| The changes in the value of intangible assets during the periods ended December 31, 2017 and December 31, 2016 is as follows: |
b.1) Gross balance
| Gross balances | Licenses | Software development | Total |
| MCh$ | MCh$ | MCh$ | |
| Balances as of January 1, 2017 | 10,932 | 286,781 | 297,713 |
| Acquisitions | - | 32,624 | 32,624 |
| Disposals and impairment | - | (5,290) | (5,290) |
| Other | - | - | - |
| Balances as of December 31, 2017 | 10,932 | 314,115 | 325,047 |
| Balances as of January 1, 2016 | 10,932 | 259,500 | 270,432 |
| Acquisitions | - | 27,281 | 27,281 |
| Disposals and impairment | - | - | - |
| Other | - | - | - |
| Balances as of December 31, 2016 | 10,932 | 286,781 | 297,713 |
b.2) Accumulated amortization
Accumulated amortization |
Licenses | Software development | Total |
| MCh$ | MCh$ | MCh$ | |
| Balances as of January 1, 2017 | (9,276) | (230,352) | (239,628) |
| Year’s amortization | (456) | (21,744) | (22,200) |
| Other changes | - | - | - |
| Balances as of December 31, 2017 | (9,732) | (252,096) | (261,828) |
| Balances as of January 1, 2016 | (8,872) | (210,423) | (219,295) |
| Year’s amortization | (404) | (19,929) | (20,333) |
| Other changes | - | - | - |
| Balances as of December 31, 2016 | (9,276) | (230,352) | (239,628) |