v3.26.1
INTANGIBLE ASSETS AND GOODWILL, NET
 12 Months Ended
Dec. 31, 2025
Disclosure of detailed information about intangible assets [abstract]  
INTANGIBLE ASSETS AND GOODWILL, NET INTANGIBLE ASSETS AND GOODWILL, NET
a)    Intangible assets –
The composition of intangible assets with limited useful life and accumulated amortization as of December 31, 2025, 2024 and 2023 was as follows:
DescriptionClient
relationships
(i)		Brand
name (ii)		Fund
manager
contract (iii)		Relationships
with holders		Software, Prepaid service contract and others Intangible
in
progress		202520242023
S/(000)S/(000)S/(000)S/(000)S/(000)S/(000)S/(000)S/(000)S/(000)
Cost -
Balance at January 1
372,009 175,321 69,541 21,100 5,179,719 608,747 6,426,437 5,861,379 5,167,235 
Additions- - - - 556,945 427,026 983,971 801,290 828,803 
Acquisition of business, Note 2(a) (*)293,800 365,372 - - 32,707 16,728 708,607 - 16,642 
Transfers- - - - 277,464 (277,464)- - - 
Disposals and others (**)(22,869)- 999 - (80,607)(107,919)(210,396)(236,232)(151,301)
Balance as of December 31642,940 540,693 70,540 21,100 5,966,228 667,118 7,908,619 6,426,437 5,861,379 
Accumulated amortization -
Balance at January 1
332,464 72,666 18,162 21,100 3,415,249 - 3,859,641 3,434,362 3,040,019 
Amortization of the period
16,152 9,235 3,656 - 585,729 - 614,772 482,894 436,584 
Disposals and others (**)(22,618)- - - (54,712)- (77,330)(57,615)(42,241)
Balance as of December 31325,998 81,901 21,818 21,100 3,946,266 - 4,397,083 3,859,641 3,434,362 
Net carrying amount316,942 458,792 48,722 - 2,019,962 667,118 3,511,536 2,566,796 2,427,017 
During 2025, 2024 and 2023, the Group, as part of its investment in intangible assets, incurred expenditures mainly related to the development, acquisition, and strengthening of these assets.

The Group maintains insurance coverage over its main assets in accordance with the policies established by Management.
Management also periodically reviews the residual value, useful life, and amortization method applied to intangible assets in order to ensure that they are consistent with the expected economic benefits and their estimated useful lives. In the opinion of the Group’s Management, there is no evidence of impairment of the value of the intangible assets held as of December 31, 2025, December 31, 2024, and December 31, 2023.
As a result of the implementation of IFRS 17, amortization expense related to intangible assets is allocated in the consolidated statement of income between the amortization line item and the attributable expense included in insurance technical results, amounting to S/564.8 million and S/50.0 million, respectively, for the year 2025; S/420.9 million and S/62.0 million, respectively, for the year 2024; and S/386.1 million and S/50.5 million, respectively, for the year 2023.
(*) The increase is due to the acquisition of Pacífico EPS and Subsidiaries in March 2025; see Note 2(a).
(**) Includes transactions related to the sale, retirement and other disposals of intangible assets that are no longer required for the Group’s operations.
(i)    Client relationships -
This item consists of the following:
20252024
S/(000)S/(000)
Pacifico S.A. Entidad Prestadora de Salud 77,642 — 
Laboratorios ROE S.A 63,708 — 
Clínica San Felipe S.A. 31,350 — 
Centro Médico Odontológico Americano S.A.C21,633 — 
Clínica Sanchez Ferrer S.A 21,450 — 
Oncocare S.A.C17,692 — 
La esperanza del Perú S. A14,575 — 
Clínica Belén12,283 — 
Clínica del Sur 11,550 — 
Credicorp Capital Holding Chile - Inversiones IMT9,626 10,892 
Prosemedic S.A.C 9,167 — 
Prima AFP – AFP Unión Vida8,567 20,813 
Clínica el Golf 7,517 — 
Ultraserfinco S.A3,950 5,049 
Tenpo Bank3,203 — 
Doctor + S.A.C1,283 — 
Compañía Incubadora de Soluciones Móviles S.A.- Culqi1,000 1,467 
Tenpo SpA746 1,011 
Joinnus— 313 
316,942 39,545 
(ii)    Brand name -
This item consists of the following:
20252024
S/(000)S/(000)
ROE111,100 — 
Mibanco90,612 99,437 
Clinica San Felipe 48,100 — 
Clinica San Borja39,000 — 
Sanna23,271 — 
Clínica el Golf 22,300 — 
Doctor Más 20,700 — 
ACML20,400 — 
Aliada20,100 — 
Clinica Belén 14,100 — 
COA13,800 — 
Clínica Sanchez Ferrer12,800 — 
Clínica del Sur 10,300 — 
PMD 9,400 — 
Joinnus2,809 3,155 
Culqi— 63 
458,792 102,655 
(iii)    Fund management contract -
This item consists of the following:
20252024
S/(000)S/(000)
Credicorp Capital Colombia S.A.25,113 23,183 
Credicorp Capital Holding Chile - Inversiones IMT21,532 26,071 
Ultrasefinco S.A.2,077 2,125 
48,722 51,379 
b)    Goodwill -
Goodwill acquired through business combinations has been allocated to each subsidiary or groups of them, which are also identified as a CGUs for the purposes of impairment testing.
