Loan, net

12 Months Ended

Dec. 31, 2025

Disclosure of financial assets [abstract]

(a)

This caption is made up as follows:


	2025			2024
	S/(000)			S/(000)
Direct loans
Loans (*)		39,573,400			38,456,682
Credit cards and other loans (**)		5,564,477			5,386,427
Discounted notes		1,704,520			1,706,886
Leasing		1,983,607			1,584,357
Factoring		1,273,562			1,410,968
Advances and overdrafts		32,078			101,848
Refinanced loans		467,669			449,438
Past due and under legal collection loans		1,230,619			1,318,758
		51,829,932			50,415,364
Plus (minus)
Accrued interest from performing loans (f)		544,571			569,384
Unearned interest and interest collected in advance		(13,311	)		(25,133	)
Impairment allowance for loans (d)		(1,591,042	)		(1,730,167	)
Total direct loans, net		50,770,150			49,229,448
Indirect loans, Note 18(a)		5,567,722			5,068,694

(*) As of December 31, 2024, Interbank maintained repo operations of loans represented in securities according to the BCRP’s definition. In consequence, loans provided as guarantee amounted to S/123,772,000, and is presented in the caption “Loan, net”, and the related liability is presented in the caption “Due to banks and correspondents” of the consolidated statement of financial position; see Note 12(b).

(**) As of December 31, 2025 and 2024, it includes non-revolving consumer loans for approximately S/2,648,176,000 and S/2,666,284,000, respectively.

(b)

The classification of the direct loan portfolio is as follows:


	2025		2024
	S/(000)		S/(000)
Commercial loans (c.1)		22,897,732		22,770,495
Consumer loans (c.1)		15,248,665		15,036,411
Mortgage loans (c.1)		11,400,784		10,571,300
Small and micro-business loans (c.1)		2,282,751		2,037,158
Total		51,829,932		50,415,364

As explained in further detail in Note 29.1, for purposes of estimating the impairment loss in accordance with IFRS 9, the Group's loans are segmented into homogeneous groups that share similar risk characteristic. In this sense, the Group has determined three types of loan portfolios: Retail Banking (consumer and mortgage loans), Commercial Banking (commercial loans) and Business Banking (loans to small and micro-business).

(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, 2025 and 2024. The amounts presented do not consider impairment.


	2025								2024
Direct loans, (c.1) and Note 29(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)
Not impaired
High grade		34,551,825		165,769		—		34,717,594		32,184,807		340,472		—		32,525,279
Standard grade		7,309,766		1,331,109		—		8,640,875		8,332,692		1,513,955		—		9,846,647
Sub-standard grade		3,499,980		1,677,609		—		5,177,589		2,705,012		1,582,401		—		4,287,413
Past due but not impaired		1,234,628		903,889		—		2,138,517		1,335,553		1,172,779		—		2,508,332
Impaired
Individually		—		—		22,928		22,928		—		—		23,214		23,214
Collectively		—		—		1,132,429		1,132,429		—		—		1,224,479		1,224,479
Total direct loans		46,596,199		4,078,376		1,155,357		51,829,932		44,558,064		4,609,607		1,247,693		50,415,364


	2025								2024
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		3,488,080		126,184		—		3,614,264		3,434,095		31,240		—		3,465,335
Standard grade		841,497		243,410		—		1,084,907		1,055,740		118,821		—		1,174,561
Sub-standard grade		683,009		168,619		—		851,628		272,352		132,498		—		404,850
Past due but not impaired		—		—		—		—		—		—		—		—
Impaired
Individually		—		—		6,182		6,182		—		—		6,181		6,181
Collectively		—		—		10,741		10,741		—		—		17,767		17,767
Total indirect loans		5,012,586		538,213		16,923		5,567,722		4,762,187		282,559		23,948		5,068,694

(c.1) The following tables show the credit quality and maximum exposure to credit risk for each classification of the direct loans:


	2025								2024
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		12,679,767		124,088		—		12,803,855		11,636,968		290,927		—		11,927,895
Standard grade		4,979,506		1,005,364		—		5,984,870		6,274,653		1,024,426		—		7,299,079
Sub-standard grade		2,544,331		479,201		—		3,023,532		1,749,950		356,019		—		2,105,969
Past due but not impaired		582,186		222,031		—		804,217		770,026		345,062		—		1,115,088
Impaired
Individually		—		—		22,928		22,928		—		—		23,214		23,214
Collectively		—		—		258,330		258,330		—		—		299,250		299,250
Total direct loans		20,785,790		1,830,684		281,258		22,897,732		20,431,597		2,016,434		322,464		22,770,495


	2025								2024
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		11,610,675		16,887		—		11,627,562		10,914,268		28,813		—		10,943,081
Standard grade		963,916		183,453		—		1,147,369		1,210,504		320,220		—		1,530,724
Sub-standard grade		676,148		798,920		—		1,475,068		593,507		765,324		—		1,358,831
Past due but not impaired		140,200		386,405		—		526,605		180,748		508,336		—		689,084
Impaired
Individually		—		—		—		—		—		—		—		—
Collectively		—		—		472,061		472,061		—		—		514,691		514,691
Total direct loans		13,390,939		1,385,665		472,061		15,248,665		12,899,027		1,622,693		514,691		15,036,411


	2025								2024
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		9,092,721		24,178		—		9,116,899		8,407,045		20,165		—		8,427,210
Standard grade		611,790		7,361		—		619,151		528,923		3,714		—		532,637
Sub-standard grade		251,017		364,017		—		615,034		318,802		400,671		—		719,473
Past due but not impaired		455,704		246,961		—		702,665		322,348		244,537		—		566,885
Impaired
Individually		—		—		—		—		—		—		—		—
Collectively		—		—		347,035		347,035		—		—		325,095		325,095
Total direct loans		10,411,232		642,517		347,035		11,400,784		9,577,118		669,087		325,095		10,571,300


	2025								2024
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		1,168,662		616		—		1,169,278		1,226,526		567		—		1,227,093
Standard grade		754,554		134,931		—		889,485		318,612		165,595		—		484,207
Sub-standard grade		28,484		35,471		—		63,955		42,753		60,387		—		103,140
Past due but not impaired		56,538		48,492		—		105,030		62,431		74,844		—		137,275
Impaired
Individually		—		—		—		—		—		—		—		—
Collectively		—		—		55,003		55,003		—		—		85,443		85,443
Total direct loans		2,008,238		219,510		55,003		2,282,751		1,650,322		301,393		85,443		2,037,158


	2025												2024
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		44,558,064			4,609,607			1,247,693			50,415,364			41,248,010			5,490,460			1,510,688			48,249,158
New originated or purchased assets		26,171,677			—			—			26,171,677			24,385,615			—			—			24,385,615
Assets matured or derecognized (excluding write-offs)		(17,288,146	)		(1,691,470	)		(105,892	)		(19,085,508	)		(14,540,979	)		(1,529,947	)		(74,309	)		(16,145,235	)
Transfers to Stage 1		942,375			(941,739	)		(636	)		—			1,191,935			(1,190,305	)		(1,630	)		—
Transfers to Stage 2		(3,121,023	)		3,157,251			(36,228	)		—			(3,580,445	)		3,607,482			(27,037	)		—
Transfers to Stage 3		(510,401	)		(574,385	)		1,084,786			—			(1,051,604	)		(1,294,253	)		2,345,857			—
Write-offs		—			—			(1,355,464	)		(1,355,464	)		—			—			(2,405,564	)		(2,405,564	)
Others (*)		(3,876,089	)		(467,120	)		327,031			(4,016,178	)		(3,181,151	)		(481,308	)		(103,405	)		(3,765,864	)
Foreign exchange effect		(280,258	)		(13,768	)		(5,933	)		(299,959	)		86,683			7,478			3,093			97,254
End of year balances		46,596,199			4,078,376			1,155,357			51,829,932			44,558,064			4,609,607			1,247,693			50,415,364


