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7.
LOAN PORTFOLIO, NET
(a)
Loan portfolio comprises the following:
2015
2014
S/.000
S/.000
Direct loans:
Loans to intermediary financial institutions
7,405,143
5,390,624
First-tier loans
164,582
13,201
Restructured loans
14,270
12,492
Refinanced loans
2,267
5,066
Past-due loans
57,742
144,058
Accounts under legal collection
257
1,219
Total direct loans
7,644,261
5,566,660
Plus:
Accrued interests on loans
310,390
225,742
Less:
Provision for impaired loans
(640,946)
(594,442)
Deferred interests
(3,709)
(3,213)
(644,655)
(597,655)
Total
7,309,996
5,194,747
Contingent loans (note 14)
773,390
658,468
The balance of the loan portfolio, comprised of direct and contingent loans, mainly
corresponds to loans in foreign currency granted to Intermediary Financial Institutions
(IFIs) and first-tier portfolio.
Loans granted to IFIs are guaranteed through contractual clauses comprised in global
contracts of resources channeling subscribed with each debtor, where COFIDE is entitled to:
i) the automatic collection of debt installments through a charge on the checking account that
the debtor holds in BCRP and/or operating Bank he designates and ii), by transferring rights
over loan portfolio financed with COFIDE’s resources up to the amount of the debt, including
interests, commissions, arrears and other expenses. This transfer becomes effective if a bank
fails to comply with the payment of one installment or when COFIDE believes there are
special circumstances that complicate the recovery of resources granted. For other IFIs,
coverage is similar, except if designated to an operator bank other than the BCRP.