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TAX SITUATION (Tables)
 12 Months Ended
Dec. 31, 2024
TAX SITUATION [Abstract]  
Reconciliation Between the Statutory Income Tax Rate and Effective Tax Rate
The reconciliation of the statutory income tax rate to the effective tax rate for the Group is as follows:

   
2024
    
2023
    
2022
  
   
In millions
of soles
    
%
    
In millions
of soles
    
%
    
In millions
of soles
    
%
  
                                     
Theoretical tax and income tax rate in Perú
    
(2,307.3
)
    
(29.50
)
    
(2,040.9
)
    
(29.50
)
    
(2,022.5
)
    
(29.50
)
Decrease (Increase) in the statutory tax rate due to:
                                                
(i) Decrease (Increase) due to the profit of subsidiaries not
domiciled in Perú
    
(77.2
)
    
(0.99
)
    
52.8
      
0.77
      
(75.8
)
    
(1.11
)
(ii) Provision tax on dividends
   
(146.7
)
    
(1.88
)
    
(235.7
)
    
(3.44
)
    
(168.4
)
    
(2.46
)
(iii) Non-taxable income, net
    
329.9
      
4.22
      
335.3
      
4.59
      
156.2
      
2.29
  
Income tax and effective income tax rate
    
(2,201.3
)
    
(28.15
)
    
(1,888.5
)
    
(27.58
)
    
(2,110.5
)
    
(30.78
)
Income Tax Expenses

b)
Income tax expense for the years ended December 31, 2024, 2023 and 2022 comprises:

   
2024
    
2023
    
2022
  
     
S/(000)

   
S/(000)

   
S/(000)

Current -
                        
In Peru
    
1,966,524
      
1,669,370
      
1,799,467
  
In other countries
    
289,694
      
295,169
      
197,971
  
     
2,256,218
      
1,964,539
      
1,997,438
  
                         
Deferred -
                        
In Peru
    
(23,182
)
    
(28,734
)
    
37,447
  
In other countries
    
(31,761
)
    
(47,354
)
    
75,616
  
     
(54,943
)
    
(76,088
)
    
113,063
  
Total
    
2,201,275
      
1,888,451
      
2,110,501
  
Deferred Income Tax

c)
The following table presents a summary of the Group’s deferred income tax:

             
   
2024
    
2023
  

   
S/(000)
   
S/(000)

Deferred income tax asset, net
                
Deferred asset
                
Allowance for loan losses for loan portfolio
    
949,040
      
1,023,000
  
Carry forward tax losses
    
198,248
      
152,201
  
Provision for profit sharing
    
94,344
      
70,908
  
Provision for sundry expenses and risks
    
60,148
      
60,103
  
Provision for pending vacations
    
37,107
      
32,420
  
Unrealized losses due to valuation of investments at fair value through
other comprehensive income
    
21,658
      
38,476
  
Depreciation of improvements for leased premises
    
15,219
      
20,436
  
Unrealized loss in valuation on cash flow hedge derivatives
     1,055       5,837  
Others
    
70,401
      
135,511
  
 
                
Deferred liability
                
Intangibles, net
    
(101,945
)
    
(176,271
)
Adjustment for difference in exchange of Superintendencia Nacional
de Aduanas y de Administración Tributaria (SUNAT) and SBS
    
(76,059
)
    
(45,016
)
Buildings depreciation
    
(50,556
)
    
(63,839
)
Deferred acquisitions costs - DAC
   
(17,362
)
    
(16,070
)
Buildings revaluation
    
(1,991
)
    
(2,552
)
Unrealized gain in valuation on cash flow hedge derivatives
    
(1,190
)
    
(804
)
Unrealized gain due to valuation of investments at fair value through
other comprehensive income
    
853
      
(3,743
)
Others
    
(28,104
)
    
(48,402
)
Total
    
1,170,866
      
1,182,195
  

   
2024
    
2023
  
     
S/(000)

   
S/(000)

Deferred income tax liability, net
                
Deferred asset
                
Unrealized losses due to valuation of investments at fair
value through other comprehensive income
    
28,165
      
8,731
  
Provision for sundry expenses and risks
    
23,034
      
12,395
  
Carry forward tax losses
    
19,757
      
19,757
  
Provision for profit sharing
    
14,850
      
17,897
  
Deferred income due to commission
    
4,645
      
5,274
  
Others
    
(39,448
)
    
(16,564
)
 
                
Deferred liability
                
Gain generated in the reorganization of Pacífico EPS
    
(39,515
)
    
(39,515
)
Intangibles, net
    
(16,953
)
    
(36,569
)
Unrealized gain due to valuation of investments at fair
value through other comprehensive income
    
(14,739
)
    
(13,846
)
Reserve for reinstatement premium costs and deductibles
    
(11,104
)
    
(10,942
)
Deferred acquisitions costs - DAC
   
(8,277
)
    
(8,186
)
Buildings revaluation
    
(2,990
)
    
(3,296
)
Leasing operations related to loans
    
(2,852
)
    
(3,038
)
Others
    
(13,598
)
    
(39,615
)
Total
    
(59,025
)
    
(107,517
)
Income Tax Returns of Major Subsidiaries Open for Examination by Tax Authorities

d)
The Peruvian Tax Authority has the right to review and, if necessary, request the amend the Tax returns filed by Peruvian subsidiaries up to four years after their filing date. However, this period may be suspended according to the criteria established in the tax legislation. Tax returns of the major subsidiaries open for examination by the tax authorities are as follows:

Banco de Crédito del Perú S.A.
   
2016, 2017, 2021 to 2023
 
MiBanco, Banco de la Microempresa S.A.
   
2023
 
Pacífico Compañía de Seguros y Reaseguros
    
2019 to 2023
 
Credicorp Capital Servicios Financieros
    
2019 to 2023
 
Credicorp Capital Perú
    
2019, 2020, 2022 and 2023
  
Grupo Credito     2020 to 2023  
Income Tax Returns of Major Subsidiaries Auditing the Sworn Declaration by Tax Authorities
It is worth mentioning that the Tax Authority is auditing the tax return of:

Banco de Crédito del Perú S.A.
    
2020
  
MiBanco, Banco de la Microempresa S.A.    
2022
  
Credicorp Capital Perú    
2021
  
Annual Income Tax Returns Pending Review by the Overseas Tax Authorities
The Tax Authorities of Bolivia and Colombia have the power to review and, if applicable, to make a new Income Tax assessment of Credicorp’s subsidiaries located in such countries, which also regulate the terms for the review after the filing of the Income Tax returns. Additionally, in the case of Colombia, a 6-year term was established for taxpayers obliged to apply the rules on Transfer Pricing or taxpayers who declare tax losses. The annual tax returns pending review by the foreign tax authorities are as follows:
Banco de Crédito de Bolivia
    
2017 to 2023
  
Credicorp Capital Colombia
     2019, 2020, 2021 and 2023
  
MiBanco Colombia
    
2019 to 2023
  
Credicorp Capital Fiduciaria     2019 to 2023