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EQUITY (Tables) | 12 Months Ended
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Dec. 31, 2020
EQUITY |
Schedule of treasury shares | We present below the stocks of Credicorp Ltd., that the entities of the Group maintain as of December 31, 2020, 2019 and 2018:
|  | Number of shares
|  | Shares of |  | Shared-based |  |
As of December 31, 2020 |  | the Group |  | payment (*) |  | Total
Atlantic Security Holding Corporation |  | 14,620,846 |  | — |  | 14,620,846
BCP |  | — |  | 159,339 |  | 159,339
Grupo Crédito |  | — |  | 32,512 |  | 32,512
Pacífico Seguros |  | — |  | 29,845 |  | 29,845
Credicorp Capital Servicios Financieros |  | — |  | 17,598 |  | 17,598
Mibanco |  | — |  | 14,872 |  | 14,872
Atlantic Security Bank |  | — |  | 11,434 |  | 11,434
Prima AFP |  | — |  | 7,664 |  | 7,664
Other minors |  | — |  | 20,624 |  | 20,624
|  | 14,620,846 |  | 293,888 |  | 14,914,734
|  | Number of shares
|  |  |  | Shared- |  |
|  | Shares of |  | based |  |
As of December 31, 2019 |  | the Group |  | payment (*) |  | Total
Atlantic Security Holding Corporation |  | 14,620,846 |  | — |  | 14,620,846
BCP |  | — |  | 134,169 |  | 134,169
Pacífico Seguros |  | — |  | 29,539 |  | 29,539
Credicorp Capital Servicios Financieros |  | — |  | 13,830 |  | 13,830
Mibanco |  | — |  | 9,060 |  | 9,060
Credicorp Perú |  | — |  | 21,695 |  | 21,695
Credicorp Capital limited |  | — |  | 9,518 |  | 9,518
Prima AFP |  | — |  | 6,397 |  | 6,397
Other minors |  | 4,387 |  | 22,723 |  | 27,110
|  | 14,625,233 |  | 246,931 |  | 14,872,164
|  | Number of shares
|  |  |  | Shared- |  |
|  | Shares of |  | based |  |
As of December 31, 2018 |  | the Group |  | payment (*) |  | Total
Atlantic Security Holding Corporation |  | 14,620,846 |  | — |  | 14,620,846
BCP |  | — |  | 162,286 |  | 162,286
Pacífico Seguros |  | — |  | 33,794 |  | 33,794
Credicorp Capital Servicios Financieros |  | — |  | 8,546 |  | 8,546
Mibanco |  | — |  | 9,934 |  | 9,934
Credicorp Perú |  | — |  | 13,113 |  | 13,113
Prima AFP |  | — |  | 6,979 |  | 6,979
Other minors |  | 1,880 |  | 25,896 |  | 27,776
|  | 14,622,726 |  | 260,548 |  | 14,883,274
(*) Corresponds to treasury stock that were granted to employees and senior management, for which they have the right to vote. These stocks are not vested at said dates, see Note 20.
Schedule of reserves within equity | “Other reserves” include unrealized gains (losses) on fair value of investments through other comprehensive income (available-for-sale investments under IAS 39, as of December 31, 2017) and on cash flow hedges derivative instruments, net of deferred income tax and non-controlling interest. Movement was as follows:
|  | Other reserves:
|  | Instruments |  |  |  |  |  |  |  |  |  |
|  | that will not be |  |  |  |  |  |  |  |  |  |
|  | reclassifed to |  |  |  |  |  |  |  |  |  |
|  | profit or loss |  | Instruments that will be reclassified to consolidated statement of income |  |
|  |  |  |  |  |  |  |  |  | Foreign |  |
|  | Equity |  | Debt |  | Reserve for |  |  |  | currency |  |
|  | instruments at |  | instruments at |  | cash flow |  | Insurance |  | translation |  |
|  | fair value |  | fair value |  | hedges |  | reserves |  | reserve |  | Total
|  | S/(000) |  | S/(000) |  | S/(000) |  | S/(000) |  | S/(000) |  | S/(000)
Balance as of January 1, 2018 |  | 431,711 |  | 853,747 |  | (32,781) |  | — |  | (16,041) |  | 1,236,636
Increase (decrease) in net unrealized gains on investments |  | 20,840 |  | (583,385) |  | — |  | — |  | — |  | (562,545)
Transfer of net realized gains on investments to profit or loss |  | — |  | (38,983) |  | — |  | — |  | — |  | (38,983)
Transfer of the impairment credit loss on investments to profit or loss, Note 24 |  | — |  | (1,909) |  | — |  | — |  | — |  | (1,909)
Change in net unrealized gain on cash flow hedges derivatives |  | — |  | — |  | 73,263 |  | — |  | — |  | 73,263
Transfer of net realized gain on cash flow hedges derivatives to profit or loss |  | — |  | — |  | (43,643) |  | — |  | — |  | (43,643)
Foreign exchange translation |  | — |  | — |  | — |  | — |  | 45,634 |  | 45,634
Balance as of December 31, 2018 |  | 452,551 |  | 229,470 |  | (3,161) |  | — |  | 29,593 |  | 708,453
Increase in net unrealized gains on investments |  | 97,514 |  | 606,276 |  | — |  | — |  | — |  | 703,790
Transfer of net realized loss on investments to profit or loss |  | — |  | 420,987 |  | — |  | — |  | — |  | 420,987
Transfer of recovery of credit loss of investments to profit or loss, Note 24 |  | — |  | (745) |  | — |  | — |  | — |  | (745)
