Page 140 - RFHL ANNUAL REPORT 2024_ONLINE

138 Notes to the Consolidated Financial Statements
For the Year Ended September 30, 2024.
Expressed in millions of Trinidad and Tobago dollars, except where otherwise stated.

9. Intangible assets (continued)
a Goodwill (continued)
Impairment testing of goodwill (continued)

The following table highlights the goodwill and key assumptions used in value in use calculations for each CGU:

Republic Republic Cayman
Bank Bank National Republic Republic
(Grenada) (Guyana) Corpor- Bank (EC) Bank (BVI)
Limited Limited ation Ltd. Limited Limited Total

Carrying amount of goodwill
(TT$ million) 67 94 371 125 179 836

Basis for recoverable amount Value Value Value Value Value
in use in use in use in use in use
Discount rate 12.7% 9.2% 8.5% 14.0% 8.5%
Cash flow projection term 5 yrs 5 yrs 5 yrs 5 yrs 5 yrs
Terminal growth rate 2.0% 4.0% 2.0% 1.7% 1.5%

b Other intangible assets with definite useful life

Core Trade Customer
deposits name base Total

Cost
At October 1, 2022 303 40 51 394
Acquisition of subsidiaries (22) – – (22)

At September 30, 2023 281 40 51 372
Exchange and other adjustments – – – –

At September 30, 2024 281 40 51 372

Amortisation
At October 1, 2022 136 29 19 184
Amortisation 30 8 8 46

At September 30, 2023 166 37 27 230
Amortisation 30 3 8 41

At September 30, 2024 196 40 35 271

Net book value
At September 30, 2023 115 3 24 142
At September 30, 2024 85 – 16 101

Core deposit intangibles acquired through business combinations in 2020 have been determined to have a life of 5 years
(savings and chequing deposits) and 8.5 years (time deposits) from acquisition date.