GENERAL MEETING DRAFT - Bankier.pl

Core Deposits
The value of the relationship connected to Core Deposits depends on the fact that part of a bank’s shortterm
deposits (current accounts and savings deposits) and current account overdrafts remains on these
accounts for significant periods of time.
The economic life of the relationship is longer than their contractual term. The spread between the actual
cost of the deposits included in the Core Deposits and the cost of the deposits at interbank market rates
(so-called mark-down) represents the most significant value component associated with this intangible
asset. The income levels used to determine the fair value of Core Deposits, a commission component
that contributes to the total income generated by the relationship, is also considered.
The fair value of this asset is determined by discounting the flows representing the income margins
generated by the deposits for a term that expresses the remaining life of the relationships existing at the
date of acquisition. As finite term assets, the relative value is amortized at constant rates in relation to the
period associated with the asset’s expected economic benefits.
The average residual useful life of Core Deposits is 22 years.
Customer Relationships
Assets Under Management (AUM)
The value of this intangible derives mainly from the Company's ability to obtain a return from the
placement of asset management products with its customers.
The income flows used for the first recording of the valuation of this asset are:
� for the placing banks, commission retrocessions from the product issuers
� for the product issuers, commissions received from customers net of commission expenses,
retroceded mainly to the placing banks.
Such commissions were considered recurrent because they are linked to Assets Under Management held
by customers.
The average residual useful life of these intangible assets is 22 years.
Asset Under Custody (AUC)
The value of this intangible derives mainly from the Company's ability to obtain a return from deposits
administered on behalf of customers.
Income flows used for the first recording of the valuation of this item were the commissions received for
managing assets under administration. Such commissions were classified as recurrent because they are
generated by the ordinary business of customers regarding their portfolios.
The average residual useful life of these intangible assets is 11 years.
Life Insurance
The value of this intangible derives mainly from the Company's ability to obtain a return from the
placement of Bancassurance products with its customers.
The income flows used for the first recording of the valuation of this asset were the commissions received
for conducting Bancassurance business. These commissions were considered recurrent as comparable,
from the viewpoint of the investor, to management or custody of assets.
The average residual useful life of these intangible assets is 27 years.
Products
The value of this intangible asset is derived from income generated by trading conducted on behalf of the
SGR of the Group. The income flows used for the first recording of the valuation were the commissions
received for brokerage on behalf of the SGR. These were considered recurrent because they are
generated by the ordinary operating of the funds in which customer savings are invested.
Also, in some cases, the asset value is attributable to the commissions received for disbursement of
regional incentives.
The average residual useful life of these intangible assets is 6 years.
2009 CONSOLIDATED REPORTS AND ACCOUNTS
258