20252024
S/(000)S/(000)
Pacífico EPS and Medical Services, see Note 2 528,499 — 
Mibanco - Edyficar Perú273,694 273,694 
Prima AFP - AFP S.A124,641 124,641 
Credicorp Capital Colombia S.A104,031 99,841 
Banco de Crédito del Perú52,359 52,359 
Mibanco Colombia46,134 44,229 
Pacífico Seguros36,354 36,354 
Atlantic Security Holding Corporation29,795 29,795 
Monokera S.A.S.22,656 22,656 
Tenpo SpA20,666 20,927 
Tenpo Technologies SpA9,798 9,945 
Joinnus S.A.C.4,135 7,824 
Crediseguro Seguros Personales96 96 
Net carrying amount1,252,858 722,361 
The recoverable amount of all of the CGUs has been determined based on the present value of the discounted cash flows or dividends determined principally with assumptions of revenue and expenses projection (based on efficiency ratios).
Goodwill balance of Mibanco Colombia, Credicorp Capital Colombia S.A, Tenpo SPA and Tenpo Technologies SpA. is affected by the effect of the local exchange rate currency of the country in which they operate against the exchange rate of functional currency of Credicorp Ltd. and subsidiaries.
For the year 2025, the Group performed an assessment of goodwill impairment and concluded that there was no indication of impairment. Accordingly, the Group did not recognize any goodwill impairment loss.
For the year 2024, the Group recorded an impairment in the following companies: Joinnus S.A. for S/12.0 million, Wally POS S.A.C for S/9.0 million, Sami Shop for S/4.0 million and Compañía Incubadora de Soluciones Móviles S.A. for S/2.3 million.
The following table summarizes the key assumptions used for the calculation of fair value fewer selling costs in 2025 and 2024:
2025
DescriptionPerpetual
growth
rate		Discount rate
%%
Mibanco - Edyficar Perú5.60 10.60 
Prima AFP - AFP Unión Vida1.60 14.50 
Credicorp Capital Colombia3.80 14.40 
Banco de Crédito del Perú4.60 9.60 
Mibanco Colombia5.90 12.30 
Pacífico Seguros (*)4.60 
9.90 and 11.30
Atlantic Security Holding Corporation3.00 11.40 
Monokera S.A.S.- 30.00 
Tenpo- 25.00 
Joinnus S.A.C.- 25.00 
2024
DescriptionPerpetual
growth
rate		Discount rate
%%
Mibanco - Edyficar Perú5.60 11.90 
Prima AFP - AFP Unión Vida1.60 14.20 
Credicorp Capital Colombia3.80 14.40 
Banco de Crédito del Perú4.60 10.90 
Mibanco Colombia6.10 13.80 
Pacífico Seguros (*)4.60 
10.70 and 12.30
Atlantic Security Holding Corporation2.30 11.30 
Monokera– 30.00 
Tenpo– 25.00 
Joinnus S.A.C– 25.00 
Compañía Incubadora de Soluciones Móviles S.A - Culqi– 30.00 
Wally POS S.A.C- 25.00 
Sami Shop S.A.C- 25.00 
(*) As of December 31, 2025, and 2024, 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.
Five years of cash flows, depending on the business maturity, were included in the discounted cash flow model. The growth rate estimates are based on historic performance and management’s expectations of market development. A long-term growth rate to perpetuity has been determined taking into account forecasts included in industry reports.
Discount rates represent the current market assessment of the specific risks to each CGU. The discount rate is derived from the capital asset pricing model (CAPM). The cost of equity is derived from the expected return on investment by the Group’s investors, specific risk incorporated by applying individual comparable beta factors adjusted by the debt structure of each CGU and country and market specific risk premiums to each CGU. The beta factors are evaluated annually based on publicly available market data.
The key assumptions described above may change if market and economic conditions change. As of December 31, 2025 and 2024, the Group estimates that reasonably possible changes in these assumptions would not cause the recoverable amount of all CGUs to decline below their carrying amount.