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Intangible Assets

12 Months Ended

Dec. 31, 2022

NOTE 10 - INTANGIBLE ASSETS

As of December 31, 2022 and 2021, the composition of intangible assets is as follows:

					As of December 31, 2022
	Average remaining useful life		Net opening balance as of January 1, 2021		Gross balance		Accumulated amortisation			Net balance
			MCh$		MCh$		MCh$			MCh$

Licenses				-		-		-			-
Software development		2		95,411		351,309		(243,520	)		107,789

Total				95,411		351,309		(243,520	)		107,789

					As of December 31, 2021
	Average remaining useful life		Net opening balance as of January 1, 2021		Gross balance		Accumulated amortisation			Net balance
			MCh$		MCh$		MCh$			MCh$

Licenses				-		-		-			-
Software development		2		82,537		294,745		(199,334	)		95,411

Total				82,537		294,745		(199,334	)		95,411

The changes in the value of intangible assets during the periods ended December 31, 2022 and December 31, 2021 is as follows:

Gross balance

Gross balances	Software development			Total
	MCh$			MCh$

Balances as of January 1, 2022		294,745			294,745
Acquisitions		54,899			54,899
Disposals and impairment		(145	)		(145	)
Other		1,810			1,810
Balances as of December 31, 2022		351,309			351,311

Balances as of January 1, 2021		284,534			284,534
Acquisitions		47,487			47,487
Disposals and impairment		(37,276	)		(37,276	)
Other		-			-
Balances as of December 31, 2021		294,745			294,745

ii.

Accumulated amortisation

Accumulated amortisation	Software development			Total
	MCh$			MCh$

Balances as of January 1, 2022		(199,334	)		(199,334	)
Year’s amortisation		(42,376	)		(42,376	)
Other changes		(1,810	)		(1,810	)
Balances as of December 31, 2022		(243,520	)		(243,520	)

Balances as of January 1, 2021		(201,997	)		(201,997	)
Year’s amortisation		(32,252	)		(32,252	)
Other changes		34,915			34,915
Balances as of December 31, 2021		(199,334	)		(199,334	)

The Bank has no restriction on intangible assets as of December 31, 2022 and 2021. Additionally, intangible assets have not been pledged as guarantee for fulfillment of financial liabilities, and the Bank has no debt related to Intangible assets as of those dates.