	2025												2024
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		439,324			566,636			724,207			1,730,167			545,242			833,912			970,271			2,349,425
Impact of the expected credit loss in the consolidated statement of income -
New originated or purchased assets		310,309			—			—			310,309			345,800			—			—			345,800
Assets matured or derecognized (excluding write-offs)		(116,779	)		(99,816	)		(34,928	)		(251,523	)		(117,510	)		(63,854	)		(24,285	)		(205,649	)
Transfers to Stage 1		97,781			(97,304	)		(477	)		—			115,241			(114,022	)		(1,219	)		—
Transfers to Stage 2		(129,357	)		136,890			(7,533	)		—			(142,315	)		149,763			(7,448	)		—
Transfers to Stage 3		(43,195	)		(133,413	)		176,608			—			(88,212	)		(380,565	)		468,777			—
Impact on the expected credit loss for credits that change stage in the year (***)		(84,502	)		114,762			776,733			806,993			(98,820	)		193,935			1,476,103			1,571,218
Others (**)		(28,053	)		(18,045	)		318,899			272,801			(120,334	)		(52,823	)		185,680			12,523
Total		6,204			(96,926	)		1,229,302			1,138,580			(106,150	)		(267,566	)		2,097,608			1,723,892
Write-offs		—			—			(1,424,484	)		(1,424,484	)		—			—			(2,524,919	)		(2,524,919	)
Recovery of written–off loans		—			—			158,309			158,309			—			—			179,683			179,683
Foreign exchange effect		(594	)		(1,042	)		(9,894	)		(11,530	)		232			290			1,564			2,086
Expected credit loss at the end of year balances		444,934			468,668			677,440			1,591,042			439,324			566,636			724,207			1,730,167

(*) 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 to the expected credit losses for the period that mainly arise 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 potential impairment that could be caused by the withdrawals of Indemnity Severance Deposits (CTS) and funds managed by the Administrators of Private Pension Funds (AFP), which generate an “artificial” improvement of the credit score during 2025 and 2024, that were not considered in the forward-looking model and led to incur in a higher provision for expected loss, see Note 29.1(d.6).

d.1.1) The following tables show the movement of the allowance for expected credit losses for each classification of the direct loan portfolio:


	2025												2024
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		16,640			36,158			123,013			175,811			51,611			64,470			162,385			278,466
Impact of the expected credit loss in the consolidated statement of income -
New originated or purchased assets		15,998			—			—			15,998			35,739			—			—			35,739
Assets derecognized or matured (excluding write-offs)		(12,436	)		(15,076	)		(5,456	)		(32,968	)		(27,765	)		(18,765	)		(4,083	)		(50,613	)
Transfers to Stage 1		3,401			(3,401	)		—			—			5,405			(5,405	)		—			—
Transfers to Stage 2		(9,071	)		9,235			(164	)		—			(20,669	)		21,431			(762	)		—
Transfers to Stage 3		(668	)		(1,585	)		2,253			—			(2,208	)		(14,571	)		16,779			—
Impact on the expected credit loss for credits that change stage in the year (**)		(3,310	)		(970	)		(20,104	)		(24,384	)		(4,722	)		(1,638	)		12,108			5,748
Others (*)		(4,151	)		(4,805	)		88,724			79,768			(20,973	)		(9,539	)		9,402			(21,110	)
Total		(10,237	)		(16,602	)		65,253			38,414			(35,193	)		(28,487	)		33,444			(30,236	)
Write-offs		—			—			(48,668	)		(48,668	)		—			—			(78,217	)		(78,217	)
Recovery of written–off loans		—			—			5,970			5,970			—			—			4,254			4,254
Foreign exchange effect		(537	)		(508	)		(7,693	)		(8,738	)		222			175			1,147			1,544
Expected credit loss at end of year		5,866			19,048			137,875			162,789			16,640			36,158			123,013			175,811

(*) 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 potential impairment that could be caused by the withdrawals of Indemnity Severance Deposits (CTS) and funds managed by the Administrators of Private Pension Funds (AFP), which generate an “artificial” improvement of the credit score during 2025 and 2024, that were not considered in the forward-looking model and led to incur in a higher provision for expected loss, see Note 29.1(d.6).


