EQUITY (Tables)

12 Months Ended

Dec. 31, 2024

We present below the stocks of Credicorp Ltd., that the entities of the Group maintain as of December 31, 2024, 2023 and 2022:

	Number of shares
2024	Shares of the Group		Shared-based payment (*)		Total

Atlantic Security Holding Corporation		14,620,846		–		14,620,846
Atlantic Security International Financial Services		–		125,843		125,843
BCP		–		94,686		94,686
Grupo Crédito		–		38,050		38,050
Pacífico Seguros		–		17,756		17,756
MiBanco		–		12,720		12,720
Credicorp Capital Servicios Financieros		–		10,440		10,440
ASB Bank Corp.		–		10,310		10,310
Prima AFP		–		3,174		3,174
Other Subsidiaries		–		12,812		12,812
		14,620,846		325,791		14,946,637

	Number of shares
2023	Shares of the Group		Shared-based payment (*)		Total

Atlantic Security Holding Corporation		14,620,846		–		14,620,846
BCP		–		109,185		109,185
Atlantic Security International Financial Services		–		39,309		39,309
Grupo Crédito		–		36,698		36,698
Pacífico Seguros		–		19,912		19,912
MiBanco		–		14,128		14,128
Credicorp Capital Servicios Financieros		–		13,267		13,267
ASB Bank Corp		–		12,041		12,041
Prima AFP		–		3,920		3,920
Other Subsidiaries		–		16,790		16,790
		14,620,846		265,250		14,886,096

	Number of shares
2022	Shares of the Group		Shared-based payment (*)		Total

Atlantic Security Holding Corporation		14,620,846		–		14,620,846
BCP		–		120,505		120,505
Grupo Crédito		–		23,214		23,214
Pacífico Seguros		–		20,606		20,606
Credicorp Capital Servicios Financieros		–		15,007		15,007
MiBanco		–		14,260		14,260
ASB Bank Corp		–		11,791		11,791
Prima AFP		–		5,406		5,406
Other Subsidiaries		–		17,588		17,588
		14,620,846		228,377		14,849,223

(*) It corresponds mainly to the treasury shares that were granted to employees and Senior Management, for which they have the right to vote, and to a lesser extent to the shares acquired for coverage purposes for the new complementary retention program. These shares are not released on said dates.

Reserves Within Equity

“Other reserves” include unrealized gains (losses) on fair value of investments through other comprehensive income and on cash flow hedges derivative instruments, net of deferred income tax and non-controlling interest. Movement was as follows:

	Other reserves:
	Instruments that will not be reclassifed to profit or loss			Instruments that will be reclassified to consolidated statement of income
	Equity instruments at fair value			Debt instruments at fair value			Reserve for cash flow hedges			Insurance reserves			Foreign currency translation reserve			Total
		S/(000)			S/(000)			S/(000)			S/(000)			S/(000)			S/(000)

Balance as of January 1, 2022		206,885			(139,500	)		(273	)		–			337,037			404,149
(Decrease) in net unrealized gains on investments		(36,477	)		(1,629,016	)		–			–			–			(1,665,493	)
Transfer to results of the net realized loss of investments		–			49,754			–			–			–			49,754
Transfer to income statement of credit loss on investments		–			63,203			-			-			-			63,203
Change in net unrealized gain on cash flow hedges derivatives		–			–			29,109			–			–			29,109
Transfer of net realized gain on cash flow hedges derivatives to profit or loss		–			–			(28,048	)		–			–			(28,048	)
Other reserves		–			–			–			1,133,536			–			1,133,536
Foreign exchange translation		–			–			–			–			(301,969	)		(301,969	)
Net movement in hedges of net investments in foreign businesses		–			–			–			–			39,587			39,587
Balance as of December 31, 2022		170,408			(1,655,559	)		788			1,133,536			74,655			(276,172	)
(Decrease) increase in net unrealized gains on investments		(12,247	)		1,241,632			–			–			–			1,229,385
Transfer to results of the net realized loss of investments		–			7,789			–			–			–			7,789
Transfer to income statement of credit loss on investments		–			8,716			–			–			–			8,716
Change in net unrealized gain on cash flow hedges derivatives		–			–			18,359			–			–			18,359
Transfer of net realized gain on cash flow hedges derivatives to profit or loss		–			–			(30,550	)		–			–			(30,550	)
Other reserves		–			–			–			(754,192	)		–			(754,192	)
Foreign exchange translation		–			–			–			–			73,498			73,498
Net movement in hedges of net investments in foreign businesses		–			–			–			–			18,950			18,950
Balance as of December 31, 2023		158,161			(397,422	)		(11,403	)		379,344			167,103			295,783
Increase in net unrealized gains on investments		24,116			136,783			–			–			–			160,899
Transfer to results of the net realized loss of investments		–			36,712			–			–			–			36,712
Transfer to income statement of credit loss on investments		–			32,776			–			–			–			32,776
Change in net unrealized gain on cash flow hedges derivatives		–			–			27,186			–			–			27,186
Transfer of net realized gain on cash flow hedges derivatives to profit or gain		–			–			(17,416	)		–			–			(17,416	)
Other reserves		–			–			–			(69,383	)		–			(69,383	)
Foreign exchange translation		–			–			–			–			(114,143	)		(114,143	)
Transfer of fair value reserve to accumulated results		(137,787	)		–			–			–			–			(137,787	)
Balance as of December 31, 2024		44,490			(191,151	)		(1,633	)		309,961			52,960			214,627

