Document and Entity Information
Document and Entity Information | 12 Months Ended |
Dec. 31, 2017shares | |
Document And Entity Information | |
Entity Registrant Name | BANCO SANTANDER CHILE |
Entity Central Index Key | 1,027,552 |
Document Type | 20-F |
Trading symbol | BSAC |
Document Period End Date | Dec. 31, 2017 |
Amendment Flag | false |
Current Fiscal Year End Date | --12-31 |
Entity a Well-known Seasoned Issuer | Yes |
Entity a Voluntary Filer | No |
Entity's Reporting Status Current | Yes |
Entity Filer Category | Large Accelerated Filer |
Entity Common Stock, Shares Outstanding | 0 |
Document Fiscal Period Focus | FY |
Document Fiscal Year Focus | 2,017 |
CONSOLIDATED STATEMENTS OF FINA
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - CLP ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 | |
ASSETS | |||
Cash and deposits in banks | $ 1,452,922 | $ 2,279,389 | |
Cash items in process of collection | 668,145 | 495,283 | |
Trading investments | 485,736 | 396,987 | |
Investments under resale agreements | 6,736 | ||
Financial derivative contracts | 2,238,647 | 2,500,782 | |
Interbank loans, net | 162,213 | 268,672 | |
Loans and accounts receivable from customers, net | 26,772,544 | 26,147,154 | |
Available for sale investments | 2,574,546 | 3,388,906 | |
Investments in associates and other companies | [1] | 27,585 | 23,780 |
Intangible assets | 63,219 | 58,085 | |
Property, plant, and equipment | 242,547 | 257,379 | |
Deferred taxes | 371,091 | 359,600 | |
Other assets | 764,410 | 847,272 | |
TOTAL ASSETS | 35,823,605 | 37,030,025 | |
LIABILITIES | |||
Deposits and other demand liabilities | 7,768,166 | 7,539,315 | |
Cash items in process of being cleared | 486,726 | 288,473 | |
Obligations under repurchase agreements | 268,061 | 212,437 | |
Time deposits and other time liabilities | 11,913,945 | 13,151,709 | |
Financial derivative contracts | 2,139,488 | 2,292,161 | |
Interbank borrowings | 1,698,357 | 1,916,368 | |
Issued debt instruments | 709,365 | 7,326,372 | |
Other financial liabilities | 242,030 | 240,016 | |
Current taxes | 6,435 | 29,294 | |
Deferred taxes | 9,663 | 7,686 | |
Provisions | 303,798 | 292,210 | |
Other liabilities | 745,363 | 795,785 | |
TOTAL LIABILITIES | 32,675,685 | 34,091,826 | |
Attributable to the equity holders of the Bank: | |||
Capital | 891,303 | 891,303 | |
Reserves | 1,781,818 | 1,640,112 | |
Valuation adjustments | (2,312) | 6,640 | |
Retained earnings | |||
Retained earnings from prior years | 41,267 | 37,551 | |
Income for the year | 562,801 | 476,067 | |
Minus: Provision for mandatory dividends | (168,840) | (142,815) | |
Retained earnings | 435,228 | 370,803 | |
Attributable to the equity holders of the Bank | 3,106,037 | 2,908,858 | |
Non-controlling interest | 41,883 | 29,341 | |
TOTAL EQUITY | 3,147,920 | 2,938,199 | |
TOTAL LIABILITIES AND EQUITY | $ 35,823,605 | $ 37,030,025 | |
[1] | Investments in associates and other companies do not have market prices. |
CONSOLIDATED STATEMENTS OF INCO
CONSOLIDATED STATEMENTS OF INCOME - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
OPERATING INCOME | |||
Interest income | $ 2,058,446 | $ 2,137,044 | $ 2,085,988 |
Interest expense | (731,755) | (855,678) | (830,782) |
Net interest income | 1,326,691 | 1,281,366 | 1,255,206 |
Fee and commission income | 455,558 | 431,184 | 402,900 |
Fee and commission expense | (176,495) | (176,760) | (165,273) |
Net fee and commission income | 279,063 | 254,424 | 237,627 |
Net income (expense) from financial operations | 2,796 | (367,034) | (457,897) |
Net foreign exchange gain | 126,956 | 507,392 | 603,396 |
Other operating income | 62,016 | 6,427 | 6,439 |
Net operating profit before provision for loan losses | 1,797,522 | 1,682,575 | 1,644,771 |
Provision for loan losses | (302,255) | (342,083) | (399,277) |
NET OPERATING PROFIT | 1,495,267 | 1,340,492 | 1,245,494 |
Personnel salaries and expenses | (396,967) | (395,133) | (387,063) |
Administrative expenses | (230,103) | (226,413) | (220,531) |
Depreciation and amortization | (77,823) | (65,359) | (53,614) |
Impairment of property, plant, and equipment | (5,644) | (234) | (21) |
Other operating expenses | (68,413) | (68,902) | (58,729) |
Total operating expenses | (778,950) | (756,041) | (719,958) |
OPERATING INCOME | 716,317 | 584,451 | 525,536 |
Income from investments in associates and other companies | 3,963 | 3,012 | 2,588 |
Income before tax | 720,280 | 587,463 | 528,124 |
Income tax expense | (145,031) | (109,031) | (76,395) |
NET INCOME FOR THE YEAR | 575,249 | 478,432 | 451,729 |
Attributable to: | |||
Equity holders of the Bank | 562,801 | 476,067 | 448,466 |
Non-controlling interest | $ 12,448 | $ 2,365 | $ 3,263 |
Earnings per share attributable to Equity holders of the Bank : | |||
Basic earnings | $ 2,987 | $ 2,526 | $ 2,380 |
Diluted earnings | $ 2,987 | $ 2,526 | $ 2,380 |
CONSOLIDATED STATEMENT OF COMPR
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Consolidated Statement Of Comprehensive Income | |||
NET INCOME FOR THE YEAR | $ 575,249 | $ 478,432 | $ 451,729 |
OTHER COMPREHENSIVE INCOME ITEMS WHICH MAY BE RECLASSIFIED SUBSEQUENTLY TO PROFIT OR LOSS | |||
Available for sale investments | (5,520) | 14,468 | (28,777) |
Cash flow hedge | (5,850) | (6,338) | (2,099) |
Other comprehensive income items which may be reclassified subsequently to profit or loss, before tax | (11,370) | 8,130 | (30,876) |
Income tax related to items which may be reclassified subsequently to profit or loss | 2,754 | (1,975) | 6,462 |
Other comprehensive income items which may be reclassified subsequently to profit or loss, net of tax | (8,616) | 6,155 | (24,414) |
TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 566,633 | 484,587 | 427,315 |
Attributable to: | |||
Equity holders of the Bank | 553,849 | 481,419 | 424,154 |
Non-controlling interests | $ 12,784 | $ 3,168 | $ 3,161 |
CONSOLIDATED STATEMENTS OF CHAN
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - CLP ($) $ in Millions | Capital [Member] | Reserves And Other Retained Earnings [Member] | Effects Of Merger Of Companies Under Common Control [Member] | Available For Sale Investments [Member] | Cash Flow Hedge [Member] | Income Tax Effects [Member] | Retained Earnings Of Prior Years [Member] | Income For The Year [Member] | Provision For Mandatory Dividends [Member] | Total Attributable To Equity Holders Of The Bank [Member] | Non-controlling Interest [Member] | Total |
Equity at Dec. 31, 2014 | $ 891,303 | $ 1,309,985 | $ (2,224) | $ 21,680 | $ 10,725 | $ (6,805) | $ 18,384 | $ 569,910 | $ (170,973) | $ 2,641,985 | $ 33,083 | $ 2,675,068 |
Changes in equity [Roll Forward] | ||||||||||||
Distribution of income from previous period | 569,910 | (569,910) | ||||||||||
Equity at Dec. 31, 2014 | 891,303 | 1,309,985 | (2,224) | 21,680 | 10,725 | (6,805) | 588,294 | (170,973) | 2,641,985 | 33,083 | 2,675,068 | |
Changes in equity [Roll Forward] | ||||||||||||
Dividends distributions/ withdrawals made | (330,199) | 170,973 | (159,226) | (159,226) | ||||||||
Transfer of retained earnings to reserves | 220,132 | (220,132) | (6,063) | (6,063) | ||||||||
Provision for mandatory dividends | (134,539) | (134,539) | (134,539) | |||||||||
Subtotal | 220,132 | (550,331) | 36,434 | (293,765) | (6,063) | (299,828) | ||||||
Other comprehensive income | (28,645) | (2,099) | 6,432 | (24,312) | (102) | (24,414) | ||||||
Income for the year | 448,466 | 448,466 | 3,263 | 451,729 | ||||||||
Subtotal | (28,645) | (2,099) | 6,432 | 448,466 | 424,154 | 3,161 | 427,315 | |||||
Equity at Dec. 31, 2015 | 891,303 | 1,530,117 | (2,224) | (6,965) | 8,626 | (373) | 37,963 | 448,466 | (134,539) | 2,772,374 | 30,181 | 2,802,555 |
Changes in equity [Roll Forward] | ||||||||||||
Distribution of income from previous period | 448,466 | (448,466) | ||||||||||
Equity at Dec. 31, 2015 | 891,303 | 1,530,117 | (2,224) | (6,965) | 8,626 | (373) | 486,429 | (134,539) | 2,772,374 | 30,181 | 2,802,555 | |
Changes in equity [Roll Forward] | ||||||||||||
Dividends distributions/ withdrawals made | (336,659) | 134,539 | (202,120) | (4,008) | (206,128) | |||||||
Transfer of retained earnings to reserves | 112,219 | (112,219) | ||||||||||
Provision for mandatory dividends | (142,815) | (142,815) | (142,815) | |||||||||
Subtotal | 112,219 | (448,878) | (8,276) | (344,935) | (4,008) | (348,943) | ||||||
Other comprehensive income | 13,414 | (6,338) | (1,724) | 5,352 | 803 | 6,155 | ||||||
Income for the year | 476,067 | 476,067 | 2,365 | 478,432 | ||||||||
Subtotal | 13,414 | (6,338) | (1,724) | 476,067 | 481,419 | 3,168 | 484,587 | |||||
Equity at Dec. 31, 2016 | 891,303 | 1,642,336 | (2,224) | 6,449 | 2,288 | (2,097) | 37,551 | 476,067 | (142,815) | 2,908,858 | 29,341 | 2,938,199 |
Changes in equity [Roll Forward] | ||||||||||||
Distribution of income from previous period | 476,067 | (476,067) | ||||||||||
Equity at Dec. 31, 2016 | 891,303 | 1,642,336 | (2,224) | 6,449 | 2,288 | (2,097) | 513,618 | (142,815) | 2,908,858 | 29,341 | 2,938,199 | |
Changes in equity [Roll Forward] | ||||||||||||
Dividends distributions/ withdrawals made | (330,645) | 142,815 | (187,830) | (242) | (188,072) | |||||||
Transfer of retained earnings to reserves | 141,706 | (141,706) | ||||||||||
Provision for mandatory dividends | (168,840) | (168,840) | (168,840) | |||||||||
Subtotal | 141,706 | (472,351) | (26,025) | (356,670) | (242) | (356,912) | ||||||
Other comprehensive income | (5,990) | (5,850) | 2,888 | (8,952) | 336 | (8,616) | ||||||
Income for the year | 562,801 | 562,801 | 12,448 | 575,249 | ||||||||
Subtotal | (5,990) | (5,850) | 2,888 | 562,801 | 553,849 | 12,784 | 566,633 | |||||
Equity at Dec. 31, 2017 | $ 891,303 | $ 1,784,042 | $ (2,224) | $ 459 | $ (3,562) | $ 791 | $ 41,267 | $ 562,801 | $ (168,840) | $ 3,106,037 | $ 41,883 | $ 3,147,920 |
CONSOLIDATED STATEMENTS OF CHA6
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Parenthetical) - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Statement of changes in equity [abstract] | ||
Total attributable to equity holders of the Bank | $ 472,351 | $ 448,878 |
Allocated to reserves | 141,706 | 112,219 |
Allocated to dividends | $ 330,645 | $ 336,659 |
Number of shares | 188,446,126,794 | 188,446,126,794 |
Dividend per share (in dollars per shares) | $ 1.755 | $ 1.787 |
CONSOLIDATED STATEMENT OF CASH
CONSOLIDATED STATEMENT OF CASH FLOWS - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
A - CASH FLOWS FROM OPERATING ACTIVITIES | |||
NET INCOME FOR THE YEAR | $ 575,249 | $ 478,432 | $ 451,729 |
Debits (credits) to income that do not represent cash flows | (1,198,330) | (1,082,975) | (927,591) |
Depreciation and amortization | 77,823 | 65,359 | 53,614 |
Impairment of property, plant, and equipment | 5,644 | 234 | 21 |
Provision for loan losses | 385,782 | 420,381 | 467,417 |
Mark to market of trading investments | 1,438 | (2,682) | (3,001) |
Income from investments in associates and other companies | (3,962) | (3,012) | (2,588) |
Net gain on sale of assets received in lieu of payment | (3,330) | (1,663) | (2,455) |
Provision on assets received in lieu of payment | 3,912 | 9,246 | 7,803 |
Net gain on sale of property, plant and equipment | (23,229) | (2,017) | (381) |
Net interest income | (1,326,691) | (1,281,366) | (1,255,206) |
Net fee and commission income | (279,063) | (254,424) | (237,627) |
Debits (credits) to income that do not represent cash flows | (29,903) | 4,238 | 90,484 |
Changes in deferred taxes | (6,751) | (37,269) | (45,672) |
Increase/decrease in operating assets and liabilities | 206,724 | 1,340,696 | 1,163,658 |
(Increase) of loans and accounts receivables from customers, net | (629,605) | (1,643,744) | (2,083,854) |
Decrease (increase) of financial investments | 725,611 | (1,417,211) | (57,731) |
Decrease (increase) due to resale agreements (assets) | 6,736 | (4,273) | 2,463 |
Decrease (increase) of interbank loans | 110,036 | (261,744) | (1,057) |
Decrease of assets received or awarded in lieu of payment | 4,125 | 18,238 | 4,157 |
Increase of debits in customers checking accounts | 127,968 | 268,695 | 744,863 |
(Decrease) increase of time deposits and other time liabilities | (1,237,764) | 968,942 | 1,768,827 |
Increase (decrease) of obligations with domestic banks | (364,956) | 365,436 | (66,006) |
Increase (decrease) of other demand liabilities or time obligations | 100,883 | (85,502) | 130,763 |
Increase of obligations with foreign banks | 146,947 | 243,355 | 142,069 |
(Decrease) increase of obligations with Central Bank of Chile | (2) | 3 | (90) |
(Decrease) increase of obligations under repurchase agreements | 55,624 | 68,748 | (248,437) |
Increase in other financial liabilities | 2,014 | 19,489 | 15,402 |
(Decrease) increase of other assets and liabilities | (158,281) | 259,899 | (1,286,057) |
Redemption of letters of credit | (11,772) | (16,606) | (26,720) |
Senior bond issuances | 911,581 | 3,537,855 | 878,389 |
Redemption of mortgage bonds and payments of interest | (5,736) | (5,492) | (5,343) |
Redemption of senior bonds and payments of interest | (1,167,656) | (2,499,271) | (231,972) |
Redemption of subordinated bonds and payments of interest | (14,899) | (12,128) | (10,397) |
Interest received | 2,058,446 | 2,137,044 | 2,093,028 |
Interest paid | (731,755) | (855,678) | (836,544) |
Dividends received from investments in other companies | 116 | 217 | 278 |
Fees and commissions received | 455,558 | 431,184 | 402,900 |
Fees and commissions paid | (176,495) | (176,760) | (165,273) |
Total cash flow (used in) provided by operating activities | (416,357) | 736,153 | 687,796 |
B - CASH FLOWS FROM INVESTMENT ACTIVITIES: | |||
Purchases of property, plant, and equipment | (58,772) | (62,355) | (65,111) |
Sales of property, plant, and equipment | 17,941 | 560 | 121 |
Purchases of investments in associates and other companies | (3) | (1,123) | (302) |
Purchases of intangible assets | (32,624) | (27,281) | (27,573) |
Total cash flow .used in investment activities | (73,458) | (90,199) | (92,865) |
C - CASH FLOW FROM FINANCING ACTIVITIES: | |||
From shareholders' financing activities | (330,645) | (336,659) | (330,199) |
Dividends paid | (330,645) | (336,659) | (330,199) |
Total cash flow used in financing activities | (330,645) | (336,659) | (330,199) |
D - NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS DURING THE YEAR | (820,460) | 309,295 | 264,732 |
E - EFFECTS OF FOREIGN EXCHANGE RATE FLUCTUATIONS | (31,398) | (150,266) | 203,436 |
F - INITIAL BALANCE OF CASH AND CASH EQUIVALENTS | 2,486,199 | 2,327,170 | 1,859,002 |
FINAL BALANCE OF CASH AND CASH EQUIVALENTS | 1,634,341 | 2,486,199 | 2,327,170 |
Reconciliation of provisions for the Consolidated Statement of Cash Flow for the year ended | |||
Provision for loan losses for cash flow purposes | 385,782 | 420,381 | 467,417 |
Recovery of loans previously charged off | (83,527) | (78,298) | (68,140) |
Provision for loan losses - net | $ 302,255 | $ 342,083 | $ 399,277 |
CONSOLIDATED STATEMENT OF CASH8
CONSOLIDATED STATEMENT OF CASH FLOWS (Parenthetical) $ in Millions | 12 Months Ended |
Dec. 31, 2017CLP ($) | |
Reconciliation of liabilities that arise from financing activities [Roll Forward] | |
Balance as of beginning | $ 759,665 |
Cash flow | (330,645) |
Changes not related to cash flows | |
Adquisition | |
Foreign currency exchange | |
Price level restatement | 13,527 |
Fair value changes | |
Balance as of end | 442,547 |
Other liabilities [Member] | |
Reconciliation of liabilities that arise from financing activities [Roll Forward] | |
Balance as of beginning | |
Cash flow | |
Changes not related to cash flows | |
Adquisition | |
Foreign currency exchange | |
Price level restatement | |
Fair value changes | |
Balance as of end | |
Paid dividend [Member] | |
Reconciliation of liabilities that arise from financing activities [Roll Forward] | |
Balance as of beginning | |
Cash flow | (330,645) |
Changes not related to cash flows | |
Adquisition | |
Foreign currency exchange | |
Price level restatement | |
Fair value changes | |
Balance as of end | (330,645) |
Subordinated bonds [Member] | |
Reconciliation of liabilities that arise from financing activities [Roll Forward] | |
Balance as of beginning | 759,665 |
Changes not related to cash flows | |
Adquisition | |
Foreign currency exchange | |
Price level restatement | 13,527 |
Fair value changes | |
Balance as of end | $ 773,192 |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 12 Months Ended |
Dec. 31, 2017 | |
Summary Of Significant Accounting Policies | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 01 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES CORPORATE INFORMATION Banco Santander Chile is a banking corporation (limited company) operating under the laws of the Republic of Chile, headquartered at Bandera N°140, Santiago. The corporation provides a broad range of general banking services to its customers, ranging from individuals to major corporations. Banco Santander Chile and its subsidiaries (collectively referred to herein as the “Bank” or “Banco Santander Chile”) offers commercial and consumer banking services, including (but not limited to) factoring, collection, leasing, securities and insurance brokering, mutual and investment fund management brokering, and investment banking. Banco Santander Spain controls Banco Santander-Chile through its holdings in Teatinos Siglo XXI Inversiones Ltda. and Santander-Chile Holding S.A., which are controlled subsidiaries of Banco Santander Spain. As of December 31, 2017 Banco Santander Spain owns or controls directly and indirectly 99.5% of Santander-Chile Holding S.A. and 100% of Teatinos Siglo XXI Inversiones Ltda. This gives Banco Santander Spain control over 67.18% of the Bank’s shares. a) Basis of preparation These Consolidated Financial Statements have been prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB) (hereinafter referred to as IFRS). For purposes of these financial statements we use certain terms and conventions. References to “US$”, “U.S. dollars” and “dollars” are to United States dollars, references to “EUR” are to European Economic Community Euro, references to “CNY” are to Chinese Yuan, references to “CHF” are to Swiss franc, references to “Chilean pesos”, “pesos” or “Ch$” are to Chilean pesos, and references to “UF” are to Unidades de Fomento. The UF is an inflation-indexed Chilean monetary unit with a value in Chilean pesos that changes daily to reflect changes in the official Consumer Price Index (“CPI”) of the Instituto Nacional de Estadísticas (the Chilean National Institute of Statistics) for the previous month. The UF is revalued in monthly cycles. Each day in the period beginning on the tenth day of the current month through the ninth day of the succeeding month, the nominal peso value of the UF is indexed up (or down in the event of deflation) in order to reflect a proportionate amount of the change in the Chilean Consumer Price Index during the prior calendar month. One UF is equaled to Ch$26,798.14 as of December 31, 2017 and Ch$26,347.98 as of December 31, 2016. In 2017, UF inflation was 2.3% compared to 2.7% in 2016. The effect of any changes in the nominal peso value of our UF-denominated interest earning assets and interest bearing liabilities is reflected in our results of operations as an increase (or decrease, in the event of deflation) in interest income and expense, respectively. The Notes to the Consolidated Financial Statements contain additional information to support the figures submitted in the Consolidated Statement of Financial Position, Consolidated Statement of Income, Consolidated Statement of Comprehensive Income, Consolidated Statement of Changes in Equity and Consolidated Statement of Cash Flows for the period. b) Basis of preparation for the Consolidated Financial Statements The Consolidated Financial Statements for the years ended December 31, 2017, 2016 and 2015, incorporate the financial statements of the entities over which the Bank has control (including structured entities); and includes the adjustments, reclassifications and eliminations needed to comply with the accounting and valuation criteria established by IFRS. Control is achieved when the Bank: I. has power over the investee; II. is exposed, or has rights, to variable returns from its involvement with the investee; and III. has the ability to use its power to affect its returns. The Bank reassesses whether or not it controls an investee if facts and circumstances indicate that there are changes to one or more of the three elements of control listed above. When the Bank has less than a majority of the voting rights of an investee, it has power over the investee when the voting rights are sufficient to give it the practical ability to direct the relevant activities over the investee unilaterally. The Bank considers all relevant facts and circumstances in assessing whether or not the Bank’s voting rights in an investee are sufficient to give it power, including: · · · · Consolidation of a subsidiary begins when the Bank obtains control over the subsidiary and ceases when the Bank loses control over the subsidiary. Specifically, income and expenses of a subsidiary acquired or disposed of during the year are included in the Consolidated Statement of Income and in the Consolidated Statement of Comprehensive Income from the date the Bank gains control until the date when the Bank ceases to control the subsidiary. Profit or loss and each component of other comprehensive income are attributed to the owners of the Bank and to the non-controlling interests. Total comprehensive income of subsidiaries is attributed to the owners of the Bank and to the non-controlling interests even if this results in the non-controlling interests having a deficit in certain circumstances. When necessary, adjustments are made to the financial statements of the subsidiaries to ensure their accounting policies are consistent with the Bank’s accounting policies. All intragroup assets, liabilities, equity, income, expenses and cash flows relating to transactions between consolidated entities are eliminated in full on consolidation. Changes in the consolidated entities ownership interests in subsidiaries that do not result in a loss of control over the subsidiaries are accounted for as equity transactions. The carrying values of the Bank’s equity and the non-controlling interests’ equity are adjusted to reflect the changes to their relative interests in the subsidiaries. Any difference between the amount by which the non-controlling interests are adjusted and the fair value of the consideration paid or received is recognized directly in equity and attributed to owners of the Bank. In addition, third parties’ shares in the Bank’s consolidated equity are presented as “Non-controlling interests” in the Consolidated Statement of Changes in Equity. Their share in the income for the year is presented as “Attributable to non-controlling interest” in the Consolidated Statement of Income. The following companies are considered entities controlled by the Bank and are therefore within the scope of consolidation: i. Entities controlled by the Bank through participation in equity Name of the Subsidiary Percent ownership share As of December 31, Place of Incorporation and operation 2017 2016 2015 Direct Indirect Total Direct Indirect Total Direct Indirect Total Main Activity % % % % % % % % % Santander Corredora de Seguros Limitada Insurance brokerage Santiago, Chile 99.75 0.01 99.76 99.75 0.01 99.76 99.75 0.01 99.76 Santander Corredores de Bolsa Limitada(*) Financial instruments brokerage Santiago, Chile 50.59 0.41 51.00 50.59 0.41 51.00 50.59 0.41 51.00 Santander Agente de Valores Limitada Securities brokerage Santiago, Chile 99.03 - 99.03 99.03 - 99.03 99.03 - 99.03 Santander S.A. Sociedad Securitizadora Purchase of credits and issuance of debt instruments Santiago, Chile 99.64 - 99.64 99.64 - 99.64 99.64 - 99.64 The detail of non-controlling participation on all the remaining subsidiaries can be seen in Note 24– Non-controlling interest. ii. Entities controlled by the Bank through other considerations The following companies have been consolidated based on the determination that the Bank has control as previously defined above and in accordance with IFRS 10, Consolidated Financial Statements - Santander Gestión de Recaudación y Cobranza Limitada (collection services) - Bansa Santander S.A. (management of repossessed assets and leasing of properties) iii. Associates An associate is an entity over which the Bank has significant influence. Significant influence, in this case, is defined as the power to participate in the financial and operating policy decisions of the investee but is not control or joint control over those policies. An investment in an associate is accounted for using the equity method from the date on which the investee becomes an associate. The following companies are considered “Associates” in which the Bank accounts for its participation using the equity method: Percentage of ownership share As of December 31, Place of Incorporation and operation 2017 2016 2015 Associates Main activity % % % Redbanc S.A. ATM services Santiago, Chile 33.43 33.43 33.43 Transbank S.A. Debit and credit card services Santiago, Chile 25.00 25.00 25.00 Centro de Compensación Automatizado Electronic fund transfer and compensation services Santiago, Chile 33.33 33.33 33.33 Sociedad Interbancaria de Depósito de Valores S.A. Delivery of securities on public offer Santiago, Chile 29.29 29.29 29.29 Cámara Compensación de Alto Valor S.A. Payments clearing Santiago, Chile 15.00 14.93 14.23 Administrador Financiero del Transantiago S.A. Administration of boarding passes to public transportation Santiago, Chile 20.00 20.00 20.00 Sociedad Nexus S.A. Credit card processor Santiago, Chile 12.90 12.90 12.90 Servicios de Infraestructura de Mercado OTC S.A. Administration of the infrastructure for the financial market of derivative instruments Santiago, Chile 12.07 12.07 11.11 In the case of Sociedad Nexus S.A. and Cámara Compensación de Pagos Alto Valor S.A., Banco Santander Chile has a representative on the Board of Directors. As per the definition of associates, the Bank has concluded that it exerts significant influence over those entities. During 2017, Rabobank Chile in liquidation process and Banco París, ceded to Banco Santander Chile a portion of its share in the company "Sociedad Operadora de la Cámara de Compensación de pagos de Alto Valor S.A.", thereby increasing the Bank's share. During the last quarter of 2016, Banco Penta ceded to Banco Santander Chile a portion of its share in the companies "Sociedad Operadora de la Cámara de Compensación de pagos de Alto Valor S.A." and "Servicios de Infraestructura de Mercado OTC S.A.", thereby increasing the Bank's share to 14.93% and 12.07% respectively. As of the ended (2016), Deutsche Bank ceded to Banco Santander Chile a portion of its share in the companies "Sociedad Operadora de la Cámara de Compensación de pagos de Alto Valor S.A." and "Servicios de Infraestructura de Mercado OTC S.A.", thereby increasing the Bank's share to 14.84% and 11.93% respectively. At the Extraordinary Shareholders meeting held in April 21, 2016, Transbank S.A. agreed to increase its capital by capitalizing the accumulated profits, through the placement of shares for Ch$4,000 million approximately. Banco Santander Chile participated proportionally in its participation (25%), therefore subscribed and paid in for Ch$1,000 million. Previously, Transbank agreed to capital increase at an Extraordinary Shareholders' Meeting held in April 2015, Banco Santander subscribed to that agreement, maintaining its ownership. In October 2015, HSBC Bank Chile sold its ownership share in Camara de Compensación de Pagos de Alto Valor S.A. to Banco Santander Chile, increasing its participation to 14.23%. c) Non-controlling interest Non-controlling interest represents the portion of net income and net assets which the Bank does not own, either directly or indirectly. It is presented as “Attributable to non-controlling interest” separately in the Consolidated Statement of Income, and separately from shareholders’ equity in the Consolidated Statement of Financial Position. In the case of entities controlled by the Bank through other considerations, income and equity are presented in full as non-controlling interest, since the Bank controls them, but does not have any ownership expressed as a percentage. d) Reporting segments Operating segments are components of an entity: i. that engages in business activities from which it may earn revenues and incur expenses (including revenues and expenses from transactions with other components of the same entity); ii. whose operating results are regularly reviewed by the entity’s chief executive officer, who makes decisions about resources allocated to the segment and assess its performance; and iii. for which discrete financial information is available. Two or more segments can be combined only if aggregation is consistent with International Financial Reporting Standard 8 “Operating Segments” (IFRS 8) and the segments have similar economic characteristics and are similar in each of the following respects: i. the nature of the products and services; ii. the nature of the production processes; iii. the type or class of customers that use their products and services; iv. the methods used to distribute their products or services; and v. if applicable, the nature of the regulatory environment, for example, banking, insurance, or public utilities. The Bank reports separately on each operating segment that exceeds any of the following quantitative thresholds: i. its reported revenue, from both external customers and intersegment sales or transfers, is 10% or more of the combined internal and external revenue of all the operating segments. ii. the absolute amount of its reported profit or loss is 10% or more of the greater in absolute amount of: (i) the combined reported profit of all the operating segments that did not report a loss; (ii) the combined reported loss of all the operating segments that reported a loss. iii. its assets represent 10% or more of the combined assets of all the operating segments. Operating segments that do not meet any of the quantitative threshold may be treated as segments to be reported, in which case the information must be disclosed separately if management believes it could be useful for the users of the Consolidated Financial Statements. Information about other business activities of the operating segments not separately reported is combined and disclosed in the “Other segments” category. e) Functional and presentation currency According to International Accounting Standard (IAS) 21 “The Effects of Changes in Foreign Exchange Rates”, the Chilean peso, which is the currency of the primary economic environment in which the Bank operates and the currency which influences its costs and revenue structure, has been defined as the Bank’s functional and presentation currency. Accordingly, all balances and transactions denominated in currencies other than the Chilean Peso are treated as “foreign currency”. The Bank maintains its accounting records and prepares its financial statements in Chilean pesos. The US dollar amounts disclosed in the accompanying financial statements are presented solely for the convenience of the reader as of December 31, 2017 using the observed exchange rate of Ch$616.85 per US$1.00. Such translations should not be construed as representations that the (local currency) amounts represent, or have been or could be converted into, United States dollars at that or any other rate. f) Foreign currency transactions The Bank makes transactions in amounts denominated in foreign currencies, mainly the U.S. dollar. Assets and liabilities denominated in foreign currencies, held by the Bank are translated to Chilean pesos based on the market rate published by Reuters at 1:30 p.m. representative of the month end reported; the rate used was Ch$616.85 per US$1 as of December 31, 2017 (Ch$666.00 per US$1 as of December, 2016). The amounts of net foreign exchange gains and losses includes recognition of the effects that exchange rate variations have on assets and liabilities denominated in foreign currencies and the profits and losses on foreign exchange spot and forward transactions undertaken by the Bank. g) Definitions and classification of financial instruments i. Definitions A “financial instrument” is any contract that gives rise to a financial asset of one entity, and a financial liability or equity instrument of another entity. An “equity instrument” is a legal transaction that evidences a residual interest in the assets of an entity deducting all of its liabilities. A “financial derivative” is a financial instrument whose value changes in response to the changes in an underlying observable market variable (such as an interest rate, a foreign exchange rate, a financial instrument’s price, or a market index, including credit ratings), whose initial investment is very small compared with other financial instruments having a similar response to changes in market factors, and which is generally settled at a future date. “Hybrid financial instruments” are contracts that simultaneously include a non-derivative host contract together with a financial derivative, known as an embedded derivative, which is not separately transferable and has the effect that some of the cash flows of the hybrid contract vary in a way similar to a stand-alone derivative. ii. Classification of financial assets for measurement purposes Financial assets are classified into the following specified categories: trading investments at fair value through profit or loss (FVTPL), ‘held to maturity investments’, ‘available for sale investments (AFS)’ and ‘loans and accounts receivable from customers'. The classification depends on the nature and purpose of the financial assets and is determined at the time of initial recognition. All regular purchases or sales of financial asset are recognized and derecognized on a trade basis. Regular way purchases or sales of financial assets require delivery of the asset within the time frame established by regulation or convention in the marketplace. Financial assets are initially recognized at fair value plus, in the case of a financial assets not at fair value through profit or loss, transaction costs that are directly attributable to the acquisition or issue. Effective interest method The effective interest method is a method of calculating the amortised cost of a debt instrument and of allocating interest income over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash receipts (including all fees and points paid or received that form an integral part of the effective interest rate, transaction costs and other premiums or discounts) through the expected life of the debt instrument, or, where appropriate, a shorter period, to the net carrying amount on initial recognition. Income is recognised on an effective interest basis for loans and accounts receivables other than those financial assets classified as at fair value through profit or loss. Financial assets FVTPL - Trading investments Financial assets are classified as FVTPL when the financial asset is either held for trading or it is designated as at fair value through profit or loss. A financial asset is classified as held for trading if: · it has been acquired principally for the purpose of selling it in the near term; or · on initial recognition it is part of a portfolio of identified financial instruments that the Bank manages together and has a recent actual pattern of short-term profit-taking; or · it is a derivative that is not designated and effective as a hedging instrument. A financial asset other than a financial asset held for trading may be designated as FVTPL upon initial recognition if: · such designation eliminates or significantly reduces a measurement or recognition inconsistency that would otherwise arise; or · the financial asset forms part of a group of financial assets or financial liabilities or both, which is managed and its performance is evaluated on a fair value basis, in accordance with the Bank's documented risk management or investment strategy, and information about the grouping is provided internally on that basis; or · it forms part of a contract containing one or more embedded derivatives, and IAS 39 permits the entire combined contract to be designated as FVTPL. Financial assets at FVTPL are stated at fair value, with any gains or losses arising on remeasurement recognised in profit or loss. The net gain or loss recognised in profit or loss incorporates any dividend or interest earned on the financial asset and is included in the ‘net income (expense) from financial operations' line item. Held to maturity investments Held-to-maturity investments are non-derivative financial assets with fixed or determinable payments and fixed maturity dates that the Bank has the positive intent and ability to hold to maturity. Subsequent to initial recognition, held-to-maturity investments are measured at amortised cost using the effective interest method less any impairment. Available for sale investments (AFS investments) AFS investments are non-derivatives that are either designated as AFS or are not classified as (a) loans and accounts receivable from customers, (b) held-to-maturity investments or (c) financial assets at fair value through profit or loss (trading investments). Financial instruments held by the Bank that are traded in an active market are classified as AFS and are stated at fair value at the end of each reporting period. The Bank also has investments in financial instruments that are not traded in an active market but that are also classified as AFS investments and stated at fair value at the end of each reporting period (because the Bank considers that fair value can be reliably measured). Changes in the carrying amount of AFS monetary financial assets relating to changes in foreign currency rates, interest income calculated using the effective interest method and dividends on AFS equity investments are recognised in profit or loss. Other changes in the carrying amount of available for sale investments are recognised in other comprehensive income and accumulated under the heading of “Valuation Adjustment”. When the investment is disposed of or is determined to be impaired, the cumulative gain or loss previously accumulated in the investments revaluation reserve is reclassified to profit or loss. Dividends on AFS equity instruments are recognised in profit or loss when the Bank's right to receive the dividends is established. The fair value of AFS monetary financial assets denominated in a foreign currency is determined in that foreign currency and translated as the described in f) above. The foreign exchange gains and losses that are recognised in profit or loss are determined based on the amortised cost of the monetary asset. Loans and accounts receivable from customers Loans and accounts receivable from customers are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. Loans and accounts receivables from customers (including loans and accounts receivable from customers and interbank loans) are measured at amortised cost using the effective interest method, less any impairment. Interest income is recognised by applying the effective interest rate, except for short-term receivables when the effect of discounting is immaterial. iii. Classification of financial assets for presentation purposes For presentation purposes, the financial assets are classified by their nature into the following line items in the Consolidated Financial Statements: - Cash and deposits in banks: this line includes cash balances, checking accounts and on-demand deposits with the Central Bank of Chile and other domestic and foreign financial institutions. Amounts invested as overnight deposits are included in this item. - Cash items in process of collection: this item represents domestic transactions in the process of transfer through a central domestic clearinghouse or international transactions which may be delayed in settlement due to timing differences, etc. - Trading investments: this item includes financial instruments held-for-trading and investments in mutual funds which must be adjusted to their fair value in the same way as instruments acquired for trading. - Investments under resale agreements: includes balances of financial instruments purchased under resale agreement. - Financial derivative contracts: financial derivative contracts with positive fair values are presented in this item. It includes both independent contracts as well as derivatives that should and can be separated from a host contract, whether they are for trading or accounted for as derivatives held for hedging, as shown in Note 7 to the Consolidated Financial Statements. · Trading derivatives: includes the fair value of derivatives which do not qualify for hedge accounting, including embedded derivatives separated from hybrid financial instruments. · Hedging derivatives: includes the fair value of derivatives designated as being in a hedging relationship, including the embedded derivatives separated from the hybrid financial instruments. - Interbank loans: this item includes the balances of transactions with domestic and foreign banks, including the Central Bank of Chile, other than those reflected in certain other financial asset classifications listed above. - Loans and accounts receivables from customers: these loans are non-derivative financial assets for which fixed or determined amounts are charged, that are not listed on an active market and which the Bank does not intend to sell immediately or in the short term. When the Bank is the lessor in a lease, and it substantially transfers the risks and rewards incidental to the leased asset, the transaction is presented in loans and accounts receivable from customers while the leased asset is derecognized in the Bank´s statement of financial position. - Investment instruments: are classified into two categories: held-to-maturity investments, and available-for-sale investments. The held-to-maturity investment classification includes only those instruments for which the Bank has the ability and intent to hold to maturity. The remaining investments are treated as available for sale. iv. Classification of financial liabilities for measurement purposes Financial liabilities are classified as either financial liabilities at FVTPL or other financial liabilities. Financial liabilities at FVTPL As of December 31, 2017 and 2016 the Bank does not maintain financial liabilities at FVTPL. Other financial liabilities Other financial liabilities (including interbank borrowings, issued debt instruments and other payables) are initially recorded at fair value and subsequently measured at amortised cost using the effective interest method. v. Classification of financial liabilities for presentation purposes The financial liabilities are classified by their nature into the following line items in the consolidated statements of financial position: - Deposits and other on- demand liabilities: this includes all on-demand obligations except for term savings accounts, which are not considered on-demand instruments in view of their special characteristics. Obligations whose payment may be required during the period are deemed to be on-demand obligations. Operations which become callable the day after the closing date are not treated as on-demand obligations. - Cash items in process of being cleared: this represents domestic transactions in the process of transfer through a central domestic clearing house or international transactions which may be delayed in settlement due to timing differences, etc. - Obligations under repurchase agreements: this includes the balances of sales of financial instruments under securities repurchase and loan agreements. The Bank does not record in its own portfolio instruments acquired under repurchase agreements. - Time deposits and other time liabilities: this shows the balances of deposit transactions in which a term at the end of which they become callable has been stipulated. - Financial derivative contracts: this includes financial derivative contracts with negative fair values (i.e. a liability of the Bank), whether they are for trading or for hedge accounting, as set forth in Note 7. · Trading derivatives: includes the fair value of derivatives which do not qualify for hedge accounting, including embedded derivatives separated from hybrid financial instruments. · Hedging derivatives: includes the fair value of derivatives designated as being in a hedging relationship, including the embedded derivatives separated from the hybrid financial instruments. - Interbank borrowings: this includes obligations due to other domestic banks, foreign banks, or the Central Bank of Chile, other than those reflected in certain other financial liability classifications listed above. - Issued debt instruments: there are three types of instruments issued by the Bank: Obligations under letters of credit, Subordinated bonds and Senior bonds placed in the local and foreign market. - Other financial liabilities: this item includes credit obligations to persons other than domestic banks, foreign banks, or the Central Bank of Chile, for financing purposes or operations in the normal course of business. h) Valuation of financial instruments and recognition of fair value changes In general, financial assets and liabilities are initially recognized at fair value which, in the absence of evidence to the contrary, is deemed to be the transaction price. Financial instruments, other than those measured at fair value through profit or loss, are initially recognized at fair value plus transaction costs. Subsequently, and at the end of each reporting period, financial instruments are measured pursuant to the following criteria: i. Valuation of financial instruments Financial assets are measured according to their fair value, gross of any transaction costs that may be incurred in the course of a sale, except for loans and accounts receivable from customers. “Fair value” is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction in the principal (or most advantageous) market at the measurement date under current market conditions (i.e. an exit price) regardless of whether that price is directly observable or estimated using another valuation technique. When measuring fair value an entity shall take into account the characteristics of the asset or liability if market participants would take those characteristics into account when pricing the asset or liability at the measurement date. The fair value measurement assumes that the transaction to sell the asset or transfer the liability takes place either: (a) in the principal market for the asset or liability, or (b) in the absence of a principal market, the most advantageous market for the asset or liability. Even when there is no observable market to provide pricing information in connection with the sale of an asset or the transfer of a liability at the measurement date, the fair value measurement shall assume that the transaction takes place, considered from the perspective of a potential market participant who intends to maximize value associated with the asset or liability. When using valuation techniques, the Bank shall maximize the use of relevant observable inputs and minimize the use of unobservable inputs as available. If an asset or a liability measured at fair value has a bid price and an ask price, the price within the bid-ask spread that is most representative of fair value in the circumstances shall be used to measure fair value regardless of where the input is categorized within the fair value hierarchy (i.e. Level 1, 2 or 3). IFRS 13 establishes a fair value hierarchy that categorizes into three levels the inputs to valuation techniques used to measure fair value. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities (Level 1 inputs) and the lowest priority to unobservable inputs (Level 3 inputs). All derivatives are recorded in the Consolidated Statements of Financial Position at the fair value previously described. This value is compared to the valuation as at the trade date. If the fair value is subsequently measured positive, this is recorded as an asset. If the fair value is subsequently measured negative, this is recorded as a liability. The fair value on the trade date is deemed, in the absence of evidence to the contrary, to be the transaction price. The changes in the fair value of derivatives from the trade date are recorded in “Net income (expense) from financial operations” in the Consolidated Statement of Income. Specifically, the fair value of financial derivati |
SIGNIFICANT EVENTS
SIGNIFICANT EVENTS | 12 Months Ended |
Dec. 31, 2017 | |
Significant Events | |
SIGNIFICANT EVENTS | NOTE 02 SIGNIFICANT EVENTS As of December 31, 2017, the following significant events have occurred and affected the Bank`s operations and Consolidated Financial Statements. a) The Board On April 5, 2017 an amendments to Banco Santander Chile bylaws was published, agreed at the Extraordinary Shareholders' Meeting held on January 9, 2017, whose minutes were included in a public deed on February 14, 2017 at the Notary of Nancy de la Fuente Hernández. Among others, a consolidated text of the bylaws was established and, after the reforms introduced, its essential clauses are as follows: · Name: Banco Santander-Chile · Object: The execution or celebration of all those acts, contracts, businesses or operations that the laws, especially the General Banking Law, allow banks to perform without prejudice to expand or restrict their sphere of action in harmony with the legal provisions in force or that in the future are established, without the need to amend these bylaws. · Capital: $891,302,881,691, divided into 188,446,126,794 nominative shares, without par value, of the same and only series. · Board: composed of 9 regular members and 2 alternates. At the Ordinary Shareholders' Meeting held on April 26, 2017, the Board of Directors was elected for a period of three years, consisting of nine Regular Directors and two Alternate Directors, the persons elected were: · Directors: Vittorio Corbo Lioi, Oscar von Chrismar Carvajal, Roberto Méndez Torres, Juan Pedro Santa María Pérez, Ana Dorrego de Carlos, Andreu Plaza Lopez, Lucia Santa Cruz Sutil, Orlando Poblete Iturrate and Roberto Zahler Mayanz. · Alternate Directors: Blanca Bustamante Bravo and Raimundo Monge Zegers. b) Use of Profits and Distribution of Dividends The Shareholders’ Meeting of Banco Santander Chile held on April 26, 2017, At the Ordinary General Shareholders' Meeting held on April 26, 2017, together with approving the Financial Statements corresponding to 2016, it was agreed to distribute 70% of the net profits for the year (which are denominated in the financial statements "Profit attributable to holders assets of the Bank "), which amounted to Ch$ 472,351 million. These profits correspond to a dividend of $ 1.75459102 for each share. Likewise, it is approved that the remaining 30% of the profits will be used to increase the Bank's reserves. c) Appointment of External Auditors In the Ordinary General Shareholders' Meeting indicated above, it was agreed to appoint PricewaterhouseCoopers Consultores, Auditores y Compañía Limitada, as external auditors of the Bank and its affiliates for the 2017 fiscal year. d) Bods issued at December 31, 2017 d.1) Senior bonds During the year ended December 31, 2017 the Bank has issued senior bonds in the amount of USD 770.000.000 and AUS 30.000.000. Debt issuance information are included in Note 18. Series Currency Amount Term (anual) Issuance rate (anual) Issuance date Maturity date DN USD 100,000,000 3.0 Libor-USD 3M+0.80% 20-07-2017 27-07-2020 DN USD 50,000,000 3.0 Libor-USD 3M+0.80% 21-07-2017 27-07-2020 DN USD 50,000,000 3.0 Libor-USD 3M+0.80% 24-07-2017 27-07-2020 DN USD 10,000,000 4.0 Libor-USD 3M+0.83% 23-08-2017 23-11-2021 DN USD 10,000,000 4.0 Libor-USD 3M+0.83% 23-08-2017 23-11-2021 DN USD 50,000,000 3.0 Libor-USD 3M+0.75% 14-09-2017 15-09-2020 DN USD 500,000,000 3.0 2.50% 12-12-2017 15-12-2020 Total USD 770,000,000 AUD AUD 30,000,000 10.0 3.96% 05-12-2017 12-12-2027 Total AUD 30,000,000 d.2) Subordinated bonds As at December 31, 2017 the Bank had not issued subordinated bonds in this financial year. d.3) Mortgage bonds As at December 31, 2017 the Bank had not issued mortgage bonds in this financial year. d.4) Repurchase of bonds The Bank has conducted the following repurchase of bonds as of December 31, 2017: Date Series Amount 06-03-2017 Senior bond USD 6,900,000 12-05-2017 Senior bond UF 1,000,000 16-05-2017 Senior bond UF 690,000 17-05-2017 Senior bond UF 15,000 26-05-2017 Senior bond UF 340,000 01-06-2017 Senior bond UF 590,000 02-06-2017 Senior bond UF 300,000 05-06-2017 Senior bond UF 130,000 19-06-2017 Senior bond UF 265,000 10-07-2017 Senior bond UF 770,000 21-07-2017 Senior bond UF 10,000 28-08-2017 Senior bond UF 400,000 29-08-2017 Senior bond UF 272,000 03-11-2017 Senior bond UF 14,000 29-11-2017 Senior bond UF 400,000 06-12-2017 Senior bond UF 20,000 12-12-2017 Senior bond CLP 10,990,000,000 |
REPORTING SEGMENTS
REPORTING SEGMENTS | 12 Months Ended |
Dec. 31, 2017 | |
Reporting Segments | |
REPORTING SEGMENTS | NOTE 03 REPORTING SEGMENTS The Bank manages and measures the performance of its operations by business segments. The information disclosed in this note is not necessarily comparable to that of other financial institutions, since it is based on management’s internal information system by segment. Inter-segment transactions are conducted under normal arm’s length commercial terms and conditions. Each segment’s assets, liabilities, and income include items directly attributable to the segment to which they can be allocated on a reasonable basis. Due to changes aimed at allocating customers to those segments best capable of servicing them, and streamlining processes, the Bank has modified its internal structure during 2015. This change in composition of the segments resulted in the following: - Commissions paid in “Net fee and commission income “were reassigned among segments to more appropriately reflect the distributions in accordance with the management of each segment; - The effects of changes in foreign exchange rates of provisions were reallocated to the line item “Other”, to more appropriately reflect the effects directly attributable to the respective segments; - The improvement of the allocation of interest costs at time of placement of the loan. Under IFRS 8, the Bank has aggregated operating segments with similar economic characteristics according to the aggregation criteria specified in the standard. A reporting segment consists of clients that are offered differentiated but, considering how their performance is measured, are homogenous services based on IFRS 8 aggregation criteria, thus they form part of the same reporting segment. Overall, this aggregation has no significant impact on the understanding of the nature and effects of the Bank’s business activities and the economic environment. The Bank has the reportable segments noted below: Retail Banking Consists of individuals and small to middle-sized entities (SMEs) with annual income less than Ch$1,200 million. This segment gives customers a variety of services, including consumer loans, credit cards, auto loans, commercial loans, foreign exchange, mortgage loans, debit cards, checking accounts, savings products, mutual funds, stockbrokerage, and insurance brokerage. Additionally the SME clients are offered government-guaranteed loans, leasing and factoring. Middle-market This segment is made up of companies and large corporations with annual sales exceeding Ch$1,200 million. It serves institutions such as universities, government entities, local and regional governments and companies engaged in the real estate industry who carry out projects to sell properties to third parties and annual sales exceeding Ch$800 million with no upper limit. The companies within this segment have access to many products including commercial loans, leasing, factoring, foreign trade, credit cards, mortgage loans, checking accounts, transactional services, treasury services, financial consulting, savings products, mutual funds, and insurance brokerage. Also companies in the real estate industry are offered specialized services to finance projects, chiefly residential, with the aim of expanding sales of mortgage loans. Global Corporate Banking This segment consists of foreign and domestic multinational companies with sales over Ch$10,000 million. The companies within this segment have access to many products including commercial loans, leasing, factoring, foreign trade, credit cards, mortgage loans, checking accounts, transactional services, treasury services, financial consulting, investments, savings products, mutual funds and insurance brokerage. This segment also consists of a Treasury Division which provides sophisticated financial products, mainly to companies in the Middle-market and Global Corporate Banking segments. These include products such as short-term financing and fund raising, brokerage services, derivatives, securitization, and other tailor-made products. The Treasury area may act as brokers to transactions and also manages the Bank’s investment portfolio. Corporate Activities (“Other”) This segment mainly includes the results of our Financial Management Division, which develops global management functions, including managing inflation rate risk, foreign currency gaps, interest rate risk and liquidity risk. Liquidity risk is managed mainly through wholesale deposits, debt issuances and the Bank’s available for sale portfolio. This segment also manages capital allocation by unit. These activities usually result in a negative contribution to income. In addition, this segment encompasses all the intra-segment income and all the activities not assigned to a given segment or product with customers. The segments’ accounting policies are those described in the summary of accounting policies. The Bank earns most of its income in the form of interest income, fee and commission income and income from financial operations. To evaluate a segment’s financial performance and make decisions regarding the resources to be assigned to segments, the Chief Operating Decision Maker (CODM) bases his assessment on the segment's interest income, fee and commission income, and expenses. Below are the tables showing the Bank’s results by reporting segment for the years ended December 31, 2017, 2016 and 2015 in addition to the corresponding balances of loans and accounts receivable from customers: As of December 31, 2017 Loans and accounts receivable from customers (1) Net interest income Net fee and commission income Financial transactions, net (2) Provision for loan losses Support expenses (3) Segment`s net contribution MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Retail Banking 19,233,169 970,332 206,449 20,595 (293,956) (534,970) 368,450 Middle-market 6,775,734 264,663 36,280 13,751 (19,235) (91,882) 203,577 Commercial Banking 25,008,903 1,234,995 242,729 34,346 (313,191) (626,852) 572,027 Global Corporate Banking 1,633,796 100,808 27,626 50,714 6,440 (62,685) 122,903 Other 83,215 (9,112) 8,708 44,692 4,496 (15,356) 33,428 Total 27,725,914 1,326,691 279,063 129,752 (302,255) (704,893) 728,358 Other operating income 62,016 Other operating expenses and impairment (74,057) Income from investments in associates and other companies 3,963 Income tax expense (145,031) Net income for the year 575,249 (1) Corresponds to loans and accounts receivable from customers, without deducting their allowances for loan losses. (2) Corresponds to the sum of the net income from financial operations and the foreign exchange profit or loss. (3) Corresponds to the sum of personnel salaries and expenses, administrative expenses, depreciation and amortization. As of December 31, 2016 Loans and accounts receivable from customers (1) Net interest income Net fee and commission income Financial transactions, net (2) Provision for loan losses Support expenses (3) Segment`s net contribution MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Retail Banking 18,604,936 931,105 196,845 21,141 (323,888) (529,909) 295,294 Middle-market 6,396,376 244,960 30,851 19,577 (26,748) (83,412) 185,228 Commercial Banking 25,001,312 1,176,065 227,696 40,718 (350,636) (613,321) 480,522 Global Corporate Banking 2,121,513 95,105 25,077 55,927 7,579 (53,935) 129,753 Other 83,606 10,196 1,651 43,713 974 (19,649) 36,885 Total 27,206,431 1,281,366 254,424 140,358 (342,083) (686,905) 647,160 Other operating income 6,427 Other operating expenses and impairment (69,136) Income from investments in associates and other companies 3,012 Income tax expense (109,031) Net income for the year 478,432 (1) Corresponds to loans and accounts receivable from customers, without deducting their allowances for loan losses. (2) Corresponds to the sum of the net income from financial operations and the foreign exchange profit or loss. (3) Corresponds to the sum of personnel salaries and expenses, administrative expenses, depreciation and amortization. As of December 31, 2015 Loans and accounts receivable from customers (1) Net interest income Net fee and commission income Financial transactions, net (2) Provision for loan losses Support expenses (3) Segment`s net contribution MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Retail Banking 17,034,707 873,026 190,380 16,245 (332,657) (533,086) 213,908 Middle-market 6,006,282 229,812 28,537 17,897 (26,147) (77,261) 172,838 Commercial Banking 23,040,989 1,102,838 218,917 34,142 (358,804) (610,347) 386,746 Global Corporate Banking 2,178,643 85,553 15,231 50,327 (28,426) (49,533) 73,152 Other 81,125 66,815 3,479 61,030 (12,047) (1,328) 117,949 Total 25,300,757 1,255,206 237,627 145,499 (399,277) (661,208) 577,847 Other operating income 6,439 Other operating expenses and impairment (58,750) Income from investments in associates and other companies 2,588 Income tax expense (76,395) Net income for the year 451,729 (1) Corresponds to loans and accounts receivable from customers, without deducting their allowances for loan losses. (2) Corresponds to the sum of the net income from financial operations and the foreign exchange profit or loss. (3) Corresponds to the sum of personnel salaries and expenses, administrative expenses, depreciation and amortization. |
CASH AND CASH EQUIVALENTS
CASH AND CASH EQUIVALENTS | 12 Months Ended |
Dec. 31, 2017 | |
Cash and cash equivalents [abstract] | |
CASH AND CASH EQUIVALENTS | NOTE 04 CASH AND CASH EQUIVALENTS a) The detail of the balances included under cash and cash equivalents is as follows: As of December 31, 2017 2016 MCh$ MCh$ Cash and deposits in banks Cash 613,361 570,317 Deposits at the Central Bank of Chile 441,683 507,275 Deposits in local banks 393 1,440 Deposits in banks abroad 397,485 1,200,357 Subtotals – Cash and deposits in banks 1,452,922 2,279,389 Net cash items in process of collection 181,419 206,810 Cash and cash equivalents 1,634,341 2,486,199 The balance of funds held in cash and at the Central Bank of Chile reflects the monthly average that the Bank must maintain in accordance with the regulations governing minimum reserves although the balance can be withdrawn on demand. b) Cash in process of collection and in process of being cleared: Cash items in process of collection and in process of being cleared represent domestic transactions which have not been processed through the central domestic clearinghouse or international transactions which may be delayed in settlement due to timing differences. These transactions were as follows: As of December 31, 2017 2016 MCh$ MCh$ Assets Documents held by other banks (documents to be cleared) 199,619 200,109 Funds receivable 468,526 295,174 Subtotal 668,145 495,283 Liabilities Funds payable 486,726 288,473 Subtotal 486,726 288,473 Cash in process of collection, net 181,419 206,810 |
TRADING INVESTMENTS
TRADING INVESTMENTS | 12 Months Ended |
Dec. 31, 2017 | |
Trading Investments | |
TRADING INVESTMENTS | NOTE 05 TRADING INVESTMENTS The detail of instruments deemed as financial trading investments is as follows: As of December 31, 2017 2016 MCh$ MCh$ Chilean Central Bank and Government securities Chilean Central Bank Bonds 272,272 158,686 Chilean Central Bank Notes - - Other Chilean Central Bank and Government securities 209,370 237,325 Subtotal 481,642 396,011 Other Chilean securities Time deposits in Chilean financial institutions - - Mortgage finance bonds of Chilean financial institutions - - Chilean financial institution bonds - - Chilean corporate bonds - 976 Other Chilean securities - - Subtotal - 976 Foreign financial securities Foreign Central Banks and Government securities - - Other foreign financial instruments - - Subtotal - - Investments in mutual funds Funds managed by related entities 4,094 - Funds managed by others - - Subtotal 4,094 - Total 485,736 396,987 As of December 31, 2017 and 2016, there were no trading investments sold under contracts to resell to clients and financial institutions. |
INVESTMENTS UNDER RESALE AGREEM
INVESTMENTS UNDER RESALE AGREEMENTS AND OBLIGATIONS UNDER REPURCHASE AGREEMENTS | 12 Months Ended |
Dec. 31, 2017 | |
Investments Under Resale Agreements And Obligations Under Repurchase Agreements | |
INVESTMENTS UNDER RESALE AGREEMENTS AND OBLIGATIONS UNDER REPURCHASE AGREEMENTS | NOTE 06 INVESTMENTS UNDER RESALE AGREEMENTS AND OBLIGATIONS UNDER REPURCHASE AGREEMENTS a) Rights arising from resale agreements The Bank purchases financial instruments agreeing to resell them at a future date. As of December 31, 2017 and 2016, rights associated with instruments acquired under contracts to resell are as follows: As of December 31, 2017 2016 From 1 day and less than 3 months More than 3 months and less than 1 year More than 1 year Total From 1 day and less than 3 months More than 3 months and less than 1 year More than 1 year Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Securities from the Chilean Government and the Chilean Central Bank Chilean Central Bank Bonds - - - - 3,260 - - 3,260 Chilean Central Bank Notes - - - - - - - - Other securities from the Government and the Chilean Central Bank - - - - 3,476 - - 3,476 Subtotal - - - - 6,736 - - 6,736 Total - - - - 6,736 - - 6,736 b) Obligations arising from repurchase agreements The Bank raises funds by selling financial instruments and committing itself to buy them back at future dates, plus interest at a predetermined rate. As of December 31, 2017 and 2016, obligations related to instruments sold under repurchase agreements are as follows: As of December 31, 2017 2016 From 1 day to less than 3 months More than 3 months and less than 1 year More than 1 year Total From 1 day to less than 3 months More than 3 months and less than 1 year More than 1 year Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Securities from Chilean Government and the Chilean Central Bank: Chilean Central Bank Bonds - - - - - - - - Chilean Central Bank Notes - - - - 155,044 - - 155,044 Other securities from the Government and the Chilean Central Bank 241,995 - - 241,995 - - - - Subtotal 241,995 - - 241,995 155,044 - - 155,044 Instruments from other domestic institutions: Time deposits in Chilean financial institutions 1,118 38 - 1,156 56,898 495 - 57,393 Subtotal 1,118 38 - 1,156 56,898 495 - 57,393 Instruments from other foreign institutions: Securities from Govemment or foreign Central Banks 24,910 - - 24,910 - - - - Subtotal 24,910 - - 24,910 - - - - Total 268,023 38 - 268,061 211,942 495 - 212,437 c) As of December 31, 2017 2016 Available for sale portfolio Trading portfolio Total Available for sale portfolio Trading portfolio Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Chilean Central Bank and Government securities: Chilean Central Bank Bonds - - - - - - Chilean Central Bank Notes - - - 155,044 - 155,044 Other securities from the Government and the Chilean Central Bank 241,995 - 241,995 - - - Subtotal 241,995 - 241,995 155,044 - 155,044 Other Chilean securities: Time deposits in Chilean financial institutions 1,156 - 1,156 57,393 - 57,393 Subtotal 1,156 - 1,156 57,393 - 57,393 Instruments from other foreign institutions: Securities from Govemment or foreign Central Banks 24,910 - 24,910 - - - Subtotal 24,910 - 24,910 - - - Total 268,061 - 268,061 212,437 - 212,437 |
DERIVATIVE FINANCIAL INSTRUMENT
DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGE ACCOUNTING | 12 Months Ended |
Dec. 31, 2017 | |
Derivative Financial Instruments And Hedge Accounting | |
DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGE ACCOUNTING | NOTE 07 DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGE ACCOUNTING a) As of December 31, 2017 and 2016 the Bank holds the following portfolio of derivative instruments: As of December 31, 2017 Notional amount Fair value Up to 3 Months More than 3 months to 1 year More than 1 year Total Assets Liabilities MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Fair value hedge derivatives Interest rate swaps - 162,985 1,554,171 1,717,156 23,003 1,424 Cross currency swaps - 715,701 5,362,772 6,078,473 15,085 65,724 Subtotal - 878,686 6,916,943 7,795,629 38,088 67,148 Cash flow hedge derivatives Currency forwards 801,093 218,982 - 1,020,075 39,233 59 Cross currency swaps 421,428 1,637,604 6,672,566 8,731,598 36,403 128,355 Subtotal 1,222,521 1,856,586 6,672,566 9,751,673 75,636 128,414 Trading derivatives Currency forwards 17,976,683 10,679,327 3,091,393 31,747,403 412,994 502,555 Interest rate swaps 9,069,964 14,389,389 46,342,779 69,802,132 467,188 392,366 Cross currency swaps 2,963,641 7,503,144 47,111,371 57,578,156 1,241,632 1,042,120 Call currency options 190,386 37,099 49,853 277,338 1,322 1,950 Call interest rate options - - - - - - Put currency options 192,722 28,616 50,470 271,808 1,787 4,935 Other derivatives - - - - - - Subtotal 30,393,396 32,637,575 96,645,866 159,676,837 2,124,923 1,943,926 Total 31,615,917 35,372,847 110,235,375 177,224,139 2,238,647 2,139,488 As of December 31, 2016 Notional amount Fair value Up to 3 months More than 3 months to 1 year More than 1 year Total Assets Liabilities MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Fair value hedge derivatives Interest rate swaps 74,086 514,454 1,402,870 1,991,410 38,977 211 Cross currency swaps 424,086 505,902 1,239,490 2,169,478 32,640 32,868 Subtotal 498,172 1,020,356 2,642,360 4,160,888 71,617 33,079 Cash flow hedge derivatives Currency forwards 915,879 639,939 - 1,555,818 10,216 3,441 Cross currency swaps 897,480 2,613,706 4,260,194 7,771,380 43,591 68,894 Subtotal 1,813,359 3,253,645 4,260,194 9,327,198 53,807 72,335 Trading derivatives Currency forwards 15,840,731 11,240,251 3,358,765 30,439,747 185,618 209,955 Interest rate swaps 6,889,665 12,512,285 49,747,459 69,149,409 627,047 526,695 Cross currency swaps 3,966,443 7,589,201 53,148,109 64,703,753 1,562,068 1,449,550 Call currency options 73,943 20,994 2,664 97,601 521 5 Call interest rate options - - - - - - Put currency options 52,143 7,892 2,664 62,699 104 542 Other derivatives - - - - - - Subtotal 26,822,925 31,370,623 106,259,661 164,453,209 2,375,358 2,186,747 Total 29,134,456 35,644,624 113,162,215 177,941,295 2,500,782 2,292,161 b) Hedge accounting Fair value hedge: The Bank uses cross-currency swaps and interest rate swaps to hedge its exposure to changes in fair value of hedged items attributable to interest rates. The aforementioned hedging instruments change the effective cost of long-term issuances from a fixed interest rate to a variable interest rate. Below is a detail of the hedged elements and hedge instruments under fair value hedges as of December 31, 2017 and 2016, classified by term to maturity: As of December 31, 2017 Within 1 year Between 1 and 3 years Between 3 and 6 years Over 6 years Total MCh$ MCh$ MCh$ MCh$ MCh$ Hedged item Loans and accounts receivable from customers: Endorsable mortgage mutual loans 587,412 801,230 106,910 - 1,495,552 Available for sale investments Yankee bonds - - 6,169 64,769 70,938 Mortgage financing bonds - - 4,738 - 4,738 Treasury bonds (BTP) - - - 129,539 129,539 Chiliean Treasury bonds - 21,377 762,727 - 784,104 Chiliean Central Bank bonds 128,289 218,640 443,357 - 790,286 Time deposits and other time liabilities Time deposits 137,985 - - - 137,985 Issued debt instruments Senior bonds 25,000 1,399,686 670,488 2,287,313 4,382,487 Total 878,686 2,440,933 1,994,389 2,481,621 7,795,629 Hedging instrument Cross currency swaps 715,701 1,512,238 1,813,221 2,037,313 6,078,473 Interest rate swaps 162,985 928,695 181,168 444,308 1,717,156 Total 878,686 2,440,933 1,994,389 2,481,621 7,795,629 As of December 31, 2016 Within 1 year Between 1 and 3 years Between 3 and 6 years Over 6 years Total MCh$ MCh$ MCh$ MCh$ MCh$ Hedged item Loans and accounts receivable from customers: Endorsable mortgage mutual loans - - - - - Available for sale investments Yankee bonds - - 6,660 56,610 63,270 Mortgage financing bonds - - 5,651 - 5,651 Treasury bonds (BTP) - - 33,300 366,300 399,600 Chiliean Treasury bonds - - - - - Chileian Central Bank bonds (BCP) - - - - - Time deposits and other time liabilities Time deposits 993,659 - - - 993,659 Issued debt instruments Senior bonds 524,869 652,046 1,000,905 520,888 2,698,708 Total 1,518,528 652,046 1,046,516 943,798 4,160,888 Hedging instrument Cross currency swaps 929,988 437,046 531,556 270,888 2,169,478 Interest rate swaps 588,540 215,000 514,960 672,910 1,991,410 Total 1,518,528 652,046 1,046,516 943,798 4,160,888 Cash flow hedges The Bank uses cross currency swaps to hedge the risk from variability of cash flows attributable to changes in the interest rates of bonds and interbank loans at a variable rate. To cover the inflation risk in some items, both forwards as well as currency swaps are used. Below is the notional amount of the hedged items as of December 31, 2017 and 2016, and the period when the cash flows will be generated: As of December 31, 2017 Within 1 year Between 1 and 3 years Between 3 and 6 years Over 6 years Total MCh$ MCh$ MCh$ MCh$ MCh$ Hedged item Loans and accounts receivables from customers Mortgage loans 1,153,348 583,061 1,335,141 2,353,871 5,425,421 Commercial loans 644,608 - - - 644,608 Available for sale investments Yankee bond - - 25,290 132,572 157,862 Chilean Central Bank bonds - - 242,819 - 242,819 Time deposits - - - - - Time deposits and other time liabilities Time deposits - - - - - Issued debt instruments Senior bonds (variable rate) 120,520 647,550 302,454 - 1,070,524 Senior bonds (fixed rate) 241,183 121,619 224,401 300,874 888,077 Interbank borrowings Interbank loans 919,448 402,914 - - 1,322,362 Total 3,079,107 1,755,144 2,130,105 2,787,317 9,751,673 Hedging instrument Cross currency swaps 2,059,032 1,755,144 2,130,105 2,787,317 8,731,598 Currency forwards 1,020,075 - - - 1,020,075 Total 3,079,107 1,755,144 2,130,105 2,787,317 9,751,673 As of December 31, 2016 Within 1 year Between 1 and 3 years Between 3 and 6 years Over 6 years Total MCh$ MCh$ MCh$ MCh$ MCh$ Hedged item Loans and accounts receivables from customers Mortgage loans 1,083,972 312,546 900,746 956,803 3,254,067 Commercial loans 972,360 - - - 972,360 Available for sale investments Yankee bond - - 126,140 406,881 533,021 Chilean Central Bank bonds 20,754 - - - 20,754 Time deposits 26,196 - - - 26,196 Time deposits and other time liabilities Time deposits 285,090 - - - 285,090 Issued debt instruments Senior bonds (variable rate) 854,414 399,451 285,355 - 1,539,220 Senior bonds (fixed rate) 140,765 108,409 243,121 105,600 597,895 Interbank borrowings Interbank loans 1,683,453 415,142 - - 2,098,595 Total 5,067,004 1,235,548 1,555,362 1,469,284 9,327,198 Hedging instrument Cross currency swaps 3,511,186 1,235,548 1,555,362 1,469,284 7,771,380 Currency forwards 1,555,818 - - - 1,555,818 Total 5,067,004 1,235,548 1,555,362 1,469,284 9,327,198 Below is an estimate of the periods in which flows are expected to be produced: b.1) Forecasted cash flows for interest rate risk: As of December 31, 2017 Within 1 year Between 1 and 3 years Between 3 and 6 years Over 6 years Total MCh$ MCh$ MCh$ MCh$ MCh$ Hedged item Inflows 308,737 60,515 13,780 2,594 385,626 Outflows (60,733) (43,507) (7,757) (878) (112,875) Net flows 248,004 17,008 6,023 1,716 272,751 Hedging instrument Inflows 60,733 43,507 7,757 878 112,875 Outflows (*) (308,737) (60,515) (13,780) (2,594) (385,626) Net flows (248,004) (17,008) (6,023) (1,716) (272,751) (*)Only includes cash flow forecast portion of the hedge instruments used to cover interest rate risk. As of December 31, 2016 Within 1 year Between 1 and 3 years Between 3 and 6 years Over 6 years Total MCh$ MCh$ MCh$ MCh$ MCh$ Hedged item Inflows 159,439 83,193 32,647 3,748 279,027 Outflows (72,631) (45,857) (18,040) - (136,528) Net flows 86,808 37,336 14,607 3,748 142,499 Hedging instrument Inflows 72,631 45,857 18,040 - 136,528 Outflows (*) (159,439) (83,193) (32,647) (3,748) (279,027) Net flows (86,808) (37,336) (14,607) (3,748) (142,499) (*)Only includes cash flow forecast portion of the hedge instruments used to cover interest rate risk. b.2) Forecasted cash flows for inflation risk: As of December 31, 2017 Within 1 year Between 1 and 3 years Between 3 and 6 years Over 6 years Total MCh$ MCh$ MCh$ MCh$ MCh$ Hedged item Inflows 20,300 29,008 103,544 286,471 439,323 Outflows (1,645) - - - (1,645) Net flows 18,655 29,008 103,544 286,471 437,678 Hedging instrument Inflows 1,645 - - - 1,645 Outflows (20,300) (29,008) (103,544) (286,471) (439,323) Net flows (18,655) (29,008) (103,544) (286,471) (437,678) As of December 31, 2016 Within 1 year Between 1 and 3 years Between 3 and 6 years Over 6 years Total MCh$ MCh$ MCh$ MCh$ MCh$ Hedged item Inflows 22,586 11,896 56,107 115,753 206,342 Outflows (4,900) - - - (4,900) Net flows 17,686 11,896 56,107 115,753 201,442 Hedging instrument Inflows 4,900 - - - 4,900 Outflows (22,586) (11,896) (56,107) (115,753) (206,342) Net flows (17,686) (11,896) (56,107) (115,753) (201,442) b.3) Forecasted cash flows for exchange rate risk: As of December 31, 2017 and 2016 the Bank has no forecasted cash flows for exchange rate risk. c) The accumulated effect of the mark to market adjustment of cash flow hedges produced by hedge instruments used in hedged cash flow was recorded in the Consolidated Statement of Changes in Equity, specifically within Other comprehensive income, as of December 31, 2017 and 2016, is as follows: As of December 31, Hedged item 2017 2016 MCh$ MCh$ Interbank loans (4,779) (6,019) Time deposits and other time liabilities - (294) Issued debt instruments (8,683) (8,169) Available for sale investments (364) 12,833 Loans and accounts receivable from customers 10,264 3,937 Net flows (3,562) 2,288 Since the inflows and outflows for both the hedged element and the hedging instrument mirror each other, the hedges are nearly 100% effective, which means that the fluctuations of fair value attributable to risk components are almost completely offset. As of December 31, 2017 and 2016 the Bank records inefficiencies for an amount of Ch$1,187 million and Ch$355 million, respectively. During the year, the Bank did not have any cash flow hedges of forecast transactions. d) Below is a presentation of income generated by cash flow hedges amount that were reclassified from other comprehensive income to income for the year: For the years ended December 31, 2017 2016 2015 MCh$ MCh$ MCh$ Bond hedging derivatives - (77) 6 Interbank loans hedging derivatives - - - Cash flow hedge net income gain (loss) - (77) 6 See Note 23 - Equity, letter e) e) Net investment hedges in foreign operations: As of December 31, 2017 and 2016, the Bank does not have any foreign net investment hedges in its hedge accounting portfolio. |
