying the reduced tax rate of 4.99 percent. Said supreme decree entered into effect on June 30, 2023. |
Off-balance sheet accounts
Off-balance sheet accounts | 12 Months Ended |
Dec. 31, 2023 | |
Off Balance Sheet Accounts [Abstract] | |
Off-balance sheet accounts | 18. Off-balance sheet accounts (a) The table below presents the components of this caption: 2023 2022 S/(000) S/(000) Contingent credits - indirect loans (b), Note 6(a) Guarantees and stand-by letters 4,302,772 4,001,806 Import and export letters of credit 440,708 485,541 4,743,480 4,487,347 Derivatives Held for trading: Note 10(b) Forward foreign currency agreements, see Note 29.2(b)(i): Forward currency agreements – purchase 1,811,147 1,977,324 Forward currency agreements – sale 2,316,809 4,057,830 Forward foreign currency agreements in other currencies 747,736 292,906 Foreign currency options 279,047 80,151 Swap agreements, see Note 29.2(b)(ii): Currency swaps: Foreign currency delivery / receipt in Soles 283,648 644,019 2023 2022 S/(000) S/(000) Currency swaps: Soles delivery / receipt in foreign currency 1,087,151 2,028,514 Cross currency swaps — 224,485 Interest rate swaps 1,530,493 2,424,566 Designated as hedges: Note 10(b) Cash flows: Cross currency swaps 2,578,515 2,579,164 10,634,546 14,308,959 Responsibilities for credit lines granted (cancellable) (c) 11,295,837 13,213,024 Responsibilities for credit lines – commercial and others (d) 2,015,304 1,545,698 Total 28,689,167 33,555,028 (b) In the normal course of its operations, the Group performs contingent operations (indirect loans). These transactions expose the Group to additional credit risks to the amounts recognized in the consolidated statement of financial position. The Group applies the same credit policies for granting and evaluating the provisions required for direct loans when performing contingent operations (see Note 6(a)), including obtaining guarantees when deemed necessary. Guarantees vary and include deposits in financial institutions or other assets. Taking into account that most of the contingent operations are expected to expire without the Group having to disburse cash, the total committed amounts do not necessarily represent future cash requirements. (c) Responsibilities under credit lines agreements include consumer credit lines and other consumer loans that are cancellable by the Interbank. (d) Corresponds to commitments of disbursement of future loans that Interbank has committed to carry out; provided that the borrower complies with the obligations under the corresponding loan agreements, however, they may be cancelled by Interbank. |
Interest income and expenses, a
Interest income and expenses, and similar accounts | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of Interest income and expenses and similar accounts [Abstract] | |
Interest income and expenses, and similar accounts | 19. Interest income and expenses, and similar accounts (a) This caption is comprised of the following: 2023 2022 2021 S/(000) S/(000) S/(000) Interest and similar income Interest on loan portfolio 5,353,991 4,207,420 3,274,402 Impact from the modification of contractual cash flows due to the loan rescheduling schemes (*) (29,404 ) 41,110 120,193 Interest on investments at fair value through other comprehensive income 1,208,823 1,202,788 928,660 2023 2022 2021 S/(000) S/(000) S/(000) Interest on due from banks and inter-bank funds 367,167 175,401 46,273 Interest on investments at amortized cost 172,602 161,966 130,326 Dividends on financial instruments, Note 5(e) and (f) 42,779 78,928 101,736 Others 4,453 3,689 4,035 Total 7,120,411 5,871,302 4,605,625 Interest and similar expenses Interest and fees on deposits and obligations (1,662,139 ) (863,335 ) (334,212 ) Interest and fees on obligations with financial institutions (474,362 ) (234,842 ) (156,490 ) Interest on bonds, notes and other obligations (311,665 ) (418,821 ) (433,774 ) Deposit insurance fund fees (81,171 ) (77,920 ) (70,670 ) Interest on lease payments, Note 8(e) (5,562 ) (9,283 ) (14,004 ) Others (57,467 ) (57,488 ) (48,787 ) Total (2,592,366 ) (1,661,689 ) (1,057,937 ) (*) For rescheduled loans, Interbank recalculated the carrying amount of these financial assets as the present value of the modified contractual cash flows, discounted at the loan’s original effective interest rate. During 2023, 2022 and 2021, interest was the (b) The amounts shown in paragraph (a) above, include interest income and expenses calculated using the effective interest rate (EIR), which are related to the following items: 2023 2022 2021 S/(000) S/(000) S/(000) Financial assets measured at amortized cost 5,864,356 4,585,897 3,571,194 Financial assets measured at fair value through other comprehensive income 1,208,823 1,202,788 928,660 Total interest from financial assets calculated at EIR 7,073,179 5,788,685 4,499,854 Financial liabilities measured at amortized cost 2,453,728 1,526,281 938,480 |
Fee income from financial servi
Fee income from financial services, net | 12 Months Ended |
Dec. 31, 2023 | |
Text Block [Abstract] | |
Fee income from financial services, net | 20. Fee income from financial services, net (a) For the years ended December 31, 2023, 2022 and 2021, this caption is comprised of the following: 2023 2022 2021 S/(000) S/(000) S/(000) Income Performance obligations at a point in time: Accounts maintenance, carriage, transfers, and debit and credit card fees 747,568 705,188 562,542 Income from services (acquirer and issuer role) (b) 738,177 523,313 — Banking service fees 208,420 248,175 249,843 Brokerage and custody services (c) 5,811 5,836 8,457 Others 36,393 34,438 — Performance obligations over time: Funds management 137,137 153,948 184,703 Contingent loans fees 68,355 70,038 64,964 Collection services 60,648 60,931 52,955 Commission for loans rescheduling “Reactiva Peru” program 9,343 16,909 23,722 Others 19,414 23,259 37,293 Total (d) 2,031,266 1,842,035 1,184,479 Expenses 2023 2022 2021 S/(000) S/(000) S/(000) Expenses for services (acquirer and issuer role) (b) (339,846 ) (238,997 ) — Credit cards (199,464 ) (164,722 ) (128,580 ) Commissions Mastercard - Visa (85,741 ) (56,845 ) — Credit life insurance premiums (71,796 ) (97,378 ) (102,844 ) Local banks fees (58,956 ) (50,192 ) (36,836 ) Foreign banks fees (26,285 ) (24,920 ) (31,767 ) Commission for loans rescheduling “Reactiva Peru” program (12,930 ) (22,373 ) (26,215 ) Registry expenses (1,466 ) (2,046 ) (3,009 ) Brokerage and custody services (c) (675 ) (961 ) (824 ) Others (55,645 ) (46,215 ) (30,596 ) Total (852,804 ) (704,649 ) (360,671 ) Net 1,178,462 1,137,386 823,808 (b) Corresponds to the management and operation of the shared service of transaction processing of credit and debit cards, for clients of Izipay since April 2022, the month in which Izipay became a Subsidiary of IFS. (c) As of December 31, 2023, 2022 and 2021, the Group has recognized net income for transactions carried out on behalf of its clients amounting to S/5,136,000, S/4,875,000 and S/7,633,000, respectively. (d) Fee income by geographic distribution for the years ended December 31, 2023, 2022 and 2021 is presented below: 2023 2022 2021 S/(000) S/(000) S/(000) Country Peru 1,931,303 1,720,865 1,046,471 Panama 99,963 121,170 138,008 Total 2,031,266 1,842,035 1,184,479 |
Other income and (expenses)
Other income and (expenses) | 12 Months Ended |
Dec. 31, 2023 | |
Profit (loss) [abstract] | |
Other income and (expenses) | 21. Other income and (expenses) (a) This caption is comprised of the following: 2023 2022 2021 S/(000) S/(000) S/(000) Other income Maintenance, installation and sale of POS equipment 28,743 22,000 — Gain from sale of written-off-loans (c) 18,770 19,177 11,848 Gain on sale of property, furniture and equipment, Note 8(d) 15,300 11,780 — Other technical income from insurance operations 10,163 6,489 8,115 Services rendered to third parties 7,512 7,611 6,836 Income from ATM rentals 5,365 6,459 4,944 Gain from refunds and penalties — 18,783 — Income from investments in associates (b) — 18,692 33,378 Fair value adjustment of the participation held by Interbank in Izipay, Note 1(d) — 222,513 — Others 70,847 66,677 24,377 Total other income 156,700 400,181 89,498 Other expenses Commissions from insurance activities (42,400 ) (90,168 ) (37,920 ) Administrative and tax penalties (20,198 ) (7,317 ) (2,672 ) Provision for accounts receivable (13,847 ) (5,684 ) (1,123 ) Cost of sale of POS equipment (12,819 ) (27,366 ) — Sundry technical insurance expenses (10,066 ) (11,048 ) (65,757 ) Expenses related to rental income (5,814 ) (7,521 ) (4,026 ) Donations (4,529 ) (4,712 ) (4,991 ) Provision for sundry risk (4,138 ) (12,661 ) (14,872 ) Write-off of intangibles, Note 9(a) (3,455 ) (6,266 ) (10,371 ) Others (*) (67,726 ) (67,901 ) (68,460 ) Total other expenses (184,992 ) (240,644 ) (210,192 ) (*) During the years 2023 and 2022, corresponds mainly to expenses for operational write-offs and technological failures, among other minor expenses. During 2021, corresponds mainly to non-recurring expenses derived from the Covid-19 pandemic (implementation of safety protocols and remote working, among others). (b) As of December 31, 2022, includes S/5,033,000 corresponding to the participation that Interbank held in Izipay until the date of its acquisition, see Note 1(d). (c) During the years 2023, 2022 and 2021, Interbank sold written-off loan portfolios, in cash and to non-related third parties. The nominal value of the credits sold amounted to S/1,300,296,000, S/973,966,000 and S/501,540,000, respectively. |
Result from insurance activitie
Result from insurance activities, before expenses | 12 Months Ended |
Dec. 31, 2023 | |
Text Block [Abstract] | |
Result from insurance activities, before expenses | 22. Result from insurance activities, before expenses (a) This caption is comprised of the following: 2023 2022 General insurance Pensions Life Total General insurance Pensions Life Total S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Insurance service income - Contracts measured under BBA and VFA (*): CSM recognized for services rendered 49,191 3,609 27,978 80,778 43,496 1,945 25,320 70,761 Change in risk adjustment for non-financial risk 1,476 255 (1,850 ) (119 ) 1,562 (828 ) 2,014 2,748 Insurance service expenses and expected claims incurred 69,145 273,396 62,348 404,889 76,567 266,433 42,398 385,398 Recovery of cash for insurance acquisition 3,489 273 6,613 10,375 1,159 121 2,078 3,358 Contracts measured under PAA: Premiums assigned to the period 220,616 — 4,097 224,713 208,446 — 6,464 214,910 343,917 277,533 99,186 720,636 331,230 267,671 78,274 677,175 Insurance service expenses - Claims incurred expenses and other expenses (108,805 ) (798,733 ) (114,753 ) (1,022,291 ) (118,621 ) (813,703 ) (92,950 ) (1,025,274 ) Onerous contract losses and loss reversion 38,101 (37,190 ) 11,636 12,547 5,872 (174,608 ) 5,854 (162,882 ) Amortization of insurance acquisition cash flows (120,123 ) (273 ) (6,613 ) (127,009 ) (116,088 ) (121 ) (2,078 ) (118,287 ) Changes to liabilities for incurred claims (58,030 ) 477,027 64,182 483,179 11,757 521,781 49,033 582,571 (248,857 ) (359,169 ) (45,548 ) (653,574 ) (217,080 ) (466,651 ) (40,141 ) (723,872 ) Insurance service results 95,060 (81,636 ) 53,638 67,062 114,150 (198,980 ) 38,133 (46,697 ) Reinsurance income — — — (6,889 ) — — — (16,417 ) Financial result of insurance operations (b) — (542,361 ) (30,806 ) (573,167 ) — (522,725 ) 19,338 (503,387 ) Result from insurance activities (**) 95,060 (623,997 ) 22,832 (512,994 ) 114,150 (721,705 ) 57,471 (566,501 ) (*) BBA Method (Building Block Approach) and VFA Method (Variable Fee Approach). (**) Before expenses attributed to the insurance activity that are presented in the caption “Other expenses” in the consolidated statement of income, and that correspond to salaries and employee benefits, administrative expenses, depreciation and amortization and other expenses for S/334,602,000 and S/313,647,000 as of December 31, 2023 and 2022, respectively. See also financial information by segments in Note 27. (b) The composition of the financial result of insurance operations is as follows: 2023 2022 Pensions Life Total Pensions Life Total S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Financial expenses for issued insurance contracts - Changes in the obligation to pay the fair value holder of the underlying assets of direct participation agreements due to the investment’s return — (10,499 ) (10,499 ) — 27,284 27,284 Interest credited (541,468 ) (23,088 ) (564,556 ) (523,539 ) (9,526 ) (533,065 ) Changes in interest rate and other financial hypotheses (433 ) 3,257 2,824 754 1,728,374 1,729,128 Effect of changes in current estimates and in CSM adjustment rates in relation to the rates used in the initial recognition 4 (621 ) (617 ) (16 ) (1,729,032 ) (1,729,048 ) (541,897 ) (30,951 ) (572,848 ) (522,801 ) 17,100 (505,701 ) Financial income from insurance contracts - Interest credited (388 ) (1,086 ) (1,474 ) 76 72 148 Effect of changes in interest rates and other financial hypotheses (76 ) 1,130 1,054 — (1,451 ) (1,451 ) Exchange differences — — — — — — Effect of changes in current estimates and in CSM adjustment rates in relation to the rates used in the initial recognition — 101 101 — 3,617 3,617 (464 ) 145 (319 ) 76 2,238 2,314 Result from insurance activities (542,361 ) (30,806 ) (573,167 ) (522,725 ) 19,338 (503,387 ) (c) The composition of net premiums for the period 2021, according to IFRS 4, is as follows: Premiums Adjustment of Gross premiums Premiums ceded Net premiums S/(000) S/(000) S/(000) S/(000) S/(000) Life insurance Annuities (**) 614,899 (291,076 ) 323,823 — 323,823 Group life 136,743 (2,189 ) 134,554 (4,779 ) 129,775 Individual life 182,032 (76,339 ) 105,693 (5,494 ) 100,199 Retirement (disability and survival) (***) 8,418 (9,661 ) (1,243 ) (534 ) (1,777 ) Others 2 (13,595 ) (13,593 ) — (13,593 ) Total life insurance 942,094 (392,860 ) 549,234 (10,807 ) 538,427 Total general insurance 109,303 (2,405 ) 106,898 (58 ) 106,840 Total general 1,051,397 (395,265 ) 656,132 (10,865 ) 645,267 (*) It includes the annual variation of technical reserves and unearned premiums. (**) The variation in the adjustment of technical reserves is due mainly to aging over time. (***) In April 2016, the Congress of the Republic of Peru approved the amendment of the Private Pension System Act, through which the affiliates of the Pension Fund Administrators (AFPs) who turn 65 and retire can choose, among other existing retirement modalities, the return of 95.5 percent of the total fund available from their Individual Capitalization Account (“CIC”, by its Spanish acronym). During 2017, to offset the contraction of retirement income because of the aforementioned amendment to the SPP Act, Interseguro launched the products “Renta Particular Plus” and “Renta Particular Plus – Vitalicio”. During year 2021, premiums collected for “Renta Particular Plus – Vitalicio” amounted to S/57,479,000 and for “Renta Particular Plus” amounted to S/219,347,000. In 2021, retirement premiums amounted to S/3,713,000. (d) The composition of net claims and benefits incurred for life insurance contracts and others, according to IFRS 4, is as follows: Gross claims and Ceded claims and Net insurance S/(000) S/(000) S/(000) Life insurance Annuities (687,208 ) — (687,208 ) Group life (124,308 ) 11,222 (113,086 ) Individual life (37,049 ) 8,789 (28,260 ) Retirement (disability and survival) (53,089 ) 6,505 (46,584 ) Others (14,539 ) 11 (14,528 ) General insurance (27,691 ) 11 (27,680 ) (943,884 ) 26,538 (917,346 ) |
Salaries and employee benefits
Salaries and employee benefits | 12 Months Ended |
Dec. 31, 2023 | |
Expenses by nature [abstract] | |
Salaries and employee benefits | 23. Salaries and employee benefits This caption is comprised of the following: 2023 2022 2021 S/(000) S/(000) S/(000) Salaries 655,665 589,773 567,938 Vacations, health insurance and others 87,996 81,581 74,924 Social security 66,331 62,637 60,802 Severance indemnities 49,265 44,447 44,277 Workers’ profit sharing 38,018 92,042 59,441 Total 897,275 870,480 807,382 The average number of employees fo |
Administrative expenses
Administrative expenses | 12 Months Ended |
Dec. 31, 2023 | |
Profit or loss [abstract] | |
Administrative expenses | 24. Administrative expenses (a) This caption is comprised of the following: 2023 2022 2021 S/(000) S/(000) S/(000) Services received from third parties (b) 1,202,017 1,104,822 909,212 Taxes and contributions 77,202 64,008 44,452 Rental expenses (c) and Note 8(e) 9,643 10,958 11,841 Total 1,288,862 1,179,788 965,505 (b) Services received from third parties correspond mainly to computer equipment repair and maintenance services, credit card associated expenses, securities transportation services, agency rentals, advertising and public relations, customer loyalty programs, marketing on digital media, telecommunications and professional fees, among others. (c) During the years 2023, 2022 and 2021, corresponds to disbursements made for short-term leases and low value assets, see Note 3.4(k). |
Earnings per share
Earnings per share | 12 Months Ended |
Dec. 31, 2023 | |
Basic And Diluted Earning Per Share [Abstract] | |
Earnings per share | 25. Earnings per share The following table presents the calculation of the weighted average number of shares and the basic and diluted earnings per share, determined and calculated based on the earnings attributable to the Group, as described in Note 3.4(ad): Outstanding shares Shares considered Effective days Weighted average (in thousands) (in thousands) (in thousands) Year 2021 Balance as of January 1, 2021 115,423 115,423 365 115,423 Sale of treasury stock 1 1 267 1 Purchase of treasury stock (6 ) (6 ) 274 (5 ) Balance as of December 31, 2021 115,418 115,418 115,419 Net earnings attributable to IFS’s shareholders S/(000) 1,790,155 Basic and diluted earnings per share attributable to IFS’s shareholders (Soles) 15.510 Year 2022 Balance as of January 1, 2022 115,418 115,418 365 115,418 Balance as of December 31, 2022 115,418 115,418 115,418 Net earnings attributable to IFS’s shareholders-restated S/(000) 1,668,026 Basic and diluted earnings per share attributable to IFS’s shareholders (Soles) 14.452 Year 2023 Balance as of January 1, 2023 115,418 115,418 365 115,418 Sale of treasury stock 1 1 277 1 Purchase of treasury stock (939 ) (939 ) 158 (407 ) Balance as of December 31, 2023 114,480 114,480 115,012 Net earnings attributable to IFS’s shareholders S/(000) 1,072,728 Basic and diluted earnings per share attributable to IFS’s shareholders (Soles) 9.327 |
Transactions with related parti
Transactions with related parties and affiliated entities | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of transactions between related parties [abstract] | |
Transactions with related parties and affiliated entities | 26. Transactions with related parties and affiliated entities (a) The table below presents the main transactions with related parties and affiliated entities as of December 31, 2023 and 2022, and for the years ended December 31, 2023, 2022 and 2021: 2023 2022 S/(000) S/(000) Assets Instruments at fair value through profit or loss 1,165 99 Investments at fair value through other comprehensive income 64,229 58,378 Loans, net (b) 1,686,288 1,317,453 Accounts receivable 87,902 117,273 Other assets 21,260 32,043 Liabilities Deposits and obligations 1,066,505 1,040,975 Other liabilities 6,522 3,215 Off-balance sheet accounts Indirect loans (b) 76,652 89,707 2023 2022 2021 S/(000) S/(000) S/(000) Income (expenses) Interest and similar income 95,604 72,334 68,166 Rental income 25,532 31,428 30,873 Valuation of financial derivative instruments 106 149 180 Interest and similar expenses (39,749 ) (16,821 ) (3,065 ) Administrative expenses (38,711 ) (33,758 ) (44,249 ) Others, net 60,312 51,241 31,392 (b) As of December 31, 2023 and 2022, the detail of loans is the following: 2023 2022 Direct Loans Indirect Loans Total Direct Loans Indirect Loans Total S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Affiliated 1,389,463 3,557 1,393,020 1,108,276 18,832 1,127,108 Associates 296,825 73,095 369,920 209,177 70,875 280,052 1,686,288 76,652 1,762,940 1,317,453 89,707 1,407,160 (c) As of December 31, 2023 and 2022, the directors, executives and employees of the Group have been involved in credit transactions with certain subsidiaries of the Group, between the permitted limits by Peruvian law for financial entities. As of December 31, 2023 and 2022, direct loans to employees, directors and executives amounted to S/209,671,000 and S/211,715,000, respectively; said loans are repaid monthly and bear interest at market rates. There are no loans to the Group’s directors and key personnel guaranteed with shares of any Subsidiary. (d) The Group’s key personnel basic remuneration for the years ended December 31, 2023, 2022 and 2021, is presented below: 2023 2022 2021 S/(000) S/(000) S/(000) Salaries 28,325 26,964 24,768 Board of Directors’ compensations 3,151 3,923 2,861 Total 31,476 30,887 27,629 (e) As of December 2023, the Group holds participation in different mutual funds that are managed by Interfondos, which are classified as investments at fair value through profit or loss and amount to S/7,358,000. (f) In Management’s opinion, transactions with related companies have been performed under market conditions and within the limits permitted by the SBS. |
Business segments
Business segments | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of operating segments [abstract] | |
Business segments | 27. Business segments The Chief Operating Decision Maker (“CODM”) of IFS is the Chief Executive Officer (“CEO”). The Group presents four operating segments based on products and services, as follows: Banking - Mainly loans, credit facilities, deposits and current accounts. Insurance - It provides life annuity products with single-premium payment and conventional life insurance products, as well as other retail insurance products. Wealth management - It provides brokerage and investment management services. Inteligo serves mainly Peruvian citizens. Payments - It provides mainly administration services, operation and processing of credit and debit cards. Taking into account that Izipay became a subsidiary of IFS in April 2022, the results shown for this segment are considered thereafter. The operating segments monitor the operating results of their business units separately for the purpose of making decisions on the distribution of resources and performance assessment. Segment performance is evaluated based on operating profit or loss and it is measured consistently with operating profit or loss in the consolidated financial statements. Transfer prices between operating segments are on an arm’s length basis in a manner similar to transactions with third parties. No revenue from transactions with a single external customer or counterparty exceeded 10 percent of the Group’s total revenues in the years 2023, 2022 and 2021. The following table presents the Group’s financial information by business segments for the years ended December 31, 2023, 2022 and 2021: 2023 Banking Insurance Wealth management Payments Holding and consolidation adjustments Total consolidated S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Total income (*) Third party 7,812,858 1,695,222 291,408 829,766 (199,126 ) 10,430,128 Inter-segment (126,620 ) (4,975 ) (1,386 ) (13,862 ) 146,843 — Total income 7,686,238 1,690,247 290,022 815,904 (52,283 ) 10,430,128 Consolidated statement of income data Interest and similar income 6,076,020 851,648 183,926 9,255 (438 ) 7,120,411 Interest and similar expenses (2,363,800 ) (126,704 ) (98,370 ) (4,907 ) 1,415 (2,592,366 ) Net interest and similar income 3,712,220 724,944 85,556 4,348 977 4,528,045 (Loss) recovery to impairment of loans (1,981,988 ) — 170 — — (1,981,818 ) (Loss) recovery due to impairment of financial investments 15 (7,858 ) 347 — (4 ) (7,500 ) Net interest and similar income after impairment loss on loans 1,730,247 717,086 86,073 4,348 973 2,538,727 Fee income from financial services, net 813,279 (13,431 ) 146,223 345,583 (113,192 ) 1,178,462 Net (loss) gain on sale of financial investments (660 ) 9,948 (2,857 ) — — 6,431 Other income (expenses) 495,500 112,990 (37,332 ) 45,942 (65,716 ) 551,384 Result from insurance activities, before expenses — (178,379 ) — — (13 ) (178,392 ) Depreciation and amortization (271,526 ) (21,658 ) (15,018 ) (55,144 ) (15,692 ) (379,038 ) Other expenses (1,678,356 ) (352,933 ) (138,589 ) (277,578 ) 76,327 (2,371,129 ) Income (loss) before translation result and Income Tax 1,088,484 273,623 38,500 63,151 (117,313 ) 1,346,445 Exchange difference (15,969 ) 18,430 761 (2,347 ) 7,552 8,427 Income Tax (216,366 ) — (3,081 ) (27,735 ) (28,414 ) (275,596 ) Net profit (loss) for the year 856,149 292,053 36,180 33,069 (138,175 ) 1,079,276 Attributable to: IFS’s shareholders 856,149 292,053 36,180 33,069 (144,723 ) 1,072,728 Non-controlling interest — — — — 6,548 6,548 856,149 292,053 36,180 33,069 (138,175 ) 1,079,276 (*) Corresponds to interest income, net profit on the sale of financial investments, other income, income from commissions for banking services and income from insurance services. 2022 Banking (**) Insurance Wealth management Payments(***) Holding and consolidation adjustments Total consolidated S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Total income (*) Third party 6,459,232 1,663,992 75,706 595,360 138,647 8,932,937 Inter-segment (125,848 ) (3,288 ) (1,668 ) (12,548 ) 143,352 — Total income 6,333,384 1,660,704 74,038 582,812 281,999 8,932,937 Consolidated statement of income data Interest and similar income 4,774,378 940,894 155,116 1,569 (655 ) 5,871,302 Interest and similar expenses (1,476,942 ) (130,049 ) (50,306 ) (1,269 ) (3,123 ) (1,661,689 ) Net interest and similar income 3,297,436 810,845 104,810 300 (3,778 ) 4,209,613 (Loss) recovery to impairment of loans (832,919 ) — 2,368 — — (830,551 ) Loss due to impairment of financial investments (732 ) (26 ) (11,981 ) — (13 ) (12,752 ) Net interest and similar income after impairment loss on loans 2,463,785 810,819 95,197 300 (3,791 ) 3,366,310 Fee income from financial services, net 797,711 (7,160 ) 163,325 258,728 (75,218 ) 1,137,386 Net loss on sale of financial investments (2,891 ) (1,613 ) (9,781 ) — — (14,285 ) Other income 478,308 47,536 (234,702 ) 36,040 229,528 556,710 Result from insurance activities, before expenses — (252,854 ) — — — (252,854 ) Depreciation and amortization (257,210 ) (23,682 ) (15,044 ) (30,185 ) (10,105 ) (336,226 ) Other expenses (1,673,581 ) (318,528 ) (130,453 ) (202,565 ) 34,215 (2,290,912 ) Income (loss) before translation result and Income Tax 1,806,122 254,518 (131,458 ) 62,318 174,629 2,166,129 Exchange difference (22,800 ) 950 (7,146 ) 2,316 1,202 (25,478 ) Income Tax (409,201 ) — (2,791 ) (23,560 ) (26,985 ) (462,537 ) Net profit (loss) for the year 1,374,121 255,468 (141,395 ) 41,074 148,846 1,678,114 Attributable to: IFS’s shareholders 1,374,121 255,468 (141,395 ) 41,074 138,758 1,668,026 Non-controlling interest — — — — 10,088 10,088 1,374,121 255,468 (141,395 ) 41,074 148,846 1,678,114 (*) Corresponds to interest income, net profit on the sale of financial investments, other income, income from commissions for banking services and income from insurance services. (**) Includes 50 percent of Interbank’s participation in Izipay until March 2022, for the (***) As of December 31, 2022, the payments segment corresponds to the profit generated by Izipay during the nine-month period ended December 31, 2022. 2021 Banking (**) Insurance Wealth management Holding and consolidation adjustments Total consolidated S/(000) S/(000) S/(000) S/(000) S/(000) Total income (*) Third party 4,866,775 1,676,185 487,339 (49,914 ) 6,980,385 Inter-segment (99,094 ) (383 ) (3,402 ) 102,879 — Total income 4,767,681 1,675,802 483,937 52,965 6,980,385 Consolidated statement of income data Interest and similar income 3,636,810 802,961 154,328 11,526 4,605,625 Interest and similar expenses (893,060 ) (117,531 ) (39,840 ) (7,506 ) (1,057,937 ) Net interest and similar income 2,743,750 685,430 114,488 4,020 3,547,688 Impairment loss on loans (379,034 ) — (2,543 ) — (381,577 ) (Loss) recovery due to impairment of financial investments (527 ) 33,198 (1,615 ) (158 ) 30,898 Net interest and similar income after impairment loss on loans 2,364,189 718,628 110,330 3,862 3,197,009 Fee income from financial services, net 677,461 (6,802 ) 196,959 (43,810 ) 823,808 Net gain on sale of financial investments 99,938 146,797 3,623 268 250,626 Other income 452,566 87,919 132,429 (17,898 ) 655,016 Total net premiums earned minus claims and benefits — (272,037 ) — (42 ) (272,079 ) Depreciation and amortization (245,432 ) (25,035 ) (14,977 ) 5,754 (279,690 ) Other expenses (1,542,487 ) (325,242 ) (128,444 ) 13,094 (1,983,079 ) Income (loss) before translation result and Income Tax 1,806,235 324,228 299,920 (38,772 ) 2,391,611 Exchange difference 7,241 (51,493 ) (7,570 ) (37,498 ) (89,320 ) Income Tax (453,198 ) — (8,805 ) (40,109 ) (502,112 ) Net profit (loss) for the year 1,360,278 272,735 283,545 (116,379 ) 1,800,179 Attributable to: IFS’s shareholders 1,360,278 272,735 283,545 (126,403 ) 1,790,155 Non-controlling interest — — — 10,024 10,024 1,360,278 272,735 283,545 (116,379 ) 1,800,179 (*) Corresponds to interest income, net profit on the sale of financial investments, other income, income from commissions for banking services and income from insurance services. (**) Includes 50 percent of Interbank’s profit from Izipay, which were recorded in the caption “Other income”. 2023 Banking Insurance Wealth management Payments Holding and consolidation adjustments Total S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Capital investments (*) 327,513 21,184 6,430 89,646 163 444,936 Total assets 68,437,614 15,225,254 4,374,266 1,196,049 391,596 89,624,779 Total liabilities 60,380,895 14,787,105 3,453,408 946,660 48,610 79,616,678 2022 Banking Insurance Wealth management Payments Holding and Consolidation adjustments Total S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Capital investments (*) 258,887 41,599 3,443 92,133 1,004 397,066 Total assets 66,977,277 14,133,681 5,102,598 902,610 365,923 87,482,089 Total liabilities 59,498,433 13,769,222 4,208,369 686,292 (106,454 ) 78,055,862 (*) Includes the purchase of property, furniture and equipment, intangible assets and investment properties. The distribution of the Group’s total income based on the location of the customer and its assets, for the year ended December 31, 2023, is S/10,185,755,000 in Peru and S/244,373,000 in Panama (for the year ended December 31, 2022, was S/8,905,940,000 in Peru and S/26,997,000 in Panama). The distribution of the Group’s total assets based on the location of the customer and its assets as of December 31, 2023 is S/85,387,995,000 in Peru and S/4,236,784,000 in Panama (for the year ended December 31, 2022, was S/82,507,472,000 in Peru and S/4,974,617,000 in Panama). |
Financial instruments classific
Financial instruments classification | 12 Months Ended |
Dec. 31, 2023 | |
Text Block [Abstract] | |
Financial Instruments Classification | 28. Financial instruments classification The financial assets and liabilities of the consolidated statement of financial position as of December 31, 2023 and 2022 are presented below. As of December 31, 2023 At fair value through profit Debt instruments Equity instruments Amortized cost Total S/(000) S/(000) S/(000) S/(000) S/(000) Financial assets Cash and due from banks — — — 9,818,711 9,818,711 Inter-bank funds — — — 524,915 524,915 Financial investments 1,556,540 21,246,569 444,878 3,474,004 26,721,991 Loans, net — — — 46,520,382 46,520,382 Due from customers on acceptances — — — 40,565 40,565 Other accounts receivable and other assets, net 158,101 — — 1,246,480 1,404,581 Reinsurance contracts assets — — — 26,287 26,287 1,714,641 21,246,569 444,878 61,651,344 85,057,432 Financial liabilities Deposits and obligations — — — 49,188,234 49,188,234 Inter-bank funds — — — 119,712 119,712 Due to banks and correspondents — — — 9,025,930 9,025,930 Bonds, notes and other obligations — — — 5,551,629 5,551,629 Due from customers on acceptances — — — 40,565 40,565 Insurance and reinsurance contract liabilities — — — 12,207,536 12,207,536 Other accounts payable, provisions and other liabilities 145,395 — — 3,056,196 3,201,591 145,395 — — 79,189,802 79,335,197 As of December 31, 2022 At fair value through profit Debt instruments Equity instruments Amortized cost Total S/(000) S/(000) S/(000) S/(000) S/(000) Financial assets Cash and due from banks — — — 13,193,411 13,193,411 Inter-bank funds — — — 296,119 296,119 Financial investments 1,932,993 17,038,942 512,884 3,302,779 22,787,598 Loans, net — — — 45,502,998 45,502,998 Due from customers on acceptances — — — 45,809 45,809 Other accounts receivable and other assets, net 515,800 — — 919,767 1,435,567 Reinsurance contacts assets — — — 34,053 34,053 2,448,793 17,038,942 512,884 63,294,936 83,295,555 Financial liabilities Deposits and obligations — — — 48,530,708 48,530,708 Inter-bank funds — — — 30,012 30,012 Due to banks and correspondents — — — 7,100,646 7,100,646 Bonds, notes and other obligations — — — 7,906,303 7,906,303 Due from customers on acceptances — — — 45,809 45,809 Insurance and reinsurance contract liabilities — — — 11,231,321 11,231,321 Other accounts payable, provisions and other liabilities 297,038 — — 2,533,292 2,830,330 297,038 — — 77,378,091 77,675,129 |
Financial risk management
Financial risk management | 12 Months Ended |
Dec. 31, 2023 | |
Text Block [Abstract] | |
Financial risk management | 29. Financial risk management It comprises the management of the main risks, that due to the nature of their operations, IFS and its Subsidiaries are exposed to; and correspond to: credit risk, market risk, liquidity risk, insurance risk and real estate risk. • Credit risk: possibility of loss due to inability or failure to pay debtors, counterparts or third parties bound to comply with their contractual obligations. • Market risk: probability of loss in positions on and off the consolidated statement of financial position derived from variations in market conditions; generally includes the following types of risk: exchange rate, fair value by interest rate, price, among others. • Liquidity risk: possibility of loss due to noncompliance with the requirements of financing and fund application that arise from mismatches of cash flows. • Insurance risk: possibility that the actual cost of claims and payments will differ from the estimates. • Real estate risk: possibility of significant loss in rental income due to the insolvency of the lessee or, a decrease in the market value of real estate investments. To manage the risks detailed above, every Subsidiary of the Group has a specialized structure and organization in their management, measurement systems, as well as mitigation and coverage processes, according to specific regulatory needs and requirements for the development of its business. The Group and its Subsidiaries, mainly Interbank, Interseguro, Inteligo Bank and Izipay, operate independently but in coordination with the general provisions issued by the Board of Directors and Management of IFS. The Board of Directors and Management of IFS are ultimately responsible for identifying and controlling risks. The Company has an Audit Committee comprised of three independent directors, pursuant to Rule 10A-3 of the Securities Exchange Act of the United States, and one of them is a financial expert according to the regulations of the New York Stock Exchange. The Audit Committee is appointed by the Board of Directors and its main purpose is to monitor and supervise the preparation processes of financial and accounting information, as well as the audits over the financial statements of IFS and its Subsidiaries. Also, the Audit Committee is responsible for assisting the Board of Directors with monitoring and supervising, thus helping to ensure: • The quality and comprehensiveness of IFS’s financial statements, including its disclosures. • The existence of adequate procedures to assess, objectively and periodically, the effectiveness of the internal control system over the financial report. • The compliance of the legal and regulatory framework. • The qualification and independence of external auditors. • The performance of external auditors. • The implementation by Management of an adequate internal control system, particularly the internal control system over the financial report. The Company has an Internal Audit Division which is responsible for monitoring the key processes and controls to ensure an adequate low risk control according to the standards defined in the Sarbanes Oxley Act. Management is responsible for the preparation, presentation and comprehensiveness of the Group’s consolidated financial statements, the suitability of the principles and accounting policies it uses, the establishment and upkeeping of the internal control over the financial information, as well as the facilitation of communications among external auditors, IFS’s managers, Audit Committee and the Board of Directors. (a) Structure and organization of risk management - The Group’s risk management structure and organization for each of its Subsidiaries is as follows: (i) Interbank - Board of Directors Interbank’s Board of Directors is responsible for establishing appropriate and integral risk management and promoting an internal environment that facilitates its development. The Board is continuously informed about the degree of exposure of the various risks managed by Interbank. The Board has created several specialized committees to which it has delegated specific tasks to strengthen risk management and internal control. Audit Committee The Audit Committee’s main purpose is to monitor that the accounting financial reporting processes are appropriate, as well as to evaluate the activities performed by the auditors, both internal and external. The Committee is comprised of three members of the Board and the Chief Executive Officer, the Internal Auditor, the Vice-President of Corporate and Legal Affairs and other executives may also participate, when required. The Committee meets at least six times a year in ordinary sessions and informs the Board about the most relevant issues discussed. Comprehensive Risk Management Committee The Comprehensive Risk Management Committee (“GIR”, by its Spanish acronym) is responsible for approving the policies and organization for comprehensive risk management, as well as the amendments to said policies. This Committee defines the level of tolerance and the degree of exposure to risk that Interbank is willing to assume in its business and also decides on the necessary actions aimed at implementing the required corrective measures in case of deviations from the levels of tolerance to risk. The Committee is comprised of two Directors, the Chief Executive Officer and the Vice Presidents. The Committee reports monthly to the Board of Directors the main issues it has discussed and the resolutions taken in the previous meeting. Assets and Liabilities Committee The main purpose of the Assets and Liabilities Committee (“ALCO”) is to manage the financial structure of the statement of financial position of Interbank, based on profitability and risk targets. The ALCO is also responsible for the proposal of new products or operations that contain components of market risk. Likewise, it is the communication channel with the units that generate market risk. The ALCO meets monthly and it is comprised of the Chief Executive Officer, the Vice Presidents of Risks, Commercial, Finance, Operations, Distribution Channels, Capital Market and the Manager of Treasury / Position Desk. Internal Audit Division - Risk management processes of Interbank are monitored by the Internal Audit Division, which examines both the adequacy of the procedures and the compliance with them. The Internal Audit Division discusses the results of all assessments with Management and reports its findings and recommendations to the Audit Committee and Board of Directors. (ii) Interseguro - Board of Directors The Board of Directors is responsible for the overall approach to risk management and it is responsible for the approval of the policies and strategies currently used. The Board of Directors provides the principles for overall risk management, as well as the policies prepared for specific areas, such as foreign exchange risk, interest rate risk, credit risk and the use of derivative and non-derivative financial instruments. Audit Committee The main purpose of the Audit Committee is to monitor that the accounting and financial reporting processes are appropriate, as well as to assess the activities performed by External and Internal Auditors. The Audit Committee is comprised of three Board members who do not fulfil any executive position within Interseguro; at least one of them is an Independent Director who leads the Committee and cannot lead any other Committee within Interseguro. The Committee sessions can be attended by the Chief Executive Officer, the Audit Manager, the External Auditors and other executives when required. The Committee meets at least six times a year in ordinary sessions and informs the Board on the most relevant issues it has addressed. Risk Committee The Risk Committee is a corporate body created by the Board. It is responsible for defining the business risk limits of Interseguro through the approval of risk policies and the corrective measures needed to maintain adequate levels of risk tolerance. The Risk Committee is comprised of four Board members, the Risk Manager and the Chief Executive Officer. Investment Committee The Investment Committee is responsible for approving the limits for each security or real estate that may be included in Interseguro’s investment portfolio. This Committee is comprised of several Board Members, the Chief Executive Officer and the Vice-President of Investments. Internal Audit Division Risk management processes throughout Interseguro are monitored by the Internal Audit Division, which reviews and assesses the design, scope and functioning of the internal control system and verifies the compliance of legal requirements, policies, standards and procedures. The Internal Audit Division discusses the results of all assessments with Management and reports its findings and recommendations to the Audit Committee and Board of Directors. (iii) Inteligo Bank - Inteligo Bank’s Board of Directors is responsible for the establishment and monitoring of the risk administration policies. To manage and monitor the various risks Inteligo Bank is exposed to, the Board of Directors has created the Credit and Investment Committee, the Assets and Liabilities Committee, the Credit Risk Committee and the Audit Committee. (iv) Izipay - The Board of Izipay is responsible for the approval of risk management policies. Likewise, in order to monitor the risks to which Izipay is exposed, the Board has created the Risks and Compliance Committee and the Audit Committee. The Group, through its different risk management bodies, has been monitoring and implementing in its Subsidiaries, diverse measures to address and counter the negative effects caused by the political and social context in the country and the pandemic, which began in March 2020. (b) Risk measurement and reporting systems - The Group uses different models and rating tools. These tools measure and value the risk within a prospective vision, thus allowing better decision making regarding risk in the different stages or life cycle of client or product. Notes to the consolidated financial statements (continued) Said models and tools are permanently monitored and periodically validated to assure that the levels of prediction and performance are being maintained and to make corrective actions or adjustments, when needed. (c) Risk mitigation and risk coverage - To mitigate its exposure to the various financial risks and provide adequate coverage, the Group has established a series of measures, among which the following stand out: • Policies, procedures, methodologies, models and parameters aimed to allow for the identification, measurement, control and reporting of diverse financial risks; • Review and assessment of diverse financial risks through specialized units of risk screening; • Timely monitoring and tracking of diverse financial risks and their maintenance within a defined tolerance level; • Compliance with regulatory limits and establishment of internal limits for exposure concentration; and • Procedures for managing guarantees. Likewise, as part of its comprehensive risk management, in certain circumstances the Group uses derivative financial instruments to mitigate its risk exposure, which arises from variations in interest rates and foreign exchange rates. (d) Risk concentration - Through its policies and procedures, the Group has established guidelines and mechanisms needed to prevent excessive risk concentration. In case any concentration risk is identified, the Group works with specialized units that enable it to control and manage said risks. 29.1 Credit risk (a) The Group opts for a credit risk policy that ensures sustained and profitable growth in all its products and the business segments it operates. In doing so, it applies assessment procedures for adequate decision-making, and uses tools and methodologies that allow the identification, measurement, mitigation and control of the different risks in the most efficient manner. Likewise, the Group regularly incorporates, develops and reviews management models that allow an adequate measurement, quantification and monitoring of the loans granted by each business unit and also encourages the continuous improvement of its policies, tools, methodologies and processes. Additionally, as a consequence of the political, economic and social context that arose during 2022 and 2021, see Note 1(b), and the high uncertainty of the intensity of the El Niño event in 2023, the behavior and performance of the expected credit losses of the retail and commercial clients has been affected, thus requiring a greater monitoring of results, which has also required certain subsequent adjustments to the expected loss model to be able to capture the effects of the current situation, which has generated a high level of uncertainty in the estimation of the loans expected loss. In compliance with the policy of monitoring the Group’s credit risk, during 2023, 2002 and 2021 Interbank performed the recalibration process of its risk parameters for the calculation of the expected credit losses. (b) The Group is exposed to credit risk, which is the risk that a counterparty causes a financial loss by failing to comply with an obligation. Credit risk is the most important risk for the Group’s business; therefore, Management carefully manages its exposure to credit risk, which arises mainly in lending activities that lead to loans and investment activities that contribute with securities and other financial instruments to the Group’s asset portfolio. There is also credit risk in the financial instruments out of the consolidated statement of financial position, such as contingent credits (indirect loans), which expose the Group to risks similar to those of direct loans, being mitigated with the same control processes and policies. Likewise, credit risk arising from derivative financial instruments is, at any time, limited to those with positive fair values, as recorded in the consolidated statement of financial position. As of the date of the consolidated statement of financial position and under IFRS 9, impairment allowances are established for expected credit losses. Significant changes in the economy or in the particular situation of an economic sector that represents a concentration in the Group’s portfolio could result in losses that are different from those provisioned for as of the date of the consolidated statement of financial position. The Group structures the levels of credit risk it undertakes by placing limits on the amount of risk accepted in relation to one borrower or group of borrowers and geographical and industry segments. Said risks are monitored on a revolving basis and subject to continuous review. The Group’s exposure to credit risk is managed through the regular assessment of debtors and their potential capability to pay the principal and interest of their obligations, and through the change in exposure limits, when appropriate. The exposure to credit risk is also mitigated, in part, through the obtaining of personal and corporate collateral. Nevertheless, there is a significant part of the financial instruments where said collateral cannot be obtained. Following is a description of the procedures and policies related to collateral management and valuation of collaterals. Policies and procedures for management and valuation of guarantees - Collateral required for financial assets other than the loan portfolio are determined according to the nature of the instrument. However, debt instruments, treasury papers and other financial assets are in general not guaranteed, except for securities guaranteed with similar assets and instruments. The Group has policies and guidelines established for the management of collateral received to back loans granted. The assets that guarantee loan operations bear a certain value prior to the loan approval and the procedures for their updating are described in the internal rules. To manage guarantees, the Group operates specialized divisions for the establishment, management and release of guarantees. Collateral that back loan operations include different goods, property and financial instruments (including cash and securities). Their preferential status depends on the following conditions: • Easy convertibility into cash. Notes to the consolidated financial statements (continued) • Proper legal documentation, duly registered with the corresponding public registry. • Do not have previous obligations that could reduce their value. • Their fair value must be updated. Long-term loans and fundings granted to corporate entities are generally guaranteed. Consumer loans granted to small companies are not generally guaranteed. Management monitors the fair value of collateral, and with the purpose of mitigating credit losses, requests additional collateral to the counterparty as soon as impairment evidence exists. The proceeds from the settlement of the collateral obtained are used to reduce or repay the outstanding claim. In the case of derivative financial instruments, the Group maintains strict control limits on net open derivative positions (the difference between purchase and sale contracts), both in amount and term. The amount subject to credit risk is limited to the current fair value of instruments that are favorable to the Group (for example, an asset when its fair value is positive), which in relation to derivatives is only a small fraction of the contract, or notional amount used to express the volume of instruments outstanding. This credit risk exposure is managed as part of the overall lending limits with customers, together with potential exposures from market movements. Collateral or other securities are not usually obtained for credit risk exposures on these instruments. Settlement risk arises in any situation where a payment in cash, securities or equity is made in the expectation of a corresponding receipt in cash. Daily settlement limits are established for each counterparty to cover the aggregate of all settlement risk arising from the Group’s market transactions on any single day. (c) Maximum exposure to credit risk - As of December 31, 2023 and 2022, Management estimates that the maximum credit risk to which the Group is exposed is represented by the book value of the financial assets which show a potential credit risk and consist mostly of deposits in banks, inter-bank funds, investments, loans (direct and indirect), without considering the fair value of the collateral or guarantees, derivative financial instruments transactions, receivables from insurance transactions and other monetary assets. In this sense, As of December 31, 2023 and 2022, the main captions were formed as follows: • 76.0 percent and 74.2 percent, respectively, of cash corresponds to amounts deposited in the Group’s vaults or in the BCRP; • 85.3 percent and 89.8 percent, respectively, of the loan portfolio is classified into the two lower credit risk categories defined by the Group under IFRS 9 (high and standard grade); • 89.8 percent and 92.6 percent, respectively, of loans is deemed non-past-due and non-impaired. It is worth mentioning that, because of the effects of the Covid-19 pandemic, the Group has rescheduled loans that met certain requirements. The balance of rescheduled loans related to Covid-19 as of December 31, 2023 and 2022 amounts approximately to S/3,513,905,000,000 and S/5,048,978,000, respectively. Additionally, as a consequence of “Reactiva Peru” program, the Group has rescheduled loans that meet certain requirements, therefore ; • 90.2 percent and 88.0 percent, respectively, of investments at fair value through other comprehensive income and investments at amortized cost have at least an investment grade (BBB- or higher) or are debt instruments issued by the BCRP or the Peruvian Government; and • 97.2 percent and 97.7 percent of accounts receivable from insurance premiums and leases of the investment properties are • In addition, as of December 31, 2023 and 2022, the Group holds loans (direct and indirect) and investments in fixed income instruments issued by entities related to the infrastructure sector that, in recent years, have been exposed to local and international events. As of December 31, 2023 the loans amount approximately to S/588,659,000 (S/200,177,000 in direct loans and S/388,482,000 in indirect loans) and investments in fixed income instruments amount approximately to S/1,011,043,000 (as of December 31, 2022 the loans amount approximately to S/712,662,000 (S/163,534,000 in direct loans and S/549,128,000 in indirect loans) and investments in fixed income instruments amount approximately to S/1,036,763,000). (d) Impairment assessment for loan portfolios - The main objective of the impairment requirements is to recognize expected credit losses during the average life of financial instruments when there has been a significant increase in credit risk after the initial recognition — as evaluated on a collective or individual basis — considering all reasonable and sustainable information, including that which refers to the future. If the financial instrument does not show a significant increase in credit risk after the initial recognition, the provision for credit losses shall be calculated as 12-month expected credit losses (Stage 1), as defined in Note 3.4(i). Under some circumstances, entities may not have reasonable and sustainable information available without disproportionate effort or cost to measure the expected credit losses during the lifetime of the asset on an individual instrument basis. In that case, expected credit losses during the asset’s lifetime shall be recognized on a collective basis considering information about the overall credit risk. The financial assets for which the Group calculates the expected loss under a collective assessment include: • All direct and indirect (contingent) loans related to stand-by letters, guarantees, bank guarantees and letters of credit; except loans under legal collection do not have a payment agreement and specifically, certain clients that belong to the infrastructure sector. • Debt instruments measured at amortized cost or at fair value through other comprehensive income. The expected credit loss is estimated collectively for each loan portfolio with shared similar risk characteristics. Not only default indicators, but all information such as: macroeconomic projections, type of instrument, credit risk ratings, types of guarantees, date of initial recognition and remaining time to maturity, among other indicators. For the collective impairment assessment, the financial assets are grouped based on the Group’s internal credit rating system, which considers credit risk characteristics, such as: type of asset, economic sector, geographical location and type of guarantee, among other relevant factors. Expected losses are calculated under the identification and multiplication of the following risk parameters: • Probability of Default (PD): It is the likelihood of a default over a particular time horizon that the counterpart will be unable to meet its debt obligations in a certain term and with it is cataloged as default. • Loss Given Default (LGD): Measures the loss in percentage terms on total exposure at default (see Exposure at default). • Exposure at Default (EAD): Represents the total value that the Group can lose upon default of a counterpart. (d.1) Definition of default: In accordance with IFRS 9, the Group determines that there is default on a financial asset when: • The borrower is unlikely to pay their credit obligations to the Group in full, without recourse by the Group to actions such as realizing guarantee (if applicable); or • The borrower is past due by more than 90 days on any material credit obligation to the Group. In assessing whether a borrower is in default, the Group considers the following indicators: • Qualitative: contracts in judicial and prejudicial proceedings. • Quantitative: contracts in default for more than 90 days; and • Based on data prepared internally and obtained from external sources such as: • Significant changes in indicators of credit risk • Significant changes in external market indicators • Real or expected significant change in the external and/or internal credit rating • Existing or forecast adverse changes in the business, economic or financial conditions that are expected to cause a significant change in the borrower’s ability to meet its debt obligations. • Real or expected significant change in the operating results of the borrower • Existing or future adverse changes in the regulatory, economic, or technological environment of the borrower that results in a significant change in its ability to meet its debt obligations. Likewise, losses recognized in the period are affected by several factors, such as: • Financial assets moving from Stage 1 to Stage 2 or Stage 3 because there has been a significant increase in their risk since initial recognition or they present impairment at the analysis date, respectively. As a result, lifetime expected losses are calculated. • Impact on the measurement of expected losses due to changes in PD, EAD and LGD resulting from the update of the inputs used. • Impact on the measurement of expected losses due to changes in the models and assumptions used. • Additional provisions for new financial instruments reported during the period. • Periodic reversals of the discount of expected losses due to the passage of time, as they are measured based on the present value. • Financial assets written off during the period. • Exchange difference arising from financial assets denominated in foreign currency. (d.1.1) Internal rating and PD: The Group’s loans are segmented into homogeneous groups with shared similar credit risk characteristics as detailed below: • Personal Banking (credit cards, mortgages, payroll loans, consumer loans and vehicular loans) • Small Business Banking • Commercial Banking (Corporate, Institutional, Companies and Real estate) In the case of Interbank, its Credit Risk Department determines its risk level according to the following classification, as of December 31, 2023 and 2022: 2023 Banking Segment High grade PD less than or equal Standard grade PD range (*) Grade lower than PD equal to or higher Personal Banking Credit card 7.12% 7.13% - 16.98% 16.99% Mortgage 2.07% 2.08% - 6.80% 6.81% Payroll loans 2.80% 2.81% - 6.43% 6.44% Consumer 9.32% 9.33% - 20.78% 20.79% Vehicular 9.13% 9.14% - 22.90% 22.91% Small Business Banking 15.26% 15.27% - 31.69% 31.70% Corporate 0.22% 0.22% 0.22% Commercial Banking Institutional 0.55% 0.55% 0.55% Companies 5.23% 5.24% - 9.67% 9.68% Real estate 3.71% 3.71% 3.71% 2022 Banking Segment High grade PD less than or equal (*) Standard grade Grade lower than PD equal to or higher (*) Credit card 7.36% 7.37% - 17.52% 17.53% Mortgage 1.15% 1.16% - 3.76% 3.77% Payroll loans 3.94% 3.95% - 16.89% 16.90% Personal Banking Consumer 7.94% 7.95% - 18.15% 18.16% Vehicular 3.24% 3.25% - 9.09% 9.10% Small Business Banking 15.05% 15.06% - 24.59% 24.60% Corporate 0.28% 0.28% 0.28% Commercial Banking Institutional 0.28% 0.28% 0.28% Companies 3.72% 3.73% - 6.84% 6.85% Real estate 1.66% 1.66% 1.66% (*) The probability of default is exclusively determined by the statistical model and, therefore, does not include the subsequent adjustments to the model, detailed in Note 29.1 (d.7) The main objective of the scoring or rating is to generate statistical models that allow forecasting the applicant’s level of credit risk. The development of these models incorporates both qualitative and quantitative information, as well as client specific information that may affect their performance. These rating models are monitored on a regular basis because over time, some factors may have a negative impact on the model’s discriminating power, and stability due to changes in the population or its characteristics. Each rating has an associated PD, which is adjusted to incorporate prospective information. This is replicated for each macroeconomic scenario, as appropriate. To calculate the PD, two differentiated methodologies have been developed, which are described below: • Transition matrixes Its objective is to determine the probability of default over a 12-month horizon based on the maturity of the operation, by analyzing the conditional probability of transition from one credit rating state to another. This method is suitable for loans with high exposure and wide data availability. The intention is to calculate the PD based on the maturity of the operation. • Default ratio Its objective is to determine the probability of default over a 12-month horizon based on the level of risk with which the operation begins, based on a counting analysis and the percentage of cases that report a default mark. This method is suitable for loans with poor data availability by type of maturity. Given the nature of the portfolios and the availability of historical information, the method to estimate the PD for each portfolio is presented below: Banking / Segments Transition matrix Default ratio Personal banking: Credit cards X Mortgage X Payroll loans X Consumer X Vehicular X Small business banking X Commercial banking Corporate X Institutional X Companies X Real estate X Likewise, for commercial sector clients, Interbank has implemented a system that allows more personalized monitoring, based on warnings, changes in ratings and reputation problems, among others. On the other hand, at each reporting date, for indirect loans (contingent), as happens for direct loans, the expected loss is calculated depending on the stage in which each operation is located; that is, if it is in Stage 1, the expected loss is calculated with a 12-month view. If it is in Stage 2 (if the operation shows a significant risk increase since the initial recognition) or Stage 3 (if the operation has a default), the expected loss is calculated for the remaining life of the asset. The Group considers the changes in credit risk based on the probability that the borrower will fail to comply with the loan agreement. As of December 31, 2023 and 2022, the Group holds stand-by letters and guarantees with entities related to the infrastructure sector that, in recent years, for circumstantial reasons; were exposed to national and international events, as well as loans under legal collection that do not have payment agreements. To determine the expected losses of these entities, the Group, in a complementary manner, has performed an individual assessment to determine if the operation is in Stage 1, Stage 2 or Stage 3. The criteria established to assign the risk to each one of the operations that are evaluated under an individual evaluation use the following combination of factors: quantitative, qualitative and financial. To estimate the PD for the lifetime of a financial asset, a transformation to a 12-month PD is made according to the year of remaining life. That is, the PD is determined for a lifetime by an exponentiation of the 12-month PD. At Inteligo Bank, both for Personal Banking and Commercial Banking, the internal model developed (scorecard) assigns 5 levels of credit risk: low, medium low, medium, medium high, and high. This methodology evaluates the scoring, increase or decrease of risks, taking into consideration the loan structure and the type of client; therefore, there is one scorecard for Personal Banking and another for Commercial Banking. (d.2) Loss Given Default (LGD): It is an estimated loss in case of default. It is the difference between contractual cash flows due and those expected to be received, including guarantees. Generally, it is expressed as an EAD percentage. In the case of Interbank, the calculation of the LGD has been developed under two differentiated methods, which are described below: • Closed recoveries Those in which a client entered and left default (due to debt settlement, application of penalty or refinancing) over a course of up to 100 months and 88 months, as of December 31, 2023 and 2022, respectively. • Open recoveries Those in which a client entered and did not manage to exit default over a course of up to 100 months and 88 months, as of December 31, 2023 and 2022, respectively. This method identifies the adjustment factor that allows to simulate the effect of a closed recovery process. Thus, a recovery curve is built from the information of closed recovery processes and a recovery rate curve is estimated based on the number of months of each process. This methodology is applied to the Mortgage and Commercial Banking loan portfolios. In the case of Inteligo Bank, for those credits th |
Fair value
Fair value | 12 Months Ended |
Dec. 31, 2023 | |
Text Block [Abstract] | |
Fair value | 30. Fair value (a) Financial instruments measured at their fair value and fair value hierarchy The following table presents an analysis of the financial instruments that are measured at their fair value, including the level of hierarchy of fair value. The amounts are based on the balances presented in the consolidated statement of financial position: As of December 31, 2023 Level 1 Level 2 Level 3 Total S/(000) S/(000) S/(000) S/(000) Financial assets Financial investments At fair value through profit or loss (*) 329,609 344,155 882,776 1,556,540 Debt instruments measured at fair value through other comprehensive income 11,779,535 9,132,649 — 20,912,184 Equity instruments measured at fair value through other comprehensive income 397,247 10,541 37,090 444,878 Derivatives receivable — 158,101 — 158,101 12,506,391 9,645,446 919,866 23,071,703 Accrued interest 334,385 Total financial assets 23,406,088 Financial liabilities Derivatives payable — 145,395 — 145,395 As of December 31, 2022 Level 1 Level 2 Level 3 Total S/(000) S/(000) S/(000) S/(000) Financial assets Financial investments At fair value through profit or loss (*) 428,739 564,559 939,695 1,932,993 Debt instruments measured at fair value through other comprehensive income 9,946,427 6,770,090 — 16,716,517 Equity instruments measured at fair value through other comprehensive income 464,556 10,188 38,140 512,884 Derivatives receivable — 515,800 — 515,800 10,839,722 7,860,637 977,835 19,678,194 Accrued interest 322,425 Total financial assets 20,000,619 Financial liabilities Derivatives payable — 297,038 — 297,038 (*) As of December 31, 2023 and 2022, correspond mainly to participations in mutual funds and investment funds. Financial assets included in Level 1 are those measured on the basis of information that is available on the market, to the extent that their quoted prices reflect an active and liquid market and that are available in some centralized trading mechanism, trading agent, price supplier or regulatory entity. Financial instruments included in Level 2 are valued based on the market prices of other instruments with similar characteristics or with financial valuation models based on information of variables observable in the market (interest rate curves, price vectors, etc.). Financial assets included in Level 3 are valued by using assumptions and data that do not correspond to prices of operations traded on the market. The valuation requires Management to make certain assumptions about the model variables and data, including the forecast of cash flow, discount rate, credit risk and volatility. During 2023, there were transfers of certain financial instruments from Level 1 to Level 2 for an amount of S/32,577,000, because they stopped being actively traded during the year, and consequently, fair values were obtained by using observable market data. Likewise, during 2023, there were transfers of certain financial instruments from Level 2 to Level 1 for an amount of The table below presents a description of significant unobservable data used in valuation: Valuation technique Significant Valuation Sensitivity of inputs to fair value 2023 2022 Private Equity Stocks Net asset value NAV Depends on each investment Depends on each investment 10 percent increase (decrease) in the NAVs would result in increase (decrease) in fair value by S/7,678,000 as of December 31, 2023 and S/7,022,000 as of December 31, 2022. Private equity funds Net asset value NAV Depends on each investment Depends on each investment 10 percent increase (decrease) in the NAVs would result in increase (decrease) in fair value by S/80,597,000 as of December 31, 2023 and S/86,944,000 as of December 31, 2022. Listed shares Equity method - According to price risk According to price risk 5 percent increase (decrease) of the price would result in increase in fair value of S/1,854,000 as of December 31, 2023 and S/1,907,000 as of December 31, 2022. The table below includes a reconciliation of fair value measurement of financial instruments classified by the Group within Level 3 of the valuation hierarchy: 2023 2022 S/(000) S/(000) Initial balance as of January 1 977,835 1,133,763 Purchases 85,777 180,344 Sales (35,625 ) (280,297 ) Loss recognized on the consolidated statement of income (108,121 ) (55,975 ) Balance as of December 31 919,866 977,835 (b) Financial instruments not measured at their fair value - The table below presents the disclosure of the comparison between the carrying amounts and fair values of the Group’s financial instruments that are not measured at their fair value, presented by level of fair value hierarchy: As of December 31, 2023 As of December 31, 2022 Level 1 Level 2 Level 3 Fair value Book value Level 1 Level 2 Level 3 Fair value Book value S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Assets Cash and due from banks — 9,818,711 — 9,818,711 9,818,711 — 13,193,411 — 13,193,411 13,193,411 Inter-bank funds — 524,915 — 524,915 524,915 — 296,119 — 296,119 296,119 Investments at amortized cost 3,277,672 80,042 — 3,357,714 3,474,004 2,949,507 — — 2,949,507 3,302,779 Loans, net — 44,737,995 — 44,737,995 46,520,382 — 42,932,260 — 42,932,260 45,502,998 Due from customers on acceptances — 40,565 — 40,565 40,565 — 45,809 — 45,809 45,809 Other accounts receivable and other assets, net — 1,246,480 — 1,246,480 1,246,480 — 919,767 — 919,767 919,767 Reinsurance contract assets — 26,287 — 26,287 26,287 — 34,053 — 34,053 34,053 Total 3,277,672 56,474,995 — 59,752,667 61,651,344 2,949,507 57,421,419 — 60,370,926 63,294,936 Liabilities Deposits and obligations — 49,394,868 — 49,394,868 49,188,234 — 48,464,095 — 48,464,095 48,530,708 Inter-bank funds — 119,712 — 119,712 119,712 — 30,012 — 30,012 30,012 Due to banks and correspondents — 9,028,209 — 9,028,209 9,025,930 — 6,859,664 — 6,859,664 7,100,646 Bonds, notes and other obligations 4,587,631 708,643 — 5,296,274 5,551,629 6,447,282 990,545 — 7,437,827 7,906,303 Due from customers on acceptances — 40,565 — 40,565 40,565 — 45,809 — 45,809 45,809 Insurance and reinsurance contract liabilities — 12,207,536 — 12,207,536 12,207,536 — 11,231,321 — 11,231,321 11,231,321 Other accounts payable and other liabilities — 3,056,196 — 3,056,196 3,056,196 — 2,533,292 — 2,533,292 2,533,292 Total 4,587,631 74,555,729 — 79,143,360 79,189,802 6,447,282 70,154,738 — 76,602,020 77,378,091 The methodologies and assumptions used to determine fair values depend on the terms and risk characteristics of each financial instrument and they include the following: (i) Long-term fixed-rate and variable-rate loans are assessed by the Group based on parameters such as interest rates, specific country risk factors, individual creditworthiness of the customer and the risk characteristics of the financed project. Based on this evaluation, allowances are taken into account for the estimated losses of these loans. As of December 31, 2023 and 2022, the book value of loans, net of allowances, was not significantly different from the calculated fair values. (ii) Instruments whose fair value approximates their book value: For financial assets and financial liabilities that are liquid or have short-term maturity (less than 3 months) it is assumed that the carrying amounts approximate to their fair values. This assumption is also applied to demand deposits, savings accounts without a specific maturity and variable-rate financial instruments. (iii) Fixed-rate financial instruments: The fair value of fixed-rate financial assets and financial liabilities at amortized cost is determined by comparing market interest rates when they were first recognized with current market rates related to similar financial instruments for their remaining term to maturity. The fair value of fixed-interest-rate deposits is based on discounted cash flows using market interest rates for financial instruments with similar credit risk and maturity. For quoted debt issued, the fair value is determined based on quoted market prices. When quotations are not available, a discounted cash flow model is used based on the yield curve of the appropriate interest rate for the remaining term to maturity. |
Fiduciary activities and manage
Fiduciary activities and management of funds | 12 Months Ended |
Dec. 31, 2023 | |
Text Block [Abstract] | |
Fiduciary activities and management of funds | 31. Fiduciary activities and management of funds The Group provides custody, trustee, investment management and advisory services to third parties; therefore, the Group makes purchase and sale decisions in relation to a wide range of financial instruments. Assets that are held as trust are not included in the consolidated financial statements. These services give rise to the risk that the Group could eventually be held responsible for poor yielding of the assets under its management. As of December 31, 2023 and 2022, the value of the managed off-balance sheet financial assets is as follows: 2023 2022 S/(000) S/(000) Investment funds 17,829,262 16,821,566 Mutual funds 5,352,241 4,495,832 Total 23,181,503 21,317,398 |
Subsequent events
Subsequent events | 12 Months Ended |
Dec. 31, 2023 | |
Text Block [Abstract] | |
Subsequent events | 32. Subsequent event On January 16, 2024, Interbank issued subordinated bonds called “7.625 Subordinated Notes due 2034” for the amount of US$300,000,000, under Rule 144A and Regulation S of the U.S. Securities Act of 1933 of the United States of America. This issuance has maturity in January 2034 and the agreed nominal interest rate was 7.625 percent. |
Significant accounting polici_2
Significant accounting policies (Policies) | 12 Months Ended |
Dec. 31, 2023 | |
Text Block [Abstract] | |
Foreign currency translation | (a) Foreign currency translation - Functional and presentation currency: The Group has determined that its functional and presentation currency is the Sol, because it reflects the economic substance of the underlying events and circumstances relevant to most of the Group’s entities, insofar as its main operations and/or transactions, such as loans granted, financing obtained, sale of insurance premiums, interest and similar income, interest and similar expenses and an important percentage of purchases are established and settled in Soles; in addition, it corresponds to the functional currency to most of the Subsidiaries; except for Inteligo Bank, whose functional currency is the US Dollar. Because Inteligo Bank has a functional currency different from the Sol, its balances were translated for consolidation purposes using the methodology established by IAS 21 “The Effects of Changes in Foreign Exchange Rates”, as follows: • Assets and liabilities at the closing rate at the date of each consolidated statement of financial position. • Income and expenses, at the average exchange rate for each month. As a result of the translation, the Group has recorded the difference in the caption “Exchange differences on translation of foreign operations” in the consolidated statement of other comprehensive income. Foreign currency balances and transactions: Foreign currency transactions and balances are those performed in currencies different from the functional currency. Transactions in foreign currencies are initially recorded in the functional currency using the exchange rate at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated into the functional currency using the exchange rate in effect on the reporting date. The differences between the closing rate at the date of each consolidated statement of financial position presented and the exchange rate initially used to record the transactions in foreign currency are recognized in the consolidated statement of income in the period in which they arise, in the caption “Translation result”. Non-monetary assets and liabilities acquired in a foreign currency are recorded at the exchange rate at the date of the initial transaction. |
Interest income | (b) Interest income - (b.1) Effective interest rate method - Under IFRS 9, interest income is recorded using the effective interest rate (“EIR”) method for all financial assets measured at amortized cost, interest rate derivatives for which hedge accounting is applied and the related amortization/recycling effect of hedge accounting. The interest income of financial assets that accrue interest measured at fair value through other comprehensive income according to IFRS 9 is also recorded using the EIR method. Interest expenses are also calculated using the EIR method for all financial liabilities held at amortized cost. EIR is the rate that exactly discounts estimated future cash flows through the expected life of the financial instrument or, when appropriate, a shorter period at the net carrying amount of the financial asset. The EIR (and therefore, the amortized cost of the financial asset) is calculated by taking into account transaction costs and any discount or premium on the acquisition of the financial asset, as well as fees and costs that are an integral part of the EIR. The Group recognizes interest income using the best estimate of a constant rate of return over the expected life of the financial asset. Therefore, the EIR calculation also considers the effect of potentially different interest rates that may be charged at various stages of the financial asset’s expected life, and other characteristics of the product’s life cycle (including prepayments, penalty interest and charges). If expectations of fixed rate financial assets’ or liabilities’ cash flows are revised for reasons other than credit risk, then changes to future contractual cash flows are discounted at the original EIR, and the adjustment is recorded as a positive or negative adjustment of the carrying amount of the financial asset in the consolidated statement of financial position with an increase or decrease in Interest revenue. For floating-rate financial instruments, periodic re-estimation of cash flows to reflect the movements in the market rates of interest also alters the effective interest rate, but when instruments were initially recognized at an amount equal to the principal, re-estimating the future interest payments does not significantly affect the carrying amount of the asset or the liability. (b.2) Interest income and similar - The Group calculates interest income by applying the EIR to the gross carrying amount of non-impaired financial assets. When a financial asset becomes impaired, and, therefore, it is classified as Stage 3 (as established in Note 3.4(h)), the Group calculates the interest income by applying the EIR at the amortized cost of the asset. If the financial asset “recovers”, as detailed in Note 29.1(d), and is no longer impaired, the Group recalculates the interest income on a gross basis. For purchased or originated credit-impaired (POCI) assets, as detailed in Note 29.1(d), the Group calculates the interest income by determining the credit-adjusted EIR at the amortized cost of the asset. The credit-adjusted EIR is the interest rate that, at initial recognition, discounts the estimated future cash flows (including credit losses) at the amortized cost of POCI assets. The interest income for all trading assets, that is, for those that are measured at fair value through profit or loss, are presented under the caption “Net gain of financial assets at fair value through profit or loss” of the consolidated statement of income. |
Banking services commissions | (c) Banking services commissions - The Group earns fee and commission income from a diverse range of financial services it provides to its customers. Fee and commission income are recognized at an amount that reflects the consideration to which the Group expects to be entitled in exchange for providing the services. The performance obligations, as well as the timing of their satisfaction, are identified and determined at the inception of the contract. The Group’s income from contracts do not typically include multiple performance obligations. When the Group provides a service to its clients, the consideration is invoiced and generally due immediately upon satisfaction of a service provided at a point in time or at the end of the contract period for a service provided over time. The Group has generally concluded that it is the principal in its revenue arrangements because it typically controls the services before transferring them to the customer. The fees included in the caption “Fees income from financial services, net” that make up part of the consolidated statement of income include fee income where performance obligations are satisfied at a specific time or over a period of time. Fee income where performance obligations are satisfied over a period of time include, among others, collection services, funds management, memberships, fees for contingent loans and credit card insurance. Likewise, fee income where performance obligations are satisfied at a specific time include, among others, banking service fees, brokerage and custody services, and credit card fees. Below is the main income from contracts with customers that are recognized in the consolidated statement of financial position: • Fees receivable for credit cards and certain fees receivable for letters of guarantee included in the caption “Other accounts receivable and other assets, net”, represent the Group’s right to an unconditional consideration (i.e., it only requires the passing of time for the consideration payment). This asset is measured at amortized cost and is subject to impairment specifications under IFRS 9. • Deferred income from commissions for letters of guarantee included in the caption “Other accounts payable, provisions and other liabilities”, represent the Group’s obligation to render services to a customer, from whom the Group has received a consideration (or a due amount). A liability for unearned fees and commissions is recognized when the payment is made or when the payment is due (whichever happens first). Unearned fees and commissions are recognized as income when the Group renders the service. |
Insurance contracts | (d) Insurance contracts – (d.1) Accounting policies for insurance activities (Policy applicable from January 1, 2023) (d.1.1) Insurance contracts - (d.1.1.1) Initial recognition - IFS recognizes, under IFRS 17, a group of insurance contracts when the first of the following events occurs: • The beginning of the coverage period of the group of contracts, • The date when the first payment from a policyholder in the group becomes due, and • For a group of onerous contracts, when the group becomes onerous. Measurement at initial recognition At initial recognition, the Group measures a group of insurance contracts by the total of: • The fulfillment cash flows, which comprise: • Estimates of future cash flows. • An adjustment to reflect the time value of money and the financial risks related to the future cash flows, to the extent that the financial risks are not included in the estimates of the future cash flows. and • A risk adjustment for non-financial risk. • The contractual service margin (“CSM”). Subsequent measurement The book value at the end of period of a group of insurance contracts is the sum of: • The liability for remaining coverage, which comprises: • The fulfillment of cash flows related to future services • The contractual service margin or CSM • The adjustment rate at market value • The claims incurred liability, which comprises the fulfillment cash flows related to future services. (d.1.1.2) Levels of aggregation - Insurance contract portfolios - The first level of aggregation for insurance contracts consists of determining the portfolio. An insurance portfolio is composed by a group of contracts subject to similar risks and managed together. The Group has deemed that the following factors are relevant when defining the insurance portfolios in effect: • Product lines and their differentiated management, separating the products by pensions, life, and general insurance, and below them, based on the specific covered risks: savings, risk, annuities, and accidents, among others. There are not separations of risks within the same contract because they are jointly managed. • Contract limits: differentiating in equal contracts or shorter than one year and longer than four years. • Individual or collective insurance policies. • Policy currency: differentiating between policies denominated in different currencies. Currently, the currencies considered are the Sol, the US Dollar, and Sol VAC. • Funeral expense cover (in currency VAC): a different portfolio is considered because it is understood that its risk management is different from the management of the main risk of the product Annuity (SPP and Private). This criterion is only applicable to funeral VAC of the pensions (SPP and Private). • The assessment based on the indicated attributes continues to be performed for the new products that may be designed and marketed in the future. Cohorts - The second level of aggregation is the cohort level, whereby the Group does not include in the same group contracts issued more than one year apart. Contracts issued between January 1 and December 31 of each year are included within each cohort for each portfolio. Grouping by onerosity - The last grouping level that the Group applies is in function of the expected profitability level or the onerosity at the moment of the contract issuance. Given that the standard requires at least three groups, the Group foresees that the products by level of profitability or onerosity will be grouped into two groups: • Groups of contracts that are onerous at initial recognition, if any. • Groups of non-onerous contracts: Include contracts that at initial recognition have no significant possibility of becoming onerous subsequently and the remaining non-onerous contracts at initial recognition. The Group has defined a ratio to differentiate these groups. In this sense, even though it is foreseen that there will be two groups by profitability level, the groups that will eventually be determined will depend on the compliance of the ratio on the predetermined threshold. (d.1.1.3) Valuation methods - The Group applies the following valuation methods in the measurement of insurance contracts: • Building Block Approach (“BBA”). This method will be applied by default to insurance contracts unless conditions exist to apply any of the other two methods. • Two BBA variants. The first one will be applied compulsorily if the conditions for it are met, and the second one will be applied optionally if conditions are met: • Variable Fee Approach (“VFA”) • Premium Allocation Approach (“PAA”) The application of one or the other method affects the measurement of the liability for remaining coverage (“LRC”) because the liability for incurred claims (“LIC”) refers to all cash flows allocated for the payment of claims and related expenses that, although incurred, have not yet been settled. This includes claims that have already occurred, but, for some reason have not been reported yet. Building Block Approach (BBA) - This method is applied to contracts with coverage periods longer than one year and whose liability flows do not depend on underlying elements. IFS measures a group of insurance contracts (unit of account) by the total of fulfillment cash flows and the CSM. The following are the elements details of this component group: • Fulfillment Cash Flows (“FCF”): the fulfillment cash flows are comprised of the following elements: • Estimation of future cash flows: Weighted estimation by the probability of future cash outflows occurrence minus the future cash inflows from the fulfillment of the contract. It is necessary to consider solely the cash flows that are within the limits of the insurance contract and the attributable acquisition expenses must be included. The Group revises the estimations performed in the preceding valuation period and updates them so that they reflect the conditions at the valuation date, and that the changes made to the estimation represent the modifications of the period’s conditions. Discount effect: IFRS 17 establishes that the fulfillment cash flows are adjusted to reflect the time value of money and the financial risks related to the future cash flows. The estimation of cash flows and the inclusion of the discount effect may result in the best estimate liability (“BEL”). In the discount rate estimation procedure, observable market values are used; for pensions contracts, the Matching Adjustment Discount Rate is mainly used and for individual life contracts, the Risk Free Rate – USA is mainly used. • Risk Adjustment (“RA”): Represents the compensation that an entity requires to bear the non-financial risk that arises from the uncertainty over the cash flows regarding their amount and the moment of payment of the future cash flows, and it is calculated in an explicit and separate manner from the cash flows. Likewise, the risk adjustment also reflects the risk aversion degree and the diversification degrees that the entity includes to determine the compensation to bear such non-financial risks. • CSM: Represents the expected profit from the insurance contracts, which is recognized in profit or loss as the service is rendered. The recognition of the CSM throughout the contract’s life is made in a systematic manner and consistently with the rendering of the service provided by the insurance contract in the future. Variable Fee Approach (VFA) – The VFA valuation method is intended for insurance contracts with a direct component participation of the insured (the valuation risk is that of the insured) whereby at initial recognition the following conditions are met: • The contractual terms specify that the policyholder takes part in a clearly identified set of underlying elements; • The entity expects to pay the policyholder an amount equal to a substantial part of the profitability at fair value (market value) of the underlying elements; and • The entity expects that a substantial part of any change in the amounts payable to the policyholder varies with the change in fair value of the underlying elements. The VFA method has the following characteristics: • In the CSM, market interest is credited. • In the CSM the difference in the value of the funds of the underlying asset’s funds is adjusted. • The other components remain the same as the BBA method. Premium Allocation Approach (PAA) - The PAA valuation method is a simplification of the general method and its application is optional. The entity only applies the simplified method to contracts if one of the following criteria is met: • For contracts longer than one year, the simplification results in a liability for remaining coverage that does not materially differ from that generated by the general model (BBA); or • The coverage period of the group of contracts is one year or shorter. The criterion that defines the one-year period must be determined according to the contract limits. To assign the appropriate valuation method to the insurance contracts issued, the Group has assessed the valuation requirements under each method, as well as the minimum criteria and possible approaches for the eligibility of the PAA method and the VFA method. The following are the valuation methods assigned to each product: • Life: BBA, PAA or VFA, depending on the characteristics and evaluation of the contract • Pensions: BBA • General insurance: BBA or PAA, depending on the characteristics and evaluation of the contract (d.1.2) Reinsurance - (d.1.2.1) Classification of reinsurance contracts - An insurance contract issued by one entity (the reinsurer) to compensate another entity for claims arising from one or more insurance contracts issued by that other entity (underlying contracts). (d.1.2.2) Levels of aggregation - Contracts portfolio - The first level that IFRS 17 establishes for the grouping of reinsurance contracts consists of the determination of portfolios. The Group will determine the insurance portfolios considering similar risks that are jointly managed. The Company has deemed that the following factors are relevant when defining the reinsurance portfolios in effect: • Product lines and their differentiated management, separating in all cases the proportional reinsurance contracts and the non- proportional reinsurance contracts, and below them, based on the specific covered risks: credit life, “Vida Ley”, accidents, Individual life, retirement, CAT. • Contract limits, separating in all cases the annual and multi-year reinsurance contracts. • Materiality criteria, i.e., when there are individual contracts that do not comply with the previously described conditions to be grouped, the Group will have the possibility of grouping them as long as they are run-off isolated contracts with little relevance to the Company. • The assessment based on the indicated attributes will continue to be performed for the new products that may be designed and marketed in the future. Cohorts - The second grouping level is the cohort level, whereby the Group does not include in the same group contracts issued more than one year apart. Cohorts are defined as being equal to the calendar year. i.e., each cohort includes contracts issued between January 1 and December 31 of each year. (d.1.2.3) Reinsurance fee - Fees from reinsurance contracts for ceded premiums are amortized in relation to the validity period of the related insurance contract. (d.1.3) Exchange difference in insurance contract liabilities - According to IAS 21, for the purpose of converting insurance contracts in foreign currency into the functional currency of the Company, they are treated as a monetary item. Exchange differences on remeasurement of the insurance contract liability are recognized in profit or loss, except for exchange differences related to the interest rate effect for contracts under BBA method, which are recognized in “Other comprehensive income” together with the annual movements of the interest rate effect. (d.1.4) Recognition of income and expenses - The Group recognizes income and expenses for the following changes in the book value of the liability for remaining coverage (LRC): • Income from ordinary insurance activities: for the decrease in the LRC due to the service rendered in the period. • Expenses of the insurance service: for losses in the groups of onerous contracts, and reversions of these losses. • Financial expenses and income for insurance activities: for the effect of the time value of money and the financial risk effect. The Group recognizes income and expenses for the following changes in the book value of the liability for incurred claims (LIC): • Expenses of the insurance service: for the increase in liability due to claims and expenses incurred in the period, excluding investment components. • Expenses of the insurance service: for the subsequent changes in the cash flows from the compliance related to claims and expenses incurred. • Financial expenses and financial income for insurance activities: for the effect of the time value of money and the financial risk effect. (d.1.5) Expenses attributable to the fulfillment of contracts - Attributable expenses are related to the fulfillment of contracts, directly or indirectly. Expenses directly and indirectly attributable - The Group classifies expenses directly attributable to those that can be attributable at portfolio level or individual contracts. Indirect expenses are deemed partially attributable if they are necessary for the fulfillment of the insurance contracts, even if they are not directly associated to a portfolio or individual contract. Expenses indirectly attributable must be allocated to groups of contracts by using a systematic and rational method that can be applied in a consistent manner to all expenses with similar characteristics. The expected attributable expenses (without considering the acquisition costs attributable) are included in the LRC, being released as income in the statement of income and decreasing the LRC when the service is rendered. At the same time, the expenses of the insurance service are recognized based on the actual expenses incurred. (d.1.6) Contractual Service Margin (CSM) - The CSM represents the expected profit from a group of insurance contracts for the services rendered during the coverage period. It is released in the statement of income for each period to reflect the services rendered to the group in that period. (d.1.6.1) Initial recognition For the initial recognition of an insurance contract, the Group accounts for the positive balance of the CSM as part of the LRC for the insurance contracts valued by the BBA method and the VFA method. At initial recognition of a profitable insurance contract, the CSM does not recognize any income (profit). Income (or profit) must only be recognized to the extent that the insurance contract services are rendered. The CSM cannot be negative, any loss at initial moment or subsequent moments must be recognized in the statement of income and recorded as loss component. (d.1.6.2) Subsequent valuation Once the initial recognition of the contract is made, the groups of contracts or Units of Account (UoA) are formed considering their onerosity degree at that moment (additionally to the portfolio and the cohort they belong to); therefore, the CSM shall be measured in the subsequent valuations for the group of contracts. (d.1.7) Loss component Analogous to the CSM, the loss component (LC) is the estimated contract loss. The recording of these two concepts has a different temporality: while the CSM is deferred throughout the contract’s life, the LC must be recognized immediately, thus generating an expense in the statement of income once its existence is known. (d.1.7.1) Determination of the loss component at initial recognition At initial recognition of a non-profitable insurance contract, the LC must generate an expense in the statement of income once its existence is known. In the moment at which the existence of an LC is determined, at each subsequent valuation, it shall be necessary to make the following adjustments: • It shall be allocated exclusively to the LC, until it is reduced to zero. • It shall be allocated in a systematic manner between the LC and the liability for remaining coverage, excluding the LC (LRC excluding the LC); the changes in the fulfillment cash flows of the LRC. (d.1.7.2) Subsequent valuation - Once an LC for a group of onerous contracts has been established, the Group distributes the subsequent changes in the fulfillment cash flows between the LC and the LRC, excluding the LC, by making a systematic allocation between both concepts, as applicable, of the amounts related to: • The release of claims and expenses of the LRC expected cash flows. • Changes in the risk adjustment (RA) recognized in the income for the period. • Financial expenses and income for insurance activities. (d.1.8) Risk Adjustment (RA) - The RA reflects the compensation that the entity requires for assuming the uncertainty that arises from the non-financial risk, over the amount and the moment of payment of the future cash flows of the liability. Under IFRS 17, the RA is an explicit amount and is independent of the estimations of cash flows and discount. The Group calculates the RA for the portfolios of life, pensions, and general insurance insurances with the purpose of quantifying the non-financial risks associated to the insurance contracts and reflecting the uncertainty of the insurance contracts regarding their amount and validity term. However, in the following cases the RI calculation will not be necessary: • In portfolios whose provision for LRC is valued by the PAA method. The products that are valued by the simplified PAA method do not require an explicit RI calculation. • In portfolios whose provision for LRC is valued by the VFA method because the insurance component, and thus the non-financial risks component is not material in this typology of product with direct participation of the insured. (d.2) Accounting policies for insurance activities (Policy applicable before January 1, 2023) The Group applied to insurance contracts the existing accounting policies prior to the adoption of IFRS (i.e., accounting standards established by the SBS for financial and insurance entities in Peru) with certain modifications as described below: • Incurred but not reported claims reserves (IBNR): These reserves were calculated and applied at each recording period using the Chain Ladder methodology, which considers past experience based on cumulative claims losses to estimate future claims developments. • Technical reserves for life annuities and retirement, disability and survival pensions: The Group used the Peruvian mortality tables SPP-S-2017 and SPP-I-2017 (men and women), published by the SBS through Resolution No. 886-2018 dated March 7, 2018, and set the discount interest rate through the Matching Adjustment method plus an illiquidity premium to discount all the pension cash flows. Product classification: Insurance contracts were those contracts where the Group (the insurer) has accepted significant insurance risk from another party (the policyholder) by agreeing to compensate the policyholder for a specified uncertain future event (the insured event) that adversely affects the policyholder. As a general guideline, the Group determined whether it had significant insurance risk by comparing benefits paid with benefits payable if the insured event did not occur. Insurance contracts may also transfer a financial risk. When the contract had a financial component and transfers no relevant insurance risk as established by IFRS 4 “Insurance Contracts”, the contract was recorded based on IFRS 9 “Financial Instruments”. These contracts were presented in the caption “Other accounts payable, provisions and other liabilities” as “Contract liability with investment component” of the consolidated statement of financial position; see Note 10(a). Once a contract had been classified as an insurance contract, it remains as an insurance contract for the remainder of its life, even if the insurance risk is reduced significantly during this period, unless all rights and obligations are extinguished or expire. Life insurance contracts offered by the Group included retirement, disability and survival insurance, annuities and group and individual life. Non-life insurance contracts mainly included SOAT (mandatory individual car accident insurance) and credit card insurance, among others. Insurance receivables: Insurance receivables were initially recognized when due and were measured at the fair value of the consideration received or receivable. Consequently, in its initial recognition, insurance receivables were measured at amortized cost. As of December 31, 2021, the carrying value of the insurance receivables was similar to their fair value due to their short-term maturity. The carrying value of insurance receivables was reviewed for impairment whenever events or circumstances indicated that the carrying amount may not be recoverable, with the impairment loss recorded in the consolidated statement of income. Reinsurance: The Group ceded the insurance risk in the normal course of its operations mainly due to pension fund risks and life insurance risks (individual and group). The reinsurance assets represented balances due and payable by reinsurance companies. Reinsurance was ceded on a proportional basis. The amounts recoverable from the contracts with reinsurers were estimated consistently with the loss reserve pending settlement or losses settled and with the premiums ceded, associated with policies ceded, in accordance with the clauses established in the related reinsurance contracts. Reinsurance assets were reviewed for impairment at each date of the consolidated statement of financial position or more frequently when necessary. Impairment arose when there was objective evidence the Group cannot receive all the outstanding amount’s receivable under the contract terms and the event had a reliably measurable impact on the amounts that the Group obtained from the reinsurer. Impairment loss was registered in the consolidated statement of income. Reinsurance contracts ceded do not released the Group from its obligations to the insured. The liabilities from reinsurance contracts represented balances due and payable to reinsurance companies. The amounts payable was estimated consistently with the related reinsurance contract. Premiums and claims were presented as gross amounts for the reinsurance ceded. Reinsurance assets or liabilities were written off when the contractual rights were extinguished, expired, or when the contract was transferred to a third party. Reinsurance commissions: The commissions from the reinsurance contracts for premiums ceded were amortized on a straight-line basis over the term of the related insurance contract. Insurance contract liabilities: Life insurance contract liabilities were recognized when contracts were entered into. The technical reserves for retirement, disability and survival insurance and annuities were determined as the sum of the discounted value of expected future pensions to be paid during a defined or non-defined period, computed on the basis of current mortality and morbidity tables and current discount interest rates. Individual life technical reserves were determined as the sum of the discounted value of expected future benefits, administration expenses, policyholder options and guarantees and investment income, less the discounted value of the expected premiums that would be required to meet the future cash outflows. Furthermore, the technical reserves for group life insurance contracts comprised the provision for unearned premiums and unexpired risks. Insurance claims reserves include reserves for reported claims and an estimate of the IBNR. As of December 31, 2022, IBNR reserves were determined on the basis of the Chain Ladder methodology, whereby the weighted average of past claims’ development was projected into the future. Adjustments to the liabilities at each reporting date were recorded in the consolidated statement of income. The liability was derecognized when the contract expired, was discharged or cancelled. At each reporting date an assessment was made on whether the recognized life insurance liabilities were sufficient, by using an existing liability adequacy test as established by IFRS 4. In the case of annuities and retirement, disability and survival insurance, this test was conducted by using current assumptions for mortality and morbidity tables and interest rates. As of December 31, 2021, Management determined that liabilities were sufficient and therefore, it had not recorded any additional life insurance contract liability. The accounts payable to reinsurers and coinsurers arose from the ceded premiums issued based on the evaluation of the risk assumed and the losses coming from the reinsurance contracts accepted as well as from the clauses executed for the coinsurance received, and were registered in the item “Accounts payable to reinsurers and coinsurers” that was part of the caption “Other accounts payable, provisions and other liabilities” of the consolidated statement of financial position. Income recognition: Life insurance contracts: Gross premiums on life insurance were recognized as revenue when due from the policyholder. For single premium products, revenue was recognized on the date when the policy is effective. The net premiums earned included the annual variation of technical reserves. Property, casualty and group life insurance contracts: Unearned premiums were those proportions of premiums written in a year that related to periods of risk afterwards the reporting date. Unearned premiums were calculated on a daily pro rata basis. The proportion attributable to subsequent periods was deferred as a provision for unearned premiums. Recognition of benefits, claims and expenses: (i) Gross benefits and claims Gross benefits and claims for life insurance contracts included the cost of all claims arose during the year, including internal and external claims handling costs that were directly related to the processing and settlement of claims. Death, survival and disability claims were recorded on the basis of notifications received. Annuities payments were recorded when due. (ii) Reinsurance premiums Reinsurance premiums comprised the total premiums payable for the whole coverage provided by contracts entered into in the period and were recognized at the date at which the policy was effective. Unearned ceded premiums were deferred during the period of the related insurance contract. (iii) Reinsurance claims Reinsurance claims were recognized when the re la (iv) Acquisition costs Acquisition costs related to the sale of new policies were recognized when incurred. |
