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INTANGIBLE ASSETS AND GOODWILL, NET (Tables) | 12 Months Ended
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Dec. 31, 2019
INTANGIBLE ASSETS AND GOODWILL, NET |
Schedule of detailed information about intangible assets | The movement of intangible assets with limited useful life for the years ended December 31, 2019, 2018 and 2017 was as follows:
|  | Client |  |  |  | Fund |  |  |  |  |  | Intangible |  |  |  |  |  |  |  |
|  | relationships |  | Brand |  | manager |  | Relationships |  | Software and |  | in |  |  |  |  |  |  |  |
Description |  | (i) |  | name (ii) |  | contract (iii) |  | with holders |  | developments |  | progress |  | Other |  | 2019 |  | 2018 |  | 2017
|  | S/(000) |  | S/(000) |  | S/(000) |  | S/(000) |  | S/(000) |  | S/(000) |  | S/(000) |  | S/(000) |  | S/(000) |  | S/(000)
Cost - |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balances at January 1 |  | 403,607 |  | 258,928 |  | 95,527 |  | 21,100 |  | 2,173,302 |  | 427,028 |  | 26,841 |  | 3,406,333 |  | 3,090,365 |  | 2,789,435
Additions |  | — |  | — |  | — |  | — |  | 101,503 |  | 270,454 |  | — |  | 371,957 |  | 419,789 |  | 271,722
Acquisition of business, Note 2(a) |  | 18,462 |  | 1,164 |  | 4,298 |  | — |  | 79,165 |  | — |  | 23,039 |  | 126,128 |  | — |  | —
Transfers |  | — |  | — |  | — |  | — |  | 357,432 |  | (357,432) |  | — |  | — |  | — |  | —
Disposals and others |  | (43,173) |  | (66,845) |  | (5,682) |  | — |  | (6,841) |  | 23,297 |  | (185) |  | (99,429) |  | (103,821) |  | 29,208
Balances at December 31 |  | 378,896 |  | 193,247 |  | 94,143 |  | 21,100 |  | 2,704,561 |  | 363,347 |  | 49,695 |  | 3,804,989 |  | 3,406,333 |  | 3,090,365
Accumulated amortization - |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at January 1 |  | 257,580 |  | 120,425 |  | 7,072 |  | 16,703 |  | 1,513,340 |  | — |  | 26,841 |  | 1,941,961 |  | 1,747,475 |  | 1,464,894
Amortization of the year |  | 27,229 |  | 7,041 |  | 4,396 |  | 3,516 |  | 266,338 |  | — |  | 446 |  | 308,966 |  | 258,984 |  | 241,080
Acquisition of business, Note 2(a) |  | — |  | — |  | — |  | — |  | 3,104 |  | — |  | — |  | 3,104 |  | — |  | —
Disposals and others |  | (40,858) |  | (66,823) |  | 973 |  | — |  | (8,599) |  | — |  | — |  | (115,307) |  | (64,498) |  | 41,501
Balance at December 31 |  | 243,951 |  | 60,643 |  | 12,441 |  | 20,219 |  | 1,774,183 |  | — |  | 27,287 |  | 2,138,724 |  | 1,941,961 |  | 1,747,475
Net carrying amount |  | 134,945 |  | 132,604 |  | 81,702 |  | 881 |  | 930,378 |  | 363,347 |  | 22,408 |  | 1,666,265 |  | 1,464,372 |  | 1,342,890
Schedule of detailed information about client relationships intangible assets | This item consists of the following:
|  | 2019 |  | 2018
|  | S/(000) |  | S/(000)
Prima AFP - AFP Unión Vida |  | 82,322 |  | 94,670
Credicorp Capital Holding Chile - Inversiones IMT |  | 19,333 |  | 22,776
Mibanco |  | 15,036 |  | 27,065
Ultraserfinco |  | 13,400 |  | —
Culqi |  | 2,550 |  | —
Tenpo |  | 2,304 |  | —
Mibanco - Edyficar Perú |  | — |  | 1,516
Net carrying amount |  | 134,945 |  | 146,027
Schedule of detailed information about brand intangible assets | This item consists of the following:
|  | 2019 |  | 2018
|  | S/(000) |  | S/(000)
Mibanco |  | 131,440 |  | 138,268
Culqi |  | 1,164 |  | —
Credicorp Capital Holding Chile - Inversiones IMT |  | — |  | 235
Net carrying amount |  | 132,604 |  | 138,503
Schedule of detailed information about fund manager contract intangible assets | This item consists of the following:
|  | 2019 |  | 2018
|  | S/(000) |  | S/(000)
Credicorp Capital Colombia |  | 42,352 |  | 47,886
Credicorp Capital Holding Chile - Inversiones IMT |  | 34,997 |  | 40,569
Ultrasefinco S.A. |  | 4,353 |  | —
Net carrying amount |  | 81,702 |  | 88,455
Schedule of reconciliation of changes in goodwill | Goodwill acquired through business combinations has been allocated to each subsidiary or groups of them, which are also identified as a CGU for the purposes of impairment testing, as follows:
|  | 2019 |  | 2018
|  | S/(000) |  | S/(000)
Mibanco - Edyficar Perú |  | 273,694 |  | 273,694
Banco Compartir S.A. |  | 212,085 |  | —
Prima AFP - AFP Unión Vida |  | 124,641 |  | 124,641
Credicorp Capital Colombia |  | 72,134 |  | 74,391
Banco de Crédito del Perú |  | 52,359 |  | 52,359
Ultraserfinco S.A. |  | 45,339 |  | —
Pacífico Seguros |  | 36,354 |  | 36,354
Atlantic Security Holding Corporation |  | 29,795 |  | 29,795
Tenpo SpA |  | 23,051 |  | —
Multicaja Prepago S.A. |  | 12,943 |  | —
Compañía Incubadora de Soluciones Móviles S.A. |  | 3,518 |  | —
Crediseguro Seguros Personales |  | 96 |  | 96
Net carrying amount |  | 886,009 |  | 591,330
Summary of key assumptions used for calculation of fair value less selling costs | The following table summarizes the key assumptions used for the calculation of fair value less selling costs in 2019 and 2018:
|  | At December 31, 2019
|  | Terminal |  |
|  | value growth |  |
Description |  | rate |  | Discount rate
|  | % |  | %
Mibanco - Edyficar Perú |  | 3.00 |  | 12.35
Prima AFP - AFP Unión Vida |  | 1.00 |  | 11.63
Credicorp Capital Colombia |  | 3.80 |  | 12.62
Banco de Crédito del Perú |  | 5.00 |  | 11.19
Pacífico Seguros (*) |  | 5.00 |  | 10.72 and 12.00
Atlantic Security Holding Corporation |  | 2.00 |  | 11.41
|  | At December 31, 2018
Description |  | Terminal |  |
|  | value growth |  |
|  | rate |  | Discount rate
|  | % |  | %
Mibanco - Edyficar Perú |  | 3.00 |  | 14.18
Prima AFP - AFP Unión Vida |  | 1.00 |  | 10.73
Credicorp Capital Colombia |  | 3.80 |  | 14.65
Banco de Crédito del Perú |  | 5.00 |  | 11.15
Pacífico Seguros (*) |  | 5.00 |  | 12.05 and 14.00
Atlantic Security Holding Corporation |  | 2.00 |  | 10.07
(*)As of December 31, 2019 and 2018, corresponds to the discount rates used to determine the recoverable value for the general and life insurance business lines cash flows.

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