v3.26.1
Financial risk management (Tables)
 12 Months Ended
Dec. 31, 2025
Financial Risk Management [Line Items]  
Disclosure of Internal Credit Exposure Explanatory

In the case of Interbank, its Credit Risk Department determines its risk level according to the following classification, as of December 31, 2025 and 2024:

 

2025

 

 

 

 

High grade

 

Standard grade

 

Grade lower
than standard

Banking

 

Segment

 

PD less than or equal (*)

 

PD range (*)

 

PD equal to or higher (*)

 

 

 

 

 

 

 

 

 

 

Credit card

 

4.55%

 

4.56% - 10.32%

 

10.33%

 

Mortgage

 

1.51%

 

1.52% - 4.93%

 

4.94%

 

Payroll loans

 

2.63%

 

2.64% - 6.13%

 

6.14%

Personal Banking

 

Consumer

 

6.81%

 

6.82% - 14.93%

 

14.94%

 

Vehicular

 

5.88%

 

5.88%

 

5.88%

 

 

 

 

 

 

 

 

Small Business Banking

 

 

 

5.20%

 

5.21% - 14.24%

 

14.25%

 

 

 

 

 

 

 

 

 

Corporate

 

0.22%

 

0.23% - 0.44%

 

0.45%

Commercial Banking

 

Institutional

 

0.31%

 

0.31%

 

0.31%

 

Companies

 

0.79%

 

0.80% - 2.31%

 

2.32%

 

Real estate

 

0.31%

 

0.31%

 

0.31%

 

 

 

 

 

 

 

 

 

2024

 

 

 

 

High grade

 

Standard grade

 

Grade lower
than standard

Banking

 

Segment

 

PD less than or equal (*)

 

PD range (*)

 

PD equal to or higher (*)

 

 

 

 

 

 

 

 

 

 

Credit card

 

5.25%

 

5.26% - 12.05%

 

12.06%

 

Mortgage

 

1.12%

 

1.13% - 3.55%

 

3.56%

 

Payroll loans

 

2.36%

 

2.37% - 5.15%

 

5.16%

Personal Banking

 

Consumer

 

7.11%

 

7.12% - 14.68%

 

14.69%

 

Vehicular

 

3.76%

 

3.76%

 

3.76%

 

 

 

 

 

 

 

 

Small Business Banking

 

 

 

8.55%

 

8.56% - 17.86%

 

17.87%

 

 

 

 

 

 

 

 

 

Corporate

 

0.10%

 

0.11% - 0.20%

 

0.21%

Commercial Banking

 

Institutional

 

0.66%

 

0.66%

 

0.66%

 

Companies

 

3.45%

 

3.46% - 8.13%

 

8.14%

 

Real estate

 

2.61%

 

2.61%

 

2.61%

 

(*) The probability of default is exclusively determined by the statistical model and, therefore, does not include the subsequent adjustments to the model, detailed in Note 29.1 (d.8).
Summary of Expected Loss by Post-Model Adjustments

Following is the amount of the expected loss to direct and indirect loans as of December 31, 2025 and 2024, as determined by the model, and the subsequent adjustments to the model explained in previous paragraphs:

 

 

2025

 

 

Expected loss (according to model)

 

 

Subsequent adjustments to the model

 

 

Expected loss (total)

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

Commercial loans

 

159,186

 

 

 

15,547

 

 

 

174,733

 

Consumer loans

 

1,142,086

 

 

 

127,498

 

 

 

1,269,584

 

Mortgage loans

 

67,834

 

 

 

8,002

 

 

 

75,836

 

Small and micro-business loans

 

83,244

 

 

 

—

 

 

 

83,244

 

Total

 

1,452,350

 

 

 

151,047

 

 

 

1,603,397

 

 

 

 

 

2024

 

 

Expected loss (according to model)

 

 

Subsequent adjustments to the model

 

 

Expected loss (total)

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

Commercial loans

 

189,557

 

 

 

-

 

 

 

189,557

 

Consumer loans

 

1,218,011

 

 

 

154,846

 

 

 

1,372,857

 

Mortgage loans (*)

 

80,047

 

 

 

13,750

 

 

 

93,797

 

Small and micro-business loans

 

88,204

 

 

 

-

 

 

 

88,204

 

Total

 

1,575,819

 

 

 

168,596

 

 

 

1,744,415

 

 

(ii)
Subsequent adjustments to the model included in 2023:

With the purpose of reflecting the impact of the uncertainty of the intensity and occurrence probability of the El Niño event, Interbank decided to apply its expert judgment to stress the probability of default for its entire client portfolio. As of December 31, 2023, the impact of applying these criteria led to an increased expected loss provision of S/180,596,000.
Disclosure Of Macro Economic Variables

Macroeconomic variables used as of December 31, 2025:

 

 

 

Scenario

 

2026

 

 

2027

 

 

2028

 

 

 

 

 

 

 

 

 

 

 

 

 

 Gross domestic product (annual % var.)

 

Optimistic

 

 

3.3

%

 

 

3.0

%

 

 

3.5

%

 

 

Base

 

 

3.0

%

 

 

2.6

%

 

 

3.1

%

 

Pessimistic

 

 

2.2

%

 

 

2.0

%

 

 

2.5

%

Real formal average salary (annual % var.)

 

Optimistic

 

 

3.7

%

 

 

2.1

%

 

 

2.7

%

 

Base

 

 

2.0

%

 

 

1.1

%

 

 

1.4

%

 

Pessimistic

 

 

0.6

%

 

 

(0.1

%)

 

 

0.6

%

 Real informal average salary (annual % var.)

 

Optimistic

 

 

3.7

%

 

 

2.1

%

 

 

2.4

%

 

Base

 

 

1.8

%

 

 

1.1

%

 

 

1.3

%

 

Pessimistic

 

 

0.8

%

 

 

0.0

%

 

 

0.0

%

Real disposable income per capita (annual % var.)

 

Optimistic

 

 

5.7

%

 

 

3.0

%

 

 

4.4

%

 

Base

 

 

4.6

%

 

 

2.2

%

 

 

3.5

%

 

Pessimistic

 

 

2.5

%

 

 

1.7

%

 

 

2.9

%

 

Macroeconomic variables used as of December 31, 2024:

 

 

 

Scenario

 

2025

 

 

2026

 

 

2027

 

 

 

 

 

 

 

 

 

 

 

 

 

 Unemployment rate (annual % var.)

 

Optimistic

 

 

(3.9

%)

 

 

(4.7

%)

 

 

(7.6

%)

 

Base

 

 

(2.6

%)

 

 

(3.4

%)

 

 

(4.0

%)

 

Pessimistic

 

 

(0.7

%)

 

 

(0.1

%)

 

 

(0.4

%)

 Real disposable income per capita (annual % var.)

 

Optimistic

 

 

1.7

%

 

 

2.4

%

 

 

3.2

%

 

Base

 

 

1.1

%

 

 

2.0

%

 

 

2.7

%

 

Pessimistic

 

 

(0.7

%)

 

 

1.3

%

 

 

2.3

%

 Real formal average salary (annual % var.)

 

Optimistic

 

 

1.8

%

 

 

0.9

%

 

 

1.4

%

 

Base

 

 

1.3

%

 

 

0.5

%

 

 

0.7

%

 

Pessimistic

 

 

0.0

%

 

 

(0.1

%)

 

 

0.1

%

 Private formal employment (annual % var.)

 

Optimistic

 

 

3.5

%

 

 

3.0

%

 

 

3.2

%

 

Base

 

 

3.0

%

 

 

2.6

%

 

 

2.8

%

 

Pessimistic

 

 

2.1

%

 

 

2.1

%

 

 

2.3

%

 Real informal average salary (annual % var.)

