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FINANCIAL AND NON-FINANCIAL RISK MANAGEMENT (Tables)

12 Months Ended

Dec. 31, 2024

Disclosure of financial risk management [line Items]

Direct Credits (Without Interest) Classification into Groups and Allowance for each Types of Loans

The following is a summary of the direct loans (without interest) classified into three important groups and their respective allowance for loan losses for each type of loan; it is important to note that impaired loans are loans in default that are in stage 3. Additionally, it should be noted that, in accordance with IFRS 7, the total balance of the loan is considered overdue when the debtor has failed to make a payment at its contractual maturity.

	2024								2023
Commercial loans	Stage 1		Stage 2		Stage 3		Total		Stage 1		Stage 2		Stage 3		Total
	S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)
Neither past due nor impaired		67,303,201		3,509,158		–		70,812,359		65,012,679		4,076,777		–		69,089,456
Past due but not impaired		612,574		468,459		–		1,081,033		937,720		693,084		–		1,630,804
Impaired		–		–		5,028,223		5,028,223		–		–		6,100,142		6,100,142
Gross		67,915,775		3,977,617		5,028,223		76,921,615		65,950,399		4,769,861		6,100,142		76,820,402
Less: Allowance for loan losses		493,130		291,963		2,159,115		2,944,208		489,706		394,868		2,330,978		3,215,552
Total, net		67,422,645		3,685,654		2,869,108		73,977,407		65,460,693		4,374,993		3,769,164		73,604,850

Residential mortgage loans	Stage 1		Stage 2		Stage 3		Total		Stage 1		Stage 2		Stage 3		Total
	S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)
Neither past due nor impaired		18,451,482		3,819,271		–		22,270,753		18,590,193		2,952,908		–		21,543,101
Past due but not impaired		505,016		672,405		–		1,177,421		559,877		605,193		–		1,165,070
Impaired		–		–		1,643,883		1,643,883		–		–		1,468,747		1,468,747
Gross		18,956,498		4,491,676		1,643,883		25,092,057		19,150,070		3,558,101		1,468,747		24,176,918
Less: Allowance for loan losses		66,260		168,188		819,671		1,054,119		54,102		121,257		785,261		960,620
Total, net		18,890,238		4,323,488		824,212		24,037,938		19,095,968		3,436,844		683,486		23,216,298

Microbusiness loans	Stage 1		Stage 2		Stage 3		Total		Stage 1		Stage 2		Stage 3		Total
	S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)
Neither past due nor impaired		16,589,516		3,670,678		–		20,260,194		15,728,517		3,862,859		–		19,591,376
Past due but not impaired		257,476		573,634		–		831,110		264,477		767,325		–		1,031,802
Impaired		–		–		1,686,829		1,686,829		–		–		1,802,572		1,802,572
Gross		16,846,992		4,244,312		1,686,829		22,778,133		15,992,994		4,630,184		1,802,572		22,425,750
Less: Allowance for loan losses		384,145		396,678		1,167,311		1,948,134		347,783		431,278		1,288,068		2,067,129
Total, net		16,462,847		3,847,634		519,518		20,829,999		15,645,211		4,198,906		514,504		20,358,621

Consumer loans	Stage 1		Stage 2		Stage 3		Total		Stage 1		Stage 2		Stage 3		Total
	S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)
Neither past due nor impaired		14,188,847		3,335,516		–		17,524,363		14,934,631		2,827,796		–		17,762,427
Past due but not impaired		160,755		383,227		–		543,982		261,414		489,658		–		751,072
Impaired		–		–		1,459,095		1,459,095		–		–		1,546,685		1,546,685
Gross		14,349,602		3,718,743		1,459,095		19,527,440		15,196,045		3,317,454		1,546,685		20,060,184
Less: Allowance for loan losses		331,011		514,255		1,203,250		2,048,516		285,091		435,151		1,314,373		2,034,615
Total, net		14,018,591		3,204,488		255,845		17,478,924		14,910,954		2,882,303		232,312		18,025,569

Consolidated of loans	Stage 1		Stage 2		Stage 3		Total		Stage 1		Stage 2		Stage 3		Total
	S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)
Total gross direct loans, Note 7(a)		118,068,867		16,432,348		9,818,030		144,319,245		116,289,508		16,275,600		10,918,146		143,483,254
Total allowance for direct loan losses, Note 7(a)		1,274,546		1,371,084		5,349,347		7,994,977		1,176,682		1,382,554		5,718,680		8,277,916
Total net direct loans		116,794,321		15,061,264		4,468,683		136,324,268		115,112,826		14,893,046		5,199,466		135,205,338

Renegotiated Loans, Refinanced Loans and Expected Loss

As of December 31, 2024, and 2023, renegotiated loans, refinanced loans and their expected loss are composed as follows:

	2024				2023
	Refinanced loans		Allowance for loan losses		Refinanced loans		Allowance for loan losses
	S/(000)		S/(000)		S/(000)		S/(000)

Stage 1		89,847		5,961		56,439		1,445
Stage 2		60,494		9,968		41,380		5,984
Stage 3		2,059,690		971,741		2,288,349		1,018,911
Total		2,210,031		987,670		2,386,168		1,026,340

	2024				2023
	Renegotiated loans		Allowance for loan losses		Renegotiated loans		Allowance for loan losses
	S/(000)		S/(000)		S/(000)		S/(000)

Stage 1		3,090,297		23,513		4,093,815		36,800
Stage 2		579,176		55,208		1,536,104		146,087
Stage 3		711,770		417,017		1,366,287		877,839
Total		4,381,243		495,738		6,996,206		1,060,726

Impaired Loans, Fair Value of Collateral and Allowance of Loan Losses

The detail of the gross amount of impaired direct loans by type of loan, together with the fair value of the related collateral and the amounts of its allowance for loan losses, are as follows:

	2024										2023
	Commercial loans		Residential mortgage loans		Microbusiness loans		Consumer loans		Total		Commercial loans		Residential mortgage loans		Microbusiness loans		Consumer loans		Total
	S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)

Impaired loans		5,028,223		1,643,883		1,686,829		1,459,095		9,818,030		6,100,142		1,468,747		1,802,572		1,546,685		10,918,146
Fair value of collateral		3,979,625		1,401,503		388,752		439,736		6,209,616		5,013,453		1,257,251		347,343		370,790		6,988,837
Allowance for loan losses		2,159,115		819,671		1,167,311		1,203,250		5,349,347		2,330,978		785,261		1,288,068		1,314,373		5,718,680

Overdue Loans under IFRS 7

The total of the following reflects all overdue loans according to IFRS 7: (i) loans with payment delays of one day or more but that are not considered overdue under internal criteria and (ii) overdue loans under internal criteria.

