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PROPERTY, FURNITURE AND EQUIPMENT, NET | 12 Months Ended
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Dec. 31, 2023
PROPERTY, FURNITURE AND EQUIPMENT, NET [Abstract] |
PROPERTY, FURNITURE AND EQUIPMENT, NET |
9 | PROPERTY, FURNITURE AND EQUIPMENT, NET
| a) | The movement of property, furniture and equipment and accumulated depreciation, for the years ended December 31, 2023, 2022, and 2021 is as follows:
|  | Land |  |  | Buildings and other constructions |  |  | Installations |  |  | Furniture and fixtures |  |  | Computer hardware |  |  | Vehicles and equipment |  |  | Work in progress |  |  | 2023 |  |  | 2022 |  |  | 2021 |
|  | S/(000) |  |  | S/(000) |  |  | S/(000) |  |  | S/(000) |  |  | S/(000) |  |  | S/(000) |  |  | S/(000) |  |  | S/(000) |  |  | S/(000) |  |  | S/(000) |
Cost - |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance as of January 1 |  |  | 375,485 |  |  |  | 1,146,905 |  |  |  | 731,678 |  |  |  | 467,134 |  |  |  | 571,046 |  |  |  | 112,161 |  |  |  | 58,787 |  |  |  | 3,463,196 |  |  |  | 3,500,890 |  |  |  | 3,515,202 |
Additions |  |  | – |  |  |  | 3,008 |  |  |  | 16,056 |  |  |  | 41,287 |  |  |  | 93,782 |  |  |  | 360 |  |  |  | 167,878 |  |  |  | 322,371 |  |  |  | 192,700 |  |  |  | 107,790 |
Acquisition of business |  |  | – |  |  |  | – |  |  |  | – |  |  |  | 364 |  |  |  | 91 |  |  |  | – |  |  |  | – |  |  |  | 455 |  |  |  | 419 |  |  |  | – |
Transfers |  |  | – |  |  |  | – |  |  |  | 45,603 |  |  |  | 10,434 |  |  |  | 1,192 |  |  |  | 285 |  |  |  | (57,514 | ) |  |  | – |  |  |  | – |  |  |  | – |
Disposals and others |  |  | (48,372 | ) |  |  | (9,269 | ) |  |  | (13,856 | ) |  |  | (33,432 | ) |  |  | (51,900 | ) |  |  | (5,011 | ) |  |  | (51,896 | ) |  |  | (213,736 | ) |  |  | (230,813 | ) |  |  | (122,102 | )
Balance as of December 31 |  |  | 327,113 |  |  |  | 1,140,644 |  |  |  | 779,481 |  |  |  | 485,787 |  |  |  | 614,211 |  |  |  | 107,795 |  |  |  | 117,255 |  |  |  | 3,572,286 |  |  |  | 3,463,196 |  |  |  | 3,500,890 |
Accumulated depreciation - |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance as of January 1 |  |  | – |  |  |  | 725,590 |  |  |  | 550,001 |  |  |  | 324,080 |  |  |  | 492,609 |  |  |  | 89,818 |  |  |  | – |  |  |  | 2,182,098 |  |  |  | 2,192,111 |  |  |  | 2,140,327 |
Depreciation of the period |  |  | – |  |  |  | 22,575 |  |  |  | 34,658 |  |  |  | 30,904 |  |  |  | 35,643 |  |  |  | 5,328 |  |  |  | – |  |  |  | 129,108 |  |  |  | 128,443 |  |  |  | 140,173 |
Acquisition of business |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | 102 |  |  |  | – |
Disposals and others |  |  | – |  |  |  | (3,479 | ) |  |  | (13,603 | ) |  |  | (27,138 | ) |  |  | (47,278 | ) |  |  | (4,947 | ) |  |  | – |  |  |  | (96,445 | ) |  |  | (138,558 | ) |  |  | (88,389 | )
Balance as of December 31 |  |  | – |  |  |  | 744,686 |  |  |  | 571,056 |  |  |  | 327,846 |  |  |  | 480,974 |  |  |  | 90,199 |  |  |  | – |  |  |  | 2,214,761 |  |  |  | 2,182,098 |  |  |  | 2,192,111 |
Net carrying amount |  |  | 327,113 |  |  |  | 395,958 |  |  |  | 208,425 |  |  |  | 157,941 |  |  |  | 133,237 |  |  |  | 17,596 |  |  |  | 117,255 |  |  |  | 1,357,525 |  |  |  | 1,281,098 |  |  |  | 1,308,779 |
Banks, financial institutions and insurance entities operating in Peru cannot pledge their fixed assets. During the years 2023 and 2022, the Group, as part of the investment in fixed assets, has made disbursements related mainly to the purchase of computer equipment, furniture and fixtures and the remodeling of its various agencies. During 2021, as part of the investment in fixed assets that it makes annually, it has made disbursements related mainly to the remodeling of its headquarters located in La Molina, San Pedro office, Lima office. During the year 2023, Management decided to sell various land and buildings, the approximate sale price of which was S/53.1 million, with a net cost of S/51.4 million (as of December 31, 2022, an approximate sale price of S/46.1 million, with a net cost of S/33.8 million). Credicorp Ltd. subsidiaries maintain insurance on their main assets in accordance with the policies established by management. Due to the implementation of IFRS 17, the expense for depreciation and amortization of fixed assets is distributed in the consolidated income statement in the depreciation and amortization item S/125.0 million and S/4.1 million corresponding to the attributable expense in the item insurance technical result. Management periodically reviews the residual value, useful life and the depreciation method used of the Group’s property, furniture and equipment; in order to ensure that these are consistent with your current economic benefit and life expectations. In the opinion of Management, as of December 31, 2023, 2022 and 2021, there is no evidence of impairment of the Group’s properties, furniture and equipment.

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