 

Optimistic

 

 

1.4

%

 

 

1.3

%

 

 

1.2

%

 

Base

 

 

1.0

%

 

 

0.5

%

 

 

0.7

%

 

Pessimistic

 

 

0.3

%

 

 

(0.1

%)

 

 

0.1

%
Disclosure Of Impact Of Multiple Scenarios On The Allowance

The following tables summarize the impact of multiple scenarios on the expected credit loss of direct and indirect loans (optimistic, base and pessimistic):

 

December 31, 2025

 

%

 

 

Total

 

 

 

 

 

 

S/ (000)

 

Optimistic

 

 

4

 

 

 

59,337

 

Base

 

 

62

 

 

 

986,908

 

Pessimistic

 

 

34

 

 

 

557,152

 

Total

 

 

 

 

 

1,603,397

 

 

December 31, 2024

 

%

 

 

Total

 

 

 

 

 

 

S/ (000)

 

Optimistic

 

 

5

 

 

 

81,557

 

Base

 

 

58

 

 

 

999,681

 

Pessimistic

 

 

37

 

 

 

663,177

 

Total

 

 

 

 

 

1,744,415

 
Disclosure Of Fair Value Of The Loan Guarantees

The fair value of the loan guarantees as of December 31, 2025 and 2024, is presented below:

 

 

 

Fair value of the credit guarantee under the base scenario

 

As of December 31, 2025

 

Maximum exposure to credit risk

 

 

Cash

 

 

Investments

 

 

Properties

 

 

Others

 

 

Total guarantee (*)

 

 

Net
exposure

 

 

Expected loss associated

 

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

Subject to impairment

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and due from banks

 

 

14,035,949

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

14,035,949

 

 

 

—

 

Commercial loans

 

 

22,897,732

 

 

 

801,481

 

 

 

1,682,815

 

 

 

12,582,634

 

 

 

2,822,552

 

 

 

17,889,482

 

 

 

5,008,250

 

 

 

162,789

 

Small and micro-business loans

 

 

2,282,751

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

2,282,751

 

 

 

82,833

 

Consumer loans

 

 

15,248,665

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

15,248,665

 

 

 

1,269,584

 

Mortgage loans

 

 

11,400,784

 

 

 

—

 

 

 

—

 

 

 

17,753,719

 

 

 

—

 

 

 

17,753,719

 

 

 

(6,352,935

)

 

 

75,836

 

Direct loans

 

 

51,829,932

 

 

 

801,481

 

 

 

1,682,815

 

 

 

30,336,353

 

 

 

2,822,552

 

 

 

35,643,201

 

 

 

16,186,731

 

 

 

1,591,042

 

Debt instruments at amortized cost

 

 

3,883,579

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

3,883,579

 

 

 

—

 

Total financial assets at amortized cost

 

 

69,749,460

 

 

 

801,481

 

 

 

1,682,815

 

 

 

30,336,353

 

 

 

2,822,552

 

 

 

35,643,201

 

 

 

34,106,259

 

 

 

1,591,042

 

Debt instruments at fair value through other comprehensive income

 

 

21,299,397

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

21,299,397

 

 

 

287,142

 

Total debt instruments at fair value through other comprehensive income

 

 

21,299,397

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

21,299,397

 

 

 

287,142

 

Not subject to impairment

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Derivative financial instruments - Trading

 

 

108,530

 

 

 

60,063

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

60,063

 

 

 

48,467

 

 

 

—

 

Derivative financial instruments - Hedges

 

 

12,348

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

12,348

 

 

 

—

 

Financial assets at fair value through profit or loss

 

 

1,965,991

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

1,965,991

 

 

 

—

 

Total financial instruments at fair value through profit or loss

 

 

2,086,869

 

 

 

60,063

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

60,063

 

 

 

2,026,806

 

 

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

93,135,726

 

 

 

861,544

 

 

 

1,682,815

 

 

 

30,336,353

 

 

 

2,822,552

 

 

 

35,703,264

 

 

 

57,432,462

 

 

 

1,878,184

 

Financial guarantees (guarantees and stand-by letters)

 

 

5,149,829

 

 

 

35,735

 

 

 

122,777

 

 

 

2,023,139

 

 

 

1,325,502

 

 

 

3,507,153

 

 

 

1,642,676

 

 

 

11,941

 

Import and export letters of credit

 

 

417,893

 

 

 

—

 

 

 

38,653

 

 

 

—

 

 

 

—

 

 

 

38,653

 

 

 

379,240

 

 

 

414

 

Contingent loans - indirect loans

 

 

5,567,722

 

 

 

35,735

 

 

 

161,430

 

 

 

2,023,139

 

 

 

1,325,502

 

 

 

3,545,806

 

 

 

2,021,916

 

 

 

12,355

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

98,703,448

 

 

 

897,279

 

 

 

1,844,245

 

 

 

32,359,492

 

 

 

4,148,054

 

 

 

39,249,070

 

 

 

59,454,378

 

 

 

1,890,539

 

 

 

 

 

Fair value of the credit guarantee under the base scenario

 

As of December 31, 2024

 

Maximum exposure to credit risk

 

 

Cash

 

 

Investments

 

 

Properties

 

 

Others

 

 

Total guarantee (*)

 

 

Net
exposure

 

 

Expected loss associated

 

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

Subject to impairment

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and due from banks

 

 

12,615,226

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

12,615,226

 

 

 

—

 

Commercial loans

 

 

22,770,495

 

 

 

878,109

 

 

 

1,706,707

 

 

 

11,437,282

 

 

 

3,205,987

 

 

 

17,228,085

 

 

 

5,542,410

 

 

 

175,811

 

Small and micro-business loans

 

 

2,037,158

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

2,037,158

 

 

 

87,700

 

Consumer loans

 

 

15,036,411

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

15,036,411

 

 

 

1,372,856

 

Mortgage loans

 

 

10,571,300

 

 

 

—

 

 

 

—

 

 

 

18,926,685

 

 

 

—

 

 

 

18,926,685

 

 

 

(8,355,385

)

 

 

93,800

 

Direct loans

 

 

50,415,364

 

 

 

878,109

 

 

 

1,706,707

 

 

 

30,363,967

 

 

 

3,205,987

 

 

 

36,154,770

 

 

 

14,260,594

 

 

 

1,730,167

 

Debt instruments at amortized cost

 

 

3,784,912

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

3,784,912

 

 

 

53

 

Total financial assets at amortized cost

 

 

66,815,502

 

 

 

878,109

 

 

 

1,706,707

 

 

 

30,363,967

 

 

 

3,205,987

 

 

 

36,154,770

 

 

 

30,660,732

 

 

 

1,730,220

 

Debt instruments at fair value through other comprehensive income

 

 

20,377,805

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

20,377,805

 

 

 

95,090

 

Total debt instruments at fair value through other comprehensive income

 

 

20,377,805

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

20,377,805

 

 

 

95,090

 

Not subject to impairment

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Derivative financial instruments - Trading

 

 

72,746

 

 

 

35,645

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

35,645

 

 

 

37,101

 

 

 

—

 

Derivative financial instruments - Hedges

 

 

70,455

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

70,455

 

 

 

—

 

Financial assets at fair value through profit or loss

 

 

1,776,567

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

1,776,567

 

 

 

—

 

Total financial instruments at fair value through profit or loss

 

 

1,919,768

 

 

 

35,645

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

35,645

 

 

 

1,884,123

 

 

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

89,113,075

 

 

 

913,754

 

 

 

1,706,707

 

 

 

30,363,967

 

 

 

3,205,987

 

 

 

36,190,415

 

 

 

52,922,660

 

 

 

1,825,310

 

Financial guarantees (guarantees and stand-by letters)

 

 

4,695,331

 

 

 

21,981

 

 

 

143,731

 

 

 

2,005,957

 

 

 

1,471,778

 

 

 

3,643,447

 

 

 

1,051,884

 

 

 

14,005

 

Import and export letters of credit

 

 

373,363

 

 

 

695

 

 

 

24,442

 

 

 

—

 

 

 

67,752

 

 

 

92,889

 

 

 

280,474

 

 

 

243

 

Contingent loans - indirect loans

 

 

5,068,694

 

 

 

22,676

 

 

 

168,173

 

 

 

2,005,957

 

 

 

1,539,530

 

 

 

3,736,336

 

 

 

1,332,358

 

 

 

14,248

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

94,181,769

 

 

 

936,430

 

 

 

1,874,880

 

 

 

32,369,924

 

 

 

4,745,517

 

 

 

39,926,751

 

 

 

54,255,018

 

 

 

1,839,558

 

 

The following table shows the analysis of the fair values of the guarantees classified in Stage 3:

 

 

 

Fair value of the credit guarantee under the base scenario

 

As of December 31, 2025

 

Maximum exposure to credit risk

 

 

Cash

 

 

Investments

 

 

Guarantees from third parties or governments

 

 

Properties

 

 

Others

 

 

Total
guarantee (*)

 

 

Net
exposure

 

 

Expected loss associated

 

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

Commercial loans

 

 

281,258

 

 

 

2,627

 

 

 

264

 

 

 

—

 

 

 

399,849

 

 

 

13,217

 

 

 

415,957

 

 

 

(134,699

)

 

 

137,875

 

Small and micro-business loans

 

 

55,003

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

55,003

 

 

 

40,627

 

Consumer loans

 

 

472,061

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

472,061

 

 

 

452,932

 

Mortgage loans

 

 

347,035

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

723,164

 

 

 

—

 

 

 

723,164

 

 

 

(376,129

)

 

 

46,006

 

Total

 

 

1,155,357

 

 

 

2,627

 

 

 

264

 

 

 

—

 

 

 

1,123,013

 

 

 

13,217

 

 

 

1,139,121

 

 

 

16,236

 

 

 

677,440

 

Indirect loans

 

 

16,923

 

 

 

—

 

 

 

668

 

 