Financial instruments: Initial recognition | (e) Financial instruments: Initial recognition - (e.1) Date of recognition Financial assets and liabilities, with the exception of loans, are initially recognized at the trading date. This includes regular transactions of purchases or sales of financial assets that require the delivery of assets within the time frame generally established by regulation or convention on the marketplace. Loans are recognized when the funds are transferred to the customers while deposits and obligations are recognized when the funds are received by the Group. (e.2) Initial measurement of financial instruments The classification of financial instruments at initial recognition depends on the characteristics of the business model and contractual flows for managing the instruments, as described in Notes 3.4(f.1.1) and 3.4(f.1.2). Financial instruments are initially measured at their fair value (as defined in Note 3.4(e.4)), except in the case of financial assets and financial liabilities recorded at fair value through profit or loss, transaction costs are added to, or subtracted from, this amount. Accounts receivable are measured at the transaction price. When the fair value of financial instruments at initial recognition differs from the transaction price, the Group accounts for the Day 1 profit or loss, as described below. (e.3) Day 1 profit or loss When the transaction price of the instrument differs from the fair value at origination and the fair value is based on a valuation technique that only uses inputs observable in market transactions, the Group recognizes the difference between the transaction price and fair value in the net trading income. In those cases where fair value is based on models for which some of the inputs are not observable, the difference between the transaction price and the fair value is deferred and is only recognized in profit or loss when the inputs become observable, or when the instrument is derecognized. (e.4) Measurement categories of financial assets and liabilities The Group classifies all of its financial assets based on the business model and the contractual terms, measured at either: • Amortized cost, as explained in Note 3.4(f.1). • Fair value through other comprehensive income, as explained in Notes 3.4(f.4) and (f.5). • Fair value through profit or loss, as explained in Note 3.4(f.7). The Group classifies and measures its derivative and trading portfolio at fair value through profit or loss as explained in Notes 3.4(f.2) and (f.3). The Group may designate financial instruments at fair value through profit or loss, if so doing eliminates or significantly reduces measurement or recognition inconsistencies, as explained in Note 3.4(f.7). Financial liabilities, other than financial guarantees, are measured at amortized cost or at fair value through profit or loss when they are held for trading, are derivative instruments or the fair value designation is applied, as explained in Note 3.4(f.6). It should be noted that during 2023 and 2022, the Group only presents derivative financial instruments measured in this way. |
Financial assets and liabilities | (f) Financial assets and liabilities - Following is the description of the assets and liabilities held by the Group, as well as the criteria for their classification: (f.1) Assets measured at amortized cost - As required by IFRS 9, the Group measure cash and due from banks inter-bank funds, financial investments in debt instruments, loans and other financial assets at amortized cost if the following two conditions are met: • The financial asset is held within a business model with the objective to hold financial assets to collect contractual cash flows, and • The contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest (SPPI) on the principal amount outstanding. The details of these conditions are presented below: (f.1.1) Business model assessment - The Group’s business model is assessed at a higher level of aggregated portfolios, and not instrument by instrument, and is based on observable factors such as: • How the performance of the business model and the financial assets held within that business model are assessed and reported to the entity’s key management personnel. • The risks that affect the performance of the business model (and the financial assets held within that business model) and, in particular, the way those risks are managed. The expected frequency, value and timing of sales are also important aspects of the Group’s assessment. The business model assessment is based on reasonably expected scenarios without taking “worst case” or “stress case”. If cash flows after initial recognition are realized in a way that is different from the Group’s original expectations, the classification of the remaining financial assets that remain in that business model will not be changed, but incorporates such information when assessing newly purchased financial assets going forward. (f.1.2) The SPPI test (Solely payments of principal and interest) - As a second step of its classification process, the Group assesses the contractual terms to identify whether they meet the SPPI test. “Principal”, for the purpose of this test, is defined as the fair value of the financial asset at initial recognition and may change over the life of the financial asset (for example, if there are repayments of principal or amortization of the premium/discount). The most significant elements within a lending arrangement are the time value of money and credit risk. To perform the SPPI assessment, the Group applies judgement and considers relevant factors such as the currency in which the financial asset is denominated, and the period for which the interest rate is set. In contrast, contractual terms that introduce volatility in the contractual cash flows that are unrelated to a basic lending arrangement do not give rise to contractual cash flows that are solely payments of principal and interest on the amount outstanding. In such cases, the financial asset is required to be measured at fair value through profit or loss. (f.2) Derivatives recorded at fair value through profit or loss - A derivative is a financial instrument or other contract with the following three characteristics: • Its value changes in response to the change in a specified interest rate, financial instrument price, commodity price, foreign exchange rate, index of prices or rates, credit rating or credit index, or other variable; provided that, in the case of a non-financial variable, it is not specific to part of the contract (i.e., the “underlying”). • It requires no initial net investment or an initial net investment that is smaller than the required for other types of contracts expected to have a similar response to changes in market factors. • It is settled at a future date. The Group enters into derivative transactions with various counterparties, such as: interest rate swaps, cross-currency swaps, foreign currency options and foreign currency forward contracts. Derivatives are recorded at fair value and carried as assets when their fair value is positive and as liabilities when their fair value is negative. The notional amount and fair value of such derivatives are presented separately in Note 10(b). Changes in the fair value of derivatives are included in net trading income unless hedge accounting is applied. Hedge accounting disclosures are presented in Note 3.4(j). (f.2.1) Embedded derivatives - An embedded derivative is a component of a hybrid instrument that also includes a non-derivative host contract with the effect that some of the cash flows of the combined instrument vary in a way like a stand-alone derivative. An embedded derivative causes some or all of the cash flows that otherwise would be required by the contract to be modified according to a specified interest rate, financial instrument price, commodity price, foreign exchange rate, index of prices or rates, credit rating or credit index, or other variable, provided that, in the case of a non-financial variable, it is not specific to a party to the contract. A derivative that is attached to a financial instrument, but is contractually transferable independently of that instrument, or has a different counterparty from that instrument, is not an embedded derivative, but a separate financial instrument. Embedded derivatives in financial assets, liabilities and non-financial host contacts, were treated as separate derivatives and recorded at fair value if they met the definition of a derivative (as defined above), their economic characteristics and risks were not closely related to those of the host contract, and the host contract was not itself held for trading or designated at fair value through profit or loss. The embedded derivatives separated from the host contract are carried at fair value in the trading portfolio with changes in the fair value recognized in the consolidated statement of income. In the case of embedded derivatives in financial assets, they are not separated from the financial asset and, therefore, the classification rules are applied to the hybrid instrument in its entirety, as described in Note 3.4(e.4). As of December 31, 2023 and 2022, the Group does not present embedded derivatives in its financial liabilities needed to be separated from the host contract. (f.3) Financial assets or financial liabilities held for trading - The Group classifies financial assets or financial liabilities as held for trading when they have been purchased or issued primarily for short-term profit making through trading activities or form part of a portfolio of financial instruments that are managed together, for which there is evidence of a recent pattern of short-term profit taking. Held-for-trading assets and liabilities are recorded and measured in the consolidated statement of financial position at fair value. Changes in fair value are recognized in the statement of income. Interest income or expense and dividend are recorded in the statement of income according to the terms of the contract, or when the right to payment has been established. Included in this classification are debt securities, equities and short positions that have been acquired mainly for the purpose of selling them in the short term. (f.4) Debt instruments at fair value through other comprehensive income - The Group applies the category of debt instruments measured at fair value through other comprehensive income when both of the following conditions are met: • The instrument is held within a business model, the objective of which is achieved by collecting contractual cash flows and selling financial assets. • The contractual terms of the financial asset meet the SPPI test. Debt instruments at fair value through other comprehensive income are subsequently measured at fair value through other comprehensive income. Interest income and foreign exchange gains and losses are recognized in profit or loss in the same manner as for financial assets measured at amortized cost, as explained in Note 3.4(f.1). The expected credit loss calculation for debt instruments at fair value through other comprehensive income is explained in Note 3.4(h)(iii). When the Group holds more than one investment in the same security, they are deemed to be disposed of on a “first-in first-out” basis. On derecognition, cumulative gains or losses previously recognized in other comprehensive income are reclassified to profit or loss. (f.5) Equity instruments at fair value through other comprehensive income - Upon initial recognition , the Group occasionally elects to classify irrevocably some of its equity investments as equity instruments at at fair value through other comprehensive income when not held for trading. Such classification is determined on an instrument-by-instrument basis. Gains and losses on these equity instruments are never recycled to profit even when the asset is sold. Dividends are recognized in the consolidated statement of income as income when the right of the payment has been established, except when the Group benefits from such proceeds as a recovery of part of the cost of the instrument, in which case, such gains are recorded in other comprehensive income. Equity instruments at fair value through other comprehensive income are not subject to and impairment assessment. (f.6) Financial liabilities - After initial measurement, financial liabilities, except those measured at fair value through profit or loss; see (f.7), are measured at amortized cost. Amortized cost includes commissions and interest, transaction lost and any other premium or discount. A compound financial instrument which contains both a liability and an equity component is separated at the issue date. The Group first establishes whether the instrument is a compound instrument and classifies such instrument’s components separately as financial liabilities, financial assets, or equity instruments in accordance with IAS 32. Classification of the liability and equity components of a convertible instrument is not revised as a result of a change in the likelihood that a conversion option will be exercised, even when exercising the option may appear to have become economically advantageous to some holders. When allocating the initial carrying amount of a compound financial instrument to the equity and liability components, the equity component is assigned as the residual amount after deducting from the entire fair value of the instrument, the amount separately determined for the liability component. The value of any derivative features (such as call options) embedded in the compound financial instrument, other than the equity component (such as an equity conversion option), is included in the liability component. Once the Group has determined the split between equity and liability, it further assesses whether the liability component has embedded derivatives that must be accounted for separately. (f.7) Financial assets and financial liabilities at fair value through profit or loss - Financial assets and financial liabilities in this category are those that are not held for trading and have been either designated by Management upon initial recognition or are mandatorily required to be measured at fair value under IFRS 9. Management designates an instrument at fair value through profit or loss upon initial recognition when one of the following criteria is met: • The designation eliminates, or significantly reduces, the inconsistent treatment that would otherwise arise from measuring the assets or liabilities or recognizing gains or losses on them on a different basis, or • The liabilities are part of a group of financial liabilities which are managed and their performance evaluated on a fair-value basis, in accordance with a documented risk management or investment strategy, or • The liabilities contain one or more embedded derivatives, unless they do not significantly modify the cash flows that would otherwise be required by the contract. Financial assets and liabilities at fair value through profit or loss are recorded in the consolidated statement of financial position at fair value. Changes in fair value are recorded in profit and loss with the exception of movements in fair value of liabilities designated at fair value through profit or loss due to changes in the Group’s own credit risk. Such changes in fair value are recorded in other comprehensive income and do not get reclassified to profit or loss. Interest accrued on assets that must be measured at fair value through profit or loss is recorded using the contractual interest rate. Dividend income from equity instruments measured at fair value through profit or loss is recorded in profit or loss as “Interest and similar income”; see Note 19, when the right to the collection has been established. (f.8) Financial guarantees and letters of credit - The Group issues financial guarantees, and letters of credit. Financial guarantees are initially recognized in the consolidated financial statements (within provisions) at fair value, which is equivalent to the commission received. Subsequent to initial recognition, the recognized liability is measured at the higher amount between: a) amount initially recognized less its cumulative amortization; and b) an Expected Credit Loss (“ECL”) provision determined as set out in Note 3.4(h)(ii). The commission received is recognized in the consolidated statement of income in the caption “Fee income from financial services, net” on a straight-line basis over the life of the guarantee. Letters of credit are commitments under which, over the duration of the commitment, the Group is required to provide a loan with pre-specified terms to the customer. Similar to financial guarantee contracts, these contracts are within the scope of the ECL requirements. The nominal contractual value of financial guarantees and letters of credit, where the loan agreed to be provided is on market terms, is not recorded in the consolidated statement of financial position. The nominal values of these instruments together with the corresponding ECLs are disclosed in Note 6(d). (f.9) Reclassification of financial assets and liabilities - The reclassification of financial assets will take place as long as the business model that manages the financial assets is changed. It is expected that this change is very rare. These changes are determined by Management because of external or internal changes and must be significant for the Group’s operations and demonstrable to third parties. Consequently, a change in the Group’s business model will take place only when it begins or ceases to carry out an activity that is significant for its operations. As of December 31, 2023 and 2022, the Group has not reclassified its financial assets after their initial recognition. Financial liabilities are never reclassified. (f.10) Repurchase agreements - Securities sold under repurchase agreements on a specified future date are not derecognized from the consolidated statement of financial position since the Group retains substantially all of the risks and rewards inherent to its ownership. Cash received is recognized as an asset with the corresponding obligation to return it, including accrued interest, as a liability, reflecting the transaction’s economic substance as a loan to the Group. The difference between the sale and repurchase price is recorded as interest expense and is accrued over the life of the agreement using the effective interest rate and is recognized in the caption “Interest and similar expenses” of the consolidated statement of income. As of December 31, 2023 and 2022, the Group did not keep any repurchase agreements. |
Modification of financial assets and liabilities | (g) Modification of financial assets and liabilities - (g.1) Modification of financial assets - When the contractual cash flows of a financial asset are renegotiated or otherwise modified as a result of commercial restructuring activity rather than due to credit risk and impairment considerations, the Group performs an assessment to determine whether the modifications result in the derecognition of the financial asset. For financial assets, this assessment is based on qualitative factors. When assessing whether or not to derecognize a loan to a customer, among others, the Group considers the following factors: • Change in the loan’s currency. • Introduction of an equity feature. • Change in customer’s credit risk. • If the modification is such that the instrument would no longer meet the SPPI criterion. In addition, the Group evaluates whether there is a material change based on quantitative factors considering whether the present value of the discounted cash flows under the original effective interest rate and the new conditions differs by at least 10 percent from the discounted present value of the remaining cash flows of the original financial asset. This follows an analogy on the orientation of changes in financial liabilities. This method applies to all contractual changes to financial assets, regardless of the reason for the change. The Group made modifications to its agreements with its customers as permitted by the SBS, through its subsidiary Interbank, and performed an analysis described above. The results derived from this evaluation are recognized in profit or loss in the account “Impact from the modification of contractual cash flows due to the loan rescheduling schemes”, in the caption “Interest income and similar”, see note 19. The Group made modifications of its agreements with clients as requested by the SBS and subsequently performed an analysis to assess whether there were cash flows modifications. The amounts resulting from this assessment were recognized as expenses in the impact of the modification of the contractual cash flows due to the rescheduling in the loan payment schemes in Note 19. (g.2) Modification of financial liabilities - When the modification of the terms of an existing financial liability is not judged to be substantial and, consequently, does not result in derecognition, the amortized cost of the financial liability is recalculated by computing the present value of estimated future contractual cash flows that are discounted at the financial liability’s original EIR. Any resulting difference is recognized immediately in profit or loss. Regarding the financial liabilities, the Group considers a substantial amendment based on qualitative factors and provided it exists a difference between the present value of the discounted cash flows under the new conditions and the original book value of the financial liability is larger than ten percent. |
Derecognition of financial assets and liabilities | (h) Derecognition of financial assets and liabilities - (h.1) Derecognition due to substantial change in terms and conditions - The Group derecognizes a financial asset, such as a loan to a customer, when the terms and conditions have been renegotiated to the extent that, substantially, it becomes a new loan, with the difference recognized as a derecognition gain or loss, to the extent that an impairment loss has not already been recorded. (h.2) Derecognition other than for substantial modification - (h.2.1) Financial assets A financial asset (or, where applicable, a part of a financial asset or part of a group of similar financial assets) is derecognized when the rights to receive cash flows from the financial asset have expired. The Group has transferred the financial asset if, and only if, either: • Has transferred its contractual rights to receive cash flows from the financial asset, or • It retains the rights to the cash flows, but has assumed an obligation to pay the received cash flows in full without material delay to a third party under a “pass-through” arrangement. Pass-through arrangements are transactions whereby the Group retains the contractual rights to receive the cash flows of a financial asset (the ‘original asset’), but assumes a contractual obligation to pay those cash flows to one or more entities (the ‘eventual recipients’), when all of the following conditions are met: • The Group has no obligation to pay amounts to the eventual recipients unless it has collected equivalent amounts from the original asset. • The Group cannot sell or pledge the original asset other than as security to the eventual recipients. • The Group has to remit any cash flows it collects on behalf of the eventual recipients without material delay. In addition, the Group is not entitled to reinvest such cash flows, except for investments in cash or cash equivalents including interest earned, during the period between the collection date and the date of agreed revision with the eventual recipients. A transfer only qualifies for derecognition if either: • The Group has transferred substantially all the risks and rewards of the asset, or • The Group has neither transferred nor retained substantially all the risks and rewards of the asset, but has transferred control of the asset. The Group considers that control is transferred if, and only if, the transferee has the ability to sell the asset in its entirety to an unrelated third party and is able to exercise that ability unilaterally. When the Group has neither transferred nor retained substantially all the risks and rewards and has retained control of the asset, the asset continues to be recognized only to the extent of the Group’s continuing involvement, in which case, the Group also recognizes an associated liability. The transferred asset and the associated liability are measured on a basis that reflects the rights and obligations that the Group retains. When the continuing involvement takes the form of a guarantee over the transferred asset, the amount of the Group’s continuing involvement will be the lowest between the asset amount and the maximum amount of consideration the Group may be required to pay. When the continuing involvement takes the form of a written or purchased option (or both) over the transferred asset, the amount of the Group’s continuing involvement will be the amount of the transferred asset that the Group could repurchase. In the case of a written put option on an asset that is measured at fair value, the amount of the Group’s continuing involvement will be limited to the lowest between the fair value of the transferred asset and the option exercising Price. The net loss originated as consequence of the derecognition of financial asset accounts measured at amortized cost is calculated as the difference between the book value (impairment included) and the amount received. As of December 31, 2023 and 2022, the Group did not recognize net losses as consequence of derecognition of financial assets accounts. (h.2.2) Financial liabilities A financial liability is derecognized when the obligation under the liability has been discharged, cancelled or has expired. When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such exchange or modification is treated as a derecognition of the original liability and the recognition of a new liability. The difference between the carrying value of the original financial liability and the consideration paid is recognized in profit or loss of the period . |
Impairment of financial assets | (i) Impairment of financial assets - (i) Overview of the expected credit loss principles - The Group records an allowance for expected credit losses for all loans and other debt financial assets not held at fair value through profit or loss, together with financial guarantee contracts. Equity instruments are not subject to impairment under IFRS 9. The determination of the expected credit loss is based on the credit losses expected to arise over the life of the asset, unless there has been no significant increase in credit risk since origination, in which case, the allowance is based on the 12-month expected credit loss as described in (ii) below. The policies for determining whether there has been a significant increase in credit risk are set out in Note 29.1(d). Both lifetime expected credit loss and 12-month expected credit loss are calculated on either an individual basis or a collective basis, depending on the nature of the portfolio. The Group’s policy for grouping financial assets measured on a collective basis is explained in Note 29.1(d). The Group has established a policy to perform an assessment, at the end of each reporting period, of whether a financial instrument’s credit risk has increased significantly since initial recognition. This is further explained in Note 29.1(d). Based on the above mentioned process, IFS groups its loans into “Stage 1”, “Stage 2”, “Stage 3” and purchased or originated credit impaired financial assets (“POCI”), as described below: Stage 1: When loans are first recognized, the Group recognizes an allowance based on the 12-month expected credit loss. Stage 1 also includes loans whose credit risk has improved and the loan has been reclassified from Stage 2. Stage 2: When a loan has shown a significant increase in credit risk since inception, the Group records an allowance based on the expected credit loss for the entire lifetime of the financial asset. Stage 2 also includes loans whose credit risk has improved and the loan has been reclassified from Stage 3. Stage 3: Loans considered credit impaired (as outlined in Note 29.1(d)). The Group records an allowance for the entire lifetime of the financial asset. POCI: Purchased or originated credit impaired assets are financial assets that are impaired on initial recognition. POCI assets are recorded at fair value at original recognition and interest income is subsequently recognized based on a credit-adjusted EIR. ECLs are only recognized or released to the extent that there is a subsequent change in the expected credit losses. It should be noted that during the year 2023 and 2022, the Group has not purchased or originated POCI financial assets. For financial assets for which the Group has no reasonable expectations of recovering either the entire outstanding amount, or a proportion thereof, the gross carrying amount of the financial asset is reduced. This is considered a (partial) derecognition of the financial asset. The Group recognizes a value correction for expected credit losses on the following financial assets: • Financial assets that are measured at amortized cost. • Financial assets that are measured at fair value with changes in other comprehensive income if the following two conditions are met: (i) The financial asset is maintained within a business model whose objective is achieved by obtaining contractual cash flows and selling financial assets; and (ii) The contractual terms of the financial asset give rise, on specified dates, to cash flows that are only payments of the principal and interest on the outstanding principal amount. • Accounts receivable from leases. • Assets from contracts. • Financial guarantee contracts. In this regard, as of December 31, 2023 and 2022, the Group’s financial assets subject to a correction for expected credit loss are the following: • Cash and due from banks. • Inter-bank funds. • Financial investments; see Notes 3.4(f), 5 and 30.1(e). • Loans; see Notes 3.4(f.1), 6 and 30.1(d). • Due from customers on acceptances. • Other accounts receivable and other assets. The Group assesses periodically impairment alerts derived from factors such as Covid-19, the political and economic context of the country, and the effects of the international conflicts that may affect Peru, with the purpose of timely identifying an increase in the credit loss risk. Thus, for those financial assets other than financial investments and the loan portfolio, Management has estimated the expected credit loss, concluding that it is neither significant nor relevant, given that the maximum period considered for measuring expected credit losses is very small or, even if it implies a longer term, because the main debtor is the Central Reserve Bank (“BCRP”, by its Spanish acronym) or corresponds to cash in vaults of the Group. (ii) Calculation of ECL - The Group calculates ECL based on three probability-weighted scenarios to measure the expected cash shortfalls, discounted at an approximation to the EIR. A cash shortfall is the difference between the cash flows that are due to an entity in accordance with the contract and the cash flows that the entity expects to receive. The mechanics of the ECL calculations are described below, and the key elements are the following: • PD (“Probability of default”) is an estimate of the likelihood of default over a given time horizon. A default may only happen at a certain time over the assessed period, if the financial asset has not been previously derecognized and is still in the portfolio. The definition of PD is further explained in Note 29.1(d). • EAD (“Exposure at default”) is an estimate of the exposure at a future default date, taking into account expected changes in the exposure after the reporting date, including repayments of principal and interest, whether scheduled by contract or otherwise, expected drawdowns on committed facilities, and accrued interest from missed payments. The definition of EAD is further explained in Note 29.1(d). • LGD (“Loss Given Default”) is an estimate of the loss arising in the case where a default occurs at a given time. It is based on the difference between the contractual cash flows due and those that the lender would expect to receive, including from the realization of any collateral. It is usually expressed as a percentage of the EAD. The definition of LGD is further explained in Note 29.1(d). When estimating the ECLs, the Group considers three scenarios (optimistic, base and pessimistic). Each of these is associated with different PDs, as presented in Note 29.1(d). When relevant, the assessment of multiple scenarios also incorporates how defaulted loans are expected to be recovered, including the probability that the loans will “cure” and the value of collateral or the amount that might be received for selling the asset. With the exception of credit cards, for which the treatment is separately set out in (iv) below, the maximum period for which the credit losses are determined is the contractual life of a financial instrument (considering the prepayments) unless the Group has the legal right to call it earlier. Impairment losses and reversals are accounted for and disclosed separately from modification losses or gains that are accounted for as an adjustment of the financial asset’s gross carrying value. The criteria followed for calculating the ECL based on each stage are described below: • Stage 1: The provision for credit losses of those financial instruments that do not show a significant increase in risk since the initial recognition, will be calculated as the expected credit losses in the following 12 months. The group calculates the expectation that there is a probability of default (PD) in the 12 months after the reporting date. To this probability of default is multiplied and expected loss in case of default (LGD) and exposure on the date of default (EAD) and discounting the original effective interest rate. This calculation is made for each of the three scenarios (optimistic, base and pessimistic) defined by the Group. • Stage 2: When the financial instrument shows a significant increase in credit risk since initial recognition, the provision of credit losses of this financial instrument will be calculated as the expected credit loss throughout the life of this asset. The calculation method is similar to that for Stage 1, including the use of multiple scenarios, but expected credit loss is estimated over the lifetime of the instrument. • Stage 3: When there is objective evidence that the financial instrument is impaired, the provision of credit losses will be calculated as the expected credit loss over the life of the asset. The method is similar to that for Stage 2, with the PD set at 100 percent. It is possible that the inputs and models used to calculate the expected loss do not reflect all the characteristics of the market as of the date of the financial statements. This is why that, occasionally, subsequent qualitative adjustments to the model are performed when there are significant differences. See Note 29.1(d.7). Financial guarantee contracts The Group measures each financial guarantee as the highest of the amount initially recognized minus cumulative amortization recognized in the consolidated statement of income, and the ECL provision. For this purpose, the Group estimates ECL based on the present value of the expected payments to reimburse the holder for a credit loss that it incurs. The deficits are discounted by the risk-adjusted interest rate relevant to the exposure. The ECLs related to financial guarantee contracts are recognized in provisions. (iii) Debt instruments measured at fair value through other comprehensive income - The ECLs for debt instruments measured at fair value through other comprehensive income do not reduce the carrying amount of these financial assets in the consolidated statement of financial position, which remains at fair value. However, the expected losses that arise at each measurement date must be reclassified from other comprehensive income to results of the period. (iv) Credit cards - The Group calculates the expected losses in a period that reflects the Group’s expectations regarding the client’s behavior, probability of default and the Group’s future risk mitigation procedures that could include the reduction or cancellation of lines of credit. Based on past experience and the Group’s expectations, the period during which the Group calculates the expected lifetime losses of this product is 16 months for the periods 2023 and 2022. The assessment of whether there has been a significant increase in credit risk for revolving products is similar to other credit products. This is based on changes in the customer’s credit rating, as explained in Note 29.1(d). The interest rate used to discount the ECL for credit cards is based on the average effective interest rate that is expected to be charged over the expected period of exposure to the facilities. This estimation takes into account that many facilities are repaid in full each month and are consequently not charged interest. (v) Forward-looking information - In its expected credit loss models, the Group relies on the following macroeconomic variables as forward-looking information inputs as of December 31, 2023, and 2022: 2023 2022 GDP growth X Private formal employment X Gross capital formation X Consumer X Real domestic demand X X Real formal salary X Real informal salary X Real disposable income per capita X The inputs and models used, see Note 29.1, for calculating ECLs may not always capture all characteristics of the market at the date of the consolidated financial statements. To reflect this, qualitative adjustments or overlays are occasionally made as temporary adjustments when such differences are significantly material. Detailed information about these inputs are provided in Note 29.1(d). (vi) Valuation of guarantees - To mitigate the credit risks on financial assets, the Group generally uses three types of guarantees: physical guarantee, personal guarantees and title guarantees. The guarantee, unless recovered, is not recorded in the Group’s consolidated statement of financial position. However, the fair value of the guarantee affects the calculation of the expected losses, and because of that, it is assessed periodically. The nominal contract value of the guarantees and the letters of credit not used where the loan was agreed to be granted is in market terms, is not recorded in the consolidated statement of financial position. The nominal values of these instruments together with the corresponding expected losses are disclosed in Note 29.1(d). To the extent possible, the Group uses active market data for valuing financial assets held as guarantees. Non-financial guarantees, such as real estate, is valued based on data provided by third parties such as appraisers. (vii) Write-offs - Financial assets are written off only when the Group has stopped pursuing the recovery, at which time the cumulative provision recorded coincides with the total amount of the asset. (viii) Refinanced and modified loans - The Group may make concessions or modifications to the original terms of loans as a response to the borrower’s financial difficulties, rather than taking possession or to otherwise enforce collection of guarantees. Once the terms have been renegotiated, any impairment is measured using the original EIR (as calculated before the modification of terms). It is the Group’s policy to monitor refinanced loans to help ensure that future payments continue to be likely to occur. A refinanced asset is initially classified into Stage 2 and there will be no clean-up period. However, if the financial asset presents a default mark, it will be reclassified from Stage 2 to Stage 3. |
Hedge derivatives | (j) Hedge derivatives - Derivatives are initially recognized at fair value at the date a derivative contract is entered into and are subsequently remeasured at their fair value. All derivatives are recognized as assets when the fair value is positive and they are recorded as “Accounts receivables related to derivative financial instruments” under “Other accounts receivable and other assets, net” and as liabilities when they are negative and they are recorded as “Accounts payable related to derivative financial instruments” under “Other accounts payable, provisions and other liabilities” in the consolidated statement of financial position. Derivatives can be designated as hedging instruments under hedge accounting and in the event that they qualify, depending upon the nature of the hedged item, the method for recognizing gains or losses from changes in fair value will be different. These derivatives, which are used to hedge exposures to risk or modify the characteristics of financial assets and liabilities and that meet IFRS 9 criteria, are recognized as hedging accounting. Derivatives not designated as hedging instruments or that do not qualify for hedging accounting are initially recognized at fair value and are subsequently remeasured at their fair value, which is estimated based on the market exchange rate and interest rate. Gains or losses due to changes in their fair value are recorded in the consolidated statement of income, see Note 3.4(f.2). In accordance with IFRS 9, to qualify for hedge accounting, all of the following conditions must be met: (i) The hedging relationship consists of only hedging instruments and eligible hedged items. (ii) At the inception of the hedge, there is formal designation and documentation of the hedging relationship and the entity’s risk management objective and strategy for undertaking the hedge. This documentation will include the identification of the hedging instrument, the hedged item, the nature of the risk being hedged, and the way the entity will assess if the hedging relationship meets the hedge effectiveness requirements. (iii) The hedging relationship meets all the following hedge effectiveness requirements: • There is an economic relationship between the hedged item and the hedging instrument. • The effect of the credit risk does not dominate the value changes that result from that economic relationship. • The hedge ratio of the hedging relationship is the same as that resulting from the quantity of the hedged item that the entity actually hedges and the quantity of the hedging instrument that the entity actually uses to hedge that quantity of the hedged item. IFRS 9 presents three hedge accounting categories: fair value hedge, cash flow hedge, and hedge of net investments in a foreign operation. The Group uses derivatives as hedging instruments under cash flow hedges, as detailed in Note 10(b). For derivatives that are designated and qualify as cash flow hedge, the effective portion of derivative gains or losses is recognized in other comprehensive income for cash flow hedge and reclassified to income in the same period or periods in which the hedge transaction affects income. The portion of gain or loss on derivatives that represents the ineffective portion or the hedge components excluded from the assessment of effectiveness is recognized immediately in income. Amounts originally recorded in other comprehensive income and subsequently reclassified to income are recorded in the corresponding income or expenses lines in which the related hedged item is reported. When a hedging instrument expires, is sold, when a hedge no longer meets the criteria for hedge accounting or when the Group re-designates a hedge, the cumulative gain or loss existing in other comprehensive income is kept and recognized in income when the hedged item is ultimately recognized in the consolidated statement of income. When a projected transaction is no longer expected to occur, the cumulative gain or loss recognized in other comprehensive income is immediately transferred to the consolidated statement of income. |
Leases | (k) Leases - The determination of whether an arrangement is a lease, or contains a lease, is based on the substance of the arrangement at contract inception: whether the fulfillment of the arrangement is dependent on the use of a specific asset or assets or whether the arrangement conveys a right to use the asset., even if it is not explicitly specified in the contract in exchange for consideration. (i) The Group as a lessee - The Group, as a lessee, applies a single recognition and measurement approach for all leases, except for short-term leases and leases of low-value assets. • Right-of-use assets - The Group recognizes right-of-use assets at the commencement date of the lease (i.e., the date the underlying asset is available for use). Right-of-use assets are measured at cost, less any accumulated depreciation and impairment loss, and adjusted for any remeasurement of lease liabilities. The cost of right-of-use assets includes the amount of lease liabilities recognized, initial direct costs incurred, and lease payments made at or before the commencement date less any lease incentives received. The Group holds as right-of-use assets: land lots, buildings and facilities and furniture and equipment. Land lots do not depreciate; buildings and facilities and furniture and equipment depreciate based on the straight-line method during the lease term and are presented in Note 8 “Property, furniture and equipment, net”, and are subject to impairment. • Lease liabilities - The Group recognizes lease liabilities measured at the present value of lease payments to be made over the lease term. Given that this interest rate implicit in the lease agreement is not easily determinable, in the calculation of the present value of the lease payments, the Group uses the rate it applies to its loans. The lease payments include fixed payments (less any lease incentives receivable), variable lease payments that depend on an index or a rate, and amounts expected to be paid under residual value guarantees. The lease payments also include the exercise price of a purchase option reasonably certain to be exercised by the Group and payments of penalties for terminating the lease, if the lease term reflects exercising the option to terminate. Variable lease payments that do not depend on an index or a rate are recognized as expenses in the period in which the event or condition that triggers the payment occurs. Lease liabilities are presented in Note 10 as “Lease liabilities” in the caption “Other accounts payable, provisions and other liabilities”. The Group performs accounting estimates related to the determination of terms and rates of the lease agreements, as detailed below: • Determination of the lease term for lease contracts with renewal and termination options The Group as a lessee determines the lease term as the non-cancellable term of the lease, together with any periods covered by an option to extend the lease if it is reasonably certain to be exercised, or any periods covered by an option to terminate the lease, if it is reasonably certain not to be exercised. The Group applies judgement in evaluating whether it is reasonably certain whether or not to exercise the option to renew or terminate the lease. That is, it considers all relevant factors that create an economic incentive for it to exercise either the renewal or termination. After the commencement date, the Group reassesses the lease term if there is a significant event or change in circumstances that is within its control that affects its ability to exercise or not to exercise the option to renew or to terminate (e.g., construction of significant leasehold improvements or significant customization of the leased asset). • Estimating the incremental borrowing rate To determine the interest rate implicit in the lease, the Group uses its incremental borrowing rate - “IBR” to measure lease liabilities. The IBR is the rate of interest that the Group would have to pay to borrow over a similar term, and with a similar security, the funds necessary to obtain an asset of a similar value to the right-of-use asset in a similar economic environment. The IBR therefore reflects what the Group ‘would have to pay’, which requires estimation when no observable rates are available or when they need to be adjusted to reflect the terms and conditions of the lease (for example, when leases are not in the subsidiary’s functional currency).The Group estimates the IBR using observable inputs such as the free-risk interest rates, Peruvian government yield curves of global bonds (in Dollars) and sovereign bonds (in Soles), and a credit risk differential, using a spread on the most recent debt issuance. The Group used the exemption proposed by the standard for short term and low value assets; thus, short term and low value lease agreements are kept classified as operating leases, and the disbursements incurred due to these leases are recorded in the caption “Administrative expenses” of the consolidated statement of income. (ii) The Group as a lessor – As of December 31, 2023 and 2022, the Group holds the following types of leases: • Financial leases – Leases in which the Group substantially transfers all risks and benefits related to the ownership of the asset are classified as financial leases. Financial leases are recognized as loans at the present value of the installments. The difference between the total value receivable and the present value of the loan is recognized as accrued interest. This income is recognized during the term of the lease using the effective interest rate method, which reflects a constant rate of return. As of December 31, 2023 and 2022, leasing receivables are subject to the financial asset impairment policy; see Notes 3.4(f.1) and (g). • Operating leases – Leases in which the Group does not substantially transfers all risks and benefits related to the ownership of the asset are classified as operating leases. Lease revenues obtained from investment properties are recorded using the straight-line method for the contract terms, and they are recorded as a revenue in the consolidated statement of income due to their operative nature, except for contingent lease revenues, which are recorded when realized. The lease term is the non-cancelable period, together with any other additional period for which a lessee has the option of continuing with the lease, where, at the start date of the lease, Management is reasonably confident that a lessee will exercise such option. Amounts received from tenants to terminate leases or to compensate impairment of leased facilities are recognized as revenues in the consolidated statement of income when the right to receive them arises. Service charges, administration expenses and other recoverable expenses paid by the lessees and the revenues resulting from expenses charged to the lessees are recognized in the period in which the compensation becomes an account receivable. Service charges and administration expenses and other receipts are included in the gross revenues from rentals of the related costs, given that Management considers that the Group acts as principal party. |
Customer Loyalty Program | (l) Customer Loyalty Program - The Group has a customer loyalty program, which allows customers to accumulate points that can be exchanged for products. Loyalty points give rise to a separate performance obligation as they provide a material right to the customer. A part of the transaction price is allocated to the loyalty points granted to customers on the basis of the relative independent selling price and is recognized as a contractual liability until the points are redeemed and presented as “Other accounts payable” in the item “Other accounts payable, provisions and other liabilities” of the consolidated statement of financial position. Expenses are provisioned monthly regardless of the customer’s redemption of products. By estimating the selling price independent of the loyalty points, the Group considers the probability of a client will use the cumulated points. The Group updates the estimates of points to be monthly redeemed and any adjustment to the liability balance will be recognized in the caption “Administrative expenses” of the consolidated statement of income. |
Services of purchase-sale of financial investments "principal versus agent" | (m) Services of purchase-sale of financial investments “principal versus agent”- The Group has contracts with customers to buy and sell, on their behalf, financial investments on the stock market and over-the-counter market. The Group acts as an agent in these agreements. When another party participates in the supply of services to their client, the Group determines whether it is a principal or an agent in these transactions when evaluating the nature of its agreement with the client. The Group is a principal and records the revenue by gross amounts if it controls the committed services before transferring to the customer. However, if the Group’s role is only to arrange for another entity to provide the services, then the Group is an agent and records the revenues for the net amount it retains for its services as an agent. |
Investments in associates | (n) Investments in associates - An associate is an entity over which the Group has significant influence. Significant influence is the power to participate in the financial and operating policy decisions of the entity, but without having control over those policies. The considerations taken for determining significant influence are similar to those needed to determine control over Subsidiaries. The Group’s investments in its associates are recognized initially at cost and then are accounted for using the equity method. The Group’s investments in associates are included in the caption “Other accounts receivable and other assets, net” of the consolidated statement of financial position, see note 10. Gains resulting from the use of the equity method of accounting are included in the caption “Other income” of the consolidated statement of income. |
Investment property | (o) Investment property - Investment property comprises of land and buildings (mainly shopping malls, educational institutions and offices) that are not occupied substantially for use in the operations of the Group, nor for sale in the ordinary course of business, but are held primarily to earn rental income and capital appreciation. These buildings are substantially rented and not intended to be sold in the ordinary course of business. Investment property comprises completed property and property under construction or re-development. The Group measures its investment property at fair value according to the requirements of IAS 40 “Investment Property”, as it has chosen to use the fair value model as its accounting policy. Investment property is measured initially at cost, including transaction costs, that include transfer taxes, professional fees for legal services and initial leasing commissions to bring the property to the condition necessary to start operating. The carrying amount also includes the cost of replacing part of an existing investment property at the time that cost is incurred if the recognition criteria are met. Properties under construction are measured based on estimates prepared by independent real estate valuation experts, except where such values (e.g. work-in-progress incurred on properties under construction) cannot be readily determined. Accordingly, the work-in-progress incurred on properties under construction is measured at cost until either its fair value becomes reliably measurable or construction is completed (whichever is earlier). Investment property under construction includes the value of land, which is determined by appraisals performed by an accredited appraiser using the price per square meter as a market comparable method. Subsequent to initial recognition, investment property is recorded at fair value. Gains or losses arising from changes in fair values are included in the caption “Net gain on investment property” of the consolidated statement of income in the year in which they arise. Fair values are assessed periodically by Management, based on the discounted cash flows that are expected to be obtained from these investments. Fair values of investment properties under construction or investment properties held to operate in the future are assessed by an independent external appraiser, through the application of a recognized valuation model. See Note 7 for details of fair value and related assumptions. Transfers to or from investment property are made only when a change in the asset’s use exists. If a component of property, furniture and equipment is transferred to an investment property, the Group transfers the net cost of the fixed asset to the caption investment property and subsequently measures the asset at fair value, with any gain recognized in “Retained earnings” directly in equity. In the case of a transfer from an investment property to the caption property, furniture and equipment, the reclassified amount corresponds to the fair value of the asset at the date of usage change. The amount recorded in the caption “Retained earnings” of the consolidated statement of changes in equity is recognized in the income of the period as the component of property, furniture and equipment is depreciated; or if said component is disposed, the cumulative balance is recognized directly in the consolidated statement of income. During 2023, the Group transferred two floors from caption “Investment property” part of the “Orquideas” building, located in San Isidro, Lima, to caption “Property, furniture and equipment” for S/ Additionally, the Group transferred another floor from caption “Property, furniture and equipment “ part of the “Orquideas” building, located in San Isidro, Lima, to caption “Investment property”, for (during 2022, the Group transferred from caption “Property, furniture and equipment “ part of the “Orquideas and Andres Reyes “ buildings, located in San Isidro, Lima, to caption “Investment property”, for Investment property is derecognized when it has been disposed or withdrawn from use and no future economic benefit is expected from its disposal. The difference between the net disposal proceeds and the carrying amount of the asset would result in either gains or losses at the retirement or disposal of investment property. Any gains or losses are recognized in the consolidated statement of income of the year of retirement or disposal. |
Property, furniture and equipment | (p) Property, furniture and equipment, net - Property, furniture and equipment are stated at historical acquisition cost less residual value, cumulative depreciation and impairment losses, if applicable. The historical acquisition cost includes the expenses that are directly attributable to the acquired property, furniture or equipment. Maintenance and repair costs are charged to the consolidated statement of income; significant renewals and improvements are capitalized when it is probable that future economic benefits, in excess of the originally assessed standard of performance, will result from the use of the acquired property, furniture or equipment. Land does not depreciate. Depreciation of property, furniture and equipment is calculated using the straight-line method over the estimated useful lives, which are as follows: Years Buildings and facilities 40 - 75 Leasehold improvements 5 Furniture and equipment 10 Vehicles 5 An item of property, furniture and equipment and any significant part initially recognized, is derecognized upon disposal or when no future economic benefits are expected from its use or disposal. Any gain or loss arising from the derecognition of the asset (calculated as the difference between the net disposal proceeds and the carrying amount of the asset) is included in the consolidated statement of income. The residual value of each asset, its useful life and the selected depreciation method are periodically reviewed to ensure that they are consistent with current economic benefits and useful life expectations. |
Assets seized through legal actions | (q) Assets seized through legal actions - Assets seized through legal actions are recorded in the item “Others” of the caption “Other accounts receivable and other assets, net” of the consolidated statement of financial position, see Note 10; and are recognized at the lower value between the cost or the estimated market value (minus cost to sell), determined from valuations made by independent appraisers. Reductions in book value are recorded in the consolidated statement of income. |
Intangible assets with finite useful lives | (r) Intangible assets with finite or indefinite useful lives - Intangible assets with finite or indefinite useful lives are included in the caption “Intangibles and goodwill, net” of the consolidated statement of financial position. Intangibles assets acquired separately are measured on initial recognition at cost. The cost of intangible assets acquired in a business combination is their fair value at the date of acquisition. Intangibles assets with finite useful lives include costs incurred in connection with the acquisition of computer software used in operations and other minor intangible assets. The amortization expense is calculated following the straight-line method over the useful life estimated between four Intangibles assets with indefinite useful lives are not amortized, but are tested for impairment annually, either individually or at the cash-generating unit level. The assessment of indefinite life is reviewed annually to determine whether the indefinite life continues to be sustainable. If not, the charge in useful life from indefinite to finite is made on a prospective basis. |
Goodwill | (s) Goodwill - Goodwill is initially measured at cost, being the excess of the aggregate of the consideration transferred and the amount recognized for non-controlling interests, and any previous interest held, if any, over the net identifiable assets acquired and liabilities assumed. If the fair value of net assets acquired is in excess of the aggregate consideration transferred, the Group re-assesses whether it has correctly identified all of the assets acquired and all the liabilities assumed and reviews the procedures used to measure the amounts to be recognized at the acquisition date. If from the reassessment still results in an excess of fair value of net assets acquired over the aggregate consideration transferred, then the gain is recognized in the consolidated statement of income. After initial recognition, goodwill is measured at cost less any cumulative impairment loss, if any. A goodwill impairment testing is performed on a yearly basis. To perform an impairment testing, goodwill acquired in a business combination is allocated, since the acquisition date, to one of the Group’s cash-generating units (henceforth “CGU”) that are expected to benefit from the business combination, irrespective of whether other assets or liabilities of the acquirer are assigned to those units. Goodwill impairment is determined by assessing the recoverable amount of each CGU (or group of CGUs) to which the goodwill relates. When the recoverable amount of the CGU is less than its carrying amount, an impairment loss is recognized. Impairment losses relating to goodwill cannot be reversed in future periods. Where the goodwill has been allocated to the CGU and part of the operation within that unit is disposed of, the goodwill associated to the disposed operation is included in the carrying amount of the operation when determining the gain or loss of disposal. Goodwill dispensed in these circumstances is measured based on the relative values of the disposed operation and the withheld portion of the CGU retained. Goodwill, recorded by the Group; see Note 9(b), arises from the acquisition of Izipay, allocated to the CGU of Payments business unit and, Seguros Sura, allocated to the CGU of the insurance business unit. |
Business combinations | (t) Business combinations - Business combinations are accounted for using the acquisition method established by IFRS 3 “Business Combinations”. The cost of an acquisition is measured as the aggregate of the consideration transferred, which is measured at the acquisition date’s fair value, and the amount of any non-controlling interests in the acquiree. For each business combination, the Group chooses whether to measure the non-controlling interests in the acquiree at fair value or at the proportionate share of the acquiree’s identifiable net assets. Acquisition-related costs are expensed as incurred and included in the caption “Administrative expenses” of the consolidated statement of income, see Note 1(d). The Group determines that it has acquired a business when the acquired set of activities and assets include an input and a substantive process that together significantly contribute to the ability to create outputs. The acquired process is considered substantive if it is critical for the capacity to the ability to continue producing outputs , and the inputs acquired include an organized workforce with the necessary skills, knowledge or experience to perform that process or it significantly contributes to the ability to continue producing outputs and is considered unique or scarce or cannot be replaced without incurring in significant costs, effort or delay in the ability of continue producing outputs. When the Group acquires a business, it assesses the financial assets and liabilities assumed for appropriate classification and designation in accordance with the contractual terms, economic circumstances and pertinent conditions at the acquisition date. This includes the separation of embedded derivatives in host contracts by the acquiree. Any contingent consideration to be transferred by the acquirer is recognized at fair value at the acquisition date. Contingent consideration classified as an asset or liability that is a financial instrument and within the scope of IFRS 9 “Financial Instruments: Recognition and Measurement”, is measured at fair value with the changes in the consolidated statement of income or in the consolidated statement of other comprehensive income. If the contingent consideration is not within the scope of IFRS 9, it is measured according to the applicable IFRS. The contingent consideration that is classified as equity must not be remeasured and subsequent settlement is recorded in equity. As of December 31, 2023 and 2022, there have been no contingencies arising from business combinations. A business combination between entities or businesses under common control is beyond the scope of IFRS 3, because it corresponds to a business combination in which all entities or businesses that are combined are ultimately controlled by the same part or parts, both before and after the business combination. In these transactions, the Group recognizes the assets acquired under the method of unification of interest, whereby the assets and liabilities of the combined companies are reflected in their book values and no commercial credit is recognized as a result of the combination. |
Impairment of non-financial assets | (u) Impairment of non-financial assets - Property, furniture and equipment, right-of-use assets and intangible assets with a finite life are assessed to determine whether there are any indications of impairment as of the closing of each period. If any indication exists, the Group estimates the asset’s recoverable value. The recoverable amount of the assets is the highest between the value of an asset or a CGU less the costs of sale and its use value, and it is determined for an individual asset, unless the asset does not generate cash revenues that are largely independent from those of other assets or groups of assets. When the carrying amount of an asset or CGU exceeds its recoverable amount, the asset is considered impaired and is written down to its recoverable amount. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. In determining fair value minus costs to sell, an appropriate valuation model is used. Intangible assets with indefinite useful lives, including goodwill, are tested for impairment annually to determine if circumstances indicate that the value of the recoverable amount of the asset or a CGU (or group of CGUs) is greater than its carrying amount or recognize an impairment loss. Impairment losses relating to goodwill cannot be reversed in future periods. |
Due from customers on acceptances | (v) Due from customers on acceptances - Due from customers on acceptances corresponds to accounts receivable from customers for import and export transactions, whose obligations have been accepted by the Group. The obligations that must be assumed by the Group for such transactions are recorded as liabilities. |
Defined contribution pension plan | (w) Defined contribution pension plan - The Group only operates a defined contribution pension plan. The defined contribution payable in the pension plan is in proportion to the services rendered to the Group by the employees and it is recorded as an expense in the caption “Salaries and employee benefits” of the consolidated statement of income. Unpaid contributions are recorded as liabilities. |
Provisions | (x) Provisions - Provisions are recognized when the Group has a present obligation (legal or implicit) as a result of a past event, and it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. The expense relating to any provision is presented in the consolidated statement of income, net of any reimbursement. If the effect of the time value of money is material, provisions are discounted using a pre-tax rate that reflects, where appropriate, the specific risks of the liability. When discounting is used, the increase in the provision due to the passage of time is recognized as a financial expense. |
Contingencies | (y) Contingencies - Contingent liabilities are not recognized in the consolidated financial statements, but are disclosed in notes to the consolidated financial statements, unless the probability of an outflow of resources is remote. Contingent assets are not recorded in the consolidated financial statements, but they are disclosed if it is probable that an inflow of economic benefits will emerge. |
Fair value measurement | (z) Fair value measurement - Fair value is the price that would be received for the sale of an asset or paid for the transfer of a liability in an orderly transaction between market participants at the measurement date. The fair value measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes place either: • On the principal market for the asset or liability; or • In the absence of a principal market, on the most advantageous market for the asset or liability. The principal or the most advantageous market must be accessible by the Group. Also, the fair value of a liability reflects its non-performance risk. The fair value of an asset or a liability is measured using the assumptions that market participants would use when pricing the asset or liability, assuming that market participants act in their economic best interest. When possible, the Group measures the fair value of a financial instrument using the quoted price in an active market for that instrument. A market is regarded as active if transactions for the asset or liability take place with sufficient frequency and volume to provide pricing information on an ongoing basis. If there is no quoted price on an active market, then the Group uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure the fair value, maximizing the use of relevant and observable data and variables, and minimizing the use of unobservable data and variables. The chosen valuation technique incorporates all of the factors that market participants would take into account in pricing a transaction. In the case of investment property, the Group has considered the specific requirements relating to highest and best use, valuation of premises and principal (or most advantageous) market. The determination of investment property fair value requires the use of estimations such as the future cash flows of the assets (e.g., leases, sales, fixed rents for the different lessees, variable rents based on the sales percentage, operating costs, construction costs, maintenance costs and the use of discount rates). Additionally, real estate development risks (such as construction and abandonment) are also taken into account when determining the fair value of the land related to the investment property under construction. The fair value of investment property in the consolidated statement of financial position must reflect the volatile nature of real estate markets; therefore, Management and its appraisers use their market knowledge and professional criteria and do not depend solely on historical comparable transactions. In this sense, there is a higher degree of uncertainty than when a more active market exists for the estimation of fair value. Significant methods and assumptions used in the estimation of fair value of investment property are detailed in Note 7. All assets and liabilities for which the fair value is measured or disclosed in the consolidated financial statements are categorized within the fair value hierarchy described below: • Level 1 - Quoted (unadjusted) market prices in active markets for identical assets or liabilities. • Level 2 - Valuation techniques for input that is significant to the fair value measurement is directly or indirectly observable. • Level 3 - Valuation techniques for which data and variables of the lowest significant level to measure fair value are unobservable. For assets and liabilities that are recognized at fair value in the consolidated financial statements on a recurring basis, the Group determines whether transfers have occurred between levels in the hierarchy by re-assessing categorization at the end of each reporting period. For the purpose of fair value disclosures, the Group has determined classes of assets and liabilities on the basis of the nature, characteristics and risks of the asset or liability and the level of hierarchy of the fair value, as explained above. Fair values of financial instruments measured at amortized cost are disclosed in Note 31(b). |
Income Tax | (aa) Income Tax - Income Tax is computed based on the separate financial statement of each Subsidiary. Deferred Income Tax is accounted for in accordance with IAS 12 “Income Taxes”. In this sense, the deferred Income Tax reflects the effects of temporary differences between the carrying amounts of assets and liabilities for accounting purposes and the amounts determined for tax purposes. Deferred assets and liabilities are measured using the tax rates that are expected to be in force in the years in which such temporary differences are expected to be recovered or settled. Consequently, the deferred Income Tax has been calculated by applying the rates that are in force; see Note 17(c). The measurement of deferred tax assets and deferred tax liabilities reflects the tax consequences that arise from the manner in which each individual entity of the Group expects, at the consolidated statement of financial position dates, to recover or settle the carrying amount of their assets and liabilities. Deferred tax assets and liabilities are recognized regardless of when the temporary differences are likely to reverse. Deferred tax assets are recognized when it is probable that sufficient taxable income will be generated against which the deferred tax assets can be offset. At each consolidated statement of financial position date, unrecognized deferred assets and the carrying amount of deferred tax assets registered are assessed. A previously unrecognized deferred tax asset is recognized to the extent that it has now become probable that future taxable income will allow the deferred tax asset to be recovered. Likewise, the carrying amount of a deferred tax asset is reduced when it is no longer probable the generation of a sufficient taxable income that allow the application of the tax deferred asset. According to IAS 12, the deferred Income Tax is determined by applying the Income Tax rate applicable to the retained earnings, recognizing any additional tax on distribution of dividends that may arise on the date when the liability is recognized. |
Segment information | (ab) Segment information - IFRS 8 “Operating Segments” requires that the information of operating segments be disclosed consistently with information provided by the chief operating decision maker, who allocates resources to the segments and assesses their performance. Segment information is presented in Note 27. |
Fiduciary activities and management of funds | (ac) Fiduciary activities and management of funds - The Group provides trust management, investment management, advisory and custody services to third parties that result in the holding of assets on their behalf. These assets and the income arising thereon are excluded from these consolidated financial statements, as they are not assets of the Group; see Note 31. Commissions generated from these activities are included in the caption “Fee income from financial services, net” of the consolidated statement of income. |
Earnings per share | (ad) Earnings per share - The amount of basic earnings per share is calculated by dividing the net profit for the year attributable to common shareholders by the weighted average number of common shares outstanding during the year. As of December 31, 2023 and 2022, the Group does not have financial instruments with dilutive effect, therefore, basic and diluted earnings per share are identical for the years reported. |
Capital surplus | (ae) Capital surplus - It is the difference between the nominal value of shares issued and their public offering price made in 2007 and 2019. Capital surplus is presented net of expenses incurred in the issuance of shares. |
Treasury stock | (af) Treasury stock - Shares repurchased are recorded in the shareholders’ equity under treasury stock caption at their purchase price. No loss or gain is recorded in the consolidated statement of income arising from the purchase, sale, issuance or amortization of these instruments. Shares that are subsequently sold are recorded as a reduction in treasury stock, measured at the average price of treasury stock held at such date; and the resulting gain or loss is recorded in the consolidated statement of changes in net equity in the caption “Retained earnings”. |
Cash and cash equivalents | (ag) Cash and cash equivalents - Cash presented in the consolidated statement of cash flows includes cash and due from banks balances with original maturities lower than three months, excludes the restricted funds, which are subject to an insignificant risk of changes in value. The cash and cash equivalent item does not include accrued interest. On the other hand, the cash collateral committed as part of a repurchase agreement is included in the “Cash and due from banks” caption of the consolidated statement of financial position; see Note 4(d). |
Business activity, current co_2
Business activity, current context and acquisition of Subsidiaries (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Business activity, current context and acquisition of Subsidiaries [Abstract] | |
Summary of fair value of the assets and liabilities of the acquired entities | The fair values of the assets and liabilities of the acquired entities as of March 31, 2022, the date closest to the takeover, are presented below: Fair value of the acquired entities S/(000) Assets - Cash 119,432 Trade accounts receivable and other receivables 178,982 Inventory 13,600 Deferred assets 102,687 Property, furniture and equipment, Note 8(a) 83,486 Right-of-use assets, Note 8(a) 6,593 Intangibles, Note 9(a) 331,421 Deferred income tax asset 11,014 Other assets 3,903 Liabilities - Financial obligations 26,251 Trade accounts payable and other payables 319,456 Deferred income 25,190 Lease liability 6,593 Other liabilities 223 Deferred income tax liability, Note 15(a) 86,541 Total identifiable net assets at fair value 386,864 Goodwill, Note 9(a) 238,429 Fair value of acquired entities 625,293 |
Summary of net cash flow incurred in acquisition | The net cash flow incurred as a result of the acquisition is presented below: S/(000) Total price paid 312,647 Cash of acquired companies (119,432 ) 193,215 |
Subsidiaries (Tables)
Subsidiaries (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of subsidiaries [abstract] | |
Summary of Consolidated Financial Statements of Subsidiaries | The table below presents a summary of the consolidated financial statements of the main Subsidiaries, before adjustments and eliminations for consolidation, as of December 31, 2023 and 2022, in accordance with the IFRS. Additionally, for information on business segments, see Note 27: Interbank and Interseguro - Note 3.7 Inteligo and Izipay 2023 2022 2023 2022 2023 2022 2023 2022 S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Consolidated statement of financial position - Cash and due from banks 8,598,513 11,052,299 266,311 631,156 844,965 1,457,446 130,149 111,087 Financial Investments 11,964,232 9,586,343 12,776,783 11,295,068 1,855,074 1,698,229 56,459 — Loans, net 45,004,811 43,725,346 — — 1,519,659 1,784,343 — — Investment property — — 1,298,892 1,287,717 — — — — Total assets 68,437,614 66,977,277 14,741,746 13,636,383 4,374,266 5,102,598 1,196,049 902,610 Deposits and obligations 46,053,607 44,597,855 — — 3,311,719 4,098,842 — — Due to banks and correspondents 8,669,331 6,726,595 215,560 308,164 84,004 53,937 61,024 18,584 Bonds, notes and other obligations 4,253,188 6,571,539 244,599 251,524 — — — — Insurance contract liabilities — — 12,068,741 11,092,526 — — — — Total liabilities 60,380,895 59,498,433 13,709,303 12,665,533 3,453,408 4,208,369 946,660 686,292 Equity attributable to IFS’s shareholders 8,056,719 7,478,844 1,032,443 970,850 920,858 894,229 249,389 216,318 Consolidated statement of income - Net interest and similar income 3,712,220 3,297,436 778,649 861,964 85,556 104,810 4,348 300 (Loss) recovery due to impairment on loans, net of recoveries (1,981,988 ) (832,919 ) — — 170 2,368 — — Recovery (loss) due to impairment of financial investments 15 (732 ) (7,858 ) (26 ) 347 (11,981 ) — — Net gain of investment property — — 7,111 19,146 — — — — Fee income from financial services, net 813,279 797,711 (13,431 ) (7,160 ) 146,223 163,325 345,583 258,728 Result from insurance activities, before expenses — — (178,379 ) (252,854 ) — — — — Net profit (loss) for the year attributable to IFS’s shareholders 856,149 1,374,121 359,550 320,457 36,180 (141,395 ) 33,069 41,074 |
Significant accounting polici_3
Significant accounting policies (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Text Block [Abstract] | |
Summary of Expected Credit Loss Models Relies on Macroeconomic Variables | In its expected credit loss models, the Group relies on the following macroeconomic variables as forward-looking information inputs as of December 31, 2023, and 2022: 2023 2022 GDP growth X Private formal employment X Gross capital formation X Consumer X Real domestic demand X X Real formal salary X Real informal salary X Real disposable income per capita X |
Summary of Estimated Useful Lives | Depreciation of property, furniture and equipment is calculated using the straight-line method over the estimated useful lives, which are as follows: Years Buildings and facilities 40 - 75 Leasehold improvements 5 Furniture and equipment 10 Vehicles 5 |
Summary of The Impact of the Adoption of IFRS 17 | This table presents the impact of the adoption of IFRS 17 in the consolidated statements of financial position as of January 1, 2022 and December 31, 2022. In addition, it presents the reconciliation between the book values according to IFRS 4 and the balances reported according to IFRS 17: As of December 31, 2022 As of January 1, 2022 IFRS 4 Adjustments for first adoption of IFRS 17 Ref IFRS 17 IFRS 4 Adjustments for first adoption of IFRS 17 Ref IFRS 17 S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Asset Cash and due from banks 13,193,411 — 13,193,411 17,104,465 — 17,104,465 Financial investments 22,787,598 — 22,787,598 24,547,294 — 24,547,294 Loans, net 45,502,998 — 45,502,998 43,005,583 — 43,005,583 Intangibles and goodwill, net 1,633,202 — 1,633,202 1,044,749 — 1,044,749 Other accounts receivable and other assets, net 1,778,559 (34,596 ) A 1,743,963 1,887,454 (52,971 ) A 1,834,483 Reinsurance contract assets — 34,053 A 34,053 — 53,849 A 53,849 Other assets 2,586,864 — 2,586,864 2,364,364 — 2,364,364 Total asset 87,482,632 (543 ) 87,482,089 89,953,909 878 89,954,787 Liability Deposits and obligations 48,530,708 — 48,530,708 48,897,944 — 48,897,944 Due to banks and correspondents 7,100,646 — 7,100,646 8,522,849 — 8,522,849 Bonds, notes and other obligations 7,906,303 — 7,906,303 8,389,672 — 8,389,672 Insurance and reinsurance contract liabilities 10,602,372 628,949 B 11,231,321 11,958,058 830,771 B 12,788,829 Other accounts payable, provisions and other liabilities 3,138,932 (9,768 ) B 3,129,164 2,477,601 (9,359 ) B 2,468,242 Other liabilities 157,720 — 157,720 152,423 — 152,423 Total liability 77,436,681 619,181 78,055,862 80,398,547 821,412 81,219,959 Equity Equity attributable to IFS’s shareholders: Capital stock, net of treasury stock 1,034,654 — 1,034,654 1,034,654 — 1,034,654 Capital surplus and reserves 6,532,771 — 6,532,771 5,732,771 — 5,732,771 Unrealized results, net (613,280 ) 58,859 C (554,421 ) (168,300 ) (134,177 ) C (302,477 ) Retained earnings 3,037,030 (677,566 ) D 2,359,464 2,904,912 (685,010 ) D 2,219,902 9,991,175 (618,707 ) 9,372,468 9,504,037 (819,187 ) 8,684,850 Non-controlling interest 54,776 (1,017 ) 53,759 51,325 (1,347 ) 49,978 Total equity 10,045,951 (619,724 ) 9,426,227 9,555,362 (820,534 ) 8,734,828 Total liabilities and equity 87,482,632 (543 ) 87,482,089 89,953,909 878 89,954,787 A. Corresponds to the recording of the insurance contract asset under IFRS 17. B. Corresponds to the net reversal amount of insurance contract liabilities under IFRS 4 and the recording of the insurance contract liability under IFRS 17. C. As of January 1, 2022, corresponds to the reversal of other comprehensive income resulting from the difference of the discount rate used to discount the flows of insurance contract liabilities. This practice was used for annuities, retirement and SCTR under IFRS 4. This transition approach is in accordance with the guidelines of IFRS 17. As of December 31, 2022, corresponds to the constitution of the “look-in rate” effect versus the market rate. D. Corresponds to the impact on retained earnings due to the first adoption of IFRS 17. This table presents the impact of adopting IFRS 17 to the consolidated statement of income for the year ended December 31, 2022: IFRS 4 Adjustments for first adoption of IFRS 17 Ref IFRS 17 S/(000) S/(000) S/(000) Interest and similar income 5,871,302 5,871,302 Interest and similar expenses (1,662,098 ) 409 (1,661,689 ) Net interest and similar income 4,209,204 409 4,209,613 Impairment loss on loans, net of recoveries and financial investments (843,303 ) — (843,303 ) Net interest and similar income after impairment loss 3,365,901 409 3,366,310 Total other income 1,679,832 (21 ) 1,679,811 Insurance premiums and claims Net premiums earned 668,197 (668,197 ) A — Net claims and benefits incurred for life insurance contracts and others (859,991 ) 859,991 A — Total insurance premiums and claims (191,794 ) 191,794 — Result from insurance activities — (252,854 ) A (252,854 ) Total other expenses (2,683,909 ) 56,771 (2,627,138 ) Income before translation result and Income Tax 2,170,030 (3,901 ) 2,166,129 Exchange difference (36,836 ) 11,358 (25,478 ) Income Tax (462,537 ) — (462,537 ) Net profit for the year 1,670,657 7,457 1,678,114 Attributable to: IFS’s shareholders 1,660,581 7,445 1,668,026 Non-controlling interest 10,076 12 10,088 1,670,657 7,457 1,678,114 Earnings per share attributable to IFS’s shareholders, basic and diluted (stated in Soles) 14.388 14.452 Weighted average number of outstanding shares (in thousands) 115,418 — 115,418 A. Corresponds to the net reversal amount of insurance premiums and claims for insurance contracts under IFRS 4 and the recording of the result from insurance activities under IFRS 17. |
Cash and due from banks and i_2
Cash and due from banks and inter-bank funds (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Cash and cash equivalents [abstract] | |
Summary of cash and due from banks | (a) The detail of cash and due from banks is as follows: 2023 2022 S/(000) S/(000) Cash and clearing (b) 2,248,845 2,865,251 Deposits in the BCRP (b) 5,215,762 6,918,526 Deposits in banks (c) 1,609,604 2,923,999 Total cash and cash equivalent 9,074,211 12,707,776 Accrued interest 23,809 17,391 Restricted funds (d) 720,691 468,244 Total 9,818,711 13,193,411 |
Summary of legal reserve and restricted funds | (b) In accordance with rules in force, Interbank is required to maintain a legal reserve to honor its obligations with the public. This reserve is comprised of funds kept in Interbank and in the BCRP and is made up as follows: 2023 2022 S/(000) S/(000) Legal reserve (*) Deposits in the BCRP 4,593,592 6,055,726 Cash in vaults 2,005,760 2,719,277 Subtotal legal reserve 6,599,352 8,775,003 Non-mandatory reserve Overnight deposits in BCRP (**) 622,170 762,800 Cash and clearing 243,029 145,903 Term deposits in BCRP (***) — 100,000 Subtotal non-mandatory reserve 865,199 1,008,703 Cash balances not subject to legal reserve 56 71 Total 7,464,607 9,783,777 (d) The Group maintains restricted funds related to: 2023 2022 S/(000) S/(000) Inter-bank transfers (*) 694,118 431,052 Derivative financial instruments, Note 10(b)(i) and Note 29.1(g.2) 24,725 34,784 Others 1,848 2,408 Total 720,691 468,244 |
Financial investments (Tables)
Financial investments (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of financial assets [abstract] | |
Summary of financial investments | (a) This caption is made up as follows: 2023 2022 S/(000) S/(000) Debt instruments measured at fair value through other comprehensive income 20,912,184 16,716,517 Investments at amortized cost (d) 3,383,014 3,231,139 Investments at fair value through profit or loss (e) 1,556,540 1,932,993 Equity instruments measured at fair value through other comprehensive income (f) 444,878 512,884 Total financial investments 26,296,616 22,393,533 Accrued income Debt instruments measured at fair value through other comprehensive income (b) 334,385 322,425 Investments at amortized cost (d) 90,990 71,640 Total 26,721,991 22,787,598 |
Summary of debt instruments measured at fair value through other comprehensive income | (b) Following is the detail of debt instruments measured at fair value through other comprehensive income: Unrealized gross amount Annual effective interest rates Amortized cost Gains Losses (c) Estimated fair value Maturity S/ US$ S/(000) S/(000) S/(000) S/(000) Min Max Min Max % % % % 2023 Corporate, leasing and subordinated bonds (*) 9,443,384 83,511 (865,654 ) 8,661,241 Jan-24 Feb-97 2.22 14.52 4.00 18.00 Sovereign Bonds of the Republic of Peru (**) 8,320,671 13,599 (558,282 ) 7,775,988 Aug-24 Feb-55 0.95 6.82 — — Negotiable Certificates of Deposit issued by the Central Reserve Bank of Peru (***) 3,445,361 3,638 (15 ) 3,448,984 Jan-24 Sep-2 5.60 6.66 — — Bonds guaranteed by the Peruvian Government 475,542 7,810 (9,722 ) 473,630 Oct-24 Oct-33 2.81 4.65 7.39 7.92 Global Bonds of the Republic of Peru 498,897 — (35,564 ) 463,333 Jul-25 Dec-32 — — 4.76 5.23 Treasury Bonds of the United States of America 76,556 26 (3,252 ) 73,330 Jan-24 Feb-32 — — 3.87 5.00 Global Bonds of the United States of Mexico 17,769 — (2,091 ) 15,678 Feb-34 — — 5.51 5.51 Total 22,278,180 108,584 (1,474,580 ) 20,912,184 Accrued interest 334,385 Total 21,246,569 Unrealized gross amount Annual effective interest rates Amortized Gains Losses (c) Estimated Maturity S/ US$ S/(000) S/(000) S/(000) S/(000) Min Max Min Max % % % % 2022 Corporate, leasing and subordinated bonds (*) 8,707,969 9,477 (1,143,244 ) 7,574,202 Jan-23 Feb-97 1.60 13.26 5.10 13.14 Sovereign Bonds of the Republic of Peru (**) 7,878,445 590 (1,270,254 ) 6,608,781 Sep-23 Feb-55 1.89 8.14 — — Variable interest Certificates of Deposit issued by the Central Reserve Bank of Peru 1,434,752 89 (5 ) 1,434,836 Jan-23 Mar-23 7.29 7.46 — — Bonds guaranteed by the Peruvian Government 512,316 1,698 (26,286 ) 487,728 Oct-24 Oct-33 3.48 6.01 6.86 8.25 Global Bonds of the Republic of Peru 508,813 — (55,527 ) 453,286 Jul-25 / Dec-32 — — 5.18 5.60 Global Bonds of the Republic of Colombia 82,836 — (2,026 ) 80,810 Mar-23 Feb-24 — — 6.07 6.23 Negotiable Certificates of Deposit issued by the Central Reserve Bank of Peru 44,234 — (366 ) 43,868 Mar-23 2.28 2.28 — — Treasury Bonds of the United States of America 21,387 — (3,661 ) 17,726 Nov-31 Feb-32 — — 3.85 3.85 Global Bonds of the United States of Mexico 18,240 — (2,960 ) 15,280 Feb-34 6.06 6.06 Total 19,208,992 11,854 (2,504,329 ) 16,716,517 Accrued interest 322,425 Total 17,038,942 (*) As of December 31, 2023 and 2022, Inteligo holds corporate bonds from several entities for approximately S/101,215,000 and S/116,603,000, respectively, which guarantee loans with Bank J. Safra Sarasin, see Note 12(d.12). (**) As of December 31, 2023 and 2022, Interbank holds Sovereign Bonds of the Republic of Peru for approximately S/887,454,000 and S/1,047,815,000, respectively, which guarantee loans with the BCRP, see Note 12(b). As of December 31, 2023, Interbank holds Sovereign Bonds of the Republic of Peru for approximately S/ 629,265 (***) As of December 31, 2023, Interbank maintains Negotiable Certificates of Deposits issued by the BCRP for approximately S/785,206,000, which guarantee loans with the BCRP, see Note 12(b). |
Summary of internal credit exposures explanatory | The following table shows the credit quality and maximum exposure to credit risk based on the Group’s internal credit rating of debt instruments measured at fair value through other comprehensive income as of December 31, 2023 and 2022. The amounts presented do not consider impairment. 2023 2022 Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Not impaired High grade 4,261,926 — — 4,261,926 2,271,038 — — 2,271,038 Standard grade 15,898,382 750,179 — 16,648,561 13,499,740 945,321 — 14,445,061 Sub-standard grade — — — — Impaired Individual — — 1,697 1,697 — — 418 418 Total 20,160,308 750,179 1,697 20,912,184 15,770,778 945,321 418 16,716,517 (c) The Group, according to the business model applied to these debt instruments, has the capacity to hold these investments for a sufficient period that allows the early recovery of the fair value, up to the maximum period for the early recovery or the due date. |
Summary of analysis of changes in fair value and corresponding expected credit loss | The following table shows the analysis of changes in fair value and the corresponding expected credit loss: 2023 Gross carrying amount of debt instruments measured at fair value through other Stage 1 Stage 2 Stage 3 Total S/(000) S/(000) S/(000) S/(000) Beginning of year balances 15,770,778 945,321 418 16,716,517 New originated or purchased assets 5,810,766 — — 5,810,766 Assets matured or derecognized (excluding write-offs) (2,175,611 ) (80,810 ) — (2,256,421 ) Change in fair value 783,826 (58,954 ) 1,289 726,161 Transfers to Stage 1 161,781 (161,781 ) — — Transfers to Stage 2 (109,392 ) 109,392 — — Transfers to Stage 3 — — — — Write-offs — — — — Foreign exchange effect (81,840 ) (2,989 ) (10 ) (84,839 ) End of year balances 20,160,308 750,179 1,697 20,912,184 2023 Movement of the allowance for expected credit losses for debt instruments Stage 1 Stage 2 Stage 3 Total S/(000) S/(000) S/(000) S/(000) Expected credit loss at the beginning of the period 10,822 29,600 13,552 53,974 New originated or purchased assets 1,689 — — 1,689 Assets matured or derecognized (excluding write-offs) (877 ) (116 ) — (993 ) Transfers to Stage 1 4,198 (4,198 ) — — Transfers to Stage 2 (183 ) 183 — — Transfers to Stage 3 — — — — Effect on the expected credit loss due to the change of the stage during the year (4,003 ) 3,414 — (589 ) Others (*) (1,739 ) 9,120 — 7,381 Write-offs — — — — Recoveries — — — — Foreign exchange effect (30 ) (16 ) (370 ) (416 ) Expected credit loss at the end of the period 9,877 37,987 13,182 61,046 (*) Corresponds mainly to the effects on the expected loss because of changes in investment ratings and that not necessarily have resulted in stage transfers during the year. 2022 Gross carrying amount of debt instruments measured at fair value through other Stage 1 Stage 2 Stage 3 Total S/(000) S/(000) S/(000) S/(000) Beginning of year balances 16,733,281 896,506 — 17,629,787 New originated or purchased assets 3,211,041 — — 3,211,041 Assets matured or derecognized (excluding write-offs) (1,939,686 ) (10,531 ) — (1,950,217 ) Change in fair value (1,906,272 ) (14,416 ) (9,210 ) (1,929,898 ) Transfers to Stage 1 — — — — Transfers to Stage 2 (88,095 ) 88,095 — — Transfers to Stage 3 (2,162 ) (7,805 ) 9,967 — Write-offs — — — — Foreign exchange effect (237,329 ) (6,528 ) (339 ) (244,196 ) End of year balances 15,770,778 945,321 418 16,716,517 2022 Movement of the allowance for expected credit losses for debt instruments Stage 1 Stage 2 Stage 3 Total S/(000) S/(000) S/(000) S/(000) Expected credit loss at the beginning of the period 9,456 31,652 — 41,108 New originated or purchased assets 3,132 — — 3,132 Assets matured or derecognized (excluding write-offs) (416 ) (46 ) — (462 ) Transfers to Stage 1 — — — — Transfers to Stage 2 (105 ) 105 — — Transfers to Stage 3 (305 ) (993 ) 1,298 — Effect on the expected credit loss due to the change of the stage during the year — 3,237 12,311 15,548 Others (*) (1,186 ) (4,282 ) — (5,468 ) Write-offs — — — — Recoveries — — — — Foreign exchange effect 246 (73 ) (57 ) 116 Expected credit loss at the end of the period 10,822 29,600 13,552 53,974 (*) Corresponds mainly to the effects on the expected loss because of changes in investment ratings and that not necessarily have resulted in stage transfers during the year. |
Summary of financial instruments at fair value through profit or loss | (e) The composition of financial instruments at fair value through profit or loss is as follows: 2023 2022 S/(000) S/(000) Equity instruments Local and foreign mutual funds and investment funds participations 1,169,491 1,517,075 Listed shares 253,203 315,820 Non-listed shares 122,482 74,430 Debt instruments Negotiable Certificates of Deposits 6,075 — Corporate, leasing and subordinated bonds 5,289 25,668 Total 1,556,540 1,932,993 |
Summary of equity instruments measured at fair value through other comprehensive income | (f) The composition of equity instruments measured at fair value through other comprehensive income is as follow: 2023 2022 S/(000) S/(000) Listed shares (g) 407,636 474,588 Non-listed shares 37,242 38,296 Total 444,878 512,884 |
Summary of financial assets classified by contractual maturity | (h) The following is the balance of investments at fair value through other comprehensive income (debt and equity instruments) and investments at amortized cost as of December 31, 2023 and 2022 classified by contractual maturity (without including accrued interest): 2023 2022 Investments at fair Investments at Investments at fair Investments at S/(000) S/(000) S/(000) S/(000) Up to 3 months 1,933,761 — 1,610,691 — From 3 months to 1 year 2,279,986 634,133 152,533 494,872 From 1 to 3 years 2,347,378 485,590 1,160,014 640,314 From 3 to 5 years 1,660,263 146,633 2,329,056 443,799 From 5 years onwards 12,690,796 2,116,658 11,464,223 1,652,154 Equity instruments (without maturity) 444,878 — 512,884 — Total 21,357,062 3,383,014 17,229,401 3,231,139 |
Summary of stages as indicated by IFRS 9 | (i) Below are the debt instruments measured at fair value through other comprehensive income and at amortized cost according to the stages indicated by IFRS 9. As of December 31, 2023 and 2022: 2023 Debt instruments measured at fair value through other comprehensive income and at amortized cost Stage 1 Stage 2 Stage 3 Total S/(000) S/(000) S/(000) S/(000) Sovereign Bonds of the Republic of Peru 11,083,297 — — 11,083,297 Corporate, leasing and subordinated bonds 7,909,365 750,179 1,697 8,661,241 Negotiable Certificates of Deposit issued by the BCRP 3,448,984 — — 3,448,984 Bonds guaranteed by the Peruvian government 473,630 — — 473,630 Global Bonds of the Republic of Peru 463,333 — — 463,333 Treasury Bonds of the United States of America 73,330 — — 73,330 Global Bonds of the United States of Mexico 15,678 — — 15,678 Others 75,705 — — 75,705 Total 23,543,322 750,179 1,697 24,295,198 2022 Debt instruments measured at fair value through other comprehensive income and at amortized cost Stage 1 Stage 2 Stage 3 Total S/(000) S/(000) S/(000) S/(000) Sovereign Bonds of the Republic of Peru 9,839,920 — — 9,839,920 Corporate, leasing and subordinated bonds 6,709,273 864,511 418 7,574,202 Variable interest Certificates of Deposit issued by the BCRP 1,434,836 — — 1,434,836 Bonds guaranteed by the Peruvian government 487,728 — — 487,728 Global Bonds of the Republic of Peru 453,286 — — 453,286 Global Bonds of the Republic of Colombia — 80,810 — 80,810 Negotiable Certificates of Deposit issued by the BCRP 43,868 — — 43,868 Treasury Bonds of the United States of America 17,726 17,726 Global Bonds of the United States of Mexico 15,280 — — 15,280 Total 19,001,917 945,321 418 19,947,656 |
Loans, net (Tables)
Loans, net (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of financial assets [abstract] | |
Summary of loans receivables | (a) This caption is made up as follows: 2023 2022 S/(000) S/(000) Direct loans Loans (*) 35,789,130 35,977,734 Credit cards and other loans (**) 6,023,769 6,239,314 Discounted notes 1,567,411 894,588 Leasing 1,495,290 1,174,542 Factoring 1,244,795 1,011,496 Advances and overdrafts 14,617 38,763 Refinanced loans 461,995 322,941 Past due and under legal collection loans 1,652,151 1,365,972 48,249,158 47,025,350 Plus (minus) Accrued interest from performing loans (f) 657,355 527,615 Unearned interest and interest collected in advance (36,706 ) (22,112 ) Impairment allowance for loans (d) (2,349,425 ) (2,027,855 ) Total direct loans, net 46,520,382 45,502,998 Indirect loans, Note 18(a) 4,743,480 4,487,347 |
Summary of classification of direct loan portfolio | (b) The classification of the direct loan portfolio is as follows: 2023 2022 S/(000) S/(000) Commercial loans (c.1) 21,155,476 21,412,126 Consumer loans (c.1) 16,325,460 14,967,799 Mortgage loans (c.1) 9,834,398 9,286,944 Small and micro-business loans (c.1) 933,824 1,358,481 Total 48,249,158 47,025,350 |
Summary of credit quality and maximum exposure to credit risk | (c) The following table shows the credit quality and maximum exposure to credit risk based on the Group’s internal credit rating as of December 31, 2023 and 2022. The amounts presented do not consider impairment. 2023 2022 Direct loans, (c.1) Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Not impaired High grade 35,098,364 1,068,674 — 36,167,038 35,613,991 1,111,421 — 36,725,412 Standard grade 2,832,251 1,510,897 — 4,343,148 4,282,904 835,217 — 5,118,121 Sub-standard grade 1,367,503 1,450,751 — 2,818,254 776,603 940,391 — 1,716,994 Past due but not impaired 1,949,892 1,460,138 — 3,410,030 1,124,557 1,150,139 — 2,274,696 Impaired Individually — — 36,257 36,257 — — 45,907 45,907 Collectively — — 1,474,431 1,474,431 — — 1,144,220 1,144,220 Total direct loans 41,248,010 5,490,460 1,510,688 48,249,158 41,798,055 4,037,168 1,190,127 47,025,350 2023 2022 Contingent Credits: Guarantees and stand-by letters, import and export letters of credit (substantially, all indirect loans correspond to commercial loans) Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Not impaired High grade 3,988,999 457,518 — 4,446,517 3,945,307 402,336 — 4,347,643 Standard grade 32,433 214,806 — 247,239 12,083 39,541 — 51,624 Sub-standard grade 2,823 31,101 — 33,924 2,051 59,953 — 62,004 Past due but not impaired — — — — — — — — Impaired Individually — — 6,181 6,181 — — 9,330 9,330 Collectively — — 9,619 9,619 — — 16,746 16,746 Total indirect loans 4,024,255 703,425 15,800 4,743,480 3,959,441 501,830 26,076 4,487,347 (c.1) The following tables show the credit quality and maximum exposure to credit risk for each classification of the direct loans: 2023 2022 Commercial loans Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Not impaired High grade 14,979,356 855,890 — 15,835,246 16,213,146 914,480 — 17,127,626 Standard grade 1,347,961 1,013,803 — 2,361,764 1,991,637 230,180 — 2,221,817 Sub-standard grade 450,577 314,063 — 764,640 380,679 171,648 — 552,327 Past due but not impaired 1,431,064 364,603 — 1,795,667 704,067 398,185 — 1,102,252 Impaired Individually — — 36,257 36,257 — — 45,907 45,907 Collectively — — 361,902 361,902 — — 362,197 362,197 Total direct loans 18,208,958 2,548,359 398,159 21,155,476 19,289,529 1,714,493 408,104 21,412,126 2023 2022 Consumer loans Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Not impaired High grade 11,475,514 199,501 — 11,675,015 11,331,807 181,066 — 11,512,873 Standard grade 945,060 452,811 — 1,397,871 1,139,837 579,625 — 1,719,462 Sub-standard grade 717,526 755,121 — 1,472,647 60,415 542,841 — 603,256 Past due but not impaired 217,712 829,119 — 1,046,831 153,865 526,042 — 679,907 Impaired Individually — — — — — — — — Collectively — — 733,096 733,096 — — 452,301 452,301 Total direct loans 13,355,812 2,236,552 733,096 16,325,460 12,685,924 1,829,574 452,301 14,967,799 2023 2022 Mortgage loans Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Not impaired High grade 8,093,031 13,283 — 8,106,314 7,490,495 1,033 — 7,491,528 Standard grade 433,968 17,124 — 451,092 667,599 15,411 — 683,010 Sub-standard grade 193,340 348,274 — 541,614 334,967 200,226 — 535,193 Past due but not impaired 261,100 200,873 — 461,973 205,728 132,958 — 338,686 Impaired Individually — — — — — — — — Collectively — — 273,405 273,405 — — 238,527 238,527 Total direct loans 8,981,439 579,554 273,405 9,834,398 8,698,789 349,628 238,527 9,286,944 2023 2022 Small and micro-business loans Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Not impaired High grade 550,463 — — 550,463 578,543 14,842 — 593,385 Standard grade 105,262 27,159 — 132,421 483,831 10,001 — 493,832 Sub-standard grade 6,060 33,293 — 39,353 542 25,676 — 26,218 Past due but not impaired 40,016 65,543 — 105,559 60,897 92,954 — 153,851 Impaired Individually — — — — — — — — Collectively — — 106,028 106,028 — — 91,195 91,195 Total direct loans 701,801 125,995 106,028 933,824 1,123,813 143,473 91,195 1,358,481 |
