FINANCIAL AND NON-FINANCIAL RISK MANAGEMENT (Tables)

12 Months Ended

Dec. 31, 2022

Disclosure of financial risk management [line Items]

Direct Credits Classification into Groups and Allowance for each Types of Loans

The following is a summary of the direct credits classified into three important groups and their respective allowance for loan losses for each type of loan; it is important to note that impaired loans are loans in default that are in stage 3. Additionally, it should be noted that, in accordance with IFRS 7, the total balance of the loan is considered overdue when the debtor has failed to make a payment at its contractual maturity.

	2022								2021
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)
Neither past due nor impaired		66,885,472		6,848,298		–		73,733,770		69,831,342		8,987,668		–		78,819,010
Past due but not impaired		804,155		691,215		–		1,495,370		542,210		739,183		–		1,281,393
Impaired		–		–		6,439,760		6,439,760		–		–		6,906,547		6,906,547
Gross		67,689,627		7,539,513		6,439,760		81,668,900		70,373,552		9,726,851		6,906,547		87,006,950
Less: Provision for loan losses		503,651		489,381		2,260,569		3,253,601		554,018		636,875		2,206,979		3,397,872
Total, net		67,185,976		7,050,132		4,179,191		78,415,299		69,819,534		9,089,976		4,699,568		83,609,078

Residential 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)
Neither past due nor impaired		18,213,711		2,747,557		–		20,961,268		18,446,261		1,466,878		–		19,913,139
Past due but not impaired		426,722		459,525		–		886,247		255,928		291,247		–		547,175
Impaired		–		–		1,388,060		1,388,060		–		–		1,371,146		1,371,146
Gross		18,640,433		3,207,082		1,388,060		23,235,575		18,702,189		1,758,125		1,371,146		21,831,460
Less: Provision for loan losses		83,536		126,834		757,778		968,148		76,706		97,388		800,639		974,733
Total, net		18,556,897		3,080,248		630,282		22,267,427		18,625,483		1,660,737		570,507		20,856,727

Microbusiness 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)
Neither past due nor impaired		13,128,339		6,452,839		–		19,581,178		10,616,608		8,349,028		–		18,965,636
Past due but not impaired		236,253		813,423		–		1,049,676		134,473		576,320		–		710,793
Impaired		–		–		1,741,439		1,741,439		–		–		1,906,172		1,906,172
Gross		13,364,592		7,266,262		1,741,439		22,372,293		10,751,081		8,925,348		1,906,172		21,582,601
Less: Provision for loan losses		315,837		540,906		1,113,145		1,969,888		434,049		625,252		1,148,629		2,207,930
Total, net		13,048,755		6,725,356		628,294		20,402,405		10,317,032		8,300,096		757,543		19,374,671

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)
Neither past due nor impaired		15,136,571		3,029,538		–		18,166,109		11,870,584		2,718,498		–		14,589,082
Past due but not impaired		205,944		442,066		–		648,010		104,821		202,577		–		307,398
Impaired		–		–		1,099,382		1,099,382		–		–		1,099,328		1,099,328
Gross		15,342,515		3,471,604		1,099,382		19,913,501		11,975,405		2,921,075		1,099,328		15,995,808
Less: Provision for loan losses		300,321		439,572		940,872		1,680,765		317,595		637,762		941,416		1,896,773
Total, net		15,042,194		3,032,032		158,510		18,232,736		11,657,810		2,283,313		157,912		14,099,035

Consolidated of 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)
Total gross direct loans, Note 7(a)		115,037,167		21,484,461		10,668,641		147,190,269		111,802,227		23,331,399		11,283,193		146,416,819
Total credit losses, Note 7(a)		1,203,345		1,596,693		5,072,364		7,872,402		1,382,368		1,997,277		5,097,663		8,477,308
Total net direct loans		113,833,822		19,887,768		5,596,277		139,317,867		110,419,859		21,334,122		6,185,530		137,939,511

Renegotiated Loans and Expected Credit Loss

As of December 31, 2022, and 2021, renegotiated loans and their expected credit loss are composed as follows:

	2022				2021
	Refinanced loans		Allowance for loan losses		Refinanced loans		Allowance for loan losses
	S/(000)		S/(000)		S/(000)		S/(000)
Stage 1		67,619		702		60,420		1,097
Stage 2		23,157		1,698		44,861		10,617
Stage 3		1,999,383		863,751		1,681,057		936,994
Total		2,090,159		866,151		1,786,338		948,708

	2022				2021
	Renegotiated loans COVID		Allowance for loan losses		Renegotiated loans COVID		Allowance for loan losses
	S/(000)		S/(000)		S/(000)		S/(000)
Stage 1		5,137,915		60,660		10,747,826		178,357
Stage 2		2,544,631		211,866		5,440,274		666,092
Stage 3		2,023,938		1,268,559		2,752,914		1,567,504
Total		9,706,484		1,541,085		18,941,014		2,411,953

Impaired Loans, Fair Value of Collateral and Allowance of Loan Losses

The detail of the gross amount of impaired direct loans by type of loan, together with the fair value of the related collateral and the amounts of its allowance for loan losses, are as follows:

	2022										2021
	Commercial loans		Residential mortgage loans		Microbusiness loans		Consumer loans		Total		Commercial loans		Residential mortgage loans		Microbusiness loans		Consumer loans		Total
	S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)
Impaired loans		6,439,760		1,388,060		1,741,439		1,099,382		10,668,641		6,906,547		1,371,146		1,906,172		1,099,328		11,283,193
Fair value of collateral		5,646,832		1,204,144		440,715		279,380		7,571,071		6,298,966		1,181,979		486,477		279,861		8,247,283
Provision for credit losses		2,260,569		757,778		1,113,145		940,872		5,072,364		2,206,979		800,639		1,148,628		941,416		5,097,662

Past Due under IFRS 7

The total of the concepts: loans with a delay of payment from the first day and the amounts of the internal overdue loans reflect the totality of “past due” loans consistent with IFRS 7.

