XML 74 R56.htm IDEA: XBRL DOCUMENT
v3.8.0.1

BONDS AND NOTES ISSUED (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2017
Disclosure of bonds and notes issued [Abstract] |
Disclosure Of detailed information Of bonds and notes issued [Text Block] | This item consists of the following:
|  | Annual interest rate |  | Interest payment |  | Maturity |  | Issued amount |  | 2017 |  | 2016 |
|  | % |  |  |  |  |  | (000) |  | S/(000) |  | S/(000) |
Senior notes - (i) |  | 5.38 |  | Semi-annual |  | September 2020 |  |  | US$800,000 |  |  | 2,612,379 |  |  | 2,755,382 |
Senior notes - (i)(x) |  | Between 2.75 and 4.25 |  | Semi-annual |  | Between January 2018 and April 2023 |  |  | US$596,455 |  |  | 1,948,082 |  |  | 2,082,913 |
Senior notes - (ii) |  | 4.25 |  | Semi-annual |  | April 2023 |  |  | US$350,000 |  |  | 1,066,904 |  |  | 1,086,997 |
Senior notes - (xi) |  | 2.25 |  | Semi-annual |  | October 2019 |  |  | US$300,000 |  |  | 954,131 |  |  | 1,005,955 |
Senior notes |  | 4.85 |  | Semi-annual |  | October 2020 |  |  | S/2,000,000 |  |  | 1,958,571 |  |  | – |
CCR Inc. MMT 100 - Secured Notes - (iii) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2010 Series C Floating rate certificates |  | Libor 1M + 44.5 bp |  | Monthly |  | July 2017 |  |  | US$350,000 |  |  | – |  |  | 179,230 |
2012 Series A and B Floating rate certificates |  | Libor 1M + 22.5 bp |  | Monthly |  | July 2017 |  |  | US$150,000 |  |  | – |  |  | 97,884 |
2012 Series C Floating rate certificates |  | 4.75 |  | Monthly |  | July 2022 |  |  | US$315,000 |  |  | 670,132 |  |  | 843,195 |
|  |  |  |  |  |  |  |  |  |  |  | 670,132 |  |  | 1,120,309 |
Corporate bonds - |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Second program |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Third issuance (Series A and B) – BCP |  | Between 7.47 and 8.50 |  | Quarterly |  | Between June and July 2018 |  |  | S/200,000 |  |  | 194,883 |  |  | 200,000 |
Third program |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
First issuance (Series A and B) - Mibanco |  | Between 5.38 and 5.41 |  | Semi-annual |  | Between May and July 2017 |  |  | S/98,800 |  |  | – |  |  | 20,766 |
Fourth issuance (Series A) - Mibanco |  | 4.78 |  | Semi-annual |  | December 2017 |  |  | S/100,000 |  |  | – |  |  | 91,505 |
Fifth issuance (Series A and B) - Mibanco |  | Between 6.59 and 6.97 |  | Semi-annual |  | Between January and March 2017 |  |  | S/84,660 |  |  | – |  |  | 78,815 |
Fourth program |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Tenth issuance (Series A, B and C) - BCP |  | Between 5.31 and 7.25 |  | Semi-annual |  | Between December 2021 and November 2022 |  |  | S/550,000 |  |  | 530,034 |  |  | 549,400 |
First issuance (Series A) - Mibanco |  | 6.56 |  | Semi-annual |  | July 2018 |  |  | S/100,000 |  |  | 86,513 |  |  | 86,950 |
First issuance (Series B) - Mibanco |  | 7.16 |  | Semi-annual |  | June 2019 |  |  | S/100,000 |  |  | 89,087 |  |  | 85,000 |
Fifth program |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
First issuance (Series A) - BCP |  | 6.41 |  | Semi-annual |  | April 2019 |  |  | S/172,870 |  |  | 162,096 |  |  | 172,391 |
First issuance (Series B) - BCP |  | 5.59 |  | Semi-annual |  | June 2019 |  |  | S/150,000 |  |  | 136,311 |  |  | 150,000 |
First issuance (Series C) - BCP |  | 5.625 |  | Semi-annual |  | November 2019 |  |  | S/138,410 |  |  | 123,761 |  |  | 138,075 |
First issuance (Series D) - BCP |  | 5.91 |  | Semi-annual |  | January 2020 |  |  | S/182,410 |  |  | 167,500 |  |  | – |
Sixth program |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Third issuance (Series A) - Mibanco |  | 5.16 |  | Semi-annual |  | May 2017 |  |  | S/50,000 |  |  | – |  |  | 46,165 |
|  |  |  |  |  |  |  |  |  |  |  | 1,490,185 |  |  | 1,619,067 |
|  | Annual interest rate |  | Interest payment |  | Maturity |  | Issued amount |  | 2017 |  | 2016 |
|  | % |  |  |  |  |  |  |  |  | S/(000) |  | S/(000) |
Subordinated bonds - BCP (iv) |  | 6.13 |  | Semi-annual |  | April 2027 |  |  | US$720,000 |  |  | 2,333,152 |  |  | 2,423,720 |
