SLIDE 1
1
July July 10 10th
th, 2020
, 2020
Con
- nfer
feren ence ce Call ll and nd Webcast
2020 Impairment Test
Gabriel Moura
Chief Executive Officer
Claudia Labbé
Head of Investor Relations
2
“acquisition method”
2.4 2.4 4.2 4.2
Activos Netos Valor de Mercado
4.2 4.2 2,4 2,4
Valor de Patrimonio
0,3 1,5 USD Bi D Bi
In In acc ccorda
- rdance to
nce to IFRS IFRS 3, 3, business c business com
- mbina
binations tions are are ac acco count unted ed for for using the using the
Activos Netos Goodwill Intangibles
Initiatives taken by the Chilean government A reverse acquisition in accordance to IFRS 3
Business combination
- In Legal Day 1, Corpbanca was
valued at market prices as of March/16
- The difference between the
market price and the net asset value was recognized in the balance sheet as intangible assets due to business combination and goodwill, increasing equity value
Accoun Accountin ting g im impact pact at LD1 at LD1 Accoun Accountin ting g im impact pact pos post-LD1 LD1
- Intangible assets (e.g., trademark, customer relationships) are amortized
- Intangibles and goodwill are tested for impairment
Go Goodw
- dwill
ill and and intangibl intangibles es constit constituted uted at at share share pri price ce
- f
- f CLP
CLP 5.8 5.80 with no with no imp impac act t on
- n
earnings, li earnings, liquidit quidity and and Ba Basel sel III III ca capit pital al
Imp Impair airment ment losses losses are are rec ecog
- gnized
nized in in th the e income income statement statement