	2024												2023
	Current loans		Current but impaired loans		Loans with delays in payments of one day or more but not considered internal overdue loans		Internal overdue loans		Total		Total past due under IFRS 7		Current loans		Current but impaired loans		Loans with delays in payments of one day or more but not considered internal overdue loans		Internal overdue loans		Total		Total past due under IFRS 7
	S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)
Neither past due nor impaired		130,867,669		–		–		-		130,867,669		-		127,986,360		–		–		-		127,986,360		-
Past due but not impaired		–		–		3,189,089		444,457		3,633,546		3,633,546		-		–		4,067,581		511,167		4,578,748		4,578,748
Impaired debt		–		3,802,650		1,029,703		4,985,677		9,818,030		6,015,380		–		4,303,045		993,101		5,622,000		10,918,146		6,615,101
Total		130,867,669		3,802,650		4,218,792		5,430,134		144,319,245		9,648,926		127,986,360		4,303,045		5,060,682		6,133,167		143,483,254		11,193,849

Classification of Direct Loans by Banking and Maturity

The classification of direct loans by type of loan and type of maturity is shown below:

	2024										2023
	Current loans		Current but impaired loans		Loans with delays in payments of one day or more but not considered internal overdue loans		Internal overdue loans		Total		Current loans		Current but impaired loans		Loans with delays in payments of one day or more but not considered internal overdue loans		Internal overdue loans		Total
	S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)
Commercial loans		70,812,359		2,256,618		1,220,408		2,632,230		76,921,615		69,089,495		2,901,367		1,662,457		3,167,083		76,820,402
Residential mortgage loans		22,270,753		573,359		1,456,906		791,039		25,092,057		21,543,100		484,375		1,405,344		744,099		24,176,918
Small business loans		20,260,194		328,229		779,402		1,410,308		22,778,133		19,591,337		333,213		978,265		1,522,935		22,425,750
Consumer loans		17,524,363		644,444		762,076		596,557		19,527,440		17,762,428		584,090		1,014,616		699,050		20,060,184
Total		130,867,669		3,802,650		4,218,792		5,430,134		144,319,245		127,986,360		4,303,045		5,060,682		6,133,167		143,483,254

Carrying Amount of Allowances for Direct and Indirect Loans Losses and its Estimation

The following table provides a comparison between the carrying amount of allowance for loan losses for direct loans, indirect loans and due from customers on banker’s acceptances, and its estimation under three scenarios base, optimistic and pessimistic.

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

Carrying amount		8,378,895		8,645,945

Scenarios:
Optimistic		8,283,450		8,617,203
Base Case		8,369,849		8,654,612
Pessimistic		8,492,433		8,712,061

Risk Rating Analysis of Investments

The following table shows the risk analysis of the investments provided by the institutions referred to above:

	2024				2023
	S/(000)		%		S/(000)		%
Instruments rated in Peru:
A- to A+		-		–		65,360		0.1
BBB- to BBB+		23,952,251		44.5		22,584,226		43.3
BB- to BB+		910,170		1.7		657,658		1.3
Lower and equal to +B		33,402		0.1		132,148		0.3
Unrated:
BCRP certificates of deposit		11,435,757		21.2		11,127,919		21.3
Listed and unlisted securities		158,620		0.3		312,648		0.6
Restricted mutual funds		307,225		0.6		334,162		0.6
Investment funds		835,689		1.6		651,307		1.2
Mutual funds		66,156		0.1		1,824		–
Other instruments		276,372		0.5		242,310		0.5
Subtotal		37,975,642		70.6		36,109,562		69.2

	2024				2023
	S/(000)		%		S/(000)		%
Instruments rated abroad:
AAA		442,467		0.8		1,007,270		1.9
AA- a AA+		2,562,695		4.7		2,447,819		4.7
A- to A+		2,720,507		5.1		2,709,151		5.2
BBB- to BBB+		4,904,951		9.1		4,273,210		8.2
BB- to BB+		2,608,610		4.8		2,045,242		3.9
Lower and equal to +B		60,822		0.1		673,757		1.3
Unrated:
Listed and unlisted securities		42,033		0.1		60,877		0.1
Mutual funds		556,001		1.0		1,104,724		2.1
Participations of RAL funds		432,503		0.8		145,414		0.3
Investment funds		566,267		1.1		547,719		1.0
Other instruments		953,360		1.8		1,090,783		2.1
Subtotal		15,850,216		29.4		16,105,966		30.8
Total		53,825,858		100.0		52,215,528		100.0

Concentration of Financial Instruments Exposed to Credit Risk

As of December 31, 2024 and 2023, financial instruments with exposure to credit risk were distributed considering the following economic sectors:

	2024										2023
	At fair value through profit for loss										At fair value through profit for loss
	Held for trading, hedging and others (*)		Designated at inception		Financial assets at amortized cost		At fair value through other comprehensive income investments (**)		Total		Held for trading, hedging and others (*)		Designated at inception		Financial assets at amortized cost		At fair value through other comprehensive income investments (**)		Total
	S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)

Central Reserve Bank of Peru		44,599		–		36,640,462		11,435,757		48,120,818		192,666		–		23,642,580		10,935,253		34,770,499
Commerce		4,441		1,130		26,546,422		1,263,109		27,815,102		5,969		29		24,611,067		1,007,029		25,624,094
Financial services		2,181,025		633,527		18,345,088		4,196,687		25,356,327		3,409,897		73,182		14,499,904		3,900,949		21,883,932
Mortgage loans		–		–		24,165,038		–		24,165,038		–		–		23,395,049		–		23,395,049
Government and public administration		2,153,564		42,978		8,451,218		13,471,446		24,119,206		1,713,104		241,294		9,808,792		12,068,576		23,831,766
Manufacturing		157,215		81		21,260,811		1,918,004		23,336,111		195,981		78		22,857,640		1,925,973		24,979,672
Consumer loans		–		–		18,494,305		–		18,494,305		–		–		18,457,100		–		18,457,100
Communications, storage and transportation		25,331		254,562		9,928,424		991,194		11,199,511		69,371		495,995		8,592,952		957,512		10,115,830
Electricity, gas and water		109,673		87		5,917,891		2,245,021		8,272,672		134,229		83		4,642,005		4,056,334		8,832,651
Real estate and leasing		163,867		–		4,872,017		2,408		5,038,292		67,209		–		8,989,709		3,248		9,060,166
Agriculture		3,995		–		4,610,164		8,034		4,622,193		3,699		–		4,569,647		15,808		4,589,154
Mining		5,563		–		3,670,102		226,845		3,902,510		9,399		–		3,755,224		155,708		3,920,331
Construction		3,901		–		2,924,805		390,071		3,318,777		3,336		–		3,284,049		415,280		3,702,665
Education, health and others		390,150		10		1,736,113		844,135		2,970,408		113,028		271		1,490,560		814,761		2,418,620
Hotels and restaurants		–		–		2,570,704		–		2,570,704		–		–		2,480,313		–		2,480,313
Fishing		4		–		669,274		–		669,278		139		–		658,316		–		658,455
Insurance		3,252		–		133,086		–		136,338		5,138		–		88,947		193		94,278
Community services and others		373,554		359		8,254,825		3,149,927		11,778,665		47,159		–		8,889,807		787,316		9,724,282
Total		5,620,134		932,734		199,190,749		40,142,638		245,886,255		5,970,324		810,932		184,713,661		37,043,940		228,538,857

(*)

It includes non-trading investments that did not pass SPPI test.

(**)

OCI: Other comprehensive income.

Financial Assets Subject to Offsetting

Financial assets subject to offsetting, enforceable master offsetting agreements and similar agreements:

	2024
			Net of financial assets presented in the consolidated statements of financial position		Related amounts not offset in the consolidated statement of financial position
Details	Gross amounts recognized financial assets				Financial instruments			Cash collateral received			Net amount
	S/(000)		S/(000)		S/(000)			S/(000)			S/(000)
Receivables from derivatives		904,791		904,791		(310,932	)		(37,615	)		556,244
Cash collateral, reverse repurchase agreements and securities borrowing		1,033,177		1,033,177		–			(19,151	)		1,014,026
Investments at fair value through other comprehensive income and amortized cost pledged as collateral		6,997,811		6,997,811		(6,159,186	)		–			838,625
Total		8,935,779		8,935,779		(6,470,118	)		(56,766	)		2,408,895

	2023
			Net of financial assets presented in the consolidated statements of financial position		Related amounts not offset in the consolidated statement of financial position
Details	Gross amounts recognized financial assets				Financial instruments			Cash collateral received			Net amount
		S/(000)		S/(000)		S/(000)			S/(000)			S/(000)
Receivables from derivatives		987,663		987,663		(234,550	)		(139,833	)		613,280
Cash collateral, reverse repurchase agreements and securities borrowing		1,410,647		1,410,647		–			(16,924	)		1,393,723
Available-for-sale and held-to-maturity investments pledged as collateral		6,533,959		6,533,959		(5,496,964	)		–			1,036,995
Total		8,932,269		8,932,269		(5,731,514	)		(156,757	)		3,043,998

Financial Liabilities Subject to Offsetting

Financial liabilities subject to offsetting, enforceable offsetting master agreements and similar agreements:

	2024
			Net amounts of financial liabilities presented in the consolidated statement of financial position		Related amounts not offset in the consolidated statement of financial position
Details	Gross amounts of recognized financial liabilities				Financial instruments			Cash collateral pledged			Net amount
	S/(000)		S/(000)		S/(000)			S/(000)			S/(000)
Payables on derivatives		819,473		819,473		(310,932	)		(1,115,338	)		(606,797	)
Payables on repurchase agreements and securites lending		9,060,710		9,060,710		(6,692,254	)		(362,723	)		2,005,733
Total		9,880,183		9,880,183		(7,003,186	)		(1,478,061	)		1,398,936

	2023
			Net amounts of financial liabilities presented in the consolidated statement of financial position		Related amounts not offset in the consolidated statement of financial position
Details	Gross amounts of recognized financial liabilities				Financial instruments			Cash collateral pledged			Net amount
	S/(000)		S/(000)		S/(000)			S/(000)			S/(000)
Payables on derivatives		891,999		891,999		(234,550	)		(170,998	)		486,451
Payables on repurchase agreements and securites lending		10,168,427		10,168,427		(7,566,773	)		(607,639	)		1,994,015
Total		11,060,426		11,060,426		(7,801,323	)		(778,637	)		2,480,466

Schedule of VAR by Risk Type

As of December 31, 2024 and 2023, the Group’s VaR by risk type is as follows:

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

Interest rate risk		29,138			29,399
Price risk		933			5,291
Volatility risk		462			20
Diversification effect		(1,685	)		(5,850	)
Consolidated VaR by type of risk		28,848			28,860