	2022												2021
	Current loans		Current but impaired loans		Loans with delays in payments of one day or more but not considered internal overdue loans		Internal overdue loans		Total		Total past due under IFRS 7		Current loans		Current but impaired loans		Loans with delays in payments of one day or more but not considered internal overdue loans		Internal overdue loans		Total		Total past due under IFRS 7
	S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)
Neither past due nor impaired		132,442,147		–		–		178		132,442,325		178		132,273,846		–		–		13,021		132,286,867		13,021
Past due but not impaired		–		–		3,504,999		574,304		4,079,303		4,079,304		-		–		2,400,329		446,430		2,846,759		2,846,759
Impaired debt		–		4,461,962		827,340		5,379,339		10,668,641		6,206,680		–		5,357,744		822,461		5,102,988		11,283,193		5,925,449
Total		132,442,147		4,461,962		4,332,339		5,953,821		147,190,269		10,286,161		132,273,846		5,357,744		3,222,790		5,562,439		146,416,819		8,785,229

Classification of Loans by Banking and Maturity

The classification of loans by type of loan and maturity is as follows:

	2022										2021
	Current loans		Current but impaired loans		Loans with delays in payments of one day or more but not considered internal overdue loans		Internal overdue loans		Total		Current loans		Current but impaired loans		Loans with delays in payments of one day or more but not considered internal overdue loans		Internal overdue loans		Total
	S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)
Commercial loans		73,733,752		3,115,029		1,496,743		3,323,376		81,668,900		78,815,254		3,627,246		1,362,487		3,201,963		87,006,950
Residential mortgage loans		20,961,268		506,639		1,076,953		690,715		23,235,575		19,913,139		581,358		731,821		605,142		21,831,460
Microbusiness loans		19,581,019		365,265		950,477		1,475,532		22,372,293		18,956,460		524,064		683,183		1,418,894		21,582,601
Consumer loans		18,166,108		475,029		808,166		464,198		19,913,501		14,588,993		625,076		445,299		336,440		15,995,808
Total		132,442,147		4,461,962		4,332,339		5,953,821		147,190,269		132,273,846		5,357,744		3,222,790		5,562,439		146,416,819

Carrying Amount of Allowances for Direct and Indirect Loans Losses and its Estimation

The following table provides a comparison between the carrying amount of allowance for loan losses for direct loans, indirect loans and due from customers on banker’s acceptances, and its estimation under three scenarios: base, optimistic and pessimistic.

	2022		2021
	S/(000)		S/(000)
Carrying amount		8,530,986		9,071,011
Scenarios:
Optimistic		8,457,825		9,014,409
Base Case		8,517,295		9,078,873
Pessimistic		8,631,531		9,173,730

Risk Rating Analysis of Investments

The following table shows the analysis of the risk-rating of the investments at fair value through profit or loss, at fair value through other comprehensive income and amortized cost provided by the institutions referred to above:

	2022				2021
	S/(000)		%		S/(000)		%
Instruments rated in Peru:
AAA		242,679		0.5		303,831		0.6
AA- a AA+		311,810		0.7		62,287		0.1
A- to A+ (i)		1,931,461		4.3		5,182		–
BBB- to BBB+		18,828,927		41.5		21,050,591		43.1
BB- to BB+		454,480		1.0		694,398		1.4
Lower and equal to +B		–		–		82,395		0.2
Unrated:
BCRP certificates of deposit (ii)		7,019,479		15.5		9,448,574		19.3
Listed and unlisted securities		344,842		0.8		384,243		0.8
Restricted mutual funds		351,317		0.8		365,954		0.7
Investment funds		628,476		1.4		295,480		0.6
Mutual funds		76,111		0.2		20,672		–
Hedge funds		–		–		24,275		–
Other instruments		237,174		0.5		39,035		0.1
Subtotal		30,426,756		67.2		32,776,917		66.9

	2022				2021
	S/(000)		%		S/(000)		%
Instruments rated abroad:
AAA		2,313,750		5.1		1,723,289		3.5
AA- a AA+		1,201,340		2.6		1,508,978		3.1
A- to A+		1,356,963		3.0		2,172,071		4.4
BBB- to BBB+		4,322,363		9.5		4,642,916		9.5
BB- to BB+		2,790,835		6.1		3,357,991		6.9
Lower and equal to +B		132,760		0.3		119,379		0.2
Unrated:
Listed and unlisted securities		34,182		0.1		84,428		0.2
Mutual funds		1,505,939		3.3		1,553,561		3.2
Participations of RAL funds		167,781		0.4		323,139		0.7
Investment funds		257,098		0.6		236,367		0.5
Hedge funds		280		–		152,541		0.3
Other instruments		921,177		1.8		300,963		0.6
Subtotal		15,004,468		32.8		16,175,623		33.1
Total		45,431,224		100.0		48,952,540		100.0

(i) The increase in the balance is mainly due to the acquisition of new financial instruments rated A- to A+.

