XML 42 R14.htm IDEA: XBRL DOCUMENT v3.24.1.u1
LOANS, NET
 12 Months Ended
Dec. 31, 2023
LOANS, NET [Abstract]  
LOANS, NET
7
LOANS, NET

a)
This item consists of the following:

   
2023
    
2022
  
    S/(000)
  S/(000)
Direct loans -
                
Loans
    
115,170,158
      
119,602,591
  
Credit cards
    
7,112,268
      
6,187,910
  
Leasing receivables
    
5,735,973
      
6,174,850
  
Factoring receivables
    
3,431,323
      
3,976,898
  
Discounted notes
    
3,170,887
      
2,982,291
  
Advances and overdrafts in current account
    
321,962
      
219,932
  
Refinanced loans
    
2,407,516
      
2,100,018
  
Total direct loans
    
137,350,087
      
141,244,490
  
                 
Internal overdue loans and under legal collection loans
    
6,133,167
      
5,945,779
  
     
143,483,254
      
147,190,269
  
Add (less) -
                
Accrued interest
    
1,492,797
      
1,436,105
  
Total direct loans
    
144,976,051
      
148,626,374
  
Allowance for loan losses (c)
    
(8,277,916
)
    
(7,872,402
)
Total direct loans, net
    
136,698,135
      
140,753,972
  

The loan portfolio is partially backed by guarantees received from clients, consisting mostly of mortgages, bonds, securities, industrial pledges and commercial pledges. Additionally, the Bank has participated in the Reactiva Perú I and II Program (liquidity program launched by the Peruvian Government in 2020, aimed at providing a quick and effective response to the liquidity needs that companies faced due to the impact of COVID-19). 19, ensure continuity in the payment chain).

As of December 31, 2023, the direct credits of the Reactiva Perú program amount to S/2,877.2 million and the credits of the FAE-MYPE program amount to S/3.6 million and S/10.1 million for FAE-MYPE 1 and FAE-MYPE 2, respectively. As of December 31, 2022, the direct credits of the Reactiva Perú program amounted to S/8,877.2 million and the credits of the FAE-MYPE program to S/3.9 million and S/83.6 million for FAE-MYPE 1 and FAE-MYPE 2, respectively.

  b)
As of December 31, 2023, and 2022, the composition of the gross credit balance is as follows:

   
2023
    
2022
  
    S/(000)

  S/(000)

                 
Direct loans, Note7(a)
    
143,483,254
      
147,190,269
  
Indirect loans, Note 18(a)
    
20,051,615
      
20,928,055
  
Due from customers on banker’s acceptances
    
412,401
      
699,678
  
Total
    
163,947,270
      
168,818,002
  

Below is the movement of the gross balance of the loan portfolio, direct, indirect and banker’s acceptances by phase for the periods 2023 and 2022:

Stage 1
                                                            
Loans by class
  
Balance as of
December 31,
2022
    
Transfer to
Stage 2
    
Transfer to
Stage 3
    
Transfer from
Stage 2
    
Transfer from
Stage 3
    
New loans,
liquidation and
write-offs, net
    
Transfers
between classes
of loans
    
Sale of loan
portafolio
    
Exchange
differences and
others
    
Balance as of
December 31,
2023
  
      S/(000)     S/(000)     S/(000)     S/(000)     S/(000)     S/(000)     S/(000)     S/(000)     S/(000)     S/(000)
Commercial loans
    
86,190,457
      
(7,735,234
)
    
(390,080
)
    
6,837,244
      
113,232
      
865,954
      
(957,315
)
    
–
      
(995,471
)
    
83,928,787
  
Residential mortgage loans
    
18,640,432
      
(3,890,376
)
    
(87,230
)
    
2,834,608
      
68,812
      
–
      
1,680,893
      
–
      
(97,070
)
    
19,150,069
  
Micro-business loans
    
13,425,653
      
(10,427,681
)
    
(193,852
)
    
4,537,627
      
15,883
      
(865,954
)
    
9,439,846
      
–
      
134,324
      
16,065,846
  
Consumer loans
    
15,386,935
      
(6,597,935
)
    
(466,950
)
    
3,352,518
      
68,103
      
–
      
3,555,141
      
–
      
(63,752
)
    
15,234,060
  
Total
    
133,643,477
      
(28,651,226
)
    
(1,138,112
)
    
17,561,997
      
266,030
      
–
      
13,718,565
      
–
      
(1,021,969
)
    
134,378,762
  

Stage 2
                                                            
Loans by class
  
Balance as of
December 31,
2022
    
Transfer to
Stage 1
    
Transfer to
Stage 3
    
Transfer from
Stage 1
    
Transfer from
Stage 3
    
New loans,
liquidation and
write-offs, net
    
Transfers
between classes
of loans
    
Sale of loan
portfolio
    
Exchange
differences and
others
    
Balance as of
December 31,
2023
  
      S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
Commercial loans
    
8,850,173
      
(6,837,244
)
    
(1,901,832
)
    
7,735,234
      
149,554
      
505,667
      
(2,566,703
)
    
–
      
2,348
      
5,937,197
  
Residential mortgage loans
    
3,207,081
      
(2,834,608
)
    
(498,299
)
    
3,890,376
      
109,625
      
–
      
(301,840
)
    
–
      
(14,233
)
    
3,558,102
  
Micro-business loans
    
7,266,464
      
(4,537,627
)
    
(2,151,478
)
    
10,427,681
      
104,183
      
(505,667
)
    
(6,021,879
)
    
–
      
48,637
      
4,630,314
  
Consumer loans
    
3,471,604
      
(3,352,518
)
    
(1,888,270
)
    
6,597,935
      
66,491
      
–
      
(1,552,101
)
    
–
      
(25,687
)
    
3,317,454
  
Total
    
22,795,322
      
(17,561,997
)
    
(6,439,879
)
    
28,651,226
      
429,853
      
–
      
(10,442,523
)
    
–
      
11,065
      
17,443,067
  

Stage 3
                                                            
Loans by class
  
Balance as of
December 31,
2022
    
Transfer to
Stage 1
    
Transfer to
Stage 2
    
Transfer from
Stage 1
    
Transfer from
Stage 2
    
New loans,
liquidation and
write-offs, net
    
Transfers
between classes
of loans
    
Sale of loan
portfolio
    
Exchange
differences and
others
    
Balance as of
December 31,
2023
  
 
     S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
Commercial loans
    
8,150,200
      
(113,232
)
    
(149,554
)
    
390,080
      
1,901,832
      
(86,176
)
    
(2,325,958
)
    
(377,652
)
    
(82,364
)
    
7,307,176
  
Residential mortgage loans
    
1,388,061
      
(68,812
)
    
(109,625
)
    
87,230
      
498,299
      
–
      
(248,110
)
    
(69,258
)
    
(9,037
)
    
1,468,748
  
Micro-business loans
    
1,741,559
      
(15,883
)
    
(104,183
)
    
193,852
      
2,151,478
      
86,176
      
(2,231,402
)
    
(21,388
)
    
2,621
      
1,802,830
  
Consumer loans
    
1,099,383
      
(68,103
)
    
(66,491
)
    
466,950
      
1,888,270
      
–
      
(1,763,126
)
    
(21,689
)
    
11,493
      
1,546,687
  
Total
    
12,379,203
      
(266,030
)
    
(429,853
)
    
1,138,112
      
6,439,879
      
–
      
(6,568,596
)
    
(489,987
)
    
(77,287
)
    
12,125,441
  

Consolidated 3 Stages
                                          
Loans by class
  
Balance as of
December 31,
2022
    
Written off
and forgivens
    
New loans and
liquidation, net
    
Transfers
between classes
of loans
    
Sale of loan
portfolio
    
Exchange
differences and
others
    
Balance as of
December 31,
2023
  
 
     S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
Commercial loans
    
103,190,830
      
(369,307
)
    
1,285,445
      
(5,480,669
)
    
(377,652
)
    
(1,075,487
)
    
97,173,160
  
Residential mortgage loans
    
23,235,574
      
(25,205
)
    
–
      
1,156,148
      
(69,258
)
    
(120,340
)
    
24,176,919
  
Micro-business loans
    
22,433,676
      
(1,519,522
)
    
(1,285,445
)
    
2,706,087
      
(21,388
)
    
185,582
      
22,498,990
  
Consumer loans
    
19,957,922
      
(1,410,633
)
    
–
      
1,650,547
      
(21,689
)
    
(77,946
)
    
20,098,201
  
Total
    
168,818,002
      
(3,324,667
)
    
–
      
32,113
      
(489,987
)
    
(1,088,191
)
    
