2.b.12) Leases
The Group’s leases are classified as operating or financial leases, taking into account the economic substance of the contracts.
The Group as a lessee:
| • | Operating leases |
A lease is classified as an operating lease when the lessor does not transfer substantially to the lessee the entire risks and rewards incidental to ownership of the asset.
Costs related to operating leases are recognized on a straight-line basis in “Rental of real estate and equipment” and “Operation services and other service contracts” of the consolidated statement of comprehensive income for the year in which they arise.
| • | Financial Leases |
Leases are classified as financial when the lessor transfers to the lessee substantially all the risks and benefits inherent in the leased property.
The Group has no significant financial leases as they are defined by current IFRS regulations.
The Group has not entered into any significant leases with third parties.