 

—

 

 

 

6,756

 

 

 

—

 

 

 

7,424

 

 

 

9,499

 

 

 

8,089

 

 

 

1,172,280

 

 

 

2,627

 

 

 

932

 

 

 

—

 

 

 

1,129,769

 

 

 

13,217

 

 

 

1,146,545

 

 

 

25,735

 

 

 

685,529

 

 

 

 

Fair value of the credit guarantee under the base scenario

 

As of December 31, 2024

 

Maximum exposure to credit risk

 

 

Cash

 

 

Investments

 

 

Guarantees from third parties or governments

 

 

Properties

 

 

Others

 

 

Total
guarantee (*)

 

 

Net
exposure

 

 

Expected loss associated

 

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

Commercial loans

 

 

322,464

 

 

 

2,936

 

 

 

1,045

 

 

 

—

 

 

 

529,922

 

 

 

26,107

 

 

 

560,010

 

 

 

(237,546

)

 

 

123,013

 

Small and micro-business loans

 

 

85,443

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

85,443

 

 

 

62,173

 

Consumer loans

 

 

514,691

 

 

 

2,936

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

2,936

 

 

 

511,755

 

 

 

494,700

 

Mortgage loans

 

 

325,095

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

782,659

 

 

 

—

 

 

 

782,659

 

 

 

(457,564

)

 

 

44,321

 

Total

 

 

1,247,693

 

 

 

5,872

 

 

 

1,045

 

 

 

—

 

 

 

1,312,581

 

 

 

26,107

 

 

 

1,345,605

 

 

 

(97,912

)

 

 

724,207

 

Indirect loans

 

 

23,948

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

7,561

 

 

 

—

 

 

 

7,561

 

 

 

16,387

 

 

 

9,335

 

 

 

1,271,641

 

 

 

5,872

 

 

 

1,045

 

 

 

—

 

 

 

1,320,142

 

 

 

26,107

 

 

 

1,353,166

 

 

 

(81,525

)

 

 

733,542

 

 

(*) Includes the total fair value of the guarantees held by the Group as of December 31, 2025 and 2024, regardless of the balance of the loan it guarantees.
Summary of Classification of Risk

The Group determines its risk level according to the following classification as of December 31, 2025 and 2024:

 

 

 

High grade

 

Standard grade

 

Grade lower than standard

2025

 

Rating: from AAA to A

 

Rating: from BBB to B

 

Rating: from CCC to C

 

 

PD less than or equal to:

 

PD range

 

PD equal to or higher than:

Global

 

0.05% - 0.11%

 

0.12% - 2.02%

 

23.87%

Latin America

 

0.00%

 

0.08% - 2.98%

 

22.47%

Sovereigns

 

0.00%

 

0.00% - 1.71%

 

25.00%

 

 

 

 

 

 

 

 

 

High grade

 

Standard grade

 

Grade lower than standard

2024

 

Rating: from AAA to A

 

Rating: from BBB to B

 

Rating: from CCC to C

 

 

PD less than or equal to:

 

PD range

 

PD equal to or higher than:

Global

 

0.05% - 0.11%

 

0.12% - 2.03%

 

23.31%

Latin America

 

0.00%

 

0.08% - 3.03%

 

22.32%

Sovereigns

 

0.00%

 

0.00% - 1.78%

 

26.56%
Disclosure of External Credit Exposures

The table below presents the credit risk ratings issued by risk rating agencies of recognized prestige local and international financial investments:

 

 

 

As of December 31, 2025

 

 

As of December 31, 2024

 

 

 

S/(000)

 

 

%

 

 

S/(000)

 

 

%

 

Instruments issued and rated in Peru:

 

 

 

 

 

 

 

 

 

 

 

 

BBB- / BBB+

 

 

2,621,105

 

 

 

9.2

 

 

 

2,287,880

 

 

 

8.5

 

BB- / BB+

 

 

773,621

 

 

 

2.8

 

 

 

1,028,735

 

 

 

3.8

 

B- / B+

 

 

130,996

 

 

 

0.5

 

 

 

111,708

 

 

 

0.4

 

Less than B-

 

 

3,536

 

 

 

0.0

 

 

 

4,664

 

 

 

0.0

 

 

 

3,529,258

 

 

 

12.5

 

 

 

3,432,987

 

 

 

12.7

 

Instruments issued in Peru and rated abroad:

 

 

 

 

 

 

 

 

 

 

 

 

BBB- / BBB+

 

 

15,354,696

 

 

 

54.5

 

 

 

14,011,438

 

 

 

52.2

 

BB- / BB+

 

 

440,946

 

 

 

1.6

 

 

 

774,100

 

 

 

2.9

 

Less than B-

 

 

78,279

 

 

 

0.3

 

 

 

218,328

 

 

 

0.8

 

 

 

15,873,921

 

 

 

56.4

 

 

 

15,003,866

 

 

 

55.9

 

Instruments issued and rated abroad:

 

 

 

 

 

 

 

 

 

 

 

 

AAA

 

 

8,320

 

 

 

0.0

 

 

 

9,429

 

 

 

0.0

 

AA- / AA+

 

 

143,289

 

 

 

0.5

 

 

 

111,247

 

 

 

0.4

 

A- / A+

 

 

679,515

 

 

 

2.4

 

 

 

689,996

 

 

 

2.6

 

BBB- / BBB+

 

 

2,642,879

 

 

 

9.4

 

 

 

2,581,191

 

 

 

9.6

 

BB- / BB+

 

 

93,243

 

 

 

0.3

 

 

 

124,581

 

 

 

0.5

 

B- / B+

 

 

24,550

 

 

 

0.1

 

 

 

19,689

 

 

 

0.1

 

 

 

3,591,796

 

 

 

12.7

 

 

 

3,536,133

 

 

 

13.2

 

 

 

 

 

 

 

 

 

 

 

 

 

Unrated

 

 

 

 

 

 

 

 

 

 

 

 

Negotiable certificates of deposit issued by the BCRP

 

 

2,057,692

 

 

 

7.3

 

 

 

2,123,858

 

 

 

8.0

 

Mutual funds and investment funds participations (*)

 

 

1,726,722

 

 

 

6.1

 

 

 

1,396,582

 

 

 

5.2

 

Term deposits

 

 

133,066

 

 

 

0.5

 

 

 

86,515

 

 

 

0.3

 

Others

 

 

2,035

 

 

 

0.0

 

 

 

2,433

 

 

 

0.0

 

 

 

3,919,515

 

 

 

13.9

 

 

 

3,609,388

 

 

 

13.5

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Listed shares (**)

 

 

594,471

 

 

 

2.1

 

 

 

622,528

 

 

 

2.3

 

Non-listed shares

 

 

196,155

 

 

 

0.7

 

 

 

192,650

 

 

 

0.7

 

Subtotal

 

 

27,705,116

 

 

 

98.3

 

 

 

26,397,552

 

 

 

98.3

 

Accrued interest

 

 

468,690

 

 

 

1.7

 

 

 

460,373

 

 

 

1.7

 

Total

 

 

28,173,806

 

 

 

100.0

 

 

 

26,857,925

 

 

 

100.0

 

 

(*) Includes mutual and investment funds which do not have risk rating.

(**) Includes instruments at fair value through profit or loss, see Note 5(e), and instruments at fair value through other comprehensive income, see Note 5(f).
Disclosure Of Credit Risk Exposure Explanatory

Financial instruments exposed to credit risk were distributed according to the following economic sectors:

 

 

 

As of December 31, 2025

 

 

 

Designated
at fair
value
through
profit or
loss

 

 

Debt
instruments
measured at
fair value
through
other
comprehensive
income

 

 

Equity
instruments
measured at
fair value
through
other
comprehensive
income

 

 

Investments at amortized
cost

 

 

Total

 

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

Consumer loans

 

 

—

 

 

 

—

 

 

 

—

 

 

 

15,287,338

 

 

 

15,287,338

 

Government of Peru

 

 

—

 

 

 

9,458,048

 

 

 

—

 

 

 

3,750,513

 

 

 

13,208,561

 

Mortgage loans

 

 

—

 

 

 

—

 

 

 

—

 

 

 

11,408,187

 

 

 

11,408,187

 

Commercial and micro-business loans

 

 

—

 

 

 

—

 

 

 

—

 

 

 

10,063,824

 

 

 

10,063,824

 

BCRP

 

 

—

 

 

 

2,057,692

 

 

 

—

 

 

 

8,941,024

 

 

 

10,998,716

 

Financial services

 

 

1,681,876

 

 

 

1,476,980

 

 

 

109,795

 

 

 

6,400,724

 

(*)

 

9,669,375

 

Manufacturing

 

 

194,542

 

 

 

942,150

 

 

 

209,750

 

 

 

3,577,083

 

 

 

4,923,525

 

Mining

 