Reconciliation of changes in allowance account for credit losses of loans receivable | (d.1) Direct loans 2023 2022 Gross carrying amount of Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Beginning of year balances 41,798,055 4,037,168 1,190,127 47,025,350 40,522,481 2,853,565 1,312,176 44,688,222 New originated or purchased assets 22,372,321 — — 22,372,321 22,393,323 — — 22,393,323 Assets matured or derecognized (excluding write-offs) (14,406,950 ) (977,654 ) (72,977 ) (15,457,581 ) (14,636,477 ) (1,194,405 ) (429,348 ) (16,260,230 ) Transfers to Stage 1 762,554 (760,269 ) (2,285 ) — 1,019,478 (1,014,657 ) (4,821 ) — Transfers to Stage 2 (4,664,954 ) 4,706,631 (41,677 ) — (3,131,710 ) 3,161,335 (29,625 ) — Transfers to Stage 3 (1,235,354 ) (1,054,563 ) 2,289,917 — (401,017 ) (317,282 ) 718,299 — Write-offs — — (1,714,968 ) (1,714,968 ) — — (960,918 ) (960,918 ) Others (*) (3,217,003 ) (449,390 ) (131,273 ) (3,797,666 ) (3,383,889 ) 575,338 590,017 (2,218,534 ) Foreign exchange effect (160,659 ) (11,463 ) (6,176 ) (178,298 ) (584,134 ) (26,726 ) (5,653 ) (616,513 ) End of year balances 41,248,010 5,490,460 1,510,688 48,249,158 41,798,055 4,037,168 1,190,127 47,025,350 2023 2022 Changes in the allowance for expected Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Expected credit loss at the beginning of year balances 608,558 737,286 682,011 2,027,855 956,456 404,881 703,580 2,064,917 Impact of the expected credit loss in the consolidated statement of income - New originated or purchased assets 624,484 — — 624,484 503,454 — — 503,454 Assets matured or derecognized (excluding write-offs) (147,086 ) (66,329 ) (25,445 ) (238,860 ) (173,872 ) (237,110 ) (302,861 ) (713,843 ) Transfers to Stage 1 106,745 (104,939 ) (1,806 ) — 166,755 (163,090 ) (3,665 ) — Transfers to Stage 2 (327,728 ) 339,051 (11,323 ) — (259,226 ) 268,700 (9,474 ) — Transfers to Stage 3 (163,156 ) (269,881 ) 433,037 — (74,178 ) (88,551 ) 162,729 — Impact on the expected credit loss for credits that change stage in the year (***) (90,594 ) 259,309 1,407,191 1,575,906 (129,388 ) 176,416 340,244 387,272 Others (**) (65,775 ) (60,358 ) 163,834 37,701 (382,355 ) 375,448 666,581 659,674 Total (63,110 ) 96,853 1,965,488 1,999,231 (348,810 ) 331,813 853,554 836,557 Write-offs — — (1,813,670 ) (1,813,670 ) — — (1,021,539 ) (1,021,539 ) Recovery of written–off loans — — 138,886 138,886 — — 155,070 155,070 Foreign exchange effect (206 ) (227 ) (2,444 ) (2,877 ) 912 592 (8,654 ) (7,150 ) Expected credit loss at the end of year balances 545,242 833,912 970,271 2,349,425 608,558 737,286 682,011 2,027,855 (*) Corresponds mainly to: (i) the variation between the amortized cost of the loan at the beginning of the year and its amortized cost at the end of the year (partial amortizations that did not represent a reduction or derecognized of the loan), and (ii) the execution of contingent loans (conversion of indirect debt into direct debt). (**) Corresponds mainly to: (i) the variation between the amortized cost of the loan at the beginning of the year and its amortized cost at the end of the year (variation in the provision recorded for partial amortizations that did not represent a reduction or derecognized of the loan), (ii) variations in credit risk that did not generate transfers to other stages; and (iii) the execution of contingent loans (conversion of indirect debt into direct debt). (***) The Group applied its expert judgement with the purpose of reflecting the effects of the possible impact of the El Niño event during 2023, and the political and economic uncertainty during 2022, that were not considered in the forward-looking model, that led to incur in a higher provision for expected loss, see Note 29.1(d.7). (d.1.1) The following tables show the movement of the allowance for expected credit losses for each classification of the direct loan portfolio: 2023 2022 Commercial loans Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Expected credit loss at beginning of year 45,474 47,311 154,299 247,084 100,874 60,100 182,467 343,441 Impact of the expected credit loss in the consolidated statement of income - New originated or purchased assets 47,129 — — 47,129 33,506 — — 33,506 Assets derecognized or matured (excluding write-offs) (26,668 ) (10,113 ) (2,924 ) (39,705 ) (18,984 ) (37,865 ) (92,529 ) (149,378 ) Transfers to Stage 1 2,920 (2,687 ) (233 ) — 41,140 (40,152 ) (988 ) — Transfers to Stage 2 (27,598 ) 30,826 (3,228 ) — (15,952 ) 16,311 (359 ) — Transfers to Stage 3 (10,620 ) (16,046 ) 26,666 — (6,603 ) (48,516 ) 55,119 — Impact on the expected credit loss for credits that change stage in the year (**) (1,988 ) 7,333 40,748 46,093 (31,403 ) 4,752 16,864 (9,787 ) Others (*) 23,154 8,006 6,579 37,739 (57,822 ) 91,880 63,218 97,276 Total 6,329 17,319 67,608 91,256 (56,118 ) (13,590 ) 41,325 (28,383 ) Write-offs — — (62,960 ) (62,960 ) — — (68,362 ) (68,362 ) Recovery of written–off loans — — 5,189 5,189 — — 5,942 5,942 Foreign exchange effect (192 ) (160 ) (1,751 ) (2,103 ) 718 801 (7,073 ) (5,554 ) Expected credit loss at end of year 51,611 64,470 162,385 278,466 45,474 47,311 154,299 247,084 2023 2022 Consumer loans Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Expected credit loss at beginning of year 534,005 657,474 430,902 1,622,381 802,421 263,219 336,041 1,401,681 Impact of the expected credit loss in the consolidated statement of income - New originated or purchased assets 552,847 — — 552,847 438,109 — — 438,109 Assets derecognized or matured (excluding write-offs) (98,984 ) (54,036 ) (10,863 ) (163,883 ) (141,201 ) (144,553 ) (100,740 ) (386,494 ) Transfers to Stage 1 95,173 (93,918 ) (1,255 ) — 44,453 (43,487 ) (966 ) — Transfers to Stage 2 (282,373 ) 287,164 (4,791 ) — (229,316 ) 234,062 (4,746 ) — Transfers to Stage 3 (135,476 ) (231,432 ) 366,908 — (59,129 ) (13,433 ) 72,562 — Impact on the expected credit loss for credits that change stage in the year (**) (81,051 ) 221,421 1,263,515 1,403,885 (35,112 ) 163,681 293,678 422,247 Others (*) (117,534 ) (73,259 ) 162,060 (28,733 ) (286,212 ) 198,393 580,849 493,030 Total (67,398 ) 55,940 1,775,574 1,764,116 (268,408 ) 394,663 840,637 966,892 Write-offs — — (1,647,576 ) (1,647,576 ) — — (886,200 ) (886,200 ) Recovery of written–off loans — — 123,679 123,679 — — 140,438 140,438 Foreign exchange effect (1 ) (53 ) (162 ) (216 ) (8 ) (408 ) (14 ) (430 ) Expected credit loss at end of year 466,606 713,361 682,417 1,862,384 534,005 657,474 430,902 1,622,381 (*) Corresponds mainly to: (i) the variation between the amortized cost of the loan at the beginning of the year and its amortized cost at the end of the year (variation in the provision recorded for partial amortizations that did not represent a reduction or derecognized of the loan), (ii) variations in credit risk that did not generate transfers to other stages; and (iii) the execution of contingent loans (conversion of indirect debt into direct debt). (**) The Group applied its expert judgement with the purpose of reflecting the effects of the possible impact of the El Niño event during 2023, and the political and economic uncertainty during 2022, that were not considered in the forward-looking model, that led to incur in a higher provision for expected loss, see Note 29.1(d.7). 2023 2022 Mortgage loans Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Expected credit loss at beginning of year 4,236 12,285 45,101 61,622 12,669 42,681 99,850 155,200 Impact of the expected credit loss in the consolidated statement of income - New originated or purchased assets 3,949 — — 3,949 1,473 — — 1,473 Assets derecognized or matured (excluding write-offs) (181 ) (833 ) (10,625 ) (11,639 ) (435 ) (763 ) (10,957 ) (12,155 ) Transfers to Stage 1 6,414 (6,414 ) — — 6,103 (6,103 ) — — Transfers to Stage 2 (2,052 ) 5,115 (3,063 ) — (778 ) 4,871 (4,093 ) — Transfers to Stage 3 (1,915 ) (2,423 ) 4,338 — (467 ) (1,254 ) 1,721 — Impact on the expected credit loss for credits that change stage in the year (**) (5,956 ) 15,996 20,982 31,022 (5,871 ) 4,342 11,518 9,989 Others (*) 2,312 2,040 2,018 6,370 (8,663 ) (31,688 ) (49,097 ) (89,448 ) Total 2,571 13,481 13,650 29,702 (8,638 ) (30,595 ) (50,908 ) (90,141 ) Write-offs — — (3,580 ) (3,580 ) — — (2,267 ) (2,267 ) Recovery of written–off loans — — — — — — — — Foreign exchange effect (13 ) (13 ) (520 ) (546 ) 205 199 (1,574 ) (1,170 ) Expected credit loss at end of year 6,794 25,753 54,651 87,198 4,236 12,285 45,101 61,622 2023 2022 Small and micro-business loans Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Expected credit loss at beginning of year 24,843 20,216 51,709 96,768 40,492 38,881 85,222 164,595 Impact of the expected credit loss in the consolidated statement of income - New originated or purchased assets 20,559 — — 20,559 30,366 — — 30,366 Assets derecognized or matured (excluding write-offs) (21,253 ) (1,347 ) (1,033 ) (23,633 ) (13,252 ) (53,929 ) (98,635 ) (165,816 ) Transfers to Stage 1 2,238 (1,920 ) (318 ) — 75,059 (73,348 ) (1,711 ) — Transfers to Stage 2 (15,705 ) 15,946 (241 ) — (13,180 ) 13,456 (276 ) — Transfers to Stage 3 (15,145 ) (19,980 ) 35,125 — (7,979 ) (25,348 ) 33,327 — Impact on the expected credit loss for credits that change stage in the year (**) (1,599 ) 14,559 81,946 94,906 (57,002 ) 3,641 18,184 (35,177 ) Others (*) 26,293 2,855 (6,823 ) 22,325 (29,658 ) 116,863 71,611 158,816 Total (4,612 ) 10,113 108,656 114,157 (15,646 ) (18,665 ) 22,500 (11,811 ) Write-offs — — (99,554 ) (99,554 ) — — (64,710 ) (64,710 ) Recovery of written–off loans — — 10,018 10,018 — — 8,690 8,690 Foreign exchange effect — (1 ) (11 ) (12 ) (3 ) — 7 4 Expected credit loss at end of year 20,231 30,328 70,818 121,377 24,843 20,216 51,709 96,768 (*) Corresponds mainly to: (i) the variation between the amortized cost of the loan at the beginning of the year and its amortized cost at the end of the year (variation in the provision recorded for partial amortizations that did not represent a reduction or derecognized of the loan), (ii) variations in credit risk that did not generate transfers to other stages; and (iii) the execution of contingent loans (conversion of indirect debt into direct debt). (**) The Group applied its expert judgement with the purpose of reflecting the effects of the possible impact of the El Niño event during 2023, and the political and economic uncertainty during 2022, that were not considered in the forward-looking model, that led to incur in a higher provision for expected loss, see Note 29.1(d.7). (d.2) Indirect loans (substantially, all indirect loans correspond to commercial loans) 2023 2022 Gross carrying amount of contingent credits, guarantees and stand-by Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Beginning of year balances 3,959,441 501,830 26,076 4,487,347 3,984,362 431,039 25,057 4,440,458 New originated or purchased assets 2,122,067 — — 2,122,067 1,829,985 — — 1,829,985 Assets derecognized or matured (1,606,539 ) (135,042 ) (1,784 ) (1,743,365 ) (1,470,891 ) (168,603 ) (9,627 ) (1,649,121 ) Transfers to Stage 1 30,259 (30,259 ) — — 25,315 (25,315 ) — — Transfers to Stage 2 (392,176 ) 407,454 (15,278 ) — (258,992 ) 258,992 — — Transfers to Stage 3 (12 ) (6,687 ) 6,699 — (633 ) (10,035 ) 10,668 — Others (*) (54,162 ) (26,950 ) 92 (81,020 ) (58,323 ) 25,454 (22 ) (32,891 ) Foreign exchange effect (34,623 ) (6,921 ) (5 ) (41,549 ) (91,382 ) (9,702 ) — (101,084 ) End of year balances 4,024,255 703,425 15,800 4,743,480 3,959,441 501,830 26,076 4,487,347 2023 2022 Changes in the allowance for expected credit losses for contingent credits, guarantees and stand-by letters, import and export letters of credit Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Expected credit loss at beginning of year balances 8,354 18,205 8,936 35,495 8,594 18,492 13,243 40,329 Impact of the expected credit loss in the consolidated statement of income - New originated or purchased assets 4,770 — — 4,770 5,615 — — 5,615 Assets derecognized or matured (1,988 ) (4,205 ) (631 ) (6,824 ) (4,838 ) (2,016 ) (6,241 ) (13,095 ) Transfers to Stage 1 180 (180 ) — — 109 (109 ) — — Transfers to Stage 2 (1,986 ) 3,626 (1,640 ) — (854 ) 854 — — Transfers to Stage 3 (1 ) (50 ) 51 — (57 ) (171 ) 228 — Impact on the expected credit loss for credits that change stage in the year (57 ) (837 ) 684 (210 ) (47 ) 585 623 1,161 Others (**) (2,521 ) (12,600 ) (28 ) (15,149 ) (274 ) (467 ) 1,054 313 Total (1,603 ) (14,246 ) (1,564 ) (17,413 ) (346 ) (1,324 ) (4,336 ) (6,006 ) Foreign exchange effect (127 ) (20 ) (3 ) (150 ) 106 1,037 29 1,172 Expected credit loss at the end of year balances, Note 10(a) 6,624 3,939 7,369 17,932 8,354 18,205 8,936 35,495 (*) Corresponds mainly to: (i) the variation between the amortized cost of the loan at the beginning of the year and its amortized cost at the end of the year (partial amortizations that did not represent a reduction or derecognized of the loan), and (ii) the execution of contingent loans (conversion of indirect debt into direct debt). (**) Corresponds mainly to: (i) the variation between the amortized cost of the loan at the beginning of the year and its amortized cost at the end of the year (variation in the provision recorded for partial amortizations that did not represent a reduction or derecognized of the loan), (ii) variations in credit risk that did not generate transfers to other stages; and (iii) the execution of contingent loans (conversion of indirect debt into direct debt). |
Summary of loan portfolio classified by maturity dates | (i) The table below presents the maturity of the direct loan portfolio without including accrued interest, interest to be accrued and interest collected in advance as of December 31, 2023 and 2022: 2023 2022 S/(000) S/(000) Outstanding Up to 1 month 4,461,634 4,945,881 From 1 to 3 months 5,781,509 5,708,262 From 3 months to 1 year 10,831,137 10,220,204 From 1 to 5 years 19,500,481 18,916,603 Over 5 years 6,022,246 5,868,428 46,597,007 45,659,378 2023 2022 S/(000) S/(000) Past due and under legal collection loans, see (i.1) Up to 4 months 484,808 423,906 Over 4 months 697,246 401,508 Under legal collection 470,097 540,558 48,249,158 47,025,350 (i.1) The tables below present past due and under legal collection loans for each classification of the direct loan portfolio: 2023 2022 S/(000) S/(000) Commercial loans Up to 4 months 98,263 150,607 Over 4 months 143,170 106,081 Under legal collection 228,809 245,786 470,242 502,474 Consumer loans Up to 4 months 284,954 143,867 Over 4 months 401,164 220,226 Under legal collection 78,290 108,162 764,408 472,255 Mortgage loans Up to 4 months 35,934 30,484 Over 4 months 94,568 48,316 Under legal collection 140,018 155,587 270,520 234,387 Small and micro-business loans Up to 4 months 65,657 98,948 Over 4 months 58,344 26,885 Under legal collection 22,980 31,023 146,981 156,856 (k) The following tables present the maturities of direct and indirect loans of Stages 2 and 3 as of December 31, 2023 and 2022, as follows: • Stage 2: Loans with maturity longer or shorter than 30 days, regardless of the criteria that caused their classification into Stage 2. • Stage 3: Loans with maturity longer or shorter than 90 days, regardless of the criteria that caused their classification into Stage 3. 2023 2022 Stage 2 Stage 3 Total Stage 2 Stage 3 Total Gross amount Expected loss Gross amount Expected loss Gross amount Expected loss Gross amount Expected loss Gross amount Expected loss Gross amount Expected loss S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Maturity shorter than: 30 days 5,400,087 609,406 — — 5,400,087 609,406 3,934,328 595,372 — — 3,934,328 595,372 90 days — — 16,219 14,888 16,219 14,888 — — 1,816 1,583 1,816 1,583 Maturity longer than: 30 days 793,798 228,445 — — 793,798 228,445 604,670 160,119 — — 604,670 160,119 90 days — — 1,510,269 962,752 1,510,269 962,752 — — 1,214,387 689,364 1,214,387 689,364 Total 6,193,885 837,851 1,526,488 977,640 7,720,373 1,815,491 4,538,998 755,491 1,216,203 690,947 5,755,201 1,446,438 (k.1) The following tables present the maturities of direct and indirect loans of Stages 2 and 3 as of December 31, 2023 and 2022, for each classification: 2023 2022 Stage 2 Stage 3 Total Stage 2 Stage 3 Total Commercial loans Gross amount Expected loss Gross amount Expected loss Gross amount Expected loss Gross amount Expected loss Gross amount Expected loss Gross amount Expected loss S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Maturity shorter than: 30 days 3,155,267 60,877 — — 3,155,267 60,877 2,089,059 60,403 — — 2,089,059 60,403 90 days — — 2,686 2,259 2,686 2,259 — — 250 214 250 214 Maturity longer than: 30 days 96,517 7,532 — — 96,517 7,532 127,264 5,113 — — 127,264 5,113 90 days — — 411,273 167,495 411,273 167,495 — — 433,930 163,021 433,930 163,021 Total 3,251,784 68,409 413,959 169,754 3,665,743 238,163 2,216,323 65,516 434,180 163,235 2,650,503 228,751 2023 2022 Stage 2 Stage 3 Total Stage 2 Stage 3 Total Consumer loans Gross amount Expected loss Gross amount Expected loss Gross amount Expected loss Gross amount Expected loss Gross amount Expected loss Gross amount Expected loss S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Maturity shorter than: 30 days 1,700,558 508,045 — — 1,700,558 508,045 1,500,325 511,105 — — 1,500,325 511,105 90 days — — 10,295 9,883 10,295 9,883 — — 1,356 1,194 1,356 1,194 Maturity longer than: 30 days 535,994 205,316 — — 535,994 205,316 329,249 146,369 — — 329,249 146,369 90 days — — 722,801 672,534 722,801 672,534 — — 450,945 429,708 450,945 429,708 Total 2,236,552 713,361 733,096 682,417 2,969,648 1,395,778 1,829,574 657,474 452,301 430,902 2,281,875 1,088,376 |
Disclosure Of Maturity Analysis For Financial Liabilities | 2023 2022 Stage 2 Stage 3 Total Stage 2 Stage 3 Total Mortgage loans Gross amount Expected loss Gross amount Expected loss Gross amount Expected loss Gross amount Expected loss Gross amount Expected loss Gross amount Expected loss S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Maturity shorter than: 30 days 463,168 20,311 — — 463,168 20,311 271,622 9,266 — — 271,622 9,266 90 days — — 546 109 546 109 — — — — — — Maturity longer than: 30 days 116,386 5,442 — — 116,386 5,442 78,006 3,019 — — 78,006 3,019 90 days — — 272,859 54,542 272,859 54,542 — — 238,527 45,101 238,527 45,101 Total 579,554 25,753 273,405 54,651 852,959 80,404 349,628 12,285 238,527 45,101 588,155 57,386 2023 2022 Stage 2 Stage 3 Total Stage 2 Stage 3 Total Small and micro-business loans Gross amount Expected loss Gross amount Expected loss Gross amount Expected loss Gross amount Expected loss Gross amount Expected loss Gross amount Expected loss S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Maturity shorter than: 30 days 81,094 20,173 — — 81,094 20,173 73,322 14,598 — — 73,322 14,598 90 days — — 2,692 2,637 2,692 2,637 — — 210 175 210 175 Maturity longer than: 30 days 44,901 10,155 — — 44,901 10,155 70,151 5,618 — — 70,151 5,618 90 days — — 103,336 68,181 103,336 68,181 — — 90,985 51,534 90,985 51,534 Total 125,995 30,328 106,028 70,818 232,023 101,146 143,473 20,216 91,195 51,709 234,668 71,925 |
Summary of expected credit losses by economic sector for direct loans | (l) The following tables present the exposure and the expected credit losses by the economic sector for direct loans as of December 31, 2023 and 2022: 2023 Carrying amount Expected credit loss Percentage expected credit loss Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Direct loans Consumer loans 13,355,812 2,236,552 733,096 16,325,460 466,606 713,361 682,417 1,862,384 3.5 % 31.9 % 93.1 % 11.4 % Mortgage loans 8,981,439 579,554 273,405 9,834,398 6,794 25,753 54,651 87,198 0.1 % 4.4 % 20.0 % 0.9 % Commerce 3,220,741 390,704 176,989 3,788,434 24,033 38,186 87,557 149,776 0.7 % 9.8 % 49.5 % 4.0 % Manufacturing 4,357,971 427,950 58,967 4,844,888 11,196 14,568 24,366 50,130 0.3 % 3.4 % 41.3 % 1.0 % Professional, scientific and technical activities 3,727,813 555,988 75,172 4,358,973 15,792 18,725 36,580 71,097 0.4 % 3.4 % 48.7 % 1.6 % Communications, storage and transportation 998,739 167,002 75,474 1,241,215 6,843 7,976 25,450 40,269 0.7 % 4.8 % 33.7 % 3.2 % Agriculture 1,708,377 173,386 12,667 1,894,430 3,209 1,854 1,632 6,695 0.2 % 1.1 % 12.9 % 0.4 % Electricity, gas, water and oil 746,792 188,577 1,466 936,835 784 1,767 346 2,897 0.1 % 0.9 % 23.6 % 0.3 % Leaseholds and real estate activities 457,473 86,954 46,074 590,501 2,628 2,216 20,693 25,537 0.6 % 2.5 % 44.9 % 4.3 % Construction and infrastructure 404,840 113,431 40,799 559,070 1,499 1,163 27,405 30,067 0.4 % 1.0 % 67.2 % 5.4 % Others 3,288,013 570,362 16,579 3,874,954 5,858 8,343 9,174 23,375 0.2 % 1.5 % 55.3 % 0.6 % Total direct loans 41,248,010 5,490,460 1,510,688 48,249,158 545,242 833,912 970,271 2,349,425 1.3 % 15.2 % 64.2 % 4.9 % 2022 Carrying amount Expected credit loss Percentage expected credit loss Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Direct loans Consumer loans 12,685,924 1,829,574 452,301 14,967,799 534,005 657,474 430,902 1,622,381 4.2 % 35.9 % 95.3 % 10.8 % Mortgage loans 8,698,789 349,628 238,527 9,286,944 4,236 12,285 45,101 61,622 0.0 % 3.5 % 18.9 % 0.7 % Commerce 3,837,304 402,454 173,236 4,412,994 31,844 29,009 78,028 138,881 0.8 % 7.2 % 45.0 % 3.1 % Manufacturing 4,346,251 451,393 63,397 4,861,041 8,403 12,389 21,611 42,403 0.2 % 2.7 % 34.1 % 0.9 % Professional, scientific and technical activities 3,529,961 298,534 64,078 3,892,573 12,056 10,186 26,497 48,739 0.3 % 3.4 % 41.4 % 1.3 % Communications, storage and transportation 1,102,988 194,840 75,427 1,373,255 7,047 7,035 23,645 37,727 0.6 % 3.6 % 31.3 % 2.7 % Agriculture 1,747,159 134,545 10,863 1,892,567 1,391 967 1,381 3,739 0.1 % 0.7 % 12.7 % 0.2 % Electricity, gas, water and oil 867,431 55,187 1,652 924,270 886 462 220 1,568 0.1 % 0.8 % 13.3 % 0.2 % Leaseholds and real estate activities 499,385 84,056 23,441 606,882 1,595 1,825 14,518 17,938 0.3 % 2.2 % 61.9 % 3.0 % Construction and infrastructure 415,827 91,910 49,736 557,473 1,667 1,654 32,569 35,890 0.4 % 1.8 % 65.5 % 6.4 % Others 4,067,036 145,047 37,469 4,249,552 5,428 4,000 7,539 16,967 0.1 % 2.8 % 20.1 % 0.4 % Total direct loans 41,798,055 4,037,168 1,190,127 47,025,350 608,558 737,286 682,011 2,027,855 1.5 % 18.3 % 57.3 % 4.3 % |
Summary of expected credit losses by economic sector for Indirect loans | (m) The following tables present the exposure and the expected credit losses by the economic sector for indirect loans as of December 31, 2023 and 2022: 2023 Carrying amount Expected credit loss Percentage expected credit loss Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Indirect loans Commerce 297,127 40,894 2,230 340,251 512 340 279 1,131 0.2 % 0.8 % 12.5 % 0.3 % Manufacturing 505,674 148,827 — 654,501 548 291 — 839 0.1 % 0.2 % 0.0 % 0.1 % Professional, scientific and technical activities 1,145,646 110,916 982 1,257,544 1,994 788 105 2,887 0.2 % 0.7 % 10.7 % 0.2 % Communications, storage and transportation 541,561 25,927 — 567,488 697 349 — 1,046 0.1 % 1.3 % 0.0 % 0.2 % Agriculture 9,031 37 — 9,068 21 — — 21 0.2 % 0.0 % 0.0 % 0.2 % Electricity, gas, water and oil 308,428 938 — 309,366 311 6 — 317 0.1 % 0.6 % 0.0 % 0.1 % Leaseholds and real estate activities 41,097 16,276 259 57,632 298 119 48 465 0.7 % 0.7 % 18.5 % 0.8 % Construction and infrastructure 306,042 212,589 12,288 530,919 1,021 1,797 6,932 9,750 0.3 % 0.8 % 56.4 % 1.8 % Others 869,649 147,021 41 1,016,711 1,222 249 5 1,476 0.1 % 0.2 % 12.2 % 0.1 % Total indirect loans 4,024,255 703,425 15,800 4,743,480 6,624 3,939 7,369 17,932 0.2 % 0.6 % 46.6 % 0.4 % 2022 Carrying amount Expected credit loss Percentage expected credit loss Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Indirect loans Commerce 264,926 40,527 76 305,529 309 424 49 782 0.1 % 1.0 % 64.5 % 0.3 % Manufacturing 518,115 134,469 — 652,584 487 153 — 640 0.1 % 0.1 % 0.0 % 0.1 % Professional, scientific and technical activities 1,183,657 75,946 485 1,260,088 1,486 700 52 2,238 0.1 % 0.9 % 10.7 % 0.2 % Communications, storage and transportation 467,018 19,117 — 486,135 489 91 — 580 0.1 % 0.5 % 0.0 % 0.1 % Agriculture 4,487 — — 4,487 7 — — 7 0.2 % 0.0 % 0.0 % 0.2 % Electricity, gas, water and oil 155,621 — — 155,621 135 — — 135 0.1 % 0.0 % 0.0 % 0.1 % Leaseholds and real estate activities 45,037 19,150 — 64,187 193 97 — 290 0.4 % 0.5 % 0.0 % 0.5 % Construction and infrastructure 412,388 130,886 24,956 568,230 4,470 4,463 8,775 17,708 1.1 % 3.4 % 35.2 % 3.1 % Others 908,192 81,735 559 990,486 778 12,277 60 13,115 0.1 % 15.0 % 10.7 % 1.3 % Total indirect loans 3,959,441 501,830 26,076 4,487,347 8,354 18,205 8,936 35,495 0.2 % 3.6 % 34.3 % 0.8 % |
Investment property (Tables)
Investment property (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of detailed information about investment property [abstract] | |
Summary of Investment Property | (a) This caption is made up as follows: 2023 2022 Acquisition or Valuation methodology (e) S/(000) S/(000) Land (i) San Isidro – Lima 269,194 264,868 2009 Appraisal San Martín de Porres – Lima 77,970 88,182 2015 Appraisal Nuevo Chimbote 34,724 33,747 2021 Appraisal Santa Clara – Lima 27,229 26,352 2017 Appraisal Sullana 23,751 22,689 2012 Appraisal Others 8,987 8,716 — Appraisal / Cost 441,855 444,554 Completed investment property - “Real Plaza” shopping malls (i) Talara 28,991 43,728 2015 DCF 28,991 43,728 Buildings (i) Ate Vitarte – Lima 160,208 149,720 2006 DCF/Appraisal Piura 131,144 123,508 2008/2020 DCF/Appraisal Orquídeas - San Isidro - Lima, (d), Note 3.4(o) 128,593 138,643 2017 DCF Chorrillos – Lima (d) 94,184 81,516 2017 DCF Paseo del Bosque (d) 87,168 96,194 2021 DCF Chimbote 47,054 45,069 2015 DCF Maestro – Huancayo 34,978 32,342 2017 DCF Cuzco 28,167 27,513 2017 DCF Panorama – Lima 22,136 20,669 2016 DCF Trujillo 16,225 15,815 2016 DCF Cercado de Lima – Lima 15,908 14,543 2017 DCF Pardo y Aliaga – Lima 14,790 16,755 2008 DCF Pardo (Vivanda) (d) 12,903 4,004 2021 DCF Others 34,588 33,144 — DCF 828,046 799,435 Total 1,298,892 1,287,717 DCF: Discounted cash flow (i) Financial assets classified by the Group as Level 3. During 2023 and 2022, there were no transfers between levels of hierarchy, see Note 3.4(z) (ii) As of December 31, 2023 and 2022, there are no liens on investment property. |
Summary of Gain on Investment Properties | (b) The net gain on investment properties as of December 31, 2023, 2022 and 2021, consists of the following: 2023 2022 2021 S/(000) S/(000) S/(000) Income from rental of investment property 65,961 65,485 57,430 Gain on valuation of investment property 7,111 19,146 21,969 Total 73,072 84,631 79,399 |
Summary of Movement of Investment Property | (c) The movement of investment property for the years ended December 31, 2023, 2022 and 2021, is as follows: 2023 2022 2021 S/(000) S/(000) S/(000) Beginning of year balances 1,287,717 1,224,454 1,043,978 Additions 16,903 34,760 156,892 Valuation gain 7,111 19,146 21,969 Net transfers, Note 3.4(o) (12,839 ) 9,357 1,615 End of year balances 1,298,892 1,287,717 1,224,454 |
Summary of Average Price of Land | Following are the minimum ranges, maximum ranges and the average price for the land, before any adjustment: Minimum range Maximum range Average US$ per m2 US$ per m2 US$ per m2 San Isidro – Lima 5,400 8,487 7,062 San Martin de Porres – Lima 1,081 1,425 1,254 Piura 650 850 743 Ate Vitarte - Lima 1,268 1,458 1,394 Other minors 156 383 232 |
Summary of Assumptions Used in Valuation of Investment Property | The main assumptions used in the valuation and estimation of the market value of investment property are detailed below: US$ / Percentage 2023 2022 Average ERV US$ 129.3 US$ 125.9 Long-term inflation 2.9 % 3.1 % Long-term occupancy rate 97.1 % 97.1 % Average growth rate of rental income 3.1 % 2.9 % Average NOI margin 93.0 % 93.7 % Discount rate 9.6 % 10.3 % |
Summary of Sensitivity Analysis in Valuation of Investment Property | The sensitivity analysis on the valuation of investment property, against changes in factors deemed relevant by Management, is presented below: 2023 2022 S/(000) S/(000) Average growth rate of rental income (basis) - Increase +0.25 % 20,853 10,474 Decrease -0.25 % (16,791 ) (10,107 ) Long-term inflation (basis) - Increase +0.25 % 17,833 16,133 Decrease -0.25 % (13,824 ) (15,017 ) Discount rate (basis) - Increase +0.5 % (50,337 ) (47,957 ) Decrease -0.5 % 62,076 55,135 |
Summary of Future Minimum Fixed Rental Income | (f) Below are the nominal amounts of the future minimum fixed rental income of the Group’s investment property (operating leases): Year 2023 2022 S/(000) S/(000) Within 1 year 69,078 61,557 After 1 year but not more than 5 years 255,898 241,546 Over 5 years 855,949 865,407 Total 1,180,925 1,168,510 |
Property, furniture and equip_2
Property, furniture and equipment, net (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of detailed information about property, plant and equipment [abstract] | |
Summary of Movement of Property, Furniture and Equipment | (a) The movement of property, furniture and equipment and depreciation for the years ended December 31, 2023, 2022 and 2021, is as follows: Right-of-use assets Description Land Buildings, Furniture Vehicles Assets and work-in-progress Buildings Furniture Total Total Total S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Cost Balance as of January 1 141,206 600,168 806,066 1,233 34,014 279,998 2,292 1,864,977 1,826,051 1,781,765 Acquisition of Izipay, Note 1(d) — — — — — — — — 90,079 — Additions — 3,684 108,077 — 35,884 35,901 — 183,546 168,214 118,974 Transfers — 6,974 4,171 — (26,494 ) — 15,349 — — — Transfer (to) from investment property, Note 3.4(o) (1,231 ) 13,426 (2 ) — — — — 12,193 (10,643 ) (2,029 ) Disposals, write-offs and others (d) (14,153 ) (11,434 ) (27,515 ) (17 ) (198 ) (14,973 ) — (68,290 ) (208,724 ) (72,659 ) Balance as of December 31 125,822 612,818 890,797 1,216 43,206 300,926 17,641 1,992,426 1,864,977 1,826,051 Depreciation Balance as of January 1 — (312,150 ) (582,287 ) (951 ) — (175,961 ) (2,196 ) (1,073,545 ) (1,010,933 ) (937,338 ) Depreciation of the year — (20,599 ) (71,113 ) (119 ) — (49,209 ) (14,983 ) (156,023 ) (133,825 ) (121,932 ) Transfer to (from) investment property, Note 3.4(o) — — — — — — — — 1,286 1,038 Disposals, write-offs and others (d) — 7,282 24,642 12 — 10,038 — 41,974 69,927 47,299 Balance as of December 31 — (325,467 ) (628,758 ) (1,058 ) — (215,132 ) (17,179 ) (1,187,594 ) (1,073,545 ) (1,010,933 ) Net book value 125,822 287,351 262,039 158 43,206 85,794 462 804,832 791,432 815,118 |
Summary of Book Values of Lease Liabilities | (e) The following table shows the book values of lease liabilities (included in the caption “Other accounts payable, provisions and other liabilities”); see Note 10(a) and the movement of the year: 2023 2022 S/(000) S/(000) As of January 1 112,581 234,946 Additions 35,900 40,610 Interest expenses, Note 19(a) 5,562 9,283 Disposals (*) (5,433 ) (106,990 ) Exchange differences (279 ) (2,948 ) Payments (57,818 ) (62,320 ) As of December 31 90,513 112,581 (*) As of December 31, 2022, these withdrawals are mainly related to the sale of land carried out by Interseguro, see (d) above. |
Summary of Amortization Schedule of Lease Liabilities | As of December 31, 2023 and 2022, the amortization schedule of these obligations is as follows: 2023 2022 S/(000) S/(000) 2023 - 38,095 2024 2,709 27,497 2025 31,956 18,571 2026 20,801 15,698 2027 onwards 35,047 12,720 Total 90,513 112,581 |
Summary of Lease Related Transactions Recognized in Income Statement | The following table shows the amounts recognized in the consolidated statement of income: 2023 2022 2021 S/(000) S/(000) S/(000) Depreciation expenses of right-of-use assets 49,305 53,134 58,698 Interest expenses of lease liabilities, Note 19(a) 5,562 9,283 14,004 Expenses related to short-term and low-value assets leases (included in administrative expenses, see Note 24(c)) 9,643 10,958 11,841 Total amount recognized in the consolidated statement of income 64,510 73,375 84,543 |
Intangible and goodwill, net (T
Intangible and goodwill, net (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of reconciliation of changes in intangible assets and goodwill [abstract] | |
Summary of Movement of Intangible Assets and Cumulative Amortization | The movement of intangible assets and amortization for the years ended December 31, 2023, 2022 and 2021, is as follows: 2023 2022 2021 Description Software Software Relationship with clients Brand Database Other intangible Goodwill Total Total Total S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Cost Balance as of January 1 1,305,807 206,420 110,042 82,546 97,016 227,580 669,075 2,698,486 1,908,144 1,748,222 Acquisition of Izipay, Note 1(d) — — — — — — — — 569,850 — Additions 189,444 85,575 — — — 5,369 — 280,388 227,270 170,528 Transfers 105,019 (104,979 ) — — — (40 ) — — — — Disposals and write-offs, Note 21(a) — — — — — (3,842 ) — (3,842 ) (6,778 ) (10,606 ) Balance as of December 31 1,600,270 187,016 110,042 82,546 97,016 229,067 669,075 2,975,032 2,698,486 1,908,144 Amortization Balance as of January 1 (942,142 ) — (8,253 ) — (7,276 ) (107,613 ) — (1,065,284 ) (863,395 ) (705,637 ) Amortization of the year (183,981 ) — (11,004 ) — (9,702 ) (18,328 ) — (223,015 ) (202,401 ) (157,758 ) Disposals and write-offs — — — — — 387 — 387 512 — Balance as of December 31 (1,126,123 ) — (19,257 ) — (16,978 ) (125,554 ) — (1,287,912 ) (1,065,284 ) (863,395 ) Net book value 474,147 187,016 90,785 82,546 80,038 103,513 669,075 1,687,120 1,633,202 1,044,749 Management assesses periodically the amortization method used with the purpose of ensuring that it is consistent with the economic benefit of the intangible assets. In Management’s opinion, there is no evidence of impairment in the Group’s intangible assets as of December 31, 2023, 2022 and 2021. |
Other accounts receivable and_2
Other accounts receivable and other assets, net, and other accounts payable, provisions and other liabilities (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Subclassifications of assets, liabilities and equities [abstract] | |
Summary Of Assets And Liabilities | (a) These captions are comprised of the following: 2023 2022 S/(000) S/(000) Other accounts receivable and other assets Financial instruments Other accounts receivable, net 663,090 622,690 POS commission receivable 420,644 122,142 Accounts receivable related to derivative financial instruments (b) 158,101 515,800 Operations in process (d) 83,640 112,195 Accounts receivable from sale of investments (c) 63,466 37,987 Others 15,640 24,753 1,404,581 1,435,567 Non-financial instruments Tax paid to recover 422,248 26,759 Deferred charges 101,551 92,865 Deferred cost of POS affiliation and registration 92,511 95,265 Tax credit for General Sales Tax – IGV 32,482 17,623 Realizable assets, received as payment and seized through legal actions 28,933 27,266 Investments in associates 22,548 22,728 POS equipment supplies (*) 14,854 18,698 Others 5,440 7,192 720,567 308,396 Total 2,125,148 1,743,963 (*) Comprises the Points of Sale (“POS”) required for the rendering of the service. Their supplies are recorded at cost, which is determined by applying the weighted average method. 2023 2022 S/(000) S/(000) Other accounts payable, provisions and other liabilities Financial instruments Contract liability with investment component, Note 3.4(d) 883,268 873,500 Other accounts payable 855,067 726,983 Third party compensation (**) 763,039 386,136 Operations in process (d) 226,428 184,584 Accounts payable related to derivative financial instruments (b) 145,395 297,038 Accounts payable for acquisitions of investments (c) 106,955 53,905 Workers’ profit sharing and salaries payable 105,734 154,460 Lease liabilities, Note 8(e) 90,513 112,581 Allowance for indirect loan losses, Note 6(d.2) 17,932 35,495 Accounts payable to reinsurers and coinsurers 7,260 5,648 3,201,591 2,830,330 Non-financial instruments Taxes payable 80,331 138,819 Provision for other contingencies 70,671 79,304 Registration for use of POS 21,962 17,029 Deferred income (***) 23,490 57,001 Others 9,315 6,681 205,769 298,834 Total 3,407,360 3,129,164 (**) Corresponds mainly to outstanding balances payable to affiliated businesses, for the consumptions made by the cards users, net of the respective fee charged by Izipay, which are mainly settled the day after the transaction was made. (***) Corresponds mainly to deferred fees for indirect loans (mainly guarantee letters) and the transactions registered in Izipay related to installments pending of accrual within the contract’s term with affiliated businesses. |
Summary of Fair Value of Derivative Financial Instruments | (b) The following table presents, as of December 31, 2023 and 2022, the fair value of derivative financial instruments recorded as assets or liabilities, including their notional amounts. The notional gross amount is the nominal amount of the derivative’s underlying asset, and it is the base over which changes in the fair value of derivatives are measured; see Note 18(a): Note Assets Liabilities Notional Effective part Maturity Hedged Caption of the S/(000) S/(000) S/(000) S/(000) 2023 Derivatives held for trading (*) - Forward exchange contracts 36,595 29,517 4,875,692 — Between January 2024 and December 2025 — — Interest rate swaps 40,350 25,196 1,530,493 — Between March 2024 and June 2036 — — Cross swaps 20,982 44,897 1,370,799 — Between January 2024 and April 2028 — — Options 1,172 1,174 279,047 — Between January 2024 and December 2024 — — 99,099 100,784 8,056,031 — Derivatives held as hedges - Cash flow hedges: Cross currency swaps (CCS) 13 (f) 2,958 7,383 1,112,700 (10,199 ) October 2026 Corporate bonds Bonds, notes and obligations outstanding Cross currency swaps (CCS) 13 (h) 56,044 — 556,950 (3,309 ) October 2027 Senior bond Bonds, notes and obligations outstanding Cross currency swaps (CCS) 12 (d.5) — 3,020 241,085 (1,374 ) Between January 2025 and June 2025 Due to banks Due to banks and correspondents Cross currency swaps (CCS) 12 (d.8) — 3,823 185,450 (1,234 ) May 2025 Due to banks Due to banks and correspondents Cross currency swaps (CCS) 12 (d.9) — 6,708 111,270 (578 ) August 2024 Due to banks Due to banks and correspondents Cross currency swaps (CCS) 12 (d.10) — 9,442 111,270 (277 ) October 2024 Due to banks Due to banks and correspondents Cross currency swaps (CCS) 13 (h) — 5,245 74,260 (2,401 ) October 2027 Senior bond Bonds, notes and obligations outstanding Cross currency swaps (CCS) 13 (h) — 5,041 74,260 (1,923 ) October 2027 Senior bond Bonds, notes and obligations outstanding Cross currency swaps (CCS) 12 (d.13) — 811 74,180 (619 ) February 2025 Due to banks Due to banks and correspondents Cross currency swaps (CCS) 12 (e.1) — 3,138 37,090 (88 ) November 2024 Due to banks Due to banks and correspondents Cross currency swaps (CCS) 13 (i) — — — (669 ) — Corporate bonds Bonds, notes and obligations outstanding 59,002 44,611 2,578,515 (22,671 ) 158,101 145,395 10,634,546 (22,671 ) Note Assets Liabilities Notional Effective part Maturity Hedged Caption of the consolidated S/(000) S/(000) S/(000) S/(000) 2022 Derivatives held for trading (*) - Forward exchange contracts 58,201 27,556 6,328,060 — Between January 2023 and December 2023 — — Interest rate swaps 77,045 141,823 2,672,533 — Between January 2023 and March 2029 — — Currency swaps 67,737 38,551 2,424,566 — Between January 2023 and June 2036 — — Cross currency swaps — 75,489 224,485 — January 2023 — — Options 99 463 80,151 — Between January 2023 and December 2023 — — 203,082 283,882 11,729,795 — Derivatives held as hedges - Cash flow hedges: Cross currency swaps (CCS) 13(i) 237,438 — 1,681,974 (20,199 ) January 2023 Corporate bonds Bonds, notes and obligations outstanding Cross currency swaps (CCS) 13(h) 75,280 — 573,000 (33,565 ) October 2027 Senior bond Bonds, notes and obligations outstanding Cross currency swaps (CCS) 12(d.9) — 3,916 114,420 360 August 2024 Due to banks Due to banks and correspondents Cross currency swaps (CCS) 12(d.10) — 6,295 114,420 (355 ) October 2024 Due to banks Due to banks and correspondents Cross currency swaps (CCS) 12(d.5) — 931 57,210 (225 ) January 2025 Due to banks Due to banks and correspondents Cross currency swaps (CCS) 12(e.1) — 2,014 38,140 (156 ) November 2024 Due to banks Due to banks and correspondents 312,718 13,156 2,579,164 (54,140 ) 515,800 297,038 14,308,959 (54,140 ) (*) During the years 2023, 2022 and 2021, the Group recognized gains for S/68,315,000 and losses for S/4,523,000 and S/60,275,000, respectively, as a result of the valuation of derivative financial instruments held for trading, which were recorded in the caption “Net (loss) gain from financial assets at fair value through profit or loss” in the consolidated statement of income. |
Summary of Future Effect of Current Cash Flow Hedges | (iv) The future effect of current cash flow hedges on the consolidated statement of income, net of the deferred Income Tax, which will be included in the caption “Net (loss) gain of financial assets at fair value through profit or loss” when realized, is presented below: As of December 31, 2023 As of December 31, 2022 Up to 1 From 1 to 3 years Over 3 years Expected Up to 1 year From 1 to 3 years Over 3 years Expected S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Consolidated statement of income – (Expense) income (2,139 ) (13,717 ) (16,077 ) (31,933 ) 429 (731 ) (8,960 ) (9,262 ) |
Summary of Cash Flow Hedges Reclassified to Consolidated Income Statements | (v) The gain (loss) for cash flow hedges reclassified to the consolidated statement of income for the years ended as of December 31, 2023 and 2022, is as follows: 2023 2022 S/(000) S/(000) Interest expenses from cash flow hedges (116,885 ) (78,300 ) Interest income from cash flow hedges 92,637 62,158 Expenses for exchange differences from cash flow hedges (136,625 ) (337,907 ) Income for exchange differences from cash flow hedges 118,180 225,399 (42,693 ) (128,650 ) |
Summary of Hedging Instruments and Its Cash Flow Hedges Due to Maturities | The following table shows hedging instruments that the Group uses in its cash flow hedges due to maturities: December 31, 2023 Up to 1 month 3 to 12 months 1 to 5 years Over 5 years Total Cross currency swaps (CCS) Notional — 259,630 2,318,885 — 2,578,515 Average interest rate in US Dollars — 3.60 % 3.07 % — — Average interest rate in Soles — 8.09 % 3.86 % — — Average exchange rate Soles / US Dollar — 3.94 3.66 — — December 31, 2022 Up to 1 month 3 to 12 months 1 to 5 years Over 5 years Total Cross currency swaps (CCS) Notional 1,681,974 — 897,190 — 2,579,164 Average interest rate in US Dollars 3.38 % — 3.80 % — — Average interest rate in Soles 4.87 % — 5.03 % — — Average exchange rate Soles / US Dollar 3.26 — 3.58 — — |
Summary of Derivatives Subject to Reform of Reference Interest Rate | (vi) The following table shows the nominal value and the weighted average maturity of derivative and non-derivative financial instruments that were subject to the reform of the reference interest rate, see Note 3.4(ah): Derivative financial instruments 2022 Derivative nominal value (*) S/(000) Average in years (*) Position purchased (LIBOR is paid) Interest rate swaps 3-month LIBOR 208,002 5.8 6-month LIBOR 278,060 8.2 486,062 Cross currency swaps 6-month LIBOR 114,420 1.5 Total 600,482 Position sold (LIBOR is received) Interest rate swaps 3-month LIBOR 251,873 5.3 6-month LIBOR 346,712 7.1 598,585 Cross currency swaps 6-month LIBOR 202,142 1.8 Total 800,727 (*) Balances as of December 31, 2022, that changed to the new benchmark rate on June 30, 2023. |
Summary of Non-Derivaties Financial Instruments Classified as Hedge Accounting | As of December 31, 2022, the Group does not present derivative financial instruments classified as hedge accounting that are subject to the interest rate benchmark reform; see Note 3.4(ah). 2022 Non-derivative financial instruments Nominal value Average in years S/(000) Asset Loans 1-month LIBOR — — 3-month LIBOR 465,494 3.8 6-month LIBOR 197,891 11.8 Total 663,385 Liability Issuances 3-month LIBOR 1,144,200 5.0 Total 1,144,200 (c) As of December 31, 2023 and 2022, corresponds to accounts receivable and payable for the sale and purchase of financial investments negotiated during the last days of the month, which were settled at the beginning of the following month. As of said dates, the balance corresponds mainly to the purchase and sale of Sovereign Bonds issued by the Peruvian Government and Global Bonds issued by the Treasury of the United States of America. (d) Operations in process include transactions made during the last days of the month and other types of similar transactions that are reclassified to their corresponding accounting accounts in the following month. These transactions do not affect the consolidated statement of income. |
Deposits and obligations (Table
Deposits and obligations (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Text Block [Abstract] | |
Summary of Deposits and Obligations | (a) This caption is made up as follows: 2023 2022 S/(000) S/(000) Saving deposits 17,756,097 20,911,746 Time deposits (e) 17,288,629 12,866,602 Demand deposits 13,376,375 13,824,824 Compensation for service time (c) 760,551 921,288 Other obligations 6,582 6,248 Total 49,188,234 48,530,708 |
Summary of Time Deposits Classified By Maturity | (e) The table below presents the balance of time deposits classified by maturity as of December 31, 2023 and 2022: 2023 2022 S/(000) S/(000) Up to 1 month 6,131,655 2,797,703 From 1 to 3 months 3,890,589 1,973,288 From 3 months to 1 year 6,458,103 6,788,680 From 1 to 5 years 512,280 1,023,473 Over 5 years 296,002 283,458 Total 17,288,629 12,866,602 |
Due to banks and corresponden_2
Due to banks and correspondents (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Text Block [Abstract] | |
Disclosure detail of dues to banks and correspondents | (a) This caption is comprised of the following: 2023 2022 S/(000) S/(000) By type - Banco Central de Reserva del Peru (b) 3,683,687 4,481,138 Promotional credit lines (c) 2,014,600 1,863,482 Loans received from foreign entities (d) 2,895,637 339,446 Loans received from Peruvian entities (e) 309,525 357,770 8,903,449 7,041,836 Interest and commissions payable 122,481 58,810 9,025,930 7,100,646 |
Disclosure detail of loans due to banks and correspondents based on term | 2023 2022 S/(000) S/(000) By term - Short term 4,852,495 2,433,459 Long term 4,173,435 4,667,187 Total 9,025,930 7,100,646 |
Loan received from foreign entities | (d) As of December 31, 2023 and 2022, corresponds to the following funding in foreign currency: Entity Country Final maturity 2023 2022 S/(000) S/(000) Standard Chartered Bank London (d.1) United Kingdom 2026 662,161 — Wells Fargo (d.2) United States of America 2024 296,720 — Citigroup Global Markets Inc. (d.3) United States of America 2026 289,867 — Sumitomo Mitsui Banking (d.4) Japan 2026 259,630 — Banco del Estado de Chile (d.5) Chile 2025 241,085 57,210 Bank of America (d.6) United States of America 2024 203,995 — Bank of Montreal (d.7) Canada 2024 185,450 — Banco Bilbao Vizcaya Argentaria NY Branch (d.8) Spain 2025 185,450 — Caixabank S.A. Barcelona (d.9) Spain 2024 166,905 114,420 JP Morgan Chase Bank NY (d.10) United States of America 2024 111,270 114,420 Bank of New York (d.11) United States of America 2024 92,725 — Bank J. Safra Sarasin (d.12) Switzerland 2024 / 2023 81,598 53,396 Standard Chartered Bank NY (d.13) United States of America 2025 74,180 — HSBC Branch India (d.14) India 2024 37,090 — Banco Interamericano de Desarrollo (d.15) Multilateral 2024 7,511 — 2,895,637 339,446 |
Summary of funding in local and foreign currency | (e) As of December 31, 2023 and 2022, corresponds to the following funding in local and foreign currency: 2023 Entity Maturity Currency Book S/(000) Banco de Credito del Peru S.A. Jan-24 / Jan-26 PEN 127,000 Scotiabank Peru S.A.A. Jan-24 / Oct-25 PEN 75,465 Bank of GNB Peru S.A. Jan-24 PEN 69,970 Bank of China (Peru) S.A.(e.1) Nov-24 USD 37,090 309,525 2022 Entity Maturity Currency Book S/(000) Scotiabank Peru S.A.A. Jan-23 / Oct-25 PEN 120,718 Banco de Credito del Peru S.A. Jan-23 / Oct-23 PEN 81,644 Bank of GNB Peru S.A. Jan-23 PEN 71,500 Bank BBVA Continental Jan-23 USD 45,768 Bank of China (Peru) S.A. (e.1) Nov-24 USD 38,140 357,770 |
Disclosure of detail maturities due to banks and correspondents | Year 2023 2022 S/(000) S/(000) 2023 — 2,433,459 2024 4,852,495 1,888,657 2025 1,185,753 1,331,489 2026 1,373,363 138,499 2027 onwards 1,614,319 1,308,542 Total 9,025,930 7,100,646 |
Bonds, notes and other obliga_2
Bonds, notes and other obligations (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of detailed information about borrowings [abstract] | |
Summary of Bonds, Notes and Other Obligations | (a) This caption is comprised of the following: Issuance Issuer Annual interest Interest Maturity Amount issued 2023 2022 (000) S/(000) S/(000) Local issuances Subordinated bonds – second program (b) Third (A series) Interbank 7.50% Semi-annually 2023 US$50,000 — 190,616 Second (A series) Interbank 5.81% Semi-annually 2023 S/150,000 — 149,998 — 340,614 Subordinated bonds – third program (b) Third - single series (c) Interseguro 4.84% Semi-annually 2030 US$25,000 92,725 95,350 First - single series Interseguro 6.00% Semi-annually 2029 US$20,000 74,102 76,213 Second - single series Interseguro 4.34% Semi-annually 2029 US$20,000 74,180 76,280 241,007 247,843 Corporate bonds – second program Fifth (A series) Interbank 3.41% Semi-annually 2029 S/150,000 150,000 150,000 Total local issuances 391,007 738,457 International issuances Subordinated bonds (d) Interbank 4.000% Semi-annually 2030 US$300,000 1,107,228 1,137,691 Corporate bonds (e) Interbank 5.000% Semi-annually 2026 S/312,000 311,644 311,522 Corporate bonds (f) Interbank 3.250% Semi-annually 2026 US$400,000 1,477,909 1,517,661 Subordinated bonds (g) Interbank 6.625% Semi-annually 2029 US$300,000 1,112,438 1,142,764 Senior bonds (h) IFS 4.125% Semi-annually 2027 US$300,000 1,045,258 1,074,396 Corporate bonds (i) Interbank 3.375% Semi-annually 2023 US$484,895 — 1,849,133 Total international issuances 5,054,477 7,033,167 Total local and international issuances 5,445,484 7,771,624 Interest payable 106,145 134,679 Total 5,551,629 7,906,303 |
Summary of Repayment Schedule of Bonds, Notes and Other Obligations | (k) As of December 31, 2023 and 2022, the repayment schedule of these obligations is as follows: Year 2023 2022 S/(000) S/(000) 2023 — 2,296,506 2024 71,709 — 2025 — — 2026 1,789,553 1,829,183 2027 onwards 3,690,367 3,780,614 Total 5,551,629 7,906,303 |
Assets and Liabilities for in_2
Assets and Liabilities for insurance and reinsurance contracts (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure Of Reconciliation Of Changes Of Assets And Liabilities For Insurance Reinsurance Contracts [Abstract] | |
Summary of caption is comprised | (a) This caption is comprised of the following: 2023 2022 Assets Liabilities Net Assets Liabilities Net S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Reinsurance contracts held (*) (26,287 ) 1,895 (24,392 ) (34,053 ) 3,476 (30,577 ) Insurance contracts issued Liability for remaining coverage — 12,000,220 12,000,220 — 11,022,665 11,022,665 Liability for incurred claims — 205,421 205,421 — 205,180 205,180 Total insurance contracts issued (b) and (c) — 12,205,641 12,205,641 — 11,227,845 11,227,845 Total insurance contracts issued and reinsurance contracts held (26,287 ) 12,207,536 12,181,249 (34,053 ) 11,231,321 11,197,268 (*) Correspond to the ceded part of the reinsurance contracts mainly life insurance contracts. |
Summary of movement of issued insurance contract liabilities | (b) The movement of issued insurance contract liabilities is presented below: 2023 Liabilities for remaining coverage Liabilities for incurred claims in contracts measured by the general model (BBA) and variable fee approach (VFA) Liabilities for incurred claims in contracts measured by the Premium Allocation Approach (PAA) Excluding loss component Loss Fulfillment Cash Flows Risk Adjustment (RA) Fulfillment Cash Flows (FCF) Risk Adjustment (RA) Total S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Balance as of January 1, 2023 10,337,035 685,630 151,594 5,411 45,278 2,897 11,227,845 Insurance revenue (720,636 ) — — — — — (720,636 ) Contracts under fair value, BBA and VFA approach (495,923 ) — — — — — (495,923 ) Contracts under PAA approach (224,713 ) — — — — — (224,713 ) Insurance service expenses 127,009 (12,547 ) 433,958 (81 ) 106,801 (1,566 ) 653,574 Incurred claims and other expenses — — 965,054 (81 ) 58,884 (1,566 ) 1,022,291 Amortization of insurance acquisition cash flows 127,009 — — — — — 127,009 Losses on onerous contracts and reversals of those losses — (12,547 ) — — — — (12,547 ) Changes to liabilities for incurred claims — — (531,096 ) — 47,917 — (483,179 ) Insurance service result (593,627 ) (12,547 ) 433,958 (81 ) 106,801 (1,566 ) (67,062 ) Insurance financial expenses 1,499,572 29,771 — — (545 ) — 1,528,798 Insurance financial result 543,941 29,771 — — (545 ) — 573,167 Interest rate effect (*), see Note 3.4(d.1) 955,631 — — — — — 955,631 Effect of movements in exchange rates (135,726 ) (3,736 ) (447 ) (73 ) (213 ) (53 ) (140,248 ) Total changes in the statement of income and other comprehensive income 770,219 13,488 433,511 (154 ) 106,043 (1,619 ) 1,321,488 Total cash flows and investment component 193,895 (47 ) (429,456 ) — (108,084 ) — (343,692 ) Premiums received 974,312 — — — — — 974,312 Claims and other expenses paid — — (996,755 ) — (108,084 ) — (1,104,839 ) Insurance acquisition cash flows (213,118 ) (47 ) — — — — (213,165 ) Investment component (567,299 ) — 567,299 — — — — Balance as of December 31, 2023 11,301,149 699,071 155,649 5,257 43,237 1,278 12,205,641 (*) Comprises the variation in market interest rate. In 2023, the rates for pension business in US Dollars presented a decrease from 6.472 percent in 2022 to 6.409 percent in 2023; whereas rates for pension business in soles presented a decrease from percent in 2023; and rates for pension business in soles VAC presented a decrease, from 4.765 2022 Liabilities for remaining coverage Liabilities for incurred claims in contracts measured by the general model (BBA) and variable fee approach (VFA) Liabilities for incurred claims contracts measured by the Premium Allocation Approach (PAA) Excluding loss component Loss Fulfillment Cash Flows Risk Adjustment Fulfillment Cash Flows (FCF) Risk Adjustment Total S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Balance as of January 1, 2022 12,063,449 509,792 164,040 5,936 43,508 1,242 12,787,967 Insurance revenue (677,175 ) — — — — — (677,175 ) Contracts under fair value, BBA and VFA approach (462,266 ) — — — — — (462,266 ) Contracts under PAA approach (214,909 ) — — — — — (214,909 ) Insurance service expenses 118,287 162,882 364,676 (509 ) 77,012 1,524 723,872 Incurred claims and other expenses — — 969,231 130 39,809 16,104 1,025,274 Amortization of insurance acquisition cash flows 118,287 — — — — — 118,287 Losses on onerous contracts and reversals of those losses — 162,882 — — — — 162,882 Changes to liabilities for incurred claims — — (604,555 ) (639 ) 37,203 (14,580 ) (582,571 ) Insurance service result (558,888 ) 162,882 364,676 (509 ) 77,012 1,524 46,697 Insurance financial expenses (1,251,364 ) 24,950 5,270 — 10,073 124 (1,210,947 ) Insurance financial result 462,970 24,950 5,270 — 10,073 124 503,387 Interest rate effect (*), see Note 3.4(d.1) (1,714,334 ) — — — — — (1,714,334 ) — — Effect of movements in exchange rates (227,427 ) (11,994 ) (894 ) (16 ) (349 ) 7 (240,673 ) Total changes in the statement of income and other comprehensive income (2,037,679 ) 175,838 369,052 (525 ) 86,736 1,655 (1,404,923 ) Total cash flows and investment component 311,265 — (381,498 ) — (84,966 ) — (155,199 ) Premiums received 1,036,338 — — — — — 1,036,338 Claims and other expenses paid — — (913,330 ) — (84,966 ) — (998,296 ) Insurance acquisition cash flows (193,241 ) — — — — — (193,241 ) Investment component (531,832 ) — 531,832 — — — — Balance as of December 31, 2022 10,337,035 685,630 151,594 5,411 45,278 2,897 11,227,845 (*) Comprises the variation in market interest rate. In 2023, the rates for pension business in US Dollars presented an increase from 3.950 percent in 2021 to 6.472 percent in 2022; whereas rates for pension business in soles presented an increase from percent in 2022; and rates for pension business in soles VAC presented an increase, from |
Summary of issued insurance contracts' net asset or liability | (c) Following is the movement of the issued insurance contracts’ net assets or liability, showing the present value estimates of future cash flows, risk adjustment and the contractual service margin (CSM) for portfolios included in the life insurance unit: 2023 2022 Estimates of the Risk Adjustment Contractual Service Total Estimates of the Risk Adjustment Contractual Service Total S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Balance as of January 1 10,256,194 277,973 599,799 11,133,966 11,867,379 343,110 491,244 12,701,733 Changes that relate to current services Contractual service margin recognised for services provided — — (80,622 ) (80,622 ) — — (70,761 ) (70,761 ) Risk adjustment recognised for the risk expired — (306 ) — (306 ) — (3,995 ) — (3,995 ) Experience adjustments (114,952 ) — — (114,952 ) 84,129 — — 84,129 Changes that relate to future services Contracts initially recognised in the period (249,907 ) 9,441 289,323 48,857 (259,667 ) 12,591 252,526 5,450 Changes in estimates that adjust the contractual service margin 98,096 609 (98,705 ) — 109,771 (16,594 ) (93,177 ) — Changes in estimates that do not adjust the contractual service margin 70,637 17,930 — 88,567 171,284 (50,137 ) — 121,147 Changes that relate to past services Adjustments to liabilities for incurred claims 2,866 — — 2,866 (16,698 ) — — (16,698 ) Insurance service result (193,260 ) 27,674 109,996 (55,590 ) 88,819 (58,135 ) 88,588 119,272 Insurance financial expenses 1,471,337 111 37,712 1,509,160 (1,226,728 ) — 27,688 (1,199,040 ) Insurance financial result 515,706 111 37,712 553,529 487,606 — 27,688 515,294 Interest rate effect (*), see Note 3.4(d.1) 955,631 — — 955,631 (1,714,334 ) — — (1,714,334 ) Effect of movements in Exchange rates (111,021 ) (2,994 ) (4,637 ) (118,652 ) (231,240 ) (7,002 ) (7,721 ) (245,963 ) Total changes in the statement of income and other comprehensive income 1,167,056 24, 791 143,071 1,334,918 (1,369,149 ) (65,137 ) 108,555 (1,325,731 ) Cash flows (350,975 ) — — (350,975 ) (242,036 ) — — (242,036 ) Premiums received 749,090 — — 749,090 816,911 — — 816,911 Claims and other expenses paid (1,008,640 ) — — (1,008,640 ) (967,912 ) — — (967,912 ) Insurance acquisition cash flows (91,425 ) — — (91,425 ) (91,035 ) — — (91,035 ) Balance as of December 31 11,072,275 302,764 742,870 12,117,909 10,256,194 277,973 599,799 11,133,966 (*) Balance does not include PPA movement of LRC and LIC amounting to S/87,732,000 and S/93,879,000 as of December 31, 2023 and 2022, respectively. |
Summary of CSM movement for insurance contract portfolios | (d) Following is the CSM movement for insurance contract portfolios for the periods 2023 and 2022: 2023 2022 Total Contracts using the fair value approach Total Contracts using the fair value approach S/(000) S/(000) Contractual Service Margin as of January 1 599,799 491,244 Changes that relate to current services Contractual service margin recognized for services provided (80,622 ) (70,761 ) Changes that relate to future services Contracts initially recognized in the period 289,323 252,526 Changes in estimates that adjust the contractual service margin (98,705 ) (93,177 ) Insurance service result 109,996 88,588 Insurance financial expenses 37,712 27,688 Effect of movements in exchange difference (4,637 ) (7,721 ) Total changes in the statement of income 143,071 108,555 Other movements — — Balance as of December 31 742,870 599,799 |
Summary of new insurance contracts issued | (e) The following table details the components of the new insurance contracts issued and included in the life insurance unit: 2023 2022 Contracts issued Contracts issued Non-onerous Onerous Total Non-onerous Onerous Total S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Life insurance contract liabilities Estimate of present value of future cash outflows, excluding insurance acquisition cash flows 683,302 99,200 782,502 740,236 119,087 859,323 Estimates of insurance acquisition cash flows 81,957 8,875 90,832 72,206 9,564 81,770 Estimate of present value of future cash outflows 765,259 108,075 873,334 812,442 128,651 941,093 Estimates of present value of future cash inflows (1,063,336 ) (59,905 ) (1,123,241 ) (1,076,183 ) (124,577 ) (1,200,760 ) Risk adjustment 8,754 687 9,441 11,215 1,376 12,591 Contractual service margin 289,323 — 289,323 252,526 — 252,526 Losses on onerous contracts at initial recognition — 48,857 48,857 — 5,450 5,450 |
Summary of CSM is expected to be in profit or loss | (f) Following is the disclosure of when the CSM is expected to be in profit or loss in future years: 2023 Less than a year From 1 to 2 years From 2 to 3 years From 3 to 4 years From 4 to 5 years More than 5 years Total S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Insurance contracts issued - Pensions (11,028 ) (10,474 ) (9,441 ) (8,398 ) (7,570 ) 294,707 247,796 Life (3,681 ) (2,111 ) (776 ) 1,271 4,240 347,975 346,918 General insurance 38,088 27,662 19,468 12,920 8,397 41,621 148,156 23,379 15,077 9,251 5,793 5,067 684,303 742,870 2022 Less than a year From 1 to 2 years From 2 to 3 years From 3 to 4 years From 4 to 5 years More than 5 years Total S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Insurance contracts issued - Pensions (7,229 ) (6,989 ) (6,421 ) (5,633 ) (4,719 ) 209,288 178,297 Life (6,205 ) (4,417 ) (2,444 ) (442 ) 1,991 294,616 283,099 General insurance 29,172 21,900 16,227 11,473 7,830 51,801 138,403 15,738 10,494 7,362 5,398 5,102 555,705 599,799 |
Summary of reconciliation of the amount included in net unrealized income for insurance premium reserves | (g) Reconciliation of the amount included in net unrealized income for insurance premium reserves. On transition to IFRS 17, the Group applied the fair value approach for certain groups of contracts with term-life cover and surrender options, see Note 3.7 for further details. The movement in the fair value reserve for related financial assets measured at fair value through other comprehensive income is disclosed below: 2023 2022 S/(000) S/(000) Cumulative other comprehensive income, opening balance 1,714,334 — (Loss) Gains recognized in other comprehensive income in the period (955,631 ) 1,714,334 Rate effect of “Renta Particular” contract (*) (14,587 ) — Cumulative other comprehensive income, closing balance 744,116 1,714,334 (*) Comprises the variation in market interest rate of contracts with investment components recorded in the caption “other accounts payable, provisions and other liabilities”, see Note 10. |
Deferred Income Tax asset and_2
Deferred Income Tax asset and liability (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of temporary difference, unused tax losses and unused tax credits [abstract] | |
Summary of Deferred Income Tax | (a) As indicated in Note 3.4(aa), the net tax position has been met based on the separate financial statement of each Subsidiary domiciled in Peru. The following table presents a summary of the items comprising the Subsidiaries’ deferred Income Tax: 2023 2022 S/(000) S/(000) Deferred asset Provision for loan portfolio and other provisions 261,713 291,634 Tax loss 23,686 28,054 Net unrealized losses from fluctuation in investments through other comprehensive income 9,853 11,688 Leveling of assets and liabilities 7,474 16,357 Deferred service income 6,975 7,485 Unrealized loss from derivatives 6,407 245 Right-of-use assets 2,787 3,405 Deferred income from indirect credits (stand-by letters) 2,272 2,319 Modification of rescheduled loan cash flows 731 (7,943 ) Recording of past-due and refinanced loans (121,928 ) (74,401 ) Others 24,543 40,593 Deferred liability Amortization of intangible assets, net (79,773 ) (62,213 ) Deemed cost of fixed assets (60,731 ) (61,403 ) Deferred cost of POS affiliation and registration (25,348 ) (26,980 ) Others (2,725 ) (3,053 ) Total deferred Income Tax asset, net 55,936 165,787 Deferred liability (*) Higher value of intangibles generated by business combination, Note 1(d) 74,744 80,852 Higher value of property, furniture and equipment and right-of-use generated by business combination, Note 1(d) 968 1,047 Total deferred Income Tax liability, net 75,712 81,899 (*) During 2022, included S/4,642,000 in results for the period. |
Major Components of Income Tax | (c) The table below presents the amounts reported in the consolidated statement of income for the years 2023, 2022 and 2021: 2023 2022 2021 S/(000) S/(000) S/(000) Current – Expense 140,332 432,392 257,252 Current – Dividend expense, Note 17(b) 33,020 30,587 39,108 Deferred – Expense (income) 102,244 (442 ) 205,752 275,596 462,537 502,112 |
Reconciliation of Effective Income Tax Rate | (d) The table below presents the reconciliation of the effective Income Tax rate to the statutory tax rate for the Group: 2023 2022 2021 S/(000) % S/(000) % S/(000) % Income before Income Tax 1,354,872 100.0 2,140,651 100.0 2,302,291 100.0 Theoretical tax 399,687 29.5 631,492 29.5 679,176 29.5 Increase (decrease) in income of Subsidiaries not domiciled in Peru 46,453 3.4 11,412 0.5 (39,498 ) (1.7 ) Non-taxable income, net (275,379 ) (20.3 ) (243,003 ) (11.4 ) (224,780 ) (9.8 ) Permanent non-deductible expenses 109,602 8.1 61,833 2.9 69,367 3.0 Non-taxable translation results (4,767 ) (0.4 ) 803 0.1 17,847 0.8 Income Tax 275,596 20.3 462,537 21.6 502,112 21.8 |
Equity (Tables)
Equity (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of classes of share capital [abstract] | |
Summary of Unrealized Results | (d) Unrealized results, net - This item is made up as follows: Unrealized gain (loss) Instruments Instruments to be reclassified to the consolidated Equity Debt Insurance Cash Translation Total S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Balances as of January 1, 2021 297,212 1,667,103 (1,255,845 ) (37,108 ) 165,411 836,773 Effect of changes in the discount rates of pension reserves, Note 3.4(d) — — 1,389,995 — — 1,389,995 Unrealized gain from equity instruments at fair value through other comprehensive income, net of unrealized loss 145,899 — — — — 145,899 Transfer to retained earnings from realized gain from equity instruments at fair value through other comprehensive income, Note 5(g) (451,898 ) — — — — (451,898 ) Unrealized gain from debt instruments at fair value through other comprehensive income, net of unrealized loss — (1,986,046 ) — — — (1,986,046 ) Transfer to realized gain from debt instruments at fair value through other comprehensive income, net of unrealized loss — (249,689 ) — — — (249,689 ) Transfer of impairment gain on debt instruments at fair value through other comprehensive income — (30,994 ) — — — (30,994 ) Variation for net unrealized loss on cash flow hedges — — — 68,615 — 68,615 Transfer of realized loss on cash flow hedges to consolidated statement of income, net of realized gain — — — 13,371 — 13,371 Translation of foreign operations — — — — 95,674 95,674 Balances as of December 31, 2021 (8,787 ) (599,626 ) 134,150 44,878 261,085 (168,300 ) Changes due to first adoption of IFRS 17, see Note 3.7 — — (134,177 ) — — (134,177 ) Balances as of January 1, 2022 - Restated (Note 3.7) (8,787 ) (599,626 ) (27 ) 44,878 261,085 (302,477 ) Effect of changes in the discount rates of pension reserves, Note 3.4(d) — — 1,711,520 — — 1,711,520 Unrealized gain from equity instruments at fair value through other comprehensive income, net of unrealized loss (21,663 ) — — — — (21,663 ) Transfer to retained earnings from realized loss from equity instruments at fair value through other comprehensive income, Note 5(g) (16,313 ) — — — — (16,313 ) Unrealized loss from debt instruments at fair value through other comprehensive income, net of unrealized loss — (1,848,192 ) — — — (1,848,192 ) Transfer to realized gain from debt instruments at fair value through other comprehensive income, net of unrealized loss — 14,263 — — — 14,263 Transfer of impairment recovery on debt instruments at fair value through other comprehensive income — 12,746 — — — 12,746 Variation for net unrealized loss on cash flow hedges — — — (70,170 ) — (70,170 ) Transfer of realized loss on cash flow hedges to consolidated statement of income, net of realized gain — — — 16,030 — 16,030 Translation of foreign operations — — — — (50,165 ) (50,165 ) Balances as of December 31, 2022 - Restated (Note 3.7) (46,763 ) (2,420,809 ) 1,711,493 (9,262 ) 210,920 (554,421 ) Effect of changes in the discount rates of pension reserves, Note 3.4(d) — (968,599 ) — — (968,599 ) Unrealized gain (loss) Instruments Instruments to be reclassified to the consolidated Equity Debt Insurance Cash Translation Total S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Unrealized gain from equity instruments at fair value through other comprehensive income, net of unrealized loss. 16,055 — — — — 16,055 Transfer to retained earnings from realized gain from equity instruments at fair value through other comprehensive income, Note 5(g) (33,433 ) — — — — (33,433 ) Unrealized gain from debt instruments at fair value through other comprehensive income, net of unrealized loss. — 1,128,206 — — — 1,128,206 Transfer to realized gain from debt instruments at fair value through other comprehensive income, net of realized loss. — (8,350 ) — — — (8,350 ) Transfer of impairment recovery on debt instruments at fair value through other comprehensive income — 7,390 — — — 7,390 Variation for net unrealized loss on cash flow hedges — — — (67,980 ) — (67,980 ) Transfer of realized loss on cash flow hedges to consolidated statement of income, net of realized gain — — — 45,309 — 45,309 Translation of foreign operations — — — — (21,970 ) (21,970 ) Balances as of December 31, 2023 (64,141 ) (1,293,563 ) 742,894 (31,933 ) 188,950 (457,793 ) |
Summary of Other Comprehensive Income Explanatory | (e) Components of other comprehensive income - The consolidated statement of comprehensive income includes: (i) other comprehensive income that will not be reclassified to the consolidated statement of income in future periods, such as the revaluation of gain (loss) in equity instruments at fair value through other comprehensive income; which will not be reclassified to the consolidated statement of income at the time of its disposal, but will be reclassified to retained earnings; and (ii) other comprehensive income to be reclassified to the consolidated statement of income in future periods, such as the comprehensive income of financial instruments derivatives used as cash flow hedges, debt instruments at fair value through other comprehensive income and translation for foreign operations. Below is the movement of the caption: 2023 2022 2021 S/(000) S/(000) S/(000) Other comprehensive income that will not be reclassified to the consolidated statement of income in future periods: Equity instruments at fair value through other comprehensive income Gains (losses) on equity instruments at fair value through other comprehensive income, net 16,055 (21,663 ) 145,899 Subtotal 16,055 (21,663 ) 145,899 Non-controlling interest 8 (43 ) 231 Income Tax 157 (218 ) 31 Total 16,220 (21,924 ) 146,161 Other comprehensive income to be reclassified to the consolidated statement of income in future periods: Debt instruments at fair value through other comprehensive income Net gain (loss) unrealized on debt instruments at fair value through other comprehensive income 1,128,206 (1,848,192 ) (1,986,046 ) Transfer to income of net realized (gain) loss on debt instruments at fair value through other comprehensive income (8,350 ) 14,263 (249,689 ) Transfer to income of loss (recovery) for impairment on debt instruments at fair value through other comprehensive income 7,390 12,746 (30,994 ) Subtotal 1,127,246 (1,821,183 ) (2,266,729 ) Non-controlling interest 3,618 (4,423 ) (6,978 ) Income Tax 3,645 (8,250 ) (8,404 ) Total 1,134,509 (1,833,856 ) (2,282,111 ) Insurance premiums reserve — — 1,389,995 Non-controlling interest — — 2,285 Total — — 1,392,280 Insurance contracts reserve at fair value, Note 14(b) (968,599 ) 1,711,520 — Non-controlling interest (1,592 ) 2,814 — Total (970,191 ) 1,714,334 — Cash flow hedges: Net (loss) gain from cash flow hedges (67,980 ) (70,170 ) 68,615 Transfer of net realized loss from cash flow hedge to consolidated statement of income 45,309 16,030 13,371 Subtotal (22,671 ) (54,140 ) 81,986 Non-controlling interest (105 ) (144 ) 261 Income Tax (6,336 ) (8,670 ) 15,696 Total (29,112 ) (62,954 ) 97,943 Foreign currency translation (21,970 ) (50,165 ) 95,674 |
Summary of Contingent Credits Weighted By Risk And Regulatory Capital Explanatory | As of December 31, 2023 and 2022, in application of the provisions of the SBS Resolutions, Interbank maintains the following amounts related to the risk weighted assets and contingent and regulatory capital (basic and supplementary): 2023 2022 S/(000) S/(000) Total risk weighted assets and credits 63,494,884 64,690,083 Total regulatory capital 9,811,486 9,754,806 Basic regulatory capital (Level 1) 7,461,727 7,016,417 Supplementary regulatory capital (Level 2) 2,349,759 2,738,389 Global capital to regulatory capital ratio 15.45 % 15.08 % |
Summary of Equity Surplus Explanatory | As of December 31, 2023 and 2022, Interseguro’s surplus equity is as follows: 2023 2022 S/(000) S/(000) Regulatory capital 1,370,151 1,338,237 Less Solvency equity (solvency margin) 698,409 714,875 Guarantee fund 455,253 250,207 Surplus 216,489 373,155 |
Summary of Risk Weighted Assets Capital Ratio | The Central Bank of the Bahamas requires Inteligo Bank to maintain a regulatory capital of not less than 8 percent of its risk weighted assets. Inteligo Bank’s capital ratio As of December 31, 2023 and 2022 is the following: 2023 2022 US$(000) US$(000) Total eligible capital 137,460 195,806 Total risk weighted assets 792,352 959,241 Capital adequacy ratio (in percentage) 17.35 20.41 |
Off-balance sheet accounts (Tab
Off-balance sheet accounts (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Off Balance Sheet Accounts [Abstract] | |
Summary Of Off Balance Sheet Accounts | (a) The table below presents the components of this caption: 2023 2022 S/(000) S/(000) Contingent credits - indirect loans (b), Note 6(a) Guarantees and stand-by letters 4,302,772 4,001,806 Import and export letters of credit 440,708 485,541 4,743,480 4,487,347 Derivatives Held for trading: Note 10(b) Forward foreign currency agreements, see Note 29.2(b)(i): Forward currency agreements – purchase 1,811,147 1,977,324 Forward currency agreements – sale 2,316,809 4,057,830 Forward foreign currency agreements in other currencies 747,736 292,906 Foreign currency options 279,047 80,151 Swap agreements, see Note 29.2(b)(ii): Currency swaps: Foreign currency delivery / receipt in Soles 283,648 644,019 2023 2022 S/(000) S/(000) Currency swaps: Soles delivery / receipt in foreign currency 1,087,151 2,028,514 Cross currency swaps — 224,485 Interest rate swaps 1,530,493 2,424,566 Designated as hedges: Note 10(b) Cash flows: Cross currency swaps 2,578,515 2,579,164 10,634,546 14,308,959 Responsibilities for credit lines granted (cancellable) (c) 11,295,837 13,213,024 Responsibilities for credit lines – commercial and others (d) 2,015,304 1,545,698 Total 28,689,167 33,555,028 (b) In the normal course of its operations, the Group performs contingent operations (indirect loans). These transactions expose the Group to additional credit risks to the amounts recognized in the consolidated statement of financial position. The Group applies the same credit policies for granting and evaluating the provisions required for direct loans when performing contingent operations (see Note 6(a)), including obtaining guarantees when deemed necessary. Guarantees vary and include deposits in financial institutions or other assets. Taking into account that most of the contingent operations are expected to expire without the Group having to disburse cash, the total committed amounts do not necessarily represent future cash requirements. (c) Responsibilities under credit lines agreements include consumer credit lines and other consumer loans that are cancellable by the Interbank. (d) Corresponds to commitments of disbursement of future loans that Interbank has committed to carry out; provided that the borrower complies with the obligations under the corresponding loan agreements, however, they may be cancelled by Interbank. |
Interest income and expenses,_2
Interest income and expenses, and similar accounts (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of Interest income and expenses and similar accounts [Abstract] | |
Summary of Information about Interest Income (Expense) | (a) This caption is comprised of the following: 2023 2022 2021 S/(000) S/(000) S/(000) Interest and similar income Interest on loan portfolio 5,353,991 4,207,420 3,274,402 Impact from the modification of contractual cash flows due to the loan rescheduling schemes (*) (29,404 ) 41,110 120,193 Interest on investments at fair value through other comprehensive income 1,208,823 1,202,788 928,660 2023 2022 2021 S/(000) S/(000) S/(000) Interest on due from banks and inter-bank funds 367,167 175,401 46,273 Interest on investments at amortized cost 172,602 161,966 130,326 Dividends on financial instruments, Note 5(e) and (f) 42,779 78,928 101,736 Others 4,453 3,689 4,035 Total 7,120,411 5,871,302 4,605,625 Interest and similar expenses Interest and fees on deposits and obligations (1,662,139 ) (863,335 ) (334,212 ) Interest and fees on obligations with financial institutions (474,362 ) (234,842 ) (156,490 ) Interest on bonds, notes and other obligations (311,665 ) (418,821 ) (433,774 ) Deposit insurance fund fees (81,171 ) (77,920 ) (70,670 ) Interest on lease payments, Note 8(e) (5,562 ) (9,283 ) (14,004 ) Others (57,467 ) (57,488 ) (48,787 ) Total (2,592,366 ) (1,661,689 ) (1,057,937 ) (*) For rescheduled loans, Interbank recalculated the carrying amount of these financial assets as the present value of the modified contractual cash flows, discounted at the loan’s original effective interest rate. During 2023, 2022 and 2021, interest was the |
Summary of Interest Income and Expenses Calculated Using Effective Interest Rate | (b) The amounts shown in paragraph (a) above, include interest income and expenses calculated using the effective interest rate (EIR), which are related to the following items: 2023 2022 2021 S/(000) S/(000) S/(000) Financial assets measured at amortized cost 5,864,356 4,585,897 3,571,194 Financial assets measured at fair value through other comprehensive income 1,208,823 1,202,788 928,660 Total interest from financial assets calculated at EIR 7,073,179 5,788,685 4,499,854 Financial liabilities measured at amortized cost 2,453,728 1,526,281 938,480 |
Fee income from financial ser_2
Fee income from financial services, net (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Fee Income From Financial Services [Abstract] | |
Disclosure of fee and commission income (expense) | (a) For the years ended December 31, 2023, 2022 and 2021, this caption is comprised of the following: 2023 2022 2021 S/(000) S/(000) S/(000) Income Performance obligations at a point in time: Accounts maintenance, carriage, transfers, and debit and credit card fees 747,568 705,188 562,542 Income from services (acquirer and issuer role) (b) 738,177 523,313 — Banking service fees 208,420 248,175 249,843 Brokerage and custody services (c) 5,811 5,836 8,457 Others 36,393 34,438 — Performance obligations over time: Funds management 137,137 153,948 184,703 Contingent loans fees 68,355 70,038 64,964 Collection services 60,648 60,931 52,955 Commission for loans rescheduling “Reactiva Peru” program 9,343 16,909 23,722 Others 19,414 23,259 37,293 Total (d) 2,031,266 1,842,035 1,184,479 Expenses 2023 2022 2021 S/(000) S/(000) S/(000) Expenses for services (acquirer and issuer role) (b) (339,846 ) (238,997 ) — Credit cards (199,464 ) (164,722 ) (128,580 ) Commissions Mastercard - Visa (85,741 ) (56,845 ) — Credit life insurance premiums (71,796 ) (97,378 ) (102,844 ) Local banks fees (58,956 ) (50,192 ) (36,836 ) Foreign banks fees (26,285 ) (24,920 ) (31,767 ) Commission for loans rescheduling “Reactiva Peru” program (12,930 ) (22,373 ) (26,215 ) Registry expenses (1,466 ) (2,046 ) (3,009 ) Brokerage and custody services (c) (675 ) (961 ) (824 ) Others (55,645 ) (46,215 ) (30,596 ) Total (852,804 ) (704,649 ) (360,671 ) Net 1,178,462 1,137,386 823,808 (b) Corresponds to the management and operation of the shared service of transaction processing of credit and debit cards, for clients of Izipay since April 2022, the month in which Izipay became a Subsidiary of IFS. (c) As of December 31, 2023, 2022 and 2021, the Group has recognized net income for transactions carried out on behalf of its clients amounting to S/5,136,000, S/4,875,000 and S/7,633,000, respectively. |
Disaggregation of revenue from contracts with customers explanatory | (d) Fee income by geographic distribution for the years ended December 31, 2023, 2022 and 2021 is presented below: 2023 2022 2021 S/(000) S/(000) S/(000) Country Peru 1,931,303 1,720,865 1,046,471 Panama 99,963 121,170 138,008 Total 2,031,266 1,842,035 1,184,479 |
Other income and (expenses) (Ta
Other income and (expenses) (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Profit (loss) [abstract] | |
Summary of Other Operating Income (Expense) | (a) This caption is comprised of the following: 2023 2022 2021 S/(000) S/(000) S/(000) Other income Maintenance, installation and sale of POS equipment 28,743 22,000 — Gain from sale of written-off-loans (c) 18,770 19,177 11,848 Gain on sale of property, furniture and equipment, Note 8(d) 15,300 11,780 — Other technical income from insurance operations 10,163 6,489 8,115 Services rendered to third parties 7,512 7,611 6,836 Income from ATM rentals 5,365 6,459 4,944 Gain from refunds and penalties — 18,783 — Income from investments in associates (b) — 18,692 33,378 Fair value adjustment of the participation held by Interbank in Izipay, Note 1(d) — 222,513 — Others 70,847 66,677 24,377 Total other income 156,700 400,181 89,498 Other expenses Commissions from insurance activities (42,400 ) (90,168 ) (37,920 ) Administrative and tax penalties (20,198 ) (7,317 ) (2,672 ) Provision for accounts receivable (13,847 ) (5,684 ) (1,123 ) Cost of sale of POS equipment (12,819 ) (27,366 ) — Sundry technical insurance expenses (10,066 ) (11,048 ) (65,757 ) Expenses related to rental income (5,814 ) (7,521 ) (4,026 ) Donations (4,529 ) (4,712 ) (4,991 ) Provision for sundry risk (4,138 ) (12,661 ) (14,872 ) Write-off of intangibles, Note 9(a) (3,455 ) (6,266 ) (10,371 ) Others (*) (67,726 ) (67,901 ) (68,460 ) Total other expenses (184,992 ) (240,644 ) (210,192 ) (*) During the years 2023 and 2022, corresponds mainly to expenses for operational write-offs and technological failures, among other minor expenses. During 2021, corresponds mainly to non-recurring expenses derived from the Covid-19 pandemic (implementation of safety protocols and remote working, among others). (b) As of December 31, 2022, includes S/5,033,000 corresponding to the participation that Interbank held in Izipay until the date of its acquisition, see Note 1(d). (c) During the years 2023, 2022 and 2021, Interbank sold written-off loan portfolios, in cash and to non-related third parties. The nominal value of the credits sold amounted to S/1,300,296,000, S/973,966,000 and S/501,540,000, respectively. |
Result from insurance activit_2
Result from insurance activities, before expenses (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure Of Effect Of Insurance Contracts Recognised [Abstract] | |
Summary of result from insurance activities explanatory | (a) This caption is comprised of the following: 2023 2022 General insurance Pensions Life Total General insurance Pensions Life Total S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Insurance service income - Contracts measured under BBA and VFA (*): CSM recognized for services rendered 49,191 3,609 27,978 80,778 43,496 1,945 25,320 70,761 Change in risk adjustment for non-financial risk 1,476 255 (1,850 ) (119 ) 1,562 (828 ) 2,014 2,748 Insurance service expenses and expected claims incurred 69,145 273,396 62,348 404,889 76,567 266,433 42,398 385,398 Recovery of cash for insurance acquisition 3,489 273 6,613 10,375 1,159 121 2,078 3,358 Contracts measured under PAA: Premiums assigned to the period 220,616 — 4,097 224,713 208,446 — 6,464 214,910 343,917 277,533 99,186 720,636 331,230 267,671 78,274 677,175 Insurance service expenses - Claims incurred expenses and other expenses (108,805 ) (798,733 ) (114,753 ) (1,022,291 ) (118,621 ) (813,703 ) (92,950 ) (1,025,274 ) Onerous contract losses and loss reversion 38,101 (37,190 ) 11,636 12,547 5,872 (174,608 ) 5,854 (162,882 ) Amortization of insurance acquisition cash flows (120,123 ) (273 ) (6,613 ) (127,009 ) (116,088 ) (121 ) (2,078 ) (118,287 ) Changes to liabilities for incurred claims (58,030 ) 477,027 64,182 483,179 11,757 521,781 49,033 582,571 (248,857 ) (359,169 ) (45,548 ) (653,574 ) (217,080 ) (466,651 ) (40,141 ) (723,872 ) Insurance service results 95,060 (81,636 ) 53,638 67,062 114,150 (198,980 ) 38,133 (46,697 ) Reinsurance income — — — (6,889 ) — — — (16,417 ) Financial result of insurance operations (b) — (542,361 ) (30,806 ) (573,167 ) — (522,725 ) 19,338 (503,387 ) Result from insurance activities (**) 95,060 (623,997 ) 22,832 (512,994 ) 114,150 (721,705 ) 57,471 (566,501 ) (*) BBA Method (Building Block Approach) and VFA Method (Variable Fee Approach). (**) Before expenses attributed to the insurance activity that are presented in the caption “Other expenses” in the consolidated statement of income, and that correspond to salaries and employee benefits, administrative expenses, depreciation and amortization and other expenses for S/334,602,000 and S/313,647,000 as of December 31, 2023 and 2022, respectively. See also financial information by segments in Note 27. |
Summary of composition of the financial result of insurance operations explanatory | (b) The composition of the financial result of insurance operations is as follows: 2023 2022 Pensions Life Total Pensions Life Total S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Financial expenses for issued insurance contracts - Changes in the obligation to pay the fair value holder of the underlying assets of direct participation agreements due to the investment’s return — (10,499 ) (10,499 ) — 27,284 27,284 Interest credited (541,468 ) (23,088 ) (564,556 ) (523,539 ) (9,526 ) (533,065 ) Changes in interest rate and other financial hypotheses (433 ) 3,257 2,824 754 1,728,374 1,729,128 Effect of changes in current estimates and in CSM adjustment rates in relation to the rates used in the initial recognition 4 (621 ) (617 ) (16 ) (1,729,032 ) (1,729,048 ) (541,897 ) (30,951 ) (572,848 ) (522,801 ) 17,100 (505,701 ) Financial income from insurance contracts - Interest credited (388 ) (1,086 ) (1,474 ) 76 72 148 Effect of changes in interest rates and other financial hypotheses (76 ) 1,130 1,054 — (1,451 ) (1,451 ) Exchange differences — — — — — — Effect of changes in current estimates and in CSM adjustment rates in relation to the rates used in the initial recognition — 101 101 — 3,617 3,617 (464 ) 145 (319 ) 76 2,238 2,314 Result from insurance activities (542,361 ) (30,806 ) (573,167 ) (522,725 ) 19,338 (503,387 ) |
Summary of net premium explanatory | (c) The composition of net premiums for the period 2021, according to IFRS 4, is as follows: Premiums Adjustment of Gross premiums Premiums ceded Net premiums S/(000) S/(000) S/(000) S/(000) S/(000) Life insurance Annuities (**) 614,899 (291,076 ) 323,823 — 323,823 Group life 136,743 (2,189 ) 134,554 (4,779 ) 129,775 Individual life 182,032 (76,339 ) 105,693 (5,494 ) 100,199 Retirement (disability and survival) (***) 8,418 (9,661 ) (1,243 ) (534 ) (1,777 ) Others 2 (13,595 ) (13,593 ) — (13,593 ) Total life insurance 942,094 (392,860 ) 549,234 (10,807 ) 538,427 Total general insurance 109,303 (2,405 ) 106,898 (58 ) 106,840 Total general 1,051,397 (395,265 ) 656,132 (10,865 ) 645,267 (*) It includes the annual variation of technical reserves and unearned premiums. (**) The variation in the adjustment of technical reserves is due mainly to aging over time. (***) In April 2016, the Congress of the Republic of Peru approved the amendment of the Private Pension System Act, through which the affiliates of the Pension Fund Administrators (AFPs) who turn 65 and retire can choose, among other existing retirement modalities, the return of 95.5 percent of the total fund available from their Individual Capitalization Account (“CIC”, by its Spanish acronym). During 2017, to offset the contraction of retirement income because of the aforementioned amendment to the SPP Act, Interseguro launched the products “Renta Particular Plus” and “Renta Particular Plus – Vitalicio”. During year 2021, premiums collected for “Renta Particular Plus – Vitalicio” amounted to S/57,479,000 and for “Renta Particular Plus” amounted to S/219,347,000. In 2021, retirement premiums amounted to S/3,713,000. |
Summary of net claims and benefits incurred for life insurance contracts and others explanatory | (d) The composition of net claims and benefits incurred for life insurance contracts and others, according to IFRS 4, is as follows: Gross claims and Ceded claims and Net insurance S/(000) S/(000) S/(000) Life insurance Annuities (687,208 ) — (687,208 ) Group life (124,308 ) 11,222 (113,086 ) Individual life (37,049 ) 8,789 (28,260 ) Retirement (disability and survival) (53,089 ) 6,505 (46,584 ) Others (14,539 ) 11 (14,528 ) General insurance (27,691 ) 11 (27,680 ) (943,884 ) 26,538 (917,346 ) |
Salaries and employee benefits
Salaries and employee benefits (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Expenses by nature [abstract] | |
Summary of salaries and employee benefits | This caption is comprised of the following: 2023 2022 2021 S/(000) S/(000) S/(000) Salaries 655,665 589,773 567,938 Vacations, health insurance and others 87,996 81,581 74,924 Social security 66,331 62,637 60,802 Severance indemnities 49,265 44,447 44,277 Workers’ profit sharing 38,018 92,042 59,441 Total 897,275 870,480 807,382 |
Administrative expenses (Tables
Administrative expenses (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Profit or loss [abstract] | |
Disclosure of general and administrative expense | (a) This caption is comprised of the following: 2023 2022 2021 S/(000) S/(000) S/(000) Services received from third parties (b) 1,202,017 1,104,822 909,212 Taxes and contributions 77,202 64,008 44,452 Rental expenses (c) and Note 8(e) 9,643 10,958 11,841 Total 1,288,862 1,179,788 965,505 |
Earnings per share (Tables)
Earnings per share (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Basic And Diluted Earning Per Share [Abstract] | |
Summary of Calculation of Weighted Average Number of Shares and Basic and Diluted Earnings per Share | The following table presents the calculation of the weighted average number of shares and the basic and diluted earnings per share, determined and calculated based on the earnings attributable to the Group, as described in Note 3.4(ad): Outstanding shares Shares considered Effective days Weighted average (in thousands) (in thousands) (in thousands) Year 2021 Balance as of January 1, 2021 115,423 115,423 365 115,423 Sale of treasury stock 1 1 267 1 Purchase of treasury stock (6 ) (6 ) 274 (5 ) Balance as of December 31, 2021 115,418 115,418 115,419 Net earnings attributable to IFS’s shareholders S/(000) 1,790,155 Basic and diluted earnings per share attributable to IFS’s shareholders (Soles) 15.510 Year 2022 Balance as of January 1, 2022 115,418 115,418 365 115,418 Balance as of December 31, 2022 115,418 115,418 115,418 Net earnings attributable to IFS’s shareholders-restated S/(000) 1,668,026 Basic and diluted earnings per share attributable to IFS’s shareholders (Soles) 14.452 Year 2023 Balance as of January 1, 2023 115,418 115,418 365 115,418 Sale of treasury stock 1 1 277 1 Purchase of treasury stock (939 ) (939 ) 158 (407 ) Balance as of December 31, 2023 114,480 114,480 115,012 Net earnings attributable to IFS’s shareholders S/(000) 1,072,728 Basic and diluted earnings per share attributable to IFS’s shareholders (Soles) 9.327 |
Transactions with related par_2
Transactions with related parties and affiliated entities (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of transactions between related parties [abstract] | |
Summary of Outstanding Balances between Related Parties | (a) The table below presents the main transactions with related parties and affiliated entities as of December 31, 2023 and 2022, and for the years ended December 31, 2023, 2022 and 2021: 2023 2022 S/(000) S/(000) Assets Instruments at fair value through profit or loss 1,165 99 Investments at fair value through other comprehensive income 64,229 58,378 Loans, net (b) 1,686,288 1,317,453 Accounts receivable 87,902 117,273 Other assets 21,260 32,043 Liabilities Deposits and obligations 1,066,505 1,040,975 Other liabilities 6,522 3,215 Off-balance sheet accounts Indirect loans (b) 76,652 89,707 |
Summary of Transactions between Related Parties | 2023 2022 2021 S/(000) S/(000) S/(000) Income (expenses) Interest and similar income 95,604 72,334 68,166 Rental income 25,532 31,428 30,873 Valuation of financial derivative instruments 106 149 180 Interest and similar expenses (39,749 ) (16,821 ) (3,065 ) Administrative expenses (38,711 ) (33,758 ) (44,249 ) Others, net 60,312 51,241 31,392 |
Summary of Loans Receivables Related parties | (b) As of December 31, 2023 and 2022, the detail of loans is the following: 2023 2022 Direct Loans Indirect Loans Total Direct Loans Indirect Loans Total S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Affiliated 1,389,463 3,557 1,393,020 1,108,276 18,832 1,127,108 Associates 296,825 73,095 369,920 209,177 70,875 280,052 1,686,288 76,652 1,762,940 1,317,453 89,707 1,407,160 |
Summary of Key Personnel Compensations | (d) The Group’s key personnel basic remuneration for the years ended December 31, 2023, 2022 and 2021, is presented below: 2023 2022 2021 S/(000) S/(000) S/(000) Salaries 28,325 26,964 24,768 Board of Directors’ compensations 3,151 3,923 2,861 Total 31,476 30,887 27,629 |
Business segments (Tables)
Business segments (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of operating segments [abstract] | |
Group's Financial Information | The following table presents the Group’s financial information by business segments for the years ended December 31, 2023, 2022 and 2021: 2023 Banking Insurance Wealth management Payments Holding and consolidation adjustments Total consolidated S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Total income (*) Third party 7,812,858 1,695,222 291,408 829,766 (199,126 ) 10,430,128 Inter-segment (126,620 ) (4,975 ) (1,386 ) (13,862 ) 146,843 — Total income 7,686,238 1,690,247 290,022 815,904 (52,283 ) 10,430,128 Consolidated statement of income data Interest and similar income 6,076,020 851,648 183,926 9,255 (438 ) 7,120,411 Interest and similar expenses (2,363,800 ) (126,704 ) (98,370 ) (4,907 ) 1,415 (2,592,366 ) Net interest and similar income 3,712,220 724,944 85,556 4,348 977 4,528,045 (Loss) recovery to impairment of loans (1,981,988 ) — 170 — — (1,981,818 ) (Loss) recovery due to impairment of financial investments 15 (7,858 ) 347 — (4 ) (7,500 ) Net interest and similar income after impairment loss on loans 1,730,247 717,086 86,073 4,348 973 2,538,727 Fee income from financial services, net 813,279 (13,431 ) 146,223 345,583 (113,192 ) 1,178,462 Net (loss) gain on sale of financial investments (660 ) 9,948 (2,857 ) — — 6,431 Other income (expenses) 495,500 112,990 (37,332 ) 45,942 (65,716 ) 551,384 Result from insurance activities, before expenses — (178,379 ) — — (13 ) (178,392 ) Depreciation and amortization (271,526 ) (21,658 ) (15,018 ) (55,144 ) (15,692 ) (379,038 ) Other expenses (1,678,356 ) (352,933 ) (138,589 ) (277,578 ) 76,327 (2,371,129 ) Income (loss) before translation result and Income Tax 1,088,484 273,623 38,500 63,151 (117,313 ) 1,346,445 Exchange difference (15,969 ) 18,430 761 (2,347 ) 7,552 8,427 Income Tax (216,366 ) — (3,081 ) (27,735 ) (28,414 ) (275,596 ) Net profit (loss) for the year 856,149 292,053 36,180 33,069 (138,175 ) 1,079,276 Attributable to: IFS’s shareholders 856,149 292,053 36,180 33,069 (144,723 ) 1,072,728 Non-controlling interest — — — — 6,548 6,548 856,149 292,053 36,180 33,069 (138,175 ) 1,079,276 (*) Corresponds to interest income, net profit on the sale of financial investments, other income, income from commissions for banking services and income from insurance services. 2022 Banking (**) Insurance Wealth management Payments(***) Holding and consolidation adjustments Total consolidated S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Total income (*) Third party 6,459,232 1,663,992 75,706 595,360 138,647 8,932,937 Inter-segment (125,848 ) (3,288 ) (1,668 ) (12,548 ) 143,352 — Total income 6,333,384 1,660,704 74,038 582,812 281,999 8,932,937 Consolidated statement of income data Interest and similar income 4,774,378 940,894 155,116 1,569 (655 ) 5,871,302 Interest and similar expenses (1,476,942 ) (130,049 ) (50,306 ) (1,269 ) (3,123 ) (1,661,689 ) Net interest and similar income 3,297,436 810,845 104,810 300 (3,778 ) 4,209,613 (Loss) recovery to impairment of loans (832,919 ) — 2,368 — — (830,551 ) Loss due to impairment of financial investments (732 ) (26 ) (11,981 ) — (13 ) (12,752 ) Net interest and similar income after impairment loss on loans 2,463,785 810,819 95,197 300 (3,791 ) 3,366,310 Fee income from financial services, net 797,711 (7,160 ) 163,325 258,728 (75,218 ) 1,137,386 Net loss on sale of financial investments (2,891 ) (1,613 ) (9,781 ) — — (14,285 ) Other income 478,308 47,536 (234,702 ) 36,040 229,528 556,710 Result from insurance activities, before expenses — (252,854 ) — — — (252,854 ) Depreciation and amortization (257,210 ) (23,682 ) (15,044 ) (30,185 ) (10,105 ) (336,226 ) Other expenses (1,673,581 ) (318,528 ) (130,453 ) (202,565 ) 34,215 (2,290,912 ) Income (loss) before translation result and Income Tax 1,806,122 254,518 (131,458 ) 62,318 174,629 2,166,129 Exchange difference (22,800 ) 950 (7,146 ) 2,316 1,202 (25,478 ) Income Tax (409,201 ) — (2,791 ) (23,560 ) (26,985 ) (462,537 ) Net profit (loss) for the year 1,374,121 255,468 (141,395 ) 41,074 148,846 1,678,114 Attributable to: IFS’s shareholders 1,374,121 255,468 (141,395 ) 41,074 138,758 1,668,026 Non-controlling interest — — — — 10,088 10,088 1,374,121 255,468 (141,395 ) 41,074 148,846 1,678,114 (*) Corresponds to interest income, net profit on the sale of financial investments, other income, income from commissions for banking services and income from insurance services. (**) Includes 50 percent of Interbank’s participation in Izipay until March 2022, for the (***) As of December 31, 2022, the payments segment corresponds to the profit generated by Izipay during the nine-month period ended December 31, 2022. 2021 Banking (**) Insurance Wealth management Holding and consolidation adjustments Total consolidated S/(000) S/(000) S/(000) S/(000) S/(000) Total income (*) Third party 4,866,775 1,676,185 487,339 (49,914 ) 6,980,385 Inter-segment (99,094 ) (383 ) (3,402 ) 102,879 — Total income 4,767,681 1,675,802 483,937 52,965 6,980,385 Consolidated statement of income data Interest and similar income 3,636,810 802,961 154,328 11,526 4,605,625 Interest and similar expenses (893,060 ) (117,531 ) (39,840 ) (7,506 ) (1,057,937 ) Net interest and similar income 2,743,750 685,430 114,488 4,020 3,547,688 Impairment loss on loans (379,034 ) — (2,543 ) — (381,577 ) (Loss) recovery due to impairment of financial investments (527 ) 33,198 (1,615 ) (158 ) 30,898 Net interest and similar income after impairment loss on loans 2,364,189 718,628 110,330 3,862 3,197,009 Fee income from financial services, net 677,461 (6,802 ) 196,959 (43,810 ) 823,808 Net gain on sale of financial investments 99,938 146,797 3,623 268 250,626 Other income 452,566 87,919 132,429 (17,898 ) 655,016 Total net premiums earned minus claims and benefits — (272,037 ) — (42 ) (272,079 ) Depreciation and amortization (245,432 ) (25,035 ) (14,977 ) 5,754 (279,690 ) Other expenses (1,542,487 ) (325,242 ) (128,444 ) 13,094 (1,983,079 ) Income (loss) before translation result and Income Tax 1,806,235 324,228 299,920 (38,772 ) 2,391,611 Exchange difference 7,241 (51,493 ) (7,570 ) (37,498 ) (89,320 ) Income Tax (453,198 ) — (8,805 ) (40,109 ) (502,112 ) Net profit (loss) for the year 1,360,278 272,735 283,545 (116,379 ) 1,800,179 Attributable to: IFS’s shareholders 1,360,278 272,735 283,545 (126,403 ) 1,790,155 Non-controlling interest — — — 10,024 10,024 1,360,278 272,735 283,545 (116,379 ) 1,800,179 (*) Corresponds to interest income, net profit on the sale of financial investments, other income, income from commissions for banking services and income from insurance services. (**) Includes 50 percent of Interbank’s profit from Izipay, which were recorded in the caption “Other income”. |
Purchase of properties | 2023 Banking Insurance Wealth management Payments Holding and consolidation adjustments Total S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Capital investments (*) 327,513 21,184 6,430 89,646 163 444,936 Total assets 68,437,614 15,225,254 4,374,266 1,196,049 391,596 89,624,779 Total liabilities 60,380,895 14,787,105 3,453,408 946,660 48,610 79,616,678 2022 Banking Insurance Wealth management Payments Holding and Consolidation adjustments Total S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Capital investments (*) 258,887 41,599 3,443 92,133 1,004 397,066 Total assets 66,977,277 14,133,681 5,102,598 902,610 365,923 87,482,089 Total liabilities 59,498,433 13,769,222 4,208,369 686,292 (106,454 ) 78,055,862 (*) Includes the purchase of property, furniture and equipment, intangible assets and investment properties. |
Financial instruments classif_2
Financial instruments classification (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Disclosure of detailed information about financial instruments [abstract] | |
Disclosure of detailed information about financial instruments | The financial assets and liabilities of the consolidated statement of financial position as of December 31, 2023 and 2022 are presented below. As of December 31, 2023 At fair value through profit Debt instruments Equity instruments Amortized cost Total S/(000) S/(000) S/(000) S/(000) S/(000) Financial assets Cash and due from banks — — — 9,818,711 9,818,711 Inter-bank funds — — — 524,915 524,915 Financial investments 1,556,540 21,246,569 444,878 3,474,004 26,721,991 Loans, net — — — 46,520,382 46,520,382 Due from customers on acceptances — — — 40,565 40,565 Other accounts receivable and other assets, net 158,101 — — 1,246,480 1,404,581 Reinsurance contracts assets — — — 26,287 26,287 1,714,641 21,246,569 444,878 61,651,344 85,057,432 Financial liabilities Deposits and obligations — — — 49,188,234 49,188,234 Inter-bank funds — — — 119,712 119,712 Due to banks and correspondents — — — 9,025,930 9,025,930 Bonds, notes and other obligations — — — 5,551,629 5,551,629 Due from customers on acceptances — — — 40,565 40,565 Insurance and reinsurance contract liabilities — — — 12,207,536 12,207,536 Other accounts payable, provisions and other liabilities 145,395 — — 3,056,196 3,201,591 145,395 — — 79,189,802 79,335,197 As of December 31, 2022 At fair value through profit Debt instruments Equity instruments Amortized cost Total S/(000) S/(000) S/(000) S/(000) S/(000) Financial assets Cash and due from banks — — — 13,193,411 13,193,411 Inter-bank funds — — — 296,119 296,119 Financial investments 1,932,993 17,038,942 512,884 3,302,779 22,787,598 Loans, net — — — 45,502,998 45,502,998 Due from customers on acceptances — — — 45,809 45,809 Other accounts receivable and other assets, net 515,800 — — 919,767 1,435,567 Reinsurance contacts assets — — — 34,053 34,053 2,448,793 17,038,942 512,884 63,294,936 83,295,555 Financial liabilities Deposits and obligations — — — 48,530,708 48,530,708 Inter-bank funds — — — 30,012 30,012 Due to banks and correspondents — — — 7,100,646 7,100,646 Bonds, notes and other obligations — — — 7,906,303 7,906,303 Due from customers on acceptances — — — 45,809 45,809 Insurance and reinsurance contract liabilities — — — 11,231,321 11,231,321 Other accounts payable, provisions and other liabilities 297,038 — — 2,533,292 2,830,330 297,038 — — 77,378,091 77,675,129 |
Financial risk management (Tabl
Financial risk management (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Financial Risk Management [Line Items] | |
Disclosure Of Internal Credit Exposures Explanatory | In the case of Interbank, its Credit Risk Department determines its risk level according to the following classification, as of December 31, 2023 and 2022: 2023 Banking Segment High grade PD less than or equal Standard grade PD range (*) Grade lower than PD equal to or higher Personal Banking Credit card 7.12% 7.13% - 16.98% 16.99% Mortgage 2.07% 2.08% - 6.80% 6.81% Payroll loans 2.80% 2.81% - 6.43% 6.44% Consumer 9.32% 9.33% - 20.78% 20.79% Vehicular 9.13% 9.14% - 22.90% 22.91% Small Business Banking 15.26% 15.27% - 31.69% 31.70% Corporate 0.22% 0.22% 0.22% Commercial Banking Institutional 0.55% 0.55% 0.55% Companies 5.23% 5.24% - 9.67% 9.68% Real estate 3.71% 3.71% 3.71% 2022 Banking Segment High grade PD less than or equal (*) Standard grade Grade lower than PD equal to or higher (*) Credit card 7.36% 7.37% - 17.52% 17.53% Mortgage 1.15% 1.16% - 3.76% 3.77% Payroll loans 3.94% 3.95% - 16.89% 16.90% Personal Banking Consumer 7.94% 7.95% - 18.15% 18.16% Vehicular 3.24% 3.25% - 9.09% 9.10% Small Business Banking 15.05% 15.06% - 24.59% 24.60% Corporate 0.28% 0.28% 0.28% Commercial Banking Institutional 0.28% 0.28% 0.28% Companies 3.72% 3.73% - 6.84% 6.85% Real estate 1.66% 1.66% 1.66% (*) The probability of default is exclusively determined by the statistical model and, therefore, does not include the subsequent adjustments to the model, detailed in Note 29.1 (d.7) |
Disclosure Of Detailed Information About Estimation Method Used For Percentage Of Default Text Block | Given the nature of the portfolios and the availability of historical information, the method to estimate the PD for each portfolio is presented below: Banking / Segments Transition matrix Default ratio Personal banking: Credit cards X Mortgage X Payroll loans X Consumer X Vehicular X Small business banking X Commercial banking Corporate X Institutional X Companies X Real estate X |
Summary of Expected Loss by Post-Model Adjustments | Following is the amount of the expected loss to direct and indirect loans as of December 31, 2023, as determined by the model, and the subsequent adjustments to the model explained in previous paragraphs: Expected loss Subsequent Expected loss (total) S/(000) S/(000) S/(000) Commercial loans 278,145 18,107 296,252 Consumer loans 1,709,256 153,126 1,862,382 Mortgage loans 84,731 2,464 87,195 Small and micro-business loans 114,629 6,899 121,528 Total 2,186,761 180,596 2,367,357 Following is the amount of the expected loss to direct and indirect loans as of December 31, 2022, as determined by the model, and the subsequent adjustments to the model explained in previous paragraphs: Expected loss Subsequent Expected loss S/(000) S/(000) S/(000) Commercial loans 261,187 21,231 282,418 Consumer loans 1,296,560 325,822 1,622,382 Mortgage loans (*) 61,618 — 61,618 Small and micro-business loans 90,685 6,247 96,932 Total 1,710,050 353,300 2,063,350 (*) Considering the nature of these loans, it has not been necessary to determine a subsequent adjustment in the model. |
Disclosure Of Macro Economic Variables | Macroeconomic variables used as of December 31, 2023: Scenario 2024 2025 2026 Domestic demand (annual % var.) Optimistic 3.3 % 2.9 % 2.8 % Base 3.0 % 2.7 % 2.4 % Pessimistic 1.8 % 2.8 % 2.3 % Private formal employment (annual % var.) Optimistic 3.0 % 3.1 % 2.6 % Base 2.7 % 2.9 % 2.5 % Pessimistic 1.8 % 2.9 % 3.1 % Real disposable income per capita (annual % var.) Optimistic 2.3 % 1.8 % 2.9 % Base 2.0 % 1.6 % 2.6 % Pessimistic 0.7 % 1.7 % 2.3 % Real formal salary (annual % var.) Optimistic 1.3 % 1.7 % 2.1 % Base 1.1 % 1.6 % 1.9 % Pessimistic (2.6 %) 0.6 % 1.0 % Real informal salary (annual % var.) Optimistic 3.3 % 3.0 % 3.1 % Base 2.9 % 2.9 % 2.8 % Pessimistic (0.1 %) 1.8 % 2.2 % Macroeconomic variables used as of December 31, 2022: Scenario 2023 2024 2025 Gross domestic product (annual % var.) Optimistic 2.6 % 3.1 % 3.2 % Base 2.3 % 2.5 % 2.8 % Pessimistic 1.3 % 2.0 % 2.4 % Unemployment rate (annual % var.) Optimistic (13.8 %) (3.9 %) (3.6 %) Base (10.1 %) (3.7 %) (3.5 %) Pessimistic (5.5 %) (3.5 %) (3.3 %) Domestic demand (annual % var.) Optimistic 1.7 % 2.5 % 2.8 % Base 1.1 % 1.7 % 2.3 % Pessimistic (0.1 %) 1.0 % 1.9 % Formal average salary (annual % var.) Optimistic (0.7 %) 1.3 % 1.4 % Base (1.4 %) 1.0 % 1.2 % Pessimistic (3.6 %) (0.7 %) 0.5 % Informal average salary (annual % var.) Optimistic 1.8 % 3.4 % 3.5 % Base 1.0 % 2.9 % 3.0 % Pessimistic (1.1 %) 1.3 % 2.3 % |
Disclosure Of Impact Of Multiple Scenarios On The Allowance | The following tables summarize the impact of multiple scenarios on the expected credit loss of direct and indirect loans (optimistic, base and pessimistic): % Total S/(000) December 31, 2023 Optimistic 7 159,536 Base 49 1,127,461 Pessimistic 44 1,080,360 Total 2,367,357 % Total S/(000) December 31, 2022 Optimistic 10 198,113 Base 52 1,050,333 Pessimistic 38 814,904 Total 2,063,350 |
Disclosure Of Fair Value Of The Loan Guarantees | The fair value of the loan guarantees as of December 31, 2023 and 2022, is presented below: Fair value of the credit guarantee under the base scenario As of December 31, 2023 Maximum exposure Cash Investments Properties Others Total guarantee (*) Net exposure Expected loss S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Subject to impairment Financial assets Cash and due from banks 9,818,711 — — — — — 9,818,711 — Commercial loans 21,155,476 665,532 1,242,105 11,585,327 3,202,231 16,695,195 4,460,281 278,466 Small and micro-business loans 933,824 — — — — — 933,824 121,377 Consumer loans 16,325,460 — — — — — 16,325,460 1,862,384 Mortgage loans 9,834,398 — — 17,005,359 — 17,005,359 (7,170,961 ) 87,198 Direct loans 48,249,158 665,532 1,242,105 28,590,686 3,202,231 33,700,554 14,548,604 2,349,425 Debt instruments at amortized cost 3,474,004 — — — — — 3,474,004 62 Total financial assets at amortized cost 61,541,873 665,532 1,242,105 28,590,686 3,202,231 33,700,554 27,841,319 2,349,487 Debt instruments at fair value through other comprehensive income 21,246,569 — — — — — 21,246,569 61,046 Total debt instruments at fair value through other comprehensive income 21,246,569 — — — — — 21,246,569 61,046 Not subject to impairment Derivative financial instruments - Trading 99,099 9,755 — — — 9,755 89,344 — Derivative financial instruments - Hedges 59,002 — — — — — 59,002 — Financial assets at fair value through profit or loss 1,556,540 — — — — — 1,556,540 — Total financial instruments at fair value through profit or loss 1,714,641 9,755 — — — 9,755 1,704,886 — 84,503,083 675,287 1,242,105 28,590,686 3,202,231 33,710,309 50,792,774 2,410,533 Financial guarantees (guarantees and stand-by letters) 4,302,772 37,039 111,984 1,838,666 775,774 2,763,463 1,539,309 17,667 Letters of credit for customers 440,708 4,984 27,936 — 10,000 42,920 397,788 265 Indirect loans 4,743,480 42,023 139,920 1,838,666 785,774 2,806,383 1,937,097 17,932 89,246,563 717,310 1,382,025 30,429,352 3,988,005 36,516,692 52,729,871 2,428,465 Fair value of the credit guarantee under the base scenario As of December 31, 2022 Maximum exposure to Cash Investments Properties Others Total guarantee (*) Net exposure Expected loss S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Subject to impairment Financial assets Cash and due from banks 13,193,411 — — — — — 13,193,411 — Commercial loans 21,412,126 815,190 1,380,441 11,327,344 4,361,481 17,884,456 3,527,670 247,084 Small and micro-business loans 1,358,481 — — — — — 1,358,481 96,768 Consumer loans 14,967,799 — — — — — 14,967,799 1,622,381 Mortgage loans 9,286,944 — — 16,578,513 — 16,578,513 (7,291,569 ) 61,622 Direct loans 47,025,350 815,190 1,380,441 27,905,857 4,361,481 34,462,969 12,562,381 2,027,855 Debt instruments at amortized cost 3,302,779 — — — — — 3,302,779 — Total financial assets at amortized cost 63,521,540 815,190 1,380,441 27,905,857 4,361,481 34,462,969 29,058,571 2,027,855 Debt instruments at fair value through other comprehensive income 17,038,942 — — — — — 17,038,942 53,974 Total debt instruments at fair value through other comprehensive income 17,038,942 — — — — — 17,038,942 53,974 Not subject to impairment Derivative financial instruments - Trading 203,082 235,133 — — — 235,133 (32,051 ) — Derivative financial instruments - Hedges 312,718 — — — — — 312,718 — Financial assets at fair value through profit or loss 1,932,993 — — — — — 1,932,993 — Total financial instruments at fair value through profit or loss 2,448,793 235,133 — — — 235,133 2,213,660 — 83,009,275 1,050,323 1,380,441 27,905,857 4,361,481 34,698,102 48,311,173 2,081,829 Financial guarantees (guarantees and stand-by letters) 4,001,806 17,363 46,810 1,404,684 1,165,573 2,634,430 1,367,376 35,124 Letters of credit for customers 485,541 — 29,588 — 3,814 33,402 452,139 371 Indirect loans 4,487,347 17,363 76,398 1,404,684 1,169,387 2,667,832 1,819,515 35,495 87,496,622 1,067,686 1,456,839 29,310,541 5,530,868 37,365,934 50,130,688 2,117,324 The following table shows the analysis of the fair values of the guarantees classified in Stage 3: Fair value of the credit guarantee under the base scenario As of December 31, 2023 Maximum Cash Investments Guarantees Properties Others Total guarantee (*) Net exposure Expected loss S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Commercial loans 398,159 — 962 — 608,852 55,610 665,424 (267,265 ) 162,385 Small and micro-business loans 106,028 — — — — — — 106,028 70,818 Consumer loans 733,096 — — — — — — 733,096 682,417 Mortgage loans 273,405 — — — 679,945 — 679,945 (406,540 ) 54,651 Total 1,510,688 — 962 — 1,288,797 55,610 1,345,369 165,319 970,271 Indirect loans 15,800 — 275 — 7,451 — 7,726 8,074 7,369 1,526,488 — 1,237 — 1,296,248 55,610 1,353,095 173,393 977,640 Fair value of the credit guarantee under the base scenario As of December 31, 2022 Maximum Cash Investments Guarantees Properties Others Total guarantee (*) Net exposure Expected loss S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Commercial loans 408,104 10 2,818 — 495,872 66,074 564,774 (156,670 ) 154,299 Small and micro-business loans 91,195 — — — — — — 91,195 51,709 Consumer loans 452,301 — — — — — — 452,301 430,902 Mortgage loans 238,527 — — — 624,486 — 624,486 (385,959 ) 45,101 Total 1,190,127 10 2,818 — 1,120,358 66,074 1,189,260 867 682,011 Indirect loans 26,076 — — — — — — 26,076 8,936 1,216,203 10 2,818 — 1,120,358 66,074 1,189,260 26,943 690,947 (*) Includes the total fair value of the guarantees held by the Group as of December 31, 2023 and 2022, regardless of the balance of the loan it guarantees. |
Summary of Classification of Risk | The Group determines its risk level according to the following classification as of December 31, 2023 and 2022: High grade Standard grade Grade lower than standard 2023 Rating: from AAA to A Rating: from BBB to B Rating: from CCC to C PD less than or equal to: PD range PD equal to or higher than: Global 0.04% — 0.11% 0.12% — 2.11% 22.97% Latin America 0.00% 0.09% — 2.91% 22.80% Sovereigns 0.00% 0.00% — 1.87% 25.45% High grade Standard grade Grade lower than standard 2022 Rating: from AAA to A Rating: from BBB to B Rating: from CCC to C PD less than or equal to: PD range PD equal to or higher than: Global 0.05% — 0.11% 0.12% — 2.09% 23.34% Latin America 0.00% 0.09% — 3.02% 24.64% Sovereigns 0.00% 0.00% — 1.55% 27.08% |
