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v3.22.1

CASH AND DUE FROM BANKS (Tables) | 12 Months Ended
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Dec. 31, 2021
CASH AND DUE FROM BANKS [Abstract] |
Composition of Cash and due from Banks |
| a) | The composition of the item is presented below:
|  | 2021 |  |  | 2020 |
|  | S/(000) |  |  | S/(000) |
Cash and clearing (b) |  |  | 4,973,007 |  |  |  | 5,233,643 |
Deposits with Central Reserve Bank of Peru (BCRP) (b) |  |  | 25,359,565 |  |  |  | 26,003,415 |
Deposits with Central Bank of Bolivia and Colombia (b) |  |  | 913,377 |  |  |  | 1,085,785 |
Deposits with foreign banks (c) |  |  | 6,727,014 |  |  |  | 3,350,106 |
Deposits with local banks (c) |  |  | 1,316,292 |  |  |  | 1,027,081 |
Interbank funds |  |  | 2,943 |  |  |  | 32,222 |
Accrued interest |  |  | 1,347 |  |  |  | 1,515 |
Total cash and cash equivalents |  |  | 39,293,545 |  |  |  | 36,733,767 |
Restricted funds |  |  | 27,195 |  |  |  | 19,227 |
Total cash |  |  | 39,320,740 |  |  |  | 36,752,994 |
Cash, Clearing and Deposits with Central Banks and Bank of Republic | The composition of these funds is as follows:
|  | 2021 |  |  | 2020 |
|  | S/(000) |  |  | S/(000) |
Legal cash requirements |  |  |  |  |  |  |  |
Deposits with Central Reserve Bank of Perú (i) |  |  | 19,383,577 |  |  |  | 16,903,941 |
Deposits with Central Bank of Bolivia |  |  | 905,309 |  |  |  | 1,079,878 |
Deposits with Republic Bank of Colombia |  |  | 8,068 |  |  |  | 5,907 |
Cash in vaults of Bank |  |  | 4,275,997 |  |  |  | 4,529,683 |
Total legal cash requirements |  |  | 24,572,951 |  |  |  | 22,519,409 |
Additional funds |  |  |  |  |  |  |  |
Overnight deposits with Central Reserve Bank of Perú (ii) |  |  | 4,536,379 |  |  |  | 2,972,744 |
Term deposits with Central Reserve Bank of Perú (iii) |  |  | 1,260,000 |  |  |  | 5,988,900 |
Cash in vaults of Bank and others |  |  | 697,010 |  |  |  | 703,960 |
Other Deposits BCRP |  |  | 179,609 |  |  |  | 137,830 |
Total additional funds |  |  | 6,672,998 |  |  |  | 9,803,434 |
Total |  |  | 31,245,949 |  |  |  | 32,322,843 |
| (i) | At December 31, 2021 cash and deposits that generate interest subject to legal cash requirements in local and foreign currency are subject to an implicit rate of 4.77 percent and 33.17 percent, respectively, on the total balance of obligations subject to legal cash requirements, as required by the BCRP (4.00 percent and 34.51 percent, respectively, at December 31, 2020).
In Management’s opinion, the Group has complied with the calculation legal cash requirements established by current regulations.
| (ii) | As of December 31, 2021, the Group maintains four “overnight” deposits with the BCRP, of which are two denominated in soles in amount of S/690.0 million and two in US dollar in amount of US$964.7 million, equivalent to S/3,846.4 million. At said date, the deposit in soles and deposits in US dollar accrue interest at annual rates of 1.85 percent and 0.05 percent, respectively, and have maturities at 3 days.
As of December 31, 2020, the Group maintains four “overnight” deposits with the BCRP, which are two denominated in soles in amount of S/559.7 million and two in US dollar in amount of US$666.4 million, equivalent to S/2,413.0 million. At said date, deposits in soles and deposits in US dollar accrue interest at annual rates of 0.15 percent and 0.13, respectively, and have maturities at 4 days.
| (iii) | In order to manage liquidity and in view of the BCRP’s offer of profitable rates for short-term deposits. The Group maintains four term deposits, which are denominated in soles, accrue interest at an annual rate of 2.48 percent and 2.49 percent and have maturities between January 3 and 4, 2022. As of December 31, 2020, the group held sixteen time deposits denominated in soles, accruing interest at an annual rate of 0.25 percent and maturing between January 4 and January 7, 2021. The decrease in time deposits at the BCRP is mainly due to lower liquidity surpluses due to a lower level of customer deposits.

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