	2025												2024
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		403,740			474,416			494,700			1,372,856			466,606			713,361			682,417			1,862,384
Impact of the expected credit loss in the consolidated statement of income -
New originated or purchased assets		259,855			—			—			259,855			219,439			—			—			219,439
Assets derecognized or matured (excluding write-offs)		(86,482	)		(68,352	)		(11,918	)		(166,752	)		(75,335	)		(38,022	)		(8,120	)		(121,477	)
Transfers to Stage 1		76,844			(76,388	)		(456	)		—			96,900			(95,895	)		(1,005	)		—
Transfers to Stage 2		(111,242	)		113,341			(2,099	)		—			(101,634	)		104,024			(2,390	)		—
Transfers to Stage 3		(39,809	)		(121,804	)		161,613			—			(73,066	)		(338,289	)		411,355			—
Impact on the expected credit loss for credits that change stage in the year (**)		(64,694	)		104,535			756,567			796,408			(81,900	)		174,052			1,369,154			1,461,306
Others (*)		(36,907	)		(10,020	)		208,300			161,373			(47,271	)		(44,916	)		188,121			95,934
Total		(2,435	)		(58,688	)		1,112,007			1,050,884			(62,867	)		(239,046	)		1,957,115			1,655,202
Write-offs		—			—			(1,293,275	)		(1,293,275	)		—			—			(2,310,032	)		(2,310,032	)
Recovery of written–off loans		—			—			140,034			140,034			—			—			165,081			165,081
Foreign exchange effect		(3	)		(378	)		(534	)		(915	)		1			101			119			221
Expected credit loss at end of year		401,302			415,350			452,932			1,269,584			403,740			474,416			494,700			1,372,856


	2025												2024
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		5,523			43,956			44,321			93,800			6,794			25,753			54,651			87,198
Impact of the expected credit loss in the consolidated statement of income -
New originated or purchased assets		3,971			—			—			3,971			4,114			—			—			4,114
Assets derecognized or matured (excluding write-offs)		(392	)		(2,683	)		(9,517	)		(12,592	)		(429	)		(1,689	)		(9,267	)		(11,385	)
Transfers to Stage 1		14,968			(14,968	)		—			—			9,983			(9,983	)		—			—
Transfers to Stage 2		(1,733	)		6,976			(5,243	)		—			(2,348	)		6,551			(4,203	)		—
Transfers to Stage 3		(1,638	)		(2,492	)		4,130			—			(2,025	)		(3,142	)		5,167			—
Impact on the expected credit loss for credits that change stage in the year (**)		(14,506	)		4,126			9,761			(619	)		(9,606	)		16,451			15,411			22,256
Others (*)		1,299			(12,441	)		7,807			(3,335	)		(969	)		10,001			(15,977	)		(6,945	)
Total		1,969			(21,482	)		6,938			(12,575	)		(1,280	)		18,189			(8,869	)		8,040
Write-offs		—			—			(3,696	)		(3,696	)		—			—			(1,755	)		(1,755	)
Recovery of written–off loans		—			—			—			—			—			—			—			—
Foreign exchange effect		(45	)		(91	)		(1,557	)		(1,693	)		9			14			294			317
Expected credit loss at end of year		7,447			22,383			46,006			75,836			5,523			43,956			44,321			93,800


	2025												2024
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		13,421			12,106			62,173			87,700			20,231			30,328			70,818			121,377
Impact of the expected credit loss in the consolidated statement of income -
New originated or purchased assets		30,485			—			—			30,485			86,508			—			—			86,508
Assets derecognized or matured (excluding write-offs)		(17,469	)		(13,705	)		(8,037	)		(39,211	)		(13,981	)		(5,378	)		(2,815	)		(22,174	)
Transfers to Stage 1		2,568			(2,547	)		(21	)		—			2,953			(2,739	)		(214	)		—
Transfers to Stage 2		(7,311	)		7,338			(27	)		—			(17,664	)		17,757			(93	)		—
Transfers to Stage 3		(1,080	)		(7,532	)		8,612			—			(10,913	)		(24,563	)		35,476			—
Impact on the expected credit loss for credits that change stage in the year (**)		(1,992	)		7,071			30,509			35,588			(2,592	)		5,070			79,430			81,908
Others (*)		11,706			9,221			14,068			34,995			(51,121	)		(8,369	)		4,134			(55,356	)
Total		16,907			(154	)		45,104			61,857			(6,810	)		(18,222	)		115,918			90,886
Write-offs		—			—			(78,845	)		(78,845	)		—			—			(134,915	)		(134,915	)
Recovery of written–off loans		—			—			12,305			12,305			—			—			10,348			10,348
Foreign exchange effect		(9	)		(65	)		(110	)		(184	)		—			—			4			4
Expected credit loss at end of year		30,319			11,887			40,627			82,833			13,421			12,106			62,173			87,700