Disclosure Of External Credit Exposures Explanatory | The table below presents the credit risk ratings issued by risk rating agencies of recognized prestige local and international financial investments: As of December 31, 2023 As of December 31, 2022 S/(000) % S/(000) % Instruments issued and rated in Peru: AAA — 0.0 2,944 0.0 BBB- / BBB+ 2,611,807 9.8 2,387,376 10.5 BB- / BB+ 652,347 2.4 685,424 3.0 B- / B+ 4,770 0.0 — 0.0 3,268,924 12.2 3,075,744 13.5 Instruments issued in Peru and rated abroad: BBB- / BBB+ 13,174,718 49.3 11,710,437 51.4 BB- / BB+ 490,215 1.8 545,868 2.4 B- / B+ 214,083 0.8 — 0.0 13,879,016 51.9 12,256,305 53.8 Instruments issued and rated abroad: AAA 11,105 0.0 41,198 0.2 AA- / AA+ 145,599 0.5 26,077 0.1 A- / A+ 656,237 2.5 489,765 2.2 BBB- / BBB+ 2,565,054 9.6 2,247,646 9.9 BB- / BB+ 228,812 0.9 295,812 1.3 B- / B+ 16,190 0.1 61,089 0.3 Less than B- 1,723 0.0 983 0.0 3,624,720 13.6 3,162,570 13.9 Unrated Negotiable certificates of deposit issued by the BCRP 3,448,984 12.9 43,868 0.2 Mutual funds and investment funds participations (*) 1,099,282 4.1 1,402,848 6.2 Securitized bonds 3,008 0.0 — 0.0 Others 81,910 0.3 1 0.0 Certificates of deposits with variable interest rates issued by the BCRP — 0.0 1,434,836 6.3 Listed shares 660,839 2.5 790,408 3.5 Non-listed shares and participations 229,933 0.9 226,953 1.0 Total 26,296,616 98.4 22,393,533 98.3 Accrued interest 425,375 1.6 394,065 1.7 Total 26,721,991 100.0 22,787,598 100.0 (*) Includes mutual and investment funds which do not have risk rating. |
Disclosure Of Credit Risk Exposure Explanatory | Financial instruments exposed to credit risk were distributed according to the following economic sectors: As of December 31, 2023 Designated at fair value Debt instruments Equity instruments through other Amortized cost Total S/(000) S/(000) S/(000) S/(000) S/(000) Consumer loans — — — 16,354,337 16,354,337 Government of Peru — 8,239,321 — 3,307,309 11,546,630 Mortgage loans — — — 9,844,293 9,844,293 BCRP — 3,448,984 — 5,926,921 9,375,905 Financial services 1,450,713 1,609,137 121,083 5,834,322 (*) 9,015,255 Manufacturing 79,551 807,805 119,938 4,513,506 5,520,800 Professional, scientific and technical activities 841 207,340 — 4,385,889 4,594,070 Commerce 1,144 224,148 — 3,791,306 4,016,598 Construction and infrastructure 2,915 2,566,009 31,917 559,070 3,159,911 Electricity, gas, water and oil 14,561 1,698,582 81,438 936,836 2,731,417 Mining 1,079 1,125,295 — 1,333,655 2,460,029 Communications, storage and transportation 126,455 496,130 78,384 1,249,526 1,950,495 Agriculture 989 26,339 2,806 1,894,430 1,924,564 Commercial and micro-business loans — — — 804,212 804,212 Leaseholds and real estate activities 15,751 184,898 5,707 590,501 796,857 Fishing — — 3,605 600,848 604,453 Community services 871 4,710 — 594,254 599,835 Medicine and biotechnology — 31,367 — 450,704 482,071 Education, health and other services 2 99,097 — 240,736 339,835 Public administration and defense 16,075 41,187 — 42,714 99,976 Foreign governments — 89,007 — — 89,007 Insurance 3,694 8,501 — 2,034 14,229 Others — 4,327 — 31,727 36,054 Total 1,714,641 20,912,184 444,878 63,289,130 86,360,833 Impairment allowance for loans (2,349,425 ) Accrued interest 1,046,024 Total 85,057,432 (*) Includes mainly cash and due from banks deposited in the vaults of Interbank and in foreign banks; see Note 4. As of December 31, 2022 Designated at fair value Debt instruments Equity instruments through other Amortized cost Total S/(000) S/(000) S/(000) S/(000) S/(000) Consumer loans — — — 15,005,146 15,005,146 Financial services 2,080,295 1,694,266 170,250 7,346,592 (*) 11,291,403 Government of Peru — 7,062,066 — 3,231,139 10,293,205 Mortgage loans 22,314 — — 9,293,900 9,316,214 BCRP — 1,478,704 — 7,362,737 8,841,441 Manufacturing 74,791 559,581 111,069 4,873,701 5,619,142 Commerce 6,471 170,540 — 4,412,994 4,590,005 Professional, scientific and technical activities 3,482 196,348 — 3,930,939 4,130,769 Construction and infrastructure 5,915 2,544,815 36,759 557,474 3,144,963 Electricity, gas, water and oil 33,518 1,324,234 95,572 924,270 2,377,594 Mining 3,917 899,083 — 1,228,508 2,131,508 Agriculture 3,085 24,768 3,054 1,892,566 1,923,473 Communications, storage and transportation 140,499 294,171 86,224 1,375,071 1,895,965 Commercial and micro-business loans — — — 1,065,159 1,065,159 Leaseholds and real estate activities 27,243 156,539 5,246 606,883 795,911 Community services 9,027 — — 582,263 591,290 Fishing — — 4,710 448,166 452,876 Education, health and other services 4,367 91,518 — 293,872 389,757 Public administration and defense 23,472 106,068 — 81,371 210,911 Medicine and biotechnology — — — 190,302 190,302 Foreign governments — 113,816 — — 113,816 Insurance 6,615 — — 1,427 8,042 Others 3,782 — — 41,168 44,950 Total 2,448,793 16,716,517 512,884 64,745,648 84,423,842 Impairment allowance for loans (2,027,855 ) Accrued interest 899,568 Total 83,295,555 (*) Includes mainly cash and due from banks deposited in the vaults of Interbank and in foreign banks; see Note 4. |
Summary of Financial Instruments Exposed to Credit Risk by Geographic Area | The table below presents the financial instruments with exposure to credit risk, by geographic area: As of December 31, 2023 Designated at fair value Debt instruments measured at fair value through other comprehensive income Equity instruments Investments at amortized cost Total S/(000) S/(000) S/(000) S/(000) S/(000) Peru 118,277 17,289,485 245,411 60,879,122 78,532,295 United States of America 1,311,432 853,799 78,384 516,788 2,760,403 Mexico 15,559 1,054,480 — 17,031 1,087,070 Panama — 147,198 190 632,672 (*) 780,060 Chile 1 710,106 10,011 46,243 766,361 United Kingdom 64,727 266,974 109,045 32,562 473,308 Canada 12,898 12,095 — 369,993 394,986 Colombia 96 309,994 — 80,764 390,854 Cayman Islands 121,815 4,132 — 101,554 227,501 Brazil — 150,120 — 41,231 191,351 Ecuador — — — 190,181 190,181 Germany 24,487 582 — 58,025 83,094 Luxembourg — 14,395 — 60,909 75,304 Ireland — — — 2,896 2,896 Belgium — — 152 1 153 Others 45,349 98,824 1,685 259,158 405,016 Total 1,714,641 20,912,184 444,878 63,289,130 86,360,833 Impairment allowance for loans (2,349,425 ) Accrued interest 1,046,024 Total 85,057,432 (*) Corresponds mainly to the loan portfolio maintained by Inteligo Bank (domiciled in Panama) with Peruvian citizens. As of December 31, 2022 Designated at fair value Debt instruments measured at fair value through other comprehensive income Equity instruments Amortized cost Total S/(000) S/(000) S/(000) S/(000) S/(000) Peru 152,424 13,579,422 270,166 61,849,369 75,851,381 United States of America 1,734,175 360,279 86,224 1,479,634 3,660,312 Mexico 11,410 1,049,305 — 13,178 1,073,893 Chile 1 668,122 — 28,100 696,223 United Kingdom 192,112 306,888 154,476 27,577 681,053 Panama — 206,216 — 333,084 (*) 539,300 Canada 5,560 — — 499,111 504,671 Colombia 95 322,840 — 55,230 378,165 Germany 24,947 — — 175,061 200,008 Brazil — 153,977 — 21,258 175,235 Cayman Islands 141,149 — — — 141,149 Luxembourg 68,553 12,510 — 47,500 128,563 Ecuador — — — 4,990 4,990 Ireland — — — 455 455 Belgium — — 157 3 160 Others 118,367 56,958 1,861 211,098 388,284 Total 2,448,793 16,716,517 512,884 64,745,648 84,423,842 Impairment allowance for loans (2,027,855 ) Accrued interest 899,568 Total 83,295,555 (*) Corresponds mainly to the loan portfolio maintained by Inteligo Bank (domiciled in Panama) with Peruvian citizens. |
Disclosure Of Off setting Of Financial Assets Explanatory | (g.1) Financial assets subject to offsetting, enforceable master netting arrangements and similar agreements as of December 31, 2023 and 2022, are presented below: Gross amounts of Gross amounts of statement of financial Net amounts of financial assets Related amounts not offset in the Net amount Financial instruments (including non-cash Cash guarantees received S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) 2023 Derivatives, Note 10(b) 158,101 — 158,101 (65,099 ) (9,755 ) 83,247 Total 158,101 — 158,101 (65,099 ) (9,755 ) 83,247 2022 Derivatives, Note 10(b) 515,800 — 515,800 (169,050 ) (235,133 ) 111,617 Total 515,800 — 515,800 (169,050 ) (235,133 ) 111,617 |
Disclosure Of Off setting Of Financial Liabilities Explanatory | (g.2) Financial liabilities subject to offsetting, enforceable master netting arrangements and similar agreements as of December 31, 2023 and 2022, are presented below: Gross amounts of Gross amounts of financial position Net amounts of financial liabilities Related amounts not offset in the Net amount Financial instruments (including non-cash Cash guarantees pledged, Note 4(d) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) 2023 Derivatives, Note 10(b) 145,395 — 145,395 (65,099 ) (24,725 ) 55,571 Total 145,395 — 145,395 (65,099 ) (24,725 ) 55,571 2022 Derivatives, Note 10(b) 297,038 — 297,038 (169,050 ) (34,784 ) 93,204 Total 297,038 — 297,038 (169,050 ) (34,784 ) 93,204 |
Summary of Value at Risk by Type of Asset | The VaR results of the Group’s portfolio by type of asset are presented below: 2023 2022 S/(000) S/(000) Equity investments 26,584 41,083 Debt investments 709 5,088 Derivatives and/or exchange position 1,548 2,925 Diversification effect (237 ) (4,390 ) Consolidated VaR by type of asset (*) 28,604 44,706 The Group’s VaR results by type of risk are the following: 2023 2022 S/(000) S/(000) Exchange rate risk 4,813 4,859 Interest rate risk 1,417 4,827 Price risk 25,733 39,359 Diversification effect (3,359 ) (4,339 ) Consolidated VaR by type of risk (*) 28,604 44,706 (*) The total VaR is lower than the sum of its components due to the benefits of risk diversification. |
Schedule Of Items Exposed To Interest Rate Risk And Repricing Gap | (i.1) The following table summarizes the Group’s exposure to interest rate risk. The Group’s financial instruments are presented at book value (including interest accrued), classified by the repricing period of the contract’s interest rate or maturity date, whichever occurs first: As of December 31, 2023 Up to 1 month From 1 to 3 From 3 to 12 From 1 to 5 More than 5 Non-interest Total S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Financial assets Cash and due from banks 6,438,844 77,841 216,012 26,788 — 3,059,226 9,818,711 Inter-bank funds 524,915 — — — — — 524,915 Investments at fair value through other comprehensive income (debt and equity) 501,199 1,540,643 2,293,382 4,041,060 12,870,285 444,878 21,691,447 Investments at amortized cost 23,583 86,652 634,133 636,561 2,093,075 — 3,474,004 Loans, net (*) 4,247,703 5,611,232 11,248,432 19,392,632 6,584,178 (563,795 ) 46,520,382 Other assets (**) 1,034,215 195,323 262,343 219,298 5,590 4,222,912 5,939,681 Total assets 12,770,459 7,511,691 14,654,302 24,316,339 21,553,128 7,163,221 87,969,140 Financial liabilities Deposits and obligations 30,185,794 3,894,718 6,601,910 498,592 46,902 7,960,318 49,188,234 Inter-bank funds 119,712 — — — — — 119,712 Due to banks and correspondents 1,459,377 1,758,037 2,776,380 1,683,940 1,348,196 — 9,025,930 Bonds, notes and other obligations 200,594 1,138,301 18,233 3,960,246 234,255 — 5,551,629 Insurance and reinsurance contract liabilities 52,793 104,011 470,253 2,549,908 8,784,208 246,363 12,207,536 Other liabilities (***) 867,346 142,339 205,445 514,669 520,057 1,172,997 3,422,853 Equity — — — — — 10,008,101 10,008,101 Total liabilities and equity 32,885,616 7,037,406 10,072,221 9,207,355 10,933,618 19,387,779 89,523,995 Off- balance sheet accounts Derivatives held as assets 185,450 111,270 1,576,325 705,470 — — 2,578,515 Derivatives held as liabilities 185,450 111,270 1,576,325 705,470 — — 2,578,515 — — — — — — — Marginal gap (20,115,157 ) 474,285 4,582,081 15,108,984 10,619,510 (12,224,558 ) (1,554,855 ) Cumulative gap (20,115,157 ) (19,640,872 ) (15,058,791 ) 50,193 10,669,703 (1,554,855 ) — (*) The balance presented in column “non-interest bearing” corresponds mainly to accrued income from loans, past-due loans, loans under judicial collection and the provision for loan losses. (**) Includes investment property, property, furniture and equipment, net, banker’s acceptances, intangibles and goodwill, net, other accounts receivable and other assets, net (except accounts receivable from derivative financial instruments held for trading), reinsurance contract assets, and deferred income tax assets, net. (***) Includes banks acceptances and other accounts payable, provisions and other liabilities (except accounts payable for derivative financial instruments held for trading) and deferred income tax liability, net. As of December 31, 2022 Up to 1 month From 1 to 3 From 3 to 12 From 1 to 5 More than 5 Non-interest Total S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Financial assets Cash and due from banks 8,824,601 23,810 303,812 6,815 22,080 4,012,293 13,193,411 Inter-bank funds 296,119 — — — — — 296,119 Investments at fair value through other comprehensive income (debt and equity) 640,301 1,129,911 275,048 4,159,999 10,833,683 512,884 17,551,826 Investments at amortized cost — 71,640 494,872 1,084,113 1,652,154 — 3,302,779 Loans, net (*) 4,596,996 5,750,591 10,366,009 18,886,533 6,443,838 (540,969 ) 45,502,998 Other assets (**) 1,054,431 99,411 69,853 73,355 33,726 4,168,105 5,498,881 Total assets 15,412,448 7,075,363 11,509,594 24,210,815 18,985,481 8,152,313 85,346,014 Financial liabilities Deposits and obligations 30,713,163 1,688,546 6,098,329 1,022,471 323,521 8,684,678 48,530,708 Inter-bank funds 30,012 — — — — — 30,012 Due to banks and correspondents 606,091 1,239,640 1,072,666 3,023,988 1,158,261 — 7,100,646 Bonds, notes and other obligations 2,532,625 3,614 233,891 4,895,031 241,142 — 7,906,303 Insurance and reinsurance contract liabilities 53,926 107,091 480,885 2,555,889 7,803,150 230,380 11,231,321 Other liabilities (***) 468,255 138,932 165,118 418,962 495,123 1,286,600 2,972,990 Equity — — — — — 9,426,227 9,426,227 Total liabilities and equity 34,404,072 3,177,823 8,050,889 11,916,341 10,021,197 19,627,885 87,198,207 Off- balance sheet accounts Derivatives held as assets 1,681,974 — — 897,190 — — 2,579,164 Derivatives held as liabilities 1,681,974 — — 897,190 — — 2,579,164 — — — — — — — Marginal gap (18,991,624 ) 3,897,540 3,458,705 12,294,474 8,964,284 (11,475,572 ) (1,852,193 ) Cumulative gap (18,991,624 ) (15,094,084 ) (11,635,379 ) 659,095 9,623,379 (1,852,193 ) — (*) The balance presented in column “non-interest bearing” corresponds mainly to accrued income from loans, past-due loans, loans under judicial collection and the provision for loan losses. (**) Includes investment property, property, furniture and equipment, net, banker’s acceptances, intangibles and goodwill, net, other accounts receivable and other assets, net (except accounts receivable from derivative financial instruments held for trading), reinsurance contract assets, and deferred income tax assets, net. (***) Includes banks acceptances and other accounts payable, provisions and other liabilities (except accounts payable for derivative financial instruments held for trading). |
Summary of Increase Decrease In Interest Rate And Impact On Results Explanatory | The table below presents the sensitivity to a possible change in interest rates, with all other variables kept constant, in the consolidated statement of income and in the consolidated statement of changes in equity, before Income Tax and non-controlling interest. As of December 31, 2023 Currency Changes in basis points Sensitivity of net income Sensitivity of other net comprehensive income S/(000) S/(000) US Dollar +/-25 +/- 105 +/- 103,189 US Dollar +/-50 +/- 210 +/- 206,551 US Dollar +/-75 +/- 315 +/- 310,258 US Dollar +/-100 +/- 421 +/- 414,485 Sol +/-50 -/+ 44,656 -/+ 444,244 Sol +/-75 -/+ 66,984 -/+ 677,590 Sol +/-100 -/+ 89,313 -/+ 904,721 Sol +/-150 -/+ 133,969 -/+ 1,362,566 As of December 31, 2022 Currency Changes in basis Sensitivity of net income Sensitivity of other net S/(000) S/(000) US Dollar +/-25 +/- 9,381 +/- 108,457 US Dollar +/-50 +/- 18,762 +/- 217,095 US Dollar +/-75 +/- 28,143 +/- 326,095 US Dollar +/-100 +/- 37,524 +/- 435,640 Sol +/-50 -/+ 40,539 -/+ 388,047 Sol +/-75 -/+ 60,809 -/+ 582,844 Sol +/-100 -/+ 81,079 -/+ 778,196 Sol +/-150 -/+ 121,618 -/+ 1,171,915 |
Disclosure Of Calculation Of Sensitivity In Market Prices And The Effect On Expected Unrealized Gain Or Loss In The Consolidated Statements Of Other Comprehensive Income | However, a calculation of sensitivity in market prices and the effect on expected unrealized gain or loss in the consolidated statement of other comprehensive income, before Income Tax and non-controlling interest, as of December 31, 2023 and 2022, is presented below: Changes in 2023 2022 % S/(000) S/(000) Sensitivity to market price Shares +/-10 44,488 51,288 Shares +/-25 111,220 128,221 Shares +/-30 133,463 153,865 |
Summary of Foreign Exchange Risk Position Of Group | The table below presents the detail of the Group’s position: As of December 31, 2023 US Dollars Soles Other currencies Total S/(000) S/(000) S/(000) S/(000) Assets Cash and due from banks 6,745,220 2,710,275 363,216 9,818,711 Inter-bank funds 55,660 469,255 — 524,915 Financial investments 7,090,138 19,569,726 62,127 26,721,991 Loans, net 14,131,543 32,388,839 — 46,520,382 Due from customers on acceptances 40,565 — — 40,565 Other accounts receivable and other assets, net 242,935 1,161,624 22 1,404,581 Insurance and reinsurance contract assets 166 26,121 — 26,287 28,306,227 56,325,840 425,365 85,057,432 Liabilities Deposits and obligations 18,277,393 30,420,832 490,009 49,188,234 Inter-bank funds 63,081 56,631 — 119,712 Due to banks and correspondents 2,342,325 6,683,605 — 9,025,930 Bonds, notes and other obligations 5,049,942 501,687 — 5,551,629 Due from customers on acceptances 40,565 — — 40,565 Insurance contract liabilities 3,997,075 8,210,461 — 12,207,536 Other accounts payable, provisions and other liabilities 1,272,832 1,928,716 43 3,201,591 31,043,213 47,801,932 490,052 79,335,197 Forwards position, net (631,449 ) 505,661 125,788 — Currency swaps position, net 951,864 (951,864 ) — — Cross currency swaps position, net 2,430,155 (2,430,155 ) — — Options position, net (51 ) 51 — — Monetary position, net 13,533 5,647,601 61,101 5,722,235 As of December 31, 2022 US Dollars Soles Other currencies Total S/(000) S/(000) S/(000) S/(000) Assets Cash and due from banks 10,205,093 2,404,942 583,376 13,193,411 Inter-bank funds — 296,119 — 296,119 Financial investments 6,860,558 15,884,533 42,507 22,787,598 Loans, net 13,507,125 31,995,873 — 45,502,998 Due from customers on acceptances 45,809 — — 45,809 Other accounts receivable and other assets, net 303,720 1,131,459 388 1,435,567 Insurance and reinsurance contract assets 1,032 33,021 — 34,053 30,923,337 51,745,947 626,271 83,295,555 Liabilities Deposits and obligations 19,187,300 28,843,457 499,951 48,530,708 Inter-bank funds — 30,012 — 30,012 Due to banks and correspondents 645,706 6,454,940 — 7,100,646 Bonds, notes and other obligations 7,257,098 649,205 — 7,906,303 Due from customers on acceptances 45,809 — — 45,809 Insurance contract liabilities 4,240,359 6,990,962 — 11,231,321 Other accounts payable, provisions and other liabilities 1,229,952 1,599,519 859 2,830,330 32,606,224 44,568,095 500,810 77,675,129 Forwards, net position (1,993,217 ) 2,074,784 (81,567 ) — Currency swaps, net position 1,384,495 (1,384,495 ) — — Cross currency swaps, net position 2,354,679 (2,354,679 ) — — Options, net position (172 ) 172 — — Monetary position, net 62,898 5,513,634 43,894 5,620,426 |
Percentage Of Change In Currency Exchange Rate | The table below shows the analysis of variations of the US Dollar, the main foreign currency to which the Group has exposure as of December 31, 2023 and 2022. The analysis determines the effect of a reasonably possible variation of the exchange rate US Dollar to the Sol, considering all the other variables constant in the consolidated statement of other comprehensive income before Income Tax. A negative amount shows a potential net reduction in the consolidated statement of income, while a positive amount reflects a net potential increase: Sensitivity analysis Changes in currency rates 2023 2022 % S/(000) S/(000) Devaluation US Dollar 5 8,796 8,991 US Dollar 10 17,592 17,982 US Dollar 15 26,388 26,973 Revaluation US Dollar 5 (8,796 ) (8,991 ) US Dollar 10 (17,592 ) (17,982 ) US Dollar 15 (26,388 ) (26,973 ) |
Disclosure Of Maturity Analysis Of Undiscounted Cash Flows Payables | The following table presents the Group’s undiscounted cash flows payable according to contractual terms agreed (including the payment of future interest): As of December 31, 2023 Up to 1 month From 1 to 3 From 3 to 12 From 1 to 5 Over 5 years Total S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Financial liabilities by type - Deposits and obligations 36,150,590 4,042,302 6,874,724 1,212,870 1,473,786 49,754,272 Inter-bank funds 119,712 — — — — 119,712 Due to banks and correspondents 1,310,020 1,522,550 2,452,158 3,310,756 1,918,633 10,514,117 Bonds, notes and other obligations 24,108 1,153,716 133,232 4,280,041 428,712 6,019,809 Due from customers on acceptances 7,080 19,300 14,185 — — 40,565 Insurance and reinsurance contract liabilities — — 821,389 2,908,106 20,449,732 24,179,227 Other accounts payable, provisions and other liabilities 1,568,886 144,250 156,571 133,382 1,053,107 3,056,196 Total non-derivative liabilities 39,180,396 6,882,118 10,452,259 11,845,155 25,323,970 93,683,898 Derivatives held for trading (*) - Contractual amounts receivable (inflow) 387,872 479,652 1,261,268 993,514 516,340 3,638,646 Contractual amounts payable (outflow) 387,923 479,288 1,274,079 983,356 514,785 3,639,431 Total (51 ) 364 (12,811 ) 10,158 1,555 (785 ) Derivatives held as hedge (**) - Contractual amounts receivable (inflow) 3,763 4,061 323,273 1,750,880 — 2,081,977 Contractual amounts payable (outflow) 6,215 5,065 390,706 1,759,660 — 2,161,646 Total (2,452 ) (1,004 ) (67,433 ) (8,780 ) — (79,669 ) As of December 31, 2022 Up to 1 From 1 to 3 From 3 to From 1 to 5 Over 5 years Total S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Financial liabilities by type - Deposits and obligations 36,674,487 1,842,392 6,642,702 1,523,454 2,392,309 49,075,344 Inter-bank funds 30,012 — — — — 30,012 Due to banks and correspondents 693,550 785,085 2,040,127 2,983,773 1,591,843 8,094,378 Bonds, notes and other obligations 2,059,807 1,155 380,495 5,726,366 435,141 8,602,964 Due from customers on acceptances 18,909 4,854 22,046 — — 45,809 Insurance and reinsurance contract liabilities — 840,606 2,977,231 20,063,265 23,881,102 Other accounts payable, provisions and other liabilities 1,356,478 204,843 46,535 1,976 923,460 2,533,292 Total non-derivative liabilities 40,833,243 2,838,329 9,972,511 13,212,800 25,406,018 92,262,901 Derivatives held for trading (*) - Contractual amounts receivable (inflow) 583,440 711,292 2,059,478 841,875 344,267 4,540,352 Contractual amounts payable (outflow) 604,526 568,112 2,051,065 1,041,851 354,758 4,620,312 Total (21,086 ) 143,180 8,413 (199,976 ) (10,491 ) (79,960 ) Derivatives held as hedge (**) - Contractual amounts receivable (inflow) 1,712,865 3,289 13,772 432,103 — 2,162,029 Contractual amounts payable (outflow) 1,479,047 5,038 28,784 406,806 — 1,919,675 Total 233,818 (1,749 ) (15,012 ) 25,297 — 242,354 (*) It includes contracts whose future flows agreed to be exchanged are settled on a net basis (non-delivery) and a gross basis (full-delivery). (**) It only includes contracts wh os |
Disclosure Of Maurity Analysis Of Contingent Credits | The table below shows maturity, by contractual term, of the contingent credits (indirect loans) granted by the Group as of the dates of the consolidated statement of financial position: 2023 2022 S/(000) S/(000) Contingent credits (indirect loans) Up to 1 month 1,095,339 686,403 From 1 to 3 months 1,062,605 1,358,990 From 3 to 12 months 2,391,145 2,054,523 From 1 to 5 years 193,835 387,431 Over 5 years 556 — Total 4,743,480 4,487,347 |
Summary of changes in liabilities arising from financing activities | The following table shows the changes in liabilities arising from financing activities according to IAS 7: 2023 Balance as of Dividends Cash flow Effect of variation Others Balance as of S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Inter-bank funds 30,012 — 91,245 (1,592 ) 47 119,712 Bonds, notes and other obligations 7,906,303 — (2,189,040 ) (131,024 ) (34,610 ) 5,551,629 Lease liability related to right-of-use assets 112,581 — (57,818 ) (279 ) 36,029 90,513 Dividends payable 1,461 516,164 (516,564 ) — (150 ) 911 Total liabilities for financing activities 8,050,357 516,164 (2,672,177 ) (132,895 ) 1,316 5,762,765 2022 Balance as of Dividends Cash flow Effect of movement Others Balance as of S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Inter-bank funds — — 30,482 (470 ) — 30,012 Bonds, notes and other obligations 8,389,672 — (137,900 ) (385,850 ) 40,381 7,906,303 Lease liability related to right-of-use assets 234,946 — (62,320 ) (2,948 ) (57,097 ) 112,581 Dividends payable 1,219 756,041 (755,706 ) — (93 ) 1,461 Total liabilities for financing activities 8,625,837 756,041 (925,444 ) (389,268 ) (16,809 ) 8,050,357 |
Summary of sensitivity of life insurance contracts and reinsurance contracts | The following sensitivity analysis shows the impact (gross and net of the reinsurance held) on the contractual service margin (“CSM”), income before taxes and net equity for the reasonably possible movements in the key assumptions, the rest of the assumptions remaining constant. The correlation of the assumptions will have a significant effect on the determination of the final impacts, but to demonstrate the impact resulting from changes in each assumption, the assumptions had to be changed individually. It is worth noting that the movements of these assumptions are non-linear. When options exist, these are the main reason of the sensitivities’ asymmetry. The method used to obtain information of the sensitivity and the significant hypo theses Life insurance contracts issued 2023 2022 Change in Impact on income Impact on income Impact on net Impact on net equity of reinsurance Impact on income Impact on income Impact on Impact on S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Mortality/morbidity rate +10 % (13,198 ) (12,808 ) (5,827 ) (5,264 ) (14,085 ) (13,955 ) (4,767 ) (4,952 ) Longevity +10 % (210,185 ) (210,185 ) (172,323 ) (172,323 ) (197,945 ) (197,945 ) (130,110 ) (130,110 ) Expenses +10 % (32,980 ) (32,985 ) (28,421 ) (28,426 ) (37,627 ) (37,740 ) (29,039 ) (29,152 ) Expiration and abandonment rate +10 % 11,877 11,699 8,871 8,629 13,773 14,232 5,411 5,897 Mortality/morbidity rate - 10 % 13,048 12,642 6,062 5,488 14,494 14,021 4,995 4,851 Longevity - 10 % 147,670 147,670 114,215 114,215 146,826 146,826 86,496 86,496 Expenses - 10 % 32,960 33,006 28,407 28,453 37,611 37,658 29,024 29,071 Expiration and abandonment rate - 10 % (12,787 ) (12,522 ) (9,367 ) (9,023 ) (14,856 ) (14,182 ) (5,844 ) (5,204 ) 2023 2022 Change in Impact on CSM Impact on CSM Impact on CSM Impact on CSM S/(000) S/(000) S/(000) S/(000) Mortality/morbidity rate +10 % (24,696 ) (17,314 ) (24,079 ) (18,190 ) Longevity +10 % (37,318 ) (37,318 ) (47,424 ) (47,424 ) Expenses +10 % (20,613 ) (20,608 ) (17,552 ) (17,439 ) Expiration and abandonment rate +10 % (1,562 ) (1,972 ) (1,726 ) (2,495 ) Mortality/morbidity rate -10 % 25,277 18,034 24,135 18,787 Longevity -10 % 77,609 77,609 76,554 76,554 Expenses -10 % 20,591 20,544 17,551 17,504 Expiration and abandonment rate -10 % 1,944 2,375 1,837 1,524 |
Summary of the Maturity Profile of the Portfolios of Insurance and Reinsurance Contracts | The following table summarizes the maturity profile of the portfolios of insurance contracts issued and the portfolios of reinsurance contracts held that are liabilities of the Group, based on the estimations of the present value of the future cash flows that are expected to be paid in the following periods: 2023 Less than 1 year From 1 to 2 From 2 to From 3 to 4 From 4 to 5 More than 5 Total S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Life insurance contractual liabilities 849,238 660,864 717,179 751,224 781,239 20,348,966 24,108,710 Life reinsurance contractual liabilities (27,849 ) (577 ) (589 ) (608 ) (626 ) (38,029 ) (68,278 ) Other liabilities 78,253 83,650 118,419 134,337 141,352 858,734 1,414,745 Total 899,642 743,937 835,009 884,953 921,965 21,169,671 25,455,177 2022 Less than 1 year From 1 to 2 From 2 to 3 From 3 to 4 From 4 to 5 More than 5 Total S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Life insurance contractual liabilities 874,518 683,879 727,831 772,743 794,191 19,943,775 23,796,937 Life reinsurance contractual liabilities (33,911 ) (336 ) (347 ) (359 ) (373 ) (19,305 ) (54,631 ) Other liabilities 57,085 74,489 81,473 106,116 129,276 810,573 1,259,012 Total 897,692 758,032 808,957 878,500 923,094 20,735,043 25,001,318 |
Summary of financial assets (based on non-discounted contractual cash flows) | The following table summarizes the maturity profile of the Group’s financial assets in function of the non-discounted contractual cash flows, including interest receivable. 2023 Less than 1 year From 1 to 2 From 2 to 3 From 3 to 4 From 4 to 5 More than 5 Total S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Financial assets Cash and cash equivalents — — — — — — — Investments at fair value through profit or loss 97 97 97 97 97 2,888 3,373 Debt instruments at fair value through other comprehensive income 1,020,609 969,034 991,445 1,079,552 1,064,316 18,247,679 23,372,635 Investments at amortized cost — — — — — 27,201 27,201 Total 1,020,706 969,131 991,542 1,079,649 1,064,413 18,277,768 23,403,209 2022 Less than 1 year From 1 to 2 From 2 to 3 From 3 to 4 From 4 to 5 More than 5 Total S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Financial assets Cash and cash equivalents — — — — — — — Investments at fair value through profit or loss 99 99 99 99 99 3,070 3,565 Debt instruments at fair value through other comprehensive income 896,760 940,922 887,257 899,474 982,379 18,010,752 22,617,544 Investments at amortized cost — — — — — — — Total 896,859 941,021 887,356 899,573 982,478 18,013,822 22,621,109 |
Summary of financial assets and the insurance contracts assets and liabilities of the Company by main currency | The following table summarizes the financial assets and the insurance contracts assets and liabilities of the Company by main currency: 2023 2022 US Dollar Sol Total US Dollar Sol Total S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Financial assets Cash and cash equivalents 48,899 217,411 266,310 419,481 211,676 631,157 Investments at fair value through profit or loss 300,007 7,029 307,036 247,998 11,424 259,422 Debt instruments at fair value through other comprehensive income 4,159,311 8,286,854 12,446,165 3,792,194 7,243,452 11,035,646 Investments at amortized cost — 23,584 23,584 — — — Insurance contracts assets- Life insurance issued — — — — — — Life reinsurance held 166 26,121 26,287 1,032 33,019 34,051 Reinsurance held — — — — — — Insurance contracts liabilities- Life insurance issued 3,997,075 8,208,566 12,205,641 4,240,359 6,987,486 11,227,845 Life reinsurance held — 1,895 1,895 — 3,476 3,476 Reinsurance held — — — — — — |
Summary of group's exposure to insurance and reinsurance contracts sensitive to interest rate risk and debt instruments | The Group’s exposure to insurance and reinsurance contracts sensitive to interest rate risk and debt instruments is the following: 2023 2022 S/(000) S/(000) Insurance contracts assets - Life insurance issued — — Life reinsurance held 26,287 34,051 Reinsurance held — — Insurance contracts liabilities - Life insurance issued 12,205,641 11,227,845 Life reinsurance held 1,895 3,476 Reinsurance held — — Debt instruments at fair value through profit or loss 307,036 259,422 Debt instruments at fair value through other comprehensive income 12,446,165 11,035,646 Debt instruments at amortized cost 23,584 — Total 25,010,608 22,560,440 |
Summary of the sensitivity analysis of fair value measurement | The following analysis is made for the reasonably possible movements of the key variables, the rest of the variables remaining constant, showing the impact on income before taxes and equity. The correlation of the variables will have a significant effect on the determination of the final impact of the interest rate risk, but to demonstrate the impact due to changes in variables, the variables had to be changed individually. It is worth noting that the movements of these variables are non-linear. The method used to obtain information of the sensitivity and the significant variables did not vary regarding the previous period. 2023 2022 Change in basis Impact on income Impact on equity Impact on income Impact on equity S/(000) S/(000) S/(000) S/(000) Insurance and reinsurance contracts +100 16,542 1,075,830 15,554 921,286 Debt instruments +100 (100 ) (906,268 ) (107 ) (796,455 ) Insurance and reinsurance contracts -100 (20,226 ) (1,293,888 ) (18,703 ) (1,096,629 ) Debt instruments -100 115 1,048,722 124 924,796 |
Fair value (Tables)
Fair value (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Text Block [Abstract] | |
Summary Of Fair Value Measurement Of Assets And Liabilities | The following table presents an analysis of the financial instruments that are measured at their fair value, including the level of hierarchy of fair value. The amounts are based on the balances presented in the consolidated statement of financial position: As of December 31, 2023 Level 1 Level 2 Level 3 Total S/(000) S/(000) S/(000) S/(000) Financial assets Financial investments At fair value through profit or loss (*) 329,609 344,155 882,776 1,556,540 Debt instruments measured at fair value through other comprehensive income 11,779,535 9,132,649 — 20,912,184 Equity instruments measured at fair value through other comprehensive income 397,247 10,541 37,090 444,878 Derivatives receivable — 158,101 — 158,101 12,506,391 9,645,446 919,866 23,071,703 Accrued interest 334,385 Total financial assets 23,406,088 Financial liabilities Derivatives payable — 145,395 — 145,395 As of December 31, 2022 Level 1 Level 2 Level 3 Total S/(000) S/(000) S/(000) S/(000) Financial assets Financial investments At fair value through profit or loss (*) 428,739 564,559 939,695 1,932,993 Debt instruments measured at fair value through other comprehensive income 9,946,427 6,770,090 — 16,716,517 Equity instruments measured at fair value through other comprehensive income 464,556 10,188 38,140 512,884 Derivatives receivable — 515,800 — 515,800 10,839,722 7,860,637 977,835 19,678,194 Accrued interest 322,425 Total financial assets 20,000,619 Financial liabilities Derivatives payable — 297,038 — 297,038 (*) As of December 31, 2023 and 2022, correspond mainly to participations in mutual funds and investment funds. |
Summary of significant unobservable inputs used in fair value measurement of assets | The table below presents a description of significant unobservable data used in valuation: Valuation technique Significant Valuation Sensitivity of inputs to fair value 2023 2022 Private Equity Stocks Net asset value NAV Depends on each investment Depends on each investment 10 percent increase (decrease) in the NAVs would result in increase (decrease) in fair value by S/7,678,000 as of December 31, 2023 and S/7,022,000 as of December 31, 2022. Private equity funds Net asset value NAV Depends on each investment Depends on each investment 10 percent increase (decrease) in the NAVs would result in increase (decrease) in fair value by S/80,597,000 as of December 31, 2023 and S/86,944,000 as of December 31, 2022. Listed shares Equity method - According to price risk According to price risk 5 percent increase (decrease) of the price would result in increase in fair value of S/1,854,000 as of December 31, 2023 and S/1,907,000 as of December 31, 2022. |
Summary of fair value measurement of assets | The table below includes a reconciliation of fair value measurement of financial instruments classified by the Group within Level 3 of the valuation hierarchy: 2023 2022 S/(000) S/(000) Initial balance as of January 1 977,835 1,133,763 Purchases 85,777 180,344 Sales (35,625 ) (280,297 ) Loss recognized on the consolidated statement of income (108,121 ) (55,975 ) Balance as of December 31 919,866 977,835 |
Summary of fair value measurement of assets and liabilities levels of hierarchy | The table below presents the disclosure of the comparison between the carrying amounts and fair values of the Group’s financial instruments that are not measured at their fair value, presented by level of fair value hierarchy: As of December 31, 2023 As of December 31, 2022 Level 1 Level 2 Level 3 Fair value Book value Level 1 Level 2 Level 3 Fair value Book value S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) S/(000) Assets Cash and due from banks — 9,818,711 — 9,818,711 9,818,711 — 13,193,411 — 13,193,411 13,193,411 Inter-bank funds — 524,915 — 524,915 524,915 — 296,119 — 296,119 296,119 Investments at amortized cost 3,277,672 80,042 — 3,357,714 3,474,004 2,949,507 — — 2,949,507 3,302,779 Loans, net — 44,737,995 — 44,737,995 46,520,382 — 42,932,260 — 42,932,260 45,502,998 Due from customers on acceptances — 40,565 — 40,565 40,565 — 45,809 — 45,809 45,809 Other accounts receivable and other assets, net — 1,246,480 — 1,246,480 1,246,480 — 919,767 — 919,767 919,767 Reinsurance contract assets — 26,287 — 26,287 26,287 — 34,053 — 34,053 34,053 Total 3,277,672 56,474,995 — 59,752,667 61,651,344 2,949,507 57,421,419 — 60,370,926 63,294,936 Liabilities Deposits and obligations — 49,394,868 — 49,394,868 49,188,234 — 48,464,095 — 48,464,095 48,530,708 Inter-bank funds — 119,712 — 119,712 119,712 — 30,012 — 30,012 30,012 Due to banks and correspondents — 9,028,209 — 9,028,209 9,025,930 — 6,859,664 — 6,859,664 7,100,646 Bonds, notes and other obligations 4,587,631 708,643 — 5,296,274 5,551,629 6,447,282 990,545 — 7,437,827 7,906,303 Due from customers on acceptances — 40,565 — 40,565 40,565 — 45,809 — 45,809 45,809 Insurance and reinsurance contract liabilities — 12,207,536 — 12,207,536 12,207,536 — 11,231,321 — 11,231,321 11,231,321 Other accounts payable and other liabilities — 3,056,196 — 3,056,196 3,056,196 — 2,533,292 — 2,533,292 2,533,292 Total 4,587,631 74,555,729 — 79,143,360 79,189,802 6,447,282 70,154,738 — 76,602,020 77,378,091 |
Fiduciary activities and mana_2
Fiduciary activities and management of funds (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Text Block [Abstract] | |
Summary of managed off-balance sheet financial assets | As of December 31, 2023 and 2022, the value of the managed off-balance sheet financial assets is as follows: 2023 2022 S/(000) S/(000) Investment funds 17,829,262 16,821,566 Mutual funds 5,352,241 4,495,832 Total 23,181,503 21,317,398 |
Business activity, current co_3
Business activity, current context and acquisition of Subsidiaries - Additional information (Detail) | 1 Months Ended | 12 Months Ended | ||||
Sep. 30, 2022 PEN (S/) | Apr. 30, 2022 USD ($) | Dec. 31, 2023 | Dec. 31, 2022 PEN (S/) | Apr. 30, 2022 PEN (S/) | Mar. 31, 2022 PEN (S/) | |
Business activity, current context and acquisition of Subsidiaries [Line Items] | ||||||
Outstanding Capital Stock Percentage | 71.20% | 70.64% | ||||
Banco Internacional del Per SAA [Member] | ||||||
Business activity, current context and acquisition of Subsidiaries [Line Items] | ||||||
Percentage of capital stock owned | 99.30% | 99.30% | ||||
Interseguro Compaa de Seguros SA [Member] | ||||||
Business activity, current context and acquisition of Subsidiaries [Line Items] | ||||||
Percentage of capital stock owned | 99.84% | 99.84% | ||||
Inteligo Group Corp [Member] | ||||||
Business activity, current context and acquisition of Subsidiaries [Line Items] | ||||||
Percentage of capital stock owned | 100% | 100% | ||||
Izipay [Member] | ||||||
Business activity, current context and acquisition of Subsidiaries [Line Items] | ||||||
Percentage of capital stock owned | 100% | |||||
Percentage of voting equity interests acquired | 50% | 50% | 50% | |||
Cash transferred | $ 83,775,000 | S/ 312,647,000 | S/ 312,647,000 | |||
Fair value adjustment on the participation held in subsidiaries | S/ 222,513,000 | |||||
Acquisiton related cost recognized as expense | S/ 381,000 | |||||
Revenue of acquiree | S/ 595,360,000 | |||||
Profit (loss) of acquiree | 41,075,000 | |||||
Revenue of combined entity as if combination occurred at beginning of period | 754,284,000 | |||||
Profit (loss) of combined entity as if combination occurred at beginning of period | S/ 51,182,000 | |||||
Intercorp Per Ltd [Member] | ||||||
Business activity, current context and acquisition of Subsidiaries [Line Items] | ||||||
Issued capital stock, Percentage | 71.44% | 70.65% |
Business activity, current co_4
Business activity, current context and acquisition of Subsidiaries - Summary of fair value of the assets and liabilities of the acquired entities (Detail) - Izipay [Member] S/ in Thousands | Mar. 31, 2022 PEN (S/) |
Assets | |
Cash | S/ 119,432 |
Trade accounts receivable and other receivables | 178,982 |
Inventory | 13,600 |
Deferred assets | 102,687 |
Property, furniture and equipment, Note 8(a) | 83,486 |
Right-of-use assets, Note 8(a) | 6,593 |
Intangibles, Note 9(a) | 331,421 |
Deferred income tax asset | 11,014 |
Other assets | 3,903 |
Liabilities | |
Financial obligations | 26,251 |
Trade accounts payable and other payables | 319,456 |
Deferred income | 25,190 |
Lease liability | 6,593 |
Other liabilities | 223 |
Deferred income tax liability, Note 15(a) | 86,541 |
Total identifiable net assets at fair value | 386,864 |
Goodwill, Note 9(a) | 238,429 |
Fair value of acquired entities | S/ 625,293 |
Business activity, current co_5
Business activity, current context and acquisition of Subsidiaries - Summary of net cash flow incurred in acquisition (Detail) - Izipay [Member] | Apr. 30, 2022 USD ($) | Apr. 30, 2022 PEN (S/) | Mar. 31, 2022 PEN (S/) |
Disclosure of detailed information about business combination [line items] | |||
Total price paid | $ 83,775,000 | S/ 312,647,000 | S/ 312,647,000 |
Cash of acquired companies | (119,432,000) | ||
Consideration transferred, acquisition-date fair value | S/ 193,215,000 |
Subsidiaries - Summary of conso
Subsidiaries - Summary of consolidated financial statements of subsidiaries (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | ||||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Jan. 01, 2022 | Dec. 31, 2020 | |
Consolidated statement of financial position - | |||||
Cash and due from banks | S/ 7,464,607 | S/ 9,783,777 | |||
Financial Investments | 26,721,991 | 22,787,598 | S/ 24,547,294 | ||
Loans, net | 46,520,382 | 45,502,998 | 43,005,583 | ||
Investment property | 1,298,892 | 1,287,717 | S/ 1,224,454 | 1,224,454 | S/ 1,043,978 |
Total assets | 89,624,779 | 87,482,089 | 89,954,787 | ||
Deposits and obligations | 49,188,234 | 48,530,708 | 48,897,944 | ||
Due to banks and correspondents | 9,025,930 | 7,100,646 | 8,522,849 | ||
Bonds, notes and other obligations | 5,551,629 | 7,906,303 | 8,389,672 | ||
Insurance contract liabilities | 7,260 | 5,648 | |||
Total liabilities | 79,616,678 | 78,055,862 | 81,219,959 | ||
Equity attributable to IFS's shareholders | 10,008,101 | 9,426,227 | 8,734,828 | S/ 8,734,828 | S/ 8,953,949 |
Consolidated statement of income - | |||||
Net interest and similar income | 4,528,045 | 4,209,613 | 3,547,688 | ||
(Loss) recovery due to impairment on loans, net of recoveries | (1,981,818) | (830,551) | (381,577) | ||
Recovery (loss) due to impairment of financial investments | (7,500) | (12,752) | 30,898 | ||
Fee income from financial services, net | 1,178,462 | 1,137,386 | 823,808 | ||
Result from insurance activities, before expenses | (178,392) | (252,854) | |||
Net profit (loss) for the year attributable to IFS's shareholders | 1,079,276 | 1,678,114 | S/ 1,800,179 | ||
Interbank and Subsidiaries [Member] | |||||
Consolidated statement of financial position - | |||||
Cash and due from banks | 8,598,513 | 11,052,299 | |||
Financial Investments | 11,964,232 | 9,586,343 | |||
Loans, net | 45,004,811 | 43,725,346 | |||
Investment property | |||||
Total assets | 68,437,614 | 66,977,277 | |||
Deposits and obligations | 46,053,607 | 44,597,855 | |||
Due to banks and correspondents | 8,669,331 | 6,726,595 | |||
Bonds, notes and other obligations | 4,253,188 | 6,571,539 | |||
Insurance contract liabilities | |||||
Total liabilities | 60,380,895 | 59,498,433 | |||
Equity attributable to IFS's shareholders | 8,056,719 | 7,478,844 | |||
Consolidated statement of income - | |||||
Net interest and similar income | 3,712,220 | 3,297,436 | |||
(Loss) recovery due to impairment on loans, net of recoveries | (1,981,988) | (832,919) | |||
Recovery (loss) due to impairment of financial investments | 15 | (732) | |||
Net gain of investment property | |||||
Fee income from financial services, net | 813,279 | 797,711 | |||
Result from insurance activities, before expenses | |||||
Net profit (loss) for the year attributable to IFS's shareholders | 856,149 | 1,374,121 | |||
Interseguro [Member] | |||||
Consolidated statement of financial position - | |||||
Cash and due from banks | 266,311 | 631,156 | |||
Financial Investments | 12,776,783 | 11,295,068 | |||
Loans, net | |||||
Investment property | 1,298,892 | 1,287,717 | |||
Total assets | 14,741,746 | 13,636,383 | |||
Deposits and obligations | |||||
Due to banks and correspondents | 215,560 | 308,164 | |||
Bonds, notes and other obligations | 244,599 | 251,524 | |||
Insurance contract liabilities | 12,068,741 | 11,092,526 | |||
Total liabilities | 13,709,303 | 12,665,533 | |||
Equity attributable to IFS's shareholders | 1,032,443 | 970,850 | |||
Consolidated statement of income - | |||||
Net interest and similar income | 778,649 | 861,964 | |||
(Loss) recovery due to impairment on loans, net of recoveries | |||||
Recovery (loss) due to impairment of financial investments | (7,858) | (26) | |||
Net gain of investment property | 7,111 | 19,146 | |||
Fee income from financial services, net | (13,431) | (7,160) | |||
Result from insurance activities, before expenses | (178,379) | (252,854) | |||
Net profit (loss) for the year attributable to IFS's shareholders | 359,550 | 320,457 | |||
Inteligo and Subsidiaries [Member] | |||||
Consolidated statement of financial position - | |||||
Cash and due from banks | 844,965 | 1,457,446 | |||
Financial Investments | 1,855,074 | 1,698,229 | |||
Loans, net | 1,519,659 | 1,784,343 | |||
Investment property | |||||
Total assets | 4,374,266 | 5,102,598 | |||
Deposits and obligations | 3,311,719 | 4,098,842 | |||
Due to banks and correspondents | 84,004 | 53,937 | |||
Bonds, notes and other obligations | |||||
Insurance contract liabilities | |||||
Total liabilities | 3,453,408 | 4,208,369 | |||
Equity attributable to IFS's shareholders | 920,858 | 894,229 | |||
Consolidated statement of income - | |||||
Net interest and similar income | 85,556 | 104,810 | |||
(Loss) recovery due to impairment on loans, net of recoveries | 170 | 2,368 | |||
Recovery (loss) due to impairment of financial investments | 347 | (11,981) | |||
Net gain of investment property | |||||
Fee income from financial services, net | 146,223 | 163,325 | |||
Result from insurance activities, before expenses | |||||
Net profit (loss) for the year attributable to IFS's shareholders | 36,180 | (141,395) | |||
Izipay [Member] | |||||
Consolidated statement of financial position - | |||||
Cash and due from banks | 130,149 | 111,087 | |||
Financial Investments | 56,459 | ||||
Loans, net | |||||
Investment property | |||||
Total assets | 1,196,049 | 902,610 | |||
Deposits and obligations | |||||
Due to banks and correspondents | 61,024 | 18,584 | |||
Bonds, notes and other obligations | |||||
Insurance contract liabilities | |||||
Total liabilities | 946,660 | 686,292 | |||
Equity attributable to IFS's shareholders | 249,389 | 216,318 | |||
Consolidated statement of income - | |||||
Net interest and similar income | 4,348 | 300 | |||
(Loss) recovery due to impairment on loans, net of recoveries | |||||
Recovery (loss) due to impairment of financial investments | |||||
Net gain of investment property | |||||
Fee income from financial services, net | 345,583 | 258,728 | |||
Result from insurance activities, before expenses | |||||
Net profit (loss) for the year attributable to IFS's shareholders | S/ 33,069 | S/ 41,074 |
Subsidiaries - Additional infor
Subsidiaries - Additional information (Detail) | 12 Months Ended | ||||
Dec. 31, 2023 PEN (S/) offices | Dec. 31, 2022 PEN (S/) offices | Jan. 01, 2022 PEN (S/) | Dec. 31, 2021 PEN (S/) | Dec. 31, 2020 PEN (S/) | |
Disclosure of subsidiaries [line items] | |||||
Number of offices held | offices | 153 | 164 | |||
Fair values of properties contributed | S/ 1,298,892,000 | S/ 1,287,717,000 | S/ 1,224,454,000 | S/ 1,224,454,000 | S/ 1,043,978,000 |
Interseguro Compaa de Seguros SA and Subsidiaries [Member] | |||||
Disclosure of subsidiaries [line items] | |||||
Fair values of properties contributed | S/ 85,272,000 | S/ 93,994,000 | |||
Interseguro Compaa de Seguros SA and Subsidiaries [Member] | Negocios e Inmuebles SA and Holding Retail Per SA [Member] | |||||
Disclosure of subsidiaries [line items] | |||||
Percentage of ownership interest in subsidiary | 8.50% | 8.50% | |||
Interfondos SA Fund Management Company [Member] | |||||
Disclosure of subsidiaries [line items] | |||||
Percentage of ownership interest in subsidiary | 99.99% | 99.99% |
Significant accounting polici_4
Significant accounting policies - Additional information (Detail) - PEN (S/) | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of Significant accounting policies [Line Items] | |||
Transfer From Property Furniture and Equipment to Investment property | S/ 3,984,000 | S/ 9,357,000 | S/ 1,615,000 |
Transfer From Investment property to Property Furniture and Equipment | S/ 16,177,000 | ||
Bottom of range [member] | |||
Disclosure of Significant accounting policies [Line Items] | |||
Intangible asset, amortization period | 4 years | ||
Top of range [member] | |||
Disclosure of Significant accounting policies [Line Items] | |||
Intangible asset, amortization period | 5 years |
Significant accounting polici_5
Significant accounting policies - Summary of expected credit loss models relies on macroeconomic variables (Detail) | Dec. 31, 2023 | Dec. 31, 2022 |
GDP Growth [Member] | ||
Disclosure of Expected Credit Loss Models Relies on Macroeconomic Variables [Line Items] | ||
Expected credit loss rate | ||
Private Formal Employment [Member] | ||
Disclosure of Expected Credit Loss Models Relies on Macroeconomic Variables [Line Items] | ||
Expected credit loss rate | ||
Gross Capital Formation [Member] | ||
Disclosure of Expected Credit Loss Models Relies on Macroeconomic Variables [Line Items] | ||
Expected credit loss rate | ||
Consumer [Member] | ||
Disclosure of Expected Credit Loss Models Relies on Macroeconomic Variables [Line Items] | ||
Expected credit loss rate | ||
Real Domestic Demand [Member] | ||
Disclosure of Expected Credit Loss Models Relies on Macroeconomic Variables [Line Items] | ||
Expected credit loss rate | ||
Real Formal Salary [Member] | ||
Disclosure of Expected Credit Loss Models Relies on Macroeconomic Variables [Line Items] | ||
Expected credit loss rate | ||
Real Informal Salary [Member] | ||
Disclosure of Expected Credit Loss Models Relies on Macroeconomic Variables [Line Items] | ||
Expected credit loss rate | ||
Real Disposable Income Per Capita [Member] | ||
Disclosure of Expected Credit Loss Models Relies on Macroeconomic Variables [Line Items] | ||
Expected credit loss rate |
Significant accounting polici_6
Significant accounting policies - Summary of estimated useful lives (Detail) | 12 Months Ended |
Dec. 31, 2023 | |
Buildings [member] | Bottom of range [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Useful life measured as period of time, property, plant and equipment | 40 years |
Buildings [member] | Top of range [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Useful life measured as period of time, property, plant and equipment | 75 years |
Leasehold improvements [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Useful life measured as period of time, property, plant and equipment | 5 years |
Furniture and equipment [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Useful life measured as period of time, property, plant and equipment | 10 years |
Vehicles [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Useful life measured as period of time, property, plant and equipment | 5 years |
Significant accounting polici_7
Significant accounting policies - Summary of the Impact of the Adoption of IFRS 17 (Detail) - PEN (S/) S/ / shares in Units, S/ in Thousands | 12 Months Ended | ||||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Jan. 01, 2022 | Dec. 31, 2020 | |
Assets | |||||
Cash and due from banks | S/ 7,464,607 | S/ 9,783,777 | |||
Financial investments | 26,721,991 | 22,787,598 | S/ 24,547,294 | ||
Loans, net | 46,520,382 | 45,502,998 | 43,005,583 | ||
Intangibles and goodwill, net | 1,687,120 | 1,633,202 | 1,044,749 | ||
Other accounts receivable and other assets, net | 2,125,148 | 1,743,963 | 1,834,483 | ||
Reinsurance contract assets | 26,287 | 34,053 | 53,849 | ||
Total assets | 89,624,779 | 87,482,089 | 89,954,787 | ||
Liability | |||||
Deposits and obligations | 49,188,234 | 48,530,708 | 48,897,944 | ||
Due to banks and correspondents | 9,025,930 | 7,100,646 | 8,522,849 | ||
Bonds, notes and other obligations | 5,551,629 | 7,906,303 | 8,389,672 | ||
Insurance and reinsurance contract liabilities | 12,207,536 | 11,231,321 | 12,788,829 | ||
Other accounts payable, provisions and other liabilities | 3,407,360 | 3,129,164 | 2,468,242 | ||
Total liabilities | 79,616,678 | 78,055,862 | 81,219,959 | ||
Equity attributable to IFS's shareholders: | |||||
Unrealized results, net | (457,793) | (554,421) | S/ (168,300) | (302,477) | S/ 836,773 |
Retained earnings | 2,921,531 | 2,359,464 | 2,219,902 | ||
Equity attributable to owners of parent | 9,950,217 | 9,372,468 | 8,684,850 | ||
Non-controlling interest | 57,884 | 53,759 | 49,978 | ||
Total equity | 10,008,101 | 9,426,227 | 8,734,828 | 8,734,828 | S/ 8,953,949 |
Total liabilities and equity | 89,624,779 | 87,482,089 | 89,954,787 | ||
Interest and similar income | 7,120,411 | 5,871,302 | 4,605,625 | ||
Interest and similar expenses | (2,592,366) | (1,661,689) | (1,057,937) | ||
Net interest and similar income | 4,528,045 | 4,209,613 | 3,547,688 | ||
Impairment loss on loans, net of recoveries and financial investments | (1,981,818) | (830,551) | (381,577) | ||
Net interest and similar income after impairment loss | 2,538,727 | 3,366,310 | 3,197,009 | ||
Total other income | 1,736,277 | 1,679,811 | 1,729,450 | ||
Insurance premiums and claims | |||||
Insurance expense | (272,079) | ||||
Result from insurance activities | (178,392) | (252,854) | (272,079) | ||
Operating expense | (2,750,167) | (2,627,138) | (2,262,769) | ||
Income before translation result and Income Tax | 1,346,445 | 2,166,129 | 2,391,611 | ||
Exchange difference | 8,427 | (25,478) | (89,320) | ||
Income Tax | 275,596 | 462,537 | 502,112 | ||
Net profit for the year | 1,079,276 | 1,678,114 | 1,800,179 | ||
Attributable to: | |||||
IFS's shareholders | 1,072,728 | 1,668,026 | 1,790,155 | ||
Non-controlling interest | 6,548 | 10,088 | 10,024 | ||
Net profit for the year | S/ 1,079,276 | S/ 1,678,114 | S/ 1,800,179 | ||
Earnings per share attributable to IFS's shareholders, basic (stated in Soles) | S/ 9.327 | S/ 14.452 | S/ 15.51 | ||
Earnings per share attributable to IFS's shareholders, diluted (stated in Soles) | S/ 9.327 | S/ 14.452 | S/ 15.51 | ||
Weighted average number of outstanding shares (in thousands) | 115,012,000 | 115,418,000 | 115,419,000 | ||
Increase Decrease Due to Changes in Adoption of Accounting Policy Ifrs 17 [Member] | |||||
Assets | |||||
Other accounts receivable and other assets, net | S/ (34,596) | (52,971) | |||
Reinsurance contract assets | 34,053 | 53,849 | |||
Total assets | (543) | 878 | |||
Liability | |||||
Insurance and reinsurance contract liabilities | 628,949 | 830,771 | |||
Other accounts payable, provisions and other liabilities | (9,768) | (9,359) | |||
Total liabilities | 619,181 | 821,412 | |||
Equity attributable to IFS's shareholders: | |||||
Unrealized results, net | 58,859 | (134,177) | |||
Retained earnings | (677,566) | (685,010) | |||
Equity attributable to owners of parent | (618,707) | (819,187) | |||
Non-controlling interest | (1,017) | (1,347) | |||
Total equity | (619,724) | (820,534) | |||
Total liabilities and equity | (543) | 878 | |||
Interest and similar expenses | 409 | ||||
Net interest and similar income | 409 | ||||
Net interest and similar income after impairment loss | 409 | ||||
Total other income | (21) | ||||
Insurance premiums and claims | |||||
Net premiums earned | (668,197) | ||||
Net claims and benefits incurred for life insurance contracts and others | 859,991 | ||||
Insurance expense | 191,794 | ||||
Result from insurance activities | (252,854) | ||||
Operating expense | 56,771 | ||||
Income before translation result and Income Tax | (3,901) | ||||
Exchange difference | 11,358 | ||||
Net profit for the year | 7,457 | ||||
Attributable to: | |||||
IFS's shareholders | 7,445 | ||||
Non-controlling interest | 12 | ||||
Net profit for the year | 7,457 | ||||
IFRS 4 [Member] | |||||
Assets | |||||
Cash and due from banks | 13,193,411 | 17,104,465 | |||
Financial investments | 22,787,598 | 24,547,294 | |||
Loans, net | 45,502,998 | 43,005,583 | |||
Intangibles and goodwill, net | 1,633,202 | 1,044,749 | |||
Other accounts receivable and other assets, net | 1,778,559 | 1,887,454 | |||
Other assets | 2,586,864 | 2,364,364 | |||
Total assets | 87,482,632 | 89,953,909 | |||
Liability | |||||
Deposits and obligations | 48,530,708 | 48,897,944 | |||
Due to banks and correspondents | 7,100,646 | 8,522,849 | |||
Bonds, notes and other obligations | 7,906,303 | 8,389,672 | |||
Insurance and reinsurance contract liabilities | 10,602,372 | 11,958,058 | |||
Other accounts payable, provisions and other liabilities | 3,138,932 | 2,477,601 | |||
Other liabilities | 157,720 | 152,423 | |||
Total liabilities | 77,436,681 | 80,398,547 | |||
Equity attributable to IFS's shareholders: | |||||
Capital stock, net of treasury stock | 1,034,654 | 1,034,654 | |||
Capital surplus and reserves | 6,532,771 | 5,732,771 | |||
Unrealized results, net | (613,280) | (168,300) | |||
Retained earnings | 3,037,030 | 2,904,912 | |||
Equity attributable to owners of parent | 9,991,175 | 9,504,037 | |||
Non-controlling interest | 54,776 | 51,325 | |||
Total equity | 10,045,951 | 9,555,362 | |||
Total liabilities and equity | 87,482,632 | 89,953,909 | |||
Interest and similar income | 5,871,302 | ||||
Interest and similar expenses | (1,662,098) | ||||
Net interest and similar income | 4,209,204 | ||||
Impairment loss on loans, net of recoveries and financial investments | (843,303) | ||||
Net interest and similar income after impairment loss | 3,365,901 | ||||
Total other income | 1,679,832 | ||||
Insurance premiums and claims | |||||
Net premiums earned | 668,197 | ||||
Net claims and benefits incurred for life insurance contracts and others | (859,991) | ||||
Insurance expense | (191,794) | ||||
Operating expense | (2,683,909) | ||||
Income before translation result and Income Tax | 2,170,030 | ||||
Exchange difference | (36,836) | ||||
Income Tax | (462,537) | ||||
Net profit for the year | 1,670,657 | ||||
Attributable to: | |||||
IFS's shareholders | 1,660,581 | ||||
Non-controlling interest | 10,076 | ||||
Net profit for the year | S/ 1,670,657 | ||||
Earnings per share attributable to IFS's shareholders, basic (stated in Soles) | S/ 14.388 | ||||
Earnings per share attributable to IFS's shareholders, diluted (stated in Soles) | S/ 14.388 | ||||
Weighted average number of outstanding shares (in thousands) | 115,418 | ||||
IFRS 17 [member] | |||||
Assets | |||||
Cash and due from banks | S/ 13,193,411 | 17,104,465 | |||
Financial investments | 22,787,598 | 24,547,294 | |||
Loans, net | 45,502,998 | 43,005,583 | |||
Intangibles and goodwill, net | 1,633,202 | 1,044,749 | |||
Other accounts receivable and other assets, net | 1,743,963 | 1,834,483 | |||
Reinsurance contract assets | 34,053 | 53,849 | |||
Other assets | 2,586,864 | 2,364,364 | |||
Total assets | 87,482,089 | 89,954,787 | |||
Liability | |||||
Deposits and obligations | 48,530,708 | 48,897,944 | |||
Due to banks and correspondents | 7,100,646 | 8,522,849 | |||
Bonds, notes and other obligations | 7,906,303 | 8,389,672 | |||
Insurance and reinsurance contract liabilities | 11,231,321 | 12,788,829 | |||
Other accounts payable, provisions and other liabilities | 3,129,164 | 2,468,242 | |||
Other liabilities | 157,720 | 152,423 | |||
Total liabilities | 78,055,862 | 81,219,959 | |||
Equity attributable to IFS's shareholders: | |||||
Capital stock, net of treasury stock | 1,034,654 | 1,034,654 | |||
Capital surplus and reserves | 6,532,771 | 5,732,771 | |||
Unrealized results, net | (554,421) | (302,477) | |||
Retained earnings | 2,359,464 | 2,219,902 | |||
Equity attributable to owners of parent | 9,372,468 | 8,684,850 | |||
Non-controlling interest | 53,759 | 49,978 | |||
Total equity | 9,426,227 | 8,734,828 | |||
Total liabilities and equity | 87,482,089 | S/ 89,954,787 | |||
Interest and similar income | 5,871,302 | ||||
Interest and similar expenses | (1,661,689) | ||||
Net interest and similar income | 4,209,613 | ||||
Impairment loss on loans, net of recoveries and financial investments | (843,303) | ||||
Net interest and similar income after impairment loss | 3,366,310 | ||||
Total other income | 1,679,811 | ||||
Insurance premiums and claims | |||||
Result from insurance activities | (252,854) | ||||
Operating expense | (2,627,138) | ||||
Income before translation result and Income Tax | 2,166,129 | ||||
Exchange difference | (25,478) | ||||
Income Tax | (462,537) | ||||
Net profit for the year | 1,678,114 | ||||
Attributable to: | |||||
IFS's shareholders | 1,668,026 | ||||
Non-controlling interest | 10,088 | ||||
Net profit for the year | S/ 1,678,114 | ||||
Earnings per share attributable to IFS's shareholders, basic (stated in Soles) | S/ 14.452 | ||||
Earnings per share attributable to IFS's shareholders, diluted (stated in Soles) | S/ 14.452 | ||||
Weighted average number of outstanding shares (in thousands) | 115,418 |
Cash and due from banks and i_3
Cash and due from banks and inter-bank funds - Summary of cash and due from banks (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 | Jan. 01, 2022 |
Cash and cash equivalents [abstract] | |||
Cash and clearing | S/ 2,248,845 | S/ 2,865,251 | |
Deposits in the BCRP | 5,215,762 | 6,918,526 | |
Deposits in banks | 1,609,604 | 2,923,999 | |
Total cash and cash equivalent | 9,074,211 | 12,707,776 | |
Accrued interest | 23,809 | 17,391 | |
Restricted funds | 720,691 | 468,244 | S/ 684,804 |
Total | S/ 9,818,711 | S/ 13,193,411 |
Cash and due from banks and i_4
Cash and due from banks and inter-bank funds - Summary of legal reserve (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Cash and cash equivalents [Line Items] | ||
Legal reserve | S/ 6,599,352 | S/ 8,775,003 |
Non-mandatory reserve | 865,199 | 1,008,703 |
Cash balances not subject to legal reserve | 56 | 71 |
Total | 7,464,607 | 9,783,777 |
Deposits in the BCRP [member] | ||
Cash and cash equivalents [Line Items] | ||
Legal reserve | 4,593,592 | 6,055,726 |
Cash in vaults {member] | ||
Cash and cash equivalents [Line Items] | ||
Legal reserve | 2,005,760 | 2,719,277 |
Overnight deposits in BCRP [member] | ||
Cash and cash equivalents [Line Items] | ||
Non-mandatory reserve | 622,170 | 762,800 |
Cash and clearing [member] | ||
Cash and cash equivalents [Line Items] | ||
Non-mandatory reserve | 243,029 | 145,903 |
Term deposits in BCRP [Member] | ||
Cash and cash equivalents [Line Items] | ||
Non-mandatory reserve | S/ 0 | S/ 100,000 |
Cash and due from banks and i_5
Cash and due from banks and inter-bank funds - Summary of restricted fund (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 | Jan. 01, 2022 |
Cash and cash equivalents [abstract] | |||
Inter-bank transfers | S/ 694,118 | S/ 431,052 | |
Derivative financial instruments | 24,725 | 34,784 | |
Others | 1,848 | 2,408 | |
Total | S/ 720,691 | S/ 468,244 | S/ 684,804 |
Cash and due from banks and i_6
Cash and due from banks and inter-bank funds - Additional information (Detail) S/ in Thousands, $ in Thousands | 12 Months Ended | |||||
Dec. 31, 2023 PEN (S/) | Dec. 31, 2022 PEN (S/) | Dec. 31, 2021 PEN (S/) | Jan. 31, 2024 PEN (S/) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) | |
Cash and cash equivalents [abstract] | ||||||
Foreign currency accrued interest percentage | 4.86% | 3.79% | 4.86% | 3.79% | ||
Foreign currency interest rate on inter-bank funds liabilities | 5.33% | 4.39% | 4% | 5.33% | 4.39% | |
Local currency accrued interest percentage | 6.75% | 7.50% | 6.75% | 7.50% | ||
Deposits in foreign currency | S/ 482,170,000 | S/ 762,800,000 | S/ 140,000,000 | $ 130,000,000 | $ 200,000,000 | |
Interest income on excess of legal reserve | 194,446,000 | 61,302,000 | S/ 3,000 | |||
Interest income on deposits | 68,850,000 | 35,874,000 | 799,000 | |||
Interest income on time deposit | S/ 36,960,000 | S/ 48,331,000 | S/ 38,068,000 | |||
Foreign currency accrued interest rate on inter-bank funds liabilities | 5.50% | 5.50% |
Financial investments - Summary
Financial investments - Summary of financial investments (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 | Jan. 01, 2022 |
Disclosure of financial assets [line items] | |||
Financial investments | S/ 26,721,991 | S/ 22,787,598 | S/ 24,547,294 |
Accrued income | 26,721,991 | 22,787,598 | |
Debt instruments measured at fair value through other comprehensive income [member] | |||
Disclosure of financial assets [line items] | |||
Financial investments | 20,912,184 | 16,716,517 | |
Accrued income | 334,385 | 322,425 | |
Investments at amortized cost [member] | |||
Disclosure of financial assets [line items] | |||
Financial investments | 3,383,014 | 3,231,139 | |
Accrued income | 90,990 | 71,640 | |
Investments at fair value through profit or loss [member] | |||
Disclosure of financial assets [line items] | |||
Financial investments | 1,556,540 | 1,932,993 | |
Equity instruments measured at fair value through other comprehensive income [member] | |||
Disclosure of financial assets [line items] | |||
Financial investments | 444,878 | 512,884 | |
Total financial investments [member] | |||
Disclosure of financial assets [line items] | |||
Financial investments | S/ 26,296,616 | S/ 22,393,533 |
Financial investments - Summa_2
Financial investments - Summary of debt instruments measured at fair value through other comprehensive income (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Disclosure of financial assets [line items] | ||
Estimated fair value | S/ 21,246,569 | S/ 17,038,942 |
Accrued interest | 26,721,991 | 22,787,598 |
Debt instruments measured at fair value through other comprehensive income [member] | ||
Disclosure of financial assets [line items] | ||
Amortized cost | 22,278,180 | 19,208,992 |
Unrealized gross amount - Gains | 108,584 | 11,854 |
Unrealized gross amount - Losses | (1,474,580) | (2,504,329) |
Estimated fair value | 20,912,184 | 16,716,517 |
Accrued interest | 334,385 | 322,425 |
Debt instruments measured at fair value through other comprehensive income [member] | Corporate, leasing and subordinated bonds [member] | ||
Disclosure of financial assets [line items] | ||
Amortized cost | 9,443,384 | 8,707,969 |
Unrealized gross amount - Gains | 83,511 | 9,477 |
Unrealized gross amount - Losses | (865,654) | (1,143,244) |
Estimated fair value | S/ 8,661,241 | S/ 7,574,202 |
Debt instruments measured at fair value through other comprehensive income [member] | Corporate, leasing and subordinated bonds [member] | Bottom of range [member] | ||
Disclosure of financial assets [line items] | ||
Annual effective interest rates - Domestic | 2.22% | 1.60% |
Annual effective interest rates - Foreign | 4% | 5.10% |
Debt instruments measured at fair value through other comprehensive income [member] | Corporate, leasing and subordinated bonds [member] | Top of range [member] | ||
Disclosure of financial assets [line items] | ||
Annual effective interest rates - Domestic | 14.52% | 13.26% |
Annual effective interest rates - Foreign | 18% | 13.14% |
Debt instruments measured at fair value through other comprehensive income [member] | Sovereign Bonds of the Republic of Peru [member] | ||
Disclosure of financial assets [line items] | ||
Amortized cost | S/ 8,320,671 | S/ 7,878,445 |
Unrealized gross amount - Gains | 13,599 | 590 |
Unrealized gross amount - Losses | (558,282) | (1,270,254) |
Estimated fair value | S/ 7,775,988 | S/ 6,608,781 |
Debt instruments measured at fair value through other comprehensive income [member] | Sovereign Bonds of the Republic of Peru [member] | Bottom of range [member] | ||
Disclosure of financial assets [line items] | ||
Annual effective interest rates - Domestic | 0.95% | 1.89% |
Annual effective interest rates - Foreign | 0% | 0% |
Debt instruments measured at fair value through other comprehensive income [member] | Sovereign Bonds of the Republic of Peru [member] | Top of range [member] | ||
Disclosure of financial assets [line items] | ||
Annual effective interest rates - Domestic | 6.82% | 8.14% |
Annual effective interest rates - Foreign | 0% | 0% |
Debt instruments measured at fair value through other comprehensive income [member] | Variable interest Certificates of Deposit issued by the Central Reserve Bank of Peru [member] | ||
Disclosure of financial assets [line items] | ||
Amortized cost | S/ 1,434,752 | |
Unrealized gross amount - Gains | 89 | |
Unrealized gross amount - Losses | (5) | |
Estimated fair value | S/ 1,434,836 | |
Debt instruments measured at fair value through other comprehensive income [member] | Variable interest Certificates of Deposit issued by the Central Reserve Bank of Peru [member] | Bottom of range [member] | ||
Disclosure of financial assets [line items] | ||
Annual effective interest rates - Domestic | 7.29% | |
Annual effective interest rates - Foreign | 0% | |
Debt instruments measured at fair value through other comprehensive income [member] | Variable interest Certificates of Deposit issued by the Central Reserve Bank of Peru [member] | Top of range [member] | ||
Disclosure of financial assets [line items] | ||
Annual effective interest rates - Domestic | 7.46% | |
Annual effective interest rates - Foreign | 0% | |
Debt instruments measured at fair value through other comprehensive income [member] | Bonds guaranteed by the peruvian government [member] | ||
Disclosure of financial assets [line items] | ||
Amortized cost | S/ 475,542 | S/ 512,316 |
Unrealized gross amount - Gains | 7,810 | 1,698 |
Unrealized gross amount - Losses | (9,722) | (26,286) |
Estimated fair value | S/ 473,630 | S/ 487,728 |
Debt instruments measured at fair value through other comprehensive income [member] | Bonds guaranteed by the peruvian government [member] | Bottom of range [member] | ||
Disclosure of financial assets [line items] | ||
Annual effective interest rates - Domestic | 2.81% | 3.48% |
Annual effective interest rates - Foreign | 7.39% | 6.86% |
Debt instruments measured at fair value through other comprehensive income [member] | Bonds guaranteed by the peruvian government [member] | Top of range [member] | ||
Disclosure of financial assets [line items] | ||
Annual effective interest rates - Domestic | 4.65% | 6.01% |
Annual effective interest rates - Foreign | 7.92% | 8.25% |
Debt instruments measured at fair value through other comprehensive income [member] | Global bonds of the republic of peru [member] | ||
Disclosure of financial assets [line items] | ||
Amortized cost | S/ 498,897 | S/ 508,813 |
Unrealized gross amount - Gains | 0 | 0 |
Unrealized gross amount - Losses | (35,564) | (55,527) |
Estimated fair value | S/ 463,333 | S/ 453,286 |
Debt instruments measured at fair value through other comprehensive income [member] | Global bonds of the republic of peru [member] | Bottom of range [member] | ||
Disclosure of financial assets [line items] | ||
Annual effective interest rates - Domestic | 0% | 0% |
Annual effective interest rates - Foreign | 4.76% | 5.18% |
Debt instruments measured at fair value through other comprehensive income [member] | Global bonds of the republic of peru [member] | Top of range [member] | ||
Disclosure of financial assets [line items] | ||
Annual effective interest rates - Domestic | 0% | 0% |
Annual effective interest rates - Foreign | 5.23% | 5.60% |
Debt instruments measured at fair value through other comprehensive income [member] | Global bonds of the republic of colombia [member] | ||
Disclosure of financial assets [line items] | ||
Amortized cost | S/ 82,836 | |
Unrealized gross amount - Gains | 0 | |
Unrealized gross amount - Losses | (2,026) | |
Estimated fair value | S/ 80,810 | |
Debt instruments measured at fair value through other comprehensive income [member] | Global bonds of the republic of colombia [member] | Bottom of range [member] | ||
Disclosure of financial assets [line items] | ||
Annual effective interest rates - Domestic | 0% | |
Annual effective interest rates - Foreign | 6.07% | |
Debt instruments measured at fair value through other comprehensive income [member] | Global bonds of the republic of colombia [member] | Top of range [member] | ||
Disclosure of financial assets [line items] | ||
Annual effective interest rates - Domestic | 0% | |
Annual effective interest rates - Foreign | 6.23% | |
Debt instruments measured at fair value through other comprehensive income [member] | Negotiable certificates of deposit issued by the Central Reserve Bank of Peru BCRP [member] | ||
Disclosure of financial assets [line items] | ||
Amortized cost | S/ 3,445,361 | S/ 44,234 |
Unrealized gross amount - Gains | 3,638 | 0 |
Unrealized gross amount - Losses | (15) | (366) |
Estimated fair value | S/ 3,448,984 | S/ 43,868 |
Debt instruments measured at fair value through other comprehensive income [member] | Negotiable certificates of deposit issued by the Central Reserve Bank of Peru BCRP [member] | Bottom of range [member] | ||
Disclosure of financial assets [line items] | ||
Annual effective interest rates - Domestic | 5.60% | 2.28% |
Annual effective interest rates - Foreign | 0% | 0% |
Debt instruments measured at fair value through other comprehensive income [member] | Negotiable certificates of deposit issued by the Central Reserve Bank of Peru BCRP [member] | Top of range [member] | ||
Disclosure of financial assets [line items] | ||
Annual effective interest rates - Domestic | 6.66% | 2.28% |
Annual effective interest rates - Foreign | 0% | 0% |
Debt instruments measured at fair value through other comprehensive income [member] | Treasury Bonds Of The United States Of America [Member] | ||
Disclosure of financial assets [line items] | ||
Amortized cost | S/ 76,556 | S/ 21,387 |
Unrealized gross amount - Gains | 26 | 0 |
Unrealized gross amount - Losses | (3,252) | (3,661) |
Estimated fair value | S/ 73,330 | S/ 17,726 |
Debt instruments measured at fair value through other comprehensive income [member] | Treasury Bonds Of The United States Of America [Member] | Bottom of range [member] | ||
Disclosure of financial assets [line items] | ||
Annual effective interest rates - Domestic | 0% | 0% |
Annual effective interest rates - Foreign | 3.87% | 3.85% |
Debt instruments measured at fair value through other comprehensive income [member] | Treasury Bonds Of The United States Of America [Member] | Top of range [member] | ||
Disclosure of financial assets [line items] | ||
Annual effective interest rates - Domestic | 0% | 0% |
Annual effective interest rates - Foreign | 5% | 3.85% |
Debt instruments measured at fair value through other comprehensive income [member] | Global Bonds Of The united States Of Mexico [Member] | ||
Disclosure of financial assets [line items] | ||
Amortized cost | S/ 17,769 | S/ 18,240 |
Unrealized gross amount - Gains | 0 | 0 |
Unrealized gross amount - Losses | (2,091) | (2,960) |
Estimated fair value | S/ 15,678 | S/ 15,280 |
Debt instruments measured at fair value through other comprehensive income [member] | Global Bonds Of The united States Of Mexico [Member] | Bottom of range [member] | ||
Disclosure of financial assets [line items] | ||
Annual effective interest rates - Domestic | 0% | |
Annual effective interest rates - Foreign | 5.51% | 6.06% |
Debt instruments measured at fair value through other comprehensive income [member] | Global Bonds Of The united States Of Mexico [Member] | Top of range [member] | ||
Disclosure of financial assets [line items] | ||
Annual effective interest rates - Domestic | 0% | |
Annual effective interest rates - Foreign | 5.51% | 6.06% |
Financial investments - Summa_3
Financial investments - Summary of debt instruments measured at fair value through other comprehensive income (Parenthetical) (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of financial assets [line items] | ||
Debt securities held | S/ 21,246,569 | S/ 17,038,942 |
Inteligo group corp [member] | Negotiable certificates of deposit issued by the Central Reserve Bank of Peru BCRP [member] | ||
Disclosure of financial assets [line items] | ||
Debt securities held | 101,215 | 116,603 |
Interbank [Member] | Negotiable certificates of deposit issued by the Central Reserve Bank of Peru BCRP [member] | ||
Disclosure of financial assets [line items] | ||
Debt securities held | 887,454 | S/ 1,047,815 |
Interbank [Member] | Negotiable certificates of deposit issued by the central reserve bank of peru bcrp for guarantee loans with foreign [member] | ||
Disclosure of financial assets [line items] | ||
Debt securities held | 629,265 | |
Interbank [Member] | Negotiable certificates of deposits issued by the bcrp [member] | ||
Disclosure of financial assets [line items] | ||
Debt securities held | S/ 785,206 |
Financial investments - Summa_4
Financial investments - Summary of credit quality and maximum exposure to credit risk (Detail) - Debt instruments measured at fair value through other comprehensive income [member] - PEN (S/) S/ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Impaired individually impaired [member] | ||
Disclosure of internal credit grades [line items] | ||
Maximum exposure to credit risk | S/ 1,697 | S/ 418 |
Impaired collectively impaired [member] | ||
Disclosure of internal credit grades [line items] | ||
Maximum exposure to credit risk | 20,912,184 | 16,716,517 |
Stage 1 [member] | Impaired individually impaired [member] | ||
Disclosure of internal credit grades [line items] | ||
Maximum exposure to credit risk | ||
Stage 1 [member] | Impaired collectively impaired [member] | ||
Disclosure of internal credit grades [line items] | ||
Maximum exposure to credit risk | 20,160,308 | 15,770,778 |
Stage 2 [member] | Impaired individually impaired [member] | ||
Disclosure of internal credit grades [line items] | ||
Maximum exposure to credit risk | ||
Stage 2 [member] | Impaired collectively impaired [member] | ||
Disclosure of internal credit grades [line items] | ||
Maximum exposure to credit risk | 750,179 | 945,321 |
Stage 3 [member] | Impaired individually impaired [member] | ||
Disclosure of internal credit grades [line items] | ||
Maximum exposure to credit risk | 1,697 | 418 |
Stage 3 [member] | Impaired collectively impaired [member] | ||
Disclosure of internal credit grades [line items] | ||
Maximum exposure to credit risk | 1,697 | 418 |
High grade [member] | ||
Disclosure of internal credit grades [line items] | ||
Maximum exposure to credit risk | 4,261,926 | 2,271,038 |
High grade [member] | Stage 1 [member] | ||
Disclosure of internal credit grades [line items] | ||
Maximum exposure to credit risk | 4,261,926 | 2,271,038 |
High grade [member] | Stage 2 [member] | ||
Disclosure of internal credit grades [line items] | ||
Maximum exposure to credit risk | ||
High grade [member] | Stage 3 [member] | ||
Disclosure of internal credit grades [line items] | ||
Maximum exposure to credit risk | ||
Standard grade [member] | ||
Disclosure of internal credit grades [line items] | ||
Maximum exposure to credit risk | 16,648,561 | 14,445,061 |
Standard grade [member] | Stage 1 [member] | ||
Disclosure of internal credit grades [line items] | ||
Maximum exposure to credit risk | 15,898,382 | 13,499,740 |
Standard grade [member] | Stage 2 [member] | ||
Disclosure of internal credit grades [line items] | ||
Maximum exposure to credit risk | 750,179 | 945,321 |
Standard grade [member] | Stage 3 [member] | ||
Disclosure of internal credit grades [line items] | ||
Maximum exposure to credit risk | ||
Sub-standard grade [member] | Stage 1 [member] | ||
Disclosure of internal credit grades [line items] | ||
Maximum exposure to credit risk | ||
Sub-standard grade [member] | Stage 2 [member] | ||
Disclosure of internal credit grades [line items] | ||
Maximum exposure to credit risk | S/ 0 | S/ 0 |
Financial investments - Additio
Financial investments - Additional information (Detail) | 1 Months Ended | 12 Months Ended | ||||
Oct. 31, 2021 PEN (S/) shares | Dec. 31, 2023 PEN (S/) | Dec. 31, 2022 PEN (S/) | Dec. 31, 2021 PEN (S/) | Dec. 31, 2020 PEN (S/) | Oct. 31, 2021 USD ($) | |
Disclosure of financial assets [line items] | ||||||
Debt securities held | S/ 21,246,569,000 | S/ 17,038,942,000 | ||||
(Loss) recovery due to impairment of financial investments | 7,500,000 | 12,752,000 | S/ (30,898,000) | |||
Investments at amortized cost | 61,651,344,000 | 63,294,936,000 | ||||
Investments estimated fair value | 3,277,672,000 | 2,949,507,000 | ||||
Investments measured at fair value through profit or loss held for trading | 194,033,000 | 209,549,000 | ||||
Investments mandatorily measured at fair value through profit or loss | 1,362,507,000 | 1,723,444,000 | ||||
Net gain from financial assets at fair value through profit or loss | 53,134,000 | 303,733,000 | 123,372,000 | |||
Dividend From Entities | 33,941,000 | 45,031,000 | 99,200,000 | |||
Gain(Loss) on sale of shares at fair value through other comprehensive income | 33,433,000 | S/ 16,313,000 | 180,905,000 | |||
Term Deposit [Member] | ||||||
Disclosure of financial assets [line items] | ||||||
Investments estimated fair value | 80,042,000 | |||||
Term Deposit Issued Value | 80,042,000 | |||||
Accured Interest On Term Deposit | S/ 4,338,000 | |||||
Bottom of range [member] | ||||||
Disclosure of financial assets [line items] | ||||||
Investments maturity date | August 2024 | September 2023 | ||||
investments effective interest rate | 4.36% | 4.29% | ||||
Bottom of range [member] | Term Deposit [Member] | ||||||
Disclosure of financial assets [line items] | ||||||
Investments maturity date | April 2024 | |||||
investments effective interest rate | 3.10% | |||||
Top of range [member] | ||||||
Disclosure of financial assets [line items] | ||||||
Investments maturity date | August 2037 | August 2037 | ||||
investments effective interest rate | 7.50% | 6.64% | ||||
Top of range [member] | Term Deposit [Member] | ||||||
Disclosure of financial assets [line items] | ||||||
Investments maturity date | February 2029 | |||||
investments effective interest rate | 8.80% | |||||
InRetail Perú Corp [member] | ||||||
Disclosure of financial assets [line items] | ||||||
Debt securities held | S/ 341,646,000 | |||||
Gain(Loss) on sale of shares at fair value through other comprehensive income | S/ 270,993,000 | |||||
RPI international holding [member] | ||||||
Disclosure of financial assets [line items] | ||||||
Dividends from investments | S/ 8,838,000 | 33,897,000 | S/ 2,536,000 | |||
InRetail Peru Corp. [Member] | ||||||
Disclosure of financial assets [line items] | ||||||
Debt securities held | 80,372,000 | S/ 345,791,000 | S/ 1,240,052,000 | $ 84,108,000 | ||
Investment owned, ownership percentage | 2.33% | |||||
Share Issued at fair value through other comprehensive income | shares | 2,396,920 | |||||
Sovereign bonds of the republic of peru [member] | ||||||
Disclosure of financial assets [line items] | ||||||
Investments at amortized cost | 3,393,962,000 | 3,304,779,000 | ||||
Accured Interest on borrowings | 86,652,000 | 71,640,000 | ||||
Loans issued by BCRP [member] | Interbank [member] | ||||||
Disclosure of financial assets [line items] | ||||||
Debt securities held | 2,058,931,000 | 2,310,536,000 | ||||
Financial Investments [Member] | ||||||
Disclosure of financial assets [line items] | ||||||
Debt securities held | 21,246,569,000 | 17,038,942,000 | ||||
Investments at amortized cost | 3,474,004,000 | S/ 3,302,779,000 | ||||
Losses arising from derecognition of financial assets measured at amortised cost | 490,000 | |||||
Financial Investments [Member] | Interbank [member] | ||||||
Disclosure of financial assets [line items] | ||||||
Investments at amortized cost | 488,127,000 | |||||
Loans Issued By ForeignBank [Member] | Interbank [member] | ||||||
Disclosure of financial assets [line items] | ||||||
Debt securities held | 445,909,000 | |||||
Financial Investments at Amortized Cost [Member] | ||||||
Disclosure of financial assets [line items] | ||||||
Investments at amortized cost | S/ 482,632,000 |
Financial investments - Summa_5
Financial investments - Summary of analysis of changes in fair value and corresponding expected credit loss (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Disclosure of financial assets [line items] | ||
Beginning of year balances | S/ 53,974 | S/ 41,108 |
New originated or purchased assets | 1,689 | 3,132 |
Assets matured or derecognized (excluding write-offs) | (993) | (462) |
Transfers to Stage 1 | ||
Transfers to Stage 2 | ||
Transfers to Stage 3 | ||
Effect on the expected credit loss due to the change of the Stage during the year | (589) | 15,548 |
Others | 7,381 | (5,468) |
Write-offs | ||
Recoveries | ||
Foreign exchange effect | (416) | 116 |
End of year balances | 61,046 | 53,974 |
Stage 1 [member] | ||
Disclosure of financial assets [line items] | ||
Beginning of year balances | 10,822 | 9,456 |
New originated or purchased assets | 1,689 | 3,132 |
Assets matured or derecognized (excluding write-offs) | (877) | (416) |
Transfers to Stage 1 | 4,198 | |
Transfers to Stage 2 | (183) | (105) |
Transfers to Stage 3 | (305) | |
Effect on the expected credit loss due to the change of the Stage during the year | (4,003) | |
Others | (1,739) | (1,186) |
Write-offs | ||
Recoveries | ||
Foreign exchange effect | (30) | 246 |
End of year balances | 9,877 | 10,822 |
Stage 2 [member] | ||
Disclosure of financial assets [line items] | ||
Beginning of year balances | 29,600 | 31,652 |
New originated or purchased assets | 0 | |
Assets matured or derecognized (excluding write-offs) | (116) | (46) |
Transfers to Stage 1 | (4,198) | |
Transfers to Stage 2 | 183 | 105 |
Transfers to Stage 3 | (993) | |
Effect on the expected credit loss due to the change of the Stage during the year | 3,414 | 3,237 |
Others | 9,120 | (4,282) |
Write-offs | ||
Recoveries | ||
Foreign exchange effect | (16) | (73) |
End of year balances | 37,987 | 29,600 |
Stage 3 [member] | ||
Disclosure of financial assets [line items] | ||
Beginning of year balances | 13,552 | |
New originated or purchased assets | ||
Assets matured or derecognized (excluding write-offs) | ||
Transfers to Stage 1 | ||
Transfers to Stage 2 | ||
Transfers to Stage 3 | 1,298 | |
Effect on the expected credit loss due to the change of the Stage during the year | 12,311 | |
Others | ||
Write-offs | ||
Recoveries | ||
Foreign exchange effect | (370) | (57) |
End of year balances | 13,182 | 13,552 |
Gross carrying amount [member] | ||
Disclosure of financial assets [line items] | ||
Beginning of year balances, Financial assets | 16,716,517 | 17,629,787 |
New originated or purchased assets | 5,810,766 | 3,211,041 |
Assets derecognized or matured (excluding write-offs) | (2,256,421) | (1,950,217) |
Change in fair value | 726,161 | (1,929,898) |
Transfers to Stage 1 | ||
Transfers to Stage 2 | ||
Transfers to Stage 3 | ||
Write offs | ||
Foreign exchange effect | (84,839) | (244,196) |
End of year balances, Financial assets | 20,912,184 | 16,716,517 |
Gross carrying amount [member] | Stage 1 [member] | ||
Disclosure of financial assets [line items] | ||
Beginning of year balances, Financial assets | 15,770,778 | 16,733,281 |
New originated or purchased assets | 5,810,766 | 3,211,041 |
Assets derecognized or matured (excluding write-offs) | (2,175,611) | (1,939,686) |
Change in fair value | 783,826 | (1,906,272) |
Transfers to Stage 1 | 161,781 | |
Transfers to Stage 2 | (109,392) | (88,095) |
Transfers to Stage 3 | (2,162) | |
Write offs | ||
Foreign exchange effect | (81,840) | (237,329) |
End of year balances, Financial assets | 20,160,308 | 15,770,778 |
Gross carrying amount [member] | Stage 2 [member] | ||
Disclosure of financial assets [line items] | ||
Beginning of year balances, Financial assets | 945,321 | 896,506 |
New originated or purchased assets | ||
Assets derecognized or matured (excluding write-offs) | (80,810) | (10,531) |
Change in fair value | (58,954) | (14,416) |
Transfers to Stage 1 | (161,781) | |
Transfers to Stage 2 | 109,392 | 88,095 |
Transfers to Stage 3 | (7,805) | |
Write offs | ||
Foreign exchange effect | (2,989) | (6,528) |
End of year balances, Financial assets | 750,179 | 945,321 |
Gross carrying amount [member] | Stage 3 [member] | ||
Disclosure of financial assets [line items] | ||
Beginning of year balances, Financial assets | 418 | |
New originated or purchased assets | ||
Assets derecognized or matured (excluding write-offs) | ||
Change in fair value | 1,289 | (9,210) |
Transfers to Stage 1 | ||
Transfers to Stage 2 | ||
Transfers to Stage 3 | 9,967 | |
Write offs | ||
Foreign exchange effect | (10) | (339) |
End of year balances, Financial assets | S/ 1,697 | S/ 418 |
Financial investments - Summa_6
Financial investments - Summary of financial instruments at fair value through profit or loss (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of financial assets [line items] | ||
Financial instruments | S/ 1,556,540 | S/ 1,932,993 |
Local and foreign mutual funds and investment funds participations [member] | ||
Disclosure of financial assets [line items] | ||
Financial instruments | 1,169,491 | 1,517,075 |
Listed shares [member] | ||
Disclosure of financial assets [line items] | ||
Financial instruments | 253,203 | 315,820 |
Non-listed shares [member] | ||
Disclosure of financial assets [line items] | ||
Financial instruments | 122,482 | 74,430 |
Negotiable Certificates of Deposits [Member] | ||
Disclosure of financial assets [line items] | ||
Financial instruments | 6,075 | 0 |
Corporate, leasing and subordinated bonds [member] | ||
Disclosure of financial assets [line items] | ||
Financial instruments | S/ 5,289 | S/ 25,668 |
Financial investments - Summa_7
Financial investments - Summary of equity instruments measured at fair value through other comprehensive income (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Composition of equity instruments | S/ 444,878 | S/ 512,884 |
Listed shares [member] | ||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Composition of equity instruments | 407,636 | 474,588 |
Non-listed shares [member] | ||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Composition of equity instruments | S/ 37,242 | S/ 38,296 |
Financial investments - Summa_8
Financial investments - Summary of financial assets classified by contractual maturity (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Investments at fair value through other comprehensive income [member] | ||
Disclosure of financial assets [line items] | ||
Financial investments | S/ 21,357,062 | S/ 17,229,401 |
Investments at fair value through other comprehensive income [member] | Up to 3 months [member] | ||
Disclosure of financial assets [line items] | ||
Financial investments | 1,933,761 | 1,610,691 |
Investments at fair value through other comprehensive income [member] | From 3 months to 1 year [member] | ||
Disclosure of financial assets [line items] | ||
Financial investments | 2,279,986 | 152,533 |
Investments at fair value through other comprehensive income [member] | From 1 to 3 years [member] | ||
Disclosure of financial assets [line items] | ||
Financial investments | 2,347,378 | 1,160,014 |
Investments at fair value through other comprehensive income [member] | From 3 to 5 years [member] | ||
Disclosure of financial assets [line items] | ||
Financial investments | 1,660,263 | 2,329,056 |
Investments at fair value through other comprehensive income [member] | From 5 years onwards [member] | ||
Disclosure of financial assets [line items] | ||
Financial investments | 12,690,796 | 11,464,223 |
Investments at fair value through other comprehensive income [member] | Equity instruments (without maturity) [member] | ||
Disclosure of financial assets [line items] | ||
Financial investments | 444,878 | 512,884 |
Investments at amortized cost [member] | ||
Disclosure of financial assets [line items] | ||
Financial investments | 3,383,014 | 3,231,139 |
Investments at amortized cost [member] | Up to 3 months [member] | ||
Disclosure of financial assets [line items] | ||
Financial investments | 0 | 0 |
Investments at amortized cost [member] | From 3 months to 1 year [member] | ||
Disclosure of financial assets [line items] | ||
Financial investments | 634,133 | 494,872 |
Investments at amortized cost [member] | From 1 to 3 years [member] | ||
Disclosure of financial assets [line items] | ||
Financial investments | 485,590 | 640,314 |
Investments at amortized cost [member] | From 3 to 5 years [member] | ||
Disclosure of financial assets [line items] | ||
Financial investments | 146,633 | 443,799 |
Investments at amortized cost [member] | From 5 years onwards [member] | ||
Disclosure of financial assets [line items] | ||
Financial investments | 2,116,658 | 1,652,154 |
Investments at amortized cost [member] | Equity instruments (without maturity) [member] | ||
Disclosure of financial assets [line items] | ||
Financial investments | S/ 0 | S/ 0 |
Financial investments - Summa_9
Financial investments - Summary of stages as indicated by IFRS 9 (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of financial assets [line items] | ||
Debt instruments measured at fair value through other comprehensive income and at amortized cost | S/ 24,295,198 | S/ 19,947,656 |
Stage 1 [member] | ||
Disclosure of financial assets [line items] | ||
Debt instruments measured at fair value through other comprehensive income and at amortized cost | 23,543,322 | 19,001,917 |
Stage 2 [member] | ||
Disclosure of financial assets [line items] | ||
Debt instruments measured at fair value through other comprehensive income and at amortized cost | 750,179 | 945,321 |
Stage 3 [member] | ||
Disclosure of financial assets [line items] | ||
Debt instruments measured at fair value through other comprehensive income and at amortized cost | 1,697 | 418 |
Sovereign bonds of the republic of peru [member] | ||
Disclosure of financial assets [line items] | ||
Debt instruments measured at fair value through other comprehensive income and at amortized cost | 11,083,297 | 9,839,920 |
Sovereign bonds of the republic of peru [member] | Stage 1 [member] | ||
Disclosure of financial assets [line items] | ||
Debt instruments measured at fair value through other comprehensive income and at amortized cost | 11,083,297 | 9,839,920 |
Sovereign bonds of the republic of peru [member] | Stage 2 [member] | ||
Disclosure of financial assets [line items] | ||
Debt instruments measured at fair value through other comprehensive income and at amortized cost | ||
Sovereign bonds of the republic of peru [member] | Stage 3 [member] | ||
Disclosure of financial assets [line items] | ||
Debt instruments measured at fair value through other comprehensive income and at amortized cost | ||
Corporate, leasing and subordinated bonds [member] | ||
Disclosure of financial assets [line items] | ||
Debt instruments measured at fair value through other comprehensive income and at amortized cost | 8,661,241 | 7,574,202 |
Corporate, leasing and subordinated bonds [member] | Stage 1 [member] | ||
Disclosure of financial assets [line items] | ||
Debt instruments measured at fair value through other comprehensive income and at amortized cost | 7,909,365 | 6,709,273 |
Corporate, leasing and subordinated bonds [member] | Stage 2 [member] | ||
Disclosure of financial assets [line items] | ||
Debt instruments measured at fair value through other comprehensive income and at amortized cost | 750,179 | 864,511 |
Corporate, leasing and subordinated bonds [member] | Stage 3 [member] | ||
Disclosure of financial assets [line items] | ||
Debt instruments measured at fair value through other comprehensive income and at amortized cost | 1,697 | 418 |
Variable interest Certificates of Deposit issued by the BCRP | ||
Disclosure of financial assets [line items] | ||
Debt instruments measured at fair value through other comprehensive income and at amortized cost | 1,434,836 | |
Variable interest Certificates of Deposit issued by the BCRP | Stage 1 [member] | ||
Disclosure of financial assets [line items] | ||
Debt instruments measured at fair value through other comprehensive income and at amortized cost | 1,434,836 | |
Variable interest Certificates of Deposit issued by the BCRP | Stage 2 [member] | ||
Disclosure of financial assets [line items] | ||
Debt instruments measured at fair value through other comprehensive income and at amortized cost | ||
Variable interest Certificates of Deposit issued by the BCRP | Stage 3 [member] | ||
Disclosure of financial assets [line items] | ||
Debt instruments measured at fair value through other comprehensive income and at amortized cost | ||
Bonds guaranteed by the Peruvian government | ||
Disclosure of financial assets [line items] | ||
Debt instruments measured at fair value through other comprehensive income and at amortized cost | 473,630 | 487,728 |
Bonds guaranteed by the Peruvian government | Stage 1 [member] | ||
Disclosure of financial assets [line items] | ||
Debt instruments measured at fair value through other comprehensive income and at amortized cost | 473,630 | 487,728 |
Bonds guaranteed by the Peruvian government | Stage 2 [member] | ||
Disclosure of financial assets [line items] | ||
Debt instruments measured at fair value through other comprehensive income and at amortized cost | ||
Bonds guaranteed by the Peruvian government | Stage 3 [member] | ||
Disclosure of financial assets [line items] | ||
Debt instruments measured at fair value through other comprehensive income and at amortized cost | ||
Global bonds of the republic of peru [member] | ||
Disclosure of financial assets [line items] | ||
Debt instruments measured at fair value through other comprehensive income and at amortized cost | 463,333 | 453,286 |
Global bonds of the republic of peru [member] | Stage 1 [member] | ||
Disclosure of financial assets [line items] | ||
Debt instruments measured at fair value through other comprehensive income and at amortized cost | 463,333 | 453,286 |
Global bonds of the republic of peru [member] | Stage 2 [member] | ||
Disclosure of financial assets [line items] | ||
Debt instruments measured at fair value through other comprehensive income and at amortized cost | ||
Global bonds of the republic of peru [member] | Stage 3 [member] | ||
Disclosure of financial assets [line items] | ||
Debt instruments measured at fair value through other comprehensive income and at amortized cost | ||
Global bonds of the republic of colombia [member] | ||
Disclosure of financial assets [line items] | ||
Debt instruments measured at fair value through other comprehensive income and at amortized cost | 15,678 | 80,810 |
Global bonds of the republic of colombia [member] | Stage 1 [member] | ||
Disclosure of financial assets [line items] | ||
Debt instruments measured at fair value through other comprehensive income and at amortized cost | 15,678 | |
Global bonds of the republic of colombia [member] | Stage 2 [member] | ||
Disclosure of financial assets [line items] | ||
Debt instruments measured at fair value through other comprehensive income and at amortized cost | 80,810 | |
Global bonds of the republic of colombia [member] | Stage 3 [member] | ||
Disclosure of financial assets [line items] | ||
Debt instruments measured at fair value through other comprehensive income and at amortized cost | ||
Global bonds of the republic of chile [member] | Stage 2 [member] | ||
Disclosure of financial assets [line items] | ||
Debt instruments measured at fair value through other comprehensive income and at amortized cost | 0 | |
Negotiable Certificates of Deposit issued by the BCRP [member] | ||
Disclosure of financial assets [line items] | ||
Debt instruments measured at fair value through other comprehensive income and at amortized cost | 3,448,984 | 43,868 |
Negotiable Certificates of Deposit issued by the BCRP [member] | Stage 1 [member] | ||
Disclosure of financial assets [line items] | ||
Debt instruments measured at fair value through other comprehensive income and at amortized cost | 3,448,984 | 43,868 |
Negotiable Certificates of Deposit issued by the BCRP [member] | Stage 2 [member] | ||
Disclosure of financial assets [line items] | ||
Debt instruments measured at fair value through other comprehensive income and at amortized cost | ||
Negotiable Certificates of Deposit issued by the BCRP [member] | Stage 3 [member] | ||
Disclosure of financial assets [line items] | ||
Debt instruments measured at fair value through other comprehensive income and at amortized cost | ||
Other [Member] | ||
Disclosure of financial assets [line items] | ||
Debt instruments measured at fair value through other comprehensive income and at amortized cost | 75,705 | |
Other [Member] | Stage 1 [member] | ||
Disclosure of financial assets [line items] | ||
Debt instruments measured at fair value through other comprehensive income and at amortized cost | 75,705 | |
Other [Member] | Stage 2 [member] | ||
Disclosure of financial assets [line items] | ||
Debt instruments measured at fair value through other comprehensive income and at amortized cost | 0 | |
Other [Member] | Stage 3 [member] | ||
Disclosure of financial assets [line items] | ||
Debt instruments measured at fair value through other comprehensive income and at amortized cost | 0 | |
Treasury Bonds Of The United States Of America [Member] | ||
Disclosure of financial assets [line items] | ||
Debt instruments measured at fair value through other comprehensive income and at amortized cost | 73,330 | 17,726 |
Treasury Bonds Of The United States Of America [Member] | Stage 1 [member] | ||
Disclosure of financial assets [line items] | ||
Debt instruments measured at fair value through other comprehensive income and at amortized cost | 73,330 | 17,726 |
Treasury Bonds Of The United States Of America [Member] | Stage 2 [member] | ||
Disclosure of financial assets [line items] | ||
Debt instruments measured at fair value through other comprehensive income and at amortized cost | 0 | |
Treasury Bonds Of The United States Of America [Member] | Stage 3 [member] | ||
Disclosure of financial assets [line items] | ||
Debt instruments measured at fair value through other comprehensive income and at amortized cost | S/ 0 | |
Global Bonds Of The united States Of Mexico [Member] | ||
Disclosure of financial assets [line items] | ||
Debt instruments measured at fair value through other comprehensive income and at amortized cost | 15,280 | |
Global Bonds Of The united States Of Mexico [Member] | Stage 1 [member] | ||
Disclosure of financial assets [line items] | ||
Debt instruments measured at fair value through other comprehensive income and at amortized cost | 15,280 | |
Global Bonds Of The united States Of Mexico [Member] | Stage 2 [member] | ||
Disclosure of financial assets [line items] | ||
Debt instruments measured at fair value through other comprehensive income and at amortized cost | ||
Global Bonds Of The united States Of Mexico [Member] | Stage 3 [member] | ||
Disclosure of financial assets [line items] | ||
Debt instruments measured at fair value through other comprehensive income and at amortized cost |
Loans, net - Summary of loans r
Loans, net - Summary of loans receivables (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 | Jan. 01, 2022 |
Summary of loans receivables [line Items] | |||
Direct loans | S/ 46,520,382 | S/ 45,502,998 | S/ 43,005,583 |
Loans And Receivables Adjustments [Abstract] | |||
Accrued interest from performing loans | 657,355 | 527,615 | |
Unearned interest and interest collected in advance | (36,706) | (22,112) | |
Impairment allowance for loans | (2,349,425) | (2,027,855) | S/ (2,064,917) |
Indirect loans | 4,743,480 | 4,487,347 | |
Past due and under legal collection loans [member] | |||
Summary of loans receivables [line Items] | |||
Direct loans | 48,249,158 | 47,025,350 | |
Gross carrying amount [member] | |||
Summary of loans receivables [line Items] | |||
Direct loans | 46,597,007 | 45,659,378 | |
Gross carrying amount [member] | Loans [Member] | |||
Summary of loans receivables [line Items] | |||
Direct loans | 35,789,130 | 35,977,734 | |
Gross carrying amount [member] | Credit cards [member] | |||
Summary of loans receivables [line Items] | |||
Direct loans | 6,023,769 | 6,239,314 | |
Gross carrying amount [member] | Discounted notes [member] | |||
Summary of loans receivables [line Items] | |||
Direct loans | 1,567,411 | 894,588 | |
Gross carrying amount [member] | Leasing [member] | |||
Summary of loans receivables [line Items] | |||
Direct loans | 1,495,290 | 1,174,542 | |
Gross carrying amount [member] | Factoring [member] | |||
Summary of loans receivables [line Items] | |||
Direct loans | 1,244,795 | 1,011,496 | |
Gross carrying amount [member] | Advances and overdrafts [member] | |||
Summary of loans receivables [line Items] | |||
Direct loans | 14,617 | 38,763 | |
Gross carrying amount [member] | Refinanced loans [member] | |||
Summary of loans receivables [line Items] | |||
Direct loans | 461,995 | 322,941 | |
Gross carrying amount [member] | Past due and under legal collection loans [member] | |||
Summary of loans receivables [line Items] | |||
Direct loans | S/ 1,652,151 | S/ 1,365,972 |
Loans, net - Summary of classif
Loans, net - Summary of classification of direct loan portfolio (Detail) - Gross carrying amount [member] - PEN (S/) S/ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Summary of loans receivables [line Items] | ||
Direct loans | S/ 48,249,158 | S/ 47,025,350 |
Commercial loans [member] | ||
Summary of loans receivables [line Items] | ||
Direct loans | 21,155,476 | 21,412,126 |
Consumer loans [member] | ||
Summary of loans receivables [line Items] | ||
Direct loans | 16,325,460 | 14,967,799 |
Mortgage loans [member] | ||
Summary of loans receivables [line Items] | ||
Direct loans | 9,834,398 | 9,286,944 |
Small and micro-business loans [member] | ||
Summary of loans receivables [line Items] | ||
Direct loans | S/ 933,824 | S/ 1,358,481 |
Loans, net - Summary of credit
Loans, net - Summary of credit quality and maximum exposure to credit risk (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 | Jan. 01, 2022 | Dec. 31, 2021 |
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | S/ 46,520,382 | S/ 45,502,998 | S/ 43,005,583 | |
Direct loans [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 48,249,158 | 47,025,350 | S/ 44,688,222 | |
Direct loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 3,410,030 | 2,274,696 | ||
Direct loans [member] | Impaired individually impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 36,257 | 45,907 | ||
Direct loans [member] | Impaired collectively impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 1,474,431 | 1,144,220 | ||
Contingent credits [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 4,743,480 | 4,487,347 | ||
Contingent credits [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | ||||
Contingent credits [member] | Impaired individually impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 6,181 | 9,330 | ||
Contingent credits [member] | Impaired collectively impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 9,619 | 16,746 | ||
Commercial loans [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 21,155,476 | 21,412,126 | ||
Commercial loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 1,795,667 | 1,102,252 | ||
Commercial loans [member] | Impaired individually impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 36,257 | 45,907 | ||
Commercial loans [member] | Impaired collectively impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 361,902 | 362,197 | ||
Consumer loans [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 16,325,460 | 14,967,799 | ||
Consumer loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 1,046,831 | 679,907 | ||
Consumer loans [member] | Impaired individually impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | ||||
Consumer loans [member] | Impaired collectively impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 733,096 | 452,301 | ||
Mortgage loans [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 9,834,398 | 9,286,944 | ||
Mortgage loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 461,973 | 338,686 | ||
Mortgage loans [member] | Impaired individually impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | ||||
Mortgage loans [member] | Impaired collectively impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 273,405 | 238,527 | ||
Small and micro-business loans [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 933,824 | 1,358,481 | ||
Small and micro-business loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 105,559 | 153,851 | ||
Small and micro-business loans [member] | Impaired individually impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | ||||
Small and micro-business loans [member] | Impaired collectively impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 106,028 | 91,195 | ||
High Grade [Member] | Direct loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 36,167,038 | 36,725,412 | ||
High Grade [Member] | Contingent credits [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 4,446,517 | 4,347,643 | ||
High Grade [Member] | Commercial loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 15,835,246 | 17,127,626 | ||
High Grade [Member] | Consumer loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 11,675,015 | 11,512,873 | ||
High Grade [Member] | Mortgage loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 8,106,314 | 7,491,528 | ||
High Grade [Member] | Small and micro-business loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 550,463 | 593,385 | ||
Standard Grade [Member] | Direct loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 4,343,148 | 5,118,121 | ||
Standard Grade [Member] | Contingent credits [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 247,239 | 51,624 | ||
Standard Grade [Member] | Commercial loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 2,361,764 | 2,221,817 | ||
