Financial investments (Tables)

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)
Debt instruments measured at fair value through other comprehensive income (b) and (c)		21,299,397		20,377,805
Investments at amortized cost (d)		3,883,579		3,784,912
Investments at fair value through profit or loss (e)		1,965,991		1,776,567
Equity instruments measured at fair value through other comprehensive income (f)		556,149		458,268
Total financial investments		27,705,116		26,397,552
Accrued income
Debt instruments measured at fair value through other comprehensive income (b)		363,254		347,087
Investments at amortized cost (d)		105,436		113,286
Total		28,173,806		26,857,925

Summary of debt instruments measured at fair value through other comprehensive income

(b)

Following is the detail of debt instruments measured at fair value through other comprehensive income:


			Unrealized gross amount								Annual effective interest rates
	Amortized							Estimated		Maturity	S/				US$
2025	cost		Gains		Losses (c)			fair value			Min		Max		Min		Max
	S/(000)		S/(000)		S/(000)			S/(000)			%		%		%		%
Corporate, leasing and subordinated bonds (*)		9,667,248		213,688		(679,257	)		9,201,679	Jan-26 / Feb-97		3.09		41.26		3.23		18.64
Sovereign Bonds of the Republic of Peru (**)		8,855,018		183,759		(128,769	)		8,910,008	Aug-26 / Feb-55		2.08		6.58		—		—
Negotiable Certificates of Deposit issued by the Central Reserve Bank of Peru		2,057,974		15		(297	)		2,057,692	Jan-26 / Jun-26		3.96		4.04		—		—
Global Bonds of the Republic of Peru		550,343		5,424		(7,727	)		548,040	Jan-26 / Nov-50		—		—		3.96		10.58
Bonds guaranteed by the Peruvian Government		473,317		11,098		(1,062	)		483,353	Apr-28 / Oct-33		3.35		4.30		5.66		6.64
Treasury Bonds of the United States of America		62,364		81		(2,171	)		60,274	Jun-26 / Nov-55		—		—		3.84		4.84
Global Bonds of the United States of Mexico		26,562		165		(1,727	)		25,000	May-31 / Feb-34		—		—		4.98		5.62
Global Bonds of the Republic of Chile		11,357		87		(64	)		11,380	Jan-29 / Jan-32		—		—		4.13		4.55
Negotiable Certificates of Deposit from financial institutions		1,969		2		—			1,971	Apr-26		5.03		5.03		—		—
Total		21,706,152		414,319		(821,074	)		21,299,397
Accrued interest									363,254
Total									21,662,651

			Unrealized gross amount								Annual effective interest rates
	Amortized							Estimated		Maturity	S/				US$
2024	cost		Gains		Losses (c)			fair value			Min		Max		Min		Max
	S/(000)		S/(000)		S/(000)			S/(000)			%		%		%		%
Corporate, leasing and subordinated bonds (*)		9,867,060		111,866		(805,981	)		9,172,945	Jan-25 / Feb-97		2.20		14.00		3.70		10.86
Sovereign Bonds of the Republic of Peru (**)		8,331,426		24,387		(410,536	)		7,945,277	Aug-26 / Feb-55		2.81		7.12		—		—
Negotiable Certificates of Deposit issued by the Central Reserve Bank of Peru		2,113,571		370		(17	)		2,113,924	Jan-25 / Jun-25		4.51		4.68		—		—
Bonds guaranteed by the Peruvian Government		554,359		6,798		(4,603	)		556,554	Apr-28 / Oct-33		3.65		4.74		6.37		7.22
Global Bonds of the Republic of Peru		548,697		—		(27,058	)		521,639	Jul-25 / Nov-50		—		—		5.00		6.14
Treasury Bonds of the United States of America		57,607		—		(5,082	)		52,525	Nov-31 / Aug-34		—		—		4.46		4.53
Global Bonds of the United States of Mexico		18,100		—		(3,159	)		14,941	Feb-34		—		—		6.51		6.51
Total		21,490,820		143,421		(1,256,436	)		20,377,805
Accrued interest									347,087
Total									20,724,892

(*) As of December 31, 2025 and 2024, Inteligo Bank holds corporate bonds from several entities for approximately S/367,151,000 and S/410,509,000, respectively, which guarantee loans with BMO Capital Markets Corp. and Bank J. Safra Sarasin, see Note 12(d).

(**) As of December 31, 2025 and 2024, Interbank holds Sovereign Bonds of the Republic of Peru for approximately S/975,609,000 and S/1,027,038,000, respectively, which guarantee loans with foreign banks, see Note 12(d).