163,947,270
  

Stage 1
                                                            
Loans by class
  
Balance as of
December 31,
2021
    
Transfer to
Stage 2
    
Transfer to
Stage 3
    
Transfer from
Stage 2
    
Transfer from
Stage 3
    
New loans,
liquidation and
write-offs, net
    
Transfers
between classes
of loans
    
Sale of loan
portfolio
    
Exchange
differences and
others
    
Balance as of
December 31,
2022
  
      S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
Commercial loans
    
90,281,463
      
(10,689,388
)
    
(782,333
)
    
7,640,908
      
356,896
      
(21,784
)
    
1,067,360
      
–
      
(1,662,665
)
    
86,190,457
  
Residential mortgage loans
    
18,702,189
      
(4,019,065
)
    
(84,000
)
    
1,995,000
      
27,176
      
7,496
      
2,247,060
      
–
      
(235,424
)
    
18,640,432
  
Micro-business loans
    
10,803,696
      
(11,398,414
)
    
(235,229
)
    
4,142,176
      
95,327
      
(739,253
)
    
10,960,618
      
–
      
(203,268
)
    
13,425,653
  
Consumer loans
    
11,993,823
      
(6,578,251
)
    
(300,120
)
    
3,313,501
      
58,137
      
753,541
      
6,176,605
      
–
      
(30,301
)
    
15,386,935
  
Total
    
131,781,171
      
(32,685,118
)
    
(1,401,682
)
    
17,091,585
      
537,536
      
–
      
20,451,643
      
–
      
(2,131,658
)
    
133,643,477
  

Stage 2
                                                            
Loans by class
  
Balance as of
December 31,
2021
    
Transfer to
Stage 1
    
Transfer to
Stage 3
    
Transfer from
Stage 1
    
Transfer from
Stage 3
    
New loans,
liquidation and
write-offs, net
    
Transfers
between classes
of loans
    
Sale of loan
portfolio
    
Exchange
differences and
others
    
Balance as of
December 31,
2022
  
      S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
Commercial loans
    
11,342,409
      
(7,640,908
)
    
(2,586,811
)
    
10,689,388
      
434,550
      
614,296
      
(3,906,923
)
    
–
      
(95,828
)
    
8,850,173
  
Residential mortgage loans
    
1,758,125
      
(1,995,000
)
    
(292,259
)
    
4,019,065
      
23,225
      
427
      
(286,590
)
    
–
      
(19,912
)
    
3,207,081
  
Micro-business loans
    
8,927,358
      
(4,142,176
)
    
(1,627,919
)
    
11,398,414
      
93,396
      
(599,450
)
    
(6,722,150
)
    
–
      
(61,009
)
    
7,266,464
  
Consumer loans
    
2,921,075
      
(3,313,501
)
    
(1,025,878
)
    
6,578,251
      
71,775
      
(15,273
)
    
(1,741,617
)
    
–
      
(3,228
)
    
3,471,604
  
Total
    
24,948,967
      
(17,091,585
)
    
(5,532,867
)
    
32,685,118
      
622,946
      
–
      
(12,657,280
)
    
–
      
(179,977
)
    
22,795,322
  

Stage 3
                                                            
Loans by class
  
Balance as of
December 31,
2021
    
Transfer to
Stage 1
    
Transfer to
Stage 2
    
Transfer from
Stage 1
    
Transfer from
Stage 2
    
New loans,
liquidation and
write-offs, net
    
Transfers
between classes
of loans
    
Sale of loan
portfolio
    
Exchange
differences and
others
    
Balance as of
December 31,
2022
  
      S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
Commercial loans
    
8,756,743
      
(356,896
)
    
(434,550
)
    
782,333
      
2,586,811
      
(95,866
)
    
(2,934,746
)
    
(7,803
)
    
(145,826
)
    
8,150,200
  
Residential mortgage loans
    
1,371,146
      
(27,176
)
    
(23,225
)
    
84,000
      
292,259
      
–
      
(283,888
)
    
(2,442
)
    
(22,613
)
    
1,388,061
  
Micro-business loans
    
1,906,210
      
(95,327
)
    
(93,396
)
    
235,229
      
1,627,919
      
85,153
      
(1,905,488
)
    
(909
)
    
(17,832
)
    
1,741,559
  
Consumer loans
    
1,099,329
      
(58,137
)
    
(71,775
)
    
300,120
      
1,025,878
      
10,713
      
(1,205,204
)
    