INTERBANK LOANS
INTERBANK LOANS | 12 Months Ended |
Dec. 31, 2017 | |
Interbank Loans | |
INTERBANK LOANS | NOTE 08 INTERBANK LOANS a) As of December 31, 2017 and 2016, balances of “Interbank loans”are as follows: As of December 31, 2017 2016 MCh$ MCh$ Domestic banks Interbank loans - 23 Other domestic bank loans - 51 Foreign Interbank Loans Interbank loans – Foreign 162,685 272,733 Provisions and impairment for foreign bank loans (472) (4,135) Total 162,213 268,672 b) The amount in each period for provisions and impairment of interbank loans is shown below: As of December 31, 2017 2016 Domestic banks Foreign banks Total Domestic banks Foreign banks Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Balance as of January 1 - 4,135 4,135 - 1,166 1,166 Provisions established 251 56 307 1 3,051 3,052 Provisions released (251) (3,719) (3,970) (1) (82) (83) Total - 472 472 - 4,135 4,135 |
LOANS AND ACCOUNTS RECEIVABLE F
LOANS AND ACCOUNTS RECEIVABLE FROM CUSTOMERS | 12 Months Ended |
Dec. 31, 2017 | |
Loans And Accounts Receivable From Customers | |
LOANS AND ACCOUNTS RECEIVABLE FROM CUSTOMERS | NOTE 09 LOANS AND ACCOUNTS RECEIVABLE FROM CUSTOMERS a) Loans and accounts receivable from customers As of December 31, 2017 and 2016, the composition of the loan portfolio is as follows: As of December 31, 2017 Assets before allowances Allowances established Normal portfolio Impaired portfolio Total Individual allowances Group allowances Total Assets net balance MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Commercial loans Commercial loans 9,244,460 746,196 9,990,656 133,254 168,736 301,990 9,688,666 Foreign trade loans 1,506,359 68,154 1,574,513 49,026 1,444 50,470 1,524,043 Checking accounts debtors 179,982 15,714 195,696 2,726 11,740 14,466 181,230 Factoring transactions 444,644 5,246 449,890 4,788 1,207 5,995 443,895 Student loans 77,226 11,064 88,290 - 5,922 5,922 82,368 Leasing transactions 1,335,653 121,351 1,457,004 17,529 12,793 30,322 1,426,682 Other loans and account receivable 106,815 45,778 152,593 11,467 17,231 28,698 123,895 Subtotal 12,895,139 1,013,503 13,908,642 218,790 219,073 437,863 13,470,779 Mortgage loans Loans with mortgage finance bonds 22,620 1,440 24,060 - 123 123 23,937 Endorsable mortgage mutual loans 110,659 4,419 115,078 - 594 594 114,484 Other mortgage mutual loans 8,501,072 456,685 8,957,757 - 68,349 68,349 8,889,408 Subtotal 8,634,351 462,544 9,096,895 - 69,066 69,066 9,027,829 Consumer loans Installment consumer loans 2,613,041 297,701 2,910,742 - 240,962 240,962 2,669,780 Credit card balances 1,341,098 23,882 1,364,980 - 33,401 33,401 1,331,579 Leasing transactions 4,638 77 4,715 - 62 62 4,653 Other consumer loans 271,789 5,466 277,255 - 9,331 9,331 267,924 Subtotal 4,230,566 327,126 4,557,692 - 283,756 283,756 4,273,936 Total 25,760,056 1,803,173 27,563,229 218,790 571,895 790,685 26,772,544 As of December 31, 2016 Assets before allowances Allowances established Normal portfolio Impaired portfolio Total Individual allowances Group allowances Total Assets net balance MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Commercial loans Commercial loans 9,160,354 693,303 9,853,657 159,463 148,703 308,166 9,545,491 Foreign trade loans 1,750,196 79,708 1,829,904 56,919 901 57,820 1,772,084 Checking accounts debtors 166,073 13,395 179,468 2,794 6,854 9,648 169,820 Factoring transactions 291,112 5,639 296,751 4,787 620 5,407 291,344 Student loans - - - - - - - Leasing transactions 1,376,972 108,151 1,485,123 17,593 5,546 23,139 1,461,984 Other loans and account receivable 193,589 28,973 222,562 4,780 20,482 25,262 197,300 Subtotal 12,938,296 929,169 13,867,465 246,336 183,106 429,442 13,438,023 Mortgage loans Loans with mortgage finance bonds 31,368 1,211 32,579 - 16 16 32,563 Endorsable mortgage mutual loans 115,400 4,534 119,934 - 190 190 119,744 Other mortgage mutual loans 8,074,900 391,943 8,466,843 - 56,803 56,803 8,410,040 Subtotal 8,221,668 397,688 8,619,356 - 57,009 57,009 8,562,347 Consumer loans Installment consumer loans 2,468,692 253,673 2,722,365 - 249,545 249,545 2,472,820 Credit card balances 1,418,409 29,709 1,448,118 - 41,063 41,063 1,407,055 Leasing transactions 5,062 55 5,117 - 72 72 5,045 Other consumer loans 266,056 5,147 271,203 - 9,339 9,339 261,864 Subtotal 4,158,219 288,584 4,446,803 - 300,019 300,019 4,146,784 Total 25,318,183 1,615,441 26,933,624 246,336 540,134 786,470 26,147,154 b) Portfolio characteristics: As of December 31, 2017 and 2016 the portfolio before allowances is as follows, by customer’s economic activity: Domestic loans (*) Foreign interbank loans Total loans Distribution percentage As of December 31 As of December 31, As of December 31, As of December 31, 2017 2016 2017 2016 2017 2016 2017 2016 MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ % % Commercial loans Manufacturing 1,218,232 1,180,886 1,218,232 1,180,886 4.39 4.34 Mining 302,037 340,554 - - 302,037 340,554 1.09 1.25 Electricity, gas, and water 336,048 442,936 - - 336,048 442,936 1.21 1.63 Agriculture and livestock 1,114,597 1,096,659 - - 1,114,597 1,096,659 4.02 4.03 Forest 98,941 96,806 - - 98,941 96,806 0.36 0.36 Fishing 215,994 296,592 - - 215,994 296,592 0.78 1.09 Transport 697,948 787,510 - - 697,948 787,510 2.52 2.89 Communications 168,744 196,934 - - 168,744 196,934 0.61 0.72 Construction 1,977,417 1,792,485 - - 1,977,417 1,792,485 7.13 6.59 Commerce 3,131,870 3,120,400 - - 3,294,555 3,393,133 11.88 12.47 Services 467,747 482,900 162,685 272,733 467,747 482,900 1.69 1.77 Other 4,179,067 4,032,877 - - 4,179,067 4,032,877 15.07 14.84 - - Subtotal 13,908,642 13,867,539 162,685 272,733 14,071,327 14,140,272 50.75 51.98 Mortgage loans 9,096,895 8,619,356 9,096,895 8,619,356 32.81 31.68 - - Consumer loans 4,557,692 4,446,803 4,557,692 4,446,803 16.43 16.34 - - Total 27,563,229 26,933,698 162,685 272,733 27,725,914 27,206,431 100.00 100.0 (*) Includes domestic interbank loans for Ch$ 0 million as of December 31, 2017 (Ch$74 million as of December 31, 2016), see Note 8. c) Impaired Portfolio i) As of December 31, 2017 and 2016, the impaired portfolio is as follows: As of December 31, 2017 2016 Commercial Mortgage Consumer Total Commercial Mortgage Consumer Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Individual impaired portfolio 427,890 - - 427,890 439,707 - - 439,707 Non-performing loans (1) (collectively evaluated) 368,522 161,768 103,171 633,461 316,838 147,572 99,721 564,131 Other impaired portfolio 217,091 300,776 223,955 741,822 172,624 250,116 188,863 611,603 Total 1,013,503 462,544 327,126 1,803,173 929,169 397,688 288,584 1,615,441 (1) Non-performing loans include the aggregate unpaid principal and accrued but unpaid interest on all loans with at least one installment at least 90 days past-due. ii) The impaired portfolio with or without guarantee as of December 31, 2017 and 2016 is as follows: As of December 31, 2017 2016 Commercial Mortgage Consumer Total Commercial Mortgage Consumer Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Secured debt 582,557 413,716 34,260 1,030,533 519,821 357,320 35,134 912,275 Unsecured debt 430,946 48,828 292,866 772,640 409,348 40,368 253,450 703,166 Total 1,013,503 462,544 327,126 1,803,173 929,169 397,688 288,584 1,615,441 iii) The portfolio of non-performing loans with or without guarantee, as of December 31, 2017 and 2016 is as follows: As of December 31, 2017 2016 Commercial Mortgage Consumer Total Commercial Mortgage Consumer Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Secured debt 167,909 141,413 8,896 318,218 159,965 129,632 8,940 298,537 Unsecured debt 200,613 20,355 94,275 315,243 156,873 17,940 90,781 265,594 Total 368,522 161,768 103,171 633,461 316,838 147,572 99,721 564,131 iv) The portfiolio of non-performing portfolio as of December 31, 2017 and 2016 is as follows: As of December31, 2017 2016 Commercial Mortgage Consumer Total Commercial Mortgage Consumer Total MM$ MM$ MM$ MM$ MM$ MM$ MM$ MM$ Non-performing >90 days 362,968 159,265 92,541 614,774 311,755 145,084 84,458 541,297 Non-performing <90 days 5,554 2,503 10,630 18,687 5,083 2,488 15,263 22,834 Total 368,522 161,768 103,171 633,461 316,838 147,572 99,721 564,131 d) Allowances The changes in allowance balances during 2017 and 2016 are as follows: Activity during 2017 Commercial loans Mortgage loans Consumer loans Total Individual Group Group Group MCh$ MCh$ MCh$ MCh$ MCh$ Balance as of January 1, 2017 246,336 183,106 57,009 300,019 786,470 Allowances established (1) 64,658 148,681 43,621 252,038 508,998 Allowances released (2) (55,925) (20,491) (11,427) (46,089) (133,932) Allowances released due to charge-off (3) (36,279) (92,223) (20,137) (222,212) (370,851) Balances as of December 31, 2017 218,790 219,073 69,066 283,756 790,685 Activity during 2016 Commercial loans Mortgage loans Consumer loans Total Individual Group Group Group MCh$ MCh$ MCh$ MCh$ MCh$ Balance as of January 1, 2016 256,505 174,696 62,427 267,507 761,135 Allowances established (1) 61,002 133,855 50,892 280,544 526,293 Allowances released (2) (43,183) (14,432) (34,246) (30,790) (122,651) Allowances released due to charge-off (3) (27,988) (111,013) (22,064) (217,242) (378,307) Balances as of December 31, 2016 246,336 183,106 57,009 300,019 786,470 (1) Represents gross allowances made in respect of increased risk of loss during the period and loan growth. (2) Represents the gross amount of loan loss allowances released during the year as a consequence of reduction in the level of risk existing in the loan portfolio, including as a result of improvement in the credit risk classification of borrowers and loans paid. (3) Represents the gross amount of loan loss allowances removed due to charge-off. e) Recoveries by type of loan For the years ended December 31, 2017 2016 2015 MCh$ MCh$ MCh$ Commercial loans 32,401 27,185 26,032 Consumer loans 39,972 41,072 35,565 Residential mortgage loans 10,942 10,041 6,543 Total 83,315 78,298 68,140 Recoveries of loans previously charged off are recognized as income in the line item “Provision for loans losses”. We only recognize as a recovery interest and/or principal paid in cash in connection with a loan that has already been charged-off in its entirety. Such recoveries do not have an impact on our allowance for loan losses as these recoveries are for loans that have been already charged-off and recognized as a loss in our income statement and are no longer on-balance sheet. f) Allowances established on customer and interbank loans The following chart shows the balance of allowances established, associated with credits granted to customers and banks: As of December 31, 2017 2016 2015 MCh$ MCh$ MCh$ Customers loans 508,998 526,293 545,056 Interbank loans 307 3,052 1,357 Total 509,305 529,345 546,413 g) Portfolio by its impaired and non-impaired status. As of December 31, 2017 Non-impaired Impaired Portfolio total Commercial Mortgage Consumer Total non impaired Commercial Mortgage Consumer Total impaired Commercial Mortgage Consumer Total portfolio MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Current portfolio 12,737,508 8,357,733 4,012,489 25,107,730 449,895 158,770 110,184 718,849 13,187,403 8,516,503 4,122,673 25,826,579 Overdue for 1-29 days 103,908 180,294 132,136 416,338 110,834 74,072 46,283 231,189 214,742 254,366 178,419 647,527 Overdue for 30-89 days 53,723 96,324 85,941 235,988 89,806 70,437 78,118 238,361 143,529 166,761 164,059 474,349 Overdue for 90 days or more - - - - 362,968 159,265 92,541 614,774 362,968 159,265 92,541 614,774 Total portfolio before allowances 12,895,139 8,634,351 4,230,566 25,760,056 1,013,503 462,544 327,126 1,803,173 13,908,642 9,096,895 4,557,692 27,563,229 Overdue loans (less than 90 days) presented as portfolio percentage 1.22% 3.20% 5.15% 2.53% 19.80% 31.24% 38.03% 26.04% 2.58% 4.63% 7.51% 4.07% Overdue loans (90 days or more) presented as portfolio percentage. - - - - 35.81% 34.43% 28.29% 34.09% 2.61% 1.75% 2.03% 2.23% As of December 31, 2016 Non-impaired Impaired Portfolio total Commercial Mortgage Consumer Total non impaired Commercial Mortgage Consumer Total impaired Commercial Mortgage Consumer Total portfolio MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Current portfolio 12,765,961 7,944,260 3,957,566 24,667,787 463,176 133,816 100,670 697,662 13,229,137 8,078,076 4,058,236 25,365,449 Overdue for 1-29 days 97,302 69,227 113,031 279,560 35,777 12,984 32,536 81,297 133,079 82,211 145,567 360,857 Overdue for 30-89 days 75,033 208,181 87,622 370,836 118,461 105,804 70,920 295,185 193,494 313,985 158,542 666,021 Overdue for 90 days or more - - - - 311,755 145,084 84,458 541,297 311,755 145,084 84,458 541,297 Total portfolio before allowances 12,938,296 8,221,668 4,158,219 25,318,183 929,169 397,688 288,584 1,615,441 13,867,465 8,619,356 4,446,803 26,933,624 Overdue loans (less than 90 days) presented as portfolio percentage 1.33% 3.37% 4.83% 2.57% 16.60% 29.87% 35.85% 23.31% 2.35% 4.60% 6.84% 3.81% Overdue loans (90 days or more) presented as portfolio percentage. - - - - 33.55% 36.48% 29.27% 33.51% 2.25% 1.68% 1.90% 2.01% Reconciliation of overdue loans with non-performing loans As of December 31, 2017 Commercial Mortgage Consumer Total MCh$ MCh$ MCh$ Overdue loans 362,968 159,265 92,541 614,774 Loans with not overdue but classified as non-performing loans 5,554 2,503 10,630 18,687 Total 368,522 161,768 103,171 633,461 As of December 31, 2016 Commercial Mortgage Consumer Total MCh$ MCh$ MCh$ Overdue loans 311,755 145,084 84,458 541,297 Loans with not overdue but classified as non-performing loans 5,083 2,488 15,263 22,834 Total 316,838 147,572 99,721 564,131 |
AVAILABLE FOR SALE INVESTMENTS
AVAILABLE FOR SALE INVESTMENTS | 12 Months Ended |
Dec. 31, 2017 | |
Available For Sale Investments | |
AVAILABLE FOR SALE INVESTMENTS | NOTE 10 AVAILABLE FOR SALE INVESTMENTS As of December 31, 2017 and 2016,detail of instruments deemed as available for sale investments is as follows: As of December 31, 2017 2016 MCh$ MCh$ Chilean central bank and government securities Chilean central bank bonds 816,331 468,386 Chilean central bank notes 330,952 1,222,283 Other Chilean central bank and government securities 1,115,518 52,805 Subtotal 2,262,801 1,743,474 Other Chilean securities Time deposits in Chilean financial institutions 2,361 891,320 Mortgage finance bonds of Chilean financial institutions 22,312 25,488 Other instruments issued in the country 3,000 1,680 Subtotal 27,673 918,488 Foreign financial securities Foreign Central Banks and Government securities 132,822 387,146 Other foreign financial securities 151,250 339,798 Subtotal 284,072 726,944 Total 2,574,546 3,388,906 As of December 31, 2017 and 2016, the line item Chilean central bank and government securities As of December 31, 2017 and 2016, the line item Other Chilean securities As of December 31, 2017 and 2016, the line item Foreign financial securities As of December 31, 2017 available for sale investments included a cumulative net unrealized income of Ch$1,855 million, recorded as a “Valuation adjustment” in Other comprehensive income, distributed between Ch$459 million attributable to the equity holders of the Bank and Ch$1,396 million attributable to non-controlling interest. As of December 31, 2016 available for sale investments included a cumulative net unrealized loss of Ch$7,375 million, recorded as a “Valuation adjustment” in Other comprehensive income, distributed between Ch$6,449 million attributable to the equity holders of the Bank and Ch$926 million attributable to non-controlling interest. Gross profits and losses realized on the sale of available for sale investments as of December 31, 2017, 2016 and 2015, are as follows: For the years ended December 31, 2017 2016 2015 MCh$ MCh$ MCh$ Sale of available for sale investments generating realized profits 6,469,344 6,522,549 2,627,490 Realized profits 4,867 12,333 22,473 Sale of available for sale investments generating realized losses 466.732 346,906 346,450 Realized losses 3 132 72 The Bank evaluated those instruments with unrealized losses as of December 31, 2017 and 2016 and concluded they were not impaired. This review consisted of evaluating the economic reasons for any declines, the credit ratings of the securities’ issuers, and the Bank’s intention and ability to hold the securities until the unrealized loss is recovered. Based on this analysis, the Bank believes that there were no significant or prolonged declines nor changes in credit risk which would cause impairment in its investment portfolio, since most of the decline in fair value of these instruments was caused by market conditions which the Bank considers to be temporary. All of the instruments that have unrealized losses as of December 31, 2017 and 2016, were not in a continuous unrealized loss position for more than one year. The following charts show the available for sale investments cumulative unrealized profit and loss, as of December 31, 2017 and 2016: As of December 31, 2017: Less than 12 months More than 12 months Total Acquisition Fair value Unrealized profit Unrealized loss Acquisition cost Fair value Unrealized profit Unrealized loss Acquisition Fair value Unrealized profit Unrealized loss MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Chilean central bank and government securities Chilean central bank Bonds 816,164 816,331 5,513 (5,346) - - - - 816,164 816,331 5,513 (5,346) Chilean central bank Notes 330,923 330,952 30 (1) - - - - 330,923 330,952 30 (1) Other Chilean central bank and government securities 1,117,447 1,115,518 2,960 (4,888) - - - - 1,117,447 1,115,518 2,960 (4,888) Subtotal 2,264,534 2,262,801 8,503 (10,235) - - - - 2,264,534 2,262,801 8,503 (10,235) Other Chilean securities Time deposits in Chilean financial institutions 2,361 2,361 - - - - - - 2,361 2,361 - - Mortgage finance bonds of Chilean financial institutions 21,867 22,312 445 - - - - - 21,867 22,312 445 - Chilean financial institution bonds - - - - - - - - - - - - Chilean corporate bonds - - - - - - - - - - - - Other Chilean securities 220 3,000 2,780 - - - - - 220 3,000 2,780 - Subtotal 24,448 27,673 3,225 - - - - - 24,448 27,673 3,225 - Foreign financial securities Foreign central banks and government securities 133,301 132,822 847 (1,326) - - - - 133,301 132,822 847 (1,326) Other foreign financial securities 150,408 151,250 1,097 (256) - - - - 150,408 151,250 1,097 (256) Subtotal 283,709 284,072 1,944 (1,582) - - - - 283,709 284,072 1,944 (1,582) Total 2,572,691 2,574,546 13,672 (11,817) - - - - 2,572,691 2,574,546 13,672 (11,817) As of December 31, 2016: Less than 12 months More than 12 months Total Acquisition cost Fair value Unrealized profit Unrealized loss Acquisition cost Fair value Unrealized profit Unrealized loss Acquisition cost Fair value Unrealized profit Unrealized loss MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Chilean central bank and government securities Chilean central bank Bonds 461,793 468,386 6,612 (19) - - - - 461,793 468,386 6,612 (19) Chilean central bank notes 1,222,263 1,222,283 23 (3) - - - - 1,222,263 1,222,283 23 (3) Other Chilean central bank and government securities 52,411 52,805 394 - - - - - 52,411 52,805 394 - Subtotal 1,736,467 1,743,474 7,029 (22) - - - - 1,736,467 1,743,474 7,029 (22) Other Chilean securities Time deposits in Chilean financial institutions 891,276 891,320 108 (64) - - - - 891,276 891,320 108 (64) Mortgage finance bonds of Chilean financial institutions 25,021 25,488 469 (2) - - - - 25,021 25,488 469 (2) Chilean financial institution bonds - - - - - - - - - - - - Chilean corporate bonds - - - - - - - - - - - - Other Chilean securities 220 1,680 1,460 - - - - - 220 1,680 1,460 - Subtotal 916,517 918,488 2,037 (66) - - - - 916,517 918,488 2,037 (66) Foreign financial securities Foreign central banks and government securities 387,077 387,146 69 - - - - - 387,077 387,146 69 - Other foreign financial securities 341,470 339,798 655 (2,327) - - - - 341,470 339,798 655 (2,327) Subtotal 728,547 726,944 724 (2,327) - - - - 728,547 726,944 724 (2,327) Total 3,381,531 3,388,906 9,790 (2,415) - - - - 3,381,531 3,388,906 9,790 (2,415) |
INVESTMENTS IN ASSOCIATES AND O
INVESTMENTS IN ASSOCIATES AND OTHER COMPANIES | 12 Months Ended |
Dec. 31, 2017 | |
Investments In Associates And Other Companies | |
INVESTMENTS IN ASSOCIATES AND OTHER COMPANIES | NOTE 11 INVESTMENTS IN ASSOCIATES AND OTHER COMPANIES a) Investments in associates and other, are shown in the following table: Investment Ownership interest As of December 31 Investment value As of December 31, Profit and loss As of December 31, 2017 MCh$ 2016 MCh$ 2015 MCh$ 2017 MCh$ 2016 MCh$ 2017 MCh$ 2016 MCh$ 2015 MCh$ Company Redbanc S.A. 33.43 33.43 33.43 2,537 2,184 353 373 215 Transbank S.A. 25.00 25.00 25.00 14,534 12,510 2,024 1,302 1,256 Centro de Compensación Automatizado 33.33 33.33 33.33 1,589 1,353 236 248 212 Sociedad Interbancaria de Depósito de Valores S.A. 29.29 29.29 29.29 1,087 235 195 213 Cámara de Compensación de Alto Valor S.A. (1,2&3) 15.00 14.93 14.23 909 866 66 98 127 Administrador Financiero del Transantiago S.A. 20.00 20.00 20.00 3,098 2,781 317 230 323 Sociedad Nexus S.A. 12.90 12.90 12.90 1,911 1,469 442 247 225 Servicios de Infraestructura de Mercado OTC S.A. (1&2) 12.07 12.07 11.11 1,489 1,378 115 132 (115) Subtotal 27,154 23,479 3,788 2,825 2,456 Shares or rights in other companies (*) Bladex 136 136 25 26 25 Stock Exchanges 287 157 150 161 107 Others 8 8 - - - Total 27,585 23,780 3,963 3,012 2,5 (*) Investments in associates and other companies do not have market prices. (1) During the third quarter of 2016, Banco Penta ceded to Banco Santander a portion of its interest in the companies "Sociedad Operadora de la Cámara de Compensación de pagos de Alto Valor SA" and "Servicios de Market Infrastructure OTC SA ", the Bank's share in those companies increased to 14.84% and 11.93% respectively. (2) During the last quarter of 2016, Banco Penta ceded to Banco Santander a portion of its interest in the companies "Sociedad Operadora de la Cámara de Compensación de pagos de Alto Valor SA" and "Servicios de Market Infrastructure OTC SA ", the Bank's share in those companies increased to 14.93% and 12.07% respectively. (3) In February 2017, Banco Paris sold to Banco Santander a portion of its interest in the companies "Sociedad Operadora de la Cámara de Compensación de pagos de Alto Valor SA", the Bank's share increased to 15.00% (4) In October 2015, HSBC Bank Chile sold its ownership share in Camara de Compensación de Pagos de Alto Valor S.A. to Banco Santander Chile, increasing our participation to 14.23%. b) As of December 31, 2017 2016 2015 Net income Net income Net income Assets Liabilities Equity Assets Liabilities Equity Assets Liabilities Equity MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Centro de Compensación Automatizado 6,871 2,174 3,989 708 5,508 1,523 3,241 744 5,148 1,897 2,616 635 Redbanc S.A. 21,235 13,751 6,428 1,056 19,927 13,505 5,307 1,115 20,296 14,877 4,777 642 Transbank S.A. 822,487 765,683 48,709 8,095 710,475 660,957 44,309 5,209 601,627 561,325 35,278 5,024 Sociedad Interbancaria de Depósito de Valores S.A. 3,720 60 2,858 802 3,204 103 2,435 666 2,714 58 2,093 563 Sociedad Nexus S.A. 32,669 18,888 10,354 3,427 30,038 19,229 8,898 1,911 23,153 13,682 7,730 1,741 Servicios de Infraestructura de Mercado OTC S.A. 17,913 6,414 10,963 536 29,258 18,258 9,906 1,094 17,631 7,800 10,869 (1,038) Administrador Financiero del Transantiago S.A. 51,304 35,814 13,907 1,583 54,253 40,345 12,758 1,150 42,518 29,760 11,145 1,613 Cámara de Compensación de Alto Valor S.A. 6,338 500 5,399 439 6,099 627 4,815 657 5,730 775 4,066 889 Total 962,537 843,284 102,607 16,646 858,762 754,547 91,669 12,546 718,817 630,174 78,574 10,069 c) Restrictions over the ability of associated companies to transfer funds to investors. There are no significant restrictions regarding the capacity of associates to transfer funds, whether in cash dividends, refund of loans, or advance payments to the Bank. d) Activity with respect to investments in other companies during 2017, 2016 and 2015 is as follows: As of December 31, 2017 2016 2015 MCh$ MCh$ MCh$ Opening balance as of January 1, 23,780 20,309 17,914 Acquisition of investments (*) 3 1,123 302 Sale of investments - - - Participation in income 3,962 3,012 2,588 Dividends received (116) (217) (278) Other equity adjustments (44) (447) (217) Total 27,585 23,780 20,309 (*) See reference, part a) of this note. |
INTANGIBLE ASSETS
INTANGIBLE ASSETS | 12 Months Ended |
Dec. 31, 2017 | |
Intangible Assets | |
INTANGIBLE ASSETS | NOTE 12 INTANGIBLE ASSETS a) As of December 31, 2017 Years of useful life Average remaining useful life Net opening balance as of January 1, 2015 Gross balance Accumulated amortization Net balance MCh$ MCh$ MCh$ MCh$ Licenses 3 1 1,656 10,932 (9,732) 1,200 Software development 3 2 56,429 314,115 (252,096) 62,019 Total 58,085 325,047 (261,828) 63,219 As of December 31, 2016 Years of useful life Average remaining useful life Net opening balance as of January 1, 2014 Gross balance Accumulated amortization Net balance MCh$ MCh$ MCh$ MCh$ Licenses 3 2 2,060 10,932 (9,276) 1,656 Software development 3 2 49,077 286,781 (230,352) 56,429 Total 51,137 297,713 (239,628) 58,085 b) 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 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 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) c) The Bank has no restriction on intangible assets as of December 31, 2017 and 2016. Additionally, the intangibles assets have not been pledged as guarantee for fulfillment of financial liabilities. Also, the Bank has no debt related to Intangible assets as of those dates. |
PROPERTY, PLANT, AND EQUIPMENT
PROPERTY, PLANT, AND EQUIPMENT | 12 Months Ended |
Dec. 31, 2017 | |
Property, plant and equipment [abstract] | |
PROPERTY, PLANT, AND EQUIPMENT | NOTE 13 PROPERTY, PLANT, AND EQUIPMENT a) As of December 31, 2017 Net opening balance as of January 1, 2017 Gross balance Accumulated depreciation Net balance MCh$ MCh$ MCh$ MCh$ Land and buildings 169,809 274,079 (114,727) 159,352 Equipment 66,506 193,689 (130,173) 63,516 Ceded under operating leases 4,230 4,888 (667) 4,221 Other 16,834 60,822 (45,364) 15,458 Total 257,379 533,478 (290,931) 242,547 As of December 31, 2016 Net opening balance as of January 1, 2016 Gross balance Accumulated depreciation Net balance MCh$ MCh$ MCh$ MCh$ Land and buildings 158,434 264,016 (94,207) 169,809 Equipment 59,908 168,124 (101,618) 66,506 Ceded under operating leases 4,238 4,888 (658) 4,230 Other 18,079 55,973 (39,139) 16,834 Total 240,659 493,001 (235,622) 257,379 b) The changes in the value of property, plant, and equipment as of December 31, 2017 and 2016 is as follows: b. 1) 2017 Land and buildings Equipment Ceded under operating leases Other Total MCh$ MCh$ MCh$ MCh$ MCh$ Balances as of January 1, 2017 264,016 168,124 4,888 55,973 493,001 Additions 27,592 26,278 - 4,902 58,772 Disposals (17,529) (359) - (53) (17,941) Impairment due to damage - (354) - - (354) Other - - - - 0 Balances as of December 31, 2017 274,079 193,689 4,888 60,822 533,478 2016 Land and buildings Equipment Ceded under operating leases Other Total MCh$ MCh$ MCh$ MCh$ MCh$ Balances as of January 1, 2016 237,449 137,621 4,888 51,482 431,440 Additions 26,567 30,965 - 4,823 62,355 Disposals - (228) - (332) (560) Impairment due to damage - (234) - - (234) Other - - - - - Balances as of December 31, 2016 264,016 168,124 4,888 55,973 493,001 b. 2) 2017 Land and buildings Equipment Ceded under operating leases Other Total MCh$ MCh$ MCh$ MCh$ MCh$ Balances as of January 1, 2017 (94,207) (101,618) (658) (39,139) (235,622) Depreciation charges in the period (20,744) (28,592) (9) (6,277) (55,622) Sales and disposals in the period 224 37 - 52 313 Transfers - - - - 0 Other - - - - 0 Balances as of December 31, 2017 (114,727) (130,173) (667) (45,364) (290,931) 2016 Land and buildings Equipment Ceded under operating leases Other Total MCh$ MCh$ MCh$ MCh$ MCh$ Balances as of January 1, 2016 (79,015) (77,713) (650) (33,403) (190,781) Depreciation charges in the period (15,192) (23,976) (8) (5,849) (45,025) Sales and disposals in the period - 71 - 113 184 Transfers - - - - - Other - - - - - Balances as of December 31, 2016 (94,207) (101,618) (658) (39,139) (235,622) c) Operational leases – lessor As of December 31, 2017 and 2016, the future minimum lease cash inflows under non-cancellable operating leases are as follows: As of December 31, 2017 2016 MCh$ MCh$ Due within 1 year 567 506 Due after 1 year but within 2 years 749 1,029 Due after 2 years but within 3 years 480 502 Due after 3 years but within 4 years 348 473 Due after 4 years but within 5 years 308 344 Due after 5 years 1,792 2,067 Total 4,244 4,921 Operational leases – lessee Certain Bank’s premises and equipment are leased under various operating leases. Future minimum rental payments under non-cancellable leases are as follows: As of December 31, 2017 2016 MCh$ MCh$ Due within 1 year 26,059 26,455 Due after 1 year but within 2 years 21,343 24,903 Due after 2 year but within 3 years 18,091 20,582 Due after 3 years but within 4 years 15,736 17,321 Due after 4 years but within 5 years 12,734 14,569 Due after 5 years 51,502 53,694 Total 145,465 157,524 e) As of December 31, 2017 and 2016, the Bank has no financial leases which cannot be unilaterally rescinded. f) The Bank has no restriction on property, plant and equipment as of December 31, 2017 and 2016. Additionally, the property, plant and equipment have not been provided as guarantees of financial liabilities. The Bank has no debt in connection with property, plant and equipment. |
CURRENT AND DEFERRED TAXES
CURRENT AND DEFERRED TAXES | 12 Months Ended |
Dec. 31, 2017 | |
Current And Deferred Taxes Details 2 | |
CURRENT AND DEFERRED TAXES | NOTE 14 CURRENT AND DEFERRED TAXES a) Current taxes As of December 31, 2017 and 2016, the Bank recognizes taxes payable (recoverable), which is determined based on the currently applicable tax legislation. This amount is recorded net of recoverable taxes, and is shown as follows: As of December 31, 2017 2016 MCh$ MCh$ Summary of current tax liabilities (assets) Current tax (assets) - - Current tax liabilities 6,435 29,294 Total tax payable (recoverable) 6,435 29,294 (Assets) liabilities current taxes detail (net) Income tax, tax rate(*) 145,112 145,963 Minus: Provisional monthly payments (136,562) (113,700) Credit for training expenses (1,768) (1,972) Land taxes leasing - - Grant credits (968) (1,079) Other 621 82 Total tax payable (recoverable) 6,435 29,294 (*)The tax rate is 25.5% for 2017 and 24.0% for 2016. b) Effect on income The effect of tax expense on income for the years ended December 31, 2017 and 2016 is comprised of the following items: As of December 31, 2017 2016 2015 MCh$ MCh$ MCh$ Income tax expense Current tax 145,112 145,963 121,775 Credits (debits) for deferred taxes Origination and reversal of temporary differences (6,751) (37,269) (45,672) Valuation provision 5,955 Subtotals 144,316 108,694 76,103 Tax for rejected expenses (Article No.21) 610 336 340 Other 105 1 (48) Net charges for income tax expense 145,031 109,031 76,395 c) Effective tax rate reconciliation The reconciliation between the income tax rate and the effective rate applied in determining tax expenses as of December 31, 2017, 2016 and 2015, is as follows: Fort he year ended December 31, 2017 2016 2015 Tax rate Amount Tax rate Amount Tax rate Amount % MCh$ % MCh$ % MCh$ Tax calculated over profit before tax 25.50 183,671 24.00 140,991 22.50 118,828 Price level restatement for tax purposes (1) (3.03) (21,829) (5.49) (32,256) (5.42) (28,630) Single penalty tax (rejected expenses) 0.08 610 0.06 336 0.06 340 Effect of tax reform changes on deferred tax (2) (2.86) (20,600) 0.01 86 (2.01) (10,600) Real estate taxes 0.00 - 0.00 - (0.73) (3,853) Other 0.44 3,179 (0.02) (126) 0.06 310 Effective rates and expenses for income tax 20.13 145,031 18.56 109,031 14.46 76,395 (1) Price level restatement on tax purpose capital d) Effect of deferred taxes on comprehensive income Below is a summary of the separate effect of deferred tax on other comprehensive income, showing the asset and liability balances, for the years ended December 31, 2017 and 2016: As of December 31, 2017 2016 MCh$ MCh$ Deferred tax assets Available for sale investments 368 3,266 Cash flow hedges 908 - Total deferred tax assets recognized through other comprehensive income 1,276 3,266 Deferred tax liabilities Available for sale investments (841) (5,036) Cash flow hedges - (549) Total deferred tax liabilities recognized through other comprehensive income (841) (5,585) Net deferred tax balances in equity 435 (2,319) Deferred taxes in equity attributable to equity holders of the Bank 791 (2,097) Deferred tax in equity attributable to non-controlling interests (356) (222) e) Effect of deferred taxes on income As of December 31, 2017 and 2016, the Bank has recorded effects for deferred taxes in the financial statements. As of December 31, 2017 2016 MCh$ MCh$ Deferred tax assets Interests and adjustments 8,645 9,473 Non-recurring charge-offs 11,651 9,891 Assets received in lieu of payment 1,582 2,999 Exchange rate adjustments 882 - Property, plant and equipment valuation 4,410 4,570 Allowance for loan losses 160,359 163,456 Provision for expenses 73,518 67,073 Leased assets 98,090 71,834 Subsidiaries tax losses 5,277 9,467 Prepaid expenses 151 - Other 5,249 17,571 Total deferred tax assets 369,814 356,334 Deferred tax liabilities Valuation of investments (1,911) (1,802) Depreciation (532) - Valuation proviision (5,955) - Other (432) (299) Total deferred tax liabilities (8,830) (2,101) f) Summary of deferred tax assets and liabilities Below is a summary of the deferred taxes impact on equity and income. As of December 31, 2017 2016 MCh$ MCh$ Deferred tax assets Recognized through other comprehensive income 1,276 3,266 Recognized through profit or loss 369,815 356,334 Total deferred tax assets 371,091 359,600 Deferred tax liabilities Recognized through other comprehensive income (841) (5,585) Recognized through profit or loss (8,822) (2.101) Total deferred tax liabilities (9,663) (7.686) |
OTHER ASSETS
OTHER ASSETS | 12 Months Ended |
Dec. 31, 2017 | |
Other Assets | |
OTHER ASSETS | NOTE 15 OTHER ASSETS Other assets item includes the following: As of December 31, 2017 2016 MCh$ MCh$ Assets for leasing (1) 48,099 44,840 Assets received or awarded in lieu of payment Assets received in lieu of payment 20,904 26,598 Assets awarded at judicial sale 24,800 26,895 Provision on assets received in lieu of payment or awarded (1,440) (7,558) Subtotal 44,264 45,935 Other assets Guarantee deposits (margin accounts) (2) 323,767 396,289 Gold investments 478 446 VAT credit 9,570 8,941 Income tax recoverable 1,381 22,244 Prepaid expenses 116,512 148,288 Assets recovered from leasing for sale 4,235 6,040 Pension plan assets 921 1,637 Accounts and notes receivable 59,574 56,624 Notes receivable through brokerage and simultaneous transactions 68,272 60,632 Other receivable assets 53,500 15,082 Other assets (3) 33,837 40,274 Subtotal 672,047 756,497 Total 764,410 847,272 (1) Assets available to be granted under the financial leasing agreements. (2) Guarantee deposits (margin accounts) correspond collaterals associated with derivative financial contracts to mitigate the counterparty credit risk and are mainly established in cash. These guarantees operate when mark to market of derivative financial instruments exceed the levels of threshold agreed in the contracts, which could result the the Bank deliver or receive collateral. (3) Other assets mainly include settlement of derivatives and other financial transactions. |
TIME DEPOSITS AND OTHER TIME LI
TIME DEPOSITS AND OTHER TIME LIABILITIES | 12 Months Ended |
Dec. 31, 2017 | |
Time Deposits And Other Time Liabilities | |
TIME DEPOSITS AND OTHER TIME LIABILITIES | NOTE 16 TIME DEPOSITS AND OTHER TIME LIABILITIES As of December 31, 2017 and 2016, the composition of the line item time deposits and other liabilities is as follows: As of December 31, 2017 2016 MCh$ MCh$ Deposits and other demand liabilities Checking accounts 6,272,656 6,144,688 Other deposits and demand accounts 590,221 564,966 Other demand liabilities 905,289 829,661 Total 7,768,166 7,539,315 Time deposits and other time liabilities Time deposits 11,792,466 13,031,319 Time savings account 116,179 116,451 Other time liabilities 5,300 3,939 Total 11,913,945 13,151,709 |
INTERBANK BORROWINGS
INTERBANK BORROWINGS | 12 Months Ended |
Dec. 31, 2017 | |
Interbank Borrowings | |
INTERBANK BORROWINGS | NOTE 17 INTERBANK BORROWINGS As of December 31, 2017 and 2016 the line item Interbank borrowings is as follows: As of December 31, 2017 2016 MCh$ MCh$ Loans from financial institutions and the Central Bank of Chile Other obligations with Central Bank of Chile 5 7 Subtotal 5 7 Loans from domestic financial institutions 480 365,436 Loans from foreign financial institutions Sumitomo Mitsui Banking Corporation 259,199 233,060 Wells Fargo Bank N.A. 235,058 113,631 Bank Of America N.A. 228,309 - Standard Chartered Bank 225,966 101,874 Mizuho Bank Ltd. NY. 215,967 - Citibank N.A. 191,471 183,193 The Bank of Nova Scotia 86,419 39,967 The Toronto-Dominion Bank 62,743 - Corporación Andina De Fomento 31,075 - Barclays Bank PLC London 30,886 33,279 HSBC Bank Plc NY 30,875 33,214 The Bank of New York Mellon 30,839 82,594 Hsbc Bank Plc 30,838 - European Investment Bank 12,629 13,980 Banco Santander – Hong Kong 8,341 6,165 Banco Santander Brasil S.A. 5,225 5,175 Bank Austria A.G. 2,317 - Bank of China 823 311 Shanghai Pudong Development 714 205 Bank of Tokyo Mitsubishi 453 430 Keb Hana Bank 396 301 Shinhan Bank 394 354 Thai Military Bank Public Comp 377 425 Hua Nan Commercial Bank Ltd. 349 83 Mizuho Corporate Bank 331 411,753 Banco Santander Central Hispano 312 - Agricultural Bank of China 295 327 Banco de Occidente 282 - Banco Do Brasil S.A. 268 120 Unicredito Italiano 264 - Bank of East Asia, Limited 241 54 Canara Bank 224 91 Hong Kong and Shanghai Banking 222 889 International Commercial Bank 221 - Banque Generale Du Luxembourg 207 138 Kookmin Bank 201 317 Zhejiang Commercial Bank Ltd. 175 - Banca Monte dei Paschi di Siena 162 309 Taiwan Cooperative Bank 159 - Deutsche Bank A.G. 157 - Yapi Ve Kredi Bankasi A.S. 155 73 J.P. Morgan Chase Bank N.A. 154 49 Banco Commerzbank 145 47 Bank of Taiwan 136 183 Industrial And Commercial Bank 119 - Bank Of Nova Scotia 112 - State Bank of India 110 289 Woori Bank 105 153 Bancolombia S.A. 94 31 Bank of Communications 93 393 Cassa Di Risparmio Di Parma E 93 132 China Construcción Bank 90 1,044 Metropolitan Bank Limited 87 26 Banca Delle Marche Spa 76 31 Australia And New Zealand Bank 62 21 Abanca Corporacion Bancaria SA 60 - Casa Di Risparmo De Padova E.R. 56 76 Societe Generale 56 - Hanvit Bank 55 76 Banca Popolare Dell'Emilia Rom 53 26 Banco Bradesco S.A. 50 113 Punjab National Bank 47 - Citic Industrial Bank 39 - Hang Seng Bank Ltd. 39 - Subtotal 1,697,470 1,265,002 As of December 31, 2017 2016 MCh$ MCh$ Loans from foreign financial institutions, continuación Hsbc Bank Usa 38 - First Union National Bank 35 226 Habib Bank Limited 34 105 Banco Caixa Geral. 33 - Banco Internacional S.A. 33 - Banca Commerciale Italiana S.P. 31 - Bank of Montreal 30 201 Kasikornbank Public Company Li. 25 - Citibank N.A. Turkiye Merkez S. 23 158 Liu Chong Hing Bank Limited 21 - Banco Popular Espanol S.A. 19 56 Taiwan Business Bank 19 - Fortis Bank S.A./N.V. Brussels 15 12 Chang Hwa Commercial Bank Ltd. 14 17 Banco De Sabadell S.A. 10 - Bank Of China Guangdong Branch 8 14 Icici Bank Limited 8 25 Banco Popolare Soc Coop 6 5 Bank of America - 213,200 NTT Docomo Ibc - 33,149 Zurcher Kantonal Bank - 20,021 Banque Bruxelles Lambert S.A. - 5,797 Banque Cantonale Vaudoise - 5,714 Denizbank A.S. - 347 Banco Santander – Madrid - 322 Unicredito Italiano - 302 Taipei Bank - 260 ING Bank N.V. - Vienna - 228 Westpac Banking Corporation - 226 BNP Paribas S.A. - 218 Oriental Bank of Commerce - 132 Kotak Mahindra Bank Limited - 129 Caixabank S.A. - 93 Development Bank Of Singapore - 80 Hsbc France (formerly Hsbc Ccf) - 74 Banco General S.A. - 62 Banco De Crédito Del Perú - 58 Hsbc Bank Canada - 47 Finans Bank A.S. - 46 Bangkok Bank Public Company Li. - 42 United Bank of India - 39 Banco Bolivariano C.A. - 38 Banco Bilbao Vizcaya Argentaria - 34 Hsbc Bank Brasil S.A. - Banco - 34 Banca Popolare Di Vicenza Scpa - 31 Bayerische Hypo- Und Vereinsba - 27 Banco Itau - 25 China Merchants Bank - 22 Hsbc Bank Middle East - 21 Banca Lombarda E Piemontese S. - 21 Export-Import Bank Of Thailand - 20 Cassa Di Risparmio In Bologna - 20 Fifth Third Bank - 15 Hdfc Bank Limited - 13 Union Bank of India - 10 Intesa Sanpaolo Spa - 7 Deutsche Bank Sociedad Anonima - 6 Industrial Bank of Korea - 5 Otros - 4,169 Subtotal 1,697,872 1,550,925 Total 1,698,357 1,916,368 a) Obligations with Central Bank of Chile Debts to the Central Bank of Chile include credit lines for renegotiation of loans and other borrowings. These credit lines were provided by the Central Bank of Chile for renegotiation of loans due to the need to refinance debt as a result of the economic recession and crisis of the banking system in the early 1980s. The outstanding amounts owed to the Central Bank of Chile under these credit lines are as follows: As of December 31, 2017 2016 MCh$ MCh$ Totals Line of credit for renegotiation with Central Bank of Chile 5 7 b) Loans from domestic financial institutions These obligations’ maturities are as follows: As of December 31, 2017 2016 MCh$ MCh$ Due within 1 year 480 365,436 Due within 1 and 2 year - - Due within 2 and 3 year - - Due within 3 and 4 year - - Due after 5 years - - Total loans from domestic financial institutions 480 365,436 c) Foreign obligations As of December 31, 2017 2016 MCh$ MCh$ Due within 1 year 1,477,318 525,521 Due within 1 and 2 year 185,519 725,315 Due within 2 and 3 year 35,035 186,352 Due within 3 and 4 year - 80,473 Due after 5 years - 33,264 Total loans from foreign financial institutions 1,697,872 1,550,925 |
ISSUED DEBT INSTRUMENTS AND OTH
ISSUED DEBT INSTRUMENTS AND OTHER FINANCIAL LIABILITIES | 12 Months Ended |
Dec. 31, 2017 | |
Issued Debt Instruments And Other Financial Liabilities | |
ISSUED DEBT INSTRUMENTS AND OTHER FINANCIAL LIABILITIES | NOTE 18 ISSUED DEBT INSTRUMENTS AND OTHER FINANCIAL LIABILITIES As of December 31, 2017 and 2016, composition of this item is as follows: As of December 31, 2017 2016 MCh$ MCh$ Other financial liabilities Obligations to public sector 59,470 61,490 Other domestic obligations 175,389 175,028 Foreign obligations 7,171 3,498 Subtotals 242,030 240,016 Issued debt instruments Mortgage finance bonds 34,479 46,251 Senior bonds 6,186,760 6,416,274 Mortgage bond 99,222 104,182 Subordinated bonds 773,192 759,665 Subtotals 7,093,653 7,326,372 Total 7,335,683 7,566,388 Debts classified as current are either demand obligations or will mature in one year or less. All other debts are classified as non-current. The Bank’s debts, both current and non-current, are summarized below: As of December 31, 2017 Current Non-current Total MCh$ MCh$ MCh$ Mortgage finance bonds 8,691 25,788 34,479 Senior bonds 337,166 5,849,594 6,186,760 Mortgage bond 4,541 94,681 99,222 Subordinated bonds 3 773,189 773,192 Issued debt instruments 350,401 6,743,252 7,093,653 Other financial liabilities 212,825 29,205 242,030 Total 563,226 6,772,457 7,335,683 As of December 31, 2016 Current Non-current Total MCh$ MCh$ MCh$ Mortgage finance bonds 11,236 35,015 46,251 Senior bonds 1,135,713 5,280,561 6,416,274 Mortgage bond 4,318 99,864 104,182 Subordinated bonds 4 759,661 759,665 Issued debt instruments 1,151,271 6,175,101 7,326,372 Other financial liabilities 158,488 81,528 240,016 Total 1,309,759 6,256,629 7,566,388 a) Mortgage finance bonds These bonds are used to finance mortgage loans. Their principal amounts are amortized on a quarterly basis. The range of maturities of these bonds is between five and twenty years. Loans are indexed to UF and create a yearly interest yield of 5.41% as of December 31, 2017 (5.53% as of December 31, 2016). As of December 31, 2017 2016 MCh$ MCh$ Due within 1 year 8,691 11,236 Due after 1 year but within 2 years 6,744 8,673 Due after 2 year but within 3 years 6,096 6,928 Due after 3 year but within 4 years 5,155 6,246 Due after 4 year but within 5 years 4,101 5,278 Due after 5 years 3,692 7,890 Total mortgage bonds 34,479 46,251 b) Senior bonds The following table shows senior bonds by currency: As of December 31, 2017 2016 MCh$ MCh$ Santander bonds in UF 3,542,006 3,588,373 Santander bonds in USD 1,045,465 909,354 Santander bonds in CHF 268,281 568,549 Santander bonds in Ch$ 1,135,527 1,037,515 Santander bonds in AUD 14,534 60,890 Current bonds in JPY 126,059 179,426 Santander bonds in EUR 54,888 72,167 Total senior bonds 6,186,760 6,416,274 i. Placement of senior bonds: In 2017, the Bank issued bonds for UF 10,000,000; CLP 160,000,000,000; USD 770,000,000; and AUD 30,000,000 detailed as follows: Series Currency Amount Term Issuance rate Series approval date Series amount Maturity date T9 UF 5,000,000 7.0 2.60% 01-02-2016 5,000,000 01-02-2024 T13 UF 5,000,000 9.0 2.75% 01-02-2016 5,000,000 01-02-2026 Total UF 10,000,000 10,000,000 SD CLP 60,000,000,000 5.0 5.50% 01-06-2014 200,000,000,000 01-06-2019 T16 CLP 100,000,000,000 6.0 5.20% 01-02-2016 100,000,000,000 01-08-2021 Total CLP 160,000,000,000 300,000,000,000 DN USD 100,000,000 3.0 Libor-USD 3M+0.80% 20-07-2017 100,000,000 27-07-2020 DN USD 50,000,000 3.0 Libor-USD 3M+0.80% 21-07-2017 50,000,000 27-07-2020 DN USD 50,000,000 3.0 Libor-USD 3M+0.80% 24-07-2017 50,000,000 27-07-2020 DN USD 10,000,000 4.0 Libor-USD 3M+0.83% 23-08-2017 10,000,000 23-11-2021 DN USD 10,000,000 4.0 Libor-USD 3M+0.83% 23-08-2017 10,000,000 23-11-2021 DN USD 50,000,000 3.0 Libor-USD 3M+0.75% 14-09-2017 50,000,000 15-09-2020 DN USD 500,000,000 3.0 2.50% 12-12-2017 500,000,000 15-12-2020 Total USD 770,000,000 770,000,000 AUD AUD 30,000,000 10.0 3.96% 05-12-2017 30,000,000 12-12-2027 Total AUD 30,000,000 30,000,000 During 2017, the Bank performed a partial repurchase of the following bonds: Date Type Currency Amount 06-03-2017 Senior USD 6,900,000 12-05-2017 Senior UF 1,000,000 16-05-2017 Senior UF 690,000 17-05-2017 Senior UF 15,000 26-05-2017 Senior UF 340,000 01-06-2017 Senior UF 590,000 02-06-2017 Senior UF 300,000 05-06-2017 Senior UF 130,000 19-06-2017 Senior UF 265,000 10-07-2017 Senior UF 770,000 21-07-2017 Senior UF 10,000 28-08-2017 Senior UF 200,000 28-08-2017 Senior UF 200,000 29-08-2017 Senior UF 2,000 29-08-2017 Senior UF 270,000 03-11-2017 Senior UF 14,000 29-11-2017 Senior UF 400,000 06-12-2017 Senior UF 20,000 12-12-2017 Senior CLP 10,990,000,000 In 2016, the Bank issued bonds for UF 62,000,000; CLP 590,000,000,000; JPY 3,000,000,000; USD 215,000,000; EUR 104,000,000; and CHF 125,000,000 detailed as follows: Series Currency Amount Term Issuance rate Series approval date date Series maximum amount Maturity date R1 UF 15,000,000 5.5 2.50% 01-09-2015 15,000,000 01-03-2021 R2 UF 10,000,000 7.5 2.60% 01-09-2015 10,000,000 01-03-2023 R3 UF 10,000,000 10.5 3.00% 01-09-2015 10,000,000 01-03-2026 R5 UF 7,000,000 7.0 2.55% 01-12-2015 7,000,000 01-12-2022 R6 UF 7,000,000 9.0 2.65% 01-12-2015 7,000,000 01-12-2024 P9 UF 3,000,000 10.5 2.60% 01-03-2015 5,000,000 01-09-2025 T2 UF 5,000,000 4.5 2.25% 01-02-2016 5,000,000 01-08-2020 T5 UF 5,000,000 6.0 2.40% 01-02-2016 5,000,000 01-02-2022 Total UF 62,000,000 R4 CLP 100,000,000,000 5.5 5.50% 01-09-2015 100,000,000,000 01-03-2021 P4 CLP 50,000,000,000 5.0 4.80% 01-03-2015 150,000,000,000 01-03-2020 SD CLP 140,000,000,000 5.0 5.50% 01-06-2014 200,000,000,000 01-06-2019 SC CLP 200,000,000,000 10.0 5.95% 01-06-2014 200,000,000,000 01-06-2024 P3 CLP 50,000,000,000 7.0 5.50% 01-01-2015 50,000,000,000 01-01-2022 P1 CLP 50,000,000,000 10.0 5.80% 01-01-2015 50,000,000,000 01-01-2025 Total CLP 590,000,000,000 JPY JPY 3,000,000,000 5.0 0.115% 22-06-2016 3,000,000,000 29-06-2021 Total JPY 3,000,000,000 DN USD 10,000,000 5.0 Libor-USD 3M+1.05% 02-06-2016 10,000,000 09-06-2021 DN USD 10,000,000 5.0 Libor-USD 3M+1.22% 08-06-2016 10,000,000 17-06-2021 DN USD 10,000,000 5.0 Libor-USD 3M+1.20% 01-08-2016 10,000,000 16-08-2021 DN USD 185,000,000 5.0 Libor-USD 3M+1.20% 10-11-2016 185,000,000 28-11-2021 Total USD 215,000,000 EUR EUR 54,000,000 12.0 1.307% 05-08-2016 54,000,000 17-08-2028 EUR EUR 20,000,000 8.0 0.80% 04-08-2016 20,000,000 19-08-2024 EUR EUR 30,000,000 3.0 0.25% 09-12-2016 30,000,000 20-12-2019 Total EUR 104,000,000 CHF CHF 125,000,000 8.5 0.35% 14-11-2016 125,000,000 30-05-2025 Total CHF 125,000,000 During 2016, the Bank performed a partial repurchase of the following bond: Date Type Currency Amount 13-01-2016 Senior USD 600,000 27-01-2016 Senior USD 960,000 08-03-2016 Senior USD 418,853,000 08-03-2016 Senior USD 140,104,000 10-05-2016 Senior USD 10,000,000 29-11-2016 Senior USD 6,895,000 ii. The maturities of senior bonds are as follows: As of December 31, 2017 2016 MCh$ MCh$ Due within 1 year 337,166 1,135,713 Due after 1 year but within 2 years 866,936 321,509 Due after 2 year but within 3 years 832,978 816,919 Due after 3 year but within 4 years 1,177,081 663,289 Due after 4 year but within 5 years 902,647 754,768 Due after 5 years 2,069,952 2,724,076 Total senior bonds 6,186,760 6,416,274 c) Mortgage bonds Detail of mortgage bonds per currency is as follows: As of December 31, 2017 2016 MCh$ MCh$ Mortgage bonds in UF 99,222 104,182 Total mortgage bonds 99,222 104,182 i. Allocation of mortgage bonds During 2017 and 2016, the Bank has not placed any mortgage bonds. ii. The maturities of Mortgage bonds are as follows: As of December 31, 2017 2016 MCh$ MCh$ Due within 1 year 4,541 4,318 Due after 1 year but within 2 years 7,291 6,932 Due after 2 year but within 3 years 7,526 7,156 Due after 3 year but within 4 years 7,769 7,386 Due after 4 year but within 5 years 8,019 7,626 Due after 5 years 64,076 70,764 Total Mortgage bonds 99,222 104,182 d) Subordinated bonds Detail of the subordinated bonds per currency is as follows: As of December 31, 2017 2016 MCh$ MCh$ Subordinated bonds denominated in CLP 3 4 Subordinated bonds denominated in UF 773,189 759,661 Total subordinated bonds 773,192 759,665 i. Allocation of subordinated bonds During 2017 and 2016, the Bank has not placed any subordinated bonds. The maturities of subordinated bonds, are as follows: As of December 31, 2017 2016 MCh$ MCh$ Due within 1 year 3 4 Due after 1 year but within 2 years - - Due after 2 year but within 3 years - - Due after 3 year but within 4 years - - Due after 4 year but within 5 years - - Due after 5 years 773,189 759,661 Total subordinated bonds 773,192 759,665 e) Other financial liabilities The composition of other financial obligations, by maturity, is detailed below: As of December 31, 2017 2016 MCh$ MCh$ Non-current portion: Due after 1 year but within 2 years 23,401 33,777 Due after 2 year but within 3 years 4,181 24,863 Due after 3 year but within 4 years 194 5,794 Due after 4 year but within 5 years 210 1,973 Due after 5 years 1,219 15,121 Non-current portion subtotal 29,205 81,528 Current portion: Amounts due to credit card operators 173,271 151,620 Acceptance of letters of credit 2,780 2,069 Other long-term financial obligations, short-term portion 36,774 4,799 Current portion subtotal 212,825 158,488 Total other financial liabilities 242,030 240,016 |
MATURITY OF FINANCIAL ASSETS AN
MATURITY OF FINANCIAL ASSETS AND LIABILITIES | 12 Months Ended |
Dec. 31, 2017 | |
Maturity Of Financial Assets And Liabilities | |
MATURITY OF FINANCIAL ASSETS AND LIABILITIES | NOTE 19 MATURITY OF FINANCIAL ASSETS AND LIABILITIES As of December 31, 2017 and 2016, the detail of the maturities of assets and liabilities is as follows: As of December 31, 2017 Demand Up to 1 month Between 1 and 3 months Between 3 and 12 months Subtotal up to 1 year Between 1 and 3 years Between 3 and 5 years More than 5 years Subtotal More than 1 year Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Financial assets Cash and deposits in banks 1,452,922 - - - 1,452,922 - - - - 1,452,922 Cash items in process of collection 668,145 - - - 668,145 - - - - 668,145 Trading investments - 72,983 4,024 68,277 145,284 110,824 90,507 139,121 340,452 485,736 Investments under resale agreements - - - - - - - - - - Financial derivative contracts - 135,780 198,876 410,415 745,071 385,428 371,090 737,058 1,493,576 2,238,647 Interbank loans (*) - 6,064 152,911 3,710 162,685 - - - - 162,685 Loans and accounts receivables from customers (**) 769,823 2,206,734 2,288,372 4,348,975 9,613,904 5,187,501 2,938,326 9,823,498 17,949,325 27,563,229 Available for sale investments - 58,850 11,788 102,600 173,238 556,289 975,372 869,647 2,401,308 2,574,546 Guarantee deposits (margin accounts) 323,767 - - - 323,767 - - - - 323,767 Total financial assets 3,214,657 2,480,411 2,655,971 4,933,977 13,285,016 6,240,042 4,375,295 11,569,324 22,184,661 35,469,677 Financial liabilities Deposits and other demand liabilities 7,768,166 - - - 7,768,166 - - - - 7,768,166 Cash items in process of being cleared 486,726 - - - 486,726 - - - - 486,726 Obligations under repurchase agreements - 268,061 - - 268,061 - - - - 268,061 Time deposits and other time liabilities 121,479 5,120,171 4,201,271 2,299,018 11,741,939 106,833 2,811 62,362 172,006 11,913,945 Financial derivative contracts - 144,410 196,444 356,288 697,142 378,582 358,358 705,406 1,442,346 2,139,488 Interbank borrowings 4,130 46,013 397,419 1,030,241 1,477,803 220,554 - - 220,554 1,698,357 Issued debt instruments - 21,043 55,119 274,239 350,401 1,727,571 2,104,771 2,910,910 6,743,252 7,093,653 Other financial liabilities 177,663 701 2,583 31,879 212,826 27,581 404 1,219 29,204 242,030 Guarantees received (margin accounts) 408,313 - - - 408,313 - - - - 408,313 Total financial liabilities 8,966,477 5,600,399 4,852,836 3,991,665 23,411,377 2,461,121 2,466,344 3,679,897 8,607,362 32,018,739 (*) Interbank loans are presented on a gross basis. The amount of allowance is Ch$472 million. (**) Loans and accounts receivables from customers are presented on a gross basis. Provisions amounts according to type of loan are detailed as follows: Commercial loans Ch$ 437,863 million, Mortgage loans Ch$ 69,066 million, and Consumer loans Ch$ 283,756 million. As of December 31, 2016 Demand Up to 1 month Between 1 and 3 months Between 3 and 12 months Subtotal up to 1 year Between 1 and 3 years Between 3 and 5 years More than 5 years Subtotal More than 1 year Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Financial assets Cash and deposits in banks 2,279,389 - - - 2,279,389 - - - - 2,279,389 Cash items in process of collection 495,283 - - - 495,283 - - - - 495,283 Trading investments - 52,443 13,252 118,845 184,540 75,378 106,808 30,261 212,447 396,987 Investments under resale agreements - 6,736 - - 6,736 - - - - 6,736 Financial derivative contracts - 82,243 120,653 292,801 495,697 531,094 357,833 1,116,158 2,005,085 2,500,782 Interbank loans (*) - 12,859 135,756 124,143 272,758 44 - 5 49 272,807 Loans and accounts receivables from customers (**) 717,306 2,393,216 2,108,001 4,488,993 9,707,516 4,937,271 2,909,140 9,379,697 17,226,108 26,933,624 Available for sale investments - 1,581,682 250,222 314,842 2,146,746 37,974 379,976 824,210 1,242,160 3,388,906 Guarantee deposits (margin accounts) 396,289 - - - 396,289 - - - - 396,289 Total financial assets 3,888,267 4,129,179 2,627,884 5,339,624 15,984,954 5,581,761 3,753,757 11,350,331 20,685,849 36,670,803 Financial liabilities Deposits and other demand liabilities 7,539,315 - - - 7,539,315 - - - - 7,539,315 Cash items in process of being cleared 288,473 - - - 288,473 - - - - 288,473 Obligations under repurchase agreements - 212,437 - - 212,437 - - - - 212,437 Time deposits and other time liabilities 121,527 6,105,767 4,193,906 2,537,299 12,958,499 118,101 13,913 61,196 193,210 13,151,709 Financial derivative contracts - 92,335 122,565 263,893 478,793 494,539 346,948 971,881 1,813,368 2,292,161 Interbank borrowings 4,557 373,423 115,769 1,154,063 1,647,812 233,542 35,014 - 268,556 1,916,368 Issued debt instruments - 43,141 185,425 922,705 1,151,271 1,168,117 1,444,593 3,562,391 6,175,101 7,326,372 Other financial liabilities 153,049 1,461 1,161 2,817 158,488 58,641 7,766 15,121 81,528 240,016 Guarantees received (margin accounts) 480,926 - - - 480,926 - - - - 480,926 Total financial liabilities 8,587,847 6,828,564 4,618,826 4,880,777 24,916,014 2,072,940 1,848,234 4,610,589 8,531,763 33,447,777 (*) Interbank loans are presented on a gross basis. The amount of allowance is Ch$4,135 million. (**) Loans and accounts receivables from customers are presented on a gross basis. Provisions amounts according to type of loan are detailed as follows: Commercial loans Ch$ 429,442 million, Mortgage loans Ch$ 57,009 million, and Consumer loans Ch$ 300,019 million. |
PROVISIONS
PROVISIONS | 12 Months Ended |
Dec. 31, 2017 | |
Provisions [abstract] | |
PROVISIONS | NOTE 20 PROVISIONS a) As of December 31, 2017 and 2016, the composition is as follows: As of December 31, 2017 2016 MCh$ MCh$ Provisions for personnel salaries and expenses 97,576 72,592 Provisions for mandatory dividends 168,840 142,815 Provisions for contingent loan risk 10,079 11,399 Provisions for contingencies associated with administrative claims and leasing contracts 27,303 65,404 Total 303,798 292,210 b) Below is the activity regarding provisions during the years ended December 31, 2017 and 2016. Personnel salaries and expenses Mandatory Dividend Contingent loan Contingencies Total MCh$ MCh$ MCh$ MCh$ MM$ Balances as of January 1, 2017 72,592 142,815 11,399 65,404 292,210 Provisions established 106,687 168,840 7,341 8,645 291,513 Application of provisions (81,703) (142,815) - (389) (224,907) Provisions released - - (8,661) (46,357) (55,018) Reclassifications - - - - - Other - - - - - Balances as of December 31, 2017 97,576 168,840 10,079 27,303 303,798 Balances as of January 1, 2016 64,861 134,539 10,750 64,848 274,998 Provisions established 80,298 142,815 9,789 85,492 318,394 Application of provisions (72,567) (134,539) - (135) (207,241) Provisions released - - (9,140) (84,801) (93,941) Reclassifications - - - - - Other - - - - - Balances as of December 31, 2016 72,592 142,815 11,399 65,404 292,210 c) Provisions for personnel salaries and expenses: As of December 31, 2017 2016 MCh$ MCh$ Provision for seniority compensation 17,874 10,376 Provision for stock-based personnel benefits - - Provision for performance bonds 53,947 38,510 Provision for vacations 23,039 21,800 Provision for other personnel benefits 2,716 1,906 Total 97,576 72,592 |
OTHER LIABILITIES
OTHER LIABILITIES | 12 Months Ended |
Dec. 31, 2017 | |
Other Liabilities | |
OTHER LIABILITIES | NOTE 21 OTHER LIABILITIES The other liabilities line item is as follows: As of December 31, 2017 2016 MCh$ MCh$ Accounts and notes payable 196,965 154,159 Unearned income 601 509 Guarantees received (margin accounts) (1) 408,313 480,926 Notes payable through brokerage and simultaneous transactions 17,799 27,745 Other payable obligations (2) 58,921 80,100 Withheld VAT 1,887 1,964 Other liabilities (3) 60,877 50,382 Total 745,363 795,785 (1) Guarantee deposits (margin accounts) collaterals associated to derivative financial contracts to mitigate the counterparty credit risk and are mainly established in cash. These guarantees operate when mark to market of derivative financial instruments exceed the levels of threshold agreed in the contracts, which could result the the Bank deliver or receive collateral. (2) Other payable obligations mainly relates to settlement of derivatives and other financial transactions derived from the operation of the Bank. (3) Other liabilities: mainly include reimbursement of insurance commissions. |
CONTINGENCIES AND COMMITMENTS
CONTINGENCIES AND COMMITMENTS | 12 Months Ended |
Dec. 31, 2017 | |
Contingencies And Commitments | |
CONTINGENCIES AND COMMITMENTS | NOTE 22 CONTINGENCIES AND COMMITMENTS a) Lawsuits and legal procedures As of the issuance date of these financial statements, the Bank and its affiliates were subject to certain legal actions in the normal course of their business. As of December 31, 2017, the Banks and its subsidiaries have provisions for this item of Ch$1,214.2 million and Ch$0 million, respectively (Ch$1,194 million and Ch$48 million as of December 31, 2016) which is included in “Provisions” in the Consolidated Statement of Financial Position as provisions for contingencies. b) Contingent loans The following table shows the Bank’s contractual obligations to issue loans: As of December 31, 2017 2016 MCh$ MCh$ Letters of credit issued 201,699 158,800 Foreign letters of credit confirmed 75,499 57,686 Guarantees 1,823,793 1,752,610 Personal guarantees 81,577 125,050 Subtotal 2,182,568 2,094,146 Available on demand credit lines 8,135,489 7,548,820 Other irrevocable credit commitments 260,691 260,266 Total 10,578,748 9,903,232 c) Held The Bank holds securities in the normal course of its business as follows: As of December 31, 2017 2016 MCh$ MCh$ Third party operations Collections 175,200 163,303 Assets from third parties managed by the Bank and its affiliates 1,660,804 1,586,405 Subtotal 1,836,004 1,749,708 Custody of securities Securities held in custody 383,002 390,155 Securities held in custody deposited in other entity 760,083 687,610 Issued securities held in custody 22,046,701 18,768,572 Subtotal 23,189,786 19,846,337 Total 25,025,790 21,596,045 During 2017, the Bank classified the portfolios managed by private banking in “Assets from third parties managed by the Bank and its affiliates” (memo account). At the end of December 2017, the balance for this was Ch$ 1,660,768 million (Ch$ 1,586,370 million at December 31, 2016). d) Guarantees Banco Santander Chile has comprehensive officer fidelity insurance policy, No. 4505199, with the Chilena Consolidada de Seguros insurance company, for USD 50,000,000 which jointly covers both the Bank and its affiliates for the period from July 1, 2017 to June 30, 2018. e) Contingent loans and liabilities To satisfy its clients’ needs, the Bank took on several contingent loans and liabilities that are not be recognized in the Consolidated Financial Statement of Financial Position; these contain loan risks and they are, therefore, part of the Bank`s global risk. |
EQUITY
EQUITY | 12 Months Ended |
Dec. 31, 2017 | |
EQUITY | |
EQUITY | NOTE 23 EQUITY a) Capital As of December 31, 2017 and 2016 the Bank had 188,446,126,794 shares outstanding, all of which are subscribed for and paid in full, amounting to Ch$891,303 million. All shares have the same rights, and have no preferences or restrictions. The activity with respect to shares during 2017, 2016 and 2015 was as follows: SHARES As of December 31, 2017 2016 2015 Issued as of January 1 188,446,126,794 188,446,126,794 188,446,126,794 Issuance of paid shares - - - Issuance of outstanding shares - - - Stock options exercised - - - Issued as of December 31, 188,446,126,794 188,446,126,794 188,446,126,794 As of December 31, 2017, 2016 and 2015 the Bank does not have any of its own shares in treasury, nor do any of the consolidated companies. As of December 31, 2017 the shareholder composition was as follows: Corporate Name or Shareholder's Name Shares ADRs (*) Total % of equity holding Santander Chile Holding S.A. 66,822,519,695 - 66,822,519,695 35.46 Teatinos Siglo XXI Inversiones Limitada 59,770,481,573 - 59,770,481,573 31.72 The Bank New York Mellon - 31,238,866,071 31,238,866,071 16.58 Banks on behalf of third parties 13,892,691,988 - 13,892,691,988 7.37 Pension funds (AFP) on behalf of third parties 6,896,552,755 - 6,896,552,755 3.66 Stock brokers on behalf of third parties 3,762,310,365 - 3,762,310,365 2.00 Other minority holders 6,062,704,347 - 6,062,704,347 3.21 Total 157,207,260,723 31,238,866,071 188,446,126,794 100.00 (*) American Depository Receipts (ADR) are certificates issued by a U.S. commercial bank to be traded on the U.S. securities markets. As of December 31, 2016 the shareholder composition was as follows: Corporate Name or Shareholder's Name Shares ADRs (*) Total % of equity holding Santander Chile Holding S.A. 66,822,519,695 - 66,822,519,695 35.46 Teatinos Siglo XXI Inversiones Limitada 59,770,481,573 - 59,770,481,573 31.72 The Bank New York Mellon (1) - 34,800,933,671 34,800,933,671 18.47 Banks on behalf of third parties 12,257,100,312 - 12,257,100,312 6.50 Pension funds (AFP) on behalf of third parties 6,990,857,997 - 6,990,857,997 3.71 Stock brokers on behalf of third parties 3,071,882,351 - 3,071,882,351 1.63 Other minority holders 4,732,351,195 - 4,732,351,195 2.51 Total 153,645,193,123 34,800,933,671 188,446,126,794 100.00 (*) American Depository Receipts (ADR) are certificates issued by a U.S. commercial bank to be traded on the U.S. securities markets. As of December 31, 2015 the shareholder composition was as follows: Corporate Name or Shareholder's Name Shares ADRs (*) Total % of equity holding Santander Chile Holding S.A. 66,822,519,695 - 66,822,519,695 35.46 Teatinos Siglo XXI Inversiones Limitada 59,770,481,573 - 59,770,481,573 31.72 The Bank New York Mellon (1) - 32,516,063,671 32,516,063,671 17.25 Banks on behalf of third parties 11,878,070,560 - 11,878,070,560 6.30 Pension funds (AFP) on behalf of third parties 8,887,560,424 - 8,887,560,424 4.72 Stock brokers on behalf of third parties 3,460,285,074 - 3,460,285,074 1.84 Other minority holders 5,111,145,797 - 5,111,145,797 2.71 Total 155,930,063,123 32,516,063,671 188,446,126,794 100.00 (*) American Depository Receipts (ADR) are certificates issued by a U.S. commercial bank to be traded on the U.S. securities markets. (1) As of August 4, 2015, Banco Santander Chile signed a contract which appoints The Bank of New York Mellon as the commercial bank authorized to trade ADRs, replacing J.P.Morgan Chase Bank NA. b) Reserves In April 2017, due to the Shareholders’ Meeting, the Bank agreed to capitalized 30% of retained earnings from 2016 as reserves; which equals Ch$ 141,706 million (Ch$ 112,219 million in 2016). c) Dividends The distribution of dividends is detailed in the Consolidated Statement of Changes in Equity. d) As of December 31, 2017, 2016 and 2015 the basic and diluted earnings per share were as follows: As of December 31, 2017 2016 2015 MCh$ MCh$ MCh$ a) Basic earnings per share Total attributable to the equity holders of the Bank 562,801 476,067 448,466 Weighted average number of outstanding shares 188,446,126,794 188,446,126,794 188,446,126,794 Basic earnings per share (in Ch$) 2,987 2,526 2,380 b) Diluted earnings per share Total attributable to the equity holders of the Bank 562,801 476,067 448,466 Weighted average number of outstanding shares 188,446,126,794 188,446,126,794 188,446,126,794 Adjusted number of shares 188,446,126,794 188,446,126,794 188,446,126,794 Diluted earnings per share (in Ch$) 2,987 2,526 2,380 As of December 31, 2017, 2016 and 2015 the Bank does not own instruments with dilutive effects. e) Other comprehensive income from available for sale investments and cash flow hedges: For the years ended December 31, 2017 2016 2015 MCh$ MCh$ MCh$ Available for sale investments As of January 1, 7,375 (7,093) 21,684 Gain (losses) on the re-measurement of available for sale investments, before tax (10,384) 2,267 (51,178) Recycling from other comprehensive income to income for the year 4,864 12,201 22,401 Subtotals (5,520) 14,468 (28,777) Total 1,855 7,375 (7,093) Cash flow hedges As of January 1, 2,288 8,626 10,725 Gains (losses) on the re-measurement of cash flow hedges, before tax (5,850) (6,261) (2,105) Recycling adjustments on cash flow hedges, before tax - (77) 6 Amounts removed from equity and included in carrying amount of non-financial asset (liability) which acquisition or incurrence was hedged as a highly probable transaction - - - Subtotals (5,850) (6,338) (2,099) Total (3,562) 2,288 8,626 Other comprehensive income, before taxes (1,707) 9,663 1,533 Income tax related to other comprehensive income components Income tax relating to available for sale investments (473) (1,770) 1,596 Income tax relating to cash flow hedges 908 (549) (1,940) Total 435 (2,319) (344) Other comprehensive income, net of tax (1,272) 7,344 1,189 Attributable to: Equity holders of the Bank (2,312) 6,640 1,288 Non-controlling interest 1,040 704 (99) The Bank expects that the results included in "Other comprehensive income" will be reclassified to profit or loss when the specific conditions have been met. |
NON-CONTROLLING INTEREST
NON-CONTROLLING INTEREST | 12 Months Ended |
Dec. 31, 2017 | |
Non-controlling Interest | |
NON-CONTROLLING INTEREST | NOTE 24 NON-CONTROLLING INTEREST a) The non-controlling interest included in the equity and the income from the subsidiaries is summarized as follows: Other comprehensive income As of December 31, 2017 Non-controlling Equity Income Available for sale investments Deferred tax Total other comprehensive income Comprehensive income % MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Subsidiaries: Santander Agente de Valores Limitada 0.97 389 132 - - - 132 Santander S.A. Sociedad Securitizadora 0.36 1 - - - - - Santander Corredores de Bolsa Limitada 49.00 21,000 702 470 (134) 336 1,038 Santander Corredora de Seguros Limitada 0.25 167 4 - - - 4 Subtotal 21,557 838 470 (134) 336 1,174 Entities controlled through other considerations: Bansa Santander S.A. (1) 100.00 17,401 10,869 - - - 10,869 Santander Gestión de Recaudación y 100.00 2,925 741 - - - 741 Subtotal 20,326 11,610 - - - 11,610 Total 41,883 12,448 470 (134) 336 12,784 (1) In September 2017, Bansa Santander S.A. celebrated a legal cession of rights,which generated an income of Ch$20,663 million before tax (Ch$15,197 million net of taxes) Other comprehensive income As of December 31, 2016 Non-controlling Equity Income Available for sale investments Deferred tax Total other comprehensive income Comprehensive income % MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Subsidiaries: Santander Agente de Valores Limitada 0.97 492 116 - - - 116 Santander S.A. Sociedad Securitizadora 0.36 2 - - - - - Santander Corredores de Bolsa Limitada (1) 49.41 19,966 1,130 1,054 (251) 803 1,933 Santander Corredora de Seguros Limitada 0.25 164 7 - - - 7 Subtotal 20,624 1,253 1,054 (251) 803 2.056 Entities controlled through other considerations: Bansa Santander S.A. 100.00 6,533 529 - - - 529 Santander Gestión de Recaudación y Cobranzas Limitada 100.00 2,184 583 - - - 583 Subtotal 8,717 1,112 - - - 1,112 Total 29,341 2,365 1,054 (251) 803 3,168 (1) Ex Santander S.A. Corredores de Bolsa, See Note1. Other comprehensive income As of December 31, 2015 Non-controlling Equity Income Available for sale investments Deferred tax Total other comprehensive income Comprehensive income % MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Subsidiaries: Santander Agente de Valores Limitada 0.97 652 98 (4) 1 (3) 95 Santander S.A. Sociedad Securitizadora 0.36 2 - - - - - Santander S.A. Corredores de Bolsa Ltda 49.41 21,765 816 (128) 29 (99) 717 Santander Corredora de Seguros Limitada 0.25 156 (5) - - - (5) Subtotals 22,575 909 (132) 30 (102) 807 Entities controlled through other considerations: Bansa Santander S.A. 100.00 6,004 334 - - - 334 Santander Gestión de Recaudación y Cobranzas Limitada (1) 100.00 1,602 564 - - - 564 Multinegocios S.A. 100.00 - 310 - - - 310 Servicios Administrativos y Financieros Limitada 100.00 - 550 - - - 550 Multiservicios de Negocios Limitada 100.00 - 596 - - - 596 Subtotals 7,606 2.354 - - - 2,354 Total 30,181 3.263 (132) 30 (102) 3,161 (1) b) The overview of the financial information of the subsidiaries included in the consolidation of the Bank that possess non-controlling interests is as follows, which does not include consolidation or conforming accounting policy adjustments: As of December 31, 2017 2016 2015 Net income Net income Net Assets Liabilities Capital Assets Liabilities Capital Assets Liabilities Capital income MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Santander Corredora de Seguros Limitada 76,177 9,803 64,937 1,437 75,000 10,065 62,276 2,659 72,860 10,588 60,765 1,507 Santander Corredores de Bolsa Limitada 88,711 45,855 41,424 1,432 86,473 45,724 38,356 2,393 71,118 26,763 42,618 1,737 Santander Agente de Valores Limitada 44,910 4,732 26,569 13,609 54,486 3,666 38,851 11,969 131,305 64,049 57,554 9,702 Santander S.A. Sociedad Securitizadora 400 50 432 (82) 509 77 512 (80) 566 53 561 (48) Santander Gestión de Recaudación y Cobranzas Ltda. 10,826 7,901 2,184 741 8,547 6,363 1,602 582 6,194 4,592 1,038 564 Bansa Santander S.A. 25,535 8,134 6,533 10,868 31,301 24,768 6,004 529 31,631 25,627 5,670 334 Total 246,559 76,475 142,079 28,005 256,316 90,663 147,601 18,052 313,674 131,672 168,206 13,796 |
INTEREST INCOME
INTEREST INCOME | 12 Months Ended |
Dec. 31, 2017 | |
Interest Income | |
INTEREST INCOME | NOTE 25 INTEREST INCOME This item refers to interest earned in the period from the financial assets whose return, whether implicitly or explicitly, is determined by applying the effective interest rate method, regardless of the value at fair value, as well as the effect of hedge accounting (see c). a) For the years ended December 31, 2017, 2016 and 2015 the income from interest, was attributable to the following items: For the years ended December 31, 2017 2016 2015 Interest Inflation adjustments Prepaid fees Total Interest Inflation adjustments Prepaid fees Total Interest Inflation adjustments Prepaid fees Total Items MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Resale agreements 939 - - 939 1,488 - - 1,488 1,075 - - 1,075 Interbank loans 969 - - 969 295 - - 295 375 - - 375 Commercial loans 752,013 85,389 10,525 847,927 742,432 130,904 7,659 880,995 687,464 168,752 8,494 864,710 Mortgage loans 320,041 149,303 414 469,758 304,116 228,081 7,012 539,209 259,941 286,437 23,191 569,569 Consumer loans 612,932 363 4,738 618,033 604,152 660 4,318 609,130 586,385 3,418 3,706 593,509 Investment instruments 74,000 5,797 - 79,797 75,808 2,916 - 78,724 60,004 7,616 - 67,620 Other interest income 12,172 1,538 - 13,710 11,136 2,445 - 13,581 10,111 5,831 - 15,942 Interest income not including income from hedge accounting 1,773,066 242,390 15,677 2,031,133 1,739,427 365,006 18,989 2,123,422 1,605,355 472,054 35,391 2,112,800 b) For the years ended December 31, 2017, 2016 and 2015, the expense from interest expense, excluding expense from hedge accounting, is as follows: For the years ended December 31, 2017 2016 2015 Interest Inflation adjustments Total Interest Inflation adjustments Total Interest Inflation adjustments Total Items MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Demand deposits (13,851) (695) (14,546) (16,003) (1,043) (17,046) (13,875) (1,343) (15,218) Repurchase agreements (6,514) - (6,514) (2,822) - (2,822) (6,893) - (6,893) Time deposits and liabilities (341,821) (20,509) (362,330) (399,720) (38,946) (438,666) (346,174) (47,370) (393,544) Interbank loans (26,805) - (26,805) (19,803) - (19,803) (14,998) (2) (15,000) Issued debt instruments (220,027) (76,170) (296,197) (197,973) (105,452) (303,425) (183,561) (113,029) (296,590) Other financial liabilities (2,946) (303) (3,249) (3,008) (781) (3,789) (3,070) (1,180) (4,250) Other interest expense (5,236) (4,973) (10,209) (5,211) (8,874) (14,085) (3,456) (14,776) (18,232) Interest expense not including expenses from hedge accounting (617,200) (102,650) (719,850) (644,540) (155,096) (799,636) (572,027) (177,700) (749,727) c) For the years ended December 31, 2017 2016 2015 Items MCh$ MCh$ MCh$ Interest income not including income from hedge accounting 2,031,133 2,123,422 2,112,800 Interest expense not including expense from hedge accounting (719,850) (799,636) (749,727) Net Interest income (expense) from hedge accounting 1,311,283 1,323,786 1,363,073 Hedge accounting (net) 15,408 (42,420) (107,867) Total net interest income 1,326,691 1,281,366 1,255,206 |