Standard Grade [Member] | Consumer loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 1,397,871 | 1,719,462 | ||
Standard Grade [Member] | Mortgage loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 451,092 | 683,010 | ||
Standard Grade [Member] | Small and micro-business loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 132,421 | 493,832 | ||
Sub-standard grade [member] | Direct loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 2,818,254 | 1,716,994 | ||
Sub-standard grade [member] | Contingent credits [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 33,924 | 62,004 | ||
Sub-standard grade [member] | Commercial loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 764,640 | 552,327 | ||
Sub-standard grade [member] | Consumer loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 1,472,647 | 603,256 | ||
Sub-standard grade [member] | Mortgage loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 541,614 | 535,193 | ||
Sub-standard grade [member] | Small and micro-business loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 39,353 | 26,218 | ||
Stage 1 [member] | Direct loans [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 41,248,010 | 41,798,055 | 40,522,481 | |
Stage 1 [member] | Direct loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 1,949,892 | 1,124,557 | ||
Stage 1 [member] | Direct loans [member] | Impaired individually impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | ||||
Stage 1 [member] | Direct loans [member] | Impaired collectively impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | ||||
Stage 1 [member] | Contingent credits [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 4,024,255 | 3,959,441 | ||
Stage 1 [member] | Contingent credits [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | ||||
Stage 1 [member] | Contingent credits [member] | Impaired individually impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | ||||
Stage 1 [member] | Contingent credits [member] | Impaired collectively impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | ||||
Stage 1 [member] | Commercial loans [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 18,208,958 | 19,289,529 | ||
Stage 1 [member] | Commercial loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 1,431,064 | 704,067 | ||
Stage 1 [member] | Commercial loans [member] | Impaired individually impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | ||||
Stage 1 [member] | Commercial loans [member] | Impaired collectively impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | ||||
Stage 1 [member] | Consumer loans [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 13,355,812 | 12,685,924 | ||
Stage 1 [member] | Consumer loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 217,712 | 153,865 | ||
Stage 1 [member] | Consumer loans [member] | Impaired individually impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | ||||
Stage 1 [member] | Consumer loans [member] | Impaired collectively impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | ||||
Stage 1 [member] | Mortgage loans [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 8,981,439 | 8,698,789 | ||
Stage 1 [member] | Mortgage loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 261,100 | 205,728 | ||
Stage 1 [member] | Mortgage loans [member] | Impaired individually impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | ||||
Stage 1 [member] | Mortgage loans [member] | Impaired collectively impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | ||||
Stage 1 [member] | Small and micro-business loans [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 701,801 | 1,123,813 | ||
Stage 1 [member] | Small and micro-business loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 40,016 | 60,897 | ||
Stage 1 [member] | Small and micro-business loans [member] | Impaired individually impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | ||||
Stage 1 [member] | Small and micro-business loans [member] | Impaired collectively impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | ||||
Stage 1 [member] | High Grade [Member] | Direct loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 35,098,364 | 35,613,991 | ||
Stage 1 [member] | High Grade [Member] | Contingent credits [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 3,988,999 | 3,945,307 | ||
Stage 1 [member] | High Grade [Member] | Commercial loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 14,979,356 | 16,213,146 | ||
Stage 1 [member] | High Grade [Member] | Consumer loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 11,475,514 | 11,331,807 | ||
Stage 1 [member] | High Grade [Member] | Mortgage loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 8,093,031 | 7,490,495 | ||
Stage 1 [member] | High Grade [Member] | Small and micro-business loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 550,463 | 578,543 | ||
Stage 1 [member] | Standard Grade [Member] | Direct loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 2,832,251 | 4,282,904 | ||
Stage 1 [member] | Standard Grade [Member] | Contingent credits [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 32,433 | 12,083 | ||
Stage 1 [member] | Standard Grade [Member] | Commercial loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 1,347,961 | 1,991,637 | ||
Stage 1 [member] | Standard Grade [Member] | Consumer loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 945,060 | 1,139,837 | ||
Stage 1 [member] | Standard Grade [Member] | Mortgage loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 433,968 | 667,599 | ||
Stage 1 [member] | Standard Grade [Member] | Small and micro-business loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 105,262 | 483,831 | ||
Stage 1 [member] | Sub-standard grade [member] | Direct loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 1,367,503 | 776,603 | ||
Stage 1 [member] | Sub-standard grade [member] | Contingent credits [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 2,823 | 2,051 | ||
Stage 1 [member] | Sub-standard grade [member] | Commercial loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 450,577 | 380,679 | ||
Stage 1 [member] | Sub-standard grade [member] | Consumer loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 717,526 | 60,415 | ||
Stage 1 [member] | Sub-standard grade [member] | Mortgage loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 193,340 | 334,967 | ||
Stage 1 [member] | Sub-standard grade [member] | Small and micro-business loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 6,060 | 542 | ||
Stage 2 [member] | Direct loans [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 5,490,460 | 4,037,168 | 2,853,565 | |
Stage 2 [member] | Direct loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 1,460,138 | 1,150,139 | ||
Stage 2 [member] | Direct loans [member] | Impaired individually impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | ||||
Stage 2 [member] | Direct loans [member] | Impaired collectively impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | ||||
Stage 2 [member] | Contingent credits [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 703,425 | 501,830 | ||
Stage 2 [member] | Contingent credits [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | ||||
Stage 2 [member] | Contingent credits [member] | Impaired individually impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | ||||
Stage 2 [member] | Contingent credits [member] | Impaired collectively impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | ||||
Stage 2 [member] | Commercial loans [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 2,548,359 | 1,714,493 | ||
Stage 2 [member] | Commercial loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 364,603 | 398,185 | ||
Stage 2 [member] | Commercial loans [member] | Impaired individually impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | ||||
Stage 2 [member] | Commercial loans [member] | Impaired collectively impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | ||||
Stage 2 [member] | Consumer loans [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 2,236,552 | 1,829,574 | ||
Stage 2 [member] | Consumer loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 829,119 | 526,042 | ||
Stage 2 [member] | Consumer loans [member] | Impaired individually impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | ||||
Stage 2 [member] | Consumer loans [member] | Impaired collectively impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | ||||
Stage 2 [member] | Mortgage loans [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 579,554 | 349,628 | ||
Stage 2 [member] | Mortgage loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 200,873 | 132,958 | ||
Stage 2 [member] | Mortgage loans [member] | Impaired individually impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | ||||
Stage 2 [member] | Mortgage loans [member] | Impaired collectively impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | ||||
Stage 2 [member] | Small and micro-business loans [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 125,995 | 143,473 | ||
Stage 2 [member] | Small and micro-business loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 65,543 | 92,954 | ||
Stage 2 [member] | Small and micro-business loans [member] | Impaired individually impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | ||||
Stage 2 [member] | Small and micro-business loans [member] | Impaired collectively impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | ||||
Stage 2 [member] | High Grade [Member] | Direct loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 1,068,674 | 1,111,421 | ||
Stage 2 [member] | High Grade [Member] | Contingent credits [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 457,518 | 402,336 | ||
Stage 2 [member] | High Grade [Member] | Commercial loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 855,890 | 914,480 | ||
Stage 2 [member] | High Grade [Member] | Consumer loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 199,501 | 181,066 | ||
Stage 2 [member] | High Grade [Member] | Mortgage loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 13,283 | 1,033 | ||
Stage 2 [member] | High Grade [Member] | Small and micro-business loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 0 | 14,842 | ||
Stage 2 [member] | Standard Grade [Member] | Direct loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 1,510,897 | 835,217 | ||
Stage 2 [member] | Standard Grade [Member] | Contingent credits [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 214,806 | 39,541 | ||
Stage 2 [member] | Standard Grade [Member] | Commercial loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 1,013,803 | 230,180 | ||
Stage 2 [member] | Standard Grade [Member] | Consumer loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 452,811 | 579,625 | ||
Stage 2 [member] | Standard Grade [Member] | Mortgage loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 17,124 | 15,411 | ||
Stage 2 [member] | Standard Grade [Member] | Small and micro-business loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 27,159 | 10,001 | ||
Stage 2 [member] | Sub-standard grade [member] | Direct loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 1,450,751 | 940,391 | ||
Stage 2 [member] | Sub-standard grade [member] | Contingent credits [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 31,101 | 59,953 | ||
Stage 2 [member] | Sub-standard grade [member] | Commercial loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 314,063 | 171,648 | ||
Stage 2 [member] | Sub-standard grade [member] | Consumer loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 755,121 | 542,841 | ||
Stage 2 [member] | Sub-standard grade [member] | Mortgage loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 348,274 | 200,226 | ||
Stage 2 [member] | Sub-standard grade [member] | Small and micro-business loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 33,293 | 25,676 | ||
Stage 3 [member] | Direct loans [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 1,510,688 | 1,190,127 | S/ 1,312,176 | |
Stage 3 [member] | Direct loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | ||||
Stage 3 [member] | Direct loans [member] | Impaired individually impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 36,257 | 45,907 | ||
Stage 3 [member] | Direct loans [member] | Impaired collectively impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 1,474,431 | 1,144,220 | ||
Stage 3 [member] | Contingent credits [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 15,800 | 26,076 | ||
Stage 3 [member] | Contingent credits [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | ||||
Stage 3 [member] | Contingent credits [member] | Impaired individually impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 6,181 | 9,330 | ||
Stage 3 [member] | Contingent credits [member] | Impaired collectively impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 9,619 | 16,746 | ||
Stage 3 [member] | Commercial loans [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 398,159 | 408,104 | ||
Stage 3 [member] | Commercial loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | ||||
Stage 3 [member] | Commercial loans [member] | Impaired individually impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 36,257 | 45,907 | ||
Stage 3 [member] | Commercial loans [member] | Impaired collectively impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 361,902 | 362,197 | ||
Stage 3 [member] | Consumer loans [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 733,096 | 452,301 | ||
Stage 3 [member] | Consumer loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | ||||
Stage 3 [member] | Consumer loans [member] | Impaired individually impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | ||||
Stage 3 [member] | Consumer loans [member] | Impaired collectively impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 733,096 | 452,301 | ||
Stage 3 [member] | Mortgage loans [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 273,405 | 238,527 | ||
Stage 3 [member] | Mortgage loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | ||||
Stage 3 [member] | Mortgage loans [member] | Impaired individually impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | ||||
Stage 3 [member] | Mortgage loans [member] | Impaired collectively impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 273,405 | 238,527 | ||
Stage 3 [member] | Small and micro-business loans [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 106,028 | 91,195 | ||
Stage 3 [member] | Small and micro-business loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | ||||
Stage 3 [member] | Small and micro-business loans [member] | Impaired individually impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | ||||
Stage 3 [member] | Small and micro-business loans [member] | Impaired collectively impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | 106,028 | S/ 91,195 | ||
Stage 3 [member] | High Grade [Member] | Direct loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | ||||
Stage 3 [member] | High Grade [Member] | Contingent credits [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | ||||
Stage 3 [member] | High Grade [Member] | Commercial loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | ||||
Stage 3 [member] | High Grade [Member] | Consumer loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | ||||
Stage 3 [member] | High Grade [Member] | Mortgage loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | ||||
Stage 3 [member] | High Grade [Member] | Small and micro-business loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | ||||
Stage 3 [member] | Standard Grade [Member] | Direct loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | ||||
Stage 3 [member] | Standard Grade [Member] | Contingent credits [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | ||||
Stage 3 [member] | Standard Grade [Member] | Commercial loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | ||||
Stage 3 [member] | Standard Grade [Member] | Consumer loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | ||||
Stage 3 [member] | Standard Grade [Member] | Mortgage loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | ||||
Stage 3 [member] | Standard Grade [Member] | Small and micro-business loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | ||||
Stage 3 [member] | Sub-standard grade [member] | Direct loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | ||||
Stage 3 [member] | Sub-standard grade [member] | Contingent credits [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | ||||
Stage 3 [member] | Sub-standard grade [member] | Commercial loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | ||||
Stage 3 [member] | Sub-standard grade [member] | Consumer loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | ||||
Stage 3 [member] | Sub-standard grade [member] | Mortgage loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables | ||||
Stage 3 [member] | Sub-standard grade [member] | Small and micro-business loans [member] | Impaired not impaired [member] | ||||
Disclosure of financial assets that are either past due or impaired [line items] | ||||
Loans and receivables |
Loans, net - Reconciliation of
Loans, net - Reconciliation of changes in allowance account for credit losses of loans receivable (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | ||
Disclosure of financial assets [line items] | |||
Beginning of year balances, Loans | S/ 45,502,998 | ||
End of year balances, Loans | 46,520,382 | S/ 45,502,998 | |
Beginning of year balances | 53,974 | 41,108 | |
New originated or purchased assets | 1,689 | 3,132 | |
Assets derecognized or matured (excluding write-offs) | (993) | (462) | |
Transfers to Stage 1 | |||
Transfers to Stage 2 | |||
Transfers to Stage 3 | |||
Impact on the expected credit loss for credits that change stage in the year | 7,381 | (5,468) | |
Write-offs | |||
Recovery of written–off loans | |||
Foreign exchange effect | (416) | 116 | |
End of year balances | 61,046 | 53,974 | |
Stage 1 [member] | |||
Disclosure of financial assets [line items] | |||
Beginning of year balances | 10,822 | 9,456 | |
New originated or purchased assets | 1,689 | 3,132 | |
Assets derecognized or matured (excluding write-offs) | (877) | (416) | |
Transfers to Stage 1 | 4,198 | ||
Transfers to Stage 2 | (183) | (105) | |
Transfers to Stage 3 | (305) | ||
Impact on the expected credit loss for credits that change stage in the year | (1,739) | (1,186) | |
Write-offs | |||
Recovery of written–off loans | |||
Foreign exchange effect | (30) | 246 | |
End of year balances | 9,877 | 10,822 | |
Stage 2 [member] | |||
Disclosure of financial assets [line items] | |||
Beginning of year balances | 29,600 | 31,652 | |
New originated or purchased assets | 0 | ||
Assets derecognized or matured (excluding write-offs) | (116) | (46) | |
Transfers to Stage 1 | (4,198) | ||
Transfers to Stage 2 | 183 | 105 | |
Transfers to Stage 3 | (993) | ||
Impact on the expected credit loss for credits that change stage in the year | 9,120 | (4,282) | |
Write-offs | |||
Recovery of written–off loans | |||
Foreign exchange effect | (16) | (73) | |
End of year balances | 37,987 | 29,600 | |
Stage 3 [member] | |||
Disclosure of financial assets [line items] | |||
Beginning of year balances | 13,552 | ||
New originated or purchased assets | |||
Assets derecognized or matured (excluding write-offs) | |||
Transfers to Stage 1 | |||
Transfers to Stage 2 | |||
Transfers to Stage 3 | 1,298 | ||
Impact on the expected credit loss for credits that change stage in the year | |||
Write-offs | |||
Recovery of written–off loans | |||
Foreign exchange effect | (370) | (57) | |
End of year balances | 13,182 | 13,552 | |
Direct loans [member] | |||
Disclosure of financial assets [line items] | |||
Beginning of year balances, Loans | 47,025,350 | 44,688,222 | |
New originated or purchased assets | 22,372,321 | 22,393,323 | |
Assets derecognized or matured (excluding write-offs) | (15,457,581) | (16,260,230) | |
Transfers to Stage 1 | |||
Transfers to Stage 2 | |||
Transfers to Stage 3 | |||
Write offs | (1,714,968) | (960,918) | |
Others | [1] | (3,797,666) | (2,218,534) |
Foreign exchange effect | (178,298) | (616,513) | |
End of year balances, Loans | 48,249,158 | 47,025,350 | |
Beginning of year balances | 2,027,855 | 2,064,917 | |
New originated or purchased assets | 624,484 | 503,454 | |
Assets derecognized or matured (excluding write-offs) | (238,860) | (713,843) | |
Transfers to Stage 1 | |||
Transfers to Stage 2 | |||
Transfers to Stage 3 | |||
Impact on the expected credit loss for credits that change stage in the year | [2] | 1,575,906 | 387,272 |
Others | [3] | 37,701 | 659,674 |
Total | 1,999,231 | 836,557 | |
Write-offs | (1,813,670) | (1,021,539) | |
Recovery of written–off loans | 138,886 | 155,070 | |
Foreign exchange effect | (2,877) | (7,150) | |
End of year balances | 2,349,425 | 2,027,855 | |
Direct loans [member] | Stage 1 [member] | |||
Disclosure of financial assets [line items] | |||
Beginning of year balances, Loans | 41,798,055 | 40,522,481 | |
New originated or purchased assets | 22,372,321 | 22,393,323 | |
Assets derecognized or matured (excluding write-offs) | (14,406,950) | (14,636,477) | |
Transfers to Stage 1 | 762,554 | 1,019,478 | |
Transfers to Stage 2 | (4,664,954) | (3,131,710) | |
Transfers to Stage 3 | (1,235,354) | (401,017) | |
Write offs | |||
Others | [1] | (3,217,003) | (3,383,889) |
Foreign exchange effect | (160,659) | (584,134) | |
End of year balances, Loans | 41,248,010 | 41,798,055 | |
Beginning of year balances | 608,558 | 956,456 | |
New originated or purchased assets | 624,484 | 503,454 | |
Assets derecognized or matured (excluding write-offs) | (147,086) | (173,872) | |
Transfers to Stage 1 | 106,745 | 166,755 | |
Transfers to Stage 2 | (327,728) | (259,226) | |
Transfers to Stage 3 | (163,156) | (74,178) | |
Impact on the expected credit loss for credits that change stage in the year | [2] | (90,594) | (129,388) |
Others | [3] | (65,775) | (382,355) |
Total | (63,110) | (348,810) | |
Write-offs | |||
Recovery of written–off loans | |||
Foreign exchange effect | (206) | 912 | |
End of year balances | 545,242 | 608,558 | |
Direct loans [member] | Stage 2 [member] | |||
Disclosure of financial assets [line items] | |||
Beginning of year balances, Loans | 4,037,168 | 2,853,565 | |
New originated or purchased assets | |||
Assets derecognized or matured (excluding write-offs) | (977,654) | (1,194,405) | |
Transfers to Stage 1 | (760,269) | (1,014,657) | |
Transfers to Stage 2 | 4,706,631 | 3,161,335 | |
Transfers to Stage 3 | (1,054,563) | (317,282) | |
Write offs | |||
Others | [1] | (449,390) | 575,338 |
Foreign exchange effect | (11,463) | (26,726) | |
End of year balances, Loans | 5,490,460 | 4,037,168 | |
Beginning of year balances | 737,286 | 404,881 | |
New originated or purchased assets | |||
Assets derecognized or matured (excluding write-offs) | (66,329) | (237,110) | |
Transfers to Stage 1 | (104,939) | (163,090) | |
Transfers to Stage 2 | 339,051 | 268,700 | |
Transfers to Stage 3 | (269,881) | (88,551) | |
Impact on the expected credit loss for credits that change stage in the year | [2] | 259,309 | 176,416 |
Others | [3] | (60,358) | 375,448 |
Total | 96,853 | 331,813 | |
Write-offs | |||
Recovery of written–off loans | |||
Foreign exchange effect | (227) | 592 | |
End of year balances | 833,912 | 737,286 | |
Direct loans [member] | Stage 3 [member] | |||
Disclosure of financial assets [line items] | |||
Beginning of year balances, Loans | 1,190,127 | 1,312,176 | |
New originated or purchased assets | |||
Assets derecognized or matured (excluding write-offs) | (72,977) | (429,348) | |
Transfers to Stage 1 | (2,285) | (4,821) | |
Transfers to Stage 2 | (41,677) | (29,625) | |
Transfers to Stage 3 | 2,289,917 | 718,299 | |
Write offs | (1,714,968) | (960,918) | |
Others | [1] | (131,273) | 590,017 |
Foreign exchange effect | (6,176) | (5,653) | |
End of year balances, Loans | 1,510,688 | 1,190,127 | |
Beginning of year balances | 682,011 | 703,580 | |
New originated or purchased assets | |||
Assets derecognized or matured (excluding write-offs) | (25,445) | (302,861) | |
Transfers to Stage 1 | (1,806) | (3,665) | |
Transfers to Stage 2 | (11,323) | (9,474) | |
Transfers to Stage 3 | 433,037 | 162,729 | |
Impact on the expected credit loss for credits that change stage in the year | [2] | 1,407,191 | 340,244 |
Others | [3] | 163,834 | 666,581 |
Total | 1,965,488 | 853,554 | |
Write-offs | (1,813,670) | (1,021,539) | |
Recovery of written–off loans | 138,886 | 155,070 | |
Foreign exchange effect | (2,444) | (8,654) | |
End of year balances | 970,271 | 682,011 | |
Commercial loans [member] | |||
Disclosure of financial assets [line items] | |||
Beginning of year balances, Loans | 21,412,126 | ||
End of year balances, Loans | 21,155,476 | 21,412,126 | |
Beginning of year balances | 247,084 | 343,441 | |
New originated or purchased assets | 47,129 | 33,506 | |
Assets derecognized or matured (excluding write-offs) | (39,705) | (149,378) | |
Transfers to Stage 1 | |||
Transfers to Stage 2 | |||
Transfers to Stage 3 | |||
Impact on the expected credit loss for credits that change stage in the year | [2] | 46,093 | (9,787) |
Others | [3] | 37,739 | 97,276 |
Total | 91,256 | (28,383) | |
Write-offs | (62,960) | (68,362) | |
Recovery of written–off loans | 5,189 | 5,942 | |
Foreign exchange effect | (2,103) | (5,554) | |
End of year balances | 278,466 | 247,084 | |
Commercial loans [member] | Stage 1 [member] | |||
Disclosure of financial assets [line items] | |||
Beginning of year balances, Loans | 19,289,529 | ||
End of year balances, Loans | 18,208,958 | 19,289,529 | |
Beginning of year balances | 45,474 | 100,874 | |
New originated or purchased assets | 47,129 | 33,506 | |
Assets derecognized or matured (excluding write-offs) | (26,668) | (18,984) | |
Transfers to Stage 1 | 2,920 | 41,140 | |
Transfers to Stage 2 | (27,598) | (15,952) | |
Transfers to Stage 3 | (10,620) | (6,603) | |
Impact on the expected credit loss for credits that change stage in the year | [2] | (1,988) | (31,403) |
Others | [3] | 23,154 | (57,822) |
Total | 6,329 | (56,118) | |
Write-offs | |||
Recovery of written–off loans | |||
Foreign exchange effect | (192) | 718 | |
End of year balances | 51,611 | 45,474 | |
Commercial loans [member] | Stage 2 [member] | |||
Disclosure of financial assets [line items] | |||
Beginning of year balances, Loans | 1,714,493 | ||
End of year balances, Loans | 2,548,359 | 1,714,493 | |
Beginning of year balances | 47,311 | 60,100 | |
New originated or purchased assets | |||
Assets derecognized or matured (excluding write-offs) | (10,113) | (37,865) | |
Transfers to Stage 1 | (2,687) | (40,152) | |
Transfers to Stage 2 | 30,826 | 16,311 | |
Transfers to Stage 3 | (16,046) | (48,516) | |
Impact on the expected credit loss for credits that change stage in the year | [2] | 7,333 | 4,752 |
Others | [3] | 8,006 | 91,880 |
Total | 17,319 | (13,590) | |
Write-offs | |||
Recovery of written–off loans | |||
Foreign exchange effect | (160) | 801 | |
End of year balances | 64,470 | 47,311 | |
Commercial loans [member] | Stage 3 [member] | |||
Disclosure of financial assets [line items] | |||
Beginning of year balances, Loans | 408,104 | ||
End of year balances, Loans | 398,159 | 408,104 | |
Beginning of year balances | 154,299 | 182,467 | |
New originated or purchased assets | |||
Assets derecognized or matured (excluding write-offs) | (2,924) | (92,529) | |
Transfers to Stage 1 | (233) | (988) | |
Transfers to Stage 2 | (3,228) | (359) | |
Transfers to Stage 3 | 26,666 | 55,119 | |
Impact on the expected credit loss for credits that change stage in the year | [2] | 40,748 | 16,864 |
Others | [3] | 6,579 | 63,218 |
Total | 67,608 | 41,325 | |
Write-offs | (62,960) | (68,362) | |
Recovery of written–off loans | 5,189 | 5,942 | |
Foreign exchange effect | (1,751) | (7,073) | |
End of year balances | 162,385 | 154,299 | |
Consumer loans [member] | |||
Disclosure of financial assets [line items] | |||
Beginning of year balances, Loans | 14,967,799 | ||
End of year balances, Loans | 16,325,460 | 14,967,799 | |
Beginning of year balances | 1,622,381 | 1,401,681 | |
New originated or purchased assets | 552,847 | 438,109 | |
Assets derecognized or matured (excluding write-offs) | (163,883) | (386,494) | |
Transfers to Stage 1 | |||
Transfers to Stage 2 | |||
Transfers to Stage 3 | |||
Impact on the expected credit loss for credits that change stage in the year | [2] | 1,403,885 | 422,247 |
Others | [3] | (28,733) | 493,030 |
Total | 1,764,116 | 966,892 | |
Write-offs | (1,647,576) | (886,200) | |
Recovery of written–off loans | 123,679 | 140,438 | |
Foreign exchange effect | (216) | (430) | |
End of year balances | 1,862,384 | 1,622,381 | |
Consumer loans [member] | Stage 1 [member] | |||
Disclosure of financial assets [line items] | |||
Beginning of year balances, Loans | 12,685,924 | ||
End of year balances, Loans | 13,355,812 | 12,685,924 | |
Beginning of year balances | 534,005 | 802,421 | |
New originated or purchased assets | 552,847 | 438,109 | |
Assets derecognized or matured (excluding write-offs) | (98,984) | (141,201) | |
Transfers to Stage 1 | 95,173 | 44,453 | |
Transfers to Stage 2 | (282,373) | (229,316) | |
Transfers to Stage 3 | (135,476) | (59,129) | |
Impact on the expected credit loss for credits that change stage in the year | [2] | (81,051) | (35,112) |
Others | [3] | (117,534) | (286,212) |
Total | (67,398) | (268,408) | |
Write-offs | |||
Recovery of written–off loans | |||
Foreign exchange effect | (1) | (8) | |
End of year balances | 466,606 | 534,005 | |
Consumer loans [member] | Stage 2 [member] | |||
Disclosure of financial assets [line items] | |||
Beginning of year balances, Loans | 1,829,574 | ||
End of year balances, Loans | 2,236,552 | 1,829,574 | |
Beginning of year balances | 657,474 | 263,219 | |
New originated or purchased assets | |||
Assets derecognized or matured (excluding write-offs) | (54,036) | (144,553) | |
Transfers to Stage 1 | (93,918) | (43,487) | |
Transfers to Stage 2 | 287,164 | 234,062 | |
Transfers to Stage 3 | (231,432) | (13,433) | |
Impact on the expected credit loss for credits that change stage in the year | [2] | 221,421 | 163,681 |
Others | [3] | (73,259) | 198,393 |
Total | 55,940 | 394,663 | |
Write-offs | |||
Recovery of written–off loans | |||
Foreign exchange effect | (53) | (408) | |
End of year balances | 713,361 | 657,474 | |
Consumer loans [member] | Stage 3 [member] | |||
Disclosure of financial assets [line items] | |||
Beginning of year balances, Loans | 452,301 | ||
End of year balances, Loans | 733,096 | 452,301 | |
Beginning of year balances | 430,902 | 336,041 | |
New originated or purchased assets | |||
Assets derecognized or matured (excluding write-offs) | (10,863) | (100,740) | |
Transfers to Stage 1 | (1,255) | (966) | |
Transfers to Stage 2 | (4,791) | (4,746) | |
Transfers to Stage 3 | 366,908 | 72,562 | |
Impact on the expected credit loss for credits that change stage in the year | [2] | 1,263,515 | 293,678 |
Others | [3] | 162,060 | 580,849 |
Total | 1,775,574 | 840,637 | |
Write-offs | (1,647,576) | (886,200) | |
Recovery of written–off loans | 123,679 | 140,438 | |
Foreign exchange effect | (162) | (14) | |
End of year balances | 682,417 | 430,902 | |
Mortgage loans [member] | |||
Disclosure of financial assets [line items] | |||
Beginning of year balances, Loans | 9,286,944 | ||
End of year balances, Loans | 9,834,398 | 9,286,944 | |
Beginning of year balances | 61,622 | 155,200 | |
New originated or purchased assets | 3,949 | 1,473 | |
Assets derecognized or matured (excluding write-offs) | (11,639) | (12,155) | |
Transfers to Stage 1 | |||
Transfers to Stage 2 | |||
Transfers to Stage 3 | |||
Impact on the expected credit loss for credits that change stage in the year | [2] | 31,022 | 9,989 |
Others | [3] | 6,370 | (89,448) |
Total | 29,702 | (90,141) | |
Write-offs | (3,580) | (2,267) | |
Recovery of written–off loans | |||
Foreign exchange effect | (546) | (1,170) | |
End of year balances | 87,198 | 61,622 | |
Mortgage loans [member] | Stage 1 [member] | |||
Disclosure of financial assets [line items] | |||
Beginning of year balances, Loans | 8,698,789 | ||
End of year balances, Loans | 8,981,439 | 8,698,789 | |
Beginning of year balances | 4,236 | 12,669 | |
New originated or purchased assets | 3,949 | 1,473 | |
Assets derecognized or matured (excluding write-offs) | (181) | (435) | |
Transfers to Stage 1 | 6,414 | 6,103 | |
Transfers to Stage 2 | (2,052) | (778) | |
Transfers to Stage 3 | (1,915) | (467) | |
Impact on the expected credit loss for credits that change stage in the year | [2] | (5,956) | (5,871) |
Others | [3] | 2,312 | (8,663) |
Total | 2,571 | (8,638) | |
Write-offs | |||
Recovery of written–off loans | |||
Foreign exchange effect | (13) | 205 | |
End of year balances | 6,794 | 4,236 | |
Mortgage loans [member] | Stage 2 [member] | |||
Disclosure of financial assets [line items] | |||
Beginning of year balances, Loans | 349,628 | ||
End of year balances, Loans | 579,554 | 349,628 | |
Beginning of year balances | 12,285 | 42,681 | |
New originated or purchased assets | |||
Assets derecognized or matured (excluding write-offs) | (833) | (763) | |
Transfers to Stage 1 | (6,414) | (6,103) | |
Transfers to Stage 2 | 5,115 | 4,871 | |
Transfers to Stage 3 | (2,423) | (1,254) | |
Impact on the expected credit loss for credits that change stage in the year | [2] | 15,996 | 4,342 |
Others | [3] | 2,040 | (31,688) |
Total | 13,481 | (30,595) | |
Write-offs | |||
Recovery of written–off loans | |||
Foreign exchange effect | (13) | 199 | |
End of year balances | 25,753 | 12,285 | |
Mortgage loans [member] | Stage 3 [member] | |||
Disclosure of financial assets [line items] | |||
Beginning of year balances, Loans | 238,527 | ||
End of year balances, Loans | 273,405 | 238,527 | |
Beginning of year balances | 45,101 | 99,850 | |
New originated or purchased assets | |||
Assets derecognized or matured (excluding write-offs) | (10,625) | (10,957) | |
Transfers to Stage 1 | |||
Transfers to Stage 2 | (3,063) | (4,093) | |
Transfers to Stage 3 | 4,338 | 1,721 | |
Impact on the expected credit loss for credits that change stage in the year | [2] | 20,982 | 11,518 |
Others | [3] | 2,018 | (49,097) |
Total | 13,650 | (50,908) | |
Write-offs | (3,580) | (2,267) | |
Recovery of written–off loans | |||
Foreign exchange effect | (520) | (1,574) | |
End of year balances | 54,651 | 45,101 | |
Small and micro-business loans [member] | |||
Disclosure of financial assets [line items] | |||
Beginning of year balances, Loans | 1,358,481 | ||
End of year balances, Loans | 933,824 | 1,358,481 | |
Beginning of year balances | 96,768 | 164,595 | |
New originated or purchased assets | 20,559 | 30,366 | |
Assets derecognized or matured (excluding write-offs) | (23,633) | (165,816) | |
Transfers to Stage 1 | |||
Transfers to Stage 2 | |||
Transfers to Stage 3 | |||
Impact on the expected credit loss for credits that change stage in the year | [2] | 94,906 | (35,177) |
Others | [3] | 22,325 | 158,816 |
Total | 114,157 | (11,811) | |
Write-offs | (99,554) | (64,710) | |
Recovery of written–off loans | 10,018 | 8,690 | |
Foreign exchange effect | (12) | 4 | |
End of year balances | 121,377 | 96,768 | |
Small and micro-business loans [member] | Stage 1 [member] | |||
Disclosure of financial assets [line items] | |||
Beginning of year balances, Loans | 1,123,813 | ||
End of year balances, Loans | 701,801 | 1,123,813 | |
Beginning of year balances | 24,843 | 40,492 | |
New originated or purchased assets | 20,559 | 30,366 | |
Assets derecognized or matured (excluding write-offs) | (21,253) | (13,252) | |
Transfers to Stage 1 | 2,238 | 75,059 | |
Transfers to Stage 2 | (15,705) | (13,180) | |
Transfers to Stage 3 | (15,145) | (7,979) | |
Impact on the expected credit loss for credits that change stage in the year | [2] | (1,599) | (57,002) |
Others | [3] | 26,293 | (29,658) |
Total | (4,612) | (15,646) | |
Write-offs | |||
Recovery of written–off loans | |||
Foreign exchange effect | (3) | ||
End of year balances | 20,231 | 24,843 | |
Small and micro-business loans [member] | Stage 2 [member] | |||
Disclosure of financial assets [line items] | |||
Beginning of year balances, Loans | 143,473 | ||
End of year balances, Loans | 125,995 | 143,473 | |
Beginning of year balances | 20,216 | 38,881 | |
New originated or purchased assets | |||
Assets derecognized or matured (excluding write-offs) | (1,347) | (53,929) | |
Transfers to Stage 1 | (1,920) | (73,348) | |
Transfers to Stage 2 | 15,946 | 13,456 | |
Transfers to Stage 3 | (19,980) | (25,348) | |
Impact on the expected credit loss for credits that change stage in the year | [2] | 14,559 | 3,641 |
Others | [3] | 2,855 | 116,863 |
Total | 10,113 | (18,665) | |
Write-offs | |||
Recovery of written–off loans | |||
Foreign exchange effect | (1) | 0 | |
End of year balances | 30,328 | 20,216 | |
Small and micro-business loans [member] | Stage 3 [member] | |||
Disclosure of financial assets [line items] | |||
Beginning of year balances, Loans | 91,195 | ||
End of year balances, Loans | 106,028 | 91,195 | |
Beginning of year balances | 51,709 | 85,222 | |
New originated or purchased assets | |||
Assets derecognized or matured (excluding write-offs) | (1,033) | (98,635) | |
Transfers to Stage 1 | (318) | (1,711) | |
Transfers to Stage 2 | (241) | (276) | |
Transfers to Stage 3 | 35,125 | 33,327 | |
Impact on the expected credit loss for credits that change stage in the year | [2] | 81,946 | 18,184 |
Others | [3] | (6,823) | 71,611 |
Total | 108,656 | 22,500 | |
Write-offs | (99,554) | (64,710) | |
Recovery of written–off loans | 10,018 | 8,690 | |
Foreign exchange effect | (11) | 7 | |
End of year balances | 70,818 | 51,709 | |
Line Of Credit Facilities [Member] | |||
Disclosure of financial assets [line items] | |||
Beginning of year balances, Loans | 4,487,347 | 4,440,458 | |
New originated or purchased assets | 2,122,067 | 1,829,985 | |
Assets derecognized or matured (excluding write-offs) | (1,743,365) | (1,649,121) | |
Transfers to Stage 1 | |||
Transfers to Stage 2 | |||
Transfers to Stage 3 | |||
Others | [1] | (81,020) | (32,891) |
Foreign exchange effect | (41,549) | (101,084) | |
End of year balances, Loans | 4,743,480 | 4,487,347 | |
Beginning of year balances | 35,495 | 40,329 | |
New originated or purchased assets | 4,770 | 5,615 | |
Assets derecognized or matured (excluding write-offs) | (6,824) | (13,095) | |
Transfers to Stage 1 | |||
Transfers to Stage 2 | |||
Transfers to Stage 3 | |||
Impact on the expected credit loss for credits that change stage in the year | (210) | 1,161 | |
Others | [3] | (15,149) | 313 |
Total | (17,413) | (6,006) | |
Foreign exchange effect | (150) | 1,172 | |
End of year balances | 17,932 | 35,495 | |
Line Of Credit Facilities [Member] | Stage 1 [member] | |||
Disclosure of financial assets [line items] | |||
Beginning of year balances, Loans | 3,959,441 | 3,984,362 | |
New originated or purchased assets | 2,122,067 | 1,829,985 | |
Assets derecognized or matured (excluding write-offs) | (1,606,539) | (1,470,891) | |
Transfers to Stage 1 | 30,259 | 25,315 | |
Transfers to Stage 2 | (392,176) | (258,992) | |
Transfers to Stage 3 | (12) | (633) | |
Others | [1] | (54,162) | (58,323) |
Foreign exchange effect | (34,623) | (91,382) | |
End of year balances, Loans | 4,024,255 | 3,959,441 | |
Beginning of year balances | 8,354 | 8,594 | |
New originated or purchased assets | 4,770 | 5,615 | |
Assets derecognized or matured (excluding write-offs) | (1,988) | (4,838) | |
Transfers to Stage 1 | 180 | 109 | |
Transfers to Stage 2 | (1,986) | (854) | |
Transfers to Stage 3 | (1) | (57) | |
Impact on the expected credit loss for credits that change stage in the year | (57) | (47) | |
Others | [3] | (2,521) | (274) |
Total | (1,603) | (346) | |
Foreign exchange effect | (127) | 106 | |
End of year balances | 6,624 | 8,354 | |
Line Of Credit Facilities [Member] | Stage 2 [member] | |||
Disclosure of financial assets [line items] | |||
Beginning of year balances, Loans | 501,830 | 431,039 | |
New originated or purchased assets | |||
Assets derecognized or matured (excluding write-offs) | (135,042) | (168,603) | |
Transfers to Stage 1 | (30,259) | (25,315) | |
Transfers to Stage 2 | 407,454 | 258,992 | |
Transfers to Stage 3 | (6,687) | (10,035) | |
Others | [1] | (26,950) | 25,454 |
Foreign exchange effect | (6,921) | (9,702) | |
End of year balances, Loans | 703,425 | 501,830 | |
Beginning of year balances | 18,205 | 18,492 | |
New originated or purchased assets | |||
Assets derecognized or matured (excluding write-offs) | (4,205) | (2,016) | |
Transfers to Stage 1 | (180) | (109) | |
Transfers to Stage 2 | 3,626 | 854 | |
Transfers to Stage 3 | (50) | (171) | |
Impact on the expected credit loss for credits that change stage in the year | (837) | 585 | |
Others | [3] | (12,600) | (467) |
Total | (14,246) | (1,324) | |
Foreign exchange effect | (20) | 1,037 | |
End of year balances | 3,939 | 18,205 | |
Line Of Credit Facilities [Member] | Stage 3 [member] | |||
Disclosure of financial assets [line items] | |||
Beginning of year balances, Loans | 26,076 | 25,057 | |
New originated or purchased assets | |||
Assets derecognized or matured (excluding write-offs) | (1,784) | (9,627) | |
Transfers to Stage 1 | 0 | ||
Transfers to Stage 2 | (15,278) | ||
Transfers to Stage 3 | 6,699 | 10,668 | |
Others | [1] | 92 | (22) |
Foreign exchange effect | (5) | 0 | |
End of year balances, Loans | 15,800 | 26,076 | |
Beginning of year balances | 8,936 | 13,243 | |
New originated or purchased assets | |||
Assets derecognized or matured (excluding write-offs) | (631) | (6,241) | |
Transfers to Stage 1 | 0 | 0 | |
Transfers to Stage 2 | (1,640) | ||
Transfers to Stage 3 | 51 | 228 | |
Impact on the expected credit loss for credits that change stage in the year | 684 | 623 | |
Others | [3] | (28) | 1,054 |
Total | (1,564) | (4,336) | |
Foreign exchange effect | (3) | 29 | |
End of year balances | S/ 7,369 | S/ 8,936 | |
[1]Corresponds mainly to: (i) the variation between the amortized cost of the loan at the beginning of the year and its amortized cost at the end of the year (partial amortizations that did not represent a reduction or derecognized of the loan), and (ii) the execution of contingent loans (conversion of indirect debt into direct debt).[2]The Group applied its expert judgement with the purpose of reflecting the effects of the possible impact of the El Niño event during 2023, and the political and economic uncertainty during 2022, that were not considered in the forward-looking model, that led to incur in a higher provision for expected loss, see Note 29.1(d.7).[3]Corresponds mainly to: (i) the variation between the amortized cost of the loan at the beginning of the year and its amortized cost at the end of the year (variation in the provision recorded for partial amortizations that did not represent a reduction or derecognized of the loan), (ii) variations in credit risk that did not generate transfers to other stages; and (iii) the execution of contingent loans (conversion of indirect debt into direct debt). |
Loans, net - Additional informa
Loans, net - Additional information (Detail) - PEN (S/) | 6 Months Ended | 12 Months Ended | |||||
Apr. 30, 2024 | Apr. 30, 2023 | Dec. 31, 2023 | Dec. 31, 2022 | Jan. 01, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of financial assets [line items] | |||||||
Loans refinanced | S/ 132,172,000 | S/ 192,045,000 | |||||
Loan held for managing liquidity risk | 3,513,905,000 | 5,048,978,000 | S/ 12,663,960,000 | ||||
Loans and receivables | 46,520,382,000 | 45,502,998,000 | S/ 43,005,583,000 | ||||
Borrowings | 5,551,629,000 | 7,906,303,000 | |||||
Interbank [member] | |||||||
Disclosure of financial assets [line items] | |||||||
Balance of credits rescheduled social conflicts and others | 1,979,342,000 | ||||||
National Currency [Member] | |||||||
Disclosure of financial assets [line items] | |||||||
Maximum interest rate percentage | 87.91% | ||||||
Foreign currency [Member] | |||||||
Disclosure of financial assets [line items] | |||||||
Maximum interest rate percentage | 68.27% | ||||||
Event After Reporting Period [Member] | National Currency [Member] | |||||||
Disclosure of financial assets [line items] | |||||||
Maximum interest rate percentage | 101.86% | ||||||
Event After Reporting Period [Member] | Foreign currency [Member] | |||||||
Disclosure of financial assets [line items] | |||||||
Maximum interest rate percentage | 82.94% | ||||||
Reactiva Peru Program [Member] | |||||||
Disclosure of financial assets [line items] | |||||||
Loan held for managing liquidity risk | 25,928,000 | 133,046,000 | S/ 2,012,855,000 | ||||
Borrowings | 730,508,000 | 1,473,770,000 | |||||
Loans [Member] | securities [Member] | |||||||
Disclosure of financial assets [line items] | |||||||
Loans and receivables | 504,158,000 | 1,909,375,000 | |||||
Credit card [Member] | Non revolving consumer loans [Member] | |||||||
Disclosure of financial assets [line items] | |||||||
Loans and receivables | S/ 3,149,149,000 | S/ 3,225,874,000 |
Loans, net - Summary of portfol
Loans, net - Summary of portfolio classified by maturity dates (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 | Jan. 01, 2022 |
Disclosure of provision matrix [line items] | |||
Direct loans | S/ 46,520,382 | S/ 45,502,998 | S/ 43,005,583 |
Past due and under legal collection loans [member] | |||
Disclosure of provision matrix [line items] | |||
Direct loans | 48,249,158 | 47,025,350 | |
Commercial loans [member] | |||
Disclosure of provision matrix [line items] | |||
Direct loans | 470,242 | 502,474 | |
Consumer loans [member] | |||
Disclosure of provision matrix [line items] | |||
Direct loans | 764,408 | 472,255 | |
Mortgage loans [member] | |||
Disclosure of provision matrix [line items] | |||
Direct loans | 270,520 | 234,387 | |
Small and micro-business loans [member] | |||
Disclosure of provision matrix [line items] | |||
Direct loans | 146,981 | 156,856 | |
Up to 4 months [member] | Past due and under legal collection loans [member] | |||
Disclosure of provision matrix [line items] | |||
Direct loans | 484,808 | 423,906 | |
Up to 4 months [member] | Commercial loans [member] | |||
Disclosure of provision matrix [line items] | |||
Direct loans | 98,263 | 150,607 | |
Up to 4 months [member] | Consumer loans [member] | |||
Disclosure of provision matrix [line items] | |||
Direct loans | 284,954 | 143,867 | |
Up to 4 months [member] | Mortgage loans [member] | |||
Disclosure of provision matrix [line items] | |||
Direct loans | 35,934 | 30,484 | |
Up to 4 months [member] | Small and micro-business loans [member] | |||
Disclosure of provision matrix [line items] | |||
Direct loans | 65,657 | 98,948 | |
Over 4 months [member] | Past due and under legal collection loans [member] | |||
Disclosure of provision matrix [line items] | |||
Direct loans | 697,246 | 401,508 | |
Over 4 months [member] | Commercial loans [member] | |||
Disclosure of provision matrix [line items] | |||
Direct loans | 143,170 | 106,081 | |
Over 4 months [member] | Consumer loans [member] | |||
Disclosure of provision matrix [line items] | |||
Direct loans | 401,164 | 220,226 | |
Over 4 months [member] | Mortgage loans [member] | |||
Disclosure of provision matrix [line items] | |||
Direct loans | 94,568 | 48,316 | |
Over 4 months [member] | Small and micro-business loans [member] | |||
Disclosure of provision matrix [line items] | |||
Direct loans | 58,344 | 26,885 | |
Under legal collection [member] | Past due and under legal collection loans [member] | |||
Disclosure of provision matrix [line items] | |||
Direct loans | 470,097 | 540,558 | |
Under legal collection [member] | Commercial loans [member] | |||
Disclosure of provision matrix [line items] | |||
Direct loans | 228,809 | 245,786 | |
Under legal collection [member] | Consumer loans [member] | |||
Disclosure of provision matrix [line items] | |||
Direct loans | 78,290 | 108,162 | |
Under legal collection [member] | Mortgage loans [member] | |||
Disclosure of provision matrix [line items] | |||
Direct loans | 140,018 | 155,587 | |
Under legal collection [member] | Small and micro-business loans [member] | |||
Disclosure of provision matrix [line items] | |||
Direct loans | 22,980 | 31,023 | |
Gross carrying amount [member] | |||
Disclosure of provision matrix [line items] | |||
Direct loans | 46,597,007 | 45,659,378 | |
Gross carrying amount [member] | Up to 1 month [member] | |||
Disclosure of provision matrix [line items] | |||
Direct loans | 4,461,634 | 4,945,881 | |
Gross carrying amount [member] | From 1 to 3 months [member] | |||
Disclosure of provision matrix [line items] | |||
Direct loans | 5,781,509 | 5,708,262 | |
Gross carrying amount [member] | From 3 months to 1 year [member] | |||
Disclosure of provision matrix [line items] | |||
Direct loans | 10,831,137 | 10,220,204 | |
Gross carrying amount [member] | From 1 to 5 years [member] | |||
Disclosure of provision matrix [line items] | |||
Direct loans | 19,500,481 | 18,916,603 | |
Gross carrying amount [member] | Over 5 years [member] | |||
Disclosure of provision matrix [line items] | |||
Direct loans | S/ 6,022,246 | S/ 5,868,428 |
Loans, net - Disclosure Of Matu
Loans, net - Disclosure Of Maturity Analysis For Financial Liabilities (Detail) - Gross carrying amount [member] - PEN (S/) S/ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items] | ||
Gross amount | S/ 7,720,373 | S/ 5,755,201 |
Expected loss | 1,815,491 | 1,446,438 |
30 days | ||
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items] | ||
Gross amount | 5,400,087 | 3,934,328 |
Expected loss | 609,406 | 595,372 |
90 days | ||
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items] | ||
Gross amount | 16,219 | 1,816 |
Expected loss | 14,888 | 1,583 |
30 days | ||
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items] | ||
Gross amount | 793,798 | 604,670 |
Expected loss | 228,445 | 160,119 |
90 days | ||
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items] | ||
Gross amount | 1,510,269 | 1,214,387 |
Expected loss | 962,752 | 689,364 |
Commercial loans [member] | ||
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items] | ||
Gross amount | 3,665,743 | 2,650,503 |
Expected loss | 238,163 | 228,751 |
Commercial loans [member] | 30 days | ||
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items] | ||
Gross amount | 3,155,267 | 2,089,059 |
Expected loss | 60,877 | 60,403 |
Commercial loans [member] | 90 days | ||
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items] | ||
Gross amount | 2,686 | 250 |
Expected loss | 2,259 | 214 |
Commercial loans [member] | 30 days | ||
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items] | ||
Gross amount | 96,517 | 127,264 |
Expected loss | 7,532 | 5,113 |
Commercial loans [member] | 90 days | ||
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items] | ||
Gross amount | 411,273 | 433,930 |
Expected loss | 167,495 | 163,021 |
Consumer loans [member] | ||
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items] | ||
Gross amount | 2,969,648 | 2,281,875 |
Expected loss | 1,395,778 | 1,088,376 |
Consumer loans [member] | 30 days | ||
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items] | ||
Gross amount | 1,700,558 | 1,500,325 |
Expected loss | 508,045 | 511,105 |
Consumer loans [member] | 90 days | ||
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items] | ||
Gross amount | 10,295 | 1,356 |
Expected loss | 9,883 | 1,194 |
Consumer loans [member] | 30 days | ||
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items] | ||
Gross amount | 535,994 | 329,249 |
Expected loss | 205,316 | 146,369 |
Consumer loans [member] | 90 days | ||
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items] | ||
Gross amount | 722,801 | 450,945 |
Expected loss | 672,534 | 429,708 |
Mortgages loans [member] | ||
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items] | ||
Gross amount | 852,959 | 588,155 |
Expected loss | 80,404 | 57,386 |
Mortgages loans [member] | 30 days | ||
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items] | ||
Gross amount | 463,168 | 271,622 |
Expected loss | 20,311 | 9,266 |
Mortgages loans [member] | 90 days | ||
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items] | ||
Gross amount | 546 | 0 |
Expected loss | 109 | 0 |
Mortgages loans [member] | 30 days | ||
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items] | ||
Gross amount | 116,386 | 78,006 |
Expected loss | 5,442 | 3,019 |
Mortgages loans [member] | 90 days | ||
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items] | ||
Gross amount | 272,859 | 238,527 |
Expected loss | 54,542 | 45,101 |
Small and micro-business loans [member] | ||
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items] | ||
Gross amount | 232,023 | 234,668 |
Expected loss | 101,146 | 71,925 |
Small and micro-business loans [member] | 30 days | ||
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items] | ||
Gross amount | 81,094 | 73,322 |
Expected loss | 20,173 | 14,598 |
Small and micro-business loans [member] | 90 days | ||
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items] | ||
Gross amount | 2,692 | 210 |
Expected loss | 2,637 | 175 |
Small and micro-business loans [member] | 30 days | ||
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items] | ||
Gross amount | 44,901 | 70,151 |
Expected loss | 10,155 | 5,618 |
Small and micro-business loans [member] | 90 days | ||
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items] | ||
Gross amount | 103,336 | 90,985 |
Expected loss | 68,181 | 51,534 |
Stage 2 [member] | ||
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items] | ||
Gross amount | 6,193,885 | 4,538,998 |
Expected loss | 837,851 | 755,491 |
Stage 2 [member] | 30 days | ||
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items] | ||
Gross amount | 5,400,087 | 3,934,328 |
Expected loss | 609,406 | 595,372 |
Stage 2 [member] | 30 days | ||
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items] | ||
Gross amount | 793,798 | 604,670 |
Expected loss | 228,445 | 160,119 |
Stage 2 [member] | Commercial loans [member] | ||
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items] | ||
Gross amount | 3,251,784 | 2,216,323 |
Expected loss | 68,409 | 65,516 |
Stage 2 [member] | Commercial loans [member] | 30 days | ||
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items] | ||
Gross amount | 3,155,267 | 2,089,059 |
Expected loss | 60,877 | 60,403 |
Stage 2 [member] | Commercial loans [member] | 30 days | ||
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items] | ||
Gross amount | 96,517 | 127,264 |
Expected loss | 7,532 | 5,113 |
Stage 2 [member] | Consumer loans [member] | ||
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items] | ||
Gross amount | 2,236,552 | 1,829,574 |
Expected loss | 713,361 | 657,474 |
Stage 2 [member] | Consumer loans [member] | 30 days | ||
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items] | ||
Gross amount | 1,700,558 | 1,500,325 |
Expected loss | 508,045 | 511,105 |
Stage 2 [member] | Consumer loans [member] | 30 days | ||
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items] | ||
Gross amount | 535,994 | 329,249 |
Expected loss | 205,316 | 146,369 |
Stage 2 [member] | Mortgages loans [member] | ||
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items] | ||
Gross amount | 579,554 | 349,628 |
Expected loss | 25,753 | 12,285 |
Stage 2 [member] | Mortgages loans [member] | 30 days | ||
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items] | ||
Gross amount | 463,168 | 271,622 |
Expected loss | 20,311 | 9,266 |
Stage 2 [member] | Mortgages loans [member] | 30 days | ||
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items] | ||
Gross amount | 116,386 | 78,006 |
Expected loss | 5,442 | 3,019 |
Stage 2 [member] | Small and micro-business loans [member] | ||
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items] | ||
Gross amount | 125,995 | 143,473 |
Expected loss | 30,328 | 20,216 |
Stage 2 [member] | Small and micro-business loans [member] | 30 days | ||
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items] | ||
Gross amount | 81,094 | 73,322 |
Expected loss | 20,173 | 14,598 |
Stage 2 [member] | Small and micro-business loans [member] | 30 days | ||
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items] | ||
Gross amount | 44,901 | 70,151 |
Expected loss | 10,155 | 5,618 |
Stage 3 [member] | ||
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items] | ||
Gross amount | 1,526,488 | 1,216,203 |
Expected loss | 977,640 | 690,947 |
Stage 3 [member] | 90 days | ||
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items] | ||
Gross amount | 16,219 | 1,816 |
Expected loss | 14,888 | 1,583 |
Stage 3 [member] | 90 days | ||
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items] | ||
Gross amount | 1,510,269 | 1,214,387 |
Expected loss | 962,752 | 689,364 |
Stage 3 [member] | Commercial loans [member] | ||
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items] | ||
Gross amount | 413,959 | 434,180 |
Expected loss | 169,754 | 163,235 |
Stage 3 [member] | Commercial loans [member] | 90 days | ||
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items] | ||
Gross amount | 2,686 | 250 |
Expected loss | 2,259 | 214 |
Stage 3 [member] | Commercial loans [member] | 90 days | ||
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items] | ||
Gross amount | 411,273 | 433,930 |
Expected loss | 167,495 | 163,021 |
Stage 3 [member] | Consumer loans [member] | ||
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items] | ||
Gross amount | 733,096 | 452,301 |
Expected loss | 682,417 | 430,902 |
Stage 3 [member] | Consumer loans [member] | 90 days | ||
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items] | ||
Gross amount | 10,295 | 1,356 |
Expected loss | 9,883 | 1,194 |
Stage 3 [member] | Consumer loans [member] | 90 days | ||
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items] | ||
Gross amount | 722,801 | 450,945 |
Expected loss | 672,534 | 429,708 |
Stage 3 [member] | Mortgages loans [member] | ||
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items] | ||
Gross amount | 273,405 | 238,527 |
Expected loss | 54,651 | 45,101 |
Stage 3 [member] | Mortgages loans [member] | 90 days | ||
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items] | ||
Gross amount | 546 | 0 |
Expected loss | 109 | |
Stage 3 [member] | Mortgages loans [member] | 90 days | ||
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items] | ||
Gross amount | 272,859 | 238,527 |
Expected loss | 54,542 | 45,101 |
Stage 3 [member] | Small and micro-business loans [member] | ||
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items] | ||
Gross amount | 106,028 | 91,195 |
Expected loss | 70,818 | 51,709 |
Stage 3 [member] | Small and micro-business loans [member] | 90 days | ||
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items] | ||
Gross amount | 2,692 | 210 |
Expected loss | 2,637 | 175 |
Stage 3 [member] | Small and micro-business loans [member] | 90 days | ||
Disclosure Of Maturity Analysis For Financial Liabilities [Line Items] | ||
Gross amount | 103,336 | 90,985 |
Expected loss | S/ 68,181 | S/ 51,534 |
Loans, net - Summary of Expecte
Loans, net - Summary of Expected Credit Losses by Economic Sector for Direct Loans (Detail) - Direct Loans [Member] - PEN (S/) S/ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of Expected Credit Losses by Economic Sector for Direct Loans [Line Items] | ||
Carrying amount | S/ 48,249,158 | S/ 47,025,350 |
Expected credit loss | S/ 2,349,425 | S/ 2,027,855 |
Percentage expected credit loss | 4.90% | 4.30% |
Consumer Loan [Member] | ||
Disclosure of Expected Credit Losses by Economic Sector for Direct Loans [Line Items] | ||
Carrying amount | S/ 16,325,460 | S/ 14,967,799 |
Expected credit loss | S/ 1,862,384 | S/ 1,622,381 |
Percentage expected credit loss | 11.40% | 10.80% |
Mortgage Loans [Member] | ||
Disclosure of Expected Credit Losses by Economic Sector for Direct Loans [Line Items] | ||
Carrying amount | S/ 9,834,398 | S/ 9,286,944 |
Expected credit loss | S/ 87,198 | S/ 61,622 |
Percentage expected credit loss | 0.90% | 0.70% |
Commerce [Member] | ||
Disclosure of Expected Credit Losses by Economic Sector for Direct Loans [Line Items] | ||
Carrying amount | S/ 3,788,434 | S/ 4,412,994 |
Expected credit loss | S/ 149,776 | S/ 138,881 |
Percentage expected credit loss | 4% | 3.10% |
Manufacturing [Member] | ||
Disclosure of Expected Credit Losses by Economic Sector for Direct Loans [Line Items] | ||
Carrying amount | S/ 4,844,888 | S/ 4,861,041 |
Expected credit loss | S/ 50,130 | S/ 42,403 |
Percentage expected credit loss | 1% | 0.90% |
Professional Scientific and Technical Activities [Member] | ||
Disclosure of Expected Credit Losses by Economic Sector for Direct Loans [Line Items] | ||
Carrying amount | S/ 4,358,973 | S/ 3,892,573 |
Expected credit loss | S/ 71,097 | S/ 48,739 |
Percentage expected credit loss | 1.60% | 1.30% |
Communications Storage And Transportation [Member] | ||
Disclosure of Expected Credit Losses by Economic Sector for Direct Loans [Line Items] | ||
Carrying amount | S/ 1,241,215 | S/ 1,373,255 |
Expected credit loss | S/ 40,269 | S/ 37,727 |
Percentage expected credit loss | 3.20% | 2.70% |
Agriculture [Member] | ||
Disclosure of Expected Credit Losses by Economic Sector for Direct Loans [Line Items] | ||
Carrying amount | S/ 1,894,430 | S/ 1,892,567 |
Expected credit loss | S/ 6,695 | S/ 3,739 |
Percentage expected credit loss | 0.40% | 0.20% |
Electricity Gas Water And Oil [Member] | ||
Disclosure of Expected Credit Losses by Economic Sector for Direct Loans [Line Items] | ||
Carrying amount | S/ 936,835 | S/ 924,270 |
Expected credit loss | S/ 2,897 | S/ 1,568 |
Percentage expected credit loss | 0.30% | 0.20% |
Leaseholds and Real Estate Activities [Member] | ||
Disclosure of Expected Credit Losses by Economic Sector for Direct Loans [Line Items] | ||
Carrying amount | S/ 590,501 | S/ 606,882 |
Expected credit loss | S/ 25,537 | S/ 17,938 |
Percentage expected credit loss | 4.30% | 3% |
Construction And Infrastructure [Member] | ||
Disclosure of Expected Credit Losses by Economic Sector for Direct Loans [Line Items] | ||
Carrying amount | S/ 559,070 | S/ 557,473 |
Expected credit loss | S/ 30,067 | S/ 35,890 |
Percentage expected credit loss | 5.40% | 6.40% |
Others [Member] | ||
Disclosure of Expected Credit Losses by Economic Sector for Direct Loans [Line Items] | ||
Carrying amount | S/ 3,874,954 | S/ 4,249,552 |
Expected credit loss | S/ 23,375 | S/ 16,967 |
Percentage expected credit loss | 0.60% | 0.40% |
Stage 1 [member] | ||
Disclosure of Expected Credit Losses by Economic Sector for Direct Loans [Line Items] | ||
Carrying amount | S/ 41,248,010 | S/ 41,798,055 |
Expected credit loss | S/ 545,242 | S/ 608,558 |
Percentage expected credit loss | 1.30% | 1.50% |
Stage 1 [member] | Consumer Loan [Member] | ||
Disclosure of Expected Credit Losses by Economic Sector for Direct Loans [Line Items] | ||
Carrying amount | S/ 13,355,812 | S/ 12,685,924 |
Expected credit loss | S/ 466,606 | S/ 534,005 |
Percentage expected credit loss | 3.50% | 4.20% |
Stage 1 [member] | Mortgage Loans [Member] | ||
Disclosure of Expected Credit Losses by Economic Sector for Direct Loans [Line Items] | ||
Carrying amount | S/ 8,981,439 | S/ 8,698,789 |
Expected credit loss | S/ 6,794 | S/ 4,236 |
Percentage expected credit loss | 0.10% | 0% |
Stage 1 [member] | Commerce [Member] | ||
Disclosure of Expected Credit Losses by Economic Sector for Direct Loans [Line Items] | ||
Carrying amount | S/ 3,220,741 | S/ 3,837,304 |
Expected credit loss | S/ 24,033 | S/ 31,844 |
Percentage expected credit loss | 0.70% | 0.80% |
Stage 1 [member] | Manufacturing [Member] | ||
Disclosure of Expected Credit Losses by Economic Sector for Direct Loans [Line Items] | ||
Carrying amount | S/ 4,357,971 | S/ 4,346,251 |
Expected credit loss | S/ 11,196 | S/ 8,403 |
Percentage expected credit loss | 0.30% | 0.20% |
Stage 1 [member] | Professional Scientific and Technical Activities [Member] | ||
Disclosure of Expected Credit Losses by Economic Sector for Direct Loans [Line Items] | ||
Carrying amount | S/ 3,727,813 | S/ 3,529,961 |
Expected credit loss | S/ 15,792 | S/ 12,056 |
Percentage expected credit loss | 0.40% | 0.30% |
Stage 1 [member] | Communications Storage And Transportation [Member] | ||
Disclosure of Expected Credit Losses by Economic Sector for Direct Loans [Line Items] | ||
Carrying amount | S/ 998,739 | S/ 1,102,988 |
Expected credit loss | S/ 6,843 | S/ 7,047 |
Percentage expected credit loss | 0.70% | 0.60% |
Stage 1 [member] | Agriculture [Member] | ||
Disclosure of Expected Credit Losses by Economic Sector for Direct Loans [Line Items] | ||
Carrying amount | S/ 1,708,377 | S/ 1,747,159 |
Expected credit loss | S/ 3,209 | S/ 1,391 |
Percentage expected credit loss | 0.20% | 0.10% |
Stage 1 [member] | Electricity Gas Water And Oil [Member] | ||
Disclosure of Expected Credit Losses by Economic Sector for Direct Loans [Line Items] | ||
Carrying amount | S/ 746,792 | S/ 867,431 |
Expected credit loss | S/ 784 | S/ 886 |
Percentage expected credit loss | 0.10% | 0.10% |
Stage 1 [member] | Leaseholds and Real Estate Activities [Member] | ||
Disclosure of Expected Credit Losses by Economic Sector for Direct Loans [Line Items] | ||
Carrying amount | S/ 457,473 | S/ 499,385 |
Expected credit loss | S/ 2,628 | S/ 1,595 |
Percentage expected credit loss | 0.60% | 0.30% |
Stage 1 [member] | Construction And Infrastructure [Member] | ||
Disclosure of Expected Credit Losses by Economic Sector for Direct Loans [Line Items] | ||
Carrying amount | S/ 404,840 | S/ 415,827 |
Expected credit loss | S/ 1,499 | S/ 1,667 |
Percentage expected credit loss | 0.40% | 0.40% |
Stage 1 [member] | Others [Member] | ||
Disclosure of Expected Credit Losses by Economic Sector for Direct Loans [Line Items] | ||
Carrying amount | S/ 3,288,013 | S/ 4,067,036 |
Expected credit loss | S/ 5,858 | S/ 5,428 |
Percentage expected credit loss | 0.20% | 0.10% |
Stage 2 [member] | ||
Disclosure of Expected Credit Losses by Economic Sector for Direct Loans [Line Items] | ||
Carrying amount | S/ 5,490,460 | S/ 4,037,168 |
Expected credit loss | S/ 833,912 | S/ 737,286 |
Percentage expected credit loss | 15.20% | 18.30% |
Stage 2 [member] | Consumer Loan [Member] | ||
Disclosure of Expected Credit Losses by Economic Sector for Direct Loans [Line Items] | ||
Carrying amount | S/ 2,236,552 | S/ 1,829,574 |
Expected credit loss | S/ 713,361 | S/ 657,474 |
Percentage expected credit loss | 31.90% | 35.90% |
Stage 2 [member] | Mortgage Loans [Member] | ||
Disclosure of Expected Credit Losses by Economic Sector for Direct Loans [Line Items] | ||
Carrying amount | S/ 579,554 | S/ 349,628 |
Expected credit loss | S/ 25,753 | S/ 12,285 |
Percentage expected credit loss | 4.40% | 3.50% |
Stage 2 [member] | Commerce [Member] | ||
Disclosure of Expected Credit Losses by Economic Sector for Direct Loans [Line Items] | ||
Carrying amount | S/ 390,704 | S/ 402,454 |
Expected credit loss | S/ 38,186 | S/ 29,009 |
Percentage expected credit loss | 9.80% | 7.20% |
Stage 2 [member] | Manufacturing [Member] | ||
Disclosure of Expected Credit Losses by Economic Sector for Direct Loans [Line Items] | ||
Carrying amount | S/ 427,950 | S/ 451,393 |
Expected credit loss | S/ 14,568 | S/ 12,389 |
Percentage expected credit loss | 3.40% | 2.70% |
Stage 2 [member] | Professional Scientific and Technical Activities [Member] | ||
Disclosure of Expected Credit Losses by Economic Sector for Direct Loans [Line Items] | ||
Carrying amount | S/ 555,988 | S/ 298,534 |
Expected credit loss | S/ 18,725 | S/ 10,186 |
Percentage expected credit loss | 3.40% | 3.40% |
Stage 2 [member] | Communications Storage And Transportation [Member] | ||
Disclosure of Expected Credit Losses by Economic Sector for Direct Loans [Line Items] | ||
Carrying amount | S/ 167,002 | S/ 194,840 |
Expected credit loss | S/ 7,976 | S/ 7,035 |
Percentage expected credit loss | 4.80% | 3.60% |
Stage 2 [member] | Agriculture [Member] | ||
Disclosure of Expected Credit Losses by Economic Sector for Direct Loans [Line Items] | ||
Carrying amount | S/ 173,386 | S/ 134,545 |
Expected credit loss | S/ 1,854 | S/ 967 |
Percentage expected credit loss | 1.10% | 0.70% |
Stage 2 [member] | Electricity Gas Water And Oil [Member] | ||
Disclosure of Expected Credit Losses by Economic Sector for Direct Loans [Line Items] | ||
Carrying amount | S/ 188,577 | S/ 55,187 |
Expected credit loss | S/ 1,767 | S/ 462 |
Percentage expected credit loss | 0.90% | 0.80% |
Stage 2 [member] | Leaseholds and Real Estate Activities [Member] | ||
Disclosure of Expected Credit Losses by Economic Sector for Direct Loans [Line Items] | ||
Carrying amount | S/ 86,954 | S/ 84,056 |
Expected credit loss | S/ 2,216 | S/ 1,825 |
Percentage expected credit loss | 2.50% | 2.20% |
Stage 2 [member] | Construction And Infrastructure [Member] | ||
Disclosure of Expected Credit Losses by Economic Sector for Direct Loans [Line Items] | ||
Carrying amount | S/ 113,431 | S/ 91,910 |
Expected credit loss | S/ 1,163 | S/ 1,654 |
Percentage expected credit loss | 1% | 1.80% |
Stage 2 [member] | Others [Member] | ||
Disclosure of Expected Credit Losses by Economic Sector for Direct Loans [Line Items] | ||
Carrying amount | S/ 570,362 | S/ 145,047 |
Expected credit loss | S/ 8,343 | S/ 4,000 |
Percentage expected credit loss | 1.50% | 2.80% |
Stage 3 [member] | ||
Disclosure of Expected Credit Losses by Economic Sector for Direct Loans [Line Items] | ||
Carrying amount | S/ 1,510,688 | S/ 1,190,127 |
Expected credit loss | S/ 970,271 | S/ 682,011 |
Percentage expected credit loss | 64.20% | 57.30% |
Stage 3 [member] | Consumer Loan [Member] | ||
Disclosure of Expected Credit Losses by Economic Sector for Direct Loans [Line Items] | ||
Carrying amount | S/ 733,096 | S/ 452,301 |
Expected credit loss | S/ 682,417 | S/ 430,902 |
Percentage expected credit loss | 93.10% | 95.30% |
Stage 3 [member] | Mortgage Loans [Member] | ||
Disclosure of Expected Credit Losses by Economic Sector for Direct Loans [Line Items] | ||
Carrying amount | S/ 273,405 | S/ 238,527 |
Expected credit loss | S/ 54,651 | S/ 45,101 |
Percentage expected credit loss | 20% | 18.90% |
Stage 3 [member] | Commerce [Member] | ||
Disclosure of Expected Credit Losses by Economic Sector for Direct Loans [Line Items] | ||
Carrying amount | S/ 176,989 | S/ 173,236 |
Expected credit loss | S/ 87,557 | S/ 78,028 |
Percentage expected credit loss | 49.50% | 45% |
Stage 3 [member] | Manufacturing [Member] | ||
Disclosure of Expected Credit Losses by Economic Sector for Direct Loans [Line Items] | ||
Carrying amount | S/ 58,967 | S/ 63,397 |
Expected credit loss | S/ 24,366 | S/ 21,611 |
Percentage expected credit loss | 41.30% | 34.10% |
Stage 3 [member] | Professional Scientific and Technical Activities [Member] | ||
Disclosure of Expected Credit Losses by Economic Sector for Direct Loans [Line Items] | ||
Carrying amount | S/ 75,172 | S/ 64,078 |
Expected credit loss | S/ 36,580 | S/ 26,497 |
Percentage expected credit loss | 48.70% | 41.40% |
Stage 3 [member] | Communications Storage And Transportation [Member] | ||
Disclosure of Expected Credit Losses by Economic Sector for Direct Loans [Line Items] | ||
Carrying amount | S/ 75,474 | S/ 75,427 |
Expected credit loss | S/ 25,450 | S/ 23,645 |
Percentage expected credit loss | 33.70% | 31.30% |
Stage 3 [member] | Agriculture [Member] | ||
Disclosure of Expected Credit Losses by Economic Sector for Direct Loans [Line Items] | ||
Carrying amount | S/ 12,667 | S/ 10,863 |
Expected credit loss | S/ 1,632 | S/ 1,381 |
Percentage expected credit loss | 12.90% | 12.70% |
Stage 3 [member] | Electricity Gas Water And Oil [Member] | ||
Disclosure of Expected Credit Losses by Economic Sector for Direct Loans [Line Items] | ||
Carrying amount | S/ 1,466 | S/ 1,652 |
Expected credit loss | S/ 346 | S/ 220 |
Percentage expected credit loss | 23.60% | 13.30% |
Stage 3 [member] | Leaseholds and Real Estate Activities [Member] | ||
Disclosure of Expected Credit Losses by Economic Sector for Direct Loans [Line Items] | ||
Carrying amount | S/ 46,074 | S/ 23,441 |
Expected credit loss | S/ 20,693 | S/ 14,518 |
Percentage expected credit loss | 44.90% | 61.90% |
Stage 3 [member] | Construction And Infrastructure [Member] | ||
Disclosure of Expected Credit Losses by Economic Sector for Direct Loans [Line Items] | ||
Carrying amount | S/ 40,799 | S/ 49,736 |
Expected credit loss | S/ 27,405 | S/ 32,569 |
Percentage expected credit loss | 67.20% | 65.50% |
Stage 3 [member] | Others [Member] | ||
Disclosure of Expected Credit Losses by Economic Sector for Direct Loans [Line Items] | ||
Carrying amount | S/ 16,579 | S/ 37,469 |
Expected credit loss | S/ 9,174 | S/ 7,539 |
Percentage expected credit loss | 55.30% | 20.10% |
Loans, net - Summary of Expec_2
Loans, net - Summary of Expected Credit Losses by Economic Sector for Indirect Loans (Detail) - Indirect Loans [Member] - PEN (S/) S/ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of Expected Credit Losses by Economic Sector For Indirect Loans [Line Items] | ||
Carrying amount | S/ 4,743,480 | S/ 4,487,347 |
Expected credit loss | S/ 17,932 | S/ 35,495 |
Percentage expected credit loss | 0.40% | 0.80% |
Stage 1 [member] | ||
Disclosure of Expected Credit Losses by Economic Sector For Indirect Loans [Line Items] | ||
Carrying amount | S/ 4,024,255 | S/ 3,959,441 |
Expected credit loss | S/ 6,624 | S/ 8,354 |
Percentage expected credit loss | 0.20% | 0.20% |
Stage 2 [member] | ||
Disclosure of Expected Credit Losses by Economic Sector For Indirect Loans [Line Items] | ||
Carrying amount | S/ 703,425 | S/ 501,830 |
Expected credit loss | S/ 3,939 | S/ 18,205 |
Percentage expected credit loss | 0.60% | 3.60% |
Stage 3 [member] | ||
Disclosure of Expected Credit Losses by Economic Sector For Indirect Loans [Line Items] | ||
Carrying amount | S/ 15,800 | S/ 26,076 |
Expected credit loss | S/ 7,369 | S/ 8,936 |
Percentage expected credit loss | 46.60% | 34.30% |
Commerce [Member] | ||
Disclosure of Expected Credit Losses by Economic Sector For Indirect Loans [Line Items] | ||
Carrying amount | S/ 340,251 | S/ 305,529 |
Expected credit loss | S/ 1,131 | S/ 782 |
Percentage expected credit loss | 0.30% | 0.30% |
Commerce [Member] | Stage 1 [member] | ||
Disclosure of Expected Credit Losses by Economic Sector For Indirect Loans [Line Items] | ||
Carrying amount | S/ 297,127 | S/ 264,926 |
Expected credit loss | S/ 512 | S/ 309 |
Percentage expected credit loss | 0.20% | 0.10% |
Commerce [Member] | Stage 2 [member] | ||
Disclosure of Expected Credit Losses by Economic Sector For Indirect Loans [Line Items] | ||
Carrying amount | S/ 40,894 | S/ 40,527 |
Expected credit loss | S/ 340 | S/ 424 |
Percentage expected credit loss | 0.80% | 1% |
Commerce [Member] | Stage 3 [member] | ||
Disclosure of Expected Credit Losses by Economic Sector For Indirect Loans [Line Items] | ||
Carrying amount | S/ 2,230 | S/ 76 |
Expected credit loss | S/ 279 | S/ 49 |
Percentage expected credit loss | 12.50% | 64.50% |
Manufacturing [Member] | ||
Disclosure of Expected Credit Losses by Economic Sector For Indirect Loans [Line Items] | ||
Carrying amount | S/ 654,501 | S/ 652,584 |
Expected credit loss | S/ 839 | S/ 640 |
Percentage expected credit loss | 0.10% | 0.10% |
Manufacturing [Member] | Stage 1 [member] | ||
Disclosure of Expected Credit Losses by Economic Sector For Indirect Loans [Line Items] | ||
Carrying amount | S/ 505,674 | S/ 518,115 |
Expected credit loss | S/ 548 | S/ 487 |
Percentage expected credit loss | 0.10% | 0.10% |
Manufacturing [Member] | Stage 2 [member] | ||
Disclosure of Expected Credit Losses by Economic Sector For Indirect Loans [Line Items] | ||
Carrying amount | S/ 148,827 | S/ 134,469 |
Expected credit loss | S/ 291 | S/ 153 |
Percentage expected credit loss | 0.20% | 0.10% |
Manufacturing [Member] | Stage 3 [member] | ||
Disclosure of Expected Credit Losses by Economic Sector For Indirect Loans [Line Items] | ||
Carrying amount | ||
Expected credit loss | ||
Percentage expected credit loss | 0% | 0% |
Professional Scientific and Technical Activities [Member] | ||
Disclosure of Expected Credit Losses by Economic Sector For Indirect Loans [Line Items] | ||
Carrying amount | S/ 1,257,544 | S/ 1,260,088 |
Expected credit loss | S/ 2,887 | S/ 2,238 |
Percentage expected credit loss | 0.20% | 0.20% |
Professional Scientific and Technical Activities [Member] | Stage 1 [member] | ||
Disclosure of Expected Credit Losses by Economic Sector For Indirect Loans [Line Items] | ||
Carrying amount | S/ 1,145,646 | S/ 1,183,657 |
Expected credit loss | S/ 1,994 | S/ 1,486 |
Percentage expected credit loss | 0.20% | 0.10% |
Professional Scientific and Technical Activities [Member] | Stage 2 [member] | ||
Disclosure of Expected Credit Losses by Economic Sector For Indirect Loans [Line Items] | ||
Carrying amount | S/ 110,916 | S/ 75,946 |
Expected credit loss | S/ 788 | S/ 700 |
Percentage expected credit loss | 0.70% | 0.90% |
Professional Scientific and Technical Activities [Member] | Stage 3 [member] | ||
Disclosure of Expected Credit Losses by Economic Sector For Indirect Loans [Line Items] | ||
Carrying amount | S/ 982 | S/ 485 |
Expected credit loss | S/ 105 | S/ 52 |
Percentage expected credit loss | 10.70% | 10.70% |
Communications Storage And Transportation [Member] | ||
Disclosure of Expected Credit Losses by Economic Sector For Indirect Loans [Line Items] | ||
Carrying amount | S/ 567,488 | S/ 486,135 |
Expected credit loss | S/ 1,046 | S/ 580 |
Percentage expected credit loss | 0.20% | 0.10% |
Communications Storage And Transportation [Member] | Stage 1 [member] | ||
Disclosure of Expected Credit Losses by Economic Sector For Indirect Loans [Line Items] | ||
Carrying amount | S/ 541,561 | S/ 467,018 |
Expected credit loss | S/ 697 | S/ 489 |
Percentage expected credit loss | 0.10% | 0.10% |
Communications Storage And Transportation [Member] | Stage 2 [member] | ||
Disclosure of Expected Credit Losses by Economic Sector For Indirect Loans [Line Items] | ||
Carrying amount | S/ 25,927 | S/ 19,117 |
Expected credit loss | S/ 349 | S/ 91 |
Percentage expected credit loss | 1.30% | 0.50% |
Communications Storage And Transportation [Member] | Stage 3 [member] | ||
Disclosure of Expected Credit Losses by Economic Sector For Indirect Loans [Line Items] | ||
Carrying amount | ||
Expected credit loss | S/ 0 | |
Percentage expected credit loss | 0% | 0% |
Agriculture [Member] | ||
Disclosure of Expected Credit Losses by Economic Sector For Indirect Loans [Line Items] | ||
Carrying amount | S/ 9,068 | S/ 4,487 |
Expected credit loss | S/ 21 | S/ 7 |
Percentage expected credit loss | 0.20% | 0.20% |
Agriculture [Member] | Stage 1 [member] | ||
Disclosure of Expected Credit Losses by Economic Sector For Indirect Loans [Line Items] | ||
Carrying amount | S/ 9,031 | S/ 4,487 |
Expected credit loss | S/ 21 | S/ 7 |
Percentage expected credit loss | 0.20% | 0.20% |
Agriculture [Member] | Stage 2 [member] | ||
Disclosure of Expected Credit Losses by Economic Sector For Indirect Loans [Line Items] | ||
Carrying amount | S/ 37 | |
Expected credit loss | ||
Percentage expected credit loss | 0% | 0% |
Agriculture [Member] | Stage 3 [member] | ||
Disclosure of Expected Credit Losses by Economic Sector For Indirect Loans [Line Items] | ||
Carrying amount | ||
Expected credit loss | ||
Percentage expected credit loss | 0% | 0% |
Electricity Gas Water And Oil [Member] | ||
Disclosure of Expected Credit Losses by Economic Sector For Indirect Loans [Line Items] | ||
Carrying amount | S/ 309,366 | S/ 155,621 |
Expected credit loss | S/ 317 | S/ 135 |
Percentage expected credit loss | 0.10% | 0.10% |
Electricity Gas Water And Oil [Member] | Stage 1 [member] | ||
Disclosure of Expected Credit Losses by Economic Sector For Indirect Loans [Line Items] | ||
Carrying amount | S/ 308,428 | S/ 155,621 |
Expected credit loss | S/ 311 | S/ 135 |
Percentage expected credit loss | 0.10% | 0.10% |
Electricity Gas Water And Oil [Member] | Stage 2 [member] | ||
Disclosure of Expected Credit Losses by Economic Sector For Indirect Loans [Line Items] | ||
Carrying amount | S/ 938 | |
Expected credit loss | S/ 6 | |
Percentage expected credit loss | 0.60% | 0% |
Electricity Gas Water And Oil [Member] | Stage 3 [member] | ||
Disclosure of Expected Credit Losses by Economic Sector For Indirect Loans [Line Items] | ||
Carrying amount | ||
Expected credit loss | ||
Percentage expected credit loss | 0% | 0% |
Leaseholds and Real Estate Activities [Member] | ||
Disclosure of Expected Credit Losses by Economic Sector For Indirect Loans [Line Items] | ||
Carrying amount | S/ 57,632 | S/ 64,187 |
Expected credit loss | S/ 465 | S/ 290 |
Percentage expected credit loss | 0.80% | 0.50% |
Leaseholds and Real Estate Activities [Member] | Stage 1 [member] | ||
Disclosure of Expected Credit Losses by Economic Sector For Indirect Loans [Line Items] | ||
Carrying amount | S/ 41,097 | S/ 45,037 |
Expected credit loss | S/ 298 | S/ 193 |
Percentage expected credit loss | 0.70% | 0.40% |
Leaseholds and Real Estate Activities [Member] | Stage 2 [member] | ||
Disclosure of Expected Credit Losses by Economic Sector For Indirect Loans [Line Items] | ||
Carrying amount | S/ 16,276 | S/ 19,150 |
Expected credit loss | S/ 119 | S/ 97 |
Percentage expected credit loss | 0.70% | 0.50% |
Leaseholds and Real Estate Activities [Member] | Stage 3 [member] | ||
Disclosure of Expected Credit Losses by Economic Sector For Indirect Loans [Line Items] | ||
Carrying amount | S/ 259 | |
Expected credit loss | S/ 48 | |
Percentage expected credit loss | 18.50% | 0% |
Construction And Infrastructure [Member] | ||
Disclosure of Expected Credit Losses by Economic Sector For Indirect Loans [Line Items] | ||
Carrying amount | S/ 530,919 | S/ 568,230 |
Expected credit loss | S/ 9,750 | S/ 17,708 |
Percentage expected credit loss | 1.80% | 3.10% |
Construction And Infrastructure [Member] | Stage 1 [member] | ||
Disclosure of Expected Credit Losses by Economic Sector For Indirect Loans [Line Items] | ||
Carrying amount | S/ 306,042 | S/ 412,388 |
Expected credit loss | S/ 1,021 | S/ 4,470 |
Percentage expected credit loss | 0.30% | 1.10% |
Construction And Infrastructure [Member] | Stage 2 [member] | ||
Disclosure of Expected Credit Losses by Economic Sector For Indirect Loans [Line Items] | ||
Carrying amount | S/ 212,589 | S/ 130,886 |
Expected credit loss | S/ 1,797 | S/ 4,463 |
Percentage expected credit loss | 0.80% | 3.40% |
Construction And Infrastructure [Member] | Stage 3 [member] | ||
Disclosure of Expected Credit Losses by Economic Sector For Indirect Loans [Line Items] | ||
Carrying amount | S/ 12,288 | S/ 24,956 |
Expected credit loss | S/ 6,932 | S/ 8,775 |
Percentage expected credit loss | 56.40% | 35.20% |
Others [Member] | ||
Disclosure of Expected Credit Losses by Economic Sector For Indirect Loans [Line Items] | ||
Carrying amount | S/ 1,016,711 | S/ 990,486 |
Expected credit loss | S/ 1,476 | S/ 13,115 |
Percentage expected credit loss | 0.10% | 1.30% |
Others [Member] | Stage 1 [member] | ||
Disclosure of Expected Credit Losses by Economic Sector For Indirect Loans [Line Items] | ||
Carrying amount | S/ 869,649 | S/ 908,192 |
Expected credit loss | S/ 1,222 | S/ 778 |
Percentage expected credit loss | 0.10% | 0.10% |
Others [Member] | Stage 2 [member] | ||
Disclosure of Expected Credit Losses by Economic Sector For Indirect Loans [Line Items] | ||
Carrying amount | S/ 147,021 | S/ 81,735 |
Expected credit loss | S/ 249 | S/ 12,277 |
Percentage expected credit loss | 0.20% | 15% |
Others [Member] | Stage 3 [member] | ||
Disclosure of Expected Credit Losses by Economic Sector For Indirect Loans [Line Items] | ||
Carrying amount | S/ 41 | S/ 559 |
Expected credit loss | S/ 5 | S/ 60 |
Percentage expected credit loss | 12.20% | 10.70% |
Investment property - Summary o
Investment property - Summary of investment property (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | ||||
Dec. 31, 2023 | Dec. 31, 2022 | Jan. 01, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of detailed information about investment property [line items] | |||||
Investment property | S/ 1,298,892 | S/ 1,287,717 | S/ 1,224,454 | S/ 1,224,454 | S/ 1,043,978 |
Land [member] | |||||
Disclosure of detailed information about investment property [line items] | |||||
Investment property | 441,855 | 444,554 | |||
Real Plaza Shopping Malls [Member] | |||||
Disclosure of detailed information about investment property [line items] | |||||
Investment property | 28,991 | 43,728 | |||
Buildings [member] | |||||
Disclosure of detailed information about investment property [line items] | |||||
Investment property | 828,046 | 799,435 | |||
Level 3 of fair value hierarchy [member] | San Isidro – Lima | Land [member] | |||||
Disclosure of detailed information about investment property [line items] | |||||
Investment property | S/ 269,194 | 264,868 | |||
Investment Property year of Acquisition or Construction | 2009 years | ||||
Investment Property Valuation Methodology | Appraisal | ||||
Level 3 of fair value hierarchy [member] | San Martín de Porres – Lima | Land [member] | |||||
Disclosure of detailed information about investment property [line items] | |||||
Investment property | S/ 77,970 | 88,182 | |||
Investment Property year of Acquisition or Construction | 2015 years | ||||
Investment Property Valuation Methodology | Appraisal | ||||
Level 3 of fair value hierarchy [member] | Nuevo Chimbote | Land [member] | |||||
Disclosure of detailed information about investment property [line items] | |||||
Investment property | S/ 34,724 | 33,747 | |||
Investment Property year of Acquisition or Construction | 2021 years | ||||
Investment Property Valuation Methodology | Appraisal | ||||
Level 3 of fair value hierarchy [member] | Santa Clara – Lima | Land [member] | |||||
Disclosure of detailed information about investment property [line items] | |||||
Investment property | S/ 27,229 | 26,352 | |||
Investment Property year of Acquisition or Construction | 2017 years | ||||
Investment Property Valuation Methodology | Appraisal | ||||
Level 3 of fair value hierarchy [member] | Sullana | Land [member] | |||||
Disclosure of detailed information about investment property [line items] | |||||
Investment property | S/ 23,751 | 22,689 | |||
Investment Property year of Acquisition or Construction | 2012 years | ||||
Investment Property Valuation Methodology | Appraisal | ||||
Level 3 of fair value hierarchy [member] | Talara | Real Plaza Shopping Malls [Member] | |||||
Disclosure of detailed information about investment property [line items] | |||||
Investment property | S/ 28,991 | 43,728 | |||
Investment Property year of Acquisition or Construction | 2015 years | ||||
Investment Property Valuation Methodology | DCF | ||||
Level 3 of fair value hierarchy [member] | Ate Vitarte - Lima | Buildings [member] | |||||
Disclosure of detailed information about investment property [line items] | |||||
Investment property | S/ 160,208 | 149,720 | |||
Investment Property year of Acquisition or Construction | 2006 years | ||||
Investment Property Valuation Methodology | DCF/Appraisal | ||||
Level 3 of fair value hierarchy [member] | Piura | Buildings [member] | |||||
Disclosure of detailed information about investment property [line items] | |||||
Investment property | S/ 131,144 | 123,508 | |||
Investment Property Valuation Methodology | DCF/Appraisal | ||||
Level 3 of fair value hierarchy [member] | Piura | Buildings [member] | Bottom of range [member] | |||||
Disclosure of detailed information about investment property [line items] | |||||
Investment Property year of Acquisition or Construction | 2008 years | ||||
Level 3 of fair value hierarchy [member] | Piura | Buildings [member] | Top of range [member] | |||||
Disclosure of detailed information about investment property [line items] | |||||
Investment Property year of Acquisition or Construction | 2020 years | ||||
Level 3 of fair value hierarchy [member] | Chorrillos – Lima | Buildings [member] | |||||
Disclosure of detailed information about investment property [line items] | |||||
Investment property | S/ 94,184 | 81,516 | |||
Investment Property year of Acquisition or Construction | 2017 years | ||||
Investment Property Valuation Methodology | DCF | ||||
Level 3 of fair value hierarchy [member] | Orquídeas - San Isidro - Lima | Buildings [member] | |||||
Disclosure of detailed information about investment property [line items] | |||||
Investment property | S/ 128,593 | 138,643 | |||
Investment Property year of Acquisition or Construction | 2017 years | ||||
Investment Property Valuation Methodology | DCF | ||||
Level 3 of fair value hierarchy [member] | Paseo Del Bosque | Buildings [member] | |||||
Disclosure of detailed information about investment property [line items] | |||||
Investment property | S/ 87,168 | 96,194 | |||
Investment Property year of Acquisition or Construction | 2021 years | ||||
Investment Property Valuation Methodology | DCF | ||||
Level 3 of fair value hierarchy [member] | Chimbote | Buildings [member] | |||||
Disclosure of detailed information about investment property [line items] | |||||
Investment property | S/ 47,054 | 45,069 | |||
Investment Property year of Acquisition or Construction | 2015 years | ||||
Investment Property Valuation Methodology | DCF | ||||
Level 3 of fair value hierarchy [member] | Maestro – Huancayo | Buildings [member] | |||||
Disclosure of detailed information about investment property [line items] | |||||
Investment property | S/ 34,978 | 32,342 | |||
Investment Property year of Acquisition or Construction | 2017 years | ||||
Investment Property Valuation Methodology | DCF | ||||
Level 3 of fair value hierarchy [member] | Cusco | Buildings [member] | |||||
Disclosure of detailed information about investment property [line items] | |||||
Investment property | S/ 28,167 | 27,513 | |||
Investment Property year of Acquisition or Construction | 2017 years | ||||
Investment Property Valuation Methodology | DCF | ||||
Level 3 of fair value hierarchy [member] | Panorama – Lima | Buildings [member] | |||||
Disclosure of detailed information about investment property [line items] | |||||
Investment property | S/ 22,136 | 20,669 | |||
Investment Property year of Acquisition or Construction | 2016 years | ||||
Investment Property Valuation Methodology | DCF | ||||
Level 3 of fair value hierarchy [member] | Trujillo | Buildings [member] | |||||
Disclosure of detailed information about investment property [line items] | |||||
Investment property | S/ 16,225 | 15,815 | |||
Investment Property year of Acquisition or Construction | 2016 years | ||||
Investment Property Valuation Methodology | DCF | ||||
Level 3 of fair value hierarchy [member] | Cercado de Lima – Lima | Buildings [member] | |||||
Disclosure of detailed information about investment property [line items] | |||||
Investment property | S/ 15,908 | 14,543 | |||
Investment Property year of Acquisition or Construction | 2017 years | ||||
Investment Property Valuation Methodology | DCF | ||||
Level 3 of fair value hierarchy [member] | Pardo y Aliaga – Lima | Buildings [member] | |||||
Disclosure of detailed information about investment property [line items] | |||||
Investment property | S/ 14,790 | 16,755 | |||
Investment Property year of Acquisition or Construction | 2008 years | ||||
Investment Property Valuation Methodology | DCF | ||||
Level 3 of fair value hierarchy [member] | Pardo (Vivanda) | Buildings [member] | |||||
Disclosure of detailed information about investment property [line items] | |||||
Investment property | S/ 12,903 | 4,004 | |||
Investment Property year of Acquisition or Construction | 2021 years | ||||
Investment Property Valuation Methodology | DCF | ||||
Level 3 of fair value hierarchy [member] | Others | Land [member] | |||||
Disclosure of detailed information about investment property [line items] | |||||
Investment property | S/ 8,987 | 8,716 | |||
Investment Property Valuation Methodology | Appraisal / Cost | ||||
Level 3 of fair value hierarchy [member] | Others | Buildings [member] | |||||
Disclosure of detailed information about investment property [line items] | |||||
Investment property | S/ 34,588 | S/ 33,144 | |||
Investment Property Valuation Methodology | DCF |
Investment property - Summary_2
Investment property - Summary of gain on investment properties (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of detailed information about investment property [abstract] | |||
Income from rental of investment property | S/ 65,961 | S/ 65,485 | S/ 57,430 |
Gain on valuation of investment property | 7,111 | 19,146 | 21,969 |
Total | S/ 73,072 | S/ 84,631 | S/ 79,399 |
Investment property - Summary_3
Investment property - Summary of movement of investment property (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of detailed information about investment property [abstract] | |||
Beginning of year balances | S/ 1,287,717 | S/ 1,224,454 | S/ 1,043,978 |
Additions | 16,903 | 34,760 | 156,892 |
Valuation gain | 7,111 | 19,146 | 21,969 |
Net transfers | (12,839) | 9,357 | 1,615 |
Ending balance | S/ 1,298,892 | S/ 1,287,717 | S/ 1,224,454 |
Investment property - Additiona
Investment property - Additional information (Detail) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Bottom of range [member] | ||
Disclosure of detailed information about investment property [line items] | ||
Minimum Rental Income Period | 20 years | 20 years |
Top of range [member] | ||
Disclosure of detailed information about investment property [line items] | ||
Minimum Rental Income Period | 27 years | 28 years |
Investment property - Summary_4
Investment property - Summary of average price of land (Detail) | 12 Months Ended |
Dec. 31, 2023 USD-Per-Sq-Meter | |
San Isidro – Lima | Bottom of range [member] | |
Disclosure of detailed information about investment property [line items] | |
Land Average Price | 5,400 |
San Isidro – Lima | Top of range [member] | |
Disclosure of detailed information about investment property [line items] | |
Land Average Price | 8,487 |
San Isidro – Lima | Weighted average [member] | |
Disclosure of detailed information about investment property [line items] | |
Land Average Price | 7,062 |
San Martin de Porres – Lima | Bottom of range [member] | |
Disclosure of detailed information about investment property [line items] | |
Land Average Price | 1,081 |
San Martin de Porres – Lima | Top of range [member] | |
Disclosure of detailed information about investment property [line items] | |
Land Average Price | 1,425 |
San Martin de Porres – Lima | Weighted average [member] | |
Disclosure of detailed information about investment property [line items] | |
Land Average Price | 1,254 |
Piura | Bottom of range [member] | |
Disclosure of detailed information about investment property [line items] | |
Land Average Price | 650 |
Piura | Top of range [member] | |
Disclosure of detailed information about investment property [line items] | |
Land Average Price | 850 |
Piura | Weighted average [member] | |
Disclosure of detailed information about investment property [line items] | |
Land Average Price | 743 |
Ate Vitarte - Lima | Bottom of range [member] | |
Disclosure of detailed information about investment property [line items] | |
Land Average Price | 1,268 |
Ate Vitarte - Lima | Top of range [member] | |
Disclosure of detailed information about investment property [line items] | |
Land Average Price | 1,458 |
Ate Vitarte - Lima | Weighted average [member] | |
Disclosure of detailed information about investment property [line items] | |
Land Average Price | 1,394 |
Other minors | Bottom of range [member] | |
Disclosure of detailed information about investment property [line items] | |
Land Average Price | 156 |
Other minors | Top of range [member] | |
Disclosure of detailed information about investment property [line items] | |
Land Average Price | 383 |
Other minors | Weighted average [member] | |
Disclosure of detailed information about investment property [line items] | |
Land Average Price | 232 |
Investment property - Summary_5
Investment property - Summary of assumptions used in valuation of investment property (Detail) - Investment property [member] | Dec. 31, 2023 | Dec. 31, 2022 |
Average ERV | ||
Disclosure of detailed information about investment property [line items] | ||
Valuation and estimation of the market value | 129.3 | 125.9 |
Long-term inflation | ||
Disclosure of detailed information about investment property [line items] | ||
Valuation and estimation of the market value | 2.9 | 3.1 |
Long-term occupancy rate | ||
Disclosure of detailed information about investment property [line items] | ||
Valuation and estimation of the market value | 97.1 | 97.1 |
Average growth rate of rental income | ||
Disclosure of detailed information about investment property [line items] | ||
Valuation and estimation of the market value | 3.1 | 2.9 |
Average NOI margin | ||
Disclosure of detailed information about investment property [line items] | ||
Valuation and estimation of the market value | 93 | 93.7 |
Discount rate | ||
Disclosure of detailed information about investment property [line items] | ||
Valuation and estimation of the market value | 9.6 | 10.3 |
Investment property - Summary_6
Investment property - Summary of sensitivity analysis in valuation of investment property (Detail) - Investment property [member] - PEN (S/) S/ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Average growth rate of rental income | ||
Disclosure of detailed information about investment property [line items] | ||
Increase | 0.25% | |
Decrease | 0.25% | |
Increase | S/ 20,853 | S/ 10,474 |
Decrease | S/ (16,791) | (10,107) |
Long-term inflation | ||
Disclosure of detailed information about investment property [line items] | ||
Increase | 0.25% | |
Decrease | 0.25% | |
Increase | S/ 17,833 | 16,133 |
Decrease | S/ (13,824) | (15,017) |
Discount rate | ||
Disclosure of detailed information about investment property [line items] | ||
Increase | 0.50% | |
Decrease | 0.50% | |
Increase | S/ (50,337) | (47,957) |
Decrease | S/ 62,076 | S/ 55,135 |
Investment property - Summary_7
Investment property - Summary of future minimum fixed rental income (Detail) - Investment property [member] - PEN (S/) S/ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of detailed information about investment property [line items] | ||
Future minimum fixed rental income | S/ 1,180,925 | S/ 1,168,510 |
Within 1 year | ||
Disclosure of detailed information about investment property [line items] | ||
Future minimum fixed rental income | 69,078 | 61,557 |
After 1 year but not more than 5 years | ||
Disclosure of detailed information about investment property [line items] | ||
Future minimum fixed rental income | 255,898 | 241,546 |
Over 5 years | ||
Disclosure of detailed information about investment property [line items] | ||
Future minimum fixed rental income | S/ 855,949 | S/ 865,407 |
Property, furniture and equip_3
Property, furniture and equipment, net - Summary of movement of property, furniture and equipment (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | |||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Jan. 01, 2022 | |
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Beginning balance | S/ 791,432 | S/ 815,118 | ||
Ending balance | 804,832 | 791,432 | S/ 815,118 | |
Net book value | 804,832 | 791,432 | 815,118 | S/ 815,118 |
Property, plant and equipment not subject to operating leases [member] | Land [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Ending balance | 125,822 | |||
Net book value | 125,822 | |||
Property, plant and equipment not subject to operating leases [member] | Buildings Facilities And Leasehold Improvements [Member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Ending balance | 287,351 | |||
Net book value | 287,351 | |||
Property, plant and equipment not subject to operating leases [member] | Fixtures and fittings [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Ending balance | 262,039 | |||
Net book value | 262,039 | |||
Property, plant and equipment not subject to operating leases [member] | Vehicles [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Ending balance | 158 | |||
Net book value | 158 | |||
Property, plant and equipment not subject to operating leases [member] | InTransit Equipment and WorkInProgress [Member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Ending balance | 43,206 | |||
Net book value | 43,206 | |||
Property, plant and equipment subject to operating leases [member] | Buildings Facilities And Leasehold Improvements [Member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Ending balance | 85,794 | |||
Net book value | 85,794 | |||
Property, plant and equipment subject to operating leases [member] | Fixtures and fittings [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Ending balance | 462 | |||
Net book value | 462 | |||
Gross carrying amount [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Beginning balance | 1,864,977 | 1,826,051 | 1,781,765 | |
Acquisition of Izipay | 90,079 | |||
Additions | 183,546 | 168,214 | 118,974 | |
Transfer (to) from investment property | 12,193 | (10,643) | (2,029) | |
Disposals, write-offs and others | (68,290) | (208,724) | (72,659) | |
Ending balance | 1,992,426 | 1,864,977 | 1,826,051 | |
Net book value | 1,992,426 | 1,864,977 | 1,826,051 | |
Gross carrying amount [member] | Property, plant and equipment not subject to operating leases [member] | Land [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Beginning balance | 141,206 | |||
Transfer (to) from investment property | (1,231) | |||
Disposals, write-offs and others | (14,153) | |||
Ending balance | 125,822 | 141,206 | ||
Net book value | 125,822 | 141,206 | ||
Gross carrying amount [member] | Property, plant and equipment not subject to operating leases [member] | Buildings Facilities And Leasehold Improvements [Member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Beginning balance | 600,168 | |||
Additions | 3,684 | |||
Transfers | 6,974 | |||
Transfer (to) from investment property | 13,426 | |||
Disposals, write-offs and others | (11,434) | |||
Ending balance | 612,818 | 600,168 | ||
Net book value | 612,818 | 600,168 | ||
Gross carrying amount [member] | Property, plant and equipment not subject to operating leases [member] | Fixtures and fittings [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Beginning balance | 806,066 | |||
Additions | 108,077 | |||
Transfers | 4,171 | |||
Transfer (to) from investment property | (2) | |||
Disposals, write-offs and others | (27,515) | |||
Ending balance | 890,797 | 806,066 | ||
Net book value | 890,797 | 806,066 | ||
Gross carrying amount [member] | Property, plant and equipment not subject to operating leases [member] | Vehicles [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Beginning balance | 1,233 | |||
Disposals, write-offs and others | (17) | |||
Ending balance | 1,216 | 1,233 | ||
Net book value | 1,216 | 1,233 | ||
Gross carrying amount [member] | Property, plant and equipment not subject to operating leases [member] | InTransit Equipment and WorkInProgress [Member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Beginning balance | 34,014 | |||
Additions | 35,884 | |||
Transfers | (26,494) | |||
Disposals, write-offs and others | (198) | |||
Ending balance | 43,206 | 34,014 | ||
Net book value | 43,206 | 34,014 | ||
Gross carrying amount [member] | Property, plant and equipment subject to operating leases [member] | Buildings Facilities And Leasehold Improvements [Member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Beginning balance | 279,998 | |||
Additions | 35,901 | |||
Disposals, write-offs and others | (14,973) | |||
Ending balance | 300,926 | 279,998 | ||
Net book value | 300,926 | 279,998 | ||
Gross carrying amount [member] | Property, plant and equipment subject to operating leases [member] | Fixtures and fittings [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Beginning balance | 2,292 | |||
Transfers | 15,349 | |||
Ending balance | 17,641 | 2,292 | ||
Net book value | 17,641 | 2,292 | ||
Accumulated depreciation and amortisation [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Beginning balance | (1,073,545) | (1,010,933) | (937,338) | |
Depreciation of the year | (156,023) | (133,825) | (121,932) | |
Transfer (to) from investment property | 1,286 | 1,038 | ||
Disposals, write-offs and others | 41,974 | 69,927 | 47,299 | |
Ending balance | (1,187,594) | (1,073,545) | (1,010,933) | |
Net book value | (1,187,594) | (1,073,545) | S/ (1,010,933) | |
Accumulated depreciation and amortisation [member] | Property, plant and equipment not subject to operating leases [member] | Buildings Facilities And Leasehold Improvements [Member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Beginning balance | (312,150) | |||
Depreciation of the year | (20,599) | |||
Disposals, write-offs and others | 7,282 | |||
Ending balance | (325,467) | (312,150) | ||
Net book value | (325,467) | (312,150) | ||
Accumulated depreciation and amortisation [member] | Property, plant and equipment not subject to operating leases [member] | Fixtures and fittings [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Beginning balance | (582,287) | |||
Depreciation of the year | (71,113) | |||
Disposals, write-offs and others | 24,642 | |||
Ending balance | (628,758) | (582,287) | ||
Net book value | (628,758) | (582,287) | ||
Accumulated depreciation and amortisation [member] | Property, plant and equipment not subject to operating leases [member] | Vehicles [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Beginning balance | (951) | |||
Depreciation of the year | (119) | |||
Disposals, write-offs and others | 12 | |||
Ending balance | (1,058) | (951) | ||
Net book value | (1,058) | (951) | ||
Accumulated depreciation and amortisation [member] | Property, plant and equipment subject to operating leases [member] | Buildings Facilities And Leasehold Improvements [Member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Beginning balance | (175,961) | |||
Depreciation of the year | (49,209) | |||
Disposals, write-offs and others | 10,038 | |||
Ending balance | (215,132) | (175,961) | ||
Net book value | (215,132) | (175,961) | ||
Accumulated depreciation and amortisation [member] | Property, plant and equipment subject to operating leases [member] | Fixtures and fittings [member] | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Beginning balance | (2,196) | |||
Depreciation of the year | (14,983) | |||
Ending balance | (17,179) | (2,196) | ||
Net book value | S/ (17,179) | S/ (2,196) |
Property, furniture and equip_4
Property, furniture and equipment, net - Summary of book values of lease liabilities (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | |||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Beginning balance | S/ 112,581 | S/ 234,946 | ||
Additions | 35,900 | 40,610 | ||
Interest expenses, Note 19(a) | 5,562 | 9,283 | S/ 14,004 | |
Disposals | [1] | (5,433) | (106,990) | |
Exchange differences | (279) | (2,948) | ||
Payments | (57,818) | (62,320) | ||
Ending balance | S/ 90,513 | S/ 112,581 | S/ 234,946 | |
[1]As of December 31, 2022, these withdrawals are mainly related to the sale of land carried out by Interseguro, see (d) above. |
Property, furniture and equip_5
Property, furniture and equipment, net - Summary of amortization schedule of lease liabilities (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of detailed information about property, plant and equipment [line items] | |||
Lease liabilities | S/ 90,513 | S/ 112,581 | S/ 234,946 |
2023 | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Lease liabilities | 38,095 | ||
2024 | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Lease liabilities | 2,709 | 27,497 | |
2025 | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Lease liabilities | 31,956 | 18,571 | |
2026 | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Lease liabilities | 20,801 | 15,698 | |
2027 onwards | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Lease liabilities | S/ 35,047 | S/ 12,720 |
Property, furniture and equip_6
Property, furniture and equipment, net - Summary of lease related transactions recognized in income statement (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of detailed information about property, plant and equipment [abstract] | |||
Depreciation expenses of right-of-use assets | S/ 49,305 | S/ 53,134 | S/ 58,698 |
Interest expenses of lease liabilities, Note 19(a) | 5,562 | 9,283 | 14,004 |
Expenses related to short term and low value assets leases | 9,643 | 10,958 | 11,841 |
Total amount recognized in the consolidated statement of income | S/ 64,510 | S/ 73,375 | S/ 84,543 |
Property, furniture and equip_7
Property, furniture and equipment, net - Additional information (Detail) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2023 PEN (S/) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 PEN (S/) | Dec. 31, 2022 USD ($) | |
Statement [Line Items] | ||||
Cash outflows for lease obligations | S/ 89,334,000 | S/ 146,982,000 | ||
Gains on disposals of property, plant and equipment | 15,300,000 | 11,780,000 | ||
Land [member] | ||||
Statement [Line Items] | ||||
Disposals, property, plant and equipment | 17,367,000 | $ 8,552,000 | 44,374,000 | $ 14,100,000 |
Gains on disposals of property, plant and equipment | 15,300,000 | 9,939,000 | ||
Land [member] | Gross carrying amount [member] | ||||
Statement [Line Items] | ||||
Disposals, property, plant and equipment | S/ 32,667,000 | 54,313,000 | ||
Right-of-use assets [member] | ||||
Statement [Line Items] | ||||
Gains on disposals of property, plant and equipment | 1,841,000 | |||
Retirements, property, plant and equipment | 59,051,000 | |||
Right-of-use assets [member] | Gross carrying amount [member] | ||||
Statement [Line Items] | ||||
Disposals, property, plant and equipment | 18,253,000 | |||
Right of use liabilities [Member] | ||||
Statement [Line Items] | ||||
Retirements, property, plant and equipment | S/ 77,305,000 |
Intangible and goodwill, net -
Intangible and goodwill, net - Summary of movement of intangible assets and cumulative amortization (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | S/ 1,633,202 | ||
Ending balance | 1,687,120 | S/ 1,633,202 | |
Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | 2,698,486 | 1,908,144 | S/ 1,748,222 |
Acquisition of Izipay | 569,850 | ||
Additions | 280,388 | 227,270 | 170,528 |
Disposals and write-offs | (3,842) | (6,778) | (10,606) |
Ending balance | 2,975,032 | 2,698,486 | 1,908,144 |
Accumulated depreciation and amortisation [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | (1,065,284) | (863,395) | (705,637) |
Amortization of the year | (223,015) | (202,401) | (157,758) |
Disposals and write-offs | 387 | 512 | |
Ending balance | (1,287,912) | (1,065,284) | (863,395) |
Net book value | 1,687,120 | 1,633,202 | S/ 1,044,749 |
Computer software [member] | Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | 1,305,807 | ||
Additions | 189,444 | ||
Transfers | 105,019 | ||
Ending balance | 1,600,270 | 1,305,807 | |
Computer software [member] | Accumulated depreciation and amortisation [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | (942,142) | ||
