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INTANGIBLE ASSETS AND GOODWILL, NET (Tables) | 12 Months Ended
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Dec. 31, 2021
INTANGIBLE ASSETS AND GOODWILL, NET [Abstract] |
Movement of Intangible Assets With Useful Life | The movement of intangible assets with limited useful life for the years ended December 31, 2021, 2020 and 2019 was as follows:
Description |  | Client relationships (i) |  |  | Brand name (ii) |  |  | Fund manager contract (iii) |  |  | Relationships with holders |  |  | Software and developments |  |  | Intangible in progress |  |  | Other |  |  | 2021 |  |  | 2020 |  |  | 2019 |
|  | 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 |  |  | 384,521 |  |  |  | 171,864 |  |  |  | 103,700 |  |  |  | 21,100 |  |  |  | 3,014,099 |  |  |  | 550,639 |  |  |  | 47,941 |  |  |  | 4,293,864 |  |  |  | 3,804,989 |  |  |  | 3,406,333 |
Additions |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | 104,890 |  |  |  | 427,354 |  |  |  | – |  |  |  | 532,244 |  |  |  | 535,241 |  |  |  | 371,957 |
Acquisition of business, Note 2(a) |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | 126,128 |
Transfers |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | 283,263 |  |  |  | (283,263 | ) |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |
Disposals and others |  |  | (4,108 | ) |  |  | – |  |  |  | (8,322 | ) |  |  | – |  |  |  | (42,257 | ) |  |  | (37,818 | ) |  |  | (25,298 | ) |  |  | (117,803 | ) |  |  | (46,366 | ) |  |  | (99,429 | )
Balance as of December 31 |  |  | 380,413 |  |  |  | 171,864 |  |  |  | 95,378 |  |  |  | 21,100 |  |  |  | 3,359,995 |  |  |  | 656,912 |  |  |  | 22,643 |  |  |  | 4,708,305 |  |  |  | 4,293,864 |  |  |  | 3,804,989 |
Accumulated amortization - |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at January 1 |  |  | 273,968 |  |  |  | 46,479 |  |  |  | 19,369 |  |  |  | 21,100 |  |  |  | 2,082,795 |  |  |  | – |  |  |  | 31,755 |  |  |  | 2,475,466 |  |  |  | 2,138,724 |  |  |  | 1,941,961 |
Amortization of the period |  |  | 18,601 |  |  |  | 7,061 |  |  |  | 4,434 |  |  |  | – |  |  |  | 347,359 |  |  |  | – |  |  |  | 4,339 |  |  |  | 381,794 |  |  |  | 355,818 |  |  |  | 308,966 |
Acquisition of business, Note 2(a) |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | 3,104 |
Disposals and others |  |  | (1,378 | ) |  |  | – |  |  |  | (1,858 | ) |  |  | – |  |  |  | (31,385 | ) |  |  | – |  |  |  | (27,555 | ) |  |  | (62,176 | ) |  |  | (19,076 | ) |  |  | (115,307 | )
Balance as of December 31 |  |  | 291,191 |  |  |  | 53,540 |  |  |  | 21,945 |  |  |  | 21,100 |  |  |  | 2,398,769 |  |  |  | – |  |  |  | 8,539 |  |  |  | 2,795,084 |  |  |  | 2,475,466 |  |  |  | 2,138,724 |
Net carrying amount |  |  | 89,222 |  |  |  | 118,324 |  |  |  | 73,433 |  |  |  | – |  |  |  | 961,226 |  |  |  | 656,912 |  |  |  | 14,104 |  |  |  | 1,913,221 |  |  |  | 1,818,398 |  |  |  | 1,666,265 |
Client Relationships Intangible Assets | This item consists of the following:
|  | 2021 |  |  | 2020 |
|  | S/(000) |  |  | S/(000) |
Prima AFP - AFP Unión Vida |  |  | 57,613 |  |  |  | 69,974 |
Credicorp Capital Holding Chile - Inversiones IMT |  |  | 17,679 |  |  |  | 20,782 |
Ultraserfinco |  |  | 10,148 |  |  |  | 12,592 |
Tenpo |  |  | 1,930 |  |  |  | 2,031 |
Culqi |  |  | 1,852 |  |  |  | 2,167 |
MiBanco |  |  | - |  |  |  | 3,007 |
Net carrying amount |  |  | 89,222 |  |  |  | 110,553 |
Brand Intangible Assets | This item consists of the following:
|  | 2021 |  |  | 2019 |
|  | S/(000) |  |  | S/(000) |
MiBanco |  |  | 117,670 |  |  |  | 124,610 |
Culqi |  |  | 654 |  |  |  | 775 |
Net carrying amount |  |  | 118,324 |  |  |  | 125,385 |
Fund Manager Contract Intangible Assets | This item consists of the following:
|  | 2021 |  |  | 2020 |
|  | S/(000) |  |  | S/(000) |
Credicorp Capital Colombia |  |  | 36,724 |  |  |  | 42,328 |
Credicorp Capital Holding Chile - Inversiones IMT |  |  | 33,717 |  |  |  | 38,553 |
Ultrasefinco S.A. |  |  | 2,992 |  |  |  | 3,450 |
Net carrying amount |  |  | 73,433 |  |  |  | 84,331 |
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:
|  | 2021 |  |  | 2020 |
|  | S/(000) |  |  | S/(000) |
MiBanco - Edyficar Perú |  |  | 273,694 |  |  |  | 273,694 |
MiBanco Colombia (antes Bancompartir) |  |  | 124,746 |  |  |  | 135,658 |
Prima AFP - AFP Unión Vida |  |  | 124,641 |  |  |  | 124,641 |
Credicorp Capital Colombia |  |  | 114,714 |  |  |  | 124,447 |
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 |  |  | 24,444 |  |  |  | 26,602 |
Tenpo Prepago S.A. (before “Multicaja Prepago S.A.”) |  |  | 13,719 |  |  |  | 14,956 |
Compañía Incubadora de Soluciones Móviles S.A-Culqi |  |  | 2,297 |  |  |  | 2,297 |
Crediseguro Seguros Personales |  |  | 96 |  |  |  | 96 |
Net carrying amount |  |  | 796,859 |  |  |  | 820,899 |
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 fewer selling costs in 2021 and 2020:
|  | 2021 |
Description |  | Terminal value growth rate |  |  | Discount rate |
|  | % |  |  | % |
MiBanco - Edyficar Perú |  |  | 3.00 |  |  |  | 11.78 |
Prima AFP - AFP Unión Vida |  |  | 1.00 |  |  |  | 12.62 |
Credicorp Capital Colombia |  |  | 3.80 |  |  |  | 12.90 |
Banco de Crédito del Perú |  |  | 5.00 |  |  |  | 10.76 |
Pacífico Seguros (*) |  |  | 5.00 |  |  | 10.29 and 11.07 |
Atlantic Security Holding Corporation |  |  | 2.00 |  |  |  | 11.00 |
Mibanco Colombia - Bancompartir |  |  | 4.00 |  |  |  | 13.05 |
Tenpo |  |  | 2.00 |  |  |  | 25.00 |
Compañía Incubadora de Soluciones Móviles S.A. - Culqi |  |  | 2.00 |  |  |  | 25.00 |
|  | 2020 |
Description |  | Terminal value growth 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 |
(*) As of December 31, 2021 and 2020, 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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