Results of Sensitivity Analysis Regarding Changes in Interest Rates

The results of the sensitivity analysis regarding changes in interest rates at December 31, 2024 and 2023 are presented below:

2024
Currency	Changes in basis points		Sensitivity of net profit		Sensitivity of Net Economic Value
			S/(000)		S/(000)
Soles	+/-	50	+/-	30,754	-/+	425,783
Soles	+/-	75	+/-	46,132	-/+	638,675
Soles	+/-	100	+/-	61,509	-/+	851,567
Soles	+/-	150	+/-	92,263	-/+	1,277,350
U.S. Dollar	+/-	50	+/-	134,532	+/-	191,211
U.S. Dollar	+/-	75	+/-	201,798	+/-	286,816
U.S. Dollar	+/-	100	+/-	269,064	+/-	382,421
U.S. Dollar	+/-	150	+/-	403,595	+/-	573,632

2023
Currency	Changes in basis points		Sensitivity of net profit		Sensitivity of Net Economic Value
			S/(000)		S/(000)
Soles	+/-	50	+/-	15,052	-/+	511,851
Soles	+/-	75	+/-	22,578	-/+	767,776
Soles	+/-	100	+/-	30,104	-/+	1,023,702
Soles	+/-	150	+/-	45,156	-/+	1,535,553
U.S. Dollar	+/-	50	+/-	48,060	+/-	119,342
U.S. Dollar	+/-	75	+/-	72,090	+/-	179,013
U.S. Dollar	+/-	100	+/-	96,120	+/-	238,684
U.S. Dollar	+/-	150	+/-	144,180	+/-	358,026

Information about Assets and Liabilities by Currencies

Foreign currency transactions are made at market exchange rates of the countries where Credicorp’s Subsidiaries are established. As of December 31,2024 and 2023, the net open monetary position with effect on results and the equity position of the Group was as follows:

	2024									2023
	U.S. Dollar			Other currencies			Total			U.S. Dollar			Other currencies			Total
		S/(000)			S/(000)			S/(000)			S/(000)			S/(000)			S/(000)

Total monetary assets		93,696,321			435,107			94,131,428			77,387,709			495,553			77,883,262
Total monetary liabilities		(86,859,546	)		(104,858	)		(86,964,404	)		(79,779,686	)		(102,500	)		(79,882,186	)
		6,836,775			330,249			7,167,024			(2,391,977	)		393,053			(1,998,924	)

Total position in currency derivatives		(6,142,485	)		144,889			(5,997,596	)		2,622,188			(369,458	)		2,252,730

Net monetary position with effect on consolidated statement of income		694,290			475,138			1,169,428			230,211			23,595			253,806

Net monetary position with effect on equity		754,769			2,291,428			3,046,197			904,434			2,204,984			3,109,418

Net monetary position		1,449,059			2,766,566			4,215,625			1,134,645			2,228,579			3,363,224

Sensitivity Analysis

The sensitivity analysis of the foreign currency position with an effect on the consolidated income statement as of December 31, 2024 and December 31, 2023 is shown below, with the U.S. Dollar as the main currency of exposure:

Currency rate sensibility	Change in currency rates		2024			2023
	%		S/000			S/000
Depreciation -
Soles in relation to U.S. Dollar		5		33,061			10,962
Soles in relation to U.S. Dollar		10		63,117			20,928

Appreciation -
Soles in relation to U.S. Dollar		5		(36,542	)		(12,116	)
Soles in relation to U.S. Dollar		10		(77,143	)		(25,579	)

The following is a sensitivity analysis of the foreign exchange position with effect on the consolidated statement of comprehensive income, with the U.S. Dollar, Boliviano, Colombian peso and Chilean peso as the main currencies of exposure. This analysis is shown as of December 31, 2024 and 2023:

Currency rate sensibility	Change in currency rates		2024			2023
	%		S/000			S/000
Depreciation -
Soles in relation to U.S. Dollar		5		35,941			43,377
Soles in relation to U.S. Dollar		10		68,615			82,812

Appreciation -
Soles in relation to U.S. Dollar		5		(39,725	)		(47,944	)
Soles in relation to U.S. Dollar		10		(83,863	)		(101,214	)

Currency rate sensibility	Change in currency rates		2024			2023
	%		S/000			S/000
Depreciation -
Soles in relation to Boliviano		5		45,842			40,969
Soles in relation to Boliviano		10		87,516			78,214

Appreciation -
Soles in relation to Boliviano		5		(50,667	)		(45,282	)
Soles in relation to Boliviano		10		(106,964	)		(95,595	)

Currency rate sensibility	Change in currency rates		2024			2023
	%		S/000			S/000
Depreciation -
Soles in relation to Colombian Peso		5		42,919			45,804
Soles in relation to Colombian Peso		10		81,936			87,444

Appreciation -
Soles in relation to Colombian Peso		5		(47,437	)		(50,626	)
Soles in relation to Colombian Peso		10		(100,144	)		(106,876	)

Currency rate sensibility	Change in currency rates		2024			2023
	%		S/000			S/000
Depreciation -
Soles in relation to Chilean Peso		5		20,272			18,136
Soles in relation to Chilean Peso		10		38,702			34,624

Appreciation -
Soles in relation to Chilean Peso		5		(22,406	)		(20,046	)
Soles in relation to Chilean Peso		10		(47,302	)		(42,318	)

Cash Flows Associated with Remaining Contractual Maturities

The table below presents the cash flows payable by the Group by remaining contractual maturities (including future interest payments) at the date of the consolidated statement of financial position. The amounts disclosed in the table are the contractual undiscounted cash flows:

	2024																2023
	Up to a month		From 1 to 3 months		From 3 to 12 months			From 1 to 5 years			Over 5 Year			Total			Up to a month		From 1 to 3 months		From 3 to 12 months			From 1 to 5 years		Over 5 Year		Total
	S/(000)		S/(000)		S/(000)			S/(000)			S/(000)			S/(000)			S/(000)		S/(000)		S/(000)			S/(000)		S/(000)		S/(000)