FEES AND COMMISSIONS
FEES AND COMMISSIONS | 12 Months Ended |
Dec. 31, 2017 | |
Fees And Commissions | |
FEES AND COMMISSIONS | NOTE 26 FEES AND COMMISSIONS This item includes the amount of fees earned and paid during the year, except for those which are an integral part of the financial instrument’s effective interest rate: For the years ended December 31, 2017 2016 2015 MCh$ MCh$ MCh$ Fee and commission income Fees and commissions for lines of credits and overdrafts 7,413 5,754 6,597 Fees and commissions for guarantees and letters of credit 33,882 35,911 35,276 Fees and commissions for card services 201,791 195,566 175,262 Fees and commissions for management of accounts 31,901 31,540 30,291 Fees and commissions for collections and payments 44,312 31,376 30,399 Fees and commissions for intermediation and management of securities 10,090 9,304 10,000 Insurance brokerage fees 36,430 40,882 39,252 Office banking 15,669 14,145 15,224 Fees for other services rendered 43,123 38,038 35,978 Other fees earned 30,947 28,668 24,621 Total 455,558 431,184 402,900 For the years ended December 31, 2017 2016 2015 MCh$ MCh$ MCh$ Fee and commission expense Compensation for card operation (149,809) (143,509) (129,196) Fees and commissions for securities transactions (858) (946) (1,315) Office banking (15,283) (14,671) (15,320) Other fees (10,545) (17,634) (19,442) Total (176,495) (176,760) (165,273) Net fees and commissions income 279,063 254,424 237,627 The fees earned in transactions with letters of credit are presented in the Consolidated Statement of Income in the line item “Interest income”. |
NET INCOME (EXPENSE) FROM FINAN
NET INCOME (EXPENSE) FROM FINANCIAL OPERATIONS | 12 Months Ended |
Dec. 31, 2017 | |
Net Income Expense From Financial Operations | |
NET INCOME (EXPENSE) FROM FINANCIAL OPERATIONS | NOTE 27 NET INCOME (EXPENSE) FROM FINANCIAL OPERATIONS For the years ended December 31, 2017, 2016 and 2015, the detail of income (expense) from financial operations is as follows: For the years ended December 31, 2017 2016 2015 MCh$ MCh$ MCh$ Income (expense) from financial operations Trading derivatives (18,974) (395,209) (503,981) Trading investments 10,008 18,229 21,505 Sale of loans and accounts receivables from customers Current portfolio 3,020 1,469 921 Charged-off portfolio 3,020 2,720 (58) Available for sale investments 8,956 14,598 23,655 Repurchase of issued bonds (742) (8,630) (14) Other income (expense) from financial operations (2,492) (211) 75 Total income (expense) 2,796 (367,034) (457,897) |
NET FOREIGN EXCHANGE GAIN (LOSS
NET FOREIGN EXCHANGE GAIN (LOSS) | 12 Months Ended |
Dec. 31, 2017 | |
Net Foreign Exchange Gain Loss | |
NET FOREIGN EXCHANGE GAIN (LOSS) | NOTE 28 NET FOREIGN EXCHANGE GAIN (LOSS) Net foreign exchange income includes the income earned from foreign currency trading, differences arising from converting monetary items in a foreign currency to the functional currency, and those generated by non-monetary assets in a foreign currency at the time of their sale. For the years ended December 31, 2017, 2016 and 2015 net foreign exchange income is as follows: For the years ended December 31, 2017 2016 2015 MCh$ MCh$ MCh$ Net foreign exchange gain (loss) Net profit (loss) from currency exchange differences 113,115 116,117 (197,875) Hedging derivatives 22,933 399,875 777,254 Income from assets indexed to foreign currency (9,190) (8,745) 25,421 Income from liabilities indexed to foreign currency 98 145 (1,404) Total 126,956 507,392 603,396 |
PROVISIONS FOR LOAN LOSSES
PROVISIONS FOR LOAN LOSSES | 12 Months Ended |
Dec. 31, 2017 | |
Provisions For Loan Losses | |
PROVISIONS FOR LOAN LOSSES | NOTE 29 PROVISIONS FOR LOAN LOSSES a) For the years ended December 31, 2017, 2016 and 2015 activity for provisions for loan losses is as follows: Loans and accounts receivable from customers Total For the year ended December 31, 2017 Interbank loans Individual Commercial loans Mortgage loans Consumer loans Contingent loans Individual Group Group Group Individual Group MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Charged-off individually significant loans - (15,699) - - - - - (15,699) Provisions established (307) (64,658) (148,681) (43,621) (252,038) (3,117) (4,224) (516,646) Total provisions and charge-offs (307) (80,357) (148,681) (43,621) (252,038) (3,117) (4,224) (532,345) Provisions released 3,970 55,925 20,491 11,427 46,089 7,001 1,660 146,563 Recovery of loans previously charged off - 11,114 21,499 10,942 39,972 - - 83,527 Net charge to income 3,663 (13,318) (106,691) (21,252) (165,977) 3,884 (2,564) (302,255) Loans and accounts receivable from customers Total For the year ended December 31, 2016 Interbank loans Individual Commercial loans Mortgage loans Consumer loans Contingent loans Individual Group Group Group Individual Group MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Charged-off individually significant loans - (11,222) - - - - - (11,222) Provisions established (3,052) (61,002) (133,855) (50,892) (280,544) (11,986) (2,909) (544,240) Total provisions and charge-offs (3,052) (72,224) (133,855) (50,892) (280,544) (11,986) (2,909) (555,462) Provisions released 83 43,183 14,432 34,246 30,790 6,963 5,384 135,081 Recovery of loans previously charged off - 11,142 16,043 10,041 41,072 - - 78,298 Net charge to income (2,969) (17,899) (103,380) (6,605) (208,682) (5,023) 2,475 (342,083) Loans and accounts receivable from customers Total For the year ended December 31, 2015 Interbank loans Individual Commercial loans Mortgage loans Consumer loans Contingent loans Individual Group Group Group Individual Group MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Charged-off individually significant loans - (12,955) - - - - - (12,955) Provisions established (1,357) (124,968) (136,778) (34,373) (248,937) (2,808) (2,601) (551,822) Total provisions and charge-offs (1,357) (137,923) (136,778) (34,373) (248,937) (2,808) (2,601) (564.777) Provisions released 192 46,614 17,885 7,205 18,126 5,042 2,296 97,360 Recovery of loans previously charged off - 8.978 17,054 6,543 35,565 - - 68,140 Net charge to income (1,165) (82,331) (101,839) (20,625) (195,246) 2,234 (305) (399.277) b) For the years ended December 31, 2017 2016 2015 MCh$ MCh$ MCh$ Charge-off of loans 51,978 47,605 50,656 Provision applied (36,279) (36,383) (37,701) Net charge offs of individually significant loans 15,699 11,222 12,955 |
PERSONNEL SALARIES AND EXPENSES
PERSONNEL SALARIES AND EXPENSES | 12 Months Ended |
Dec. 31, 2017 | |
Personnel Salaries And Expenses | |
PERSONNEL SALARIES AND EXPENSES | NOTE 30 PERSONNEL SALARIES AND EXPENSES For the years ended December 31, 2017, 2016 and 2015, the composition of personnel salaries and expenses is as follows: For the years ended December 31, 2017 2016 2015 MCh$ MCh$ MCh$ Personnel compensation 250,962 249,703 233,707 Bonuses or gratifications 75,181 77,649 78,260 Stock-based benefits 2,752 331 66 Seniority compensation 26,120 26,263 34,012 Pension plans 2,039 (150) 431 Training expenses 2,867 2,835 3,186 Day care and kindergarten 2,505 3,072 2,992 Health funds 4,748 4,777 4,474 Welfare funds 896 806 754 Other personnel expenses 28,897 29,847 29,181 Total 396,967 395,133 387,063 |
ADMINISTRATIVE EXPENSES
ADMINISTRATIVE EXPENSES | 12 Months Ended |
Dec. 31, 2017 | |
Administrative Expenses | |
ADMINISTRATIVE EXPENSES | NOTE 31 ADMINISTRATIVE EXPENSES For the years ended December 31, 2017, 2016 and 2015, the composition of the item is as follows: For the years ended December 31, 2017 2016 2015 MCh$ MCh$ MCh$ General administrative expenses 139,418 138,974 127,826 Maintenance and repair of property, plant and equipment 21,359 19,901 20,002 Office lease 26,136 28,098 27,472 Equipment lease 96 280 134 Insurance payments 3,354 3,842 3,656 Office supplies 6,862 5,747 6,232 IT and communication expenses 39,103 37,351 28,420 Heating, and other utilities 5,468 4,863 4,764 Security and valuables transport services 12,181 14,793 15,393 Representation and personnel travel expenses 4,262 5,440 4,590 Judicial and notarial expenses 974 952 2,103 Fees for technical reports and auditing 9,379 7,631 7,301 Other general administrative expenses 10,244 10,076 7,759 Outsourced services 57,400 55,757 60,913 Data processing 34,880 36,068 39,286 Products sale - - 226 Archive services 3,324 4,427 1,047 Valuation services 2,419 3,489 2,969 Outsourcing 6,878 5,404 7,275 Other 9,899 6,369 10,110 Board expenses 1,290 1,371 1,465 Marketing expenses 18,877 17,844 18,483 Taxes, payroll taxes, and contributions 13,118 12,467 11,844 Real estate taxes 1,443 1,435 1,813 Patents 1,646 1,618 1,589 Other taxes 24 93 3 Contributions to SBIF 10,005 9,321 8,439 Total 230,103 226,413 220,531 |
DEPRECIATION, AMORTIZATION, AND
DEPRECIATION, AMORTIZATION, AND IMPAIRMENT | 12 Months Ended |
Dec. 31, 2017 | |
Depreciation Amortization And Impairment | |
DEPRECIATION, AMORTIZATION, AND IMPAIRMENT | NOTE 32 DEPRECIATION, AMORTIZATION, AND IMPAIRMENT Depreciation, amortization and impairment charges for the years ended December 31, 2017, 2016 and 2015, are detailed below: For the years ended December 31, 2017 2016 2015 MCh$ MCh$ MCh$ Depreciation and amortization Depreciation of property, plant, and equipment (55,623) (45,025) (36,195) Amortization of Intangible assets (22,200) (20,334) (17,419) Total depreciation and amortization (77,823) (65,359) (53,614) Impairment of property, plant, and equipment (354) (234) (21) Impairment of intangibles (5,290) - - Total (83,467) (65,593) (53,635) As of December 31, 2017, the equipment impairment totaled Ch$354 million(Ch$234 million as of December 31, 2016 and Ch$21 million as of December 31, 2015), mainly due to damages to ATMs. The intangible impairment totaled Ch$5,290 due to obsolescence of computer projects. |
OTHER OPERATING INCOME AND EXPE
OTHER OPERATING INCOME AND EXPENSES | 12 Months Ended |
Dec. 31, 2017 | |
Other Operating Income And Expenses | |
OTHER OPERATING INCOME AND EXPENSES | NOTE 33 OTHER OPERATING INCOME AND EXPENSES a) Other operating income is comprised of the following components: For the years ended December 31, 2017 2016 2015 MCh$ MCh$ MCh$ Income from assets received in lieu of payment 3,330 1,663 2,455 Income from sale of investments in other companies - - 617 Release of contingencies provisions (1) 29,903 - - Other income Leases 264 519 708 Income from sale of property, plant and equipment (2) 23,229 2,017 381 Recovery of provisions for contingencies - - - Compensation from insurance companies due to damages 1,237 1,530 435 Other 4,053 698 1,843 Subtotal 28,783 4,764 3,367 Total 62,016 6,427 6,439 (1) (2) b) For the years ended December 31, 2017 2016 2015 MCh$ MCh$ MCh$ Allowances and expenses for assets received in lieu of payment Provision on assets received in lieu of payment 3,912 9,246 7,803 Expenses for maintenance of assets received in lieu of payment 1,679 2,170 2,397 Subtotal 5,591 11,416 10,200 Credit card expenses 3,070 3,636 4,624 Customer services 2,563 3,734 3,919 Other expenses Operating charge-offs 1,607 6,146 5,359 Life insurance and general product insurance policies 23,475 18,393 11,225 Additional tax on expenses paid overseas - 142 2,651 Provisions for contingencies - 4,238 15,230 Retail association payment 912 - - Other 31,195 21,197 5,521 Subtotal 57,189 50,116 39,986 Total 68,413 68,902 58,729 |
TRANSACTIONS WITH RELATED PARTI
TRANSACTIONS WITH RELATED PARTIES | 12 Months Ended |
Dec. 31, 2017 | |
Transactions With Related Parties | |
TRANSACTIONS WITH RELATED PARTIES | NOTE 34 TRANSACTIONS WITH RELATED PARTIES In addition to affiliates and associated entities, the Bank’s “related parties” include its “key personnel” from the executive staff (members of the Bank’s Board of Directors and Managers of Banco Santander Chile and its affiliates, together with their close relatives), as well as the entities over which the key personnel could exercise significant influence or control. The Bank also considers the companies that are part of the Santander Group worldwide as related parties, given that all of them have a common parent, i.e., Banco Santander S.A. (located in Spain). Transactions between the Bank and its related parties are specified below. To facilitate comprehension, we have divided the information into four categories: Santander Group Companies This category includes all the companies that are controlled by the Santander Group around the world, and hence, it also includes the companies over which the Bank exercises any degree of control (affiliates and special-purpose entities). Associated companies This category includes the entities over which the Bank, in accordance with section b) of Note 1 to these Financial Statements, exercises a significant degree of influence and which generally belong to the group of entities known as “business support companies.” Key personnel This category includes members of the Bank’s Board of Directors and managers of Banco Santander Chile and its affiliates, together with their close relatives. Other This category encompasses the related parties that are not included in the groups identified above and which are, in general, entities over which the key personnel could exercise significant influence or control. The terms for transactions with related parties are equivalent to those which prevail in transactions made under market conditions or to which the corresponding considerations in kind have been attributed. a) Loans to related parties: Below are loans and accounts receivable as well as contingent loans that correspond to related entities: As of December 31, 2017 2016 2015 Companies of the Group Associated companies Key personnel Other Companies of the Group Associated companies Key personnel Other Companies of the Group Associated companies Key personnel Other MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Loans and accounts receivable: Commercial loans 80,076 771 3,947 7,793 81,687 533 4,595 7,100 77,388 565 5,841 1,963 Mortgage loans - - 18,796 - - - 18,046 - - - 20,559 - Consumer loans - - 4,310 - - - 3,783 - - - 2,274 - Loans and accounts receivable: 80,076 771 27,053 7,793 81,687 533 26,424 7,100 77,388 565 28,674 1,963 Allowance for loan losses (209) (9) (177) (18) (209) (35) (87) (34) (213) (190) (62) (20) Net loans 79,867 762 26,876 7,775 81,478 498 26,337 7,066 77,175 375 28,612 1,943 Guarantees 361,452 - 23,868 7,164 434,141 - 23,636 5,486 499,803 - 25,493 1,632 Contingent loans: Personal guarantees - - - - - - - - - - - - Letters of credit 19,251 - - 33 27,268 - - - 29,275 - - - Guarantees 377,578 - - - 437,101 - - - 510,309 - - 2 Contingent loans: 396,829 - - 33 464,369 - - - 539,584 - - 2 Allowance for contingent loans (4) - - 1 (5) - - - (11) - - - Net contingent loans 396,825 - - 34 464,364 - - - 539,573 - - 2 Loan activity to related parties during 2017, 2016 and 2015 is shown below: As of December 31, 2017 2016 2015 Companies of the Group Associated companies Key Personnel Other Companies of the Group Associated companies Key Personnel Other Companies of the Group Associated companies Key Personnel Other MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Opening balances as of January 1, 546,058 532 26,423 7,100 616,968 565 28,675 1,966 500,449 9,614 27,087 9,516 Loans granted 78,214 318 7,777 1,050 122,729 203 8,580 6,808 276,383 7 8,991 4,113 Loans payments (147,366) (79) (7,149) (324) (193,189) (236) (10,832) (1,674) (159,864) (9,056) (7,403) (11,663) Total 476,906 771 27,051 7,826 546,508 532 26,423 7,100 616,968 565 28,675 1,966 b) Assets and liabilities with related parties As of December 31, 2017 2016 2015 Companies of the Group Associated companies Key personnel Other Companies of the Group Associated companies Key personnel Other Companies of the Group Associated companies Key personnel Other MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Assets Cash and deposits in banks 74,949 - - - 187,701 - - - 23,578 - - - Trading investments - - - - - - - - - - - - Obligations under repurchase agreements Loans - - - - - - - - - - - - Financial derivative contracts 545,028 86,011 - - 742,851 33,433 - - 771,774 24,773 - - Available for sale investments - - - - - - - - - - - - Other assets 8,480 118,136 - - 4,711 67,454 - - 3,218 19,101 - - Liabilities Deposits and other demand liabilities 24,776 25,805 2,470 221 6,988 7,141 2,883 630 9,987 8,535 2,454 1,373 Obligations under repurchase agreements Loans 50,945 - - - 56,167 - - - 12,006 - - - Time deposits and other time liabilities 785,988 27,968 3,703 3,504 1,545,835 6,219 2,525 2,205 1,360,572 234 2,728 898 Financial derivative contracts 418,647 142,750 - 7,190 954,575 54,691 - - 1,323,996 23,326 - - Interbank borrowing - - - - 6,165 - - - - - - - Issued debt instruments 482,626 - - - 484,548 - - - 398,565 - - - Other financial liabilities 4,919 - - - 8,970 - - - 2,409 - - - Other liabilities 164,303 58,168 - - 446 44,329 - - 376 19,541 - - c) Income (expense) recorded due to transactions with related parties For the years ended December 31, 2017 2016 2015 Companies of the Group Associated Companies Key personnel Other Companies of the Group Associated companies Key personnel Other Companies of the Group Associated Companies Key personnel Other MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Income (expense) recorded Interest income and inflation-indexation adjustments (43,892) - 1,051 - (39,279) 40 1,164 115 (10,986) - 1,664 116 Fee and commission income and expenses 72,273 15,404 224 1 56,952 22,322 204 20 35,955 77 208 39 Net income (expense) from financial operations and net foreign exchange gain (loss) (*) 363,108 (48,453) (3) 19 (343,963) (48,373) (88) 2 (321,985) (16,845) 15 6 Other operating income and expenses 21,670 (1,454) - - 931 (2,239) - - 955 (1,027) - - Key personnel compensation and expenses - - (43,037) - - - (37,328) - - - (39,323) - Administrative and other expenses (48,246) (47,220) - - (35,554) (43,115) - - (30,591) (41,691) - - Total 364,913 (81,723) (41,765) 20 (360,913) (71,365) (36,048) 137 (326,652) (59,486) (37,436) 161 (*) Primarily relates to derivative contracts used to financially cover exchange risk of assets and liabilities that cover positions of the Bank and its subsidiaries. d) Payments to Board members and key management personnel The compensation received by key management personnel, including Board members and all the executives holding manager positions shown in the “Personnel salaries and expenses” and/or “Administrative expenses” items of the Consolidated Statement of Income, corresponds to the following categories: For the years ended December 31, 2017 2016 2015 MCh$ MCh$ MCh$ Personnel compensation 16,863 17,493 18,605 Board members’ salaries and expenses 1,199 1,269 1,374 Bonuses or gratifications 16,057 14,404 12,861 Compensation in stock 1,923 331 66 Training expenses 68 161 122 Seniority compensation 3,842 2,619 4,154 Health funds 273 285 314 Other personnel expenses 773 916 1,396 Pension plans (*) 2,039 (150) 431 Total 43,037 37,328 39,323 (*)Some of the executives that qualified for this benefit left the Group for different reasons, without complying with the requirements to receive the benefit, therefore the obligation amount decreased, which generated the reversal of provisions. e) Composition of key personnel As of December 31, 2017, 2016 and 2015, the composition of the Bank’s key personnel is as follows: Position No. of executives As of December 31, 2017 2016 2015 Director 11 13 12 Division manager 13 17 16 Department manager 63 76 79 Manager 46 61 53 Total key personnel 133 167 160 |
PENSION PLANS
PENSION PLANS | 12 Months Ended |
Dec. 31, 2017 | |
Pension Plans | |
PENSION PLANS | NOTE 35 PENSION PLANS The Bank has an additional benefit available to its principal executives, consisting of a pension plan. The purpose of the pension plan is to endow the executives with funds for a better supplementary pension upon their retirement. For this purpose, the Bank will match the voluntary contributions made by the beneficiaries for their future pensions with an equivalent contribution. The executives will be entitled to receive this benefit only when they fulfill the following conditions: a. Aimed at the Bank’s management. b. The general requisite to apply for this benefit is that the employee must be carrying out his/her duties when turning 60 years old. c. The Bank will create a pension fund, with life insurance, for each beneficiary in the plan. Periodic contributions into this fund are made by the manager and matched by the Bank. d. The Bank will be responsible for granting the benefits directly. If the working relationship between the manager and the respective company ends, before s/he fulfills the abovementioned requirements, s/he will have no rights under this benefit plan. In the event of the executive’s death or total or partial disability, s/he will be entitled to receive this benefit. The Bank will make contributions to this benefit plan on the basis of mixed collective insurance policies whose beneficiary is the Bank. The life insurance company with whom such policies are executed is not an entity linked or related to the Bank or any other Santander Group company. Plan Assets owned by the Bank at the end of 2017 totaled Ch$7,919 million (Ch$6,612 million in 2016). The amount of the defined benefit plans has been quantified by the Bank, based on the following criteria: Calculation method: Use of the projected unit credit method which considers each working year as generating an additional amount of rights over benefits and values each unit separately. It is calculated based primarily on fund contributions, as well as other factors such as the legal annual pension limit, seniority, age and yearly income for each unit valued individually. Assets related to the pension fund contributed by the Bank into the Seguros Euroamérica insurance company with respect to defined benefit plans are presented as net of associated commitments. Actuarial hypothesis assumptions: Actuarial assumptions with respect to demographic and financial variables are non-biased and mutually compatible with each other. The most significant actuarial hypotheses considered in the calculations were: Plans post - employment Plans post- employment 2017 2016 Mortality chart RV-2014 RV-2014/CB-2014 Termination of contract rates 5.0% 5.0% Impairment chart PDT 1985 PDT 1985 Activity for post-employment benefits is as follows: As of December 31, 2017 2016 MCh$ MCh$ Plan assets 7,919 6,612 Commitments for defined-benefit plans For active personnel (6,998) (4,975) Incurred by inactive personnel - - Minus: Unrealized actuarial (gain) losses - - Balances at year end 921 1,637 Year’s cash flow for post-employment benefits is as follows: For the years ended December 31, 2017 2016 2015 MCh$ MCh$ MCh$ a) Fair value of plan assets Opening balance 6,612 6,945 6,495 Expected yield of insurance contracts 307 335 432 Employer contributions 1,931 886 18 Actuarial (gain) losses - - - Premiums paid - - - Benefits paid (931) (1,554) - Fair value of plan assets at year end 7,919 6,612 6,945 b) Present value of obligations Present value of obligations opening balance (4,975) (5,070) (4,639) Net incorporation of Group companies - - - Service cost (2,039) 150 (431) Interest cost - - - Curtailment/settlement effect - - - Benefits paid - - - Past service cost - - - Actuarial (gain) losses - - - Other 16 (55) - Present value of obligations at year end (6,998) (4,975) (5,070) Net balance at year end 921 1,637 1,875 Plan expected profit: As of December 31, 2017 2016 2015 Type of expected yield from the plan’s assets UF + 2.50% annual UF + 2.50% annual UF + 2.50% annual Type of yield expected from the reimbursement rights UF + 2.50% annual UF + 2.50% annual UF + 2.50% annual Plan associated expenses: For the years ended December 31, 2017 2016 2015 MCh$ MCh$ MCh$ Current period service expenses 2,039 (150) 431 Interest cost - - - Expected yield from plan’s assets (307) (335) (432) Expected yield of insurance contracts linked to the Plan: Extraordinary allocations - - - Actuarial (gain)/ losses recorded in the period - - - Past service cost - - - Other - - - Total 1,732 (485) (1) |
FAIR VALUE OF FINANCIAL ASSETS
FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES | 12 Months Ended |
Dec. 31, 2017 | |
Fair Value Of Financial Assets And Liabilities | |
FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES | NOTE 36 FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The measurement of fair value assumes the sale transaction of an asset or the transference of the liability happens within the main asset or liability market, or the most advantageous market for the asset or liability. For financial instruments with no available market prices, fair values have been estimated by using recent transactions in analogous instruments, and in the absence thereof, the present values or other valuation techniques based on mathematical valuation models sufficiently accepted by the international financial community. In the use of these models, consideration is given to the specific particularities of the asset or liability to be valued, and especially to the different kinds of risks associated with the asset or liability. These techniques are significantly influenced by the assumptions used, including the discount rate, the estimates of future cash flows and prepayment expectations. Hence, the fair value estimated for an asset or liability may not coincide exactly with the price at which that asset or liability could be delivered or settled on the date of its valuation, and may not be justified in comparison with independent markets. Except as detailed in the following table, management considers that the carrying amounts of financial assets and financial liabilities recognised in the consolidated financial statements approximate their fair values. Determination of fair value of financial instruments Below is a comparison between the value at which the Bank’s financial assets and liabilities are recorded and their fair value as of December 31, 2017 and 2016: As of December 31, 2017 2016 Book value Fair value Book value Fair value MCh$ MCh$ MCh$ MCh$ Assets Trading investments 485,736 485,736 396,987 396,987 Financial derivative contracts 2,238,647 2,238,647 2,500,782 2,500,782 Loans and accounts receivable from customers and interbank loans, net 26,934,757 28,518,929 26,415,826 29,976,931 Available for sale investments 2,574,546 2,574,546 3,388,906 3,388,906 Guarantee deposits (margin accounts) 323,767 323,767 396,289 396,289 Liabilities Deposits and interbank borrowings 21,380,468 20,887,959 22,607,392 22,833,009 Financial derivative contracts 2,139,488 2,139,488 2,292,161 2,292,161 Issued debt instruments and other financial liabilities 7,335,683 7,487,591 7,566,388 8,180,322 Guarantees received (margin accounts) 408,313 408,313 480,926 480,926 The fair value approximates the carrying amount of the following line items due to their short-term nature: cash and deposits-banks, cash items in process of collection and investments under resale or repurchase agreements. In addition, the fair value estimates presented above do not attempt to estimate the value of the Bank’s profits generated by its business activity, nor its future activities, and accordingly, they do not represent the Bank’s value as a going concern. Below is a detail of the methods used to estimate the financial instruments’ fair value. a) Trading investments and available for sale investment instruments The estimated fair value of these financial instruments was established using market values or estimates from an available dealer, or quoted market prices of similar financial instruments. Investments are evaluated at recorded value since they are considered as having a fair value not significantly different from their recorded value. To estimate the fair value of debt investments or representative values in these lines of businesses, we take into consideration additional variables and elements, as long as they apply, including the estimate of prepayment rates and credit risk of issuers. b) Loans and accounts receivable from customers and interbank loans Fair value of commercial, mortgage and consumer loans and credit cards is measured through a discounted cash flow (DCF) analysis. To do so, we use current market interest rates considering product, term, amount and similar loan quality. Fair value of loans with 90 days or more of delinquency are measured by means of the market value of the associated guarantee, minus the rate and term of expected payment. For variable rate loans whose interest rates change frequently (monthly or quarterly) and that are not subjected to any significant credit risk change, the estimated fair value is based on their book value. c) Deposits Disclosed fair value of deposits that do not bear interest and saving accounts is the amount payable at the reporting date and, therefore, equals the recorded amount. Fair value of time deposits is calculated through a discounted cash flow calculation that applies current interest rates from a monthly calendar of scheduled maturities in the market. d) Short and long term issued debt instruments The fair value of these financial instruments is calculated by using a discounted cash flow analysis based on the current incremental lending rates for similar types of loans having similar maturities. e) Financial derivative contracts The estimated fair value of financial derivative contracts is calculated using the prices quoted on the market for financial instruments having similar characteristics. The fair value of interest rate swaps represents the estimated amount that the Bank determines as exit price in accordance with IFRS 13. If there are no quoted prices from the market (either direct or indirect) for any derivative instrument, the respective fair value estimates have been calculated by using models and valuation techniques such as Black-Scholes, Hull, and Monte Carlo simulations, taking into consideration the relevant inputs/outputs such as volatility of options, observable correlations between underlying assets, counterparty credit risk, implicit price volatility, the velocity with which the volatility reverts to its average value, and the straight-line relationship (correlation) between the value of a market variable and its volatility, among others. Measurement of fair value and hierarchy IFRS 13 - Fair Value Measurement, provides a hierarchy of reasonable values which separates the inputs and/or valuation technique assumptions used to measure the fair value of financial instruments. The hierarchy reflects the significance of the inputs used in making the measurement. The three levels of the hierarchy of fair values are the following: • Level 1: the inputs are quoted prices (unadjusted) on active markets for identical assets and liabilities that the Bank can access on the measurement date. • Level 2: inputs other than the quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. • Level 3: inputs are unobservable inputs for the asset or liability i.e. they are not based on observable market data. The hierarchy level within which the fair value measurement is categorized in its entirety is determined based on the lowest level of input that is significant to the fair value measurement in its entirety. The best evidence of a financial instrument’s fair value at the initial time is the transaction price. In cases where quoted market prices cannot be observed, Management makes its best estimate of the price that the market would set using its own internal models which in most cases use data based on observable market parameters as a significant input (Level 2) and, in very specific cases, significant inputs not observable in market data (Level 3). Various techniques are employed to make these estimates, including the extrapolation of observable market data. Financial instruments at fair value and determined by quotations published in active markets (Level 1) include: - Chilean Government and Department of Treasury bonds - U.S. Treasury Bonds Instruments which cannot be 100% observable in the market are valued according to other inputs observable in the market (Level 2). The following financial instruments are classified under Level 2: Type of financial instrument Model used in valuation Description of unobservable inputs Mortgage and private bonds Present Value of Cash Flows Model Internal Rates of Return (“IRRs”) are provided by RiskAmerica, according to the following criterion: If, at the valuation day, there are one or more valid transactions at the Santiago Stock Exchange for a given nemotechnic, the reported rate is the weighted average amount of the observed rates. In the case there are no valid transactions for a given mnemonic on the valuation day, the reported rate is the IRR base from a reference structure, plus a spread model based on historical spread for the same item or similar ones. Time deposits Present Value of Cash Flows Model IRRs are provided by RiskAmerica, according to the following criterion: If, at the valuation day, there are one or more valid transactions at the Santiago Stock Exchange for a given mnemonic, the reported rate is the weighted average amount of the observed rates. In the case there are no valid transactions for a given mnemonic on the valuation day, the reported rate is the IRR base from a reference structure, plus a spread model based on issuer curves. Constant Maturity Swaps (CMS), FX and Inflation Forward (Fwd) , Cross Currency Swaps (CCS), Interest Rate Swap (IRS) Present Value of Cash Flows Model IRRs are provided by ICAP, GFI, Tradition, and Bloomberg according to this criterion: With published market prices, a valuation curve is created by the bootstrapping method and is then used to value different derivative instruments. FX Options Black-Scholes Formula adjusted by the volatility simile (implicit volatility). Prices (volatility) are provided by BGC Partners, according to this criterion: With published market prices, a volatility parameter is created by interpolation and then these volatilities are used to value options. In limited occasions significant inputs not observable in market data are used (Level 3). To carry out this estimate, several techniques are used, including extrapolation of observable market data or a mix of observable data. The following financial instruments are classified under Level 3: Type of financial instrument Model used in valuation Description of no observable inputs Caps/ Floors/ Swaptions Black Normal Model for Cap/Floors and Swaptions There is no observable input of implicit volatility. UF options Black – Scholes There is no observable input of implicit volatility. Cross currency swap with window Hull-White Hybrid HW model for rates and Brownian motion for FX There is no observable input of implicit volatility. CCS (special contracts) Implicit Forward Rate Agreement (FRA) Start Fwd unsupported by MUREX (platform) due to the UF forward estimate. Cross currency swap, Interest rate swap, Call money swap in Tasa Activa Bancaria (Active Bank Rate) TAB, Present Value of Cash Flows Model Validation obtained by using the interest curve and interpolating flow maturities, but TAB is not a directly observable variable and is not correlated to any market input. Bonds (in our case, low liquidity bonds) Present Value of Cash Flows Model Valued by using similar instrument prices plus a charge-off rate by liquidity. The Bank does not believe that any change in unobservable inputs with respect to level 3 instruments would result in a significantly different fair value measurement. The following table presents the assets and liabilities that are measured at fair value on a recurrent basis, as of December 31, 2017 and 2016: Fair value measurement As of December 31, 2017 Level 1 Level 2 Level 3 MCh$ MCh$ MCh$ MCh$ Assets Trading investments 485,736 481,642 4,094 - Available for sale investments 2,574,546 2,549,226 24,674 646 Derivatives 2,238,647 - 2,216,306 22,341 Guarantee deposits (margin accounts) 323,767 323,767 - - Total 5,622,696 3,354,635 2,245,074 22,987 Liabilities Derivatives 2,139,488 - 2,139,481 7 Guarantees received (margin accounts) 408,313 408,313 - - Total 2,547,801 408,313 2,139,481 7 Fair value measurement As of December 31, 2016 Level 1 Level 2 Level 3 MCh$ MCh$ MCh$ MCh$ Assets Trading investments 396,987 396,011 976 - Available for sale investments 3,388,906 2,471,439 916,808 659 Derivatives 2,500,782 - 2,461,407 39,375 Guarantee deposits (margin accounts) 396,289 396,289 - - Total 6,682,964 3,263,739 3,379,191 40,034 Liabilities Derivatives 2,292,161 - 2,292,118 43 Guarantees received (margin accounts) 480,926 480,926 - - Total 2,773,087 480,926 2,292,118 43 The following table presents assets or liabilities which are not measured at fair value in the statement of financial position but for which the fair value is disclosed, as of December 31, 2017 and 2016: Fair value measurement As of December 31, 2017 Level 1 Level 2 Level 3 MCh$ MCh$ MCh$ MCh$ Assets Loans and accounts receivable from customers and interbank loans, net 28,518,929 - - 28,518,929 Total 28,518,929 - - 28,518,929 Liabilities Deposits and interbank borrowings 20,887,959 - 20,887,959 - I ssued debt instruments and other financial liabilities 7,487,591 - 7,487,591 - Total 28,375,550 - 28,375,550 - Fair value measurement As of December 31, 2016 Level 1 Level 2 Level 3 MCh$ MCh$ MCh$ MCh$ Assets Loans and accounts receivable from customers and interbank loans, net 29,976,931 - - 29,976,931 Total 29,976,931 - - 29,976,931 Liabilities Deposits and interbank borrowings 22,833,009 - 22,833,009 - I ssued debt instruments and other financial liabilities 8,180,322 - 8,180,322 - Total 31,013,331 - 31,013,331 - The fair values of others assets and other liabilities approximate their carrying values. The methods and assumptions to estimate the fair value are defined below: - Loans and amounts due from credit institutions and from customers – Fair value are estimated for groups of loans with similar characteristics. The fair value was measured by discounting estimated cash flow using the interest rate of new contracts. That is, the future cash flow of the current loan portfolio is estimated using the contractual rates, and then the new loans spread over the risk free interest rate are incorporated to the risk free yield curve in order to calculate the loan portfolio fair value. In terms of behavior assumptions, it is important to underline that a prepayment rate is applied to the loan portfolio, thus a more realistic future cash flow is achieved. - Deposits and interbank borrowings – The fair value of deposits was calculated by discounting the difference between the cash flows on a contractual basis and current market rates for instruments with similar maturities. For variable-rate deposits, the carrying amount was considered to approximate fair value. - Issued debt instruments and other financial liabilities – The fair value of long-term loans were estimated by cash flow discounted at the interest rate offered on the market with similar terms and maturities. The valuation techniques used to estimate each level are defined in note 1.h.i) There were no transfer between levels 1 and 2 for the year ended December 31, 2017 and 2016. The table below shows the effect, at December 31, 2017 and 2016, on the fair value of the main financial instruments classified as Level 3 of a reasonable change in the assumptions used in the valuation. This effect was determined by a sensitivity analysis under a 1bp scenario, detailed in the following table: As of December 31, 2017 Instrument Level 3 Valuation technique Main unobservable inputs Impacts (in MCh$) Sens. -1bp Unfavorable scenario Impacts (in MCh$) Sens. +1bp Favorable scenario Derivatives Present Value method Curves on TAB (1) (1.3) 1.3 Available for sale investments Internal rate of return method BR UF (2) - - As of December 31, 2016 Instrument Level 3 Valuation technique Main unobservable inputs Impacts (in MCh$) Sens. -1bp Unfavorable scenario Impacts (in MCh$) Sens. +1bp Favorable scenario Derivatives Present Value method Curves on TAB (1) (12.30) 12.30 Available for sale investments Internal rate of return method BR UF (2) - - (1) TAB: “Tasa Activa Bancaria” (Active Bank Rate). Average interest rates on 30, 90, 180 and 360 day deposits published by the Chilean Association of Banks and Financial Institutions (ABIF) in nominal currency (Chilean peso) and in real terms, adjusted for inflation (in Chilean unit of account (Unidad de Fomento - UF)). (2) BR: “Bonos de Reconocimiento” (Recognition Bonds). The Recognition Bond is an instrument of money provided by the State of Chile to workers who joined the new pension system, which began operating since 1981. The following table presents the Bank’s activity for assets and liabilities measured at fair value on a recurrent basis using unobserved significant inputs (Level 3) as of December 31, 2017 and 2016: Assets Liabilities MCh$ MCh$ As of January 1, 2017 (79,181) 43 Total realized and unrealized profits (losses) Included in statement of income (17,035) (36) Included in other comprehensive income (12) - Purchases, issuances, and loans (net) - - As of December 31, 2017 62,134 7 Total profits or losses included in comprehensive income for 2017 that are attributable to change in unrealized profit (losses) related to assets or liabilities as of December 31, 2016 (17,047) (36) Assets Liabilities MCh$ MCh$ As of January 1, 2016 39,913 - Total realized and unrealized profits (losses) Included in statement of income 39,376 43 Included in other comprehensive income (108) - Purchases, issuances, and loans (net) - - As of December 31, 2016 79,181 43 Total profits or losses included in comprehensive income for 2016 that are attributable to change in unrealized profit (losses) related to assets or liabilities as of December 31, 2015 39,268 43 The realized and unrealized profits (losses) included in comprehensive income for 2017 and 2016, in the assets and liabilities measured at fair value on a recurrent basis through unobservable market data (Level 3) are recorded in the Statement of Comprehensive Income. The potential effect as of December 31, 2017 and 2016 on the valuation of assets and liabilities valued at fair value on a recurrent basis through unobservable significant inputs (level 3), generated by changes in the principal assumptions if other reasonably possible assumptions that are less or more favorable were used, is not considered by the Bank to be significant. The following tables show the financial instruments subject to compensation in accordance with IAS 32, for 2017 and 2016: As of December 2017 Linked financial instruments, compensated in balance Financial instruments Gross amounts Compensated in balance Net amount presented in balance Remains of unrelated and / or unencumbered financial instruments Amount in Statements of Financial Position Assets Ch$ Million Ch$ Million Ch$ Million Ch$ Million Financial derivative contracts 2,029,657 - 2,029,657 208,990 2,238,647 Investments under resale agreements - - - - - Loans and accounts receivable from customers, and Interbank loans, net - - - 26,934,757 26,934,757 Total 2,029,657 - 2,029,657 27,143,747 29,173,404 Liabilities Financial derivative contracts 1,927,654 - 1,927,654 211,834 2,139,488 Investments under resale agreements 268,061 - 268,061 268,061 Deposits and interbank borrowings - - - 21,380,467 21,380,467 Total 2,195,715 - 2,195,715 21,592,301 23,788,016 As of December 2016 Linked financial instruments, compensated in balance Financial instruments Gross amounts Compensated in balance Net amount presented in balance Remains of unrelated and / or unencumbered financial instruments Amount in Statements of Financial Position Assets Ch$ Million Ch$ Million Ch$ Million Ch$ Million Financial derivative contracts 2,237,731 - 2,237,731 263,051 2,500,782 Obligations under repurchase agreements 6,736 - 6,736 - 6,736 Loans and accounts receivable from customers, and Interbank loans, net - - - 26,415,826 26,415,826 Total 2,244,467 - 2,244,467 26,678,877 28,923,344 Liabilities Financial derivative contracts 2,100,955 - 2,100,955 191,206 2,292,161 Investments under resale agreements 212,437 - 212,437 - 212,437 Deposits and interbank borrowings - - - 22,607,392 22,607,392 Total 2,313,392 - 2,313,392 22,798,598 25,111,990 The Bank, in order to reduce its credit exposure in its financial derivative operations, has entered into collateral contracts with its counterparties, in which it establishes the terms and conditions under which they operate. In terms collateral (received/delivered) operates when the net of the fair value of the financial instruments held exceed the thresholds defined in the respective contracts. As of December 31, 2017 As of December 31, 2016 Financial derivative contracts Assets Liability Assets Liability MM$ MM$ MM$ MM$ Financial derivative contracts with collateral agreement threshold equal to zero 1,898,220 1,773,471 2,134,917 1,986,345 Financial derivative contracts with non-zero threshold collateral agreement 221,030 316,840 233,945 238,450 Financial derivative contracts without collateral agreement 119,397 49,177 131,920 67,366 Total 2,238,647 2,139,488 2,500,782 2,292,161 |
RISK MANAGEMENT
RISK MANAGEMENT | 12 Months Ended |
Dec. 31, 2017 | |
Risk Management | |
RISK MANAGEMENT | NOTE 37 RISK MANAGEMENT Introduction and general description The Bank, due to its activities with financial instruments is exposed to several types of risks. The main risks related to financial instruments that apply to the Bank are as follows: - Market risk a. Foreign exchange risk: this arises as a consequence of exchange rate fluctuations among currencies. b. Interest rate risk: this arises as a consequence of fluctuations in market interest rates. c. Price risk: this arises as a consequence of changes in market prices, either due to factors specific to the instrument itself or due to factors that affect all the instruments negotiated in the market. d. Inflation risk: this arises as a consequence of changes in Chile’s inflation rate, whose effect would be mainly applicable to financial instruments denominated in UFs. - Credit risk - Liquidity risk - Capital risk This note includes information on the Bank’s exposure to these risks and on its objectives, policies, and processes involved in their measurement and management. Risk management structure The Board is responsible for the establishment and monitoring of the Bank’s risk management structure, for which purpose it has an on-line corporate governance system which incorporates international recommendations and trends, adapted to Chilean regulatory conditions and given it the ability to apply the most advanced practices in the markets in which the Bank operates. The effectiveness with which we are able to manage the balance between risk and reward is a significant factor in our ability to generate long term, stable earnings growth. Toward that end, our Board and senior management places great emphasis on risk management. A. Integral Risk Committee The Integral Risk Committee of the Board is responsible for reviewing and monitoring all risks that may affect us, including reputation risk, allowing for an integral risk management. This committee serves as the governing body through which the Board supervises risk in general. It also evaluates the reasonability of the systems for measurement and control of risks. Credit risk Market risk Operational risk Solvency risk (BIS) Legal risks Compliance risks Reputational risks This Committee includes the Vice Chairman of the Board and five Board members. This committee also includes the CEO, the Director of Risk and other senior level executives from the commercial side of our business. B. Audit Committee The Audit Committee ( Comité de Directores y Auditoría C. Asset and Liability Committee The ALCO includes the Chairman of the Board and five additional members of the Board, the Chief Executive Officer, the Corporate Financial Controller, the Manager of the Financial Management Division, the Manager of Market Risk, the Manager of the Treasury Division, and other senior members of management. The ALCO meets monthly. All limits reviewed by the ALCO are measured and prepared by the Market Risk Department. The non-Board members of the ALCO meet weekly to review liquidity, funding, capital and market risk related matters. The main functions of the ALCO are: Making the most important decisions regarding our exposure to inflation, interest rate risk, funding, capital and liquidity levels. The main limits set and monitored by the ALCO (and measured by the Market Risk Department) are: Review of the Bank’s inflation gap. Review of the evolution of the most relevant local and international markets and monetary policies. D. Market Committee The Market Committee includes the Vice-Chairman of the Board, three additional members of the Board, the Chief Executive Officer, the Manager of Global Banking and Markets, the Manager of the Treasury Division, the Manager of the Financial Management Division, the Manager of Market Risk, the Financial Controller and other senior members of management. The Market Committee is responsible for: Establishing a strategy for the Bank’s trading investment portfolio. Establishing the Bank’s policies, procedures and limits with respect to its trading portfolio. The Bank’s Market Risk Department measures all risks and limits and reports these to the Market Committee. Reviewing the net foreign exchange exposure and limit Reviewing the evolution of the most relevant local and international markets and monetary policies. E. Risk Department All issues regarding risk in the Bank are the responsibility of the Bank’s Risk Department. The Risk Department reports to the CEO but has full independence, and no risk decisions can be made without its approval. Credit risk Credit risk is the risk that one of the parties to a financial instrument fails to meet its contractual obligations for reasons of insolvency or inability of the individuals or legal entities in question to continue as a going concern, causing a financial loss to the other party. The Bank consolidates all elements and components of credit risk exposure to manage credit risk (e.g. individual delinquency risk, inherent risk of a business line or segment, and/or geographical risk). In Note 9 h), we present our net exposure to credit risk at December 31, 2017 and 2016. Credit Risk Governance The Risk Division, our credit analysis and risk management group, is largely independent of our Commercial Division. Risk evaluation teams interact regularly with our clients. For larger transactions, risk teams in our headquarters work directly with clients when evaluating credit risks and preparing credit applications. Various credit approval committees, all of which include Risk Division and Commercial Division personnel, must verify that the appropriate qualitative and quantitative parameters are met by each applicant. Each committee’s powers are defined by our Board of Directors. Santander-Chile’s governance rules have established the existence of the Integral Risk Committee. This committee is responsible for revising and following all risks that may affect us, including reputational risk, allowing for an integral risk management. This committee serves as the governing body through which the Board supervises all risk functions. It also evaluates the reasonability of the systems for measurement and control of risks. This Committee includes the Vice Chairman of the Board and five Board members. The Board has delegated the duty of credit risk management to the Integral Risk Committee, as well as to the Bank’s risk departments, whose roles are summarized below: Formulation of credit policies, by consulting with the business units, meeting requirements of guarantees, credit evaluation, risk rating and submission of reports, documentation and legal procedures in compliance with the regulatory, legal and internal requirements of the Bank. Establish the structure to approve and renew credit requests. The Bank structures credit risks by assigning limits to the concentration of that risk in terms of individual debtors, debtor groups, industry segment and country. Approval levels are assigned to the correspondent officials of the business unit (commercial, consumer, SMEs) to be exercised by that level of management. In addition, those limits are revised constantly. Teams in charge of risk evaluation at the branch level interact on a regular basis with customers; however, for larger credit requests, the risk team from the head office and the Executive Risk Committee works directly with customers to assess credit risks and prepare risk requests. Limit concentrations of exposure to customers or counterparties in geographic areas or industries (for accounts receivable or loans), and by issuer, credit rating, and liquidity. Develop and maintain the Bank’s credit risk classifications for the purpose of classifying risks according to the degree of exposure to financial loss that is exhibited by the respective financial instruments, with the aim of focusing risk management specifically on the associated risks. Revise and evaluate credit risk. Management’s risk divisions are largely independent of the Bank’s commercial division and evaluate all credit risks in excess of the specified limits prior to loan approvals for customers or prior to the acquisition of specific investments. Credit renewal and reviews are subject to similar processes. The following diagram illustrates the governance of our credit risk division including the committees with approval power: Credit Approval: Loans approved on an individual basis In preparing a credit proposal for a corporate client whose loans are approved on an individual basis, Santander-Chile’s personnel verifies such parameters as debt servicing capacity (typically including projected cash flows), the company’s financial history and projections for the economic sector in which it operates. The Risk Division is closely involved in this process, and prepares the credit application for the client. All proposals contain an analysis of the client’s strengths and weaknesses, a rating and a recommendation. Credit limits are determined not on the basis of outstanding balances of individual clients, but on the direct and indirect credit risk of entire financial groups. For example, a corporation will be evaluated together with its subsidiaries and affiliates. Credit Approval: Loans approved on a group basis The majority of loans to individuals and small and mid-sized companies are approved by the Standardized Risk Area through an automated credit scoring system. This system is decentralized, automated and based on multiple parameters, including demographic and information regarding credit behavior from external sources and the SBIF. Loans analyzed on an individual basis For loans that are greater than Ch$400 million (US$243,170), the Bank uses internal models to assign a risk category level to each borrower and its respective loans. We consider the following risk factors: industry or sector of the borrower, the borrower’s competitive position in its markets, owners or managers of the borrower, the borrower’s financial situation, the borrower’s payment capacity and the borrower’s payment behavior to calculate the estimated incurred loan loss. Through these categories, we differentiate the normal loan portfolio from the impaired one. These are our categories: 1. Debtors may be classified in risk categories A1, A2, A3 or B (A is applicable if they are current on their payment obligations and show no sign of deterioration in their credit quality and B is different from the A categories by a certain history of late payments). The A categories are distinguished by different PNPs (as defined below). 2. Debtors classified as C1, C2, C3, C4, D1 or D2 include debtors whose loans with us have been charged off or administered by our Recovery Unit, or classified as Precontenciosos For loans classified as A1, A2, A3 and B, we assign a specific provision level on an individual basis to each borrower and, therefore, the amount of loan loss allowance is determined on a case by case basis. Estimated Incurred Loan Loss = Loan Loss Allowance The estimated incurred loss is obtained by multiplying all risk factors defined in the following equation: EIL= EXP x PNP x SEV EIL = Estimated Incurred Loan Loss. The estimated incurred loan loss is how much could be lost in the event a debtor does not perform the obligations under the loan. EXP = Exposure. This corresponds to the value of commercial loans. PNP = Probability of Non-Performance. This variable, expressed as a percentage, indicates the probability that a debtor will default. This percentage is associated with the internal rating that we give to each debtor, which is determined by analyzing such parameters as debt servicing capacity. SEV = Severity. This is the effective loss rate given default for debtors in the same segment, which is determined statistically based on the historical effective losses for us for each segment. Every year, models together with PNP and SEV assumptions, are tested by the Bank’s Credit Risk Department, to ensure that they are appropriate at each reporting date so as to make sure any difference between the estimated incurred losses and real losses is reduced. These tests focus on the validation of the sufficiency of the Bank’s allowances, and consist of comparisons between actual write-offs to allowances established by the model, and the coverage of the total allowance to actual write-offs in the most current periods. Individual loan classification and improvements to any customer classification are also presented for approval to our Risk Committee. In accordance with such policy, every year we update appraisals of fair value of collateral before the end of the 24 month period for certain customers and such updated appraisals are considered in the calculation of the allowance for loan losses. The number of updated appraisals performed in 2015 was 43, in 2016 was 142 and 2017 it was 140, and such updated appraisals were performed mainly because of changes in customer conditions (renegotiation deterioration of financial situation increase in credit line). For loans classified in the C and D categories, loan loss allowances are based mainly on the fair value of the collateral, adjusted for an estimate cost to sell, that each of these loans have. Allowance percentage for each category is then based on the fair value of the collateral, or the expected future cash flow from the loan for each individually evaluated non-performing loans. Loans analyzed on a group basis The Bank uses the concept of estimated incurred loss to quantify the allowances levels over loan analyzed on a group basis. Incurred loss is the expected provision expense that will appear one year away from the balance date of the transaction’s credit risk, considering the counterpart risk and the collateral associated to each transaction. Following the Bank’s definition, the Bank uses group evaluation to approach transactions that have similar credit risk features, which indicate the debtor’s payment capacity of the entire debt, capital and interests, pursuant to the contract’s terms. In addition, this allows us to assess a high number of transactions with low individual amounts, whether they belong to individuals or small sized companies. Therefore, debtors and loans with similar features are grouped together and each group has a risk level assigned to it. These models are meant to be used mainly to analyze loans granted to individuals (including consumer loans, credit lines, mortgage loans and commercial loans) and commercial loans to SMEs. Allowances are established using these models, taking into account the historical impairment and other known circumstances at the time of evaluation. After this, a historical loss rate is assigned to each portfolio profile constituting each segment. The method for assigning a profile is established based on a statistical building method, establishing a relation through a logistic regression various variables, such as payment behavior in the Bank, payment behavior outside the Bank, various socio-demographic data, among others, and a response variable that determines a client’s risk level, which in this case is 90 days of non-performance. Afterwards, common profiles are established related to a logical order and with differentiate default rates, applying the real historical loss the Bank has had with that portfolio. Our models for loans analyzed on a group basis (consumer loans, residential mortgage loans and small-and-mid-sized commercial loans) are monitored on a monthly basis with respect to predictability and stability, using indices that seek to capture the underlying need to update the models for current loss trends. Therefore, the periods of historical net charge-offs used in the allowance model may be more than a year old as we only update the historical net charge-offs only when our assessment of predictability and stability indicators determine it is necessary. The different risk categories are constructed and updated periodically based on the payment behavior of the client’s profile to which they belong, as well as his or her socio-demographic characteristics. Therefore, when a customer has past due balance or has missed some payments, the outcome is that the customer will move to a different segment with a higher loss rate, therefore capturing current trends for each risk profile. Once the customers have been classified, the loan loss allowance is the product of three factors: Exposure (EXP), Probability of Non-Performance (PNP) and Severity (SEV). EXP = Exposure. This corresponds to the value of commercial loans. PNP = Probability of Non-Performing. This variable, expressed as a percentage, indicates the probability that a debtor will default. This percentage is associated with the internal score that we give to each debtor, which is determined by analyzing such parameters as debt servicing capacity (including, usually, projected cash flows), the company’s financial history, the solvency and capacity of shareholders and management, and projections for the economic sector in which it operates. The internal rating can be different from ratings obtained from external third parties. SEV = Severity. This is the effective loss rate given default for debtors in the same segment, which is determined statistically based on the historical effective losses for us for each segment. Every year, models together with PNP and SEV assumptions, are tested by the Bank’s Credit Risk Department, to ensure that they are appropriate at each reporting date so as to make sure any difference between the estimated incurred losses and real losses is reduced. Allowances for consumer loans The estimated incurred loss rates for consumer loans correspond to charge-offs net of recoveries. The methodology establishes the period in which the estimated incurred loss for each risk profile emerges. Once the loss has been considered to have been incurred, the estimated incurred loss rates are applied to the corresponding risk profile to obtain the net charge-off level associated with this period. The loss rates applied to each risk profile are based only on the historical net charge-off data for that specific profile within one of the four groups of consumer loans. No other statistical or other information other than net charge-offs is used to determine the loss rates. The following diagrams set forth the allowances required by our current models for consumer loans : Santander: Bank Loan type Allowance Level(1) (Loss rate) Performing New clients Existing clients Banefe (3) 0.53% -19.75% 0.05%-11.92% 0.13%-18.67% Renegotiated consumer loans which were less than 90 days past due at the time of renegotiation (2) 3.66%-30.40% 10.19%-43.71% Consumer Renegotiated consumer loans which were more than 90 days past due at the time of renegotiation (2) 41.50%-100% 51,11%-100% Days Past Due New Clients Existing Clients Previously Renegotiated Bank Previously Renegotiated Banefe (3) 90-120 31.78% 31.78% 41.50% 51.11% Non-performing 120-150 51.17% 51.17% 60.15% 66.65% 150-180 59.98% 59.98% 68.86% 78.50% >180 Charged-off 1. Percentage of loans outstanding 2. This category relates only to loans which were renegotiated and were less than 90 days past due at the time of renegotiation, migrating from such category as they reached 90 days past due since renegotiation. There are two renegotiated categories in our consumer loan portfolio: 1. Renegotiated Consumer which were less than 90 days past due at the time of renegotiation. The allowance for loan loss percentages (or loss rates) are assigned based on eight different risk profiles which are determined based on demographic and payment behavior variables. 2. Renegotiated Consumer which were more than 90 days past due at the time of renegotiation The loss rates are assigned based on four different risk profiles which are determined based on the number of days overdue at the time of renegotiation: Profile 1: 180 or more days past due Profile 2: between 150 and 180 days past due Profile 3: between 120 and 150 days past due Profile 4: between 90 and 120 days past due Small- and mid-sized commercial loans To determine the estimated incurred loss for individuals (natural persons), small- and mid-sized commercial loans collectively evaluated for impairment, we mainly analyze the payment behavior of clients, particularly the payment behavior of clients with payments that are 90 days or more past-due, clients with other weaknesses, such as early non-performance (i.e., payments that are past-due, though by less than 90 days), clients with modified loans and clients with renegotiated loans, as well as success in recovery against these clients. We also consider whether the loan has underlying mortgage collateral. The risk categories are such that when a customer has a past-due balance or has missed some payments, the outcome is that the customer will move to a different risk category with a higher loss rate, therefore capturing current trends of the customer and, in the aggregate, current trends in the market. In order to calculate the estimated incurred loan loss for all commercial loans collectively evaluated for impairment, the Bank sub-divided the portfolio in the following way: Loan type Allowance Level(1) (Loss rate) Commercial loans analyzed on a group basis Performing Commercial loan to individuals w/o mortgage collateral Commercial loan to individuals with mortgage collateral Small Enterprise Mid-sized Enterprise 0.87% -15.70% 0.03%-3.98% 0.21%-14.39% 0.14%-7.31 Renegotiated commercial loans which were less than 90 days past due at the time of renegotiation (2) loan w/o mortgage collateral 2.93%-20.65% loan with mortgage collateral 1.17%-8.25% Renegotiated commercial loans which were more than 90 days past due at the time of renegotiation (2) Days Past Due when renegotiated Commercial loan to individuals w/o mortgage collateral Commercial loan to individuals with mortgage collateral Small Enterprise Mid-sized Enterprise 90-179 41.69% 12.15% 30.95% 18.93% 180-359 67.31% 23.42% 64.47% 51.86% 360-719 75.69% 34.65% 70.15% 63.12% >720 83.82% 46.25% 74.53% 72.87% Non-performing consumer Days Past Due Commercial loan to individuals w/o mortgage collateral Commercial loan to individuals with mortgage collateral Small Enterprise Mid-sized Enterprise Previously renegotiated 90-179 41.69% 12.15% 30.95% 18.93% 18.93% 180-359 67.31% 23.42% 64.47% 51.86% 51.86% 360-719 75.69% 34.65% 70.15% 63.12% 63.12% >720 83.82% 46.25% 74.53% 72.87% 72.87% 1. Percentage of loans outstanding 2. This category relates only to loans which were renegotiated and were less than 90 days past due at the time of renegotiation, migrating from such category as they reached 90 days past due since renegotiation. Allowances for residential mortgage loans The provision methodology for residential mortgage loans takes into consideration different factors in order to group customers with less the 90 days past due into seven different risk profiles. Factors considered, in the first place, are whether the customer is a new customer or with prior history with the Bank. For each of these main categories additional factors are considered in order to develop risk profiles within each risk category, including payment behavior, non-performance less than 90 days, collateral levels, renegotiation history with the Bank, and historical amounts of net charge-offs, among others. The explanation for the initial segregation into three categories, existing, new customer, is as follows: an existing customer is a customer for which there is a broader level of information and history of payment behavior with the Bank, while for a new customer the Bank has no history of payment behavior and only information from the banking system and credit bureaus is available. The risk categories are such that when a customer’s payment behavior deteriorates, the outcome is that the customer will move to a different risk category with a higher loss rate, therefore capturing the current status of the customer. Previous to 2016, mortgage loans with more than 90 days past due balances are assigned a loss rate of 11.01%. In 2016, mortgage loans more than 90 days past due balances are assigned a loss rate depending on the loan to value. We determined that 90 days is appropriate, since our historical analysis of customer’s behavior has shown that after 90 days, customers are likely to default on their obligations, and that, over succeeding periods, the loss incurred does not increase given the high fair value of collateral percentage to loan amount required under our credit policies for this type of loan. Also, we note that the Chilean economy’s stability over the last few years has not resulted in other than insignificant fluctuations in collateral fair values on residential mortgage loan properties. The following table sets forth the required loan loss allowance for residential mortgage loans: Bank Loan type Allowance Level(1) (Loss rate) Residential mortgage Performing Bank (excl Select) Santander Select 0.00%-5.18% 0.00%-3.88% Renegotiated mortgage loans which were less than 90 days past due at the time of renegotiation (2) 0.16%-8.37% Renegotiated mortgage loans which were more than 90 days past due at the time of renegotiation (2) 5.58%-26.25% Non-performing mortgage Loan to Value 0-60 5.58% 60-80 8.48% 80-90 11.93% >90 16.25% 1. Percentage of loans outstanding 2. This category relates only to loans which were renegotiated and were less than 90 days past due at the time of renegotiation, migrating from such category as they reached 90 days past due since renegotiation. The following table shows quality assets and its related provision, based on our internal scoring policy as of December 31, 2017 and 2016: As of December 31, Category 2017 2016 Commercial Portfolio Individual Percentage Allowance Percentage Individual Percentage Allowance Percentage MCh$ % MCh$ % MCh$ % MCh$ % A1 1,051,072 3.79% 827 0.10% 1,599,311 5.88% 923 0.12% A2 5,957,305 21.49% 18,514 2.34% 6,437,930 23.67% 23,757 3.00% A3 2,176,779 7.85% 27,894 3.53% 2,030,867 7.46% 29,668 3.75% B 539,074 1.94% 32,089 4.06% 538,909 1.98% 40,545 5.13% C1 145,033 0.52% 2,604 0.33% 121,893 0.45% 2,176 0.28% C2 56,871 0.21% 5,104 0.65% 51,034 0.19% 4,555 0.58% C3 39,825 0.14% 8,935 1.13% 49,901 0.18% 11,136 1.41% C4 53,261 0.19% 19,120 2.42% 64,118 0.24% 22,894 2.90% D1 71,896 0.26% 41,941 5.30% 73,462 0.27% 42,625 5.39% D2 77,048 0.28% 62,234 7.87% 89,857 0.33% 72,192 9.13% Subtotal 10,168,164 36.67% 219,262 27.73% 11,057,282 40.65% 250,471 31.69% Group Percentage Allowance Percentage Group Percentage Allowance Percentage MCh$ % MCh$ % MCh$ % MCh$ % Commercial Normal portfolio 3,488,633 12.58% 58,728 7.42% 2,741,858 10.08% 58,453 7.39% Impaired portfolio 414,530 1.50% 160,345 20.27% 341,132 1.25% 124,653 15.76% Subtotal 3,903,163 14.08% 219,073 27.69% 3,082,990 11.33% 183,106 23.15% Mortgage Normal portfolio 8,634,351 31.14% 20,174 2.55% 8,221,666 30.22% 23,699 3.00% Impaired portfolio 462,544 1.67% 48,892 6.17% 397,688 1.46% 33,310 4.21% Subtotal 9,096,895 32.81% 69,066 8.72% 8,619,354 31.68% 57,009 7.21% Consumer Normal portfolio 4,230,567 15.26% 114,099 14.42% 4,158,221 15.28% 147,979 18.72% Impaired portfolio 327,125 1.18% 169,657 21.44% 288,584 1.06% 152,040 19.23% Subtotal 4,557,692 16.44% 283,756 35.86% 4,446,805 16.34% 300,019 37.95% Total 27,725,914 100.00% 791,157 100.00% 27,206,431 100.00% 790,605 100.00% See Note 29 for more detail of the Bank’s impaired loans and the associated allowances. Also, see Note 19 for a detail of the maturity of the Bank’s financial assets. Credit quality The Bank determines the credit quality of financial assets using internal credit ratings. The rating process is linked to the Bank’s approval and monitoring processes and is carried out in accordance with risk categories established by current standards. Credit quality is continuously updated based on any favorable or unfavorable developments to customers or their environments, considering aspects such as commercial and payment behavior as well as financial information. See credit quality of loans above. In relation to the credit quality of the investment portfolio, local regulations specify that banks are able to hold only local and foreign fixed–income securities except in certain cases. Additionally, Banco Santander Chile has internal policies to ensure that only securities approved by the Market Risk department, which are stated in the documents “APS” – Products and underlying Approval, are acquired. The Credit Risk Department sets the exposure limits to those approved APS’s . The APS is updated on daily basis. As of December 31, 2017 and 2016, 99% and 76% respectively of our total investment portfolio correspond to securities issued by the Chilean Central Bank and US treasury notes. Maximum exposure to credit risk Financial assets and off-balance sheet commitments For financial assets recognised in the Consolidated Statement of Financial Position, maximum credit risk exposure equals their carrying value. Below is the distribution by financial asset and off-balance sheet commitments of the Bank’s maximum exposure to credit risk as of December 31, 2017 and 2016, without deduction of collateral, security interests or credit improvements received: As of December 31, 2017 2016 Amount of exposure Amount of exposure Note MCh$ MCh$ Deposits in banks 4 839,561 1,709,071 Cash items in process of collection 4 668,145 495,283 Trading investments 5 485,736 396,987 Investments under resale agreements 6 - 6,736 Financial derivative contracts 7 2,238,647 2,500,782 Loans and accounts receivable from customers and interbank loans, net 8 and 9 26,934,757 26,415,826 Available for sale investments 10 2,574,546 3,388,906 Off-balance commitments: Letters of credit issued 201,699 158,800 Foreign letters of credit confirmed 75,499 57,686 Guarantees 1,823,793 1,752,610 Available credit lines 8,135,489 7,548,820 Personal guarantees 81,577 125,050 Other irrevocable credit commitments 260,691 260,266 Total 44,320,140 44,816,823 Foreign derivative contracts As of December 31, 2017, the Bank’s foreign exposure -including counterparty risk in the derivative instruments’ portfolio- was USD 2,090 million or 4.27% of assets. In the table below, exposure to derivative instruments is calculated by using the equivalent credit risk; which equals the replacement carrying amount plus the maximum potential value, considering the cash collateral that minimizes exposure. Below, there are additional details regarding our exposure for those countries classified above 1 and represents our majority of exposure to categories other than 1. Below we detail as of December 31, 2017, considering fair value of derivative instruments. Country Classification Derivative Instruments (adjusted to market) USD MCh$ Deposits USD MCh$ Loans USD MCh$ Financial investments USD MCh$ Total Exposure USD MCh$ Bolivia 3 0.00 0.00 0.06 0.00 0.06 China 2 0.00 0.00 243.95 0.00 243.95 Italy 2 0.00 2.38 0.78 0.00 3.16 México 2 0.00 0.01 0.00 0.00 0.01 Panamá 2 0.63 0.00 0.00 0.00 0.63 Perú 2 3.38 0.00 0.00 0.00 3.38 Thailand 2 0.00 0.00 0.31 0.00 0.31 Turkey 3 0.00 0.00 9.49 0.00 9.49 Total 4.01 2.39 254.59 0.00 260.99 The total amount of this exposure to derivative instruments must be compensated daily with collateral and, therefore, the net credit exposure is USD 0.00. Our exposure to Spain within the group is as follows: Counterpart Country Classification Derivative instruments (market adjusted) MUSD Deposits MUSD Loans MUSD Financial Investments MUSD Exposure Exposure MUSD Banco Santander España (*) Spain 1 9.74 118.26 - - 128.00 Security interests and credit improvements The maximum exposure to credit risk is reduced in some cases by security interests, credit improvements, and other actions which mitigate the Bank’s exposure. Based on the foregoing, the creation of security interests are a necessary but not a sufficient condition for granting a loan; accordingly, the Bank’s acceptance of risks requires the verification of other variables and parameters, such as the ability to pay or generate funds in order to mitigate the risk being taken on. The procedures used for the valuation of security interests utilize the prevailing market practices, which provide for the use of appraisals for mortgage securities, market prices for stock securities, fair value of the participating interest for investment funds, etc. All security interests received must be instrumented properly and registered on the relevant register, as well as have the approval of legal divisions of the Bank. The risk management model includes assessing the existence of adequate and sufficient guarantees that |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 12 Months Ended |