(304
)
    
(1,237
)
    
1,099,383
  
Total
    
13,133,428
      
(537,536
)
    
(622,946
)
    
1,401,682
      
5,532,867
      
–
      
(6,329,326
)
    
(11,458
)
    
(187,508
)
    
12,379,203
  

Consolidated 3 Stages
                                          
Loans by class
  
Balance as of
December 31,
2021
    
Written off
and forgivens
    
New loans and
liquidation, net
    
Transfers
between classes
of loans
    
Sale of loan
portfolio
    
Exchange
differences and
others
    
Balance as of
December 31,
2022
  
      S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
Commercial loans
    
110,380,615
      
(421,522
)
    
496,646
      
(5,352,787
)
    
(7,803
)
    
(1,904,319
)
    
103,190,830
  
Residential mortgage loans
    
21,831,460
      
(33,940
)
    
7,923
      
1,710,522
      
(2,442
)
    
(277,949
)
    
23,235,574
  
Micro-business loans
    
21,637,264
      
(1,164,440
)
    
(1,253,550
)
    
3,497,420
      
(909
)
    
(282,109
)
    
22,433,676
  
Consumer loans
    
16,014,227
      
(955,356
)
    
748,981
      
4,185,140
      
(304
)
    
(34,766
)
    
19,957,922
  
Total
    
169,863,566
      
(2,575,258
)
    
–
      
4,040,295
      
(11,458
)
    
(2,499,143
)
    
168,818,002
  

  c)
As of December 31, 2023, and 2022, the allowance for loan losses for direct loans, indirect loans and due from customers on banker’s acceptances, was determined under the expected credit loss model as established in IFRS 9. The movement in the allowance for loan losses is shown below for direct loans and indirect loans and due from customers on banker’s acceptances:

Stage 1
                                                                
Loans by class
  
Balance as of
December 31,
2022
    
Transfer to
Stage 2
    
Transfer to
Stage 3
    
Transfer
from
Stage 2
    
Transfer
from
Stage 3
    
New loans, liquidation and write-
offs, net
    
Changes
in PD,
LGD and EAD (*)
    
Transfers
between
classes of
loans
    
Sale of loan
portafolio
    
Exchange
differences
and others
    
Balance as of
December
31, 2023
  
      S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
Commercial loans
    
571,899
      
(139,043
)
    
(9,218
)
    
218,944
      
33,333
      
23,792
       (162,840 )    
20,026
      
–
      
(4,761
)
    
552,132
  
Residential mortgage loans
    
83,536
      
(16,389
)
    
(705
)
    
36,384
      
36,223
      
9,628
       (94,942 )    
-
      
–
      
367
      
54,102
  
Micro-business loans
    
315,960
      
(305,106
)
    
(7,484
)
    
137,210
      
9,520
      
420,469
       (205,832 )    
(20,026
)
    
–
      
3,413
      
348,124
  
Consumer loans
    
300,322
      
(257,482
)
    
(15,591
)
    
173,612
      
61,421
      
60,661
       (35,337 )    
-
      
–
      
(2,515
)
    
285,091
  
Total
    
1,271,717
      
(718,020
)
    
(32,998
)
    
566,150
      
140,497
      
514,550
       (498,951 )    
–
      
–
      
(3,496
)
    
1,239,449
  

Stage 2                                                                  
Loans by class  
Balance as of
December 31,
2022
    
Transfer to
Stage 1
    
Transfer to
Stage 3
    
Transfer
from
Stage 1
    
Transfer
from
Stage 3
    
New loans, liquidation and write-
offs, net
    
Changes
in PD,
LGD and
EAD (*)
    
Transfers
between
classes of
loans
    
Sale of loan
portafolio
    
Exchange
differences
and others
    
Balance as of
December
31, 2023
  
      S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
Commercial loans
    
493,257
      
(218,944
)
    
(196,971
)
    
139,043
      
39,898
      
(119,049
)
     208,014      
52,764
      
–
      
1,524
      
399,536
  
Residential mortgage loans
    
126,832
      
(36,384
)
    
(41,369
)
    
16,389
      
58,782
      
(11,555
)
     9,120      
-
      
–
      
(557
)
    
121,258
  
Micro-business loans
    
540,913
      
(137,210
)
    
(354,473
)
    
305,106
      
64,946
      
(351,848
)
     411,980      
(52,764
)
    
–
      
4,632
      
431,282
  
Consumer loans
    
439,574
      
(173,612
)
    
(576,535
)
    
257,482
      
56,985
      
(144,372
)
     581,442      
-
      
–
      
(5,814
)
    
435,150
  
Total
    
1,600,576
      
(566,150
)
    
(1,169,348
)
    
718,020
      
220,611
      
(626,824
)
     1,210,556      
–
      
–
      
(215
)
    
1,387,226
  

Stage 3
                                                                
Loans by class
  
Balance as of
December 31,
2022
    
Transfer to
Stage 1
    
Transfer to
Stage 2
    
Transfer
from
Stage 1
    
Transfer
from
Stage 2
    
New loans, liquidation and write-
offs, net
    
Changes
in PD,
LGD and
EAD (*)
    
Transfers
between
classes of
loans
    
Sale of loan
portafolio
    
Exchange
differences
and others
    
Balance as of
December
31, 2023
  
      S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
Commercial loans
    
2,846,887
      
(33,333
)
    
(39,898
)
    
9,218
      
196,971
      
(632,292
)
     630,339      
(48,356
)
    
(269,312
)
    
(28,670
)
    
2,631,554
  
Residential mortgage loans
    
757,780
      
(36,223
)
    
(58,782
)
    
705
      
41,369
      
(149,583
)
     276,611      
-
      
(40,223
)
    
(6,393
)
    
785,261
  
Micro-business loans
    
1,113,154
      
(9,520
)
    
(64,946
)
    
7,484
      
354,473
      
(1,779,826
)
     1,635,614      
48,356
      
(17,486
)
    
779
      
1,288,082
  
Consumer loans
    
940,872
      
(61,421
)
    
(56,985
)
    
15,591
      
576,535
      
(1,604,579
)
     1,520,266      
-
      
(16,625
)
    
719
      
1,314,373
  
Total
    
5,658,693
      
(140,497
)
    
(220,611
)
    
32,998
      
1,169,348
      
(4,166,280
)
     4,062,830      
–
      
(343,646
)
    
(33,565
)
    
6,019,270
  

Consolidated 3 Stages
               Credit loss for the period
                          
   
Balance as of
December
31, 2022
     Write-off and forgiven loan portfolio    
New loans, liquidation and write-
offs, net
    
Changes
in PD,
LGD and
EAD (*)
    
Transfers
between
classes of
loans
    
Sale of loan
portafolio
    
Exchange
differences
and others
    
Balance as of
December
31, 2023 (**)
  
 
Loans by class
      S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
Commercial loans
    
3,912,043
      
(384,266
)
    
(343,283
)
     675,513      
24,434
      
(269,312
)
    
(31,907
)
    
3,583,222
  
Residential mortgage loans
    
968,148
      
(28,178
)
    
(123,332
)
     190,789      
-
      
(40,223
)
    
(6,583
)
    
960,621
  
Micro-business loans
    
1,970,027
      
(1,563,052
)
    
(148,153
)
     1,841,762      
(24,434
)
    
(17,486
)
    
8,824
      
2,067,488
  
Consumer loans
    
1,680,768
      
(1,485,766
)
    
(202,524
)
     2,066,371      
-
      
(16,625
)
    
(7,610
)
    
2,034,614
  
Total
    
8,530,986
      
(3,461,262
)
    
(817,292
)
     4,774,435      
–
      
(343,646
)
    
(37,276
)
    
8,645,945
  

Stage 1
  
                                                             
Loans by class
  
Balance as of
December 31,
2021
    
Transfer to
Stage 2
    
Transfer to
Stage 3
    
Transfer
from
Stage 2
    
Transfer
from
Stage 3
    
New loans, liquidation and write-
offs, net
    
Changes
in PD,
LGD and
EAD (*)
    
Transfers
between
classes of
loans
    
Sale of
portfolio
    
Exchange
differences
and others
    
Balance as of
December
31, 2022
  
      S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
Commercial loans
    
607,880
      
(167,527
)
    
(16,135
)
    
168,102
      
41,729
      
86,676
       (120,997 )    
(12,101
)
    
–
      
(15,728
)
    
571,899
  
Residential mortgage loans
    
76,706
      
(27,467
)
    
(778
)
    
52,161
      
15,910
      
10,256
       (43,766 )    
2,274
      
–
      
(1,760
)
    
83,536
  
Micro-business loans
    
434,162
      
(372,672
)
    
(14,219
)
    
152,072
      
17,632
      
471,157
       (352,379 )    
(14,695
)
    
–
      
(5,098
)
    
315,960
  
Consumer loans
    
317,597
      
(195,412
)
    
(9,065
)
    
190,973
      
54,506
      
340,981
       (419,651 )    
24,522
      
–
      
(4,129
)
    
300,322
  
Total
    
1,436,345
      
(763,078
)
    
(40,197
)
    
563,308
      
129,777
      
909,070
       (936,793 )    
–
      
–
      
(26,715
)
    
1,271,717
  

Stage 2                                                                  

 
Balance as of
December 31,
2021
    
Transfer to
Stage 1
    
Transfer to
Stage 3
    
Transfer
from
Stage 1
    
Transfer
from
Stage 3
    
New loans, liquidation and write-
offs, net
    
Changes
in PD,
LGD and
EAD (*)
    
Transfers
between
classes of
loans
    
Sale of
portfolio
    
Exchange
differences
and others
    
Balance as of
December
31, 2022
  

Loans by class
      S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
Commercial loans
    
652,781
      
(168,102
)
    
(225,459
)
    
167,527
      
61,995
      
(218,631
)
     167,455      
58,569
      
–
      
(2,878
)
    
493,257
  
Residential mortgage loans
    
97,388
      
(52,161
)
    
(21,869
)
    
27,467
      
13,888
      
(11,992
)
     76,064      
75
      
–
      
(2,028
)
    
126,832
  
Micro-business loans
    
625,255
      
(152,072
)
    
(274,896
)
    
372,672
      
34,163
      
(384,376
)
     381,863      
(56,841
)
    
–
      
(4,855
)
    
540,913
  
Consumer loans
    
637,763
      
(190,973
)
    
(312,930
)
    
195,412
      
62,043
      
(132,340
)
     183,112      
(1,803
)
    
–
      
(710
)
    
439,574
  
Total
    
2,013,187
      
(563,308
)
    
(835,154
)
    
763,078
      
172,089
      
(747,339
)
     808,494      
–
      
–
      
(10,471
)
    
1,600,576
  

Stage 3
  
                                                             

 
Balance as of
December 31,
2021
    
Transfer to
Stage 1
    
Transfer to
Stage 2
    
Transfer
from
Stage 1
    
Transfer
from
Stage 2
    
New loans, liquidation and write-
offs, net
    
Changes
in PD,
LGD and
EAD (*)
    
Transfers
between
classes of
loans
    
Sale of
portfolio
    
Exchange
differences
and others
    
Balance as of
December
31, 2022
  
 
Loans by class
      S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
Commercial loans
    
2,730,792
      
(41,729
)
    
(61,995
)
    
16,135
      
225,459
      
(734,370
)
     814,163      
(51,601
)
    
(7,590
)
    
(42,377
)
    
2,846,887
  
Residential mortgage loans
    
800,639
      
(15,910
)
    
(13,888
)
    
778
      
21,869
      
(163,673
)
     143,014      
–
      
(1,671
)
    
(13,378
)
    
757,780
  
Micro-business loans
    
1,148,632
      
(17,632
)
    
(34,163
)
    
14,219
      
274,896
      
(1,351,918
)
     1,048,630      
46,447
      
(830
)
    
(15,127
)
    
1,113,154
  
Consumer loans
    
941,416
      
(54,506
)
    
(62,043
)
    
9,065
      
312,930
      
(1,028,864
)
     822,883      
5,154
      
(249
)
    
(4,914
)
    
940,872
  
Total
    
5,621,479
      
(129,777
)
    
(172,089
)
    
40,197
      
835,154
      
(3,278,825
)
     2,828,690      
–
      
(10,340
)
    
(75,796
)
    
5,658,693
  

Consolidated 3 Stages
               Credit loss for the period
                          
  
Loans by class
  
Balance as of
December
31, 2021
     Write-off loan portfolio    
New loans, liquidation and write-
offs, net
    
Changes
in PD,
LGD and
EAD (*)
    
Transfers
between
classes of
loans
    
Sale of
portfolio
    
Exchange
differences
and others
    
Balance as of
December
31, 2022 (**)
  
      S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
    S/(000)
Commercial loans
    
3,991,453
      
(421,319
)
    
(445,006
)
     860,621      
(5,133
)
    
