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Loans, net (Tables)
12 Months Ended
Dec. 31, 2023
Disclosure of financial assets [abstract]  
Summary of loans receivables
  (a)
This caption is made up as follows:
 
    
2023
    
2022
 
     S/(000)      S/(000)  
Direct loans
     
Loans (*)
     35,789,130        35,977,734  
Credit cards and other loans (**)
     6,023,769        6,239,314  
Discounted notes
     1,567,411        894,588  
Leasing
     1,495,290        1,174,542  
Factoring
     1,244,795        1,011,496  
Advances and overdrafts
     14,617        38,763  
Refinanced loans
     461,995        322,941  
Past due and under legal collection loans
     1,652,151        1,365,972  
  
 
 
    
 
 
 
     48,249,158        47,025,350  
  
 
 
    
 
 
 
Plus (minus)
     
Accrued interest from performing loans (f)
     657,355        527,615  
Unearned interest and interest collected in advance
     (36,706      (22,112
Impairment allowance for loans (d)
     (2,349,425      (2,027,855
  
 
 
    
 
 
 
Total direct loans, net
     46,520,382        45,502,998  
  
 
 
    
 
 
 
Indirect loans, Note 18(a)
     4,743,480        4,487,347  
  
 
 
    
 
 
 
Summary of classification of direct loan portfolio
  (b)
The classification of the direct loan portfolio is as follows:
 
    
2023
    
2022
 
     S/(000)      S/(000)  
Commercial loans (c.1)
     21,155,476        21,412,126  
Consumer loans (c.1)
     16,325,460        14,967,799  
Mortgage loans (c.1)
     9,834,398        9,286,944  
Small and micro-business loans (c.1)
     933,824        1,358,481  
  
 
 
    
 
 
 
Total
     48,249,158        47,025,350  
  
 
 
    
 
 
 
Summary of credit quality and maximum exposure to credit risk
  (c)
The following table shows the credit quality and maximum exposure to credit risk based on the Group’s internal credit rating as of December 31, 2023 and 2022. The amounts presented do not consider impairment.
 
    
2023
    
2022
 
Direct loans, (c.1)
  
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)  
Not impaired
                       
High grade
     35,098,364        1,068,674        —         36,167,038        35,613,991        1,111,421        —         36,725,412  
Standard grade
     2,832,251        1,510,897        —         4,343,148        4,282,904        835,217        —         5,118,121  
Sub-standard grade
     1,367,503        1,450,751        —         2,818,254        776,603        940,391        —         1,716,994  
Past due but not impaired
     1,949,892        1,460,138        —         3,410,030        1,124,557        1,150,139        —         2,274,696  
Impaired
                       
Individually
     —         —         36,257        36,257        —         —         45,907        45,907  
Collectively
     —         —         1,474,431        1,474,431        —         —         1,144,220        1,144,220  
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
 
Total direct loans
     41,248,010        5,490,460        1,510,688        48,249,158        41,798,055        4,037,168        1,190,127        47,025,350  
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
 
 
    
2023
    
2022
 
Contingent Credits: Guarantees
and stand-by letters, import and
export letters of credit (substantially,
all indirect loans correspond to
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)  
Not impaired
                       
High grade
     3,988,999        457,518        —         4,446,517        3,945,307        402,336        —         4,347,643  
Standard grade
     32,433        214,806        —         247,239        12,083        39,541        —         51,624  
Sub-standard grade
     2,823        31,101        —         33,924        2,051        59,953        —         62,004  
Past due but not impaired
     —         —         —         —         —         —         —         —   
Impaired
                       
Individually
     —         —         6,181        6,181        —         —         9,330        9,330  
Collectively
     —         —         9,619        9,619        —         —         16,746        16,746  
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
 
Total indirect loans
     4,024,255          703,425          15,800         4,743,480         3,959,441          501,830           26,076         4,487,347  
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
 
 
  (c.1)
The following tables show the credit quality and maximum exposure to credit risk for each classification of the direct loans:
 
    
2023
    
2022
 
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)  
Not impaired
                       
High grade
     14,979,356        855,890        —         15,835,246        16,213,146        914,480        —         17,127,626  
Standard grade
     1,347,961        1,013,803        —         2,361,764        1,991,637        230,180        —         2,221,817  
Sub-standard grade
     450,577        314,063        —         764,640        380,679        171,648        —         552,327  
Past due but not impaired
     1,431,064        364,603        —         1,795,667        704,067        398,185        —         1,102,252  
Impaired
                       
Individually
     —         —         36,257        36,257        —         —         45,907        45,907  
Collectively
     —         —         361,902        361,902        —         —         362,197        362,197  
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
 
Total direct loans
     18,208,958        2,548,359        398,159        21,155,476        19,289,529        1,714,493        408,104        21,412,126  
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
 
 
    
2023
    
2022
 
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)  
Not impaired
                       
High grade
     11,475,514        199,501        —         11,675,015        11,331,807        181,066        —         11,512,873  
Standard grade
     945,060        452,811        —         1,397,871        1,139,837        579,625        —         1,719,462  
Sub-standard grade
     717,526        755,121        —         1,472,647        60,415        542,841        —         603,256  
Past due but not impaired
     217,712        829,119        —         1,046,831        153,865        526,042        —         679,907  
Impaired
                       
Individually
     —         —         —         —         —         —         —         —   
Collectively
     —         —         733,096        733,096        —         —         452,301        452,301  
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
 
Total direct loans
     13,355,812        2,236,552        733,096        16,325,460        12,685,924        1,829,574        452,301        14,967,799  
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
 
 
    
2023
    
2022
 
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)  
Not impaired
                       
High grade
     8,093,031        13,283        —         8,106,314        7,490,495        1,033        —         7,491,528  
Standard grade
     433,968        17,124        —         451,092        667,599        15,411        —         683,010  
Sub-standard grade
     193,340        348,274        —         541,614        334,967        200,226        —         535,193  
Past due but not impaired
     261,100        200,873        —         461,973        205,728        132,958        —         338,686  
Impaired
                       