Financial assets		48,594,583		26,281,483		65,297,685			87,773,303			54,682,216			282,629,270			38,552,719		26,270,643		60,976,000			92,329,896		47,960,945		266,090,203

Financial liabilities by type -
Deposits and obligations		30,985,483		20,512,659		40,067,393			45,138,302			26,735,551			163,439,388			42,289,107		18,369,890		26,491,876			55,511,772		9,275,728		151,938,373
Payables from reverse purchase agreements and security lendings and due to banks and correspondents		3,697,052		5,382,691		4,441,442			4,079,266			3,918,189			21,518,640			6,048,623		2,581,452		5,994,505			5,749,977		3,901,739		24,276,296

Financial liabilities designated at fair value through profit or loss		151,485		–		–			–			–			151,485			641,915		–		–			–		–		641,915
Bonds and notes issued		3,185,435		2,213,666		4,260,484			6,629,122			3,062,721			19,351,428			214,609		188,158		5,624,264			7,492,224		579,266		14,098,521
Lease liabilities		31,147		33,499		93,536			229,166			104,285			491,633			30,710		33,118		89,984			256,960		102,344		513,116
Other liabilities		4,086,668		297,762		234,627			27,317			1,921,410			6,567,784			3,646,610		358,303		241,182			8,484		1,636,332		5,890,911
Total liabilities		42,137,270		28,440,277		49,097,482			56,103,173			35,742,156			211,520,358			52,871,574		21,530,921		38,441,811			69,019,417		15,495,409		197,359,132

Derivative financial liabilities -
Contractual amounts receivable (Inflows)		1,960,811		3,420,416		4,858,373			1,013,090			20,320			11,273,010			961,788		1,059,625		3,153,643			1,394,394		30,653		6,600,103
Contractual amounts payable (outflows)		1,955,324		3,416,357		4,877,328			1,034,592			21,027			11,304,628			939,961		1,053,036		3,185,326			1,329,268		28,899		6,536,490
Total liabilities		5,487		4,059		(18,955	)		(21,502	)		(707	)		(31,618	)		21,827		6,589		(31,683	)		65,126		1,754		63,613

Estimates of Accumulated Claims Incurred

The following table shows the estimates of accumulated claims incurred as of December 31, 2024:

	2015			2016			2017			2018			2019			2020			2021			2022			2023			2024			Total
	S/(000)			S/(000)			S/(000)			S/(000)			S/(000)			S/(000)			S/(000)			S/(000)			S/(000)			S/(000)			S/(000)
Gross estimates of the undiscounted amount of the claims:
At the end of the claim year		1,637,838			1,047,428			1,602,775			1,152,556			1,426,087			1,548,529			2,106,530			1,379,742			1,564,601			1,491,978			14,958,064
1 year later		2,458			1,999			2,917			5,830			15,447			21,123			107,965			167,943			172,015			670,047			1,167,744
2 years later		2,052			164			1,889			3,469			4,180			11,051			39,861			127,303			85,383			217,606			492,958
3 years later		3,390			82			92			2,122			2,880			3,500			11,137			31,737			59,927			94,077			208,944
4 years later		–			1,533			46			90			2,389			4,431			4,203			9,776			22,453			67,570			112,491
5 years later		–			–			843			75			144			3,446			6,419			4,076			9,912			17,756			42,671
6 years later		–			–			–			811			81			111			5,158			4,783			4,248			38,738			53,930
7 years later		–			–			–			–			1,419			30			30			2,316			3,339			5,486			12,620
8 years later		–			–			–			–			–			1,028			46			92			2,328			3,322			6,816
9 years later		–			–			–			–			–			–			297			854			244			2,557			3,952
Accumulated gross claims and other directly attributable expenses paid for the year of occurrence		1,645,738			1,051,206			1,608,562			1,164,953			1,452,627			1,593,249			2,281,646			1,728,622			1,924,450			2,609,137			17,060,190
Liabilities / Gross Obligations accumulated by claims		8,317			6,919			7,909			18,380			30,226			56,998			222,417			466,484			454,110			1,698,314			2,970,074
Discount event		(1,614	)		(1,021	)		(1,015	)		(1,900	)		(2,849	)		(4,729	)		(15,369	)		(34,248	)		(34,104	)		(93,068	)		(189,917	)
Effect of Risk Adjustment for non-financial risk		–			–			–			–			–			–			–			–			–			28,729			28,729
Gross LIC of the Temporary Regime and Definitive Regime		–			–			–			–			–			–			–			–			–			–			39,082
Gross provision for incurred claims		6,703			5,898			6,894			16,480			27,377			52,269			207,048			432,236			420,006			1,633,975			2,847,968

The following table shows the estimates of accumulated claims incurred as of December 31, 2023:

	2014			2015			2016			2017			2018			2019			2020			2021			2022			2023			Total
	S/(000)			S/(000)			S/(000)			S/(000)			S/(000)			S/(000)			S/(000)			S/(000)			S/(000)			S/(000)			S/(000)
Gross estimates of the undiscounted amount of the claims:
At the end of the claim year		1,397,461			963,490			1,039,516			1,628,377			1,154,065			1,450,470			1,538,564			2,000,372			1,687,397			1,724,774			14,584,486
1 year later		1,027			3,453			3,475			1,693			6,872			9,523			38,655			137,774			317,513			614,260			1,134,245
2 years later		129			577			3,441			4,265			8,398			5,701			13,276			71,537			197,750			191,387			496,461
3 years later		–			53			505			3,902			4,665			2,263			5,093			22,757			89,213			99,775			228,226
4 years later		–			–			81			278			3,148			4,684			2,712			7,511			24,184			44,274			86,872
5 years later		–			–			–			28			262			4,008			5,379			2,762			7,492			15,491			35,422
6 years later		–			–			–			–			40			438			4,331			7,395			2,405			4,663			19,272
7 years later		–			–			–			–			–			93			358			5,953			6,962			6,197			19,563
8 years later		–			–			–			–			–			–			42			66			4,639			9,695			14,442
9 years later		–			–			–			–			–			–			–			29			356			1,648			2,033
Accumulated gross claims and other directly attributable expenses paid for the year of occurrence		1,398,617			967,573			1,047,018			1,638,543			1,177,450			1,477,180			1,608,410			2,256,156			2,337,911			2,712,164			16,621,022
Liabilities / Gross Obligations accumulated by claims		3,672			6,335			8,955			13,396			30,289			34,361			81,747			321,842			839,516			1,421,449			2,761,562
Discount event		(527.00	)		(775	)		(1,207	)		(1,687	)		(2,890	)		(3,597	)		(7,361	)		(27,666	)		(64,783	)		(83,109	)		(193,602	)
Effect of Risk Adjustment for non-financial risk		–			–			–			–			–			–			–			–			–			21,590			21,590
Gross LIC of the Temporary Regime and Definitive Regime		–			–			–			–			–			–			–			–			–			–			41,451
Gross provision for incurred claims		3,145			5,560			7,748			11,709			27,399			30,764			74,386			294,176			774,733			1,359,930			2,631,001

Analysis of Financial Instruments Measured at Fair Value by Level in Fair Value Hierarchy

The following table analyses financial instruments measured at fair value at the reporting date, by the level in the fair value hierarchy into which the fair value measurement is categorized. The amounts are based on the values recognized in the consolidated statement of financial position:

			2024								2023
	Note		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
			S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)
Financial assets
Derivative financial instruments:
Interest rate swaps				–		489,602		–		489,602		–		384,238		–		384,238
Currency swaps				–		219,648		–		219,648		–		230,818		–		230,818
Foreign currency forwards				–		161,495		–		161,495		–		334,562		–		334,562
Cross currency swaps				–		29,551		–		29,551		–		35,754		–		35,754
Foreign exchange options				–		3,018		–		3,018		–		1,104		–		1,104
Futures				–		1,477		–		1,477		–		1,187		–		1,187
		12(c)		–		904,791		–		904,791		–		987,663		–		987,663

Investments at fair value through profit of loss		6(a)		2,512,497		625,116		1,577,730		4,715,343		2,983,312		919,499		1,079,850		4,982,661
Financial assets at fair value through profit of loss				930,627		2,107		–		932,734		810,582		350		–		810,932

Investments at fair value through other comprehensive income:
Debt Instruments
Corporate bonds				7,094,584		7,292,412		–		14,386,996		6,176,329		7,139,979		68,842		13,385,150
Government bonds				11,565,309		902,942		–		12,468,251		9,722,319		867,883		–		10,590,202
Certificates of deposit BCRP				–		11,435,757		–		11,435,757		–		10,935,253		–		10,935,253
Securitization instruments				–		714,738		–		714,738		–		683,930		–		683,930
Negotiable certificates of deposit				–		438,988		–		438,988		–		482,047		–		482,047
Subordinated bonds				42,493		127,455		–		169,948		71,590		209,349		–		280,939
Other instruments				–		282,104		98,592		380,696		–		297,220		54,397		351,617
Equity instruments				15,307		118,735		13,222		147,264		147,681		173,253		13,868		334,802
		6(b)		18,717,693		21,313,131		111,814		40,142,638		16,117,919		20,788,914		137,107		37,043,940

Total financial assets				22,160,817		22,845,145		1,689,544		46,695,506		19,911,813		22,696,426		1,216,957		43,825,196

Financial liabilities
Derivatives financial instruments:
Interest rate swaps				–		353,647		–		353,647		–		205,112		–		205,112
Currency swaps				–		230,848		–		230,848		–		429,365		–		429,365
Foreign currency forwards				–		210,947		–		210,947		–		205,341		–		205,341
Cross currency swaps				–		15,491		–		15,491		–		46,561		–		46,561
Foreign exchange options				–		8,420		–		8,420		–		4,002		–		4,002
Futures				–		120		–		120		–		1,618		–		1,618
		12(c)		–		819,473		–		819,473		–		891,999		–		891,999
Financial liabilities at fair value through profit or loss				–		151,485		–		151,485		–		641,915		–		641,915

Total financial liabilities				–		970,958		–		970,958		–		1,533,914		–		1,533,914

Carrying Amounts and Fair Values of Financial Instruments which are not Measured at Fair Value

We present below the disclosure of the comparison between the carrying amounts and fair values of the financial instruments, which are not measured at fair value, presented in the consolidated statement of financial position by level of the fair value hierarchy:

	2024										2023
	Level 1		Level 2		Level 3		Fair value		Book value		Level 1		Level 2		Level 3		Fair value		Book value
	S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)
Assets
Cash and due from banks		–		47,655,196		–		47,655,196		47,655,196		–		33,930,948		–		33,930,948		33,930,948
Cash collateral, reverse repurchase agreement and securities borrowing		–		1,033,177		–		1,033,177		1,033,177		–		1,410,647		–		1,410,647		1,410,647
Investments at amortized cost		8,146,745		296,793		–		8,443,538		8,967,877		9,338,213		362,100		–		9,700,313		10,188,927
Loans, net		–		137,737,296		–		137,737,296		137,737,296		–		136,698,135		–		136,698,135		136,698,135
Due from customers on banker’s acceptances		–		528,184		–		528,184		528,184		–		412,401		–		412,401		412,401
Other assets (*)		–		3,269,019		–		3,269,019		3,269,019		–		2,072,603		–		2,072,603		2,072,603
Total		8,146,745		190,519,665		–		198,666,410		199,190,749		9,338,213		174,886,834		–		184,225,047		184,713,661