Summary of internal credit exposures explanatory

The following table shows the credit quality and maximum exposure to credit risk based on the Group's internal credit rating of debt instruments measured at fair value through other comprehensive income as of December 31, 2025 and 2024. The amounts presented do not consider impairment.


	2025								2024
	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		2,888,817		—		—		2,888,817		2,946,070		—		—		2,946,070
Standard grade		17,904,622		424,143		—		18,328,765		16,385,685		823,057		—		17,208,742
Sub-standard grade		—		4,258		77,557		81,815		—		222,993		—		222,993
Impaired
Individual		—		—		—		—		—		—		—		-
Total		20,793,439		428,401		77,557		21,299,397		19,331,755		1,046,050		—		20,377,805

Summary of analysis of changes in fair value and corresponding expected credit loss

The following table shows the analysis of changes in fair value and the corresponding expected credit loss:


	2025
Gross carrying amount of debt instruments measured at fair value through other comprehensive income	Stage 1			Stage 2			Stage 3			Total
	S/(000)			S/(000)			S/(000)			S/(000)
Beginning of year balances		19,331,755			1,046,050			—			20,377,805
New originated or purchased assets		5,527,693			—			—			5,527,693
Assets matured or derecognized (excluding write-offs)		(4,013,469	)		(164,020	)		(46,364	)		(4,223,853	)
Change in fair value		416,120			(51,589	)		(201,569	)		162,962
Transfers to Stage 1		78,049			(78,049	)		—			—
Transfers to Stage 2		(2,945	)		2,945			—			—
Transfers to Stage 3		—			(325,490	)		325,490			—
Write-offs		—			—			—			—
Foreign exchange effect		(543,764	)		(1,446	)		—			(545,210	)
End of year balances		20,793,439			428,401			77,557			21,299,397

	2025
Movement of the allowance for expected credit losses for debt instruments measured at fair value through other comprehensive income	Stage 1			Stage 2			Stage 3			Total
	S/(000)			S/(000)			S/(000)			S/(000)
Expected credit loss at the beginning of the period		9,383			85,707			—			95,090
New originated or purchased assets		2,140			—			—			2,140
Assets matured or derecognized (excluding write-offs)		(1,977	)		(1,229	)		—			(3,206	)
Transfers to Stage 1		3,371			(3,371	)		—			—
Transfers to Stage 2		(7	)		7			—			—
Transfers to Stage 3		—			(65,103	)		65,103			—
Effect on the expected credit loss due to the change of the stage during the year		(2,935	)		58			267,100			264,223
Others (*)		(1,209	)		1,813			—			604
Write-offs		(26	)		(1,486	)		(70,028	)		(71,540	)
Foreign exchange effect		(80	)		(88	)		(1	)		(169	)
Expected credit loss at the end of the period		8,660			16,308			262,174			287,142

(*) Corresponds mainly to the effects on the expected loss due to changes in investment ratings that do not necessarily have resulted in stage transfers during the year.


	2024
Gross carrying amount of debt instruments measured at fair value through other comprehensive income	Stage 1			Stage 2			Stage 3			Total
	S/(000)			S/(000)			S/(000)			S/(000)
Beginning of year balances		20,160,308			750,179			1,697			20,912,184
New originated or purchased assets		4,916,977			—			—			4,916,977
Assets matured or derecognized (excluding write-offs)		(5,166,123	)		(101,294	)		(1,718	)		(5,269,135	)
Change in fair value		(218,924	)		(28,365	)		—			(247,289	)
Transfers to Stage 1		—			—			—			—
Transfers to Stage 2		(425,221	)		425,221			—			—
Transfers to Stage 3		—			—			—			—
Write-offs		—			—			—			—
Foreign exchange effect		64,738			309			21			65,068
End of year balances		19,331,755			1,046,050			—			20,377,805

	2024
Movement of the allowance for expected credit losses for debt instruments measured at fair value through other comprehensive income	Stage 1			Stage 2			Stage 3			Total
	S/(000)			S/(000)			S/(000)			S/(000)
Expected credit loss at the beginning of the period		9,877			37,987			13,182			61,046
New originated or purchased assets		1,095			—			—			1,095
Assets matured or derecognized (excluding write-offs)		(851	)		(2,808	)		(256	)		(3,915	)
Transfers to Stage 1		—			—			—			—
Transfers to Stage 2		(1,053	)		1,053			—			—
Transfers to Stage 3		—			—			—			—
Effect on the expected credit loss due to the change of the stage during the year		—			8,958			—			8,958
Others (*)		457			40,926			—			41,383
Write-offs		—			—			(13,043	)		(13,043	)
Foreign exchange effect		(142	)		(409	)		117			(434	)
Expected credit loss at the end of the period		9,383			85,707			—			95,090

(*) Corresponds mainly to the effects on the expected loss due to changes in investment ratings that do not necessarily have resulted in stage transfers during the year.