Dec. 31, 2017 | |
Subsequent Events | |
SUBSEQUENT EVENTS | NOTE 38 SUBSEQUENT EVENTS On February 1, 2018, the Bank placed a Senior Bond corresponding to its "T-15" line for 5,000,000 UF. On February 6, 2018, the Bank placed a Senior Bond corresponding to its "T-11" line for 5,000,000 UF. During the Ordinary Board Meeting of Banco Santander Chile, held on February 27, 2018, the following matters were agreed upon: 1. Due to the resignation of Mr. Vittorio Corbo Lioi from the Board, Mr. Claudio Melandri Hinojosa was assigned as Director and Chairman. In accordance with article 49, N° 8 of the General Law of Banks, Mr. Claudio Melandri Hinojosa will temporarily continue exercising the role of Chief Executive Officer until February 28, 2018 (inclusive). 2. Mr. Miguel Mata Huerta, who is currently Deputy General Manager, has been named as Banco Santander Chile’s Chief Executive Officer, assuming this role on March 1, 2018. The position of Deputy General Manager will no longer be used at Banco Santander Chile. During the Ordinary Board Meeting of Banco Santander Chile, held on March 27, 2018, the following matters were agreed upon: 1. Due to the resignation of the directors Mr. Roberto Méndez Torres and Mr. Roberto Zahler Mayanz, as of this date, the Board has announced the appointment of Mr. Félix de Vicente Mingo and Mr. Alfonso Gómez Morales, who will be incorporated as independent directors. 2. Mr. Orlando Poblete Iturrate has been appointed as First Vice President and Mr. Oscar Von Chrismar Carvajal as the Second Vice President. These consolidated financial statements were approved on March 27,2018 by Board of Directors. There are no other subsequent events to be disclosed that occurred between January 1, 2018 and the date of issuance of these Financial Statements (March 27, 2018). |
SUMMARY OF SIGNIFICANT ACCOUN47
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 12 Months Ended |
Dec. 31, 2017 | |
Summary Of Significant Accounting Policies | |
Basis of preparation | a) Basis of preparation These Consolidated Financial Statements have been prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB) (hereinafter referred to as IFRS). For purposes of these financial statements we use certain terms and conventions. References to “US$”, “U.S. dollars” and “dollars” are to United States dollars, references to “EUR” are to European Economic Community Euro, references to “CNY” are to Chinese Yuan, references to “CHF” are to Swiss franc, references to “Chilean pesos”, “pesos” or “Ch$” are to Chilean pesos, and references to “UF” are to Unidades de Fomento. The UF is an inflation-indexed Chilean monetary unit with a value in Chilean pesos that changes daily to reflect changes in the official Consumer Price Index (“CPI”) of the Instituto Nacional de Estadísticas (the Chilean National Institute of Statistics) for the previous month. The UF is revalued in monthly cycles. Each day in the period beginning on the tenth day of the current month through the ninth day of the succeeding month, the nominal peso value of the UF is indexed up (or down in the event of deflation) in order to reflect a proportionate amount of the change in the Chilean Consumer Price Index during the prior calendar month. One UF is equaled to Ch$26,798.14 as of December 31, 2017 and Ch$26,347.98 as of December 31, 2016. In 2017, UF inflation was 2.3% compared to 2.7% in 2016. The effect of any changes in the nominal peso value of our UF-denominated interest earning assets and interest bearing liabilities is reflected in our results of operations as an increase (or decrease, in the event of deflation) in interest income and expense, respectively. The Notes to the Consolidated Financial Statements contain additional information to support the figures submitted in the Consolidated Statement of Financial Position, Consolidated Statement of Income, Consolidated Statement of Comprehensive Income, Consolidated Statement of Changes in Equity and Consolidated Statement of Cash Flows for the period. |
Basis of preparation for the Consolidated Financial Statements | b) Basis of preparation for the Consolidated Financial Statements The Consolidated Financial Statements for the years ended December 31, 2017, 2016 and 2015, incorporate the financial statements of the entities over which the Bank has control (including structured entities); and includes the adjustments, reclassifications and eliminations needed to comply with the accounting and valuation criteria established by IFRS. Control is achieved when the Bank: I. has power over the investee; II. is exposed, or has rights, to variable returns from its involvement with the investee; and III. has the ability to use its power to affect its returns. The Bank reassesses whether or not it controls an investee if facts and circumstances indicate that there are changes to one or more of the three elements of control listed above. When the Bank has less than a majority of the voting rights of an investee, it has power over the investee when the voting rights are sufficient to give it the practical ability to direct the relevant activities over the investee unilaterally. The Bank considers all relevant facts and circumstances in assessing whether or not the Bank’s voting rights in an investee are sufficient to give it power, including: · · · · Consolidation of a subsidiary begins when the Bank obtains control over the subsidiary and ceases when the Bank loses control over the subsidiary. Specifically, income and expenses of a subsidiary acquired or disposed of during the year are included in the Consolidated Statement of Income and in the Consolidated Statement of Comprehensive Income from the date the Bank gains control until the date when the Bank ceases to control the subsidiary. Profit or loss and each component of other comprehensive income are attributed to the owners of the Bank and to the non-controlling interests. Total comprehensive income of subsidiaries is attributed to the owners of the Bank and to the non-controlling interests even if this results in the non-controlling interests having a deficit in certain circumstances. When necessary, adjustments are made to the financial statements of the subsidiaries to ensure their accounting policies are consistent with the Bank’s accounting policies. All intragroup assets, liabilities, equity, income, expenses and cash flows relating to transactions between consolidated entities are eliminated in full on consolidation. Changes in the consolidated entities ownership interests in subsidiaries that do not result in a loss of control over the subsidiaries are accounted for as equity transactions. The carrying values of the Bank’s equity and the non-controlling interests’ equity are adjusted to reflect the changes to their relative interests in the subsidiaries. Any difference between the amount by which the non-controlling interests are adjusted and the fair value of the consideration paid or received is recognized directly in equity and attributed to owners of the Bank. In addition, third parties’ shares in the Bank’s consolidated equity are presented as “Non-controlling interests” in the Consolidated Statement of Changes in Equity. Their share in the income for the year is presented as “Attributable to non-controlling interest” in the Consolidated Statement of Income. The following companies are considered entities controlled by the Bank and are therefore within the scope of consolidation: i. Entities controlled by the Bank through participation in equity Name of the Subsidiary Percent ownership share As of December 31, Place of Incorporation and operation 2017 2016 2015 Direct Indirect Total Direct Indirect Total Direct Indirect Total Main Activity % % % % % % % % % Santander Corredora de Seguros Limitada Insurance brokerage Santiago, Chile 99.75 0.01 99.76 99.75 0.01 99.76 99.75 0.01 99.76 Santander Corredores de Bolsa Limitada(*) Financial instruments brokerage Santiago, Chile 50.59 0.41 51.00 50.59 0.41 51.00 50.59 0.41 51.00 Santander Agente de Valores Limitada Securities brokerage Santiago, Chile 99.03 - 99.03 99.03 - 99.03 99.03 - 99.03 Santander S.A. Sociedad Securitizadora Purchase of credits and issuance of debt instruments Santiago, Chile 99.64 - 99.64 99.64 - 99.64 99.64 - 99.64 The detail of non-controlling participation on all the remaining subsidiaries can be seen in Note 24– Non-controlling interest. ii. Entities controlled by the Bank through other considerations The following companies have been consolidated based on the determination that the Bank has control as previously defined above and in accordance with IFRS 10, Consolidated Financial Statements - Santander Gestión de Recaudación y Cobranza Limitada (collection services) - Bansa Santander S.A. (management of repossessed assets and leasing of properties) iii. Associates An associate is an entity over which the Bank has significant influence. Significant influence, in this case, is defined as the power to participate in the financial and operating policy decisions of the investee but is not control or joint control over those policies. An investment in an associate is accounted for using the equity method from the date on which the investee becomes an associate. The following companies are considered “Associates” in which the Bank accounts for its participation using the equity method: Percentage of ownership share As of December 31, Place of Incorporation and operation 2017 2016 2015 Associates Main activity % % % Redbanc S.A. ATM services Santiago, Chile 33.43 33.43 33.43 Transbank S.A. Debit and credit card services Santiago, Chile 25.00 25.00 25.00 Centro de Compensación Automatizado Electronic fund transfer and compensation services Santiago, Chile 33.33 33.33 33.33 Sociedad Interbancaria de Depósito de Valores S.A. Delivery of securities on public offer Santiago, Chile 29.29 29.29 29.29 Cámara Compensación de Alto Valor S.A. Payments clearing Santiago, Chile 15.00 14.93 14.23 Administrador Financiero del Transantiago S.A. Administration of boarding passes to public transportation Santiago, Chile 20.00 20.00 20.00 Sociedad Nexus S.A. Credit card processor Santiago, Chile 12.90 12.90 12.90 Servicios de Infraestructura de Mercado OTC S.A. Administration of the infrastructure for the financial market of derivative instruments Santiago, Chile 12.07 12.07 11.11 In the case of Sociedad Nexus S.A. and Cámara Compensación de Pagos Alto Valor S.A., Banco Santander Chile has a representative on the Board of Directors. As per the definition of associates, the Bank has concluded that it exerts significant influence over those entities. During 2017, Rabobank Chile in liquidation process and Banco París, ceded to Banco Santander Chile a portion of its share in the company "Sociedad Operadora de la Cámara de Compensación de pagos de Alto Valor S.A.", thereby increasing the Bank's share. During the last quarter of 2016, Banco Penta ceded to Banco Santander Chile a portion of its share in the companies "Sociedad Operadora de la Cámara de Compensación de pagos de Alto Valor S.A." and "Servicios de Infraestructura de Mercado OTC S.A.", thereby increasing the Bank's share to 14.93% and 12.07% respectively. As of the ended (2016), Deutsche Bank ceded to Banco Santander Chile a portion of its share in the companies "Sociedad Operadora de la Cámara de Compensación de pagos de Alto Valor S.A." and "Servicios de Infraestructura de Mercado OTC S.A.", thereby increasing the Bank's share to 14.84% and 11.93% respectively. At the Extraordinary Shareholders meeting held in April 21, 2016, Transbank S.A. agreed to increase its capital by capitalizing the accumulated profits, through the placement of shares for Ch$4,000 million approximately. Banco Santander Chile participated proportionally in its participation (25%), therefore subscribed and paid in for Ch$1,000 million. Previously, Transbank agreed to capital increase at an Extraordinary Shareholders' Meeting held in April 2015, Banco Santander subscribed to that agreement, maintaining its ownership. In October 2015, HSBC Bank Chile sold its ownership share in Camara de Compensación de Pagos de Alto Valor S.A. to Banco Santander Chile, increasing its participation to 14.23%. |
Non-controlling interest | c) Non-controlling interest Non-controlling interest represents the portion of net income and net assets which the Bank does not own, either directly or indirectly. It is presented as “Attributable to non-controlling interest” separately in the Consolidated Statement of Income, and separately from shareholders’ equity in the Consolidated Statement of Financial Position. In the case of entities controlled by the Bank through other considerations, income and equity are presented in full as non-controlling interest, since the Bank controls them, but does not have any ownership expressed as a percentage. |
Reporting segments | d) Reporting segments Operating segments are components of an entity: i. that engages in business activities from which it may earn revenues and incur expenses (including revenues and expenses from transactions with other components of the same entity); ii. whose operating results are regularly reviewed by the entity’s chief executive officer, who makes decisions about resources allocated to the segment and assess its performance; and iii. for which discrete financial information is available. Two or more segments can be combined only if aggregation is consistent with International Financial Reporting Standard 8 “Operating Segments” (IFRS 8) and the segments have similar economic characteristics and are similar in each of the following respects: i. the nature of the products and services; ii. the nature of the production processes; iii. the type or class of customers that use their products and services; iv. the methods used to distribute their products or services; and v. if applicable, the nature of the regulatory environment, for example, banking, insurance, or public utilities. The Bank reports separately on each operating segment that exceeds any of the following quantitative thresholds: i. its reported revenue, from both external customers and intersegment sales or transfers, is 10% or more of the combined internal and external revenue of all the operating segments. ii. the absolute amount of its reported profit or loss is 10% or more of the greater in absolute amount of: (i) the combined reported profit of all the operating segments that did not report a loss; (ii) the combined reported loss of all the operating segments that reported a loss. iii. its assets represent 10% or more of the combined assets of all the operating segments. Operating segments that do not meet any of the quantitative threshold may be treated as segments to be reported, in which case the information must be disclosed separately if management believes it could be useful for the users of the Consolidated Financial Statements. Information about other business activities of the operating segments not separately reported is combined and disclosed in the “Other segments” category. |
Functional and presentation currency | e) Functional and presentation currency According to International Accounting Standard (IAS) 21 “The Effects of Changes in Foreign Exchange Rates”, the Chilean peso, which is the currency of the primary economic environment in which the Bank operates and the currency which influences its costs and revenue structure, has been defined as the Bank’s functional and presentation currency. Accordingly, all balances and transactions denominated in currencies other than the Chilean Peso are treated as “foreign currency”. The Bank maintains its accounting records and prepares its financial statements in Chilean pesos. The US dollar amounts disclosed in the accompanying financial statements are presented solely for the convenience of the reader as of December 31, 2017 using the observed exchange rate of Ch$616.85 per US$1.00. Such translations should not be construed as representations that the (local currency) amounts represent, or have been or could be converted into, United States dollars at that or any other rate. |
Foreign currency transactions | f) Foreign currency transactions The Bank makes transactions in amounts denominated in foreign currencies, mainly the U.S. dollar. Assets and liabilities denominated in foreign currencies, held by the Bank are translated to Chilean pesos based on the market rate published by Reuters at 1:30 p.m. representative of the month end reported; the rate used was Ch$616.85 per US$1 as of December 31, 2017 (Ch$666.00 per US$1 as of December, 2016). The amounts of net foreign exchange gains and losses includes recognition of the effects that exchange rate variations have on assets and liabilities denominated in foreign currencies and the profits and losses on foreign exchange spot and forward transactions undertaken by the Bank. |
Definitions and classification of financial instruments | g) Definitions and classification of financial instruments i. Definitions A “financial instrument” is any contract that gives rise to a financial asset of one entity, and a financial liability or equity instrument of another entity. An “equity instrument” is a legal transaction that evidences a residual interest in the assets of an entity deducting all of its liabilities. A “financial derivative” is a financial instrument whose value changes in response to the changes in an underlying observable market variable (such as an interest rate, a foreign exchange rate, a financial instrument’s price, or a market index, including credit ratings), whose initial investment is very small compared with other financial instruments having a similar response to changes in market factors, and which is generally settled at a future date. “Hybrid financial instruments” are contracts that simultaneously include a non-derivative host contract together with a financial derivative, known as an embedded derivative, which is not separately transferable and has the effect that some of the cash flows of the hybrid contract vary in a way similar to a stand-alone derivative. ii. Classification of financial assets for measurement purposes Financial assets are classified into the following specified categories: trading investments at fair value through profit or loss (FVTPL), ‘held to maturity investments’, ‘available for sale investments (AFS)’ and ‘loans and accounts receivable from customers'. The classification depends on the nature and purpose of the financial assets and is determined at the time of initial recognition. All regular purchases or sales of financial asset are recognized and derecognized on a trade basis. Regular way purchases or sales of financial assets require delivery of the asset within the time frame established by regulation or convention in the marketplace. Financial assets are initially recognized at fair value plus, in the case of a financial assets not at fair value through profit or loss, transaction costs that are directly attributable to the acquisition or issue. Effective interest method The effective interest method is a method of calculating the amortised cost of a debt instrument and of allocating interest income over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash receipts (including all fees and points paid or received that form an integral part of the effective interest rate, transaction costs and other premiums or discounts) through the expected life of the debt instrument, or, where appropriate, a shorter period, to the net carrying amount on initial recognition. Income is recognised on an effective interest basis for loans and accounts receivables other than those financial assets classified as at fair value through profit or loss. Financial assets FVTPL - Trading investments Financial assets are classified as FVTPL when the financial asset is either held for trading or it is designated as at fair value through profit or loss. A financial asset is classified as held for trading if: · it has been acquired principally for the purpose of selling it in the near term; or · on initial recognition it is part of a portfolio of identified financial instruments that the Bank manages together and has a recent actual pattern of short-term profit-taking; or · it is a derivative that is not designated and effective as a hedging instrument. A financial asset other than a financial asset held for trading may be designated as FVTPL upon initial recognition if: · such designation eliminates or significantly reduces a measurement or recognition inconsistency that would otherwise arise; or · the financial asset forms part of a group of financial assets or financial liabilities or both, which is managed and its performance is evaluated on a fair value basis, in accordance with the Bank's documented risk management or investment strategy, and information about the grouping is provided internally on that basis; or · it forms part of a contract containing one or more embedded derivatives, and IAS 39 permits the entire combined contract to be designated as FVTPL. Financial assets at FVTPL are stated at fair value, with any gains or losses arising on remeasurement recognised in profit or loss. The net gain or loss recognised in profit or loss incorporates any dividend or interest earned on the financial asset and is included in the ‘net income (expense) from financial operations' line item. Held to maturity investments Held-to-maturity investments are non-derivative financial assets with fixed or determinable payments and fixed maturity dates that the Bank has the positive intent and ability to hold to maturity. Subsequent to initial recognition, held-to-maturity investments are measured at amortised cost using the effective interest method less any impairment. Available for sale investments (AFS investments) AFS investments are non-derivatives that are either designated as AFS or are not classified as (a) loans and accounts receivable from customers, (b) held-to-maturity investments or (c) financial assets at fair value through profit or loss (trading investments). Financial instruments held by the Bank that are traded in an active market are classified as AFS and are stated at fair value at the end of each reporting period. The Bank also has investments in financial instruments that are not traded in an active market but that are also classified as AFS investments and stated at fair value at the end of each reporting period (because the Bank considers that fair value can be reliably measured). Changes in the carrying amount of AFS monetary financial assets relating to changes in foreign currency rates, interest income calculated using the effective interest method and dividends on AFS equity investments are recognised in profit or loss. Other changes in the carrying amount of available for sale investments are recognised in other comprehensive income and accumulated under the heading of “Valuation Adjustment”. When the investment is disposed of or is determined to be impaired, the cumulative gain or loss previously accumulated in the investments revaluation reserve is reclassified to profit or loss. Dividends on AFS equity instruments are recognised in profit or loss when the Bank's right to receive the dividends is established. The fair value of AFS monetary financial assets denominated in a foreign currency is determined in that foreign currency and translated as the described in f) above. The foreign exchange gains and losses that are recognised in profit or loss are determined based on the amortised cost of the monetary asset. Loans and accounts receivable from customers Loans and accounts receivable from customers are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. Loans and accounts receivables from customers (including loans and accounts receivable from customers and interbank loans) are measured at amortised cost using the effective interest method, less any impairment. Interest income is recognised by applying the effective interest rate, except for short-term receivables when the effect of discounting is immaterial. iii. Classification of financial assets for presentation purposes For presentation purposes, the financial assets are classified by their nature into the following line items in the Consolidated Financial Statements: - Cash and deposits in banks: this line includes cash balances, checking accounts and on-demand deposits with the Central Bank of Chile and other domestic and foreign financial institutions. Amounts invested as overnight deposits are included in this item. - Cash items in process of collection: this item represents domestic transactions in the process of transfer through a central domestic clearinghouse or international transactions which may be delayed in settlement due to timing differences, etc. - Trading investments: this item includes financial instruments held-for-trading and investments in mutual funds which must be adjusted to their fair value in the same way as instruments acquired for trading. - Investments under resale agreements: includes balances of financial instruments purchased under resale agreement. - Financial derivative contracts: financial derivative contracts with positive fair values are presented in this item. It includes both independent contracts as well as derivatives that should and can be separated from a host contract, whether they are for trading or accounted for as derivatives held for hedging, as shown in Note 7 to the Consolidated Financial Statements. · Trading derivatives: includes the fair value of derivatives which do not qualify for hedge accounting, including embedded derivatives separated from hybrid financial instruments. · Hedging derivatives: includes the fair value of derivatives designated as being in a hedging relationship, including the embedded derivatives separated from the hybrid financial instruments. - Interbank loans: this item includes the balances of transactions with domestic and foreign banks, including the Central Bank of Chile, other than those reflected in certain other financial asset classifications listed above. - Loans and accounts receivables from customers: these loans are non-derivative financial assets for which fixed or determined amounts are charged, that are not listed on an active market and which the Bank does not intend to sell immediately or in the short term. When the Bank is the lessor in a lease, and it substantially transfers the risks and rewards incidental to the leased asset, the transaction is presented in loans and accounts receivable from customers while the leased asset is derecognized in the Bank´s statement of financial position. - Investment instruments: are classified into two categories: held-to-maturity investments, and available-for-sale investments. The held-to-maturity investment classification includes only those instruments for which the Bank has the ability and intent to hold to maturity. The remaining investments are treated as available for sale. iv. Classification of financial liabilities for measurement purposes Financial liabilities are classified as either financial liabilities at FVTPL or other financial liabilities. Financial liabilities at FVTPL As of December 31, 2017 and 2016 the Bank does not maintain financial liabilities at FVTPL. Other financial liabilities Other financial liabilities (including interbank borrowings, issued debt instruments and other payables) are initially recorded at fair value and subsequently measured at amortised cost using the effective interest method. v. Classification of financial liabilities for presentation purposes The financial liabilities are classified by their nature into the following line items in the consolidated statements of financial position: - Deposits and other on- demand liabilities: this includes all on-demand obligations except for term savings accounts, which are not considered on-demand instruments in view of their special characteristics. Obligations whose payment may be required during the period are deemed to be on-demand obligations. Operations which become callable the day after the closing date are not treated as on-demand obligations. - Cash items in process of being cleared: this represents domestic transactions in the process of transfer through a central domestic clearing house or international transactions which may be delayed in settlement due to timing differences, etc. - Obligations under repurchase agreements: this includes the balances of sales of financial instruments under securities repurchase and loan agreements. The Bank does not record in its own portfolio instruments acquired under repurchase agreements. - Time deposits and other time liabilities: this shows the balances of deposit transactions in which a term at the end of which they become callable has been stipulated. - Financial derivative contracts: this includes financial derivative contracts with negative fair values (i.e. a liability of the Bank), whether they are for trading or for hedge accounting, as set forth in Note 7. · Trading derivatives: includes the fair value of derivatives which do not qualify for hedge accounting, including embedded derivatives separated from hybrid financial instruments. · Hedging derivatives: includes the fair value of derivatives designated as being in a hedging relationship, including the embedded derivatives separated from the hybrid financial instruments. - Interbank borrowings: this includes obligations due to other domestic banks, foreign banks, or the Central Bank of Chile, other than those reflected in certain other financial liability classifications listed above. - Issued debt instruments: there are three types of instruments issued by the Bank: Obligations under letters of credit, Subordinated bonds and Senior bonds placed in the local and foreign market. - Other financial liabilities: this item includes credit obligations to persons other than domestic banks, foreign banks, or the Central Bank of Chile, for financing purposes or operations in the normal course of business. |
Valuation of financial instruments and recognition of fair value changes | h) Valuation of financial instruments and recognition of fair value changes In general, financial assets and liabilities are initially recognized at fair value which, in the absence of evidence to the contrary, is deemed to be the transaction price. Financial instruments, other than those measured at fair value through profit or loss, are initially recognized at fair value plus transaction costs. Subsequently, and at the end of each reporting period, financial instruments are measured pursuant to the following criteria: i. Valuation of financial instruments Financial assets are measured according to their fair value, gross of any transaction costs that may be incurred in the course of a sale, except for loans and accounts receivable from customers. “Fair value” is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction in the principal (or most advantageous) market at the measurement date under current market conditions (i.e. an exit price) regardless of whether that price is directly observable or estimated using another valuation technique. When measuring fair value an entity shall take into account the characteristics of the asset or liability if market participants would take those characteristics into account when pricing the asset or liability at the measurement date. The fair value measurement assumes that the transaction to sell the asset or transfer the liability takes place either: (a) in the principal market for the asset or liability, or (b) in the absence of a principal market, the most advantageous market for the asset or liability. Even when there is no observable market to provide pricing information in connection with the sale of an asset or the transfer of a liability at the measurement date, the fair value measurement shall assume that the transaction takes place, considered from the perspective of a potential market participant who intends to maximize value associated with the asset or liability. When using valuation techniques, the Bank shall maximize the use of relevant observable inputs and minimize the use of unobservable inputs as available. If an asset or a liability measured at fair value has a bid price and an ask price, the price within the bid-ask spread that is most representative of fair value in the circumstances shall be used to measure fair value regardless of where the input is categorized within the fair value hierarchy (i.e. Level 1, 2 or 3). IFRS 13 establishes a fair value hierarchy that categorizes into three levels the inputs to valuation techniques used to measure fair value. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities (Level 1 inputs) and the lowest priority to unobservable inputs (Level 3 inputs). All derivatives are recorded in the Consolidated Statements of Financial Position at the fair value previously described. This value is compared to the valuation as at the trade date. If the fair value is subsequently measured positive, this is recorded as an asset. If the fair value is subsequently measured negative, this is recorded as a liability. The fair value on the trade date is deemed, in the absence of evidence to the contrary, to be the transaction price. The changes in the fair value of derivatives from the trade date are recorded in “Net income (expense) from financial operations” in the Consolidated Statement of Income. Specifically, the fair value of financial derivatives included in the portfolios of financial assets or liabilities held for trading is deemed to be their daily quoted price. If, for exceptional reasons, the quoted price cannot be determined on a given date, the fair value is determined using similar methods to those used to measure over the counter (OTC) derivatives. The fair value of OTC derivatives is the sum of the future cash flows resulting from the instrument, discounted to present value at the date of valuation (“present value” or “theoretical close”) using valuation techniques commonly used by the financial markets: “net present value” (NPV) and option pricing models, among other methods. Also, within the fair value of derivatives are included Credit Valuation Adjustment (CVA) and Debit Valuation Adjustment (DVA), all with the objective that the fair value of each instrument includes the credit risk of its counterparty and Bank´s own risk. The Credit valuation adjustment (CVA) is a valuation adjustment to OTC derivatives as a result of the risk associated with the credit exposure assumed by each counterparty. The CVA is calculated taking into account potential exposure to each counterparty in each future period. The debit valuation adjustment (DVA) is a valuation adjustment similar to the CVA but, in this case, it arises as a result of the Bank’s own risk assumed by its counterparties in OTC derivatives. As of December 31, 2017, CVA and DVA amounts to MCh$8,142 and MCh$15,406, respectively. “Loans and accounts receivable from customers” and Held-to-maturity instrument portfolio are measured at amortized cost using the effective interest method. Amortized cost is the acquisition cost of a financial asset or liability, plus or minus, as appropriate, prepayments of principal and the cumulative amortization (recorded in the consolidated income statement) of the difference between the initial cost and the maturity amount as calculated under the effective interest method. For financial assets, amortized cost also includes any reductions for impairment or uncollectibility. For loans and accounts receivable designated as hedged items in fair value hedges, the changes in their fair value related to the risk or risks being hedged are recorded in “Net income (expense) from financial operations”. The “effective interest rate” is the discount rate that exactly matches the initial amount of a financial instrument to all its estimated cash flows over its remaining life. For fixed-rate financial instruments, the effective interest rate incorporates the contractual interest rate established on the acquisition date plus, where applicable, the fees and transaction costs that are a part of the financial return are included. For floating-rate financial instruments, the effective interest rate matches the current rate of return until the date of the next review of interest rates. ii. Valuation techniques Financial instruments at fair value, determined on the basis of price quotations in active markets, include government debt securities, private sector debt securities, equity shares, short positions, and fixed-income securities issued. In cases where price quotations cannot be observed in available markets, the Bank’s management determines a best estimate of the price that the market would set using its own internal models. In most cases, these models use data based on observable market parameters as significant inputs however for some valuations of financial instruments, significant inputs are unobservable in the market. To determine a value for those instruments, various techniques are employed to make these estimates, including the extrapolation of observable market data. The most reliable evidence of the fair value of a financial instrument on initial recognition usually is the transaction price, however due to lack of availability of market information, the value of the instrument may be derived from other market transactions performed with the same or similar instruments or may be measured by using a valuation technique in which the variables used include only observable market data, mainly interest rates. The main techniques used as of December 31, 2017 and 2016 by the Bank’s internal models to determine the fair value of the financial instruments are as follows: i. In the valuation of financial instruments permitting static hedging (mainly forwards and swaps), the present value method is used. Estimated future cash flows are discounted using the interest rate curves of the related currencies. The interest rate curves are generally observable market data. ii. In the valuation of financial instruments requiring dynamic hedging (mainly structured options and other structured instruments), the Black-Scholes model is normally used. Where appropriate, observable market inputs are used to obtain factors such as the bid-offer spread, exchange rates, volatility, correlation indexes and market liquidity. iii. In the valuation of certain financial instruments exposed to interest rate risk, such as interest rate futures, caps and floors, the present value method (futures) and the Black-Scholes model (plain vanilla options) are used. The main inputs used in these models are observable market data, including the related interest rate curves, volatilities, correlations and exchange rates. The fair value of the financial instruments calculated by the aforementioned internal models considers contractual terms and observable market data, which include interest rates, credit risk, exchange rates, quoted market price of shares, volatility and prepayments, among others. The Bank’s management considers that its valuation models are not significantly subjective, since these methodologies can be adjusted and evaluated, as appropriate, through the internal calculation of fair value and the subsequent comparison with the related actively traded price. iii. Hedging transactions The Bank uses financial derivatives for the following purposes: i. to sell to customers who request these instruments in the management of their market and credit risks; ii. to use these derivatives in the management of the risks of the Bank entities’ own positions and assets and liabilities (“hedging derivatives”), and iii. to obtain profits from changes in the price of these derivatives (trading derivatives). All financial derivatives that are not held for hedging purposes are accounted for as trading derivatives. A derivative qualifies for hedge accounting if all the following conditions are met: 1. The derivative hedges one of the following three types of exposure: a. Changes in the value of assets and liabilities due to fluctuations, among others, in the interest rate and/or exchange rate to which the position or balance to be hedged is subject (“fair value hedge”); b. Changes in the estimated cash flows arising from financial assets and liabilities, and highly probable forecasted transactions (“cash flow hedge”); c. The net investment in a foreign operation (“hedge of a net investment in a foreign operation”). 2. It is effective in offsetting exposure inherent in the hedged item or position throughout the expected term of the hedge, which means that: a. At the date of arrangement the hedge is expected, under normal conditions, to be highly effective (“prospective effectiveness”). b. There is sufficient evidence that the hedge was actually effective during the life of the hedged item or position (“retrospective effectiveness”). 3. There must be adequate documentation evidencing the specific designation of the financial derivative to hedge certain balances or transactions and how this effective hedge was expected to be achieved and measured, provided that this is consistent with the Bank’s management of own risks. The changes in the value of financial instruments qualifying for hedge accounting are recorded as follows: a. For fair value hedges, the gains or losses arising on both hedging instruments and the hedged items (attributable to the type of risk being hedged) are included as “Net income (expense) from financial operations” in the Consolidated Statement of Income. b. For fair value hedges of interest rate risk on a portfolio of financial instruments, gains or losses that arise in measuring hedging instruments within “Interest income and expense”, and other gains or losses due to changes in fair value of the underlying hedged item (attributable to the hedged risk) are recorded in the Consolidated Statement of Income under “Net income (expense) from financial operations”. c. For cash flow hedges, the change in fair value of the hedging instrument is included as “Cash flow hedge” in “Other comprehensive income”. d. The differences in valuation of the hedging instrument corresponding to the ineffective portion of the cash flow hedging transactions are recorded directly in the Consolidated Statement of Income under “Net income (expense) from financial operations”. If a derivative designated as a hedging instrument no longer meets the requirements described above due to expiration, ineffectiveness or for any other reason, hedge accounting treatment is discontinued. When “fair value hedging” is discontinued, the fair value adjustments to the carrying amount of the hedged item arising from the hedged risk are amortized to gain or loss from that date, where applicable. When cash flow hedges are discontinued, any cumulative gain or loss of the hedging instrument recognized under “Other comprehensive income” (from the period when the hedge was effective) remains recorded in equity until the hedged transaction occurs, at which time it is recorded in the Consolidated Statement of Income, unless the transaction is no longer expected to occur, in which case any cumulative gain or loss is recorded immediately in the Consolidated Statement of Income. iv. Offsetting of financial instruments Financial asset and liability balances are offset, i.e., reported in the Consolidated Statements of Financial Position at their net amount, only if there is a legally enforceable right to offset the recorded amounts and the Bank intends either to settle them on a net basis or to realize the asset and settle the liability simultaneously. As of December 31, 207 and 2016 the Bank does not have balance offsetting of financial instruments. v. Derecognition of financial assets and liabilities The accounting treatment of transfers of financial assets is determined by the extent and the manner in which the risks and rewards associated with the transferred assets are transferred to third parties: i. If the Bank transfers substantially all the risks and rewards of ownership to third parties, as in the case of unconditional sales of financial assets, sales under repurchase agreements at fair value at the date of repurchase, sales of financial assets with a purchased call option or written put option deeply out of the money, utilization of assets in which the transferor does not retain subordinated debt nor grants any credit enhancement to the new holders, and other similar cases, the transferred financial asset is derecognized from the Consolidated Statement of Financial Position and any rights or obligations retained or created in the transfer are simultaneously recorded. ii. If the Bank retains substantially all the risks and rewards of ownership associated with the transferred financial asset, as in the case of sales of financial assets under repurchase agreements at a fixed price or at the sale price plus interest, securities lending agreements under which the borrower undertakes to return the same or similar assets, and other similar cases, the transferred financial asset is not derecognized from the Consolidated Statement of Financial Position and continues to be measured by the same criteria as those used before the transfer. However, the following items are recorded: - An associated financial liability for an amount equal to the consideration received; this liability is subsequently measured at amortized cost. - Both the income from the transferred (but not removed) financial asset as well as any expenses incurred due to the new financial liability. iii. If the Bank neither transfers nor substantially retains all the risks and rewards of ownership associated with the transferred financial asset—as in the case of sales of financial assets with a purchased call option or written put option that is not deeply in or out of the money, securitization of assets in which the transferor retains a subordinated debt or other type of credit enhancement for a portion of the transferred asset, and other similar cases—the following distinction is made: If the transferor does not retain control of the transferred financial asset: the asset is derecognized from the Consolidated Statement of Financial Position and any rights or obligations retained or created in the transfer are recognized. b. If the transferor retains control of the transferred financial asset: it continues to be recognized in the Consolidated Statement of Financial Position for an amount equal to its exposure to changes in value and a financial liability associated with the transferred financial asset is recorded. The net carrying amount of the transferred asset and the associated liability is the amortized cost of the rights and obligations retained, if the transferred asset is measured at amortized cost, or the fair value of the rights and obligations retained, if the transferred asset is measured at fair value. Accordingly, financial assets are only derecognized from the Consolidated Statement of Financial Position when the rights over the cash flows they generate have terminated or when all the inherent risks and rewards of ownership have been substantially transferred to third parties. Similarly, financial liabilities are only derecognized from the Consolidated Statement of Financial Position when the obligations specified in the contract are discharged or cancelled or the contract has matured. |
Recognizing income and expenses | i) Recognizing income and expenses The most significant criteria used by the Bank to recognize its revenues and expenses are summarized as follows: i. Interest revenue, interest expense, and similar items Interest revenue and expense are recorded on an accrual basis using the effective interest method. ii. Commissions, fees, and similar items Fee and commission income and expenses are recognized in the Consolidated Statement of Income using criteria that vary according to their nature. The main criteria are: - Fee and commission income and expenses on financial assets and liabilities are recognized when they are earned. - Those arising from transactions or services that are performed over a period of time are recognized over the life of these transactions or services. - Those relating to services provided in a single transaction are recognized when the single transaction is performed. iii. Loan arrangement fees Fees that arise as a result of the origination of a loan, mainly application and analysis-related fees, are deferred and charged to the Consolidated Statement of Income over the term of the loan. |
Impairment | j) Impairment i. Financial assets: A financial asset, other than that at fair value through profit and loss, is evaluated on each financial statement filing date to determine whether objective evidence of impairment exists. A financial asset or group of financial assets will be impaired if, and only if, objective evidence of impairment exists as a result of one or more events that occurred after initial recognition of the asset (“event causing the loss”), and this event or events causing the loss have an impact on the estimated future cash flows of a financial asset or group of financial assets. An impairment loss relating to financial assets recorded at amortized cost is calculated as the difference between the recorded amount of the asset and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate. Individually significant financial assets are individually tested to determine their impairment. The remaining financial assets are evaluated collectively in groups that share similar credit risk characteristics. All impairment losses are recorded in income. Any impairment loss relating to a financial asset available for sale previously recorded in equity is transferred to profit or loss. The reversal of an impairment loss occurs only if it can be objectively related to an event occurring after the initial impairment loss was recorded. The reversal of an impairment loss shall not exceed the carrying amount that would have been determined if no impairment loss has been recognized for the asset in prior years. The reversal is recorded in income with the exception of available for sale equity financial assets, in which case it is recorded in other comprehensive income. ii. Non-financial assets: The Bank’s non-financial assets, are reviewed at the reporting date to determine whether they show signs of impairment (i.e. its carrying amount exceeds its recoverable amount). If any such evidence exists, the recoverable amount of the asset is estimated, in order to determine the extent of the impairment loss. Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. An impairment loss is recognized immediately in profit or loss. In connection with other assets, impairment losses recorded in prior periods are assessed at each reporting date to determine whether the loss has decreased and should be reversed. The increased carrying amount of an asset other than goodwill attributable to a reversal of an impairment loss shall not exceed the carrying amount that would have been determined (net of amortization or depreciation) had no impairment loss been recognized for the asset in prior years. Goodwill impairment is not reversed. |
Property, plant, and equipment | k) Property, plant, and equipment This category includes the amount of buildings, land, furniture, vehicles, computer hardware and other fixtures owned by the consolidated entities or acquired under finance leases. Assets are classified according to their use as follows: i. Property, plant and equipment for own use Property, plant and equipment for own use includes but is not limited to tangible assets received by the consolidated entities in full or partial satisfaction of financial assets representing accounts receivable from third parties which are intended to be held for continuing own use and tangible assets acquired under finance leases. These assets are presented at acquisition cost less the related accumulated depreciation and, if applicable, any impairment losses (when net carrying amount was higher than recoverable amount). Depreciation is calculated using the straight line method over the acquisition cost of assets less their residual value, assuming that the land on which buildings and other structures stand has an indefinite life and, therefore, is not subject to depreciation. The Bank applies the following useful lives for the tangible assets that comprise its assets: ITEM Useful life (Months) Land - Paintings and works of art - Carpets and curtains 36 Computers and hardware 36 Vehicles 36 IT systems and software 36 ATMs 60 Other machines and equipment 60 Office furniture 60 Telephone and communication systems 60 Security systems 60 Rights over telephone lines 60 Air conditioning systems 84 Other installations 120 Buildings 1,200 The consolidated entities assess at each reporting date whether there is any indication that the carrying amount of any tangible asset exceeds its recoverable amount. If this is the case, the carrying amount of the asset is reduced to its recoverable amount and future depreciation charges are adjusted in accordance with the revised carrying amount and to the new remaining useful life. The estimated useful lives of the items of property, plant and equipment held for own use are reviewed at the end of each reporting period to detect significant changes. If changes are detected, the useful lives of the assets are adjusted by correcting the depreciation charge to be recorded in the Consolidated Statement of Income in future years on the basis of the new useful lives. Maintenance expenses relating to tangible assets held for own use are recorded as an expense in the period in which they are incurred. ii. Assets leased out under operating leases The criteria used to record the acquisition cost of assets leased out under operating leases, to calculate their depreciation and their respective estimated useful lives, and to record the impairment losses thereof, are consistent with those described in relation to property, plant and equipment held for own use. |
Leasing | l) Leasing i. Finance leases Finance leases are leases that substantially transfer all the risks and rewards incidental to ownership of the leased asset to the lessee. The Bank recognized as lending to third parties under “Loans and accounts receivable from customers” in the Consolidated Statement of Financial Position, the sum of the present value of the lease payments receivable from the lessee, including the exercise price of the lessee’s purchase option at the end of the lease term, when at the inception of the lease it is reasonably certain that the lessee will exercise the option. When consolidated entities acts as lessees, the leased assets are classified based on their nature in the Consolidated Statement of Financial Position, and recognizing an asset and liability at the same amount (the lower between the fair value of the leased property and the present value of the minimum lease payments, plus purchase option). These assets are depreciated in accordance with property, plant and equipment for own use criterion. In both cases, the finance income and expenses arising from these contracts are recorded under “Interest income” and “Interest expense” respectively, in Consolidated Statement of Income to achieve constant return rate over the lease term. ii. Operating leases In operating leases, ownership of the leased asset and substantially all the risks and rewards incidental thereto remain with the lessor. When the consolidated entities act as lessor, the leased assets are classified at their acquisition cost under "Property, plant and equipment”. The depreciation criterion for these assets is consistent with that for similar items of property, plant and equipment held for own use and revenues from operating leases is recorded on a straight line basis under “Other operating income” in the Consolidated Statement of Income. When the consolidated entities act as the lessees, the lease expenses, including any incentives granted by the lessor, are charged on a straight line basis to “Administrative expenses” in the Consolidated Statement of Income. iii. Sale and leaseback transactions For sale at fair value and operating leasebacks, the profit or loss generated is recorded at the time of sale except in the case of excess of proceeds over fair value, which difference is amortized over the period of use of the asset. In the case of finance leasebacks, the profit or loss generated is amortized over the lease term. |
Intangible assets | m) Intangible assets Intangible assets are identified as non-monetary assets (separately identifiable from other assets) without physical substance which arise as a result of legal or contractual rights or it is separable. The Bank recognizes an intangible asset, whether purchased or self-created (at cost), when the cost of the asset can be measured reliably and it is probable that the future economic benefits that are attributable to the asset will flow to the Bank. Intangible assets are recorded initially at acquisition or production cost and are subsequently measured at cost less any accumulated amortization and any accumulated impairment losses. Internally developed computer software is recorded as an intangible asset if, among other requirements (basically the Bank’s ability to use or sell it), it can be identified and its ability to generate future economic benefits can be demonstrated. Intangible assets are amortized on a straight-line basis over their estimated useful life; which has been defined as 36 months. Expenditure on research activities is recorded as an expense in the year in which it is incurred and cannot be subsequently capitalized. |
Cash and cash equivalents | n) Cash and cash equivalents For the preparation of the cash flow statement, the indirect method was used, starting with the Bank’s consolidated pre-tax income and incorporating non-cash transactions, as well as income and expenses associated with cash flows, which are classified as operating, investment or financing activities. For the preparation of the cash flow statement, the following items are considered: i. Cash flows: Inflows and outflows of cash and cash equivalents, such as deposits with the Central Bank of Chile, deposits in domestic banks, and deposits in foreign banks. ii. Operating activities: Principal revenue-producing activities performed by banks and other activities that cannot be classified as investing or financing activities. The Bank's activity of granting loans encompasses not only the activities with its debtors but also the related activities that provide the funding to the loans granted. Since the funding for granting such loans is provided by, among other sources, senior bonds, mortgage bonds and subordinated bonds, the Bank presents the related cash flows as operating activities. iii. Investing activities: The acquisition and disposal of long-term assets and other investments not included in cash and cash equivalents. iv. Financing Activities: Activities that result in changes in the size and composition of the equity and liabilities that are not operating activities. |
Allowances for loan losses | o) Allowances for loan losses The Bank has established allowances to cover incurred losses on loans and account receivables from customers in accordance with its internal models and risk assessment as approved by the Board of Directors. The Bank performs an assessment of the risk associated with loans and accounts receivable from customers to determine their allowance for loan losses as described below: - Individual assessment – represents cases where the Bank assesses a debtor as individually significant, or when he/she cannot be classified within a group of financial assets with similar credit risk characteristics, due to their size, complexity or level of exposure. - Group assessment - a group assessment is relevant for analyzing a large number of operations with small individual balances from individuals or small companies. The Bank groups debtors with similar credit risk characteristics giving to each group a default probability and recovery rate based on a historical analysis. The Bank models determine allowances and provisions for loan losses according to the type of portfolio or operations. Loans and accounts receivables from customers are divided into three categories: i. Commercial loans, ii. Mortgage loans, and iii. Consumer loans. The models used to determine credit risk allowances are described as follows: I. Allowances for individual assessment An individual assessment of commercial debtors is necessary in the case of companies which, due to their size, complexity or level of exposure regarding the entity, must be known and analyzed in detail. For the purposes of establishing its provisions, the Bank assigns a risk category to each debtor, their loans and contingent loans. The risk factors considered are: industry or economic sector of the borrower, owners or managers of the borrower, their financial situation and payment capacity, and payment behavior. The Bank’s risk categories are as follows: 1. Debtors may be classified in risk categories A1, A2, A3 or B (if they are current on their payment obligations and show no sign of deterioration in their credit quality). B is different from the A categories by a certain history of late payments. The A and B categories are distinguished by different PNPs (as defined below). 2. Debtors classified as C1, C2, C3, C4, D1 or D2 include debtors whose loans with us have been charged off or administered by our Recovery Unit, or classified as Precontenciosos (PRECO or deteriorated). For loans classified as A1, A2, A3 and B, we assign a specific provision level on an individual basis to each borrower and, therefore, the amount of loan loss allowance is determined on a case by case basis. Estimated Incurred Loan Loss = Loan Loss Allowance. The estimated incurred loss is obtained by multiplying all risk factors defined in the following equation: EIL= EXP x PNP x SEV EIL = Estimated Incurred Loan Loss. The estimated incurred loan loss is how much could be lost in the event a debtor does not perform the obligations under the loan. EXP = Exposure. This corresponds to the value of commercial loans. PNP = Probability of Non-Performance. This variable, expressed as a percentage, indicates the probability that a debtor will default. This percentage is associated with the internal rating that we give to each debtor, which is determined by analyzing such parameters as debt servicing capacity (including, usually, projected cash flows), the company’s financial history, the solvency and capacity of shareholders and management, and projections for the economic sector in which it operates. SEV = Severity. This is the effective loss rate given default for debtors in the same segment, which is determined statistically based on the historical effective losses for each segment. Every year, models together with PNP and SEV assumptions, are tested by the Bank’s Credit Risk Department, to ensure that they are appropriate at each reporting date so as to make sure any difference between the estimated incurred losses and actual losses is reduced. These tests focus on the validation of the sufficiency of the Bank’s allowances, and consist of comparisons between actual write-offs to allowances established by the model, and the coverage of the total allowance to actual write-offs in the most current periods. Individual loan classification and improvements to any customer classification are also presented for approval to our Risk Committee. For loans classified in the C and D categories, loan loss allowances are based mainly on the fair value of the collateral, adjusted for an estimated cost to sell, that each of these loans have. Allowance percentage for each category is then based on the fair value of the collateral, or the expected future cash flow from the loan for each individually evaluated non-performing loans. II. Allowances for group assessments The Bank uses the concept of estimation of incurred loss to quantify the allowances levels over the group-evaluated portfolios, considering the risk and the guarantees associated with each transaction. Following the Bank’s definition, the Bank uses group evaluation to approach transactions that have similar credit risk features, which indicate the debtor’s payment capacity over the entire debt, principal and interests, pursuant to the contract’s terms. In addition, this allows us to assess a high number of transactions with low individual amounts, whether they belong to individuals or SMEs (small and medium sized companies). Therefore, debtors and loans with similar features are grouped together and each group has a risk level assigned to it. These models are meant to be used mainly to analyze loans granted to individuals (including consumer loans, credit lines, mortgage loans and commercial loans) and commercial loans to small to middle-sized entities (SMEs). Allowances are established using these models, taking into account the historical Impairment and other known circumstances at the time of evaluation. After this, a historical loss rate is assigned to each portfolio profile constituting each evaluated group. Allowances for group-evaluated loans are established based on the credit risk of the profile to which the loan belongs. The method for assigning a profile is established based on statistical building method, establishing a relation through logistic regression of various variables, such as payment behavior in the Bank, payment behavior outside the Bank, various sociodemographic data, among others, and a response variable that determines a client’s risk level, which in this case is 90 days of non-performance (the chosen features are relevant when calculating future cash flows per group of assets). Afterwards, common profiles are established and with differentiated default rates, applying the real historical loss the Bank has had with that portfolio. The different risk categories are constructed and updated periodically based on the payment behavior of the client’s profile to which they belong, as well as his or her sociodemographic characteristics. Therefore, when a customer has past due balance or has missed some payments, the outcome is that the customer will move to a different segment with a higher loss rate, therefore capturing current trends for each risk profile. Allowance quantification, once the customers have been classified, is the product of three factors: exposure (EXP), Probability of Non-Performance (PNP) and Severity (SEV), the same equation used for individual assessment mentioned above. The estimated incurred loss rates for group-evaluated loans correspond to charge-offs net of recoveries. The methodology establishes the period in which the estimated incurred loss for each risk profile emerges. Once the loss has been considered to have been incurred, the estimated incurred loss rates are applied to the corresponding risk profile to obtain the net charge-off level associated with this period. The loss rates applied to each risk profile are based only on the historical net charge-off data for that specific profile within one of the four groups of loans (consumer loans, credit lines, mortgage loans and commercial loans). No other statistical or other information other than net charge-offs is used to determine the loss rates. To determine the estimated incurred loss for commercial and mortgage loans collectively evaluated for impairment, we mainly analyze the payment behavior of clients, particularly the payment behavior of clients with payments that are more than 90 days overdue, clients with other weaknesses, such as early non performance (i.e., payments that are past-due, though by less than 90 days), clients with modified loans and clients with renegotiated loans, as well as success in recovery against these clients. We also take into account whether the loan is supported by collateral. In connection with mortgage loans, historical net charge-offs are considered in the model to calculate loss rates for loans collectively evaluated for impairment. The risk categories are such that when a customer has a past-due balance or has missed some payments, the outcome is that the customer will move to a different risk category with a higher loss rate, therefore capturing current trends of the customer and, when aggregate, current trends in the market. Our models for loans analyzed on a group basis (consumer loans, residential mortgage loans and small-and-mid- sized commercial loans) are monitored on a monthly basis with respect to predictability and stability, using indicators that seek to capture the underlying need to update the models for current loss trends. Therefore, the periods of historical net charge-offs used in the allowance model may be more than a year old as we only update the historical net charge-offs when our assessment of predictability and stability indicators determine it is necessary. III. Charge-offs As a general rule, charge-offs should be done when all collection efforts have been exhausted. These charge-offs consist of derecognition from the Consolidated Statement of Financial Position of the corresponding loans operations in its entirety, and, therefore, include portions not past-due of a loan in the case of installments loans or leasing operations (no partial charge-offs exist). Subsequent payments obtained from charged-off loans will be recognized in the Consolidated Statement of Income as a recovery of loans previously charged-off. Loan and accounts receivable charge-offs are recorded for overdue and current installments based on the time periods expired since reaching overdue status, as described below: Type of loan Term Consumer loans with or without collateral 6 months Other transactions without collateral 24 months Commercial loans with collateral 36 months Mortgage loans 48 months Consumer leasing 6 months Other non-mortgage leasing transactions 12 months Mortgage leasing (household and business) 36 months IV. Recovery of loans previously charged off and accounts receivable from customers Any payment agreement of an already charged-off loan will not give rise to income—as long as the operation is still in an impaired status—and the effective payments received are accounted for as a recovery from loans previously charged-off. Recovery of previously charged-off loans and accounts receivable from customers, are recorded in the Consolidated Statement of Income as a deduction from provisions for loan losses. In accordance with our charge-off policy described in iii) above, we may subsequently recover a portion of the amount charged-off (at 100%). The allowance for loan losses on our collectively evaluated loans incorporates an expected recovery rate based on historical information. At the time we charge-off the carrying amount of any loans which have been collectively evaluated for impairment, the allowance for loan losses on collectively evaluated loans is replenished to reflect incurred losses based on statistical models developed in compliance with IAS 39 on the remaining pool of loans. The amounts required for replenishment are recorded in the financial statements as provision established. |
Provisions, contingent assets, and contingent liabilities | p) Provisions, contingent assets, and contingent liabilities Provisions are liabilities of uncertain timing or amount. Provisions are recognized in the Consolidated Statements of Financial Position when the Bank: i. has a present obligation (legal or constructive) as a result of past events, and ii. it is probable that an outflow of resources will be required to settle these obligations and the amount of these resources can be reliably measured. Contingent assets or contingent liabilities are any potential rights or obligations arising from past events whose existence will be confirmed only by the occurrence or non-occurrence if one or more uncertain future events that are not wholly within control of the Bank. The Consolidated Statement of Financial Position and annual accounts reflect all significant provisions for which it is estimated that it is probable an outflow of resources will be required to meet the obligation where the probability of having to meet the obligation is more likely than not. Provisions are quantified using the best available information on the consequences of the event giving rise to them and are reviewed and adjusted at the end of each year. Provisions must specify the liabilities for which they were originally recognized. Partial or total reversals are recognized when such liabilities cease to exist or are reduced. Provisions are classified according to the obligation covered as follows: - Provision for employee salaries and expenses - Provision for mandatory dividends - Provision for contingent credit risks - Provisions for contingencies |
Deferred income taxes and other deferred taxes | q) Deferred income taxes and other deferred taxes The Bank records, when appropriate, deferred tax assets and liabilities for the estimated future tax effects attributable to differences between the carrying amount of assets and liabilities and their tax bases. The measurement of deferred tax assets and liabilities is based on the tax rate, in accordance with the applicable tax laws, using the tax rate that applies to the period when the deferred asset and liability will be settled. The future effects of changes in tax legislation or tax rates are recorded in deferred taxes beginning on the date on which the law is enacted or substantially enacted. |
Use of estimates | r) Use of estimates The preparation of the financial statements requires the Bank’s management to make estimates and assumptions that affect the application of the accounting policies and the reported balances of assets, liabilities, revenues and expenses. Actual results may differ from these estimates. In certain cases, International Financial Reporting Standards (IFRS) require that assets or liabilities be recorded or disclosed at their fair values. The fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When available, quoted market prices in active markets have been used as the basis for measurement. When quoted market prices in active markets are not available, the Bank has estimated such values based on the best information available, including the use of modeling and other valuation techniques. The Bank has established allowances to cover incurred losses to estimate allowances. These allowances must be regularly reviewed taking into consideration factors such as changes in the nature and volume of the loan portfolio, trends in forecasted portfolio quality, credit quality and economic conditions that may adversely affect the borrowers’ ability to pay. Increases in the allowances for loan losses are reflected as “Provision for loan losses” in the Consolidated Statement of Income. Loans are charged-off when the Bank’s management determines that a loan or a portion thereof is impaired. Charge-offs are recorded as a reduction of the allowance for loan losses. The relevant estimates and assumptions made to calculate provisions are regularly reviewed by the Bank’s Management to quantify certain assets, liabilities, revenues, expenses, and commitments. These estimates, made on the basis of the best available information, mainly refer to: - Impairment losses of certain assets (Notes 7, 8, 9, 10, and 32) - The useful lives of tangible and intangible assets (Notes 12, 13 and 32) - The fair value of assets and liabilities (Notes 5, 6, 7, 10 and 36) - Commitments and contingencies (Note 22) - Current and deferred taxes (Note 14) |
