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Provisions | 12 Months Ended
--- | ---
Dec. 31, 2023
Provisions [abstract] |
Disclosure of Provisions | 20. Provisions The Group, as a result of the ordinary course of its business, may be a party to legal lawsuits of a labor, commercial, tax and regulatory nature. A provision is recognized whenever the loss is classified as probable.
| • |  | Financial guarantees and loan commitments: reflects the ECL arising from financial guarantees issued, unused balances of checking account overdrafts, credit cards and other loan commitments.
| • |  | Other provisions: reflects the estimated amounts to pay class actions, labour, tax and commercial claims as well as other miscellaneous complaints.
|  | December 31, 2023 |  |  | December 31, 2022 |
Financial guarantees and loan commitments |  |  | 5,972,370 |  |  |  | 8,389,890 |
Other provisions |  |  | 14,751,393 |  |  |  | 18,607,266 |
Provisions commercial claims |  |  | 9,050,746 |  |  |  | 10,887,030 |
Provisions tax claims |  |  | 1,930,268 |  |  |  | 1,852,273 |
Provisions labor-related |  |  | 912,890 |  |  |  | 1,914,601 |
Others |  |  | 2,857,489 |  |  |  | 3,953,362 |
TOTAL |  |  | 20,723,763 |  |  |  | 26,997,156 |
Changes in fiscal year 2023 and 2022 are included below:
Accounts |  | Balances as of December 31, 2022 |  |  | Increases |  |  | Provision reversals |  |  | Provisions used |  |  | Inflation adjustment |  |  | Balances as of December 31, 2023 |
Financial guarantees and loan commitments |  |  | 8,389,890 |  |  |  | 4,849,781 |  |  |  | — |  |  |  | — |  |  |  | (7,267,301 | ) |  |  | 5,972,370 |
Other provisions |  |  | 18,607,266 |  |  |  | 16,490,255 |  |  |  | (104,110 | ) |  |  | (4,908,103 | ) |  |  | (15,333,915 | ) |  |  | 14,751,393 |
Provisions commercial claims |  |  | 10,887,030 |  |  |  | 10,922,759 |  |  |  | — |  |  |  | (3,631,466 | ) |  |  | (9,127,577 | ) |  |  | 9,050,746 |
Provisions labor-related |  |  | 1,914,601 |  |  |  | 1,625,231 |  |  |  | — |  |  |  | (1,086,102 | ) |  |  | (1,540,840 | ) |  |  | 912,890 |
Provisions tax claims |  |  | 1,852,273 |  |  |  | 1,287,530 |  |  |  | — |  |  |  | (35,933 | ) |  |  | (1,173,602 | ) |  |  | 1,930,268 |
Others |  |  | 3,953,362 |  |  |  | 2,654,735 |  |  |  | (104,110 | ) |  |  | (154,602 | ) |  |  | (3,491,896 | ) |  |  | 2,857,489 |
TOTAL PROVISIONS |  |  | 26,997,156 |  |  |  | 21,340,036 |  |  |  | (104,110 | ) |  |  | (4,908,103 | ) |  |  | (22,601,216 | ) |  |  | 20,723,763 |
Accounts |  | Balances as of December 31, 2021 |  |  | Increases |  |  | Provision reversals |  |  | Provisions used |  |  | Inflation adjustment |  |  | Balances as of December 31, 2022 |
Financial guarantees and loan commitments |  |  | 5,178,233 |  |  |  | 6,367,666 |  |  |  | — |  |  |  | — |  |  |  | (3,156,009 | ) |  |  | 8,389,890 |
Provisions for reorganization |  |  | 8,149,225 |  |  |  | 7,391,880 |  |  |  | (709,547 | ) |  |  | (11,531,927 | ) |  |  | (3,299,631 | ) |  |  | — |
Other provisions |  |  | 20,721,559 |  |  |  | 12,807,843 |  |  |  | (5,444 | ) |  |  | (2,641,073 | ) |  |  | (12,275,619 | ) |  |  | 18,607,266 |
Provisions commercial claims |  |  | 14,746,706 |  |  |  | 6,047,174 |  |  |  | — |  |  |  | (1,272,083 | ) |  |  | (8,634,767 | ) |  |  | 10,887,030 |
Provisions labor-related |  |  | 1,721,074 |  |  |  | 2,074,034 |  |  |  | — |  |  |  | (931,876 | ) |  |  | (948,631 | ) |  |  | 1,914,601 |
Provisions tax claims |  |  | 1,955,093 |  |  |  | 1,274,322 |  |  |  | — |  |  |  | (411,392 | ) |  |  | (965,750 | ) |  |  | 1,852,273 |
Others |  |  | 2,298,686 |  |  |  | 3,412,313 |  |  |  | (5,444 | ) |  |  | (25,722 | ) |  |  | (1,726,471 | ) |  |  | 3,953,362 |
TOTAL PROVISIONS |  |  | 34,049,017 |  |  |  | 26,567,389 |  |  |  | (714,991 | ) |  |  | (14,173,000 | ) |  |  | (18,731,259 | ) |  |  | 26,997,156 |
The expected terms to settle these obligations are as follows:
December 31, 2023 |  |  |  |  |  |
Provisions |  | Within 12 months |  |  | After 12 months |
Financial guarantees and loan commitments |  |  | 5,972,370 |  |  |  | — |
Other provisions |  |  | 10,525,110 |  |  |  | 4,226,283 |
Provisions commercial claims |  |  | 8,220,748 |  |  |  | 829,998 |
Provisions labor-related |  |  | 183,691 |  |  |  | 729,199 |
Provisions tax claims |  |  | 834,422 |  |  |  | 1,095,846 |
Others |  |  | 1,286,249 |  |  |  | 1,571,240 |
December 31, 2022 |  |  |  |  |  |
Provisions |  | Within 12 months |  |  | After 12 months |
Financial guarantees and loan commitments |  |  | 8,389,890 |  |  |  | — |
Other provisions |  |  | 6,142,604 |  |  |  | 12,464,662 |
Provisions comercial claims |  |  | 2,537,537 |  |  |  | 8,349,493 |
Provisions labor-related |  |  | 363,065 |  |  |  | 1,551,536 |
Provisions tax claims |  |  | 1,852,273 |  |  |  | — |
Others |  |  | 1,389,729 |  |  |  | 2,563,633 |
The Group’s management and legal advisors consider no further significant accounting effects could arise from the final outcome of the abovementioned proceedings other than those disclosed in these consolidated Financial Statements. Possible contingencies Contingent liabilities have not been recognized in these financial statements and correspond to 137 claims received (in court or administrative proceedings), that have arisen in the Bank’s ordinary course of business. The estimated amount of said claims amounts to 168,338 of which an outflow of funds is estimated for approximately 142,601 in the next 12 months. These claims are primarily related to leasing claims, petitions to secure evidence, and labor claims. The Group’s management and legal advisors consider that the probability of these cases resulting in an outflow of resources is possible, but not probable, and that the potential cash disbursements should not be material.

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