Summary of financial instruments at fair value through profit or loss

(e)

The composition of financial instruments at fair value through profit or loss is as follows:


	2025		2024
	S/(000)		S/(000)
Equity instruments
Local and foreign mutual funds and investment funds participations		1,726,722		1,396,582
Listed shares		72,091		202,054
Non-listed shares		162,386		154,856
Debt instruments
Corporate, leasing and subordinated bonds		4,090		2,172
Sovereign Bonds of the Republic of Peru		702		8,538
Sovereign Bonds issued by foreign governments		—		2,431
Negotiable Certificates of Deposits issued by the BCRP		—		9,934
Total		1,965,991		1,776,567

Summary of equity instruments measured at fair value through other comprehensive income

(f)

The composition of equity instruments measured at fair value through other comprehensive income is as follow:


	2025		2024
	S/(000)		S/(000)
Listed shares (g)		522,380		420,474
Non-listed shares		33,769		37,794
Total		556,149		458,268

Summary of financial assets classified by contractual maturity

(h)

The following is the balance of investments at fair value through other comprehensive income (debt and equity instruments) and investments at amortized cost as of December 31, 2025 and 2024 classified by contractual maturity (without including accrued interest or future interest):


	2025				2024
	Investments at fair value through other comprehensive income		Investments at amortized cost		Investments at fair value through other comprehensive income		Investments at amortized cost
	S/(000)		S/(000)		S/(000)		S/(000)
Up to 3 months		1,954,844		60,408		1,973,030		52,301
From 3 months to 1 year		1,917,043		456,199		528,185		11,413
From 1 to 3 years		620,124		147,236		2,431,310		422,956
From 3 to 5 years		1,234,166		181,190		2,205,297		327,432
From 5 years onwards		15,573,220		3,038,546		13,239,983		2,970,810
Equity instruments (without maturity)		556,149		—		458,268		—
Total		21,855,546		3,883,579		20,836,073		3,784,912

Summary of stages as indicated by IFRS 9

(i)

Below are the debt instruments measured at fair value through other comprehensive income and at amortized cost according to the stages indicated by IFRS 9 as of December 31, 2025 and 2024:


	2025
Debt instruments measured at fair value through other comprehensive income and at amortized cost	Stage 1		Stage 2		Stage 3		Total
	S/(000)		S/(000)		S/(000)		S/(000)
Sovereign Bonds of the Republic of Peru		12,660,521		—		—		12,660,521
Corporate, leasing and subordinated bonds		8,695,720		428,402		77,557		9,201,679
Negotiable Certificates of Deposit issued by the BCRP		2,057,692		—		—		2,057,692
Global Bonds of the Republic of Peru		548,040		—		—		548,040
Bonds guaranteed by the Peruvian government		483,353		—		—		483,353
Term deposits		133,066		—		—		133,066
Treasury Bonds of the United States of America		60,274		—		—		60,274
Global Bonds of the United States of Mexico		25,000		—		—		25,000
Global Bonds of the Republic of Chile		11,380		—		—		11,380
Negotiable Certificates of Deposit from financial institutions		1,971		—		—		1,971
Total		24,677,017		428,402		77,557		25,182,976

	2024
Debt instruments measured at fair value through other comprehensive income and at amortized cost	Stage 1		Stage 2		Stage 3		Total
	S/(000)		S/(000)		S/(000)		S/(000)
Sovereign Bonds of the Republic of Peru		11,643,674		—		—		11,643,674
Corporate, leasing and subordinated bonds		8,126,895		1,046,050		—		9,172,945
Negotiable Certificates of Deposit issued by the BCRP		2,113,924		—		—		2,113,924
Bonds guaranteed by the Peruvian government		556,554		—		—		556,554
Global Bonds of the Republic of Peru		521,639		—		—		521,639
Term deposits		86,515		—		—		86,515
Treasury Bonds of the United States of America		52,525		—		—		52,525
Global Bonds of the United States of Mexico		14,941		—		—		14,941
Total		23,116,667		1,046,050		—		24,162,717