(ii) The decrease in the balance is mainly due to the maturity of these instruments, see notes, 6(a)(vi) and 6(b)(iii).

Concentration of Financial Instruments Exposed to Credit Risk

As of December 31, 2022 and 2021, financial instruments with exposure to credit risk were distributed considering the following economic sectors:

	2022										2021
	At fair value through profit for loss										At fair value through profit for loss
	Held for trading, hedging and others (*)		Designated at inception		Financial assets at amortized cost		At fair value through other comprehensive income investments		Total		Held for trading, hedging and others (*)		Designated at inception		Financial assets at amortized cost		At fair value through other comprehensive income investments		Total
	S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)
Central Reserve Bank of Peru		–		–		24,157,868		7,019,479		31,177,347		1,243,890		–		25,687,934		8,337,430		35,269,254
Financial services		3,866,108		312,993		15,503,612		4,311,513		23,994,226		3,722,668		284,119		18,726,408		5,659,672		28,392,867
Commerce		17,992		28		26,448,551		1,412,625		27,879,196		51,436		4,610		26,716,462		1,484,116		28,256,624
Manufacturing		139,321		35,435		23,541,034		1,697,174		25,412,964		180,666		193,091		22,713,289		2,236,216		25,323,262
Government and public administration		826,279		207		10,318,450		9,547,356		20,692,292		1,605,754		9,516		8,142,978		10,225,797		19,984,045
Mortgage loans		–		–		22,381,290		–		22,381,290		–		–		21,128,330		–		21,128,330
Consumer loans		–		–		18,740,588		–		18,740,588		–		–		14,717,230		–		14,717,230
Real estate and leasing		68,797		–		10,088,768		15,074		10,172,639		81,019		–		11,362,371		49,909		11,493,299
Communications, storage and transportation		55,499		270,906		6,495,988		1,096,852		7,919,245		93,649		401,789		7,282,709		1,154,948		8,933,095
Electricity, gas and water		180,772		107,161		4,884,840		3,250,100		8,422,873		299,189		11,947		4,472,766		3,648,154		8,432,056
Community services		–		–		6,500,918		–		6,500,918		–		–		7,584,239		–		7,584,239
Construction		12,899		–		3,633,858		384,521		4,031,278		23,109		850		3,882,922		557,059		4,463,940
Mining		6,323		–		3,883,227		149,861		4,039,411		108,609		846		4,535,519		223,810		4,868,784
Agriculture		485		–		4,867,488		20,942		4,888,915		6,113		–		4,613,294		31,633		4,651,040
Hotels and restaurants		–		–		2,736,252		–		2,736,252						2,805,317				2,805,317
Education, health and others		89,033		42,071		1,631,340		853,292		2,615,736		102,655		75,774		1,778,522		590,558		2,547,509
Insurance		1,363		–		2,036,187		4,542		2,042,092		14,057		–		2,185,490		832		2,200,379
Fishing		506		–		578,526		–		579,032		1,532		–		611,616		–		613,148
Others		412,683		–		2,531,987		1,022,830		3,967,500		55,820		4,540		3,987,272		558,309		4,605,941
Total		5,678,060		768,801		190,960,772		30,786,161		228,193,794		7,590,166		987,082		192,934,668		34,758,443		236,270,359

(*) Includes non-trading investments that did not pass SPPI test.

Financial Assets Subject to Offsetting

Financial assets subject to offsetting, enforceable master netting agreements and similar agreements:

	2022
			Net of financial assets presented in the consolidated statements of financial position		Related amounts not offset in the consolidated statement of financial position
Details	Gross amounts recognized financial assets				Financial instruments			Cash collateral received			Net amount
	S/(000)		S/(000)		S/(000)			S/(000)			S/(000)
Receivables from derivatives		1,500,335		1,500,335		(285,850	)		(145,945	)		1,068,540
Cash collateral, reverse repurchase agreements and securities borrowing		1,101,856		1,101,856		–			(224,947	)		876,909
Investments at fair value through other comprehensive income and amortized cost pledged as collateral		3,540,528		3,540,528		(3,062,627	)		–			477,901
Total		6,142,719		6,142,719		(3,348,477	)		(370,892	)		2,423,350

	2021
			Net of financial assets presented in the consolidated statements of financial position		Related amounts not offset in the consolidated statement of financial position
Details	Gross amounts recognized financial assets				Financial instruments			Cash collateral received			Net amount
	S/(000)		S/(000)		S/(000)			S/(000)			S/(000)
Receivables from derivatives		1,661,628		1,661,628		(237,575	)		(70,621	)		1,353,432
Cash collateral, reverse repurchase agreements and securities borrowing		1,766,948		1,766,948		–			(344,461	)		1,422,487
Available-for-sale and held-to-maturity investments pledged as collateral		3,853,967		3,853,967		(1,883,323	)		–			1,970,644
Total		7,282,543		7,282,543		(2,120,898	)		(415,082	)		4,746,563

Financial Liabilities Subject to Offsetting

Financial liabilities subject to offsetting, enforceable netting master agreements and similar agreements:

	2022
			Net amounts of financial liabilities presented in the consolidated statement of financial position		Related amounts not offset in the consolidated statement of financial position
Details	Gross amounts of recognized financial liabilities				Financial instruments			Cash collateral pledged			Net amount
	S/(000)		S/(000)		S/(000)			S/(000)			S/(000)
Payables on derivatives		1,367,274		1,367,274		(285,850	)		(184,378	)		897,046
Payables on repurchase agreements and securites lending		12,966,725		12,966,725		(10,655,534	)		(649,769	)		1,661,422
Total		14,333,999		14,333,999		(10,941,384	)		(834,147	)		2,558,468

	2021
			Net amounts of financial liabilities presented in the consolidated statement of financial position		Related amounts not offset in the consolidated statement of financial position
Details	Gross amounts of recognized financial liabilities				Financial instruments			Cash collateral pledged			Net amount
	S/(000)		S/(000)		S/(000)			S/(000)			S/(000)
Payables on derivatives		1,524,761		1,524,761		(237,575	)		(428,672	)		858,514
Payables on repurchase agreements and securites lending		22,013,866		22,013,866		(17,698,069	)		(1,080,616	)		3,235,181
Total		23,538,627		23,538,627		(17,935,644	)		(1,509,288	)		4,093,695

Schedule of VAR by Risk Type

As of December 31, 2022, and 2021, the Group’s VaR by risk type is as follows:

	2022			2021
	S/(000)			S/(000)
Interest rate risk		74,343			35,721
Price risk		5,219			4,637
Volatility risk		2,032			2,662
Diversification effect		(7,347	)		(4,916	)
Consolidated VaR by type of risk		74,247			38,104

Results of Sensitivity Analysis Regarding Changes in Interest Rates

The results of the sensitivity analysis regarding changes in interest rates as of December 31, 2022 and 2021 are presented below:

2022
Currency	Changes in basis points		Sensitivity of net profit		Sensitivity of Net Economic Value
			S/(000)		S/(000)
Soles	+/-	50	+/-	40,037	-/+	209,066
Soles	+/-	75	+/-	60,056	-/+	313,598
Soles	+/-	100	+/-	80,075	-/+	418,131
Soles	+/-	150	+/-	120,112	-/+	627,197
U.S. Dollar	+/-	50	+/-	102,016	+/-	341,233
U.S. Dollar	+/-	75	+/-	153,023	+/-	511,849
U.S. Dollar	+/-	100	+/-	204,031	+/-	682,465
U.S. Dollar	+/-	150	+/-	306,047	+/-	1,023,698

2021
Currency	Changes in basis points		Sensitivity of net profit		Sensitivity of Net Economic Value
			S/(000)		S/(000)
Soles	+/-	50	-/+	45,487	-/+	340,772
Soles	+/-	75	-/+	68,231	-/+	511,158
Soles	+/-	100	-/+	90,975	-/+	681,544
Soles	+/-	150	-/+	136,462	-/+	1,022,316
U.S. Dollar	+/-	50	+/-	115,376	+/-	413,488
U.S. Dollar	+/-	75	+/-	173,064	+/-	620,232
U.S. Dollar	+/-	100	+/-	230,752	+/-	826,976
U.S. Dollar	+/-	150	+/-	346,128	+/-	1,240,463

Information about Assets and Liabilities by Currencies

Transactions in foreign currency are made at free market exchange rates of the countries where Credicorp’s Subsidiaries are established. As of December 31,2022 and 2021, the net open monetary position with effect on results and the equity position of the Group was as follows:

	2022									2021
	U.S. Dollar			Other currencies			Total			U.S. Dollar			Other currencies			Total
		S/(000)			S/(000)			S/(000)			S/(000)			S/(000)			S/(000)
Total monetary assets		77,853,626			364,108			78,217,734			79,005,337			503,809			79,509,146
Total monetary liabilities		(79,016,765	)		(217,568	)		(79,234,333	)		(81,716,408	)		(415,951	)		(82,132,359	)
		(1,163,139	)		146,540			(1,016,599	)		(2,711,071	)		87,858			(2,623,213	)
Currency derivatives		353,166			(127,382	)		225,784			2,142,654			(55,696	)		2,086,958
Accounting hedge (investment abroad) (*)		872,750			–			872,750			912,337			–			912,337
Net monetary position with effect on consolidated statement of income		62,777			19,158			81,935			343,920			32,162			376,082
Net monetary position with effect on equity		785,030			1,872,697			2,657,727			1,021,603			1,864,335			2,885,938
Net monetary position		847,807			1,891,855			2,739,662			1,365,523			1,896,497			3,262,020

(*) An accounting hedge of net investment abroad was carried out where part of our liability position in dollars related to the balance of the caption “bonds and notes issued”, see Note 17(iv), was designated as cover our permanent investment in Atlantic Security Holding.