Amortization of the year | (183,981) | ||
Ending balance | (1,126,123) | (942,142) | |
Net book value | 474,147 | ||
In Transit Software [Member] | Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | 206,420 | ||
Additions | 85,575 | ||
Transfers | (104,979) | ||
Ending balance | 187,016 | 206,420 | |
In Transit Software [Member] | Accumulated depreciation and amortisation [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Net book value | 187,016 | ||
Customer-related intangible assets [member] | Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | 110,042 | ||
Ending balance | 110,042 | 110,042 | |
Customer-related intangible assets [member] | Accumulated depreciation and amortisation [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | (8,253) | ||
Amortization of the year | (11,004) | ||
Ending balance | (19,257) | (8,253) | |
Net book value | 90,785 | ||
Brand names [member] | Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | 82,546 | ||
Ending balance | 82,546 | 82,546 | |
Brand names [member] | Accumulated depreciation and amortisation [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Net book value | 82,546 | ||
Technology-based intangible assets [member] | Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | 97,016 | ||
Ending balance | 97,016 | 97,016 | |
Technology-based intangible assets [member] | Accumulated depreciation and amortisation [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | (7,276) | ||
Amortization of the year | (9,702) | ||
Ending balance | (16,978) | (7,276) | |
Net book value | 80,038 | ||
Other intangible assets [member] | Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | 227,580 | ||
Additions | 5,369 | ||
Transfers | (40) | ||
Disposals and write-offs | (3,842) | ||
Ending balance | 229,067 | 227,580 | |
Other intangible assets [member] | Accumulated depreciation and amortisation [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | (107,613) | ||
Amortization of the year | (18,328) | ||
Disposals and write-offs | 387 | ||
Ending balance | (125,554) | (107,613) | |
Net book value | 103,513 | ||
Goodwill [member] | Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Beginning balance | 669,075 | ||
Ending balance | 669,075 | S/ 669,075 | |
Goodwill [member] | Accumulated depreciation and amortisation [member] | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Net book value | S/ 669,075 |
Intangible and goodwill, net _2
Intangible and goodwill, net - Additional information (Detail) - PEN (S/) | 12 Months Ended | ||||
Dec. 31, 2023 | Dec. 31, 2022 | Apr. 30, 2022 | Mar. 31, 2022 | Nov. 30, 2017 | |
Seguros Sura [Member] | |||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||
Percentage of voting equity interests acquired | 99.39% | ||||
Growth rate used to extrapolate cash flow projections | 6.30% | 4.50% | |||
Discount rate applied to cash flow projections | 14.30% | 12.50% | |||
Cash flows and a perpetuity estimates | 10 years | ||||
Hipotecaria Sura [Member] | |||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||
Percentage of voting equity interests acquired | 99.42% | ||||
Seguros Sura and Hipotecaria Sura [Member] | |||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||
Goodwill | S/ 430,646,000 | ||||
Izipay [Member] | |||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||
Percentage of voting equity interests acquired | 50% | 50% | |||
Goodwill | S/ 238,429,000 | ||||
Growth rate used to extrapolate cash flow projections | 3% | 3% | |||
Discount rate applied to cash flow projections | 13.95% | 13.65% | |||
Cash flows and a perpetuity estimates | 5 years | ||||
Brand names [member] | Izipay [Member] | |||||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||||
Acquisition of Izipay | S/ 82,546,000 |
Other accounts receivable and_3
Other accounts receivable and other assets, net, and other accounts payable, provisions and other liabilities - Summary of assets and liabilities (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 | Jan. 01, 2022 | Dec. 31, 2021 |
Financial instruments | ||||
Other accounts receivable, net | S/ 663,090 | S/ 622,690 | ||
POS Commission receivable | 420,644 | 122,142 | ||
Accounts receivable related to derivative financial instruments | 158,101 | 515,800 | ||
Operations in process | 83,640 | 112,195 | ||
Accounts receivable from sale of investments | 63,466 | 37,987 | ||
Others | 15,640 | 24,753 | ||
Total | 1,404,581 | 1,435,567 | ||
Non-financial instruments | ||||
Tax paid to recover | 422,248 | 26,759 | ||
Deferred charges | 101,551 | 92,865 | ||
Deferred cost of POS affiliation and registration | 92,511 | 95,265 | ||
Tax credit for General Sales Tax – IGV | 32,482 | 17,623 | ||
Realizable assets, received as payment and seized through legal actions | 28,933 | 27,266 | ||
Investments in associates | 22,548 | 22,728 | ||
POS equipment supplies (*) | 14,854 | 18,698 | ||
Others | 5,440 | 7,192 | ||
Non Financial Assets | 720,567 | 308,396 | ||
Total | 2,125,148 | 1,743,963 | S/ 1,834,483 | |
Financial instruments | ||||
Contract liability with investment component | 883,268 | 873,500 | ||
Other accounts payable | 855,067 | 726,983 | ||
Third party compensation (**) | 763,039 | 386,136 | ||
Operations in process | 226,428 | 184,584 | ||
Accounts payable related to derivative financial instruments | 145,395 | 297,038 | ||
Accounts payable for acquisitions of investments | 106,955 | 53,905 | ||
Workers' profit sharing and salaries payable | 105,734 | 154,460 | ||
Lease liabilities | 90,513 | 112,581 | S/ 234,946 | |
Allowance for indirect loan losses | 17,932 | 35,495 | ||
Accounts payable to reinsurers and coinsurers | 7,260 | 5,648 | ||
Total | 3,201,591 | 2,830,330 | ||
Non-financial instruments | ||||
Taxes payable | 80,331 | 138,819 | ||
Provision for other contingencies | 70,671 | 79,304 | ||
Registration for use of POS | 21,962 | 17,029 | ||
Deferred income | 23,490 | 57,001 | ||
Others | 9,315 | 6,681 | ||
Non Financial Liabilities | 205,769 | 298,834 | ||
Total | S/ 3,407,360 | S/ 3,129,164 | S/ 2,468,242 |
Other accounts receivable and_4
Other accounts receivable and other assets, net, and other accounts payable, provisions and other liabilities - Summary of fair value of derivative financial instruments (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | ||
Disclosure of financial assets [line items] | |||
Assets | [1] | S/ 99,099 | S/ 203,082 |
Liabilities | [1] | 100,784 | 283,882 |
Notional amount | [1] | 8,056,031 | 11,729,795 |
Notional amount | 2,578,515 | 2,579,164 | |
Effective part recognized in other comprehensive income during the year | (22,671) | (54,140) | |
Assets | 59,002 | 312,718 | |
Liabilities | 44,611 | 13,156 | |
Derivative financial assets | 158,101 | 515,800 | |
Derivative financial liabilities | 145,395 | 297,038 | |
Notional amount | 10,634,546 | 14,308,959 | |
Cross currency swaps Due Jan 2023 [Member] | |||
Disclosure of financial assets [line items] | |||
Assets | [1] | 0 | |
Liabilities | [1] | 75,489 | |
Notional amount | [1] | S/ 224,485 | |
Maturity | [1] | January 2023 | |
Notional amount | S/ 1,681,974 | ||
Effective part recognized in other comprehensive income during the year | S/ (20,199) | ||
Maturity | January 2023 | ||
Hedged instruments | Corporate bonds | ||
Caption of the consolidated statements of financial position where the hedged item has been recognized | Bonds, notes and obligations outstanding | ||
Assets | S/ 237,438 | ||
Foreign Currency Options [Member] | |||
Disclosure of financial assets [line items] | |||
Assets | [1] | 99 | |
Liabilities | [1] | 463 | |
Notional amount | [1] | S/ 80,151 | |
Maturity | [1] | Between January 2023 and December 2023 | |
Forward Exchange Contracts Due Between January 2023 And December 2023 [Member] | |||
Disclosure of financial assets [line items] | |||
Assets | [1] | S/ 58,201 | |
Liabilities | [1] | 27,556 | |
Notional amount | [1] | S/ 6,328,060 | |
Maturity | [1] | Between January 2023 and December 2023 | |
Currency Swaps Due Between January 2023 and March 2029 [Member] | |||
Disclosure of financial assets [line items] | |||
Assets | [1] | S/ 67,737 | |
Liabilities | [1] | 38,551 | |
Notional amount | [1] | S/ 2,424,566 | |
Maturity | [1] | Between January 2023 and June 2036 | |
Interest Rate Swaps Due Between January 2023 And June 2036 [Member] | |||
Disclosure of financial assets [line items] | |||
Assets | [1] | S/ 77,045 | |
Liabilities | [1] | 141,823 | |
Notional amount | [1] | S/ 2,672,533 | |
Maturity | [1] | Between January 2023 and March 2029 | |
Cross Currency Swaps Due Oct 2027 One [Member] | |||
Disclosure of financial assets [line items] | |||
Notional amount | S/ 573,000 | ||
Effective part recognized in other comprehensive income during the year | S/ (33,565) | ||
Maturity | October 2027 | ||
Hedged instruments | Senior bond | ||
Caption of the consolidated statements of financial position where the hedged item has been recognized | Bonds, notes and obligations outstanding | ||
Assets | S/ 75,280 | ||
Cross Currency Swaps Due Aug 2024 One [Member] | |||
Disclosure of financial assets [line items] | |||
Notional amount | 114,420 | ||
Effective part recognized in other comprehensive income during the year | S/ 360 | ||
Maturity | August 2024 | ||
Hedged instruments | Due to banks | ||
Caption of the consolidated statements of financial position where the hedged item has been recognized | Due to banks and correspondents | ||
Liabilities | S/ 3,916 | ||
Cross Currency Swaps Due Oct 2024 One [Member] | |||
Disclosure of financial assets [line items] | |||
Notional amount | 114,420 | ||
Effective part recognized in other comprehensive income during the year | S/ (355) | ||
Maturity | October 2024 | ||
Hedged instruments | Due to banks | ||
Caption of the consolidated statements of financial position where the hedged item has been recognized | Due to banks and correspondents | ||
Liabilities | S/ 6,295 | ||
Cross Currency Swaps Due Jan 2025 One [Member] | |||
Disclosure of financial assets [line items] | |||
Notional amount | 57,210 | ||
Effective part recognized in other comprehensive income during the year | S/ (225) | ||
Maturity | January 2025 | ||
Hedged instruments | Due to banks | ||
Caption of the consolidated statements of financial position where the hedged item has been recognized | Due to banks and correspondents | ||
Liabilities | S/ 931 | ||
Cross Currency Swaps Due Nov 2024 One [Member] | |||
Disclosure of financial assets [line items] | |||
Notional amount | 38,140 | ||
Effective part recognized in other comprehensive income during the year | S/ (156) | ||
Maturity | November 2024 | ||
Hedged instruments | Due to banks | ||
Caption of the consolidated statements of financial position where the hedged item has been recognized | Due to banks and correspondents | ||
Liabilities | S/ 2,014 | ||
Forward Exchange Contracts Due between January 2024 and December 2025 [member] | |||
Disclosure of financial assets [line items] | |||
Assets | [1] | 36,595 | |
Liabilities | [1] | 29,517 | |
Notional amount | [1] | S/ 4,875,692 | |
Maturity | [1] | Between January 2024 and December 2025 | |
Interest Rate Swaps Due between March 2024 and June 2036 [member] | |||
Disclosure of financial assets [line items] | |||
Assets | [1] | S/ 40,350 | |
Liabilities | [1] | 25,196 | |
Notional amount | [1] | S/ 1,530,493 | |
Maturity | [1] | Between March 2024 and June 2036 | |
Cross Swaps Due between January 2024 and April 2028 [member] | |||
Disclosure of financial assets [line items] | |||
Assets | [1] | S/ 20,982 | |
Liabilities | [1] | 44,897 | |
Notional amount | [1] | S/ 1,370,799 | |
Maturity | [1] | Between January 2024 and April 2028 | |
Options Due between January 2024 and December 2024 [member] | |||
Disclosure of financial assets [line items] | |||
Assets | [1] | S/ 1,172 | |
Liabilities | [1] | 1,174 | |
Notional amount | [1] | S/ 279,047 | |
Maturity | [1] | Between January 2024 and December 2024 | |
Cross Currency Swaps Due October 2026 [member] | |||
Disclosure of financial assets [line items] | |||
Notional amount | S/ 1,112,700 | ||
Effective part recognized in other comprehensive income during the year | S/ (10,199) | ||
Maturity | October 2026 | ||
Hedged instruments | Corporate bonds | ||
Caption of the consolidated statements of financial position where the hedged item has been recognized | Bonds, notes and obligations outstanding | ||
Assets | S/ 2,958 | ||
Liabilities | 7,383 | ||
Cross Currency Swaps Due October 2027 [member] | |||
Disclosure of financial assets [line items] | |||
Notional amount | 556,950 | ||
Effective part recognized in other comprehensive income during the year | S/ (3,309) | ||
Maturity | October 2027 | ||
Hedged instruments | Senior bond | ||
Caption of the consolidated statements of financial position where the hedged item has been recognized | Bonds, notes and obligations outstanding | ||
Assets | S/ 56,044 | ||
Cross Currency Swaps Due between January 2025 and June 2025 [member] | |||
Disclosure of financial assets [line items] | |||
Notional amount | 241,085 | ||
Effective part recognized in other comprehensive income during the year | S/ (1,374) | ||
Maturity | Between January 2025 and June 2025 | ||
Hedged instruments | Due to banks | ||
Caption of the consolidated statements of financial position where the hedged item has been recognized | Due to banks and correspondents | ||
Liabilities | S/ 3,020 | ||
Cross Currency Swaps Due May 2025 [member] | |||
Disclosure of financial assets [line items] | |||
Notional amount | 185,450 | ||
Effective part recognized in other comprehensive income during the year | S/ (1,234) | ||
Maturity | May 2025 | ||
Hedged instruments | Due to banks | ||
Caption of the consolidated statements of financial position where the hedged item has been recognized | Due to banks and correspondents | ||
Liabilities | S/ 3,823 | ||
Cross Currency Swaps Due August 2024 [member] | |||
Disclosure of financial assets [line items] | |||
Notional amount | 111,270 | ||
Effective part recognized in other comprehensive income during the year | S/ (578) | ||
Maturity | August 2024 | ||
Hedged instruments | Due to banks | ||
Caption of the consolidated statements of financial position where the hedged item has been recognized | Due to banks and correspondents | ||
Liabilities | S/ 6,708 | ||
Cross Currency Swaps Due October 2024 [member] | |||
Disclosure of financial assets [line items] | |||
Notional amount | 111,270 | ||
Effective part recognized in other comprehensive income during the year | S/ (277) | ||
Maturity | October 2024 | ||
Hedged instruments | Due to banks | ||
Caption of the consolidated statements of financial position where the hedged item has been recognized | Due to banks and correspondents | ||
Liabilities | S/ 9,442 | ||
Cross Currency Swaps Due October 2027 One [member] | |||
Disclosure of financial assets [line items] | |||
Notional amount | 74,260 | ||
Effective part recognized in other comprehensive income during the year | S/ (2,401) | ||
Maturity | October 2027 | ||
Hedged instruments | Senior bond | ||
Caption of the consolidated statements of financial position where the hedged item has been recognized | Bonds, notes and obligations outstanding | ||
Liabilities | S/ 5,245 | ||
Cross Currency Swaps Due October 2027 Two [member] | |||
Disclosure of financial assets [line items] | |||
Notional amount | 74,260 | ||
Effective part recognized in other comprehensive income during the year | S/ (1,923) | ||
Maturity | October 2027 | ||
Hedged instruments | Senior bond | ||
Caption of the consolidated statements of financial position where the hedged item has been recognized | Bonds, notes and obligations outstanding | ||
Liabilities | S/ 5,041 | ||
Cross Currency Swaps Due February 2025 [member] | |||
Disclosure of financial assets [line items] | |||
Notional amount | 74,180 | ||
Effective part recognized in other comprehensive income during the year | S/ (619) | ||
Maturity | February 2025 | ||
Hedged instruments | Due to banks | ||
Caption of the consolidated statements of financial position where the hedged item has been recognized | Due to banks and correspondents | ||
Liabilities | S/ 811 | ||
Cross Currency Swaps Due November 2024 [member] | |||
Disclosure of financial assets [line items] | |||
Notional amount | 37,090 | ||
Effective part recognized in other comprehensive income during the year | S/ (88) | ||
Maturity | November 2024 | ||
Hedged instruments | Due to banks | ||
Caption of the consolidated statements of financial position where the hedged item has been recognized | Due to banks and correspondents | ||
Liabilities | S/ 3,138 | ||
Cross Currency Swaps [member] | |||
Disclosure of financial assets [line items] | |||
Effective part recognized in other comprehensive income during the year | S/ (669) | ||
Hedged instruments | Corporate bonds | ||
Caption of the consolidated statements of financial position where the hedged item has been recognized | Bonds, notes and obligations outstanding | ||
[1]During the years 2023, 2022 and 2021, the Group recognized gains for S/68,315,000 and losses for S/4,523,000 and S/60,275,000, respectively, as a result of the valuation of derivative financial instruments held for trading, which were recorded in the caption “Net (loss) gain from financial assets at fair value through profit or loss” in the consolidated statement of income. |
Other accounts receivable and_5
Other accounts receivable and other assets, net, and other accounts payable, provisions and other liabilities - Summary of fair value of derivative financial instruments (Parenthetical) (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of financial assets [line items] | |||
Hedge ineffectiveness | S/ 0 | S/ 0 | |
Losses recognised for valuation of derivative financial instruments held fro trading | 15,181 | (308,256) | S/ 63,097 |
Senior Notes Due 2020 [Member] | |||
Disclosure of financial assets [line items] | |||
Losses recognised for valuation of derivative financial instruments held fro trading | S/ 68,315,000 | S/ 4,523,000 | S/ 60,275,000 |
Other accounts receivable and_6
Other accounts receivable and other assets, net, and other accounts payable, provisions and other liabilities - Summary of future effect of current cash flow hedges (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Disclosure of detailed information about hedges [line items] | ||
Consolidated statement of income – (Expense) income | S/ (31,933) | S/ (9,262) |
Not later than one year [member] | ||
Disclosure of detailed information about hedges [line items] | ||
Consolidated statement of income – (Expense) income | (2,139) | 429 |
Later than one year and not later than three years [member] | ||
Disclosure of detailed information about hedges [line items] | ||
Consolidated statement of income – (Expense) income | (13,717) | (731) |
Later than three years [member] | ||
Disclosure of detailed information about hedges [line items] | ||
Consolidated statement of income – (Expense) income | S/ (16,077) | S/ (8,960) |
Other accounts receivable and_7
Other accounts receivable and other assets, net, and other accounts payable, provisions and other liabilities -Summary of cash flow hedges reclassified to consolidated income statements (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Disclosure of financial assets [line items] | ||
Reclassified gain (loss) for cash flow hedges | S/ (42,693) | S/ (128,650) |
Interest expenses from cash flow hedges | ||
Disclosure of financial assets [line items] | ||
Reclassified gain (loss) for cash flow hedges | (116,885) | (78,300) |
Interest income from cash flow hedges | ||
Disclosure of financial assets [line items] | ||
Reclassified gain (loss) for cash flow hedges | 92,637 | 62,158 |
Expenses for exchange differences from cash flow hedges | ||
Disclosure of financial assets [line items] | ||
Reclassified gain (loss) for cash flow hedges | (136,625) | (337,907) |
Income for exchange differences from cash flow hedges | ||
Disclosure of financial assets [line items] | ||
Reclassified gain (loss) for cash flow hedges | S/ 118,180 | S/ 225,399 |
Other accounts receivable and_8
Other accounts receivable and other assets, net, and other accounts payable, provisions and other liabilities - Summary of hedging instruments and its cash flow hedges due to maturities (Detail) - Currency swap contract [member] | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items] | ||
Notional | 2,578,515,000 | 2,579,164,000 |
Not later than one month [member] | ||
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items] | ||
Notional | 1,681,974 | |
Average interest rate in US Dollars | 3.38% | |
Average interest rate in Soles | 4.87% | |
Average exchange rate Soles / US Dollars | 3.26 | |
Later than three months and not later than one year [member] | ||
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items] | ||
Notional | 259,630 | |
Average interest rate in US Dollars | 3.60% | |
Average interest rate in Soles | 8.09% | |
Average exchange rate Soles / US Dollars | 3.94 | |
Later than one year and not later than five years [member] | ||
Disclosure of information about terms and conditions of hedging instruments and how they affect future cash flows [line items] | ||
Notional | 2,318,885,000 | 897,190,000 |
Average interest rate in US Dollars | 3.07% | 3.80% |
Average interest rate in Soles | 3.86% | 5.03% |
Average exchange rate Soles / US Dollars | 3.66 | 3.58 |
Other accounts receivable and_9
Other accounts receivable and other assets, net, and other accounts payable, provisions and other liabilities - Summary of derivatives subject to reform of reference interest rate (Detail) S/ in Thousands | 12 Months Ended | |
Dec. 31, 2022 PEN (S/) | [1] | |
Position Purchased [Member] | ||
Disclosure of financial assets [line items] | ||
Nominal value | S/ 486,062 | |
Position Purchased [Member] | Currency swap contract [member] | ||
Disclosure of financial assets [line items] | ||
Nominal value | 600,482 | |
Position Purchased 3 Month LIBOR [Member] | Interest rate swap contract [member] | ||
Disclosure of financial assets [line items] | ||
Nominal value | S/ 208,002 | |
Average term in years | 5 years 9 months 18 days | |
Position Purchased 6 Month LIBOR [Member] | Interest rate swap contract [member] | ||
Disclosure of financial assets [line items] | ||
Nominal value | S/ 278,060 | |
Average term in years | 8 years 2 months 12 days | |
Position Purchased 6 Month LIBOR [Member] | Currency swap contract [member] | ||
Disclosure of financial assets [line items] | ||
Nominal value | S/ 114,420 | |
Average term in years | 1 year 6 months | |
Position Sold [Member] | ||
Disclosure of financial assets [line items] | ||
Nominal value | S/ 598,585 | |
Position Sold [Member] | Currency swap contract [member] | ||
Disclosure of financial assets [line items] | ||
Nominal value | 800,727 | |
Position Sold 3 Month LIBOR [Member] | Interest rate swap contract [member] | ||
Disclosure of financial assets [line items] | ||
Nominal value | S/ 251,873 | |
Average term in years | 5 years 3 months 18 days | |
Position Sold 6 Month LIBOR [Member] | Interest rate swap contract [member] | ||
Disclosure of financial assets [line items] | ||
Nominal value | S/ 346,712 | |
Average term in years | 7 years 1 month 6 days | |
Position Sold 6 Month LIBOR [Member] | Currency swap contract [member] | ||
Disclosure of financial assets [line items] | ||
Nominal value | S/ 202,142 | |
Average term in years | 1 year 9 months 18 days | |
[1]Balances as of December 31, 2022, that changed to the new benchmark rate on June 30, 2023. |
Other accounts receivable an_10
Other accounts receivable and other assets, net, and other accounts payable, provisions and other liabilities - Summary of Non-Derivaties Financial Instruments Classified as Hedge Accounting (Detail) - Significant interest rate benchmarks subject to interest rate benchmark reform [member] S/ in Thousands | 12 Months Ended |
Dec. 31, 2022 PEN (S/) | |
Disclosure Of Detailed Information About Non derivatives Subject To Reform Of Reference Interest Rate [Line Items] | |
Nonderivative Asset Notional Amount | S/ 663,385 |
Nonderivative Liability Notional Amount | 1,144,200 |
Loans 1-month LIBOR [Member] | |
Disclosure Of Detailed Information About Non derivatives Subject To Reform Of Reference Interest Rate [Line Items] | |
Nonderivative Asset Notional Amount | 0 |
Loans 3-month LIBOR [Member] | |
Disclosure Of Detailed Information About Non derivatives Subject To Reform Of Reference Interest Rate [Line Items] | |
Nonderivative Asset Notional Amount | S/ 465,494 |
Nonderivative Financial Instruments Average Term | 3 years 9 months 18 days |
Loans 6-month LIBOR [Member] | |
Disclosure Of Detailed Information About Non derivatives Subject To Reform Of Reference Interest Rate [Line Items] | |
Nonderivative Asset Notional Amount | S/ 197,891 |
Nonderivative Financial Instruments Average Term | 11 years 9 months 18 days |
Issuances 3-month LIBOR [Member] | |
Disclosure Of Detailed Information About Non derivatives Subject To Reform Of Reference Interest Rate [Line Items] | |
Nonderivative Liability Notional Amount | S/ 1,144,200 |
Nonderivative Financial Instruments Average Term | 5 years |
Deposits and obligations - Summ
Deposits and obligations - Summary of deposits and obligations (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 | Jan. 01, 2022 |
Deposits and Obligations [Abstract] | |||
Saving deposits | S/ 17,756,097 | S/ 20,911,746 | |
Time deposits | 17,288,629 | 12,866,602 | |
Demand deposits | 13,376,375 | 13,824,824 | |
Compensation for service time | 760,551 | 921,288 | |
Other obligations | 6,582 | 6,248 | |
Deposits From Customers | S/ 49,188,234 | S/ 48,530,708 | S/ 48,897,944 |
Deposits and obligations - Su_2
Deposits and obligations - Summary of deposits and obligations (Parenthetical) (Detail) | 12 Months Ended | |
Dec. 31, 2023 PEN (S/) Clients | Dec. 31, 2022 PEN (S/) Clients | |
Statement [Line Items] | ||
Deposits and obligations covered by Peruvian Deposit Insurance Fund | S/ 18,668,431,000 | S/ 18,368,816,000 |
Deposit insurance fund for each client coverage | S/ 123,810 | S/ 125,603 |
Act No 31480 [Member] | ||
Statement [Line Items] | ||
Number of clients | Clients | 308,000 | 261,000 |
Total amount withdrawn | S/ 1,061,734,000 | S/ 767,470,000 |
Percentage of severance indemnity deposits accumulated until the date of the withdrawal | 100% |
Deposits and obligations - Su_3
Deposits and obligations - Summary of time deposits classified by maturity (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Summary of time deposits classified by maturity [Line Items] | ||
Balances on term deposits from customers | S/ 17,288,629 | S/ 12,866,602 |
Up to 1 month [member] | ||
Summary of time deposits classified by maturity [Line Items] | ||
Balances on term deposits from customers | 6,131,655 | 2,797,703 |
From 1 to 3 months [member] | ||
Summary of time deposits classified by maturity [Line Items] | ||
Balances on term deposits from customers | 3,890,589 | 1,973,288 |
From 3 months to 1 year [member] | ||
Summary of time deposits classified by maturity [Line Items] | ||
Balances on term deposits from customers | 6,458,103 | 6,788,680 |
From 1 to 5 years [member] | ||
Summary of time deposits classified by maturity [Line Items] | ||
Balances on term deposits from customers | 512,280 | 1,023,473 |
Over 5 years [member] | ||
Summary of time deposits classified by maturity [Line Items] | ||
Balances on term deposits from customers | S/ 296,002 | S/ 283,458 |
Due to banks and corresponden_3
Due to banks and correspondents - Disclosure detail of dues to banks and correspondents (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 | Jan. 01, 2022 |
Banks And Correspondents [Abstract] | |||
Banco Central de Reserva del Perú—BCRP | S/ 3,683,687 | S/ 4,481,138 | |
Promotional credit lines | 2,014,600 | 1,863,482 | |
Loans received from foreign entities | 2,895,637 | 339,446 | |
Loans received from Peruvian entities | 309,525 | 357,770 | |
Bank Acceptance Liabilities Subtotal | 8,903,449 | 7,041,836 | |
Interest and commissions payable | 122,481 | 58,810 | |
Short term | 4,852,495 | 2,433,459 | |
Long term | 4,173,435 | 4,667,187 | |
Total | S/ 9,025,930 | S/ 7,100,646 | S/ 8,522,849 |
Due to banks and corresponden_4
Due to banks and correspondents - Disclosure detail of dues to banks and correspondents (Parenthetical) (Detail) | 12 Months Ended | |||
Dec. 31, 2023 PEN (S/) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 PEN (S/) | Dec. 31, 2022 USD ($) | |
Disclosure Of Dues To Banks And Correspondents [Line Items] | ||||
Interest payable | S/ 106,145,000 | S/ 134,679,000 | ||
Notional amount | 10,634,546,000 | 14,308,959,000 | ||
COFIDE [Member] | Currency Repurchase Obligations [Member] | ||||
Disclosure Of Dues To Banks And Correspondents [Line Items] | ||||
Notional amount | 42,461,000 | |||
COFIDE [Member] | Currency Repurchase Obligations [Member] | Bottom of range [member] | ||||
Disclosure Of Dues To Banks And Correspondents [Line Items] | ||||
Borrowings Effective Annual Interest Rate | 5.81 | 7.55 | ||
COFIDE [Member] | Currency Repurchase Obligations [Member] | Top of range [member] | ||||
Disclosure Of Dues To Banks And Correspondents [Line Items] | ||||
Borrowings Effective Annual Interest Rate | 10.62 | 7.67 | ||
COFIDE [Member] | Peruvian Sovereign Bonds And Certificate Of Deposits [Member] | ||||
Disclosure Of Dues To Banks And Correspondents [Line Items] | ||||
Repurchase obligations | S/ 3,143,529,000 | 2,571,763,000 | ||
Interest payable | 45,150,000 | |||
COFIDE [Member] | Peruvian Sovereign Bonds And Certificate Of Deposits [Member] | Bottom of range [member] | ||||
Disclosure Of Dues To Banks And Correspondents [Line Items] | ||||
Borrowings maturity | January 2024 and October 2024 | January 2024 and October 2024 | ||
Borrowings Effective Annual Interest Rate | $ | $ 0.5 | $ 0.5 | ||
COFIDE [Member] | Peruvian Sovereign Bonds And Certificate Of Deposits [Member] | Top of range [member] | ||||
Disclosure Of Dues To Banks And Correspondents [Line Items] | ||||
Repurchase obligations | S/ 59,864,000 | |||
Borrowings Effective Annual Interest Rate | $ | $ 7.33 | $ 8.64 | ||
COFIDE [Member] | Promotional Credit Lines [Member] | Bottom of range [member] | ||||
Disclosure Of Dues To Banks And Correspondents [Line Items] | ||||
Borrowings maturity | December 2029 | December 2029 | ||
Borrowings Effective Annual Interest Rate | S/ 5.81 | S/ 5.81 | ||
COFIDE [Member] | Promotional Credit Lines [Member] | Top of range [member] | ||||
Disclosure Of Dues To Banks And Correspondents [Line Items] | ||||
Borrowings maturity | October 2034 | October 2034 | January 2027 | January 2027 |
Borrowings Effective Annual Interest Rate | S/ 10.62 | S/ 8.05 | ||
COFIDE [Member] | Debit in local Currency [Member] | ||||
Disclosure Of Dues To Banks And Correspondents [Line Items] | ||||
Repurchase obligations | 540,158,000 | 1,909,375,000 | ||
Interest payable | S/ 114,000 | S/ 4,049,000 | ||
COFIDE [Member] | Debit in local Currency [Member] | Bottom of range [member] | ||||
Disclosure Of Dues To Banks And Correspondents [Line Items] | ||||
Borrowings maturity | July 2024 and November 2025 | July 2024 and November 2025 | May 2023 and November 2025 | May 2023 and November 2025 |
Borrowings Effective Annual Interest Rate | $ 0.5 | S/ 7.55 | $ 0.5 | |
COFIDE [Member] | Debit in local Currency [Member] | Top of range [member] | ||||
Disclosure Of Dues To Banks And Correspondents [Line Items] | ||||
Borrowings Effective Annual Interest Rate | 7.67 | |||
FMV Loans [Member] | Promotional Credit Lines [Member] | ||||
Disclosure Of Dues To Banks And Correspondents [Line Items] | ||||
Borrowings Effective Annual Interest Rate | S/ 7.75 | 7.75 | ||
FMV Loans [Member] | Promotional Credit Lines [Member] | Bottom of range [member] | ||||
Disclosure Of Dues To Banks And Correspondents [Line Items] | ||||
Borrowings maturity | January 2024 | January 2024 | ||
Borrowings Effective Annual Interest Rate | S/ 5 | 5 | ||
FMV Loans [Member] | Promotional Credit Lines [Member] | Top of range [member] | ||||
Disclosure Of Dues To Banks And Correspondents [Line Items] | ||||
Borrowings maturity | December 2048 | December 2048 | ||
Borrowings Effective Annual Interest Rate | S/ 8.3 | S/ 8.3 |
Due to banks and corresponden_5
Due to banks and correspondents - Loan received from foreign entities (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Disclosure Detail Of Dues To Foreign Bank [Line Items] | ||
Loan Received From Foreign Entities | S/ 2,895,637 | S/ 339,446 |
Standard Chartered Bank London [Member] | UNITED KINGDOM | ||
Disclosure Detail Of Dues To Foreign Bank [Line Items] | ||
Borrowings Maturity | 2026 | |
Loan Received From Foreign Entities | S/ 662,161 | 0 |
Wells Fargo [Member] | UNITED STATES | ||
Disclosure Detail Of Dues To Foreign Bank [Line Items] | ||
Borrowings Maturity | 2024 | |
Loan Received From Foreign Entities | S/ 296,720 | 0 |
Citigroup Global Markets Inc [Member] | UNITED STATES | ||
Disclosure Detail Of Dues To Foreign Bank [Line Items] | ||
Borrowings Maturity | 2026 | |
Loan Received From Foreign Entities | S/ 289,867 | 0 |
Sumitomo Mitsui Banking [Member] | Japan | ||
Disclosure Detail Of Dues To Foreign Bank [Line Items] | ||
Borrowings Maturity | 2026 | |
Loan Received From Foreign Entities | S/ 259,630 | 0 |
Banco del Estado de Chile [Member] | CHILE | ||
Disclosure Detail Of Dues To Foreign Bank [Line Items] | ||
Borrowings Maturity | 2025 | |
Loan Received From Foreign Entities | S/ 241,085 | 57,210 |
Bank of America [Member] | UNITED STATES | ||
Disclosure Detail Of Dues To Foreign Bank [Line Items] | ||
Borrowings Maturity | 2024 | |
Loan Received From Foreign Entities | S/ 203,995 | 0 |
Bank of Montreal [Member] | Canada | ||
Disclosure Detail Of Dues To Foreign Bank [Line Items] | ||
Borrowings Maturity | 2024 | |
Loan Received From Foreign Entities | S/ 185,450 | 0 |
Banco Bilbao Vizcaya Argentaria NY Branch [Member] | SPAIN | ||
Disclosure Detail Of Dues To Foreign Bank [Line Items] | ||
Borrowings Maturity | 2025 | |
Loan Received From Foreign Entities | S/ 185,450 | 0 |
Caixabank S.A. Barcelona [Member] | SPAIN | ||
Disclosure Detail Of Dues To Foreign Bank [Line Items] | ||
Borrowings Maturity | 2024 | |
Loan Received From Foreign Entities | S/ 166,905 | 114,420 |
JP Morgan Chase Bank NY [Member] | UNITED STATES | ||
Disclosure Detail Of Dues To Foreign Bank [Line Items] | ||
Borrowings Maturity | 2024 | |
Loan Received From Foreign Entities | S/ 111,270 | 114,420 |
Bank of new york [Member] | UNITED STATES | ||
Disclosure Detail Of Dues To Foreign Bank [Line Items] | ||
Borrowings Maturity | 2024 | |
Loan Received From Foreign Entities | S/ 92,725 | 0 |
Bank J. Safra Sarasin [Member] | SWITZERLAND | ||
Disclosure Detail Of Dues To Foreign Bank [Line Items] | ||
Borrowings Maturity | 2024 / 2023 | |
Loan Received From Foreign Entities | S/ 81,598 | 53,396 |
Standard Chartered Bank NY [Member] | UNITED STATES | ||
Disclosure Detail Of Dues To Foreign Bank [Line Items] | ||
Borrowings Maturity | 2025 | |
Loan Received From Foreign Entities | S/ 74,180 | 0 |
HSBC Branch India [Member] | India | ||
Disclosure Detail Of Dues To Foreign Bank [Line Items] | ||
Borrowings Maturity | 2024 | |
Loan Received From Foreign Entities | S/ 37,090 | 0 |
Banco Interamericano de Desarrollo [Member] | Multilateral | ||
Disclosure Detail Of Dues To Foreign Bank [Line Items] | ||
Borrowings Maturity | 2024 | |
Loan Received From Foreign Entities | S/ 7,511 | S/ 0 |
Due to banks and corresponden_6
Due to banks and correspondents - Loan received from foreign entities (Parenthetical) (Detail) | 1 Months Ended | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2023 USD ($) | Oct. 31, 2023 USD ($) | Sep. 30, 2023 USD ($) | Jul. 31, 2023 USD ($) | Jun. 30, 2023 PEN (S/) | May 31, 2023 USD ($) | Apr. 30, 2023 PEN (S/) | Apr. 30, 2023 USD ($) | Mar. 31, 2023 PEN (S/) | Mar. 31, 2023 USD ($) | Jan. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) | Sep. 30, 2022 USD ($) | Jul. 31, 2022 USD ($) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2023 PEN (S/) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 PEN (S/) | Dec. 31, 2022 USD ($) | |
Disclosure Of Dues To Banks And Correspondents [Line Items] | ||||||||||||||||||||
Notional amount | S/ | S/ 10,634,546,000 | S/ 14,308,959,000 | ||||||||||||||||||
Derivative Liabilities Notional Amount | S/ | 2,578,515,000 | 2,579,164,000 | ||||||||||||||||||
Cash flow hedges [member] | ||||||||||||||||||||
Disclosure Of Dues To Banks And Correspondents [Line Items] | ||||||||||||||||||||
Derivative Liabilities Notional Amount | S/ 38,140,000 | $ 10,000,000 | ||||||||||||||||||
Bank J Sarfa Sarasin [Member] | ||||||||||||||||||||
Disclosure Of Dues To Banks And Correspondents [Line Items] | ||||||||||||||||||||
Borrowings Effective Annual Interest Rate | $ 5.61 | |||||||||||||||||||
Proceeds from long term borrowings | 14,000,000 | |||||||||||||||||||
Caixabank S.A. Barcelona [Member] | ||||||||||||||||||||
Disclosure Of Dues To Banks And Correspondents [Line Items] | ||||||||||||||||||||
Proceeds from long term borrowings | $ 15,000,000 | $ 30,000,000 | ||||||||||||||||||
Borrowings, interest rate | 7.74% | 7.74% | ||||||||||||||||||
Derivative Liabilities Notional Amount | S/ 114,420,000 | $ 30,000,000 | ||||||||||||||||||
Caixabank S.A. Barcelona [Member] | Currency swap contract [member] | ||||||||||||||||||||
Disclosure Of Dues To Banks And Correspondents [Line Items] | ||||||||||||||||||||
Financial instruments designated as hedging instruments, at fair value | $ 30,000,000 | |||||||||||||||||||
Derivative Liabilities Notional Amount | S/ | S/ 111,270,000 | |||||||||||||||||||
Caixabank S.A. Barcelona [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member] | ||||||||||||||||||||
Disclosure Of Dues To Banks And Correspondents [Line Items] | ||||||||||||||||||||
Borrowings adjustment to interest rate basis | 1.35% | 0.74% | 0.74% | |||||||||||||||||
JP Morgan Chase Bank NY [Member] | ||||||||||||||||||||
Disclosure Of Dues To Banks And Correspondents [Line Items] | ||||||||||||||||||||
Proceeds from long term borrowings | $ 30,000,000 | |||||||||||||||||||
Borrowings, interest rate | 8.40% | 8.40% | ||||||||||||||||||
JP Morgan Chase Bank NY [Member] | Cash flow hedges [member] | ||||||||||||||||||||
Disclosure Of Dues To Banks And Correspondents [Line Items] | ||||||||||||||||||||
Derivative Liabilities Notional Amount | S/ 114,420,000 | $ 30,000,000 | ||||||||||||||||||
JP Morgan Chase Bank NY [Member] | Currency swap contract [member] | ||||||||||||||||||||
Disclosure Of Dues To Banks And Correspondents [Line Items] | ||||||||||||||||||||
Financial instruments designated as hedging instruments, at fair value | $ 30,000,000 | |||||||||||||||||||
Derivative Liabilities Notional Amount | S/ | S/ 111,270,000 | |||||||||||||||||||
JP Morgan Chase Bank NY [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member] | ||||||||||||||||||||
Disclosure Of Dues To Banks And Correspondents [Line Items] | ||||||||||||||||||||
Borrowings adjustment to interest rate basis | 1.75% | |||||||||||||||||||
Banco del Estado de Chile [Member] | ||||||||||||||||||||
Disclosure Of Dues To Banks And Correspondents [Line Items] | ||||||||||||||||||||
Proceeds from long term borrowings | 35,000,000 | $ 20,000,000 | ||||||||||||||||||
Banco del Estado de Chile [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member] | ||||||||||||||||||||
Disclosure Of Dues To Banks And Correspondents [Line Items] | ||||||||||||||||||||
Borrowings adjustment to interest rate basis | 0.73% | 0.78% | 0.78% | |||||||||||||||||
Standard Chartered Bank London [Member] | ||||||||||||||||||||
Disclosure Of Dues To Banks And Correspondents [Line Items] | ||||||||||||||||||||
Proceeds from long term borrowings | S/ | S/ 380,377,000 | S/ 281,784,000 | ||||||||||||||||||
Borrowings Nominal Annual Interest Rate | 6.55% | 7.51% | 7.51% | |||||||||||||||||
Wells Fargo [Member] | ||||||||||||||||||||
Disclosure Of Dues To Banks And Correspondents [Line Items] | ||||||||||||||||||||
Proceeds from long term borrowings | $ 50,000,000 | $ 30,000,000 | ||||||||||||||||||
Wells Fargo [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member] | ||||||||||||||||||||
Disclosure Of Dues To Banks And Correspondents [Line Items] | ||||||||||||||||||||
Borrowings adjustment to interest rate basis | 0.73% | 0.73% | ||||||||||||||||||
Citigroup Global Markets Inc [Member] | ||||||||||||||||||||
Disclosure Of Dues To Banks And Correspondents [Line Items] | ||||||||||||||||||||
Proceeds from long term borrowings | S/ | S/ 289,867,000 | |||||||||||||||||||
Borrowings Nominal Annual Interest Rate | 7.50% | |||||||||||||||||||
Citigroup Global Markets Inc [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member] | ||||||||||||||||||||
Disclosure Of Dues To Banks And Correspondents [Line Items] | ||||||||||||||||||||
Proceeds from long term borrowings | $ 70,000,000 | |||||||||||||||||||
Borrowings adjustment to interest rate basis | 1.60% | 1.60% | ||||||||||||||||||
Sumitomo Mitsui Banking [Member] | ||||||||||||||||||||
Disclosure Of Dues To Banks And Correspondents [Line Items] | ||||||||||||||||||||
Proceeds from long term borrowings | $ 50,000,000 | $ 15,000,000 | ||||||||||||||||||
Borrowings, interest rate | 8.59% | 7.88% | 7.88% | |||||||||||||||||
Sumitomo Mitsui Banking [Member] | Cash flow hedges [member] | ||||||||||||||||||||
Disclosure Of Dues To Banks And Correspondents [Line Items] | ||||||||||||||||||||
Derivative Liabilities Notional Amount | S/ 57,210,000 | $ 15,000,000 | ||||||||||||||||||
Sumitomo Mitsui Banking [Member] | Currency swap contract [member] | ||||||||||||||||||||
Disclosure Of Dues To Banks And Correspondents [Line Items] | ||||||||||||||||||||
Financial instruments designated as hedging instruments, at fair value | $ 65,000,000 | |||||||||||||||||||
Derivative Liabilities Notional Amount | S/ | S/ 241,085,000 | |||||||||||||||||||
Sumitomo Mitsui Banking [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member] | ||||||||||||||||||||
Disclosure Of Dues To Banks And Correspondents [Line Items] | ||||||||||||||||||||
Borrowings adjustment to interest rate basis | 1.70% | 1.99% | 1.99% | |||||||||||||||||
Bank of Montreal [Member] | ||||||||||||||||||||
Disclosure Of Dues To Banks And Correspondents [Line Items] | ||||||||||||||||||||
Proceeds from long term borrowings | $ 50,000,000 | |||||||||||||||||||
Bank of Montreal [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member] | ||||||||||||||||||||
Disclosure Of Dues To Banks And Correspondents [Line Items] | ||||||||||||||||||||
Borrowings adjustment to interest rate basis | 0.95% | 0.95% | ||||||||||||||||||
Banco Bilbao Vizcaya Argentaria NY Branch [Member] | ||||||||||||||||||||
Disclosure Of Dues To Banks And Correspondents [Line Items] | ||||||||||||||||||||
Proceeds from long term borrowings | $ 50,000,000 | |||||||||||||||||||
Borrowings, interest rate | 7.90% | |||||||||||||||||||
Banco Bilbao Vizcaya Argentaria NY Branch [Member] | Currency swap contract [member] | ||||||||||||||||||||
Disclosure Of Dues To Banks And Correspondents [Line Items] | ||||||||||||||||||||
Financial instruments designated as hedging instruments, at fair value | $ 50,000,000 | |||||||||||||||||||
Derivative Liabilities Notional Amount | $ 185,450,000 | |||||||||||||||||||
Banco Bilbao Vizcaya Argentaria NY Branch [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member] | ||||||||||||||||||||
Disclosure Of Dues To Banks And Correspondents [Line Items] | ||||||||||||||||||||
Borrowings adjustment to interest rate basis | 1.70% | |||||||||||||||||||
Bank of new york [Member] | ||||||||||||||||||||
Disclosure Of Dues To Banks And Correspondents [Line Items] | ||||||||||||||||||||
Proceeds from long term borrowings | $ 25,000,000 | |||||||||||||||||||
Bank of new york [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member] | ||||||||||||||||||||
Disclosure Of Dues To Banks And Correspondents [Line Items] | ||||||||||||||||||||
Borrowings adjustment to interest rate basis | 0.73% | |||||||||||||||||||
Bank J. Safra Sarasin 1 [Member] | ||||||||||||||||||||
Disclosure Of Dues To Banks And Correspondents [Line Items] | ||||||||||||||||||||
Borrowings Effective Annual Interest Rate | 6.53 | |||||||||||||||||||
Proceeds from long term borrowings | 7,000,000 | |||||||||||||||||||
Bank J. Safra Sarasin 2 [Member] | ||||||||||||||||||||
Disclosure Of Dues To Banks And Correspondents [Line Items] | ||||||||||||||||||||
Borrowings Effective Annual Interest Rate | 6.58 | |||||||||||||||||||
Proceeds from long term borrowings | $ 15,000,000 | |||||||||||||||||||
Standard Chartered Bank NY [Member] | ||||||||||||||||||||
Disclosure Of Dues To Banks And Correspondents [Line Items] | ||||||||||||||||||||
Proceeds from long term borrowings | $ 20,000,000 | |||||||||||||||||||
Borrowings, interest rate | 8.59% | 8.59% | ||||||||||||||||||
Standard Chartered Bank NY [Member] | Currency swap contract [member] | ||||||||||||||||||||
Disclosure Of Dues To Banks And Correspondents [Line Items] | ||||||||||||||||||||
Notional amount | $ 20,000,000 | |||||||||||||||||||
Financial instruments designated as hedging instruments, at fair value | S/ | S/ 74,180,000 | |||||||||||||||||||
Standard Chartered Bank NY [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member] | ||||||||||||||||||||
Disclosure Of Dues To Banks And Correspondents [Line Items] | ||||||||||||||||||||
Borrowings adjustment to interest rate basis | 1.90% | 1.90% | ||||||||||||||||||
HSBC Branch India [Member] | ||||||||||||||||||||
Disclosure Of Dues To Banks And Correspondents [Line Items] | ||||||||||||||||||||
Proceeds from long term borrowings | $ 10,000,000 | |||||||||||||||||||
HSBC Branch India [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member] | ||||||||||||||||||||
Disclosure Of Dues To Banks And Correspondents [Line Items] | ||||||||||||||||||||
Borrowings adjustment to interest rate basis | 1.35% | 1.35% | ||||||||||||||||||
Banco Interamericano de Desarrollo [Member] | ||||||||||||||||||||
Disclosure Of Dues To Banks And Correspondents [Line Items] | ||||||||||||||||||||
Proceeds from long term borrowings | $ 2,025,000 | |||||||||||||||||||
Banco Interamericano de Desarrollo [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member] | ||||||||||||||||||||
Disclosure Of Dues To Banks And Correspondents [Line Items] | ||||||||||||||||||||
Borrowings adjustment to interest rate basis | 0.75% | |||||||||||||||||||
Bottom of range [member] | Due To Foreign Entities [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member] | ||||||||||||||||||||
Disclosure Of Dues To Banks And Correspondents [Line Items] | ||||||||||||||||||||
Borrowings Effective Annual Interest Rate | 0.75 | 0.44 | ||||||||||||||||||
Top of range [member] | Due To Foreign Entities [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member] | ||||||||||||||||||||
Disclosure Of Dues To Banks And Correspondents [Line Items] | ||||||||||||||||||||
Borrowings Effective Annual Interest Rate | $ 1.7 | $ 1.99 |
Due to banks and corresponden_7
Due to banks and correspondents - Summary of funding in local and foreign currency (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Disclosure of Detailed Infromation About funding in Local and Foreign Currency [Line Items] | ||
Borrowings | S/ 5,551,629 | S/ 7,906,303 |
Banco de Credito del Peru [Member] | ||
Disclosure of Detailed Infromation About funding in Local and Foreign Currency [Line Items] | ||
Borrowings Maturity | Jan-24 / Jan-26 | Jan-23 / Oct-23 |
Currency | PEN | PEN |
Borrowings | S/ 127,000 | S/ 81,644 |
Bank of China Peru [Member] | ||
Disclosure of Detailed Infromation About funding in Local and Foreign Currency [Line Items] | ||
Borrowings Maturity | Nov-24 | Nov-24 |
Currency | USD | USD |
Borrowings | S/ 37,090 | S/ 38,140 |
BBVA Continental [Member] | ||
Disclosure of Detailed Infromation About funding in Local and Foreign Currency [Line Items] | ||
Borrowings Maturity | Jan-23 | |
Currency | USD | |
Borrowings | S/ 45,768 | |
Scotiabank Peru S.A.A. | ||
Disclosure of Detailed Infromation About funding in Local and Foreign Currency [Line Items] | ||
Borrowings Maturity | Jan-24 / Oct-25 | Jan-23 / Oct-25 |
Currency | PEN | PEN |
Borrowings | S/ 75,465 | S/ 120,718 |
Bank of GNB Peru S.A. | ||
Disclosure of Detailed Infromation About funding in Local and Foreign Currency [Line Items] | ||
Borrowings Maturity | Jan-24 | Jan-23 |
Currency | PEN | PEN |
Borrowings | S/ 69,970 | S/ 71,500 |
Borrowings from loans received from peruvian entities [Member] | ||
Disclosure of Detailed Infromation About funding in Local and Foreign Currency [Line Items] | ||
Borrowings | S/ 309,525 | S/ 357,770 |
Due to banks and corresponden_8
Due to banks and correspondents - Summary of funding in local and foreign currency (Parenthetical) (Detail) | 12 Months Ended | ||||
Dec. 31, 2023 USD ($) | Dec. 31, 2023 PEN (S/) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 PEN (S/) | Dec. 31, 2022 USD ($) | |
Disclosure of Detailed Infromation About funding in Local and Foreign Currency [Line Items] | |||||
Derivative Liabilities Notional Amount | S/ | S/ 2,578,515,000 | S/ 2,579,164,000 | |||
Cash flow hedges [member] | |||||
Disclosure of Detailed Infromation About funding in Local and Foreign Currency [Line Items] | |||||
Derivative Liabilities Notional Amount | S/ 38,140,000 | $ 10,000,000 | |||
Bank of China Peru [Member] | |||||
Disclosure of Detailed Infromation About funding in Local and Foreign Currency [Line Items] | |||||
Proceeds from long term borrowings | $ | $ 10,000,000 | ||||
Borrowings, interest rate | 8.18% | 8.18% | |||
Bank of China Peru [Member] | Currency swap contract [member] | |||||
Disclosure of Detailed Infromation About funding in Local and Foreign Currency [Line Items] | |||||
Derivative Liabilities Notional Amount | S/ 37,090,000 | $ 10,000,000 | |||
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate [Member] | Bank of China Peru [Member] | |||||
Disclosure of Detailed Infromation About funding in Local and Foreign Currency [Line Items] | |||||
Borrowings adjustment to interest rate basis | 1.50% | 1.50% |
Due to banks and corresponden_9
Due to banks and correspondents - Disclosure of detail maturities due to banks and correspondents (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 | Jan. 01, 2022 |
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | |||
Bank acceptance liabilities | S/ 9,025,930 | S/ 7,100,646 | S/ 8,522,849 |
2023 | |||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | |||
Bank acceptance liabilities | 0 | 2,433,459 | |
2024 | |||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | |||
Bank acceptance liabilities | 4,852,495 | 1,888,657 | |
2025 | |||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | |||
Bank acceptance liabilities | 1,185,753 | 1,331,489 | |
2026 | |||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | |||
Bank acceptance liabilities | 1,373,363 | 138,499 | |
2027 onwards | |||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | |||
Bank acceptance liabilities | S/ 1,614,319 | S/ 1,308,542 |
Bonds, notes and other obliga_3
Bonds, notes and other obligations - Summary of bonds, notes and other obligations (Detail) | 12 Months Ended | ||||||
Sep. 24, 2019 PEN (S/) | Dec. 31, 2023 PEN (S/) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 PEN (S/) | Dec. 31, 2022 USD ($) | Sep. 29, 2020 USD ($) | Jan. 01, 2018 USD ($) | |
Disclosure of detailed information about borrowings [line items] | |||||||
Amount issued | S/ 10,634,546,000 | S/ 14,308,959,000 | |||||
Borrowings | 5,551,629,000 | 7,906,303,000 | |||||
Interest payable | 106,145,000 | 134,679,000 | |||||
Subordinated Bonds Third Program Third Single Series [Member] | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Amount issued | $ | $ 25,000,000 | ||||||
Three Point Three Seven Five Percent Corporate Bonds [Member] | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Amount issued | $ 484,895,000 | 1,681,974,000 | $ 441,000,000 | $ 200,000,000 | |||
Local Issuances [Member] | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Borrowings | S/ 391,007,000 | 738,457,000 | |||||
Local Issuances [Member] | Subordinated Bonds Second Program Third A Series [Member] | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Issuer | Interbank | ||||||
Annual interest rate | 7.50% | 7.50% | |||||
Interest Payment | Semi-annually | ||||||
Borrowings Maturity | 2023 | ||||||
Amount issued | $ | $ 50,000,000 | ||||||
Borrowings | 190,616,000 | ||||||
Local Issuances [Member] | Subordinated Bonds Second Program Second A Series [Member] | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Issuer | Interbank | ||||||
Annual interest rate | 5.81% | 5.81% | |||||
Interest Payment | Semi-annually | ||||||
Borrowings Maturity | 2023 | ||||||
Amount issued | S/ 150,000,000 | ||||||
Borrowings | 149,998,000 | ||||||
Local Issuances [Member] | Subordinated Bonds Second Program [Member] | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Borrowings | 340,614,000 | ||||||
Local Issuances [Member] | Subordinated Bonds Third Program Third Single Series [Member] | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Issuer | Interseguro | ||||||
Annual interest rate | 4.84% | 4.84% | |||||
Interest Payment | Semi-annually | ||||||
Borrowings Maturity | 2030 | ||||||
Amount issued | $ | $ 25,000,000 | ||||||
Borrowings | S/ 92,725,000 | 95,350,000 | |||||
Local Issuances [Member] | Subordinated Bonds Third Program First - Single Series [Member] | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Issuer | Interseguro | ||||||
Annual interest rate | 6% | 6% | |||||
Interest Payment | Semi-annually | ||||||
Borrowings Maturity | 2029 | ||||||
Amount issued | $ | $ 20,000,000 | ||||||
Borrowings | S/ 74,102,000 | 76,213,000 | |||||
Local Issuances [Member] | Subordinated Bonds Third Program Second Single Series [Member] | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Issuer | Interseguro | ||||||
Annual interest rate | 4.34% | 4.34% | |||||
Interest Payment | Semi-annually | ||||||
Borrowings Maturity | 2029 | ||||||
Amount issued | $ | $ 20,000,000 | ||||||
Borrowings | S/ 74,180,000 | 76,280,000 | |||||
Local Issuances [Member] | Subordinated Bonds Third Program [Member] | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Borrowings | S/ 241,007,000 | 247,843,000 | |||||
Local Issuances [Member] | Corporate Bonds Second Program fifth A Series [Member] | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Issuer | Interbank | ||||||
Annual interest rate, basis | 3.41% + VAC | ||||||
Interest Payment | Semi-annually | ||||||
Borrowings Maturity | 2029 | ||||||
Amount issued | S/ 150,000,000 | ||||||
Borrowings | 150,000,000 | 150,000,000 | |||||
International Issuances [Member] | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Borrowings | S/ 5,054,477,000 | 7,033,167,000 | |||||
International Issuances [Member] | Subordinated Bonds [Member] | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Issuer | Interbank | ||||||
Annual interest rate | 4% | 4% | |||||
Interest Payment | Semi-annually | ||||||
Borrowings Maturity | 2030 | ||||||
Amount issued | $ | $ 300,000,000 | ||||||
Borrowings | S/ 1,107,228,000 | 1,137,691,000 | |||||
International Issuances [Member] | Senior Bonds [Member] | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Issuer | IFS | ||||||
Annual interest rate | 4.125% | 4.125% | |||||
Interest Payment | Semi-annually | ||||||
Borrowings Maturity | 2027 | ||||||
Amount issued | $ | $ 300,000,000 | ||||||
Borrowings | S/ 1,045,258,000 | 1,074,396,000 | |||||
International Issuances [Member] | Three Point Three Seven Five Percent Corporate Bonds [Member] | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Issuer | Interbank | ||||||
Annual interest rate | 3.375% | 3.375% | |||||
Interest Payment | Semi-annually | ||||||
Borrowings Maturity | 2023 | ||||||
Amount issued | $ | $ 484,895,000 | ||||||
Borrowings | S/ 0 | 1,849,133,000 | |||||
International Issuances [Member] | Five Percent Corporate Bonds [Member] | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Issuer | Interbank | ||||||
Annual interest rate | 5% | 5% | 5% | ||||
Interest Payment | Semi-annually | ||||||
Borrowings Maturity | 2026 | 2026 | |||||
Amount issued | S/ 312,000,000 | S/ 312,000,000 | |||||
Borrowings | S/ 311,644,000 | 311,522,000 | |||||
International Issuances [Member] | Three Point Two Five Zero Percent Corporate Bonds [Member] | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Issuer | Interbank | ||||||
Annual interest rate | 3.25% | 3.25% | |||||
Interest Payment | Semi-annually | ||||||
Borrowings Maturity | 2026 | ||||||
Amount issued | $ | $ 400,000,000 | ||||||
Borrowings | S/ 1,477,909,000 | 1,517,661,000 | |||||
International Issuances [Member] | Six point six two five Percentage Subordinated Bonds [Member] | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Issuer | Interbank | ||||||
Annual interest rate | 6.625% | 6.625% | |||||
Interest Payment | Semi-annually | ||||||
Borrowings Maturity | 2029 | ||||||
Amount issued | $ | $ 300,000,000 | ||||||
Borrowings | S/ 1,112,438,000 | 1,142,764,000 | |||||
Local and International Issuances [Member] | |||||||
Disclosure of detailed information about borrowings [line items] | |||||||
Borrowings | S/ 5,445,484,000 | S/ 7,771,624,000 |
Bonds, notes and other obliga_4
Bonds, notes and other obligations - Summary of repayment schedule of bonds, notes and other obligations (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of detailed information about borrowings [line items] | ||
Borrowings | S/ 5,551,629 | S/ 7,906,303 |
2023 | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings | 2,296,506 | |
2024 | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings | 71,709 | |
2026 | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings | 1,789,553 | 1,829,183 |
2027 onwards | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings | S/ 3,690,367 | S/ 3,780,614 |
Bonds, notes and other obliga_5
Bonds, notes and other obligations - Additional Information (Detail) | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2023 PEN (S/) | Dec. 13, 2023 USD ($) | Jan. 11, 2023 PEN (S/) | Jun. 30, 2020 USD ($) | Sep. 25, 2019 USD ($) | Sep. 24, 2019 PEN (S/) | Dec. 31, 2023 PEN (S/) | Dec. 31, 2022 PEN (S/) | Dec. 31, 2021 PEN (S/) | Mar. 31, 2024 | Dec. 31, 2023 USD ($) | Feb. 28, 2023 PEN (S/) | Feb. 28, 2023 USD ($) | Jan. 31, 2023 PEN (S/) | Jan. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) | Sep. 29, 2020 USD ($) | Jan. 01, 2018 USD ($) | Oct. 31, 2017 USD ($) | |
Disclosure of detailed information about borrowings [line items] | |||||||||||||||||||
Notional amount | S/ | S/ 10,634,546,000 | S/ 10,634,546,000 | S/ 14,308,959,000 | ||||||||||||||||
Repayments of bonds, notes and debentures | $ 50,000,000 | S/ 150,000,000 | 2,189,040,000 | 137,900,000 | S/ 91,000,000 | ||||||||||||||
Senior Bonds [Member] | Cash flow hedges [member] | |||||||||||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||||||||||
Notional amount | $ 20,000,000 | $ 20,000,000 | $ 150,000,000 | ||||||||||||||||
Cash flow hedge, fair value | S/ | S/ 556,950,000 | S/ 556,950,000 | 573,000,000 | S/ 74,260,000 | S/ 74,260,000 | ||||||||||||||
Senior Bonds [Member] | International Issuances [Member] | |||||||||||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||||||||||
Annual interest rate | 4.125% | 4.125% | 4.125% | ||||||||||||||||
Notional amount | $ 300,000,000 | ||||||||||||||||||
Borrowings maturity | 2027 | ||||||||||||||||||
Three Point Three Seven Five Percent Corporate Bonds [Member] | |||||||||||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||||||||||
Notional amount | S/ 1,681,974,000 | $ 484,895,000 | $ 441,000,000 | $ 200,000,000 | |||||||||||||||
Converted interest rate from hedging | 4.88% | ||||||||||||||||||
Three Point Three Seven Five Percent Corporate Bonds [Member] | International Issuances [Member] | |||||||||||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||||||||||
Annual interest rate | 3.375% | 3.375% | 3.375% | ||||||||||||||||
Notional amount | $ 484,895,000 | ||||||||||||||||||
Borrowings maturity | 2023 | ||||||||||||||||||
Five Percent Corporate Bonds [Member] | International Issuances [Member] | |||||||||||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||||||||||
Annual interest rate | 5% | 5% | 5% | 5% | |||||||||||||||
Notional amount | S/ | S/ 312,000,000 | S/ 312,000,000 | S/ 312,000,000 | ||||||||||||||||
Borrowings maturity | 2026 | 2026 | |||||||||||||||||
Three Point Two Five Zero Percent Corporate Bonds [Member] | |||||||||||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||||||||||
Notional amount | S/ 1,112,700,000 | S/ 1,112,700,000 | $ 300,000,000 | ||||||||||||||||
Converted interest rate from hedging | 2.12% | ||||||||||||||||||
Converted interest rate from hedging two | 5.10% | ||||||||||||||||||
Converted interest rate from hedging three | 5.32% | ||||||||||||||||||
Converted interest rate from hedging four | 4.92% | ||||||||||||||||||
Three Point Two Five Zero Percent Corporate Bonds [Member] | International Issuances [Member] | |||||||||||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||||||||||
Annual interest rate | 3.25% | ||||||||||||||||||
Notional amount | $ 400,000,000 | ||||||||||||||||||
Borrowings maturity | 2026 | ||||||||||||||||||
Subordinated Bonds Third Program Third Single Series [Member] | |||||||||||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||||||||||
Notional amount | $ 25,000,000 | ||||||||||||||||||
Four Point Zero Percentage Subordinated Bonds [Member] | |||||||||||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||||||||||
Annual interest rate | 4% | ||||||||||||||||||
Notional amount | $ 300,000,000 | ||||||||||||||||||
Borrowings maturity | 2030 | ||||||||||||||||||
Debt Instrument Redemption Price Percentage | 100% | ||||||||||||||||||
Borrowings, interest rate basis | From that date onwards, in case Interbank does not perform the early redemption, the interest rate will increase by 371.1 basis points | ||||||||||||||||||
Six point six two five Percentage Subordinated Bonds [Member] | Nonadjusting Events After Reporting Period [Member] | |||||||||||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||||||||||
Annual interest rate | 8.625% | ||||||||||||||||||
Six point six two five Percentage Subordinated Bonds [Member] | International Issuances [Member] | |||||||||||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||||||||||
Annual interest rate | 6.625% | 6.625% | 6.625% | ||||||||||||||||
Notional amount | $ 300,000,000 | ||||||||||||||||||
Borrowings maturity | 2029 | ||||||||||||||||||
Five Point Seven Five Percentage Senior Bonds [Member] | |||||||||||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||||||||||
Notional amount | 284,895,000 | ||||||||||||||||||
Five Point Seven Five Percentage Senior Bonds [Member] | Swap Amount [Member] | |||||||||||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||||||||||
Notional amount | 263,322,000 | ||||||||||||||||||
Five Point Seven Five Percentage Senior Bonds [Member] | Swap Premium [Member] | |||||||||||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||||||||||
Notional amount | $ 21,573,000 |
Assets and Liabilities for in_3
Assets and Liabilities for insurance and reinsurance contracts - Summary of caption is comprised (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 | Jan. 01, 2022 | Dec. 31, 2021 |
Disclosure Of Reconciliation Of Changes Of Assets And Liabilities For Insurance Reinsurance Contracts [Line Items] | ||||
Assets | S/ 0 | S/ 0 | ||
Liabilities | 12,205,641 | 11,227,845 | ||
Net | 12,205,641 | 11,227,845 | ||
Total insurance contracts issued and reinsurance contracts held assets | (26,287) | (34,053) | S/ (53,849) | |
Total insurance contracts issued and reinsurance contracts held liabilities | 12,207,536 | 11,231,321 | ||
Total insurance contracts issued and reinsurance contracts held net | 12,181,249 | 11,197,268 | ||
Liability for remaining coverage [member] | ||||
Disclosure Of Reconciliation Of Changes Of Assets And Liabilities For Insurance Reinsurance Contracts [Line Items] | ||||
Net | 11,301,149 | 10,337,035 | S/ 12,063,449 | |
Reinsurance contracts held [member] | ||||
Disclosure Of Reconciliation Of Changes Of Assets And Liabilities For Insurance Reinsurance Contracts [Line Items] | ||||
Assets | (26,287) | (34,053) | ||
Liabilities | 1,895 | 3,476 | ||
Net | (24,392) | (30,577) | ||
Insurance contracts issued [member] | Liability for remaining coverage [member] | ||||
Disclosure Of Reconciliation Of Changes Of Assets And Liabilities For Insurance Reinsurance Contracts [Line Items] | ||||
Assets | 0 | 0 | ||
Liabilities | 12,000,220 | 11,022,665 | ||
Net | 12,000,220 | 11,022,665 | ||
Insurance contracts issued [member] | Liability for incurred claims [member] | ||||
Disclosure Of Reconciliation Of Changes Of Assets And Liabilities For Insurance Reinsurance Contracts [Line Items] | ||||
Assets | 0 | 0 | ||
Liabilities | 205,421 | 205,180 | ||
Net | S/ 205,421 | S/ 205,180 |
Assets and Liabilities for in_4
Assets and Liabilities for insurance and reinsurance contracts - Summary of movement of issued insurance contract liabilities (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure Of Movement Of Insurance Contract Liability [Line Items] | |||
Balance as of January 1 | S/ 11,227,845 | ||
Insurance revenue | 10,163 | S/ 6,489 | S/ 8,115 |
Insurance service expenses | 10,066 | 11,048 | 65,757 |
Incurred claims and other expenses | (1,022,291) | (1,025,274) | |
Amortization of insurance acquisition cash flows | (127,009) | (118,287) | |
Losses on onerous contracts and reversals of those losses | 12,547 | (162,882) | |
Insurance service result | (178,392) | (252,854) | (272,079) |
Total changes in the statement of income and other comprehensive income | 67,062 | (46,697) | |
Total cash flows and investment component | (917,346) | ||
Balance as of December 31 | 12,205,641 | 11,227,845 | |
Excluding loss component [member] | |||
Disclosure Of Movement Of Insurance Contract Liability [Line Items] | |||
Balance as of January 1 | 10,337,035 | 12,063,449 | |
Insurance revenue | (720,636) | (677,175) | |
Contracts under fair value, BBA and VFA approach | (495,923) | (462,266) | |
Contracts under PAA approach | (224,713) | (214,909) | |
Insurance service expenses | 127,009 | 118,287 | |
Incurred claims and other expenses | 0 | 0 | |
Amortization of insurance acquisition cash flows | 127,009 | 118,287 | |
Losses on onerous contracts and reversals of those losses | 0 | 0 | |
Changes to liabilities for incurred claims | 0 | 0 | |
Insurance service result | (593,627) | (558,888) | |
Insurance financial expenses | 1,499,572 | (1,251,364) | |
Insurance financial result | 543,941 | 462,970 | |
Interest rate effect | 955,631 | (1,714,334) | |
Effect of movements in exchange rates | (135,726) | (227,427) | |
Total changes in the statement of income and other comprehensive income | 770,219 | (2,037,679) | |
Total cash flows and investment component | 193,895 | 311,265 | |
Premiums received | 974,312 | 1,036,338 | |
Claims and other expenses paid | 0 | 0 | |
Insurance acquisition cash flows | (213,118) | (193,241) | |
Investment component | (567,299) | (531,832) | |
Balance as of December 31 | 11,301,149 | 10,337,035 | 12,063,449 |
Loss component [member] | |||
Disclosure Of Movement Of Insurance Contract Liability [Line Items] | |||
Balance as of January 1 | 685,630 | 509,792 | |
Insurance revenue | 0 | 0 | |
Contracts under fair value, BBA and VFA approach | 0 | 0 | |
Contracts under PAA approach | 0 | 0 | |
Insurance service expenses | (12,547) | 162,882 | |
Incurred claims and other expenses | 0 | 0 | |
Amortization of insurance acquisition cash flows | 0 | 0 | |
Losses on onerous contracts and reversals of those losses | (12,547) | 162,882 | |
Changes to liabilities for incurred claims | 0 | 0 | |
Insurance service result | (12,547) | 162,882 | |
Insurance financial expenses | 29,771 | 24,950 | |
Insurance financial result | 29,771 | 24,950 | |
Interest rate effect | 0 | 0 | |
Effect of movements in exchange rates | (3,736) | (11,994) | |
Total changes in the statement of income and other comprehensive income | 13,488 | 175,838 | |
Total cash flows and investment component | (47) | 0 | |
Premiums received | 0 | 0 | |
Claims and other expenses paid | 0 | 0 | |
Insurance acquisition cash flows | (47) | 0 | |
Investment component | 0 | 0 | |
Balance as of December 31 | 699,071 | 685,630 | 509,792 |
Fulfillment Cash Flows [member] | |||
Disclosure Of Movement Of Insurance Contract Liability [Line Items] | |||
Balance as of January 1 | 151,594 | 164,040 | |
Insurance revenue | 0 | 0 | |
Contracts under fair value, BBA and VFA approach | 0 | 0 | |
Contracts under PAA approach | 0 | 0 | |
Insurance service expenses | 433,958 | 364,676 | |
Incurred claims and other expenses | 965,054 | 969,231 | |
Amortization of insurance acquisition cash flows | 0 | 0 | |
Losses on onerous contracts and reversals of those losses | 0 | 0 | |
Changes to liabilities for incurred claims | (531,096) | (604,555) | |
Insurance service result | 433,958 | 364,676 | |
Insurance financial expenses | 0 | 5,270 | |
Insurance financial result | 0 | 5,270 | |
Interest rate effect | 0 | 0 | |
Effect of movements in exchange rates | (447) | (894) | |
Total changes in the statement of income and other comprehensive income | 433,511 | 369,052 | |
Total cash flows and investment component | (429,456) | (381,498) | |
Premiums received | 0 | 0 | |
Claims and other expenses paid | (996,755) | (913,330) | |
Insurance acquisition cash flows | 0 | 0 | |
Investment component | 567,299 | 531,832 | |
Balance as of December 31 | 155,649 | 151,594 | 164,040 |
Risk adjustment [member] | |||
Disclosure Of Movement Of Insurance Contract Liability [Line Items] | |||
Balance as of January 1 | 5,411 | 5,936 | |
Insurance revenue | 0 | 0 | |
Contracts under fair value, BBA and VFA approach | 0 | 0 | |
Contracts under PAA approach | 0 | 0 | |
Insurance service expenses | (81) | (509) | |
Incurred claims and other expenses | (81) | 130 | |
Amortization of insurance acquisition cash flows | 0 | 0 | |
Losses on onerous contracts and reversals of those losses | 0 | 0 | |
Changes to liabilities for incurred claims | 0 | (639) | |
Insurance service result | (81) | (509) | |
Insurance financial expenses | 0 | 0 | |
Insurance financial result | 0 | 0 | |
Interest rate effect | 0 | 0 | |
Effect of movements in exchange rates | (73) | (16) | |
Total changes in the statement of income and other comprehensive income | (154) | (525) | |
Total cash flows and investment component | 0 | 0 | |
Premiums received | 0 | 0 | |
Claims and other expenses paid | 0 | 0 | |
Insurance acquisition cash flows | 0 | 0 | |
Investment component | 0 | 0 | |
Balance as of December 31 | 5,257 | 5,411 | 5,936 |
Liabilities for incurred claims in contracts measured by the Premium Allocation Approach (PAA) | |||
Disclosure Of Movement Of Insurance Contract Liability [Line Items] | |||
Balance as of January 1 | 11,227,845 | 12,787,967 | |
Insurance revenue | (720,636) | (677,175) | |
Contracts under fair value, BBA and VFA approach | (495,923) | (462,266) | |
Contracts under PAA approach | (224,713) | (214,909) | |
Insurance service expenses | 653,574 | 723,872 | |
Incurred claims and other expenses | 1,022,291 | 1,025,274 | |
Amortization of insurance acquisition cash flows | 127,009 | 118,287 | |
Losses on onerous contracts and reversals of those losses | (12,547) | 162,882 | |
Changes to liabilities for incurred claims | (483,179) | (582,571) | |
Insurance service result | (67,062) | 46,697 | |
Insurance financial expenses | 1,528,798 | (1,210,947) | |
Insurance financial result | 573,167 | 503,387 | |
Interest rate effect | 955,631 | (1,714,334) | |
Effect of movements in exchange rates | (140,248) | (240,673) | |
Total changes in the statement of income and other comprehensive income | 1,321,488 | (1,404,923) | |
Total cash flows and investment component | (343,692) | (155,199) | |
Premiums received | 974,312 | 1,036,338 | |
Claims and other expenses paid | (1,104,839) | (998,296) | |
Insurance acquisition cash flows | (213,165) | (193,241) | |
Investment component | 0 | 0 | |
Balance as of December 31 | 12,205,641 | 11,227,845 | 12,787,967 |
Liabilities for incurred claims in contracts measured by the Premium Allocation Approach (PAA) | Fulfillment Cash Flows [member] | |||
Disclosure Of Movement Of Insurance Contract Liability [Line Items] | |||
Balance as of January 1 | 45,278 | 43,508 | |
Insurance revenue | 0 | 0 | |
Contracts under fair value, BBA and VFA approach | 0 | 0 | |
Contracts under PAA approach | 0 | 0 | |
Insurance service expenses | 106,801 | 77,012 | |
Incurred claims and other expenses | 58,884 | 39,809 | |
Amortization of insurance acquisition cash flows | 0 | 0 | |
Losses on onerous contracts and reversals of those losses | 0 | 0 | |
Changes to liabilities for incurred claims | 47,917 | 37,203 | |
Insurance service result | 106,801 | 77,012 | |
Insurance financial expenses | (545) | 10,073 | |
Insurance financial result | (545) | 10,073 | |
Interest rate effect | 0 | 0 | |
Effect of movements in exchange rates | (213) | (349) | |
Total changes in the statement of income and other comprehensive income | 106,043 | 86,736 | |
Total cash flows and investment component | (108,084) | (84,966) | |
Premiums received | 0 | 0 | |
Claims and other expenses paid | (108,084) | (84,966) | |
Insurance acquisition cash flows | 0 | 0 | |
Investment component | 0 | 0 | |
Balance as of December 31 | 43,237 | 45,278 | 43,508 |
Liabilities for incurred claims in contracts measured by the Premium Allocation Approach (PAA) | Risk adjustment [member] | |||
Disclosure Of Movement Of Insurance Contract Liability [Line Items] | |||
Balance as of January 1 | 2,897 | 1,242 | |
Insurance revenue | 0 | 0 | |
Contracts under fair value, BBA and VFA approach | 0 | 0 | |
Contracts under PAA approach | 0 | 0 | |
Insurance service expenses | (1,566) | 1,524 | |
Incurred claims and other expenses | (1,566) | 16,104 | |
Amortization of insurance acquisition cash flows | 0 | 0 | |
Losses on onerous contracts and reversals of those losses | 0 | 0 | |
Changes to liabilities for incurred claims | 0 | (14,580) | |
Insurance service result | (1,566) | 1,524 | |
Insurance financial expenses | 0 | 124 | |
Insurance financial result | 0 | 124 | |
Interest rate effect | 0 | 0 | |
Effect of movements in exchange rates | (53) | 7 | |
Total changes in the statement of income and other comprehensive income | (1,619) | 1,655 | |
Total cash flows and investment component | 0 | 0 | |
Premiums received | 0 | 0 | |
Claims and other expenses paid | 0 | 0 | |
Insurance acquisition cash flows | 0 | 0 | |
Investment component | 0 | 0 | |
Balance as of December 31 | S/ 1,278 | S/ 2,897 | S/ 1,242 |
Assets and Liabilities for in_5
Assets and Liabilities for insurance and reinsurance contracts - Summary of movement of issued insurance contract liabilities (Parenthetical) (Detail) - Annuities And Retirement Disabilities And Survival Annuities And SCTR Insurance [Member] | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
USD [Member] | Top of range [member] | |||
Disclosure Of Movement Of Insurance Contract Liability [Line Items] | |||
Percentage of fluctuation due to increase decrease in rates | 6.472% | 3.95% | |
USD [Member] | Bottom of range [member] | |||
Disclosure Of Movement Of Insurance Contract Liability [Line Items] | |||
Percentage of fluctuation due to increase decrease in rates | 6.409% | 6.472% | |
PEN [Member] | Top of range [member] | |||
Disclosure Of Movement Of Insurance Contract Liability [Line Items] | |||
Percentage of fluctuation due to increase decrease in rates | 8.139% | 6.817% | |
PEN [Member] | Bottom of range [member] | |||
Disclosure Of Movement Of Insurance Contract Liability [Line Items] | |||
Percentage of fluctuation due to increase decrease in rates | 6.962% | 8.139% | |
S Or Vac [Member] | Top of range [member] | |||
Disclosure Of Movement Of Insurance Contract Liability [Line Items] | |||
Percentage of fluctuation due to increase decrease in rates | 4.765% | 3.734% | |
S Or Vac [Member] | Bottom of range [member] | |||
Disclosure Of Movement Of Insurance Contract Liability [Line Items] | |||
Percentage of fluctuation due to increase decrease in rates | 3.722% | 4.765% |
Assets and Liabilities for in_6
Assets and Liabilities for insurance and reinsurance contracts - Summary of issued insurance contracts' net asset or liability (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure Of Reconciliation Of Changes In Insurance Contracts By Components Of Life Insurance [Line Items] | |||
Balance as of January 1 | S/ 11,227,845 | ||
Insurance service result | (178,392) | S/ (252,854) | S/ (272,079) |
Total changes in the statement of income and other comprehensive income | 67,062 | (46,697) | |
Cash flows | (917,346) | ||
Balance as of December 31 | 12,205,641 | 11,227,845 | |
Risk adjustment [member] | |||
Disclosure Of Reconciliation Of Changes In Insurance Contracts By Components Of Life Insurance [Line Items] | |||
Balance as of January 1 | 5,411 | 5,936 | |
Insurance service result | (81) | (509) | |
Insurance financial expenses | 0 | 0 | |
Insurance financial result | 0 | 0 | |
Interest rate effect | 0 | 0 | |
Effect of movements in exchange rates | (73) | (16) | |
Total changes in the statement of income and other comprehensive income | (154) | (525) | |
Cash flows | 0 | 0 | |
Premiums received | 0 | 0 | |
Claims and other expenses paid | 0 | 0 | |
Insurance acquisition cash flows | 0 | 0 | |
Balance as of December 31 | 5,257 | 5,411 | 5,936 |
Contractual service margin [member] | |||
Disclosure Of Reconciliation Of Changes In Insurance Contracts By Components Of Life Insurance [Line Items] | |||
Contractual service margin recognised for services provided | (80,622) | (70,761) | |
Contracts initially recognised in the period | 289,323 | 252,526 | |
Changes in estimates that adjust the contractual service margin | (98,705) | (93,177) | |
Insurance service result | 109,996 | 88,588 | |
Insurance financial expenses | 37,712 | 27,688 | |
Effect of movements in exchange rates | (4,637) | (7,721) | |
Total changes in the statement of income and other comprehensive income | 143,071 | 108,555 | |
Life insurance [member] | |||
Disclosure Of Reconciliation Of Changes In Insurance Contracts By Components Of Life Insurance [Line Items] | |||
Balance as of January 1 | 11,133,966 | 12,701,733 | |
Contractual service margin recognised for services provided | (80,622) | (70,761) | |
Risk adjustment recognised for the risk expired | (306) | (3,995) | |
Experience adjustments | (114,952) | 84,129 | |
Contracts initially recognised in the period | 48,857 | 5,450 | |
Changes in estimates that adjust the contractual service margin | 0 | 0 | |
Changes in estimates that do not adjust the contractual service margin | 88,567 | 121,147 | |
Adjustments to liabilities for incurred claims | 2,866 | (16,698) | |
Insurance service result | (55,590) | 119,272 | |
Insurance financial expenses | 1,509,160 | (1,199,040) | |
Insurance financial result | 553,529 | 515,294 | |
Interest rate effect | 955,631 | (1,714,334) | |
Effect of movements in exchange rates | (118,652) | (245,963) | |
Total changes in the statement of income and other comprehensive income | 1,334,918 | (1,325,731) | |
Cash flows | (350,975) | (242,036) | |
Premiums received | 749,090 | 816,911 | |
Claims and other expenses paid | (1,008,640) | (967,912) | |
Insurance acquisition cash flows | (91,425) | (91,035) | |
Balance as of December 31 | 12,117,909 | 11,133,966 | 12,701,733 |
Life insurance [member] | Estimates of the present value of future cash flows [member] | |||
Disclosure Of Reconciliation Of Changes In Insurance Contracts By Components Of Life Insurance [Line Items] | |||
Balance as of January 1 | 10,256,194 | 11,867,379 | |
Contractual service margin recognised for services provided | 0 | 0 | |
Risk adjustment recognised for the risk expired | 0 | 0 | |
Experience adjustments | (114,952) | 84,129 | |
Contracts initially recognised in the period | (249,907) | (259,667) | |
Changes in estimates that adjust the contractual service margin | 98,096 | 109,771 | |
Changes in estimates that do not adjust the contractual service margin | 70,637 | 171,284 | |
Adjustments to liabilities for incurred claims | 2,866 | (16,698) | |
Insurance service result | (193,260) | 88,819 | |
Insurance financial expenses | 1,471,337 | (1,226,728) | |
Insurance financial result | 515,706 | 487,606 | |
Interest rate effect | 955,631 | (1,714,334) | |
Effect of movements in exchange rates | (111,021) | (231,240) | |
Total changes in the statement of income and other comprehensive income | 1,167,056 | (1,369,149) | |
Cash flows | (350,975) | (242,036) | |
Premiums received | 749,090 | 816,911 | |
Claims and other expenses paid | (1,008,640) | (967,912) | |
Insurance acquisition cash flows | (91,425) | (91,035) | |
Balance as of December 31 | 11,072,275 | 10,256,194 | 11,867,379 |
Life insurance [member] | Risk adjustment [member] | |||
Disclosure Of Reconciliation Of Changes In Insurance Contracts By Components Of Life Insurance [Line Items] | |||
Balance as of January 1 | 277,973 | 343,110 | |
Contractual service margin recognised for services provided | 0 | 0 | |
Risk adjustment recognised for the risk expired | (306) | (3,995) | |
Experience adjustments | 0 | 0 | |
Contracts initially recognised in the period | 9,441 | 12,591 | |
Changes in estimates that adjust the contractual service margin | 609 | (16,594) | |
Changes in estimates that do not adjust the contractual service margin | 17,930 | (50,137) | |
Adjustments to liabilities for incurred claims | 0 | 0 | |
Insurance service result | 27,674 | (58,135) | |
Insurance financial expenses | 111 | 0 | |
Insurance financial result | 111 | 0 | |
Interest rate effect | 0 | 0 | |
Effect of movements in exchange rates | (2,994) | (7,002) | |
Total changes in the statement of income and other comprehensive income | 24,791 | (65,137) | |
Cash flows | 0 | 0 | |
Premiums received | 0 | 0 | |
Claims and other expenses paid | 0 | 0 | |
Insurance acquisition cash flows | 0 | 0 | |
Balance as of December 31 | 302,764 | 277,973 | 343,110 |
Life insurance [member] | Contractual service margin [member] | |||
Disclosure Of Reconciliation Of Changes In Insurance Contracts By Components Of Life Insurance [Line Items] | |||
Balance as of January 1 | 599,799 | 491,244 | |
Contractual service margin recognised for services provided | (80,622) | (70,761) | |
Risk adjustment recognised for the risk expired | 0 | 0 | |
Experience adjustments | 0 | 0 | |
Contracts initially recognised in the period | 289,323 | 252,526 | |
Changes in estimates that adjust the contractual service margin | (98,705) | (93,177) | |
Changes in estimates that do not adjust the contractual service margin | 0 | 0 | |
Adjustments to liabilities for incurred claims | 0 | 0 | |
Insurance service result | 109,996 | 88,588 | |
Insurance financial expenses | 37,712 | 27,688 | |
Insurance financial result | 37,712 | 27,688 | |
Interest rate effect | 0 | 0 | |
Effect of movements in exchange rates | (4,637) | (7,721) | |
Total changes in the statement of income and other comprehensive income | 143,071 | 108,555 | |
Cash flows | 0 | 0 | |
Premiums received | 0 | 0 | |
Claims and other expenses paid | 0 | 0 | |
Insurance acquisition cash flows | 0 | 0 | |
Balance as of December 31 | S/ 742,870 | S/ 599,799 | S/ 491,244 |
Assets and Liabilities for in_7
Assets and Liabilities for insurance and reinsurance contracts - Summary of issued insurance contracts' net asset or liability (Parenthetical) (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Disclosure Of Reconciliation Of Changes In Insurance Contracts By Components Of Life Insurance [Line Items] | ||
Insurance revenue, amounts relating to changes in liability for remaining coverage | S/ 720,636 | S/ 677,175 |
Life insurance [member] | ||
Disclosure Of Reconciliation Of Changes In Insurance Contracts By Components Of Life Insurance [Line Items] | ||
Insurance revenue, amounts relating to changes in liability for remaining coverage | S/ 87,732,000 | S/ 93,879,000 |
Assets and Liabilities for in_8
Assets and Liabilities for insurance and reinsurance contracts - Summary of CSM movement for insurance contract portfolios (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of information about expected recognition of contractual service margin in profit or loss [line items] | |||
Contractual Service Margin as of January 1 | S/ 599,799 | ||
Insurance service result | (178,392) | S/ (252,854) | S/ (272,079) |
Total changes in the statement of income | 67,062 | (46,697) | |
Balance as of December 31 | 742,870 | 599,799 | |
Contractual service margin [member] | |||
Disclosure of information about expected recognition of contractual service margin in profit or loss [line items] | |||
Contractual Service Margin as of January 1 | 599,799 | 491,244 | |
Contractual service margin recognized for services provided | (80,622) | (70,761) | |
Contracts initially recognized in the period | 289,323 | 252,526 | |
Changes in estimates that adjust the contractual service margin | (98,705) | (93,177) | |
Insurance service result | 109,996 | 88,588 | |
Insurance financial expenses | 37,712 | 27,688 | |
Effect of movements in exchange difference | (4,637) | (7,721) | |
Total changes in the statement of income | 143,071 | 108,555 | |
Balance as of December 31 | S/ 742,870 | S/ 599,799 | S/ 491,244 |
Assets and Liabilities for in_9
Assets and Liabilities for insurance and reinsurance contracts - Summary of new insurance contracts issued (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Disclosure In Tabular Form Of New Insurance Contracts Issued Life Insurance [Line Items] | ||
Life insurance contract liabilities | S/ 12,205,641 | S/ 11,227,845 |
Life Insurance Contracts Issued One [Member] | ||
Disclosure In Tabular Form Of New Insurance Contracts Issued Life Insurance [Line Items] | ||
Losses on onerous contracts at initial recognition | 48,857 | 5,450 |
Life Insurance Contracts Issued One [Member] | Estimate of present value of future cash outflows, excluding insurance acquisition cash flows [member] | ||
Disclosure In Tabular Form Of New Insurance Contracts Issued Life Insurance [Line Items] | ||
Life insurance contract liabilities | 782,502 | 859,323 |
Life Insurance Contracts Issued One [Member] | Estimates of insurance acquisition cash flows [member] | ||
Disclosure In Tabular Form Of New Insurance Contracts Issued Life Insurance [Line Items] | ||
Life insurance contract liabilities | 90,832 | 81,770 |
Life Insurance Contracts Issued One [Member] | Estimate of present value of future cash outflows [member] | ||
Disclosure In Tabular Form Of New Insurance Contracts Issued Life Insurance [Line Items] | ||
Life insurance contract liabilities | 873,334 | 941,093 |
Life Insurance Contracts Issued One [Member] | Estimates of present value of future cash inflows [member] | ||
Disclosure In Tabular Form Of New Insurance Contracts Issued Life Insurance [Line Items] | ||
Life insurance contract liabilities | (1,123,241) | (1,200,760) |
Life Insurance Contracts Issued One [Member] | Risk adjustment [member] | ||
Disclosure In Tabular Form Of New Insurance Contracts Issued Life Insurance [Line Items] | ||
Life insurance contract liabilities | 9,441 | 12,591 |
Life Insurance Contracts Issued One [Member] | Contractual service margin [member] | ||
Disclosure In Tabular Form Of New Insurance Contracts Issued Life Insurance [Line Items] | ||
Life insurance contract liabilities | 289,323 | 252,526 |
Life Insurance Contracts Issued One [Member] | Non-onerous Insurance Contracts [Member] | ||
Disclosure In Tabular Form Of New Insurance Contracts Issued Life Insurance [Line Items] | ||
Losses on onerous contracts at initial recognition | 0 | 0 |
Life Insurance Contracts Issued One [Member] | Non-onerous Insurance Contracts [Member] | Estimate of present value of future cash outflows, excluding insurance acquisition cash flows [member] | ||
Disclosure In Tabular Form Of New Insurance Contracts Issued Life Insurance [Line Items] | ||
Life insurance contract liabilities | 683,302 | 740,236 |
Life Insurance Contracts Issued One [Member] | Non-onerous Insurance Contracts [Member] | Estimates of insurance acquisition cash flows [member] | ||
Disclosure In Tabular Form Of New Insurance Contracts Issued Life Insurance [Line Items] | ||
Life insurance contract liabilities | 81,957 | 72,206 |
Life Insurance Contracts Issued One [Member] | Non-onerous Insurance Contracts [Member] | Estimate of present value of future cash outflows [member] | ||
Disclosure In Tabular Form Of New Insurance Contracts Issued Life Insurance [Line Items] | ||
Life insurance contract liabilities | 765,259 | 812,442 |
Life Insurance Contracts Issued One [Member] | Non-onerous Insurance Contracts [Member] | Estimates of present value of future cash inflows [member] | ||
Disclosure In Tabular Form Of New Insurance Contracts Issued Life Insurance [Line Items] | ||
Life insurance contract liabilities | (1,063,336) | (1,076,183) |
Life Insurance Contracts Issued One [Member] | Non-onerous Insurance Contracts [Member] | Risk adjustment [member] | ||
Disclosure In Tabular Form Of New Insurance Contracts Issued Life Insurance [Line Items] | ||
Life insurance contract liabilities | 8,754 | 11,215 |
Life Insurance Contracts Issued One [Member] | Non-onerous Insurance Contracts [Member] | Contractual service margin [member] | ||
Disclosure In Tabular Form Of New Insurance Contracts Issued Life Insurance [Line Items] | ||
Life insurance contract liabilities | 289,323 | 252,526 |
Life Insurance Contracts Issued One [Member] | Onerous Insurance Contracts [Member] | ||
Disclosure In Tabular Form Of New Insurance Contracts Issued Life Insurance [Line Items] | ||
Losses on onerous contracts at initial recognition | 48,857 | 5,450 |
Life Insurance Contracts Issued One [Member] | Onerous Insurance Contracts [Member] | Estimate of present value of future cash outflows, excluding insurance acquisition cash flows [member] | ||
Disclosure In Tabular Form Of New Insurance Contracts Issued Life Insurance [Line Items] | ||
Life insurance contract liabilities | 99,200 | 119,087 |
Life Insurance Contracts Issued One [Member] | Onerous Insurance Contracts [Member] | Estimates of insurance acquisition cash flows [member] | ||
Disclosure In Tabular Form Of New Insurance Contracts Issued Life Insurance [Line Items] | ||
Life insurance contract liabilities | 8,875 | 9,564 |
Life Insurance Contracts Issued One [Member] | Onerous Insurance Contracts [Member] | Estimate of present value of future cash outflows [member] | ||
Disclosure In Tabular Form Of New Insurance Contracts Issued Life Insurance [Line Items] | ||
Life insurance contract liabilities | 108,075 | 128,651 |
Life Insurance Contracts Issued One [Member] | Onerous Insurance Contracts [Member] | Estimates of present value of future cash inflows [member] | ||
Disclosure In Tabular Form Of New Insurance Contracts Issued Life Insurance [Line Items] | ||
Life insurance contract liabilities | (59,905) | (124,577) |
Life Insurance Contracts Issued One [Member] | Onerous Insurance Contracts [Member] | Risk adjustment [member] | ||
Disclosure In Tabular Form Of New Insurance Contracts Issued Life Insurance [Line Items] | ||
Life insurance contract liabilities | 687 | 1,376 |
Life Insurance Contracts Issued One [Member] | Onerous Insurance Contracts [Member] | Contractual service margin [member] | ||
Disclosure In Tabular Form Of New Insurance Contracts Issued Life Insurance [Line Items] | ||
Life insurance contract liabilities | S/ 0 | S/ 0 |
Assets and Liabilities for i_10
Assets and Liabilities for insurance and reinsurance contracts - Summary of CSM is expected to be in profit or loss (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of information about expected recognition of contractual service margin in profit or loss [line items] | ||
Contractual service margin | S/ 742,870 | S/ 599,799 |
Pensions [member] | ||
Disclosure of information about expected recognition of contractual service margin in profit or loss [line items] | ||
Contractual service margin | 247,796 | 178,297 |
Life [member] | ||
Disclosure of information about expected recognition of contractual service margin in profit or loss [line items] | ||
Contractual service margin | 346,918 | 283,099 |
General insurance [Member] | ||
Disclosure of information about expected recognition of contractual service margin in profit or loss [line items] | ||
Contractual service margin | 148,156 | 138,403 |
Less than a year [member] | ||
Disclosure of information about expected recognition of contractual service margin in profit or loss [line items] | ||
Contractual service margin | 23,379 | 15,738 |
Less than a year [member] | Pensions [member] | ||
Disclosure of information about expected recognition of contractual service margin in profit or loss [line items] | ||
Contractual service margin | (11,028) | (7,229) |
Less than a year [member] | Life [member] | ||
Disclosure of information about expected recognition of contractual service margin in profit or loss [line items] | ||
Contractual service margin | (3,681) | (6,205) |
Less than a year [member] | General insurance [Member] | ||
Disclosure of information about expected recognition of contractual service margin in profit or loss [line items] | ||
Contractual service margin | 38,088 | 29,172 |
From 1 to 2 years [member] | ||
Disclosure of information about expected recognition of contractual service margin in profit or loss [line items] | ||
Contractual service margin | 15,077 | 10,494 |
From 1 to 2 years [member] | Pensions [member] | ||
Disclosure of information about expected recognition of contractual service margin in profit or loss [line items] | ||
Contractual service margin | (10,474) | (6,989) |
From 1 to 2 years [member] | Life [member] | ||
Disclosure of information about expected recognition of contractual service margin in profit or loss [line items] | ||
Contractual service margin | (2,111) | (4,417) |
From 1 to 2 years [member] | General insurance [Member] | ||
Disclosure of information about expected recognition of contractual service margin in profit or loss [line items] | ||
Contractual service margin | 27,662 | 21,900 |
From 2 to 3 years [member] | ||
Disclosure of information about expected recognition of contractual service margin in profit or loss [line items] | ||
Contractual service margin | 9,251 | 7,362 |
From 2 to 3 years [member] | Pensions [member] | ||
Disclosure of information about expected recognition of contractual service margin in profit or loss [line items] | ||
Contractual service margin | (9,441) | (6,421) |
From 2 to 3 years [member] | Life [member] | ||
Disclosure of information about expected recognition of contractual service margin in profit or loss [line items] | ||
Contractual service margin | (776) | (2,444) |
From 2 to 3 years [member] | General insurance [Member] | ||
Disclosure of information about expected recognition of contractual service margin in profit or loss [line items] | ||
Contractual service margin | 19,468 | 16,227 |
From 3 to 4 years [member] | ||
Disclosure of information about expected recognition of contractual service margin in profit or loss [line items] | ||
Contractual service margin | 5,793 | 5,398 |
From 3 to 4 years [member] | Pensions [member] | ||
Disclosure of information about expected recognition of contractual service margin in profit or loss [line items] | ||
Contractual service margin | (8,398) | (5,633) |
From 3 to 4 years [member] | Life [member] | ||
Disclosure of information about expected recognition of contractual service margin in profit or loss [line items] | ||
Contractual service margin | 1,271 | (442) |
From 3 to 4 years [member] | General insurance [Member] | ||
Disclosure of information about expected recognition of contractual service margin in profit or loss [line items] | ||
Contractual service margin | 12,920 | 11,473 |
From 4 to 5 years [member] | ||
Disclosure of information about expected recognition of contractual service margin in profit or loss [line items] | ||
Contractual service margin | 5,067 | 5,102 |
From 4 to 5 years [member] | Pensions [member] | ||
Disclosure of information about expected recognition of contractual service margin in profit or loss [line items] | ||
Contractual service margin | (7,570) | (4,719) |
From 4 to 5 years [member] | Life [member] | ||
Disclosure of information about expected recognition of contractual service margin in profit or loss [line items] | ||
Contractual service margin | 4,240 | 1,991 |
From 4 to 5 years [member] | General insurance [Member] | ||
Disclosure of information about expected recognition of contractual service margin in profit or loss [line items] | ||
Contractual service margin | 8,397 | 7,830 |
More than 5 years [member] | ||
Disclosure of information about expected recognition of contractual service margin in profit or loss [line items] | ||
Contractual service margin | 684,303 | 555,705 |
More than 5 years [member] | Pensions [member] | ||
Disclosure of information about expected recognition of contractual service margin in profit or loss [line items] | ||
Contractual service margin | 294,707 | 209,288 |
More than 5 years [member] | Life [member] | ||
Disclosure of information about expected recognition of contractual service margin in profit or loss [line items] | ||
Contractual service margin | 347,975 | 294,616 |
More than 5 years [member] | General insurance [Member] | ||
Disclosure of information about expected recognition of contractual service margin in profit or loss [line items] | ||
Contractual service margin | S/ 41,621 | S/ 51,801 |
Assets and Liabilities for i_11
Assets and Liabilities for insurance and reinsurance contracts - Summary of reconciliation of the amount included in net unrealized income for insurance premium reserves (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure In Tabular Form Of Reconciliation Of Net Unrealized Income For Insurance Premium Reserves [Line Items] | |||
Rate effect of "Renta Particular" contract | S/ 7,390 | S/ 12,746 | S/ (30,994) |
IFRS 17 [member] | Whole Life Cover And Surrender Options [Member] | |||
Disclosure In Tabular Form Of Reconciliation Of Net Unrealized Income For Insurance Premium Reserves [Line Items] | |||
Cumulative other comprehensive income, opening balance | 1,714,334 | 0 | |
(Loss) Gains recognized in other comprehensive income in the period | (955,631) | 1,714,334 | |
Rate effect of "Renta Particular" contract | (14,587) | 0 | |
Cumulative other comprehensive income, closing balance | S/ 744,116 | S/ 1,714,334 | S/ 0 |
Deferred Income Tax asset and_3
Deferred Income Tax asset and liability - Disclosure of temporary difference unused tax losses and unused tax credits explanatory (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 | Jan. 01, 2022 |
Deferred tax assets and liabilities [abstract] | |||
Deferred Tax Liability | S/ (75,712) | S/ (81,899) | S/ 0 |
Deferred Tax Liability Asset | 55,936 | 165,787 | |
Reconciliation of changes in deferred tax liability (asset) [abstract] | |||
Deferred Tax Liability Asset | 55,936 | 165,787 | |
Provision for loan portfolio and other provisions [Member] | |||
Deferred tax assets and liabilities [abstract] | |||
Deferred Tax Asset | 261,713 | 291,634 | |
Tax loss [Member] | |||
Deferred tax assets and liabilities [abstract] | |||
Deferred Tax Asset | 23,686 | 28,054 | |
Net unrealized losses from fluctuation in investments through other comprehensive income [Member] | |||
Deferred tax assets and liabilities [abstract] | |||
Deferred Tax Asset | 9,853 | 11,688 | |
Leveling of assets and liabilities [Member] | |||
Deferred tax assets and liabilities [abstract] | |||
Deferred Tax Asset | 7,474 | 16,357 | |
Deferred service income [Member] | |||
Deferred tax assets and liabilities [abstract] | |||
Deferred Tax Asset | 6,975 | 7,485 | |
Unrealized loss from derivatives [Member] | |||
Deferred tax assets and liabilities [abstract] | |||
Deferred Tax Asset | 6,407 | 245 | |
Right-of-use assets [Member] | |||
Deferred tax assets and liabilities [abstract] | |||
Deferred Tax Asset | 2,787 | 3,405 | |
Deferred income from indirect credits (stand-by letters) [Member] | |||
Deferred tax assets and liabilities [abstract] | |||
Deferred Tax Asset | 2,272 | 2,319 | |
Modification of rescheduled loan cash flows [Member] | |||
Deferred tax assets and liabilities [abstract] | |||
Deferred Tax Asset | 731 | (7,943) | |
Recording of past-due and refinanced loans [Member] | |||
Deferred tax assets and liabilities [abstract] | |||
Deferred Tax Asset | (121,928) | (74,401) | |
Other | |||
Deferred tax assets and liabilities [abstract] | |||
Deferred Tax Asset | 24,543 | 40,593 | |
Amortization of intangible assets net [Member] | |||
Deferred tax assets and liabilities [abstract] | |||
Deferred Tax Liability | (79,773) | (62,213) | |
Deemed Cost of fixed assets [Member] | |||
Deferred tax assets and liabilities [abstract] | |||
Deferred Tax Liability | (60,731) | (61,403) | |
Deferred cost of POS affiliation and registration [Member] | |||
Deferred tax assets and liabilities [abstract] | |||
Deferred Tax Liability | (25,348) | (26,980) | |
Other deferred liabilities [Member] | |||
Deferred tax assets and liabilities [abstract] | |||
Deferred Tax Liability | (2,725) | (3,053) | |
Higher value of intangibles generated by business combination, Note 1(d) | |||
Net deferred tax assets and liabilities [abstract] | |||
Net deferred tax Liability | 74,744 | 80,852 | |
Higher value of property, furniture and equipment and right-of-use generated by business combination, Note 1(d) | |||
Net deferred tax assets and liabilities [abstract] | |||
Net deferred tax Liability | 968 | 1,047 | |
Total deferred income tax Liability net [Member] | |||
Deferred tax assets and liabilities [abstract] | |||
Deferred Tax Liability Asset | 75,712 | 81,899 | |
Reconciliation of changes in deferred tax liability (asset) [abstract] | |||
Deferred Tax Liability Asset | S/ 75,712 | S/ 81,899 |
Deferred Income Tax asset and_4
Deferred Income Tax asset and liability - Disclosure of temporary difference unused tax losses and unused tax credits explanatory (Parantheticals) (Detail) | 12 Months Ended |
Dec. 31, 2023 PEN (S/) | |
Disclosure of temporary difference, unused tax losses and unused tax credits [abstract] | |
Deferred tax liability in result for the period due to business combination | S/ 4,642,000 |
Deferred Income Tax asset and_5
Deferred Income Tax asset and liability - Major components of income tax (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Major Components Of Tax Expense Income [Abstract] | |||
Current - Expense | S/ 140,332 | S/ 432,392 | S/ 257,252 |
Current – Dividend expense | 33,020 | 30,587 | 39,108 |
Deferred – Expense (income) | 102,244 | (442) | 205,752 |
Income Tax | S/ 275,596 | S/ 462,537 | S/ 502,112 |
Deferred Income Tax asset and_6
Deferred Income Tax asset and liability - Reconciliation of effective income tax rate (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Reconciliation of accounting profit multiplied by applicable tax rates [abstract] | |||
Income before Income Tax | S/ 1,354,872 | S/ 2,140,651 | S/ 2,302,291 |
Theoretical tax | 399,687 | 631,492 | 679,176 |
Increase (decrease) in income of Subsidiaries not domiciled in Peru | 46,453 | 11,412 | (39,498) |
Non-taxable income, net | (275,379) | (243,003) | (224,780) |
Permanent non-deductible expenses | 109,602 | 61,833 | 69,367 |
Non-taxable translation results | (4,767) | 803 | 17,847 |
Income Tax | S/ 275,596 | S/ 462,537 | S/ 502,112 |
Income before Income Tax | 100% | 100% | 100% |
Theoretical tax | 29.50% | 29.50% | 29.50% |
Increase (decrease) in income of Subsidiaries not domiciled in Peru | 3.40% | 0.50% | (1.70%) |
Non-taxable income, net | (20.30%) | (11.40%) | (9.80%) |
Permanent non-deductible expenses | 8.10% | 2.90% | 3% |
Non-taxable translation results | (0.40%) | 0.10% | 0.80% |
Income Tax | 20.30% | 21.60% | 21.80% |
Equity - Additional information
Equity - Additional information (Detail) | 1 Months Ended | 12 Months Ended | ||||||||||||||
Apr. 01, 2024 PEN (S/) | Apr. 01, 2024 USD ($) $ / shares | Mar. 31, 2023 PEN (S/) | Mar. 31, 2023 USD ($) $ / shares | Mar. 29, 2023 PEN (S/) shares | Mar. 31, 2022 PEN (S/) | Mar. 31, 2022 USD ($) $ / shares | Nov. 24, 2021 PEN (S/) | Nov. 24, 2021 USD ($) $ / shares | Mar. 31, 2021 PEN (S/) | Mar. 31, 2021 USD ($) $ / shares | Jul. 31, 2019 $ / shares | Dec. 31, 2023 PEN (S/) shares | Dec. 31, 2023 USD ($) shares | Dec. 31, 2021 PEN (S/) | Dec. 31, 2022 PEN (S/) shares | |
Disclosure of classes of share capital [line items] | ||||||||||||||||
Common stock, nominal value | $ / shares | $ 0 | |||||||||||||||
Common stock, issuance value per share | $ / shares | $ 9.72 | |||||||||||||||
Subscribed and paid-in common shares | shares | 115,447,705 | 115,447,705 | ||||||||||||||
Dividends distribution declared | S/ 511,788,000 | $ 136,222,000 | S/ 751,532,000 | $ 202,025,000 | S/ 301,757,000 | $ 75,038,000 | S/ 332,096,000 | $ 88,891,000 | ||||||||
Dividends distribution declared, per share | $ / shares | $ 1.18 | $ 1.75 | $ 0.65 | $ 0.77 | ||||||||||||
Treasury stock, sold value | S/ 75,000 | |||||||||||||||
Regulatory capital requirement | According to Legislative Decree No. 1028, Interbank’s regulatory capital must be equal to or higher than 10 percent of the assets and contingent credits weighted by total risk represented by the sum of the regulatory capital requirement for market risk multiplied by 10, the regulatory capital requirement for operational risk multiplied by 10 and the assets and contingent credits weighted by credit risk. | According to Legislative Decree No. 1028, Interbank’s regulatory capital must be equal to or higher than 10 percent of the assets and contingent credits weighted by total risk represented by the sum of the regulatory capital requirement for market risk multiplied by 10, the regulatory capital requirement for operational risk multiplied by 10 and the assets and contingent credits weighted by credit risk. | ||||||||||||||
Additional regulatory capital | S/ 594,256,000 | S/ 840,914,000 | ||||||||||||||
Percentage of solvency | 35% | 35% | ||||||||||||||
Legal and special reserves | S/ 1,670,500,000 | S/ 1,545,471,000 | ||||||||||||||
Regulatory capital requirement, Explanation of change | Through Multiple Official Letter No. 27358-2021 and Emergency Decree 003-2022, it was established that in the period between April 2021 and August 2022, the regulatory capital for financial companies shall be equal or higher than 8 percent of total risk-weighted assets and contingencies, and from September 2022 to March 2023, it will be of 8.5 percent. Once this period ends, the regulatory capital shall go back to be equal or higher than 10 percent determined as or indicated above. SBS Resolution No. 3952-2022, and its amendments, established that within the period between January and March 2023, the regulatory capital for financial companies must be equal or higher than 8.5 percent of the assets and contingent assets weighted by total risks; equal or higher than 9 percent between April 2023 and February 2024; equal or higher than 9.5 percent between March and August 2024; and 10 percent from September 2024 onwards. This also modifies the regulations for regulatory capital requirements for credit risk, revoking Official Multiple Letter No. 27358-2021-SBS and Emergency Decree No. 003-2022. | Through Multiple Official Letter No. 27358-2021 and Emergency Decree 003-2022, it was established that in the period between April 2021 and August 2022, the regulatory capital for financial companies shall be equal or higher than 8 percent of total risk-weighted assets and contingencies, and from September 2022 to March 2023, it will be of 8.5 percent. Once this period ends, the regulatory capital shall go back to be equal or higher than 10 percent determined as or indicated above. SBS Resolution No. 3952-2022, and its amendments, established that within the period between January and March 2023, the regulatory capital for financial companies must be equal or higher than 8.5 percent of the assets and contingent assets weighted by total risks; equal or higher than 9 percent between April 2023 and February 2024; equal or higher than 9.5 percent between March and August 2024; and 10 percent from September 2024 onwards. This also modifies the regulations for regulatory capital requirements for credit risk, revoking Official Multiple Letter No. 27358-2021-SBS and Emergency Decree No. 003-2022. | ||||||||||||||
Purchase of treasury shares | S/ 80,946,000 | S/ 594,000 | ||||||||||||||
Purchase Of Treasury Share | shares | 938,371 | 938,371 | ||||||||||||||
Sale Or Issue Of Treasury Share | shares | 750 | |||||||||||||||
Repurchase Of Treasury Shares Value | $ | $ 100,000,000 | |||||||||||||||
Dividend Proposed [Member] | ||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||
Dividends distribution declared | S/ 427,369,000 | $ 115,443,000 | ||||||||||||||
Dividends distribution declared, per share | $ / shares | $ 1 | |||||||||||||||
Interfondos SA Sociedad Administradora de Fondos [Member] | ||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||
Entity shares held by subsidiary, shares | shares | 967,000 | 29,000 | ||||||||||||||
Entity shares held by subsidiary, value | S/ 84,309,000 | S/ 3,363,000 | ||||||||||||||
Purchase of treasury shares | S/ 81,021,000 | $ 21,952,000 | ||||||||||||||
Reserve [Member] | ||||||||||||||||
Disclosure of classes of share capital [line items] | ||||||||||||||||
Reserve charged to retained earnings | S/ 800,000,000 |
Equity - Summary of unrealized
Equity - Summary of unrealized results (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of classes of share capital [line items] | |||
Beginning period | S/ (554,421) | S/ (168,300) | S/ 836,773 |
Effect of changes in the discount rates of pension reserves, | (968,599) | 1,711,520 | 1,389,995 |
Unrealized gain (loss) from equity instruments at fair value through other comprehensive income, net of unrealized gains (loss) | 16,055 | (21,663) | 145,899 |
Transfer to retained earnings from realized gain (loss) from equity instruments at fair value through other comprehensive income | (33,433) | (16,313) | (451,898) |
Unrealized gain (loss) from debt instruments at fair value through other comprehensive income, net of unrealized gain (loss) | 1,128,206 | (1,848,192) | (1,986,046) |
Transfer to realized gain (loss) from debt instruments at fair value through other comprehensive income, net of unrealized/realized gain (loss) | (8,350) | 14,263 | (249,689) |
Transfer of impairment gain (recovery) on debt instruments at fair value through other comprehensive income | 7,390 | 12,746 | (30,994) |
Variation for net unrealized loss on cash flow hedges | (67,980) | (70,170) | 68,615 |
Transfer of realized loss on cash flow hedges to consolidated statement of income, net of realized gain | 45,309 | 16,030 | 13,371 |
Translation of foreign operations | (21,970) | (50,165) | 95,674 |
Ending period | (457,793) | (554,421) | (168,300) |
IFRS 17 [member] | |||
