The following table presents an analysis of the financial instruments that are measured at their fair value, including the level of hierarchy of fair value. The amounts are based on the balances presented in the consolidated statement of financial position.


	As of December 31, 2025
	Quoted price in active markets		Significant observable inputs		Significant unobservable inputs
	Level 1		Level 2		Level 3		Total
	S/(000)		S/(000)		S/(000)		S/(000)
Financial assets
Financial investments
At fair value through profit or loss (*)		247,299		666,443		1,052,249		1,965,991
Debt instruments measured at fair value through other comprehensive income		13,732,571		7,566,826		—		21,299,397
Equity instruments measured at fair value through other comprehensive income		518,843		3,675		33,631		556,149
Derivatives receivable		—		120,878		—		120,878
		14,498,713		8,357,822		1,085,880		23,942,415
Accrued interest								363,254
Total financial assets								24,305,669
Financial liabilities
Derivatives payable		—		207,084		—		207,084
Total financial liabilities		—		207,084		—		207,084


	As of December 31, 2024
	Level 1		Level 2		Level 3		Total
	S/(000)		S/(000)		S/(000)		S/(000)
Financial assets
Financial investments
At fair value through profit or loss (*)		304,659		459,767		1,012,141		1,776,567
Debt instruments measured at fair value through other comprehensive income		12,722,114		7,655,691		—		20,377,805
Equity instruments measured at fair value through other comprehensive income		406,778		13,850		37,640		458,268
Derivatives receivable		—		143,201		—		143,201
		13,433,551		8,272,509		1,049,781		22,755,841
Accrued interest								347,087
Total financial assets								23,102,928
Financial liabilities
Derivatives payable		—		102,288		—		102,288
Liabilities at fair value through profit or loss		61,153		—		—		61,153
Total financial liabilities		61,153		102,288		—		163,441

(*) As of December 31, 2025 and 2024, correspond mainly to participation in mutual funds, and investment funds and shares.

Financial assets included in Level 1 are those measured on the basis of information that is available on the market, to the extent that their quoted prices reflect an active and liquid market and that are available in some centralized trading mechanism, trading agent, price supplier or regulatory entity.

Financial instruments included in Level 2 are valued based on the market prices of other instruments with similar characteristics or with financial valuation models based on information of variables observable in the market (interest rate curves, price vectors, etc.).

Financial assets included in Level 3 are valued by using assumptions and data that do not correspond to prices of operations traded on the market. The valuation requires Management to make certain assumptions about the model variables and data, including the forecast of cash flow, discount rate, credit risk and volatility.

During 2025, there were no transfers to or from level 1 to level 2. During 2024, there were transfers of certain financial instruments from Level 1 to Level 2 for an amount of S/7,995,000, because they stopped being actively traded during the year, and consequently, fair values were obtained by using observable market data. Likewise, during 2025 and 2024, there were transfers of certain financial instruments from Level 2 to Level 1 for an amount of S/19,763,000 and S/42,195,000, respectively.

During 2025 and 2024, there were no transfers of financial instruments to or from level 3 to level 1 or level 2.

The table below presents the disclosure of the comparison between the carrying amounts and fair values of the Group’s financial instruments that are not measured at their fair value, presented by level of fair value hierarchy:


	As of December 31, 2025										As of December 31, 2024
	Level 1		Level 2		Level 3		Fair value		Book value		Level 1		Level 2		Level 3		Fair value		Book value
	S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)
Assets
Cash and due from banks		14,035,949		—		—		14,035,949		14,035,949		12,615,226		—		—		12,615,226		12,615,226
Inter-bank funds		—		40,006		—		40,006		40,006		—		220,060		—		220,060		220,060
Investments at amortized cost		4,026,559		140,840		—		4,167,399		3,989,015		3,775,935		98,658		—		3,874,593		3,898,198
Loans, net		—		50,189,528		—		50,189,528		50,770,150		—		48,333,964		—		48,333,964		49,229,448
Due from customers on acceptances		—		51,332		—		51,332		51,332		—		9,163		—		9,163		9,163
Other accounts receivable and other assets, net		—		1,135,362		—		1,135,362		1,135,362		—		1,588,600		—		1,588,600		1,588,600
Reinsurance contract assets		—		57,182		—		57,182		57,182		—		18,602		—		18,602		18,602
Total		18,062,508		51,614,250		—		69,676,758		70,078,996		16,391,161		50,269,047		—		66,660,208		67,579,297
Liabilities
Deposits and obligations		—		56,042,175		—		56,042,175		56,027,630		—		53,770,487		—		53,770,487		53,768,028
Inter-bank funds		—		55,019		—		55,019		55,019		—		—		—		—		—
Due to banks and correspondents		—		7,183,314		—		7,183,314		7,166,014		—		7,706,223		—		7,706,223		7,562,057
Bonds, notes and other obligations		4,976,125		710,793		—		5,686,918		5,590,408		5,163,150		838,662		—		6,001,812		6,075,433
Due from customers on acceptances		—		51,332		—		51,332		51,332		—		9,163		—		9,163		9,163
Insurance and reinsurance contract liabilities		—		13,063,254		—		13,063,254		13,063,254		—		12,524,320		—		12,524,320		12,524,320
Other accounts payable and other liabilities		—		4,172,085		—		4,172,085		4,172,085		—		4,024,513		—		4,024,513		4,024,513
Total		4,976,125		81,277,972		—		86,254,097		86,125,742		5,163,150		78,873,368		—		84,036,518		83,963,514

The methodologies and assumptions used to determine fair values depend on the terms and risk characteristics of each financial instrument and they include the following: