DEPOSITS AND OBLIGATIONS

12 Months Ended

Dec. 31, 2024

13	DEPOSITS AND OBLIGATIONS

This item consists of the following:

	2024		2023
	S/(000)		S/(000)

Saving deposits		59,757,825		52,375,813
Demand deposits		52,590,952		48,229,323
Time deposits (c)		44,116,438		41,290,011
Severance indemnity deposits		2,996,020		3,185,603
Bank’s negotiable certificates		1,101,347		1,194,653
Total		160,562,582		146,275,403
Interest payable		1,279,484		1,429,591
Total		161,842,066		147,704,994

The Group has established a policy to remunerate demand deposits and savings accounts according to a growing interest rate scale, based on the average balance maintained in those accounts; on the other hand, according to its policy, balances that are lower than a specified amount for each type of account do not bear interest. Also, time deposits earn interest at market rates.

Interest rates are determined by the Group considering the interest rates prevailing in the market in which each of the Group’s subsidiaries operates.

The amounts of non-interest-bearing and interest-bearing deposits and obligations without consider accrued interest are presented below:

	2024		2023
	S/(000)		S/(000)

Non-interest-bearing -
In Peru		42,057,905		37,627,288
In other countries		5,102,286		4,607,210
		47,160,191		42,234,498

Interest-bearing -
In Peru		104,085,586		94,452,833
In other countries		9,316,805		9,588,072
		113,402,391		104,040,905
Total		160,562,582		146,275,403

The balance of time deposits classified by maturity is as follows:

	2024		2023
	S/(000)		S/(000)

Up to 3 months		27,772,950		23,975,997
From 3 months to 1 year		10,886,485		11,420,212
From 1 to 3 years		1,754,547		2,472,740
From 3 to 5 years		478,235		327,136
More than 5 years		3,224,221		3,093,926
Total		44,116,438		41,290,011

In Management’s opinion the Group’s deposits and obligations are diversified with no significant concentrations as of December 31, 2024, and 2023.

As of December 31, 2024, and 2023, the balance of deposits and obligations, guaranteed by the Peruvian “Fondo de Seguro de Depositos” (Deposit Insurance Fund) amounts to approximately S/59,414.0 million and S/51,875.6 million, respectively. At said dates, maximum amount of coverage per depositor recognized by “Fondo de Seguro de Depositos” totaled S/121,600 and S/123,810.0, respectively.

As of December 31, 2024 and 2023, the balance of deposits and obligations of Banco de Crédito Bolivia guaranteed by the “Fondo de Protección al Ahorrista” (FPAH, for its Spanish acronym) of Bolivia, amounts to Bs1,385.6 million (equivalent to S/760.4 million) and Bs1,409.9 million (equivalent to S/762.3 million), respectively. At said dates, maximum amount of coverage per depositor recognized by “FPAH” totaled Bs102,593.9 and Bs90,240.3 (equivalent to S/56,300.4 and S/48,790.4, respectively).

As of December 31, 2024, and 2023, the balance of deposits and obligations of Mibanco Colombia guaranteed by the “Fondo de Garantía de las Instituciones Financieras” (FOGAFIN, for its Spanish acronym) of Colombia, amounts to $59,612.9 million (equivalent to S/50.9 million) and $53,049.4 million (equivalent to S/50.8 million), respectively. At said dates, maximum amount of coverage per depositor recognized by “Fogafín” totaled $50.0 million (equivalent to S/42,700.0 and S/47,850.0, respectively).