v3.26.1
LOANS, NET
 12 Months Ended
Dec. 31, 2025
LOANS, NET [Abstract]  
LOANS, NET LOANS, NET
a)    This item consists of the following:
20252024
S/(000)S/(000)
Direct loans -
Loans122,308,754 118,396,820 
Credit cards6,716,700 6,223,711 
Leasing receivables5,019,366 5,260,182 
Discounted notes4,098,691 3,391,576 
Factoring receivables and confirming3,598,101 3,243,531 
Advances and overdrafts in current account56,637 132,231 
Refinanced loans2,009,723 2,241,062 
Total direct loans143,807,972 138,889,113 
Internal overdue loans and under legal collection loans4,821,126 5,430,132 
148,629,098 144,319,245 
Add (less) -
Accrued interest1,355,856 1,413,028 
Total direct loans149,984,954 145,732,273 
Allowance for direct loan losses, Note 30.1 (c)(7,669,950)(7,994,977)
Total direct loans, net142,315,004 137,737,296 
b)    As of December 31, 2025, and 2024, the composition of the gross credit balance is as follows:
20252024
S/(000)S/(000)
Direct loans, Note 7(a)148,629,098 144,319,245 
Indirect loans, Note 18(a)21,267,157 22,139,321 
Due from customers on banker’s acceptances345,906 528,184 
Total170,242,161 166,986,750 
The following table presents the movement of the gross balance of the credit portfolio by stage periods 2025 and 2024:
Stage 1
Loans by classBalance at
December 31,
2024		Transfer to
Stage 2		Transfer to
Stage 3		Transfer from
Stage 2		Transfer from
Stage 3		Transfers
between classes
of loans		New loans,
liquidation and
write-offs, net		Sale of loan
portfolio		Exchange
differences and
others		Balance at
December 31,
2025
S/(000)
S/(000)
S/(000)
S/(000)S/(000)
S/(000)
S/(000)S/(000)
S/(000)
S/(000)
Commercial loans89,105,601 (6,357,467)(469,266)3,576,054 309,924 1,023,019 5,587,697 – (5,550,866)87,224,696 
Residential mortgage loans18,956,529 (2,064,585)(57,011)3,393,702 32,643 7,760 2,635,093 – (764,478)22,139,653 
Small and Micro-business loans16,905,829 (9,011,684)(90,624)2,369,423 29,434 (1,023,019)9,778,401 – (351,549)18,606,211 
Consumer loans14,392,541 (5,532,737)(72,133)2,625,644 116,152 (7,760)6,288,017 – (360,304)17,449,420 
Total139,360,500 (22,966,473)(689,034)11,964,823 488,153 – 24,289,208 – (7,027,197)145,419,980 
Stage 2
Loans by classBalance at
December 31,
2024		Transfer to
Stage 1		Transfer to
Stage 3		Transfer from
Stage 1		Transfer from
Stage 3		Transfers
between classes
of loans		New loans,
liquidation and
write-offs, net		Sale of loan
portfolio		Exchange
differences and
others		Balance at
December 31,
2025
S/(000)
S/(000)
S/(000)
S/(000)S/(000)
S/(000)
S/(000)S/(000)
S/(000)
S/(000)
Commercial loans4,508,146 (3,576,054)(1,324,351)6,357,467 155,245 71,068 (893,639)– (173,438)5,124,444 
Residential mortgage loans4,492,325 (3,393,702)(385,204)2,064,585 72,531 462 (370,485)– (50,031)2,430,481 
Small and Micro-business loans4,243,585 (2,369,423)(1,414,877)9,011,684 92,463 (71,068)(5,386,341)– (11,365)4,094,658 
Consumer loans3,718,855 (2,625,644)(1,346,489)5,532,737 98,790 (462)(1,898,936)– (11,949)3,466,902 
Total16,962,911 (11,964,823)(4,470,921)22,966,473 419,029 – (8,549,401)– (246,783)15,116,485 
Stage 3
Loans by classBalance at
December 31,
2024		Transfer to
Stage 1		Transfer to
Stage 2		Transfer from
Stage 1		Transfer from
Stage 2		Transfers
between classes
of loans		New loans,
liquidation and
write-offs, net		Sale of loan
portfolio		Exchange
differences and
others		Balance at
December 31,
2025
S/(000)
S/(000)
S/(000)
S/(000)S/(000)
S/(000)
S/(000)S/(000)
S/(000)
S/(000)
Commercial loans5,873,420 (309,924)(155,245)469,266 1,324,351 307,257 (1,954,164)(8,698)(202,923)5,343,340 