Disclosure of classes of share capital [line items] | |||
Beginning period | (554,421) | ||
Ending period | (554,421) | ||
Increase (decrease) due to changes in accounting policy [member] | IFRS 17 [member] | |||
Disclosure of classes of share capital [line items] | |||
Beginning period | (134,177) | ||
Ending period | (134,177) | ||
Previously stated [member] | |||
Disclosure of classes of share capital [line items] | |||
Beginning period | (302,477) | ||
Ending period | (302,477) | ||
Equity instruments at fair value [Member] | |||
Disclosure of classes of share capital [line items] | |||
Beginning period | (46,763) | (8,787) | 297,212 |
Unrealized gain (loss) from equity instruments at fair value through other comprehensive income, net of unrealized gains (loss) | 16,055 | (21,663) | 145,899 |
Transfer to retained earnings from realized gain (loss) from equity instruments at fair value through other comprehensive income | (33,433) | (16,313) | (451,898) |
Ending period | (64,141) | (46,763) | (8,787) |
Equity instruments at fair value [Member] | Previously stated [member] | |||
Disclosure of classes of share capital [line items] | |||
Beginning period | (8,787) | ||
Ending period | (8,787) | ||
Debt instruments at fair [Member] | |||
Disclosure of classes of share capital [line items] | |||
Beginning period | (2,420,809) | (599,626) | 1,667,103 |
Unrealized gain (loss) from debt instruments at fair value through other comprehensive income, net of unrealized gain (loss) | 1,128,206 | (1,848,192) | (1,986,046) |
Transfer to realized gain (loss) from debt instruments at fair value through other comprehensive income, net of unrealized/realized gain (loss) | (8,350) | 14,263 | (249,689) |
Transfer of impairment gain (recovery) on debt instruments at fair value through other comprehensive income | 7,390 | 12,746 | (30,994) |
Ending period | (1,293,563) | (2,420,809) | (599,626) |
Debt instruments at fair [Member] | Previously stated [member] | |||
Disclosure of classes of share capital [line items] | |||
Beginning period | (599,626) | ||
Ending period | (599,626) | ||
Insurance premiums reserves [Member] | |||
Disclosure of classes of share capital [line items] | |||
Beginning period | 1,711,493 | 134,150 | (1,255,845) |
Effect of changes in the discount rates of pension reserves, | (968,599) | 1,711,520 | 1,389,995 |
Ending period | 742,894 | 1,711,493 | 134,150 |
Insurance premiums reserves [Member] | Increase (decrease) due to changes in accounting policy [member] | IFRS 17 [member] | |||
Disclosure of classes of share capital [line items] | |||
Beginning period | (134,177) | ||
Ending period | (134,177) | ||
Insurance premiums reserves [Member] | Previously stated [member] | |||
Disclosure of classes of share capital [line items] | |||
Beginning period | (27) | ||
Ending period | (27) | ||
Cash flow hedges [Member] | |||
Disclosure of classes of share capital [line items] | |||
Beginning period | (9,262) | 44,878 | (37,108) |
Variation for net unrealized loss on cash flow hedges | (67,980) | (70,170) | 68,615 |
Transfer of realized loss on cash flow hedges to consolidated statement of income, net of realized gain | 45,309 | 16,030 | 13,371 |
Ending period | (31,933) | (9,262) | 44,878 |
Cash flow hedges [Member] | Previously stated [member] | |||
Disclosure of classes of share capital [line items] | |||
Beginning period | 44,878 | ||
Ending period | 44,878 | ||
Translation of foreign operations | |||
Disclosure of classes of share capital [line items] | |||
Beginning period | 210,920 | 261,085 | 165,411 |
Translation of foreign operations | (21,970) | (50,165) | 95,674 |
Ending period | S/ 188,950 | 210,920 | 261,085 |
Translation of foreign operations | Previously stated [member] | |||
Disclosure of classes of share capital [line items] | |||
Beginning period | S/ 261,085 | ||
Ending period | S/ 261,085 |
Equity - Summary of other compr
Equity - Summary of other comprehensive income explanatory (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Equity instruments at fair value through other comprehensive income | |||
Gains (losses) on equity instruments at fair value through other comprehensive income, net | S/ 16,055 | S/ (21,663) | S/ 145,899 |
Subtotal | 16,055 | (21,663) | 145,899 |
Non-controlling interest | 8 | (43) | 231 |
Income Tax | 157 | (218) | 31 |
Total | 16,220 | (21,924) | 146,161 |
Debt instruments at fair value through other comprehensive income | |||
Net gain (loss) unrealized on debt instruments at fair value through other comprehensive income | 1,128,206 | (1,848,192) | (1,986,046) |
Transfer to income of net realized (gain) loss on debt instruments at fair value through other comprehensive income | (8,350) | 14,263 | (249,689) |
Transfer to income of loss (recovery) for impairment on debt instruments at fair value through other comprehensive income | 7,390 | 12,746 | (30,994) |
Subtotal | 1,127,246 | (1,821,183) | (2,266,729) |
Non-controlling interest | 3,618 | (4,423) | (6,978) |
Income Tax | 3,645 | (8,250) | (8,404) |
Total | 1,134,509 | (1,833,856) | (2,282,111) |
Insurance premiums reserve | 1,389,995 | ||
Non-controlling interest | 2,285 | ||
Total | 1,392,280 | ||
Insurance contracts reserve at fair value | (968,599) | 1,711,520 | |
Non-controlling interest | (1,592) | 2,814 | |
Total | (970,191) | 1,714,334 | |
Cash flow hedges: | |||
Net (loss) gain from cash flow hedges | (67,980) | (70,170) | 68,615 |
Transfer of net realized loss (gain) from cash flow hedge to consolidated statement of income | 45,309 | 16,030 | 13,371 |
Subtotal | (22,671) | (54,140) | 81,986 |
Non-controlling interest | (105) | (144) | 261 |
Income Tax | (6,336) | (8,670) | 15,696 |
Total | (29,112) | (62,954) | 97,943 |
Foreign currency translation reserve | S/ (21,970) | S/ (50,165) | S/ 95,674 |
Equity - Summary of contingent
Equity - Summary of contingent credits weighted by risk and regulatory capital explanatory (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Risk and Regulatory Capital [Abstract] | ||
Total risk weighted assets and credits | S/ 63,494,884 | S/ 64,690,083 |
Total regulatory capital | 9,811,486 | 9,754,806 |
Basic regulatory capital (Level 1) | 7,461,727 | 7,016,417 |
Supplementary regulatory capital (Level 2) | S/ 2,349,759 | S/ 2,738,389 |
Global capital to regulatory capital ratio | 15.45% | 15.08% |
Equity - Summary of equity surp
Equity - Summary of equity surplus explanatory (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 | Jan. 01, 2022 |
Disclosure of Equity Surplus [Line Items] | |||
Regulatory capital | S/ 1,038,017 | S/ 1,038,017 | S/ 1,038,017 |
Interseguro [Member] | |||
Disclosure of Equity Surplus [Line Items] | |||
Regulatory capital | 1,370,151 | 1,338,237 | |
Solvency equity (solvency margin) | 698,409 | 714,875 | |
Guarantee fund | 455,253 | 250,207 | |
Surplus | S/ 216,489 | S/ 373,155 |
Equity - Summary of risk weight
Equity - Summary of risk weighted assets capital ratio (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Disclosure of Risk Weighted Assets Capital Ratio [Line Items] | ||
Total eligible capital | $ 137,460 | $ 195,806 |
Total risk weighted assets | $ 792,352 | $ 959,241 |
Capital adequacy ratio (in percentage) | 17.35% | 20.41% |
Tax situation - Additional info
Tax situation - Additional information (Detail) | 12 Months Ended | |||||||||
Dec. 31, 2023 PEN (S/) | Dec. 31, 2022 PEN (S/) | Dec. 31, 2021 | Feb. 12, 2021 PEN (S/) | Dec. 31, 2023 PEN (S/) shares | Dec. 31, 2023 USD ($) shares | Dec. 31, 2022 PEN (S/) | Dec. 31, 2021 PEN (S/) | Mar. 31, 2023 PEN (S/) | May 19, 2020 PEN (S/) | |
Excess payment rejected by the income tax authority | ||||||||||
Income tax expenses | S/ 33,020,000 | S/ 30,587,000 | S/ 39,108,000 | |||||||
Over the taxable income | 29.50% | 29.50% | 29.50% | 29.50% | ||||||
Fines and interest arrears payable | S/ 106,145,000 | S/ 134,679,000 | S/ 106,145,000 | S/ 134,679,000 | ||||||
Additional tax rate | 29.50% | |||||||||
Threshold limit below which certain companies are exempt from the deduction regulation in respect of interest expenses | 2,500 | |||||||||
Bankerization Act [Member] | ||||||||||
Excess payment rejected by the income tax authority | ||||||||||
Amount of payment to be made through payment means | 2,000 | $ 500 | ||||||||
Section Three of Bankerization Act as Amended [Member] | ||||||||||
Excess payment rejected by the income tax authority | ||||||||||
Amount of payment to be made through payment means | 1 | |||||||||
Izipay [Member] | ||||||||||
Excess payment rejected by the income tax authority | ||||||||||
Unused tax losses | 71,552,053 | 82,931,174 | S/ 71,552,053 | 82,931,174 | ||||||
Percentage of net income eligible to be set off against tax losses | 50% | 50% | ||||||||
Resolution Of Collective Collection Number Zero One Zero Zero Six Zero Zero Six Five One Three Eight [Member] | ||||||||||
Excess payment rejected by the income tax authority | ||||||||||
Third category income tax debt payable | 62,000,000 | S/ 62,000,000 | ||||||||
Event Triggering Taxation Indirect Sale Assumption [member] | ||||||||||
Excess payment rejected by the income tax authority | ||||||||||
Number of shares disposed or to be disposed minimum | shares | 40,000 | 40,000 | ||||||||
Tax Treatment For Interest In Suspense Account [member] | Tax contingent liability [member] | ||||||||||
Excess payment rejected by the income tax authority | ||||||||||
Income tax liability and other possible contingencies | 124,000,000 | 290,000,000 | S/ 124,000,000 | 290,000,000 | ||||||
Fines and interest arrears payable | 59,000,000 | 59,000,000 | ||||||||
Income tax liability related to other minor repairs | S/ 65,000,000 | S/ 65,000,000 | ||||||||
Year Two Thousand And Twenty One And Thereafter [member] | Criteria For Interest Expense Deduction [member] | ||||||||||
Excess payment rejected by the income tax authority | ||||||||||
Interest expense as a percentage of earnings before interest tax depreciation and amortisation | 30% | 30% | ||||||||
Bottom of range [member] | Interest in suspense [member] | ||||||||||
Excess payment rejected by the income tax authority | ||||||||||
Alleged tax debt | S/ 1,000,000 | |||||||||
Bottom of range [member] | Tax Treatment For Interest In Suspense Account [member] | Tax contingent liability [member] | ||||||||||
Excess payment rejected by the income tax authority | ||||||||||
Penalties And Intrests Correspond To Intrest Suspense | S/ 25,000,000 | |||||||||
Top of range [member] | ||||||||||
Excess payment rejected by the income tax authority | ||||||||||
Percentage of the market value of shares or participations of the legal person non-domiciled | 50% | 50% | ||||||||
Percentage of the capital of legal persons non-domiciled be disposal | 10% | 10% | ||||||||
Top of range [member] | Interest in suspense [member] | ||||||||||
Excess payment rejected by the income tax authority | ||||||||||
Alleged tax debt | S/ 35,000,000 | |||||||||
Top of range [member] | Tax Treatment For Interest In Suspense Account [member] | Tax contingent liability [member] | ||||||||||
Excess payment rejected by the income tax authority | ||||||||||
Penalties And Intrests Correspond To Intrest Suspense | S/ 69,000,000 | |||||||||
SUNAT [member] | ||||||||||
Excess payment rejected by the income tax authority | ||||||||||
Minimum amount to be generated during reported period | 30,800 | 30,800 | ||||||||
SUNAT [member] | Determination And Penalty Resolutions | 2012 | ||||||||||
Excess payment rejected by the income tax authority | ||||||||||
Provision for contingency | S/ 14,400,000 | 14,000,000 | S/ 14,400,000 | 14,000,000 | ||||||
SUNAT [member] | Determination And Penalty Resolutions | 2018 | ||||||||||
Excess payment rejected by the income tax authority | ||||||||||
Provision for contingency | 74,000,000 | 74,000,000 | ||||||||
SUNAT [member] | Resolution Of Compliance Regarding Income Tax And Prepaid Income Tax [Member] | 2006 | ||||||||||
Excess payment rejected by the income tax authority | ||||||||||
Provision for contingency | 23,000,000 | 23,000,000 | ||||||||
Excess Payment Rejected By The Income Tax Authority | S/ 3,500,000 | |||||||||
SUNAT [member] | Determination Of Tax On Third Category Income Determination For The Application Of Additional Rate Of Tax Resolution For Determination Of Additional Tax Paid And Declaration Of Inaccurate Data [Member] | 2015 | ||||||||||
Excess payment rejected by the income tax authority | ||||||||||
Provision for contingency | S/ 14,600,000 | S/ 14,000,000 | S/ 14,600,000 | S/ 14,000,000 | ||||||
Additional tax rate | 4.10% | 4.10% |
Off-balance sheet accounts - Di
Off-balance sheet accounts - Disclosure of off balance sheet accounts (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 | |
Disclosure Details Of Off Balance Sheet Accounts [Line Items] | |||
Indirect loans | S/ 4,743,480 | S/ 4,487,347 | |
Notional amount asset | [1] | 8,056,031 | 11,729,795 |
Derivative liabilities notional amount | 2,578,515 | 2,579,164 | |
Off balance sheet total | 10,634,546 | 14,308,959 | |
Notional amount of assets and liabilities off balance sheet total one | 28,689,167 | 33,555,028 | |
Forward Currency Agreements Purchase [member] | |||
Disclosure Details Of Off Balance Sheet Accounts [Line Items] | |||
Notional amount asset | 1,811,147 | 1,977,324 | |
Forward Currency Agreements Sale [member] | |||
Disclosure Details Of Off Balance Sheet Accounts [Line Items] | |||
Notional amount asset | 2,316,809 | 4,057,830 | |
Foreign Currency Delivery And Receipt In Soles [member] | |||
Disclosure Details Of Off Balance Sheet Accounts [Line Items] | |||
Notional amount asset | 283,648 | 644,019 | |
Soles Delivery And Receipt In Foreign Currency [member] | |||
Disclosure Details Of Off Balance Sheet Accounts [Line Items] | |||
Notional amount asset | 1,087,151 | 2,028,514 | |
Forward Foreign Currency Agreements In Other Currencies [member] | |||
Disclosure Details Of Off Balance Sheet Accounts [Line Items] | |||
Notional amount asset | 747,736 | 292,906 | |
Consumer Credit Lines And Consumer Loans [member] | |||
Disclosure Details Of Off Balance Sheet Accounts [Line Items] | |||
Contractual capital commitments | 11,295,837 | 13,213,024 | |
Commercial Credit Lines And Commercial Loans [member] | |||
Disclosure Details Of Off Balance Sheet Accounts [Line Items] | |||
Contractual capital commitments | 2,015,304 | 1,545,698 | |
Guarantees and stand-by letters [member] | |||
Disclosure Details Of Off Balance Sheet Accounts [Line Items] | |||
Indirect loans | 4,302,772 | 4,001,806 | |
Import And Export Letter Of Credit [member] | |||
Disclosure Details Of Off Balance Sheet Accounts [Line Items] | |||
Indirect loans | 440,708 | 485,541 | |
Foreign Currency Options [member] | |||
Disclosure Details Of Off Balance Sheet Accounts [Line Items] | |||
Notional amount asset | 279,047 | 80,151 | |
Interest Rate Swaps [member] | |||
Disclosure Details Of Off Balance Sheet Accounts [Line Items] | |||
Notional amount asset | 1,530,493 | 2,424,566 | |
Cross Currency Swaps [member] | |||
Disclosure Details Of Off Balance Sheet Accounts [Line Items] | |||
Notional amount asset | 0 | 224,485 | |
Derivative liabilities notional amount | S/ 2,578,515 | S/ 2,579,164 | |
[1]During the years 2023, 2022 and 2021, the Group recognized gains for S/68,315,000 and losses for S/4,523,000 and S/60,275,000, respectively, as a result of the valuation of derivative financial instruments held for trading, which were recorded in the caption “Net (loss) gain from financial assets at fair value through profit or loss” in the consolidated statement of income. |
Interest income and expenses,_3
Interest income and expenses, and similar accounts - Summary of information about interest income (expense) (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | ||||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | ||
Interest and similar income | |||||
Interest on loan portfolio | S/ 5,353,991 | S/ 4,207,420 | S/ 3,274,402 | ||
Impact from the modification of contractual cash flows due to the loan rescheduling schemes | [1] | (29,404) | 41,110 | 120,193 | |
Interest on investments at fair value through other comprehensive income | 1,208,823 | 1,202,788 | 928,660 | ||
Interest on due from banks and inter-bank funds | 367,167 | 175,401 | 46,273 | ||
Interest on investments at amortized cost | 172,602 | 161,966 | 130,326 | ||
Dividends on financial instruments, Note 5(e) and (f) | 42,779 | 78,928 | 101,736 | ||
Others | 3,689 | 4,035 | S/ 4,453 | ||
Total | 7,120,411 | 5,871,302 | 4,605,625 | ||
Interest and similar expenses | |||||
Interest and fees on deposits and obligations | (1,662,139) | (863,335) | (334,212) | ||
Interest and fees on obligations with financial institutions | (474,362) | (234,842) | (156,490) | ||
Interest on bonds, notes and other obligations | (311,665) | (418,821) | (433,774) | ||
Deposit insurance fund fees | (81,171) | (77,920) | (70,670) | ||
Interest on lease payments, Note 8(e) | (5,562) | (9,283) | (14,004) | ||
Others | (57,488) | (48,787) | S/ (57,467) | ||
Total | S/ (2,592,366) | S/ (1,661,689) | S/ (1,057,937) | ||
[1]For rescheduled loans, Interbank recalculated the carrying amount of these financial assets as the present value of the modified contractual cash flows, discounted at the loan’s original effective interest rate. During 2023, 2022 and 2021, interest was recorded according to the rescheduled term for approximately S/9,246,000, S/22,930,000 and S/96,627,000, respectively. Likewise, as result of the rescheduling of loans under the “Reactiva Peru” program, expenses for approximately S/38,650,000, and income for approximately S/18,180,000 and S/23,566,000, respectively; were recorded. |
Interest income and expenses,_4
Interest income and expenses, and similar accounts - Summary of information about interest income (expense) (Parenthetical) (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of Summary of Information about Interest Income Expense [Line Items] | |||
Interest Income Due To Rescheduling The Duration Of The Loan | S/ 9,246,000 | S/ 22,930,000 | S/ 96,627,000 |
Reactiva Peru [Member] | |||
Disclosure of Summary of Information about Interest Income Expense [Line Items] | |||
Interest Income Due To Rescheduling | S/ 38,650,000 | S/ 18,180,000 | S/ 23,566,000 |
Interest income and expenses,_5
Interest income and expenses, and similar accounts - Summary of interest income and expenses calculated using effective interest rate (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Summary of Interest Income and Expenses Calculated Using Effective Interest Rate [Line Items] | |||
Interest revenue calculated using effective interest method | S/ 7,073,179 | S/ 5,788,685 | S/ 4,499,854 |
Financial liabilities measured at amortized cost | 2,453,728 | 1,526,281 | 938,480 |
Financial assets measured at amortized cost [member] | |||
Summary of Interest Income and Expenses Calculated Using Effective Interest Rate [Line Items] | |||
Interest revenue calculated using effective interest method | 5,864,356 | 4,585,897 | 3,571,194 |
Financial assets measured at fair value through other comprehensive income [member] | |||
Summary of Interest Income and Expenses Calculated Using Effective Interest Rate [Line Items] | |||
Interest revenue calculated using effective interest method | S/ 1,208,823 | S/ 1,202,788 | S/ 928,660 |
Fee income from financial ser_3
Fee income from financial services, net - Disclosure of fee and commission income expense explanatory (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Fee Income From Financial Services [Abstract] | |||
Accounts maintenance, carriage, transfers, and debit and credit card fees | S/ 747,568 | S/ 705,188 | S/ 562,542 |
Income from services (acquirer and issuer role) | 738,177 | 523,313 | 0 |
Banking services fees | 208,420 | 248,175 | 249,843 |
Brokerage and custody services | 5,811 | 5,836 | 8,457 |
Others | 36,393 | 34,438 | 0 |
Funds management | 137,137 | 153,948 | 184,703 |
Contingent loans fees | 68,355 | 70,038 | 64,964 |
Collection services | 60,648 | 60,931 | 52,955 |
Commission for loans rescheduling "Reactiva Peru" program | 9,343 | 16,909 | 23,722 |
Others | 19,414 | 23,259 | 37,293 |
Total | 2,031,266 | 1,842,035 | 1,184,479 |
Expenses for services (acquirer and issuer role) | (339,846) | (238,997) | 0 |
Credit cards | (199,464) | (164,722) | (128,580) |
Commissions Mastercard - Visa | (85,741) | (56,845) | 0 |
Credit life insurance premiums | (71,796) | (97,378) | (102,844) |
Local banks fees | (58,956) | (50,192) | (36,836) |
Foreign banks fees | (26,285) | (24,920) | (31,767) |
Commission for loans rescheduling "Reactiva Peru" program (Expense) | (12,930) | (22,373) | (26,215) |
Registry expenses | (1,466) | (2,046) | (3,009) |
Brokerage and custody services | (675) | (961) | (824) |
Others | (55,645) | (46,215) | (30,596) |
Total | (852,804) | (704,649) | (360,671) |
Net | S/ 1,178,462 | S/ 1,137,386 | S/ 823,808 |
Fee income from financial ser_4
Fee income from financial services, net - Disclosure of fee and commission income expense explanatory (Parenthetical) (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Fee Income From Financial Services [Abstract] | |||
Net income | S/ 5,136,000 | S/ 4,875,000 | S/ 7,633,000 |
Fee income from financial ser_5
Fee income from financial services, net - Disclosure of disaggregation of revenue from contracts with customers (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue from contracts with customers | S/ 2,031,266 | S/ 1,842,035 | S/ 1,184,479 |
Peru | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue from contracts with customers | 1,931,303 | 1,720,865 | 1,046,471 |
Panama | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue from contracts with customers | S/ 99,963 | S/ 121,170 | S/ 138,008 |
Other income and (expenses) - S
Other income and (expenses) - Summary of other operating income (expense) (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | |||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | ||
Other income | ||||
Maintenance, installation and sale of POS equipment | S/ 28,743 | S/ 22,000 | S/ 0 | |
Gain from sale of written-off-loans | 18,770 | 19,177 | 11,848 | |
Gain on sale of property, furniture and equipment, Note 8(d) | 15,300 | 11,780 | 0 | |
Other technical income from insurance operations | 10,163 | 6,489 | 8,115 | |
Services rendered to third parties | 7,512 | 7,611 | 6,836 | |
Income from ATM rentals | 5,365 | 6,459 | 4,944 | |
Gain from refunds and penalties | 0 | 18,783 | 0 | |
Income from investments in associates | 0 | 18,692 | 33,378 | |
Fair value adjustment of the participation held by Interbank in Izipay, note 1(d) | 0 | 222,513 | 0 | |
Others | 70,847 | 66,677 | 24,377 | |
Total other income | 156,700 | 400,181 | 89,498 | |
Other expenses | ||||
Commissions from insurance activities | (42,400) | (90,168) | (37,920) | |
Administrative and tax penalties | (20,198) | (7,317) | (2,672) | |
Provision for accounts receivable | (13,847) | (5,684) | (1,123) | |
Cost of sale of POS equipment | (12,819) | (27,366) | 0 | |
Sundry technical insurance expenses | (10,066) | (11,048) | (65,757) | |
Expenses related to rental income | (5,814) | (7,521) | (4,026) | |
Donations | (4,529) | (4,712) | (4,991) | |
Provision for sundry risk | (4,138) | (12,661) | (14,872) | |
Write-off of intangibles, Note 9(a) | (3,455) | (6,266) | (10,371) | |
Others | [1] | (67,726) | (67,901) | (68,460) |
Total other expenses | S/ (184,992) | S/ (240,644) | S/ (210,192) | |
[1]During the years 2023 and 2022, corresponds mainly to expenses for operational write-offs and technological failures, among other minor expenses. During 2021, corresponds mainly to non-recurring expenses derived from the Covid-19 pandemic (implementation of safety protocols and remote working, among others). |
Other income and (expenses) -_2
Other income and (expenses) - Summary of other operating income (expense) (Parenthetical) (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Other Income [Line Items] | |||
Nominal value of credits sold | S/ 1,300,296,000 | S/ 973,966,000 | S/ 501,540,000 |
Banking [Member] | |||
Other Income [Line Items] | |||
Investment in associates | S/ 5,033,000 |
Result from insurance activit_3
Result from insurance activities, before expenses - Summary of result from insurance activities (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Disclosure of Effect of Insurance Contracts Recognised [Line Items] | ||
CSM recognized for services rendered | S/ 80,778 | S/ 70,761 |
Change in risk adjustment for non-financial risk | (119) | 2,748 |
Insurance service expenses and expected claims incurred | 404,889 | 385,398 |
Recovery of cash for insurance acquisition | 10,375 | 3,358 |
Premiums assigned to the period | 224,713 | 214,910 |
Insurance revenue, amounts relating to changes in liability for remaining coverage | 720,636 | 677,175 |
Claims incurred expenses and other expenses | (1,022,291) | (1,025,274) |
Onerous contract losses and loss reversion | 12,547 | (162,882) |
Amortization of insurance acquisition cash flows | (127,009) | (118,287) |
Changes to liabilities for incurred claims | 483,179 | 582,571 |
Increase decrease through changes to liabilities for incurred claims contracts liability asset | (653,574) | (723,872) |
Insurance service results | 67,062 | (46,697) |
Reinsurance income | (6,889) | (16,417) |
Financial result of insurance operations (b) | (573,167) | (503,387) |
Result from insurance activities | (512,994) | (566,501) |
General insurance [Member] | ||
Disclosure of Effect of Insurance Contracts Recognised [Line Items] | ||
CSM recognized for services rendered | 49,191 | 43,496 |
Change in risk adjustment for non-financial risk | 1,476 | 1,562 |
Insurance service expenses and expected claims incurred | 69,145 | 76,567 |
Recovery of cash for insurance acquisition | 3,489 | 1,159 |
Premiums assigned to the period | 220,616 | 208,446 |
Insurance revenue, amounts relating to changes in liability for remaining coverage | 343,917 | 331,230 |
Claims incurred expenses and other expenses | (108,805) | (118,621) |
Onerous contract losses and loss reversion | 38,101 | 5,872 |
Amortization of insurance acquisition cash flows | (120,123) | (116,088) |
Changes to liabilities for incurred claims | (58,030) | 11,757 |
Increase decrease through changes to liabilities for incurred claims contracts liability asset | (248,857) | (217,080) |
Insurance service results | 95,060 | 114,150 |
Reinsurance income | 0 | 0 |
Financial result of insurance operations (b) | 0 | 0 |
Result from insurance activities | 95,060 | 114,150 |
Pension contract [member] | ||
Disclosure of Effect of Insurance Contracts Recognised [Line Items] | ||
CSM recognized for services rendered | 3,609 | 1,945 |
Change in risk adjustment for non-financial risk | 255 | (828) |
Insurance service expenses and expected claims incurred | 273,396 | 266,433 |
Recovery of cash for insurance acquisition | 273 | 121 |
Premiums assigned to the period | 0 | 0 |
Insurance revenue, amounts relating to changes in liability for remaining coverage | 277,533 | 267,671 |
Claims incurred expenses and other expenses | (798,733) | (813,703) |
Onerous contract losses and loss reversion | (37,190) | (174,608) |
Amortization of insurance acquisition cash flows | (273) | (121) |
Changes to liabilities for incurred claims | 477,027 | 521,781 |
Increase decrease through changes to liabilities for incurred claims contracts liability asset | (359,169) | (466,651) |
Insurance service results | (81,636) | (198,980) |
Reinsurance income | 0 | 0 |
Financial result of insurance operations (b) | (542,361) | (522,725) |
Result from insurance activities | (623,997) | (721,705) |
Life insurance contracts [member] | ||
Disclosure of Effect of Insurance Contracts Recognised [Line Items] | ||
CSM recognized for services rendered | 27,978 | 25,320 |
Change in risk adjustment for non-financial risk | (1,850) | 2,014 |
Insurance service expenses and expected claims incurred | 62,348 | 42,398 |
Recovery of cash for insurance acquisition | 6,613 | 2,078 |
Premiums assigned to the period | 4,097 | 6,464 |
Insurance revenue, amounts relating to changes in liability for remaining coverage | 99,186 | 78,274 |
Claims incurred expenses and other expenses | (114,753) | (92,950) |
Onerous contract losses and loss reversion | 11,636 | 5,854 |
Amortization of insurance acquisition cash flows | (6,613) | (2,078) |
Changes to liabilities for incurred claims | 64,182 | 49,033 |
Increase decrease through changes to liabilities for incurred claims contracts liability asset | (45,548) | (40,141) |
Insurance service results | 53,638 | 38,133 |
Reinsurance income | 0 | 0 |
Financial result of insurance operations (b) | (30,806) | 19,338 |
Result from insurance activities | S/ 22,832 | S/ 57,471 |
Result from insurance activit_4
Result from insurance activities, before expenses - Summary of result from insurance activities (Parenthetical) (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Disclosure of Effect of Insurance Contracts Recognised [Line Items] | ||
Other expenses, by nature | S/ 334,602,000 | S/ 313,647,000 |
Result from insurance activit_5
Result from insurance activities, before expenses - Summary of composition of the financial result of insurance operations explanatory (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Disclosure Of Composition Of The Financial Result Of Insurance Operations [Line Items] | ||
Changes in the obligation to pay the fair value holder of the underlying assets of direct participation agreements due to the investment's return | S/ (10,499) | S/ 27,284 |
Interest credited | (564,556) | (533,065) |
Changes in interest rate and other financial hypotheses | 2,824 | 1,729,128 |
Effect of changes in current estimates and in CSM adjustment rates in relation to the rates used in the initial recognition | (617) | (1,729,048) |
Financial expenses for issued insurance contracts | (572,848) | (505,701) |
Interest credited | (1,474) | 148 |
Effect of changes in interest rates and other financial hypotheses | 1,054 | (1,451) |
Exchange differences | ||
Effect of changes in current estimates and in CSM adjustment rates in relation to the rates used in the initial recognition | 101 | 3,617 |
Financial income from insurance contracts | (319) | 2,314 |
Result from insurance activities | (573,167) | (503,387) |
Pension Contract [Member] | ||
Disclosure Of Composition Of The Financial Result Of Insurance Operations [Line Items] | ||
Interest credited | (541,468) | (523,539) |
Changes in interest rate and other financial hypotheses | (433) | 754 |
Effect of changes in current estimates and in CSM adjustment rates in relation to the rates used in the initial recognition | 4 | (16) |
Financial expenses for issued insurance contracts | (541,897) | (522,801) |
Interest credited | (388) | 76 |
Effect of changes in interest rates and other financial hypotheses | (76) | |
Financial income from insurance contracts | (464) | 76 |
Result from insurance activities | (542,361) | (522,725) |
Life Insurance Contract [Member] | ||
Disclosure Of Composition Of The Financial Result Of Insurance Operations [Line Items] | ||
Changes in the obligation to pay the fair value holder of the underlying assets of direct participation agreements due to the investment's return | (10,499) | 27,284 |
Interest credited | (23,088) | (9,526) |
Changes in interest rate and other financial hypotheses | 3,257 | 1,728,374 |
Effect of changes in current estimates and in CSM adjustment rates in relation to the rates used in the initial recognition | (621) | (1,729,032) |
Financial expenses for issued insurance contracts | (30,951) | 17,100 |
Interest credited | (1,086) | 72 |
Effect of changes in interest rates and other financial hypotheses | 1,130 | (1,451) |
Effect of changes in current estimates and in CSM adjustment rates in relation to the rates used in the initial recognition | 101 | 3,617 |
Financial income from insurance contracts | 145 | 2,238 |
Result from insurance activities | S/ (30,806) | S/ 19,338 |
Result from insurance activit_6
Result from insurance activities, before expenses - Summary of net premium explanatory (Detail) S/ in Thousands | 12 Months Ended |
Dec. 31, 2021 PEN (S/) | |
Disclosure Of Net Premium Explanatory [Line Items] | |
Premiums assumed | S/ 1,051,397 |
Adjustment of technical reserves | (395,265) |
Gross premiums | 656,132 |
Premiums ceded to reinsurers | (10,865) |
Net premiums earned | 645,267 |
Annuities [Member] | |
Disclosure Of Net Premium Explanatory [Line Items] | |
Premiums assumed | 614,899 |
Adjustment of technical reserves | (291,076) |
Gross premiums | 323,823 |
Premiums ceded to reinsurers | 0 |
Net premiums earned | 323,823 |
Group Life [Member] | |
Disclosure Of Net Premium Explanatory [Line Items] | |
Premiums assumed | 136,743 |
Adjustment of technical reserves | (2,189) |
Gross premiums | 134,554 |
Premiums ceded to reinsurers | (4,779) |
Net premiums earned | 129,775 |
Individual Life [Member] | |
Disclosure Of Net Premium Explanatory [Line Items] | |
Premiums assumed | 182,032 |
Adjustment of technical reserves | (76,339) |
Gross premiums | 105,693 |
Premiums ceded to reinsurers | (5,494) |
Net premiums earned | 100,199 |
Retirement (disability and survival) [Member] | |
Disclosure Of Net Premium Explanatory [Line Items] | |
Premiums assumed | 8,418 |
Adjustment of technical reserves | (9,661) |
Gross premiums | (1,243) |
Premiums ceded to reinsurers | (534) |
Net premiums earned | (1,777) |
Other [Member] | |
Disclosure Of Net Premium Explanatory [Line Items] | |
Premiums assumed | 2 |
Adjustment of technical reserves | (13,595) |
Gross premiums | (13,593) |
Premiums ceded to reinsurers | 0 |
Net premiums earned | (13,593) |
Total life insurance [Member] | |
Disclosure Of Net Premium Explanatory [Line Items] | |
Premiums assumed | 942,094 |
Adjustment of technical reserves | (392,860) |
Gross premiums | 549,234 |
Premiums ceded to reinsurers | (10,807) |
Net premiums earned | 538,427 |
Total general insurance [Member] | |
Disclosure Of Net Premium Explanatory [Line Items] | |
Premiums assumed | 109,303 |
Adjustment of technical reserves | (2,405) |
Gross premiums | 106,898 |
Premiums ceded to reinsurers | (58) |
Net premiums earned | S/ 106,840 |
Result from insurance activit_7
Result from insurance activities, before expenses - Summary of net premium explanatory (Parenthetical) (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | |
Dec. 31, 2021 | Jan. 14, 2019 | |
Renta Particular Plus Vitalicio [Member] | ||
Disclosure Of Net Premium Explanatory [Line Items] | ||
Net earned premium | S/ 57,479,000 | |
Renta Particular Plus [Member] | ||
Disclosure Of Net Premium Explanatory [Line Items] | ||
Net earned premium | 219,347,000 | |
Interseguro [Member] | PERU | Renta Particular Plus [Member] | ||
Disclosure Of Net Premium Explanatory [Line Items] | ||
Percentage of the fund available post retirement | 95.50% | |
Retirement Premium Due | S/ 3,713,000 |
Result from insurance activit_8
Result from insurance activities, before expenses - Summary of net claims and benefits incurred for life insurance contracts and others explanatory (Detail) S/ in Thousands | 12 Months Ended |
Dec. 31, 2023 PEN (S/) | |
Disclosure of reconciliation of changes in insurance contracts by remaining coverage and incurred claims [line items] | |
Claims and benefits paid, net of reinsurance recoveries | S/ (917,346) |
Gross claims and benefit [member] | |
Disclosure of reconciliation of changes in insurance contracts by remaining coverage and incurred claims [line items] | |
Claims and benefits paid, net of reinsurance recoveries | (943,884) |
Ceded claims and benefits [member | |
Disclosure of reconciliation of changes in insurance contracts by remaining coverage and incurred claims [line items] | |
Claims and benefits paid, net of reinsurance recoveries | 26,538 |
Non-life insurance contracts [member] | |
Disclosure of reconciliation of changes in insurance contracts by remaining coverage and incurred claims [line items] | |
Claims and benefits paid, net of reinsurance recoveries | (27,680) |
Non-life insurance contracts [member] | Gross claims and benefit [member] | |
Disclosure of reconciliation of changes in insurance contracts by remaining coverage and incurred claims [line items] | |
Claims and benefits paid, net of reinsurance recoveries | (27,691) |
Non-life insurance contracts [member] | Ceded claims and benefits [member | |
Disclosure of reconciliation of changes in insurance contracts by remaining coverage and incurred claims [line items] | |
Claims and benefits paid, net of reinsurance recoveries | 11 |
Annuities [Member] | Life Insurance Contract [member] | |
Disclosure of reconciliation of changes in insurance contracts by remaining coverage and incurred claims [line items] | |
Claims and benefits paid, net of reinsurance recoveries | (687,208) |
Annuities [Member] | Life Insurance Contract [member] | Gross claims and benefit [member] | |
Disclosure of reconciliation of changes in insurance contracts by remaining coverage and incurred claims [line items] | |
Claims and benefits paid, net of reinsurance recoveries | (687,208) |
Annuities [Member] | Life Insurance Contract [member] | Ceded claims and benefits [member | |
Disclosure of reconciliation of changes in insurance contracts by remaining coverage and incurred claims [line items] | |
Claims and benefits paid, net of reinsurance recoveries | 0 |
Group Life [Member] | Life Insurance Contract [member] | |
Disclosure of reconciliation of changes in insurance contracts by remaining coverage and incurred claims [line items] | |
Claims and benefits paid, net of reinsurance recoveries | (113,086) |
Group Life [Member] | Life Insurance Contract [member] | Gross claims and benefit [member] | |
Disclosure of reconciliation of changes in insurance contracts by remaining coverage and incurred claims [line items] | |
Claims and benefits paid, net of reinsurance recoveries | (124,308) |
Group Life [Member] | Life Insurance Contract [member] | Ceded claims and benefits [member | |
Disclosure of reconciliation of changes in insurance contracts by remaining coverage and incurred claims [line items] | |
Claims and benefits paid, net of reinsurance recoveries | 11,222 |
Individual Life [Member] | Life Insurance Contract [member] | |
Disclosure of reconciliation of changes in insurance contracts by remaining coverage and incurred claims [line items] | |
Claims and benefits paid, net of reinsurance recoveries | (28,260) |
Individual Life [Member] | Life Insurance Contract [member] | Gross claims and benefit [member] | |
Disclosure of reconciliation of changes in insurance contracts by remaining coverage and incurred claims [line items] | |
Claims and benefits paid, net of reinsurance recoveries | (37,049) |
Individual Life [Member] | Life Insurance Contract [member] | Ceded claims and benefits [member | |
Disclosure of reconciliation of changes in insurance contracts by remaining coverage and incurred claims [line items] | |
Claims and benefits paid, net of reinsurance recoveries | 8,789 |
Retirement (disability and survival) [Member] | Life Insurance Contract [member] | |
Disclosure of reconciliation of changes in insurance contracts by remaining coverage and incurred claims [line items] | |
Claims and benefits paid, net of reinsurance recoveries | (46,584) |
Retirement (disability and survival) [Member] | Life Insurance Contract [member] | Gross claims and benefit [member] | |
Disclosure of reconciliation of changes in insurance contracts by remaining coverage and incurred claims [line items] | |
Claims and benefits paid, net of reinsurance recoveries | (53,089) |
Retirement (disability and survival) [Member] | Life Insurance Contract [member] | Ceded claims and benefits [member | |
Disclosure of reconciliation of changes in insurance contracts by remaining coverage and incurred claims [line items] | |
Claims and benefits paid, net of reinsurance recoveries | 6,505 |
Other [Member] | Life Insurance Contract [member] | |
Disclosure of reconciliation of changes in insurance contracts by remaining coverage and incurred claims [line items] | |
Claims and benefits paid, net of reinsurance recoveries | (14,528) |
Other [Member] | Life Insurance Contract [member] | Gross claims and benefit [member] | |
Disclosure of reconciliation of changes in insurance contracts by remaining coverage and incurred claims [line items] | |
Claims and benefits paid, net of reinsurance recoveries | (14,539) |
Other [Member] | Life Insurance Contract [member] | Ceded claims and benefits [member | |
Disclosure of reconciliation of changes in insurance contracts by remaining coverage and incurred claims [line items] | |
Claims and benefits paid, net of reinsurance recoveries | S/ 11 |
Salaries and employee benefit_2
Salaries and employee benefits - Summary of salaries and employee benefits (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Expenses by nature [abstract] | |||
Salaries | S/ 655,665 | S/ 589,773 | S/ 567,938 |
Vacations, health insurance and others | 87,996 | 81,581 | 74,924 |
Social security | 66,331 | 62,637 | 60,802 |
Severance indemnities | 49,265 | 44,447 | 44,277 |
Workers' profit sharing | 38,018 | 92,042 | 59,441 |
Total | S/ 897,275 | S/ 870,480 | S/ 807,382 |
Salaries and employee benefit_3
Salaries and employee benefits - Additional information (Detail) | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Expenses by nature [abstract] | |||
Average number of employees | 8,333 | 8,076 | 7,378 |
Administrative expenses (Detail
Administrative expenses (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Profit or loss [abstract] | |||
Services received from third parties | S/ 1,202,017 | S/ 1,104,822 | S/ 909,212 |
Taxes and contributions | 77,202 | 64,008 | 44,452 |
Rental expenses | 9,643 | 10,958 | 11,841 |
Total | S/ 1,288,862 | S/ 1,179,788 | S/ 965,505 |
Earnings per share (Detail)
Earnings per share (Detail) - PEN (S/) S/ / shares in Units, shares in Thousands, S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Earnings per share [line items] | |||
Opening Balance | 115,418 | 115,418 | 115,423 |
Sale of treasury stock | 1 | 1 | |
Purchase of treasury stock | (407) | (5) | |
Closing Balance | 115,012 | 115,418 | 115,419 |
IFS's shareholders | S/ 1,072,728 | S/ 1,668,026 | S/ 1,790,155 |
Basic earnings per share attributable to IFS's shareholders (Soles) | S/ 9.327 | S/ 14.452 | S/ 15.51 |
Diluted earnings per share attributable to IFS's shareholders (Soles) | S/ 9.327 | S/ 14.452 | S/ 15.51 |
Outstanding shares [member] | |||
Earnings per share [line items] | |||
Opening Balance | 115,418 | 115,418 | 115,423 |
Sale of treasury stock | 1 | 1 | |
Purchase of treasury stock | (939) | (6) | |
Closing Balance | 114,480 | 115,418 | 115,418 |
Sharesconsidered in computation [member] | |||
Earnings per share [line items] | |||
Opening Balance | 115,418 | 115,418 | 115,423 |
Sale of treasury stock | 1 | 1 | |
Purchase of treasury stock | (939) | (6) | |
Closing Balance | 114,480 | 115,418 | 115,418 |
Transactions with related par_3
Transactions with related parties and affiliated entities - Summary of outstanding balances between related parties (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 | Jan. 01, 2022 |
Instruments at fair value through profit or loss | |||
Financial assets at fair value through profit or loss | S/ 1,714,641 | S/ 2,448,793 | |
Investments at fair value through other comprehensive income | |||
Loans, net | 46,520,382 | 45,502,998 | S/ 43,005,583 |
Liabilities | |||
Deposits and obligations | 49,188,234 | 48,530,708 | S/ 48,897,944 |
Off-balance sheet accounts | |||
Indirect loans | 4,743,480 | 4,487,347 | |
Related parties [member] | |||
Instruments at fair value through profit or loss | |||
Financial assets at fair value through profit or loss | 1,165 | 99 | |
Investments at fair value through other comprehensive income | |||
Financial assets at fair value through other comprehensive income | 64,229 | 58,378 | |
Loans, net | 1,686,288 | 1,317,453 | |
Other assets | 21,260 | 32,043 | |
Liabilities | |||
Deposits and obligations | 1,066,505 | 1,040,975 | |
Other liabilities | 6,522 | 3,215 | |
Off-balance sheet accounts | |||
Indirect loans | 76,652 | 89,707 | |
UTP [Member] | |||
Investments at fair value through other comprehensive income | |||
Trade receivables | S/ 87,902 | S/ 117,273 |
Transactions with related par_4
Transactions with related parties and affiliated entities - Additional information (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of transactions between related parties [line items] | ||
Direct loans to employees, directors and officers | S/ 209,671,000 | S/ 211,715,000 |
Participations in mutual funds classified as investment at fair value through profit or loss | 1,714,641 | S/ 2,448,793 |
Mutual Fund Investment [Member] | ||
Disclosure of transactions between related parties [line items] | ||
Participations in mutual funds classified as investment at fair value through profit or loss | S/ 7,358,000 |
Transactions with related par_5
Transactions with related parties and affiliated entities - Disclosure of transactions between related parties explanatory (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Income (expenses) | |||
Interest and similar income | S/ 7,120,411 | S/ 5,871,302 | S/ 4,605,625 |
Interest and similar expenses | (2,592,366) | (1,661,689) | (1,057,937) |
Administrative expenses | (1,288,862) | (1,179,788) | (965,505) |
Others, net | 1,736,277 | 1,679,811 | 1,729,450 |
Related parties [member] | |||
Income (expenses) | |||
Interest and similar income | 95,604 | 72,334 | 68,166 |
Rental income | 25,532 | 31,428 | 30,873 |
Valuation of financial derivative instruments | 106 | 149 | 180 |
Interest and similar expenses | (39,749) | (16,821) | (3,065) |
Administrative expenses | (38,711) | (33,758) | (44,249) |
Others, net | S/ 60,312 | S/ 51,241 | S/ 31,392 |
Transactions with related par_6
Transactions with related parties and affiliated entities - Summary of detail of loans (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Affiliated [Member] | ||
Disclosure of transactions between related parties [line items] | ||
Current loans and receivables | S/ 1,393,020 | S/ 1,127,108 |
Associates [Member] | ||
Disclosure of transactions between related parties [line items] | ||
Current loans and receivables | 369,920 | 280,052 |
Related parties [member] | ||
Disclosure of transactions between related parties [line items] | ||
Current loans and receivables | 1,762,940 | 1,407,160 |
Direct Loans [Member] | Affiliated [Member] | ||
Disclosure of transactions between related parties [line items] | ||
Current loans and receivables | 1,389,463 | 1,108,276 |
Direct Loans [Member] | Associates [Member] | ||
Disclosure of transactions between related parties [line items] | ||
Current loans and receivables | 296,825 | 209,177 |
Direct Loans [Member] | Related parties [member] | ||
Disclosure of transactions between related parties [line items] | ||
Current loans and receivables | 1,686,288 | 1,317,453 |
Indirect Loans [Member] | Affiliated [Member] | ||
Disclosure of transactions between related parties [line items] | ||
Current loans and receivables | 3,557 | 18,832 |
Indirect Loans [Member] | Associates [Member] | ||
Disclosure of transactions between related parties [line items] | ||
Current loans and receivables | 73,095 | 70,875 |
Indirect Loans [Member] | Related parties [member] | ||
Disclosure of transactions between related parties [line items] | ||
Current loans and receivables | S/ 76,652 | S/ 89,707 |
Transactions with related par_7
Transactions with related parties and affiliated entities - Summary of key personnel compensations (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of transactions between related parties [abstract] | |||
Salaries | S/ 28,325 | S/ 26,964 | S/ 24,768 |
Board of Directors' compensations | 3,151 | 3,923 | 2,861 |
Total | S/ 31,476 | S/ 30,887 | S/ 27,629 |
Business segments - Disclosure
Business segments - Disclosure of operating segments explanatory (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of operating segments [line items] | |||
Third party | S/ 10,430,128 | S/ 8,932,937 | S/ 6,980,385 |
Total income | 10,430,128 | 8,932,937 | 6,980,385 |
Consolidated statement of income data | |||
Interest and similar income | 7,120,411 | 5,871,302 | 4,605,625 |
Interest and similar expenses | (2,592,366) | (1,661,689) | (1,057,937) |
Net interest and similar income | 4,528,045 | 4,209,613 | 3,547,688 |
Impairment loss on loans, net of recoveries | (1,981,818) | (830,551) | (381,577) |
(Loss) recovery due to impairment of financial investments | S/ (7,500) | S/ (12,752) | S/ 30,898 |
Net interest and similar income after impairment loss on loans | 2,538,727 | 3,366,310 | 3,197,009 |
Fee income from financial services, net | S/ 1,178,462 | S/ 1,137,386 | S/ 823,808 |
Net (loss) gain on sale of financial investments | 6,431 | (14,285) | 250,626 |
Other income (expenses) | 551,384 | 556,710 | 655,016 |
Result from insurance activities, before expenses | (178,392) | (252,854) | |
Total net premiums earned minus claims and benefits | (272,079) | ||
Depreciation and amortization | (379,038) | (336,226) | (279,690) |
Other expenses | (2,371,129) | (2,290,912) | (1,983,079) |
Income (loss) before translation result and Income Tax | 1,346,445 | 2,166,129 | 2,391,611 |
Exchange difference | 8,427 | (25,478) | (89,320) |
Income Tax | (275,596) | (462,537) | (502,112) |
Net profit (loss) for the year | 1,079,276 | 1,678,114 | 1,800,179 |
Profit (loss), attributable to [abstract] | |||
IFS's shareholders | 1,072,728 | 1,668,026 | 1,790,155 |
Non-controlling interest | 6,548 | 10,088 | 10,024 |
Profit (loss) | 1,079,276 | 1,678,114 | 1,800,179 |
Banking [Member] | |||
Disclosure of operating segments [line items] | |||
Third party | 7,812,858 | 6,459,232 | 4,866,775 |
Inter-segment | (126,620) | (125,848) | (99,094) |
Total income | 7,686,238 | 6,333,384 | 4,767,681 |
Consolidated statement of income data | |||
Interest and similar income | 6,076,020 | 4,774,378 | 3,636,810 |
Interest and similar expenses | (2,363,800) | (1,476,942) | (893,060) |
Net interest and similar income | 3,712,220 | 3,297,436 | 2,743,750 |
Impairment loss on loans, net of recoveries | (1,981,988) | (832,919) | (379,034) |
(Loss) recovery due to impairment of financial investments | S/ 15 | S/ (732) | S/ (527) |
Net interest and similar income after impairment loss on loans | 1,730,247 | 2,463,785 | 2,364,189 |
Fee income from financial services, net | S/ 813,279 | S/ 797,711 | S/ 677,461 |
Net (loss) gain on sale of financial investments | (660) | (2,891) | 99,938 |
Other income (expenses) | 495,500 | 478,308 | 452,566 |
Depreciation and amortization | (271,526) | (257,210) | (245,432) |
Other expenses | (1,678,356) | (1,673,581) | (1,542,487) |
Income (loss) before translation result and Income Tax | 1,088,484 | 1,806,122 | 1,806,235 |
Exchange difference | (15,969) | (22,800) | 7,241 |
Income Tax | (216,366) | (409,201) | (453,198) |
Net profit (loss) for the year | 856,149 | 1,374,121 | 1,360,278 |
Profit (loss), attributable to [abstract] | |||
IFS's shareholders | 856,149 | 1,374,121 | 1,360,278 |
Profit (loss) | 856,149 | 1,374,121 | 1,360,278 |
Insurance [Member] | |||
Disclosure of operating segments [line items] | |||
Third party | 1,695,222 | 1,663,992 | 1,676,185 |
Inter-segment | (4,975) | (3,288) | (383) |
Total income | 1,690,247 | 1,660,704 | 1,675,802 |
Consolidated statement of income data | |||
Interest and similar income | 851,648 | 940,894 | 802,961 |
Interest and similar expenses | (126,704) | (130,049) | (117,531) |
Net interest and similar income | 724,944 | 810,845 | 685,430 |
(Loss) recovery due to impairment of financial investments | S/ (7,858) | S/ (26) | S/ 33,198 |
Net interest and similar income after impairment loss on loans | 717,086 | 810,819 | 718,628 |
Fee income from financial services, net | S/ (13,431) | S/ (7,160) | S/ (6,802) |
Net (loss) gain on sale of financial investments | 9,948 | (1,613) | 146,797 |
Other income (expenses) | 112,990 | 47,536 | 87,919 |
Result from insurance activities, before expenses | (178,379) | (252,854) | |
Total net premiums earned minus claims and benefits | (272,037) | ||
Depreciation and amortization | (21,658) | (23,682) | (25,035) |
Other expenses | (352,933) | (318,528) | (325,242) |
Income (loss) before translation result and Income Tax | 273,623 | 254,518 | 324,228 |
Exchange difference | 18,430 | 950 | (51,493) |
Net profit (loss) for the year | 292,053 | 255,468 | 272,735 |
Profit (loss), attributable to [abstract] | |||
IFS's shareholders | 292,053 | 255,468 | 272,735 |
Profit (loss) | 292,053 | 255,468 | 272,735 |
Wealth Management [Member] | |||
Disclosure of operating segments [line items] | |||
Third party | 291,408 | 75,706 | 487,339 |
Inter-segment | (1,386) | (1,668) | (3,402) |
Total income | 290,022 | 74,038 | 483,937 |
Consolidated statement of income data | |||
Interest and similar income | 183,926 | 155,116 | 154,328 |
Interest and similar expenses | (98,370) | (50,306) | (39,840) |
Net interest and similar income | 85,556 | 104,810 | 114,488 |
Impairment loss on loans, net of recoveries | 170 | 2,368 | (2,543) |
(Loss) recovery due to impairment of financial investments | S/ 347 | S/ (11,981) | S/ (1,615) |
Net interest and similar income after impairment loss on loans | 86,073 | 95,197 | 110,330 |
Fee income from financial services, net | S/ 146,223 | S/ 163,325 | S/ 196,959 |
Net (loss) gain on sale of financial investments | (2,857) | (9,781) | 3,623 |
Other income (expenses) | (37,332) | (234,702) | 132,429 |
Depreciation and amortization | (15,018) | (15,044) | (14,977) |
Other expenses | (138,589) | (130,453) | (128,444) |
Income (loss) before translation result and Income Tax | 38,500 | (131,458) | 299,920 |
Exchange difference | 761 | (7,146) | (7,570) |
Income Tax | (3,081) | (2,791) | (8,805) |
Net profit (loss) for the year | 36,180 | (141,395) | 283,545 |
Profit (loss), attributable to [abstract] | |||
IFS's shareholders | 36,180 | (141,395) | 283,545 |
Profit (loss) | 36,180 | (141,395) | 283,545 |
Payments [Member] | |||
Disclosure of operating segments [line items] | |||
Third party | 829,766 | 595,360 | |
Inter-segment | (13,862) | (12,548) | |
Total income | 815,904 | 582,812 | |
Consolidated statement of income data | |||
Interest and similar income | 9,255 | 1,569 | |
Interest and similar expenses | (4,907) | (1,269) | |
Net interest and similar income | S/ 4,348 | S/ 300 | |
Net interest and similar income after impairment loss on loans | 4,348 | 300 | |
Fee income from financial services, net | S/ 345,583 | S/ 258,728 | |
Other income (expenses) | 45,942 | 36,040 | |
Depreciation and amortization | (55,144) | (30,185) | |
Other expenses | (277,578) | (202,565) | |
Income (loss) before translation result and Income Tax | 63,151 | 62,318 | |
Exchange difference | (2,347) | 2,316 | |
Income Tax | (27,735) | (23,560) | |
Net profit (loss) for the year | 33,069 | 41,074 | |
Profit (loss), attributable to [abstract] | |||
IFS's shareholders | 33,069 | 41,074 | |
Profit (loss) | 33,069 | 41,074 | |
Holding and consolidation adjustments [Member] | |||
Disclosure of operating segments [line items] | |||
Third party | (199,126) | 138,647 | (49,914) |
Inter-segment | 146,843 | 143,352 | 102,879 |
Total income | (52,283) | 281,999 | 52,965 |
Consolidated statement of income data | |||
Interest and similar income | (438) | (655) | 11,526 |
Interest and similar expenses | 1,415 | (3,123) | (7,506) |
Net interest and similar income | 977 | (3,778) | 4,020 |
(Loss) recovery due to impairment of financial investments | S/ (4) | S/ (13) | S/ (158) |
Net interest and similar income after impairment loss on loans | 973 | (3,791 | 3,862 |
Fee income from financial services, net | S/ (113,192) | S/ (75,218) | S/ (43,810) |
Net (loss) gain on sale of financial investments | 268 | ||
Other income (expenses) | (65,716) | 229,528 | (17,898) |
Result from insurance activities, before expenses | (13) | ||
Total net premiums earned minus claims and benefits | (42) | ||
Depreciation and amortization | (15,692) | (10,105) | 5,754 |
Other expenses | 76,327 | 34,215 | 13,094 |
Income (loss) before translation result and Income Tax | (117,313) | 174,629 | (38,772) |
Exchange difference | 7,552 | 1,202 | (37,498) |
Income Tax | (28,414) | (26,985) | (40,109) |
Net profit (loss) for the year | (138,175) | 148,846 | (116,379) |
Profit (loss), attributable to [abstract] | |||
IFS's shareholders | (144,723) | 138,758 | (126,403) |
Non-controlling interest | 6,548 | 10,088 | 10,024 |
Profit (loss) | S/ (138,175) | S/ 148,846 | S/ (116,379) |
Business segments - Disclosur_2
Business segments - Disclosure of operating segments explanatory (Parenthetical) (Detail) | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Izipay [Member] | Banking [Member] | ||
Disclosure of operating segments [line items] | ||
Percentage profit share in the subsidiary company | 50% | 50% |
Business segments - Disclosur_3
Business segments - Disclosure of operating segments (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Jan. 01, 2022 | |
Disclosure of operating segments [line items] | |||
Capital expenditures | S/ 444,936 | S/ 397,066 | |
Total assets | 89,624,779 | 87,482,089 | S/ 89,954,787 |
Total liabilities | 79,616,678 | 78,055,862 | S/ 81,219,959 |
Banking [Member] | |||
Disclosure of operating segments [line items] | |||
Capital expenditures | 327,513 | 258,887 | |
Total assets | 68,437,614 | 66,977,277 | |
Total liabilities | 60,380,895 | 59,498,433 | |
Insurance [Member] | |||
Disclosure of operating segments [line items] | |||
Capital expenditures | 21,184 | 41,599 | |
Total assets | 15,225,254 | 14,133,681 | |
Total liabilities | 14,787,105 | 13,769,222 | |
Wealth Management [Member] | |||
Disclosure of operating segments [line items] | |||
Capital expenditures | 6,430 | 3,443 | |
Total assets | 4,374,266 | 5,102,598 | |
Total liabilities | 3,453,408 | 4,208,369 | |
Payments [Member] | |||
Disclosure of operating segments [line items] | |||
Capital expenditures | 89,646 | 92,133 | |
Total assets | 1,196,049 | 902,610 | |
Total liabilities | 946,660 | 686,292 | |
Holding and consolidation adjustments [Member] | |||
Disclosure of operating segments [line items] | |||
Capital expenditures | 163 | 1,004 | |
Total assets | 391,596 | 365,923 | |
Total liabilities | S/ 48,610 | S/ (106,454) |
Business segments - (Additional
Business segments - (Additional information) (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of operating segments [line items] | |||
Revenue | S/ 10,430,128 | S/ 8,932,937 | S/ 6,980,385 |
Assets | (295,748) | 331,287 | S/ (199,227) |
PERU | |||
Disclosure of operating segments [line items] | |||
Revenue | 10,185,755,000 | 8,905,940,000 | |
Assets | 85,387,995,000 | 82,507,472,000 | |
PANAMA | |||
Disclosure of operating segments [line items] | |||
Revenue | 244,373,000 | 26,997,000 | |
Assets | S/ 4,236,784,000 | S/ 4,974,617,000 |
Financial instruments classif_3
Financial instruments classification - Summary of financial instruments of the consolidated statements of financial position (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets at fair value through profit or loss | S/ 1,714,641 | S/ 2,448,793 |
Financial assets, debt instruments measured at fair value through other comprehensive income | 21,246,569 | 17,038,942 |
Financial assets, equity instruments measured at fair value through other comprehensive income | 444,878 | 512,884 |
Financial assets at amortized cost | 61,651,344 | 63,294,936 |
Total | 85,057,432 | 83,295,555 |
Financial liabilities at fair value through profit or loss | 145,395 | 297,038 |
Financial liabilities at amortized cost | 79,189,802 | 77,378,091 |
Total | 79,335,197 | 77,675,129 |
Deposits And Obligations [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities at amortized cost | 49,188,234 | 48,530,708 |
Total | 49,188,234 | 48,530,708 |
Inter Bank Funds [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities at amortized cost | 119,712 | 30,012 |
Total | 119,712 | 30,012 |
Due To Banks And Correspondents [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities at amortized cost | 9,025,930 | 7,100,646 |
Total | 9,025,930 | 7,100,646 |
Bonds Notes And Other Obligations [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities at amortized cost | 5,551,629 | 7,906,303 |
Total | 5,551,629 | 7,906,303 |
Due from customers on acceptances | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities at amortized cost | 40,565 | 45,809 |
Total | 40,565 | 45,809 |
Insurance And Reinsurance Contract Liabilities [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities at amortized cost | 12,207,536 | 11,231,321 |
Total | 12,207,536 | 11,231,321 |
Other accounts payable and other liabilities [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities at fair value through profit or loss | 145,395 | 297,038 |
Financial liabilities at amortized cost | 3,056,196 | 2,533,292 |
Total | 3,201,591 | 2,830,330 |
Cash and due from banks [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets at amortized cost | 9,818,711 | 13,193,411 |
Total | 9,818,711 | 13,193,411 |
Inter Bank Funds [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets at amortized cost | 524,915 | 296,119 |
Total | 524,915 | 296,119 |
Financial Investments [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets at fair value through profit or loss | 1,556,540 | 1,932,993 |
Financial assets, debt instruments measured at fair value through other comprehensive income | 21,246,569 | 17,038,942 |
Financial assets, equity instruments measured at fair value through other comprehensive income | 444,878 | 512,884 |
Financial assets at amortized cost | 3,474,004 | 3,302,779 |
Total | 26,721,991 | 22,787,598 |
Loans Net [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets at amortized cost | 46,520,382 | 45,502,998 |
Total | 46,520,382 | 45,502,998 |
Due from customers on acceptances | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets at amortized cost | 40,565 | 45,809 |
Total | 40,565 | 45,809 |
Other accounts receivable and other assets, net [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets at fair value through profit or loss | 158,101 | 515,800 |
Financial assets at amortized cost | 1,246,480 | 919,767 |
Total | 1,404,581 | 1,435,567 |
Reinsurance Contract Assets [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets at amortized cost | 26,287 | 34,053 |
Total | S/ 26,287 | S/ 34,053 |
Financial risk management - Dis
Financial risk management - Disclosure of internal credit exposures explanatory (Detail) | Dec. 31, 2023 | Dec. 31, 2022 |
Sub-standard grade [member] | Small Business Banking | ||
Disclosure of internal credit grades [line items] | ||
Probability Of Default Range Percentage | 31.70% | 24.60% |
Standard grade [member] | Small Business Banking | Bottom of range [member] | ||
Disclosure of internal credit grades [line items] | ||
Probability Of Default Range Percentage | 15.27% | 15.06% |
Standard grade [member] | Small Business Banking | Top of range [member] | ||
Disclosure of internal credit grades [line items] | ||
Probability Of Default Range Percentage | 31.69% | 24.59% |
High grade [member] | Small Business Banking | ||
Disclosure of internal credit grades [line items] | ||
Probability Of Default Range Percentage | 15.26% | 15.05% |
Credit card | Sub-standard grade [member] | Personal Banking | ||
Disclosure of internal credit grades [line items] | ||
Probability Of Default Range Percentage | 16.99% | 17.53% |
Credit card | Standard grade [member] | Personal Banking | Bottom of range [member] | ||
Disclosure of internal credit grades [line items] | ||
Probability Of Default Range Percentage | 7.13% | 7.37% |
Credit card | Standard grade [member] | Personal Banking | Top of range [member] | ||
Disclosure of internal credit grades [line items] | ||
Probability Of Default Range Percentage | 16.98% | 17.52% |
Credit card | High grade [member] | Personal Banking | ||
Disclosure of internal credit grades [line items] | ||
Probability Of Default Range Percentage | 7.12% | 7.36% |
Mortgage loans [member] | Sub-standard grade [member] | Personal Banking | ||
Disclosure of internal credit grades [line items] | ||
Probability Of Default Range Percentage | 6.81% | 3.77% |
Mortgage loans [member] | Standard grade [member] | Personal Banking | Bottom of range [member] | ||
Disclosure of internal credit grades [line items] | ||
Probability Of Default Range Percentage | 2.08% | 1.16% |
Mortgage loans [member] | Standard grade [member] | Personal Banking | Top of range [member] | ||
Disclosure of internal credit grades [line items] | ||
Probability Of Default Range Percentage | 6.80% | 3.76% |
Mortgage loans [member] | High grade [member] | Personal Banking | ||
Disclosure of internal credit grades [line items] | ||
Probability Of Default Range Percentage | 2.07% | 1.15% |
Payroll Loans | Sub-standard grade [member] | Personal Banking | ||
Disclosure of internal credit grades [line items] | ||
Probability Of Default Range Percentage | 6.44% | 16.90% |
Payroll Loans | Standard grade [member] | Personal Banking | Bottom of range [member] | ||
Disclosure of internal credit grades [line items] | ||
Probability Of Default Range Percentage | 2.81% | 3.95% |
Payroll Loans | Standard grade [member] | Personal Banking | Top of range [member] | ||
Disclosure of internal credit grades [line items] | ||
Probability Of Default Range Percentage | 6.43% | 16.89% |
Payroll Loans | High grade [member] | Personal Banking | ||
Disclosure of internal credit grades [line items] | ||
Probability Of Default Range Percentage | 2.80% | 3.94% |
Consumer | Sub-standard grade [member] | Personal Banking | ||
Disclosure of internal credit grades [line items] | ||
Probability Of Default Range Percentage | 20.79% | 18.16% |
Consumer | Standard grade [member] | Personal Banking | Bottom of range [member] | ||
Disclosure of internal credit grades [line items] | ||
Probability Of Default Range Percentage | 9.33% | 7.95% |
Consumer | Standard grade [member] | Personal Banking | Top of range [member] | ||
Disclosure of internal credit grades [line items] | ||
Probability Of Default Range Percentage | 20.78% | 18.15% |
Consumer | High grade [member] | Personal Banking | ||
Disclosure of internal credit grades [line items] | ||
Probability Of Default Range Percentage | 9.32% | 7.94% |
Vehicular | Sub-standard grade [member] | Personal Banking | ||
Disclosure of internal credit grades [line items] | ||
Probability Of Default Range Percentage | 22.91% | 9.10% |
Vehicular | Standard grade [member] | Personal Banking | Bottom of range [member] | ||
Disclosure of internal credit grades [line items] | ||
Probability Of Default Range Percentage | 9.14% | 3.25% |
Vehicular | Standard grade [member] | Personal Banking | Top of range [member] | ||
Disclosure of internal credit grades [line items] | ||
Probability Of Default Range Percentage | 22.90% | 9.09% |
Vehicular | High grade [member] | Personal Banking | ||
Disclosure of internal credit grades [line items] | ||
Probability Of Default Range Percentage | 9.13% | 3.24% |
Corporate | Sub-standard grade [member] | Small Business Banking | ||
Disclosure of internal credit grades [line items] | ||
Probability Of Default Range Percentage | 0.22% | 0.28% |
Corporate | Standard grade [member] | Small Business Banking | ||
Disclosure of internal credit grades [line items] | ||
Probability Of Default Range Percentage | 0.22% | 0.28% |
Corporate | High grade [member] | Small Business Banking | ||
Disclosure of internal credit grades [line items] | ||
Probability Of Default Range Percentage | 0.22% | 0.28% |
Institutional | Sub-standard grade [member] | Commercial Banking | ||
Disclosure of internal credit grades [line items] | ||
Probability Of Default Range Percentage | 0.55% | 0.28% |
Institutional | Standard grade [member] | Commercial Banking | ||
Disclosure of internal credit grades [line items] | ||
Probability Of Default Range Percentage | 0.55% | 0.28% |
Institutional | High grade [member] | Commercial Banking | ||
Disclosure of internal credit grades [line items] | ||
Probability Of Default Range Percentage | 0.55% | 0.28% |
Companies | Sub-standard grade [member] | Commercial Banking | ||
Disclosure of internal credit grades [line items] | ||
Probability Of Default Range Percentage | 9.68% | 6.85% |
Companies | Standard grade [member] | Commercial Banking | Bottom of range [member] | ||
Disclosure of internal credit grades [line items] | ||
Probability Of Default Range Percentage | 5.24% | 3.73% |
Companies | Standard grade [member] | Commercial Banking | Top of range [member] | ||
Disclosure of internal credit grades [line items] | ||
Probability Of Default Range Percentage | 9.67% | 6.84% |
Companies | High grade [member] | Commercial Banking | ||
Disclosure of internal credit grades [line items] | ||
Probability Of Default Range Percentage | 5.23% | 3.72% |
Real Estate | Sub-standard grade [member] | Commercial Banking | ||
Disclosure of internal credit grades [line items] | ||
Probability Of Default Range Percentage | 3.71% | 1.66% |
Real Estate | Standard grade [member] | Commercial Banking | ||
Disclosure of internal credit grades [line items] | ||
Probability Of Default Range Percentage | 3.71% | 1.66% |
Real Estate | High grade [member] | Commercial Banking | ||
Disclosure of internal credit grades [line items] | ||
Probability Of Default Range Percentage | 3.71% | 1.66% |
Financial risk management - Sum
Financial risk management - Summary of Expected Loss by Post-Model Adjustments (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure Of Detailed Information About Expected Credit Loss After Model And Post Model Adjustments [Line Items] | ||
Credit exposure | S/ 2,367,357 | S/ 2,063,350 |
Expected loss (according to Model) | ||
Disclosure Of Detailed Information About Expected Credit Loss After Model And Post Model Adjustments [Line Items] | ||
Credit exposure | 2,186,761 | 1,710,050 |
Subsequent Adjustments to the Model [Member] | ||
Disclosure Of Detailed Information About Expected Credit Loss After Model And Post Model Adjustments [Line Items] | ||
Credit exposure | 180,596 | 353,300 |
Commercial loans | ||
Disclosure Of Detailed Information About Expected Credit Loss After Model And Post Model Adjustments [Line Items] | ||
Credit exposure | 296,252 | 282,418 |
Commercial loans | Expected loss (according to Model) | ||
Disclosure Of Detailed Information About Expected Credit Loss After Model And Post Model Adjustments [Line Items] | ||
Credit exposure | 278,145 | 261,187 |
Commercial loans | Subsequent Adjustments to the Model [Member] | ||
Disclosure Of Detailed Information About Expected Credit Loss After Model And Post Model Adjustments [Line Items] | ||
Credit exposure | 18,107 | 21,231 |
Mortgage loans [member] | ||
Disclosure Of Detailed Information About Expected Credit Loss After Model And Post Model Adjustments [Line Items] | ||
Credit exposure | 87,195 | 61,618 |
Mortgage loans [member] | Expected loss (according to Model) | ||
Disclosure Of Detailed Information About Expected Credit Loss After Model And Post Model Adjustments [Line Items] | ||
Credit exposure | 84,731 | 61,618 |
Mortgage loans [member] | Subsequent Adjustments to the Model [Member] | ||
Disclosure Of Detailed Information About Expected Credit Loss After Model And Post Model Adjustments [Line Items] | ||
Credit exposure | 2,464 | |
Consumer | ||
Disclosure Of Detailed Information About Expected Credit Loss After Model And Post Model Adjustments [Line Items] | ||
Credit exposure | 1,862,382 | 1,622,382 |
Consumer | Expected loss (according to Model) | ||
Disclosure Of Detailed Information About Expected Credit Loss After Model And Post Model Adjustments [Line Items] | ||
Credit exposure | 1,709,256 | 1,296,560 |
Consumer | Subsequent Adjustments to the Model [Member] | ||
Disclosure Of Detailed Information About Expected Credit Loss After Model And Post Model Adjustments [Line Items] | ||
Credit exposure | 153,126 | 325,822 |
Small and micro-business loans [member] | ||
Disclosure Of Detailed Information About Expected Credit Loss After Model And Post Model Adjustments [Line Items] | ||
Credit exposure | 121,528 | 96,932 |
Small and micro-business loans [member] | Expected loss (according to Model) | ||
Disclosure Of Detailed Information About Expected Credit Loss After Model And Post Model Adjustments [Line Items] | ||
Credit exposure | 114,629 | 90,685 |
Small and micro-business loans [member] | Subsequent Adjustments to the Model [Member] | ||
Disclosure Of Detailed Information About Expected Credit Loss After Model And Post Model Adjustments [Line Items] | ||
Credit exposure | S/ 6,899 | S/ 6,247 |
Financial risk management - S_2
Financial risk management - Summary Of Macro Economic Variables (Detail) | Dec. 31, 2023 | Dec. 31, 2022 |
2023 [Member] | Optimistic Case Scenario [Member] | ||
Disclosure Of Macro Economic Variables [Line Items] | ||
Domestic Demand Rate | 1.70% | |
Gross Domestic Product Percentage | 2.60% | |
Unemployment Rate | (13.80%) | |
Formal average salary rate | (0.70%) | |
Informal Average Salary rate | 1.80% | |
2023 [Member] | Base Case Scenario [Member] | ||
Disclosure Of Macro Economic Variables [Line Items] | ||
Domestic Demand Rate | 1.10% | |
Gross Domestic Product Percentage | 2.30% | |
Unemployment Rate | (10.10%) | |
Formal average salary rate | (1.40%) | |
Informal Average Salary rate | 1% | |
2023 [Member] | Pessimistic Case Scenario [Member] | ||
Disclosure Of Macro Economic Variables [Line Items] | ||
Domestic Demand Rate | (0.10%) | |
Gross Domestic Product Percentage | 1.30% | |
Unemployment Rate | (5.50%) | |
Formal average salary rate | (3.60%) | |
Informal Average Salary rate | (1.10%) | |
2024 [Member] | Optimistic Case Scenario [Member] | ||
Disclosure Of Macro Economic Variables [Line Items] | ||
Domestic Demand Rate | 3.30% | 2.50% |
Private Formal Employment Percentage | 3% | |
Real Disposable Income Per Capita Percentage | 2.30% | |
Real Formal Salary Percentage | 1.30% | |
Real Informal Salary Percentage | 3.30% | |
Gross Domestic Product Percentage | 3.10% | |
Unemployment Rate | (3.90%) | |
Formal average salary rate | 1.30% | |
Informal Average Salary rate | 3.40% | |
2024 [Member] | Base Case Scenario [Member] | ||
Disclosure Of Macro Economic Variables [Line Items] | ||
Domestic Demand Rate | 3% | 1.70% |
Private Formal Employment Percentage | 2.70% | |
Real Disposable Income Per Capita Percentage | 2% | |
Real Formal Salary Percentage | 1.10% | |
Real Informal Salary Percentage | 2.90% | |
Gross Domestic Product Percentage | 2.50% | |
Unemployment Rate | (3.70%) | |
Formal average salary rate | 1% | |
Informal Average Salary rate | 2.90% | |
2024 [Member] | Pessimistic Case Scenario [Member] | ||
Disclosure Of Macro Economic Variables [Line Items] | ||
Domestic Demand Rate | 1.80% | 1% |
Private Formal Employment Percentage | 1.80% | |
Real Disposable Income Per Capita Percentage | 0.70% | |
Real Formal Salary Percentage | (2.60%) | |
Real Informal Salary Percentage | (0.10%) | |
Gross Domestic Product Percentage | 2% | |
Unemployment Rate | (3.50%) | |
Formal average salary rate | (0.70%) | |
Informal Average Salary rate | 1.30% | |
2025 [Member] | Optimistic Case Scenario [Member] | ||
Disclosure Of Macro Economic Variables [Line Items] | ||
Domestic Demand Rate | 2.90% | 2.80% |
Private Formal Employment Percentage | 3.10% | |
Real Disposable Income Per Capita Percentage | 1.80% | |
Real Formal Salary Percentage | 1.70% | |
Real Informal Salary Percentage | 3% | |
Gross Domestic Product Percentage | 3.20% | |
Unemployment Rate | (3.60%) | |
Formal average salary rate | 1.40% | |
Informal Average Salary rate | 3.50% | |
2025 [Member] | Base Case Scenario [Member] | ||
Disclosure Of Macro Economic Variables [Line Items] | ||
Domestic Demand Rate | 2.70% | 2.30% |
Private Formal Employment Percentage | 2.90% | |
Real Disposable Income Per Capita Percentage | 1.60% | |
Real Formal Salary Percentage | 1.60% | |
Real Informal Salary Percentage | 2.90% | |
Gross Domestic Product Percentage | 2.80% | |
Unemployment Rate | (3.50%) | |
Formal average salary rate | 1.20% | |
Informal Average Salary rate | 3% | |
2025 [Member] | Pessimistic Case Scenario [Member] | ||
Disclosure Of Macro Economic Variables [Line Items] | ||
Domestic Demand Rate | 2.80% | 1.90% |
Private Formal Employment Percentage | 2.90% | |
Real Disposable Income Per Capita Percentage | 1.70% | |
Real Formal Salary Percentage | 0.60% | |
Real Informal Salary Percentage | 1.80% | |
Gross Domestic Product Percentage | 2.40% | |
Unemployment Rate | (3.30%) | |
Formal average salary rate | 0.50% | |
Informal Average Salary rate | 2.30% | |
2026 [Member] | Optimistic Case Scenario [Member] | ||
Disclosure Of Macro Economic Variables [Line Items] | ||
Domestic Demand Rate | 2.80% | |
Private Formal Employment Percentage | 2.60% | |
Real Disposable Income Per Capita Percentage | 2.90% | |
Real Formal Salary Percentage | 2.10% | |
Real Informal Salary Percentage | 3.10% | |
2026 [Member] | Base Case Scenario [Member] | ||
Disclosure Of Macro Economic Variables [Line Items] | ||
Domestic Demand Rate | 2.40% | |
Private Formal Employment Percentage | 2.50% | |
Real Disposable Income Per Capita Percentage | 2.60% | |
Real Formal Salary Percentage | 1.90% | |
Real Informal Salary Percentage | 2.80% | |
2026 [Member] | Pessimistic Case Scenario [Member] | ||
Disclosure Of Macro Economic Variables [Line Items] | ||
Domestic Demand Rate | 2.30% | |
Private Formal Employment Percentage | 3.10% | |
Real Disposable Income Per Capita Percentage | 2.30% | |
Real Formal Salary Percentage | 1% | |
Real Informal Salary Percentage | 2.20% |
Financial risk management - S_3
Financial risk management - Summary Of Impact Of Multiple Scenarios On The Allowance (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of provision matrix [line items] | ||
Credit exposure | S/ 2,367,357 | S/ 2,063,350 |
Optimistic Case Scenario [Member] | ||
Disclosure of provision matrix [line items] | ||
Credit exposure | S/ 159,536 | S/ 198,113 |
Expected credit loss rate | 7% | 10% |
Base Case Scenario [Member] | ||
Disclosure of provision matrix [line items] | ||
Credit exposure | S/ 1,127,461 | S/ 1,050,333 |
Expected credit loss rate | 49% | 52% |
Pessimistic Case Scenario [Member] | ||
Disclosure of provision matrix [line items] | ||
Credit exposure | S/ 1,080,360 | S/ 814,904 |
Expected credit loss rate | 44% | 38% |
Financial risk management - S_4
Financial risk management - Summary Of Fair Value Of The Loan Guarantees (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Indirect Loans [Member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Expected credit loss | S/ 17,932 | S/ 35,495 |
Direct Loans [Member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Expected credit loss | 2,349,425 | 2,027,855 |
Financial assets impaired [member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Maximum exposure to credit risk | 89,246,563 | 87,496,622 |
Assets obtained | 36,516,692 | 37,365,934 |
Net exposure | 52,729,871 | 50,130,688 |
Expected credit loss | 2,428,465 | 2,117,324 |
Financial assets impaired [member] | Indirect Loans [Member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Assets obtained | 2,806,383 | 2,667,832 |
Financial assets impaired [member] | Cash Guarantees [Member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Assets obtained | 717,310 | 1,067,686 |
Financial assets impaired [member] | Cash Guarantees [Member] | Indirect Loans [Member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Assets obtained | 42,023 | 17,363 |
Financial assets impaired [member] | Investments Guarantees [Member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Assets obtained | 1,382,025 | 1,456,839 |
Financial assets impaired [member] | Investments Guarantees [Member] | Indirect Loans [Member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Assets obtained | 139,920 | 76,398 |
Financial assets impaired [member] | Properties Guarantees [Member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Assets obtained | 30,429,352 | 29,310,541 |
Financial assets impaired [member] | Properties Guarantees [Member] | Indirect Loans [Member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Assets obtained | 1,838,666 | 1,404,684 |
Financial assets impaired [member] | Others Guarantees [Member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Assets obtained | 3,988,005 | 5,530,868 |
Financial assets impaired [member] | Others Guarantees [Member] | Indirect Loans [Member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Assets obtained | 785,774 | 1,169,387 |
Type Of Guarantee Or Credit Impovement [Member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Maximum exposure to credit risk | 1,526,488 | 1,216,203 |
Assets obtained | 1,353,095 | 1,189,260 |
Expected credit loss | 977,640 | 690,947 |
Type Of Guarantee Or Credit Impovement [Member] | Commercial loans [member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Maximum exposure to credit risk | 398,159 | 408,104 |
Assets obtained | 665,424 | 564,774 |
Expected credit loss | 162,385 | 154,299 |
Type Of Guarantee Or Credit Impovement [Member] | Small and micro-business loans [member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Maximum exposure to credit risk | 106,028 | 91,195 |
Expected credit loss | 70,818 | 51,709 |
Type Of Guarantee Or Credit Impovement [Member] | Consumer loans [member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Maximum exposure to credit risk | 733,096 | 452,301 |
Expected credit loss | 682,417 | 430,902 |
Type Of Guarantee Or Credit Impovement [Member] | Mortgages loans [member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Maximum exposure to credit risk | 273,405 | 238,527 |
Assets obtained | 679,945 | 624,486 |
Expected credit loss | 54,651 | 45,101 |
Type Of Guarantee Or Credit Impovement [Member] | Indirect Loans [Member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Maximum exposure to credit risk | 15,800 | 26,076 |
Assets obtained | 7,726 | 0 |
Expected credit loss | 7,369 | 8,936 |
Type Of Guarantee Or Credit Impovement [Member] | Cash Guarantees [Member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Assets obtained | 10 | |
Type Of Guarantee Or Credit Impovement [Member] | Cash Guarantees [Member] | Commercial loans [member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Assets obtained | 10 | |
Type Of Guarantee Or Credit Impovement [Member] | Investments Guarantees [Member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Assets obtained | 1,237 | 2,818 |
Type Of Guarantee Or Credit Impovement [Member] | Investments Guarantees [Member] | Commercial loans [member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Assets obtained | 962 | 2,818 |
Type Of Guarantee Or Credit Impovement [Member] | Investments Guarantees [Member] | Indirect Loans [Member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Assets obtained | 275 | 0 |
Type Of Guarantee Or Credit Impovement [Member] | Properties Guarantees [Member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Assets obtained | 1,296,248 | 1,120,358 |
Type Of Guarantee Or Credit Impovement [Member] | Properties Guarantees [Member] | Commercial loans [member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Assets obtained | 608,852 | 495,872 |
Type Of Guarantee Or Credit Impovement [Member] | Properties Guarantees [Member] | Mortgages loans [member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Assets obtained | 679,945 | 624,486 |
Type Of Guarantee Or Credit Impovement [Member] | Properties Guarantees [Member] | Indirect Loans [Member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Assets obtained | 7,451 | 0 |
Type Of Guarantee Or Credit Impovement [Member] | Others Guarantees [Member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Assets obtained | 55,610 | 66,074 |
Type Of Guarantee Or Credit Impovement [Member] | Others Guarantees [Member] | Commercial loans [member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Assets obtained | 55,610 | 66,074 |
Type Of Guarantee Or Credit Impovement [Member] | Others Guarantees [Member] | Indirect Loans [Member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Assets obtained | 0 | 0 |
Type Of Guarantee Or Credit Impovement [Member] | Financial assets impaired [member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Maximum exposure to credit risk | 84,503,083 | 83,009,275 |
Assets obtained | 33,710,309 | 34,698,102 |
Net exposure | 50,792,774 | 48,311,173 |
Expected credit loss | 2,410,533 | 2,081,829 |
Type Of Guarantee Or Credit Impovement [Member] | Financial assets impaired [member] | Cash And Due From Banks [Member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Maximum exposure to credit risk | 9,818,711 | 13,193,411 |
Net exposure | 9,818,711 | 13,193,411 |
Type Of Guarantee Or Credit Impovement [Member] | Financial assets impaired [member] | Commercial loans [member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Maximum exposure to credit risk | 21,155,476 | 21,412,126 |
Assets obtained | 16,695,195 | 17,884,456 |
Net exposure | 4,460,281 | 3,527,670 |
Expected credit loss | 278,466 | 247,084 |
Type Of Guarantee Or Credit Impovement [Member] | Financial assets impaired [member] | Small and micro-business loans [member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Maximum exposure to credit risk | 933,824 | 1,358,481 |
Net exposure | 933,824 | 1,358,481 |
Expected credit loss | 121,377 | 96,768 |
Type Of Guarantee Or Credit Impovement [Member] | Financial assets impaired [member] | Consumer loans [member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Maximum exposure to credit risk | 16,325,460 | 14,967,799 |
Net exposure | 16,325,460 | 14,967,799 |
Expected credit loss | 1,862,384 | 1,622,381 |
Type Of Guarantee Or Credit Impovement [Member] | Financial assets impaired [member] | Mortgages loans [member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Maximum exposure to credit risk | 9,834,398 | 9,286,944 |
Assets obtained | 17,005,359 | 16,578,513 |
Net exposure | (7,170,961) | (7,291,569) |
Expected credit loss | 87,198 | 61,622 |
Type Of Guarantee Or Credit Impovement [Member] | Financial assets impaired [member] | Indirect Loans [Member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Maximum exposure to credit risk | 4,743,480 | 4,487,347 |
Net exposure | 1,937,097 | 1,819,515 |
Expected credit loss | 17,932 | 35,495 |
Type Of Guarantee Or Credit Impovement [Member] | Financial assets impaired [member] | Direct Loans [Member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Maximum exposure to credit risk | 48,249,158 | 47,025,350 |
Assets obtained | 33,700,554 | 34,462,969 |
Net exposure | 14,548,604 | 12,562,381 |
Expected credit loss | 2,349,425 | 2,027,855 |
Type Of Guarantee Or Credit Impovement [Member] | Financial assets impaired [member] | Debt Instruments At Amortized Cost [Member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Maximum exposure to credit risk | 3,474,004 | 3,302,779 |
Net exposure | 3,474,004 | 3,302,779 |
Expected credit loss | 62 | |
Type Of Guarantee Or Credit Impovement [Member] | Financial assets impaired [member] | Financial assets at amortised cost, class [member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Maximum exposure to credit risk | 61,541,873 | 63,521,540 |
Assets obtained | 33,700,554 | 34,462,969 |
Net exposure | 27,841,319 | 29,058,571 |
Expected credit loss | 2,349,487 | 2,027,855 |
Type Of Guarantee Or Credit Impovement [Member] | Financial assets impaired [member] | Debt Instruments At Fair Value Through Other Comprehensive Income [Member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Maximum exposure to credit risk | 21,246,569 | 17,038,942 |
Net exposure | 21,246,569 | 17,038,942 |
Expected credit loss | 61,046 | 53,974 |
Type Of Guarantee Or Credit Impovement [Member] | Financial assets impaired [member] | Derivative Financial Instruments Hedges [Member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Maximum exposure to credit risk | 59,002 | 312,718 |
Net exposure | 59,002 | 312,718 |
Type Of Guarantee Or Credit Impovement [Member] | Financial assets impaired [member] | Total Debt Instruments At Fair Value Through Other omprehensive Income [Member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Maximum exposure to credit risk | 21,246,569 | 17,038,942 |
Net exposure | 21,246,569 | 17,038,942 |
Expected credit loss | 61,046 | 53,974 |
Type Of Guarantee Or Credit Impovement [Member] | Financial assets impaired [member] | Derivative Financial Instruments Trading [Member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Maximum exposure to credit risk | 99,099 | 203,082 |
Assets obtained | 9,755 | 235,133 |
Net exposure | 89,344 | (32,051) |
Type Of Guarantee Or Credit Impovement [Member] | Financial assets impaired [member] | Financial Assets At Fair Value Through Profit Or Loss [Member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Maximum exposure to credit risk | 1,556,540 | 1,932,993 |
Net exposure | 1,556,540 | 1,932,993 |
Type Of Guarantee Or Credit Impovement [Member] | Financial assets impaired [member] | Total Financial Instruments At Fair Value Through Profit Or Loss [Member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Maximum exposure to credit risk | 1,714,641 | 2,448,793 |
Assets obtained | 9,755 | 235,133 |
Net exposure | 1,704,886 | 2,213,660 |
Type Of Guarantee Or Credit Impovement [Member] | Financial assets impaired [member] | Cash Guarantees [Member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Assets obtained | 675,287 | 1,050,323 |
Type Of Guarantee Or Credit Impovement [Member] | Financial assets impaired [member] | Cash Guarantees [Member] | Commercial loans [member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Assets obtained | 665,532 | 815,190 |
Type Of Guarantee Or Credit Impovement [Member] | Financial assets impaired [member] | Cash Guarantees [Member] | Direct Loans [Member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Assets obtained | 665,532 | 815,190 |
Type Of Guarantee Or Credit Impovement [Member] | Financial assets impaired [member] | Cash Guarantees [Member] | Financial assets at amortised cost, class [member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Assets obtained | 665,532 | 815,190 |
Type Of Guarantee Or Credit Impovement [Member] | Financial assets impaired [member] | Cash Guarantees [Member] | Derivative Financial Instruments Trading [Member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Assets obtained | 9,755 | 235,133 |
Type Of Guarantee Or Credit Impovement [Member] | Financial assets impaired [member] | Cash Guarantees [Member] | Total Financial Instruments At Fair Value Through Profit Or Loss [Member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Assets obtained | 9,755 | 235,133 |
Type Of Guarantee Or Credit Impovement [Member] | Financial assets impaired [member] | Investments Guarantees [Member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Assets obtained | 1,242,105 | 1,380,441 |
Type Of Guarantee Or Credit Impovement [Member] | Financial assets impaired [member] | Investments Guarantees [Member] | Commercial loans [member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Assets obtained | 1,242,105 | 1,380,441 |
Type Of Guarantee Or Credit Impovement [Member] | Financial assets impaired [member] | Investments Guarantees [Member] | Direct Loans [Member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Assets obtained | 1,242,105 | 1,380,441 |
Type Of Guarantee Or Credit Impovement [Member] | Financial assets impaired [member] | Investments Guarantees [Member] | Financial assets at amortised cost, class [member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Assets obtained | 1,242,105 | 1,380,441 |
Type Of Guarantee Or Credit Impovement [Member] | Financial assets impaired [member] | Properties Guarantees [Member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Assets obtained | 28,590,686 | 27,905,857 |
Type Of Guarantee Or Credit Impovement [Member] | Financial assets impaired [member] | Properties Guarantees [Member] | Commercial loans [member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Assets obtained | 11,585,327 | 11,327,344 |
Type Of Guarantee Or Credit Impovement [Member] | Financial assets impaired [member] | Properties Guarantees [Member] | Mortgages loans [member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Assets obtained | 17,005,359 | 16,578,513 |
Type Of Guarantee Or Credit Impovement [Member] | Financial assets impaired [member] | Properties Guarantees [Member] | Direct Loans [Member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Assets obtained | 28,590,686 | 27,905,857 |
Type Of Guarantee Or Credit Impovement [Member] | Financial assets impaired [member] | Properties Guarantees [Member] | Financial assets at amortised cost, class [member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Assets obtained | 28,590,686 | 27,905,857 |
Type Of Guarantee Or Credit Impovement [Member] | Financial assets impaired [member] | Others Guarantees [Member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Assets obtained | 3,202,231 | 4,361,481 |
Type Of Guarantee Or Credit Impovement [Member] | Financial assets impaired [member] | Others Guarantees [Member] | Commercial loans [member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Assets obtained | 3,202,231 | 4,361,481 |
Type Of Guarantee Or Credit Impovement [Member] | Financial assets impaired [member] | Others Guarantees [Member] | Direct Loans [Member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Assets obtained | 3,202,231 | 4,361,481 |
Type Of Guarantee Or Credit Impovement [Member] | Financial assets impaired [member] | Others Guarantees [Member] | Financial assets at amortised cost, class [member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Assets obtained | 3,202,231 | 4,361,481 |
Financial guarantee contracts [Member] | Financial assets impaired [member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Maximum exposure to credit risk | 4,302,772 | 4,001,806 |
Assets obtained | 2,763,463 | 2,634,430 |
Net exposure | 1,539,309 | 1,367,376 |
Expected credit loss | 17,667 | 35,124 |
Financial guarantee contracts [Member] | Financial assets impaired [member] | Cash Guarantees [Member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Assets obtained | 37,039 | 17,363 |
Financial guarantee contracts [Member] | Financial assets impaired [member] | Investments Guarantees [Member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Assets obtained | 111,984 | 46,810 |
Financial guarantee contracts [Member] | Financial assets impaired [member] | Properties Guarantees [Member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Assets obtained | 1,838,666 | 1,404,684 |
Financial guarantee contracts [Member] | Financial assets impaired [member] | Others Guarantees [Member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Assets obtained | 775,774 | 1,165,573 |
Letters Of Credit For Customers [Member] | Financial assets impaired [member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Maximum exposure to credit risk | 440,708 | 485,541 |
Assets obtained | 42,920 | 33,402 |
Net exposure | 397,788 | 452,139 |
Expected credit loss | 265 | 371 |
Letters Of Credit For Customers [Member] | Financial assets impaired [member] | Cash Guarantees [Member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Assets obtained | 4,984 | |
Letters Of Credit For Customers [Member] | Financial assets impaired [member] | Investments Guarantees [Member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Assets obtained | 27,936 | 29,588 |
Letters Of Credit For Customers [Member] | Financial assets impaired [member] | Properties Guarantees [Member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Assets obtained | 0 | |
Letters Of Credit For Customers [Member] | Financial assets impaired [member] | Others Guarantees [Member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Assets obtained | S/ 10,000 | S/ 3,814 |
Financial risk management - S_5
Financial risk management - Summary Of Fair Value Of The Loan Guarantees Classified In Stage 3 (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Indirect Loans [Member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Expected credit loss | S/ 17,932 | S/ 35,495 |
Type Of Guarantee Or Credit Impovement [Member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Maximum exposure to credit risk | 1,526,488 | 1,216,203 |
Assets obtained | 1,353,095 | 1,189,260 |
Credit exposure | 173,393 | 26,943 |
Expected credit loss | 977,640 | 690,947 |
Type Of Guarantee Or Credit Impovement [Member] | Cash Guarantees [Member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Assets obtained | 10 | |
Type Of Guarantee Or Credit Impovement [Member] | Investments Guarantees [Member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Assets obtained | 1,237 | 2,818 |
Type Of Guarantee Or Credit Impovement [Member] | Properties Guarantees [Member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Assets obtained | 1,296,248 | 1,120,358 |
Type Of Guarantee Or Credit Impovement [Member] | Others Guarantees [Member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Assets obtained | 55,610 | 66,074 |
Type Of Guarantee Or Credit Impovement [Member] | Commercial loans [member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Maximum exposure to credit risk | 398,159 | 408,104 |
Assets obtained | 665,424 | 564,774 |
Credit exposure | (267,265) | (156,670) |
Expected credit loss | 162,385 | 154,299 |
Type Of Guarantee Or Credit Impovement [Member] | Commercial loans [member] | Cash Guarantees [Member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Assets obtained | 10 | |
Type Of Guarantee Or Credit Impovement [Member] | Commercial loans [member] | Investments Guarantees [Member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Assets obtained | 962 | 2,818 |
Type Of Guarantee Or Credit Impovement [Member] | Commercial loans [member] | Properties Guarantees [Member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Assets obtained | 608,852 | 495,872 |
Type Of Guarantee Or Credit Impovement [Member] | Commercial loans [member] | Others Guarantees [Member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Assets obtained | 55,610 | 66,074 |
Type Of Guarantee Or Credit Impovement [Member] | Small and micro-business loans [member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Maximum exposure to credit risk | 106,028 | 91,195 |
Credit exposure | 106,028 | 91,195 |
Expected credit loss | 70,818 | 51,709 |
Type Of Guarantee Or Credit Impovement [Member] | Consumer loans [member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Maximum exposure to credit risk | 733,096 | 452,301 |
Credit exposure | 733,096 | 452,301 |
Expected credit loss | 682,417 | 430,902 |
Type Of Guarantee Or Credit Impovement [Member] | Mortgages loans [member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Maximum exposure to credit risk | 273,405 | 238,527 |
Assets obtained | 679,945 | 624,486 |
Credit exposure | (406,540) | (385,959) |
Expected credit loss | 54,651 | 45,101 |
Type Of Guarantee Or Credit Impovement [Member] | Mortgages loans [member] | Properties Guarantees [Member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Assets obtained | 679,945 | 624,486 |
Type Of Guarantee Or Credit Impovement [Member] | Financial assets measured at amortized cost [Member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Maximum exposure to credit risk | 1,510,688 | 1,190,127 |
Assets obtained | 1,345,369 | 1,189,260 |
Credit exposure | 165,319 | 867 |
Expected credit loss | 970,271 | 682,011 |
Type Of Guarantee Or Credit Impovement [Member] | Financial assets measured at amortized cost [Member] | Cash Guarantees [Member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Assets obtained | 10 | |
Type Of Guarantee Or Credit Impovement [Member] | Financial assets measured at amortized cost [Member] | Investments Guarantees [Member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Assets obtained | 962 | 2,818 |
Type Of Guarantee Or Credit Impovement [Member] | Financial assets measured at amortized cost [Member] | Properties Guarantees [Member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Assets obtained | 1,288,797 | 1,120,358 |
Type Of Guarantee Or Credit Impovement [Member] | Financial assets measured at amortized cost [Member] | Others Guarantees [Member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Assets obtained | 55,610 | 66,074 |
Type Of Guarantee Or Credit Impovement [Member] | Indirect Loans [Member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Maximum exposure to credit risk | 15,800 | 26,076 |
Assets obtained | 7,726 | 0 |
Credit exposure | 8,074 | 26,076 |
Expected credit loss | 7,369 | 8,936 |
Type Of Guarantee Or Credit Impovement [Member] | Indirect Loans [Member] | Investments Guarantees [Member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Assets obtained | 275 | 0 |
Type Of Guarantee Or Credit Impovement [Member] | Indirect Loans [Member] | Properties Guarantees [Member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Assets obtained | 7,451 | 0 |
Type Of Guarantee Or Credit Impovement [Member] | Indirect Loans [Member] | Others Guarantees [Member] | ||
Disclosure Of Fair Value Of The Loan Guarantees [Line Items] | ||
Assets obtained | S/ 0 | S/ 0 |
Financial risk management - S_6
Financial risk management - Summary Of Group Determines Its Level Of Risk (Detail) | Dec. 31, 2023 | Dec. 31, 2022 |
Global [Member] | Grade Lower than Standard Rating From CCC to C [Member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Probability of Default Percentage | 22.97% | 23.34% |
Latin America [Member] | High Grade Rating from AAA to A [Member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Probability of Default Percentage | 0% | 0% |
Latin America [Member] | Grade Lower than Standard Rating From CCC to C [Member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Probability of Default Percentage | 22.80% | 24.64% |
Sovereigns [Member] | High Grade Rating from AAA to A [Member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Probability of Default Percentage | 0% | 0% |
Sovereigns [Member] | Grade Lower than Standard Rating From CCC to C [Member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Probability of Default Percentage | 25.45% | 27.08% |
Bottom of range [member] | Global [Member] | High Grade Rating from AAA to A [Member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Probability of Default Percentage | 0.04% | 0.05% |
Bottom of range [member] | Global [Member] | Standard Grade Rating From BBB to B [Member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Probability of Default Percentage | 0.12% | 0.12% |
Bottom of range [member] | Latin America [Member] | Standard Grade Rating From BBB to B [Member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Probability of Default Percentage | 0.09% | 0.09% |
Bottom of range [member] | Sovereigns [Member] | Standard Grade Rating From BBB to B [Member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Probability of Default Percentage | 0% | 0% |
Top of range [member] | Global [Member] | High Grade Rating from AAA to A [Member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Probability of Default Percentage | 0.11% | 0.11% |
Top of range [member] | Global [Member] | Standard Grade Rating From BBB to B [Member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Probability of Default Percentage | 2.11% | 2.09% |
Top of range [member] | Latin America [Member] | Standard Grade Rating From BBB to B [Member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Probability of Default Percentage | 2.91% | 3.02% |
Top of range [member] | Sovereigns [Member] | Standard Grade Rating From BBB to B [Member] | ||
Disclosure of nature and extent of risks arising from financial instruments [line items] | ||
Probability of Default Percentage | 1.87% | 1.55% |
Financial risk management - S_7
Financial risk management - Summary Of Credit Risk Ratings Issued by Risk Rating Agencies (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of external credit grades [line items] | ||
Credit exposure | S/ 2,367,357 | S/ 2,063,350 |
Unrated [Member] | ||
Disclosure of external credit grades [line items] | ||
Credit exposure | S/ 26,721,991 | S/ 22,787,598 |
Credit Exposure Percentage | 100% | 100% |
Unrated [Member] | Listed Shares [Member] | ||
Disclosure of external credit grades [line items] | ||
Credit exposure | S/ 660,839 | S/ 790,408 |
Credit Exposure Percentage | 2.50% | 3.50% |
Unrated [Member] | Non Listed Shares [Member] | ||
Disclosure of external credit grades [line items] | ||
Credit exposure | S/ 229,933 | S/ 226,953 |
Credit Exposure Percentage | 0.90% | 1% |
Instruments Issued And Rated In Peru [Member] | ||
Disclosure of external credit grades [line items] | ||
Credit exposure | S/ 3,268,924 | S/ 3,075,744 |
Credit Exposure Percentage | 12.20% | 13.50% |
Instruments Issued And Rated In Peru [Member] | AAA [Member] | ||
Disclosure of external credit grades [line items] | ||
Credit exposure | S/ 2,944 | |
Credit Exposure Percentage | 0% | 0% |
Instruments Issued And Rated In Peru [Member] | BBB- / BBB+ [Member] | ||
Disclosure of external credit grades [line items] | ||
Credit exposure | S/ 2,611,807 | S/ 2,387,376 |
Credit Exposure Percentage | 9.80% | 10.50% |
Instruments Issued And Rated In Peru [Member] | BB- / BB+ [Member] | ||
Disclosure of external credit grades [line items] | ||
Credit exposure | S/ 652,347 | S/ 685,424 |
Credit Exposure Percentage | 2.40% | 3% |
Instruments Issued And Rated In Peru [Member] | B- / B+ [Member] | ||
Disclosure of external credit grades [line items] | ||
Credit exposure | S/ 4,770 | |
Credit Exposure Percentage | 0% | 0% |
Instruments Issued In Peru And Rated Abroad [Member] | ||
Disclosure of external credit grades [line items] | ||
Credit exposure | S/ 13,879,016 | S/ 12,256,305 |
Credit Exposure Percentage | 51.90% | 53.80% |
Instruments Issued In Peru And Rated Abroad [Member] | BBB- / BBB+ [Member] | ||
Disclosure of external credit grades [line items] | ||
Credit exposure | S/ 13,174,718 | S/ 11,710,437 |
Credit Exposure Percentage | 49.30% | 51.40% |
Instruments Issued In Peru And Rated Abroad [Member] | BB- / BB+ [Member] | ||
Disclosure of external credit grades [line items] | ||
Credit exposure | S/ 490,215 | S/ 545,868 |
Credit Exposure Percentage | 1.80% | 2.40% |
Instruments Issued In Peru And Rated Abroad [Member] | B- / B+ [Member] | ||
Disclosure of external credit grades [line items] | ||
Credit exposure | S/ 214,083 | |
Credit Exposure Percentage | 0.80% | 0% |
Instruments Issued And Rated Abroad [Member] | ||
Disclosure of external credit grades [line items] | ||
Credit exposure | S/ 3,624,720 | S/ 3,162,570 |
Credit Exposure Percentage | 13.60% | 13.90% |
Instruments Issued And Rated Abroad [Member] | AAA [Member] | ||
Disclosure of external credit grades [line items] | ||
Credit exposure | S/ 11,105 | S/ 41,198 |
Credit Exposure Percentage | 0% | 0.20% |
Instruments Issued And Rated Abroad [Member] | AA- / AA+ [Member] | ||
Disclosure of external credit grades [line items] | ||
Credit exposure | S/ 145,599 | S/ 26,077 |
Credit Exposure Percentage | 0.50% | 0.10% |
Instruments Issued And Rated Abroad [Member] | A- / A+ [member] | ||
Disclosure of external credit grades [line items] | ||
Credit exposure | S/ 656,237 | S/ 489,765 |
Credit Exposure Percentage | 2.50% | 2.20% |
Instruments Issued And Rated Abroad [Member] | BBB- / BBB+ [Member] | ||
Disclosure of external credit grades [line items] | ||
Credit exposure | S/ 2,565,054 | S/ 2,247,646 |
Credit Exposure Percentage | 9.60% | 9.90% |
Instruments Issued And Rated Abroad [Member] | BB- / BB+ [Member] | ||
Disclosure of external credit grades [line items] | ||
Credit exposure | S/ 228,812 | S/ 295,812 |
Credit Exposure Percentage | 0.90% | 1.30% |
Instruments Issued And Rated Abroad [Member] | B- / B+ [Member] | ||
Disclosure of external credit grades [line items] | ||
Credit exposure | S/ 16,190 | S/ 61,089 |
Credit Exposure Percentage | 0.10% | 0.30% |
Instruments Issued And Rated Abroad [Member] | Less than B- [Member] | ||
Disclosure of external credit grades [line items] | ||
Credit exposure | S/ 1,723 | S/ 983 |
Credit Exposure Percentage | 0% | 0% |
Certificate Of Deposits With Variable Interest Rates Issued By BCRP [Member] | Unrated [Member] | ||
Disclosure of external credit grades [line items] | ||
Credit exposure | S/ 1,434,836 | |
Credit Exposure Percentage | 0% | 6.30% |
Negotiable Certificates Of Deposits Issued By BCRP [Member] | Unrated [Member] | ||
Disclosure of external credit grades [line items] | ||
Credit exposure | S/ 3,448,984 | S/ 43,868 |
Credit Exposure Percentage | 12.90% | 0.20% |
Mutual Funds And Investment Funds Participations [Member] | Unrated [Member] | ||
Disclosure of external credit grades [line items] | ||
Credit exposure | S/ 1,099,282 | S/ 1,402,848 |
Credit Exposure Percentage | 4.10% | 6.20% |
Securitized Bonds [Member] | Unrated [Member] | ||
Disclosure of external credit grades [line items] | ||
Credit exposure | S/ 3,008 | |
Credit Exposure Percentage | 0% | 0% |
Others [Member] | Unrated [Member] | ||
Disclosure of external credit grades [line items] | ||
Credit exposure | S/ 81,910 | S/ 1 |
Credit Exposure Percentage | 0.30% | 0% |
Nonlisted Shares And Participations [Member] | Unrated [Member] | ||
Disclosure of external credit grades [line items] | ||
Credit exposure | S/ 26,296,616 | S/ 22,393,533 |
Credit Exposure Percentage | 98.40% | 98.30% |
Accrued interest [member] | Unrated [Member] | ||
Disclosure of external credit grades [line items] | ||
Credit exposure | S/ 425,375 | S/ 394,065 |
Credit Exposure Percentage | 1.60% | 1.70% |
Financial risk management - Add
Financial risk management - Additional information - (Detail) S/ in Thousands, $ in Thousands | 12 Months Ended | |||||
Dec. 31, 2023 PEN (S/) SBS | Dec. 31, 2022 PEN (S/) SBS | Dec. 31, 2020 PEN (S/) | Dec. 31, 2023 USD ($) SBS | Dec. 31, 2022 USD ($) SBS | Jan. 01, 2022 PEN (S/) | |
Disclosure of provision matrix [line items] | ||||||
Financial assets in fixed income instruments | S/ 26,721,991 | S/ 22,787,598 | S/ 24,547,294 | |||
Indirect loans | 4,743,480 | 4,487,347 | ||||
Rescheduled Loans | 3,513,905,000 | 5,048,978,000 | ||||
Retail clients rescheduled | 1,979,342,000 | |||||
Rescheduled Loans Value | 3,513,950,000 | 5,048,978,000 | ||||
Interbank [Member] | ||||||
Disclosure of provision matrix [line items] | ||||||
Rescheduled Loans | S/ 1,979,342,000 | |||||
Interest rate risk [member] | ||||||
Disclosure of provision matrix [line items] | ||||||
Cash legal limit percentage | 5% | 5% | ||||
Cash early warning limit percentage | 4% | 4% | ||||
Value at risk internal indicator percentage | 15% | 15% | ||||
Value at risk early warning indicator percentage | 13% | 13% | ||||
Foreign currency [Member] | ||||||
Disclosure of provision matrix [line items] | ||||||
Indirect loans | S/ 2,751,640,000 | S/ 2,343,341,000 | $ 741,882,000 | $ 614,405,000 | ||
Closing foreign exchange rate | SBS | 3.709 | 3.814 | 3.709 | 3.814 | ||
Peru, Nuevos Soles | ||||||
Disclosure of provision matrix [line items] | ||||||
Financial assets in fixed income instruments | S/ 19,569,726 | S/ 15,884,533 | ||||