Individually
     —         —         —         —         —         —         —         —   
Collectively
     —         —         273,405        273,405        —         —         238,527        238,527  
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
 
Total direct loans
     8,981,439        579,554        273,405        9,834,398        8,698,789        349,628        238,527        9,286,944  
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
 
 
                 
                 
                 
                 
                 
                 
                 
                 
    
2023
    
2022
 
Small and micro-business 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)
 
Not impaired
                       
High grade
  
 
550,463
 
  
 
— 
 
  
 
— 
 
  
 
550,463
 
  
 
578,543
 
  
 
14,842
 
  
 
— 
 
  
 
593,385
 
Standard grade
  
 
105,262
 
  
 
27,159
 
  
 
— 
 
  
 
132,421
 
  
 
483,831
 
  
 
10,001
 
  
 
— 
 
  
 
493,832
 
Sub-standard grade
  
 
6,060
 
  
 
33,293
 
  
 
— 
 
  
 
39,353
 
  
 
542
 
  
 
25,676
 
  
 
— 
 
  
 
26,218
 
Past due but not impaired
  
 
40,016
 
  
 
65,543
 
  
 
— 
 
  
 
105,559
 
  
 
60,897
 
  
 
92,954
 
  
 
— 
 
  
 
153,851
 
Impaired
                       
Individually
  
 
— 
 
  
 
— 
 
  
 
— 
 
  
 
— 
 
  
 
— 
 
  
 
— 
 
  
 
— 
 
  
 
— 
 
Collectively
  
 
— 
 
  
 
— 
 
  
 
106,028
 
  
 
106,028
 
  
 
— 
 
  
 
— 
 
  
 
91,195
 
  
 
91,195
 
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
 
Total direct loans
  
 
701,801
 
  
 
125,995
 
  
 
106,028
 
  
 
933,824
 
  
 
1,123,813
 
  
 
143,473
 
  
 
91,195
 
  
 
1,358,481
 
  
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
 
Reconciliation of changes in allowance account for credit losses of loans receivable
  (d.1)
Direct loans
 
    
2023
   
2022
 
Gross carrying amount of
direct 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)  
Beginning of year balances
     41,798,055       4,037,168       1,190,127       47,025,350       40,522,481       2,853,565       1,312,176       44,688,222  
New originated or purchased assets
     22,372,321       —        —        22,372,321       22,393,323       —        —        22,393,323  
Assets matured or derecognized (excluding write-offs)
     (14,406,950     (977,654     (72,977     (15,457,581     (14,636,477     (1,194,405     (429,348     (16,260,230
Transfers to Stage 1
     762,554       (760,269     (2,285     —        1,019,478       (1,014,657     (4,821     —   
Transfers to Stage 2
     (4,664,954     4,706,631       (41,677     —        (3,131,710     3,161,335       (29,625     —   
Transfers to Stage 3
     (1,235,354     (1,054,563     2,289,917       —        (401,017     (317,282     718,299       —   
Write-offs
     —        —        (1,714,968     (1,714,968     —        —        (960,918     (960,918
Others (*)
     (3,217,003     (449,390     (131,273     (3,797,666     (3,383,889     575,338       590,017       (2,218,534
Foreign exchange effect
     (160,659     (11,463     (6,176     (178,298     (584,134     (26,726     (5,653     (616,513
  
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
End of year balances
     41,248,010       5,490,460       1,510,688       48,249,158       41,798,055       4,037,168       1,190,127       47,025,350  
  
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
 
                                                                                                                                               
    
2023
   
2022
 
Changes in the allowance for expected
credit losses for direct loans, see (d.1.1)
  
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)
 
Expected credit loss at the beginning of year balances
  
 
608,558
 
 
 
737,286
 
 
 
682,011
 
 
 
2,027,855
 
 
 
956,456
 
 
 
404,881
 
 
 
703,580
 
 
 
2,064,917
 
  
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
Impact of the expected credit loss in the consolidated statement of income -
                
New originated or purchased assets
  
 
624,484
 
 
 
— 
 
 
 
— 
 
 
 
624,484
 
 
 
503,454
 
 
 
— 
 
 
 
— 
 
 
 
503,454
 
Assets matured or derecognized (excluding write-offs)
  
 
(147,086
 
 
(66,329
 
 
(25,445
 
 
(238,860
 
 
(173,872
 
 
(237,110
 
 
(302,861
 
 
(713,843
Transfers to Stage 1
  
 
106,745
 
 
 
(104,939
 
 
(1,806
 
 
— 
 
 
 
166,755
 
 
 
(163,090
 
 
(3,665
 
 
— 
 
Transfers to Stage 2
  
 
(327,728
 
 
339,051
 
 
 
(11,323
 
 
— 
 
 
 
(259,226
 
 
268,700
 
 
 
(9,474
 
 
— 
 
Transfers to Stage 3
  
 
(163,156
 
 
(269,881
 
 
433,037
 
 
 
— 
 
 
 
(74,178
 
 
(88,551
 
 
162,729
 
 
 
— 
 
Impact on the expected credit loss for credits that change stage in the year (***)
  
 
(90,594
 
 
259,309
 
 
 
1,407,191
 
 
 
1,575,906
 
 
 
(129,388
 
 
176,416
 
 
 
340,244
 
 
 
387,272
 
Others (**)
  
 
(65,775
 
 
(60,358
 
 
163,834
 
 
 
37,701
 
 
 
(382,355
 
 
375,448
 
 
 
666,581
 
 
 
659,674
 
  
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
Total
  
 
(63,110
 
 
96,853
 
 
 
1,965,488
 
 
 
1,999,231
 
 
 
(348,810
 
 
331,813
 
 
 
853,554
 
 
 
836,557
 
Write-offs
  
 
— 
 
 
 
— 
 
 
 
(1,813,670
 
 
(1,813,670
 
 
— 
 
 
 
— 
 
 
 
(1,021,539
 
 
(1,021,539
Recovery of written–off loans
  
 
— 
 
 
 
— 
 
 
 
138,886
 
 
 
138,886
 
 
 
— 
 
 
 
— 
 
 
 
155,070
 
 
 