 

1,994

 

 

 

1,312,651

 

 

 

—

 

 

 

2,779,607

 

 

 

4,094,252

 

Communications, storage and transportation

 

 

56,368

 

 

 

688,801

 

 

 

33,631

 

 

 

2,258,425

 

 

 

3,037,225

 

Construction and infrastructure

 

 

27,813

 

 

 

2,169,122

 

 

 

59,030

 

 

 

699,079

 

 

 

2,955,044

 

Agriculture

 

 

—

 

 

 

27,642

 

 

 

1,698

 

 

 

2,472,695

 

 

 

2,502,035

 

Electricity, gas, water and oil

 

 

20,250

 

 

 

1,820,016

 

 

 

142,245

 

 

 

196,292

 

 

 

2,178,803

 

Professional, scientific and technical activities

 

 

72,185

 

 

 

226,645

 

 

 

—

 

 

 

938,565

 

 

 

1,237,395

 

Commerce

 

 

3,940

 

 

 

537,330

 

 

 

—

 

 

 

415,935

 

 

 

957,205

 

Leaseholds and real estate activities

 

 

4,578

 

 

 

268,511

 

 

 

—

 

 

 

541,735

 

 

 

814,824

 

Community services

 

 

904

 

 

 

6,571

 

 

 

—

 

 

 

496,505

 

 

 

503,980

 

Education, health and other services

 

 

—

 

 

 

80,149

 

 

 

—

 

 

 

201,180

 

 

 

281,329

 

Medicine and biotechnology

 

 

—

 

 

 

34,330

 

 

 

—

 

 

 

235,634

 

 

 

269,964

 

Insurance

 

 

19

 

 

 

13,284

 

 

 

—

 

 

 

174,266

 

 

 

187,569

 

Foreign governments

 

 

—

 

 

 

96,654

 

 

 

—

 

 

 

—

 

 

 

96,654

 

Fishing

 

 

—

 

 

 

—

 

 

 

—

 

 

 

90,530

 

 

 

90,530

 

Public administration and defense

 

 

22,400

 

 

 

81,543

 

 

 

—

 

 

 

5,879

 

 

 

109,822

 

Private activities (employer and/or producer)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

98,322

 

 

 

98,322

 

Others

 

 

—

 

 

 

1,278

 

 

 

—

 

 

 

—

 

 

 

1,278

 

Total

 

 

2,086,869

 

 

 

21,299,397

 

 

 

556,149

 

 

 

71,033,342

 

 

 

94,975,757

 

Impairment allowance for loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1,591,042

)

Accrued interest

 

 

 

 

 

 

 

 

 

 

 

 

 

 

999,950

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

94,384,665

 

 

(*) Includes mainly cash and due from banks deposited in the vaults of Interbank and in foreign banks; see Note 4.

 

As of December 31, 2024

 

 

Designated
at fair
value
through
profit or
loss

 

 

Debt
instruments
measured at
fair value
through
other
comprehensive
income

 

 

Equity
instruments
measured at
fair value
through
other
comprehensive
income

 

 

Investments at amortized
cost

 

 

Total

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

Consumer loans

 

—

 

 

 

—

 

 

 

—

 

 

 

15,094,313

 

 

 

15,094,313

 

Government of Peru

 

—

 

 

 

8,466,916

 

 

 

—

 

 

 

3,698,395

 

 

 

12,165,311

 

Mortgage loans

 

—

 

 

 

—

 

 

 

—

 

 

 

10,579,426

 

 

 

10,579,426

 

Commercial and micro-business loans

 

—

 

 

 

—

 

 

 

—

 

 

 

10,236,695

 

 

 

10,236,695

 

BCRP

 

—

 

 

 

2,113,925

 

 

 

—

 

 

 

7,951,226

 

 

 

10,065,151

 

Financial services

 

1,693,571

 

 

 

1,672,720

 

 

 

126,594

 

 

 

6,530,688

 

(*)

 

10,023,573

 

Manufacturing

 

87,764

 

 

 

797,082

 

 

 

171,920

 

 

 

4,155,680

 

 

 

5,212,446

 

Mining

 

2,792

 

 

 

1,234,867

 

 

 

—

 

 

 

2,436,753

 

 

 

3,674,412

 

Construction and infrastructure

 

17,203

 

 

 

2,501,203

 

 

 

38,640

 

 

 

772,165

 

 

 

3,329,211

 

Communications, storage and transportation

 

55,385

 

 

 

654,287

 

 

 

37,640

 

 

 

1,946,274

 

 

 

2,693,586

 

Agriculture

 

87

 

 

 

27,286

 

 

 

3,714

 

 

 

2,393,311

 

 

 

2,424,398

 

Electricity, gas, water and oil

 

12,820

 

 

 

1,685,411

 

 

 

74,750

 

 

 

157,841

 

 

 

1,930,822

 

Commerce

 

15,754

 

 

 

508,195

 

 

 

—

 

 

 

414,063

 

 

 

938,012

 

Professional, scientific and technical activities

 

—

 

 

 

214,358

 

 

 

—

 

 

 

714,871

 

 

 

929,229

 

Leaseholds and real estate activities

 

10,980

 

 

 

187,953

 

 

 

—

 

 

 

448,839

 

 

 

647,772

 

Community services

 

611

 

 

 

7,509

 

 

 

—

 

 

 

540,084

 

 

 

548,204

 

Education, health and other services

 

540

 

 

 

94,202

 

 

 

—

 

 

 

213,206

 

 

 

307,948

 

Medicine and biotechnology

 

—

 

 

 

36,138

 

 

 

—

 

 

 

190,510

 

 

 

226,648

 

Public administration and defense

 

21,894

 

 

 

91,702

 

 

 

—

 

 

 

7,885

 

 

 

121,481

 

Fishing

 

—

 

 

 

—

 

 

 

5,010

 

 

 

79,112

 

 

 

84,122

 

Foreign governments

 

—

 

 

 

67,468

 

 

 

—

 

 

 

—

 

 

 

67,468

 

Insurance

 

363

 

 

 

12,075

 

 

 

—

 

 

 

4,728

 

 

 

17,166

 

Private activities (employer and/or producer)

 

—

 

 

 

—

 

 

 

—

 

 

 

85,863

 

 

 

85,863

 

Others

 

4

 

 

 

4,507

 

 

 

—

 

 

 

—

 

 

 

4,511

 

Total

 

1,919,768

 

 

 

20,377,804

 

 

 

458,268

 

 

 

68,651,928

 

 

 

91,407,768

 

Impairment allowance for loans

 

 

 

 

 

 

 

 

 

 

 

 

 

(1,730,167

)

Accrued interest

 

 

 

 

 

 

 

 

 

 

 

 

 

1,004,624

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

90,682,225

 

 

(*) Includes mainly cash and due from banks deposited in the vaults of Interbank and in foreign banks; see Note 4.
Summary of Financial Instruments Exposed to Credit Risk by Geographic Area

The table below presents the financial instruments with exposure to credit risk, by geographic area:

 

 

 

As of December 31, 2025

 

 

 

Designated
at fair
value
through
profit or
loss

 

 

Debt
instruments
measured at
fair value
through
other
comprehensive
income

 

 

Equity
instruments
measured at
fair value
through
other
comprehensive
income

 

 

Investments at
amortized
cost

 

 

Total

 

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

Peru

 

 

66,904

 

 

 

17,709,665

 

 

 

412,723

 

 

 

68,115,007

 

 

 

86,304,299

 

United States of America

 

 

1,626,883

 

 

 

867,587

 

 

 

33,631

 

 

 

618,154

 

 

 

3,146,255

 

Mexico

 

 

1,988

 

 

 

1,054,343

 

 

 

—

 

 

 

13,288

 

 

 

1,069,619

 

Chile

 

 

2

 

 

 

775,432

 

 

 

—

 

 

 

26,061

 

 

 

801,495

 

Panama

 

 

—

 

 

 

146,000

 

 

 

310

 

 

 

600,317

 

 (*)

 

746,627

 

United Kingdom

 

 

101,668

 

 

 

247,148

 

 

 

107,818

 

 

 

58,419

 

 

 

515,053

 

Luxembourg

 

 

42,730

 

 

 

15,093

 

 

 

—

 

 

 

342,413

 

 

 

400,236

 

Brazil

 

 

—

 

 

 

286,358

 

 

 

—

 

 

 

19,160

 

 

 

305,518

 

Canada

 

 

57,655

 

 

 

16,583

 

 

 

—

 

 

 

229,109

 

 

 

303,347

 

Cayman Islands

 

 

100,712

 

 

 

410

 

 

 

—

 

 

 

134,520

 

 

 

235,642

 

Ecuador

 

 

—

 

 

 

—

 

 

 

—

 

 

 

206,740

 

 

 

206,740

 

Bahamas

 

 

—

 

 

 

—

 

 

 

—

 

 

 

169,073

 

 

 

169,073

 

Colombia

 

 

71

 

 

 

96,348

 

 

 

—

 

 

 

54,390

 

 

 

150,809

 

Germany

 

 

25,334

 

 

 

528

 

 

 

—

 

 

 

70,403

 

 

 

96,265

 

Ireland

 

 

24,574

 

 

 

589

 

 

 

—

 

 

 

45,377

 

 

 

70,540

 

Suiza

 

 

—

 

 

 

4,382

 

 

 

—

 

 

 

62,785

 

 

 

67,167

 

Venezuela

 

 

—

 

 

 

—

 

 

 

—

 

 

 

66,159

 

 

 

66,159

 

Spain

 

 

5,125

 

 

 

673

 

 

 

—

 

 

 

24,001

 

 

 

29,799

 

Argentina

 

 

—

 

 

 

—

 

 

 

—

 

 

 

16,844

 

 

 

16,844

 

Others

 

 

33,223

 

 

 

78,258

 

 

 

1,667

 

 

 

161,122

 

 

 

274,270

 

Total

 

 

2,086,869

 

 

 

21,299,397

 

 

 

556,149

 

 

 

71,033,342

 

 

 

94,975,757

 

Impairment allowance for loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1,591,042

)

Accrued interest

 

 

 

 

 

 

 

 

 

 

 

 

 

 

999,950

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

94,384,665

 

 

(*) Corresponds mainly to the loan portfolio maintained by Inteligo Bank (domiciled in Panama) with Peruvian citizens.

 

 

 

As of December 31, 2024

 

 

 

Designated
at fair
value
through
profit or
loss

 

 

Debt
instruments
measured at
fair value
through
other
comprehensive
income

 

 

Equity
instruments
measured at
fair value
through
other
comprehensive
income

 

 

Investments at
amortized
cost

 

 

Total

 

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

Peru

 

 

138,125

 

 

 

16,843,710

 

 

 

294,034

 

 

 

65,957,138

 

 

 

83,233,007

 

United States of America

 

 

1,499,518

 

 

 

896,372

 

 

 

37,640

 

 

 

823,188

 

 

 

3,256,718

 

Mexico

 

 

17,996

 

 

 

1,017,363

 

 

 

—

 

 

 

10,733

 

 

 

1,046,092

 

Chile

 

 

1

 

 

 

807,524

 

 

 

7,995

 

 

 

32,038

 

 

 

847,558

 

Panama

 

 

461

 

 

 

148,363

 

 

 

277

 

 

 

479,425

 

(*)

 

628,526

 

United Kingdom

 

 

94,483

 

 

 

264,082

 

 

 

116,458

 

 

 

135,358

 

 

 

610,381

 

Bahamas

 

 

—

 

 

 

—

 

 

 

—

 

 

 

243,750

 

 

 

243,750

 

Canada

 

 

1,256

 

 

 

15,387

 

 

 

—

 

 

 

219,857

 

 

 

236,500

 

Ecuador

 

 

—

 

 

 

—

 

 

 

—

 

 

 

231,087

 

 

 

231,087

 

Colombia

 

 

79

 

 

 

121,545

 

 

 

—

 

 

 

105,332

 

 

 

226,956

 

Brazil

 

 

—

 

 

 

146,286

 

 

 

—

 

 

 

30,848

 

 

 

177,134

 

Germany

 

 

23,326

 

 

 

587

 

 

 

—

 

 

 

123,436

 

 

 

147,349

 

Cayman Islands

 

 

116,217

 

 

 

1,186

 

 

 

—

 

 

 

—

 

 

 

117,403

 

Luxembourg

 

 

—

 

 

 

15,534

 

 

 

—

 

 

 

68,835

 

 

 

84,369

 

Suiza

 

 

—

 

 

 

4,743

 

 

 

—

 

 

 

56,542

 

 

 

61,285

 

Venezuela

 

 

—

 

 

 

—

 

 

 

—

 

 

 

54,261

 

 

 

54,261

 

Spain

 

 

—

 

 

 

9,933

 

 

 

—

 

 

 

20,394

 

 

 

30,327

 

Argentina

 

 

—

 

 

 

—

 

 

 

—

 

 

 

19,349

 

 

 

19,349

 

Ireland

 

 

—

 

 

 

553

 

 

 

—

 

 

 

624

 

 

 

1,177

 

Belgium

 

 

—

 

 

 

154

 

 

 

—

 

 

 

1

 

 

 

155

 

Others

 

 

28,306

 

 

 

84,482

 

 

 

1,864

 

 

 

39,732

 

 

 

154,384

 

Total

 

 

1,919,768

 

 

 

20,377,804

 

 

 

458,268

 

 

 

68,651,928

 

 

 

91,407,768

 

Impairment allowance for loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1,730,167

)

Accrued interest

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1,004,624

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

90,682,225

 

 

(*) Corresponds mainly to the loan portfolio maintained by Inteligo Bank (domiciled in Panama) with Peruvian citizens.
Disclosure Of Off setting Of Financial Assets Explanatory Financial assets subject to offsetting, enforceable master netting arrangements and similar agreements as of December 31, 2025 and 2024, are presented below:

 

 

 

 

 

 

Gross amounts
of recognized
financial
liabilities
and offset

 

 

Net amounts of
financial assets
presented in the

 

 

Related amounts not offset in the
consolidated statement of
financial position

 

 

 

 

 

 

Gross amounts
of recognized
financial assets

 

 

in the consolidated
statement
of financial
position

 

 

consolidated
statement
of financial
position

 

 

Financial instruments (including non-cash guarantees)

 

 

Cash guarantees received

 

 

Net amount

 

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

2025

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Derivatives, Note 10(b)

 

 

120,878

 

 

 

—

 

 

 

120,878

 

 

 

(31,633

)

 

 

(60,063

)

 

 

29,182

 

Total

 

 

120,878

 

 

 

—

 

 

 

120,878

 

 

 

(31,633

)

 

 

(60,063

)

 

 

29,182

 

2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Derivatives, Note 10(b)

 

 

143,201

 

 

 

—

 

 

 

143,201

 

 

 

(30,231

)

 

 

(35,645

)

 

 

77,325

 

Total

 

 

143,201

 

 

 

—

 

 

 

143,201

 

 

 

(30,231

)

 

 

(35,645

)

 

 

77,325

 
Disclosure Of Off setting Of Financial Liabilities Explanatory Financial liabilities subject to offsetting, enforceable master netting arrangements and similar agreements as of December 31, 2025 and 2024, are presented below:

 

 

 

 

 

 

Gross amounts
of recognized
financial assets
and offset
in the

 

 

Net amounts
of financial
liabilities
presented
in the

 

 

Related amounts not offset in
the consolidated statement of
financial position

 

 

 

 

 

 

Gross amounts
of recognized
financial
liabilities

 

 

consolidated
statement of
financial
position

 

 

consolidated
statement of
financial
position

 

 

Financial instruments (including non-cash guarantees)

 

 

Cash
guarantees
pledged, Note 4(d)

 

 

Net amount

 

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

2025

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Derivatives, Note 10(b)

 

 

207,084

 

 

 

—

 

 

 

207,084

 

 

 

(31,633

)

 

 

(93,021

)

 

 

82,430

 

Total

 

 

207,084

 

 

 

—

 

 

 

207,084

 

 

 

(31,633

)

 

 

(93,021

)

 

 

82,430

 

2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Derivatives, Note 10(b)

 

 

102,288

 

 

 

—

 

 

 

102,288

 

 

 

(30,231

)

 

 

(21,568

)

 

 

50,489

 

Total

 

 

102,288

 

 

 

—

 

 

 

102,288

 

 

 

(30,231

)

 

 

(21,568

)

 

 

50,489

 
Summary of Value at Risk by Type of Asset

The VaR results of the Group’s portfolio by type of asset are presented below:

 

 

 

2025

 

 

2024

 

 

 

S/(000)

 

 

S/(000)

 

Equity investments

 

 

38,170

 

 

 

36,036

 

Debt investments

 

 

116

 

 

 

131

 

Derivatives and/or exchange position

 

 

12,322

 

 

 

953

 

Diversification effect

 

 

(8,832

)

 

 

(243

)

Consolidated VaR by type of asset (*)

 

 

41,776

 

 

 

36,877

 

 

The Group’s VaR results by type of risk are the following:

 

 

 

2025

 

 

2024

 

 

 

S/(000)

 

 

S/(000)

 

Exchange rate risk

 

 

5,374

 

 

 

2,893

 

Interest rate risk

 

 

952

 

 

 

376

 

Price risk

 

 

36,324

 

 

 

37,804

 

Diversification effect

 

 

(874

)

 

 

(4,196

)

Consolidated VaR by type of risk (*)

 

 

41,776

 

 

 

36,877

 
Summary of Increase Decrease In Interest Rate And Impact On Results Explanatory

The table below presents the sensitivity to a possible change in interest rates, with all other variables kept constant, in the consolidated statement of income and in the consolidated statement of changes in equity, before Income Tax and non-controlling interest.