Subordinated bonds - BCP (v) |  | 6.88 |  | Semi-annual |  | September 2026 |  |  | US$350,000 |  |  | 1,135,050 |  |  | 1,194,773 |
Junior subordinated bonds - BCP (vi) |  | 9.75 |  | Semi-annual |  | November 2069 |  |  | US$250,000 |  |  | 813,695 |  |  | 851,423 |
Subordinated bonds - |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
First program |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
First issuance (Series A) - BCP |  | 6.22 |  | Semi-annual |  | May 2027 |  |  | S/15,000 |  |  | 15,000 |  |  | 15,000 |
First issuance (Series A) - Pacífico Seguros |  | 6.97 |  | Quarterly |  | November 2026 |  |  | US$60,000 |  |  | 193,900 |  |  | 200,655 |
Second program |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
First issuance (Series A) - Mibanco |  | 8.50 |  | Semi-annual |  | May 2026 |  |  | S/100,000 |  |  | 100,000 |  |  | 100,000 |
First issuance (Series B) - Mibanco |  | 7.22 |  | Semi-annual |  | June 2027 |  |  | S/30,000 |  |  | 29,953 |  |  | – |
Third program |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
First, second and fourth issuance (Series A) - Mibanco |  | Between 6.19 and 8.16 |  | Semi-annual |  | Between October 2021 and December 2022 |  |  | S/110,000 |  |  | 39,978 |  |  | 109,980 |
Fifth issuance (Series A and B) - Mibanco |  | 7.75 |  | Semi-annual |  | July 2024 |  |  | S/88,009 |  |  | 87,869 |  |  | 88,009 |
Issuance I - Banco de Crédito de Bolivia |  | 6.25 |  | Semi-annual |  | August 2028 |  |  | Bs70,000 |  |  | 33,072 |  |  | 34,196 |
Issuance II - Banco de Crédito de Bolivia |  | 5.25 |  | Semi-annual |  | August 2022 |  |  | Bs137,200 |  |  | 65,677 |  |  | 68,180 |
|  |  |  |  |  |  |  |  |  |  |  | 565,449 |  |  | 616,020 |
Negotiable certificate of deposit - BCP (vii) |  | 7.17 |  | Semi-annual |  | October 2022 |  |  | S/483,280 |  |  | – |  |  | 478,837 |
Negotiable certificate of deposit - Mibanco |  | Between 1.8 and 5.9 |  | Annual |  | Between January 2017 and December 2019 |  |  | S/2,998 |  |  | 1,461 |  |  | 2,998 |
Subordinated negotiable certificates - BCP (viii) |  | 6.88 |  | Semi-annual |  | September 2026 |  |  | US$126,120 |  |  | 390,450 |  |  | 402,139 |
Subordinated negotiable certificates - BCP (viii) |  | Libor 3M+ 279 bp |  | Semi-annual |  | November 2021 |  |  | US$2,960 |  |  | 9,593 |  |  | 9,934 |
Leasing bonds |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
First program (ix) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sixth issuance (Series A) – BCP |  | 8.72 |  | Quarterly |  | August 2018 |  |  | S/100,000 |  |  | 100,000 |  |  | 100,000 |
|  |  |  |  |  |  |  |  |  |  |  | 16,049,234 |  |  | 15,750,467 |
Interest payable |  |  |  |  |  |  |  |  |  |  |  | 193,023 |  |  | 189,136 |
Total |  |  |  |  |  |  |  |  |  |  |  | 16,242,257 |  |  | 15,939,603 |
At December 31, 2017 the Group holds IRS for a nominal amount totaling US$2,442.4 million, equivalent to S/7,915.9 million (US$2,442.4 million, equivalent to S/8,196.8 million at December 31, 2016), See Note 12(b), which were designated as fair value hedges of certain corporate bonds, subordinated bonds and Notes denominated in U.S. Dollars at fixed rate; through said IRS, these bonds and Notes were economically converted to variable interest rate.
| (i) | The Group can redeem these notes in whole or in a part at any time, with the penalty of the payment of an interest rate equivalent to that of the American Treasury plus 40 basis points. Payment of principal will take place at the date of maturity or redemption of the notes.
| (ii) | The Group can redeem these notes in whole or in part at any time, with the penalty of the payment of an interest rate equivalent to that of the American Treasury plus 50 basis points. Payment of principal will take place at the date of maturity or redemption.
| (iii) | All issuances are secured by the collection of BCP’s (including its foreign branches) future inflows from electronic messages sent through the Society for Worldwide Interbank Financial Telecommunications (“SWIFT”) network and utilized within the network to instruct correspondent banks to make a payment of a certain amount to a beneficiary that is not a financial institution.