Reactiva Peru [Member] | ||||||
Disclosure of provision matrix [line items] | ||||||
Rescheduled Loans | 25,928,000 | 133,046,000 | ||||
Balance of credits rescheduled | 730,508,000 | 1,473,770,000 | ||||
Payment towards loans and advances | S/ 6,617,142,000 | |||||
Loans and advances to customers | 848,886,000 | 2,357,201,000 | ||||
Interest income on loans and advances to customers | 38,650,000 | 18,180,000 | ||||
Loan and advance amount covered by government guarantee | 675,492,000 | 2,040,379,000 | ||||
Reactiva Peru [Member] | Interbank [Member] | ||||||
Disclosure of provision matrix [line items] | ||||||
Interest income on loans and advances to customers | S/ 46,277,000 | S/ 57,254,000 | ||||
Top of range [member] | ||||||
Disclosure of provision matrix [line items] | ||||||
Absolute variation percentage | 7.50% | 7% | ||||
Relative variation percentage | 417.20% | 588% | ||||
Weighted average [member] | Peru, Nuevos Soles | ||||||
Disclosure of provision matrix [line items] | ||||||
Closing foreign exchange rate | SBS | 3.713 | 3.82 | 3.713 | 3.82 | ||
Weighted average [member] | Peru, Nuevos Soles | Peru Currency Ask For Every US Dollar Bid [Member] | ||||||
Disclosure of provision matrix [line items] | ||||||
Closing foreign exchange rate | SBS | 3.705 | 3.808 | 3.705 | 3.808 | ||
Financial Investments [Member] | ||||||
Disclosure of provision matrix [line items] | ||||||
Expected credit loss rate | 90.20% | 88% | 90.20% | 88% | ||
Financial assets in fixed income instruments | S/ 1,011,043,000 | S/ 1,036,763,000 | ||||
Accounts Receivable Insurance Premiums | ||||||
Disclosure of provision matrix [line items] | ||||||
Expected credit loss rate | 97.20% | 97.70% | 97.20% | 97.70% | ||
Direct loans [member] | ||||||
Disclosure of provision matrix [line items] | ||||||
Expected credit loss rate | 4.90% | 4.30% | 4.90% | 4.30% | ||
Financial assets in fixed income instruments | S/ 200,177,000 | S/ 163,534,000 | ||||
Indirect Loans [Member] | ||||||
Disclosure of provision matrix [line items] | ||||||
Expected credit loss rate | 0.40% | 0.80% | 0.40% | 0.80% | ||
Financial assets in fixed income instruments | S/ 388,482,000 | S/ 549,128,000 | ||||
Cash and due from banks [Member] | ||||||
Disclosure of provision matrix [line items] | ||||||
Expected credit loss rate | 76% | 74.20% | 76% | 74.20% | ||
Loan Portfolio [Member] | Financial assets neither past due nor impaired [member] | ||||||
Disclosure of provision matrix [line items] | ||||||
Expected credit loss rate | 89.80% | 92.60% | 89.80% | 92.60% | ||
Loans [Member] | ||||||
Disclosure of provision matrix [line items] | ||||||
Financial assets in fixed income instruments | S/ 588,659,000 | S/ 712,662,000 | ||||
Loans [Member] | Lower Credit Risk [Member] | ||||||
Disclosure of provision matrix [line items] | ||||||
Expected credit loss rate | 85.30% | 89.80% | 85.30% | 89.80% |
Financial risk management - S_8
Financial risk management - Summary of Financial Instruments Exposed to Credit Risk by Economic Sectors (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | S/ 85,057,432 | S/ 83,295,555 |
Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 86,360,833 | 84,423,842 |
Gross carrying amount | Designated at fair value through profit or loss | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 1,714,641 | 2,448,793 |
Gross carrying amount | Debt instruments measured at fair value through other comprehensive income | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 20,912,184 | 16,716,517 |
Gross carrying amount | Equity instruments measured at fair value through other comprehensive income | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 444,878 | 512,884 |
Gross carrying amount | Amortized cost | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 63,289,130 | 64,745,648 |
Impairment allowance for loans | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | (2,349,425) | (2,027,855) |
Accrued interest | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 1,046,024 | 899,568 |
Consumer loans | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 16,354,337 | 15,005,146 |
Consumer loans | Gross carrying amount | Amortized cost | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 16,354,337 | 15,005,146 |
Government of Peru | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 11,546,630 | 10,293,205 |
Government of Peru | Gross carrying amount | Debt instruments measured at fair value through other comprehensive income | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 8,239,321 | 7,062,066 |
Government of Peru | Gross carrying amount | Amortized cost | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 3,307,309 | 3,231,139 |
Mortgage loans | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 9,844,293 | 9,316,214 |
Mortgage loans | Gross carrying amount | Designated at fair value through profit or loss | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 22,314 | |
Mortgage loans | Gross carrying amount | Amortized cost | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 9,844,293 | 9,293,900 |
BCRP | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 9,375,905 | 8,841,441 |
BCRP | Gross carrying amount | Debt instruments measured at fair value through other comprehensive income | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 3,448,984 | 1,478,704 |
BCRP | Gross carrying amount | Amortized cost | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 5,926,921 | 7,362,737 |
Financial services | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 9,015,255 | 11,291,403 |
Financial services | Gross carrying amount | Designated at fair value through profit or loss | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 1,450,713 | 2,080,295 |
Financial services | Gross carrying amount | Debt instruments measured at fair value through other comprehensive income | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 1,609,137 | 1,694,266 |
Financial services | Gross carrying amount | Equity instruments measured at fair value through other comprehensive income | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 121,083 | 170,250 |
Financial services | Gross carrying amount | Amortized cost | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 5,834,322 | 7,346,592 |
Manufacturing | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 5,520,800 | 5,619,142 |
Manufacturing | Gross carrying amount | Designated at fair value through profit or loss | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 79,551 | 74,791 |
Manufacturing | Gross carrying amount | Debt instruments measured at fair value through other comprehensive income | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 807,805 | 559,581 |
Manufacturing | Gross carrying amount | Equity instruments measured at fair value through other comprehensive income | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 119,938 | 111,069 |
Manufacturing | Gross carrying amount | Amortized cost | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 4,513,506 | 4,873,701 |
Professional, scientific and technical activities | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 4,594,070 | 4,130,769 |
Professional, scientific and technical activities | Gross carrying amount | Designated at fair value through profit or loss | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 841 | 3,482 |
Professional, scientific and technical activities | Gross carrying amount | Debt instruments measured at fair value through other comprehensive income | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 207,340 | 196,348 |
Professional, scientific and technical activities | Gross carrying amount | Amortized cost | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 4,385,889 | 3,930,939 |
Commerce | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 4,016,598 | 4,590,005 |
Commerce | Gross carrying amount | Designated at fair value through profit or loss | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 1,144 | 6,471 |
Commerce | Gross carrying amount | Debt instruments measured at fair value through other comprehensive income | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 224,148 | 170,540 |
Commerce | Gross carrying amount | Amortized cost | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 3,791,306 | 4,412,994 |
Construction and infrastructure | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 3,159,911 | 3,144,963 |
Construction and infrastructure | Gross carrying amount | Designated at fair value through profit or loss | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 2,915 | 5,915 |
Construction and infrastructure | Gross carrying amount | Debt instruments measured at fair value through other comprehensive income | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 2,566,009 | 2,544,815 |
Construction and infrastructure | Gross carrying amount | Equity instruments measured at fair value through other comprehensive income | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 31,917 | 36,759 |
Construction and infrastructure | Gross carrying amount | Amortized cost | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 559,070 | 557,474 |
Electricity, gas, water and oil | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 2,731,417 | 2,377,594 |
Electricity, gas, water and oil | Gross carrying amount | Designated at fair value through profit or loss | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 14,561 | 33,518 |
Electricity, gas, water and oil | Gross carrying amount | Debt instruments measured at fair value through other comprehensive income | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 1,698,582 | 1,324,234 |
Electricity, gas, water and oil | Gross carrying amount | Equity instruments measured at fair value through other comprehensive income | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 81,438 | 95,572 |
Electricity, gas, water and oil | Gross carrying amount | Amortized cost | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 936,836 | 924,270 |
Mining | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 2,460,029 | 2,131,508 |
Mining | Gross carrying amount | Designated at fair value through profit or loss | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 1,079 | 3,917 |
Mining | Gross carrying amount | Debt instruments measured at fair value through other comprehensive income | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 1,125,295 | 899,083 |
Mining | Gross carrying amount | Amortized cost | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 1,333,655 | 1,228,508 |
Communications, storage and transportation | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 1,950,495 | 1,895,965 |
Communications, storage and transportation | Gross carrying amount | Designated at fair value through profit or loss | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 126,455 | 140,499 |
Communications, storage and transportation | Gross carrying amount | Debt instruments measured at fair value through other comprehensive income | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 496,130 | 294,171 |
Communications, storage and transportation | Gross carrying amount | Equity instruments measured at fair value through other comprehensive income | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 78,384 | 86,224 |
Communications, storage and transportation | Gross carrying amount | Amortized cost | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 1,249,526 | 1,375,071 |
Commercial and micro-business loans | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 804,212 | 1,065,159 |
Commercial and micro-business loans | Gross carrying amount | Amortized cost | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 804,212 | 1,065,159 |
Agriculture | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 1,924,564 | 1,923,473 |
Agriculture | Gross carrying amount | Designated at fair value through profit or loss | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 989 | 3,085 |
Agriculture | Gross carrying amount | Debt instruments measured at fair value through other comprehensive income | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 26,339 | 24,768 |
Agriculture | Gross carrying amount | Equity instruments measured at fair value through other comprehensive income | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 2,806 | 3,054 |
Agriculture | Gross carrying amount | Amortized cost | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 1,894,430 | 1,892,566 |
Leaseholds and real estate activities | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 796,857 | 795,911 |
Leaseholds and real estate activities | Gross carrying amount | Designated at fair value through profit or loss | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 15,751 | 27,243 |
Leaseholds and real estate activities | Gross carrying amount | Debt instruments measured at fair value through other comprehensive income | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 184,898 | 156,539 |
Leaseholds and real estate activities | Gross carrying amount | Equity instruments measured at fair value through other comprehensive income | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 5,707 | 5,246 |
Leaseholds and real estate activities | Gross carrying amount | Amortized cost | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 590,501 | 606,883 |
Fishing | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 604,453 | 452,876 |
Fishing | Gross carrying amount | Equity instruments measured at fair value through other comprehensive income | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 3,605 | 4,710 |
Fishing | Gross carrying amount | Amortized cost | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 600,848 | 448,166 |
Community services | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 599,835 | 591,290 |
Community services | Gross carrying amount | Designated at fair value through profit or loss | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 871 | 9,027 |
Community services | Gross carrying amount | Debt instruments measured at fair value through other comprehensive income | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 4,710 | |
Community services | Gross carrying amount | Amortized cost | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 594,254 | 582,263 |
Medicine and biotechnology | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 482,071 | 190,302 |
Medicine and biotechnology | Gross carrying amount | Debt instruments measured at fair value through other comprehensive income | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 31,367 | 0 |
Medicine and biotechnology | Gross carrying amount | Amortized cost | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 450,704 | 190,302 |
Education, health and other services | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 339,835 | 389,757 |
Education, health and other services | Gross carrying amount | Designated at fair value through profit or loss | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 2 | 4,367 |
Education, health and other services | Gross carrying amount | Debt instruments measured at fair value through other comprehensive income | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 99,097 | 91,518 |
Education, health and other services | Gross carrying amount | Amortized cost | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 240,736 | 293,872 |
Public administration and defense | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 99,976 | 210,911 |
Public administration and defense | Gross carrying amount | Designated at fair value through profit or loss | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 16,075 | 23,472 |
Public administration and defense | Gross carrying amount | Debt instruments measured at fair value through other comprehensive income | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 41,187 | 106,068 |
Public administration and defense | Gross carrying amount | Amortized cost | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 42,714 | 81,371 |
Foreign governments | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 89,007 | 113,816 |
Foreign governments | Gross carrying amount | Debt instruments measured at fair value through other comprehensive income | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 89,007 | 113,816 |
Insurance | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 14,229 | 8,042 |
Insurance | Gross carrying amount | Designated at fair value through profit or loss | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 3,694 | 6,615 |
Insurance | Gross carrying amount | Debt instruments measured at fair value through other comprehensive income | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 8,501 | |
Insurance | Gross carrying amount | Amortized cost | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 2,034 | 1,427 |
Others | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 36,054 | 44,950 |
Others | Gross carrying amount | Designated at fair value through profit or loss | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 3,782 | |
Others | Gross carrying amount | Debt instruments measured at fair value through other comprehensive income | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 4,327 | |
Others | Gross carrying amount | Amortized cost | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | S/ 31,727 | S/ 41,168 |
Financial risk management - S_9
Financial risk management - Summary of Financial Instruments Exposed to Credit Risk by Geographic Area (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | S/ 85,057,432 | S/ 83,295,555 |
Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 86,360,833 | 84,423,842 |
Gross carrying amount | Designated at fair value through profit or loss | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 1,714,641 | 2,448,793 |
Gross carrying amount | Debt instruments measured at fair value through other comprehensive income | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 20,912,184 | 16,716,517 |
Gross carrying amount | Equity instruments measured at fair value through other comprehensive income | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 444,878 | 512,884 |
Gross carrying amount | Amortized cost | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 63,289,130 | 64,745,648 |
Impairment allowance for loans | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | (2,349,425) | (2,027,855) |
Accrued interest | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 1,046,024 | 899,568 |
Peru | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 78,532,295 | 75,851,381 |
Peru | Gross carrying amount | Designated at fair value through profit or loss | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 118,277 | 152,424 |
Peru | Gross carrying amount | Debt instruments measured at fair value through other comprehensive income | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 17,289,485 | 13,579,422 |
Peru | Gross carrying amount | Equity instruments measured at fair value through other comprehensive income | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 245,411 | 270,166 |
Peru | Gross carrying amount | Amortized cost | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 60,879,122 | 61,849,369 |
United States of America | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 2,760,403 | 3,660,312 |
United States of America | Gross carrying amount | Designated at fair value through profit or loss | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 1,311,432 | 1,734,175 |
United States of America | Gross carrying amount | Debt instruments measured at fair value through other comprehensive income | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 853,799 | 360,279 |
United States of America | Gross carrying amount | Equity instruments measured at fair value through other comprehensive income | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 78,384 | 86,224 |
United States of America | Gross carrying amount | Amortized cost | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 516,788 | 1,479,634 |
Mexico | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 1,087,070 | 1,073,893 |
Mexico | Gross carrying amount | Designated at fair value through profit or loss | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 15,559 | 11,410 |
Mexico | Gross carrying amount | Debt instruments measured at fair value through other comprehensive income | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 1,054,480 | 1,049,305 |
Mexico | Gross carrying amount | Amortized cost | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 17,031 | 13,178 |
Panama | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 780,060 | 539,300 |
Panama | Gross carrying amount | Debt instruments measured at fair value through other comprehensive income | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 147,198 | 206,216 |
Panama | Gross carrying amount | Equity instruments measured at fair value through other comprehensive income | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 190 | |
Panama | Gross carrying amount | Amortized cost | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 632,672 | 333,084 |
Chile | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 766,361 | 696,223 |
Chile | Gross carrying amount | Designated at fair value through profit or loss | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 1 | 1 |
Chile | Gross carrying amount | Debt instruments measured at fair value through other comprehensive income | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 710,106 | 668,122 |
Chile | Gross carrying amount | Equity instruments measured at fair value through other comprehensive income | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 10,011 | |
Chile | Gross carrying amount | Amortized cost | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 46,243 | 28,100 |
United Kingdom | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 473,308 | 681,053 |
United Kingdom | Gross carrying amount | Designated at fair value through profit or loss | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 64,727 | 192,112 |
United Kingdom | Gross carrying amount | Debt instruments measured at fair value through other comprehensive income | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 266,974 | 306,888 |
United Kingdom | Gross carrying amount | Equity instruments measured at fair value through other comprehensive income | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 109,045 | 154,476 |
United Kingdom | Gross carrying amount | Amortized cost | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 32,562 | 27,577 |
Canada | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 394,986 | 504,671 |
Canada | Gross carrying amount | Designated at fair value through profit or loss | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 12,898 | 5,560 |
Canada | Gross carrying amount | Debt instruments measured at fair value through other comprehensive income | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 12,095 | |
Canada | Gross carrying amount | Amortized cost | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 369,993 | 499,111 |
Colombia | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 390,854 | 378,165 |
Colombia | Gross carrying amount | Designated at fair value through profit or loss | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 96 | 95 |
Colombia | Gross carrying amount | Debt instruments measured at fair value through other comprehensive income | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 309,994 | 322,840 |
Colombia | Gross carrying amount | Amortized cost | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 80,764 | 55,230 |
Cayman Islands | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 227,501 | 141,149 |
Cayman Islands | Gross carrying amount | Designated at fair value through profit or loss | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 121,815 | 141,149 |
Cayman Islands | Gross carrying amount | Debt instruments measured at fair value through other comprehensive income | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 4,132 | |
Cayman Islands | Gross carrying amount | Amortized cost | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 101,554 | |
Brazil | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 191,351 | 175,235 |
Brazil | Gross carrying amount | Debt instruments measured at fair value through other comprehensive income | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 150,120 | 153,977 |
Brazil | Gross carrying amount | Amortized cost | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 41,231 | 21,258 |
Ecuador | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 190,181 | 4,990 |
Ecuador | Gross carrying amount | Amortized cost | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 190,181 | 4,990 |
Germany | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 83,094 | 200,008 |
Germany | Gross carrying amount | Designated at fair value through profit or loss | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 24,487 | 24,947 |
Germany | Gross carrying amount | Debt instruments measured at fair value through other comprehensive income | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 582 | |
Germany | Gross carrying amount | Amortized cost | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 58,025 | 175,061 |
Luxembourg | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 75,304 | 128,563 |
Luxembourg | Gross carrying amount | Designated at fair value through profit or loss | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 0 | 68,553 |
Luxembourg | Gross carrying amount | Debt instruments measured at fair value through other comprehensive income | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 14,395 | 12,510 |
Luxembourg | Gross carrying amount | Amortized cost | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 60,909 | 47,500 |
Ireland | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 2,896 | 455 |
Ireland | Gross carrying amount | Amortized cost | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 2,896 | 455 |
Belgium | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 153 | 160 |
Belgium | Gross carrying amount | Equity instruments measured at fair value through other comprehensive income | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 152 | 157 |
Belgium | Gross carrying amount | Amortized cost | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 1 | 3 |
Others | Gross carrying amount | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 405,016 | 388,284 |
Others | Gross carrying amount | Designated at fair value through profit or loss | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 45,349 | 118,367 |
Others | Gross carrying amount | Debt instruments measured at fair value through other comprehensive income | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 98,824 | 56,958 |
Others | Gross carrying amount | Equity instruments measured at fair value through other comprehensive income | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | 1,685 | 1,861 |
Others | Gross carrying amount | Amortized cost | ||
Disclosure of credit risk exposure [line items] | ||
Financial Instruments Exposed to Credit Risk | S/ 259,158 | S/ 211,098 |
Financial risk management - _10
Financial risk management - Summary of Financial Assets Subject to Offsetting (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of offsetting of financial assets [line items] | ||
Gross amounts of recognized financial assets | S/ 158,101 | S/ 515,800 |
Net amounts of financial assets presented in the consolidated statement of financial position | 158,101 | 515,800 |
Financial instruments (including non-cash guarantees) | (65,099) | (169,050) |
Cash guarantees received | (9,755) | (235,133) |
Net amount | 83,247 | 111,617 |
Financial investments, Derivatives receivable [member] | ||
Disclosure of offsetting of financial assets [line items] | ||
Gross amounts of recognized financial assets | 158,101 | 515,800 |
Net amounts of financial assets presented in the consolidated statement of financial position | 158,101 | 515,800 |
Financial instruments (including non-cash guarantees) | (65,099) | (169,050) |
Cash guarantees received | (9,755) | (235,133) |
Net amount | S/ 83,247 | S/ 111,617 |
Financial risk management - _11
Financial risk management - Summary of Financial Liabilities Subject to Offsetting (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of offsetting of financial liabilities [line items] | ||
Gross amounts of recognized financial liabilities | S/ 145,395 | S/ 297,038 |
Net amounts of financial liabilities presented in the consolidated statement of financial position | 145,395 | 297,038 |
Financial instruments (including non-cash guarantees) | (65,099) | (169,050) |
Cash guarantees pledged | (24,725) | (34,784) |
Net amount | 55,571 | 93,204 |
Financial investments, Derivatives receivable [member] | ||
Disclosure of offsetting of financial liabilities [line items] | ||
Gross amounts of recognized financial liabilities | 145,395 | 297,038 |
Net amounts of financial liabilities presented in the consolidated statement of financial position | 145,395 | 297,038 |
Financial instruments (including non-cash guarantees) | (65,099) | (169,050) |
Cash guarantees pledged | (24,725) | (34,784) |
Net amount | S/ 55,571 | S/ 93,204 |
Financial risk management - Sch
Financial risk management - Schedule of value at risk by type of asset (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Disclosure of financial assets [line items] | ||
VaR | S/ 28,604 | S/ 44,706 |
Diversification effect | (3,359) | (4,339) |
Exchange rate risk [member] | ||
Disclosure of financial assets [line items] | ||
VaR | 4,813 | 4,859 |
Interest rate risk [member] | ||
Disclosure of financial assets [line items] | ||
VaR | 1,417 | 4,827 |
Price risk [member] | ||
Disclosure of financial assets [line items] | ||
VaR | 25,733 | 39,359 |
Equity investments [member] | ||
Disclosure of financial assets [line items] | ||
VaR | 26,584 | 41,083 |
Debt investments [member] | ||
Disclosure of financial assets [line items] | ||
VaR | 709 | 5,088 |
Derivatives and/or exchange position [member] | ||
Disclosure of financial assets [line items] | ||
VaR | 1,548 | 2,925 |
Diversification effect [member] | ||
Disclosure of financial assets [line items] | ||
Diversification effect | S/ (237) | S/ (4,390) |
Financial risk management - _12
Financial risk management - Schedule Of Items Exposed To Interest Rate Risk And Repricing Gap (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 | Jan. 01, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Financial assets | |||||
Cash and due from banks | S/ 9,818,711 | S/ 13,193,411 | S/ 17,104,465 | ||
Inter-bank funds | 524,915 | 296,119 | 30,002 | ||
Investments at amortized cost | 61,651,344 | 63,294,936 | |||
Loans, net | 46,520,382 | 45,502,998 | 43,005,583 | ||
Other assets | 2,125,148 | 1,743,963 | 1,834,483 | ||
Total assets | 89,624,779 | 87,482,089 | 89,954,787 | ||
Financial liabilities | |||||
Deposits and obligations | 49,188,234 | 48,530,708 | 48,897,944 | ||
Inter-bank funds | 119,712 | 30,012 | 0 | ||
Due to banks and correspondents | 9,025,930 | 7,100,646 | 8,522,849 | ||
Bonds, notes and other obligations | 5,551,629 | 7,906,303 | 8,389,672 | ||
Other liabilities | 3,407,360 | 3,129,164 | 2,468,242 | ||
Equity | 10,008,101 | 9,426,227 | 8,734,828 | S/ 8,734,828 | S/ 8,953,949 |
Total liabilities and equity | 89,624,779 | 87,482,089 | S/ 89,954,787 | ||
Off- balance sheet accounts | |||||
Derivatives held as assets | 59,002 | 312,718 | |||
Derivatives held as liabilities | 44,611 | 13,156 | |||
Mining rights [member] | |||||
Financial assets | |||||
Cash and due from banks | 9,818,711 | 13,193,411 | |||
Inter-bank funds | 524,915 | 296,119 | |||
Investments at fair value through other comprehensive income | 21,691,447 | 17,551,826 | |||
Investments at amortized cost | 3,474,004 | 3,302,779 | |||
Loans, net | 46,520,382 | 45,502,998 | |||
Other assets | 5,939,681 | 5,498,881 | |||
Total assets | 87,969,140 | 85,346,014 | |||
Financial liabilities | |||||
Deposits and obligations | 49,188,234 | 48,530,708 | |||
Inter-bank funds | 119,712 | 30,012 | |||
Due to banks and correspondents | 9,025,930 | 7,100,646 | |||
Bonds, notes and other obligations | 5,551,629 | 7,906,303 | |||
Insurance and reinsurance contract liabilities | 12,207,536 | 11,231,321 | |||
Other liabilities | 3,422,853 | 2,972,990 | |||
Equity | 10,008,101 | 9,426,227 | |||
Total liabilities and equity | 89,523,995 | 87,198,207 | |||
Off- balance sheet accounts | |||||
Derivatives held as assets | 2,578,515 | 2,579,164 | |||
Derivatives held as liabilities | 2,578,515 | 2,579,164 | |||
Marginal gap | (1,554,855) | (1,852,193) | |||
Up to 1 month [member] | Mining rights [member] | |||||
Financial assets | |||||
Cash and due from banks | 6,438,844 | 8,824,601 | |||
Inter-bank funds | 524,915 | 296,119 | |||
Investments at fair value through other comprehensive income | 501,199 | 640,301 | |||
Investments at amortized cost | 23,583 | ||||
Loans, net | 4,247,703 | 4,596,996 | |||
Other assets | 1,034,215 | 1,054,431 | |||
Total assets | 12,770,459 | 15,412,448 | |||
Financial liabilities | |||||
Deposits and obligations | 30,185,794 | 30,713,163 | |||
Inter-bank funds | 119,712 | 30,012 | |||
Due to banks and correspondents | 1,459,377 | 606,091 | |||
Bonds, notes and other obligations | 200,594 | 2,532,625 | |||
Insurance and reinsurance contract liabilities | 52,793 | 53,926 | |||
Other liabilities | 867,346 | 468,255 | |||
Total liabilities and equity | 32,885,616 | 34,404,072 | |||
Off- balance sheet accounts | |||||
Derivatives held as assets | 185,450 | 1,681,974 | |||
Derivatives held as liabilities | 185,450 | 1,681,974 | |||
Marginal gap | (20,115,157) | (18,991,624) | |||
Cumulative gap | (20,115,157) | (18,991,624) | |||
From 1 to 3 months [member] | Mining rights [member] | |||||
Financial assets | |||||
Cash and due from banks | 77,841 | 23,810 | |||
Investments at fair value through other comprehensive income | 1,540,643 | 1,129,911 | |||
Investments at amortized cost | 86,652 | 71,640 | |||
Loans, net | 5,611,232 | 5,750,591 | |||
Other assets | 195,323 | 99,411 | |||
Total assets | 7,511,691 | 7,075,363 | |||
Financial liabilities | |||||
Deposits and obligations | 3,894,718 | 1,688,546 | |||
Due to banks and correspondents | 1,758,037 | 1,239,640 | |||
Bonds, notes and other obligations | 1,138,301 | 3,614 | |||
Insurance and reinsurance contract liabilities | 104,011 | 107,091 | |||
Other liabilities | 142,339 | 138,932 | |||
Total liabilities and equity | 7,037,406 | 3,177,823 | |||
Off- balance sheet accounts | |||||
Derivatives held as assets | 111,270 | ||||
Derivatives held as liabilities | 111,270 | ||||
Marginal gap | 474,285 | 3,897,540 | |||
Cumulative gap | (19,640,872) | (15,094,084) | |||
From 3 months to 1 year [member] | Mining rights [member] | |||||
Financial assets | |||||
Cash and due from banks | 216,012 | 303,812 | |||
Investments at fair value through other comprehensive income | 2,293,382 | 275,048 | |||
Investments at amortized cost | 634,133 | 494,872 | |||
Loans, net | 11,248,432 | 10,366,009 | |||
Other assets | 262,343 | 69,853 | |||
Total assets | 14,654,302 | 11,509,594 | |||
Financial liabilities | |||||
Deposits and obligations | 6,601,910 | 6,098,329 | |||
Due to banks and correspondents | 2,776,380 | 1,072,666 | |||
Bonds, notes and other obligations | 18,233 | 233,891 | |||
Insurance and reinsurance contract liabilities | 470,253 | 480,885 | |||
Other liabilities | 205,445 | 165,118 | |||
Total liabilities and equity | 10,072,221 | 8,050,889 | |||
Off- balance sheet accounts | |||||
Derivatives held as assets | 1,576,325 | ||||
Derivatives held as liabilities | 1,576,325 | ||||
Marginal gap | 4,582,081 | 3,458,705 | |||
Cumulative gap | (15,058,791) | (11,635,379) | |||
From 1 to 5 years [member] | Mining rights [member] | |||||
Financial assets | |||||
Cash and due from banks | 26,788 | 6,815 | |||
Investments at fair value through other comprehensive income | 4,041,060 | 4,159,999 | |||
Investments at amortized cost | 636,561 | 1,084,113 | |||
Loans, net | 19,392,632 | 18,886,533 | |||
Other assets | 219,298 | 73,355 | |||
Total assets | 24,316,339 | 24,210,815 | |||
Financial liabilities | |||||
Deposits and obligations | 498,592 | 1,022,471 | |||
Due to banks and correspondents | 1,683,940 | 3,023,988 | |||
Bonds, notes and other obligations | 3,960,246 | 4,895,031 | |||
Insurance and reinsurance contract liabilities | 2,549,908 | 2,555,889 | |||
Other liabilities | 514,669 | 418,962 | |||
Total liabilities and equity | 9,207,355 | 11,916,341 | |||
Off- balance sheet accounts | |||||
Derivatives held as assets | 705,470 | 897,190 | |||
Derivatives held as liabilities | 705,470 | 897,190 | |||
Marginal gap | 15,108,984 | 12,294,474 | |||
Cumulative gap | 50,193 | 659,095 | |||
More than 5 years [member] | Mining rights [member] | |||||
Financial assets | |||||
Cash and due from banks | 22,080 | ||||
Investments at fair value through other comprehensive income | 12,870,285 | 10,833,683 | |||
Investments at amortized cost | 2,093,075 | 1,652,154 | |||
Loans, net | 6,584,178 | 6,443,838 | |||
Other assets | 5,590 | 33,726 | |||
Total assets | 21,553,128 | 18,985,481 | |||
Financial liabilities | |||||
Deposits and obligations | 46,902 | 323,521 | |||
Due to banks and correspondents | 1,348,196 | 1,158,261 | |||
Bonds, notes and other obligations | 234,255 | 241,142 | |||
Insurance and reinsurance contract liabilities | 8,784,208 | 7,803,150 | |||
Other liabilities | 520,057 | 495,123 | |||
Total liabilities and equity | 10,933,618 | 10,021,197 | |||
Off- balance sheet accounts | |||||
Marginal gap | 10,619,510 | 8,964,284 | |||
Cumulative gap | 10,669,703 | 9,623,379 | |||
Non-interest bearing [member] | Mining rights [member] | |||||
Financial assets | |||||
Cash and due from banks | 3,059,226 | 4,012,293 | |||
Investments at fair value through other comprehensive income | 444,878 | 512,884 | |||
Loans, net | (563,795) | (540,969) | |||
Other assets | 4,222,912 | 4,168,105 | |||
Total assets | 7,163,221 | 8,152,313 | |||
Financial liabilities | |||||
Deposits and obligations | 7,960,318 | 8,684,678 | |||
Insurance and reinsurance contract liabilities | 246,363 | 230,380 | |||
Other liabilities | 1,172,997 | 1,286,600 | |||
Equity | 10,008,101 | 9,426,227 | |||
Total liabilities and equity | 19,387,779 | 19,627,885 | |||
Off- balance sheet accounts | |||||
Marginal gap | (12,224,558) | (11,475,572) | |||
Cumulative gap | S/ (1,554,855) | S/ (1,852,193) |
Financial risk management - D_2
Financial risk management - Disclosure Of Estimated Changes In Interest Rates (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Increase decrease in 25 bps in intrest rate [member] | US Dollar [member] | ||
Disclosure Of Increase Decrease In Interest Rate And Impact On Results Line Items [Line Items] | ||
Sensitivity of net income | S/ 105 | S/ 9,381 |
Sensitivity of other net comprehensive income | 103,189 | 108,457 |
Increase decrease in 50 bps in intrest rate [member] | US Dollar [member] | ||
Disclosure Of Increase Decrease In Interest Rate And Impact On Results Line Items [Line Items] | ||
Sensitivity of net income | 210 | 18,762 |
Sensitivity of other net comprehensive income | 206,551 | 217,095 |
Increase decrease in 50 bps in intrest rate [member] | Sol [member] | ||
Disclosure Of Increase Decrease In Interest Rate And Impact On Results Line Items [Line Items] | ||
Sensitivity of net income | 44,656 | 40,539 |
Sensitivity of other net comprehensive income | 444,244 | 388,047 |
Increase decrease in 75 bps in intrest rate [member] | US Dollar [member] | ||
Disclosure Of Increase Decrease In Interest Rate And Impact On Results Line Items [Line Items] | ||
Sensitivity of net income | 315 | 28,143 |
Sensitivity of other net comprehensive income | 310,258 | 326,095 |
Increase decrease in 75 bps in intrest rate [member] | Sol [member] | ||
Disclosure Of Increase Decrease In Interest Rate And Impact On Results Line Items [Line Items] | ||
Sensitivity of net income | 66,984 | 60,809 |
Sensitivity of other net comprehensive income | 677,590 | 582,844 |
Increase decrease in 100 bps in intrest rate [member] | US Dollar [member] | ||
Disclosure Of Increase Decrease In Interest Rate And Impact On Results Line Items [Line Items] | ||
Sensitivity of net income | 421 | 37,524 |
Sensitivity of other net comprehensive income | 414,485 | 435,640 |
Increase decrease in 100 bps in intrest rate [member] | Sol [member] | ||
Disclosure Of Increase Decrease In Interest Rate And Impact On Results Line Items [Line Items] | ||
Sensitivity of net income | 89,313 | 81,079 |
Sensitivity of other net comprehensive income | 904,721 | 778,196 |
Increase decrease in 150 bps in intrest rate [member] | Sol [member] | ||
Disclosure Of Increase Decrease In Interest Rate And Impact On Results Line Items [Line Items] | ||
Sensitivity of net income | 133,969 | 121,618 |
Sensitivity of other net comprehensive income | S/ 1,362,566 | S/ 1,171,915 |
Financial risk management - _13
Financial risk management - Summary of other comprehensive income before Income Tax and Non-controlling Interest (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Disclosure Of Calculation Of Sensitivity In Market Prices And The Effect On Expected Unrealized Gain Or Loss [Line Items] | ||
Credit exposure | S/ 2,367,357 | S/ 2,063,350 |
10% change in equity price [member] | Equity investments [member] | ||
Disclosure Of Calculation Of Sensitivity In Market Prices And The Effect On Expected Unrealized Gain Or Loss [Line Items] | ||
Changes in market price % | (10.00%) | (10.00%) |
Credit exposure | S/ 44,488 | S/ 51,288 |
25% change in equity price [member] | Equity investments [member] | ||
Disclosure Of Calculation Of Sensitivity In Market Prices And The Effect On Expected Unrealized Gain Or Loss [Line Items] | ||
Changes in market price % | (25.00%) | (25.00%) |
Credit exposure | S/ 111,220 | S/ 128,221 |
30% change in equity price [member] | Equity investments [member] | ||
Disclosure Of Calculation Of Sensitivity In Market Prices And The Effect On Expected Unrealized Gain Or Loss [Line Items] | ||
Changes in market price % | (30.00%) | (30.00%) |
Credit exposure | S/ 133,463 | S/ 153,865 |
Financial risk management - D_3
Financial risk management - Disclosure Of Detailed Information About Foreign Exchange Risk Position Of Group (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 | Jan. 01, 2022 |
Assets | |||
Cash and due from banks | S/ 9,818,711 | S/ 13,193,411 | S/ 17,104,465 |
Inter-bank funds | 524,915 | 296,119 | 30,002 |
Financial investments | 26,721,991 | 22,787,598 | 24,547,294 |
Loans, net | 46,520,382 | 45,502,998 | 43,005,583 |
Due from customers on acceptances | 40,565 | 45,809 | 152,423 |
Other accounts receivable and other assets, net | 1,404,581 | 1,435,567 | |
Insurance and reinsurance contract assets | 26,287 | 34,053 | |
Total assets | 85,057,432 | 83,295,555 | |
Liabilities | |||
Deposits and obligations | 49,188,234 | 48,530,708 | 48,897,944 |
Inter-bank funds | 119,712 | 30,012 | 0 |
Due to banks and correspondents | 9,025,930 | 7,100,646 | 8,522,849 |
Bonds, notes and other obligations | 5,551,629 | 7,906,303 | 8,389,672 |
Due from customers on acceptances | 40,565 | 45,809 | S/ 152,423 |
Insurance contract liabilities | 12,207,536 | 11,231,321 | |
Other accounts payable, provisions and other liabilities | 3,201,591 | 2,830,330 | |
Total liabilities | 79,335,197 | 77,675,129 | |
Forwards position, net | 5,722,235 | 5,620,426 | |
Currency swaps position, net | 5,722,235 | 5,620,426 | |
Cross currency swaps position, net | 5,722,235 | 5,620,426 | |
Options position, net | 5,722,235 | 5,620,426 | |
Monetary position, net | 5,722,235 | 5,620,426 | |
US Dollar [member] | |||
Assets | |||
Cash and due from banks | 6,745,220 | 10,205,093 | |
Inter-bank funds | 55,660 | ||
Financial investments | 7,090,138 | 6,860,558 | |
Loans, net | 14,131,543 | 13,507,125 | |
Due from customers on acceptances | 40,565 | 45,809 | |
Other accounts receivable and other assets, net | 242,935 | 303,720 | |
Insurance and reinsurance contract assets | 166 | 1,032 | |
Total assets | 28,306,227 | 30,923,337 | |
Liabilities | |||
Deposits and obligations | 18,277,393 | 19,187,300 | |
Inter-bank funds | 63,081 | ||
Due to banks and correspondents | 2,342,325 | 645,706 | |
Bonds, notes and other obligations | 5,049,942 | 7,257,098 | |
Due from customers on acceptances | 40,565 | 45,809 | |
Insurance contract liabilities | 3,997,075 | 4,240,359 | |
Other accounts payable, provisions and other liabilities | 1,272,832 | 1,229,952 | |
Total liabilities | 31,043,213 | 32,606,224 | |
Forwards position, net | 13,533 | 62,898 | |
Currency swaps position, net | 13,533 | 62,898 | |
Cross currency swaps position, net | 13,533 | 62,898 | |
Options position, net | 13,533 | 62,898 | |
Monetary position, net | 13,533 | 62,898 | |
Soles [member] | |||
Assets | |||
Cash and due from banks | 2,710,275 | 2,404,942 | |
Inter-bank funds | 469,255 | 296,119 | |
Financial investments | 19,569,726 | 15,884,533 | |
Loans, net | 32,388,839 | 31,995,873 | |
Other accounts receivable and other assets, net | 1,161,624 | 1,131,459 | |
Insurance and reinsurance contract assets | 26,121 | 33,021 | |
Total assets | 56,325,840 | 51,745,947 | |
Liabilities | |||
Deposits and obligations | 30,420,832 | 28,843,457 | |
Inter-bank funds | 56,631 | 30,012 | |
Due to banks and correspondents | 6,683,605 | 6,454,940 | |
Bonds, notes and other obligations | 501,687 | 649,205 | |
Insurance contract liabilities | 8,210,461 | 6,990,962 | |
Other accounts payable, provisions and other liabilities | 1,928,716 | 1,599,519 | |
Total liabilities | 47,801,932 | 44,568,095 | |
Forwards position, net | 5,647,601 | 5,513,634 | |
Currency swaps position, net | 5,647,601 | 5,513,634 | |
Cross currency swaps position, net | 5,647,601 | 5,513,634 | |
Options position, net | 5,647,601 | 5,513,634 | |
Monetary position, net | 5,647,601 | 5,513,634 | |
Other currencies [member] | |||
Assets | |||
Cash and due from banks | 363,216 | 583,376 | |
Financial investments | 62,127 | 42,507 | |
Other accounts receivable and other assets, net | 22 | 388 | |
Total assets | 425,365 | 626,271 | |
Liabilities | |||
Deposits and obligations | 490,009 | 499,951 | |
Other accounts payable, provisions and other liabilities | 43 | 859 | |
Total liabilities | 490,052 | 500,810 | |
Forwards position, net | 61,101 | 43,894 | |
Currency swaps position, net | 61,101 | 43,894 | |
Cross currency swaps position, net | 61,101 | 43,894 | |
Options position, net | 61,101 | 43,894 | |
Monetary position, net | 61,101 | 43,894 | |
Forward contract [member] | US Dollar [member] | |||
Liabilities | |||
Forwards position, net | (631,449) | (1,993,217) | |
Currency swaps position, net | (631,449) | (1,993,217) | |
Cross currency swaps position, net | (631,449) | (1,993,217) | |
Options position, net | (631,449) | (1,993,217) | |
Monetary position, net | (631,449) | (1,993,217) | |
Forward contract [member] | Soles [member] | |||
Liabilities | |||
Forwards position, net | 505,661 | 2,074,784 | |
Currency swaps position, net | 505,661 | 2,074,784 | |
Cross currency swaps position, net | 505,661 | 2,074,784 | |
Options position, net | 505,661 | 2,074,784 | |
Monetary position, net | 505,661 | 2,074,784 | |
Forward contract [member] | Other currencies [member] | |||
Liabilities | |||
Forwards position, net | 125,788 | (81,567) | |
Currency swaps position, net | 125,788 | (81,567) | |
Cross currency swaps position, net | 125,788 | (81,567) | |
Options position, net | 125,788 | (81,567) | |
Monetary position, net | 125,788 | (81,567) | |
Currency swap contract [member] | US Dollar [member] | |||
Liabilities | |||
Forwards position, net | 951,864 | 1,384,495 | |
Currency swaps position, net | 951,864 | 1,384,495 | |
Cross currency swaps position, net | 951,864 | 1,384,495 | |
Options position, net | 951,864 | 1,384,495 | |
Monetary position, net | 951,864 | 1,384,495 | |
Currency swap contract [member] | Soles [member] | |||
Liabilities | |||
Forwards position, net | (951,864) | (1,384,495) | |
Currency swaps position, net | (951,864) | (1,384,495) | |
Cross currency swaps position, net | (951,864) | (1,384,495) | |
Options position, net | (951,864) | (1,384,495) | |
Monetary position, net | (951,864) | (1,384,495) | |
Cross currency swaps position, net [member] | US Dollar [member] | |||
Liabilities | |||
Forwards position, net | 2,430,155 | 2,354,679 | |
Currency swaps position, net | 2,430,155 | 2,354,679 | |
Cross currency swaps position, net | 2,430,155 | 2,354,679 | |
Options position, net | 2,430,155 | 2,354,679 | |
Monetary position, net | 2,430,155 | 2,354,679 | |
Cross currency swaps position, net [member] | Soles [member] | |||
Liabilities | |||
Forwards position, net | (2,430,155) | (2,354,679) | |
Currency swaps position, net | (2,430,155) | (2,354,679) | |
Cross currency swaps position, net | (2,430,155) | (2,354,679) | |
Options position, net | (2,430,155) | (2,354,679) | |
Monetary position, net | (2,430,155) | (2,354,679) | |
Options position, net [member] | US Dollar [member] | |||
Liabilities | |||
Forwards position, net | (51) | (172) | |
Currency swaps position, net | (51) | (172) | |
Cross currency swaps position, net | (51) | (172) | |
Options position, net | (51) | (172) | |
Monetary position, net | (51) | (172) | |
Options position, net [member] | Soles [member] | |||
Liabilities | |||
Forwards position, net | 51 | 172 | |
Currency swaps position, net | 51 | 172 | |
Cross currency swaps position, net | 51 | 172 | |
Options position, net | 51 | 172 | |
Monetary position, net | S/ 51 | S/ 172 |
Financial risk management - _14
Financial risk management - Summary Of Percentage Of Change In Currency Exchange Rate (Detail) - US Dollar [member] - PEN (S/) S/ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
5% currency devaluation [member] | ||
Disclosure Of Detailed Information About Analysis Of Variations In US Dollar [Line Items] | ||
Changes in currency rates % | 5% | |
Sensitivity analysis of (Devaluation) Revaluation | S/ 8,796 | S/ 8,991 |
10% currency devaluation [member] | ||
Disclosure Of Detailed Information About Analysis Of Variations In US Dollar [Line Items] | ||
Changes in currency rates % | 10% | |
Sensitivity analysis of (Devaluation) Revaluation | S/ 17,592 | 17,982 |
15% currency devaluation [member] | ||
Disclosure Of Detailed Information About Analysis Of Variations In US Dollar [Line Items] | ||
Changes in currency rates % | 15% | |
Sensitivity analysis of (Devaluation) Revaluation | S/ 26,388 | 26,973 |
5% currency revaluation [member] | ||
Disclosure Of Detailed Information About Analysis Of Variations In US Dollar [Line Items] | ||
Changes in currency rates % | 5% | |
Sensitivity analysis of (Devaluation) Revaluation | S/ (8,796) | (8,991) |
10% currency revaluation [member] | ||
Disclosure Of Detailed Information About Analysis Of Variations In US Dollar [Line Items] | ||
Changes in currency rates % | 10% | |
Sensitivity analysis of (Devaluation) Revaluation | S/ (17,592) | (17,982) |
15% currency revaluation [member] | ||
Disclosure Of Detailed Information About Analysis Of Variations In US Dollar [Line Items] | ||
Changes in currency rates % | 15% | |
Sensitivity analysis of (Devaluation) Revaluation | S/ (26,388) | S/ (26,973) |
Financial risk management - _15
Financial risk management - Summary Of Undiscounted Cash Flow (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 | |
Disclosure Of Maturity Analysis Of Undiscounted Cash Flows Payables [Line Items] | |||
Non-derivative financial liabilities | S/ 93,683,898 | S/ 92,262,901 | |
Derivative financial assets held for trading | [1] | 99,099 | 203,082 |
Derivative financial liabilities held for trading | [1] | 100,784 | 283,882 |
Derivative financial assets held for hedging | 59,002 | 312,718 | |
Derivative financial liabilities held for hedging | (44,611) | (13,156) | |
Deposits and obligations [member] | |||
Disclosure Of Maturity Analysis Of Undiscounted Cash Flows Payables [Line Items] | |||
Non-derivative financial liabilities | 49,754,272 | 49,075,344 | |
Inter-bank funds [member] | |||
Disclosure Of Maturity Analysis Of Undiscounted Cash Flows Payables [Line Items] | |||
Non-derivative financial liabilities | 119,712 | 30,012 | |
Due to banks and correspondents [member] | |||
Disclosure Of Maturity Analysis Of Undiscounted Cash Flows Payables [Line Items] | |||
Non-derivative financial liabilities | 10,514,117 | 8,094,378 | |
Bonds, notes and other obligations [member] | |||
Disclosure Of Maturity Analysis Of Undiscounted Cash Flows Payables [Line Items] | |||
Non-derivative financial liabilities | 6,019,809 | 8,602,964 | |
Due from customers on acceptances [member] | |||
Disclosure Of Maturity Analysis Of Undiscounted Cash Flows Payables [Line Items] | |||
Non-derivative financial liabilities | 40,565 | 45,809 | |
Insurance and reinsurance contract liabilities [member] | |||
Disclosure Of Maturity Analysis Of Undiscounted Cash Flows Payables [Line Items] | |||
Non-derivative financial liabilities | 24,179,227 | 23,881,102 | |
Other accounts payable, provisions and other liabilities [member] | |||
Disclosure Of Maturity Analysis Of Undiscounted Cash Flows Payables [Line Items] | |||
Non-derivative financial liabilities | 3,056,196 | 2,533,292 | |
Assets held for trading liabilities arising from financing activities [member] | |||
Disclosure Of Maturity Analysis Of Undiscounted Cash Flows Payables [Line Items] | |||
Derivative financial assets held for trading | 3,638,646 | 4,540,352 | |
Derivative financial liabilities held for trading | 3,639,431 | 4,620,312 | |
Total | (785) | (79,960) | |
Assets held to hedge liabilities arising from financing activities [member] | |||
Disclosure Of Maturity Analysis Of Undiscounted Cash Flows Payables [Line Items] | |||
Derivative financial assets held for hedging | 2,081,977 | 2,162,029 | |
Derivative financial liabilities held for hedging | 2,161,646 | 1,919,675 | |
Total | (79,669) | 242,354 | |
Up to 1 month [member] | |||
Disclosure Of Maturity Analysis Of Undiscounted Cash Flows Payables [Line Items] | |||
Non-derivative financial liabilities | 39,180,396 | 40,833,243 | |
Up to 1 month [member] | Deposits and obligations [member] | |||
Disclosure Of Maturity Analysis Of Undiscounted Cash Flows Payables [Line Items] | |||
Non-derivative financial liabilities | 36,150,590 | 36,674,487 | |
Up to 1 month [member] | Inter-bank funds [member] | |||
Disclosure Of Maturity Analysis Of Undiscounted Cash Flows Payables [Line Items] | |||
Non-derivative financial liabilities | 119,712 | 30,012 | |
Up to 1 month [member] | Due to banks and correspondents [member] | |||
Disclosure Of Maturity Analysis Of Undiscounted Cash Flows Payables [Line Items] | |||
Non-derivative financial liabilities | 1,310,020 | 693,550 | |
Up to 1 month [member] | Bonds, notes and other obligations [member] | |||
Disclosure Of Maturity Analysis Of Undiscounted Cash Flows Payables [Line Items] | |||
Non-derivative financial liabilities | 24,108 | 2,059,807 | |
Up to 1 month [member] | Due from customers on acceptances [member] | |||
Disclosure Of Maturity Analysis Of Undiscounted Cash Flows Payables [Line Items] | |||
Non-derivative financial liabilities | 7,080 | 18,909 | |
Up to 1 month [member] | Other accounts payable, provisions and other liabilities [member] | |||
Disclosure Of Maturity Analysis Of Undiscounted Cash Flows Payables [Line Items] | |||
Non-derivative financial liabilities | 1,568,886 | 1,356,478 | |
Up to 1 month [member] | Assets held for trading liabilities arising from financing activities [member] | |||
Disclosure Of Maturity Analysis Of Undiscounted Cash Flows Payables [Line Items] | |||
Derivative financial assets held for trading | 387,872 | 583,440 | |
Derivative financial liabilities held for trading | 387,923 | 604,526 | |
Total | (51) | (21,086) | |
Up to 1 month [member] | Assets held to hedge liabilities arising from financing activities [member] | |||
Disclosure Of Maturity Analysis Of Undiscounted Cash Flows Payables [Line Items] | |||
Derivative financial assets held for hedging | 3,763 | 1,712,865 | |
Derivative financial liabilities held for hedging | 6,215 | 1,479,047 | |
Total | (2,452) | 233,818 | |
From 1 to 3 months [member] | |||
Disclosure Of Maturity Analysis Of Undiscounted Cash Flows Payables [Line Items] | |||
Non-derivative financial liabilities | 6,882,118 | 2,838,329 | |
From 1 to 3 months [member] | Deposits and obligations [member] | |||
Disclosure Of Maturity Analysis Of Undiscounted Cash Flows Payables [Line Items] | |||
Non-derivative financial liabilities | 4,042,302 | 1,842,392 | |
From 1 to 3 months [member] | Due to banks and correspondents [member] | |||
Disclosure Of Maturity Analysis Of Undiscounted Cash Flows Payables [Line Items] | |||
Non-derivative financial liabilities | 1,522,550 | 785,085 | |
From 1 to 3 months [member] | Bonds, notes and other obligations [member] | |||
Disclosure Of Maturity Analysis Of Undiscounted Cash Flows Payables [Line Items] | |||
Non-derivative financial liabilities | 1,153,716 | 1,155 | |
From 1 to 3 months [member] | Due from customers on acceptances [member] | |||
Disclosure Of Maturity Analysis Of Undiscounted Cash Flows Payables [Line Items] | |||
Non-derivative financial liabilities | 19,300 | 4,854 | |
From 1 to 3 months [member] | Other accounts payable, provisions and other liabilities [member] | |||
Disclosure Of Maturity Analysis Of Undiscounted Cash Flows Payables [Line Items] | |||
Non-derivative financial liabilities | 144,250 | 204,843 | |
From 1 to 3 months [member] | Assets held for trading liabilities arising from financing activities [member] | |||
Disclosure Of Maturity Analysis Of Undiscounted Cash Flows Payables [Line Items] | |||
Derivative financial assets held for trading | 479,652 | 711,292 | |
Derivative financial liabilities held for trading | 479,288 | 568,112 | |
Total | 364 | 143,180 | |
From 1 to 3 months [member] | Assets held to hedge liabilities arising from financing activities [member] | |||
Disclosure Of Maturity Analysis Of Undiscounted Cash Flows Payables [Line Items] | |||
Derivative financial assets held for hedging | 4,061 | 3,289 | |
Derivative financial liabilities held for hedging | 5,065 | 5,038 | |
Total | (1,004) | (1,749) | |
From 3 to 12 months [member] | |||
Disclosure Of Maturity Analysis Of Undiscounted Cash Flows Payables [Line Items] | |||
Non-derivative financial liabilities | 10,452,259 | 9,972,511 | |
From 3 to 12 months [member] | Deposits and obligations [member] | |||
Disclosure Of Maturity Analysis Of Undiscounted Cash Flows Payables [Line Items] | |||
Non-derivative financial liabilities | 6,874,724 | 6,642,702 | |
From 3 to 12 months [member] | Due to banks and correspondents [member] | |||
Disclosure Of Maturity Analysis Of Undiscounted Cash Flows Payables [Line Items] | |||
Non-derivative financial liabilities | 2,452,158 | 2,040,127 | |
From 3 to 12 months [member] | Bonds, notes and other obligations [member] | |||
Disclosure Of Maturity Analysis Of Undiscounted Cash Flows Payables [Line Items] | |||
Non-derivative financial liabilities | 133,232 | 380,495 | |
From 3 to 12 months [member] | Due from customers on acceptances [member] | |||
Disclosure Of Maturity Analysis Of Undiscounted Cash Flows Payables [Line Items] | |||
Non-derivative financial liabilities | 14,185 | 22,046 | |
From 3 to 12 months [member] | Insurance and reinsurance contract liabilities [member] | |||
Disclosure Of Maturity Analysis Of Undiscounted Cash Flows Payables [Line Items] | |||
Non-derivative financial liabilities | 821,389 | 840,606 | |
From 3 to 12 months [member] | Other accounts payable, provisions and other liabilities [member] | |||
Disclosure Of Maturity Analysis Of Undiscounted Cash Flows Payables [Line Items] | |||
Non-derivative financial liabilities | 156,571 | 46,535 | |
From 3 to 12 months [member] | Assets held for trading liabilities arising from financing activities [member] | |||
Disclosure Of Maturity Analysis Of Undiscounted Cash Flows Payables [Line Items] | |||
Derivative financial assets held for trading | 1,261,268 | 2,059,478 | |
Derivative financial liabilities held for trading | 1,274,079 | 2,051,065 | |
Total | (12,811) | 8,413 | |
From 3 to 12 months [member] | Assets held to hedge liabilities arising from financing activities [member] | |||
Disclosure Of Maturity Analysis Of Undiscounted Cash Flows Payables [Line Items] | |||
Derivative financial assets held for hedging | 323,273 | 13,772 | |
Derivative financial liabilities held for hedging | 390,706 | 28,784 | |
Total | (67,433) | (15,012) | |
From 1 to 5 years [member] | |||
Disclosure Of Maturity Analysis Of Undiscounted Cash Flows Payables [Line Items] | |||
Non-derivative financial liabilities | 11,845,155 | 13,212,800 | |
From 1 to 5 years [member] | Deposits and obligations [member] | |||
Disclosure Of Maturity Analysis Of Undiscounted Cash Flows Payables [Line Items] | |||
Non-derivative financial liabilities | 1,212,870 | 1,523,454 | |
From 1 to 5 years [member] | Due to banks and correspondents [member] | |||
Disclosure Of Maturity Analysis Of Undiscounted Cash Flows Payables [Line Items] | |||
Non-derivative financial liabilities | 3,310,756 | 2,983,773 | |
From 1 to 5 years [member] | Bonds, notes and other obligations [member] | |||
Disclosure Of Maturity Analysis Of Undiscounted Cash Flows Payables [Line Items] | |||
Non-derivative financial liabilities | 4,280,041 | 5,726,366 | |
From 1 to 5 years [member] | Insurance and reinsurance contract liabilities [member] | |||
Disclosure Of Maturity Analysis Of Undiscounted Cash Flows Payables [Line Items] | |||
Non-derivative financial liabilities | 2,908,106 | 2,977,231 | |
From 1 to 5 years [member] | Other accounts payable, provisions and other liabilities [member] | |||
Disclosure Of Maturity Analysis Of Undiscounted Cash Flows Payables [Line Items] | |||
Non-derivative financial liabilities | 133,382 | 1,976 | |
From 1 to 5 years [member] | Assets held for trading liabilities arising from financing activities [member] | |||
Disclosure Of Maturity Analysis Of Undiscounted Cash Flows Payables [Line Items] | |||
Derivative financial assets held for trading | 993,514 | 841,875 | |
Derivative financial liabilities held for trading | 983,356 | 1,041,851 | |
Total | 10,158 | (199,976) | |
From 1 to 5 years [member] | Assets held to hedge liabilities arising from financing activities [member] | |||
Disclosure Of Maturity Analysis Of Undiscounted Cash Flows Payables [Line Items] | |||
Derivative financial assets held for hedging | 1,750,880 | 432,103 | |
Derivative financial liabilities held for hedging | 1,759,660 | 406,806 | |
Total | (8,780) | 25,297 | |
Over 5 years [member] | |||
Disclosure Of Maturity Analysis Of Undiscounted Cash Flows Payables [Line Items] | |||
Non-derivative financial liabilities | 25,323,970 | 25,406,018 | |
Over 5 years [member] | Deposits and obligations [member] | |||
Disclosure Of Maturity Analysis Of Undiscounted Cash Flows Payables [Line Items] | |||
Non-derivative financial liabilities | 1,473,786 | 2,392,309 | |
Over 5 years [member] | Due to banks and correspondents [member] | |||
Disclosure Of Maturity Analysis Of Undiscounted Cash Flows Payables [Line Items] | |||
Non-derivative financial liabilities | 1,918,633 | 1,591,843 | |
Over 5 years [member] | Bonds, notes and other obligations [member] | |||
Disclosure Of Maturity Analysis Of Undiscounted Cash Flows Payables [Line Items] | |||
Non-derivative financial liabilities | 428,712 | 435,141 | |
Over 5 years [member] | Insurance and reinsurance contract liabilities [member] | |||
Disclosure Of Maturity Analysis Of Undiscounted Cash Flows Payables [Line Items] | |||
Non-derivative financial liabilities | 20,449,732 | 20,063,265 | |
Over 5 years [member] | Other accounts payable, provisions and other liabilities [member] | |||
Disclosure Of Maturity Analysis Of Undiscounted Cash Flows Payables [Line Items] | |||
Non-derivative financial liabilities | 1,053,107 | 923,460 | |
Over 5 years [member] | Assets held for trading liabilities arising from financing activities [member] | |||
Disclosure Of Maturity Analysis Of Undiscounted Cash Flows Payables [Line Items] | |||
Derivative financial assets held for trading | 516,340 | 344,267 | |
Derivative financial liabilities held for trading | 514,785 | 354,758 | |
Total | S/ 1,555 | S/ (10,491) | |
[1]During the years 2023, 2022 and 2021, the Group recognized gains for S/68,315,000 and losses for S/4,523,000 and S/60,275,000, respectively, as a result of the valuation of derivative financial instruments held for trading, which were recorded in the caption “Net (loss) gain from financial assets at fair value through profit or loss” in the consolidated statement of income. |
Financial risk management - _16
Financial risk management - Summary Of Contingent Credits(Indirect Loans) (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure Of Maturity Analysis Of Contingent Credits [Line Items] | ||
Indirect loans | S/ 4,743,480 | S/ 4,487,347 |
Up to 1 month [member] | ||
Disclosure Of Maturity Analysis Of Contingent Credits [Line Items] | ||
Indirect loans | 1,095,339 | 686,403 |
From 1 to 3 months [member] | ||
Disclosure Of Maturity Analysis Of Contingent Credits [Line Items] | ||
Indirect loans | 1,062,605 | 1,358,990 |
From 3 to 12 months [member] | ||
Disclosure Of Maturity Analysis Of Contingent Credits [Line Items] | ||
Indirect loans | 2,391,145 | 2,054,523 |
From 1 to 5 years [member] | ||
Disclosure Of Maturity Analysis Of Contingent Credits [Line Items] | ||
Indirect loans | 193,835 | S/ 387,431 |
Over 5 years [member] | ||
Disclosure Of Maturity Analysis Of Contingent Credits [Line Items] | ||
Indirect loans | S/ 556 |
Financial risk management - _17
Financial risk management - Summary of changes in liabilities arising from financing activities (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||
Balance as of January 1 | S/ 8,050,357 | S/ 8,625,837 |
Dividends payable | 516,164 | 756,041 |
Cash flow | (2,672,177) | (925,444) |
Effect of movement in exchange rate | (132,895) | (389,268) |
Others | 1,316 | (16,809) |
Balance as of December 31 | 5,762,765 | 8,050,357 |
Inter-bank funds [member] | ||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||
Balance as of January 1 | 30,012 | 0 |
Cash flow | 91,245 | 30,482 |
Effect of movement in exchange rate | (1,592) | (470) |
Others | 47 | |
Balance as of December 31 | 119,712 | 30,012 |
Bonds, notes and other obligations [member] | ||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||
Balance as of January 1 | 7,906,303 | 8,389,672 |
Cash flow | (2,189,040) | (137,900) |
Effect of movement in exchange rate | (131,024) | (385,850) |
Others | (34,610) | 40,381 |
Balance as of December 31 | 5,551,629 | 7,906,303 |
Lease liability related to right-of-use assets [member] | ||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||
Balance as of January 1 | 112,581 | 234,946 |
Cash flow | (57,818) | (62,320) |
Effect of movement in exchange rate | (279) | (2,948) |
Others | 36,029 | (57,097) |
Balance as of December 31 | 90,513 | 112,581 |
Dividends payable [member] | ||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||
Balance as of January 1 | 1,461 | 1,219 |
Dividends payable | 516,164 | 756,041 |
Cash flow | (516,564) | (755,706) |
Others | (150) | (93) |
Balance as of December 31 | S/ 911 | S/ 1,461 |
Financial risk management - _18
Financial risk management - Summary of sensitivity of life insurance contracts and reinsurance contracts (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Insurance risk [member] | Mortality/morbidity rate [member] | ||
Disclosure of sensitivity analysis to changes in risk variables that arise from contracts within scope of IFRS 17 [line items] | ||
Change in assumptions, Increase | 10% | |
Impact on income/CSM before taxes, gross of reinsurance, Increase | S/ (13,198) | S/ (14,085) |
Impact on income/CSM before taxes, net of reinsurance, Increase | (12,808) | (13,955) |
Impact on net equity, gross of reinsurance, Increase | (5,827) | (4,767) |
Impact on net equity of reinsurance, Increase | S/ (5,264) | (4,952) |
Change in assumptions, Decrease | (10.00%) | |
Impact on income/CSM before taxes, gross of reinsurance, Decrease | S/ 13,048 | 14,494 |
Impact on income/CSM before taxes, net of reinsurance, Decrease | 12,642 | 14,021 |
Impact on net equity, gross of reinsurance, Decrease | 6,062 | 4,995 |
Impact on net equity of reinsurance, Decrease | S/ 5,488 | 4,851 |
Insurance risk [member] | Longevity [member] | ||
Disclosure of sensitivity analysis to changes in risk variables that arise from contracts within scope of IFRS 17 [line items] | ||
Change in assumptions, Increase | 10% | |
Impact on income/CSM before taxes, gross of reinsurance, Increase | S/ (210,185) | (197,945) |
Impact on income/CSM before taxes, net of reinsurance, Increase | (210,185) | (197,945) |
Impact on net equity, gross of reinsurance, Increase | (172,323) | (130,110) |
Impact on net equity of reinsurance, Increase | S/ (172,323) | (130,110) |
Change in assumptions, Decrease | (10.00%) | |
Impact on income/CSM before taxes, gross of reinsurance, Decrease | S/ 147,670 | 146,826 |
Impact on income/CSM before taxes, net of reinsurance, Decrease | 147,670 | 146,826 |
Impact on net equity, gross of reinsurance, Decrease | 114,215 | 86,496 |
Impact on net equity of reinsurance, Decrease | S/ 114,215 | 86,496 |
Insurance risk [member] | Expenses [member] | ||
Disclosure of sensitivity analysis to changes in risk variables that arise from contracts within scope of IFRS 17 [line items] | ||
Change in assumptions, Increase | 10% | |
Impact on income/CSM before taxes, gross of reinsurance, Increase | S/ (32,980) | (37,627) |
Impact on income/CSM before taxes, net of reinsurance, Increase | (32,985) | (37,740) |
Impact on net equity, gross of reinsurance, Increase | (28,421) | (29,039) |
Impact on net equity of reinsurance, Increase | S/ (28,426) | (29,152) |
Change in assumptions, Decrease | (10.00%) | |
Impact on income/CSM before taxes, gross of reinsurance, Decrease | S/ 32,960 | 37,611 |
Impact on income/CSM before taxes, net of reinsurance, Decrease | 33,006 | 37,658 |
Impact on net equity, gross of reinsurance, Decrease | 28,407 | 29,024 |
Impact on net equity of reinsurance, Decrease | S/ 28,453 | 29,071 |
Insurance risk [member] | Expiration and abandonment rate [member] | ||
Disclosure of sensitivity analysis to changes in risk variables that arise from contracts within scope of IFRS 17 [line items] | ||
Change in assumptions, Increase | 10% | |
Impact on income/CSM before taxes, gross of reinsurance, Increase | S/ 11,877 | 13,773 |
Impact on income/CSM before taxes, net of reinsurance, Increase | 11,699 | 14,232 |
Impact on net equity, gross of reinsurance, Increase | 8,871 | 5,411 |
Impact on net equity of reinsurance, Increase | S/ 8,629 | 5,897 |
Change in assumptions, Decrease | (10.00%) | |
Impact on income/CSM before taxes, gross of reinsurance, Decrease | S/ (12,787) | (14,856) |
Impact on income/CSM before taxes, net of reinsurance, Decrease | (12,522) | (14,182) |
Impact on net equity, gross of reinsurance, Decrease | (9,367) | (5,844) |
Impact on net equity of reinsurance, Decrease | S/ (9,023) | (5,204) |
Liquidity risk [member] | Mortality/morbidity rate [member] | ||
Disclosure of sensitivity analysis to changes in risk variables that arise from contracts within scope of IFRS 17 [line items] | ||
Change in assumptions, Increase | 10% | |
Impact on income/CSM before taxes, gross of reinsurance, Increase | S/ (24,696) | (24,079) |
Impact on income/CSM before taxes, net of reinsurance, Increase | S/ (17,314) | (18,190) |
Change in assumptions, Decrease | (10.00%) | |
Impact on income/CSM before taxes, gross of reinsurance, Decrease | S/ 25,277 | 24,135 |
Impact on income/CSM before taxes, net of reinsurance, Decrease | S/ 18,034 | 18,787 |
Liquidity risk [member] | Longevity [member] | ||
Disclosure of sensitivity analysis to changes in risk variables that arise from contracts within scope of IFRS 17 [line items] | ||
Change in assumptions, Increase | 10% | |
Impact on income/CSM before taxes, gross of reinsurance, Increase | S/ (37,318) | (47,424) |
Impact on income/CSM before taxes, net of reinsurance, Increase | S/ (37,318) | (47,424) |
Change in assumptions, Decrease | (10.00%) | |
Impact on income/CSM before taxes, gross of reinsurance, Decrease | S/ 77,609 | 76,554 |
Impact on income/CSM before taxes, net of reinsurance, Decrease | S/ 77,609 | 76,554 |
Liquidity risk [member] | Expenses [member] | ||
Disclosure of sensitivity analysis to changes in risk variables that arise from contracts within scope of IFRS 17 [line items] | ||
Change in assumptions, Increase | 10% | |
Impact on income/CSM before taxes, gross of reinsurance, Increase | S/ (20,613) | (17,552) |
Impact on income/CSM before taxes, net of reinsurance, Increase | S/ (20,608) | (17,439) |
Change in assumptions, Decrease | (10.00%) | |
Impact on income/CSM before taxes, gross of reinsurance, Decrease | S/ 20,591 | 17,551 |
Impact on income/CSM before taxes, net of reinsurance, Decrease | S/ 20,544 | 17,504 |
Liquidity risk [member] | Expiration and abandonment rate [member] | ||
Disclosure of sensitivity analysis to changes in risk variables that arise from contracts within scope of IFRS 17 [line items] | ||
Change in assumptions, Increase | 10% | |
Impact on income/CSM before taxes, gross of reinsurance, Increase | S/ (1,562) | (1,726) |
Impact on income/CSM before taxes, net of reinsurance, Increase | S/ (1,972) | (2,495) |
Change in assumptions, Decrease | (10.00%) | |
Impact on income/CSM before taxes, gross of reinsurance, Decrease | S/ 1,944 | 1,837 |
Impact on income/CSM before taxes, net of reinsurance, Decrease | S/ 2,375 | S/ 1,524 |
Financial risk management - _19
Financial risk management - Summary of estimations of the present value of the future cash flows that are expected to be paid (Detail) - Liquidity risk [member] - PEN (S/) S/ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of maturity analysis for liquidity risk that arises from contracts within scope of IFRS 17 [line items] | ||
Estimations of the present value of the future cash flows that are expected to be paid | S/ 25,455,177 | S/ 25,001,318 |
Life insurance contractual liabilities [member] | ||
Disclosure of maturity analysis for liquidity risk that arises from contracts within scope of IFRS 17 [line items] | ||
Estimations of the present value of the future cash flows that are expected to be paid | 24,108,710 | 23,796,937 |
Life reinsurance contractual liabilities [member] | ||
Disclosure of maturity analysis for liquidity risk that arises from contracts within scope of IFRS 17 [line items] | ||
Estimations of the present value of the future cash flows that are expected to be paid | (68,278) | (54,631) |
Other liabilities [member] | ||
Disclosure of maturity analysis for liquidity risk that arises from contracts within scope of IFRS 17 [line items] | ||
Estimations of the present value of the future cash flows that are expected to be paid | 1,414,745 | 1,259,012 |
Less than 1 year [member] | ||
Disclosure of maturity analysis for liquidity risk that arises from contracts within scope of IFRS 17 [line items] | ||
Estimations of the present value of the future cash flows that are expected to be paid | 899,642 | 897,692 |
Less than 1 year [member] | Life insurance contractual liabilities [member] | ||
Disclosure of maturity analysis for liquidity risk that arises from contracts within scope of IFRS 17 [line items] | ||
Estimations of the present value of the future cash flows that are expected to be paid | 849,238 | 874,518 |
Less than 1 year [member] | Life reinsurance contractual liabilities [member] | ||
Disclosure of maturity analysis for liquidity risk that arises from contracts within scope of IFRS 17 [line items] | ||
Estimations of the present value of the future cash flows that are expected to be paid | (27,849) | (33,911) |
Less than 1 year [member] | Other liabilities [member] | ||
Disclosure of maturity analysis for liquidity risk that arises from contracts within scope of IFRS 17 [line items] | ||
Estimations of the present value of the future cash flows that are expected to be paid | 78,253 | 57,085 |
From 1 to 2 years [member] | ||
Disclosure of maturity analysis for liquidity risk that arises from contracts within scope of IFRS 17 [line items] | ||
Estimations of the present value of the future cash flows that are expected to be paid | 743,937 | 758,032 |
From 1 to 2 years [member] | Life insurance contractual liabilities [member] | ||
Disclosure of maturity analysis for liquidity risk that arises from contracts within scope of IFRS 17 [line items] | ||
Estimations of the present value of the future cash flows that are expected to be paid | 660,864 | 683,879 |
From 1 to 2 years [member] | Life reinsurance contractual liabilities [member] | ||
Disclosure of maturity analysis for liquidity risk that arises from contracts within scope of IFRS 17 [line items] | ||
Estimations of the present value of the future cash flows that are expected to be paid | (577) | (336) |
From 1 to 2 years [member] | Other liabilities [member] | ||
Disclosure of maturity analysis for liquidity risk that arises from contracts within scope of IFRS 17 [line items] | ||
Estimations of the present value of the future cash flows that are expected to be paid | 83,650 | 74,489 |
From 2 to 3 years [member] | ||
Disclosure of maturity analysis for liquidity risk that arises from contracts within scope of IFRS 17 [line items] | ||
Estimations of the present value of the future cash flows that are expected to be paid | 835,009 | 808,957 |
From 2 to 3 years [member] | Life insurance contractual liabilities [member] | ||
Disclosure of maturity analysis for liquidity risk that arises from contracts within scope of IFRS 17 [line items] | ||
Estimations of the present value of the future cash flows that are expected to be paid | 717,179 | 727,831 |
From 2 to 3 years [member] | Life reinsurance contractual liabilities [member] | ||
Disclosure of maturity analysis for liquidity risk that arises from contracts within scope of IFRS 17 [line items] | ||
Estimations of the present value of the future cash flows that are expected to be paid | (589) | (347) |
From 2 to 3 years [member] | Other liabilities [member] | ||
Disclosure of maturity analysis for liquidity risk that arises from contracts within scope of IFRS 17 [line items] | ||
Estimations of the present value of the future cash flows that are expected to be paid | 118,419 | 81,473 |
From 3 to 4 years [member] | ||
Disclosure of maturity analysis for liquidity risk that arises from contracts within scope of IFRS 17 [line items] | ||
Estimations of the present value of the future cash flows that are expected to be paid | 884,953 | 878,500 |
From 3 to 4 years [member] | Life insurance contractual liabilities [member] | ||
Disclosure of maturity analysis for liquidity risk that arises from contracts within scope of IFRS 17 [line items] | ||
Estimations of the present value of the future cash flows that are expected to be paid | 751,224 | 772,743 |
From 3 to 4 years [member] | Life reinsurance contractual liabilities [member] | ||
Disclosure of maturity analysis for liquidity risk that arises from contracts within scope of IFRS 17 [line items] | ||
Estimations of the present value of the future cash flows that are expected to be paid | (608) | (359) |
From 3 to 4 years [member] | Other liabilities [member] | ||
Disclosure of maturity analysis for liquidity risk that arises from contracts within scope of IFRS 17 [line items] | ||
Estimations of the present value of the future cash flows that are expected to be paid | 134,337 | 106,116 |
From 4 to 5 years [member] | ||
Disclosure of maturity analysis for liquidity risk that arises from contracts within scope of IFRS 17 [line items] | ||
Estimations of the present value of the future cash flows that are expected to be paid | 921,965 | 923,094 |
From 4 to 5 years [member] | Life insurance contractual liabilities [member] | ||
Disclosure of maturity analysis for liquidity risk that arises from contracts within scope of IFRS 17 [line items] | ||
Estimations of the present value of the future cash flows that are expected to be paid | 781,239 | 794,191 |
From 4 to 5 years [member] | Life reinsurance contractual liabilities [member] | ||
Disclosure of maturity analysis for liquidity risk that arises from contracts within scope of IFRS 17 [line items] | ||
Estimations of the present value of the future cash flows that are expected to be paid | (626) | (373) |
From 4 to 5 years [member] | Other liabilities [member] | ||
Disclosure of maturity analysis for liquidity risk that arises from contracts within scope of IFRS 17 [line items] | ||
Estimations of the present value of the future cash flows that are expected to be paid | 141,352 | 129,276 |
More than 5 years [member] | ||
Disclosure of maturity analysis for liquidity risk that arises from contracts within scope of IFRS 17 [line items] | ||
Estimations of the present value of the future cash flows that are expected to be paid | 21,169,671 | 20,735,043 |
More than 5 years [member] | Life insurance contractual liabilities [member] | ||
Disclosure of maturity analysis for liquidity risk that arises from contracts within scope of IFRS 17 [line items] | ||
Estimations of the present value of the future cash flows that are expected to be paid | 20,348,966 | 19,943,775 |
More than 5 years [member] | Life reinsurance contractual liabilities [member] | ||
Disclosure of maturity analysis for liquidity risk that arises from contracts within scope of IFRS 17 [line items] | ||
Estimations of the present value of the future cash flows that are expected to be paid | (38,029) | (19,305) |
More than 5 years [member] | Other liabilities [member] | ||
Disclosure of maturity analysis for liquidity risk that arises from contracts within scope of IFRS 17 [line items] | ||
Estimations of the present value of the future cash flows that are expected to be paid | S/ 858,734 | S/ 810,573 |
Financial risk management - _20
Financial risk management - Summary of financial assets (based on non-discounted contractual cash flows) (Detail) - Liquidity risk [member] - PEN (S/) S/ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of portfolios of insurance contracts issued and reinsurance contracts [line items] | ||
Financial assets (based on non-discounted contractual cash flows) | S/ 23,403,209 | S/ 22,621,109 |
Investments at fair value through profit or loss [member] | ||
Disclosure of portfolios of insurance contracts issued and reinsurance contracts [line items] | ||
Financial assets (based on non-discounted contractual cash flows) | 3,373 | 3,565 |
Debt instruments at fair value through other comprehensive income [member] | ||
Disclosure of portfolios of insurance contracts issued and reinsurance contracts [line items] | ||
Financial assets (based on non-discounted contractual cash flows) | 23,372,635 | 22,617,544 |
Investments at amortized cost [member] | ||
Disclosure of portfolios of insurance contracts issued and reinsurance contracts [line items] | ||
Financial assets (based on non-discounted contractual cash flows) | 27,201 | |
Less than 1 year [member] | ||
Disclosure of portfolios of insurance contracts issued and reinsurance contracts [line items] | ||
Financial assets (based on non-discounted contractual cash flows) | 1,020,706 | 896,859 |
Less than 1 year [member] | Investments at fair value through profit or loss [member] | ||
Disclosure of portfolios of insurance contracts issued and reinsurance contracts [line items] | ||
Financial assets (based on non-discounted contractual cash flows) | 97 | 99 |
Less than 1 year [member] | Debt instruments at fair value through other comprehensive income [member] | ||
Disclosure of portfolios of insurance contracts issued and reinsurance contracts [line items] | ||
Financial assets (based on non-discounted contractual cash flows) | 1,020,609 | 896,760 |
From 1 to 2 years [member] | ||
Disclosure of portfolios of insurance contracts issued and reinsurance contracts [line items] | ||
Financial assets (based on non-discounted contractual cash flows) | 969,131 | 941,021 |
From 1 to 2 years [member] | Investments at fair value through profit or loss [member] | ||
Disclosure of portfolios of insurance contracts issued and reinsurance contracts [line items] | ||
Financial assets (based on non-discounted contractual cash flows) | 97 | 99 |
From 1 to 2 years [member] | Debt instruments at fair value through other comprehensive income [member] | ||
Disclosure of portfolios of insurance contracts issued and reinsurance contracts [line items] | ||
Financial assets (based on non-discounted contractual cash flows) | 969,034 | 940,922 |
From 2 to 3 years [member] | ||
Disclosure of portfolios of insurance contracts issued and reinsurance contracts [line items] | ||
Financial assets (based on non-discounted contractual cash flows) | 991,542 | 887,356 |
From 2 to 3 years [member] | Investments at fair value through profit or loss [member] | ||
Disclosure of portfolios of insurance contracts issued and reinsurance contracts [line items] | ||
Financial assets (based on non-discounted contractual cash flows) | 97 | 99 |
From 2 to 3 years [member] | Debt instruments at fair value through other comprehensive income [member] | ||
Disclosure of portfolios of insurance contracts issued and reinsurance contracts [line items] | ||
Financial assets (based on non-discounted contractual cash flows) | 991,445 | 887,257 |
From 3 to 4 years [member] | ||
Disclosure of portfolios of insurance contracts issued and reinsurance contracts [line items] | ||
Financial assets (based on non-discounted contractual cash flows) | 1,079,649 | 899,573 |
From 3 to 4 years [member] | Investments at fair value through profit or loss [member] | ||
Disclosure of portfolios of insurance contracts issued and reinsurance contracts [line items] | ||
Financial assets (based on non-discounted contractual cash flows) | 97 | 99 |
From 3 to 4 years [member] | Debt instruments at fair value through other comprehensive income [member] | ||
Disclosure of portfolios of insurance contracts issued and reinsurance contracts [line items] | ||
Financial assets (based on non-discounted contractual cash flows) | 1,079,552 | 899,474 |
From 4 to 5 years [member] | ||
Disclosure of portfolios of insurance contracts issued and reinsurance contracts [line items] | ||
Financial assets (based on non-discounted contractual cash flows) | 1,064,413 | 982,478 |
From 4 to 5 years [member] | Investments at fair value through profit or loss [member] | ||
Disclosure of portfolios of insurance contracts issued and reinsurance contracts [line items] | ||
Financial assets (based on non-discounted contractual cash flows) | 97 | 99 |
From 4 to 5 years [member] | Debt instruments at fair value through other comprehensive income [member] | ||
Disclosure of portfolios of insurance contracts issued and reinsurance contracts [line items] | ||
Financial assets (based on non-discounted contractual cash flows) | 1,064,316 | 982,379 |
More than 5 years [member] | ||
Disclosure of portfolios of insurance contracts issued and reinsurance contracts [line items] | ||
Financial assets (based on non-discounted contractual cash flows) | 18,277,768 | 18,013,822 |
More than 5 years [member] | Investments at fair value through profit or loss [member] | ||
Disclosure of portfolios of insurance contracts issued and reinsurance contracts [line items] | ||
Financial assets (based on non-discounted contractual cash flows) | 2,888 | 3,070 |
More than 5 years [member] | Debt instruments at fair value through other comprehensive income [member] | ||
Disclosure of portfolios of insurance contracts issued and reinsurance contracts [line items] | ||
Financial assets (based on non-discounted contractual cash flows) | 18,247,679 | S/ 18,010,752 |
More than 5 years [member] | Investments at amortized cost [member] | ||
Disclosure of portfolios of insurance contracts issued and reinsurance contracts [line items] | ||
Financial assets (based on non-discounted contractual cash flows) | S/ 27,201 |
Financial risk management - _21
Financial risk management - Summary of financial assets and the insurance contracts assets and liabilities of the Company by main currency (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 | Jan. 01, 2022 |
Disclosure in tabular form of financial asset and financial liabilities by main currency [line items] | |||
Cash and cash equivalents | S/ 9,818,711 | S/ 13,193,411 | S/ 17,104,465 |
Investments at fair value through profit or loss | 1,714,641 | 2,448,793 | |
Debt instruments at fair value through other comprehensive income | 21,246,569 | 17,038,942 | |
Investments at amortized cost | 61,651,344 | 63,294,936 | |
Insurance contracts assets- | |||
Life reinsurance held assets | 26,287 | 34,053 | S/ 53,849 |
Insurance contracts liabilities- | |||
Life insurance issued liabilities | 12,205,641 | 11,227,845 | |
Life reinsurance held liabilities | 7,260 | 5,648 | |
Currency risk [member] | |||
Disclosure in tabular form of financial asset and financial liabilities by main currency [line items] | |||
Cash and cash equivalents | 266,310 | 631,157 | |
Investments at fair value through profit or loss | 307,036 | 259,422 | |
Debt instruments at fair value through other comprehensive income | 12,446,165 | 11,035,646 | |
Investments at amortized cost | 23,584 | ||
Insurance contracts assets- | |||
Life reinsurance held assets | 26,287 | 34,051 | |
Insurance contracts liabilities- | |||
Life insurance issued liabilities | 12,205,641 | 11,227,845 | |
Life reinsurance held liabilities | 1,895 | 3,476 | |
US Dollar [member] | |||
Disclosure in tabular form of financial asset and financial liabilities by main currency [line items] | |||
Cash and cash equivalents | 6,745,220 | 10,205,093 | |
US Dollar [member] | Currency risk [member] | |||
Disclosure in tabular form of financial asset and financial liabilities by main currency [line items] | |||
Cash and cash equivalents | 48,899 | 419,481 | |
Investments at fair value through profit or loss | 300,007 | 247,998 | |
Debt instruments at fair value through other comprehensive income | 4,159,311 | 3,792,194 | |
Insurance contracts assets- | |||
Life reinsurance held assets | 166 | 1,032 | |
Insurance contracts liabilities- | |||
Life insurance issued liabilities | 3,997,075 | 4,240,359 | |
Sol [member] | |||
Disclosure in tabular form of financial asset and financial liabilities by main currency [line items] | |||
Cash and cash equivalents | 2,710,275 | 2,404,942 | |
Sol [member] | Currency risk [member] | |||
Disclosure in tabular form of financial asset and financial liabilities by main currency [line items] | |||
Cash and cash equivalents | 217,411 | 211,676 | |
Investments at fair value through profit or loss | 7,029 | 11,424 | |
Debt instruments at fair value through other comprehensive income | 8,286,854 | 7,243,452 | |
Investments at amortized cost | 23,584 | ||
Insurance contracts assets- | |||
Life reinsurance held assets | 26,121 | 33,019 | |
Insurance contracts liabilities- | |||
Life insurance issued liabilities | 8,208,566 | 6,987,486 | |
Life reinsurance held liabilities | S/ 1,895 | S/ 3,476 |
Financial risk management - _22
Financial risk management - Summary of group's exposure to insurance and reinsurance contracts sensitive to interest rate risk and debt instruments (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 | Jan. 01, 2022 |
Insurance contracts assets- | |||
Life reinsurance held | S/ 26,287 | S/ 34,053 | S/ 53,849 |
Insurance contracts liabilities- | |||
Life insurance issued | (12,205,641) | (11,227,845) | |
Life reinsurance held | (7,260) | (5,648) | |
Debt instruments at fair value through profit or loss | 1,714,641 | 2,448,793 | |
Debt instruments at fair value through other comprehensive income | 21,246,569 | 17,038,942 | |
Debt instruments at amortized cost | 61,651,344 | 63,294,936 | |
Interest rate risk [member] | |||
Insurance contracts assets- | |||
Life reinsurance held | 26,287 | 34,051 | |
Insurance contracts liabilities- | |||
Life insurance issued | 12,205,641 | 11,227,845 | |
Life reinsurance held | 1,895 | 3,476 | |
Debt instruments at fair value through profit or loss | 307,036 | 259,422 | |
Debt instruments at fair value through other comprehensive income | 12,446,165 | 11,035,646 | |
Debt instruments at amortized cost | 23,584 | ||
Total | S/ 25,010,608 | S/ 22,560,440 |
Financial risk management - _23
Financial risk management - Summary of the sensitivity analysis of fair value measurement (Detail) - Interest rate risk [member] - PEN (S/) S/ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Insurance and reinsurance contracts [member] | ||
Disclosure of sensitivity analysis of fair value measurement to changes in unobservable inputs, assets [line items] | ||
Change in basis points, Increase | 100% | |
Impact on income before taxes, Increase | S/ 16,542 | S/ 15,554 |
Impact on equity, Increase | S/ 1,075,830 | 921,286 |
Change in basis points, Decrease | 100% | |
Impact on income before taxes, Decrease | S/ (20,226) | (18,703) |
Impact on equity, Decrease | S/ (1,293,888) | (1,096,629) |
Debt instruments [member] | ||
Disclosure of sensitivity analysis of fair value measurement to changes in unobservable inputs, assets [line items] | ||
Change in basis points, Increase | 100% | |
Impact on income before taxes, Increase | S/ (100) | (107) |
Impact on equity, Increase | S/ (906,268) | (796,455) |
Change in basis points, Decrease | 100% | |
Impact on income before taxes, Decrease | S/ 115 | 124 |
Impact on equity, Decrease | S/ 1,048,722 | S/ 924,796 |
Fair value - Summary of fair va
Fair value - Summary of fair value measurement of assets and liabilities (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | S/ 23,071,703 | S/ 19,678,194 | |
Total financial assets | 23,406,088 | 20,000,619 | |
Derivatives payable [Member] | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 145,395 | 297,038 | |
Financial investments, Derivatives receivable [member] | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 158,101 | 515,800 | |
Accrued interest [member] | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 334,385 | 322,425 | |
Financial investments, At fair value through profit or loss [Member] | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 1,556,540 | 1,932,993 | |
Debt instruments measured at fair value through other comprehensive income [member] | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 20,912,184 | 16,716,517 | |
Equity instruments measured at fair value through other comprehensive income [member] | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 444,878 | 512,884 | |
Level 1 [member] | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 12,506,391 | 10,839,722 | |
Level 1 [member] | Financial investments, At fair value through profit or loss [Member] | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 329,609 | 428,739 | |
Level 1 [member] | Debt instruments measured at fair value through other comprehensive income [member] | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 11,779,535 | 9,946,427 | |
Level 1 [member] | Equity instruments measured at fair value through other comprehensive income [member] | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 397,247 | 464,556 | |
Level 2 [member] | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 9,645,446 | 7,860,637 | |
Level 2 [member] | Derivatives payable [Member] | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial liabilities | 145,395 | 297,038 | |
Level 2 [member] | Financial investments, Derivatives receivable [member] | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 158,101 | 515,800 | |
Level 2 [member] | Financial investments, At fair value through profit or loss [Member] | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 344,155 | 564,559 | |
Level 2 [member] | Debt instruments measured at fair value through other comprehensive income [member] | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 9,132,649 | 6,770,090 | |
Level 2 [member] | Equity instruments measured at fair value through other comprehensive income [member] | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 10,541 | 10,188 | |
Level 3 [member] | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 919,866 | 977,835 | S/ 1,133,763 |
Level 3 [member] | Financial investments, At fair value through profit or loss [Member] | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | 882,776 | 939,695 | |
Level 3 [member] | Equity instruments measured at fair value through other comprehensive income [member] | |||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | |||
Financial assets | S/ 37,090 | S/ 38,140 |
Fair Value - Summary of signifi
Fair Value - Summary of significant unobservable inputs used in fair value measurement of assets (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Listed Shares [Member] | Equity Method [Member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | ||
Description of valuation processes used in fair value measurement, assets | According to price risk | According to price risk |
Percentage of increase decrease in sensitivity analysis of input fair value | 5% | 5% |
Increase decrease in sensitivity analysis of input to fair value | S/ 1,854,000 | S/ 1,907,000 |
NAV [member] | Private equity funds [Member] | Net Asset Value Method [Member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | ||
Description of valuation processes used in fair value measurement, assets | Depends on each investment | Depends on each investment |
Percentage of increase decrease in sensitivity analysis of input fair value | 10% | 10% |
Increase decrease in sensitivity analysis of input to fair value | S/ 80,597,000 | S/ 86,944,000 |
NAV [member] | Private Equity Stocks [Member] | Net Asset Value Method [Member] | ||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | ||
Description of valuation processes used in fair value measurement, assets | Depends on each investment | Depends on each investment |
Percentage of increase decrease in sensitivity analysis of input fair value | 10% | 10% |
Increase decrease in sensitivity analysis of input to fair value | S/ 7,678,000 | S/ 7,022,000 |
Fair Value - Summary of fair _2
Fair Value - Summary of fair value measurement of assets (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Disclosure of fair value measurement of assets [line items] | ||
Initial balance as of January 1 | S/ 19,678,194 | |
Balance as of December 31 | 23,071,703 | S/ 19,678,194 |
Level 3 [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Initial balance as of January 1 | 977,835 | 1,133,763 |
Purchases | 85,777 | 180,344 |
Sales | (35,625) | (280,297) |
Loss recognized on the consolidated statement of income | (108,121) | (55,975) |
Balance as of December 31 | S/ 919,866 | S/ 977,835 |
Fair value - Summary of fair _3
Fair value - Summary of fair value measurement of assets and liabilities levels of hierarchy (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure Of Fair Value Measurement Of Assets And Liabilities Levels Of Hierarchy [Line Items] | ||
Financial assets at amortized cost | S/ 61,651,344 | S/ 63,294,936 |
Financial liabilities at amortized cost | 79,189,802 | 77,378,091 |
Deposits And Obligations [Member] | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities Levels Of Hierarchy [Line Items] | ||
Financial liabilities at amortized cost | 49,188,234 | 48,530,708 |
Inter Bank Funds [Member] | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities Levels Of Hierarchy [Line Items] | ||
Financial liabilities at amortized cost | 119,712 | 30,012 |
Due To Banks And Correspondents [Member] | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities Levels Of Hierarchy [Line Items] | ||
Financial liabilities at amortized cost | 9,025,930 | 7,100,646 |
Bonds Notes And Other Obligations [Member] | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities Levels Of Hierarchy [Line Items] | ||
Financial liabilities at amortized cost | 5,551,629 | 7,906,303 |
Due From Customers On Acceptances [Member] | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities Levels Of Hierarchy [Line Items] | ||
Financial liabilities at amortized cost | 40,565 | 45,809 |
Insurance And Reinsurance Contract Liabilities [Member] | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities Levels Of Hierarchy [Line Items] | ||
Financial liabilities at amortized cost | 12,207,536 | 11,231,321 |
Other accounts payable and other liabilities [member] | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities Levels Of Hierarchy [Line Items] | ||
Financial liabilities at amortized cost | 3,056,196 | 2,533,292 |
Cash and due from banks [Member] | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities Levels Of Hierarchy [Line Items] | ||
Financial assets at amortized cost | 9,818,711 | 13,193,411 |
Inter Bank Funds [Member] | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities Levels Of Hierarchy [Line Items] | ||
Financial assets at amortized cost | 524,915 | 296,119 |
Financial Investments [Member] | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities Levels Of Hierarchy [Line Items] | ||
Financial assets at amortized cost | 3,474,004 | 3,302,779 |
Loans Net [Member] | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities Levels Of Hierarchy [Line Items] | ||
Financial assets at amortized cost | 46,520,382 | 45,502,998 |
Due From Customers On Acceptances [Member] | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities Levels Of Hierarchy [Line Items] | ||
Financial assets at amortized cost | 40,565 | 45,809 |
Accounts receivable and other assets, net | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities Levels Of Hierarchy [Line Items] | ||
Financial assets at amortized cost | 1,246,480 | 919,767 |
Reinsurance Contract Assets [Member] | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities Levels Of Hierarchy [Line Items] | ||
Financial assets at amortized cost | 26,287 | 34,053 |
Level 1 [member] | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities Levels Of Hierarchy [Line Items] | ||
Financial assets at amortized cost | 3,277,672 | 2,949,507 |
Financial liabilities at amortized cost | 4,587,631 | 6,447,282 |
Level 1 [member] | Bonds Notes And Other Obligations [Member] | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities Levels Of Hierarchy [Line Items] | ||
Financial liabilities at amortized cost | 4,587,631 | 6,447,282 |
Level 1 [member] | Financial Investments [Member] | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities Levels Of Hierarchy [Line Items] | ||
Financial assets at amortized cost | 3,277,672 | 2,949,507 |
Level 2 [member] | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities Levels Of Hierarchy [Line Items] | ||
Financial assets at amortized cost | 56,474,995 | 57,421,419 |
Financial liabilities at amortized cost | 74,555,729 | 70,154,738 |
Level 2 [member] | Deposits And Obligations [Member] | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities Levels Of Hierarchy [Line Items] | ||
Financial liabilities at amortized cost | 49,394,868 | 48,464,095 |
Level 2 [member] | Inter Bank Funds [Member] | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities Levels Of Hierarchy [Line Items] | ||
Financial liabilities at amortized cost | 119,712 | 30,012 |
Level 2 [member] | Due To Banks And Correspondents [Member] | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities Levels Of Hierarchy [Line Items] | ||
Financial liabilities at amortized cost | 9,028,209 | 6,859,664 |
Level 2 [member] | Bonds Notes And Other Obligations [Member] | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities Levels Of Hierarchy [Line Items] | ||
Financial liabilities at amortized cost | 708,643 | 990,545 |
Level 2 [member] | Due From Customers On Acceptances [Member] | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities Levels Of Hierarchy [Line Items] | ||
Financial liabilities at amortized cost | 40,565 | 45,809 |
Level 2 [member] | Insurance And Reinsurance Contract Liabilities [Member] | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities Levels Of Hierarchy [Line Items] | ||
Financial liabilities at amortized cost | 12,207,536 | 11,231,321 |
Level 2 [member] | Other accounts payable and other liabilities [member] | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities Levels Of Hierarchy [Line Items] | ||
Financial liabilities at amortized cost | 3,056,196 | 2,533,292 |
Level 2 [member] | Cash and due from banks [Member] | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities Levels Of Hierarchy [Line Items] | ||
Financial assets at amortized cost | 9,818,711 | 13,193,411 |
Level 2 [member] | Inter Bank Funds [Member] | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities Levels Of Hierarchy [Line Items] | ||
Financial assets at amortized cost | 524,915 | 296,119 |
Level 2 [member] | Financial Investments [Member] | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities Levels Of Hierarchy [Line Items] | ||
Financial assets at amortized cost | 80,042 | |
Level 2 [member] | Loans Net [Member] | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities Levels Of Hierarchy [Line Items] | ||
Financial assets at amortized cost | 44,737,995 | 42,932,260 |
Level 2 [member] | Due From Customers On Acceptances [Member] | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities Levels Of Hierarchy [Line Items] | ||
Financial assets at amortized cost | 40,565 | 45,809 |
Level 2 [member] | Accounts receivable and other assets, net | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities Levels Of Hierarchy [Line Items] | ||
Financial assets at amortized cost | 1,246,480 | 919,767 |
Level 2 [member] | Reinsurance Contract Assets [Member] | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities Levels Of Hierarchy [Line Items] | ||
Financial assets at amortized cost | 26,287 | 34,053 |
Fair value [member] | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities Levels Of Hierarchy [Line Items] | ||
Financial assets at amortized cost | 59,752,667 | 60,370,926 |
Financial liabilities at amortized cost | 79,143,360 | 76,602,020 |
Fair value [member] | Deposits And Obligations [Member] | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities Levels Of Hierarchy [Line Items] | ||
Financial liabilities at amortized cost | 49,394,868 | 48,464,095 |
Fair value [member] | Inter Bank Funds [Member] | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities Levels Of Hierarchy [Line Items] | ||
Financial liabilities at amortized cost | 119,712 | 30,012 |
Fair value [member] | Due To Banks And Correspondents [Member] | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities Levels Of Hierarchy [Line Items] | ||
Financial liabilities at amortized cost | 9,028,209 | 6,859,664 |
Fair value [member] | Bonds Notes And Other Obligations [Member] | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities Levels Of Hierarchy [Line Items] | ||
Financial liabilities at amortized cost | 5,296,274 | 7,437,827 |
Fair value [member] | Due From Customers On Acceptances [Member] | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities Levels Of Hierarchy [Line Items] | ||
Financial liabilities at amortized cost | 40,565 | 45,809 |
Fair value [member] | Insurance And Reinsurance Contract Liabilities [Member] | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities Levels Of Hierarchy [Line Items] | ||
Financial liabilities at amortized cost | 12,207,536 | 11,231,321 |
Fair value [member] | Other accounts payable and other liabilities [member] | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities Levels Of Hierarchy [Line Items] | ||
Financial liabilities at amortized cost | 3,056,196 | 2,533,292 |
Fair value [member] | Cash and due from banks [Member] | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities Levels Of Hierarchy [Line Items] | ||
Financial assets at amortized cost | 9,818,711 | 13,193,411 |
Fair value [member] | Inter Bank Funds [Member] | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities Levels Of Hierarchy [Line Items] | ||
Financial assets at amortized cost | 524,915 | 296,119 |
Fair value [member] | Financial Investments [Member] | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities Levels Of Hierarchy [Line Items] | ||
Financial assets at amortized cost | 3,357,714 | 2,949,507 |
Fair value [member] | Loans Net [Member] | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities Levels Of Hierarchy [Line Items] | ||
Financial assets at amortized cost | 44,737,995 | 42,932,260 |
Fair value [member] | Due From Customers On Acceptances [Member] | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities Levels Of Hierarchy [Line Items] | ||
Financial assets at amortized cost | 40,565 | 45,809 |
Fair value [member] | Accounts receivable and other assets, net | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities Levels Of Hierarchy [Line Items] | ||
Financial assets at amortized cost | 1,246,480 | 919,767 |
Fair value [member] | Reinsurance Contract Assets [Member] | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities Levels Of Hierarchy [Line Items] | ||
Financial assets at amortized cost | S/ 26,287 | S/ 34,053 |
Fair value - Additional informa
Fair value - Additional information (Detail) - PEN (S/) S/ in Thousands | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Disclosure of fair value measurement of assets [line items] | ||
Transfers out of Level 1 into Level 2 of fair value hierarchy | S/ 32,577,000 | |
Transfers out of Level 2 into Level 1 of fair value hierarchy | 717,011,000 | |
Level 1 of fair value hierarchy [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Transfers out of Level 3 of fair value hierarchy, assets | 0 | S/ 0 |
Level 2 of fair value hierarchy [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Transfers out of Level 3 of fair value hierarchy, assets | S/ 0 | S/ 0 |
Fiduciary activities and mana_3
Fiduciary activities and management of funds - Summary of managed off-balance sheet financial assets (Detail) - PEN (S/) S/ in Thousands | Dec. 31, 2023 | Dec. 31, 2022 |
Disclosure of Off Balancesheet Financial Assets [Line Items] | ||
Off-Balance Sheet Financial Assets | S/ 23,181,503 | S/ 21,317,398 |
Investment funds [member] | ||
Disclosure of Off Balancesheet Financial Assets [Line Items] | ||
Off-Balance Sheet Financial Assets | 17,829,262 | 16,821,566 |
Mutual funds [member] | ||
Disclosure of Off Balancesheet Financial Assets [Line Items] | ||
Off-Balance Sheet Financial Assets | S/ 5,352,241 | S/ 4,495,832 |
Subsequent events - Additional
Subsequent events - Additional information (Detail) S/ in Thousands | Jan. 16, 2024 USD ($) | Dec. 31, 2023 PEN (S/) | Dec. 31, 2022 PEN (S/) |
Disclosure of non-adjusting events after reporting period [line items] | |||
Notional amount | S/ | S/ 10,634,546 | S/ 14,308,959 | |
7.625 Subordinated Notes | |||
Disclosure of non-adjusting events after reporting period [line items] | |||
Borrowings, interest rate | 7.625% | ||
Borrowings maturity | January 2034 | ||
Notional amount | $ | $ 300,000,000 |