Non-current assets held for sale (in "Other Assets") | s) Non-current assets held for sale (in “Other Assets”) Non-current assets (or a group holding assets and liabilities for disposal) expected to be recovered mainly through the sale of these items rather than through the continued use, are classified as held for sale. Immediately prior to this classification, assets (or elements of a disposable group) are re-measured in accordance with the Bank’s policies. The assets (or disposal group) are measured at the lower of carrying amount and fair value less cost to sell. Assets received or awarded in lieu of payment Assets received or awarded in lieu of payment of loans and accounts receivable from clients are recognized at their fair value (as determined by an independent appraisal). A price is agreed upon by the parties through negotiation or, when the parties do not reach an agreement, at the amount at which the Bank is awarded those assets at a judicial auction. In the both cases, an independent appraisal is performed. The excess of the outstanding loan balance over the fair value is charged to net income for the period, under “Provision for loan losses”. Any excess of the fair value over the outstanding loan balance, less costs to sell of the collateral, is returned to the client. These assets are subsequently adjusted to their net realizable value less cost to sale (assuming a forced sale). The difference between the carrying value of the asset and the estimated fair value less costs to sell is charged to net income for the period, under “Other operating expenses”. The result obtained in the sale of the asset is subsequently recorded under “Other operating income”. Independent appraisals are obtained at least every 18 months and fair values are adjusted accordingly. No adjustments have been made between appraisals with respect to the period covered by these financial statements considering the stability of the real estate market in Chile during past years and expected stability of the real estate market in the coming years. At least once a year, the Bank performs the necessary analysis to update the “cost to sale” of assets received or awarded in lieu of payments. According to the Bank’s survey, as of December 31, 2017 the average cost to sale was estimated at 3.4% of the appraisal value (5.1% as of December 31, 2016). |
Earnings per share | t) Earnings per share Basic earnings per share are determined by dividing the net income attributable to the equity holders of the Bank for the reported period by the weighted average number of shares outstanding during the reported period. Diluted earnings per share are determined in the same way as basic earnings, but the weighted average number of outstanding shares is adjusted to take into consideration the potential diluting effect of stock options, warrants, and convertible debt. As of December 31, 2017 and 2016 the Bank did not have any instruments that generated dilution. |
Temporary acquisition (assignment) of assets and liabilities | u) Temporary acquisition (assignment) of assets and liabilities Purchases or sales of financial assets under non-optional repurchase agreements at a fixed price are recorded in the Consolidated Statements of Financial Position based on the nature of the debtor (creditor) under “Deposits in the Central Bank of Chile,” “Deposits in financial institutions” or “Loans and accounts receivable from customers” (“Central Bank of Chile deposits,” “Deposits from financial institutions” or “Customer deposits”), in Note 6. Differences between the purchase and sale prices are recorded as financial interest over the term of the contract. |
Provision for mandatory dividends | v) Provision for mandatory dividends As of December 31, 2017 and 2016 the Bank recorded a provision for mandatory dividends. This provision is made pursuant to Article 79 of the Corporations Act, which is in accordance with the Bank’s internal policy, pursuant to which at least 30% of net income for the period is distributed, except in the case of a contrary resolution adopted at the respective shareholders’ meeting by unanimous vote of the outstanding shares. This provision is recorded, as a deducting item, under the “Retained earnings – provision for mandatory dividends” line of the Consolidated Statement of Changes in Equity with offset to Provisions. |
Employee benefits | w) Employee benefits i. Post-employment benefits – Defined Benefit Plan: According to current collective labor agreements and other agreements, the Bank has an additional benefit available to its principal executives, consisting of a pension plan whose purpose is to endow them with funds for a better supplementary pension upon their retirement. Features of the Plan: The main features of the Post-Employment Benefits Plan promoted by the Banco Santander Chile are: a. Aimed at the Bank’s management. b. The general requirement to apply for this benefit is that the employee must be carrying out his/her duties when turning 60 years old. c. The Bank will create a pension fund, with life insurance, for each beneficiary in the plan. Periodic contributions into this fund are made by the manager and matched by the Bank. d. The Bank will be responsible for granting the benefits directly. The Bank uses the method of projected unit credit, to determine the present value of the defined benefit obligation and the current service cost. Components of defined benefit cost include: - current service cost and any past service cost, which are recognized in profit or loss for the period; - net interest on the liability (asset) for net defined benefit, which is recognized in profit or loss for the period; - new liability (asset) remeasurements for net defined benefit include: (a) actuarial gains and losses; (b) the difference between the actual return on plan assets and the interest on plan assets included in the net interest component and; (c) changes in the effect of the asset ceiling. The liability (asset) for net defined benefit is the deficit or surplus, determined as the difference between the present value of the defined benefit obligation less the fair value of plan assets. Plan assets comprise the pension fund taken out by the Group with a third party that is not a related party. These assets are held by an entity legally separated from the Bank and exist solely to pay benefits to employees. The Bank recognizes the present service cost and the net interest of the Personnel salaries and expenses on the Consolidated Statement of Income. The post-employment benefits liability, recognized in the Consolidated Statement of Financial Position represents the deficit or surplus in the defined benefit plans of the Bank. Any surplus resulting from the calculation is limited to the present value of any economic benefits available in the form of refunds from the plan or reductions in future contributions. When employees leave the plan before meeting the requirements to be eligible for the benefit, contributions made by the Bank are reduced. ii. Cash-settled share based compensation The Bank allocates cash-settled share based compensation to executives of the Bank and its Subsidiaries in accordance with IFRS 2. The Bank measures the services received and the obligation incurred at fair value. Until the obligation is settled, the Bank determines the fair value at the end of each reporting period, as well as at the date of settlement, recognizing any change in fair value in the income statement of the period. |
Application of new and revised International Financial Reporting Standards | x) Application of new and revised International Financial Reporting Standards i. New and revised standards effective in current year The following new and revised IFRS have been adopted in these financial statements: Recognition of Deferred Tax Assets for Unrealized Losses (Amendments to IAS 12) · Unrealized losses on debt instruments measured at fair value and measured at cost for tax purposes give rise to a deductible temporary difference regardless of whether the debt instrument’s holder expects to recover the carrying amount of the debt instrument by sale or by use. · The carrying amount of an asset does not limit the estimation of probable future taxable profits. · Estimated for future taxable profits exclude tax deductions resulting from the reversal of deductible temporary differences. · An entity assesses a deferred tax asset in combination with other deferred tax assets. Where tax law restricts the utilization of tax losses, an entity would assess a deferred tax asset in combination with other deferred tax assets of the same type. The amendments are effective for annual periods beginning on or after January 1, 2017. The implementation of this amendments did not have material impact on the consolidated financial statement of the Bank. Disclosure Initiative (Amendments to IAS 7)- The amendments are effective for annual periods beginning on or after January 1, 2017. Earlier application is permitted. The implementation of this amendments did not have material impact on the consolidated financial statement of the Bank. Annual Improvement 2014-2016 This annual improvements issued in December 8, 2016, containing the following amendments: IFRS 12 Disclosure of Interests in Other Entities The amendments to IFRS 12 for annual periods beginning on or after 1 January 2017. The implementation of IFRS 12 amendments did not have material impact on the consolidated financial statement of the Bank. IFRS Practice statement 2 Making Materiality Judgement – The Bank’s management has considered this practice statement in preparing current financial statements. ii. New and revised IFRS issued but not effective IFRS 9 Financial instruments (2014) Classification &measurement: IFRS 9 defined the financial asset and certain non-financial assets purchases agreements classification and measurement model changes requirements. The main aspects included in the new standard are: a) Classification of financial instruments: The criterion for classifying financial assets will depend both on their business management model and the features of the contractual flows. Consequently, the asset will be measured at amortized cost, at fair value with changes in other comprehensive income (equity), or at fair value with changes in profit and loss for the period. IFRS 9 also establishes the option of designating an instrument at fair value with changes in Profit and loss under certain conditions. The main activity of the Bank is the concession of retail banking operations and does not concentrate its exposure on complex financial products. The main objective of the Bank is to achieve a homogeneous implementation of the classification of financial instruments of the portfolios established under IFRS 9 and, for this purpose, it has developed standardized guidelines to enable a homogeneous analysis in all of its units. The Bank prepared an analysis of its portfolios under the mentioned guidelines in order to identify and classify the financial instruments into their corresponding portfolio under IFRS 9. Based on the analysis currently being carried out, the Group considers that: · · · · In October 12, 2017, the IASB issued “Prepayment features with negative compensation” to address particular prepaid options under assessment whether contractual clash flows are solely payments of principal and interest. The Bank concluded that this amendment does not have significant impact over its financial statements. b) Credit risk Impairment model: The most important new development compared with the current model is that the new accounting standard introduces the concept of expected loss, whereas the current model (IAS 39) is based on incurred loss. · · · · · - Phase 1: a financial instrument will be considered to be in this phase when there has been no significant increase in risk since its initial recognition. In this case, the value correction will reflect expected credit losses arising from defaults over the 12 months from the reporting date. - Phase 2: financial instruments are included in this phase when there has been a significant increase in risk since the date of initial recognition, but the impairment has not materialized. In this case, the value correction for losses will reflect the expected losses from defaults over the residual life of the financial instrument. The existence of a significant increase in credit risk will be determined by considering the quantitative indicators used in the ordinary management of credit risk, together with other qualitative variables, such as the indication of whether refinanced transactions are considered non-impaired and transactions included in special debt sustainability agreements. - Phase 3: financial instruments are catalogued in this phase when they show effective signs of impairment as a result of one or more events that have already occurred that will result in a loss. In this case, the amount of the value correction will reflect the expected losses for credit risk over the expected residual life of the financial instrument. The methodology required for quantification of expected loss for credit events will be based on an unbiased and weighted consideration of the occurrence of a range of possible future scenarios that could impact the collection of contractual cash flows, taking into account the time-value of money, all available information relevant to past events, and current conditions and projections of macroeconomic factors deemed relevant to the estimation of this amount. The assessment of whether a significant increase in credit risk has occurred since initial recognition involves the application of both quantitative measures and qualitative factors, requires management judgement and is a key aspect of the IFRS 9 methodology. The key inputs into the measurement of the ECL (expected credit loss) are EAD (exposure at default), PD (probability of default) and LGD (loss given default). These parameters will be derived from internally developed statistical models and other historical data that leverage regulatory models. They will be adjusted to reflect forward-looking information. The Bank has focused in developing an “expected credit loss” model in accordance with all IFRS 9 requirements, including all essential definitions: · Significant increase in credit risk · Default · Forward-looking information: the Bank has incorporated forward-looking information into both its assessment of whether the credit risk of an instrument has increased significantly since initial recognition and its measurement of ECLs. Following this, the Bank has developed macroeconomic scenarios and considers the relative probability of each outcome. External information include macroeconomic factor as PIB , among others. · Financial assets expected lives: the Bank considers contractual terms of the instruments (amortization, prepayments features, extension terms, etc.). The bank will measure ECLs considering the risk of default over the maximum contractual period. For certain revolving facilities (e.g. credit card and overdraft), the expected lives is the credit risk exposure period and credit risk management actions that the Bank expects to take and that serve to mitigate ECLs. · Impairment records: IFRS 9 bring a changes related to the FVOCI financial assets, where the amount of the change in the fair value that is attributable to changes in the credit risk of the financial asset will be presented in other comprehensive income, and the remaining amount of the change in the fair value will be presented in profit or loss. c) Hedge accounting: The general hedge accounting requirements align more closely with risk management practices and establish a more principle-based approach thereby allowing hedge accounting to be applied to a wider variety of hedging instruments and risks. Macro hedge accounting is being dealt with as a separate project. Until such time as that project is complete, and to remove any potential conflict between any existing macro hedge accounting undertaken under IAS 39 and the new general hedge accounting requirements of IFRS 9, entities can choose to continue to apply the existing hedge accounting requirements in IAS 39. After concluding the IFRS 9 implementation process, the most significant impact on the Bank´s financial statements arise from the new impairment requirements. Impairment losses for financial instruments will be increased under the scope of the IFRS 9 impairment model. At January 1, 2018, based on the assessment made, the total impact in equity (net of tax) derived from the adoption of IFRS 9 is Ch$82,454 million(net of tax). IFRS 15, Revenue from Contracts with Customers - IFRS 15 must be applied in an entity’s first annual IFRS financial statements for periods beginning on or after 1 January 2017. Application of the Standard is mandatory and early adoption is permitted. An entity that chooses to apply IFRS 15 earlier than 1 January 2018 must disclose this fact. In April 12, 2016, the IASB published an amendments to clarify and provide alternatives for the transition. The amendment are applicable from January 1, 2018, with early application permitted. The Bank completed its assessment regarding the application of this standard and concluded that it does not have a significant impact over its consolidated financial statements. Sale or Contributions of Assets between an Investor and its Associate or Joint Venture (Amendments to IFRS 10 and IAS 28) - · requires full recognition in the investor's financial statements of gains and losses arising on the sale or contribution of assets that constitute a business (as defined in IFRS 3 Business Combinations); · requires the partial recognition of gains and losses where the assets do not constitute a business, i.e. a gain or loss is recognized only to the extent of the unrelated investors’ interests in that associate or joint venture. On December 17, 2015 the IASB has published final amendments to “Sale or Contribution of Assets between an Investor and its Associate or Joint Venture”. The amendments defer the effective date of the September 2014 amendments to these standards indefinitely until the research project on the equity method has been concluded. The Bank’s management has considered that these amendments will not have material impact on the consolidated financial statements of the Bank. IFRS 16 Leases IFRS 16 is effective for periods beginning on or after January 1, 2019, with earlier adoption permitted if IFRS 15 “Revenue from Contracts with Customer” has also been applied. The Bank has completed its operating lease contract inventory (as lessee) and it is currently determining the potential impact that the standard will have on the consolidated financial statements of the Bank. Amendments to IFRS 2 Classification and measurement of share-based payment transactions · · · This standard is applicable from January 1, 2018, with early application permitted. Management is assessing the potential impact of applying this standard. Amendments to IFRS 4: Applying IFRS 9 Financial Instruments with IFRS 4 Insurance Contracts - -an option that permits entities to reclassify, from profit or loss to other comprehensive income, some of the income or expenses arising from designated financial assets (the "overlay approach"); -an optional temporary exemption from applying IFRS 9 for entities whose predominant activity is issuing contracts within the scope of IFRS 4 (the "deferral approach"). An entity would apply the overlay approach retrospectively to qualifying financial assets when it first applies IFRS 9 while an entity would apply the deferral approach for annual periods beginning on or after January 1, 2018. Management has assessed that the implementation of these modifications will not have a material impact on the Unaudited Consolidated Interim Financial Statements of the Bank. IFRIC 22 Foreign Currency Transactions and Advance Consideration – The Interpretation covers foreign currency transactions when an entity recognises a non-monetary asset or non-monetary liability arising from the payment or receipt of advance consideration before the entity recognises the related asset, expense or income. It does not apply when an entity measures the related asset, expense or income on initial recognition at fair value or at the fair value of the consideration received or payed at a date other than the date of initial recognition of the non-monetary asset or non-monetary liability. Also, the Interpretation need not be applied to income taxes, insurance contracts or reinsurance contracts. Consensus The date of the transaction, for the purpose of determining the exchange rate, is the date of initial recognition of the non-monetary prepayment asset or deferred income liability. If there are multiple payments or receipts in advance, a date of transaction is established for each payment or receipt. IFRIC 22 is effective for annual reporting periods beginning on or after 1 January 2018. Earlier application is permitted. The Bank’s management has considered that these amendments will not have material impact on the consolidated financial statements of the Bank. Annual Improvement 2014-2016 This annual improvements issued in December 8, 2016, containing the following amendments: IFRS 1 First time adoption of IFRS IAS 28 Investments in Associates and Joint Ventures The amendments to IFRS 1 and IAS 28 are effective for annual periods beginning on or after 1 January 2018. The Bank’s management has considered that these amendments will not have material impact on the consolidated financial statements of the Bank. IFRS 17 Insurance contracts – The Bank’s management has considered that these amendments will not have material impact on the consolidated financial statements of the Bank. IFRIC 23 Uncertainty over Income Tax Treatments – The Bank’s management has considered that these amendments will not have material impact on the consolidated financial statements of the Bank. Amendments to IAS 28 long-term interest in Associates and Joint Ventures - The Bank’s management has considered that these amendments will not have material impact on the consolidated financial statements of the Bank. Annual Improvements to IFRS Standards 2015–2017 Cycle This annual improvements issued in December 12, 2017, containing the following amendments: IFRS 3 Business Combination and IFRS 11 Joint Arrangements – The amendments to IFRS 3 clarify that when an entity obtains control of a business that is a joint operation, it remeasures previously held interests in that business. The amendments to IFRS 11 clarify an entity obtains joint control of a business that is a joint operation, the entity does not remeasure previously held interest in that business. IAS 12 Income taxes – The amendments clarify that all income tax consequences of dividends should be recognized in profit or loss, regardless of how the tax arises. IAS 23 Borrowing cost – The amendments clarify that if any specific borrowing remain outstanding after the related asset is ready for its intended use or sale, that borrowing becomes part of the funds that an entity borrows generally when calculating the capitalization rate on general borrowings. The amendments are effective for periods beginning on or after January 1, 2019, early application is permitted. The Bank’s management has considered that these amendments will not have material impact on the consolidated financial statements of the Bank. |
SUMMARY OF SIGNIFICANT ACCOUN48
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Summary Of Significant Accounting Policies | |
Schedule of subsidiaries | The following companies are considered entities controlled by the Bank and are therefore within the scope of consolidation: i. Entities controlled by the Bank through participation in equity Name of the Subsidiary Percent ownership share As of December 31, Place of Incorporation and operation 2017 2016 2015 Direct Indirect Total Direct Indirect Total Direct Indirect Total Main Activity % % % % % % % % % Santander Corredora de Seguros Limitada Insurance brokerage Santiago, Chile 99.75 0.01 99.76 99.75 0.01 99.76 99.75 0.01 99.76 Santander Corredores de Bolsa Limitada(*) Financial instruments brokerage Santiago, Chile 50.59 0.41 51.00 50.59 0.41 51.00 50.59 0.41 51.00 Santander Agente de Valores Limitada Securities brokerage Santiago, Chile 99.03 - 99.03 99.03 - 99.03 99.03 - 99.03 Santander S.A. Sociedad Securitizadora Purchase of credits and issuance of debt instruments Santiago, Chile 99.64 - 99.64 99.64 - 99.64 99.64 - 99.64 |
Schedule of associates | The following companies are considered “Associates” in which the Bank accounts for its participation using the equity method: Percentage of ownership share As of December 31, Place of Incorporation and operation 2017 2016 2015 Associates Main activity % % % Redbanc S.A. ATM services Santiago, Chile 33.43 33.43 33.43 Transbank S.A. Debit and credit card services Santiago, Chile 25.00 25.00 25.00 Centro de Compensación Automatizado Electronic fund transfer and compensation services Santiago, Chile 33.33 33.33 33.33 Sociedad Interbancaria de Depósito de Valores S.A. Delivery of securities on public offer Santiago, Chile 29.29 29.29 29.29 Cámara Compensación de Alto Valor S.A. Payments clearing Santiago, Chile 15.00 14.93 14.23 Administrador Financiero del Transantiago S.A. Administration of boarding passes to public transportation Santiago, Chile 20.00 20.00 20.00 Sociedad Nexus S.A. Credit card processor Santiago, Chile 12.90 12.90 12.90 Servicios de Infraestructura de Mercado OTC S.A. Administration of the infrastructure for the financial market of derivative instruments Santiago, Chile 12.07 12.07 11.11 |
Schedule of useful lives for the tangible assets | The Bank applies the following useful lives for the tangible assets that comprise its assets: ITEM Useful life (Months) Land - Paintings and works of art - Carpets and curtains 36 Computers and hardware 36 Vehicles 36 IT systems and software 36 ATMs 60 Other machines and equipment 60 Office furniture 60 Telephone and communication systems 60 Security systems 60 Rights over telephone lines 60 Air conditioning systems 84 Other installations 120 Buildings 1,200 |
Schedule of type of loan | Loan and accounts receivable charge-offs are recorded for overdue and current installments based on the time periods expired since reaching overdue status, as described below: Type of loan Term Consumer loans with or without collateral 6 months Other transactions without collateral 24 months Commercial loans with collateral 36 months Mortgage loans 48 months Consumer leasing 6 months Other non-mortgage leasing transactions 12 months Mortgage leasing (household and business) 36 months |
SIGNIFICANT EVENTS (Tables)
SIGNIFICANT EVENTS (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Significant Events | |
Schedule of senior bonds | During the year ended December 31, 2017 the Bank has issued senior bonds in the amount of USD 770.000.000 and AUS 30.000.000. Debt issuance information are included in Note 18. Series Currency Amount Term (annual) Issuance rate (annual) Issuance date Maturity date DN USD 100,000,000 3.0 Libor-USD 3M+0.80% 20-07-2017 27-07-2020 DN USD 50,000,000 3.0 Libor-USD 3M+0.80% 21-07-2017 27-07-2020 DN USD 50,000,000 3.0 Libor-USD 3M+0.80% 24-07-2017 27-07-2020 DN USD 10,000,000 4.0 Libor-USD 3M+0.83% 23-08-2017 23-11-2021 DN USD 10,000,000 4.0 Libor-USD 3M+0.83% 23-08-2017 23-11-2021 DN USD 50,000,000 3.0 Libor-USD 3M+0.75% 14-09-2017 15-09-2020 DN USD 500,000,000 3.0 2.50% 12-12-2017 15-12-2020 Total USD 770,000,000 AUD AUD 30,000,000 10.0 3.96% 05-12-2017 12-12-2027 Total AUD 30,000,000 |
Schedule of repurchase of bonds | The Bank has conducted the following repurchase of bonds as of December 31, 2017: Date Series Amount 06-03-2017 Senior bond USD 6,900,000 12-05-2017 Senior bond UF 1,000,000 16-05-2017 Senior bond UF 690,000 17-05-2017 Senior bond UF 15,000 26-05-2017 Senior bond UF 340,000 01-06-2017 Senior bond UF 590,000 02-06-2017 Senior bond UF 300,000 05-06-2017 Senior bond UF 130,000 19-06-2017 Senior bond UF 265,000 10-07-2017 Senior bond UF 770,000 21-07-2017 Senior bond UF 10,000 28-08-2017 Senior bond UF 400,000 29-08-2017 Senior bond UF 272,000 03-11-2017 Senior bond UF 14,000 29-11-2017 Senior bond UF 400,000 06-12-2017 Senior bond UF 20,000 12-12-2017 Senior bond CLP 10,990,000,000 |
REPORTING SEGMENTS (Tables)
REPORTING SEGMENTS (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Reporting Segments | |
Schedule of reporting segment | Below are the tables showing the Bank’s results by reporting segment for the years ended December 31, 2017, 2016 and 2015 in addition to the corresponding balances of loans and accounts receivable from customers: For the year ended December 31, 2017 Loans and accounts receivable from customers (1) Net interest income Net fee and commission income Financial transactions, net (2) Provision for loan losses Support expenses (3) Segment`s net contribution MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Retail Banking 19,233,169 970,332 206,449 20,595 (293,956) (534,970) 368,450 Middle-market 6,775,734 264,663 36,280 13,751 (19,235) (91,882) 203,577 Commercial Banking 26,008,903 1,234,995 242,729 34,346 (313,191) (626,852) 572,027 Global Corporate Banking 1,633,796 100,808 27,626 50,714 6,440 (62,685) 122,903 Other 83,215 (9,112) 8,708 44,692 4,496 (15,356) 33,428 Total 27,725,914 1,326,691 279,063 129,752 (302,255) (704,893) 728,358 Other operating income 62,016 Other operating expenses and impairment (74,057) Income from investments in associates and other companies 3,963 Income tax expense (145,031) Net income for the year 575,249 (1) Corresponds to loans and accounts receivable from customers, without deducting their allowances for loan losses. (2) Corresponds to the sum of the net income from financial operations and the foreign exchange profit or loss. (3) Corresponds to the sum of personnel salaries and expenses, administrative expenses, depreciation and amortization. Fort he year ended December 31, 2016 Loans and accounts receivable from customers (1) Net interest income Net fee and commission income Financial transactions, net (2) Provision for loan losses Support expenses (3) Segment`s net contribution MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Retail Banking 18,604,936 931,105 196,845 21,141 (323,888) (529,909) 295,294 Middle-market 6,396,376 244,960 30,851 19,577 (26,748) (83,412) 185,228 Commercial Banking 25,001,312 1,176,065 227,696 40,718 (350,636) (613,321) 480,522 Global Corporate Banking 2,121,513 95,105 25,077 55,927 7,579 (53,935) 129,753 Other 83,606 10,196 1,651 43,713 974 (19,649) 36,885 Total 27,206,431 1,281,366 254,424 140,358 (342,083) (686,905) 647,160 Other operating income 6,427 Other operating expenses and impairment (69,136) Income from investments in associates and other companies 3,012 Income tax expense (109,031) Net income for the year 478,432 (1) Corresponds to loans and accounts receivable from customers, without deducting their allowances for loan losses. (2) Corresponds to the sum of the net income from financial operations and the foreign exchange profit or loss. (3) Corresponds to the sum of personnel salaries and expenses, administrative expenses, depreciation and amortization. For the year ended December 31, 2015 Loans and accounts receivable from customers (1) Net interest income Net fee and commission income Financial transactions, net (2) Provision for loan losses Support expenses (3) Segment`s net contribution MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Retail Banking 17,034,707 873,026 190,380 16,245 (332,657) (533,086) 213,908 Middle-market 6,006,282 229,812 28,537 17,897 (26,147) (77,261) 172,838 Commercial Banking 23,040,989 1,102,838 218,917 34,142 (358,804) (610,347) 386,746 Global Corporate Banking 2,178,643 85,553 15,231 50,327 (28,426) (49,533) 73,152 Other 81,125 66,815 3,479 61,030 (12,047) (1,328) 117,949 Total 25,300,757 1,255,206 237,627 145,499 (399,277) (661,208) 577,847 Other operating income 6,439 Other operating expenses and impairment (58,750) Income from investments in associates and other companies 2,588 Income tax expense (76,395) Net income for the year 451,729 (1) Corresponds to loans and accounts receivable from customers, without deducting their allowances for loan losses. (2) Corresponds to the sum of the net income from financial operations and the foreign exchange profit or loss. (3) Corresponds to the sum of personnel salaries and expenses, administrative expenses, depreciation and amortization. |
CASH AND CASH EQUIVALENTS (Tabl
CASH AND CASH EQUIVALENTS (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Cash and cash equivalents [abstract] | |
Schedule of cash and cash equivalents | a) The detail of the balances included under cash and cash equivalents is as follows: As of December 31, 2017 2016 MCh$ MCh$ Cash and deposits in banks Cash 613,361 570,317 Deposits at the Central Bank of Chile 441,683 507,275 Deposits in local banks 393 1,440 Deposits in banks abroad 397,485 1,200,357 Subtotals – Cash and deposits in banks 1,452,922 2,279,389 Net cash items in process of collection 181,419 206,810 Cash and cash equivalents 1,634,341 2,486,199 |
Schedule of cash in process of collection and in process | These transactions were as follows: As of December 31, 2017 2016 MCh$ MCh$ Assets Documents held by other banks (documents to be cleared) 199,619 200,109 Funds receivable 468,526 295,174 Subtotal 668,145 495,283 Liabilities Funds payable 486,726 288,473 Subtotal 486,726 288,473 Cash in process of collection, net 181,419 206,810 |
TRADING INVESTMENTS (Tables)
TRADING INVESTMENTS (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Trading Investments | |
Schedule of instruments deemed as financial trading investments | The detail of instruments deemed as financial trading investments is as follows: As of December 31, 2017 2016 MCh$ MCh$ Chilean Central Bank and Government securities Chilean Central Bank Bonds 272,272 158,686 Chilean Central Bank Notes - - Other Chilean Central Bank and Government securities 209,370 237,325 Subtotal 481,642 396,011 Other Chilean securities Time deposits in Chilean financial institutions - - Mortgage finance bonds of Chilean financial institutions - - Chilean financial institution bonds - - Chilean corporate bonds - 976 Other Chilean securities - - Subtotal - 976 Foreign financial securities Foreign Central Banks and Government securities - - Other foreign financial instruments - - Subtotal - - Investments in mutual funds Funds managed by related entities 4,094 - Funds managed by others - - Subtotal 4,094 - Total 485,736 396,987 |
INVESTMENTS UNDER RESALE AGRE53
INVESTMENTS UNDER RESALE AGREEMENTS AND OBLIGATIONS UNDER REPURCHASE AGREEMENTS (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Investments Under Resale Agreements And Obligations Under Repurchase Agreements | |
Schedule of receivables from repurchase agreements and security borrowing | As of December 31, 2017 and 2016, rights associated with instruments acquired under contracts to resell are as follows: As of December 31, 2017 2016 From 1 day and less than 3 months More than 3 months and less than 1 year More than 1 year Total From 1 day and less than 3 months More than 3 months and less than 1 year More than 1 year Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Securities from the Chilean Government and the Chilean Central Bank Chilean Central Bank Bonds - - - - 3,260 - - 3,260 Chilean Central Bank Notes - - - - - - - - Other securities from the Government and the Chilean Central Bank - - - - 3,476 - - 3,476 Subtotal - - - - 6,736 - - 6,736 Total - - - - 6,736 - - 6,736 |
Schedule of selling financial instruments | As of December 31, 2017 and 2016, obligations related to instruments sold under repurchase agreements are as follows: As of December 31, 2017 2016 From 1 day to less than 3 months More than 3 months and less than 1 year More than 1 year Total From 1 day to less than 3 months More than 3 months and less than 1 year More than 1 year Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Securities from Chilean Government and the Chilean Central Bank: Chilean Central Bank Bonds - - - - - - - - Chilean Central Bank Notes - - - - 155,044 - - 155,044 Other securities from the Government and the Chilean Central Bank 241,995 - - 241,995 - - - - Subtotal 241,995 - - 241,995 155,044 - - 155,044 Instruments from other domestic institutions: Time deposits in Chilean financial institutions 1,118 38 - 1,156 56,898 495 - 57,393 Subtotal 1,118 38 - 1,156 56,898 495 - 57,393 Instruments from other foreign institutions: Securities from Government or foreign Central Banks 24,910 - - 24,910 - - - - Subtotal 24,910 - - 24,910 - - - - Total 268,023 38 - 268,061 211,942 495 - 212,437 |
Schedule of portfolio of collateral associated with repurchase agreements at fair value | Below is the detail by portfolio of collateral associated with repurchase agreements as of December 31, 2017 and 2016, valued at fair value: As of December 31, 2017 2016 Available for sale portfolio Trading portfolio Total Available for sale portfolio Trading portfolio Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Chilean Central Bank and Government securities: Chilean Central Bank Bonds - - - - - - Chilean Central Bank Notes - - - 155,044 - 155,044 Other securities from the Government and the Chilean Central Bank 241,995 - 241,995 - - - Subtotal 241,995 - 241,995 155,044 - 155,044 Other Chilean securities: Time deposits in Chilean financial institutions 1,156 - 1,156 57,393 - 57,393 Subtotal 1,156 - 1,156 57,393 - 57,393 Instruments from other foreign institutions: Securities from Government or foreign Central Banks 24,910 - 24,910 - - - Subtotal 24,910 - 24,910 - - - Total 268,061 - 268,061 212,437 - 212,437 |
DERIVATIVE FINANCIAL INSTRUME54
DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGE ACCOUNTING (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Derivative Financial Instruments And Hedge Accounting | |
Schedule of derivative instruments portfolio | a) As of December 31, 2017 and 2016 the Bank holds the following portfolio of derivative instruments: As of December 31, 2017 Notional amount Fair value Up to 3 Months More than 3 months to 1 year More than 1 year Total Assets Liabilities MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Fair value hedge derivatives Interest rate swaps - 162,985 1,554,171 1,717,156 23,003 1,424 Cross currency swaps - 715,701 5,362,772 6,078,473 15,085 65,724 Subtotal - 878,686 6,916,943 7,795,629 38,088 67,148 Cash flow hedge derivatives Currency forwards 801,093 218,982 - 1,020,075 39,233 59 Cross currency swaps 421,428 1,637,604 6,672,566 8,731,598 36,403 128,355 Subtotal 1,222,521 1,856,586 6,672,566 9,751,673 75,636 128,414 Trading derivatives Currency forwards 17,976,683 10,679,327 3,091,393 31,747,403 412,994 502,555 Interest rate swaps 9,069,964 14,389,389 46,342,779 69,802,132 467,188 392,366 Cross currency swaps 2,963,641 7,503,144 47,111,371 57,578,156 1,241,632 1,042,120 Call currency options 190,386 37,099 49,853 277,338 1,322 1,950 Call interest rate options - - - - - - Put currency options 192,722 28,616 50,470 271,808 1,787 4,935 Other derivatives - - - - - - Subtotal 30,393,396 32,637,575 96,645,866 159,676,837 2,124,923 1,943,926 Total 31,615,917 35,372,847 110,235,375 177,224,139 2,238,647 2,139,488 As of December 31, 2016 Notional amount Fair value Up to 3 months More than 3 months to 1 year More than 1 year Total Assets Liabilities MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Fair value hedge derivatives Interest rate swaps 74,086 514,454 1,402,870 1,991,410 38,977 211 Cross currency swaps 424,086 505,902 1,239,490 2,169,478 32,640 32,868 Subtotal 498,172 1,020,356 2,642,360 4,160,888 71,617 33,079 Cash flow hedge derivatives Currency forwards 915,879 639,939 - 1,555,818 10,216 3,441 Cross currency swaps 897,480 2,613,706 4,260,194 7,771,380 43,591 68,894 Subtotal 1,813,359 3,253,645 4,260,194 9,327,198 53,807 72,335 Trading derivatives Currency forwards 15,840,731 11,240,251 3,358,765 30,439,747 185,618 209,955 Interest rate swaps 6,889,665 12,512,285 49,747,459 69,149,409 627,047 526,695 Cross currency swaps 3,966,443 7,589,201 53,148,109 64,703,753 1,562,068 1,449,550 Call currency options 73,943 20,994 2,664 97,601 521 5 Call interest rate options - - - - - - Put currency options 52,143 7,892 2,664 62,699 104 542 Other derivatives - - - - - - Subtotal 26,822,925 31,370,623 106,259,661 164,453,209 2,375,358 2,186,747 Total 29,134,456 35,644,624 113,162,215 177,941,295 2,500,782 2,292,161 |
Schedule of fair value hedged | Below is a detail of the hedged elements and hedge instruments under fair value hedges as of December 31, 2017 and 2016, classified by term to maturity: As of December 31, 2017 Within 1 year Between 1 and 3 years Between 3 and 6 years Over 6 years Total MCh$ MCh$ MCh$ MCh$ MCh$ Hedged item Loans and accounts receivable from customers: Endorsable mortgage mutual loans 587,412 801,230 106,910 - 1,495,552 Available for sale investments Yankee bonds - - 6,169 64,769 70,938 Mortgage financing bonds - - 4,738 - 4,738 Treasury bonds (BTP) - - - 129,539 129,539 Chilean Treasury bonds - 21,377 762,727 - 784,104 Chilean Central Bank bonds 128,289 218,640 443,357 - 790,286 Time deposits and other time liabilities Time deposits 137,985 - - - 137,985 Issued debt instruments Senior bonds 25,000 1,399,686 670,488 2,287,313 4,382,487 Total 878,686 2,440,933 1,994,389 2,481,621 7,795,629 Hedging instrument Cross currency swaps 715,701 1,512,238 1,813,221 2,037,313 6,078,473 Interest rate swaps 162,985 928,695 181,168 444,308 1,717,156 Total 878,686 2,440,933 1,994,389 2,481,621 7,795,629 As of December 31, 2016 Within 1 year Between 1 and 3 years Between 3 and 6 years Over 6 years Total MCh$ MCh$ MCh$ MCh$ MCh$ Hedged item Loans and accounts receivable from customers: Endorsable mortgage mutual loans - - - - - Available for sale investments Yankee bonds - - 6,660 56,610 63,270 Mortgage financing bonds - - 5,651 - 5,651 Treasury bonds (BTP) - - 33,300 366,300 399,600 Chilean Treasury bonds - - - - - Chilean Central Bank bonds (BCP) - - - - - Time deposits and other time liabilities Time deposits 993,659 - - - 993,659 Issued debt instruments Senior bonds 524,869 652,046 1,000,905 520,888 2,698,708 Total 1,518,528 652,046 1,046,516 943,798 4,160,888 Hedging instrument Cross currency swaps 929,988 437,046 531,556 270,888 2,169,478 Interest rate swaps 588,540 215,000 514,960 672,910 1,991,410 Total 1,518,528 652,046 1,046,516 943,798 4,160,888 |
Schedule of cash flow hedged | Below is the notional amount of the hedged items as of December 31, 2017 and 2016, and the period when the cash flows will be generated: As of December 31, 2017 Within 1 year Between 1 and 3 years Between 3 and 6 years Over 6 years Total MCh$ MCh$ MCh$ MCh$ MCh$ Hedged item Loans and accounts receivables from customers Mortgage loans 1,153,348 583,061 1,335,141 2,353,871 5,425,421 Commercial loans 644,608 - - - 644,608 Available for sale investments Yankee bond - - 25,290 132,572 157,862 Chilean Central Bank bonds - - 242,819 - 242,819 Time deposits - - - - - Time deposits and other time liabilities Time deposits - - - - - Issued debt instruments Senior bonds (variable rate) 120,520 647,550 302,454 - 1,070,524 Senior bonds (fixed rate) 241,183 121,619 224,401 300,874 888,077 Interbank borrowings Interbank loans 919,448 402,914 - - 1,322,362 Total 3,079,107 1,755,144 2,130,105 2,787,317 9,751,673 Hedging instrument Cross currency swaps 2,059,032 1,755,144 2,130,105 2,787,317 8,731,598 Currency forwards 1,020,075 - - - 1,020,075 Total 3,079,107 1,755,144 2,130,105 2,787,317 9,751,673 As of December 31, 2016 Within 1 year Between 1 and 3 years Between 3 and 6 years Over 6 years Total MCh$ MCh$ MCh$ MCh$ MCh$ Hedged item Loans and accounts receivables from customers Mortgage loans 1,083,972 312,546 900,746 956,803 3,254,067 Commercial loans 972,360 - - - 972,360 Available for sale investments Yankee bond - - 126,140 406,881 533,021 Chilean Central Bank bonds 20,754 - - - 20,754 Time deposits 26,196 - - - 26,196 Time deposits and other time liabilities Time deposits 285,090 - - - 285,090 Issued debt instruments Senior bonds (variable rate) 854,414 399,451 285,355 - 1,539,220 Senior bonds (fixed rate) 140,765 108,409 243,121 105,600 597,895 Interbank borrowings Interbank loans 1,683,453 415,142 - - 2,098,595 Total 5,067,004 1,235,548 1,555,362 1,469,284 9,327,198 Hedging instrument Cross currency swaps 3,511,186 1,235,548 1,555,362 1,469,284 7,771,380 Currency forwards 1,555,818 - - - 1,555,818 Total 5,067,004 1,235,548 1,555,362 1,469,284 9,327,198 |
Schedule of forecasted cash flows for interest rate risk | Forecasted cash flows for interest rate risk: As of December 31, 2017 Within 1 year Between 1 and 3 years Between 3 and 6 years Over 6 years Total MCh$ MCh$ MCh$ MCh$ MCh$ Hedged item Inflows 308,737 60,515 13,780 2,594 385,626 Outflows (60,733) (43,507) (7,757) (878) (112,875) Net flows 248,004 17,008 6,023 1,716 272,751 Hedging instrument Inflows 60,733 43,507 7,757 878 112,875 Outflows (*) (308,737) (60,515) (13,780) (2,594) (385,626) Net flows (248,004) (17,008) (6,023) (1,716) (272,751) (*)Only includes cash flow forecast portion of the hedge instruments used to cover interest rate risk. As of December 31, 2016 Within 1 year Between 1 and 3 years Between 3 and 6 years Over 6 years Total MCh$ MCh$ MCh$ MCh$ MCh$ Hedged item Inflows 159,439 83,193 32,647 3,748 279,027 Outflows (72,631) (45,857) (18,040) - (136,528) Net flows 86,808 37,336 14,607 3,748 142,499 Hedging instrument Inflows 72,631 45,857 18,040 - 136,528 Outflows (*) (159,439) (83,193) (32,647) (3,748) (279,027) Net flows (86,808) (37,336) (14,607) (3,748) (142,499) (*)Only includes cash flow forecast portion of the hedge instruments used to cover interest rate risk. |
Schedule of forecasted cash flows for inflation risk | Forecasted cash flows for inflation risk: As of December 31, 2017 Within 1 year Between 1 and 3 years Between 3 and 6 years Over 6 years Total MCh$ MCh$ MCh$ MCh$ MCh$ Hedged item Inflows 20,300 29,008 103,544 286,471 439,323 Outflows (1,645) - - - (1,645) Net flows 18,655 29,008 103,544 286,471 437,678 Hedging instrument Inflows 1,645 - - - 1,645 Outflows (20,300) (29,008) (103,544) (286,471) (439,323) Net flows (18,655) (29,008) (103,544) (286,471) (437,678) As of December 31, 2016 Within 1 year Between 1 and 3 years Between 3 and 6 years Over 6 years Total MCh$ MCh$ MCh$ MCh$ MCh$ Hedged item Inflows 22,586 11,896 56,107 115,753 206,342 Outflows (4,900) - - - (4,900) Net flows 17,686 11,896 56,107 115,753 201,442 Hedging instrument Inflows 4,900 - - - 4,900 Outflows (22,586) (11,896) (56,107) (115,753) (206,342) Net flows (17,686) (11,896) (56,107) (115,753) (201,442) |
Schedule of market adjustment of cash flow hedges produced by hedge instruments | The accumulated effect of the mark to market adjustment of cash flow hedges produced by hedge instruments used in hedged cash flow was recorded in the Consolidated Statement of Changes in Equity, specifically within Other comprehensive income, as of December 31, 2017 and 2016, is as follows: As of December 31, Hedged item 2017 2016 MCh$ MCh$ Interbank loans (4,779) (6,019) Time deposits and other time liabilities - (294) Issued debt instruments (8,683) (8,169) Available for sale investments (364) 12,833 Loans and accounts receivable from customers 10,264 3,937 Net flows (3,562) 2,288 |
Schedule of cash flow hedges amount reclassified from other comprehensive income | Below is a presentation of income generated by cash flow hedges amount that were reclassified from other comprehensive income to income for the year: For the years ended December 31, 2017 2016 2015 MCh$ MCh$ MCh$ Bond hedging derivatives - (77) 6 Interbank loans hedging derivatives - - - Cash flow hedge net gains (losses) - (77) 6 |
INTERBANK LOANS (Tables)
INTERBANK LOANS (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Interbank Loans | |
Schedule of interbank loans | a) As of December 31, 2017 and 2016, balances of “Interbank loans”are as follows: As of December 31, 2017 2016 MCh$ MCh$ Domestic banks Interbank loans - 23 Other domestic bank loans - 51 Foreign Interbank Loans Interbank loans – Foreign 162,685 272,733 Provisions and impairment for foreign bank loans (472) (4,135) Total 162,213 268,672 |
Schedule of provisions and impairment of interbank loans | b) The amount in each period for provisions and impairment of interbank loans is shown below: As of December 31, 2017 2016 Domestic banks Foreign banks Total Domestic banks Foreign banks Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Balance as of January 1 - 4,135 4,135 - 1,166 1,166 Provisions established 251 56 307 1 3,051 3,052 Provisions released (251) (3,719) (3,970) (1) (82) (83) Total - 472 472 - 4,135 4,135 |
LOANS AND ACCOUNTS RECEIVABLE56
LOANS AND ACCOUNTS RECEIVABLE FROM CUSTOMERS (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Loans And Accounts Receivable From Customers | |
Schedule of loan portfolio composition | As of December 31, 2017 and 2016, the composition of the loan portfolio is as follows: As of December 31, 2017 Assets before allowances Allowances established Normal portfolio Impaired portfolio Total Individual allowances Group allowances Total Assets net balance MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Commercial loans Commercial loans 9,244,460 746,196 9,990,656 133,254 168,736 301,990 9,688,666 Foreign trade loans 1,506,359 68,154 1,574,513 49,026 1,444 50,470 1,524,043 Checking accounts debtors 179,982 15,714 195,696 2,726 11,740 14,466 181,230 Factoring transactions 444,644 5,246 449,890 4,788 1,207 5,995 443,895 Student loans 77,226 11,064 88,290 - 5,922 5,922 82,368 Leasing transactions 1,335,653 121,351 1,457,004 17,529 12,793 30,322 1,426,682 Other loans and account receivable 106,815 45,778 152,593 11,467 17,231 28,698 123,895 Subtotal 12,895,139 1,013,503 13,908,642 218,790 219,073 437,863 13,470,779 Mortgage loans Loans with mortgage finance bonds 22,620 1,440 24,060 - 123 123 23,937 Endorsable mortgage mutual loans 110,659 4,419 115,078 - 594 594 114,484 Other mortgage mutual loans 8,501,072 456,685 8,957,757 - 68,349 68,349 8,889,408 Subtotal 8,634,351 462,544 9,096,895 - 69,066 69,066 9,027,829 Consumer loans Installment consumer loans 2,613,041 297,701 2,910,742 - 240,962 240,962 2,669,780 Credit card balances 1,341,098 23,882 1,364,980 - 33,401 33,401 1,331,579 Leasing transactions 4,638 77 4,715 - 62 62 4,653 Other consumer loans 271,789 5,466 277,255 - 9,331 9,331 267,924 Subtotal 4,230,566 327,126 4,557,692 - 283,756 283,756 4,273,936 Total 25,760,056 1,803,173 27,563,229 218,790 571,895 790,685 26,772,544 As of December 31, 2016 Assets before allowances Allowances established Normal portfolio Impaired portfolio Total Individual allowances Group allowances Total Assets net balance MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Commercial loans Commercial loans 9,160,354 693,303 9,853,657 159,463 148,703 308,166 9,545,491 Foreign trade loans 1,750,196 79,708 1,829,904 56,919 901 57,820 1,772,084 Checking accounts debtors 166,073 13,395 179,468 2,794 6,854 9,648 169,820 Factoring transactions 291,112 5,639 296,751 4,787 620 5,407 291,344 Student loans - - - - - - - Leasing transactions 1,376,972 108,151 1,485,123 17,593 5,546 23,139 1,461,984 Other loans and account receivable 193,589 28,973 222,562 4,780 20,482 25,262 197,300 Subtotal 12,938,296 929,169 13,867,465 246,336 183,106 429,442 13,438,023 Mortgage loans Loans with mortgage finance bonds 31,368 1,211 32,579 - 16 16 32,563 Endorsable mortgage mutual loans 115,400 4,534 119,934 - 190 190 119,744 Other mortgage mutual loans 8,074,900 391,943 8,466,843 - 56,803 56,803 8,410,040 Subtotal 8,221,668 397,688 8,619,356 - 57,009 57,009 8,562,347 Consumer loans Installment consumer loans 2,468,692 253,673 2,722,365 - 249,545 249,545 2,472,820 Credit card balances 1,418,409 29,709 1,448,118 - 41,063 41,063 1,407,055 Leasing transactions 5,062 55 5,117 - 72 72 5,045 Other consumer loans 266,056 5,147 271,203 - 9,339 9,339 261,864 Subtotal 4,158,219 288,584 4,446,803 - 300,019 300,019 4,146,784 Total 25,318,183 1,615,441 26,933,624 246,336 540,134 786,470 26,147,154 |
Schedule of portfolio of loans | As of December 31, 2017 and 2016 the portfolio before allowances is as follows, by customer’s economic activity: Domestic loans (*) Foreign interbank loans Total loans Distribution percentage As of December 31 As of December 31, As of December 31, As of December 31, 2017 2016 2017 2016 2017 2016 2017 2016 MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ % % Commercial loans Manufacturing 1,218,232 1,180,886 1,218,232 1,180,886 4.39 4.34 Mining 302,037 340,554 - - 302,037 340,554 1.09 1.25 Electricity, gas, and water 336,048 442,936 - - 336,048 442,936 1.21 1.63 Agriculture and livestock 1,114,597 1,096,659 - - 1,114,597 1,096,659 4.02 4.03 Forest 98,941 96,806 - - 98,941 96,806 0.36 0.36 Fishing 215,994 296,592 - - 215,994 296,592 0.78 1.09 Transport 697,948 787,510 - - 697,948 787,510 2.52 2.89 Communications 168,744 196,934 - - 168,744 196,934 0.61 0.72 Construction 1,977,417 1,792,485 - - 1,977,417 1,792,485 7.13 6.59 Commerce 3,131,870 3,120,400 - - 3,294,555 3,393,133 11.88 12.47 Services 467,747 482,900 162,685 272,733 467,747 482,900 1.69 1.77 Other 4,179,067 4,032,877 - - 4,179,067 4,032,877 15.07 14.84 - - Subtotal 13,908,642 13,867,539 162,685 272,733 14,071,327 14,140,272 50.75 51.98 Mortgage loans 9,096,895 8,619,356 9,096,895 8,619,356 32.81 31.68 - - Consumer loans 4,557,692 4,446,803 4,557,692 4,446,803 16.43 16.34 - - Total 27,563,229 26,933,698 162,685 272,733 27,725,914 27,206,431 100.00 100.00 (*) Includes domestic interbank loans for Ch$ 0 million as of December 31, 2017 (Ch$74 million as of December 31, 2016), see Note 8. |
Schedule of impaired portfolio | i) As of December 31, 2017 and 2016, the impaired portfolio is as follows: As of December 31, 2017 2016 Commercial Mortgage Consumer Total Commercial Mortgage Consumer Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Individual impaired portfolio 427,890 - - 427,890 439,707 - - 439,707 Non-performing loans (1) (collectively evaluated) 368,522 161,768 103,171 633,461 316,838 147,572 99,721 564,131 Other impaired portfolio 217,091 300,776 223,955 741,822 172,624 250,116 188,863 611,603 Total 1,013,503 462,544 327,126 1,803,173 929,169 397,688 288,584 1,615,441 (1) Non-performing loans include the aggregate unpaid principal and accrued but unpaid interest on all loans with at least one installment at least 90 days past-due. ii) The impaired portfolio with or without guarantee as of December 31, 2017 and 2016 is as follows: As of December 31, 2017 2016 Commercial Mortgage Consumer Total Commercial Mortgage Consumer Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Secured debt 582,557 413,716 34,260 1,030,533 519,821 357,320 35,134 912,275 Unsecured debt 430,946 48,828 292,866 772,640 409,348 40,368 253,450 703,166 Total 1,013,503 462,544 327,126 1,803,173 929,169 397,688 288,584 1,615,441 iii) The portfolio of non-performing loans with or without guarantee, as of December 31, 2017 and 2016 is as follows: As of December 31, 2017 2016 Commercial Mortgage Consumer Total Commercial Mortgage Consumer Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Secured debt 167,909 141,413 8,896 318,218 159,965 129,632 8,940 298,537 Unsecured debt 200,613 20,355 94,275 315,243 156,873 17,940 90,781 265,594 Total 368,522 161,768 103,171 633,461 316,838 147,572 99,721 564,131 iv) The portfolio of non-performing portfolio as of December 31, 2017 and 2016 is as follows: As of December31, 2017 2016 Commercial Mortgage Consumer Total Commercial Mortgage Consumer Total MM$ MM$ MM$ MM$ MM$ MM$ MM$ MM$ Non-performing >90 days 362,968 159,265 92,541 614,774 311,755 145,084 84,458 541,297 Non-performing <90 days 5,554 2,503 10,630 18,687 5,083 2,488 15,263 22,834 Total 368,522 161,768 103,171 633,461 316,838 147,572 99,721 564,131 |
Schedule of allowances for loans losses | The changes in allowance balances during 2017 and 2016 are as follows: Activity during 2017 Commercial loans Mortgage loans Consumer loans Total Individual Group Group Group MCh$ MCh$ MCh$ MCh$ MCh$ Balance as of January 1, 2017 246,336 183,106 57,009 300,019 786,470 Allowances established (1) 64,658 148,681 43,621 252,038 508,998 Allowances released (2) (55,925) (20,491) (11,427) (46,089) (133,932) Allowances released due to charge-off (3) (36,279) (92,223) (20,137) (222,212) (370,851) Balances as of December 31, 2017 218,790 219,073 69,066 283,756 790,685 Activity during 2016 Commercial loans Mortgage loans Consumer loans Total Individual Group Group Group MCh$ MCh$ MCh$ MCh$ MCh$ Balance as of January 1, 2016 256,505 174,696 62,427 267,507 761,135 Allowances established (1) 61,002 133,855 50,892 280,544 526,293 Allowances released (2) (43,183) (14,432) (34,246) (30,790) (122,651) Allowances released due to charge-off (3) (27,988) (111,013) (22,064) (217,242) (378,307) Balances as of December 31, 2016 246,336 183,106 57,009 300,019 786,470 (1) Represents gross allowances made in respect of increased risk of loss during the period and loan growth. (2) Represents the gross amount of loan loss allowances released during the year as a consequence of reduction in the level of risk existing in the loan portfolio, including as a result of improvement in the credit risk classification of borrowers and loans paid. (3) Represents the gross amount of loan loss allowances removed due to charge-off. |
Schedule of recoveries by type of loan | Recoveries by type of loan For the years ended December 31, 2017 2016 2015 MCh$ MCh$ MCh$ Commercial loans 32,401 27,185 26,032 Consumer loans 39,972 41,072 35,565 Residential mortgage loans 10,942 10,041 6,543 Total 83,315 78,298 68,140 |
Schedule of allowances established on customer and interbank loans | The following chart shows the balance of allowances established, associated with credits granted to customers and banks: As of December 31, 2017 2016 2015 MCh$ MCh$ MCh$ Customers loans 508,998 526,293 545,056 Interbank loans 307 3,052 1,357 Total 509,305 529,345 546,413 |
Schedule of allowance for loan losses associated with impaired and non impaired | Portfolio by its impaired and non-impaired status. As of December 31, 2017 Non-impaired Impaired Portfolio total Commercial Mortgage Consumer Total non impaired Commercial Mortgage Consumer Total impaired Commercial Mortgage Consumer Total portfolio MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Current portfolio 12,737,508 8,357,733 4,012,489 25,107,730 449,895 158,770 110,184 718,849 13,187,403 8,516,503 4,122,673 25,826,579 Overdue for 1-29 days 103,908 180,294 132,136 416,338 110,834 74,072 46,283 231,189 214,742 254,366 178,419 647,527 Overdue for 30-89 days 53,723 96,324 85,941 235,988 89,806 70,437 78,118 238,361 143,529 166,761 164,059 474,349 Overdue for 90 days or more - - - - 362,968 159,265 92,541 614,774 362,968 159,265 92,541 614,774 Total portfolio before allowances 12,895,139 8,634,351 4,230,566 25,760,056 1,013,503 462,544 327,126 1,803,173 13,908,642 9,096,895 4,557,692 27,563,229 Overdue loans (less than 90 days) presented as portfolio percentage 1.22% 3.20% 5.15% 2.53% 19.80% 31.24% 38.03% 26.04% 2.58% 4.63% 7.51% 4.07% Overdue loans (90 days or more) presented as portfolio percentage. - - - - 35.81% 34.43% 28.29% 34.09% 2.61% 1.75% 2.03% 2.23% As of December 31, 2016 Non-impaired Impaired Portfolio total Commercial Mortgage Consumer Total non impaired Commercial Mortgage Consumer Total impaired Commercial Mortgage Consumer Total portfolio MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Current portfolio 12,765,961 7,944,260 3,957,566 24,667,787 463,176 133,816 100,670 697,662 13,229,137 8,078,076 4,058,236 25,365,449 Overdue for 1-29 days 97,302 69,227 113,031 279,560 35,777 12,984 32,536 81,297 133,079 82,211 145,567 360,857 Overdue for 30-89 days 75,033 208,181 87,622 370,836 118,461 105,804 70,920 295,185 193,494 313,985 158,542 666,021 Overdue for 90 days or more - - - - 311,755 145,084 84,458 541,297 311,755 145,084 84,458 541,297 Total portfolio before allowances 12,938,296 8,221,668 4,158,219 25,318,183 929,169 397,688 288,584 1,615,441 13,867,465 8,619,356 4,446,803 26,933,624 Overdue loans (less than 90 days) presented as portfolio percentage 1.33% 3.37% 4.83% 2.57% 16.60% 29.87% 35.85% 23.31% 2.35% 4.60% 6.84% 3.81% Overdue loans (90 days or more) presented as portfolio percentage. - - - - 33.55% 36.48% 29.27% 33.51% 2.25% 1.68% 1.90% 2.01% |
Schedule for transactions of sale or transfer of loan portfolio | Reconciliation of overdue loans with non-performing loans As of December 31, 2017 Commercial Mortgage Consumer Total MCh$ MCh$ MCh$ Overdue loans 362,968 159,265 92,541 614,774 Loans with not overdue but classified as non-performing loans 5,554 2,503 10,630 18,687 Total 368,522 161,768 103,171 633,461 As of December 31, 2016 Commercial Mortgage Consumer Total MCh$ MCh$ MCh$ Overdue loans 311,755 145,084 84,458 541,297 Loans with not overdue but classified as non-performing loans 5,083 2,488 15,263 22,834 Total 316,838 147,572 99,721 564,131 |
AVAILABLE FOR SALE INVESTMENTS
AVAILABLE FOR SALE INVESTMENTS (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Available For Sale Investments | |
Schedule of available for sale investments | As of December 31, 2017 and 2016,detail of instruments deemed as available for sale investments is as follows: As of December 31, 2017 2016 MCh$ MCh$ Chilean central bank and government securities Chilean central bank bonds 816,331 468,386 Chilean central bank notes 330,952 1,222,283 Other Chilean central bank and government securities 1,115,518 52,805 Subtotal 2,262,801 1,743,474 Other Chilean securities Time deposits in Chilean financial institutions 2,361 891,320 Mortgage finance bonds of Chilean financial institutions 22,312 25,488 Other instruments issued in the country 3,000 1,680 Subtotal 27,673 918,488 Foreign financial securities Foreign Central Banks and Government securities 132,822 387,146 Other foreign financial securities 151,250 339,798 Subtotal 284,072 726,944 Total 2,574,546 3,388,906 |
Schedule of gross profits and losses realized on the sale of available for sale investments | Gross profits and losses realized on the sale of available for sale investments as of December 31, 2017, 2016 and 2015, are as follows: For the years ended December 31, 2017 2016 2015 MCh$ MCh$ MCh$ Sale of available for sale investments generating realized profits 6,469,344 6,522,549 2,627,490 Realized profits 4,867 12,333 22,473 Sale of available for sale investments generating realized losses 466.732 346,906 346,450 Realized losses 3 132 72 |
Schedule of available for sale investments cumulative unrealized profit and loss | The following charts show the available for sale investments cumulative unrealized profit and loss, as of December 31, 2017 and 2016: As of December 31, 2017: Less than 12 months More than 12 months Total Acquisition Fair value Unrealized profit Unrealized Acquisition Fair value Unrealized profit Unrealized loss Acquisition Fair value Unrealized profit Unrealized loss MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Chilean central bank and government securities Chilean central bank Bonds 816,164 816,331 5,513 (5,346) - - - - 816,164 816,331 5,513 (5,346) Chilean central bank Notes 330,923 330,952 30 (1) - - - - 330,923 330,952 30 (1) Other Chilean central bank and government securities 1,117,447 1,115,518 2,960 (4,888) - - - - 1,117,447 1,115,518 2,960 (4,888) Subtotal 2,264,534 2,262,801 8,503 (10,235) - - - - 2,264,534 2,262,801 8,503 (10,235) Other Chilean securities Time deposits in Chilean financial institutions 2,361 2,361 - - - - - - 2,361 2,361 - - Mortgage finance bonds of Chilean financial institutions 21,867 22,312 445 - - - - - 21,867 22,312 445 - Chilean financial institution bonds - - - - - - - - - - - - Chilean corporate bonds - - - - - - - - - - - - Other Chilean securities 220 3,000 2,780 - - - - - 220 3,000 2,780 - Subtotal 24,448 27,673 3,225 - - - - - 24,448 27,673 3,225 - Foreign financial securities Foreign central banks and government securities 133,301 132,822 847 (1,326) - - - - 133,301 132,822 847 (1,326) Other foreign financial securities 150,408 151,250 1,097 (256) - - - - 150,408 151,250 1,097 (256) Subtotal 283,709 284,072 1,944 (1,582) - - - - 283,709 284,072 1,944 (1,582) Total 2,572,691 2,574,546 13,672 (11,817) - - - - 2,572,691 2,574,546 13,672 (11,817) As of December 31, 2016: Less than 12 months More than 12 months Total Acquisition Fair value Unrealized profit Unrealized loss Acquisition cost Fair value Unrealized profit Unrealized loss Acquisition Fair value Unrealized profit Unrealized loss MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Chilean central bank and government securities Chilean central bank Bonds 461,793 468,386 6,612 (19) - - - - 461,793 468,386 6,612 (19) Chilean central bank notes 1,222,263 1,222,283 23 (3) - - - - 1,222,263 1,222,283 23 (3) Other Chilean central bank and government securities 52,411 52,805 394 - - - - - 52,411 52,805 394 - Subtotal 1,736,467 1,743,474 7,029 (22) - - - - 1,736,467 1,743,474 7,029 (22) Other Chilean securities Time deposits in Chilean financial institutions 891,276 891,320 108 (64) - - - - 891,276 891,320 108 (64) Mortgage finance bonds of Chilean financial institutions 25,021 25,488 469 (2) - - - - 25,021 25,488 469 (2) Chilean financial institution bonds - - - - - - - - - - - - Chilean corporate bonds - - - - - - - - - - - - Other Chilean securities 220 1,680 1,460 - - - - - 220 1,680 1,460 - Subtotal 916,517 918,488 2,037 (66) - - - - 916,517 918,488 2,037 (66) Foreign financial securities Foreign central banks and government securities 387,077 387,146 69 - - - - - 387,077 387,146 69 - Other foreign financial securities 341,470 339,798 655 (2,327) - - - - 341,470 339,798 655 (2,327) Subtotal 728,547 726,944 724 (2,327) - - - - 728,547 726,944 724 (2,327) Total 3,381,531 3,388,906 9,790 (2,415) - - - - 3,381,531 3,388,906 9,790 (2,415) |
INVESTMENTS IN ASSOCIATES AND58
INVESTMENTS IN ASSOCIATES AND OTHER COMPANIES (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Investments In Associates And Other Companies | |
Schedule of investments in associates and other companies | a) Investments in associates and other, are shown in the following table: Investment Ownership interest As of December 31 Investment value As of December 31, Profit and loss As of December 31, 2017 MCh$ 2016 MCh$ 2015 MCh$ 2017 MCh$ 2016 MCh$ 2017 MCh$ 2016 MCh$ 2015 MCh$ Company Redbanc S.A. 33.43 33.43 33.43 2,537 2,184 353 373 215 Transbank S.A. 25.00 25.00 25.00 14,534 12,510 2,024 1,302 1,256 Centro de Compensación Automatizado 33.33 33.33 33.33 1,589 1,353 236 248 212 Sociedad Interbancaria de Depósito de Valores S.A. 29.29 29.29 29.29 1,087 235 195 213 Cámara de Compensación de Alto Valor S.A. (1,2,3,4) 15.00 14.93 14.23 909 866 66 98 127 Administrador Financiero del Transantiago S.A. 20.00 20.00 20.00 3,098 2,781 317 230 323 Sociedad Nexus S.A. 12.90 12.90 12.90 1,911 1,469 442 247 225 Servicios de Infraestructura de Mercado OTC S.A. (1&2) 12.07 12.07 11.11 1,489 1,378 115 132 (115) Subtotal 27,154 23,479 3,788 2,825 2,456 Shares or rights in other companies (*) Bladex 136 136 25 26 25 Stock Exchanges 287 157 150 161 107 Others 8 8 - - - Total 27,585 23,780 3,963 3,012 2,588 (*) Investments in associates and other companies do not have market prices. (1) During the third quarter of 2016, Banco Penta ceded to Banco Santander a portion of its interest in the companies "Sociedad Operadora de la Cámara de Compensación de pagos de Alto Valor SA" and "Servicios de Market Infrastructure OTC SA ", the Bank's share in those companies increased to 14.84% and 11.93% respectively. (2) During the last quarter of 2016, Banco Penta ceded to Banco Santander a portion of its interest in the companies "Sociedad Operadora de la Cámara de Compensación de pagos de Alto Valor SA" and "Servicios de Market Infrastructure OTC SA ", the Bank's share in those companies increased to 14.93% and 12.07% respectively. (3) In February 2017, Banco Paris sold to Banco Santander a portion of its interest in the companies "Sociedad Operadora de la Cámara de Compensación de pagos de Alto Valor SA", the Bank's share increased to 15.00% (4) In October 2015, HSBC Bank Chile sold its ownership share in Camara de Compensación de Pagos de Alto Valor S.A. to Banco Santander Chile, increasing our participation to 14.23%. |
Schedule of financial information of associates | As of December 31, 2017 2016 2015 Net income Net income Net income Assets Liabilities Equity Assets Liabilities Equity Assets Liabilities Equity MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Centro de Compensación Automatizado 6,871 2,174 3,989 708 5,508 1,523 3,241 744 5,148 1,897 2,616 635 Redbanc S.A. 21,235 13,751 6,428 1,056 19,927 13,505 5,307 1,115 20,296 14,877 4,777 642 Transbank S.A. 822,487 765,683 48,709 8,095 710,475 660,957 44,309 5,209 601,627 561,325 35,278 5,024 Sociedad Interbancaria de Depósito de Valores S.A. 3,720 60 2,858 802 3,204 103 2,435 666 2,714 58 2,093 563 Sociedad Nexus S.A. 32,669 18,888 10,354 3,427 30,038 19,229 8,898 1,911 23,153 13,682 7,730 1,741 Servicios de Infraestructura de Mercado OTC S.A. 17,913 6,414 10,963 536 29,258 18,258 9,906 1,094 17,631 7,800 10,869 (1,038) Administrador Financiero del Transantiago S.A. 51,304 35,814 13,907 1,583 54,253 40,345 12,758 1,150 42,518 29,760 11,145 1,613 Cámara de Compensación de Alto Valor S.A. 6,338 500 5,399 439 6,099 627 4,815 657 5,730 775 4,066 889 Total 962,537 843,284 102,607 16,646 858,762 754,547 91,669 12,546 718,817 630,174 78,574 10,069 |
Schedule of investments in other companies | Activity with respect to investments in other companies during 2017, 2016 and 2015 is as follows: As of December 31, 2017 2016 2015 MCh$ MCh$ MCh$ Opening balance as of January 1, 23,780 20,309 17,914 Acquisition of investments (*) 3 1,123 302 Sale of investments - - - Participation in income 3,962 3,012 2,588 Dividends received (116) (217) (278) Other equity adjustments (44) (447) (217) Total 27,585 23,780 20,309 (*) See reference, part a) of this note. |
INTANGIBLE ASSETS (Tables)
INTANGIBLE ASSETS (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Intangible Assets | |
Schedule of composition of intangible assets | As of December 31, 2017 Years of useful life Average remaining useful life Net opening balance as of January 1, 2016 Gross balance Accumulated amortization Net balance MCh$ MCh$ MCh$ MCh$ Licenses 3 1 1,656 10,932 (9,732) 1,200 Software development 3 2 56,429 314,115 (252,096) 62,019 Total 58,085 325,047 (261,828) 63,219 As of December 31, 2016 Years of useful life Average remaining useful life Net opening balance as of January 1, 2015 Gross balance Accumulated amortization Net balance MCh$ MCh$ MCh$ MCh$ Licenses 3 2 2,060 10,932 (9,276) 1,656 Software development 3 2 49,077 286,781 (230,352) 56,429 Total 51,137 297,713 (239,628) 58,085 |
Schedule of changes in the value of intangible assets | 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 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 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) |
PROPERTY, PLANT, AND EQUIPMENT
PROPERTY, PLANT, AND EQUIPMENT (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Property, plant and equipment [abstract] | |
Schedule of composition of property, plant, and equipment | a) As of December 31, 2017 Net opening balance as of January 1, 2017 Gross balance Accumulated depreciation Net balance MCh$ MCh$ MCh$ MCh$ Land and buildings 169,809 274,079 (114,727) 159,352 Equipment 66,506 193,689 (130,173) 63,516 Ceded under operating leases 4,230 4,888 (667) 4,221 Other 16,834 60,822 (45,364) 15,458 Total 257,379 533,478 (290,931) 242,547 As of December 31, 2016 Net opening balance as of January 1, 2016 Gross balance Accumulated depreciation Net balance MCh$ MCh$ MCh$ MCh$ Land and buildings 158,434 264,016 (94,207) 169,809 Equipment 59,908 168,124 (101,618) 66,506 Ceded under operating leases 4,238 4,888 (658) 4,230 Other 18,079 55,973 (39,139) 16,834 Total 240,659 493,001 (235,622) 257,379 |
Schedule of changes in the value of property, plant, and equipment | b) The changes in the value of property, plant, and equipment as of December 31, 2017 and 2016 is as follows: b.1) 2017 Land and buildings Equipment Ceded under operating leases Other Total MCh$ MCh$ MCh$ MCh$ MCh$ Balances as of January 1, 2017 264,016 168,124 4,888 55,973 493,001 Additions 27,592 26,278 - 4,902 58,772 Disposals (17,529) (359) - (53) (17,941) Impairment due to damage - (354) - - (354) Other - - - - - Balances as of December 31, 2017 274,079 193,689 4,888 60,822 533,478 2016 Land and buildings Equipment Ceded under operating leases Other Total MCh$ MCh$ MCh$ MCh$ MCh$ Balances as of January 1, 2016 237,449 137,621 4,888 51,482 431,440 Additions 26,567 30,965 - 4,823 62,355 Disposals - (228) - (332) (560) Impairment due to damage - (234) - - (234) Other - - - - - Balances as of December 31, 2016 264,016 168,124 4,888 55,973 493,001 b.2) 2017 Land and buildings Equipment Ceded under operating leases Other Total MCh$ MCh$ MCh$ MCh$ MCh$ Balances as of January 1, 2017 (94,207) (101,618) (658) (39,139) (235,622) Depreciation charges in the period (20,744) (28,592) (9) (6,277) (55,622) Sales and disposals in the period 224 37 - 52 313 Transfers - - - - 0 Other - - - - 0 Balances as of December 31, 2017 (114,727) (130,173) (667) (45,364) (290,931) 2016 Land and buildings Equipment Ceded under operating leases Other Total MCh$ MCh$ MCh$ MCh$ MCh$ Balances as of January 1, 2016 (79,015) (77,713) (650) (33,403) (190,781) Depreciation charges in the period (15,192) (23,976) (8) (5,849) (45,025) Sales and disposals in the period - 71 - 113 184 Transfers - - - - - Other - - - - - Balances as of December 31, 2016 (94,207) (101,618) (658) (39,139) (235,622) |
Schedule of operational leases - lessor | c) Operational leases – lessor As of December 31, 2017 and 2016, the future minimum lease cash inflows under non-cancellable operating leases are as follows: As of December 31, 2017 2016 MCh$ MCh$ Due within 1 year 567 506 Due after 1 year but within 2 years 749 1,029 Due after 2 years but within 3 years 480 502 Due after 3 years but within 4 years 348 473 Due after 4 years but within 5 years 308 344 Due after 5 years 1,792 2,067 Total 4,244 4,921 |
Schedule of operational leases - lessee | d) Operational leases – lessee Certain Bank’s premises and equipment are leased under various operating leases. Future minimum rental payments under non-cancellable leases are as follows: As of December 31, 2017 2016 MCh$ MCh$ Due within 1 year 26,059 26,455 Due after 1 year but within 2 years 21,343 24,903 Due after 2 year but within 3 years 18,091 20,582 Due after 3 years but within 4 years 15,736 17,321 Due after 4 years but within 5 years 12,734 14,569 Due after 5 years 51,502 53,694 Total 145,465 157,524 |
CURRENT AND DEFERRED TAXES (Tab
CURRENT AND DEFERRED TAXES (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Current And Deferred Taxes Details 2 | |
Schedule of taxes payable (recoverable) | This amount is recorded net of recoverable taxes, and is shown as follows: As of December 31, 2017 2016 MCh$ MCh$ Summary of current tax liabilities (assets) Current tax (assets) - - Current tax liabilities 6,435 29,294 Total tax payable (recoverable) 6,435 29,294 (Assets) liabilities current taxes detail (net) Income tax, tax rate(*) 145,112 145,963 Minus: Provisional monthly payments (136,562) (113,700) Credit for training expenses (1,768) (1,972) Land taxes leasing - - Grant credits (968) (1,079) Other 621 82 Total tax payable (recoverable) 6,435 29,294 (*)The tax rate is 25.5% for 2017 and 24.0% for 2016. |
Schedule of effect on income | The effect of tax expense on income for the years ended December 31, 2017 and 2016 is comprised of the following items: As of December 31, 2017 2016 2015 MCh$ MCh$ MCh$ Income tax expense Current tax 145,112 145,963 121,775 Credits (debits) for deferred taxes Origination and reversal of temporary differences (6,751) (37,269) (45,672) Valuation provision 5,955 Subtotals 144,316 108,694 76,103 Tax for rejected expenses (Article No.21) 610 336 340 Other 105 1 (48) Net charges for income tax expense 145,031 109,031 76,395 |
Schedule of effective tax rate reconciliation | The reconciliation between the income tax rate and the effective rate applied in determining tax expenses as of December 31, 2017, 2016 and 2015, is as follows: For the year ended December 31, 2017 2016 2015 Tax rate Amount Tax rate Amount Tax rate Amount % MCh$ % MCh$ % MCh$ Tax calculated over profit before tax 25.50 183,671 24.00 140,991 22.50 118,828 Price level restatement for tax purposes (1) (3.03) (21,829) (5.49) (32,256) (5.42) (28,630) Single penalty tax (rejected expenses) 0.08 610 0.06 336 0.06 340 Effect of tax reform changes on deferred tax (2) (2.86) (20,600) 0.01 86 (2.01) (10,600) Real estate taxes 0.00 - 0.00 - (0.73) (3,853) Other 0.44 3,179 (0.02) (126) 0.06 310 Effective rates and expenses for income tax 20.13 145,031 18.56 109,031 14.46 76,395 (1) Price level restatement on tax purpose capital (2) In accordance with Chilean Law N°20.780 published in September 29, 2014 the income tax rate are 25,5% and 27% for 2017 and 2018 respectively. |
Schedule of effect of deferred taxes on comprehensive income | Below is a summary of the separate effect of deferred tax on other comprehensive income, showing the asset and liability balances, for the years ended December 31, 2017 and 2016: As of December 31, 2017 2016 MCh$ MCh$ Deferred tax assets Available for sale investments 368 3,266 Cash flow hedges 908 - Total deferred tax assets recognized through other comprehensive income 1,276 3,266 Deferred tax liabilities Available for sale investments (841) (5,036) Cash flow hedges - (549) Total deferred tax liabilities recognized through other comprehensive income (841) (5,585) Net deferred tax balances in equity 435 (2,319) Deferred taxes in equity attributable to equity holders of the Bank 791 (2,097) Deferred tax in equity attributable to non-controlling interests (356) (222) |
Schedule of effect of deferred taxes on income | the Bank has recorded effects for deferred taxes in the financial statements: As of December 31, 2017 2016 MCh$ MCh$ Deferred tax assets Interests and adjustments 8,645 9,473 Non-recurring charge-offs 11,651 9,891 Assets received in lieu of payment 1,582 2,999 Exchange rate adjustments 882 - Property, plant and equipment valuation 4,410 4,570 Allowance for loan losses 160,359 163,456 Provision for expenses 73,518 67,073 Leased assets 98,090 71,834 Subsidiaries tax losses 5,277 9,467 Prepaid expenses 151 - Other 5,249 17,571 Total deferred tax assets 369,814 356,334 Deferred tax liabilities Valuation of investments (1,911) (1,802) Depreciation (532) - Valuation provision (5,955) - Other (432) (299) Total deferred tax liabilities (8,830) (2,101) |
Schedule of deferred tax assets and liabilities | Below is a summary of the deferred taxes impact on equity and income. As of December 31, 2017 2016 MCh$ MCh$ Deferred tax assets Recognized through other comprehensive income 1,276 3,266 Recognized through profit or loss 369,815 356,334 Total deferred tax assets 371,091 359,600 Deferred tax liabilities Recognized through other comprehensive income (841) (5,585) Recognized through profit or loss (8,822) (2.101) Total deferred tax liabilities (9,663) (7.686) |
OTHER ASSETS (Tables)
OTHER ASSETS (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Other Assets | |
Schedule of other assets | Other assets item includes the following: As of December 31, 2017 2016 MCh$ MCh$ Assets for leasing (1) 48,099 44,840 Assets received or awarded in lieu of payment Assets received in lieu of payment 20,904 26,598 Assets awarded at judicial sale 24,800 26,895 Provision on assets received in lieu of payment or awarded (1,440) (7,558) Subtotal 44,264 45,935 Other assets Guarantee deposits (margin accounts) (2) 323,767 396,289 Gold investments 478 446 VAT credit 9,570 8,941 Income tax recoverable 1,381 22,244 Prepaid expenses 116,512 148,288 Assets recovered from leasing for sale 4,235 6,040 Pension plan assets 921 1,637 Accounts and notes receivable 59,574 56,624 Notes receivable through brokerage and simultaneous transactions 68,272 60,632 Other receivable assets 53,500 15,082 Other assets (3) 33,837 40,274 Subtotal 672,047 756,497 Total 764,410 847,272 (1) Assets available to be granted under the financial leasing agreements. (2) Guarantee deposits (margin accounts) correspond collaterals associated with derivative financial contracts to mitigate the counterparty credit risk and are mainly established in cash. These guarantees operate when mark to market of derivative financial instruments exceed the levels of threshold agreed in the contracts, which could result the the Bank deliver or receive collateral. (3) Other assets mainly include settlement of derivatives and other financial transactions. |
TIME DEPOSITS AND OTHER TIME 63
TIME DEPOSITS AND OTHER TIME LIABILITIES (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Time Deposits And Other Time Liabilities | |
Scheduel of time deposits and other time liabilities | As of December 31, 2017 and 2016, the composition of the line item time deposits and other liabilities is as follows: As of December 31, 2017 2016 MCh$ MCh$ Deposits and other demand liabilities Checking accounts 6,272,656 6,144,688 Other deposits and demand accounts 590,221 564,966 Other demand liabilities 905,289 829,661 Total 7,768,166 7,539,315 Time deposits and other time liabilities Time deposits 11,792,466 13,031,319 Time savings account 116,179 116,451 Other time liabilities 5,300 3,939 Total 11,913,945 13,151,709 |
INTERBANK BORROWINGS (Tables)
INTERBANK BORROWINGS (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure of financial liabilities [line items] | |
Schedule of Interbank borrowings | As of December 31, 2017 and 2016 the line item Interbank borrowings is as follows: As of December 31, 2017 2016 MCh$ MCh$ Loans from financial institutions and the Central Bank of Chile Other obligations with Central Bank of Chile 5 7 Subtotal 5 7 Loans from domestic financial institutions 480 365,436 Loans from foreign financial institutions Sumitomo Mitsui Banking Corporation 259,199 233,060 Wells Fargo Bank N.A. 235,058 113,631 Bank Of America N.A. 228,309 - Standard Chartered Bank 225,966 101,874 Mizuho Bank Ltd. NY. 215,967 - Citibank N.A. 191,471 183,193 The Bank of Nova Scotia 86,419 39,967 The Toronto-Dominion Bank 62,743 - Corporación Andina De Fomento 31,075 - Barclays Bank PLC London 30,886 33,279 HSBC Bank Plc NY 30,875 33,214 The Bank of New York Mellon 30,839 82,594 Hsbc Bank Plc 30,838 - European Investment Bank 12,629 13,980 Banco Santander – Hong Kong 8,341 6,165 Banco Santander Brasil S.A. 5,225 5,175 Bank Austria A.G. 2,317 - Bank of China 823 311 Shanghai Pudong Development 714 205 Bank of Tokyo Mitsubishi 453 430 Keb Hana Bank 396 301 Shinhan Bank 394 354 Thai Military Bank Public Comp 377 425 Hua Nan Commercial Bank Ltd. 349 83 Mizuho Corporate Bank 331 411,753 Banco Santander Central Hispano 312 - Agricultural Bank of China 295 327 Banco de Occidente 282 - Banco Do Brasil S.A. 268 120 Unicredito Italiano 264 - Bank of East Asia, Limited 241 54 Canara Bank 224 91 Hong Kong and Shanghai Banking 222 889 International Commercial Bank 221 - Banque Generale Du Luxembourg 207 138 Kookmin Bank 201 317 Zhejiang Commercial Bank Ltd. 175 - Banca Monte dei Paschi di Siena 162 309 Taiwan Cooperative Bank 159 - Deutsche Bank A.G. 157 - Yapi Ve Kredi Bankasi A.S. 155 73 J.P. Morgan Chase Bank N.A. 154 49 Banco Commerzbank 145 47 Bank of Taiwan 136 183 Industrial And Commercial Bank 119 - Bank Of Nova Scotia 112 - State Bank of India 110 289 Woori Bank 105 153 Bancolombia S.A. 94 31 Bank of Communications 93 393 Cassa Di Risparmio Di Parma E 93 132 China Construcción Bank 90 1,044 Metropolitan Bank Limited 87 26 Banca Delle Marche Spa 76 31 Australia And New Zealand Bank 62 21 Abanca Corporacion Bancaria SA 60 - Casa Di Risparmo De Padova E.R. 56 76 Societe Generale 56 - Hanvit Bank 55 76 Banca Popolare Dell'Emilia Rom 53 26 Banco Bradesco S.A. 50 113 Punjab National Bank 47 - Citic Industrial Bank 39 - Hang Seng Bank Ltd. 39 - Subtotal 1,697,470 1,265,002 As of December 31, 2017 2016 MCh$ MCh$ Loans from foreign financial institutions, continuación Hsbc Bank Usa 38 - First Union National Bank 35 226 Habib Bank Limited 34 105 Banco Caixa Geral. 33 - Banco Internacional S.A. 33 - Banca Commerciale Italiana S.P. 31 - Bank of Montreal 30 201 Kasikornbank Public Company Li. 25 - Citibank N.A. Turkiye Merkez S. 23 158 Liu Chong Hing Bank Limited 21 - Banco Popular Espanol S.A. 19 56 Taiwan Business Bank 19 - Fortis Bank S.A./N.V. Brussels 15 12 Chang Hwa Commercial Bank Ltd. 14 17 Banco De Sabadell S.A. 10 - Bank Of China Guangdong Branch 8 14 Icici Bank Limited 8 25 Banco Popolare Soc Coop 6 5 Bank of America - 213,200 NTT Docomo Ibc - 33,149 Zurcher Kantonal Bank - 20,021 Banque Bruxelles Lambert S.A. - 5,797 Banque Cantonale Vaudoise - 5,714 Denizbank A.S. - 347 Banco Santander – Madrid - 322 Unicredito Italiano - 302 Taipei Bank - 260 ING Bank N.V. - Vienna - 228 Westpac Banking Corporation - 226 BNP Paribas S.A. - 218 Oriental Bank of Commerce - 132 Kotak Mahindra Bank Limited - 129 Caixabank S.A. - 93 Development Bank Of Singapore - 80 Hsbc France (formerly Hsbc Ccf) - 74 Banco General S.A. - 62 Banco De Crédito Del Perú - 58 Hsbc Bank Canada - 47 Finans Bank A.S. - 46 Bangkok Bank Public Company Li. - 42 United Bank of India - 39 Banco Bolivariano C.A. - 38 Banco Bilbao Vizcaya Argentaria - 34 Hsbc Bank Brasil S.A. - Banco - 34 Banca Popolare Di Vicenza Scpa - 31 Bayerische Hypo- Und Vereinsba - 27 Banco Itau - 25 China Merchants Bank - 22 Hsbc Bank Middle East - 21 Banca Lombarda E Piemontese S. - 21 Export-Import Bank Of Thailand - 20 Cassa Di Risparmio In Bologna - 20 Fifth Third Bank - 15 Hdfc Bank Limited - 13 Union Bank of India - 10 Intesa Sanpaolo Spa - 7 Deutsche Bank Sociedad Anonima - 6 Industrial Bank of Korea - 5 Others - 4,169 Subtotal 1,697,872 1,550,925 Total 1,698,357 1,916,368 |
Schedule of outstanding amounts owed to the Central Bank of Chile | The outstanding amounts owed to the Central Bank of Chile under these credit lines are as follows: As of December 31, 2017 2016 MCh$ MCh$ Totals Line of credit for renegotiation with Central Bank of Chile 5 7 |
Loans from domestic financial institutions [Member] | |
Disclosure of financial liabilities [line items] | |
Schedule of loans from financial institutions | These obligations’ maturities are as follows: As of December 31, 2017 2016 MCh$ MCh$ Due within 1 year 480 365,436 Due within 1 and 2 year - - Due within 2 and 3 year - - Due within 3 and 4 year - - Due after 5 years - - Total loans from domestic financial institutions 480 365,436 |
Loans from foreign financial institutions [Member] | |
Disclosure of financial liabilities [line items] | |
Schedule of loans from financial institutions | As of December 31, 2017 2016 MCh$ MCh$ Due within 1 year 1,477,318 525,521 Due within 1 and 2 year 185,519 725,315 Due within 2 and 3 year 35,035 186,352 Due within 3 and 4 year - 80,473 Due after 5 years - 33,264 Total loans from foreign financial institutions 1,697,872 1,550,925 |
ISSUED DEBT INSTRUMENTS AND O65
ISSUED DEBT INSTRUMENTS AND OTHER FINANCIAL LIABILITIES (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Issued Debt Instruments And Other Financial Liabilities | |
Schedule of composition of issued debt instruments and other financial liabilities | As of December 31, 2017 and 2016, composition of this item is as follows: As of December 31, 2017 2016 MCh$ MCh$ Other financial liabilities Obligations to public sector 59,470 61,490 Other domestic obligations 175,389 175,028 Foreign obligations 7,171 3,498 Subtotals 242,030 240,016 Issued debt instruments Mortgage finance bonds 34,479 46,251 Senior bonds 6,186,760 6,416,274 Mortgage bond 99,222 104,182 Subordinated bonds 773,192 759,665 Subtotals 7,093,653 7,326,372 Total 7,335,683 7,566,388 |
Schedule of debts classified | The Bank’s debts, both current and non-current, are summarized below: As of December 31, 2017 Current Non-current Total MCh$ MCh$ MCh$ Mortgage finance bonds 8,691 25,788 34,479 Senior bonds 337,166 5,849,594 6,186,760 Mortgage bond 4,541 94,681 99,222 Subordinated bonds 3 773,189 773,192 Issued debt instruments 350,401 6,743,252 7,093,653 Other financial liabilities 212,825 29,205 242,030 Total 563,226 6,772,457 7,335,683 As of December 31, 2016 Current Non-current Total MCh$ MCh$ MCh$ Mortgage finance bonds 11,236 35,015 46,251 Senior bonds 1,135,713 5,280,561 6,416,274 Mortgage bond 4,318 99,864 104,182 Subordinated bonds 4 759,661 759,665 Issued debt instruments 1,151,271 6,175,101 7,326,372 Other financial liabilities 158,488 81,528 240,016 Total 1,309,759 6,256,629 7,566,388 |
Schedule of mortgage finance bonds | Loans are indexed to UF and create a yearly interest yield of 5.41% as of December 31, 2017 (5.53% as of December 31, 2016). As of December 31, 2017 2016 MCh$ MCh$ Due within 1 year 8,691 11,236 Due after 1 year but within 2 years 6,744 8,673 Due after 2 year but within 3 years 6,096 6,928 Due after 3 year but within 4 years 5,155 6,246 Due after 4 year but within 5 years 4,101 5,278 Due after 5 years 3,692 7,890 Total mortgage bonds 34,479 46,251 |
Schedule of senior bonds by currency | The following table shows senior bonds by currency: As of December 31, 2017 2016 MCh$ MCh$ Santander bonds in UF 3,542,006 3,588,373 Santander bonds in USD 1,045,465 909,354 Santander bonds in CHF 268,281 568,549 Santander bonds in Ch$ 1,135,527 1,037,515 Santander bonds in AUD 14,534 60,890 Current bonds in JPY 126,059 179,426 Santander bonds in EUR 54,888 72,167 Total senior bonds 6,186,760 6,416,274 |
Schedule of placement of senior bonds | In 2017, the Bank issued bonds for UF 10,000,000; CLP 160,000,000,000; USD 770,000,000; and AUD 30,000,000 detailed as follows: Series Currency Amount Term Issuance rate Series approval date Series maximum amount Maturity date T9 UF 5,000,000 7.0 2.60% 01-02-2016 5,000,000 01-02-2024 T13 UF 5,000,000 9.0 2.75% 01-02-2016 5,000,000 01-02-2026 Total UF 10,000,000 10,000,000 SD CLP 60,000,000,000 5.0 5.50% 01-06-2014 200,000,000,000 01-06-2019 T16 CLP 100,000,000,000 6.0 5.20% 01-02-2016 100,000,000,000 01-08-2021 Total CLP 160,000,000,000 300,000,000,000 DN USD 100,000,000 3.0 Libor-USD 3M+0.80% 20-07-2017 100,000,000 27-07-2020 DN USD 50,000,000 3.0 Libor-USD 3M+0.80% 21-07-2017 50,000,000 27-07-2020 DN USD 50,000,000 3.0 Libor-USD 3M+0.80% 24-07-2017 50,000,000 27-07-2020 DN USD 10,000,000 4.0 Libor-USD 3M+0.83% 23-08-2017 10,000,000 23-11-2021 DN USD 10,000,000 4.0 Libor-USD 3M+0.83% 23-08-2017 10,000,000 23-11-2021 DN USD 50,000,000 3.0 Libor-USD 3M+0.75% 14-09-2017 50,000,000 15-09-2020 DN USD 500,000,000 3.0 2.50% 12-12-2017 500,000,000 15-12-2020 Total USD 770,000,000 770,000,000 AUD AUD 30,000,000 10.0 3.96% 05-12-2017 30,000,000 12-12-2027 Total AUD 30,000,000 30,000,000 |
Schedule of partial repurchase | During 2017, the Bank performed a partial repurchase of the following bonds: Date Type Currency Amount 06-03-2017 Senior USD 6,900,000 12-05-2017 Senior UF 1,000,000 16-05-2017 Senior UF 690,000 17-05-2017 Senior UF 15,000 26-05-2017 Senior UF 340,000 01-06-2017 Senior UF 590,000 02-06-2017 Senior UF 300,000 05-06-2017 Senior UF 130,000 19-06-2017 Senior UF 265,000 10-07-2017 Senior UF 770,000 21-07-2017 Senior UF 10,000 28-08-2017 Senior UF 200,000 28-08-2017 Senior UF 200,000 29-08-2017 Senior UF 2,000 29-08-2017 Senior UF 270,000 03-11-2017 Senior UF 14,000 29-11-2017 Senior UF 400,000 06-12-2017 Senior UF 20,000 12-12-2017 Senior CLP 10,990,000,000 |
Schedule of bank issued bonds | In 2016, the Bank issued bonds for UF 62,000,000; CLP 590,000,000,000; JPY 3,000,000,000; USD 215,000,000; EUR 104,000,000; and CHF 125,000,000 detailed as follows: Series Currency Amount Term Issuance rate Series approval date date Series maximum amount Maturity date R1 UF 15,000,000 5.5 2.50% 01-09-2015 15,000,000 01-03-2021 R2 UF 10,000,000 7.5 2.60% 01-09-2015 10,000,000 01-03-2023 R3 UF 10,000,000 10.5 3.00% 01-09-2015 10,000,000 01-03-2026 R5 UF 7,000,000 7.0 2.55% 01-12-2015 7,000,000 01-12-2022 R6 UF 7,000,000 9.0 2.65% 01-12-2015 7,000,000 01-12-2024 P9 UF 3,000,000 10.5 2.60% 01-03-2015 5,000,000 01-09-2025 T2 UF 5,000,000 4.5 2.25% 01-02-2016 5,000,000 01-08-2020 T5 UF 5,000,000 6.0 2.40% 01-02-2016 5,000,000 01-02-2022 Total UF 62,000,000 R4 CLP 100,000,000,000 5.5 5.50% 01-09-2015 100,000,000,000 01-03-2021 P4 CLP 50,000,000,000 5.0 4.80% 01-03-2015 150,000,000,000 01-03-2020 SD CLP 140,000,000,000 5.0 5.50% 01-06-2014 200,000,000,000 01-06-2019 SC CLP 200,000,000,000 10.0 5.95% 01-06-2014 200,000,000,000 01-06-2024 P3 CLP 50,000,000,000 7.0 5.50% 01-01-2015 50,000,000,000 01-01-2022 P1 CLP 50,000,000,000 10.0 5.80% 01-01-2015 50,000,000,000 01-01-2025 Total CLP 590,000,000,000 JPY JPY 3,000,000,000 5.0 0.115% 22-06-2016 3,000,000,000 29-06-2021 Total JPY 3,000,000,000 DN USD 10,000,000 5.0 Libor-USD 3M+1.05% 02-06-2016 10,000,000 09-06-2021 DN USD 10,000,000 5.0 Libor-USD 3M+1.22% 08-06-2016 10,000,000 17-06-2021 DN USD 10,000,000 5.0 Libor-USD 3M+1.20% 01-08-2016 10,000,000 16-08-2021 DN USD 185,000,000 5.0 Libor-USD 3M+1.20% 10-11-2016 185,000,000 28-11-2021 Total USD 215,000,000 EUR EUR 54,000,000 12.0 1.307% 05-08-2016 54,000,000 17-08-2028 EUR EUR 20,000,000 8.0 0.80% 04-08-2016 20,000,000 19-08-2024 EUR EUR 30,000,000 3.0 0.25% 09-12-2016 30,000,000 20-12-2019 Total EUR 104,000,000 CHF CHF 125,000,000 8.5 0.35% 14-11-2016 125,000,000 30-05-2025 Total CHF 125,000,000 |
Schedule of bank performed a partial repurchase | During 2016, the Bank performed a partial repurchase of the following bond: Date Type Currency Amount 13-01-2016 Senior USD 600,000 27-01-2016 Senior USD 960,000 08-03-2016 Senior USD 418,853,000 08-03-2016 Senior USD 140,104,000 10-05-2016 Senior USD 10,000,000 29-11-2016 Senior USD 6,895,000 |
Schedule of maturities of senior bonds | ii. The maturities of senior bonds are as follows: As of December 31, 2017 2016 MCh$ MCh$ Due within 1 year 337,166 1,135,713 Due after 1 year but within 2 years 866,936 321,509 Due after 2 year but within 3 years 832,978 816,919 Due after 3 year but within 4 years 1,177,081 663,289 Due after 4 year but within 5 years 902,647 754,768 Due after 5 years 2,069,952 2,724,076 Total senior bonds 6,186,760 6,416,274 |
Schedule of mortgage bonds per currency | Detail of mortgage bonds per currency is as follows: As of December 31, 2017 2016 MCh$ MCh$ Mortgage bonds in UF 99,222 104,182 Total mortgage bonds 99,222 104,182 |
Schedule of maturities of mortgage bond | i. The maturities of Mortgage bond are as follows: As of December 31, 2017 2016 MCh$ MCh$ Due within 1 year 4,541 4,318 Due after 1 year but within 2 years 7,291 6,932 Due after 2 year but within 3 years 7,526 7,156 Due after 3 year but within 4 years 7,769 7,386 Due after 4 year but within 5 years 8,019 7,626 Due after 5 years 64,076 70,764 Total Mortgage bonds 99,222 104,182 |
Schedule of subordinated bonds | Detail of the subordinated bonds per currency is as follows: As of December 31, 2017 2016 MCh$ MCh$ Subordinated bonds denominated in CLP 3 4 Subordinated bonds denominated in UF 773,189 759,661 Total subordinated bonds 773,192 759,665 |
Schedule of maturities of subordinated bonds | The maturities of subordinated bonds, are as follows: As of December 31, 2017 2016 MCh$ MCh$ Due within 1 year 3 4 Due after 1 year but within 2 years - - Due after 2 year but within 3 years - - Due after 3 year but within 4 years - - Due after 4 year but within 5 years - - Due after 5 years 773,189 759,661 Total subordinated bonds 773,192 759,665 |
Schedule of other financial liabilities | The composition of other financial obligations, by maturity, is detailed below: As of December 31, 2017 2016 MCh$ MCh$ Non-current portion: Due after 1 year but within 2 years 23,401 33,777 Due after 2 year but within 3 years 4,181 24,863 Due after 3 year but within 4 years 194 5,794 Due after 4 year but within 5 years 210 1,973 Due after 5 years 1,219 15,121 Non-current portion subtotal 29,205 81,528 Current portion: Amounts due to credit card operators 173,271 151,620 Acceptance of letters of credit 2,780 2,069 Other long-term financial obligations, short-term portion 36,774 4,799 Current portion subtotal 212,825 158,488 Total other financial liabilities 242,030 240,016 |
MATURITY OF FINANCIAL ASSETS 66
MATURITY OF FINANCIAL ASSETS AND LIABILITIES (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Maturity Of Financial Assets And Liabilities | |
Schedule of assets and liabilities maturities | As of December 31, 2017 and 2016, the detail of the maturities of assets and liabilities is as follows: As of December 31, 2017 Demand Up to 1 month Between 1 and 3 months Between 3 and 12 months Subtotal up to 1 year Between 1 and 3 years Between 3 and 5 years More than 5 years Subtotal More than 1 year Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Financial assets Cash and deposits in banks 1,452,922 - - - 1,452,922 - - - - 1,452,922 Cash items in process of collection 668,145 - - - 668,145 - - - - 668,145 Trading investments - 72,983 4,024 68,277 145,284 110,824 90,507 139,121 340,452 485,736 Investments under resale agreements - - - - - - - - - - Financial derivative contracts - 135,780 198,876 410,415 745,071 385,428 371,090 737,058 1,493,576 2,238,647 Interbank loans (*) - 6,064 152,911 3,710 162,685 - - - - 162,685 Loans and accounts receivables from customers (**) 769,823 2,206,734 2,288,372 4,348,975 9,613,904 5,187,501 2,938,326 9,823,498 17,949,325 27,563,229 Available for sale investments - 58,850 11,788 102,600 173,238 556,289 975,372 869,647 2,401,308 2,574,546 Guarantee deposits (margin accounts) 323,767 - - - 323,767 - - - - 323,767 Total financial assets 3,214,657 2,480,411 2,655,971 4,933,977 13,285,016 6,240,042 4,375,295 11,569,324 22,184,661 35,469,677 Financial liabilities Deposits and other demand liabilities 7,768,166 - - - 7,768,166 - - - - 7,768,166 Cash items in process of being cleared 486,726 - - - 486,726 - - - - 486,726 Obligations under repurchase agreements - 268,061 - - 268,061 - - - - 268,061 Time deposits and other time liabilities 121,479 5,120,171 4,201,271 2,299,018 11,741,939 106,833 2,811 62,362 172,006 11,913,945 Financial derivative contracts - 144,410 196,444 356,288 697,142 378,582 358,358 705,406 1,442,346 2,139,488 Interbank borrowings 4,130 46,013 397,419 1,030,241 1,477,803 220,554 - - 220,554 1,698,357 Issued debt instruments - 21,043 55,119 274,239 350,401 1,727,571 2,104,771 2,910,910 6,743,252 7,093,653 Other financial liabilities 177,663 701 2,583 31,879 212,826 27,581 404 1,219 29,204 242,030 Guarantees received (margin accounts) 408,313 - - - 408,313 - - - - 408,313 Total financial liabilities 8,966,477 5,600,399 4,852,836 3,991,665 23,411,377 2,461,121 2,466,344 3,679,897 8,607,362 32,018,739 (*) Interbank loans are presented on a gross basis. The amount of allowance is Ch$472 million. (**) Loans and accounts receivables from customers are presented on a gross basis. Provisions amounts according to type of loan are detailed as follows: Commercial loans Ch$ 437,863 million, Mortgage loans Ch$ 69,066 million, and Consumer loans Ch$ 283,756 million. As of December 31, 2016 Demand Up to 1 month Between 1 and 3 months Between 3 and 12 months Subtotal up to 1 year Between 1 and 3 years Between 3 and 5 years More than 5 years Subtotal More than 1 year Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Financial assets Cash and deposits in banks 2,279,389 - - - 2,279,389 - - - - 2,279,389 Cash items in process of collection 495,283 - - - 495,283 - - - - 495,283 Trading investments - 52,443 13,252 118,845 184,540 75,378 106,808 30,261 212,447 396,987 Investments under resale agreements - 6,736 - - 6,736 - - - - 6,736 Financial derivative contracts - 82,243 120,653 292,801 495,697 531,094 357,833 1,116,158 2,005,085 2,500,782 Interbank loans (*) - 12,859 135,756 124,143 272,758 44 - 5 49 272,807 Loans and accounts receivables from customers (**) 717,306 2,393,216 2,108,001 4,488,993 9,707,516 4,937,271 2,909,140 9,379,697 17,226,108 26,933,624 Available for sale investments - 1,581,682 250,222 314,842 2,146,746 37,974 379,976 824,210 1,242,160 3,388,906 Guarantee deposits (margin accounts) 396,289 - - - 396,289 - - - - 396,289 Total financial assets 3,888,267 4,129,179 2,627,884 5,339,624 15,984,954 5,581,761 3,753,757 11,350,331 20,685,849 36,670,803 Financial liabilities Deposits and other demand liabilities 7,539,315 - - - 7,539,315 - - - - 7,539,315 Cash items in process of being cleared 288,473 - - - 288,473 - - - - 288,473 Obligations under repurchase agreements - 212,437 - - 212,437 - - - - 212,437 Time deposits and other time liabilities 121,527 6,105,767 4,193,906 2,537,299 12,958,499 118,101 13,913 61,196 193,210 13,151,709 Financial derivative contracts - 92,335 122,565 263,893 478,793 494,539 346,948 971,881 1,813,368 2,292,161 Interbank borrowings 4,557 373,423 115,769 1,154,063 1,647,812 233,542 35,014 - 268,556 1,916,368 Issued debt instruments - 43,141 185,425 922,705 1,151,271 1,168,117 1,444,593 3,562,391 6,175,101 7,326,372 Other financial liabilities 153,049 1,461 1,161 2,817 158,488 58,641 7,766 15,121 81,528 240,016 Guarantees received (margin accounts) 480,926 - - - 480,926 - - - - 480,926 Total financial liabilities 8,587,847 6,828,564 4,618,826 4,880,777 24,916,014 2,072,940 1,848,234 4,610,589 8,531,763 33,447,777 (*) Interbank loans are presented on a gross basis. The amount of allowance is Ch$4,135 million. (**) Loans and accounts receivables from customers are presented on a gross basis. Provisions amounts according to type of loan are detailed as follows: Commercial loans Ch$ 429,442 million, Mortgage loans Ch$ 57,009 million, and Consumer loans Ch$ 300,019 million. |
PROVISIONS (Tables)
PROVISIONS (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Provisions [abstract] | |
Schedule of composition provisions | As of December 31, 2017 and 2016, the composition is as follows: As of December 31, 2017 2016 MCh$ MCh$ Provisions for personnel salaries and expenses 97,576 72,592 Provisions for mandatory dividends 168,840 142,815 Provisions for contingent loan risk 10,079 11,399 Provisions for contingencies associated with administrative claims and leasing contracts 27,303 65,404 Total 303,798 292,210 |
Schedule of activity regarding provision | Below is the activity regarding provisions during the years ended December 31, 2017 and 2016. Personnel salaries and expenses Mandatory Dividend Contingent loan Contingencies Total MCh$ MCh$ MCh$ MCh$ MM$ Balances as of January 1, 2017 72,592 142,815 11,399 65,404 292,210 Provisions established 106,687 168,840 7,341 8,645 291,513 Application of provisions (81,703) (142,815) - (389) (224,907) Provisions released - - (8,661) (46,357) (55,018) Reclassifications - - - - - Other - - - - - Balances as of December 31, 2017 97,576 168,840 10,079 27,303 303,798 Balances as of January 1, 2016 64,861 134,539 10,750 64,848 274,998 Provisions established 80,298 142,815 9,789 85,492 318,394 Application of provisions (72,567) (134,539) - (135) (207,241) Provisions released - - (9,140) (84,801) (93,941) Reclassifications - - - - - Other - - - - - Balances as of December 31, 2016 72,592 142,815 11,399 65,404 292,210 |
Schedule of provisions for personnel salaries and expenses | Provisions for personnel salaries and expenses: As of December 31, 2017 2016 MCh$ MCh$ Provision for seniority compensation 17,874 10,376 Provision for stock-based personnel benefits - - Provision for performance bonds 53,947 38,510 Provision for vacations 23,039 21,800 Provision for other personnel benefits 2,716 1,906 Total 97,576 72,592 |
OTHER LIABILITIES (Tables)
OTHER LIABILITIES (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Other Liabilities | |
Schedule of other liabilities | The other liabilities line item is as follows: As of December 31, 2017 2016 MCh$ MCh$ Accounts and notes payable 196,965 154,159 Unearned income 601 509 Guarantees received (margin accounts) (1) 408,313 480,926 Notes payable through brokerage and simultaneous transactions 17,799 27,745 Other payable obligations (2) 58,921 80,100 Withheld VAT 1,887 1,964 Other liabilities (3) 60,877 50,382 Total 745,363 795,785 (1) Guarantee deposits (margin accounts) correspond to collateral associated to derivative financial contracts to mitigate the counterparty credit risk and are mainly established in cash. These guarantees operate when mark to market of derivative financial instruments exceed the levels of threshold agreed in the contracts, which could result in the Bank delivering or receiving collateral. (2) Other payable obligations mainly relates to settlement of derivatives and other financial transactions derived from the operation of the Bank. (3) Other liabilities: mainly include reimbursement of insurance commissions. |
CONTINGENCIES AND COMMITMENTS (
CONTINGENCIES AND COMMITMENTS (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Contingencies And Commitments | |
Schedule of contractual obligations | The following table shows the Bank’s contractual obligations to issue loans: As of December 31, 2017 2016 MCh$ MCh$ Letters of credit issued 201,699 158,800 Foreign letters of credit confirmed 75,499 57,686 Guarantees 1,823,793 1,752,610 Personal guarantees 81,577 125,050 Subtotal 2,182,568 2,094,146 Available on demand credit lines 8,135,489 7,548,820 Other irrevocable credit commitments 260,691 260,266 Total 10,578,748 9,903,232 |
Schedule of held securities | The Bank holds securities in the normal course of its business as follows: As of December 31, 2017 2016 MCh$ MCh$ Third party operations Collections 175,200 163,303 Assets from third parties managed by the Bank and its affiliates 1,660,804 1,586,405 Subtotal 1,836,004 1,749,708 Custody of securities Securities held in custody 383,002 390,155 Securities held in custody deposited in other entity 760,083 687,610 Issued securities held in custody 22,046,701 18,768,572 Subtotal 23,189,786 19,846,337 Total 25,025,790 21,596,045 |
EQUITY (Tables)
EQUITY (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
EQUITY | |
Schedule of activity shares | The activity with respect to shares during 2017, 2016 and 2015 was as follows: SHARES As of December 31, 2017 2016 2015 Issued as of January 1 188,446,126,794 188,446,126,794 188,446,126,794 Issuance of paid shares - - - Issuance of outstanding shares - - - Stock options exercised - - - Issued as of December 31, 188,446,126,794 188,446,126,794 188,446,126,794 |
Schedule of shareholder composition | As of December 31, 2017 the shareholder composition was as follows: Corporate Name or Shareholder's Name Shares ADRs (*) Total % of equity holding Santander Chile Holding S.A. 66,822,519,695 - 66,822,519,695 35.46 Teatinos Siglo XXI Inversiones Limitada 59,770,481,573 - 59,770,481,573 31.72 The Bank New York Mellon - 31,238,866,071 31,238,866,071 16.58 Banks on behalf of third parties 13,892,691,988 - 13,892,691,988 7.37 Pension funds (AFP) on behalf of third parties 6,896,552,755 - 6,896,552,755 3.66 Stock brokers on behalf of third parties 3,762,310,365 - 3,762,310,365 2.00 Other minority holders 6,062,704,347 - 6,062,704,347 3.21 Total 157,207,260,723 31,238,866,071 188,446,126,794 100.00 (*) American Depository Receipts (ADR) are certificates issued by a U.S. commercial bank to be traded on the U.S. securities markets. As of December 31, 2016 the shareholder composition was as follows: Corporate Name or Shareholder's Name Shares ADRs (*) Total % of equity holding Santander Chile Holding S.A. 66,822,519,695 - 66,822,519,695 35.46 Teatinos Siglo XXI Inversiones Limitada 59,770,481,573 - 59,770,481,573 31.72 The Bank New York Mellon (1) - 34,800,933,671 34,800,933,671 18.47 Banks on behalf of third parties 12,257,100,312 - 12,257,100,312 6.50 Pension funds (AFP) on behalf of third parties 6,990,857,997 - 6,990,857,997 3.71 Stock brokers on behalf of third parties 3,071,882,351 - 3,071,882,351 1.63 Other minority holders 4,732,351,195 - 4,732,351,195 2.51 Total 153,645,193,123 34,800,933,671 188,446,126,794 100.00 (*) American Depository Receipts (ADR) are certificates issued by a U.S. commercial bank to be traded on the U.S. securities markets. As of December 31, 2015 the shareholder composition was as follows: Corporate Name or Shareholder's Name Shares ADRs (*) Total % of equity holding Santander Chile Holding S.A. 66,822,519,695 - 66,822,519,695 35.46 Teatinos Siglo XXI Inversiones Limitada 59,770,481,573 - 59,770,481,573 31.72 The Bank New York Mellon (1) - 32,516,063,671 32,516,063,671 17.25 Banks on behalf of third parties 11,878,070,560 - 11,878,070,560 6.30 Pension funds (AFP) on behalf of third parties 8,887,560,424 - 8,887,560,424 4.72 Stock brokers on behalf of third parties 3,460,285,074 - 3,460,285,074 1.84 Other minority holders 5,111,145,797 - 5,111,145,797 2.71 Total 155,930,063,123 32,516,063,671 188,446,126,794 100.00 (*) American Depository Receipts (ADR) are certificates issued by a U.S. commercial bank to be traded on the U.S. securities markets. (1) As of August 4, 2015, Banco Santander Chile signed a contract which appoints The Bank of New York Mellon as the commercial bank authorized to trade ADRs, replacing J.P.Morgan Chase Bank NA. |
Schedule of basic and diluted earnings per share | As of December 31, 2017, 2016 and 2015 the basic and diluted earnings per share were as follows: As of December 31, 2017 2016 2015 MCh$ MCh$ MCh$ a) Basic earnings per share Total attributable to the equity holders of the Bank 562,801 476,067 448,466 Weighted average number of outstanding shares 188,446,126,794 188,446,126,794 188,446,126,794 Basic earnings per share (in Ch$) 2,987 2,526 2,380 b) Diluted earnings per share Total attributable to the equity holders of the Bank 562,801 476,067 448,466 Weighted average number of outstanding shares 188,446,126,794 188,446,126,794 188,446,126,794 Adjusted number of shares 188,446,126,794 188,446,126,794 188,446,126,794 Diluted earnings per share (in Ch$) 2,987 2,526 2,380 |
Schedule of other comprehensive income from available for sale investments and cash flow hedges | Other comprehensive income from available for sale investments and cash flow hedges: For the years ended December 31, 2017 2016 2015 MCh$ MCh$ MCh$ Available for sale investments As of January 1, 7,375 (7,093) 21,684 Gain (losses) on the re-measurement of available for sale investments, before tax (10,384) 2,267 (51,178) Recycling from other comprehensive income to income for the year 4,864 12,201 22,401 Subtotals (5,520) 14,468 (28,777) Total 1,855 7,375 (7,093) Cash flow hedges As of January 1, 2,288 8,626 10,725 Gains (losses) on the re-measurement of cash flow hedges, before tax (5,850) (6,261) (2,105) Recycling adjustments on cash flow hedges, before tax - (77) 6 Amounts removed from equity and included in carrying amount of non-financial asset (liability) which acquisition or incurrence was hedged as a highly probable transaction - - - Subtotals (5,850) (6,338) (2,099) Total (3,562) 2,288 8,626 Other comprehensive income, before taxes (1,707) 9,663 1,533 Income tax related to other comprehensive income components Income tax relating to available for sale investments (473) (1,770) 1,596 Income tax relating to cash flow hedges 908 (549) (1,940) Total 435 (2,319) (344) Other comprehensive income, net of tax (1,272) 7,344 1,189 Attributable to: Equity holders of the Bank (2,312) 6,640 1,288 Non-controlling interest 1,040 704 (99) |
NON-CONTROLLING INTEREST (Table
NON-CONTROLLING INTEREST (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Non-controlling Interest | |
Schedule of non-controlling interest included in the equity and the income | The non-controlling interest included in the equity and the income from the subsidiaries is summarized as follows: Other comprehensive income As of December 31, 2017 Non-controlling Equity Income Available for sale investments Deferred tax Total other comprehensive income Comprehensive income % MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Subsidiaries: Santander Agente de Valores Limitada 0.97 389 132 - - - 132 Santander S.A. Sociedad Securitizadora 0.36 1 - - - - - Santander Corredores de Bolsa Limitada 49.00 21,000 702 470 (134) 336 1,038 Santander Corredora de Seguros Limitada 0.25 167 4 - - - 4 Subtotal 21,557 838 470 (134) 336 1,174 Entities controlled through other considerations: Bansa Santander S.A. (1) 100.00 17,401 10,869 - - - 10,869 Santander Gestión de Recaudación y Cobranzas Limitada 100.00 2,925 741 - - - 741 Subtotal 20,326 11,610 - - - 11,610 Total 41,883 12,448 470 (134) 336 12,784 (1) In September 2017, Bansa Santander S.A. celebrated a legal cession of rights,which generated an income of Ch$20,663 million before tax (Ch$15,197 million net of taxes) Other comprehensive income As of December 31, 2016 Non-controlling Equity Income Available for sale investments Deferred tax Total other comprehensive income Comprehensive income % MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Subsidiaries: Santander Agente de Valores Limitada 0.97 492 116 - - - 116 Santander S.A. Sociedad Securitizadora 0.36 2 - - - - - Santander Corredores de Bolsa Limitada (1) 49.41 19,966 1,130 1,054 (251) 803 1,933 Santander Corredora de Seguros Limitada 0.25 164 7 - - - 7 Subtotal 20,624 1,253 1,054 (251) 803 2.056 Entities controlled through other considerations: Bansa Santander S.A. 100.00 6,533 529 - - - 529 Santander Gestión de Recaudación y Cobranzas Limitada 100.00 2,184 583 - - - 583 Subtotal 8,717 1,112 - - - 1,112 Total 29,341 2,365 1,054 (251) 803 3,168 (1) Ex Santander S.A. Corredores de Bolsa, See Note1. Other comprehensive income As of December 31, 2015 Non-controlling Equity Income Available for sale investments Deferred tax Total other comprehensive income Comprehensive income % MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Subsidiaries: Santander Agente de Valores Limitada 0.97 652 98 (4) 1 (3) 95 Santander S.A. Sociedad Securitizadora 0.36 2 - - - - - Santander S.A.a Corredores de Bolsa Ltda 49.41 21,765 816 (128) 29 (99) 717 Santander Corredora de Seguros Limitada 0.25 156 (5) - - - (5) Subtotals 22,575 909 (132) 30 (102) 807 Entities controlled through other considerations: Bansa Santander S.A. 100.00 6,004 334 - - - 334 Santander Gestión de Recaudación y Cobranzas Limitada (1) 100.00 1,602 564 - - - 564 Multinegocios S.A. 100.00 - 310 - - - 310 Servicios Administrativos y Financieros Limitada 100.00 - 550 - - - 550 Multiservicios de Negocios Limitada 100.00 - 596 - - - 596 Subtotals 7,606 2.354 - - - 2,354 Total 30,181 3.263 (132) 30 (102) 3,161 (1) |
Schedule of financial information of the subsidiaries included in the consolidation of the Bank that possess non-controlling interests | a) The overview of the financial information of the subsidiaries included in the consolidation of the Bank that possess non-controlling interests is as follows, which does not include consolidation or conforming accounting policy adjustments: As of December 31, 2017 2016 2015 Net income Net income Net Assets Liabilities Capital Assets Liabilities Capital Assets Liabilities Capital income MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Santander Corredora de Seguros Limitada 76,177 9,803 64,937 1,437 75,000 10,065 62,276 2,659 72,860 10,588 60,765 1,507 Santander Corredores de Bolsa Limitada 88,711 45,855 41,424 1,432 86,473 45,724 38,356 2,393 71,118 26,763 42,618 1,737 Santander Agente de Valores Limitada 44,910 4,732 26,569 13,609 54,486 3,666 38,851 11,969 131,305 64,049 57,554 9,702 Santander S.A. Sociedad Securitizadora 400 50 432 (82) 509 77 512 (80) 566 53 561 (48) Santander Gestión de Recaudación y Cobranzas Ltda. 10,826 7,901 2,184 741 8,547 6,363 1,602 582 6,194 4,592 1,038 564 Bansa Santander S.A. 25,535 8,134 6,533 10,868 31,301 24,768 6,004 529 31,631 25,627 5,670 334 Total 246,559 76,475 142,079 28,005 256,316 90,663 147,601 18,052 313,674 131,672 168,206 13,796 |
INTEREST INCOME (Tables)
INTEREST INCOME (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Interest Income | |
Schedule of income from interest | For the years ended December 31, 2017, 2016 and 2015 the income from interest, was attributable to the following items: For the years ended December 31, 2017 2016 2015 Interest Inflation adjustments Prepaid fees Total Interest Inflation adjustments Prepaid fees Total Interest Inflation adjustments Prepaid fees Total Items MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Resale agreements 939 - - 939 1,488 - - 1,488 1,075 - - 1,075 Interbank loans 969 - - 969 295 - - 295 375 - - 375 Commercial loans 752,013 85,389 10,525 847,927 742,432 130,904 7,659 880,995 687,464 168,752 8,494 864,710 Mortgage loans 320,041 149,303 414 469,758 304,116 228,081 7,012 539,209 259,941 286,437 23,191 569,569 Consumer loans 612,932 363 4,738 618,033 604,152 660 4,318 609,130 586,385 3,418 3,706 593,509 Investment instruments 74,000 5,797 - 79,797 75,808 2,916 - 78,724 60,004 7,616 - 67,620 Other interest income 12,172 1,538 - 13,710 11,136 2,445 - 13,581 10,111 5,831 - 15,942 Interest income not including income from hedge accounting 1,773,066 242,390 15,677 2,031,133 1,739,427 365,006 18,989 2,123,422 1,605,355 472,054 35,391 2,112,800 |
Schedule of interest expense | For the years ended December 31, 2017, 2016 and 2015, the expense from interest expense, excluding expense from hedge accounting, is as follows: For the years ended December 31, 2017 2016 2015 Interest Inflation adjustments Total Interest Inflation adjustments Total Interest Inflation adjustments Total Items MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Demand deposits (13,851) (695) (14,546) (16,003) (1,043) (17,046) (13,875) (1,343) (15,218) Repurchase agreements (6,514) - (6,514) (2,822) - (2,822) (6,893) - (6,893) Time deposits and liabilities (341,821) (20,509) (362,330) (399,720) (38,946) (438,666) (346,174) (47,370) (393,544) Interbank loans (26,805) - (26,805) (19,803) - (19,803) (14,998) (2) (15,000) Issued debt instruments (220,027) (76,170) (296,197) (197,973) (105,452) (303,425) (183,561) (113,029) (296,590) Other financial liabilities (2,946) (303) (3,249) (3,008) (781) (3,789) (3,070) (1,180) (4,250) Other interest expense (5,236) (4,973) (10,209) (5,211) (8,874) (14,085) (3,456) (14,776) (18,232) Interest expense not including expenses from hedge accounting (617,200) (102,650) (719,850) (644,540) (155,096) (799,636) (572,027) (177,700) (749,727) |
Schedule of income and expense from interest | For the years ended December 31, 2017, 2016 and 2015, the income and expense from interest is as follows: For the years ended December 31, 2017 2016 2015 Items MCh$ MCh$ MCh$ Interest income not including income from hedge accounting 2,031,133 2,123,422 2,112,800 Interest expense not including expense from hedge accounting (719,850) (799,636) (749,727) Net Interest income (expense) from hedge accounting 1,311,283 1,323,786 1,363,073 Hedge accounting (net) 15,408 (42,420) (107,867) Total net interest income 1,326,691 1,281,366 1,255,206 |
FEES AND COMMISSIONS (Tables)
FEES AND COMMISSIONS (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Fees And Commissions | |
Schedule of fees and commission | This item includes the amount of fees earned and paid during the year, except for those which are an integral part of the financial instrument’s effective interest rate: For the years ended December 31, 2017 2016 2015 MCh$ MCh$ MCh$ Fee and commission income Fees and commissions for lines of credits and overdrafts 7,413 5,754 6,597 Fees and commissions for guarantees and letters of credit 33,882 35,911 35,276 Fees and commissions for card services 201,791 195,566 175,262 Fees and commissions for management of accounts 31,901 31,540 30,291 Fees and commissions for collections and payments 44,312 31,376 30,399 Fees and commissions for intermediation and management of securities 10,090 9,304 10,000 Insurance brokerage fees 36,430 40,882 39,252 Office banking 15,669 14,145 15,224 Fees for other services rendered 43,123 38,038 35,978 Other fees earned 30,947 28,668 24,621 Total 455,558 431,184 402,900 For the years ended December 31, 2017 2016 2015 MCh$ MCh$ MCh$ Fee and commission expense Compensation for card operation (149,809) (143,509) (129,196) Fees and commissions for securities transactions (858) (946) (1,315) Office banking (15,283) (14,671) (15,320) Other fees (10,545) (17,634) (19,442) Total (176,495) (176,760) (165,273) Net fees and commissions income 279,063 254,424 237,627 |
NET INCOME (EXPENSE) FROM FIN74
NET INCOME (EXPENSE) FROM FINANCIAL OPERATIONS (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Net Income Expense From Financial Operations | |
Schedule of income (expense) from financial operations | For the years ended December 31, 2017, 2016 and 2015, the detail of income (expense) from financial operations is as follows: For the years ended December 31, 2017 2016 2015 MCh$ MCh$ MCh$ Income (expense) from financial operations Trading derivatives (18,974) (395,209) (503,981) Trading investments 10,008 18,229 21,505 Sale of loans and accounts receivables from customers Current portfolio 3,020 1,469 921 Charged-off portfolio 3,020 2,720 (58) Available for sale investments 8,956 14,598 23,655 Repurchase of issued bonds (742) (8,630) (14) Other income (expense) from financial operations (2,492) (211) 75 Total income (expense) 2,796 (367,034) (457,897) |
NET FOREIGN EXCHANGE GAIN (LO75
NET FOREIGN EXCHANGE GAIN (LOSS) (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Net Foreign Exchange Gain Loss | |
Schedule of net foreign exchange income | For the years ended December 31, 2017, 2016 and 2015 net foreign exchange income is as follows: For the years ended December 31, 2017 2016 2015 MCh$ MCh$ MCh$ Net foreign exchange gain (loss) Net profit (loss) from currency exchange differences 113,115 116,117 (197,875) Hedging derivatives 22,933 399,875 777,254 Income from assets indexed to foreign currency (9,190) (8,745) 25,421 Income from liabilities indexed to foreign currency 98 145 (1,404) Total 126,956 507,392 603,396 |
PROVISIONS FOR LOAN LOSSES (Tab
PROVISIONS FOR LOAN LOSSES (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Provisions For Loan Losses | |
Schedule of provisions for loan losses | For the years ended December 31, 2017, 2016 and 2015 activity for provisions for loan losses is as follows: Loans and accounts receivable from customers Total For the year ended December 31, 2017 Interbank loans Individual Commercial loans Mortgage loans Consumer loans Contingent loans Individual Group Group Group Individual Group MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Charged-off individually significant loans - (15,699) - - - - - (15,699) Provisions established (307) (64,658) (148,681) (43,621) (252,038) (3,117) (4,224) (516,646) Total provisions and charge-offs (307) (80,357) (148,681) (43,621) (252,038) (3,117) (4,224) (532,345) Provisions released 3,970 55,925 20,491 11,427 46,089 7,001 1,660 146,563 Recovery of loans previously charged off - 11,114 21,499 10,942 39,972 - - 83,527 Net charge to income 3,663 (13,318) (106,691) (21,252) (165,977) 3,884 (2,564) (302,255) Loans and accounts receivable from customers Total For the year ended December 31, 2016 Interbank loans Individual Commercial loans Mortgage loans Consumer loans Contingent loans Individual Group Group Group Individual Group MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Charged-off individually significant loans - (11,222) - - - - - (11,222) Provisions established (3,052) (61,002) (133,855) (50,892) (280,544) (11,986) (2,909) (544,240) Total provisions and charge-offs (3,052) (72,224) (133,855) (50,892) (280,544) (11,986) (2,909) (555,462) Provisions released 83 43,183 14,432 34,246 30,790 6,963 5,384 135,081 Recovery of loans previously charged off - 11,142 16,043 10,041 41,072 - - 78,298 Net charge to income (2,969) (17,899) (103,380) (6,605) (208,682) (5,023) 2,475 (342,083) Loans and accounts receivable from customers Total For the year ended December 31, 2015 Interbank loans Individual Commercial loans Mortgage loans Consumer loans Contingent loans Individual Group Group Group Individual Group MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Charged-off individually significant loans - (12,955) - - - - - (12,955) Provisions established (1,357) (124,968) (136,778) (34,373) (248,937) (2,808) (2,601) (551,822) Total provisions and charge-offs (1,357) (137,923) (136,778) (34,373) (248,937) (2,808) (2,601) (564.777) Provisions released 192 46,614 17,885 7,205 18,126 5,042 2,296 97,360 Recovery of loans previously charged off - 8.978 17,054 6,543 35,565 - - 68,140 Net charge to income (1,165) (82,331) (101,839) (20,625) (195,246) 2,234 (305) (399.277) |
Schedule of charge-off of individually significant loans | The detail of Charge-off of individually significant loans, is as follows: For the years ended December 31, 2017 2016 2015 MCh$ MCh$ MCh$ Charge-off of loans 51,978 47,605 50,656 Provision applied (36,279) (36,383) (37,701) Net charge offs of individually significant loans 15,699 11,222 12,955 |
PERSONNEL SALARIES AND EXPENS77
PERSONNEL SALARIES AND EXPENSES (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Personnel Salaries And Expenses | |
Schedule of personnel expenses | For the years ended December 31, 2017, 2016 and 2015, the composition of personnel salaries and expenses is as follows: For the years ended December 31, 2017 2016 2015 MCh$ MCh$ MCh$ Personnel compensation 250,962 249,703 233,707 Bonuses or gratifications 75,181 77,649 78,260 Stock-based benefits 2,752 331 66 Seniority compensation 26,120 26,263 34,012 Pension plans 2,039 (150) 431 Training expenses 2,867 2,835 3,186 Day care and kindergarten 2,505 3,072 2,992 Health funds 4,748 4,777 4,474 Welfare funds 896 806 754 Other personnel expenses 28,897 29,847 29,181 Total 396,967 395,133 387,063 |
ADMINISTRATIVE EXPENSES (Tables
ADMINISTRATIVE EXPENSES (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Administrative Expenses | |
Schedule of administrative expenses | For the years ended December 31, 2017, 2016 and 2015, the composition of the item is as follows: For the years ended December 31, 2017 2016 2015 MCh$ MCh$ MCh$ General administrative expenses 139,418 138,974 127,826 Maintenance and repair of property, plant and equipment 21,359 19,901 20,002 Office lease 26,136 28,098 27,472 Equipment lease 96 280 134 Insurance payments 3,354 3,842 3,656 Office supplies 6,862 5,747 6,232 IT and communication expenses 39,103 37,351 28,420 Heating, and other utilities 5,468 4,863 4,764 Security and valuables transport services 12,181 14,793 15,393 Representation and personnel travel expenses 4,262 5,440 4,590 Judicial and notarial expenses 967 952 2,103 Fees for technical reports and auditing 9,379 7,631 7,301 Other general administrative expenses 10,244 10,076 7,759 Outsourced services 57,400 55,757 60,913 Data processing 34,880 36,068 39,286 Products sale - - 226 Archive services 3,324 4,427 1,047 Valuation services 2,419 3,489 2,969 Outsourcing 6,878 5,404 7,275 Other 9,899 6,369 10,110 Board expenses 1,290 1,371 1,465 Marketing expenses 18,877 17,844 18,483 Taxes, payroll taxes, and contributions 13,118 12,467 11,844 Real estate taxes 1,443 1,435 1,813 Patents 1,646 1,618 1,589 Other taxes 24 93 3 Contributions to SBIF 10,005 9,321 8,439 Total 230,103 226,413 220,531 |
DEPRECIATION, AMORTIZATION, A79
DEPRECIATION, AMORTIZATION, AND IMPAIRMENT (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Depreciation Amortization And Impairment | |
Schedule of depreciation, amortization and impairment charges | Depreciation, amortization and impairment charges for the years ended December 31, 2017, 2016 and 2015, are detailed below: For the years ended December 31, 2017 2016 2015 MCh$ MCh$ MCh$ Depreciation and amortization Depreciation of property, plant, and equipment (55,623) (45,025) (36,195) Amortization of Intangible assets (22,200) (20,334) (17,419) Total depreciation and amortization (77,823) (65,359) (53,614) Impairment of property, plant, and equipment (354) (234) (21) Impairment of intangibles (5,290) - - Total (83,467) (65,593) (53,635) |
OTHER OPERATING INCOME AND EX80
OTHER OPERATING INCOME AND EXPENSES (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Other Operating Income And Expenses | |
Schedule of other operating income | Other operating income is comprised of the following components: For the years ended December 31, 2017 2016 2015 MCh$ MCh$ MCh$ Income from assets received in lieu of payment 3,330 1,663 2,455 Income from sale of investments in other companies - - 617 Release of contingencies provisions (1) 29,903 - - Other income Leases 264 519 708 Income from sale of property, plant and equipment (2) 23,229 2,017 381 Recovery of provisions for contingencies - - - Compensation from insurance companies due to damages 1,237 1,530 435 Other 4,053 698 1,843 Subtotal 28,783 4,764 3,367 Total 62,016 6,427 6,439 (1) (2) |
Schedule of other operating expenses | For the years ended December 31, 2017 2016 2015 MCh$ MCh$ MCh$ Allowances and expenses for assets received in lieu of payment Provision on assets received in lieu of payment 3,912 9,246 7,803 Expenses for maintenance of assets received in lieu of payment 1,679 2,170 2,397 Subtotal 5,591 11,416 10,200 Credit card expenses 3,070 3,636 4,624 Customer services 2,563 3,734 3,919 Other expenses Operating charge-offs 1,607 6,146 5,359 Life insurance and general product insurance policies 23,475 18,393 11,225 Additional tax on expenses paid overseas - 142 2,651 Provisions for contingencies - 4,238 15,230 Retail association payment 912 - - Other 31,195 21,197 5,521 Subtotal 57,189 50,116 39,986 Total 68,413 68,902 58,729 |
TRANSACTIONS WITH RELATED PAR81
TRANSACTIONS WITH RELATED PARTIES (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Transactions With Related Parties | |
Schedule of loans and accounts receivable as well as contingent loans that correspond to related entities | Below are loans and accounts receivable as well as contingent loans that correspond to related entities: As of December 31, 2017 2016 2015 Companies of the Group Associated companies Key personnel Other Companies of the Group Associated companies Key personnel Other Companies of the Group Associated companies Key personnel Other MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Loans and accounts receivable: Commercial loans 80,076 771 3,947 7,793 81,687 533 4,595 7,100 77,388 565 5,841 1,963 Mortgage loans - - 18,796 - - - 18,046 - - - 20,559 - Consumer loans - - 4,310 - - - 3,783 - - - 2,274 - Loans and accounts receivable: 80,076 771 27,053 7,793 81,687 533 26,424 7,100 77,388 565 28,674 1,963 Allowance for loan losses (209) (9) (177) (18) (209) (35) (87) (34) (213) (190) (62) (20) Net loans 79,867 762 26,876 7,775 81,478 498 26,337 7,066 77,175 375 28,612 1,943 Guarantees 361,452 - 23,868 7,164 434,141 - 23,636 5,486 499,803 - 25,493 1,632 Contingent loans: Personal guarantees - - - - - - - - - - - - Letters of credit 19,251 - - 33 27,268 - - - 29,275 - - - Guarantees 377,578 - - - 437,101 - - - 510,309 - - 2 Contingent loans: 396,829 - - 33 464,369 - - - 539,584 - - 2 Allowance for contingent loans (4) - - 1 (5) - - - (11) - - - Net contingent loans 396,825 - - 34 464,364 - - - 539,573 - - 2 |
Schedule of loan activity to related parties | Loan activity to related parties during 2017, 2016 and 2015 is shown below: As of December 31, 2017 2016 2015 Companies of the Group Associated companies Key Personnel Other Companies of the Group Associated companies Key Personnel Other Companies of the Group Associated companies Key Personnel Other MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Opening balances as of January 1, 546,058 532 26,423 7,100 616,968 565 28,675 1,966 500,449 9,614 27,087 9,516 Loans granted 78,214 318 7,777 1,050 122,729 203 8,580 6,808 276,383 7 8,991 4,113 Loans payments (147,366) (79) (7,149) (324) (193,189) (236) (10,832) (1,674) (159,864) (9,056) (7,403) (11,663) Total 476,906 771 27,051 7,826 546,508 532 26,423 7,100 616,968 565 28,675 1,966 |
Schedule of assets and liabilities with related parties | Assets and liabilities with related parties As of December 31, 2017 2016 2015 Companies of the Group Associated companies Key personnel Other Companies of the Group Associated companies Key personnel Other Companies of the Group Associated companies Key personnel Other MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Assets Cash and deposits in banks 74,949 - - - 187,701 - - - 23,578 - - - Trading investments - - - - - - - - - - - - Obligations under repurchase agreements Loans - - - - - - - - - - - - Financial derivative contracts 545,028 86,011 - - 742,851 33,433 - - 771,774 24,773 - - Available for sale investments - - - - - - - - - - - - Other assets 8,480 118,136 - - 4,711 67,454 - - 3,218 19,101 - - Liabilities Deposits and other demand liabilities 24,776 25,805 2,470 221 6,988 7,141 2,883 630 9,987 8,535 2,454 1,373 Obligations under repurchase agreements Loans 50,945 - - - 56,167 - - - 12,006 - - - Time deposits and other time liabilities 785,988 27,968 3,703 3,504 1,545,835 6,219 2,525 2,205 1,360,572 234 2,728 898 Financial derivative contracts 418,647 142,750 - 7,190 954,575 54,691 - - 1,323,996 23,326 - - Interbank borrowing - - - - 6,165 - - - - - - - Issued debt instruments 482,626 - - - 484,548 - - - 398,565 - - - Other financial liabilities 4,919 - - - 8,970 - - - 2,409 - - - Other liabilities 164,303 58,168 - - 446 44,329 - - 376 19,541 - - |
Schedule of income (expense) recorded due to transactions with related parties | Income (expense) recorded due to transactions with related parties For the years ended December 31, 2017 2016 2015 Companies of the Group Associated Companies Key personnel Other Companies of the Group Associated companies Key personnel Other Companies of the Group Associated Companies Key personnel Other MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Income (expense) recorded Interest income and inflation-indexation adjustments (43,892) - 1,051 - (39,279) 40 1,164 115 (10,986) - 1,664 116 Fee and commission income and expenses 72,273 15,404 224 1 56,952 22,322 204 20 35,955 77 208 39 Net income (expense) from financial operations and net foreign exchange gain (loss) (*) 363,108 (48,453) (3) 19 (343,963) (48,373) (88) 2 (321,985) (16,845) 15 6 Other operating income and expenses 21,670 (1,454) - - 931 (2,239) - - 955 (1,027) - - Key personnel compensation and expenses - - (43,037) - - - (37,328) - - - (39,323) - Administrative and other expenses (48,246) (47,220) - - (35,554) (43,115) - - (30,591) (41,691) - - Total 364,913 (81,723) (41,765) 20 (360,913) (71,365) (36,048) 137 (326,652) (59,486) (37,436) 161 (*) Primarily relates to derivative contracts used to financially cover exchange risk of assets and liabilities that cover positions of the Bank and its subsidiaries. |
Schedule of payments to Board members and key management personnel | The compensation received by key management personnel, including Board members and all the executives holding manager positions shown in the “Personnel salaries and expenses” and/or “Administrative expenses” items of the Consolidated Statement of Income, corresponds to the following categories: For the years ended December 31, 2017 2016 2015 MCh$ MCh$ MCh$ Personnel compensation 16,863 17,493 18,605 Board members’ salaries and expenses 1,199 1,269 1,374 Bonuses or gratifications 16,057 14,404 12,861 Compensation in stock 1,923 331 66 Training expenses 68 161 122 Seniority compensation 3,842 2,619 4,154 Health funds 273 285 314 Other personnel expenses 773 916 1,396 Pension plans (*) 2,039 (150) 431 Total 43,037 37,328 39,323 |
Schedule of composition of key personnel | As of December 31, 2017, 2016 and 2015, the composition of the Bank’s key personnel is as follows: Position No. of executives As of December 31, 2017 2016 2015 Director 11 13 12 Division manager 13 17 16 Department manager 63 76 79 Manager 46 61 53 Total key personnel 133 167 160 |
PENSION PLANS (Tables)
PENSION PLANS (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Pension Plans | |
Schedule of actuarial hypothesis assumptions | The most significant actuarial hypotheses considered in the calculations were: Plans post-employment Plans post- employment 2017 2016 Mortality chart RV-2014 RV-2014/CB-2014 Termination of contract rates 5.0% 5.0% Impairment chart PDT 1985 PDT 1985 |
Schedule of post-employment benefits | Activity for post-employment benefits is as follows: As of December 31, 2017 2016 MCh$ MCh$ Plan assets 7,919 6,612 Commitments for defined-benefit plans For active personnel (6,998) (4,975) Incurred by inactive personnel - - Minus: Unrealized actuarial (gain) losses - - Balances at year end 921 1,637 |
Schedule of cash flow for post-employment benefits | Year’s cash flow for post-employment benefits is as follows: For the years ended December 31, 2017 2016 2015 MCh$ MCh$ MCh$ a) Fair value of plan assets Opening balance 6,612 6,945 6,495 Expected yield of insurance contracts 307 335 432 Employer contributions 1,931 886 18 Actuarial (gain) losses - - - Premiums paid - - - Benefits paid (931) (1,554) - Fair value of plan assets at year end 7,919 6,612 6,945 b) Present value of obligations Present value of obligations opening balance (4,975) (5,070) (4,639) Net incorporation of Group companies - - - Service cost (2,039) 150 (431) Interest cost - - - Curtailment/settlement effect - - - Benefits paid - - - Past service cost - - - Actuarial (gain) losses - - - Other 16 (55) - Present value of obligations at year end (6,998) (4,975) (5,070) Net balance at year end 921 1,637 1,875 |
Schedule of plan expected profit | Plan expected profit: As of December 31, 2017 2016 2015 Type of expected yield from the plan’s assets UF + 2.50% annual UF + 2.50% annual UF + 2.50% annual Type of yield expected from the reimbursement rights UF + 2.50% annual UF + 2.50% annual UF + 2.50% annual |
Schedule of plan associated expenses | Plan associated expenses: For the years ended December 31, 2017 2016 2015 MCh$ MCh$ MCh$ Current period service expenses 2,039 (150) 431 Interest cost - - - Expected yield from plan’s assets (307) (335) (432) Expected yield of insurance contracts linked to the Plan: Extraordinary allocations - - - Actuarial (gain)/ losses recorded in the period - - - Past service cost - - - Other - - - Total 1,732 (485) (1) |
FAIR VALUE OF FINANCIAL ASSET83
FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Fair Value Of Financial Assets And Liabilities | |
Schedule of financial assets and liabilities | Below is a comparison between the value at which the Bank’s financial assets and liabilities are recorded and their fair value as of December 31, 2017 and 2016: As of December 31, 2017 2016 Book value Fair value Book value Fair value MCh$ MCh$ MCh$ MCh$ Assets Trading investments 485,736 485,736 396,987 396,987 Financial derivative contracts 2,238,647 2,238,647 2,500,782 2,500,782 Loans and accounts receivable from customers and interbank loans, net 26,934,757 28,518,929 26,415,826 29,976,931 Available for sale investments 2,574,546 2,574,546 3,388,906 3,388,906 Guarantee deposits (margin accounts) 323,767 323,767 396,289 396,289 Liabilities Deposits and interbank borrowings 21,380,468 20,887,959 22,607,392 22,833,009 Financial derivative contracts 2,139,488 2,139,488 2,292,161 2,292,161 Issued debt instruments and other financial liabilities 7,335,683 7,487,591 7,566,388 8,180,322 Guarantees received (margin accounts) 408,313 408,313 480,926 480,926 |
Schedule of assets and liabilities on recurrent basis | The following table presents the assets and liabilities that are measured at fair value on a recurrent basis, as of December 31, 2017 and 2016: Fair value measurement As of December 31, 2017 Level 1 Level 2 Level 3 MCh$ MCh$ MCh$ MCh$ Assets Trading investments 485,736 481,642 4,094 - Available for sale investments 2,574,546 2,549,226 24,674 646 Derivatives 2,238,647 - 2,216,306 22,341 Guarantee deposits (margin accounts) 323,767 323,767 - - Total 5,622,696 3,354,635 2,245,074 22,987 Liabilities Derivatives 2,139,488 - 2,139,481 7 Guarantees received (margin accounts) 408,313 408,313 - - Total 2,547,801 408,313 2,139,481 7 Fair value measurement As of December 31, 2016 Level 1 Level 2 Level 3 MCh$ MCh$ MCh$ MCh$ Assets Trading investments 396,987 396,011 976 - Available for sale investments 3,388,906 2,471,439 916,808 659 Derivatives 2,500,782 - 2,461,407 39,375 Guarantee deposits (margin accounts) 396,289 396,289 - - Total 6,682,964 3,263,739 3,379,191 40,034 Liabilities Derivatives 2,292,161 - 2,292,118 43 Guarantees received (margin accounts) 480,926 480,926 - - Total 2,773,087 480,926 2,292,118 43 |
Schedule of assets or liabilities which are not measured at fair value | The following table presents assets or liabilities which are not measured at fair value in the statement of financial position but for which the fair value is disclosed, as of December 31, 2017 and 2016: Fair value measurement As of December 31, 2017 Level 1 Level 2 Level 3 MCh$ MCh$ MCh$ MCh$ Assets Loans and accounts receivable from customers and interbank loans, net 28,518,929 - - 28,518,929 Total 28,518,929 - - 28,518,929 Liabilities Deposits and interbank borrowings 20,887,959 - 20,887,959 - I ssued debt instruments and other financial liabilities 7,487,591 - 7,487,591 - Total 28,375,550 - 28,375,550 - Fair value measurement As of December 31, 2016 Level 1 Level 2 Level 3 MCh$ MCh$ MCh$ MCh$ Assets Loans and accounts receivable from customers and interbank loans, net 29,976,931 - - 29,976,931 Total 29,976,931 - - 29,976,931 Liabilities Deposits and interbank borrowings 22,833,009 - 22,833,009 - I ssued debt instruments and other financial liabilities 8,180,322 - 8,180,322 - Total 31,013,331 - 31,013,331 - |
Schedule of financial instruments classified as Level 3 | The table below shows the effect, at December 31, 2017 and 2016, on the fair value of the main financial instruments classified as Level 3 of a reasonable change in the assumptions used in the valuation. This effect was determined by a sensitivity analysis under a 1bp scenario, detailed in the following table: As of December 31, 2017 Instrument Level 3 Valuation technique Main unobservable inputs Impacts (in MCh$) Sens. -1bp Unfavorable scenario Impacts (in MCh$) Sens. +1bp Favorable scenario Derivatives Present Value method Curves on TAB indices (1) (1.3) 1.3 Available for sale investments Internal rate of return method BR UF (2) - - As of December 31, 2016 Instrument Level 3 Valuation technique Main unobservable inputs Impacts (in MCh$) Sens. -1bp Unfavorable scenario Impacts (in MCh$) Sens. +1bp Favorable scenario Derivatives Present Value method Curves on TAB indices (1) (12.30) 12.30 Available for sale investments Internal rate of return method BR UF (2) - - (1) TAB: “Tasa Activa Bancaria” (Active Bank Rate). Average interest rates on 30, 90, 180 and 360 day deposits published by the Chilean Association of Banks and Financial Institutions (ABIF) in nominal currency (Chilean peso) and in real terms, adjusted for inflation (in Chilean unit of account (Unidad de Fomento - UF)). (2) BR: “Bonos de Reconocimiento” (Recognition Bonds). The Recognition Bond is an instrument of money provided by the State of Chile to workers who joined the new pension system, which began operating since 1981. |
Schedule of assets and liabilities measured at fair value on a recurrent basis using unobserved significant entries (Level 3) | The following table presents the Bank’s activity for assets and liabilities measured at fair value on a recurrent basis using unobserved significant inputs (Level 3) as of December 31, 2017 and 2016: Assets Liabilities MCh$ MCh$ As of January 1, 2017 (79,181) 43 Total realized and unrealized profits (losses) Included in statement of income (17,035) (36) Included in other comprehensive income (12) - Purchases, issuances, and loans (net) - - As of December 31, 2017 62,134 7 Total profits or losses included in comprehensive income for 2017 that are attributable to change in unrealized profit (losses) related to assets or liabilities as of December 31, 2016 (17,047) (36) Assets Liabilities MCh$ MCh$ As of January 1, 2016 39,913 - Total realized and unrealized profits (losses) Included in statement of income 39,376 43 Included in other comprehensive income (108) - Purchases, issuances, and loans (net) - - As of December 31, 2016 79,181 43 Total profits or losses included in comprehensive income for 2016 that are attributable to change in unrealized profit (losses) related to assets or liabilities as of December 31, 2015 39,268 43 |
Schedule of financial instruments subject to compensation | The following tables show the financial instruments subject to compensation in accordance with IAS 32, for 2017 and 2016: As of December 2017 Linked financial instruments, compensated in balance Financial instruments Gross amounts Compensated in balance Net amount presented in balance Remains of unrelated and / or unencumbered financial instruments Amount in Statements of Financial Position Assets Ch$ Million Ch$ Million Ch$ Million Ch$ Million Financial derivative contracts 2,029,657 - 2,029,657 208,990 2,238,647 Investments under resale agreements - - - - - Loans and accounts receivable from customers, and Interbank loans, net - - - 26,934,757 26,934,757 Total 2,029,657 - 2,029,657 27,143,747 29,173,404 Liabilities Financial derivative contracts 1,927,654 - 1,927,654 211,834 2,139,488 Investments under resale agreements 268,061 - 268,061 - 268,061 Déposits and interbank borrowings - - - 21,380,467 21,380,467 Total 2,195,715 - 2,195,715 21,592,301 23,788,016 As of December 2016 Linked financial instruments, compensated in balance Financial instruments Gross amounts Compensated in balance Net amount presented in balance Remains of unrelated and / or unencumbered financial instruments Amount in Statements of Financial Position Assets Ch$ Million Ch$ Million Ch$ Million Ch$ Million Financial derivative contracts 2,237,731 - 2,237,731 263,051 2,500,782 Obligations under repurchase agreements 6,736 - 6,736 - 6,736 Loans and accounts receivable from customers, and Interbank loans, net - - - 26,415,826 26,415,826 Total 2,244,467 - 2,244,467 26,678,877 28,923,344 Liabilities Financial derivative contracts 2,100,955 - 2,100,955 191,206 2,292,161 Investments under resale agreements 212,437 - 212,437 - 212,437 Deposits and interbank borrowings - - - 22,607,392 22,607,392 Total 2,313,392 - 2,313,392 22,798,598 25,111,990 |
Schedule of credit exposure in its financial derivative operations | The Bank, in order to reduce its credit exposure in its financial derivative operations, has entered into collateral contracts with its counterparties, in which it establishes the terms and conditions under which they operate. In terms collateral (received/delivered) operates when the net of the fair value of the financial instruments held exceed the thresholds defined in the respective contracts. As of December 31, 2017 As of December 31, 2016 Financial derivative contracts Assets Liability Asset Liability MM$ MM$ MM$ MM$ Financial derivative contracts with collateral agreement threshold equal to zero 1,898,220 1,773,471 2,134,917 1,986,345 Financial derivative contracts with non-zero threshold collateral agreement 221,030 316,840 233,945 238,450 Financial derivative contracts without collateral agreement 119,397 49,177 131,920 67,366 Total 2,238,647 2,139,488 2,500,782 2,292,161 |
RISK MANAGEMENT (Tables)
RISK MANAGEMENT (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure of nature and extent of risks arising from financial instruments [line items] | |
Schedule of quality assets and its related provision | The following table shows quality assets and its related provision, based on our internal scoring policy as of December 31, 2017 and 2016: As of December 31, Category 2017 2016 Commercial Portfolio Individual Percentage Allowance Percentage Individual Percentage Allowance Percentage MCh$ % MCh$ % MCh$ % MCh$ % A1 1,051,072 3.79% 827 0.10% 1,599,311 5.88% 923 0.12% A2 5,957,305 21.49% 18,514 2.34% 6,437,930 23.67% 23,757 3.00% A3 2,176,779 7.85% 27,894 3.53% 2,030,867 7.46% 29,668 3.75% B 539,074 1.94% 32,089 4.06% 538,909 1.98% 40,545 5.13% C1 145,033 0.52% 2,604 0.33% 121,893 0.45% 2,176 0.28% C2 56,871 0.21% 5,104 0.65% 51,034 0.19% 4,555 0.58% C3 39,825 0.14% 8,935 1.13% 49,901 0.18% 11,136 1.41% C4 53,261 0.19% 19,120 2.42% 64,118 0.24% 22,894 2.90% D1 71,896 0.26% 41,941 5.30% 73,462 0.27% 42,625 5.39% D2 77,048 0.28% 62,234 7.87% 89,857 0.33% 72,192 9.13% Subtotal 10,168,164 36.67% 219,262 27.73% 11,057,282 40.65% 250,471 31.69% Group Percentage Allowance Percentage Group Percentage Allowance Percentage MCh$ % MCh$ % MCh$ % MCh$ % Commercial Normal portfolio 3,488,633 12.58% 58,728 7.42% 2,741,858 10.08% 58,453 7.39% Impaired portfolio 414,530 1.50% 160,345 20.27% 341,132 1.25% 124,653 15.76% Subtotal 3,903,163 14.08% 219,073 27.69% 3,082,990 11.33% 183,106 23.15% Mortgage Normal portfolio 8,634,351 31.14% 20,174 2.55% 8,221,666 30.22% 23,699 3.00% Impaired portfolio 462,544 1.67% 48,892 6.17% 397,688 1.46% 33,310 4.21% Subtotal 9,096,895 32.81% 69,066 8.72% 8,619,354 31.68% 57,009 7.21% Consumer Normal portfolio 4,230,567 15.26% 114,099 14.42% 4,158,221 15.28% 147,979 18.72% Impaired portfolio 327,125 1.18% 169,657 21.44% 288,584 1.06% 152,040 19.23% Subtotal 4,557,692 16.44% 283,756 35.86% 4,446,805 16.34% 300,019 37.95% Total 27,725,914 100.00% 791,157 100.00% 27,206,431 100.00% 790,605 100.00% |
Schedule of financial assets and off-balance sheet commitments | For financial assets recognised in the Consolidated Statement of Financial Position, maximum credit risk exposure equals their carrying value. Below is the distribution by financial asset and off-balance sheet commitments of the Bank’s maximum exposure to credit risk as of December 31, 2017 and 2016, without deduction of collateral, security interests or credit improvements received: As of December 31, 2017 2016 Amount of exposure Amount of exposure Note MCh$ MCh$ Deposits in banks 4 839,561 1,709,071 Cash items in process of collection 4 668,145 495,283 Trading investments 5 485,736 396,987 Investments under resale agreements 6 - 6,736 Financial derivative contracts 7 2,238,647 2,500,782 Loans and accounts receivable from customers and interbank loans, net 8 and 9 26,934,757 26,415,826 Available for sale investments 10 2,574,546 3,388,906 Off-balance commitments: Letters of credit issued 201,699 158,800 Foreign letters of credit confirmed 75,499 57,686 Guarantees 1,823,793 1,752,610 Available credit lines 8,135,489 7,548,820 Personal guarantees 81,577 125,050 Other irrevocable credit commitments 260,691 260,266 Total 44,320,140 44,816,823 |
Schedule of fair value of derivative instruments | Below we detail as of December 31, 2017, considering fair value of derivative instruments. Country Classification Derivative Instruments (adjusted to market) USD MCh$ Deposits USD MCh$ Loans USD MCh$ Financial investments USD MCh$ Total Exposure USD MCh$ Bolivia 3 0.00 0.00 0.06 0.00 0.06 China 2 0.00 0.00 243.95 0.00 243.95 Italy 2 0.00 2.38 0.78 0.00 3.16 México 2 0.00 0.01 0.00 0.00 0.01 Panamá 2 0.63 0.00 0.00 0.00 0.63 Perú 2 3.38 0.00 0.00 0.00 3.38 Thailand 2 0.00 0.00 0.31 0.00 0.31 Turkey 3 0.00 0.00 9.49 0.00 9.49 Total 4.01 2.39 254.59 0.00 260.99 Our exposure to Spain within the group is as follows: Counterpart Country Classification Derivative instruments (market adjusted) MUSD Deposits MUSD Loans MUSD Financial Investments MUSD Exposure Exposure MUSD Banco Santander España (*) Spain 1 9.74 118.26 - - 128.00 |
Schedule of security interests, collateral, or credit improvements | Below is the detail of security interests, collateral, or credit improvements provided to the Bank as of December 31, 2017 and 2016. As of December 31, 2017 2016 MCh$ MCh$ Non-impaired financial assets: Properties/mortgages 19,508,151 17,560,550 Investments and others 2,108,962 2,326,396 Impaired financial assets: Properties/ mortgages 152,252 186,297 Investments and others 1,087 2,064 Total 21,770,452 20,075,307 |
Schedule of liquidity portfolio | The management of the Bank’s liquidity portfolio is performed by the Financial Management Division under rules determined by the ALCO. As of December 31, 2017 2016 MCh$ MCh$ Financial investments for trading 485,736 396,987 Available for sale investments 2,574,546 3,388,906 Encumbered assets (net) (1) (268,330) (205,703) Net cash (2) (37,628) 16,259 Net Interbank deposits (3) 768,595 1,335,017 Total liquidity portfolio 3,522,919 4,931,466 (1) Assets encumbered through repurchase agreements are deducted from the liquidity portfolio. (2) Cash minus reserve requirements. As is presented in Note 4 the reserve requirements are established by the monthly average reserves that the Bank must maintain in accordance with regulation governing minimum reserves. (3) Includes overnight deposits in Central Bank, domestic banks and foreign banks. |
Schedule of exposure to liquidity risk | The following table displays the actual derived percentages as calculated per above: As of December 31, 2017 % 2016 % 30 days (48.00) (15.00) 30 days foreign currency (22.00) 21.00 90 days (51.00) (37.00) |
Schedule of breakdown by maturity | Below, is the breakdown by maturity, of the liability balances of the Bank as of December 31, 2017 and 2016: Demand Up to 1 month Between 1 and 3 months Between 3 and 12 months Subtotal up to 1 year Between 1 and 3 years Between 3 and 5 years More than 5 years Subtotal after 1 year Total As of December 31, 2017 MM$ MM$ MM$ MM$ MM$ MM$ MM$ MM$ MM$ MM$ Obligations under repurchase agreements - 268,061 - - 268,061 - - - - 268,061 Checking accounts, time deposits and other time liabilities 8,376,371 5,120,171 4,201,271 2,299,018 19,996,831 106,833 2,811 62,362 172,006 20,168,837 Financial derivatives contracts - 144,410 196,444 356,288 697,142 378,582 358,358 705.406 1,442,346 2,139,488 Interbank borrowings 4,130 46,013 397,419 1,030,241 1,477,803 220,554 - - 220,554 1,698,357 Issue debt instruments - 21,043 55,119 274,239 350,401 1,727,571 2,104,771 2,910,910 6,743,252 7,093,653 Other financial liabilities 177,663 701 2,583 31,879 212,826 27,581 404 1,219 29,204 242,030 Subtotal 8,558,164 5,600,399 4,852,836 3,991,665 23,003,064 2,461,121 2,466,344 3,679,897 8,607,362 31,610,426 Contractual interest payments 4,403 45,465 117,779 462,579 630,226 808,502 776,796 1,147,553 2,732,851 3,363,077 Total 8,562,567 5,645,864 4,970,615 4,454,244 23,633,290 3,269,623 3,243,140 4,827,450 11,340,213 34,973,503 As of December 31, 2017, the scheduled maturities of other commercial commitments, including accrued interest, were as follows: Other Commercial Commitments Up to 1 month Between 1 and 3 months Between 3 and 12 months Between 1 and 5 years More than 5 years Total (in millions of Ch$) Guarantees 514,510 244,543 835,030 208,479 21,231 1,823,793 Confirmed foreign letters of credit 16,681 33,513 21,277 4,028 - 75,499 Letters of credit issued 12,367 115,720 43,029 30,554 29 201,699 Pledges and other commercial commitments 16,028 13,382 47,288 4,880 - 81,578 Total other commercial commitments 559,586 407,158 946,624 247,941 21,260 2,182,569 Demand Up to 1 month Between 1 and 3 months Between 3 and 12 months Subtotal up to 1 year Between 1 and 3 years Between 3 and 5 years More than 5 years Subtotal after 1 year Total As of December 31, 2016 MM$ MM$ MM$ MM$ MM$ MM$ MM$ MM$ MM$ MM$ Obligations under repurchase agreements - 212,437 - - 212,437 - - - - 212,437 Checking accounts, time deposits and other time liabilities 7,949,315 6,105,767 4,193,906 2,537,299 20,786,287 118,101 13,913 61,196 193,210 20,979,497 Financial derivatives contracts - 92,335 122,565 263,893 478,793 494,539 346,948 971,881 1,813,368 2,292,161 Interbank borrowings 4,557 373,423 115,769 1,154,063 1,647,812 233,542 35,014 - 268,556 1,916,368 Issue debt instruments - 43,141 185,425 922,705 1,151,271 1,168,117 1,444,593 3,562,391 6,175,101 7,326,372 Other financial liabilities 153,049 1,461 1,161 2,817 158,488 58,641 7,766 15,121 81,528 240,016 Subtotal 8,106,921 6,828,564 4,618,826 4,880,777 24,435,088 2,072,940 1,848,234 4,610,589 8,531,763 32,966,851 Contractual interest payments 2,273 56,121 170,861 537,941 767,196 1,762,884 - 987,370 2,750,254 3,517,450 Total 8,109,194 6,884,685 4,789,687 5,418,718 25,202,284 3,835,824 1,848,234 5,597,959 11,282,017 36,484,301 As of December 31, 2016, the scheduled maturities of other commercial commitments, including accrued interest, were as follows: Other Commercial Commitments Up to 1 month Between 1 and 3 months Between 3 and 12 months Between 1 and 5 years More than 5 years Total (in millions of Ch$) Guarantees 79,457 175,437 739,170 592,017 151,435 1,737,516 Confirmed foreign letters of credit 12,247 8,125 8,505 28,809 - 57,686 Letters of credit issued 36,662 82,342 39,768 27 - 158,799 Pledges and other commercial commitments 9,916 11,591 39,811 63,731 - 125,049 Total other commercial commitments 138,282 277,495 827,254 684,584 151,435 2,079,050 |
Schedule of high, low and average levels | High, low and average levels for each component and year were as follows: VaR 2017 USDMM 2016 USDMM Consolidated: High 5.71 3.95 Low 1.56 1.08 Average 3.01 2.25 Fixed-income investments: High 5.51 2.71 Low 1.15 0.55 Average 2.36 1.33 Variable-income investments High 0.01 0.03 Low 0.00 0.00 Average 0.00 0.00 Foreign currency investments High 4.21 3.83 Low 0.53 0.61 Average 1.71 1.91 |
Schedule of market risk | Market risk – Financial management portfolio – December 31, 2017 and 2016 2017 2016 Effect on financial income Effect on capital Effect on financial income Effect on capital Financial management portfolio – local currency (MCh$) Loss limit 48,000 175,000 48,000 175,000 High (37,148) (141,287) 30,853 146,208 Low (22,958) (112,818) 21,978 108,249 Average (29,110) (128,506) 26,119 120,159 Financial management portfolio – foreign currency (Th$US) Loss limit 30 75 30 75 High 16 42 14 35 Low 4 15 6 13 Average 10 23 10 26 Financial management portfolio – consolidated (in MCh$) Loss limit 48,000 175,000 48,000 175,000 High (38,249) (142,442) 31,764 145,566 Low (23,571) (112,277) 23,088 107,959 Average (29,948) (128,360) 27,390 119,632 |
Schedule of levels of basic capital and effective net equity | The levels of basic capital and effective net equity at the close of each period are as follows: Ratio As of December 31, As of December 31, 2017 2016 2017 2016 MCh$ MCh$ % % Basic capital 3,066,180 2,868,706 7.92 7.22 Regulatory capital 3,881,252 3,657,707 13.91 13.43 |
Consumer Loans [Member] | |
Disclosure of nature and extent of risks arising from financial instruments [line items] | |
Schedule of provision matrix | Santander: Bank Loan type Allowance Level(1) (Loss rate) Performing New clients Existing clients Banefe (3) 0.53% -19.75% 0.05%-11.92% 0.13%-18.67% Renegotiated consumer loans which were less than 90 days past due at the time of renegotiation (2) 3.66%-30.40% 10.19%-43.71% Consumer Renegotiated consumer loans which were more than 90 days past due at the time of renegotiation (2) 41.50%-100% 51,11%-100% Days Past Due New Clients Existing Clients Previously Renegotiated Bank Previously Renegotiated Banefe (3) 90-120 31.78% 31.78% 41.50% 51.11% Non-performing 120-150 51.17% 51.17% 60.15% 66.65% 150-180 59.98% 59.98% 68.86% 78.50% >180 Charged-off __________________ 1. Percentage of loans outstanding 2. This category relates only to loans which were renegotiated and were less than 90 days past due at the time of renegotiation, migrating from such category as they reached 90 days past due since renegotiation. |
Commerical Loans [Member] | |
Disclosure of nature and extent of risks arising from financial instruments [line items] | |
Schedule of provision matrix | Loan type Allowance Level(1) (Loss rate) Commercial loans analyzed on a group basis Performing Commercial loan to individuals w/o mortgage collateral Commercial loan to individuals with mortgage collateral Small Enterprise Mid-sized Enterprise 0.87% -15.70% 0.03%-3.98% 0.21%-14.39% 0.14%-7.31 Renegotiated commercial loans which were less than 90 days past due at the time of renegotiation (2) loan w/o mortgage collateral 2.93%-20.65% loan with mortgage collateral 1.17%-8.25% Renegotiated commercial loans which were more than 90 days past due at the time of renegotiation (2) Days Past Due when renegotiated Commercial loan to individuals w/o mortgage collateral Commercial loan to individuals with mortgage collateral Small Enterprise Mid-sized Enterprise 90-179 41.69% 12.15% 30.95% 18.93% 180-359 67.31% 23.42% 64.47% 51.86% 360-719 75.69% 34.65% 70.15% 63.12% >720 83.82% 46.25% 74.53% 72.87% Non-performing consumer Days Past Due Commercial loan to individuals w/o mortgage collateral Commercial loan to individuals with mortgage collateral Small Enterprise Mid-sized Enterprise Previously renegotiated 90-179 41.69% 12.15% 30.95% 18.93% 18.93% 180-359 67.31% 23.42% 64.47% 51.86% 51.86% 360-719 75.69% 34.65% 70.15% 63.12% 63.12% >720 83.82% 46.25% 74.53% 72.87% 72.87% __________________ (1) Percentage of loans outstanding (2) This category relates only to loans which were renegotiated and were less than 90 days past due at the time of renegotiation, migrating from such category as they reached 90 days past due since renegotiation. |
Residential Mortgage Loans [Member] | |
Disclosure of nature and extent of risks arising from financial instruments [line items] | |
Schedule of provision matrix | Bank Loan type Allowance Level(1) (Loss rate) Residential mortgage Performing Bank (excl Select) Santander Select 0.00%-5.18% 0.00%-3.88% Renegotiated mortgage loans which were less than 90 days past due at the time of renegotiation (2) 0.16%-8.37% Renegotiated mortgage loans which were more than 90 days past due at the time of renegotiation (2) 5.58%-26.25% Non-performing mortgage Loan to Value 0-60 5.58% 60-80 8.48% 80-90 11.93% >90 16.25% __________________ 1. Percentage of loans outstanding 2. This category relates only to loans which were renegotiated and were less than 90 days past due at the time of renegotiation, migrating from such category as they reached 90 days past due since renegotiation. |
SUMMARY OF SIGNIFICANT ACCOUN85
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Santander Corredora de Seguros Limitada [Member] | ||||
Disclosure of subsidiaries [line items] | ||||
Name of the Subsidiary | Santander Corredora de Seguros Limitada | |||
Main Activity | Insurance brokerage | |||
Country | Santiago, Chile | |||
Direct interest Owned | 99.75% | 99.75% | 99.75% | |
indirect interest Owned | 0.01% | 0.01% | 0.01% | |
Total interest Owned | 99.76% | 99.76% | 99.76% | |
Santander Corredores de Bolsa Limitada [Member] | ||||
Disclosure of subsidiaries [line items] | ||||
Name of the Subsidiary | [1] | Santander Corredores de Bolsa Limitada | ||
Main Activity | [1] | Financial instruments brokerage | ||
Country | [1] | Santiago, Chile | ||
Direct interest Owned | [1] | 50.59% | 50.59% | 50.59% |
indirect interest Owned | [1] | 0.41% | 0.41% | 0.41% |
Total interest Owned | [1] | 51.00% | 51.00% | 51.00% |
Santander Agente de Valores Limitada [Member] | ||||
Disclosure of subsidiaries [line items] | ||||
Name of the Subsidiary | Santander Agente de Valores Limitada | |||
Main Activity | Securities brokerage | |||
Country | Santiago, Chile | |||
Direct interest Owned | 99.03% | 99.03% | 99.03% | |
indirect interest Owned | ||||
Total interest Owned | 99.03% | 99.03% | 99.03% | |
Santander S.A. Sociedad Securitizadora [Member] | ||||
Disclosure of subsidiaries [line items] | ||||
Name of the Subsidiary | Santander S.A. Sociedad Securitizadora | |||
Main Activity | Purchase of credits and issuance of debt instruments | |||
Country | Santiago, Chile | |||
Direct interest Owned | 99.64% | 99.64% | 99.64% | |
indirect interest Owned | ||||
Total interest Owned | 99.64% | 99.64% | 99.64% | |
[1] | On June 19, 2015, Santander Corredores de Bolsa Limitada, our stock broker company has changed its corporate structure to limited liability company. This situation was informed to SVS through an "essential fact" in accordance with the Law 18.045 articles 9 and 10, and General Regulation (NCG) N 16 and N 30. |
SUMMARY OF SIGNIFICANT ACCOUN86
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 1) | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Redbanc S.A. [Member] | ||||
Disclosure of associates [line items] | ||||
Associates | Redbanc S.A. | |||
Main activity | ATM services | |||
Place of incorporation and operation | Santiago, Chile | |||
Percentage of ownership share | 33.43% | 33.43% | 33.43% | |
Transbank S.A. [Member] | ||||
Disclosure of associates [line items] | ||||
Associates | Transbank S.A. | |||
Main activity | Debit and credit card services | |||
Place of incorporation and operation | Santiago, Chile | |||
Percentage of ownership share | 25.00% | 25.00% | 25.00% | |
Centro de Compensacion Automatizado [Member] | ||||
Disclosure of associates [line items] | ||||
Associates | Centro de Compensación Automatizado | |||
Main activity | Electronic fund transfer and compensation services | |||
Place of incorporation and operation | Santiago, Chile | |||
Percentage of ownership share | 33.33% | 33.33% | 33.33% | |
Sociedad interbancaria de Deposito de Valores S.A. [Member] | ||||
Disclosure of associates [line items] | ||||
Associates | Sociedad Interbancaria de Depósito de Valores S.A. | |||
Main activity | Delivery of securities on public offer | |||
Place of incorporation and operation | Santiago, Chile | |||
Percentage of ownership share | 29.29% | 29.29% | 29.29% | |
Camara Compensacion de Alto Valor S.A. [Member] | ||||
Disclosure of associates [line items] | ||||
Associates | Cámara Compensación de Alto Valor S.A | |||
Main activity | Payments clearing | |||
Place of incorporation and operation | Santiago, Chile | |||
Percentage of ownership share | [1],[2],[3],[4] | 15.00% | 14.93% | 14.23% |
Administrador Financiero del Transantiago S.A. [Member] | ||||
Disclosure of associates [line items] | ||||
Associates | Administrador Financiero del Transantiago S.A. | |||
Main activity | Administration of boarding passes to public transportation | |||
Place of incorporation and operation | Santiago, Chile | |||
Percentage of ownership share | 20.00% | 20.00% | 20.00% | |
Sociedad Nexus S.A. [Member] | ||||
Disclosure of associates [line items] | ||||
Associates | Sociedad Nexus S.A. | |||
Main activity | Credit card processor | |||
Place of incorporation and operation | Santiago, Chile | |||
Percentage of ownership share | 12.90% | 12.90% | 12.90% | |
Servicios de infraestructura de Mercado OTC S.A. [Member] | ||||
Disclosure of associates [line items] | ||||
Associates | Servicios de Infraestructura de Mercado OTC S.A. | |||
Main activity | Administration of the infrastructure for the financial market of derivative instruments | |||
Place of incorporation and operation | Santiago, Chile | |||
Percentage of ownership share | [1],[2] | 12.07% | 12.07% | 11.11% |
[1] | During the last quarter of 2016, Banco Penta ceded to Banco Santander a portion of its interest in the companies "Sociedad Operadora de la Camara de Compensacion de pagos de Alto Valor SA" and "Servicios de Market Infrastructure OTC SA ", the Bank's share in those companies increased to 14.93% and 12.07% respectively. | |||
[2] | During the third quarter of 2016, Banco Penta ceded to Banco Santander a portion of its interest in the companies "Sociedad Operadora de la Camara de Compensacion de pagos de Alto Valor SA" and "Servicios de Market Infrastructure OTC SA ", the Bank's share in those companies increased to 14.84% and 11.93% respectively. | |||
[3] | In February 2017, Banco Paris sold to Banco Santander a portion of its interest in the companies "Sociedad Operadora de la Camara de Compensacion de pagos de Alto Valor SA", the Bank's share increased to 15.00%. | |||
[4] | In October 2015, HSBC Bank Chile sold its ownership share in Camara de Compensacion de Pagos de Alto Valor S.A. to Banco Santander Chile, increasing our participation to 14.23%. |
SUMMARY OF SIGNIFICANT ACCOUN87
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 2) | 12 Months Ended |
Dec. 31, 2017 | |
Land [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Useful life | - |
Paintings and Works Of Art [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Useful life | - |
Carpets and Curtains [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Useful life | P36M |
Computer equipment [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Useful life | P36M |
Vehicles [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Useful life | P36M |
IT Systems and Software [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Useful life | P36M |
ATMs [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Useful life | P60M |
Other [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Useful life | P60M |
Fixtures and fittings [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Useful life | P60M |
Telephone And Communication Systems [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Useful life | P60M |
Security Systems [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Useful life | P60M |
Rights Over Telephone Lines [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Useful life | P60M |
Air Conditioning Systems [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Useful life | P84M |
Other installations [Member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Useful life | P120M |
Buildings [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Useful life | P1200M |
SUMMARY OF SIGNIFICANT ACCOUN88
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 3) | 12 Months Ended |
Dec. 31, 2017 | |
Consumer Loans With Or Without Collateral [Member] | |
Disclosure of financial assets [line items] | |
Term | 6 months |
Other Transactions Without Collateral [Member] | |
Disclosure of financial assets [line items] | |
Term | 24 months |
Commercial Loans With Collateral [Member] | |
Disclosure of financial assets [line items] | |
Term | 36 months |
Mortgage loans [Member] | |
Disclosure of financial assets [line items] | |
Term | 48 months |
Consumer Leasing [Member] | |
Disclosure of financial assets [line items] | |
Term | 6 months |
Other Non-Mortgage Leasing Transactions [Member] | |
Disclosure of financial assets [line items] | |
Term | 12 months |
Mortgage Leasing (Household And Business) [Member] | |
Disclosure of financial assets [line items] | |
Term | 36 months |
SUMMARY OF SIGNIFICANT ACCOUN89
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) $ in Millions | Apr. 21, 2016CLP ($) | Oct. 31, 2015 | Dec. 31, 2017CLP ($)Segment | Dec. 31, 2016Segment | Sep. 30, 2016 |
Disclosure of associates [line items] | |||||
Foreign exchange rate | Segment | 616.85 | 666 | |||
Foreign exchange inflation rate | 2.30% | 2.70% | |||
Credit valuation adjustment | $ 8,142 | ||||
Debit valuation adjustment | $ 15,406 | ||||
Minimum mandatory dividends distributed | 30.00% | 30.00% | |||
USD | |||||
Disclosure of associates [line items] | |||||
Foreign exchange rate | Segment | 1 | 1 | |||
Unidad de Fomento (funds code) [Member] | |||||
Disclosure of associates [line items] | |||||
Foreign exchange rate | Segment | 26,798 | 26,347.98 | |||
Sociedad Operadora de la Camara de Compensacion de pagos de Alto Valor S.A. [Member] | |||||
Disclosure of associates [line items] | |||||
Increase (decrease) in bank shares percenatge | 15.00% | 14.93% | 14.84% | ||
Servicios de infraestructura de Mercado OTC S.A. [Member] | |||||
Disclosure of associates [line items] | |||||
Increase (decrease) in bank shares percenatge | 12.07% | 11.93% | |||
Transbank S.A. [Member] | |||||
Disclosure of associates [line items] | |||||
Proportion of ownership interest in subsidiary | 25.00% | ||||
Payments of shares | $ 4,000 | ||||
Subscribed and paid shares | $ 1,000 | ||||
Camara Compensacion de Alto Valor S.A. [Member] | |||||
Disclosure of associates [line items] | |||||
Proportion of ownership interest in subsidiary | 14.23% | ||||
Banco Santander Spain [Member] | Banco Santander-Chile [Member] | |||||
Disclosure of associates [line items] | |||||
Proportion of ownership interest in subsidiary | 99.50% | ||||
Banco Santander Spain [Member] | Teatinos Siglo XXi inversiones Ltda [Member] | |||||
Disclosure of associates [line items] | |||||
Proportion of ownership interest in subsidiary | 100.00% | ||||
Banco Santander Spain [Member] | Santander-Chile Bank [Member] | |||||
Disclosure of associates [line items] | |||||
Proportion of ownership interest in subsidiary | 67.18% |
SIGNIFICANT EVENTS (Details)
SIGNIFICANT EVENTS (Details) $ in Millions, $ in Millions, $ in Millions | 12 Months Ended | |||
Dec. 31, 2017CLP ($) | Dec. 31, 2017USD ($) | Dec. 31, 2017AUD ($) | Dec. 31, 2016CLP ($) | |
Disclosure of financial liabilities [line items] | ||||
Notional amount | $ 177,224,139 | $ 177,941,295 | ||
Bonds [Member] | USD | DN 1 [Member] | ||||
Disclosure of financial liabilities [line items] | ||||
Currency | USD | |||
Notional amount | $ 100 | |||
Term (annual) | P3Y | |||
Issuance rate (annual) | 0.80% | 0.80% | 0.80% | |
Description of Issuance rate (annual) | Libor-USD 3M+0,80% | |||
Issue date | Jul. 20, 2017 | |||
Maturity date | Jul. 27, 2020 | |||
Bonds [Member] | USD | DN 2 [Member] | ||||
Disclosure of financial liabilities [line items] | ||||
Currency | USD | |||
Notional amount | $ 50 | |||
Term (annual) | P3Y | |||
Issuance rate (annual) | 0.80% | 0.80% | 0.80% | |
Description of Issuance rate (annual) | Libor-USD 3M+0,80% | |||
Issue date | Jul. 21, 2017 | |||
Maturity date | Jul. 27, 2020 | |||
Bonds [Member] | USD | DN 3 [Member] | ||||
Disclosure of financial liabilities [line items] | ||||
Currency | USD | |||
Notional amount | $ 50 | |||
Term (annual) | P3Y | |||
Issuance rate (annual) | 0.80% | 0.80% | 0.80% | |
Description of Issuance rate (annual) | Libor-USD 3M+0,80% | |||
Issue date | Jul. 24, 2017 | |||
Maturity date | Jul. 27, 2020 | |||
Bonds [Member] | USD | DN 4 [Member] | ||||
Disclosure of financial liabilities [line items] | ||||
Currency | USD | |||
Notional amount | $ 10 | |||
Term (annual) | P4Y | |||
Issuance rate (annual) | 0.83% | 0.83% | 0.83% | |
Description of Issuance rate (annual) | Libor-USD 3M+0,83% | |||
Issue date | Aug. 23, 2017 | |||
Maturity date | Nov. 23, 2020 | |||
Bonds [Member] | USD | DN 5 [Member] | ||||
Disclosure of financial liabilities [line items] | ||||
Currency | USD | |||
Notional amount | $ 10 | |||
Term (annual) | P4Y | |||
Issuance rate (annual) | 0.83% | 0.83% | 0.83% | |
Description of Issuance rate (annual) | Libor-USD 3M+0,83% | |||
Issue date | Aug. 23, 2017 | |||
Maturity date | Nov. 23, 2020 | |||
Bonds [Member] | USD | DN 6 [Member] | ||||
Disclosure of financial liabilities [line items] | ||||
Currency | USD | |||
Notional amount | $ 50 | |||
Term (annual) | P3Y | |||
Issuance rate (annual) | 0.75% | 0.75% | 0.75% | |
Description of Issuance rate (annual) | Libor-USD 3M+0,75% | |||
Issue date | Sep. 14, 2017 | |||
Maturity date | Sep. 15, 2020 | |||
Bonds [Member] | USD | DN 7 [Member] | ||||
Disclosure of financial liabilities [line items] | ||||
Currency | USD | |||
Notional amount | $ 500 | |||
Term (annual) | P3Y | |||
Issuance rate (annual) | 2.50% | 2.50% | 2.50% | |
Description of Issuance rate (annual) | 2,50% | |||
Issue date | Dec. 12, 2017 | |||
Maturity date | Dec. 15, 2020 | |||
Bonds [Member] | USD | DN [Member] | ||||
Disclosure of financial liabilities [line items] | ||||
Currency | USD | |||
Notional amount | $ 770 | |||
Bonds [Member] | AUD | AUD 1 [Member] | ||||
Disclosure of financial liabilities [line items] | ||||
Currency | ||||
Notional amount | $ 30 | |||
Term (annual) | P10Y | |||
Issuance rate (annual) | 3.96% | 3.96% | 3.96% | |
Description of Issuance rate (annual) | 3,96% | |||
Issue date | Dec. 5, 2017 | |||
Maturity date | Dec. 12, 2027 | |||
Bonds [Member] | AUD | AUD [Member] | ||||
Disclosure of financial liabilities [line items] | ||||
Currency | ||||
Notional amount | $ 30 |
SIGNIFICANT EVENTS (Details 1)
SIGNIFICANT EVENTS (Details 1) - 12 months ended Dec. 31, 2017 - Bonds [Member] $ in Millions, $ in Millions, in Millions | CLP ($) | USD ($) | CLF ( ) |
Senior Bond 1 [Member] | USD | |||
Disclosure of financial liabilities [line items] | |||
Date | Mar. 6, 2017 | ||
Amount | $ | $ 6,900,000 | ||
Senior Bond 2 [Member] | Unidad de Fomento (funds code) [Member] | |||
Disclosure of financial liabilities [line items] | |||
Date | May 12, 2017 | ||
Amount | 1,000,000 | ||
Senior Bond 3 [Member] | Unidad de Fomento (funds code) [Member] | |||
Disclosure of financial liabilities [line items] | |||
Date | May 16, 2017 | ||
Amount | 690,000 | ||
Senior Bond 4 [Member] | Unidad de Fomento (funds code) [Member] | |||
Disclosure of financial liabilities [line items] | |||
Date | May 17, 2017 | ||
Amount | 15,000 | ||
Senior Bond 5 [Member] | Unidad de Fomento (funds code) [Member] | |||
Disclosure of financial liabilities [line items] | |||
Date | May 26, 2017 | ||
Amount | 340,000 | ||
Senior Bond 6 [Member] | Unidad de Fomento (funds code) [Member] | |||
Disclosure of financial liabilities [line items] | |||
Date | Jun. 1, 2017 | ||
Amount | 590,000 | ||
Senior Bond 7 [Member] | Unidad de Fomento (funds code) [Member] | |||
Disclosure of financial liabilities [line items] | |||
Date | Jun. 2, 2017 | ||
Amount | 300,000 | ||
Senior Bond 8 [Member] | Unidad de Fomento (funds code) [Member] | |||
Disclosure of financial liabilities [line items] | |||
Date | Jun. 5, 2017 | ||
Amount | 130,000 | ||
Senior Bond 9 [Member] | Unidad de Fomento (funds code) [Member] | |||
Disclosure of financial liabilities [line items] | |||
Date | Jun. 19, 2017 | ||
Amount | 265,000 | ||
Senior Bond 10 [Member] | Unidad de Fomento (funds code) [Member] | |||
Disclosure of financial liabilities [line items] | |||
Date | Jul. 10, 2017 | ||
Amount | 770,000 | ||
Senior Bond 11 [Member] | Unidad de Fomento (funds code) [Member] | |||
Disclosure of financial liabilities [line items] | |||
Date | Jul. 21, 2017 | ||
Amount | 10,000 | ||
Senior Bond 12 [Member] | Unidad de Fomento (funds code) [Member] | |||
Disclosure of financial liabilities [line items] | |||
Date | Aug. 28, 2017 | ||
Amount | 400,000 | ||
Senior Bond 13 [Member] | Unidad de Fomento (funds code) [Member] | |||
Disclosure of financial liabilities [line items] | |||
Date | Aug. 29, 2017 | ||
Amount | 272,000 | ||
Senior Bond 14 [Member] | Unidad de Fomento (funds code) [Member] | |||
Disclosure of financial liabilities [line items] | |||
Date | Nov. 3, 2017 | ||
Amount | 14,000 | ||
Senior Bond 15 [Member] | Unidad de Fomento (funds code) [Member] | |||
Disclosure of financial liabilities [line items] | |||
Date | Nov. 29, 2017 | ||
Amount | 400,000 | ||
Senior Bond 16 [Member] | Unidad de Fomento (funds code) [Member] | |||
Disclosure of financial liabilities [line items] | |||
Date | Dec. 6, 2017 | ||
Amount | 20,000 | ||
Senior Bond 17 [Member] | Unidad de Fomento (funds code) [Member] | |||
Disclosure of financial liabilities [line items] | |||
Date | Dec. 12, 2017 | ||
Amount | $ | $ 10,990,000,000 |
SIGNIFICANT EVENTS (Details Nar
SIGNIFICANT EVENTS (Details Narrative) - CLP ($) $ / shares in Units, $ in Millions | Apr. 21, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Significant Events Details Narrative | ||||
Net income attributable to equity holders of the Bank | $ 562,801 | $ 562,801 | $ 476,067 | $ 448,466 |
Dividend per share (in dollars per share) | $ 1.755 | $ 1.787 |
REPORTING SEGMENTS (Details)
REPORTING SEGMENTS (Details) - CLP ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Disclosure of operating segments [line items] | ||||
Loans and accounts receivable from customers | $ 26,772,544 | $ 26,147,154 | ||
Net interest income | 1,326,691 | 1,281,366 | $ 1,255,206 | |
Net fee and commission income | 455,558 | 431,184 | 402,900 | |
Provision for loan losses | 302,255 | 342,083 | 399,277 | |
Other operating income | 62,016 | 6,427 | 6,439 | |
Income from investments in associates and other companies | 3,963 | 3,012 | 2,588 | |
Income tax expense | 145,031 | 109,031 | 76,395 | |
Net income for the year | 575,249 | 478,432 | 451,729 | |
Retail Banking [Member] | ||||
Disclosure of operating segments [line items] | ||||
Loans and accounts receivable from customers | [1] | 19,233,169 | 18,604,936 | 17,034,707 |
Net interest income | 970,332 | 931,105 | 873,026 | |
Net fee and commission income | 206,449 | 196,845 | 190,380 | |
Financial transactions, net | [2] | 20,595 | 21,141 | 16,245 |
Provision for loan losses | (293,956) | (323,888) | (332,657) | |
Support expenses | [3] | (534,970) | (529,909) | (533,086) |
Segment`s net contribution | 368,450 | 295,294 | 213,908 | |
Middle Market [Member] | ||||
Disclosure of operating segments [line items] | ||||
Loans and accounts receivable from customers | [1] | 6,775,734 | 6,396,376 | 6,006,282 |
Net interest income | 264,663 | 244,960 | 229,812 | |
Net fee and commission income | 36,280 | 30,851 | 28,537 | |
Financial transactions, net | [2] | 13,751 | 19,577 | 17,897 |
Provision for loan losses | (19,235) | (26,748) | (26,147) | |
Support expenses | [3] | (91,882) | (83,412) | (77,261) |
Segment`s net contribution | 203,577 | 185,228 | 172,838 | |
Commercial Banking [Member] | ||||
Disclosure of operating segments [line items] | ||||
Loans and accounts receivable from customers | [1] | 26,008,903 | 25,001,312 | 23,040,989 |
Net interest income | 1,234,995 | 1,176,065 | 1,102,838 | |
Net fee and commission income | 242,729 | 227,696 | 218,917 | |
Financial transactions, net | [2] | 34,346 | 40,718 | 34,142 |
Provision for loan losses | (313,191) | (350,636) | (358,804) | |
Support expenses | [3] | (626,852) | (613,321) | (610,347) |
Segment`s net contribution | 572,027 | 480,522 | 386,746 | |
Global Corporate Banking [Member] | ||||
Disclosure of operating segments [line items] | ||||
Loans and accounts receivable from customers | [1] | 1,633,796 | 2,121,513 | 2,178,643 |
Net interest income | 100,808 | 95,105 | 85,553 | |
Net fee and commission income | 27,626 | 25,077 | 15,231 | |
Financial transactions, net | [2] | 50,714 | 55,927 | 50,327 |
Provision for loan losses | 6,440 | 7,579 | (28,426) | |
Support expenses | [3] | (62,685) | (53,935) | (49,533) |
Segment`s net contribution | 122,903 | 129,753 | 73,152 | |
Other [Member] | ||||
Disclosure of operating segments [line items] | ||||
Loans and accounts receivable from customers | [1] | 83,215 | 83,606 | 81,125 |
Net interest income | (9,112) | 10,196 | 66,815 | |
Net fee and commission income | 8,708 | 1,651 | 3,479 | |
Financial transactions, net | [2] | 44,692 | 43,713 | 61,030 |
Provision for loan losses | 4,496 | 974 | (12,047) | |
Support expenses | [3] | (15,356) | (19,649) | (1,328) |
Segment`s net contribution | 33,428 | 36,885 | 117,949 | |
Total [Member] | ||||
Disclosure of operating segments [line items] | ||||
Loans and accounts receivable from customers | [1] | 27,725,914 | 27,206,431 | 25,300,757 |
Net interest income | 1,326,691 | 1,281,366 | 1,255,206 | |
Net fee and commission income | 279,063 | 254,424 | 237,627 | |
Financial transactions, net | [2] | 129,752 | 140,358 | 145,499 |
Provision for loan losses | (302,255) | (342,083) | (399,277) | |
Support expenses | [3] | (704,893) | (686,905) | (661,208) |
Segment`s net contribution | 728,358 | 647,160 | 577,847 | |
Other operating income | 62,016 | 6,427 | 6,439 | |
Other operating expenses and impairment | (74,057) | (69,136) | (58,750) | |
Income from investments in associates and other companies | 3,963 | 3,012 | 2,588 | |
Income tax expense | (145,031) | (109,031) | (76,395) | |
Net income for the year | $ 575,249 | $ 478,432 | $ 451,729 | |
[1] | Corresponds to loans and accounts receivable from customers, without deducting their allowances for loan losses. | |||
[2] | Corresponds to the sum of the net income from financial operations and the foreign exchange profit or loss. | |||
[3] | Corresponds to the sum of personnel salaries and expenses, administrative expenses, depreciation and amortization. |
CASH AND CASH EQUIVALENTS (Deta
CASH AND CASH EQUIVALENTS (Details) - CLP ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Cash and deposits in banks | ||||
Cash | $ 613,361 | $ 570,317 | ||
Deposits at the Central Bank of Chile | 441,683 | 507,275 | ||
Deposits in local banks | 393 | 1,440 | ||
Deposits in banks abroad | 397,485 | 1,200,357 | ||
Subtotals - Cash and deposits in banks | 1,452,922 | 2,279,389 | ||
Net cash items in process of collection | 181,419 | 206,810 | ||
Cash and cash equivalents | $ 1,634,341 | $ 2,486,199 | $ 2,327,170 | $ 1,859,002 |
CASH AND CASH EQUIVALENTS (De95
CASH AND CASH EQUIVALENTS (Details 1) - CLP ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Assets | ||
Documents held by other banks (documents to be cleared) | $ 199,619 | $ 200,109 |
Funds receivable | 468,526 | 295,174 |
Subtotal | 668,145 | 495,283 |
Liabilities | ||
Funds payable | 486,726 | 288,473 |
Subtotal | 486,726 | 288,473 |
Cash in process of collection, net | $ 181,419 | $ 206,810 |
TRADING INVESTMENTS (Details)
TRADING INVESTMENTS (Details) - CLP ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of fair value measurement of assets [line items] | ||
Total | $ 485,736 | $ 396,987 |
Chilean Central Bank & Government Securities [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 481,642 | 396,011 |
Chilean Central Bank & Government Securities [Member] | Chilean Central Bank Bonds [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 272,272 | 158,686 |
Chilean Central Bank & Government Securities [Member] | Chilean Central Bank Notes [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
Chilean Central Bank & Government Securities [Member] | Other Chilean Central Bank and Government securities [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 209,370 | 237,325 |
Other Chilean securities [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 976 | |
Other Chilean securities [Member] | Time deposits in Chilean financial institutions [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
Other Chilean securities [Member] | Mortgage finance bonds of Chilean financial institutions [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
Other Chilean securities [Member] | Chilean financial institution bonds [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
Other Chilean securities [Member] | Chilean corporate bonds [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 976 | |
Other Chilean securities [Member] | Other Chilean securities [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
Foreign financial securities [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
Foreign financial securities [Member] | Foreign Central Banks and Government securities [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
Foreign financial securities [Member] | Other foreign financial instruments [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
Investments in mutual funds [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 4,094 | |
Investments in mutual funds [Member] | Funds managed by related entities [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 4,094 | |
Investments in mutual funds [Member] | Funds managed by others [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total |
INVESTMENTS UNDER RESALE AGRE97
INVESTMENTS UNDER RESALE AGREEMENTS AND OBLIGATIONS UNDER REPURCHASE AGREEMENTS (Details) - CLP ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of fair value measurement of assets [line items] | ||
Total | $ 6,736 | |
From 1 Day and less than 3 Months [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 6,736 | |
More than 3 months to 1 year [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
More than 1 Year [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
Chilean Central Bank & Government Securities [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 6,736 | |
Chilean Central Bank & Government Securities [Member] | From 1 Day and less than 3 Months [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 6,736 | |
Chilean Central Bank & Government Securities [Member] | More than 3 months to 1 year [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
Chilean Central Bank & Government Securities [Member] | More than 1 Year [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
Chilean Central Bank & Government Securities [Member] | Chilean Central Bank Bonds [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 3,260 | |
Chilean Central Bank & Government Securities [Member] | Chilean Central Bank Bonds [Member] | From 1 Day and less than 3 Months [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 3,260 | |
Chilean Central Bank & Government Securities [Member] | Chilean Central Bank Bonds [Member] | More than 3 months to 1 year [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
Chilean Central Bank & Government Securities [Member] | Chilean Central Bank Bonds [Member] | More than 1 Year [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
Chilean Central Bank & Government Securities [Member] | Chilean Central Bank Notes [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
Chilean Central Bank & Government Securities [Member] | Chilean Central Bank Notes [Member] | From 1 Day and less than 3 Months [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
Chilean Central Bank & Government Securities [Member] | Chilean Central Bank Notes [Member] | More than 3 months to 1 year [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
Chilean Central Bank & Government Securities [Member] | Chilean Central Bank Notes [Member] | More than 1 Year [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
Chilean Central Bank & Government Securities [Member] | Other Chilean Central Bank and Government securities [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 3,476 | |
Chilean Central Bank & Government Securities [Member] | Other Chilean Central Bank and Government securities [Member] | From 1 Day and less than 3 Months [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 3,476 | |
Chilean Central Bank & Government Securities [Member] | Other Chilean Central Bank and Government securities [Member] | More than 3 months to 1 year [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
Chilean Central Bank & Government Securities [Member] | Other Chilean Central Bank and Government securities [Member] | More than 1 Year [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total |
INVESTMENTS UNDER RESALE AGRE98
INVESTMENTS UNDER RESALE AGREEMENTS AND OBLIGATIONS UNDER REPURCHASE AGREEMENTS (Details 1) - CLP ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of fair value measurement of assets [line items] | ||
Total | $ 268,061 | $ 212,437 |
Other Domestic Chilean securities [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 1,156 | 57,393 |
Other Foreign Chilean securities [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 24,910 | |
From 1 Day and less than 3 Months [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 268,023 | 211,942 |
From 1 Day and less than 3 Months [Member] | Other Domestic Chilean securities [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 1,118 | 56,898 |
From 1 Day and less than 3 Months [Member] | Other Foreign Chilean securities [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 24,910 | |
More than 3 months to 1 year [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 38 | 495 |
More than 3 months to 1 year [Member] | Other Domestic Chilean securities [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 38 | 495 |
More than 3 months to 1 year [Member] | Other Foreign Chilean securities [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
More than 1 Year [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
More than 1 Year [Member] | Other Domestic Chilean securities [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
More than 1 Year [Member] | Other Foreign Chilean securities [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
Time deposits in Chilean Financial Institutions [Member] | Other Domestic Chilean securities [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 1,156 | 57,393 |
Time deposits in Chilean Financial Institutions [Member] | From 1 Day and less than 3 Months [Member] | Other Domestic Chilean securities [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 1,118 | 56,898 |
Time deposits in Chilean Financial Institutions [Member] | More than 3 months to 1 year [Member] | Other Domestic Chilean securities [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 38 | 495 |
Time deposits in Chilean Financial Institutions [Member] | More than 1 Year [Member] | Other Domestic Chilean securities [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
Securities From Government Or Foreign Central Banks [Member] | Other Foreign Chilean securities [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 24,910 | |
Securities From Government Or Foreign Central Banks [Member] | From 1 Day and less than 3 Months [Member] | Other Foreign Chilean securities [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 24,910 | |
Securities From Government Or Foreign Central Banks [Member] | More than 3 months to 1 year [Member] | Other Foreign Chilean securities [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
Securities From Government Or Foreign Central Banks [Member] | More than 1 Year [Member] | Other Foreign Chilean securities [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
Chilean Central Bank & Government Securities [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 241,995 | 155,044 |
Chilean Central Bank & Government Securities [Member] | From 1 Day and less than 3 Months [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 241,995 | 155,044 |
Chilean Central Bank & Government Securities [Member] | More than 3 months to 1 year [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
Chilean Central Bank & Government Securities [Member] | More than 1 Year [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
Chilean Central Bank & Government Securities [Member] | Chilean Central Bank Bonds [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
Chilean Central Bank & Government Securities [Member] | Chilean Central Bank Bonds [Member] | From 1 Day and less than 3 Months [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
Chilean Central Bank & Government Securities [Member] | Chilean Central Bank Bonds [Member] | More than 3 months to 1 year [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
Chilean Central Bank & Government Securities [Member] | Chilean Central Bank Bonds [Member] | More than 1 Year [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
Chilean Central Bank & Government Securities [Member] | Chilean Central Bank Notes [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 155,044 | |
Chilean Central Bank & Government Securities [Member] | Chilean Central Bank Notes [Member] | From 1 Day and less than 3 Months [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 155,044 | |
Chilean Central Bank & Government Securities [Member] | Chilean Central Bank Notes [Member] | More than 3 months to 1 year [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
Chilean Central Bank & Government Securities [Member] | Chilean Central Bank Notes [Member] | More than 1 Year [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
Chilean Central Bank & Government Securities [Member] | Other Chilean Central Bank and Government securities [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 241,995 | |
Chilean Central Bank & Government Securities [Member] | Other Chilean Central Bank and Government securities [Member] | From 1 Day and less than 3 Months [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 241,995 | |
Chilean Central Bank & Government Securities [Member] | Other Chilean Central Bank and Government securities [Member] | More than 3 months to 1 year [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
Chilean Central Bank & Government Securities [Member] | Other Chilean Central Bank and Government securities [Member] | More than 1 Year [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total |
INVESTMENTS UNDER RESALE AGRE99
INVESTMENTS UNDER RESALE AGREEMENTS AND OBLIGATIONS UNDER REPURCHASE AGREEMENTS (Details 2) - CLP ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of fair value measurement of assets [line items] | ||
Total | $ 268,061 | $ 212,437 |
Other Domestic Chilean securities [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 1,156 | 57,393 |
Other Foreign Chilean securities [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 24,910 | |
Available For Sale Portfolio [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 268,061 | 212,437 |
Available For Sale Portfolio [Member] | Other Chilean Securities [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 1,156 | 57,393 |
Available For Sale Portfolio [Member] | Other Foreign Chilean securities [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 24,910 | |
Trading Portfolio [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
Trading Portfolio [Member] | Other Chilean Securities [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
Trading Portfolio [Member] | Other Foreign Chilean securities [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
Time deposits in Chilean Financial Institutions [Member] | Other Domestic Chilean securities [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 1,156 | 57,393 |
Time deposits in Chilean Financial Institutions [Member] | Available For Sale Portfolio [Member] | Other Chilean Securities [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 1,156 | 57,393 |
Time deposits in Chilean Financial Institutions [Member] | Trading Portfolio [Member] | Other Chilean Securities [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
Securities From Government Or Foreign Central Banks [Member] | Other Foreign Chilean securities [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 24,910 | |
Securities From Government Or Foreign Central Banks [Member] | Available For Sale Portfolio [Member] | Other Foreign Chilean securities [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 24,910 | |
Securities From Government Or Foreign Central Banks [Member] | Trading Portfolio [Member] | Other Foreign Chilean securities [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
Chilean Central Bank & Government Securities [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 241,995 | 155,044 |
Chilean Central Bank & Government Securities [Member] | Available For Sale Portfolio [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 241,995 | 155,044 |
Chilean Central Bank & Government Securities [Member] | Trading Portfolio [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
Chilean Central Bank & Government Securities [Member] | Chilean Central Bank Bonds [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
Chilean Central Bank & Government Securities [Member] | Chilean Central Bank Bonds [Member] | Available For Sale Portfolio [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
Chilean Central Bank & Government Securities [Member] | Chilean Central Bank Bonds [Member] | Trading Portfolio [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
Chilean Central Bank & Government Securities [Member] | Chilean Central Bank Notes [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 155,044 | |
Chilean Central Bank & Government Securities [Member] | Chilean Central Bank Notes [Member] | Available For Sale Portfolio [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 155,044 | |
Chilean Central Bank & Government Securities [Member] | Chilean Central Bank Notes [Member] | Trading Portfolio [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | ||
Chilean Central Bank & Government Securities [Member] | Other Chilean Central Bank and Government securities [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 241,995 | |
Chilean Central Bank & Government Securities [Member] | Other Chilean Central Bank and Government securities [Member] | Available For Sale Portfolio [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 241,995 | |
Chilean Central Bank & Government Securities [Member] | Other Chilean Central Bank and Government securities [Member] | Trading Portfolio [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total |
DERIVATIVE FINANCIAL INSTRUM100
DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGE ACCOUNTING (Details) - CLP ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of detailed information about hedges [line items] | ||
Notional amount | $ 177,224,139 | $ 177,941,295 |
Fair value Assets | 2,238,647 | 2,500,782 |
Fair value Liabilities | 2,139,488 | 2,292,161 |
Up to 3 Months [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 31,615,917 | 29,134,456 |
More than 3 months to 1 year [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 35,372,847 | 35,644,624 |
More than 1 Year [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 110,235,375 | 113,162,215 |
Fair value hedges [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 7,795,629 | 4,160,888 |
Fair value Assets | 38,088 | 71,617 |
Fair value Liabilities | 67,148 | 33,079 |
Fair value hedges [Member] | Up to 3 Months [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 498,172 | |
Fair value hedges [Member] | More than 3 months to 1 year [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 878,686 | 1,020,356 |
Fair value hedges [Member] | More than 1 Year [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 6,916,943 | 2,642,360 |
Fair value hedges [Member] | Interest rate swap contract [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 1,717,156 | 1,991,410 |
Fair value Assets | 23,003 | 38,977 |
Fair value Liabilities | 1,424 | 211 |
Fair value hedges [Member] | Interest rate swap contract [Member] | Up to 3 Months [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 74,086 | |
Fair value hedges [Member] | Interest rate swap contract [Member] | More than 3 months to 1 year [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 162,985 | 514,454 |
Fair value hedges [Member] | Interest rate swap contract [Member] | More than 1 Year [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 1,554,171 | 1,402,870 |
Fair value hedges [Member] | Cross currency swaps [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 6,078,473 | 2,169,478 |
Fair value Assets | 15,085 | 32,640 |
Fair value Liabilities | 65,724 | 32,868 |
Fair value hedges [Member] | Cross currency swaps [Member] | Up to 3 Months [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 424,086 | |
Fair value hedges [Member] | Cross currency swaps [Member] | More than 3 months to 1 year [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 715,701 | 505,902 |
Fair value hedges [Member] | Cross currency swaps [Member] | More than 1 Year [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 5,362,772 | 1,239,490 |
Cash flow hedge derivatives [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 9,751,673 | 9,327,198 |
Fair value Assets | 75,636 | 53,807 |
Fair value Liabilities | 128,414 | 72,335 |
Cash flow hedge derivatives [Member] | Up to 3 Months [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 1,222,521 | 1,813,359 |
Cash flow hedge derivatives [Member] | More than 3 months to 1 year [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 1,856,586 | 3,253,645 |
Cash flow hedge derivatives [Member] | More than 1 Year [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 6,672,566 | 4,260,194 |
Cash flow hedge derivatives [Member] | Cross currency swaps [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 8,731,598 | 7,771,380 |
Fair value Assets | 36,403 | 43,591 |
Fair value Liabilities | 128,355 | 68,894 |
Cash flow hedge derivatives [Member] | Cross currency swaps [Member] | Up to 3 Months [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 421,428 | 897,480 |
Cash flow hedge derivatives [Member] | Cross currency swaps [Member] | More than 3 months to 1 year [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 1,637,604 | 2,613,706 |
Cash flow hedge derivatives [Member] | Cross currency swaps [Member] | More than 1 Year [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 6,672,566 | 4,260,194 |
Cash flow hedge derivatives [Member] | Currency forwards [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 1,020,075 | 1,555,818 |
Fair value Assets | 39,233 | 10,216 |
Fair value Liabilities | 59 | 3,441 |
Cash flow hedge derivatives [Member] | Currency forwards [Member] | Up to 3 Months [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 801,093 | 915,879 |
Cash flow hedge derivatives [Member] | Currency forwards [Member] | More than 3 months to 1 year [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 218,982 | 639,939 |
Cash flow hedge derivatives [Member] | Currency forwards [Member] | More than 1 Year [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | ||
Trading Derivatives [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 159,676,837 | 164,453,209 |
Fair value Assets | 2,124,923 | 2,375,358 |
Fair value Liabilities | 1,943,926 | 2,186,747 |
Trading Derivatives [Member] | Up to 3 Months [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 30,393,396 | 26,822,925 |
Trading Derivatives [Member] | More than 3 months to 1 year [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 32,637,575 | 31,370,623 |
Trading Derivatives [Member] | More than 1 Year [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 96,645,866 | 106,259,661 |
Trading Derivatives [Member] | Interest rate swap contract [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 69,802,132 | 69,149,409 |
Fair value Assets | 467,188 | 627,047 |
Fair value Liabilities | 392,366 | 526,695 |
Trading Derivatives [Member] | Interest rate swap contract [Member] | Up to 3 Months [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 9,069,964 | 6,889,665 |
Trading Derivatives [Member] | Interest rate swap contract [Member] | More than 3 months to 1 year [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 14,389,389 | 12,512,285 |
Trading Derivatives [Member] | Interest rate swap contract [Member] | More than 1 Year [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 46,342,779 | 49,747,459 |
Trading Derivatives [Member] | Cross currency swaps [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 57,578,156 | 64,703,753 |
Fair value Assets | 1,241,632 | 1,562,068 |
Fair value Liabilities | 1,042,120 | 1,449,550 |
Trading Derivatives [Member] | Cross currency swaps [Member] | Up to 3 Months [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 2,963,641 | 3,966,443 |
Trading Derivatives [Member] | Cross currency swaps [Member] | More than 3 months to 1 year [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 7,503,144 | 7,589,201 |
Trading Derivatives [Member] | Cross currency swaps [Member] | More than 1 Year [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 47,111,371 | 53,148,109 |
Trading Derivatives [Member] | Currency forwards [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 31,747,403 | 30,439,747 |
Fair value Assets | 412,994 | 185,618 |
Fair value Liabilities | 502,555 | 209,955 |
Trading Derivatives [Member] | Currency forwards [Member] | Up to 3 Months [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 17,976,683 | 15,840,731 |
Trading Derivatives [Member] | Currency forwards [Member] | More than 3 months to 1 year [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 10,679,327 | 11,240,251 |
Trading Derivatives [Member] | Currency forwards [Member] | More than 1 Year [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 3,091,393 | 3,358,765 |
Trading Derivatives [Member] | Call currency options [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 277,338 | 97,601 |
Fair value Assets | 1,322 | 521 |
Fair value Liabilities | 1,950 | 5 |
Trading Derivatives [Member] | Call currency options [Member] | Up to 3 Months [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 190,386 | 73,943 |
Trading Derivatives [Member] | Call currency options [Member] | More than 3 months to 1 year [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 37,099 | 20,994 |
Trading Derivatives [Member] | Call currency options [Member] | More than 1 Year [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 49,853 | 2,664 |
Trading Derivatives [Member] | Call interest rate options [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | ||
Fair value Assets | ||
Fair value Liabilities | ||
Trading Derivatives [Member] | Call interest rate options [Member] | Up to 3 Months [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | ||
Trading Derivatives [Member] | Call interest rate options [Member] | More than 3 months to 1 year [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | ||
Trading Derivatives [Member] | Call interest rate options [Member] | More than 1 Year [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | ||
Trading Derivatives [Member] | Put currency options [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 271,808 | 62,699 |
Fair value Assets | 1,787 | 104 |
Fair value Liabilities | 4,935 | 542 |
Trading Derivatives [Member] | Put currency options [Member] | Up to 3 Months [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 192,722 | 52,143 |
Trading Derivatives [Member] | Put currency options [Member] | More than 3 months to 1 year [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 28,616 | 7,892 |
Trading Derivatives [Member] | Put currency options [Member] | More than 1 Year [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 50,470 | 2,664 |
Trading Derivatives [Member] | Other derivatives [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | ||
Fair value Assets | ||
Fair value Liabilities | ||
Trading Derivatives [Member] | Other derivatives [Member] | Up to 3 Months [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | ||
Trading Derivatives [Member] | Other derivatives [Member] | More than 3 months to 1 year [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | ||
Trading Derivatives [Member] | Other derivatives [Member] | More than 1 Year [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount |
DERIVATIVE FINANCIAL INSTRUM101
DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGE ACCOUNTING (Details 1) - CLP ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of detailed information about hedges [line items] | ||
Notional amount | $ 177,224,139 | $ 177,941,295 |
Fair value hedges [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 7,795,629 | 4,160,888 |
Fair value hedges [Member] | Cross currency swaps [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 6,078,473 | 2,169,478 |
Fair value hedges [Member] | Interest rate swap contract [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 1,717,156 | 1,991,410 |
Fair value hedges [Member] | Available for sale investments [Member] | Yankee bonds [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 70,938 | 63,270 |
Fair value hedges [Member] | Available for sale investments [Member] | Mortgage financing bonds [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 4,738 | 5,651 |
Fair value hedges [Member] | Available for sale investments [Member] | Treasury bonds (BTP) [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 129,539 | 399,600 |
Fair value hedges [Member] | Available for sale investments [Member] | Central bank bonds (BCP) [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 790,286 | |
Fair value hedges [Member] | Available for sale investments [Member] | Chiliean Treasury Bonds [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 784,104 | |
Fair value hedges [Member] | Time deposits and other time liabilities [Member] | Time deposits [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 137,985 | 993,659 |
Fair value hedges [Member] | Issued debt instruments [Member] | Senior bonds [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 4,382,487 | 2,698,708 |
Fair value hedges [Member] | Loans and accounts receivables from customers [Member] | Endorsable Mortgage Mutual Loans [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 1,495,552 | |
Fair value hedges [Member] | Due within 1 year [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 878,686 | 1,518,528 |
Fair value hedges [Member] | Due within 1 year [Member] | Cross currency swaps [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 715,701 | 929,988 |
Fair value hedges [Member] | Due within 1 year [Member] | Interest rate swap contract [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 162,985 | 588,540 |
Fair value hedges [Member] | Due within 1 year [Member] | Available for sale investments [Member] | Yankee bonds [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | ||
Fair value hedges [Member] | Due within 1 year [Member] | Available for sale investments [Member] | Mortgage financing bonds [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | ||
Fair value hedges [Member] | Due within 1 year [Member] | Available for sale investments [Member] | Treasury bonds (BTP) [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | ||
Fair value hedges [Member] | Due within 1 year [Member] | Available for sale investments [Member] | Central bank bonds (BCP) [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 128,289 | |
Fair value hedges [Member] | Due within 1 year [Member] | Available for sale investments [Member] | Chiliean Treasury Bonds [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | ||
Fair value hedges [Member] | Due within 1 year [Member] | Time deposits and other time liabilities [Member] | Time deposits [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 137,985 | 993,659 |
Fair value hedges [Member] | Due within 1 year [Member] | Issued debt instruments [Member] | Senior bonds [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 25,000 | 524,869 |
Fair value hedges [Member] | Due within 1 year [Member] | Loans and accounts receivables from customers [Member] | Endorsable Mortgage Mutual Loans [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 587,412 | |
Fair value hedges [Member] | Between 1 and 3 years [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 2,440,933 | 652,046 |
Fair value hedges [Member] | Between 1 and 3 years [Member] | Cross currency swaps [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 1,512,238 | 437,046 |
Fair value hedges [Member] | Between 1 and 3 years [Member] | Interest rate swap contract [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 928,695 | 215,000 |
Fair value hedges [Member] | Between 1 and 3 years [Member] | Available for sale investments [Member] | Yankee bonds [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | ||
Fair value hedges [Member] | Between 1 and 3 years [Member] | Available for sale investments [Member] | Mortgage financing bonds [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | ||
Fair value hedges [Member] | Between 1 and 3 years [Member] | Available for sale investments [Member] | Treasury bonds (BTP) [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | ||
Fair value hedges [Member] | Between 1 and 3 years [Member] | Available for sale investments [Member] | Central bank bonds (BCP) [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 218,640 | |
Fair value hedges [Member] | Between 1 and 3 years [Member] | Available for sale investments [Member] | Chiliean Treasury Bonds [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 21,377 | |
Fair value hedges [Member] | Between 1 and 3 years [Member] | Time deposits and other time liabilities [Member] | Time deposits [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | ||
Fair value hedges [Member] | Between 1 and 3 years [Member] | Issued debt instruments [Member] | Senior bonds [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 1,399,686 | 652,046 |
Fair value hedges [Member] | Between 1 and 3 years [Member] | Loans and accounts receivables from customers [Member] | Endorsable Mortgage Mutual Loans [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 801,230 | |
Fair value hedges [Member] | Between 3 and 6 years [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 1,994,389 | 1,046,516 |
Fair value hedges [Member] | Between 3 and 6 years [Member] | Cross currency swaps [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 1,813,221 | 531,556 |
Fair value hedges [Member] | Between 3 and 6 years [Member] | Interest rate swap contract [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 181,168 | 514,960 |
Fair value hedges [Member] | Between 3 and 6 years [Member] | Available for sale investments [Member] | Yankee bonds [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 6,169 | 6,660 |
Fair value hedges [Member] | Between 3 and 6 years [Member] | Available for sale investments [Member] | Mortgage financing bonds [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 4,738 | 5,651 |
Fair value hedges [Member] | Between 3 and 6 years [Member] | Available for sale investments [Member] | Treasury bonds (BTP) [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 33,300 | |
Fair value hedges [Member] | Between 3 and 6 years [Member] | Available for sale investments [Member] | Central bank bonds (BCP) [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 443,357 | |
Fair value hedges [Member] | Between 3 and 6 years [Member] | Available for sale investments [Member] | Chiliean Treasury Bonds [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 762,727 | |
Fair value hedges [Member] | Between 3 and 6 years [Member] | Time deposits and other time liabilities [Member] | Time deposits [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | ||
Fair value hedges [Member] | Between 3 and 6 years [Member] | Issued debt instruments [Member] | Senior bonds [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 670,488 | 1,000,905 |
Fair value hedges [Member] | Between 3 and 6 years [Member] | Loans and accounts receivables from customers [Member] | Endorsable Mortgage Mutual Loans [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 106,910 | |
Fair value hedges [Member] | Over 6 years [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 2,481,621 | 943,798 |
Fair value hedges [Member] | Over 6 years [Member] | Cross currency swaps [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 2,037,313 | 270,888 |
Fair value hedges [Member] | Over 6 years [Member] | Interest rate swap contract [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 444,308 | 672,910 |
Fair value hedges [Member] | Over 6 years [Member] | Available for sale investments [Member] | Yankee bonds [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 64,769 | 56,610 |
Fair value hedges [Member] | Over 6 years [Member] | Available for sale investments [Member] | Mortgage financing bonds [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | ||
Fair value hedges [Member] | Over 6 years [Member] | Available for sale investments [Member] | Treasury bonds (BTP) [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 129,539 | 366,300 |
Fair value hedges [Member] | Over 6 years [Member] | Available for sale investments [Member] | Central bank bonds (BCP) [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | ||
Fair value hedges [Member] | Over 6 years [Member] | Available for sale investments [Member] | Chiliean Treasury Bonds [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | ||
Fair value hedges [Member] | Over 6 years [Member] | Time deposits and other time liabilities [Member] | Time deposits [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | ||
Fair value hedges [Member] | Over 6 years [Member] | Issued debt instruments [Member] | Senior bonds [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 2,287,313 | 520,888 |
Fair value hedges [Member] | Over 6 years [Member] | Loans and accounts receivables from customers [Member] | Endorsable Mortgage Mutual Loans [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount |
DERIVATIVE FINANCIAL INSTRUM102
DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGE ACCOUNTING (Details 2) - CLP ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of detailed information about hedges [line items] | ||
Notional amount | $ 177,224,139 | $ 177,941,295 |
Cash flow hedge derivatives [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 9,751,673 | 9,327,198 |
Cash flow hedge derivatives [Member] | Currency forwards [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 1,020,075 | 1,555,818 |
Cash flow hedge derivatives [Member] | Cross currency swaps [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 8,731,598 | 7,771,380 |
Cash flow hedge derivatives [Member] | Loans and accounts receivables from customers [Member] | Mortgage loans [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 5,425,421 | 3,254,067 |
Cash flow hedge derivatives [Member] | Loans and accounts receivables from customers [Member] | Commercial loans [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 644,608 | 972,360 |
Cash flow hedge derivatives [Member] | Available for sale investments [Member] | Yankee bond [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 157,862 | 533,021 |
Cash flow hedge derivatives [Member] | Available for sale investments [Member] | Chilean Central Bank Bonds [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 242,819 | 20,754 |
Cash flow hedge derivatives [Member] | Available for sale investments [Member] | Time deposits [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 26,196 | |
Cash flow hedge derivatives [Member] | Time deposits and other time liabilities [Member] | Time deposits [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 285,090 | |
Cash flow hedge derivatives [Member] | Issued debt instruments [Member] | Senior bonds (variable rate) [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 1,070,524 | 1,539,220 |
Cash flow hedge derivatives [Member] | Issued debt instruments [Member] | Senior bonds (fixed rate) [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 888,077 | 597,895 |
Cash flow hedge derivatives [Member] | Interbank borrowings [Member] | Interbank loans [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 1,322,362 | 2,098,595 |
Cash flow hedge derivatives [Member] | Due within 1 year [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 3,079,107 | 5,067,004 |
Cash flow hedge derivatives [Member] | Due within 1 year [Member] | Currency forwards [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 1,020,075 | 1,555,818 |
Cash flow hedge derivatives [Member] | Due within 1 year [Member] | Cross currency swaps [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 2,059,032 | 3,511,186 |
Cash flow hedge derivatives [Member] | Due within 1 year [Member] | Loans and accounts receivables from customers [Member] | Mortgage loans [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 1,153,348 | 1,083,972 |
Cash flow hedge derivatives [Member] | Due within 1 year [Member] | Loans and accounts receivables from customers [Member] | Commercial loans [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 644,608 | 972,360 |
Cash flow hedge derivatives [Member] | Due within 1 year [Member] | Available for sale investments [Member] | Yankee bond [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | ||
Cash flow hedge derivatives [Member] | Due within 1 year [Member] | Available for sale investments [Member] | Chilean Central Bank Bonds [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 20,754 | |
Cash flow hedge derivatives [Member] | Due within 1 year [Member] | Available for sale investments [Member] | Time deposits [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 26,196 | |
Cash flow hedge derivatives [Member] | Due within 1 year [Member] | Time deposits and other time liabilities [Member] | Time deposits [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 285,090 | |
Cash flow hedge derivatives [Member] | Due within 1 year [Member] | Issued debt instruments [Member] | Senior bonds (variable rate) [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 120,520 | 854,414 |
Cash flow hedge derivatives [Member] | Due within 1 year [Member] | Issued debt instruments [Member] | Senior bonds (fixed rate) [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 241,183 | 140,765 |
Cash flow hedge derivatives [Member] | Due within 1 year [Member] | Interbank borrowings [Member] | Interbank loans [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 919,448 | 1,683,453 |
Cash flow hedge derivatives [Member] | Between 1 and 3 years [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 1,755,144 | 1,235,548 |
Cash flow hedge derivatives [Member] | Between 1 and 3 years [Member] | Currency forwards [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | ||
Cash flow hedge derivatives [Member] | Between 1 and 3 years [Member] | Cross currency swaps [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 1,755,144 | 235,548 |
Cash flow hedge derivatives [Member] | Between 1 and 3 years [Member] | Loans and accounts receivables from customers [Member] | Mortgage loans [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 583,061 | 312,546 |
Cash flow hedge derivatives [Member] | Between 1 and 3 years [Member] | Loans and accounts receivables from customers [Member] | Commercial loans [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | ||
Cash flow hedge derivatives [Member] | Between 1 and 3 years [Member] | Available for sale investments [Member] | Yankee bond [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | ||
Cash flow hedge derivatives [Member] | Between 1 and 3 years [Member] | Available for sale investments [Member] | Chilean Central Bank Bonds [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | ||
Cash flow hedge derivatives [Member] | Between 1 and 3 years [Member] | Available for sale investments [Member] | Time deposits [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | ||
Cash flow hedge derivatives [Member] | Between 1 and 3 years [Member] | Time deposits and other time liabilities [Member] | Time deposits [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | ||
Cash flow hedge derivatives [Member] | Between 1 and 3 years [Member] | Issued debt instruments [Member] | Senior bonds (variable rate) [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 647,550 | 399,451 |
Cash flow hedge derivatives [Member] | Between 1 and 3 years [Member] | Issued debt instruments [Member] | Senior bonds (fixed rate) [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 121,619 | 108,409 |
Cash flow hedge derivatives [Member] | Between 1 and 3 years [Member] | Interbank borrowings [Member] | Interbank loans [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 402,914 | 415,142 |
Cash flow hedge derivatives [Member] | Between 3 and 6 years [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 2,130,105 | 1,555,362 |
Cash flow hedge derivatives [Member] | Between 3 and 6 years [Member] | Currency forwards [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | ||
Cash flow hedge derivatives [Member] | Between 3 and 6 years [Member] | Cross currency swaps [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 2,130,105 | 1,555,362 |
Cash flow hedge derivatives [Member] | Between 3 and 6 years [Member] | Loans and accounts receivables from customers [Member] | Mortgage loans [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 1,335,141 | 900,746 |
Cash flow hedge derivatives [Member] | Between 3 and 6 years [Member] | Loans and accounts receivables from customers [Member] | Commercial loans [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | ||
Cash flow hedge derivatives [Member] | Between 3 and 6 years [Member] | Available for sale investments [Member] | Yankee bond [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 25,290 | 126,140 |
Cash flow hedge derivatives [Member] | Between 3 and 6 years [Member] | Available for sale investments [Member] | Chilean Central Bank Bonds [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 242,819 | |
Cash flow hedge derivatives [Member] | Between 3 and 6 years [Member] | Available for sale investments [Member] | Time deposits [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | ||
Cash flow hedge derivatives [Member] | Between 3 and 6 years [Member] | Time deposits and other time liabilities [Member] | Time deposits [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | ||
Cash flow hedge derivatives [Member] | Between 3 and 6 years [Member] | Issued debt instruments [Member] | Senior bonds (variable rate) [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 302,454 | 285,355 |
Cash flow hedge derivatives [Member] | Between 3 and 6 years [Member] | Issued debt instruments [Member] | Senior bonds (fixed rate) [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 224,401 | 243,121 |
Cash flow hedge derivatives [Member] | Between 3 and 6 years [Member] | Interbank borrowings [Member] | Interbank loans [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | ||
Cash flow hedge derivatives [Member] | Over 6 years [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 2,787,317 | 1,469,284 |
Cash flow hedge derivatives [Member] | Over 6 years [Member] | Currency forwards [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | ||
Cash flow hedge derivatives [Member] | Over 6 years [Member] | Cross currency swaps [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 2,787,317 | 1,469,284 |
Cash flow hedge derivatives [Member] | Over 6 years [Member] | Loans and accounts receivables from customers [Member] | Mortgage loans [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 2,353,871 | 956,803 |
Cash flow hedge derivatives [Member] | Over 6 years [Member] | Loans and accounts receivables from customers [Member] | Commercial loans [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | ||
Cash flow hedge derivatives [Member] | Over 6 years [Member] | Available for sale investments [Member] | Yankee bond [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 132,572 | 406,881 |
Cash flow hedge derivatives [Member] | Over 6 years [Member] | Available for sale investments [Member] | Chilean Central Bank Bonds [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | ||
Cash flow hedge derivatives [Member] | Over 6 years [Member] | Available for sale investments [Member] | Time deposits [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | ||
Cash flow hedge derivatives [Member] | Over 6 years [Member] | Time deposits and other time liabilities [Member] | Time deposits [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | ||
Cash flow hedge derivatives [Member] | Over 6 years [Member] | Issued debt instruments [Member] | Senior bonds (variable rate) [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | ||
Cash flow hedge derivatives [Member] | Over 6 years [Member] | Issued debt instruments [Member] | Senior bonds (fixed rate) [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount | 300,874 | 105,600 |
Cash flow hedge derivatives [Member] | Over 6 years [Member] | Interbank borrowings [Member] | Interbank loans [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Notional amount |
DERIVATIVE FINANCIAL INSTRUM103
DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGE ACCOUNTING (Details 3) - Cash flow hedge derivatives [Member] - Interest rate risk [member] - CLP ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 | |
Hedging Instruments Inflows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | $ 112,875 | $ 136,528 | |
Hedging Instruments Outflows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | [1] | (385,626) | (279,027) |
Hedging Instruments Net flows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | (272,751) | (142,499) | |
Hedged Items Inflows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | 385,626 | 279,027 | |
Hedged Items Outflows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | (112,875) | (136,528) | |
Hedged Items Net flows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | 272,751 | 142,499 | |
Due within 1 year [Member] | Hedging Instruments Inflows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | 60,733 | 72,631 | |
Due within 1 year [Member] | Hedging Instruments Outflows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | [1] | (308,737) | (159,439) |
Due within 1 year [Member] | Hedging Instruments Net flows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | (248,004) | (86,808) | |
Due within 1 year [Member] | Hedged Items Inflows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | 308,737 | 159,439 | |
Due within 1 year [Member] | Hedged Items Outflows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | (60,733) | (72,631) | |
Due within 1 year [Member] | Hedged Items Net flows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | 248,004 | 86,808 | |
Between 1 and 3 years [Member] | Hedging Instruments Inflows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | 43,507 | 45,857 | |
