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OPERATING SEGMENTS | 12 Months Ended
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Dec. 31, 2017
Disclosure of operating segments [abstract] |
Disclosure of operating segments [text block] |
29 | OPERATING SEGMENTS
For management purposes, the Group is organized into four reportable segments based on products and services as follows: Banking - Principally handling loans, credit facilities, deposits and current accounts. Insurance - Principally comprising the issue of insurance policies to cover losses in commercial property, transportation, marine vessels, automobile, life, health and pension funds. Pension funds - Providing services of private pension fund management to affiliated pensioners. Investment banking - Provide investment brokerage and management to a broad and diverse clientele, including corporations, institutional investors, governments and foundations. Also the structuring, and placement of issues in the primary market, as well as the execution and negotiation of operations in the secondary market. Additionally, it structures securitization processes for companies and manages mutual funds. The Group monitors the operating results of its business units separately for the purpose of making decisions about resource allocation and performance assessment. Segment performance is evaluated based on operating profit or loss and is measured consistently with operating profit or loss in the consolidated financial statements. Transfer prices used between operating segments are on an arm’s length basis in a manner similar to transactions with third parties. No revenue from transactions with a single external customer or counterparty amounted to 10 percent or more of the Group’s total revenue in the years 2017, 2016 and 2015.
| (i) | The table below shows (in millions of soles) a breakdown of the Group’s total income, operating income and non-current assets; classified by location of customers and assets, respectively for the years ended December 31, 2017, 2016 and 2015:
2017 |  | Total income (*) |  | Operating income (**) |  | Allowance for loan losses, net of recoveries |  | Depreciation and amortization |  | Impairment of available for sale assets |  | Income before income tax |  | Income tax |  | Net profit |  | Capital expenditures intangibles and goodwill |  | Total assets |  | Total liabilities |
Banking |  |  | 14,071 |  |  | 8,154 |  |  | (1,789) |  |  | (326) |  |  | (8) |  |  | 4,886 |  |  | (1,266) |  |  | 3,620 |  |  | 339 |  |  | 145,999 |  |  | 128,324 |
Insurance |  |  | 2,474 |  |  | 619 |  |  | – |  |  | (49) |  |  | – |  |  | 353 |  |  | (28) |  |  | 325 |  |  | 59 |  |  | 10,988 |  |  | 8,409 |
Pension funds |  |  | 392 |  |  | 1 |  |  | – |  |  | (23) |  |  | – |  |  | 206 |  |  | (66) |  |  | 140 |  |  | 10 |  |  | 798 |  |  | 243 |
Investment banking |  |  | 791 |  |  | (12) |  |  | – |  |  | (22) |  |  | 7 |  |  | 130 |  |  | (33) |  |  | 97 |  |  | 8 |  |  | 12,687 |  |  | 11,243 |
Total consolidated |  |  | 17,728 |  |  | 8,762 |  |  | (1,789) |  |  | (420) |  |  | (1) |  |  | 5,575 |  |  | (1,393) |  |  | 4,182 |  |  | 416 |  |  | 170,472 |  |  | 148,219 |
2016 |  | Total income (*) |  | Operating income (**) |  | Allowance for loan losses, net of recoveries |  | Depreciation and amortization |  | Impairment of available for sale assets |  | Income before income tax |  | Income tax |  | Net profit |  | Capital expenditures intangibles and goodwill |  | Total assets |  | Total liabilities |
Banking |  |  | 13,059 |  |  | 7,890 |  |  | (1,785) |  |  | (319) |  |  | (16) |  |  | 4,175 |  |  | (1,127) |  |  | 3,048 |  |  | 326 |  |  | 142,775 |  |  | 125,998 |
Insurance |  |  | 2,577 |  |  | 666 |  |  | – |  |  | (45) |  |  | 1 |  |  | 355 |  |  | (51) |  |  | 304 |  |  | 44 |  |  | 9,789 |  |  | 7,646 |
Pension funds |  |  | 411 |  |  | 1 |  |  | – |  |  | (21) |  |  | – |  |  | 225 |  |  | (70) |  |  | 155 |  |  | 8 |  |  | 757 |  |  | 245 |