(d.2) Indirect loans (substantially, all indirect loans correspond to commercial loans)


	2025												2024
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		4,762,187			282,559			23,948			5,068,694			4,024,255			703,425			15,800			4,743,480
New originated or purchased assets		2,508,979			—			—			2,508,979			2,669,212			—			—			2,669,212
Assets derecognized or matured		(1,751,701	)		(82,291	)		(11,347	)		(1,845,339	)		(2,044,010	)		(332,730	)		(882	)		(2,377,622	)
Transfers to Stage 1		22,223			(22,223	)		—			—			172,930			(172,930	)		—			—
Transfers to Stage 2		(405,008	)		405,391			(383	)		—			(100,437	)		102,899			(2,462	)		—
Transfers to Stage 3		(4,050	)		(1,000	)		5,050			—			(277	)		(10,778	)		11,055			—
Others (*)		(76,293	)		(42,381	)		(342	)		(119,016	)		23,959			(8,766	)		436			15,629
Foreign exchange effect		(43,751	)		(1,842	)		(3	)		(45,596	)		16,555			1,439			1			17,995
End of year balances		5,012,586			538,213			16,923			5,567,722			4,762,187			282,559			23,948			5,068,694


	2025												2024
Changes in the allowance for expected credit losses for 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)
Expected credit loss at beginning of year balances		2,663			2,250			9,335			14,248			6,624			3,939			7,369			17,932
Impact of the expected credit loss in the consolidated statement of income -
New originated or purchased assets		1,663			—			—			1,663			2,110			—			—			2,110
Assets derecognized or matured		(1,218	)		(760	)		(1,262	)		(3,240	)		(3,275	)		(1,484	)		(330	)		(5,089	)
Transfers to Stage 1		144			(144	)		—			—			1,265			(1,265	)		—			—
Transfers to Stage 2		(626	)		668			(42	)		—			(697	)		961			(264	)		—
Transfers to Stage 3		(154	)		(7	)		161			—			(229	)		(91	)		320			—
Impact on the expected credit loss for credits that change stage in the year		(84	)		355			369			640			(1,001	)		(109	)		1,202			92
Others (**)		(376	)		(90	)		(470	)		(936	)		(2,155	)		294			1,035			(826	)
Total		(651	)		22			(1,244	)		(1,873	)		(3,982	)		(1,694	)		1,963			(3,713	)
Foreign exchange effect		(14	)		(4	)		(2	)		(20	)		21			5			3			29
Expected credit loss at the end of year balances, Note 10(a)		1,998			2,268			8,089			12,355			2,663			2,250			9,335			14,248

(**) 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).

(e)

In Group Management’s opinion, the allowance for loan losses recorded as of December 31, 2025 and 2024, has been established in accordance with IFRS 9; and represents the best estimate of expected credit losses on the loan portfolio.

(f)

During 2025 and 2024, the interest that the loan portfolio generates is freely agreed considering the interest rates prevailing on the market. Notwithstanding the above, Act No. 31143, “Act Protecting Consumers of Financial Services from Usury” established that the BCRP is the entity that determined maximum and minimum interest rates for consumer, small and micro-business loans in financial institutions. As of December 31, 2025, the maximum interest rate for the period between November 2025 and April 2026 is 113.16 percent in national currency and 95.40 percent in foreign currency (the maximum interest rate for the period between November 2024 and April 2025 was 112.98 percent in national currency and 93.86 percent in foreign currency, as of December 31, 2024).

(g)

Interest income from loans classified in Stage 3 is calculated through the effective interest rate adjusted for credit quality at amortized cost.

(h)

The refinanced loans during the 2025 period amounted to approximately S/80,944,000 (S/104,173,000, during the year 2024) which had no significant impact on the consolidated statement of income.