155,070
 
Foreign exchange effect
  
 
(206
 
 
(227
 
 
(2,444
 
 
(2,877
 
 
912
 
 
 
592
 
 
 
(8,654
 
 
(7,150
  
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
Expected credit loss at the end of year balances
  
 
545,242
 
 
 
833,912
 
 
 
970,271
 
 
 
2,349,425
 
 
 
608,558
 
 
 
737,286
 
 
 
682,011
 
 
 
2,027,855
 
  
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
 
(*)
Corresponds mainly to: (i) the variation between the amortized cost of the loan at the beginning of the year and its amortized cost at the end of the year (partial amortizations that did not represent a reduction or derecognized of the loan), and (ii) the execution of contingent loans (conversion of indirect debt into direct debt).
(**)
Corresponds mainly to: (i) the variation between the amortized cost of the loan at the beginning of the year and its amortized cost at the end of the year (variation in the provision recorded for partial amortizations that did not represent a reduction or derecognized of the loan), (ii) variations in credit risk that did not generate transfers to other stages; and (iii) the execution of contingent loans (conversion of indirect debt into direct debt).
(***)
The Group applied its expert judgement with the purpose of reflecting the effects of the possible impact of the El Niño event during 2023, and the political and economic uncertainty during 2022, that were not considered in the forward-looking model, that led to incur in a higher provision for expected loss, see Note 29.1(d.7).
 
  (d.1.1)
The following tables show the movement of the allowance for expected credit losses for each classification of the direct loan portfolio:
 
                                                                                                                               
    
2023
   
2022
 
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)
 
Expected credit loss at beginning of year
  
 
45,474
 
 
 
47,311
 
 
 
154,299
 
 
 
247,084
 
 
 
100,874
 
 
 
60,100
 
 
 
182,467
 
 
 
343,441
 
  
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
Impact of the expected credit loss in the consolidated statement of income -
                
New originated or purchased assets
  
 
47,129
 
 
 
— 
 
 
 
— 
 
 
 
47,129
 
 
 
33,506
 
 
 
— 
 
 
 
— 
 
 
 
33,506
 
Assets derecognized or matured (excluding write-offs)
  
 
(26,668
 
 
(10,113
 
 
(2,924
 
 
(39,705
 
 
(18,984
 
 
(37,865
 
 
(92,529
 
 
(149,378
Transfers to Stage 1
  
 
2,920
 
 
 
(2,687
 
 
(233
 
 
— 
 
 
 
41,140
 
 
 
(40,152
 
 
(988
 
 
— 
 
Transfers to Stage 2
  
 
(27,598
 
 
30,826
 
 
 
(3,228
 
 
— 
 
 
 
(15,952
 
 
16,311
 
 
 
(359
 
 
— 
 
Transfers to Stage 3
  
 
(10,620
 
 
(16,046
 
 
26,666
 
 
 
— 
 
 
 
(6,603
 
 
(48,516
 
 
55,119
 
 
 
— 
 
Impact on the expected credit loss for credits that change stage in the year (**)
  
 
(1,988
 
 
7,333
 
 
 
40,748
 
 
 
46,093
 
 
 
(31,403
 
 
4,752
 
 
 
16,864
 
 
 
(9,787
Others (*)
  
 
23,154
 
 
 
8,006
 
 
 
6,579
 
 
 
37,739
 
 
 
(57,822
 
 
91,880
 
 
 
63,218
 
 
 
  97,276
 
  
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
Total
  
 
6,329
 
 
 
17,319
 
 
 
67,608
 
 
 
91,256
 
 
 
(56,118
 
 
(13,590
 
 
41,325
 
 
 
(28,383
Write-offs
  
 
— 
 
 
 
— 
 
 
 
(62,960
 
 
(62,960
 
 
— 
 
 
 
— 
 
 
 
(68,362
 
 
(68,362
Recovery of written–off loans
  
 
— 
 
 
 
— 
 
 
 
5,189
 
 
 
5,189
 
 
 
— 
 
 
 
— 
 
 
 
5,942
 
 
 
5,942
 
Foreign exchange effect
  
 
(192
 
 
(160
 
 
(1,751
 
 
(2,103
 
 
718
 
 
 
801
 
 
 
(7,073
 
 
(5,554
  
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
Expected credit loss at end of year
  
 
51,611
 
 
 
64,470
 
 
 
162,385
 
 
 
278,466
 
 
 
45,474
 
 
 
47,311
 
 
 
154,299
 
 
 
247,084
 
  
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
 
    
2023
   
2022
 
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)  
Expected credit loss at beginning of year
     534,005       657,474       430,902       1,622,381       802,421       263,219       336,041       1,401,681  
  
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
Impact of the expected credit loss in the consolidated statement of income -
                
New originated or purchased assets
     552,847       —        —        552,847       438,109       —        —        438,109  
Assets derecognized or matured (excluding write-offs)
     (98,984     (54,036     (10,863     (163,883     (141,201     (144,553     (100,740     (386,494
Transfers to Stage 1
     95,173       (93,918     (1,255     —        44,453       (43,487     (966     —   
Transfers to Stage 2
     (282,373     287,164       (4,791     —        (229,316     234,062       (4,746     —   
Transfers to Stage 3
     (135,476     (231,432     366,908       —        (59,129     (13,433     72,562       —   
Impact on the expected credit loss for credits that change stage in the year (**)
     (81,051     221,421       1,263,515       1,403,885       (35,112     163,681       293,678       422,247  
Others (*)
     (117,534     (73,259     162,060       (28,733     (286,212     198,393       580,849       493,030  
  
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
Total
     (67,398     55,940       1,775,574       1,764,116       (268,408     394,663       840,637       966,892  
Write-offs
     —        —        (1,647,576     (1,647,576     —        —        (886,200     (886,200
Recovery of written–off loans
     —        —        123,679       123,679       —        —        140,438       140,438  
Foreign exchange effect
     (1     (53     (162     (216     (8     (408     (14     (430
  
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
Expected credit loss at end of year
     466,606       713,361       682,417       1,862,384       534,005       657,474       430,902       1,622,381  
  
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
 
(*)
Corresponds mainly to: (i) the variation between the amortized cost of the loan at the beginning of the year and its amortized cost at the end of the year (variation in the provision recorded for partial amortizations that did not represent a reduction or derecognized of the loan), (ii) variations in credit risk that did not generate transfers to other stages; and (iii) the execution of contingent loans (conversion of indirect debt into direct debt).
(**)
The Group applied its expert judgement with the purpose of reflecting the effects of the possible impact of the El Niño event during 2023, and the political and economic uncertainty during 2022, that were not considered in the forward-looking model, that led to incur in a higher provision for expected loss, see Note 29.1(d.7).
 
