Comprise internally developed and acquired software licenses used by the Group. Acquired software licenses are measured on initial recognition at cost and are amortized using the straight-line method over their estimated useful life (between 3 and 5 years).
Intangible assets identified as a consequence of the acquisition of subsidiaries are recognized in the consolidated statement of financial position at their fair values determined on the acquisition date and are amortized using the straight line method over their estimated useful life as follows:
| | Estimated useful |
| | life in years |
| Client relationship - Prima AFP (AFP Unión Vida) | 20 |
| Client relationship - Inversiones IMT S.A. | 22 |
| Client relationship cash, fixed and variable income - Credicorp Capital Colombia | 5 |
| Client relationship APT - Credicorp Capital Colombia | 5 |
| Client relationship - Edyficar Peru | 10 |
| Client relationship – Mibanco | 7 |
| Brand - Mibanco | 25 |
| Brand - Credicorp Capital Colombia | 5 |
| Brand - Inversiones IMT S.A. | 5 |
| Fund manager contract - Credicorp Capital Colombia | 28 |
| Fund manager contract - Inversiones IMT S.A. | 11 |
| Core deposits - Mibanco | 6 |
| Right of use - BCP | 5 |
| Others | 5 |
The period and the amortization method, for intangible assets are reviewed at the end of each period. If the expected useful life differs from previous estimates, the amortization period will be changed to reflect this change. If there has been a change in the expected pattern of conduct of the future economic benefits embodied in the asset, the amortization method shall be amended to reflect these changes.
Gains or losses arising from de-recognition of an intangible asset are measured as the difference between the net disposal proceeds and the carrying amount of the asset and are recognized in the consolidated statement of income when the asset is derecognized.
