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PROPERTY, FURNITURE AND EQUIPMENT, NET
 12 Months Ended
Dec. 31, 2022
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, 2022, 2021, and 2020 is as follows:

 

   
Land
    
Buildings and
other
constructions
    
Installations
    
Furniture
and fixtures
    
Computer
hardware
    
Vehicles
and
equipment
    
Work in
progress
    
2022
    
2021
    
2020
  
    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
    
401,856
      
1,157,506
      
720,176
      
465,006
      
602,387
      
115,650
      
38,309
      
3,500,890
      
3,515,202
      
3,512,477
  
Additions
    
1,756
      
20,112
      
22,857
      
35,596
      
41,543
      
754
      
70,082
      
192,700
      
107,790
      
98,120
  
Acquisition of business
    
–
      
–
      
–
      
151
      
268
      
–
      
–
      
419
      
–
      
–
  
Transfers
    
–
      
–
   
13,440
      
11,909
      
2,358
      
2,003
      
(29,710
)
    
–
      
–
      
–
  
Disposal, derecognition and others
    
(28,127
)
    
(30,713
)
    
(24,795
)
    
(45,528
)
    
(75,510
)
    
(6,246
)
    
(19,894
)
    
(230,813
)
    
(122,102
)
    
(95,395
)
Balance as of December 31
    
375,485
      
1,146,905
      
731,678
      
467,134
      
571,046
      
112,161
      
58,787
      
3,463,196
      
3,500,890
      
3,515,202
  
                                                                                 
Accumulated depreciation -
                                                                                
Balance as of January 1
    
–
      
711,547
      
527,619
      
327,178
      
534,693
      
91,074
      
–
      
2,192,111
      
2,140,327
      
2,084,304
  
Depreciation of the period
    
–
      
26,134
      
33,614
      
29,316
      
33,662
      
5,717
      
–
      
128,443
      
140,173
      
142,092
  
Acquisition of business
    
–
      
–
      
–
      
46
      
56
      
–
      
–
      
102
      
–
      
–
  
Transfers
    
–
      
–
   
–
      
–
      
–
   
–
      
–
      
–
      
–
      
–
  
Disposals and others
    
–
      
(12,091
)
    
(11,232
)
    
(32,460
)
    
(75,802
)
    
(6,973
)
    
–
      
(138,558
)
    
(88,389
)
    
(86,069
)
Balance as of December 31
    
–
      
725,590
      
550,001
      
324,080
      
492,609
      
89,818
      
–
      
2,182,098
      
2,192,111
      
2,140,327
  
                                                                                 
Net carrying amount
    
375,485
      
421,315
      
181,677
      
143,054
      
78,437
      
22,343
      
58,787
      
1,281,098
      
1,308,779
      
1,374,875
  

Banks, financial institutions, and insurance entities that operate in Peru cannot pledge their fixed assets.

During the year 2022, the administration, as part of the investment in fixed assets, has made disbursements related mainly to the purchase of furniture and fixtures, for the conditioning and remodeling of its various agencies and administrative offices. Likewise, during 2021, as part of the investment in fixed assets that it makes annually, it has made disbursements related mainly to the remodeling of its headquarters located in La Molina, San Pedro office, Lima office. During 2020, the Bank 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 the year 2022, Management decided to sell various properties, mainly land and buildings, whose approximate sale price was S/46.1 million, with a cost of S/33.8 million. During the year 2021, Management decided to sell various properties, mainly land and buildings, whose approximate sale price was S/14.2 million, with a cost of S/7.9 million. During the year 2020, Management decided to carry out the sale of real estate, the main one being the property located on Av. Francisco Bolognesi, district of Chimbote, department of Ancash and the second property located on Ayabaca street, district and province of Ica, whose sale price of both properties amounted to S/3.3 million.

The subsidiaries of Credicorp Ltd. maintain insurance on their main assets in accordance with the policies established by Management.

Management periodically reviews the residual value, the useful life and the depreciation method used of the Group's property, furniture and equipment; in order to ensure that these are consistent with their current economic benefit and life expectancy. In Management's opinion, as of December 31, 2022 and December 31, 2021, and 2020, there is no evidence of impairment of the Group's property, furniture and equipment.