                                                                                                               
    
2023
   
2022
 
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)
 
Expected credit loss at beginning of year
  
 
4,236
 
 
 
12,285
 
 
 
45,101
 
 
 
61,622
 
 
 
12,669
 
 
 
42,681
 
 
 
99,850
 
 
 
155,200
 
  
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
Impact of the expected credit loss in the consolidated statement of income -
                
New originated or purchased assets
  
 
3,949
 
 
 
— 
 
 
 
— 
 
 
 
3,949
 
 
 
1,473
 
 
 
— 
 
 
 
— 
 
 
 
1,473
 
Assets derecognized or matured (excluding write-offs)
  
 
(181
 
 
(833
 
 
(10,625
 
 
(11,639
 
 
(435
 
 
(763
 
 
(10,957
 
 
(12,155
Transfers to Stage 1
  
 
6,414
 
 
 
(6,414
 
 
— 
 
 
 
— 
 
 
 
6,103
 
 
 
(6,103
 
 
— 
 
 
 
— 
 
Transfers to Stage 2
  
 
(2,052
 
 
5,115
 
 
 
(3,063
 
 
— 
 
 
 
(778
 
 
4,871
 
 
 
(4,093
 
 
— 
 
Transfers to Stage 3
  
 
(1,915
 
 
(2,423
 
 
4,338
 
 
 
— 
 
 
 
(467
 
 
(1,254
 
 
1,721
 
 
 
— 
 
Impact on the expected credit loss for credits that change stage in the year (**)
  
 
(5,956
 
 
15,996
 
 
 
20,982
 
 
 
31,022
 
 
 
(5,871
 
 
4,342
 
 
 
11,518
 
 
 
9,989
 
Others (*)
  
 
2,312
 
 
 
2,040
 
 
 
2,018
 
 
 
6,370
 
 
 
(8,663
 
 
(31,688
 
 
(49,097
 
 
(89,448
  
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
Total
  
 
2,571
 
 
 
13,481
 
 
 
13,650
 
 
 
29,702
 
 
 
(8,638
 
 
(30,595
 
 
(50,908
 
 
(90,141
Write-offs
  
 
— 
 
 
 
— 
 
 
 
(3,580
 
 
(3,580
 
 
— 
 
 
 
— 
 
 
 
(2,267
 
 
(2,267
Recovery of written–off loans
  
 
— 
 
 
 
— 
 
 
 
— 
 
 
 
— 
 
 
 
— 
 
 
 
— 
 
 
 
— 
 
 
 
— 
 
Foreign exchange effect
  
 
(13
 
 
(13
 
 
(520
 
 
(546
 
 
205
 
 
 
199
 
 
 
(1,574
 
 
(1,170
  
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
Expected credit loss at end of year
  
 
6,794
 
 
 
25,753
 
 
 
54,651
 
 
 
87,198
 
 
 
4,236
 
 
 
12,285
 
 
 
45,101
 
 
 
 61,622
 
  
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
 
    
2023
   
2022
 
Small and micro-business 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)  
Expected credit loss at beginning of year
     24,843       20,216       51,709       96,768       40,492       38,881       85,222       164,595  
  
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
Impact of the expected credit loss in the consolidated statement of income -
                
New originated or purchased assets
     20,559       —        —        20,559       30,366       —        —        30,366  
Assets derecognized or matured (excluding write-offs)
     (21,253     (1,347     (1,033     (23,633     (13,252     (53,929     (98,635     (165,816
Transfers to Stage 1
     2,238       (1,920     (318     —        75,059       (73,348     (1,711     —   
Transfers to Stage 2
     (15,705     15,946       (241     —        (13,180     13,456       (276     —   
Transfers to Stage 3
     (15,145     (19,980     35,125       —        (7,979     (25,348     33,327       —   
Impact on the expected credit loss for credits that change stage in the year (**)
     (1,599     14,559       81,946       94,906       (57,002     3,641       18,184       (35,177
Others (*)
     26,293       2,855       (6,823     22,325       (29,658     116,863       71,611       158,816  
  
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
Total
     (4,612     10,113       108,656       114,157       (15,646     (18,665     22,500       (11,811
Write-offs
     —        —        (99,554     (99,554     —        —        (64,710     (64,710
Recovery of written–off loans
     —        —        10,018       10,018       —        —        8,690       8,690  
Foreign exchange effect
     —        (1     (11     (12     (3     —        7       4  
  
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
Expected credit loss at end of year
     20,231       30,328       70,818       121,377       24,843       20,216       51,709       96,768  
  
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
 
(*)
Corresponds mainly to: (i) the variation between the amortized cost of the loan at the beginning of the year and its amortized cost at the end of the year (variation in the provision recorded for partial amortizations that did not represent a reduction or derecognized of the loan), (ii) variations in credit risk that did not generate transfers to other stages; and (iii) the execution of contingent loans (conversion of indirect debt into direct debt).
(**)
The Group applied its expert judgement with the purpose of reflecting the effects of the possible impact of the El Niño event during 2023, and the political and economic uncertainty during 2022, that were not considered in the forward-looking model, that led to incur in a higher provision for expected loss, see Note 29.1(d.7).
 