Liabilities
Deposits and obligations		–		161,842,066		–		161,842,066		161,842,066		–		147,704,994		–		147,704,994		147,704,994
Payables on repurchase agreements and securities lending		–		9,060,710		–		9,060,710		9,060,710		–		10,168,427		–		10,168,427		10,168,427
Due to Banks and correspondents and other entities		–		10,820,211		–		10,820,211		10,754,385		–		12,308,392		–		12,308,392		12,278,681
Due from customers on banker’s acceptances		–		528,184		–		528,184		528,184		–		412,401		–		412,401		412,401
Lease liabilities		–		404,817		–		404,817		404,817		–		512,579		–		512,579		512,579
Bond and notes issued		–		17,230,157		–		17,230,157		17,268,443		–		14,742,600		–		14,742,600		14,594,785
Other liabilities (**)		–		5,220,127		–		5,220,127		5,220,127		–		4,586,511		–		4,586,511		4,586,511
Total		–		205,106,272		–		205,106,272		205,078,732		–		190,435,904		–		190,435,904		190,258,378

(*) Corresponds to receivables, margin call, receivables from sale of investments and operations in process.

(**) Corresponds to accounts payable, salaries and other personnel expenses, accounts payable for acquisitions of investments, operations in process, allowance for indirect loan losses and dividends payable

Value of Net Assets under Administration of Balance Sheet

As of December 31, 2024, and 2023, the value of the net assets under administration off the balance sheet (in millions of soles) is as follows:

	2024		2023
Investment funds and mutual funds		64,430		55,773
Equity managed		39,372		35,016
Pension funds		32,437		36,867
Bank trusts		6,120		3,949
Total		142,359		131,605

Credit Risk Geographical Areawise [Member]

Disclosure of financial risk management [line Items]

Concentration of Financial Instruments Exposed to Credit Risk

As of December 31, 2024 and 2023 financial instruments with exposure to credit risk were distributed by the following geographical areas:

	2024										2023
	At fair value through profit for loss										At fair value through profit for loss
	Held for trading, hedging and others (*)		Designated at inception		Financial assets at amortized cost		At fair value through other comprehensive income investments (**)		Total		Held for trading, hedging and others (*)		Designated at inception		Financial assets at amortized cost		At fair value through other comprehensive income investments (**)		Total
	S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)

America
Peru		1,893,544		3,593		175,089,699		27,879,813		204,866,649		1,601,757		1,333		163,235,790		25,099,606		189,938,486
Bolivia		835,594		–		11,850,504		801,894		13,487,992		550,271		–		11,609,164		861,246		13,020,681
United States of America		757,151		845,577		3,228,496		7,360,645		12,191,869		736,813		339,619		2,464,455		7,260,134		10,801,021
Colombia		1,218,708		–		3,560,497		793,612		5,572,817		1,692,862		–		3,939,155		796,126		6,428,143
Chile		300,827		–		2,224,616		626,907		3,152,350		310,247		–		1,629,984		590,346		2,530,577
Brazil		9,037		–		1,632,544		268,174		1,909,755		11,837		–		121,301		168,426		301,564
Mexico		55,729		–		183,334		467,970		707,033		14,040		–		195,420		396,581		606,041
Panama		43,748		–		359,932		229,945		633,625		4,166		–		389,002		68,364		461,532
Canada		5,608		–		108,618		149,235		263,461		31,772		–		29,760		92,571		154,103
Europe:
United Kingdom		191,072		–		10,498		249,702		451,272		64,738		–		53,576		266,628		384,942
France		113,112		–		17,305		120,194		250,611		168,648		–		9,569		136,787		315,004
Spain		13,561		–		6,755		228,626		248,942		23,356		–		14,721		198,504		236,581
Luxembourg		77,777		–		7,474		2,961		88,212		617,676		–		7,020		–		624,696
Switzerland		–		–		1,616		47,974		49,590		4,705		–		166		32,121		36,992
Netherlands		–		–		728		35,014		35,742		–		–		2,247		40,112		42,359
Others in Europe		79,762		–		190,632		75,014		345,408		74,709		–		293,096		92,726		460,531
Others		24,904		83,564		717,501		804,958		1,630,927		62,727		469,980		719,235		943,662		2,195,604
Total		5,620,134		932,734		199,190,749		40,142,638		245,886,255		5,970,324		810,932		184,713,661		37,043,940		228,538,857

(*)

It includes non-trading investments that did not pass SPPI test.

(**)

OCI: Other comprehensive income.

Market Price Change Risk [Member]

Disclosure of financial risk management [line Items]

Results of Sensitivity Analysis Regarding Changes in Interest Rates

The market price sensitivity tests as of December 31, 2024 and 2023 are presented below:

Equity securities
Measured at fair value through other comprehensive income	Change in market prices		2024		2023
	%		S/(000)		S/(000)

Equity securities		+/-10		14,726		33,480
Equity securities		+/-25		36,816		83,700
Equity securities		+/-30		44,179		100,440

Funds
Measured at fair value through profit or loss	Change in market prices		2024		2023
	%		S/(000)		S/(000)

Participation in mutual funds		+/-10		62,216		108,747
Participation in mutual funds		+/-25		155,539		271,867
Participation in mutual funds		+/-30		186,647		326,241
Restricted mutual funds		+/-10		31,820		33,416
Restricted mutual funds		+/-25		79,549		83,541
Restricted mutual funds		+/-30		95,459		100,249
Participation in RAL funds		+/-10		43,250		14,541
Participation in RAL funds		+/-25		108,126		36,354
Participation in RAL funds		+/-30		129,751		43,624
Investment funds		+/-10		140,196		118,071
Investment funds		+/-25		350,489		295,178
Investment funds		+/-30		420,587		354,214
Hedge funds		+/-10		32		29
Hedge funds		+/-25		81		73
Hedge funds		+/-30		97		87
Exchange Trade Funds		+/-10		3,931		2,958
Exchange Trade Funds		+/-25		9,827		7,396
Exchange Trade Funds		+/-30		11,793		8,875