Components of Other Comprehensive Income

The movement of the item is as follows:

	2024			2023			2022
		S/(000)			S/(000)			S/(000)
To be reclassified to the consolidated statement of income in later periods Equity instruments at fair value with changes in other comprehensive income
Net unrealized gain (loss)		136,783			1,241,632			(1,629,016	)
Transfer to results of net realized loss		36,712			7,789			49,754
Transfer of recovery of credit loss to profit or loss		32,776			8,716			63,203
Sub total		206,271			1,258,137			(1,516,059	)
Non-controlling interest		4,612			18,317			(15,535	)
Income tax		(5,118	)		58,489			(82,459	)
		205,765			1,334,943			(1,614,053	)

Cash flow hedge reserves:
Net gain on cash flow hedges		27,186			18,359			29,109
Transfer of net realized gain on cash flow hedges derivatives to profit or loss		(17,416	)		(30,550	)		(28,048	)
Sub total		9,770			(12,191	)		1,061
Non-controlling interest		125			(148	)		27
Income tax		4,030			(5,104	)		158
		13,925			(17,443	)		1,246

Other reserves:
Insurances reserves		(69,383	)		(754,192	)		1,133,536
Non-controlling interest		(793	)		(8,619	)		10,604
		(70,176	)		(762,811	)		1,144,140

Foreign exchange traslation:
Exchange gains or losses		(114,143	)		73,498			(301,969	)
Net movement in hedges of net investments in foreign businesses		–			18,950			39,587
Sub total		(114,143	)		92,448			(262,382	)
Non-controlling interest		1			(34	)		(114	)
		(114,142	)		92,414			(262,496	)

	2024			2023			2022
		S/(000)			S/(000)			S/(000)
Not to be reclassified to the consolidated statement of income in later periods:

Equity instruments at fair value with changes in other comprehensive income
Net unrealized gain (loss)		24,116			(12,247	)		(36,477	)
Transfer to accumulated results from investment sale		(137,787	)		–			–
Sub total		(113,671	)		(12,247	)		(36,477	)
Non-controlling interest		7			127			23
Income tax		(8,439	)		3,791			(2,109	)
		(122,103	)		(8,329	)		(38,563	)
Attributable to:
Credicorp’s equity holders		(81,156	)		571,955			(680,321	)
Non-controlling interest		3,952			9,643			(4,995	)
		(77,204	)		581,598			(685,316	)

Distribution of Dividends

The chart below shows the distribution of dividends agreed by the Board of Directors:

	2024		2023		2022

Date of Meeting - Board of Directors		25.04.2024		27.04.2023		28.04.2022
Dividends distribution, net of treasury shares effect (in thousands of soles)		2,788,657		1,994,037		1,196,422
Payment of dividends per share (in soles)		35.0		25.0		15.0
Date of dividends payout		14.06.2024		09.06.2023		10.06.2022
Exchange rate published by the SBS		3.7685		3.6901		3.7560
Dividends payout (equivalent in thousands of US$)		739,991		540,375		318,536