(i)

The table below presents the maturity of the direct loan portfolio without including accrued interest, interest to be accrued, interest collected in advance and impairment allowance for loans as of December 31, 2025 and 2024:


	2025		2024
	S/(000)		S/(000)
Outstanding
Within 1 month		5,661,943		4,693,941
Between 1 and 3 months		5,698,338		5,315,685
Between 3 months and 1 year		11,814,257		12,967,405
Between 1 and 5 years		20,476,099		20,000,898
More than 5 years		6,948,676		6,118,677
		50,599,313		49,096,606

Past due and under legal collection loans, see (i.1) -
Up to 4 months		265,127		177,367
Over 4 months		476,146		640,853
Under legal collection		489,346		500,538
		51,829,932		50,415,364

(i.1) The tables below present past due and under legal collection loans for each classification of the direct loan portfolio:


	2025		2024
	S/(000)		S/(000)
Commercial loans
Up to 4 months		47,616		33,440
Over 4 months		91,351		84,331
Under legal collection		178,974		217,741
		317,941		335,512

Consumer loans
Up to 4 months		122,786		81,020
Over 4 months		271,162		371,731
Under legal collection		91,066		78,432
		485,014		531,183

Mortgage loans
Up to 4 months		54,040		52,779
Over 4 months		92,371		95,106
Under legal collection		198,527		174,179
		344,938		322,064

Small and micro-business loans
Up to 4 months		40,685		10,128
Over 4 months		21,262		89,685
Under legal collection		20,779		30,186
		82,726		129,999

See credit risk analysis in Note 29.1

(j)

Part of the loan portfolio is collateralized with guarantees received from clients, which mainly consist of mortgages, trust assignments, financial instruments as well as industrial commercial pledges.

(k)

The following tables present the maturities of direct and indirect loans of Stages 2 and 3 as of December 31, 2025 and 2024, according to the following definitions:

- 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.


	2025												2024
	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, see Note 29(d.4)		4,146,405		381,618		—		—		4,146,405		381,618		4,260,747		450,143		—		—		4,260,747		450,143
90 days		—		—		3,496		3,355		3,496		3,355		—		—		3,060		2,801		3,060		2,801
Maturity longer than:
30 days		470,184		89,318		—		—		470,184		89,318		631,419		118,743		—		—		631,419		118,743
90 days		—		—		1,168,784		682,174		1,168,784		682,174		—		—		1,268,581		730,741		1,268,581		730,741
Total		4,616,589		470,936		1,172,280		685,529		5,788,869		1,156,465		4,892,166		568,886		1,271,641		733,542		6,163,807		1,302,428

(k.1) The following tables present the maturities of direct and indirect loans of Stages 2 and 3 as of December 31, 2025 and 2024, for each classification:


	2025												2024
	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		2,322,142		20,831		—		—		2,322,142		20,831		2,169,530		36,418		—		—		2,169,530		36,418
90 days		—		—		—		—		—		—		—		—		6		5		6		5
Maturity longer than:
30 days		46,755		485		—		—		46,755		485		129,463		1,990		—		—		129,463		1,990
90 days		—		—		298,181		145,964		298,181		145,964		—		—		346,406		132,343		346,406		132,343
Total		2,368,897		21,316		298,181		145,964		2,667,078		167,280		2,298,993		38,408		346,412		132,348		2,645,405		170,756


	2025												2024
	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		1,123,709		334,616		—		—		1,123,709		334,616		1,299,718		369,516		—		—		1,299,718		369,516
90 days		—		—		1,529		1,394		1,529		1,394		—		—		2,581		2,373		2,581		2,373
Maturity longer than:
30 days		261,956		80,734		—		—		261,956		80,734		322,975		104,900		—		—		322,975		104,900
90 days		—		—		470,532		451,538		470,532		451,538		—		—		512,110		492,327		512,110		492,327
Total		1,385,665		415,350		472,061		452,932		1,857,726		868,282		1,622,693		474,416		514,691		494,700		2,137,384		969,116


