CREDICORP LTD | CIK:0001001290 | 3

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

    7
    LOANS, NET
     
    a)
    This item consists of the following:
     
     
     
    2017
     
    2016
     
     
     
    S/(000)
     
    S/(000)
     
     
     
     
     
     
     
     
     
    Direct loans
     
     
     
     
     
     
     
    Loans
     
     
    77,712,186
     
     
    71,792,562
     
    Leasing receivables
     
     
    7,401,018
     
     
    8,302,898
     
    Credit cards
     
     
    6,880,017
     
     
    7,036,975
     
    Discounted Notes
     
     
    1,999,099
     
     
    1,921,403
     
    Factoring receivables
     
     
    1,722,436
     
     
    1,428,571
     
    Advances and overdrafts in current account
     
     
    113,630
     
     
    151,613
     
    Refinanced loans
     
     
    915,493
     
     
    844,830
     
    Restructured loans
     
     
    121
     
     
    126
     
    Total direct loans
     
     
    96,744,000
     
     
    91,478,978
     
     
     
     
     
     
     
     
     
    Internal overdue loans and under legal collection loans
     
     
    3,020,914
     
     
    2,620,411
     
     
     
     
    99,764,914
     
     
    94,099,389
     
    Add (less) -
     
     
     
     
     
     
     
    Accrued interest
     
     
    779,684
     
     
    784,391
     
    Unearned interest
     
     
    (66,823)
     
     
    (114,879)
     
    Total direct loans
     
     
    100,477,775
     
     
    94,768,901
     
    Allowance for loan losses (d)
     
     
    (4,500,498)
     
     
    (4,207,133)
     
    Total direct loans, net
     
     
    95,977,277
     
     
    90,561,768
     
     
     
     
     
     
     
     
     
    Indirect loans, Note 20(a)
     
     
    19,369,559
     
     
    19,831,985
     
     
    b)
    Direct loans by class are as follows:
     
     
     
    2017
     
    2016
     
     
     
    S/(000)
     
    S/(000)
     
     
     
     
     
     
     
     
     
    Commercial loans
     
     
    58,455,548
     
     
    54,133,871
     
    Residential mortgage loans
     
     
    15,452,087
     
     
    14,495,454
     
    Micro-business loans
     
     
    13,927,557
     
     
    12,951,628
     
    Consumer loans
     
     
    11,929,722
     
     
    12,518,436
     
    Total
     
     
    99,764,914
     
     
    94,099,389
     
       
    c)
    Interest rates on loans are set considering the rates prevailing in the markets where the Group’s subsidiaries operate.
     
    d)
    The movement in the allowance for loan losses (direct and indirect loans) is shown below:
     
     
     
    2017
     
     
     
     
     
    Residential
     
    Micro-business
     
     
     
     
     
     
     
    Commercial loans
     
    mortgage loans
     
    loans
     
    Consumer loans
     
    Total
     
     
     
    S/(000)
     
    S/(000)
     
    S/(000)
     
    S/(000)
     
    S/(000)
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    Balances at the beginning of the period
     
     
    1,235,970
     
     
    193,385
     
     
    1,353,168
     
     
    1,634,169
     
     
    4,416,692
     
    Provision, net of recoveries
     
     
    715,072
     
     
    49,505
     
     
    522,885
     
     
    501,703
     
     
    1,789,165
     
    Recovery of written-off loans
     
     
    22,857
     
     
    1,158
     
     
    54,046
     
     
    190,252
     
     
    268,313
     
    Loan portfolio written-off
     
     
    (217,160)
     
     
    (10,662)
     
     
    (437,594)
     
     
    (760,785)
     
     
    (1,426,201)
     
    Exchange difference and others
     
     
    (76,613)
     
     
    (5,099)
     
     
    (15,927)
     
     
    (7,322)
     
     
    (104,961)
     
    Balances at the end of the period (*)
     
     
    1,680,126
     
     
    228,287
     
     
    1,476,578
     
     
    1,558,017
     
     
    4,943,008
     
     
     
     
    2016
     
     
     
     
     
    Residential
     
    Micro-business
     
     
     
     
     
     
     
    Commercial loans
     
    mortgage loans
     
    Loans
     
    Consumer loans
     
    Total
     
     
     
    S/(000)
     
    S/(000)
     
    S/(000)
     