 

 

 

As of December 31, 2025

 

Currency

 

Changes in
basis points

 

Sensitivity
of net income

 

 

Sensitivity of other net
comprehensive income

 

 

 

 

 

S/(000)

 

 

S/(000)

 

US Dollar

 

+/-25

 

+/-

 

 

1,569

 

 

+/-

 

 

139,317

 

US Dollar

 

+/-50

 

+/-

 

 

3,139

 

 

+/-

 

 

278,784

 

US Dollar

 

+/-75

 

+/-

 

 

4,709

 

 

+/-

 

 

418,550

 

US Dollar

 

+/-100

 

+/-

 

 

6,279

 

 

+/-

 

 

558,764

 

Sol

 

+/-50

 

-/+

 

 

44,542

 

 

-/+

 

 

656,467

 

Sol

 

+/-75

 

-/+

 

 

66,813

 

 

-/+

 

 

985,415

 

Sol

 

+/-100

 

-/+

 

 

89,084

 

 

-/+

 

 

1,315,229

 

Sol

 

+/-150

 

-/+

 

 

133,627

 

 

-/+

 

 

1,978,637

 

 

 

 

As of December 31, 2024

 

Currency

 

Changes in
basis points

 

Sensitivity
of net income

 

 

Sensitivity of other net
comprehensive income

 

 

 

 

 

S/(000)

 

 

S/(000)

 

US Dollar

 

+/-25

 

+/-

 

 

83

 

 

+/-

 

 

129,434

 

US Dollar

 

+/-50

 

+/-

 

 

163

 

 

+/-

 

 

259,018

 

US Dollar

 

+/-75

 

+/-

 

 

245

 

 

+/-

 

 

388,891

 

US Dollar

 

+/-100

 

+/-

 

 

325

 

 

+/-

 

 

519,209

 

Sol

 

+/-50

 

-/+

 

 

48,323

 

 

-/+

 

 

624,757

 

Sol

 

+/-75

 

-/+

 

 

72,484

 

 

-/+

 

 

937,824

 

Sol

 

+/-100

 

-/+

 

 

96,645

 

 

-/+

 

 

1,251,722

 

Sol

 

+/-150

 

-/+

 

 

144,968

 

 

-/+

 

 

1,883,154

 
Disclosure Of Calculation Of Sensitivity In Market Prices And The Effect On Expected Unrealized Gain Or Loss In The Consolidated Statements Of Other Comprehensive Income However, a calculation of sensitivity in market prices and the effect on expected unrealized gain or loss in the consolidated statement of other comprehensive income, before income tax and non-controlling interest, as of December 31, 2025 and 2024, is presented below:

 

 

 

Changes in
market
price

 

2025

 

 

2024

 

Sensitivity to market price

 

%

 

S/(000)

 

 

S/(000)

 

Shares

 

+/-10

 

 

55,615

 

 

 

45,827

 

Shares

 

+/-25

 

 

139,037

 

 

 

114,567

 

Shares

 

+/-30

 

 

166,845

 

 

 

137,480

 
Summary of Foreign Exchange Risk Position Of Group

The table below presents the detail of the Group’s position:

 

 

 

As of December 31, 2025

 

 

 

US Dollars

 

 

Soles

 

 

Other
currencies

 

 

Total

 

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

Cash and due from banks

 

 

9,784,117

 

 

 

3,963,653

 

 

 

288,179

 

 

 

14,035,949

 

Inter-bank funds

 

 

—

 

 

 

40,006

 

 

 

—

 

 

 

40,006

 

Financial investments

 

 

7,731,572

 

 

 

20,387,567

 

 

 

54,667

 

 

 

28,173,806

 

Loans, net

 

 

14,424,941

 

 

 

36,345,209

 

 

 

—

 

 

 

50,770,150

 

Due from customers on acceptances

 

 

51,332

 

 

 

—

 

 

 

—

 

 

 

51,332

 

Other accounts receivable and other assets, net

 

 

240,769

 

 

 

1,014,491

 

 

 

980

 

 

 

1,256,240

 

Reinsurance contract assets

 

 

2,056

 

 

 

55,126

 

 

 

—

 

 

 

57,182

 

 

 

32,234,787

 

 

 

61,806,052

 

 

 

343,826

 

 

 

94,384,665

 

Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

Deposits and obligations

 

 

19,301,489

 

 

 

36,216,857

 

 

 

509,284

 

 

 

56,027,630

 

Inter-bank funds

 

 

—

 

 

 

55,019

 

 

 

—

 

 

 

55,019

 

Due to banks and correspondents

 

 

2,049,531

 

 

 

5,116,483

 

 

 

—

 

 

 

7,166,014

 

Bonds, notes and other obligations

 

 

4,879,304

 

 

 

711,104

 

 

 

—

 

 

 

5,590,408

 

Due from customers on acceptances

 

 

51,332

 

 

 

—

 

 

 

—

 

 

 

51,332

 

Insurance and reinsurance contract liabilities

 

 

3,609,743

 

 

 

9,453,511

 

 

 

—

 

 

 

13,063,254

 

Other accounts payable, provisions and other liabilities

 

 

1,929,823

 

 

 

2,438,585

 

 

 

10,761

 

 

 

4,379,169

 

 

 

31,821,222

 

 

 

53,991,559

 

 

 

520,045

 

 

 

86,332,826

 

Forwards position, net

 

 

(2,443,784

)

 

 

2,206,289

 

 

 

237,495

 

 

 

—

 

Currency swaps position, net

 

 

718,766

 

 

 

(718,766

)

 

 

—

 

 

 

—

 

Cross currency swaps position, net

 

 

1,850,650

 

 

 

(1,850,650

)

 

 

—

 

 

 

—

 

Options position, net

 

 

(66

)

 

 

66

 

 

 

—

 

 

 

—

 

Monetary position, net

 

 

539,131

 

 

 

7,451,432

 

 

 

61,276

 

 

 

8,051,839

 

 

 

 

As of December 31, 2024

 

 

 

US Dollars

 

 

Soles

 

 

Other
currencies

 

 

Total

 

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

Cash and due from banks

 

 

8,615,546

 

 

 

3,676,441

 

 

 

323,239

 

 

 

12,615,226

 

Inter-bank funds

 

 

—

 

 

 

220,060

 

 

 

—

 

 

 

220,060

 

Financial investments

 

 

7,456,057

 

 

 

19,356,325

 

 

 

45,543

 

 

 

26,857,925

 

Loans, net

 

 

14,372,955

 

 

 

34,848,570

 

 

 

7,923

 

 

 

49,229,448

 

Due from customers on acceptances

 

 

9,163

 

 

 

—

 

 

 

—

 

 

 

9,163

 

Other accounts receivable and other assets, net

 

 

405,658

 

 

 

1,326,121

 

 

 

22

 

 

 

1,731,801

 

Reinsurance contract assets

 

 

207

 

 

 

18,395

 

 

 

—

 

 

 

18,602

 

 

 

30,859,586

 

 

 

59,445,912

 

 

 

376,727

 

 

 

90,682,225

 

Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

Deposits and obligations

 

 

19,802,404

 

 

 

33,451,094

 

 

 

514,530

 

 

 

53,768,028

 

Due to banks and correspondents

 

 

2,210,040

 

 

 

5,352,017

 

 

 

—

 

 

 

7,562,057

 

Bonds, notes and other obligations

 

 

5,227,805

 

 

 

847,628

 

 

 

—

 

 

 

6,075,433

 

Due from customers on acceptances

 

 

9,163

 

 

 

—

 

 

 

—

 

 

 

9,163

 

Insurance and reinsurance contract liabilities

 

 

3,940,738

 

 

 

8,583,582

 

 

 

—

 

 

 

12,524,320

 

Other accounts payable, provisions and other liabilities

 

 

1,689,640

 

 

 

2,484,247

 

 

 

14,067

 

 

 

4,187,954

 

 

 

32,879,790

 

 

 

50,718,568

 

 

 

528,597

 

 

 

84,126,955

 

Forwards position, net

 

 

(1,842,468

)

 

 

1,564,150

 

 

 

278,318

 

 

 

—

 

Currency swaps position, net

 

 

1,849,472

 

 

 

(1,849,472

)

 

 

—

 

 

 

—

 

Cross currency swaps position, net

 

 

2,071,400

 

 

 

(2,071,400

)

 

 

—

 

 

 

—

 

Options position, net

 

 

(61

)

 

 

61

 

 

 

—

 

 

 

—

 

Monetary position, net

 

