CREDICORP LTD | CIK:0001001290 | 3

  • Filed: 4/26/2018
  • Entity registrant name: CREDICORP LTD (CIK: 0001001290)
  • Generator: DataTracks
  • SEC filing page: http://www.sec.gov/Archives/edgar/data/1001290/000114420418022710/0001144204-18-022710-index.htm
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    • ifrs-full:DisclosureOfDepositsFromCustomersExplanatory

    13
    DEPOSITS AND OBLIGATIONS
     
    a)
    This item consists of the following:
     
     
     
    2017
     
    2016
     
     
     
    S/(000)
     
    S/(000)
     
     
     
     
     
     
     
     
     
    Demand deposits
     
     
    29,770,276
     
     
    28,506,270
     
    Time deposits (c)
     
     
    30,184,314
     
     
    22,531,305
     
    Saving deposits
     
     
    28,633,099
     
     
    26,684,134
     
    Severance indemnity deposits
     
     
    7,170,934
     
     
    7,117,685
     
    Bank’s negotiable certificates
     
     
    959,051
     
     
    743,726
     
    Total
     
     
    96,717,674
     
     
    85,583,120
     
    Interest payable
     
     
    452,737
     
     
    333,267
     
    Total
     
     
    97,170,411
     
     
    85,916,387
     
     
    The Group has established a policy to remunerate demand deposits and savings deposits according to an interest rate scale, based on the average balance maintained in those accounts; on the other hand, according to its policy, balances that are lower than a specified amount for each type of account do not bear interest. Also, time deposits earn interest at market rates.
     
    Interest rates are determined by the Group considering the interest rates prevailing in the market in which each of the Group’s subsidiaries operates.
     
    b)
    The amounts of non-interest-bearing and interest-bearing deposits and obligations are presented below:
     
     
     
    2017
     
    2016
     
     
     
    S/(000)
     
    S/(000)
     
     
     
     
     
     
     
     
     
    Non-interest-bearing -
     
     
     
     
     
     
     
    In Peru
     
     
    26,786,474
     
     
    24,718,582
     
    In other countries
     
     
    2,596,435
     
     
    3,366,109
     
     
     
     
    29,382,909
     
     
    28,084,691
     
     
     
     
     
     
     
     
     
    Interest-bearing -
     
     
     
     
     
     
     
    In Peru
     
     
    60,372,602
     
     
    52,472,191
     
    In other countries
     
     
    6,962,163
     
     
    5,026,238
     
     
     
     
    67,334,765
     
     
    57,498,429
     
     
     
     
     
     
     
     
     
    Total
     
     
    96,717,674
     
     
    85,583,120
     
     
    c)
    The balance of time deposits classified by maturity is as follows:
     
     
     
    2017
     
    2016
     
     
     
    S/(000)
     
    S/(000)
     
     
     
     
     
     
     
     
     
    Up to 3 months
     
     
    15,152,619
     
     
    11,017,649
     
    From 3 months to 1 year
     
     
    8,735,918
     
     
    6,614,180
     
    From 1 to 3 years
     
     
    3,478,314
     
     
    2,770,452
     
    From 3 to 5 years
     
     
    702,962
     
     
    777,729
     
    Over 5 years
     
     
    2,114,501
     
     
    1,351,295
     
    Total
     
     
    30,184,314
     
     
    22,531,305
     
     
    As of December 31, 2017 and 2016, Management considers the Group’s deposits and obligations are diversified with no significant concentrations.
     
    At December 31, 2017 and 2016, of the total balance of deposits and obligations in Peru, approximately S/30,064.8 million and S/28,239.3 million are secured by the Peruvian “Fondo de Seguro de Depósitos” (Deposit Insurance Fund). At said dates, maximum coverage recognized by “Fondo de Seguro de Depósitos” totaled S/97,529 and S/97,644, respectively.