SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2018

Disclosure of detailed information about financial instruments [text block]

The following table presents the measurement categories and the carrying value of the financial instruments under IAS 39 and IFRS 9 as of January 1, 2018:

IAS 39

IFRS 9

Financial assets

Category

Carrying

amount

S/(000)

Cash and due from banks

Loans and receivables

23,221,987

Amortized cost

23,221,987

Cash collateral, reverse repurchase agreements and securities borrowings

Loans and receivables

7,480,420

Amortized cost

7,480,420

Investments

At fair value through profit or loss

4,024,737

At fair value through profit or loss

5,613,356

Available-for-sale

24,423,891

At fair value through other comprehensive income (Debt instruments)

22,181,733

At fair value through other comprehensive income (Designated equity instruments)

653,539

Held-to-maturity

4,413,373

Amortized cost

4,411,637

Loans, net

Loans and receivables

95,977,277

Amortized cost

95,770,509

Financial assets designated at fair value through profit or loss

At fair value through profit or loss (Designated upon initial recognition)

537,685

At fair value through profit or loss (Designated upon initial recognition)

537,685

Premiums and other policies receivable

Loans and receivables

656,829

Amortized cost

649,135

Accounts receivable from reinsurers and coinsurers

Loans and receivables

715,695

Amortized cost

715,553

Due from customers on acceptances

Loans and receivables

532,034

Amortized cost

532,034

Derivatives receivable

At fair value for trading or for hedging purposes

701,826

At fair value for trading or for hedging purposes

701,826

Other assets

Loans and receivables

1,759,125

Amortized cost

1,759,125

Total financial assets

164,444,879

164,228,539

Financial liabilities

Liabilities

Amortized cost

130,842,331

Amortized cost

130,956,515

Liabilities

At fair value

8,791,390

At fair value

8,791,390

Total financial liabilities

139,633,721

139,747,905

Disclosure of financial liabilities at date of initial application of IFRS 9 [text block]

The following table presents the detail of the reconciliation of balances of financial assets under IAS 39 to IFRS 9, distinguishing between the impacts due to category change and impairment remeasurement:

Financial assets	IAS 39		Change of category			Impairment remeasurement			IFRS 9
	S/(000)		S/(000)			S/(000)			S/(000)

Cash and due from banks		23,221,987		–			–			23,221,987

Cash collateral, reverse repurchase agreements and securities borrowings		7,480,420		–			–			7,480,420

Investments:
At fair value through profit or loss :
Opening balance under IAS 39		4,024,737
Addition: From investments available for sale (*)				1,588,619
Closing balance under IFRS 9										5,613,356

At fair value through other comprehensive income (debt):
Opening balance under IAS 39		–
Addition: From investments available for sale				22,181,733
Closing balance under IFRS 9										22,181,733

At fair value through other comprehensive income (Designated equity instruments)		–		653,539			–			653,539

Available for sale:
Opening balance under IAS 39		24,423,891
Subtraction: Reclassification to investments at fair value through profit or loss (*)				(1,588,619	)
Subtraction: Reclassification to investments at fair value through other comprehensive income (debt)				(22,181,733	)
Subtraction: Reclassification to investments at fair value through other comprehensive income (Designated - equity)				(653,539	)
Closing balance under IFRS 9										–

Amortized cost:
Opening balance under IAS 39		–
Addition: From investments held-to-maturity (IAS 39)				4,413,373
Remeasurement: Expected loss (IFRS 9)							(1,736	)
Closing balance under IFRS 9										4,411,637

Held-to-maturity:
Opening balance under IAS 39		4,413,373
Subtraction: Reclassification to investments at amortized cost				(4,413,373	)
Closing balance under IFRS 9										–

Loans, net		95,977,277		–			(206,768	)		95,770,509

Financial assets designated at fair value through profit or loss		537,685		–			–			537,685

Premiums and other policies receivable		656,829		–			(7,694	)		649,135

Accounts receivable from reinsurers and coinsurers		715,695		–			(142	)		715,553

Due from customers on acceptances		532,034		–			–			532,034

Derivative receivables		701,826		–			–			701,826

Other assets		1,759,125		–			–			1,759,125
Total		164,444,879		–			(216,340	)		164,228,539

Reconciliation of provision for impairment [Text Block]

Reconciliation of the balances of the provision for impairment under IAS 39 and IFRS 9 as of January 1, 2018:

	IAS 39		Impairment remeasurement		IFRS 9
	S/(000)		S/(000)		S/(000)
Financial asset:
Investment at amortized cost		–		1,736		1,736
Loans		4,500,498		206,768		4,707,266
Premiums and other policies receivable		12,255		7,694		19,949
Accounts receivable from reinsurers and coinsurers		8,715		142		8,857
Total financial assets		4,521,468		216,340		4,737,808

Financial liabilities:
Provision for credit losses on indirect loans		442,510		114,184		556,694
Total financial liabilities		442,510		114,184		556,694

Disclosure of detailed information about basis of consolidation [text Block]

At December 31, 2018 and 2017, the following entities comprise the Group (the individual or consolidated figures of their financial statements are presented in accordance with IFRS and before eliminations for consolidation purposes, except for the elimination of Credicorp’s treasury shares and its related dividends):

Entity	Activity and country of incorporation	Percentage of interest (direct and indirect)				Assets				Liabilities				Equity						Net income (loss)
		2018		2017		2018		2017		2018		2017		2018			2017			2018		2017
		%		%		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)			S/(000)			S/(000)		S/(000)

Banco de Crédito del Perú and Subsidiaries (i)	Banking, Peru		97.71		97.69		144,768,951		139,658,667		127,683,654		124,107,841		17,085,297			15,550,826			3,391,015		3,036,929
Pacífico Compañía de Seguros y Reaseguros S.A. and Subsidiaries (ii), Note 2(c)	Insurance, Peru		98.79		98.79		12,222,763		11,402,998		9,590,768		8,558,149		2,631,995			2,844,849			353,292		325,008
Credicorp Capital Ltd. and Subsidiaries (iii)	Capital markets, Bermuda		100.00		100.00		3,393,325		3,731,930		2,695,499		2,943,210		697,826			788,720			35,191		77,963
Inversiones Credicorp Bolivia S.A. and Subsidiaries (iv)	Banking, Bolivia		99.96		99.96		10,020,148		9,153,381		9,239,568		8,458,813		780,580			694,568			99,402		96,826
Atlantic Security Holding Corporation and Subsidiaries (v)	Capital Markets, Cayman islands		100.00		100.00		6,607,494		7,034,717		5,395,262		6,206,861		1,212,232			827,856			351,425		187,132
CCR Inc. (vi)	Special purpose Entity, Bahamas		100.00		100.00		543,113		667,170		543,896		670,132		(783	)		(2,962	)		2,179		14,018
Prima AFP S.A. (vii)	Private pension fund administrator, Peru		100.00		100.00		874,649		882,917		241,307		263,717		633,342			619,200			139,586		140,082
Grupo Crédito S.A (viii)	Holding, Peru		100.00		100.00		424,738		208,049		41,648		241,237		383,090			(33,188	)		15,603		(31,089	)

(i)

BCP was established in 1889 and its activities are regulated by the SBS.

Its main Subsidiary is Mibanco, Banco de la Microempresa S.A. (hereinafter “Mibanco”), a banking entity in Peru oriented towards the micro and small business sector. At December 31, 2018, the assets, liabilities, equity and net income of Mibanco amount to approximately S/

13,220.3

million, S/

11,321.8

million, S/

1,898.5

million and S/

462.1

million, respectively (S//

12,363.0

million, S/

10,666.5

million, S/

1,696.5

million, and S/

399.1

million, respectively at December 31, 2017).

(ii)

Pacífico Seguros is an entity regulated by the SBS and its activities comprise the contracting and management of all types of general risk and life insurance, reinsurance and property investment and financial operations. Its Subsidiaries are Crediseguro Seguros Personales and Crediseguro Seguros Generales, and it has Pacífico EPS as an associate, which are dynamic participants in the business of multiple and health insurance, respectively.

(iii)

Credicorp Capital Ltd. was formed in 2012, and its main subsidiaries are Credicorp Capital Holding Peru (owner of Credicorp Capital Perú S.A.A.), Credicorp Capital Holding Colombia (owner of Credicorp Capital Colombia), and Credicorp Capital Holding Chile (owner of Credicorp Capital Chile), which carry out their activities in Peru, Colombia and Chile, respectively. We present below the individual or consolidated financial statements in accordance with IFRS and before eliminations for consolidation purposes:

Entity	Percentage of interest (direct and indirect)				Assets				Liabilities				Equity				Net income (loss)
	2018		2017		2018		2017		2018		2017		2018		2017		2018		2017
	%		%		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)		S/(000)

Credicorp Capital Holding Perú S.A. and Subsidiaries		100.00		100.00		339,220		303,121		141,943		121,302		197,277		181,819		42,684		28,604
Credicorp Capital Colombia		100.00		100.00		1,882,183		1,667,003		1,749,472		1,522,222		132,711		144,781		15,407		18,795
Credicorp Capital Chile		100.00		100.00		324,907		213,165		196,715		71,108		128,192		142,057		12,504		21,420

Disclosure of Property, furniture and equipment estimated useful lives [Text Block]

	Years

Buildings and other construction	33
Installations	10
Furniture and fixtures	10
Vehicles and equipment	5
Computer hardware	4

Disclosure of intangible assets estimated useful lives [Text Block]

Intangible assets identified as a consequence of the acquisition of subsidiaries are recognized in the consolidated statement of financial position at their fair values determined on the acquisition date and are amortized using the straight line method over their estimated useful life as follows:

		Estimated useful life in years

Client relationship - Prima AFP (AFP Unión Vida)		20
Client relationship – Credicorp Capital Holding Chile (Inversiones IMT)		16
Client relationship cash, fixed and variable income - Credicorp Capital Colombia		5
Client relationship APT - Credicorp Capital Colombia		5
Client relationship - Edyficar Peru		10
Client relationship – Mibanco		7
Brand - Mibanco		25
Brand - Credicorp Capital Colombia		5
Fund manager contract - Credicorp Capital Colombia		28
Fund manager contract - Credicorp Capital Holding Chile (Inversiones IMT)		5
Core deposits - Mibanco		6
Others		5