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Note 25 - Provisions
 12 Months Ended
Dec. 31, 2018
Provisions Abstract  
Disclosure of Provisions

25. Provisions

  • Financial guarantees and loan commitments: reflects the expected credit loss arising from financial guarantees issued, unused balances of checking account overdrafts, credit cards and other loan commitments.
  • Other provisions: reflects the estimated amounts to pay class actions, labour, tax and commercial claims as well as other miscellaneous complaints.

December 31, 2018December 31, 2017January 1, 2017
Financial guarantees and loan commitments issued358,3291,6491,071
Other provisions1,349,7871,318,1311,581,971
TOTAL1,708,1161,319,7801,583,042

Changes in the item for fiscal year 2018 and 2017 are included below:

AccountsBalances as of December 31, 2017Adoption of IFRS 9 (Note 11)IncreasesUsesBalances as of December 31, 2018
- Financial guarantees and loan commitments1,649617,59737,274(298,191)358,329
- Other provisions1,318,131-621,222(589,566)1,349,787
TOTAL PROVISIONS1,319,780617,597658,496(887,757)1,708,116

AccountsBalances as of January 1, 2017IncreasesReversalsUsesBalances as of December 31, 2017
- Financial guarantees and loan commitments issued1,071791-(213)1,649
- Other provisions1,581,971401,954(195,171)(470,623)1,318,131
TOTAL PROVISIONS1,583,042402,745(195,171)(470,836)1,319,780

The expected terms to settle these obligations are as follows:

December 31, 2018
ProvisionsWithin 12 monthsAfter 12 months
For financial guarantees and loan commitments350,7897,540
Other 611,997737,790
December 31, 2017
ProvisionsWithin 12 monthsAfter 12 months
For financial guarantees and loan commitments1,649-
Other 1,016,044302,087
January 1, 2017
ProvisionsWithin 12 monthsAfter 12 months
For financial guarantees and loan commitments1,071-
Other 1,167,800414,171

In the opinion of the Bank’s Board of Directors and its legal advisors, there are no other significant effects other than those stated in these financial statements, the amounts and repayment terms of which have been recorded based on the actual value of those estimates, considering the probable date of their final resolution.