(7,590
)
    
(60,983
)
    
3,912,043
  
Residential mortgage loans
    
974,733
      
(33,960
)
    
(131,449
)
     175,312      
2,349
      
(1,671
)
    
(17,166
)
    
968,148
  
Micro-business loans
    
2,208,049
      
(1,164,678
)
    
(100,459
)
     1,078,114      
(25,089
)
    
(830
)
    
(25,080
)
    
1,970,027
  
Consumer loans
    
1,896,776
      
(955,301
)
    
135,078
       586,344      
27,873
      
(249
)
    
(9,753
)
    
1,680,768
  
Total
    
9,071,011
      
(2,575,258
)
    
(541,836
)
     2,700,391      
–
      
(10,340
)
    
(112,982
)
    
8,530,986
  



(*)
The movement includes the following effects:

 
(i)
calibrations to the PD, LGD and EAD models;
 
(ii)
updating of macroeconomic models and projections;
 
(iii)
increase or decrease in credit risk due to phase changes;
 
(iv)
increase or decrease in the credit risk inherent to the loans that remain in the same phase.


(**)
The movement of the credit loss provision for the 2023 period includes the provision for direct and indirect credits and bank acceptances for approximately S/8,277.9 million and S/368.0 million, respectively (S/7,872.4 million and S/658.6 million , respectively, as of December 31, 2022). The expected loss for indirect credits is included in the “Other liabilities” caption of the consolidated statement of financial position, note 12(a).

In Management’s opinion, the credit loss provision for loans recorded as of December 31, 2023 and 2022, has been determined in accordance with IFRS 9 and is sufficient to cover losses in the loan portfolio.

Gross balance of the portfolio of direct and indirect loans and bank acceptances:

As of December 31, 2023, the gross balance of the loan portfolio decreased compared to the end of December 2022. The decrease was mainly due to:

 
(i)
the amortization of Reactiva Perú loans within BCP’s commercial credit portfolio,
 
(ii)
the write-offs of consumer loans from BCP and loans to small and micro businesses from Mibanco Perú and BCP,
 
(iii)
to a lesser extent, the fall in the PEN/USD exchange rate.

The above effects were partially offset, among other things, by the disbursements of general loans from BCP and loans to small and micro businesses from Mibanco Perú.

Credit loss provision for direct and indirect credits and bank acceptances:

As of December 31, 2023, the credit loss provision of the loan portfolio increased compared to the end of December 2022. This growth was mainly due to:

 
(i)
the deterioration of BCP’s consumer loan portfolio, which was reflected in the migrations to stage 3, and which was generated, among other things, by greater client leverage within a macroeconomic context of high inflation,
 
(ii)
the migration to stage 3 of loans to small and micro businesses from Mibanco Perú,
 
(iii)
the record of the expected impact of the El Niño Phenomenon on provisions.

The above effects were partially offset, among other things, by the payments, recoveries and improvement in the credit profile of specific companies of BCP’s Wholesale Banking, and, in addition, by the write-offs of BCP and Mibanco Perú.

Comments on the calibrations carried out on the internal credit risk models are found in greater detail in note 30.1(c).


 d)
Interest rates on loans are set considering the rates prevailing in the markets where the Group’s subsidiaries operate.


e)
A portion of the loan portfolio is collateralized with guarantees received from customers, which mainly consist of mortgages, trust assignments, securities and industrial and mercantile pledges.


f)
The following table presents the gross direct loan portfolio as of December 31, 2023, and 2022 by maturity based on the remaining period to the payment due date:

   
2023
    
2022
  
    S/(000) S/(000)
Outstanding loans -
                
From 1 to 3 months
    
30,957,809
      
34,192,006
  
From 3 months to 1 year     36,107,936       35,338,442  
From 1 to 3 years
    
29,251,425
      
29,576,654
  
From 3 to 5 years
    
10,906,617
      
11,572,896
  
From 5 to 15 years     27,995,370       27,144,332  
More than 15 years
    
2,130,930
      
3,420,160
  
     
137,350,087
      
141,244,490
  
                 
Internal overdue loans -
                
Overdue up to 90 days
    
1,459,603
      
1,264,436
  
Over 90 days
    
4,673,564
      
4,681,343
  
     
6,133,167
      
5,945,779
  
                 
Total
    
143,483,254
      
147,190,269
  

See credit risk analysis in Note 30.1