CREDICORP LTD | CIK:0001001290 | 3

  • Filed: 4/26/2018
  • Entity registrant name: CREDICORP LTD (CIK: 0001001290)
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    • ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory

    10
    PROPERTY, FURNITURE AND EQUIPMENT, NET
     
    a)
    The movement of property, furniture and equipment and accumulated depreciation, for the years ended December 31, 2017, 2016, and 2015 was as follows:
     
     
     
     
     
    Buildings and
     
     
     
    Furniture
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    other
     
     
     
    and
     
    Computer
     
    Vehicles and
     
    Work in
     
     
     
     
     
     
     
     
     
     
     
     
    Land
     
    constructions
     
    Installations
     
    fixtures
     
    hardware
     
    equipment
     
    progress
     
    2017
     
    2016
     
    2015
     
     
     
    S/(000)
     
    S/(000)
     
    S/(000)
     
    S/(000)
     
    S/(000)
     
    S/(000)
     
    S/(000)
     
    S/(000)
     
    S/(000)
     
    S/(000)
     
    Cost -
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    Balance as of January 1
     
     
    402,064
     
     
    1,115,536
     
     
    580,847
     
     
    496,357
     
     
    558,902
     
     
    167,031
     
     
    88,632
     
     
    3,409,369
     
     
    3,455,442
     
     
    3,447,017
     
    Additions
     
     
    7,374
     
     
    6,952
     
     
    9,391
     
     
    19,748
     
     
    50,457
     
     
    8,253
     
     
    41,676
     
     
    143,851
     
     
    110,151
     
     
    148,426
     
    Transfers
     
     
    56
     
     
    4,685
     
     
    37,758
     
     
    3,368
     
     
    13,839
     
     
    (9,379)
     
     
    (50,327)
     
     
    –
     
     
    –
     
     
    –
     
    Disposals and others
     
     
    12,145
     
     
    12,743
     
     
    (36,547)
     
     
    (5,937)
     
     
    (8,139)
     
     
    (7,297)
     
     
    (15,962)
     
     
    (48,994)
     
     
    (156,224)
     
     
    (140,001)
     
    Balance as of December 31
     
     
    421,639
     
     
    1,139,916
     
     
    591,449
     
     
    513,536
     
     
    615,059
     
     
    158,608
     
     
    64,019
     
     
    3,504,226
     
     
    3,409,369
     
     
    3,455,442
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    Accumulated depreciation -
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    Balance as of January 1
     
     
    –
     
     
    577,458
     
     
    397,485
     
     
    311,356
     
     
    465,600
     
     
    105,767
     
     
    –
     
     
    1,857,666
     
     
    1,784,001
     
     
    1,671,575
     
    Depreciation for the year
     
     
    –
     
     
    31,123
     
     
    45,624
     
     
    33,443
     
     
    53,993
     
     
    14,712
     
     
    –
     
     
    178,895
     
     
    182,845
     
     
    177,623
     
    Disposals and others
     
     
    –
     
     
    7,144
     
     
    (18,110)
     
     
    (8,704)
     
     
    (9,886)
     
     
    (12,271)
     
     
    –
     
     
    (41,827)
     
     
    (109,180)
     
     
    (65,197)
     
    Balance as of December 31
     
     
    –
     
     
    615,725
     
     
    424,999
     
     
    336,095
     
     
    509,707
     
     
    108,208
     
     
    –
     
     
    1,994,734
     
     
    1,857,666
     
     
    1,784,001
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    Net carrying amount
     
     
    421,639
     
     
    524,191
     
     
    166,450
     
     
    177,441
     
     
    105,352
     
     
    50,400
     
     
    64,019
     
     
    1,509,492
     
     
    1,551,703
     
     
    1,671,441
     
     
    Banks, financial institutions and insurance entities operating in Peru are not allowed to pledge their fixed assets.
     
    During 2017 and 2016 Credicorp and its Subsidiaries, as part of its annual infrastructure investing, has made cash disbursements related mainly to the acquisition, construction and implementation of new agencies for its banking segment, and the refurbishment and conditioning of several agencies and administrative offices. Credicorp’s subsidiaries hold insurance contracts over its main assets in accordance with the policies established by Management.
     
    Management periodically reviews the residual value, useful life and method of depreciation of the Group’s property, furniture and equipment to ensure that they are consistent with their actual economic benefits and life expectations. In Management’s opinion, as of December 31, 2017 and 2016 there is no evidence of impairment of the Group’s property, furniture and equipment.