 

58,139

 

 

 

6,370,683

 

 

 

126,448

 

 

 

6,555,270

 
Percentage Of Change In Currency Exchange Rate

The table below shows the analysis of variations of the US Dollar, the main foreign currency to which the Group has exposure as of December 31, 2025 and 2024. The analysis determines the effect of a reasonably possible variation of the exchange rate US Dollar to the Sol, considering all the other variables constant in the consolidated statement of other comprehensive income before Income Tax. A negative amount shows a potential net reduction in the consolidated statement of income, while a positive amount reflects a net potential increase:

 

 

Sensitivity analysis

 

Change in
exchange rate

 

2025

 

 

2024

 

 

 

%

 

S/(000)

 

 

S/(000)

 

Devaluation

 

 

 

 

 

 

 

 

US Dollar

 

5

 

 

20,665

 

 

 

21,165

 

US Dollar

 

10

 

 

41,330

 

 

 

42,329

 

US Dollar

 

15

 

 

61,994

 

 

 

63,494

 

 

 

 

 

 

 

 

 

Revaluation

 

 

 

 

 

 

 

 

US Dollar

 

5

 

 

(20,665

)

 

 

(21,165

)

US Dollar

 

10

 

 

(41,330

)

 

 

(42,329

)

US Dollar

 

15

 

 

(61,994

)

 

 

(63,494

)
Disclosure Of Maturity Analysis Of Undiscounted Cash Flows Payables

The following table presents the Group’s undiscounted cash flows payable according to contractual terms agreed (including the payment of future interest):

 

 

 

As of December 31, 2025

 

 

 

Up to
1 month

 

 

From 1 to 3
months

 

 

From 3 to 12
months

 

 

From 1 to 5
years

 

 

Over 5
years

 

 

Total

 

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

 Financial liabilities by type -

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Deposits and obligations

 

 

41,664,775

 

 

 

6,430,086

 

 

 

5,688,525

 

 

 

1,388,051

 

 

 

1,128,206

 

 

 

56,299,643

 

 Inter-bank funds

 

 

55,019

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

55,019

 

 Due to banks and correspondents

 

 

1,092,767

 

 

 

1,166,490

 

 

 

2,177,827

 

 

 

1,082,178

 

 

 

3,629,176

 

 

 

9,148,438

 

 Bonds, notes and other obligations

 

 

41,403

 

 

 

2,937

 

 

 

2,074,773

 

 

 

3,832,413

 

 

 

339,962

 

 

 

6,291,488

 

 Due from customers on acceptances

 

 

17,717

 

 

 

31,889

 

 

 

1,726

 

 

 

—

 

 

 

—

 

 

 

51,332

 

 Insurance and reinsurance contract liabilities

 

 

133,500

 

 

 

258,161

 

 

 

1,153,588

 

 

 

6,277,806

 

 

 

18,083,247

 

 

 

25,906,302

 

 Other accounts payable, provisions and other liabilities

 

 

1,274,168

 

 

 

153,895

 

 

 

340,229

 

 

 

194,085

 

 

 

2,209,708

 

 

 

4,172,085

 

Total non-derivative liabilities

 

 

44,279,349

 

 

 

8,043,458

 

 

 

11,436,668

 

 

 

12,774,533

 

 

 

25,390,299

 

 

 

101,924,307

 

 Derivatives held for trading (*) -

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Contractual amounts receivable (inflow)

 

 

653,321

 

 

 

522,073

 

 

 

925,197

 

 

 

594,077

 

 

 

252,636

 

 

 

2,947,304

 

 Contractual amounts payable (outflow)

 

 

632,958

 

 

 

543,862

 

 

 

849,053

 

 

 

624,174

 

 

 

300,277

 

 

 

2,950,324

 

 Total

 

 

20,363

 

 

 

(21,789

)

 

 

76,144

 

 

 

(30,097

)

 

 

(47,641

)

 

 

(3,020

)

 Derivatives held as hedge (**) -

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Contractual amounts receivable (inflow)

 

 

—

 

 

 

6,606

 

 

 

1,040,782

 

 

 

347,131

 

 

 

—

 

 

 

1,394,519

 

 Contractual amounts payable (outflow)

 

 

—

 

 

 

8,036

 

 

 

1,170,242

 

 

 

384,964

 

 

 

—

 

 

 

1,563,242

 

 Total

 

 

—

 

 

 

(1,430

)

 

 

(129,460

)

 

 

(37,833

)

 

 

—

 

 

 

(168,723

)

 

 

 

As of December 31, 2024

 

 

 

Up to
1 month

 

 

From 1 to 3
months

 

 

From 3 to 12
months

 

 

From 1 to 5
years

 

 

Over 5
years

 

 

Total

 

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

 Financial liabilities by type -

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Deposits and obligations

 

 

39,797,251

 

 

 

5,412,063

 

 

 

6,777,915

 

 

 

925,035

 

 

 

1,256,702

 

 

 

54,168,966

 

 Due to banks and correspondents

 

 

1,949,333

 

 

 

792,039

 

 

 

733,189

 

 

 

2,465,292

 

 

 

3,831,777

 

 

 

9,771,630

 

 Bonds, notes and other obligations

 

 

70,454

 

 

 

2,943

 

 

 

1,652,261

 

 

 

4,665,178

 

 

 

333,061

 

 

 

6,723,897

 

 Due from customers on acceptances

 

 

4,691

 

 

 

4,472

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

9,163

 

 Insurance and reinsurance contract liabilities

 

 

116,089

 

 

 

222,826

 

 

 

1,007,404

 

 

 

4,994,624

 

 

 

18,194,009

 

 

 

24,534,952

 

 Other accounts payable, provisions and other liabilities

 

 

2,301,897

 

 

 

115,868

 

 

 

150,913

 

 

 

134,248

 

 

 

1,382,740

 

 

 

4,085,666

 

Total non-derivative liabilities

 

 

44,239,715

 

 

 

6,550,211

 

 

 

10,321,682

 

 

 

13,184,377

 

 

 

24,998,289

 

 

 

99,294,274

 

 Derivatives held for trading (*) -

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Contractual amounts receivable (inflow)

 

 

1,637,115

 

 

 

880,914

 

 

 

1,123,569

 

 

 

1,134,788

 

 

 

176,817

 

 

 

4,953,203

 

 Contractual amounts payable (outflow)

 

 

1,605,814

 

 

 

1,088,989

 

 

 

962,496

 

 

 

1,145,555

 

 

 

179,999

 

 

 

4,982,853

 

 Total

 

 

31,301

 

 

 

(208,075

)

 

 

161,073

 

 

 

(10,767

)

 

 

(3,182

)

 

 

(29,650

)

 Derivatives held as hedge (**) -

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Contractual amounts receivable (inflow)

 

 

—

 

 

 

86,992

 

 

 

414,593

 

 

 

1,230,550

 

 

 

—

 

 

 

1,732,135

 

 Contractual amounts payable (outflow)

 

 

1,690

 

 

 

78,266

 

 

 

450,019

 

 

 

1,173,525

 

 

 

—

 

 

 

1,703,500

 

 Total

 

 

(1,690

)

 

 

8,726

 

 

 

(35,426

)

 

 

57,025

 

 

 

—

 

 

 

28,635

 

 

(*) It includes contracts whose future flows agreed to be exchanged are settled on a net basis (non-delivery) and a gross basis (full-delivery).

(**) It only includes contracts whose future flows agreed to be exchanged are settled on a net basis (non-delivery).
Disclosure Of Maurity Analysis Of Contingent Credits

The table below shows maturity, by contractual term, of the contingent credits (indirect loans) granted by the Group as of the dates of the consolidated statement of financial position:

 

 

 

2025

 

 

2024

 

 

 

S/(000)

 

 

S/(000)

 

Contingent credits (indirect loans)

 

 

 

 

 

 

Up to 1 month

 

 

1,258,273

 

 

 

649,837

 

From 1 to 3 months

 

 

1,238,443

 

 

 

1,364,278

 

From 3 to 12 months

 

 

2,751,311

 

 

 

2,644,655

 

From 1 to 5 years

 

 

319,669

 

 

 

409,898

 

Over 5 years

 

 

26

 

 

 

26

 

Total

 

 

5,567,722

 

 

 

5,068,694

 
Summary of changes in liabilities arising from financing activities

The following table shows the changes in liabilities arising from financing activities according to IAS 7:

 

 

 

2025

 

 

 

Balance
as of
January 1

 

 

Declared dividends payable

 

 

Dividends received on treasury shares in the Group

 

 

Cash flow

 

 

Effect of variation in exchange rate

 

Others

 

 

Balance
as of
December 31

 

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

S/(000)

 

 

S/(000)

 

 Inter-bank funds

 

 

—

 

 

 

—

 

 

 

—

 

 

 

54,992

 

 

 

8

 

 

19

 

 

 

55,019

 

 Bonds, notes and other obligations

 

 

6,075,433

 

 

 

—

 

 

 

—

 

 

 

123,204

 

 

 

(600,058

)

 

(8,171

)

 

 

5,590,408

 

 Lease liability related to right-of-use assets

 

 

143,803

 

 

 

—

 

 

 

—

 

 

 

(54,105

)

 

 

(605

)

 

55,152

 

 

 

144,245

 

 Dividends payable of IFS

 

 

—

 

 

 

420,096

 

 

 

(13,266

)

 

 

(406,830

)

 

 

—

 

 

—

 

 

 

—

 

 Dividends payable to minority

 

 

958

 

 

 

3,097

 

 

 

—

 

 

 

(3,040

)

 

 

—

 

 

3,019

 

 

 

4,034

 

 Total liabilities for financing activities

 

 

6,220,194

 

 

 

423,193

 

 

 

(13,266

)

 

 

(285,779

)

 

 

(600,655

)

 

50,019

 

 

 

5,793,706

 

 

 

 

 

2024

 

 

 

Balance
as of
January 1

 

 

Dividends payable

 

 

Cash flow

 

 

Effect of variation in exchange rate

 

 

Others

 

Balance
as of
December 31

 

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

S/(000)

 

 Inter-bank funds

 

 

119,712

 

 

 

—

 

 

 

(121,438

)

 

 

1,785

 

 

 

(59

)

 

—

 

 Bonds, notes and other obligations

 

 

5,551,629

 

 

 

—

 

 

 

439,867

 

 

 

67,186

 

 

 

16,751

 

 

6,075,433

 

 Lease liability related to right-of-use assets

 

 

90,513

 

 

 

—

 

 

 

(55,391

)

 

 

102

 

 

 

108,579

 

 

143,803

 

 Dividends payable

 

 

911

 

 

 

430,425

 

 

 

(430,280

)

 

 

—

 

 

 

(98

)

 

958

 

 Total liabilities for financing activities

 

 

5,762,765

 

 

 

430,425

 

 

 

(167,242

)

 

 

69,073

 

 

 

125,173

 

 

6,220,194

 
Summary of financial assets (based on non-discounted contractual cash flows)

The following table summarizes the maturity profile of the Group’s financial assets in function of the non-discounted contractual cash flows, including interest receivable.

 

 

 

2025

 

 

 

Less than 1 year

 

 

From 1 to 2 years

 

 

From 2 to 3 years

 

 

From 3 to 4 years

 

 

From 4 to 5 years

 

 

More than 5 years

 

 

Total

 

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

 Financial assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Cash and cash equivalents

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 Investments at fair value through profit or loss

 

 

88

 

 

 

88

 

 

 

88

 

 

 

88

 

 

 

88

 

 

 

2,444

 

 

 

2,884

 

 Debt instruments at fair value through other comprehensive income

 

 

1,064,804

 

 

 

1,055,793

 

 

 

1,054,406

 

 

 

1,307,692

 

 

 

1,259,962

 

 

 

18,492,436

 

 

 

24,235,093

 

 Investments at amortized cost

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

25,904

 

 

 

—

 

 

 

25,904

 

 Total

 

 

1,064,892

 

 

 

1,055,881

 

 

 

1,054,494

 

 

 

1,307,780

 

 

 

1,285,954

 

 

 

18,494,880

 

 

 

24,263,881

 

 

 

 

2024

 

 

 

Less than 1 year

 

 

From 1 to 2 years

 

 

From 2 to 3 years

 

 

From 3 to 4 years

 

 

From 4 to 5 years

 

 

More than 5 years

 

 

Total

 

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

 Financial assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Cash and cash equivalents

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 Investments at fair value through profit or loss

 

 

98

 

 

 

98

 

 

 

98

 

 

 

98

 

 

 

98

 

 

 

2,834

 

 

 

3,324

 

 Debt instruments at fair value through other comprehensive income

 

 

1,057,660

 

 

 

1,067,828

 

 

 

1,152,885

 

 

 

1,162,798

 

 

 

1,283,365

 

 

 

18,332,782

 

 

 

24,057,318

 

 Investments at amortized cost

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

27,201

 

 

 

—

 

 

 

27,201

 

 Total

 

 

1,057,758

 

 

 

1,067,926

 

 

 

1,152,983

 

 

 

1,162,896

 

 

 

1,310,664

 

 

 

18,335,616

 

 

 

24,087,843

 

 
Summary of financial assets and the insurance contracts assets and liabilities of the Company by main currency

The following table summarizes the financial assets and the insurance contracts assets and liabilities of the Company by main currency:

 

 

 

2025

 

 

2024

 

 

 

US Dollar

 

 

Sol

 

 

Total

 

 

US Dollar

 

 

Sol

 

 

Total

 

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

 Financial assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Cash and cash equivalents

 

 

181,399

 

 

 

301,145

 

 

 

482,544

 

 

 

72,053

 

 

 

131,892

 

 

 

203,945

 

 Investments at fair value through profit or loss

 

 

570,928

 

 

 

3,292

 

 

 

574,220

 

 

 

372,064

 

 

 

4,585

 

 

 

376,649

 

 Debt instruments at fair value through other comprehensive income

 

 

4,391,332

 

 

 

9,560,725

 

 

 

13,952,057

 

 

 

4,205,803

 

 

 

9,062,225

 

 

 

13,268,028

 

 Investments at amortized cost

 

 

—

 

 

 

25,904

 

 

 

25,904

 

 

 

—

 

 

 

24,838

 

 

 

24,838

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Insurance contracts assets -

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Life insurance issued

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 Life reinsurance held

 

 

2,056

 

 

 

15,022

 

 

 

17,078

 

 

 

207

 

 

 

18,395

 

 

 

18,602

 

 Reinsurance held

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Insurance contracts liabilities -

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Life insurance issued

 

 

3,604,846

 

 

 

9,453,926

 

 

 

13,058,772

 

 

 

3,940,738

 

 

 

8,581,614

 

 

 

12,522,352

 

 Life reinsurance held

 

 

4,898

 

 

 

(416

)

 

 

4,482

 

 

 

—

 

 

 

1,968

 

 

 

1,968

 

 Reinsurance held

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 
Summary of group's exposure to insurance and reinsurance contracts sensitive to interest rate risk and debt instruments The Group’s exposure to insurance and reinsurance contracts sensitive to interest rate risk and debt instruments is the following:

 

 

 

2025

 

 

2024

 

 

 

S/(000)

 

 

S/(000)

 

 Insurance contracts assets -

 

 

 

 

 

 

 Life insurance issued

 

 

—

 

 

 

—

 

 Life reinsurance held

 

 

17,078

 

 

 

18,602

 

 Reinsurance held

 

 

—

 

 

 

—

 

 

 

 

 

 

 

 Insurance contracts liabilities -

 

 

 

 

 

 

 Life insurance issued

 

 

13,058,772

 

 

 

12,522,352

 

 Life reinsurance held

 

 

4,482

 

 

 

1,968

 

 Reinsurance held

 

 

—

 

 

 

—

 

 

 

 

 

 

 

 Debt instruments at fair value through profit or loss

 

 

574,220

 

 

 

376,649

 

 Debt instruments at fair value through other comprehensive income

 

 

13,952,057

 

 

 

13,268,028

 

 Debt instruments at amortized cost

 

 

25,904

 

 

 

24,838

 

 Total

 

 

27,632,513

 

 

 

26,212,437

 
Summary of the sensitivity analysis of fair value measurement

The following analysis is made for the reasonably possible movements of the key variables, the rest of the variables remaining constant, showing the impact on income before taxes and equity. The correlation of the variables will have a significant effect on the determination of the final impact of the interest rate risk, but to demonstrate the impact due to changes in variables, the variables had to be changed individually. It is worth noting that the movements of these variables are non-linear. The method used to obtain information about the sensitivity and the significant variables did not vary regarding the previous period.

 

 

 

 

 

2025

 

 

2024

 

 

 

Change in basis points

 

Impact on income before taxes

 

 

Impact on equity

 

 

Impact on income before taxes

 

 

Impact on equity

 

 

 

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

 

S/(000)

 

 Insurance and reinsurance contracts

 

+100

 

 

(7,229

)

 

 

1,206,193

 

 

 

(4,958

)

 

 

1,113,771

 

 Debt instruments

 

+100

 

 

(111

)

 

 

(979,197

)

 

 

(99

)

 

 

(928,453

)

 Insurance and reinsurance contracts

 

-100

 

 

9,094

 

 

 

(1,469,217

)

 

 

6,210

 

 

 

(1,345,914

)

 Debt instruments

 

-100

 

 

128

 

 

 

1,125,978

 

 

 

115

 

 

 

1,068,856