  (d.2)
Indirect loans (substantially, all indirect loans correspond to commercial loans)
 
   
2023
   
2022
 
Gross carrying amount of contingent credits, guarantees and
stand-by
letters, import and export letters of credit
 
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)  
Beginning of year balances
    3,959,441       501,830       26,076       4,487,347       3,984,362       431,039       25,057       4,440,458  
New originated or purchased assets
    2,122,067       —        —        2,122,067       1,829,985       —        —        1,829,985  
Assets derecognized or matured
    (1,606,539     (135,042     (1,784     (1,743,365     (1,470,891     (168,603     (9,627     (1,649,121
Transfers to Stage 1
    30,259       (30,259     —        —        25,315       (25,315     —        —   
Transfers to Stage 2
    (392,176     407,454       (15,278     —        (258,992     258,992       —        —   
Transfers to Stage 3
    (12     (6,687     6,699       —        (633     (10,035     10,668       —   
Others (*)
    (54,162     (26,950     92       (81,020     (58,323     25,454       (22     (32,891
Foreign exchange effect
    (34,623     (6,921     (5     (41,549     (91,382     (9,702     —        (101,084
 
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
End of year balances
    4,024,255       703,425       15,800       4,743,480       3,959,441       501,830       26,076       4,487,347  
 
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
 
                                                                                                                                       
   
2023
   
2022
 
Changes in the allowance for expected credit
losses for contingent credits, guarantees and
stand-by letters, import and export letters of credit
 
Stage 1

S(000)
   
Stage 2

S(000)
   
Stage 3

S(000)
   
Total

S(000)
   
Stage 1

S(000)
   
Stage 2

S(000)
   
Stage 3

S(000)
   
Total

S(000)
 
Expected credit loss at beginning of year balances
 
 
8,354
 
 
 
18,205
 
 
 
8,936
 
 
 
35,495
 
 
 
8,594
 
 
 
18,492
 
 
 
13,243
 
 
 
40,329
 
 
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
Impact of the expected credit loss in the consolidated statement of income -
               
New originated or purchased assets
 
 
4,770
 
 
 
— 
 
 
 
— 
 
 
 
4,770
 
 
 
5,615
 
 
 
— 
 
 
 
— 
 
 
 
5,615
 
Assets derecognized or matured
 
 
(1,988
 
 
(4,205
 
 
(631
 
 
(6,824
 
 
(4,838
 
 
(2,016
 
 
(6,241
 
 
(13,095
Transfers to Stage 1
 
 
180
 
 
 
(180
 
 
— 
 
 
 
— 
 
 
 
109
 
 
 
(109
 
 
— 
 
 
 
— 
 
Transfers to Stage 2
 
 
(1,986
 
 
3,626
 
 
 
(1,640
 
 
— 
 
 
 
(854
 
 
854
 
 
 
— 
 
 
 
— 
 
Transfers to Stage 3
 
 
(1
 
 
(50
 
 
51
 
 
 
— 
 
 
 
(57
 
 
(171
 
 
228
 
 
 
— 
 
Impact on the expected credit loss for credits that change stage in the year
 
 
(57
 
 
(837
 
 
684
 
 
 
(210
 
 
(47
 
 
585
 
 
 
623
 
 
 
1,161
 
Others (**)
 
 
(2,521
 
 
(12,600
 
 
(28
 
 
(15,149
 
 
(274
 
 
(467
 
 
1,054
 
 
 
313
 
 
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
Total
 
 
(1,603
 
 
(14,246
 
 
(1,564
 
 
(17,413
 
 
(346
 
 
(1,324
 
 
(4,336
 
 
(6,006
Foreign exchange effect
 
 
(127
 
 
(20
 
 
(3
 
 
(150
 
 
106
 
 
 
1,037
 
 
 
29
 
 
 
1,172
 
 
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
Expected credit loss at the end of year balances, Note 10(a)
 
 
6,624
 
 
 
3,939
 
 
 
7,369
 
 
 
17,932
 
 
 
8,354
 
 
 
18,205
 
 
 
8,936
 
 
 
35,495
 
 
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
 
(*)
Corresponds mainly to: (i) the variation between the amortized cost of the loan at the beginning of the year and its amortized cost at the end of the year (partial amortizations that did not represent a reduction or derecognized of the loan), and (ii) the execution of contingent loans (conversion of indirect debt into direct debt).
(**)
Corresponds mainly to: (i) the variation between the amortized cost of the loan at the beginning of the year and its amortized cost at the end of the year (variation in the provision recorded for partial amortizations that did not represent a reduction or derecognized of the loan), (ii) variations in credit risk that did not generate transfers to other stages; and (iii) the execution of contingent loans (conversion of indirect debt into direct debt).
Summary of loan portfolio classified by maturity dates
  (i)
The table below presents the maturity of the direct loan portfolio without including accrued interest, interest to be accrued and interest collected in advance as of December 31, 2023 and 2022:
 
    
2023
    
2022
 
     S/(000)      S/(000)  
Outstanding
     
Up to 1 month
     4,461,634        4,945,881  
From 1 to 3 months
     5,781,509        5,708,262  
From 3 months to 1 year
     10,831,137        10,220,204  
From 1 to 5 years
     19,500,481        18,916,603  
Over 5 years
     6,022,246        5,868,428  
  
 
 
    
 
 
 
     46,597,007        45,659,378  
 
    
2023
    
2022
 
     S/(000)      S/(000)  
Past due and under legal collection loans, see (i.1)
     
Up to 4 months
     484,808        423,906  
Over 4 months
     697,246        401,508  
Under legal collection
     470,097        540,558  
  
 
 
    
 
 
 
     48,249,158        47,025,350  
  
 
 
    
 
 
 
 
  (i.1)
The tables below present past due and under legal collection loans for each classification of the direct loan portfolio:
 
    
2023
    
2022
 
     S/(000)      S/(000)  
Commercial loans
     
Up to 4 months
     98,263        150,607  
Over 4 months
     143,170        106,081  
Under legal collection
     228,809        245,786  
  
 
 
    
 
 
 
     470,242        502,474  
  
 
 
    
 
 
 
Consumer loans
     
Up to 4 months
     284,954        143,867  
Over 4 months
     401,164        220,226  
Under legal collection
     78,290        108,162  
  
 
 
    
 
 
 
     764,408        472,255  
  
 
 
    
 
 
 
Mortgage loans
     
Up to 4 months
     35,934        30,484  
Over 4 months
     94,568        48,316  
Under legal collection
     140,018        155,587  
  
 
 
    
 
 
 
     270,520        234,387  
  
 
 
    
 
 
 
Small and micro-business loans
     
Up to 4 months
     65,657        98,948  
Over 4 months
     58,344        26,885  
Under legal collection
     22,980        31,023  
  
 
 
    
 
 
 
     146,981        156,856  
  
 
 
    
 
 
 
  (k)
The following tables present the maturities of direct and indirect loans of Stages 2 and 3 as of December 31, 2023 and 2022, as follows:
 
   
Stage 2: Loans with maturity longer or shorter than 30 days, regardless of the criteria that caused their classification into Stage 2.
 
   
Stage 3: Loans with maturity longer or shorter than 90 days, regardless of the criteria that caused their classification into Stage 3.
 
   
2023
   
2022
 
 
Stage 2
   
Stage 3
   
Total
   
Stage 2
   
Stage 3
   
Total
 
   
Gross
amount
   
Expected
loss
   
Gross
amount
   
Expected
loss
   
Gross
amount
   
Expected
loss
   
Gross
amount
   
Expected
loss
   
Gross
amount
   
Expected
loss
   
Gross
amount
   
Expected
loss
 
    S/(000)     S/(000)     S/(000)     S/(000)     S/(000)     S/(000)     S/(000)     S/(000)     S/(000)     S/(000)     S/(000)     S/(000)  
Maturity shorter than:
                       
30 days
    5,400,087       609,406       —        —        5,400,087       609,406       3,934,328       595,372       —        —        3,934,328       595,372  
90 days
    —        —        16,219       14,888       16,219       14,888       —        —        1,816       1,583       1,816       1,583  
Maturity longer than:
                       
30 days
    793,798       228,445       —        —        793,798       228,445       604,670       160,119       —        —        604,670       160,119  
90 days
    —        —        1,510,269       962,752       1,510,269       962,752       —        —        1,214,387       689,364       1,214,387       689,364  
 
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
Total
    6,193,885       837,851       1,526,488       977,640       7,720,373       1,815,491       4,538,998       755,491       1,216,203       690,947       5,755,201       1,446,438  
 
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
 
  (k.1)
The following tables present the maturities of direct and indirect loans of Stages 2 and 3 as of December 31, 2023 and 2022, for each classification:
 
                                                                                                                                                                                               
   
2023
   
2022
 
 
Stage 2
   
Stage 3
   
Total
   
Stage 2
   
Stage 3
   
Total
 
Commercial loans
 
Gross
amount
   
Expected
loss
   
Gross
amount
   
Expected
loss
   
Gross
amount
   
Expected
loss
   
Gross
amount
   
Expected
loss
   
Gross
amount
   
Expected
loss
   
Gross
amount
   
Expected
loss
 
   
S/(000)
   
S/(000)
   
S/(000)
   
S/(000)
   
S/(000)
   
S/(000)
   
S/(000)
   
S/(000)
   
S/(000)
   
S/(000)
   
S/(000)
   
S/(000)
 
Maturity shorter than:
                       
30 days
 
 
3,155,267
 
 
 
60,877
 
 
 
— 
 
 
 
— 
 
 
 
3,155,267
 
 
 
60,877
 
 
 
2,089,059
 
 
 
60,403
 
 
 
— 
 
 
 
— 
 
 
 
2,089,059
 
 
 
60,403
 
90 days
 
 
— 
 
 
 
— 
 
 
 
2,686
 
 
 
2,259
 
 
 
2,686
 
 
 
2,259
 
 
 
— 
 
 
 
— 
 
 
 
250
 
 
 
214
 
 
 
250
 
 
 
214
 
Maturity longer than:
                       
30 days
 
 
96,517
 
 
 
7,532
 
 
 
— 
 
 
 
— 
 
 
 
96,517
 
 
 
7,532
 
 
 
127,264
 
 
 
5,113
 
 
 
— 
 
 
 
— 
 
 
 
127,264
 
 
 
5,113
 
90 days
 
 
— 
 
 
 
— 
 
 
 
411,273
 
 
 
167,495
 
 
 
411,273
 
 
 
167,495
 
 
 
— 
 
 
 
— 
 
 
 
433,930
 
 
 
163,021
 
 
 
433,930
 
 
 
163,021
 
 
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
Total
 
 
3,251,784
 
 
 
68,409
 
 
 
413,959
 
 
 
169,754
 
 
 
3,665,743
 
 
 
238,163
 
 
 
2,216,323
 
 
 
65,516
 
 
 
434,180
 
 
 
163,235
 
 
 
2,650,503
 
 
 
228,751
 
 
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
 
   
2023
   
2022
 
 
Stage 2
   
Stage 3
   
Total
   
Stage 2
   
Stage 3
   
Total
 
Consumer loans
 
Gross
amount
   
Expected
loss
   
Gross
amount
   
Expected
loss
   
Gross
amount
   
Expected
loss
   
Gross
amount
   
Expected
loss
   
Gross
amount
   
Expected
loss
   
Gross
amount
   
Expected
loss
 
    S/(000)     S/(000)     S/(000)     S/(000)     S/(000)     S/(000)     S/(000)     S/(000)     S/(000)     S/(000)     S/(000)     S/(000)  
Maturity shorter than:
                       
30 days
    1,700,558       508,045       —        —        1,700,558       508,045       1,500,325       511,105       —        —        1,500,325       511,105  
90 days
    —        —        10,295       9,883       10,295       9,883       —        —        1,356       1,194       1,356       1,194  
Maturity longer than:
                       
30 days
    535,994       205,316       —        —        535,994       205,316       329,249       146,369       —        —        329,249       146,369  
90 days
    —        —        722,801       672,534       722,801       672,534       —        —        450,945       429,708       450,945       429,708  
 
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
Total
    2,236,552       713,361       733,096       682,417       2,969,648       1,395,778       1,829,574       657,474       452,301       430,902       2,281,875       1,088,376  
 
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
Disclosure Of Maturity Analysis For Financial Liabilities
                                                                                                                                                                                               
   
2023
   
2022
 
 
Stage 2
   
Stage 3
   
Total
   
Stage 2
   
Stage 3
   
Total
 
Mortgage loans
 
Gross
amount
   
Expected
loss
   
Gross
amount
   
Expected
loss
   
Gross
amount
   
Expected
loss
   
Gross
amount
   
Expected
loss
   
Gross
amount
   
Expected
loss
   
Gross
amount
   
Expected
loss
 
   
S/(000)
   
S/(000)
   
S/(000)
   
S/(000)
   
S/(000)
   
S/(000)
   
S/(000)
   
S/(000)
   
S/(000)
   
S/(000)
   
S/(000)
   
S/(000)
 
Maturity shorter than:
                       
30 days
 
 
463,168
 
 
 
20,311
 
 
 
— 
 
 
 
— 
 
 
 
463,168
 
 
 
20,311
 
 
 
271,622
 
 
 
9,266
 
 
 
— 
 
 
 
— 
 
 
 
271,622
 
 
 
9,266
 
90 days
 
 
— 
 
 
 
— 
 
 
 
546
 
 
 
109
 
 
 
546
 
 
 
109
 
 
 
— 
 
 
 
— 
 
 
 
— 
 
 
 
— 
 
 
 
— 
 
 
 
— 
 
Maturity longer than:
                       
30 days
 
 
116,386
 
 
 
5,442
 
 
 
— 
 
 
 
— 
 
 
 
116,386
 
 
 
5,442
 
 
 
78,006
 
 
 
3,019
 
 
 
— 
 
 
 
— 
 
 
 
78,006
 
 
 
3,019
 
90 days
 
 
— 
 
 
 
— 
 
 
 
272,859
 
 
 
54,542
 
 
 
272,859
 
 
 
54,542
 
 
 
— 
 
 
 
— 
 
 
 
238,527
 
 
 
45,101
 
 
 
238,527
 
 
 
45,101
 
 
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
Total
 
 
579,554
 
 
 
25,753
 
 
 
273,405
 
 
 
54,651
 
 
 
852,959
 
 
 
80,404
 
 
 
349,628
 
 
 
12,285
 
 
 
238,527
 
 
 
45,101
 
 
 
588,155
 
 
 
57,386
 
 
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
 
               
               
               
               
               
               
               
               
               
               
               
               
   
2023
   
2022
 
 
Stage 2
   
Stage 3
   
Total
   
Stage 2
   
Stage 3
   
Total
 
Small and micro-business loans
 
Gross
amount
   
Expected
loss
   
Gross
amount
   
Expected
loss
   
Gross
amount
   
Expected
loss
   
Gross
amount
   
Expected
loss
   
Gross
amount
   
Expected
loss
   
Gross
amount
   
Expected
loss
 
   
S/(000)
   
S/(000)
   
S/(000)
   
S/(000)
   
S/(000)
   
S/(000)
   
S/(000)
   
S/(000)
   
S/(000)
   
S/(000)
   
S/(000)
   
S/(000)
 
Maturity shorter than:
                       
30 days
 
 
81,094
 
 
 
20,173
 
 
 
— 
 
 
 
— 
 
 
 
81,094
 
 
 
20,173
 
 
 
73,322
 
 
 
14,598
 
 
 
— 
 
 
 
— 
 
 
 
73,322
 
 
 
14,598
 
90 days
 
 
— 
 
 
 
— 
 
 
 
2,692
 
 
 
2,637
 
 
 
2,692
 
 
 
2,637
 
 
 
— 
 
 
 
— 
 
 
 
210
 
 
 
175
 
 
 
210
 
 
 
175
 
Maturity longer than:
                       
30 days
 
 
44,901
 
 
 
10,155
 
 
 
— 
 
 
 
— 
 
 
 
44,901
 
 
 
10,155
 
 
 
70,151
 
 
 
5,618
 
 
 
— 
 
 
 
— 
 
 
 
70,151
 
 
 
5,618
 
90 days
 
 
— 
 
 
 
— 
 
 
 
103,336
 
 
 
68,181
 
 
 
103,336
 
 
 
68,181
 
 
 
— 
 
 
 
— 
 
 
 
90,985
 
 
 
51,534
 
 
 
90,985
 
 
 
51,534
 
 
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
Total
 
 
125,995
 
 
 
30,328
 
 
 
106,028
 
 
 
70,818
 
 
 
232,023
 
 
 
101,146
 
 
 
143,473
 
 
 
20,216
 
 
 
91,195
 
 
 
51,709
 
 
 
234,668
 
 
 
71,925
 
 
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
Summary of expected credit losses by economic sector for direct loans
  (l)
The following tables present the exposure and the expected credit losses by the economic sector for direct loans as of December 31, 2023 and 2022:
 
2023
 
   
Carrying amount
   
Expected credit loss
   
Percentage expected credit loss
 
   
Stage 1
   
Stage 2
   
Stage 3
   
Total
   
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)                          
Direct loans
                       
Consumer loans
    13,355,812       2,236,552       733,096       16,325,460       466,606       713,361       682,417       1,862,384       3.5     31.9     93.1     11.4
Mortgage loans
    8,981,439       579,554       273,405       9,834,398       6,794       25,753       54,651       87,198       0.1     4.4     20.0     0.9
Commerce
    3,220,741       390,704       176,989       3,788,434       24,033       38,186       87,557       149,776       0.7     9.8     49.5     4.0
Manufacturing
    4,357,971       427,950       58,967       4,844,888       11,196       14,568       24,366       50,130       0.3     3.4     41.3     1.0
Professional, scientific and technical activities
    3,727,813       555,988       75,172       4,358,973       15,792       18,725       36,580       71,097       0.4     3.4     48.7     1.6
Communications, storage and transportation
    998,739       167,002       75,474       1,241,215       6,843       7,976       25,450       40,269       0.7     4.8     33.7     3.2
Agriculture
    1,708,377       173,386       12,667       1,894,430       3,209       1,854       1,632       6,695       0.2     1.1     12.9     0.4
Electricity, gas, water and oil
    746,792       188,577       1,466       936,835       784       1,767       346       2,897       0.1     0.9     23.6     0.3
Leaseholds and real estate activities
    457,473       86,954       46,074       590,501       2,628       2,216       20,693       25,537       0.6     2.5     44.9     4.3
Construction and infrastructure
    404,840       113,431       40,799       559,070       1,499       1,163       27,405       30,067       0.4     1.0     67.2     5.4
Others
    3,288,013       570,362       16,579       3,874,954       5,858       8,343       9,174       23,375       0.2     1.5     55.3     0.6
 