At December 31, 2016, cash flows of issuances in 2010 with series “C”, which are subject to variable interest rates, have been hedged using an IRS designated as cash flows hedges for a nominal amount of S/179.2 million, See Note 12(b); through the IRS, said issuance was converted to a fixed interest rate. The issue matured in July 2017.
| (iv) | From 2022, the Bank will pay a floating interest rate of three month Libor plus 704.3 basis points. Between April 24, 2017 and April 24, 2022, the Bank may redeem all or part of the subordinated bonds with the penalty of the payment of an interest rate equivalent to that of the American Treasury plus 50 basis points. Additionally, from April 25, 2022 or at any later date of coupon payment, the Bank will be able to redeem all or part of the bonds without penalty. Payment of principal will take place at the date of maturity of bonds or upon redemption.
In January 2014, the Bank, through its Panama Branch increased the issue of its subordinated bonds by an amount of US$200.0 million in the international market, as occurred in April 2013, when it carried out a first increase for an amount of US$170.0 million, with the same characteristics of the issue made in April 2012 for US$350.0 million.
| (v) | From September 16, 2021, the interest rate becomes a floating rate of three month Libor plus 770.8 basis points. Between September 16, 2016 and September 15, 2021, the Group may redeem all or part of the bonds, with the penalty of the payment of an interest equivalent to the American Treasury plus 50 basis points. Additionally, from September 16, 2021 or at any later date of coupon payment, the Group can redeem all or part of the bonds without penalty. Payment of principal will take place at the date of maturity of bonds or upon redemption.
| (vi) | In November 2019, interest rate will become a variable rate of three month Libor plus 816.7 basis points. On that date and on any interest payment date the Bank can redeem 100 percent of the bonds without penalty. Payment of principal will take place at the date of maturity or upon redemption.
This issuance, as authorized by the SBS, qualifies as “Tier 1” equity in the determination of the regulatory capital (“patrimonio efectivo”) and has no related guarantees.
| (vii) | In October 2017, the interest rate became a variable rate, fixed as the average of at least three valuations of the internal rate of return for sovereign bonds issued by the Peruvian Government (with maturity in 2037), plus 150 basis points, with semiannual payments. The Group, using the powers conferred to it, on October 15, 2017, redeemed 100 percent of the negotiable certificates of deposit, without penalties.
| (viii) | Until October 2016, said certificates bore interest at the fixed rate of 6.88 percent per annum. From November 2016, the interest rate will change to a floating interest rate, established as three month Libor plus 2.79 percent, with semiannual payments. Furthermore, from said date, the Group can redeem 100 percent of the debt, without penalties. Payment of principal will take place at the date of maturity of bonds or upon redemption.
| (ix) | Leasing bonds are collateralized by the fixed assets financed by the Group.
| (x) | In June 2014, the Group offered an exchange to the holders of senior notes, by which the notes were partially replaced with new notes, at market rate, with the same characteristics of the senior notes indicated in (i) above.
| (xi) | The Group may redeem all or part of the notes at any time, subject to a penalty of a rate of interest equal to that of the U.S. Treasury plus 20 base points. The payment of principal will take place on the maturity date of the notes or when the Group redeems them.
At December 31, 2017, the cash flows of the bond issued in U.S. dollars, subject to exchange rate risk have been hedged by means of three CCS designated as a cash flow hedge for a nominal amount of US$300.0 million, equivalent to S/972.3 million, (US$300.0 million, equivalent to S/1,006.8 million at December 31, 2016), See Note 12(b). By means of the CCS, the bond was economically converted to soles.
Disclosure of detailed information of balances of bonds and notes issued by their maturity [Text Block] | The table below shows the bonds and notes issued, classified by maturity:
|  | 2017 |  | 2016 |
|  | S/(000) |  | S/(000) |
Up to 3 months |  |  | 36,687 |  |  | 251,751 |
From 3 months to 1 year |  |  | 1,236,046 |  |  | 407,200 |
From 1 to 3 years |  |  | 6,508,352 |  |  | 3,009,004 |
From 3 to 5 years |  |  | 760,102 |  |  | 3,271,925 |
More than 5 years |  |  | 7,508,047 |  |  | 8,810,587 |
Total |  |  | 16,049,234 |  |  | 15,750,467 |

X
- References No definition available. + Details
Name: | bap_DisclosureOfBondsAndNotesIssuedAbstract
Namespace Prefix: | bap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The detailed information of balances of bonds and notes issued by maturity. + References No definition available. + Details
Name: | bap_DisclosureOfDetailedInformationOfBalancesOfBondsAndNotesIssuedByTheirMaturityTextBlock
Namespace Prefix: | bap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The disclosure of detailed information of bonds and notes issued. + References No definition available. + Details
Name: | bap_DisclosureOfDetailedInformationOfBondsAndNotesIssuedTextBlock
Namespace Prefix: | bap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration