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INTANGIBLE ASSETS AND GOODWILL, NET (Tables) | 12 Months Ended
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Dec. 31, 2020
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, 2020, 2019 and 2018 was as follows:
|  | Client |  |  |  | Fund |  |  |  |  |  | Intangible |  |  |  |  |  |  |  |
|  | relationships |  | Brand |  | manager |  | Relationships |  | Software and |  | in |  |  |  |  |  |  |  |
Description |  | (i) |  | name (ii) |  | contract (iii) |  | with holders |  | developments |  | progress |  | Other |  | 2020 |  | 2019 |  | 2018
|  | 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 |  | 378,896 |  | 193,247 |  | 94,143 |  | 21,100 |  | 2,702,983 |  | 364,925 |  | 49,695 |  | 3,804,989 |  | 3,406,333 |  | 3,090,365
Additions |  | — |  | — |  | — |  | — |  | 91,652 |  | 443,557 |  | 32 |  | 535,241 |  | 371,957 |  | 419,789
Acquisition of business, Note 2(a) |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | 126,128 |  | —
Transfers |  | — |  | — |  | — |  | — |  | 230,477 |  | (230,477) |  | — |  | — |  | — |  | —
Disposals and others |  | 5,625 |  | (21,383) |  | 9,557 |  | — |  | (11,013) |  | (27,366) |  | (1,786) |  | (46,366) |  | (99,429) |  | (103,821)
Balances at December 31 |  | 384,521 |  | 171,864 |  | 103,700 |  | 21,100 |  | 3,014,099 |  | 550,639 |  | 47,941 |  | 4,293,864 |  | 3,804,989 |  | 3,406,333
Accumulated amortization - |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at January 1 |  | 243,951 |  | 60,643 |  | 12,441 |  | 20,219 |  | 1,774,183 |  | — |  | 27,287 |  | 2,138,724 |  | 1,941,961 |  | 1,747,475
Amortization of the year |  | 27,699 |  | 7,062 |  | 4,502 |  | 881 |  | 312,163 |  | — |  | 3,511 |  | 355,818 |  | 308,966 |  | 258,984
Acquisition of business, Note 2(a) |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | 3,104 |  | —
Disposals and others |  | 2,318 |  | (21,226) |  | 2,426 |  | — |  | (3,551) |  | — |  | 957 |  | (19,076) |  | (115,307) |  | (64,498)
Balance at December 31 |  | 273,968 |  | 46,479 |  | 19,369 |  | 21,100 |  | 2,082,795 |  | — |  | 31,755 |  | 2,475,466 |  | 2,138,724 |  | 1,941,961
Net carrying amount |  | 110,553 |  | 125,385 |  | 84,331 |  | — |  | 931,304 |  | 550,639 |  | 16,186 |  | 1,818,398 |  | 1,666,265 |  | 1,464,372
Schedule of detailed information about client relationships intangible assets | This item consists of the following:
|  | 2020 |  | 2019
|  | S/(000) |  | S/(000)
Prima AFP - AFP Unión Vida |  | 69,974 |  | 82,322
Credicorp Capital Holding Chile - Inversiones IMT |  | 20,782 |  | 19,333
Mibanco |  | 3,007 |  | 15,036
Ultraserfinco |  | 12,592 |  | 13,400
Culqi |  | 2,167 |  | 2,550
Tenpo |  | 2,031 |  | 2,304
Net carrying amount |  | 110,553 |  | 134,945
Schedule of detailed information about brand intangible assets | This item consists of the following:
|  | 2020 |  | 2019
|  | S/(000) |  | S/(000)
Mibanco |  | 124,610 |  | 131,440
Culqi |  | 775 |  | 1,164
Net carrying amount |  | 125,385 |  | 132,604
Schedule of detailed information about fund manager contract intangible assets | This item consists of the following:
|  | 2020 |  | 2019
|  | S/(000) |  | S/(000)
Credicorp Capital Colombia |  | 42,328 |  | 42,352
Credicorp Capital Holding Chile - Inversiones IMT |  | 38,553 |  | 34,997
Ultrasefinco S.A. |  | 3,450 |  | 4,353
Net carrying amount |  | 84,331 |  | 81,702
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:
|  | 2020 |  | 2019
|  | S/(000) |  | S/(000)
Mibanco - Edyficar Perú |  | 273,694 |  | 273,694
MiBanco Colombia - Banco Compartir S.A. |  | 135,658 |  | 191,898
Prima AFP - AFP Unión Vida |  | 124,641 |  | 124,641
Credicorp Capital Colombia (*) |  | 124,447 |  | 72,134
Banco de Crédito del Perú |  | 52,359 |  | 52,359
Pacífico Seguros |  | 36,354 |  | 36,354
Atlantic Security Holding Corporation |  | 29,795 |  | 29,795
Tenpo SpA |  | 26,602 |  | 23,051
Tenpo Prepago S.A. (before "Multicaja Prepago S.A.") |  | 14,956 |  | 12,943
Compañía Incubadora de Soluciones Móviles S.A-Culqi |  | 2,297 |  | 3,518
Crediseguro Seguros Personales |  | 96 |  | 96
Ultraserfinco S.A. (*) |  | — |  | 45,339
Net carrying amount |  | 820,899 |  | 865,822
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 2020 and 2019:
|  | 2020
|  | Terminal |  |
|  | value growth |  |
Description |  | rate |  | Discount rate
|  | % |  | %
Mibanco - Edyficar Perú |  | 3.00 |  | 12.19
Prima AFP - AFP Unión Vida |  | 1.00 |  | 11.43
Credicorp Capital Colombia |  | 3.80 |  | 12.62
Banco de Crédito del Perú |  | 5.00 |  | 10.93
Pacífico Seguros (*) |  | 5.00 |  | 10.44 and 11.81
Atlantic Security Holding Corporation |  | 2.00 |  | 11.29
Mibanco Colombia - Bancompartir |  | 4.00 |  | 13.20
Tenpo |  | 5.00 |  | 25.00
Compañía Incubadora de Soluciones Móviles S.A. - Culqi |  | 5.00 |  | 25.00
|  | 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
(*)As of December 31, 2020 and 2019, it corresponds to the discount rates used to determine the recoverable value of the cash flows that correspond to the general and life insurance business lines.

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