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
Total direct loans
    41,248,010       5,490,460       1,510,688       48,249,158       545,242       833,912       970,271       2,349,425       1.3     15.2     64.2     4.9
 
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
 
2022
 
   
Carrying amount
   
Expected credit loss
   
Percentage expected credit loss
 
   
Stage 1
   
Stage 2
   
Stage 3
   
Total
   
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)                          
Direct loans
                       
Consumer loans
    12,685,924       1,829,574       452,301       14,967,799       534,005       657,474       430,902       1,622,381       4.2     35.9     95.3     10.8
Mortgage loans
    8,698,789       349,628       238,527       9,286,944       4,236       12,285       45,101       61,622       0.0     3.5     18.9     0.7
Commerce
    3,837,304       402,454       173,236       4,412,994       31,844       29,009       78,028       138,881       0.8     7.2     45.0     3.1
Manufacturing
    4,346,251       451,393       63,397       4,861,041       8,403       12,389       21,611       42,403       0.2     2.7     34.1     0.9
Professional, scientific and technical activities
    3,529,961       298,534       64,078       3,892,573       12,056       10,186       26,497       48,739       0.3     3.4     41.4     1.3
Communications, storage and transportation
    1,102,988       194,840       75,427       1,373,255       7,047       7,035       23,645       37,727       0.6     3.6     31.3     2.7
Agriculture
    1,747,159       134,545       10,863       1,892,567       1,391       967       1,381       3,739       0.1     0.7     12.7     0.2
Electricity, gas, water and oil
    867,431       55,187       1,652       924,270       886       462       220       1,568       0.1     0.8     13.3     0.2
Leaseholds and real estate activities
    499,385       84,056       23,441       606,882       1,595       1,825       14,518       17,938       0.3     2.2     61.9     3.0
Construction and infrastructure
    415,827       91,910       49,736       557,473       1,667       1,654       32,569       35,890       0.4     1.8     65.5     6.4
Others
    4,067,036       145,047       37,469       4,249,552       5,428       4,000       7,539       16,967       0.1     2.8     20.1     0.4
 
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
Total direct loans
    41,798,055       4,037,168       1,190,127       47,025,350       608,558       737,286       682,011       2,027,855       1.5     18.3     57.3     4.3
 
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
Summary of expected credit losses by economic sector for Indirect loans
  (m)
The following tables present the exposure and the expected credit losses by the economic sector for indirect loans as of December 31, 2023 and 2022:
 
2023
 
   
Carrying amount
   
Expected credit loss
   
Percentage expected credit loss
 
   
Stage 1
   
Stage 2
   
Stage 3
   
Total
   
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)                          
Indirect loans
                       
Commerce
    297,127       40,894       2,230       340,251       512       340       279       1,131       0.2     0.8     12.5     0.3
Manufacturing
    505,674       148,827       —        654,501       548       291       —        839       0.1     0.2     0.0     0.1
Professional, scientific and technical activities
    1,145,646       110,916       982       1,257,544       1,994       788       105       2,887       0.2     0.7     10.7     0.2
Communications, storage and transportation
    541,561       25,927       —        567,488       697       349       —        1,046       0.1     1.3     0.0     0.2
Agriculture
    9,031       37       —        9,068       21       —        —        21       0.2     0.0     0.0     0.2
Electricity, gas, water and oil
    308,428       938       —        309,366       311       6       —        317       0.1     0.6     0.0     0.1
Leaseholds and real estate activities
    41,097       16,276       259       57,632       298       119       48       465       0.7     0.7     18.5     0.8
Construction and infrastructure
    306,042       212,589       12,288       530,919       1,021       1,797       6,932       9,750       0.3     0.8     56.4     1.8
Others
    869,649       147,021       41       1,016,711       1,222       249       5       1,476       0.1     0.2     12.2     0.1
 
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
Total indirect loans
    4,024,255       703,425       15,800       4,743,480       6,624       3,939       7,369       17,932       0.2     0.6     46.6     0.4
 
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
 
2022
 
   
Carrying amount
   
Expected credit loss
   
Percentage expected credit loss
 
   
Stage 1
   
Stage 2
   
Stage 3
   
Total
   
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)                          
Indirect loans
                       
Commerce
    264,926       40,527       76       305,529       309       424       49       782       0.1     1.0     64.5     0.3
Manufacturing
    518,115       134,469       —        652,584       487       153       —        640       0.1     0.1     0.0     0.1
Professional, scientific and technical activities
    1,183,657       75,946       485       1,260,088       1,486       700       52       2,238       0.1     0.9     10.7     0.2
Communications, storage and transportation
    467,018       19,117       —        486,135       489       91       —        580       0.1     0.5     0.0     0.1
Agriculture
    4,487       —        —        4,487       7       —        —        7       0.2     0.0     0.0     0.2
Electricity, gas, water and oil
    155,621       —        —        155,621       135       —        —        135       0.1     0.0     0.0     0.1
Leaseholds and real estate activities
    45,037       19,150       —        64,187       193       97       —        290       0.4     0.5     0.0     0.5
Construction and infrastructure
    412,388       130,886       24,956       568,230       4,470       4,463       8,775       17,708       1.1     3.4     35.2     3.1
Others
    908,192       81,735       559       990,486       778       12,277       60       13,115       0.1     15.0     10.7     1.3
 
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
Total indirect loans
    3,959,441       501,830       26,076       4,487,347       8,354       18,205       8,936       35,495       0.2     3.6     34.3     0.8