Residential mortgage loans1,643,178 (32,643)(72,531)57,011 385,204 (96)(308,771)– (53,902)1,617,450 
Small and Micro-business loans1,687,703 (29,434)(92,463)90,624 1,414,877 (307,257)(1,375,550)– (30,759)1,357,741 
Consumer loans1,459,038 (116,152)(98,790)72,133 1,346,489 96 (1,263,868)– (11,781)1,387,165 
Total10,663,339 (488,153)(419,029)689,034 4,470,921 – (4,902,353)(8,698)(299,365)9,705,696 
Consolidated 3 Stages
Loans by classBalance at
December 31,
2024		Written off
and
forgivens		Transfers
between classes
of loans		New loans
and
liquidation,
net		Sale of loan
portfolio		Exchange
differences and
others		Balance at
December 31,
2025
S/(000)
S/(000)
S/(000)
S/(000)S/(000)
S/(000)
S/(000)
Commercial loans99,487,167 (438,066)1,401,344 3,177,960 (8,698)(5,927,227)97,692,480 
Residential mortgage loans25,092,032 (22,365)8,126 1,978,202 – (868,411)26,187,584 
Small and Micro-business loans22,837,117 (1,265,317)(1,401,344)4,281,827 – (393,673)24,058,610 
Consumer loans19,570,434 (1,061,440)(8,126)4,186,653 – (384,034)22,303,487 
Total166,986,750 (2,787,188)– 13,624,642 (8,698)(7,573,345)170,242,161 
Stage 1
Loans by classBalance at
December 31,
2023		Transfer to
Stage 2		Transfer to
Stage 3		Transfer from
Stage 2		Transfer from
Stage 3		Transfers
between classes
of loans		New loans,
liquidation and
write-offs, net		Sale of loan
portfolio		Exchange
differences and
others		Balance at
December 31,
2024
S/(000)
S/(000)
S/(000)
S/(000)S/(000)
S/(000)
S/(000)S/(000)
S/(000)
S/(000)
Commercial loans83,928,787 (6,375,422)(321,490)5,170,908 557,795 1,471,769 4,212,548 – 460,706 89,105,601 
Residential mortgage loans19,150,069 (4,867,259)(78,840)2,949,592 22,355 2,186 1,727,613 – 50,813 18,956,529 
Small and Micro-business loans16,065,846 (9,240,619)(115,321)3,329,738 44,315 (1,471,769)8,378,279 – (84,640)16,905,829 
Consumer loans15,234,060 (6,349,365)(130,291)2,545,058 85,014 (2,186)2,982,062 – 28,189 14,392,541 
Total134,378,762 (26,832,665)(645,942)13,995,296 709,479 – 17,300,502 – 455,068 139,360,500 
Stage 2
Loans by classBalance at
December 31,
2023		Transfer to
Stage 1		Transfer to
Stage 3		Transfer from
Stage 1		Transfer from
Stage 3		Transfers
between classes
of loans		New loans,
liquidation and
write-offs, net		Sale of loan
portfolio		Exchange
 differences and
others		Balance at
December 31,
2024
S/(000)
S/(000)
S/(000)
S/(000)S/(000)
S/(000)
S/(000)S/(000)
S/(000)
S/(000)
Commercial loans5,937,197 (5,170,908)(1,523,412)6,375,422 517,832 134,410 (1,763,989)– 1,594 4,508,146 
Residential mortgage loans3,558,102 (2,949,592)(493,788)4,867,259 52,741 – (548,555)– 6,158 4,492,325 
Small and Micro-business loans4,630,314 (3,329,738)(1,907,961)9,240,619 118,948 (134,410)(4,355,869)– (18,318)4,243,585 
Consumer loans3,317,454 (2,545,058)(1,777,749)6,349,365 105,041 – (1,731,395)– 1,197 3,718,855 
Total17,443,067 (13,995,296)(5,702,910)26,832,665 794,562 – (8,399,808)– (9,369)16,962,911 
Stage 3
Loans by classBalance at
December 31,
2023		Transfer to
Stage 1		Transfer to
Stage 2		Transfer from
Stage 1		Transfer from
Stage 2		Transfers
between classes
of loans		New loans,
liquidation and
write-offs, net		Sale of loan
 portfolio		Exchange
differences and
 others		Balance at
December 31,
2024
S/(000)
S/(000)
S/(000)
S/(000)S/(000)
S/(000)
S/(000)S/(000)
S/(000)
S/(000)
Commercial loans7,307,176 (557,795)(517,832)321,490 1,523,412 (265,854)(1,843,891)(110,550)17,264 5,873,420 
Residential mortgage loans1,468,748 (22,355)(52,741)78,840 493,788 871 (284,913)(44,749)5,689 1,643,178 
Small and Micro-business loans1,802,830 (44,315)(118,948)115,321 1,907,961 265,854 (2,237,017)(7,081)3,098 1,687,703 