    S/(000)
     
    S/(000)
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    Balances at the beginning of the period
     
     
    1,197,713
     
     
    173,879
     
     
    1,372,099
     
     
    1,288,528
     
     
    4,032,219
     
    Provision, net of recoveries
     
     
    25,567
     
     
    26,845
     
     
    538,233
     
     
    1,194,850
     
     
    1,785,495
     
    Recovery of written-off loans
     
     
    219,986
     
     
    814
     
     
    50,588
     
     
    6,326
     
     
    277,714
     
    Loan portfolio written-off
     
     
    (143,871)
     
     
    (7,877)
     
     
    (606,546)
     
     
    (853,844)
     
     
    (1,612,138)
     
    Exchange difference and others
     
     
    (63,425)
     
     
    (276)
     
     
    (1,206)
     
     
    (1,691)
     
     
    (66,598)
     
    Balances at the end of the period (*)
     
     
    1,235,970
     
     
    193,385
     
     
    1,353,168
     
     
    1,634,169
     
     
    4,416,692
     
     
     
     
    2015
     
     
     
     
     
    Residential
     
    Micro-business
     
     
     
     
     
     
     
    Commercial loans
     
    mortgage loans
     
    loans
     
    Consumer loans
     
    Total
     
     
     
    S/(000)
     
    S/(000)
     
    S/(000)
     
    S/(000)
     
    S/(000)
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
    Balances at the beginning of the period
     
     
    556,270
     
     
    165,138
     
     
    1,124,072
     
     
    1,256,616
     
     
    3,102,096
     
    Provision, net of recoveries
     
     
    732,834
     
     
    (321)
     
     
    512,052
     
     
    636,333
     
     
    1,880,898
     
    Recovery of written-off loans
     
     
    157,790
     
     
    362
     
     
    7,333
     
     
    5,794
     
     
    171,279
     
    Loan portfolio written-off
     
     
    (341,067)
     
     
    (4,936)
     
     
    (403,993)
     
     
    (721,326)
     
     
    (1,471,322)
     
    Exchange difference and others
     
     
    91,886
     
     
    13,636
     
     
    132,635
     
     
    111,111
     
     
    349,268
     
    Balances at the end of the period (*)
     
     
    1,197,713
     
     
    173,879
     
     
    1,372,099
     
     
    1,288,528
     
     
    4,032,219
     
     
    (*)
    The movement in the allowance for loan losses includes the allowance for direct and indirect loans for approximately S/4,500.5 million and S/442.5 million, respectively, at December 31, 2017 (approximately S/4,207.1 million and S/209.6 million, respectively, at December 31, 2016 and approximately S/3,840.3 million and S/191.9 million, respectively, at December 31, 2015). The allowance for indirect loan losses is included in “Other liabilities” of the consolidated statement of financial position, Note 12(a). In Management’s opinion, the allowance for loan losses recorded as of December 31, 2017, 2016 and 2015 has been established in accordance with IAS 39 and is sufficient to cover incurred losses on the loan portfolio.
     
    e)
    Part of the loan portfolio is collateralized with guarantees received from clients, which mainly consist of mortgages, trust assignments, financial instruments and industrial and mercantile pledges.
     
    f)
    The table below shows the gross direct loan portfolio at December 31, 2017 and 2016 by maturity based on the remaining period to repayment due date:
     
     
     
    2017
     
    2016
     
     
     
    S/(000)
     
    S/(000)
     
    Outstanding loans -
     
     
     
     
     
     
     
    Up to 1 year
     
     
    38,052,430
     
     
    35,455,309
     
    From 1 to 3 years
     
     
    20,167,475
     
     
    19,214,591
     
    From 3 to 5 years
     
     
    12,082,996
     
     
    11,907,513
     
    Over 5 years
     
     
    26,441,099
     
     
    24,901,565
     
     
     
     
    96,744,000
     
     
    91,478,978
     
    Internal overdue loans -
     
     
     
     
     
     
     
    Overdue 90 days
     
     
    639,329
     
     
    539,947
     
    Over 90 days
     
     
    2,381,585
     
     
    2,080,464
     
     
     
     
    3,020,914
     
     
    2,620,411
     
     
     
     
     
     
     
     
     
     
     
     
    99,764,914
     
     
    94,099,389
     
     
    See credit risk analysis in Note 32.1.