Business Combinations

12 Months Ended

Dec. 31, 2021

Disclosure of detailed information about business combination [abstract]

14	BUSINESS COMBINATIONS

On October 1, 2021, the Bank exercised a call option to reach 24.99% of the equity interest in Fintech SGR, being this a structured entity in which the

ank has control (see also note 1 and 3 item “consolidation basis”).

Assets acquired and liabilities assumed

The fair

value

of the identifiable assets and liabilities of Fintech SGR and the risk fund (“Fondo de Riesgo”), as of the date of acquisition, were as follows (figures stated in terms of purchasing power at the acquisition date):


Composition	Fair value recognized on acquisition
Composition	SGR		Risk fund
Assets		59,361		859,015
Cash and deposits in Banks		250		92,780
Debt Securities at fair value through profit or loss				622,174
Other financial assets		39,571		143,660
Property, plant and equipment		569
Deferred tax assets		3,965
Other non-financial assets		15,006		401
Liabilities		50,195		859,015
Other financial liabilities				851,420
Other non-financial liabilities		50,195		7,595
Net assets acquired at fair value		9,166

The goodwill generated by the acquisition of Fintech SGR arising from the acquisition date amounted to

22,824

(not restated).

The total consideration transferred amounted to 33,488 (not restated) and it was

performed through an irrevocable capital contribution made by the Bank in order to increase the capital stock of Fintech SGR, which was approved by the Fintech SGR’s Ordinary and Special Shareholders’ Meeting involving class “A” and class “B”, held on October 18, 2021.