Interest Rate Risk [Member]

Disclosure of financial risk management [line Items]

Concentration of Financial Instruments Exposed to Credit Risk

The table below summarizes the Group’s exposure to interest rate risks. It includes the Group’s financial instruments at carrying amounts, categorized by the earlier of contractual re-pricing or maturity dates, what occurs first:

	2024
	Up to 1 month			1 to 3 months			3 to 12 months		1 to 5 years			More than 5 years			Non-interest bearing			Total
		S/(000)			S/(000)			S/(000)		S/(000)			S/(000)			S/(000)			S/(000)
Assets
Cash and cash collateral, reverse repurchase agreements and securities borrowing		35,573,543			1,085,329			1,609,783		2,012,826			2,342,288			6,064,604			48,688,373
Investments		1,548,776			3,604,634			10,192,970		12,690,421			20,926,450			147,264			49,110,515
Loans, net		19,023,450			17,337,262			40,333,482		46,077,476			16,239,454			(1,273,828	)		137,737,296
Financial assets designated at fair value through or loss		–			–			–		–			–			932,734			932,734
Reinsurance contract assets		841,170			–			–		–			–			–			841,170
Other assets (*)		110,454			–			–		–			74,073			3,675,254			3,859,781
Total assets		57,097,393			22,027,225			52,136,235		60,780,723			39,582,265			9,546,028			241,169,869

Liabilities
Deposits and obligations		30,965,685			20,248,915			35,585,502		47,713,442			26,875,898			452,624			161,842,066
Payables from repurchase agreements and securities lending		3,371,128			6,893,979			4,410,854		1,749,262			3,074,502			315,370			19,815,095
Insurance contract liability		121,965			189,997			582,662		2,149,411			7,271,617			3,106,633			13,422,285
Financial liabilities at fair value through profit or loss		–			–			–		–			–			151,485			151,485
Bonds and Notes issued		2,913,005			2,108,291			3,977,975		5,284,838			2,787,909			196,425			17,268,443
Other liabilities (**)		442,572			–			–		4			101,587			5,220,609			5,764,772
Equity		–			–			–		–			–			34,977,234			34,977,234
Total liabilities and equity		37,814,355			29,441,182			44,556,993		56,896,957			40,111,513			44,420,380			253,241,380

Off-balance-sheet accounts
Derivative financial assets		865,949			508,140			592,591		564,599			–			–			2,531,279
Derivative financial liabilities		1,382,049			112,920			354,289		658,699			–			–			2,507,957
		(516,100	)		395,220			238,302		(94,100	)		–			–			23,322
Marginal gap		18,766,938			(7,018,737	)		7,817,544		3,789,666			(529,248	)		(34,874,352	)		(12,048,189	)
Accumulated gap		18,766,938			11,748,201			19,565,745		23,355,411			22,826,163			(12,048,189	)		–

(*) Made up of financial assets and bank acceptances without considering accounts receivable for trading derivatives.

(**) Made up of financial liabilities and bank acceptances without considering accounts payable for trading derivatives.

Investments for trading purposes are not considered (investments at fair value through profit or loss and trading derivatives), because these instruments are part of the trading book and the Value at Risk methodology is used to measure market risks.

	2023
	Up to 1 month			1 to 3 months			3 to 12 months		1 to 5 years			More than 5 years		Non-interest bearing			Total
		S/(000)			S/(000)			S/(000)		S/(000)			S/(000)		S/(000)			S/(000)

Assets
Cash and cash collateral, reverse repurchase agreements and securities borrowing		13,900,784			1,707,822			3,050,481		8,674,709			273,214		7,734,585			35,341,595
Investment		1,331,553			4,489,604			9,475,564		12,827,007			18,773,061		336,078			47,232,867
Loans, net		19,650,760			16,975,402			38,874,328		46,963,496			14,420,760		(186,611	)		136,698,135
Financial assets designated at fair value through profit or loss		–			–			–		–			–		810,932			810,932
Reinsurance contract assets		872,046			–			–		–			–		–			872,046
Other assets (*)		143,214			7,053			31,753		–			–		2,381,135			2,563,155
Total assets		35,898,357			23,179,881			51,432,126		68,465,212			33,467,035		11,076,119			223,518,730

Liabilities
Deposits and obligations		40,740,255			16,793,946			22,762,047		57,611,088			8,418,281		1,379,377			147,704,994
Payables from repurchase agreements and securities lending		5,987,961			6,344,769			3,477,433		3,238,356			3,026,066		372,523			22,447,108
Insurance contract liability		116,515			178,525			496,768		1,862,006			6,822,694		2,841,625			12,318,133
Financial liabilities at fair value through profit or loss		–			–			–		–			–		641,915			641,915
Bonds and Notes issued		81,635			94,831			5,711,424		7,944,189			603,511		159,195			14,594,785
Other liabilities (**)		497,682			–			2,046		–			–		4,546,082			5,045,810
Equity		–			–			–		–			–		33,107,065			33,107,065
Total liabilities and equity		47,424,048			23,412,071			32,449,718		70,655,639			18,870,552		43,047,782			235,859,810

Off-balance-sheet accounts
Derivative financial assets		72,943			–			676,380		–			–		–			749,323
Derivative financial liabilities		630,109			401,730			54,849		1,936,331			–		–			3,023,019
		(557,166	)		(401,730	)		621,531		(1,936,331	)		–		–			(2,273,696	)
Marginal gap		(12,082,857	)		(633,920	)		19,603,939		(4,126,758	)		14,596,483		(31,971,663	)		(14,614,776	)
Accumulated gap		(12,082,857	)		(12,716,777	)		6,887,162		2,760,404			17,356,887		(14,614,776	)		–

(*) Made up of financial assets and bank acceptances without considering accounts receivable for trading derivatives.

(**) Made up of financial liabilities and bank acceptances without considering accounts payable for trading derivatives.