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Financial Assets at Amortised Cost
 12 Months Ended
Dec. 31, 2021
Financial Assets at Amortised Cost [Abstract]  
Financial Assets at Amortised Cost
 
10. Financial assets at amortized cost
10.1. Loans and advances to financial institutions
 
 
 
 
 
 
 
 
 
 
    
December 31,
2021
     
December 31,
2020
  
Loans and advances to financial institutions
      4,251,812        3,528,634  
Allowances for loan losses
      (41,657 )       (879,312 ) 
    
 
 
     
 
 
  
TOTAL
   
 
4,210,155
 
   
 
2,649,322
 
    
 
 
     
 
 
  
10.2. Loans and advances to customers
 
 
 
 
 
 
 
 
 
 
    
December 31,
2021
     
December 31,
2020
  
Credit Cards
      157,138,508        172,881,176  
Consumer loans
      40,950,803        42,445,738  
Commercial papers
      29,133,603        28,855,759  
Overdrafts
      22,528,190        26,280,711  
Real estate mortgage
      22,908,902        25,276,294  
Loans for prefinancing and financing of exports
      13,342,611        24,120,247  
Notes
      20,402,921        22,191,592  
Pledge loans
      16,341,659        17,225,768  
Loans to employees
      2,916,555        3,218,012  
Receivables from financial leases
      2,912,334        2,818,742  
Other financing
      59,864,344        72,907,308  
     
Allowances for loan losses
      (13,656,218 )       (18,869,665 ) 
    
 
 
     
 
 
  
TOTAL
   
 
374,784,212
 
   
 
419,351,682
 
    
 
 
     
 
 
  
Loans by Economic Activity
The table below analyzes our loan portfolio (broken down by performing and
non-performing)
according to the borrowers’ main economic activity as of December 31, 2021 and 2020. Where appropriate, loans to individuals are allocated to the economic activity of the borrower. Loans are stated before deduction of the allowance for loan losses.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
    
December 31, 2021
  
    
Loan portfolio
  
    
Performing
     
%
    
Non-performing
     
%
    
Total
  
    
(in thousands of pesos, except percentages)
  
Agricultural and livestock
      16,247,310        4.24 %      140,262        1.46 %      16,387,572  
Construction
      2,185,555        0.57 %      239,470        2.49 %      2,425,025  
Consumer
      219,545,441        57.31 %      4,313,383        44.84 %      223,858,824  
Electricity, oil, water and sanitary services
      174,030        0.05 %      49        0.00 %      174,079  
Financial sector
      4,251,812        1.11 %      —        0.00 %      4,251,812  
Government services
      740        0.00 %      —        0.00 %      740  
Mining products
      13,359,180        3.49 %      1,745,792        18.15 %      15,104,972  
Others
      49,411,872        12.89 %      2,391,273        24.85 %      51,803,145  
Other manufacturing
      42,700,225        11.15 %      484,095        5.03 %      43,184,320  
Services
      2,976,841        0.78 %      10,396        0.11 %      2,987,237  
Transport
      4,059,140        1.06 %      31,057        0.32 %      4,090,197  
Wholesale and retail trade
      28,160,679        7.35 %      264,380        2.75 %      28,425,059  
    
 
 
     
 
 
    
 
 
     
 
 
    
 
 
  
    
 
383,072,825
 
   
 
100.00
% 
  
 
9,620,157
 
   
 
100.00
% 
  
 
392,692,982
 
    
 
 
     
 
 
    
 
 
     
 
 
    
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
    
December 31, 2020
  
    
Loan portfolio
  
    
Performing
     
%
    
Non-performing
     
%
    
Total
  
    
(in thousands of pesos, except percentages)
  
Agricultural and livestock
      22,623,264        5.22 %      162,730        1.98 %      22,785,994  
Construction
      2,797,267        0.65 %      358,040        4.36 %      3,155,307  
Consumer
      237,858,438        54.86 %      3,889,927        47.40 %      241,748,365  
Electricity, oil, water and sanitary services
      1,499,579        0.35 %      555        0.01 %      1,500,134  
Financial sector
      3,528,634        0.81 %      —          0.00 %      3,528,634  
Government services
      772        0.00 %      —          0.00 %      772  
Mining products
      38,816,911        8.95 %      2,513,238        30.63 %      41,330,149  
Others
      62,887,856        14.50 %      41,223        0.51 %      62,929,079  
Other manufacturing
      34,411,780        7.94 %      235,913        2.87 %      34,647,693  
Services
      2,268,501        0.52 %      538,181        6.56 %      2,806,682  
Transport
      3,806,120        0.88 %      43,959        0.54 %      3,850,079  
Wholesale and retail trade
      23,054,845        5.32 %      422,084        5.14 %      23,476,929  
    
 
 
     
 
 
    
 
 
     
 
 
    
 
 
  
    
 
433,553,967
 
   
 
100.00
% 
  
 
8,205,850
 
   
 
100.00
% 
  
 
441,759,817
 
    
 
 
     
 
 
    
 
 
     
 
 
    
 
 
  
The Group holds loans and other financing within a business model whose objective is collecting contractual cash flows. 
Receivables from financial leases
The Group as lessor entered into finance lease agreements related to vehicles and machinery and equipment.
The following table shows the total gross investment of the finance leases (leasing) and the present value of the minimum payments to be received thereunder:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
    
December 31, 2021
     
December 31, 2020
  
    
Total
investment
     
Present value of
minimum lease
payments
     
Total
investment
     
Present value
of minimum
lease payments
  
Term
                                    
Up to 1 year
      1,426,378        803,133        1,663,407        1,124,294  
From 1 to 5 years
      3,014,700        2,109,201        2,371,728        1,694,448  
    
 
 
     
 
 
     
 
 
     
 
 
  
TOTAL
   
 
4,441,078
 
   
 
2,912,334
 
   
 
4,035,135
 
   
 
2,818,742
 
    
 
 
     
 
 
     
 
 
     
 
 
  
Principal
               2,822,018                 2,732,548  
Interest accrued
               90,316                 86,194  
             
 
 
              
 
 
  
TOTAL
            
 
2,912,334
 
            
 
2,818,742
 
             
 
 
              
 
 
  
10.3. Reverse repurchase agreements
 
 
 
 
 
 
 
 
 
 
    
December 31,
2021
     
December 31,
2020
  
BCRA repos
      137,548,495        74,245,015  
Allowances for loan losses
      (165,557 )       (756,128 ) 
    
 
 
     
 
 
  
TOTAL
   
 
137,382,938
 
   
 
73,488,887
 
    
 
 
     
 
 
  
The fair value of financial assets accepted as collateral that the Group is permitted to sell or repledge in the absence of default was
153,630,126
as of December 31, 2021.
10.4. Debt securities
 
 
 
 
 
 
 
 
 
 
    
December 31,
2021
     
December 31,
2020
  
Government securities
      22,565,485          —  
Allowances for credit losses
      (2,707,858 )         —  
    
 
 
     
 
 
  
TOTAL
   
 
19,857,627
 
   
 
  —
 
    
 
 
     
 
 
  
10.5. Other financial assets
 
 
 
 
 
 
 
 
 
 
    
December 31,
2021
     
December 31,
2020
  
Financial assets pledged as collateral
      15,666,596        16,562,656  
Other receivables
      10,239,128        13,247,083  
Receivable from financial institution for spot transactions pending settlement
      2,614,126        1,682,087  
Receivable from
non-financial
institution for spot transactions pending settlement
      8,098        157,355  
Others
      197,522        208,156  
Allowances for loan losses
      (288,056 )       (399,045 ) 
    
 
 
     
 
 
  
TOTAL
   
 
28,437,414
 
   
 
31,458,292