	2025												2024
	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		511,549		17,480		—		—		511,549		17,480		539,780		35,542		—		—		539,780		35,542
90 days		—		—		—		—		—		—		—		—		—		—		—		—
Maturity longer than:
30 days		130,968		4,903		—		—		130,968		4,903		129,307		8,414		—		—		129,307		8,414
90 days		—		—		347,035		46,006		347,035		46,006		—		—		325,095		44,321		325,095		44,321
Total		642,517		22,383		347,035		46,006		989,552		68,389		669,087		43,956		325,095		44,321		994,182		88,277


	2025												2024
	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		189,005		8,691		—		—		189,005		8,691		251,719		8,667		—		—		251,719		8,667
90 days		—		—		1,967		1,961		1,967		1,961		—		—		473		423		473		423
Maturity longer than:
30 days		30,505		3,196		—		—		30,505		3,196		49,674		3,439		—		—		49,674		3,439
90 days		—		—		53,036		38,666		53,036		38,666		—		—		84,970		61,750		84,970		61,750
Total		219,510		11,887		55,003		40,627		274,513		52,514		301,393		12,106		85,443		62,173		386,836		74,279

(l)

The following tables present the exposure and the expected credit losses by the economic sector for direct loans as of December 31, 2025 and 2024:


	2025
	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		13,390,939		1,385,665		472,061		15,248,665		401,302		415,350		452,932		1,269,584		3.0	%		30.0	%		95.9	%		8.3	%
Mortgage loans		10,411,232		642,517		347,035		11,400,784		7,447		22,383		46,006		75,836		0.1	%		3.5	%		13.3	%		0.7	%
Commerce		388,192		13,889		3,524		405,605		299		209		1,718		2,226		0.1	%		1.5	%		48.8	%		0.5	%
Manufacturing		3,293,617		266,258		17,208		3,577,083		3,584		1,846		8,185		13,615		0.1	%		0.7	%		47.6	%		0.4	%
Professional, scientific and technical activities		817,365		113,332		7,868		938,565		1,139		500		3,470		5,109		0.1	%		0.4	%		44.1	%		0.5	%
Communications, storage and transportation		2,201,491		40,763		16,171		2,258,425		1,937		756		8,702		11,395		0.1	%		1.9	%		53.8	%		0.5	%
Agriculture		2,267,553		194,684		10,458		2,472,695		785		1,200		1,817		3,802		0.0	%		0.6	%		17.4	%		0.2	%
Electricity, gas, water and oil		139,275		24,452		32,565		196,292		315		193		29,715		30,223		0.2	%		0.8	%		91.2	%		15.4	%
Leaseholds and real estate activities		500,125		40,003		1,607		541,735		1,430		911		1,473		3,814		0.3	%		2.3	%		91.7	%		0.7	%
Construction and infrastructure		513,303		124,820		15,996		654,119		2,153		1,160		8,876		12,189		0.4	%		0.9	%		55.5	%		1.9	%
Others		12,673,107		1,231,993		230,864		14,135,964		24,543		24,160		114,546		163,249		0.2	%		2.0	%		49.6	%		1.2	%
Total direct loans		46,596,199		4,078,376		1,155,357		51,829,932		444,934		468,668		677,440		1,591,042		1.0	%		11.5	%		58.6	%		3.1	%


	2024
	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		12,899,027		1,622,693		514,691		15,036,411		403,740		474,416		494,700		1,372,856		3.1	%		29.2	%		96.1	%		9.1	%
Mortgage loans		9,577,118		669,087		325,095		10,571,300		5,523		43,956		44,321		93,800		0.1	%		6.6	%		13.6	%		0.9	%
Commerce		392,929		12,365		5,073		410,367		242		389		1,807		2,438		0.1	%		3.1	%		35.6	%		0.6	%
Manufacturing		3,888,532		228,696		21,788		4,139,016		3,383		2,963		8,490		14,836		0.1	%		1.3	%		39.0	%		0.4	%
Professional, scientific and technical activities		583,931		122,359		8,580		714,870		636		715		3,247		4,598		0.1	%		0.6	%		37.8	%		0.6	%
Communications, storage and transportation		1,819,460		105,875		20,939		1,946,274		1,253		2,278		6,328		9,859		0.1	%		2.2	%		30.2	%		0.5	%
Agriculture		2,239,264		141,792		12,255		2,393,311		1,260		2,480		2,524		6,264		0.1	%		1.7	%		20.6	%		0.3	%
Electricity, gas, water and oil		101,903		20,289		35,649		157,841		364		396		28,281		29,041		0.4	%		2.0	%		79.3	%		18.4	%
Leaseholds and real estate activities		398,882		46,199		3,758		448,839		1,137		1,523		2,957		5,617		0.3	%		3.3	%		78.7	%		1.3	%
Construction and infrastructure		632,424		118,719		21,022		772,165		1,763		1,675		10,446		13,884		0.3	%		1.4	%		49.7	%		1.8	%
Others		12,024,594		1,521,533		278,843		13,824,970		20,023		35,845		121,106		176,974		0.2	%		2.4	%		43.4	%		1.3	%
Total direct loans		44,558,064		4,609,607		1,247,693		50,415,364		439,324		566,636		724,207		1,730,167		1.0	%		12.3	%		58.0	%		3.4	%

(m)

The following tables present the exposure and the expected credit losses by the economic sector for indirect loans as of December 31, 2025 and 2024:


	2025
	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		558,588		22,631		—		581,219		557		117		—		674		0.1	%		0.5	%		0.0	%		0.1	%
Manufacturing		808,284		35,415		—		843,699		263		69		—		332		0.0	%		0.2	%		0.0	%		0.0	%
Professional, scientific and technical activities		25,746		3,889		—		29,635		12		32		—		44		0.0	%		0.8	%		0.0	%		0.1	%
Communications, storage and transportation		346,362		52,179		—		398,541		136		54		—		190		0.0	%		0.1	%		0.0	%		0.0	%
Agriculture		42,158		37		—		42,195		10		—		—		10		0.0	%		0.0	%		0.0	%		0.0	%
Electricity, gas, water and oil		118,498		47,678		8,603		174,779		44		259		6,184		6,487		0.0	%		0.5	%		71.9	%		3.7	%
Leaseholds and real estate activities		60,064		66,496		—		126,560		28		245		—		273		0.0	%		0.4	%		0.0	%		0.2	%
Construction and infrastructure		102,925		13,685		—		116,610		33		252		—		285		0.0	%		1.8	%		0.0	%		0.2	%
Others		2,949,961		296,203		8,320		3,254,484		915		1,240		1,905		4,060		0.0	%		0.4	%		22.9	%		0.1	%
Total indirect loans		5,012,586		538,213		16,923		5,567,722		1,998		2,268		8,089		12,355		0.0	%		0.4	%		47.8	%		0.2	%


	2024
	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		406,317		23,200		—		429,517		70		11		—		81		0.0	%		0.0	%		0.0	%		0.0	%
Manufacturing		825,853		6,734		—		832,587		185		61		—		246		0.0	%		0.9	%		0.0	%		0.0	%
Professional, scientific and technical activities		42,476		1,410		—		43,886		50		42		—		92		0.1	%		3.0	%		0.0	%		0.2	%
Communications, storage and transportation		547,328		2,209		54		549,591		323		15		45		383		0.1	%		0.7	%		83.3	%		0.1	%
Agriculture		13,890		37		—		13,927		16		1		—		17		0.1	%		2.7	%		0.0	%		0.1	%
Electricity, gas, water and oil		169,810		16,495		8,474		194,779		409		208		6,819		7,436		0.2	%		1.3	%		80.5	%		3.8	%
Leaseholds and real estate activities		90,609		45,051		—		135,660		88		118		—		206		0.1	%		0.3	%		0.0	%		0.2	%
Construction and infrastructure		114,457		10,194		—		124,651		45		100		—		145		0.0	%		1.0	%		0.0	%		0.1	%
Others		2,551,447		177,229		15,420		2,744,096		1,477		1,694		2,471		5,642		0.1	%		1.0	%		16.0	%		0.2	%
Total indirect loans		4,762,187		282,559		23,948		5,068,694		2,663		2,250		9,335		14,248		0.1	%		0.8	%		39.0	%		0.3	%

During the years 2025, 2024 and 2023, the Group applied its expert judgment, which led to incurring in a higher provision for expected losses, see Note 29.1(d.6).