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PROPERTY, FURNITURE AND EQUIPMENT, NET
 12 Months Ended
Dec. 31, 2021
PROPERTY, FURNITURE AND EQUIPMENT, NET [Abstract]  
PROPERTY, FURNITURE AND EQUIPMENT, NET
10
PROPERTY, FURNITURE AND EQUIPMENT, NET


a)
The movement of property, furniture and equipment and accumulated depreciation, for the years ended December 31, 2021, 2020, and 2019 was as follows:

   
Land
    
Buildings and
other
constructions
    
Installations
    
Furniture
and fixtures
    
Computer
hardware
    
Vehicles
and
equipment
    
Work in
progress
    
2021
    
2020
    
2019
  
    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
    
403,205
      
1,171,785
      
675,940
      
474,432
      
612,891
      
115,407
      
61,542
      
3,515,202
      
3,512,477
      
3,573,580
  
Additions
    
3,657
      
9,348
      
8,030
      
13,062
      
28,527
      
4,527
      
40,639
      
107,790
      
98,120
      
134,776
  
Acquisition of business, Note 2(a)
    
–
      
–
      
–
      
–
      
–
      
–
      
–
      
–
      
–
      
29,893
  
Transfers
    
873
      
(4,621
)
    
44,549
      
1,735
      
5,395
      
4,945
      
(52,876
)
    
–
      
–
      
–
  
Disposals and others
    
(5,879
)
    
(19,006
)
    
(8,343
)
    
(24,223
)
    
(44,426
)
    
(9,229
)
    
(10,996
)
    
(122,102
)
    
(95,395
)
    
(225,772
)
Balance as of December 31
    
401,856
      
1,157,506
      
720,176
      
465,006
      
602,387
      
115,650
      
38,309
      
3,500,890
      
3,515,202
      
3,512,477
  
                                                                                 
Accumulated depreciation -
                                                                                
Balance as of January 1
    
–
      
689,061
      
503,973
      
318,705
      
537,990
      
90,598
      
–
      
2,140,327
      
2,084,304
      
2,092,878
  
Depreciation of the period
    
–
      
30,750
      
30,838
      
31,594
      
41,131
      
5,860
      
–
      
140,173
      
142,092
      
146,066
  
Acquisition of business, Note 2(a)
    
–
      
–
      
–
      
–
      
–
      
–
      
–
      
–
      
–
      
19,299
  
Transfers
    
–
      
(1,151
)
    
1,151
      
2
      
(2
)
    
–
      
–
      
–
      
–
      
–
  
Disposals and others
    
–
      
(7,113
)
    
(8,343
)
    
(23,123
)
    
(44,426
)
    
(5,384
)
    
–
      
(88,389
)
    
(86,069
)
    
(173,939
)
Balance as of December 31
    
–
      
711,547
      
527,619
      
327,178
      
534,693
      
91,074
      
–
      
2,192,111
      
2,140,327
      
2,084,304
  
                                                                                 
Net carrying amount
    
401,856
      
445,959
      
192,557
      
137,828
      
67,694
      
24,576
      
38,309
      
1,308,779
      
1,374,875
      
1,428,173
  

Banks, financial institutions and insurance entities operating in Perú are not allowed to pledge their fixed assets.

During 2021, the Bank as part of the investment in fixed assets made annually, it has made disbursements related mainly to the remodeling of its headquarters located in La Molina , San Pedro and Lima office. During 2020, the Bank as part of the investment in fixed assets made annually, it has made disbursements related mainly to the remodeling of its headquarters located in La Molina and the comprehensive remodeling of the Café Dasso office. During 2019, the Bank has made disbursements mainly related to the remodeling of its headquarters in La Molina and integral remodeling to the Sucursal Cusco.

Credicorp’s subsidiaries hold insurance contracts over its main assets in accordance with the policies established by Management.

Management periodically reviews the residual value, useful life and method of depreciation of the Group’s property, furniture and equipment to ensure that they are consistent with their actual economic benefits and life expectations. In Management’s opinion, as of December 31, 2021, 2020 and 2019 there is no evidence of impairment of the Group’s property, furniture and equipment.