CASH COLLATERAL, REVERSE REPURCHASE AGREEMENTS AND SECURITIES BORROWING AND PAYABLES FROM REPURCHASE AGREEMENTS AND SECURITIES LENDING (Tables)

12 Months Ended

Dec. 31, 2024

CASH COLLATERAL, REVERSE REPURCHASE AGREEMENTS AND SECURITIES BORROWING AND PAYABLES FROM REPURCHASE AGREEMENTS AND SECURITIES LENDING [Abstract]

Composition of Cash Collateral, Reverse Repurchase Agreements and Securities Borrowing

a) We present below the composition of cash collateral, reverse repurchase agreements and securities borrowing:

	2024		2023
	S/(000)		S/(000)
Cash collateral on repurchase agreements and security lendings (i)		362,723		607,639
Reverse repurchase agreement and security borrowings (ii)		670,454		719,722
Receivables for short sales		–		83,286
Total		1,033,177		1,410,647

(i)
As of December 31, 2024, the balance mainly comprises cash guarantees in U.S. Dollar and Bolivianos. Cash guarantees were delivered to the Central Bank of Bolivia, received in Bolivianos and U.S. Dollar for the equivalent of S/343.6 million (S/590.7 million, as of December 31, 2023).
The guarantee fund granted accrues interest at an average annual effective rate based on market rates. The liability related to this transaction is presented in “Accounts payable under repurchase agreements and securities lending” in the consolidated statement of financial position, see paragraph (c) below.

Information about Reverse Repurchase Agreements and Security Borrowings, Financial Instrument Serves as Collateral

(ii) Credicorp, through its subsidiaries, provides financing to its customers through reverse repurchase agreements and securities borrowing, in which a financial instrument serves as collateral. Details of said transactions are as follows:

		2024												2023
	Currency	Average interest rate		Up to 3 days		From 3 to 30 days		More than 30 days		Carrying amount		Fair value of underlying assets		Average interest rate		Up to 3 days		From 3 to 30 days		More than 30 days		Carrying amount		Fair value of underlying assets
		%		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		%		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)
Instruments issued by the Colombian Government	Colombian peso		8.09		174,598		274,114		154,743		603,455		594,096		6.09		–		603,441		82,075		685,516		687,878
Other instruments	Several		2.64		34,065		9,562		23,372		66,999		66,993		0.96		6,722		25,585		1,899		34,206		34,223
					208,663		283,676		178,115		670,454		661,089				6,722		629,026		83,974		719,722		722,101

Information about Payables from Repurchase Agreements and Security Lending

b) Credicorp, through its subsidiaries, obtains financing through “Payables from repurchase agreements and securities lending” by selling financial instruments and committing to repurchase them at future dates, including interest at a fixed rate. The details of said transactions are as follows:

		2024							2023
	Currency	Average interest rate		Up to 3 days	From 3 to 30 days	More than 30 days	Carrying amount	Fair value of underlying assets	Average interest rate		Up to 3 days	From 3 to 30 days	More than 30 days	Carrying amount	Fair value of underlying assets
		%		S/(000)	S/(000	S/(000)	S/(000)	S/(000)	%		S/(000)	S/(000)	S/(000)	S/(000)	S/(000)
Debt instruments, cash and credit portfolio (c)			–	281,977	–	7,547,457	7,829,434	8,155,962		–	–	9,582	8,596,559	8,606,141	9,268,346
Instruments issued by the Colombian Government	Colombian Pesos		4.68	127,103	721,207	–	848,310	848,310		6.22	–	1,410,328	–	1,410,328	1,408,486
Instruments issued by the Chilean Government	Chilean pesos		0.46	83,375	–	–	83,375	83,398		0.75	57,066	–	–	57,066	57,095
Other instruments			5.11	46,843	4,976	247,772	299,591	299,603		6.91	41,056	53,836	–	94,892	94,659
				539,298	726,183	7,795,229	9,060,710	9,387,273			98,122	1,473,746	8,596,559	10,168,427	10,828,586

Information about Repurchase Agreement Secured with Cash, Investments and Loans

c) As of December 31, 2024, and 2023, the Group has repurchased agreements secured with: (i) cash, see Note 4(a) and (ii) investments, see Note 6(b). This item consists of the following:

		2024				2023
			Carrying				Carrying
Counterparties	Currency	Maturity	amount		Collateral	Maturity	amount		Collateral
				S/(000)				S/(000)
BCRP	Sol	January 2025 / September 2025		6,115,254	Investments	January 2024 / September 2025		5,436,564	Investments and credit portfolio
BCRP -  Reactiva Perú (*)	Sol	May 2025 / December 2025		459,775	Loans guaranteed by National Government	May 2024 / December 2025		1,779,934	Loans guaranteed by National Government
Banco Central de Bolivia	Boliviano	March 2026		343,571	Cash	December 2024 / March 2025		590,715	Cash
Banco de la República de Colombia	Colombian Peso	January 2025		281,837	Cash	December 2024 / March 2025		9,569	Cash
Natixis S.A.	Sol	August 2028		270,000	Investments	August 2028		270,000	Investments
Citigroup Global Markets Limited	U.S. Dollar	August 2026		169,380	Investments	August 2026		166,905	Investments
Natixis S.A.	U.S. Dollar	August 2026		94,100	Investments	August 2026		92,725	Investments
BCRP - Reactiva Perú Especial (*)	Sol	October 2025 / December 2025		19,212	Loans guaranteed by National Government	June 2024 / December 2025		133,309	Loans guaranteed by National Government
Barclays Bank PLC	Sol	August 2028		9,090	Investments	−		–	−
Accrued interest				67,215				126,420
				7,829,434				8,606,141

(*)   Throug Repo Operations, BCP and MiBanco sell representing credit securities guaranteed by the BCRP, they receive soles and are obliged to buy them back at a later date. The credit representing securities with guarantee of the National Government may have the form of a portfolio of credit representing titles or of Certificates of Participation in trustee of the loan portfolio guaranteed by the National Government (Reactiva Especial). The BCRP will charge a fixed interest annual rate in soles of 0.50 percent for the operation and will include a grace period of twelve months without payment of interest or principal. As of December 31, 2024, the Bank and its Subsidiaries maintained repurchase agreements guaranteed for Reactiva program credits S/533.1 million (S/2,128.3 million, as of December 31, 2023).