Investment banking |  |  | 712 |  |  | 2 |  |  | – |  |  | (22) |  |  | 1 |  |  | 136 |  |  | (33) |  |  | 103 |  |  | 9 |  |  | 3,114 |  |  | 2,430 |
Total consolidated |  |  | 16,759 |  |  | 8,559 |  |  | (1,785) |  |  | (407) |  |  | (14) |  |  | 4,891 |  |  | (1,281) |  |  | 3,610 |  |  | 387 |  |  | 156,435 |  |  | 136,319 |
2015 |  | Total income (*) |  | Operating income (**) |  | Allowance for loan losses, net of recoveries |  | Depreciation and amortization |  | Impairment of available for sale assets |  | Income before income tax |  | Income tax |  | Net profit |  | Capital expenditures intangibles and goodwill |  | Total assets |  | Total liabilities |
Banking |  |  | 12,395 |  |  | 7,328 |  |  | (1,881) |  |  | (232) |  |  | (57) |  |  | 3,692 |  |  | (1,032) |  |  | 2,659 |  |  | 272 |  |  | 142,963 |  |  | 129,189 |
Insurance |  |  | 2,439 |  |  | 630 |  |  | – |  |  | (42) |  |  | 13 |  |  | 424 |  |  | (74) |  |  | 350 |  |  | 144 |  |  | 9,059 |  |  | 7,270 |
Pension funds |  |  | 403 |  |  | (1) |  |  | – |  |  | (19) |  |  | – |  |  | 228 |  |  | (66) |  |  | 162 |  |  | 2 |  |  | 766 |  |  | 247 |
Investment banking |  |  | 528 |  |  | 2 |  |  | – |  |  | (103) |  |  | – |  |  | 17 |  |  | (25) |  |  | (8) |  |  | 7 |  |  | 2,692 |  |  | 2,047 |
Total consolidated |  |  | 15,765 |  |  | 7,959 |  |  | (1,881) |  |  | (396) |  |  | (44) |  |  | 4,361 |  |  | (1,197) |  |  | 3,163 |  |  | 425 |  |  | 155,480 |  |  | 138,753 |
| (ii) | The following table presents (in millions of soles) the distribution of the external revenue, operating revenue and non-current assets of the Group; all assigned based on the location of the clients and assets, respectively, at December 31, 2017, 2016 and 2015:
|  | At December 31, 2017 |  | At December 31, 2016 |  | At December 31, 2015 |
|  | Total income (*) |  | Operating income (**) |  | Total non current assets (***) |  | Total liabilities |  | Total income (*) |  | Operating income (**) |  | Total non current assets (***) |  | Total liabilities |  | Total income (*) |  | Operating income (**) |  | Total non current assets (***) |  | Total liabilities |
Perú |  |  | 11,668 |  |  | 8,199 |  |  | 2,976 |  |  | 130,953 |  |  | 11,388 |  |  | 8,051 |  |  | 2,994 |  |  | 119,813 |  |  | 10,907 |  |  | 7,533 |  |  | 3,070 |  |  | 121,870 |
Panama |  |  | 4,274 |  |  | 37 |  |  | 121 |  |  | 933 |  |  | 3,791 |  |  | 27 |  |  | 124 |  |  | 1,254 |  |  | 3,491 |  |  | 23 |  |  | 104 |  |  | 2,233 |
Cayman Islands |  |  | 512 |  |  | 183 |  |  | 5 |  |  | 5,250 |  |  | 466 |  |  | 147 |  |  | 5 |  |  | 5,695 |  |  | 490 |  |  | 129 |  |  | 5 |  |  | 5,940 |
Bolivia |  |  | 813 |  |  | 338 |  |  | 102 |  |  | 8,490 |  |  | 682 |  |  | 321 |  |  | 79 |  |  | 7,246 |  |  | 507 |  |  | 267 |  |  | 79 |  |  | 6,672 |
Colombia |  |  | 286 |  |  | 10 |  |  | 145 |  |  | 1,573 |  |  | 264 |  |  | 17 |  |  | 172 |  |  | 1,396 |  |  | 233 |  |  | 12 |  |  | 172 |  |  | 1,500 |
United States of America |  |  | 8 |  |  | – |  |  | – |  |  | 2 |  |  | 8 |  |  | – |  |  | – |  |  | 2 |  |  | 5 |  |  | – |  |  | – |  |  | 3 |
Chile |  |  | 167 |  |  | (5) |  |  | 139 |  |  | 1,018 |  |  | 160 |  |  | (4) |  |  | 138 |  |  | 913 |  |  | 132 |  |  | (5) |  |  | 142 |  |  | 535 |
Total Consolidated total |  |  | 17,728 |  |  | 8,762 |  |  | 3,488 |  |  | 148,219 |  |  | 16,759 |  |  | 8,559 |  |  | 3,512 |  |  | 136,319 |  |  | 15,765 |  |  | 7,959 |  |  | 3,572 |  |  | 138,753 |
| (*) | Including total interest and similar income, other income and net premiums earned from insurance activities.
| (**) | Operating income includes the net interest income from banking activities and the amount of the net premiums earned, less insurance claims.
| (***) | Non-current assets consist of property, furniture and equipment, intangible assets, and goodwill, net.

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