Change in net unrealized gain on cash flow hedges derivatives |  | — |  | — |  | (62,002) |  | — |  | — |  | (62,002)
Transfer of net realized gain on cash flow hedges derivatives to profit or loss |  | — |  | — |  | 35,059 |  | — |  | — |  | 35,059
Other reserves |  | — |  | — |  | — |  | (658,491) |  | — |  | (658,491)
Foreign exchange translation |  | — |  | — |  | — |  | — |  | (58,862) |  | (58,862)
Balance as of December 31, 2019 |  | 550,065 |  | 1,255,988 |  | (30,104) |  | (658,491) |  | (29,269) |  | 1,088,189
Increase in net unrealized gains on investments |  | 76,849 |  | 196,152 |  | — |  | — |  | — |  | 273,001
Transfer of net realized loss on investments to profit or loss |  | — |  | 440,416 |  | — |  | — |  | — |  | 440,416
Transfer of recovery of credit loss of investments to profit or loss, Note 24 |  | — |  | 52,263 |  | — |  | — |  | — |  | 52,263
Change in net unrealized loss on cash flow hedges derivatives |  | — |  | — |  | (68,001) |  | — |  | — |  | (68,001)
Transfer of net realized losses on cash flow hedges derivatives to profit or loss |  | — |  | — |  | 55,784 |  | — |  | — |  | 55,784
Other reserves |  | — |  | — |  | — |  | (234,107) |  | — |  | (234,107)
Foreign exchange translation |  | — |  | — |  | — |  | — |  | 259,572 |  | 259,572
Net movement in hedges of net investments in foreign businesses |  | — |  | — |  | — |  | — |  | (1,219) |  | (1,219)
Balance as of December 31, 2020 |  | 626,914 |  | 1,944,819 |  | (42,321) |  | (892,598) |  | 229,084 |  | 1,865,898
Schedule of analysis of other comprehensive income | The movement of the item is as follows:
|  | 2020 |  | 2019 |  | 2018
|  | S/(000) |  | S/(000) |  | S/(000)
To be reclassified to the consolidated statement of income in later periods |  |  |  |  |  |
Net unrealized (gain) loss |  | 196,152 |  | 606,276 |  | (583,385)
Transfer of net realized loss (gain) to profit or loss |  | 440,416 |  | 420,987 |  | (38,983)
Transfer of recovery of credit loss to profit or loss |  | 52,263 |  | (745) |  | (1,909)
Sub total |  | 688,831 |  | 1,026,518 |  | (624,277)
Non-controlling interest |  | 13,814 |  | 16,082 |  | (6,397)
Income tax |  | 11,717 |  | 22,259 |  | (11,831)
|  | 714,362 |  | 1,064,859 |  | (642,505)
Cash flow hedge: |  |  |  |  |  |
Net (losses) gains on cash flow hedges |  | (68,001) |  | (62,002) |  | 73,263
Transfer of net realized losses (gains) on cash flow hedges derivatives to profit or loss |  | 55,784 |  | 35,059 |  | (43,643)
Sub total |  | (12,217) |  | (26,943) |  | 29,620
Non-controlling interest |  | (252) |  | (618) |  | 679
Income tax |  | (3,933) |  | (10,290) |  | 10,942
|  | (16,402) |  | (37,851) |  | 41,241
Other reserves: |  |  |  |  |  |
Insurances reserves |  | (234,107) |  | (658,491) |  | —
Non-controlling interest |  | (2,867) |  | (8,065) |  | —
Income tax |  | (26,846) |  | — |  | —
|  | (263,820) |  | (666,556) |  | —
Foreign exchange traslation: |  |  |  |  |  |
Exchange gains or losses |  | 259,572 |  | (58,862) |  | 45,634
Net movement in hedges of net investments in foreign businesses |  | (1,219) |  | — |  | —
Sub total |  | 258,353 |  | (58,862) |  | 45,634
Non-controlling interest |  | (1,301) |  | 539 |  | 21
|  | 257,052 |  | (58,323) |  | 45,655
|  | 2020 |  | 2019 |  | 2018
|  | S/(000) |  | S/(000) |  | S/(000)
Not to be reclassified to the consolidated statement of income in later periods: |  |  |  |  |  |
Equity instruments at fair value through other comprehensive income - |  |  |  |  |  |
Net unrealized gains |  | 76,849 |  | 97,514 |  | 20,840
Non-controlling interest |  | (165) |  | (3) |  | (37)
Income tax |  | (3,414) |  | (5,999) |  | 168
|  | 73,270 |  | 91,512 |  | 20,971
|  | 2020 |  | 2019 |  | 2018
|  | S/(000) |  | S/(000) |  | S/(000)
Attributable to: |  |  |  |  |  |
Credicorp's equity holders |  | 777,709 |  | 379,736 |  | (528,183)
Non-controlling interest |  | 9,229 |  | 7,935 |  | (5,734)
|  | 786,938 |  | 387,671 |  | (533,917)
Schedule of distribution of dividends | The chart below shows the distribution of dividends agreed by the Board of Directors :
|  | 2020 |  | 2019 |  | 2018
Date of Meeting - Board of Directors |  | 27.02.2020 |  | 27.02.2019 |  | 28.02.2018
Dividends distribution, net of treasury shares effect (in thousands of soles) |  | 2,392,844 |  | 1,595,229 |  | 1,130,427
Payment of dividends per share (in soles) |  | 30.0000 |  | 20.0000 |  | 14.1726
Date of dividends payout |  | 08.05.2020 |  | 10.05.2019 |  | 11.05.2018
Exchange rate published by the SBS |  | 3.4081 |  | 3.3150 |  | 3.2929
Dividends payout (equivalent in thousands of US$) |  | 702,105 |  | 481,215 |  | 343,292

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