Consumer loans1,546,687 (85,014)(105,041)130,291 1,777,749 (871)(1,799,077)(11,931)6,245 1,459,038 
Total12,125,441 (709,479)(794,562)645,942 5,702,910 – (6,164,898)(174,311)32,296 10,663,339 
Consolidated 3 Stages
Loans by classBalance at
December 31,
2023		Written off
and forgivens		Transfers
 between classes
of loans		New loans
and
liquidation,
net		Sale of loan
 portfolio		Exchange
differences and
others		Balance at
December 31,
2024
S/(000)
S/(000)
S/(000)
S/(000)S/(000)
S/(000)
S/(000)
Commercial loans97,173,160 (594,478)1,340,325 1,199,146 (110,550)479,564 99,487,167 
Residential mortgage loans24,176,919 (20,162)3,057 914,307 (44,749)62,660 25,092,032 
Small and Micro-business loans22,498,990 (1,746,105)(1,340,325)3,531,498 (7,081)(99,860)22,837,117 
Consumer loans20,098,201 (1,526,839)(3,057)978,429 (11,931)35,631 19,570,434 
Total163,947,270 (3,887,584)– 6,623,380 (174,311)477,995 166,986,750 
c)    As of December 31, 2025, and 2024, the allowance for loan losses for direct loans, indirect loans and due from customers on banker’s acceptances, was determined under the expected credit loss model as established in IFRS 9. The movement in the allowance for loan losses is shown below for direct loans, indirect loans and due from customers on banker’s acceptances:
Stage 1
Loans by classBalance at
December 31,
2024		Transfer to
Stage 2		Transfer to
Stage 3		Transfer
 from
Stage 2		Transfer
 from
Stage 3		New loans
liquidation, and
write-
offs, net		Changes in
PD,LGD,
EAD (*)		Transfers
between
classes of
loans		Sale of loan
 portfolio		Exchange
differences
and others		Balance at
December
31, 2025
S/(000)
S/(000)
S/(000)
S/(000)S/(000)
S/(000)
S/(000)S/(000)
S/(000)
S/(000)S/(000)
Commercial loans515,030 (132,277)(5,379)124,005 38,724 13,019 (109,674)90,811 – (75,250)459,009 
Residential mortgage loans66,258 (10,917)(452)57,272 15,798 7,398 (83,929)335 – (1,910)49,853 
Small and Micro-business loans384,283 (360,657)(4,223)113,044 18,386 522,212 (103,175)(90,811)– (6,379)472,680 
Consumer loans331,010 (265,816)(3,668)202,494 99,770 202,233 (91,743)(335)– (13,965)459,980 
Total1,296,581 (769,667)(13,722)496,815 172,678 744,862 (388,521)– – (97,504)1,441,522 
Stage 2
Loans by classBalance at
December 31,
2024		Transfer to
Stage 1		Transfer to
Stage 3		Transfer
from
Stage 1		Transfer
from
Stage 3		New loans
liquidation, and
write-
offs, net		Changes in
PD,LGD,
EAD (*)		Transfers
between
classes of
loans		Sale of loan
portfolio		Exchange
differences
and others		Balance at
December
31, 2025
S/(000)
S/(000)
S/(000)
S/(000)S/(000)
S/(000)
S/(000)S/(000)
S/(000)
S/(000)S/(000)
Commercial loans300,858 (124,005)(125,576)132,277 44,967 (64,594)130,491 1,874 – (9,913)286,379 
Residential mortgage loans168,222 (57,272)(30,834)10,917 36,974 (16,599)11,113 17 – (6,249)116,289 
Small and Micro-business loans396,679 (113,044)(207,616)360,657 46,832 (417,490)353,343 (1,874)– (5,294)412,193 
Consumer loans514,247 (202,494)(354,315)265,816 82,508 (149,272)352,354 (17)– (9,389)499,438 
Total1,380,006 (496,815)(718,341)769,667 211,281 (647,955)847,301 – – (30,845)1,314,299 
Stage 3
Loans by classBalance at
December 31,
2024		Transfer to
Stage 1		Transfer to
Stage 2		Transfer
 from
Stage 1		Transfer
from
Stage 2		New loans
liquidation, and
write-
offs, net		Changes in
PD,LGD,
EAD (*)		Transfers
between
classes of
loans		Sale of loan
 portfolio		Exchange
differences
and others		Balance at
December
31, 2025
S/(000)
S/(000)
S/(000)
S/(000)S/(000)
S/(000)
S/(000)S/(000)
S/(000)
S/(000)S/(000)
Commercial loans2,512,121 (38,724)(44,967)5,379 125,576 (793,976)644,487 60,624 (2,637)(82,650)2,385,233 
Residential mortgage loans819,647 (15,798)(36,974)452 30,834 (148,499)179,685 (55)— (28,851)800,441 
Small and Micro-business loans1,167,319 (18,386)(46,832)4,223 207,616 (1,377,039)1,099,546 (60,624)— (26,083)949,740 
Consumer loans1,203,221 (99,770)(82,508)3,668 354,315 (1,184,622)972,705 55 — (16,773)1,150,291 
Total5,702,308 (172,678)(211,281)13,722 718,341 (3,504,136)2,896,423 – (2,637)(154,357)5,285,705 
Consolidated 3 StagesCredit loss of the period
Loans by classBalance at
December
31, 2024		Loan
portafolio
written off
and
forgivens		New loans
and
liquidation,
net		Changes in
PD, LGD,
EAD (*)		Transfers
between
classes of
loans		Sale of loan
portfolio		Exchange
differences
and others		Balance at
December
31, 2025
S/(000)
S/(000)
S/(000)
S/(000)S/(000)
S/(000)
S/(000)S/(000)
Commercial loans3,328,009 (464,330)(381,221)665,304 153,309 (2,637)(167,813)3,130,621 
Residential mortgage loans1,054,127 (23,807)(133,893)106,869 297 – (37,010)966,583 
Small and Micro-business loans1,948,281 (1,306,436)34,119 1,349,714 (153,309)– (37,756)1,834,613 
Consumer loans2,048,478 (1,130,907)(754)1,233,316 (297)– (40,127)2,109,709 
Total8,378,895 (2,925,480)(481,749)3,355,203 – (2,637)(282,706)8,041,526 
Stage 1
Loans by classBalance at
December 31,
2023		Transfer to
Stage 2		Transfer to
Stage 3		Transfer
from
Stage 2		Transfer
from
Stage 3		New loans
liquidation, and
write-
offs, net		Changes
in PD,
LGD,
EAD (*)		Transfers
between
classes of
loans		Sale of loan
portfolio		Exchange
differences
and others		Balance at
December
31, 2024
S/(000)
S/(000)
S/(000)
S/(000)S/(000)
S/(000)
S/(000)S/(000)
S/(000)
S/(000)S/(000)
Commercial loans552,132 (151,847)(7,753)153,552 64,165 30,593 (147,692)34,272 – (12,392)515,030 
Residential mortgage loans54,102 (20,949)(430)34,474 12,065 9,428 (22,871)197 – 242 66,258 
Small and Micro-business loans348,124 (356,044)(6,772)107,403 28,034 464,092 (165,734)(34,272)– (548)384,283 
Consumer loans285,091 (245,783)(5,297)142,011 74,041 51,412 29,377 (197)– 355 331,010 
Total1,239,449 (774,623)(20,252)437,440 178,305 555,525 (306,920)– – (12,343)1,296,581 
Stage 2
Loans by classBalance at
December 31,
2023		Transfer to
Stage 1		Transfer to
Stage 3		Transfer
from
Stage 1		Transfer
from
Stage 3		New loans
liquidation, and
write-
offs, net		Changes
in PD,
LGD,
EAD (*)		Transfers
between
classes of
loans		Sale of loan
portfolio		Exchange
differences
and others		Balance at
December
31, 2024
S/(000)
S/(000)
S/(000)
S/(000)S/(000)
S/(000)
S/(000)S/(000)
S/(000)
S/(000)S/(000)
Commercial loans399,536 (153,552)(205,233)151,847 55,861 (114,850)143,678 24,408 – (837)300,858 
Residential mortgage loans121,258 (34,474)(41,104)20,949 29,958 (18,325)90,309 – – (349)168,222 
Small and Micro-business loans431,282 (107,403)(351,156)356,044 69,433 (292,119)318,559 (24,408)– (3,553)396,679 
Consumer loans435,150 (142,011)(434,526)245,783 85,974 (146,722)473,117 – – (2,518)514,247 
Total1,387,226 (437,440)(1,032,019)774,623 241,226 (572,016)1,025,663 – – (7,257)1,380,006 
Stage 3
Loans by classBalance at
December 31,
2023		Transfer to
Stage 1		Transfer to
Stage 2		Transfer
from
Stage 1		Transfer
from
Stage 2		New loans
liquidation, and
write-
offs, net		Changes
in PD,
LGD,
EAD (*)		Transfers
between
classes of
loans		Sale of loan
portfolio		Exchange
differences
and others		Balance at
December
31, 2024
S/(000)
S/(000)
S/(000)
S/(000)S/(000)
S/(000)
S/(000)S/(000)
S/(000)
S/(000)S/(000)
Commercial loans2,631,554 (64,165)(55,861)7,753 205,233 (881,988)837,925 (89,886)(83,143)4,699 2,512,121 
Residential mortgage loans785,261 (12,065)(29,958)430 41,104 (155,152)213,306 227 (25,181)1,675 819,647 
Small and Micro-business loans1,288,082 (28,034)(69,433)6,772 351,156 (1,898,683)1,435,145 89,886 (5,540)(2,032)1,167,319 
Consumer loans1,314,373 (74,041)(85,974)5,297 434,526 (1,656,047)1,275,984 (227)(8,554)(2,116)1,203,221 
Total6,019,270 (178,305)(241,226)20,252 1,032,019 (4,591,870)3,762,360 – (122,418)2,226 5,702,308 
Consolidated 3 StagesCredit loss of the period
Loans by classBalance at
December
31, 2023		Loan
 portafolio
written off
 and
 forgivens		New loans
and
liquidation,
net		Changes
in PD, LGD,
EAD (*)		Transfers
between
classes of
loans		Sale of loan
portfolio		Exchange
differences
and others		Balance at
December
31, 2024
S/(000)
S/(000)
S/(000)
S/(000)S/(000)
S/(000)
S/(000)S/(000)
Commercial loans3,583,222 (614,686)(351,559)833,911 (31,206)(83,143)(8,530)3,328,009 
Residential mortgage loans960,621 (23,023)(141,026)280,744 424 (25,181)1,568 1,054,127 
Small and Micro-business loans2,067,488 (1,813,283)86,573 1,587,970 31,206 (5,540)(6,133)1,948,281 
Consumer loans2,034,614 (1,619,567)(131,790)1,778,478 (424)(8,554)(4,279)2,048,478 
Total8,645,945 (4,070,559)(537,802)4,481,103 – (122,418)(17,374)8,378,895 
(*)    The movement includes the following effects:
(i)    Calibrations to the PD, LGD and EAD models;
(ii)    Updating of macroeconomic models and projections;
(iii)    Increase or decrease in credit risk due to phase changes;
(iv)    Increase or decrease in the risk inherent to credits that remain in the same phase.
(**)The movement in the expected credit loss allowance for the 2025 period includes provisions for direct loans of approximately S/ 7,670.0 million and provisions for indirect loans and due from customers on banker’s acceptances of S/ 371.6 million (S/ 7,994.9 million and S/ 383.9 million, respectively, as of December 31, 2024). The expected loss on indirect loans and due from customers on banker’s acceptances is included under “Other liabilities” in the consolidated statement of financial position (Note 12(a)). In management’s opinion, the expected credit loss allowance for loans recognized as of December 31, 2025 and 2024 has been determined in accordance with IFRS 9 and is sufficient to cover losses in the loan portfolio.

d)    Interest rates on loans are set based on the prevailing rates in the markets in which the Group’s subsidiaries operate..
e)    A portion of the loan portfolio is collateralized with guarantees received from customers, which mainly consist of mortgages, trust assignments, securities and industrial and mercantile pledges.
f)    The following table presents the gross direct loan portfolio as of December 31, 2025, and 2024 by maturity based on the remaining period to the payment due date:
20252024
S/(000)S/(000)
Outstanding loans -
From 1 to 3 months33,318,459 31,363,434 
From 3 months to 1 year39,713,962 37,349,571 
From 1 to 3 years30,472,885 29,185,013 
From 3 to 5 years14,738,099 13,319,494 
From 5 to 15 years24,092,636 25,578,139 
More than 15 years1,471,931 2,093,462 
143,807,972 138,889,113 
Internal overdue loans -
Overdue up to 90 days747,943 1,046,337 
Over 90 days4,073,183 4,383,795 
4,821,126 5,430,132 
Total148,629,098 144,319,245 
See credit risk analysis in Note 30.1 (c).
g)     As of December 31, 2025, the Group holds foreign currency forwards, which have been designated as fair value hedges of certain U.S.Dollar loans, for a notional amount of US$13.3 million equivalent to S/44.9 million (US$36.3 million equivalent to S/136.6 million as of December 31, 2024), through which the loans were economically converted into soles. See Note 12(c).