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116 • Republic Bank (Grenada) Limited 2025 Annual Report • FINANCIALS
Notes to the Financial Statements
For the year ended September 30, 2025. Expressed in Thousands of Eastern Caribbean dollars ($’000), except where otherwise stated.
8 Intangible assets (continued)
a Goodwill
2025 2024
Goodwill on acquisition brought and carried forward 54,412 54,412
Goodwill arising from business combinations was primarily generated from the acquisition of of Scotiabank Grenada
branches.
Impairment testing of goodwill
In accordance with IFRS 3, all assets that gave rise to goodwill were reviewed for impairment using the ‘value in use’
method. In each case, the cash flow projections are based on financial budgets approved by senior management and the
values assigned to key assumptions reflects past performance.
b Core deposits
2025 2024
Cost
At beginning and end of year 7,560 7,560
Accumulated amortisation
At beginning of year 5,467 4,355
Amortisation – Note 15 (d) 616 1,112
At end of year 6,083 5,467
Net book value 1,477 2,093
Core deposit intangibles have been determined to have a life of 8.5 years for savings and demand and 5 years for term
deposits from acquisition date.
