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v3.21.1

CASH AND DUE FROM BANKS (Tables) | 12 Months Ended
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Dec. 31, 2020
CASH AND DUE FROM BANKS |
Schedule of detailed information about cash and cash equivalents |
|  | 2020 |  | 2019
|  | S/(000) |  | S/(000)
Cash and clearing (b) |  | 5,233,643 |  | 4,917,674
Deposits with Central Reserve Bank of Peru (BCRP) (b) |  | 26,003,415 |  | 18,367,651
Deposits with Central Bank of Bolivia and Colombia (b) |  | 1,085,785 |  | 652,579
Deposits with foreign banks (c) |  | 3,350,106 |  | 1,402,403
Deposits with local banks (c) |  | 1,027,081 |  | 481,412
Interbank funds |  | 32,222 |  | 137,722
Accrued interest |  | 1,515 |  | 14,601
Total cash and cash equivalents |  | 36,733,767 |  | 25,974,042
Restricted funds |  | 19,227 |  | 12,720
Total cash |  | 36,752,994 |  | 25,986,762
Schedule of detailed information about reserve deposits |
|  | 2020 |  | 2019
|  | S/(000) |  | S/(000)
Legal cash requirements (i) |  |  |  |
Deposits with Central Reserve Bank of Peru |  | 16,903,941 |  | 13,727,222
Deposits with Central Bank of Bolivia |  | 1,079,878 |  | 646,865
Deposits with Republic Bank of Colombia |  | 5,907 |  | 5,714
Cash in vaults of Bank |  | 4,529,683 |  | 4,132,347
Total legal cash requirements |  | 22,519,409 |  | 18,512,148
Additional funds |  |  |  |
Overnight deposits with Central Reserve Bank of Peru (ii) |  | 2,972,744 |  | 4,640,429
Term deposits with Central Reserve Bank of Peru (iii) |  | 5,988,900 |  | —
Cash in vaults of Bank and others |  | 703,960 |  | 785,327
Other Deposits BCRP |  | 137,830 |  | —
Total additional funds |  | 9,803,434 |  | 5,425,756
Total |  | 32,322,843 |  | 23,937,904
(i) At December 31, 2020 cash and deposits that generate interest subject to legal cash requirements in local and foreign currency are subject to an implicit rate of 4.00 percent and 34.51 percent, respectively, on the total balance of obligations subject to legal cash requirements, as required by the BCRP (5.01 percent and 35.06 percent, respectively, at December 31, 2019). In Management’s opinion, the Group has complied with the calculation legal cash requirements established by current regulations. (ii) At December 31, 2020, the Group maintains four “overnight” deposits with the BCRP, of which are two denominated in soles in amount of S/559.7 million and two in U.S Dollars in amount of US$666.4 million, equivalent to S/2,413.0 million. At said date, the deposit in soles and deposits in U.S Dollars accrue interest at annual rates of 0.15 percent and 0.13 percent, respectively, and have maturities at 4 days. At December 31, 2019, the Group maintains three “overnight” deposits with the BCRP, which are one denominated in soles in amount of S/360.0 million and two in U.S Dollars in amount of US$1,291.6 million, equivalent to S/4,280.4 million . At said date, deposits in soles and deposits in U.S Dollars accrue interest at annual rates of 1.00 percent and 1.57, respectively, and have maturities at 2 days. (iii) In order to temporarily control the liquidity generated by the disbursement of the credit repurchase agreement with a National Government Guarantee represented in securities, and in view of the BCRP’s offer of profitable rates for short-term deposits. The Group maintains sixteen term deposits, which are denominated in soles. As of that date, the deposits accrue interest at an annual rate of 0.25 percent and have maturities between January 4 and 7, 2021.

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