Sensitivity Analysis

Sensitivity analysis of the foreign exchange position with effect in the consolidated income statement is shown below:

Currency rate sensibility	Change in currency rates		2022			2021
	%		S/(000)			S/(000)
Depreciation -
Soles in relation to U.S. Dollar		5		2,989			16,377
Soles in relation to U.S. Dollar		10		5,707			31,265
Appreciation -
Soles in relation to U.S. Dollar		5		(3,304	)		(18,101	)
Soles in relation to U.S. Dollar		10		(6,975	)		(38,213	)

The following is the sensitivity analysis of the foreign exchange position with effect in other comprehensive income, being the main currencies of  exposure: U.S. Dollar, Boliviano,Colombian Peso and Chilean Peso. This analysis is shown as of December 31, 2022 and 2021:

Currency rate sensibility	Change in currency rates		2022			2021
	%		S/(000)			S/(000)
Depreciation -
Soles in relation to U.S. Dollar		5		37,382			48,648
Soles in relation to U.S. Dollar		10		71,366			92,873
Appreciation -
Soles in relation to U.S. Dollar		5		(41,317	)		(53,769	)
Soles in relation to U.S. Dollar		10		(87,226	)		(113,511	)

Currency rate sensibility	Change in currency rates		2022			2021
	%		S/(000)			S/(000)
Depreciation -
Soles in relation to Boliviano		5		45,462			44,220
Soles in relation to Boliviano		10		86,791			84,421
Appreciation -
Soles in relation to Boliviano		5		(50,247	)		(48,875	)
Soles in relation to Boliviano		10		(106,078	)		(103,181	)

Currency rate sensibility	Change in currency rates		2022			2021
	%		S/(000)			S/(000)
Depreciation -
Soles in relation to Colombian Peso		5		26,984			29,933
Soles in relation to Colombian Peso		10		51,515			57,145
Appreciation -
Soles in relation to Colombian Peso		5		(29,825	)		(33,084	)
Soles in relation to Colombian Peso		10		(62,963	)		(69,844	)

Currency rate sensibility	Change in currency rates		2022			2021
	%		S/(000)			S/(000)
Depreciation -
Soles in relation to Chilean Peso		5		16,571			14,494
Soles in relation to Chilean Peso		10		31,636			27,671
Appreciation -
Soles in relation to Chilean Peso		5		(18,316	)		(16,020	)
Soles in relation to Chilean Peso		10		(38,667	)		(33,820	)

Cash Flows Associated with Remaining Contractual Maturities

The table below presents the cash flows payable by the Group by remaining contractual maturities (including future interest payments) at the date of the consolidated statement of financial position. The amounts disclosed in the table are the contractual undiscounted cash flows:

	2022															2021
	Up to a month			From 1 to 3 months			From 3 to 12 months			From 1 to 5 years		Over 5 Year		Total		Up to a month		From 1 to 3 months			From 3 to 12 months		From 1 to 5 years		Over 5 Year		Total
		S/(000)			S/(000)			S/(000)			S/(000)		S/(000)		S/(000)		S/(000)		S/(000)			S/(000)		S/(000)		S/(000)		S/(000)
Financial assets		52,536,473			29,896,708			56,269,244			81,866,805		45,786,353		266,355,583		53,974,020		29,392,887			57,407,776		87,518,411		52,533,115		280,826,209
Financial liabilities by type -
Deposits and obligations		37,822,104			13,802,039			25,833,124			64,047,112		8,546,334		150,050,713		39,925,283		14,114,645			21,880,217		66,895,318		8,562,256		151,377,719
Payables from reverse purchase agreements and security lendings and due to banks and correspondents		4,359,993			2,368,114			6,525,912			7,913,422		10,387,277		31,554,718		2,905,794		2,425,239			10,284,733		12,265,794		9,383,273		37,264,833
Accounts payable to reinsurers		89,444			259,463			50,083			21,104		–		420,094		98,755		286,473			55,296		23,301		–		463,825
Financial liabilities designated at fair value through profit or loss		191,010			–			–			–		–		191,010		325,571		–			–		–		–		325,571
Bonds and notes issued		217,504			171,471			3,357,173			13,402,553		374,935		17,523,636		216,167		219,177			1,024,759		17,124,890		424,338		19,009,331
Lease liabilities		32,390			35,637			105,931			314,714		129,445		618,117		30,048		37,284			106,712		386,878		170,976		731,898
Other liabilities		3,951,313			220,760			253,965			7,783		1,676,819		6,110,640		3,458,357		264,424			206,805		44,905		1,383,704		5,358,195
Total liabilities		46,663,758			16,857,484			36,126,188			85,706,688		21,114,810		206,468,928		46,959,975		17,347,242			33,558,522		96,741,086		19,924,547		214,531,372
Derivative financial liabilities -
Contractual amounts receivable (Inflows)		1,451,819			1,931,304			972,276			876,270		384,857		5,616,526		216,642		400,857			2,633,067		758,817		771,008		4,780,391
Contractual amounts payable (outflows)		1,454,360			1,932,240			977,394			840,215		334,500		5,538,709		209,197		401,809			2,574,730		717,419		646,397		4,549,552
Total liabilities		(2,541	)		(936	)		(5,118	)		36,055		50,357		77,817		7,445		(952	)		58,337		41,398		124,611		230,839

Analysis of Financial Instruments Measured at Fair Value by Level in Fair Value Hierarchy

The following table analyses financial instruments measured at fair value at the reporting date, by the level in the fair value hierarchy into which the fair value measurement is categorized. The amounts are based on the values recognized in the consolidated statement of financial position:

			2022								2021
	Note		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
			S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)
Financial assets
Derivative financial instruments:
Currency swaps				–		410,439		–		410,439		–		860,170		–		860,170
Interest rate swaps				–		467,140		–		467,140		–		367,906		–		367,906
Foreign currency forwards				–		500,348		–		500,348		–		344,780		–		344,780
Cross currency swaps				–		98,656		–		98,656		–		86,268		–		86,268
Foreign exchange options				–		1,349		–		1,349		–		2,485		–		2,485
Futures				–		794		–		794		–		19		–		19
		13(c)		–		1,478,726		–		1,478,726		–		1,661,628		–		1,661,628
Investments at fair value through profit of loss		6(a)		2,619,090		608,714		971,530		4,199,334		3,158,519		1,813,915		956,104		5,928,538
Financial assets at fair value through profit of loss		8		768,187		614		–		768,801		971,923		10,647		4,512		987,082
Investments at fair value through other comprehensive income:
Debt Instruments
Corporate bonds				6,103,452		6,874,613		–		12,978,065		5,765,402		9,134,002		–		14,899,404
Government Bonds				7,917,699		768,441		–		8,686,140		8,631,470		784,703		–		9,416,173
Certificates of deposit BCRP				–		7,019,479		–		7,019,479		–		8,337,432		–		8,337,432
Negotiable certificates of deposit				–		607,218		–		607,218		–		642,218		–		642,218
Securitization instruments				–		673,836		–		673,836		–		730,115		–		730,115
Subordinated bonds				176,712		186,714		–		363,426		72,738		148,825		–		221,563
Other instruments				–		121,642		–		121,642		–		133,711		–		133,711
Equity instruments				159,240		160,738		16,377		336,355		175,676		184,712		17,439		377,827
		6(b)		14,357,103		16,412,681		16,377		30,786,161		14,645,286		20,095,718		17,439		34,758,443
Total financial assets				17,744,380		18,500,735		987,907		37,233,022		18,775,728		23,581,908		978,055		43,335,691
Financial liabilities
Derivatives financial instruments:
Currency swaps				–		749,420		–		749,420		–		795,845		–		795,845
Foreign currency forwards				–		288,857		–		288,857		–		387,371		–		387,371
Interest rate swaps				–		278,385		–		278,385		–		333,540		–		333,540
Cross currency swaps				–		24,385		–		24,385		–		4,342		–		4,342
Foreign exchange options				–		3,168		–		3,168		–		3,258		–		3,258
Futures				–		1,450		–		1,450		–		405		–		405
		13(c)		–		1,345,665		–		1,345,665		–		1,524,761		–		1,524,761
Financial liabilities at fair value through profit or loss				–		191,010		–		191,010		–		337,909		–		337,909
Total financial liabilities				–		1,536,675		–		1,536,675		–		1,862,670		–		1,862,670

Carrying Amounts and Fair Values of Financial Instruments which are not Measured at Fair Value

We present below the disclosure of the comparison between the carrying amounts and fair values of the financial instruments, which are not measured at fair value, presented in the consolidated statement of financial position by level of the fair value hierarchy:

	2022										2021
	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		–		34,183,840		–		34,183,840		34,183,840		–		39,320,740		–		39,320,740		39,320,740
Cash collateral, reverse repurchase agreements and securities borrowing		–		1,101,856		–		1,101,856		1,101,856		–		1,766,948		–		1,766,948		1,766,948
Investments at amortized cost		8,849,683		292,335		–		9,142,018		10,445,729		7,618,178		321,495		–		7,939,673		8,265,559
Loans, net		–		140,753,972		–		140,753,972		140,753,972		–		139,120,104		–		139,120,104		139,120,104
Premiums and other policies receivable		–		913,124		–		913,124		913,124		–		921,103		–		921,103		921,103
Accounts receivable from reinsurers and coinsurers		–		1,106,674		–		1,106,674		1,106,674		–		1,198,379		–		1,198,379		1,198,379
Due from customers on banker’s acceptances		–		699,678		–		699,678		699,678		–		532,404		–		532,404		532,404
Other assets		–		1,755,899		–		1,755,899		1,755,899		–		1,809,431		–		1,809,431		1,809,431
Total		8,849,683		180,807,378		–		189,657,061		190,960,772		7,618,178		184,990,604		–		192,608,782		192,934,668
Liabilities
Deposits and obligations		–		147,020,787		–		147,020,787		147,020,787		–		150,340,862		–		150,340,862		149,596,545
Payables on repurchase agreements and securities lending		–		12,966,725		–		12,966,725		12,966,725		–		22,013,866		–		22,013,866		22,013,866
Due to Banks and correspondents and other entities		–		9,012,529		–		9,012,529		8,937,411		–		8,910,930		–		8,910,930		7,212,946
Due from customers on banker’s acceptances		–		699,678		–		699,678		699,678		–		532,404		–		532,404		532,404
Payable to reinsurers and coinsurers		–		420,094		–		420,094		420,094		–		463,825		–		463,825		463,825
Lease liabilities		–		578,074		–		578,074		578,074		–		655,294		–		655,294		655,294
Bond and notes issued		–		16,610,504		–		16,610,504		17,007,194		–		17,344,990		–		17,344,990		17,823,146
Other liabilities		–		4,065,297		–		4,065,297		4,065,297		–		3,845,852		–		3,845,852		3,845,852
Total		–		191,373,688		–		191,373,688		191,695,260		–		204,108,023		–		204,108,023		202,143,878

Value of Net Assets under Administration of Balance Sheet

As of December 31, 2022 and 2021, the value of the net assets under administration off the balance sheet (in millions of soles) is as follows:

	2022		2021
Investment funds and mutual funds		69,264		53,365
Equity managed		35,062		28,768
Pension funds		30,596		40,024
Bank trusts		4,269		5,395
Total		139,191		127,552

Credit Risk Geographical Areawise [Member]

Disclosure of financial risk management [line Items]

Concentration of Financial Instruments Exposed to Credit Risk

As of December 31, 2022 and 2021 financial instruments with exposure to credit risk were distributed by the following geographical areas:

	2022										2021
	At fair value through profit for loss										At fair value through profit for loss
	Held for trading, hedging and others (*)		Designated at inception		Financial assets at amortized cost		At fair value through other comprehensive income investments		Total		Held for trading, hedging and others (*)		Designated at inception		Financial assets at amortized cost		At fair value through other comprehensive income investments		Total
	S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)
Peru		1,257,305		328		169,407,250		19,370,001		190,034,884		2,796,583		17,224		166,930,313		22,822,157		192,566,277
Bolivia		588,484		–		10,808,527		747,078		12,144,089		676,534		–		11,752,887		751,752		13,181,173
United States of America		839,762		450,160		1,799,795		7,332,491		10,422,208		812,625		398,914		6,353,068		7,169,005		14,733,612
Colombia		894,043		6,359		4,073,211		688,313		5,661,926		1,191,192		12,418		2,547,936		752,919		4,504,465
Chile		622,346		–		2,287,020		652,915		3,562,281		416,637		13,638		2,270,868		783,983		3,485,126
Brazil		3,091		–		1,123,155		194,138		1,320,384		19,723		4,512		928,768		171,501		1,124,504
Mexico		16,561		40,811		132,132		385,631		575,135		14,680		94,884		133,350		477,342		720,256
Panama		383		–		402,303		47,551		450,237		–		–		597,310		156,752		754,062
Canada		38,413		–		34,449		103,661		176,523		46,833		321		69,789		131,050		247,993
Europe:
Luxembourg		1,038,393		–		7,020		–		1,045,413		1,121,779		–		7,020		2,236		1,131,035
France		163,577		7,584		28,841		152,041		352,043		256,661		189,157		16,430		237,597		699,845
United Kingdom		93,717		1,978		16,017		193,810		305,522		72,606		14,631		127,018		158,359		372,614
Others in Europe		80,611		10,126		51,758		136,207		278,702		92,442		20,529		270,678		187,004		570,653
Spain		–		–		88,723		28,840		117,563		4,110		–		42,574		41,884		88,568
Switzerland		4		–		175		82,129		82,308		956		372		18,936		110,284		130,548
Netherlands		–		–		31,483		39,038		70,521		907		1,036		27,095		63,135		92,173
Multilateral Organizations (**)		–		–		34,423		80,060		114,483		–		–		–		81,435		81,435
Others		41,370		251,455		634,490		552,257		1,479,572		65,898		219,446		840,628		660,048		1,786,020
Total		5,678,060		768,801		190,960,772		30,786,161		228,193,794		7,590,166		987,082		192,934,668		34,758,443		236,270,359

(*) Includes non-trading investments that did not pass SPPI test.

(**) Comprising instruments issued by Banco de Desarrollo de America Latina  (formerly CAF) and by Banco Interamericano de Desarrollo (BID).

Market Price Change Risk [Member]

Disclosure of financial risk management [line Items]

Results of Sensitivity Analysis Regarding Changes in Interest Rates

The market price sensitivity tests as of December 31, 2021 and 2020 are presented below:

Equity securities
Measured at fair value through other comprehensive income	Change in market prices		2022		2021
	%		S/(000)		S/(000)
Equity securities		+/-10		32,649		37,783
Equity securities		+/-25		81,621		94,457
Equity securities		+/-30		97,946		113,348

Funds
Measured at fair value through profit or loss	Change in market prices		2022		2021
	%		S/(000)		S/(000)
Participation in mutual funds		+/-10		158,478		157,130
Participation in mutual funds		+/-25		396,195		392,825
Participation in mutual funds		+/-30		475,434		471,390
Restricted mutual funds		+/-10		35,132		36,595
Restricted mutual funds		+/-25		87,829		91,489
Restricted mutual funds		+/-30		105,395		109,786
Participation in RAL funds		+/-10		16,778		32,314
Participation in RAL funds		+/-25		41,945		80,785
Participation in RAL funds		+/-30		50,334		96,942
Investment funds		+/-10		91,062		49,837
Investment funds		+/-25		227,654		124,591
Investment funds		+/-30		273,185		149,510
Hedge funds		+/-10		28		17,682
Hedge funds		+/-25		70		44,204
Hedge funds		+/-30		84		53,045
Exchange Trade Funds		+/-10		2,504		10,531
Exchange Trade Funds		+/-25		6,261		26,326
Exchange Trade Funds		+/-30		7,513		31,592

Interest Rate Risk [Member]

Disclosure of financial risk management [line Items]

Concentration of Financial Instruments Exposed to Credit Risk

The table below summarizes the Group’s exposure to interest rate risks. It includes the Group’s financial instruments at carrying amounts, categorized by the earlier of contractual re-pricing or maturity dates, what occurs first:

	2022
	Up to 1 month		1 to 3 months		3 to 12 months		1 to 5 years			More than 5 years			Non-interest bearing			Total
		S/(000)		S/(000)		S/(000)		S/(000)			S/(000)			S/(000)			S/(000)
Assets
Cash and cash collateral, reverse repurchase agreements and securities borrowing		15,413,219		1,339,844		2,635,747		8,875,620			184,437			6,836,829			35,285,696
Investments		6,172,000		2,549,230		3,090,034		10,798,265			18,285,331			337,030			41,231,890
Loans, net		18,513,077		20,548,048		38,917,974		46,932,699			15,367,868			474,306			140,753,972
Financial assets designated at fair value through profit or loss		–		–		–		–			–			768,801			768,801
Premiums and other policies receivable		874,575		24,364		9,056		5,129			–			–			913,124
Accounts receivable from reinsurers and coinsurers		1,056		283,959		816,834		3,576			1,249			–			1,106,674
Other assets (*)		74,712		–		–		–			–			2,531,629			2,606,341
Total assets		41,048,639		24,745,445		45,469,645		66,615,289			33,838,885			10,948,595			222,666,498
Liabilities
Deposits and obligations		36,293,889		13,244,363		24,789,328		61,459,266			8,201,016			3,032,925			147,020,787
Payables from repurchase agreements and securities lending		2,919,374		2,193,016		5,582,701		7,368,172			3,160,922			679,951			21,904,136
Accounts payable to reinsurers and coinsurers		89,444		259,463		50,083		21,104			–			–			420,094
Technical reserves for claims and insurance premiums		307,871		830,562		1,384,568		3,203,832			5,923,438			340,688			11,990,959
Financial liabilities at fair value through profit or loss		–		–		–		–			–			191,010			191,010
Bonds and Notes issued		48,301		73,546		3,186,038		13,330,687			357,352			11,270			17,007,194
Other liabilities (*)		552,438		74,149		2,916		–			–			4,160,258			4,789,761
Equity		–		–		–		–			–			29,579,709			29,579,709
Total liabilities and equity		40,211,317		16,675,099		34,995,634		85,383,061			17,642,728			37,995,811			232,903,650
Risks and contingent commitments
Derivative financial assets		171,485		830,415		450,835		931,208			–			–			2,383,943
Derivative financial liabilities		149,938		46,232		165,610		1,844,839			95,350			–			2,301,969
		21,547		784,183		285,225		(913,631	)		(95,350	)		–			81,974
Marginal gap		858,869		8,854,529		10,759,236		(19,681,403	)		16,100,807			(27,054,216	)		(10,155,178	)
Accumulated gap		858,869		9,713,398		20,472,634		791,231			16,892,038			(10,155,178	)		–

(*) Other assets and other liabilities only include financial accounts.

Investments for trading purposes are not considered (investments at fair value through profit or loss and trading derivatives), because these instruments are part of the trading book and the Value at Risk methodology is used to measure market risks.

	2021
	Up to 1 month		1 to 3 months		3 to 12 months			1 to 5 years			More than 5 years		Non-interest bearing			Total
		S/(000)		S/(000)		S/(000)			S/(000)			S/(000		S/(000)			S/(000)
Assets
Cash and cash collateral, reverse repurchase agreements and securities borrowing		21,200,113		835,072		2,164,640			8,430,195			180,678		8,276,990			41,087,688
Investment		7,712,405		1,134,280		3,825,114			11,313,394			18,660,101		378,708			43,024,002
Loans, net		16,062,211		18,690,355		38,761,519			48,659,533			17,619,885		(673,399	)		139,120,104
Financial assets designated at fair value through profit or loss		–		–		–			–			–		974,664			974,664
Premiums and other policies receivable		882,182		24,565		9,162			5,194			–		–			921,103
Accounts receivable from reinsurers and coinsurers		1,138		315,184		876,680			3,985			1,392		–			1,198,379
Other assets (*)		299,648		49,697		171,495			–			62,519		1,832,448			2,415,807
Total assets		46,157,697		21,049,153		45,808,610			68,412,301			36,524,575		10,789,411			228,741,747
Liabilities
Deposits and obligations		38,932,350		13,763,617		21,336,061			65,231,646			8,349,313		2,727,875			150,340,862
Payables from repurchase agreements and securities lending		2,414,504		2,423,081		9,915,571			11,713,052			2,724,155		36,449			29,226,812
Accounts payable to reinsurers and coinsurers		98,755		286,473		55,296			23,301			–		–			463,825
Technical reserves for claims and insurance premiums		312,617		873,375		1,468,165			3,387,967			6,151,093		341,294			12,534,511
Financial liabilities at fair value through profit or loss		–		–		–			–			–		325,571			325,571
Bonds and Notes issued		70		122,746		553,109			15,935,158			399,728		68,018			17,078,829
Other liabilities (*)		135,776		23,896		2,735			57,390			–		4,163,736			4,383,533
Equity		–		–		–			–			–		27,037,439			27,037,439
Total liabilities and equity		41,894,072		17,493,188		33,330,937			96,348,514			17,624,289		34,700,382			241,391,382
Risks and contingent commitments
Derivative financial assets		221,370		700,009		167,250			486,430			–		–			1,575,059
Derivative financial liabilities		43,164		222,228		223,146			1,001,554			–		–			1,490,092
		178,206		477,781		(55,896	)		(515,124	)		–		–			84,967
Marginal gap		4,441,831		4,033,746		12,421,777			(28,451,337	)		18,900,286		(23,910,971	)		(12,564,668	)
Accumulated gap		4,441,831		8,475,577		20,897,354			(7,553,983	)		11,346,303		(12,564,668	)		–

(*) Other assets and other liabilities only include financial accounts.