Between 1 and 3 years [Member] | Hedging Instruments Outflows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | [1] | (60,515) | (83,193) |
Between 1 and 3 years [Member] | Hedging Instruments Net flows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | (17,008) | (37,336) | |
Between 1 and 3 years [Member] | Hedged Items Inflows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | 60,515 | 83,193 | |
Between 1 and 3 years [Member] | Hedged Items Outflows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | (43,507) | (45,857) | |
Between 1 and 3 years [Member] | Hedged Items Net flows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | 17,008 | 37,336 | |
Between 3 and 6 years [Member] | Hedging Instruments Inflows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | 7,757 | 18,040 | |
Between 3 and 6 years [Member] | Hedging Instruments Outflows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | [1] | (13,780) | (32,647) |
Between 3 and 6 years [Member] | Hedging Instruments Net flows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | (6,023) | (14,607) | |
Between 3 and 6 years [Member] | Hedged Items Inflows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | 13,780 | 32,647 | |
Between 3 and 6 years [Member] | Hedged Items Outflows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | (7,757) | (18,040) | |
Between 3 and 6 years [Member] | Hedged Items Net flows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | 6,023 | 14,607 | |
Over 6 years [Member] | Hedging Instruments Inflows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | 878 | ||
Over 6 years [Member] | Hedging Instruments Outflows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | [1] | (2,594) | (3,748) |
Over 6 years [Member] | Hedging Instruments Net flows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | (1,716) | (3,748) | |
Over 6 years [Member] | Hedged Items Inflows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | 2,594 | 3,748 | |
Over 6 years [Member] | Hedged Items Outflows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | (878) | ||
Over 6 years [Member] | Hedged Items Net flows [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Forecasted cash flows | $ 1,716 | $ 3,748 | |
[1] | Only includes cash flow forecast portion of the hedge instruments used to cover interest rate risk. |
DERIVATIVE FINANCIAL INSTRUM104
DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGE ACCOUNTING (Details 4) - Cash flow hedge derivatives [Member] - Inflation rate risk [member] - CLP ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Hedging Instruments Inflows [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Forecasted cash flows | $ 1,645 | $ 4,900 |
Hedging Instruments Outflows [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Forecasted cash flows | (439,323) | (206,342) |
Hedging Instruments Net flows [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Forecasted cash flows | (437,678) | (201,442) |
Hedged Items Inflows [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Forecasted cash flows | 439,323 | 206,342 |
Hedged Items Outflows [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Forecasted cash flows | (1,645) | (4,900) |
Hedged Items Net flows [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Forecasted cash flows | 437,678 | 201,442 |
Due within 1 year [Member] | Hedging Instruments Inflows [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Forecasted cash flows | 1,645 | 4,900 |
Due within 1 year [Member] | Hedging Instruments Outflows [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Forecasted cash flows | (20,300) | (22,586) |
Due within 1 year [Member] | Hedging Instruments Net flows [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Forecasted cash flows | (18,655) | (17,686) |
Due within 1 year [Member] | Hedged Items Inflows [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Forecasted cash flows | 20,300 | 22,586 |
Due within 1 year [Member] | Hedged Items Outflows [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Forecasted cash flows | (1,645) | (4,900) |
Due within 1 year [Member] | Hedged Items Net flows [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Forecasted cash flows | 18,655 | 17,686 |
Between 1 and 3 years [Member] | Hedging Instruments Inflows [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Forecasted cash flows | ||
Between 1 and 3 years [Member] | Hedging Instruments Outflows [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Forecasted cash flows | (29,008) | (11,896) |
Between 1 and 3 years [Member] | Hedging Instruments Net flows [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Forecasted cash flows | (29,008) | (11,896) |
Between 1 and 3 years [Member] | Hedged Items Inflows [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Forecasted cash flows | 29,008 | 11,896 |
Between 1 and 3 years [Member] | Hedged Items Outflows [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Forecasted cash flows | ||
Between 1 and 3 years [Member] | Hedged Items Net flows [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Forecasted cash flows | 29,008 | 11,896 |
Between 3 and 6 years [Member] | Hedging Instruments Inflows [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Forecasted cash flows | ||
Between 3 and 6 years [Member] | Hedging Instruments Outflows [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Forecasted cash flows | (103,544) | (56,107) |
Between 3 and 6 years [Member] | Hedging Instruments Net flows [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Forecasted cash flows | (103,544) | (56,107) |
Between 3 and 6 years [Member] | Hedged Items Inflows [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Forecasted cash flows | 103,544 | 56,107 |
Between 3 and 6 years [Member] | Hedged Items Outflows [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Forecasted cash flows | ||
Between 3 and 6 years [Member] | Hedged Items Net flows [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Forecasted cash flows | 103,544 | 56,107 |
Over 6 years [Member] | Hedging Instruments Inflows [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Forecasted cash flows | ||
Over 6 years [Member] | Hedging Instruments Outflows [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Forecasted cash flows | (286,471) | (115,753) |
Over 6 years [Member] | Hedging Instruments Net flows [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Forecasted cash flows | (286,471) | (115,753) |
Over 6 years [Member] | Hedged Items Inflows [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Forecasted cash flows | 286,471 | 115,753 |
Over 6 years [Member] | Hedged Items Outflows [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Forecasted cash flows | ||
Over 6 years [Member] | Hedged Items Net flows [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Forecasted cash flows | $ 286,471 | $ 115,753 |
DERIVATIVE FINANCIAL INSTRUM105
DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGE ACCOUNTING (Details 5) - Cash flow hedge derivatives [Member] - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of detailed information about hedges [line items] | ||
Net flows | $ (3,562) | $ 2,288 |
Interbank borrowings [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Net flows | (4,779) | (6,019) |
Time deposits and other time liabilities [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Net flows | (294) | |
Issued debt instruments [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Net flows | (8,683) | (8,169) |
Available for sale investments [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Net flows | (364) | 12,833 |
Loans and accounts receivables from customers [Member] | ||
Disclosure of detailed information about hedges [line items] | ||
Net flows | $ 10,264 | $ 3,937 |
DERIVATIVE FINANCIAL INSTRUM106
DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGE ACCOUNTING (Details 6) - Cash flow hedge derivatives [Member] - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of detailed information about hedges [line items] | |||
Cash flow hedge net gains (losses) | $ (77) | $ 6 | |
Interbank loans [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Cash flow hedge net gains (losses) | |||
Bond Hedging derivatives [Member] | |||
Disclosure of detailed information about hedges [line items] | |||
Cash flow hedge net gains (losses) | $ (77) | $ 6 |
DERIVATIVE FINANCIAL INSTRUM107
DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGE ACCOUNTING (Details Narrative) - CLP ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Derivative Financial Instruments And Hedge Accounting | ||
Bank recorded inefficiencies | $ 1,187 | $ 355 |
INTERBANK LOANS (Details)
INTERBANK LOANS (Details) - CLP ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Foreign Interbank Loans | ||
Total | $ 162,213 | $ 268,672 |
Loans and accounts receivables from customers [Member] | ||
Foreign Interbank Loans | ||
Total | 162,213 | 268,672 |
Loans and accounts receivables from customers [Member] | Domestic Banks [Member] | ||
Domestic banks | ||
Interbank loans | 23 | |
Other domestic bank loans | 51 | |
Loans and accounts receivables from customers [Member] | Foreign Banks [Member] | ||
Foreign Interbank Loans | ||
Interbank loans - Foreign | 162,685 | 272,733 |
Provisions and impairment for foreign bank loans | $ (472) | $ (4,135) |
INTERBANK LOANS (Details 1)
INTERBANK LOANS (Details 1) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Changes in provisions and impairment [Roll Forward] | |||
Provisions released | $ 302,255 | $ 342,083 | $ 399,277 |
Loans and accounts receivables from customers [Member] | Provisions and Impairment of Loans [Member] | |||
Changes in provisions and impairment [Roll Forward] | |||
Beginning balance | 4,135 | 1,166 | |
Provisions established | 307 | 3,052 | |
Provisions released | (3,970) | (83) | |
Ending balance | 472 | 4,135 | 1,166 |
Loans and accounts receivables from customers [Member] | Domestic Banks [Member] | Provisions and Impairment of Loans [Member] | |||
Changes in provisions and impairment [Roll Forward] | |||
Beginning balance | |||
Provisions established | 251 | 1 | |
Provisions released | (251) | (1) | |
Ending balance | |||
Loans and accounts receivables from customers [Member] | Foreign Banks [Member] | Provisions and Impairment of Loans [Member] | |||
Changes in provisions and impairment [Roll Forward] | |||
Beginning balance | 4,135 | 1,166 | |
Provisions established | 56 | 3,051 | |
Provisions released | (3,719) | (82) | |
Ending balance | $ 472 | $ 4,135 | $ 1,166 |
LOANS AND ACCOUNTS RECEIVABL110
LOANS AND ACCOUNTS RECEIVABLE FROM CUSTOMERS (Details) - CLP ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Disclosure of financial assets [line items] | |||
Assets before Allowances | $ 27,725,914 | $ 27,206,431 | |
Allowances established | 1,440 | 7,558 | |
Net assets | 26,772,544 | 26,147,154 | |
Individual Allowance [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 218,790 | 246,336 | |
Group Allowance [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 571,895 | 540,134 | |
Total Provision [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 790,685 | 786,470 | |
Allowances established | 790,685 | 786,470 | $ 761,135 |
Commercial loans [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 14,071,327 | 14,140,272 | |
Net assets | 13,470,779 | 13,438,023 | |
Commercial loans [Member] | Individual Allowance [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 218,790 | 246,336 | |
Allowances established | 218,790 | 246,336 | 256,505 |
Commercial loans [Member] | Group Allowance [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 219,073 | 183,106 | |
Allowances established | 219,073 | 183,106 | 174,696 |
Commercial loans [Member] | Total Provision [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 437,863 | 429,442 | |
Mortgage Loans [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 9,096,895 | 8,619,356 | |
Allowances established | 69,066 | 57,009 | 62,427 |
Net assets | 9,027,829 | 8,562,347 | |
Mortgage Loans [Member] | Individual Allowance [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | |||
Mortgage Loans [Member] | Group Allowance [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 69,066 | 57,009 | |
Mortgage Loans [Member] | Total Provision [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 69,066 | 57,009 | |
Consumer Loans [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 4,557,692 | 4,446,803 | |
Allowances established | 283,756 | 300,019 | $ 267,507 |
Net assets | 4,273,936 | 4,146,784 | |
Consumer Loans [Member] | Individual Allowance [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | |||
Consumer Loans [Member] | Group Allowance [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 283,756 | 300,019 | |
Consumer Loans [Member] | Total Provision [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 283,756 | 300,019 | |
Commercial Loans Portfolio [Member] | Commercial loans [Member] | |||
Disclosure of financial assets [line items] | |||
Net assets | 9,688,666 | 9,545,491 | |
Commercial Loans Portfolio [Member] | Commercial loans [Member] | Individual Allowance [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 133,254 | 159,463 | |
Commercial Loans Portfolio [Member] | Commercial loans [Member] | Group Allowance [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 168,736 | 148,703 | |
Commercial Loans Portfolio [Member] | Commercial loans [Member] | Total Provision [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 301,990 | 308,166 | |
Foreign Trade Loans [Member] | Commercial loans [Member] | |||
Disclosure of financial assets [line items] | |||
Net assets | 1,524,043 | 1,772,084 | |
Foreign Trade Loans [Member] | Commercial loans [Member] | Individual Allowance [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 49,026 | 56,919 | |
Foreign Trade Loans [Member] | Commercial loans [Member] | Group Allowance [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 1,444 | 901 | |
Foreign Trade Loans [Member] | Commercial loans [Member] | Total Provision [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 50,470 | 57,820 | |
Current Account Debtors [Member] | Commercial loans [Member] | |||
Disclosure of financial assets [line items] | |||
Net assets | 181,230 | 169,820 | |
Current Account Debtors [Member] | Commercial loans [Member] | Individual Allowance [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 2,726 | 2,794 | |
Current Account Debtors [Member] | Commercial loans [Member] | Group Allowance [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 11,740 | 6,854 | |
Current Account Debtors [Member] | Commercial loans [Member] | Total Provision [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 14,466 | 9,648 | |
Factoring Transactions [Member] | Commercial loans [Member] | |||
Disclosure of financial assets [line items] | |||
Net assets | 443,895 | 291,344 | |
Factoring Transactions [Member] | Commercial loans [Member] | Individual Allowance [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 4,788 | 4,787 | |
Factoring Transactions [Member] | Commercial loans [Member] | Group Allowance [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 1,207 | 620 | |
Factoring Transactions [Member] | Commercial loans [Member] | Total Provision [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 5,995 | 5,407 | |
Student loans [Member] | Commercial loans [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 82,368 | ||
Student loans [Member] | Commercial loans [Member] | Individual Allowance [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | |||
Student loans [Member] | Commercial loans [Member] | Group Allowance [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 5,922 | ||
Student loans [Member] | Commercial loans [Member] | Total Provision [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 5,922 | ||
Commercial Lease Transactions [Member] | Commercial loans [Member] | |||
Disclosure of financial assets [line items] | |||
Net assets | 1,426,682 | 1,461,984 | |
Commercial Lease Transactions [Member] | Commercial loans [Member] | Individual Allowance [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 14,529 | 17,529 | |
Commercial Lease Transactions [Member] | Commercial loans [Member] | Group Allowance [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 12,793 | 5,546 | |
Commercial Lease Transactions [Member] | Commercial loans [Member] | Total Provision [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 30,322 | 23,139 | |
Other Commercial Loans Portfolio [Member] | Commercial loans [Member] | |||
Disclosure of financial assets [line items] | |||
Net assets | 123,895 | 197,300 | |
Other Commercial Loans Portfolio [Member] | Commercial loans [Member] | Individual Allowance [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 11,467 | 4,780 | |
Other Commercial Loans Portfolio [Member] | Commercial loans [Member] | Group Allowance [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 17,231 | 20,482 | |
Other Commercial Loans Portfolio [Member] | Commercial loans [Member] | Total Provision [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 28,698 | 25,262 | |
Transferable Mortgage Loans [Member] | Mortgage Loans [Member] | |||
Disclosure of financial assets [line items] | |||
Net assets | 23,937 | 32,563 | |
Transferable Mortgage Loans [Member] | Mortgage Loans [Member] | Individual Allowance [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | |||
Transferable Mortgage Loans [Member] | Mortgage Loans [Member] | Group Allowance [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 123 | 16 | |
Transferable Mortgage Loans [Member] | Mortgage Loans [Member] | Total Provision [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 123 | 16 | |
Endorsable Mortgage Mutual Loans [Member] | Mortgage Loans [Member] | |||
Disclosure of financial assets [line items] | |||
Net assets | 114,484 | 119,744 | |
Endorsable Mortgage Mutual Loans [Member] | Mortgage Loans [Member] | Individual Allowance [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | |||
Endorsable Mortgage Mutual Loans [Member] | Mortgage Loans [Member] | Group Allowance [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 594 | 190 | |
Endorsable Mortgage Mutual Loans [Member] | Mortgage Loans [Member] | Total Provision [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 594 | 190 | |
Other Mortgage Bonds Portfolio [Member] | Mortgage Loans [Member] | |||
Disclosure of financial assets [line items] | |||
Net assets | 8,889,408 | 8,410,040 | |
Other Mortgage Bonds Portfolio [Member] | Mortgage Loans [Member] | Individual Allowance [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | |||
Other Mortgage Bonds Portfolio [Member] | Mortgage Loans [Member] | Group Allowance [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 68,349 | 56,803 | |
Other Mortgage Bonds Portfolio [Member] | Mortgage Loans [Member] | Total Provision [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 68,349 | 56,803 | |
Consumer Loans In Installments [Member] | Consumer Loans [Member] | |||
Disclosure of financial assets [line items] | |||
Net assets | 2,669,780 | 2,472,820 | |
Consumer Loans In Installments [Member] | Consumer Loans [Member] | Individual Allowance [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | |||
Consumer Loans In Installments [Member] | Consumer Loans [Member] | Group Allowance [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 240,962 | 249,545 | |
Consumer Loans In Installments [Member] | Consumer Loans [Member] | Total Provision [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 240,962 | 249,545 | |
Credit Card Debtors [Member] | Consumer Loans [Member] | |||
Disclosure of financial assets [line items] | |||
Net assets | 1,331,579 | 1,407,055 | |
Credit Card Debtors [Member] | Consumer Loans [Member] | Individual Allowance [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | |||
Credit Card Debtors [Member] | Consumer Loans [Member] | Group Allowance [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 33,401 | 41,063 | |
Credit Card Debtors [Member] | Consumer Loans [Member] | Total Provision [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 33,401 | 41,063 | |
Current Account Debtors Consumer Loans [Member] | Consumer Loans [Member] | |||
Disclosure of financial assets [line items] | |||
Net assets | 4,653 | 5,045 | |
Current Account Debtors Consumer Loans [Member] | Consumer Loans [Member] | Individual Allowance [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | |||
Current Account Debtors Consumer Loans [Member] | Consumer Loans [Member] | Group Allowance [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 62 | 72 | |
Current Account Debtors Consumer Loans [Member] | Consumer Loans [Member] | Total Provision [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 62 | 72 | |
Other Consumer Loans [Member] | Consumer Loans [Member] | |||
Disclosure of financial assets [line items] | |||
Net assets | 267,924 | 261,864 | |
Other Consumer Loans [Member] | Consumer Loans [Member] | Individual Allowance [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | |||
Other Consumer Loans [Member] | Consumer Loans [Member] | Group Allowance [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 9,331 | 9,339 | |
Other Consumer Loans [Member] | Consumer Loans [Member] | Total Provision [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 9,331 | 9,339 | |
Normal Portfolio [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 25,760,056 | 25,318,811 | |
Normal Portfolio [Member] | Commercial loans [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 12,895,139 | 12,938,924 | |
Normal Portfolio [Member] | Mortgage Loans [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 8,634,351 | 8,221,668 | |
Normal Portfolio [Member] | Consumer Loans [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 4,230,566 | 4,158,219 | |
Normal Portfolio [Member] | Commercial Loans Portfolio [Member] | Commercial loans [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 9,244,460 | ||
Normal Portfolio [Member] | Commercial Loans Portfolio [Member] | Commercial loans [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 9,160,982 | ||
Normal Portfolio [Member] | Foreign Trade Loans [Member] | Commercial loans [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 1,506,359 | 1,750,196 | |
Normal Portfolio [Member] | Current Account Debtors [Member] | Commercial loans [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 179,982 | 166,073 | |
Normal Portfolio [Member] | Factoring Transactions [Member] | Commercial loans [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 444,644 | 291,112 | |
Normal Portfolio [Member] | Student loans [Member] | Commercial loans [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 77,226 | ||
Normal Portfolio [Member] | Commercial Lease Transactions [Member] | Commercial loans [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 1,335,653 | 1,376,972 | |
Normal Portfolio [Member] | Other Commercial Loans Portfolio [Member] | Commercial loans [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 106,815 | 193,589 | |
Normal Portfolio [Member] | Transferable Mortgage Loans [Member] | Mortgage Loans [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 22,620 | 31,368 | |
Normal Portfolio [Member] | Endorsable Mortgage Mutual Loans [Member] | Mortgage Loans [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 110,659 | 115,400 | |
Normal Portfolio [Member] | Other Mortgage Bonds Portfolio [Member] | Mortgage Loans [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 8,501,072 | 8,074,900 | |
Normal Portfolio [Member] | Consumer Loans In Installments [Member] | Consumer Loans [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 2,613,041 | 2,468,692 | |
Normal Portfolio [Member] | Credit Card Debtors [Member] | Consumer Loans [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 1,341,098 | 1,418,409 | |
Normal Portfolio [Member] | Current Account Debtors Consumer Loans [Member] | Consumer Loans [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 4,638 | 5,062 | |
Normal Portfolio [Member] | Other Consumer Loans [Member] | Consumer Loans [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 271,789 | 266,056 | |
Impaired Portfolio [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 1,803,173 | 1,614,813 | |
Impaired Portfolio [Member] | Commercial loans [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 1,013,503 | 928,541 | |
Impaired Portfolio [Member] | Mortgage Loans [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 462,544 | 397,688 | |
Impaired Portfolio [Member] | Consumer Loans [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 327,126 | 288,584 | |
Impaired Portfolio [Member] | Commercial Loans Portfolio [Member] | Commercial loans [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 746,196 | 692,675 | |
Impaired Portfolio [Member] | Foreign Trade Loans [Member] | Commercial loans [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 68,154 | 79,708 | |
Impaired Portfolio [Member] | Current Account Debtors [Member] | Commercial loans [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 15,714 | 13,395 | |
Impaired Portfolio [Member] | Factoring Transactions [Member] | Commercial loans [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 5,246 | 5,639 | |
Impaired Portfolio [Member] | Student loans [Member] | Commercial loans [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 11,064 | ||
Impaired Portfolio [Member] | Commercial Lease Transactions [Member] | Commercial loans [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 121,351 | 108,151 | |
Impaired Portfolio [Member] | Other Commercial Loans Portfolio [Member] | Commercial loans [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 45,778 | 28,973 | |
Impaired Portfolio [Member] | Transferable Mortgage Loans [Member] | Mortgage Loans [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 1,440 | 1,211 | |
Impaired Portfolio [Member] | Endorsable Mortgage Mutual Loans [Member] | Mortgage Loans [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 4,419 | 4,534 | |
Impaired Portfolio [Member] | Other Mortgage Bonds Portfolio [Member] | Mortgage Loans [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 456,685 | 391,943 | |
Impaired Portfolio [Member] | Consumer Loans In Installments [Member] | Consumer Loans [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 297,701 | 253,673 | |
Impaired Portfolio [Member] | Credit Card Debtors [Member] | Consumer Loans [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 23,882 | 29,709 | |
Impaired Portfolio [Member] | Current Account Debtors Consumer Loans [Member] | Consumer Loans [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 77 | 55 | |
Impaired Portfolio [Member] | Other Consumer Loans [Member] | Consumer Loans [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 5,466 | 5,147 | |
Total Impaired Portfolio [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 27,563,229 | 26,933,624 | |
Total Impaired Portfolio [Member] | Commercial loans [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 13,908,642 | 13,867,465 | |
Total Impaired Portfolio [Member] | Mortgage Loans [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 9,096,895 | 8,619,356 | |
Total Impaired Portfolio [Member] | Consumer Loans [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 4,557,692 | 4,446,803 | |
Total Impaired Portfolio [Member] | Commercial Loans Portfolio [Member] | Commercial loans [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 9,990,656 | 9,853,657 | |
Total Impaired Portfolio [Member] | Foreign Trade Loans [Member] | Commercial loans [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 1,574,513 | 1,829,904 | |
Total Impaired Portfolio [Member] | Current Account Debtors [Member] | Commercial loans [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 195,696 | 179,468 | |
Total Impaired Portfolio [Member] | Factoring Transactions [Member] | Commercial loans [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 449,890 | 296,751 | |
Total Impaired Portfolio [Member] | Student loans [Member] | Commercial loans [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 88,290 | ||
Total Impaired Portfolio [Member] | Commercial Lease Transactions [Member] | Commercial loans [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 1,457,004 | 1,485,123 | |
Total Impaired Portfolio [Member] | Other Commercial Loans Portfolio [Member] | Commercial loans [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 152,593 | 222,562 | |
Total Impaired Portfolio [Member] | Transferable Mortgage Loans [Member] | Mortgage Loans [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 24,060 | 32,579 | |
Total Impaired Portfolio [Member] | Endorsable Mortgage Mutual Loans [Member] | Mortgage Loans [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 115,078 | 119,934 | |
Total Impaired Portfolio [Member] | Other Mortgage Bonds Portfolio [Member] | Mortgage Loans [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 8,957,757 | 8,466,843 | |
Total Impaired Portfolio [Member] | Consumer Loans In Installments [Member] | Consumer Loans [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 2,910,742 | 2,722,365 | |
Total Impaired Portfolio [Member] | Credit Card Debtors [Member] | Consumer Loans [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 1,364,980 | 1,448,118 | |
Total Impaired Portfolio [Member] | Current Account Debtors Consumer Loans [Member] | Consumer Loans [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | 4,715 | 5,117 | |
Total Impaired Portfolio [Member] | Other Consumer Loans [Member] | Consumer Loans [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before Allowances | $ 277,255 | $ 271,203 |
LOANS AND ACCOUNTS RECEIVABL111
LOANS AND ACCOUNTS RECEIVABLE FROM CUSTOMERS (Details 1) - CLP ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of financial assets [line items] | |||
Assets before allowances | $ 27,725,914 | $ 27,206,431 | |
Distribution percentage | 100.00% | 1.00% | |
Commercial loans [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before allowances | $ 14,071,327 | $ 14,140,272 | |
Distribution percentage | 50.75% | 51.98% | |
Commercial loans [Member] | Manufacturing [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before allowances | $ 1,218,232 | $ 1,180,886 | |
Distribution percentage | 4.39% | 4.34% | |
Commercial loans [Member] | Mining [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before allowances | $ 302,037 | $ 340,554 | |
Distribution percentage | 1.09% | 1.25% | |
Commercial loans [Member] | Electricity, Gas and Water [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before allowances | $ 336,048 | $ 442,936 | |
Distribution percentage | 1.21% | 1.63% | |
Commercial loans [Member] | Agriculture and Livestock [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before allowances | $ 1,114,597 | $ 1,096,659 | |
Distribution percentage | 4.02% | 4.03% | |
Commercial loans [Member] | Forest [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before allowances | $ 98,941 | $ 96,806 | |
Distribution percentage | 0.36% | 0.36% | |
Commercial loans [Member] | Fishing [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before allowances | $ 215,994 | $ 296,592 | |
Distribution percentage | 0.78% | 1.09% | |
Commercial loans [Member] | Transportation and Telecom [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before allowances | $ 697,948 | $ 787,510 | |
Distribution percentage | 2.52% | 2.89% | |
Commercial loans [Member] | Communications [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before allowances | $ 168,744 | $ 196,934 | |
Distribution percentage | 0.61% | 0.72% | |
Commercial loans [Member] | Construction [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before allowances | $ 1,977,417 | $ 1,792,485 | |
Distribution percentage | 7.13% | 6.59% | |
Commercial loans [Member] | Commerce Industry [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before allowances | $ 3,294,555 | $ 3,393,133 | |
Distribution percentage | 11.88% | 12.47% | |
Commercial loans [Member] | Services [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before allowances | $ 467,747 | $ 482,900 | |
Distribution percentage | 1.69% | 1.77% | |
Commercial loans [Member] | Other [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before allowances | $ 4,179,067 | $ 4,032,877 | |
Distribution percentage | 15.07% | 14.84% | |
Mortgage Loans [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before allowances | $ 9,096,895 | $ 8,619,356 | |
Distribution percentage | 32.81% | 31.68% | |
Consumer Loans [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before allowances | $ 4,557,692 | $ 4,446,803 | |
Distribution percentage | 16.43% | 16.34% | |
Domestic Loans [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before allowances | [1] | $ 27,563,229 | $ 26,933,698 |
Domestic Loans [Member] | Commercial loans [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before allowances | [1] | 13,908,642 | 13,867,539 |
Domestic Loans [Member] | Commercial loans [Member] | Manufacturing [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before allowances | [1] | 1,218,232 | 1,180,886 |
Domestic Loans [Member] | Commercial loans [Member] | Mining [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before allowances | [1] | 302,037 | 340,554 |
Domestic Loans [Member] | Commercial loans [Member] | Electricity, Gas and Water [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before allowances | [1] | 336,048 | 442,936 |
Domestic Loans [Member] | Commercial loans [Member] | Agriculture and Livestock [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before allowances | [1] | 1,114,597 | 1,096,659 |
Domestic Loans [Member] | Commercial loans [Member] | Forest [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before allowances | [1] | 98,941 | 96,806 |
Domestic Loans [Member] | Commercial loans [Member] | Fishing [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before allowances | [1] | 215,994 | 296,592 |
Domestic Loans [Member] | Commercial loans [Member] | Transportation and Telecom [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before allowances | [1] | 697,948 | 787,510 |
Domestic Loans [Member] | Commercial loans [Member] | Communications [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before allowances | [1] | 168,744 | 196,934 |
Domestic Loans [Member] | Commercial loans [Member] | Construction [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before allowances | [1] | 1,977,417 | 1,792,485 |
Domestic Loans [Member] | Commercial loans [Member] | Commerce Industry [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before allowances | [1] | 3,131,870 | 3,120,400 |
Domestic Loans [Member] | Commercial loans [Member] | Services [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before allowances | [1] | 467,747 | 482,900 |
Domestic Loans [Member] | Commercial loans [Member] | Other [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before allowances | [1] | 4,179,067 | 4,032,877 |
Domestic Loans [Member] | Mortgage Loans [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before allowances | [1] | 9,096,895 | 8,619,356 |
Domestic Loans [Member] | Consumer Loans [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before allowances | [1] | 4,557,692 | 4,446,803 |
Foreign Interbank Loans [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before allowances | 162,685 | 272,733 | |
Foreign Interbank Loans [Member] | Commercial loans [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before allowances | 162,685 | 272,733 | |
Foreign Interbank Loans [Member] | Commercial loans [Member] | Manufacturing [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before allowances | |||
Foreign Interbank Loans [Member] | Commercial loans [Member] | Mining [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before allowances | |||
Foreign Interbank Loans [Member] | Commercial loans [Member] | Electricity, Gas and Water [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before allowances | |||
Foreign Interbank Loans [Member] | Commercial loans [Member] | Agriculture and Livestock [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before allowances | |||
Foreign Interbank Loans [Member] | Commercial loans [Member] | Forest [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before allowances | |||
Foreign Interbank Loans [Member] | Commercial loans [Member] | Fishing [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before allowances | |||
Foreign Interbank Loans [Member] | Commercial loans [Member] | Transportation and Telecom [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before allowances | |||
Foreign Interbank Loans [Member] | Commercial loans [Member] | Communications [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before allowances | |||
Foreign Interbank Loans [Member] | Commercial loans [Member] | Construction [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before allowances | |||
Foreign Interbank Loans [Member] | Commercial loans [Member] | Commerce Industry [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before allowances | |||
Foreign Interbank Loans [Member] | Commercial loans [Member] | Services [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before allowances | 162,685 | 272,733 | |
Foreign Interbank Loans [Member] | Commercial loans [Member] | Other [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before allowances | |||
Foreign Interbank Loans [Member] | Mortgage Loans [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before allowances | |||
Foreign Interbank Loans [Member] | Consumer Loans [Member] | |||
Disclosure of financial assets [line items] | |||
Assets before allowances | |||
[1] | Includes domestic interbank loans for Ch$ 0 million as of December 31, 2017 (Ch$74 million as of December 31, 2016), see Note 8. |
LOANS AND ACCOUNTS RECEIVABL112
LOANS AND ACCOUNTS RECEIVABLE FROM CUSTOMERS (Details 2) - CLP ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Impaired Portfolio [Member] | ||
Disclosure of financial assets [line items] | ||
Total | $ 427,890 | $ 439,707 |
Impaired Portfolio [Member] | Commercial loans [Member] | ||
Disclosure of financial assets [line items] | ||
Total | 427,890 | 439,707 |
Impaired Portfolio [Member] | Mortgage Loans [Member] | ||
Disclosure of financial assets [line items] | ||
Total | ||
Impaired Portfolio [Member] | Consumer Loans [Member] | ||
Disclosure of financial assets [line items] | ||
Total | ||
Non-performing Loans (collectively evaluated) [Member] | ||
Disclosure of financial assets [line items] | ||
Total | 633,461 | 564,131 |
Non-performing Loans (collectively evaluated) [Member] | Commercial loans [Member] | ||
Disclosure of financial assets [line items] | ||
Total | 368,522 | 316,838 |
Non-performing Loans (collectively evaluated) [Member] | Mortgage Loans [Member] | ||
Disclosure of financial assets [line items] | ||
Total | 161,768 | 147,572 |
Non-performing Loans (collectively evaluated) [Member] | Consumer Loans [Member] | ||
Disclosure of financial assets [line items] | ||
Total | 103,171 | 99,721 |
Other Impaired Portfolio [Member] | ||
Disclosure of financial assets [line items] | ||
Total | 741,822 | 611,603 |
Other Impaired Portfolio [Member] | Commercial loans [Member] | ||
Disclosure of financial assets [line items] | ||
Total | 217,091 | 172,624 |
Other Impaired Portfolio [Member] | Mortgage Loans [Member] | ||
Disclosure of financial assets [line items] | ||
Total | 300,776 | 250,116 |
Other Impaired Portfolio [Member] | Consumer Loans [Member] | ||
Disclosure of financial assets [line items] | ||
Total | 223,955 | 188,863 |
Total Impaired Portfolio [Member] | ||
Disclosure of financial assets [line items] | ||
Total | 1,803,173 | 1,615,441 |
Total Impaired Portfolio [Member] | Commercial loans [Member] | ||
Disclosure of financial assets [line items] | ||
Total | 1,013,503 | 929,169 |
Total Impaired Portfolio [Member] | Mortgage Loans [Member] | ||
Disclosure of financial assets [line items] | ||
Total | 462,544 | 397,688 |
Total Impaired Portfolio [Member] | Consumer Loans [Member] | ||
Disclosure of financial assets [line items] | ||
Total | $ 327,126 | $ 288,584 |
LOANS AND ACCOUNTS RECEIVABL113
LOANS AND ACCOUNTS RECEIVABLE FROM CUSTOMERS (Details 3) - Total Impaired Portfolio [Member] - CLP ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of financial assets [line items] | ||
Total | $ 1,803,173 | $ 1,615,441 |
SecuredDebt [Member] | ||
Disclosure of financial assets [line items] | ||
Total | 1,030,533 | 912,275 |
UnsecuredDebt [Member] | ||
Disclosure of financial assets [line items] | ||
Total | 772,640 | 703,166 |
Commercial loans [Member] | ||
Disclosure of financial assets [line items] | ||
Total | 1,013,503 | 929,169 |
Commercial loans [Member] | SecuredDebt [Member] | ||
Disclosure of financial assets [line items] | ||
Total | 582,557 | 519,821 |
Commercial loans [Member] | UnsecuredDebt [Member] | ||
Disclosure of financial assets [line items] | ||
Total | 430,946 | 409,348 |
Mortgage Loans [Member] | ||
Disclosure of financial assets [line items] | ||
Total | 462,544 | 397,688 |
Mortgage Loans [Member] | SecuredDebt [Member] | ||
Disclosure of financial assets [line items] | ||
Total | 413,716 | 357,320 |
Mortgage Loans [Member] | UnsecuredDebt [Member] | ||
Disclosure of financial assets [line items] | ||
Total | 48,828 | 40,368 |
Consumer Loans [Member] | ||
Disclosure of financial assets [line items] | ||
Total | 327,126 | 288,584 |
Consumer Loans [Member] | SecuredDebt [Member] | ||
Disclosure of financial assets [line items] | ||
Total | 34,260 | 35,134 |
Consumer Loans [Member] | UnsecuredDebt [Member] | ||
Disclosure of financial assets [line items] | ||
Total | $ 292,866 | $ 253,450 |
LOANS AND ACCOUNTS RECEIVABL114
LOANS AND ACCOUNTS RECEIVABLE FROM CUSTOMERS (Details 4) - Non-performing Loans (collectively evaluated) [Member] - CLP ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of financial assets [line items] | ||
Total | $ 633,461 | $ 564,131 |
SecuredDebt [Member] | ||
Disclosure of financial assets [line items] | ||
Total | 318,218 | 298,537 |
UnsecuredDebt [Member] | ||
Disclosure of financial assets [line items] | ||
Total | 315,243 | 265,594 |
Commercial loans [Member] | ||
Disclosure of financial assets [line items] | ||
Total | 368,522 | 316,838 |
Commercial loans [Member] | SecuredDebt [Member] | ||
Disclosure of financial assets [line items] | ||
Total | 167,909 | 159,965 |
Commercial loans [Member] | UnsecuredDebt [Member] | ||
Disclosure of financial assets [line items] | ||
Total | 200,613 | 156,873 |
Mortgage Loans [Member] | ||
Disclosure of financial assets [line items] | ||
Total | 161,768 | 147,572 |
Mortgage Loans [Member] | SecuredDebt [Member] | ||
Disclosure of financial assets [line items] | ||
Total | 141,413 | 129,632 |
Mortgage Loans [Member] | UnsecuredDebt [Member] | ||
Disclosure of financial assets [line items] | ||
Total | 20,355 | 17,940 |
Consumer Loans [Member] | ||
Disclosure of financial assets [line items] | ||
Total | 103,171 | 99,721 |
Consumer Loans [Member] | SecuredDebt [Member] | ||
Disclosure of financial assets [line items] | ||
Total | 8,896 | 8,940 |
Consumer Loans [Member] | UnsecuredDebt [Member] | ||
Disclosure of financial assets [line items] | ||
Total | $ 94,275 | $ 90,781 |
LOANS AND ACCOUNTS RECEIVABL115
LOANS AND ACCOUNTS RECEIVABLE FROM CUSTOMERS (Details 5) - Non-performing Loans (collectively evaluated) [Member] - CLP ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of financial assets [line items] | ||
Total | $ 633,461 | $ 564,131 |
Up to 3 Months [Member] | ||
Disclosure of financial assets [line items] | ||
Total | 614,774 | 541,297 |
Less Than 90 Days [Member] | ||
Disclosure of financial assets [line items] | ||
Total | 18,687 | 22,834 |
Commercial loans [Member] | ||
Disclosure of financial assets [line items] | ||
Total | 368,522 | 316,838 |
Commercial loans [Member] | Up to 3 Months [Member] | ||
Disclosure of financial assets [line items] | ||
Total | 362,968 | 311,755 |
Commercial loans [Member] | Less Than 90 Days [Member] | ||
Disclosure of financial assets [line items] | ||
Total | 5,554 | 5,083 |
Consumer Loans [Member] | ||
Disclosure of financial assets [line items] | ||
Total | 103,171 | 99,721 |
Consumer Loans [Member] | Up to 3 Months [Member] | ||
Disclosure of financial assets [line items] | ||
Total | 92,541 | 84,458 |
Consumer Loans [Member] | Less Than 90 Days [Member] | ||
Disclosure of financial assets [line items] | ||
Total | 10,630 | 15,263 |
Mortgage loans [Member] | ||
Disclosure of financial assets [line items] | ||
Total | 161,768 | 147,572 |
Mortgage loans [Member] | Up to 3 Months [Member] | ||
Disclosure of financial assets [line items] | ||
Total | 159,265 | 145,084 |
Mortgage loans [Member] | Less Than 90 Days [Member] | ||
Disclosure of financial assets [line items] | ||
Total | $ 2,503 | $ 2,488 |
LOANS AND ACCOUNTS RECEIVABL116
LOANS AND ACCOUNTS RECEIVABLE FROM CUSTOMERS (Details 6) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | ||
Changes in allowance account for credit losses of financial assets [Roll Forward] | |||
Balance Beginning | $ 7,558 | ||
Balance End | 1,440 | $ 7,558 | |
Total Provision [Member] | |||
Changes in allowance account for credit losses of financial assets [Roll Forward] | |||
Balance Beginning | 786,470 | 761,135 | |
Allowances established | [1] | 508,998 | 526,293 |
Allowances released | [2] | (133,932) | (122,651) |
Charge-offs | [3] | (370,851) | (378,307) |
Balance End | 790,685 | 786,470 | |
Commercial loans [Member] | Individual Allowance [Member] | |||
Changes in allowance account for credit losses of financial assets [Roll Forward] | |||
Balance Beginning | 246,336 | 256,505 | |
Allowances established | [1] | 64,658 | 61,002 |
Allowances released | [2] | (55,925) | (43,183) |
Charge-offs | [3] | (36,279) | (27,988) |
Balance End | 218,790 | 246,336 | |
Commercial loans [Member] | Group Allowance [Member] | |||
Changes in allowance account for credit losses of financial assets [Roll Forward] | |||
Balance Beginning | 183,106 | 174,696 | |
Allowances established | [1] | 148,681 | 133,855 |
Allowances released | [2] | (20,491) | (14,432) |
Charge-offs | [3] | (92,223) | (111,013) |
Balance End | 219,073 | 183,106 | |
Mortgage Loans [Member] | |||
Changes in allowance account for credit losses of financial assets [Roll Forward] | |||
Balance Beginning | 57,009 | 62,427 | |
Allowances established | [1] | 43,621 | 50,892 |
Allowances released | [2] | (11,427) | (34,246) |
Charge-offs | [3] | (20,137) | (22,064) |
Balance End | 69,066 | 57,009 | |
Consumer Loans [Member] | |||
Changes in allowance account for credit losses of financial assets [Roll Forward] | |||
Balance Beginning | 300,019 | 267,507 | |
Allowances established | [1] | 252,038 | 280,544 |
Allowances released | [2] | (46,089) | (30,790) |
Charge-offs | [3] | (222,212) | (217,242) |
Balance End | $ 283,756 | $ 300,019 | |
[1] | Represents gross allowances made in respect of increased risk of loss during the period and loan growth. | ||
[2] | Represents the gross amount of loan loss allowances released during the year as a consequence of reduction in the level of risk existing in the loan portfolio, including as a result of improvement in the credit risk classification of borrowers and loans paid. | ||
[3] | Represents the gross amount of loan loss allowances removed due to charge-off. |
LOANS AND ACCOUNTS RECEIVABL117
LOANS AND ACCOUNTS RECEIVABLE FROM CUSTOMERS (Details 7) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of financial assets [line items] | |||
Total | $ 83,315 | $ 78,298 | $ 68,140 |
Commercial loans [Member] | |||
Disclosure of financial assets [line items] | |||
Total | 32,401 | 27,185 | 26,032 |
Consumer Loans [Member] | |||
Disclosure of financial assets [line items] | |||
Total | 39,972 | 41,072 | 35,565 |
Mortgage Loans [Member] | |||
Disclosure of financial assets [line items] | |||
Total | $ 10,942 | $ 10,041 | $ 6,543 |
LOANS AND ACCOUNTS RECEIVABL118
LOANS AND ACCOUNTS RECEIVABLE FROM CUSTOMERS (Details 8) - CLP ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Disclosure of financial assets [line items] | |||
Total | $ 509,305 | $ 529,345 | $ 546,413 |
Consumer Loans [Member] | |||
Disclosure of financial assets [line items] | |||
Total | 508,998 | 526,293 | 545,056 |
Interbank loans [Member] | |||
Disclosure of financial assets [line items] | |||
Total | $ 307 | $ 3,052 | $ 1,357 |
LOANS AND ACCOUNTS RECEIVABL119
LOANS AND ACCOUNTS RECEIVABLE FROM CUSTOMERS (Details 9) - CLP ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of financial assets [line items] | ||
Total portfolio before allowances | $ 27,725,914 | $ 27,206,431 |
Commercial loans [Member] | ||
Disclosure of financial assets [line items] | ||
Total portfolio before allowances | 14,071,327 | 14,140,272 |
Mortgage Loans [Member] | ||
Disclosure of financial assets [line items] | ||
Total portfolio before allowances | 9,096,895 | 8,619,356 |
Consumer Loans [Member] | ||
Disclosure of financial assets [line items] | ||
Total portfolio before allowances | 4,557,692 | 4,446,803 |
Non-Impaired Portfolio [Member] | ||
Disclosure of financial assets [line items] | ||
Total portfolio before allowances | $ 25,760,056 | $ 25,318,183 |
Overdue loans (less than 90 days) presented as portfolio percentage | 2.53% | 2.57% |
Overdue loans (90 days or more) presented as portfolio percentage | ||
Non-Impaired Portfolio [Member] | Current Portfolio [Member] | ||
Disclosure of financial assets [line items] | ||
Total portfolio before allowances | $ 25,107,730 | $ 24,667,787 |
Non-Impaired Portfolio [Member] | Overdue for 1-29 Days [Member] | ||
Disclosure of financial assets [line items] | ||
Total portfolio before allowances | 416,338 | 279,560 |
Non-Impaired Portfolio [Member] | Overdue for 30-89 Days [Member] | ||
Disclosure of financial assets [line items] | ||
Total portfolio before allowances | 235,988 | 370,836 |
Non-Impaired Portfolio [Member] | Overdue for 90 Days or more [Member] | ||
Disclosure of financial assets [line items] | ||
Total portfolio before allowances | ||
Non-Impaired Portfolio [Member] | Commercial loans [Member] | ||
Disclosure of financial assets [line items] | ||
Total portfolio before allowances | $ 12,895,139 | $ 12,938,296 |
Overdue loans (less than 90 days) presented as portfolio percentage | 122.00% | 1.33% |
Overdue loans (90 days or more) presented as portfolio percentage | ||
Non-Impaired Portfolio [Member] | Commercial loans [Member] | Current Portfolio [Member] | ||
Disclosure of financial assets [line items] | ||
Total portfolio before allowances | $ 12,737,508 | $ 12,765,961 |
Non-Impaired Portfolio [Member] | Commercial loans [Member] | Overdue for 1-29 Days [Member] | ||
Disclosure of financial assets [line items] | ||
Total portfolio before allowances | 103,908 | 97,302 |
Non-Impaired Portfolio [Member] | Commercial loans [Member] | Overdue for 30-89 Days [Member] | ||
Disclosure of financial assets [line items] | ||
Total portfolio before allowances | 53,723 | 75,033 |
Non-Impaired Portfolio [Member] | Commercial loans [Member] | Overdue for 90 Days or more [Member] | ||
Disclosure of financial assets [line items] | ||
Total portfolio before allowances | ||
Non-Impaired Portfolio [Member] | Mortgage Loans [Member] | ||
Disclosure of financial assets [line items] | ||
Total portfolio before allowances | $ 8,634,351 | $ 8,221,668 |
Overdue loans (less than 90 days) presented as portfolio percentage | 3.20% | 3.37% |
Overdue loans (90 days or more) presented as portfolio percentage | ||
Non-Impaired Portfolio [Member] | Mortgage Loans [Member] | Current Portfolio [Member] | ||
Disclosure of financial assets [line items] | ||
Total portfolio before allowances | $ 8,357,733 | $ 7,944,260 |
Non-Impaired Portfolio [Member] | Mortgage Loans [Member] | Overdue for 1-29 Days [Member] | ||
Disclosure of financial assets [line items] | ||
Total portfolio before allowances | 180,294 | 69,227 |
Non-Impaired Portfolio [Member] | Mortgage Loans [Member] | Overdue for 30-89 Days [Member] | ||
Disclosure of financial assets [line items] | ||
Total portfolio before allowances | 96,324 | 208,181 |
Non-Impaired Portfolio [Member] | Mortgage Loans [Member] | Overdue for 90 Days or more [Member] | ||
Disclosure of financial assets [line items] | ||
Total portfolio before allowances | ||
Non-Impaired Portfolio [Member] | Consumer Loans [Member] | ||
Disclosure of financial assets [line items] | ||
Total portfolio before allowances | $ 4,230,566 | $ 4,158,219 |
Overdue loans (less than 90 days) presented as portfolio percentage | 5.15% | 4.83% |
Overdue loans (90 days or more) presented as portfolio percentage | ||
Non-Impaired Portfolio [Member] | Consumer Loans [Member] | Current Portfolio [Member] | ||
Disclosure of financial assets [line items] | ||
Total portfolio before allowances | $ 4,012,489 | $ 3,957,566 |
Non-Impaired Portfolio [Member] | Consumer Loans [Member] | Overdue for 1-29 Days [Member] | ||
Disclosure of financial assets [line items] | ||
Total portfolio before allowances | 132,136 | 113,031 |
Non-Impaired Portfolio [Member] | Consumer Loans [Member] | Overdue for 30-89 Days [Member] | ||
Disclosure of financial assets [line items] | ||
Total portfolio before allowances | 85,941 | 87,622 |
Non-Impaired Portfolio [Member] | Consumer Loans [Member] | Overdue for 90 Days or more [Member] | ||
Disclosure of financial assets [line items] | ||
Total portfolio before allowances | ||
Impaired Portfolio [Member] | ||
Disclosure of financial assets [line items] | ||
Total portfolio before allowances | $ 1,803,173 | $ 1,614,813 |
Overdue loans (less than 90 days) presented as portfolio percentage | 26.04% | 23.31% |
Overdue loans (90 days or more) presented as portfolio percentage | 34.09% | 33.51% |
Impaired Portfolio [Member] | Current Portfolio [Member] | ||
Disclosure of financial assets [line items] | ||
Total portfolio before allowances | $ 718,849 | $ 697,662 |
Impaired Portfolio [Member] | Overdue for 1-29 Days [Member] | ||
Disclosure of financial assets [line items] | ||
Total portfolio before allowances | 231,189 | 81,297 |
Impaired Portfolio [Member] | Overdue for 30-89 Days [Member] | ||
Disclosure of financial assets [line items] | ||
Total portfolio before allowances | 238,361 | 295,185 |
Impaired Portfolio [Member] | Overdue for 90 Days or more [Member] | ||
Disclosure of financial assets [line items] | ||
Total portfolio before allowances | 614,774 | 541,297 |
Impaired Portfolio [Member] | Commercial loans [Member] | ||
Disclosure of financial assets [line items] | ||
Total portfolio before allowances | $ 1,013,503 | $ 928,541 |
Overdue loans (less than 90 days) presented as portfolio percentage | 19.80% | 16.60% |
Overdue loans (90 days or more) presented as portfolio percentage | 35.81% | 33.55% |
Impaired Portfolio [Member] | Commercial loans [Member] | Current Portfolio [Member] | ||
Disclosure of financial assets [line items] | ||
Total portfolio before allowances | $ 449,895 | $ 463,176 |
Impaired Portfolio [Member] | Commercial loans [Member] | Overdue for 1-29 Days [Member] | ||
Disclosure of financial assets [line items] | ||
Total portfolio before allowances | 110,834 | 35,777 |
Impaired Portfolio [Member] | Commercial loans [Member] | Overdue for 30-89 Days [Member] | ||
Disclosure of financial assets [line items] | ||
Total portfolio before allowances | 89,806 | 118,461 |
Impaired Portfolio [Member] | Commercial loans [Member] | Overdue for 90 Days or more [Member] | ||
Disclosure of financial assets [line items] | ||
Total portfolio before allowances | 362,968 | 311,755 |
Impaired Portfolio [Member] | Mortgage Loans [Member] | ||
Disclosure of financial assets [line items] | ||
Total portfolio before allowances | $ 462,544 | $ 397,688 |
Overdue loans (less than 90 days) presented as portfolio percentage | 31.24% | 29.87% |
Overdue loans (90 days or more) presented as portfolio percentage | 34.43% | 36.48% |
Impaired Portfolio [Member] | Mortgage Loans [Member] | Current Portfolio [Member] | ||
Disclosure of financial assets [line items] | ||
Total portfolio before allowances | $ 158,770 | $ 133,816 |
Impaired Portfolio [Member] | Mortgage Loans [Member] | Overdue for 1-29 Days [Member] | ||
Disclosure of financial assets [line items] | ||
Total portfolio before allowances | 74,072 | 12,984 |
Impaired Portfolio [Member] | Mortgage Loans [Member] | Overdue for 30-89 Days [Member] | ||
Disclosure of financial assets [line items] | ||
Total portfolio before allowances | 70,437 | 105,804 |
Impaired Portfolio [Member] | Mortgage Loans [Member] | Overdue for 90 Days or more [Member] | ||
Disclosure of financial assets [line items] | ||
Total portfolio before allowances | 159,265 | 145,084 |
Impaired Portfolio [Member] | Consumer Loans [Member] | ||
Disclosure of financial assets [line items] | ||
Total portfolio before allowances | $ 327,126 | $ 288,584 |
Overdue loans (less than 90 days) presented as portfolio percentage | 38.03% | 35.85% |
Overdue loans (90 days or more) presented as portfolio percentage | 28.29% | 29.27% |
Impaired Portfolio [Member] | Consumer Loans [Member] | Current Portfolio [Member] | ||
Disclosure of financial assets [line items] | ||
Total portfolio before allowances | $ 110,184 | $ 100,670 |
Impaired Portfolio [Member] | Consumer Loans [Member] | Overdue for 1-29 Days [Member] | ||
Disclosure of financial assets [line items] | ||
Total portfolio before allowances | 46,283 | 32,536 |
Impaired Portfolio [Member] | Consumer Loans [Member] | Overdue for 30-89 Days [Member] | ||
Disclosure of financial assets [line items] | ||
Total portfolio before allowances | 78,118 | 70,920 |
Impaired Portfolio [Member] | Consumer Loans [Member] | Overdue for 90 Days or more [Member] | ||
Disclosure of financial assets [line items] | ||
Total portfolio before allowances | 92,541 | 84,458 |
Total Impaired Portfolio [Member] | ||
Disclosure of financial assets [line items] | ||
Total portfolio before allowances | $ 27,563,229 | $ 26,933,624 |
Overdue loans (less than 90 days) presented as portfolio percentage | 4.07% | 3.81% |
Overdue loans (90 days or more) presented as portfolio percentage | 2.23% | 2.01% |
Total Impaired Portfolio [Member] | Current Portfolio [Member] | ||
Disclosure of financial assets [line items] | ||
Total portfolio before allowances | $ 25,826,579 | $ 25,365,449 |
Total Impaired Portfolio [Member] | Overdue for 1-29 Days [Member] | ||
Disclosure of financial assets [line items] | ||
Total portfolio before allowances | 647,527 | 360,857 |
Total Impaired Portfolio [Member] | Overdue for 30-89 Days [Member] | ||
Disclosure of financial assets [line items] | ||
Total portfolio before allowances | 474,349 | 666,021 |
Total Impaired Portfolio [Member] | Overdue for 90 Days or more [Member] | ||
Disclosure of financial assets [line items] | ||
Total portfolio before allowances | 614,774 | 541,297 |
Total Impaired Portfolio [Member] | Commercial loans [Member] | ||
Disclosure of financial assets [line items] | ||
Total portfolio before allowances | $ 13,908,642 | $ 13,867,465 |
Overdue loans (less than 90 days) presented as portfolio percentage | 2.58% | 2.35% |
Overdue loans (90 days or more) presented as portfolio percentage | 2.61% | 2.25% |
Total Impaired Portfolio [Member] | Commercial loans [Member] | Current Portfolio [Member] | ||
Disclosure of financial assets [line items] | ||
Total portfolio before allowances | $ 13,187,403 | $ 13,229,137 |
Total Impaired Portfolio [Member] | Commercial loans [Member] | Overdue for 1-29 Days [Member] | ||
Disclosure of financial assets [line items] | ||
Total portfolio before allowances | 214,742 | 133,079 |
Total Impaired Portfolio [Member] | Commercial loans [Member] | Overdue for 30-89 Days [Member] | ||
Disclosure of financial assets [line items] | ||
Total portfolio before allowances | 143,529 | 193,494 |
Total Impaired Portfolio [Member] | Commercial loans [Member] | Overdue for 90 Days or more [Member] | ||
Disclosure of financial assets [line items] | ||
Total portfolio before allowances | 362,968 | 311,755 |
Total Impaired Portfolio [Member] | Mortgage Loans [Member] | ||
Disclosure of financial assets [line items] | ||
Total portfolio before allowances | $ 9,096,895 | $ 8,619,356 |
Overdue loans (less than 90 days) presented as portfolio percentage | 4.63% | 4.60% |
Overdue loans (90 days or more) presented as portfolio percentage | 1.75% | 1.68% |
Total Impaired Portfolio [Member] | Mortgage Loans [Member] | Current Portfolio [Member] | ||
Disclosure of financial assets [line items] | ||
Total portfolio before allowances | $ 8,516,503 | $ 8,078,076 |
Total Impaired Portfolio [Member] | Mortgage Loans [Member] | Overdue for 1-29 Days [Member] | ||
Disclosure of financial assets [line items] | ||
Total portfolio before allowances | 254,366 | 82,211 |
Total Impaired Portfolio [Member] | Mortgage Loans [Member] | Overdue for 30-89 Days [Member] | ||
Disclosure of financial assets [line items] | ||
Total portfolio before allowances | 166,761 | 313,985 |
Total Impaired Portfolio [Member] | Mortgage Loans [Member] | Overdue for 90 Days or more [Member] | ||
Disclosure of financial assets [line items] | ||
Total portfolio before allowances | 159,265 | 145,084 |
Total Impaired Portfolio [Member] | Consumer Loans [Member] | ||
Disclosure of financial assets [line items] | ||
Total portfolio before allowances | $ 4,557,692 | $ 4,446,803 |
Overdue loans (less than 90 days) presented as portfolio percentage | 7.51% | 6.84% |
Overdue loans (90 days or more) presented as portfolio percentage | 2.03% | 1.90% |
Total Impaired Portfolio [Member] | Consumer Loans [Member] | Current Portfolio [Member] | ||
Disclosure of financial assets [line items] | ||
Total portfolio before allowances | $ 4,122,673 | $ 4,058,236 |
Total Impaired Portfolio [Member] | Consumer Loans [Member] | Overdue for 1-29 Days [Member] | ||
Disclosure of financial assets [line items] | ||
Total portfolio before allowances | 178,419 | 145,567 |
Total Impaired Portfolio [Member] | Consumer Loans [Member] | Overdue for 30-89 Days [Member] | ||
Disclosure of financial assets [line items] | ||
Total portfolio before allowances | 164,059 | 158,542 |
Total Impaired Portfolio [Member] | Consumer Loans [Member] | Overdue for 90 Days or more [Member] | ||
Disclosure of financial assets [line items] | ||
Total portfolio before allowances | $ 92,541 | $ 84,458 |
LOANS AND ACCOUNTS RECEIVABL120
LOANS AND ACCOUNTS RECEIVABLE FROM CUSTOMERS (Details 10) - Non-performing Loans (collectively evaluated) [Member] - CLP ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of financial assets [line items] | ||
Overdue loans | $ 614,774 | $ 541,297 |
Loans with not overdue but classified as non-performing loans | 18,687 | 22,834 |
Total | 633,461 | 564,131 |
Commercial loans [Member] | ||
Disclosure of financial assets [line items] | ||
Overdue loans | 362,968 | 311,755 |
Loans with not overdue but classified as non-performing loans | 5,554 | 5,083 |
Total | 368,522 | 316,838 |
Mortgage Loans [Member] | ||
Disclosure of financial assets [line items] | ||
Overdue loans | 159,265 | 145,084 |
Loans with not overdue but classified as non-performing loans | 2,503 | 2,488 |
Total | 161,768 | 147,572 |
Consumer Loans [Member] | ||
Disclosure of financial assets [line items] | ||
Overdue loans | 92,541 | 84,458 |
Loans with not overdue but classified as non-performing loans | 10,630 | 15,263 |
Total | $ 103,171 | $ 99,721 |
AVAILABLE FOR SALE INVESTMEN121
AVAILABLE FOR SALE INVESTMENTS (Details) - CLP ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of financial assets [line items] | ||
Total | $ 2,574,546 | $ 3,388,906 |
Other Chilean securities [Member] | ||
Disclosure of financial assets [line items] | ||
Total | 27,673 | 918,488 |
Foreign Financial Securities [Member] | ||
Disclosure of financial assets [line items] | ||
Total | 284,072 | 726,944 |
Time deposits in Chilean financial institutions [Member] | Other Chilean securities [Member] | ||
Disclosure of financial assets [line items] | ||
Total | 2,361 | 891,320 |
Mortgage finance bonds of Chilean financial institutions [Member] | Other Chilean securities [Member] | ||
Disclosure of financial assets [line items] | ||
Total | 22,312 | 25,488 |
Foreign Central Banks and Government securities [Member] | Foreign Financial Securities [Member] | ||
Disclosure of financial assets [line items] | ||
Total | 132,822 | 387,146 |
Other foreign financial instruments [Member] | Foreign Financial Securities [Member] | ||
Disclosure of financial assets [line items] | ||
Total | 151,250 | 339,798 |
Other Instruments Issued in The Country [Member] | Other Chilean securities [Member] | ||
Disclosure of financial assets [line items] | ||
Total | 3,000 | 1,680 |
Chilean Central Bank & Government Securities [Member] | ||
Disclosure of financial assets [line items] | ||
Total | 2,262,801 | 1,743,474 |
Chilean Central Bank & Government Securities [Member] | Chilean Central Bank Bonds [Member] | ||
Disclosure of financial assets [line items] | ||
Total | 816,331 | 468,386 |
Chilean Central Bank & Government Securities [Member] | Chilean Central Bank Notes [Member] | ||
Disclosure of financial assets [line items] | ||
Total | 330,952 | 1,222,283 |
Chilean Central Bank & Government Securities [Member] | Other Chilean Central Bank and Government securities [Member] | ||
Disclosure of financial assets [line items] | ||
Total | $ 1,115,518 | $ 52,805 |
AVAILABLE FOR SALE INVESTMEN122
AVAILABLE FOR SALE INVESTMENTS (Details 1) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Available For Sale Investments | |||
Sale of available for sale investments generating realized profits | $ 6,469,344 | $ 6,522,549 | $ 2,627,490 |
Realized profits | 4,867 | 12,333 | 22,473 |
Sale of available for sale investments generating realized losses | 466,732 | 346,906 | 346,450 |
Realized losses | $ 3 | $ 132 | $ 72 |
AVAILABLE FOR SALE INVESTMEN123
AVAILABLE FOR SALE INVESTMENTS (Details 2) - CLP ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of financial assets [line items] | ||
Available for sale investments acquisition cost | $ 2,572,691 | $ 3,381,531 |
Available for sale investments fair value | 2,574,546 | 3,388,906 |
Available for sale investments unrealized profit | 13,672 | 9,790 |
Available for sale investments unrealized loss | (11,817) | (2,415) |
Other Chilean securities [Member] | ||
Disclosure of financial assets [line items] | ||
Available for sale investments acquisition cost | 24,448 | 916,517 |
Available for sale investments fair value | 27,673 | 918,488 |
Available for sale investments unrealized profit | 3,225 | 2,037 |
Available for sale investments unrealized loss | (66) | |
Foreign Financial Securities [Member] | ||
Disclosure of financial assets [line items] | ||
Available for sale investments acquisition cost | 283,709 | 728,547 |
Available for sale investments fair value | 284,072 | 726,944 |
Available for sale investments unrealized profit | 1,944 | 724 |
Available for sale investments unrealized loss | (1,582) | (2,327) |
Due within 1 year [Member] | ||
Disclosure of financial assets [line items] | ||
Available for sale investments acquisition cost | 2,572,691 | 3,381,531 |
Available for sale investments fair value | 2,574,546 | 3,388,906 |
Available for sale investments unrealized profit | 13,672 | 9,790 |
Available for sale investments unrealized loss | (11,817) | (2,415) |
Due within 1 year [Member] | Other Chilean securities [Member] | ||
Disclosure of financial assets [line items] | ||
Available for sale investments acquisition cost | 24,448 | 916,517 |
Available for sale investments fair value | 27,673 | 918,488 |
Available for sale investments unrealized profit | 3,225 | 2,037 |
Available for sale investments unrealized loss | (66) | |
Due within 1 year [Member] | Foreign Financial Securities [Member] | ||
Disclosure of financial assets [line items] | ||
Available for sale investments acquisition cost | 283,709 | 728,547 |
Available for sale investments fair value | 284,072 | 726,944 |
Available for sale investments unrealized profit | 1,944 | 724 |
Available for sale investments unrealized loss | (1,582) | (2,327) |
More than 1 Year [Member] | ||
Disclosure of financial assets [line items] | ||
Available for sale investments acquisition cost | ||
Available for sale investments fair value | ||
Available for sale investments unrealized profit | ||
Available for sale investments unrealized loss | ||
More than 1 Year [Member] | Other Chilean securities [Member] | ||
Disclosure of financial assets [line items] | ||
Available for sale investments acquisition cost | ||
Available for sale investments fair value | ||
Available for sale investments unrealized profit | ||
Available for sale investments unrealized loss | ||
More than 1 Year [Member] | Foreign Financial Securities [Member] | ||
Disclosure of financial assets [line items] | ||
Available for sale investments acquisition cost | ||
Available for sale investments fair value | ||
Available for sale investments unrealized profit | ||
Available for sale investments unrealized loss | ||
Time deposits in Chilean financial institutions [Member] | Other Chilean securities [Member] | ||
Disclosure of financial assets [line items] | ||
Available for sale investments acquisition cost | 2,361 | 891,276 |
Available for sale investments fair value | 2,361 | 891,320 |
Available for sale investments unrealized profit | 108 | |
Available for sale investments unrealized loss | (64) | |
Time deposits in Chilean financial institutions [Member] | Due within 1 year [Member] | Other Chilean securities [Member] | ||
Disclosure of financial assets [line items] | ||
Available for sale investments acquisition cost | 2,361 | 891,276 |
Available for sale investments fair value | 2,361 | 891,320 |
Available for sale investments unrealized profit | 108 | |
Available for sale investments unrealized loss | (64) | |
Time deposits in Chilean financial institutions [Member] | More than 1 Year [Member] | Other Chilean securities [Member] | ||
Disclosure of financial assets [line items] | ||
Available for sale investments acquisition cost | ||
Available for sale investments fair value | ||
Available for sale investments unrealized profit | ||
Available for sale investments unrealized loss | ||
Mortgage finance bonds of Chilean financial institutions [Member] | Other Chilean securities [Member] | ||
Disclosure of financial assets [line items] | ||
Available for sale investments acquisition cost | 21,867 | 25,021 |
Available for sale investments fair value | 22,312 | 25,488 |
Available for sale investments unrealized profit | 445 | 469 |
Available for sale investments unrealized loss | (2) | |
Mortgage finance bonds of Chilean financial institutions [Member] | Due within 1 year [Member] | Other Chilean securities [Member] | ||
Disclosure of financial assets [line items] | ||
Available for sale investments acquisition cost | 21,867 | 25,021 |
Available for sale investments fair value | 22,312 | 25,488 |
Available for sale investments unrealized profit | 445 | 469 |
Available for sale investments unrealized loss | (2) | |
Mortgage finance bonds of Chilean financial institutions [Member] | More than 1 Year [Member] | Other Chilean securities [Member] | ||
Disclosure of financial assets [line items] | ||
Available for sale investments acquisition cost | ||
Available for sale investments fair value | ||
Available for sale investments unrealized profit | ||
Available for sale investments unrealized loss | ||
Chilean financial institution bonds [Member] | Other Chilean securities [Member] | ||
Disclosure of financial assets [line items] | ||
Available for sale investments acquisition cost | ||
Available for sale investments fair value | ||
Available for sale investments unrealized profit | ||
Available for sale investments unrealized loss | ||
Chilean financial institution bonds [Member] | Due within 1 year [Member] | Other Chilean securities [Member] | ||
Disclosure of financial assets [line items] | ||
Available for sale investments acquisition cost | ||
Available for sale investments fair value | ||
Available for sale investments unrealized profit | ||
Available for sale investments unrealized loss | ||
Chilean financial institution bonds [Member] | More than 1 Year [Member] | Other Chilean securities [Member] | ||
Disclosure of financial assets [line items] | ||
Available for sale investments acquisition cost | ||
Available for sale investments fair value | ||
Available for sale investments unrealized profit | ||
Available for sale investments unrealized loss | ||
Chilean corporate bonds [Member] | Other Chilean securities [Member] | ||
Disclosure of financial assets [line items] | ||
Available for sale investments acquisition cost | ||
Available for sale investments fair value | ||
Available for sale investments unrealized profit | ||
Available for sale investments unrealized loss | ||
Chilean corporate bonds [Member] | Due within 1 year [Member] | Other Chilean securities [Member] | ||
Disclosure of financial assets [line items] | ||
Available for sale investments acquisition cost | ||
Available for sale investments fair value | ||
Available for sale investments unrealized profit | ||
Available for sale investments unrealized loss | ||
Chilean corporate bonds [Member] | More than 1 Year [Member] | Other Chilean securities [Member] | ||
Disclosure of financial assets [line items] | ||
Available for sale investments acquisition cost | ||
Available for sale investments fair value | ||
Available for sale investments unrealized profit | ||
Available for sale investments unrealized loss | ||
Other Chilean securities [Member] | Other Chilean securities [Member] | ||
Disclosure of financial assets [line items] | ||
Available for sale investments acquisition cost | 220 | 220 |
Available for sale investments fair value | 3,000 | 1,680 |
Available for sale investments unrealized profit | 2,780 | 1,460 |
Available for sale investments unrealized loss | ||
Other Chilean securities [Member] | Due within 1 year [Member] | Other Chilean securities [Member] | ||
Disclosure of financial assets [line items] | ||
Available for sale investments acquisition cost | 220 | 220 |
Available for sale investments fair value | 3,000 | 1,680 |
Available for sale investments unrealized profit | 2,780 | 1,460 |
Available for sale investments unrealized loss | ||
Other Chilean securities [Member] | More than 1 Year [Member] | Other Chilean securities [Member] | ||
Disclosure of financial assets [line items] | ||
Available for sale investments acquisition cost | ||
Available for sale investments fair value | ||
Available for sale investments unrealized profit | ||
Available for sale investments unrealized loss | ||
Foreign Central Banks and Government securities [Member] | Foreign Financial Securities [Member] | ||
Disclosure of financial assets [line items] | ||
Available for sale investments acquisition cost | 133,301 | 387,077 |
Available for sale investments fair value | 132,822 | 387,146 |
Available for sale investments unrealized profit | 847 | 69 |
Available for sale investments unrealized loss | (1,326) | |
Foreign Central Banks and Government securities [Member] | Due within 1 year [Member] | Foreign Financial Securities [Member] | ||
Disclosure of financial assets [line items] | ||
Available for sale investments acquisition cost | 133,301 | 387,077 |
Available for sale investments fair value | 132,822 | 387,146 |
Available for sale investments unrealized profit | 847 | 69 |
Available for sale investments unrealized loss | (1,326) | |
Foreign Central Banks and Government securities [Member] | More than 1 Year [Member] | Foreign Financial Securities [Member] | ||
Disclosure of financial assets [line items] | ||
Available for sale investments acquisition cost | ||
Available for sale investments fair value | ||
Available for sale investments unrealized profit | ||
Available for sale investments unrealized loss | ||
Other foreign financial instruments [Member] | Foreign Financial Securities [Member] | ||
Disclosure of financial assets [line items] | ||
Available for sale investments acquisition cost | 150,408 | 341,470 |
Available for sale investments fair value | 151,250 | 339,798 |
Available for sale investments unrealized profit | 1,097 | 655 |
Available for sale investments unrealized loss | (256) | (2,327) |
Other foreign financial instruments [Member] | Due within 1 year [Member] | Foreign Financial Securities [Member] | ||
Disclosure of financial assets [line items] | ||
Available for sale investments acquisition cost | 150,408 | 341,470 |
Available for sale investments fair value | 151,250 | 339,798 |
Available for sale investments unrealized profit | 1,097 | 655 |
Available for sale investments unrealized loss | (256) | (2,327) |
Other foreign financial instruments [Member] | More than 1 Year [Member] | Foreign Financial Securities [Member] | ||
Disclosure of financial assets [line items] | ||
Available for sale investments acquisition cost | ||
Available for sale investments fair value | ||
Available for sale investments unrealized profit | ||
Available for sale investments unrealized loss | ||
Chilean Central Bank & Government Securities [Member] | ||
Disclosure of financial assets [line items] | ||
Available for sale investments acquisition cost | 2,264,534 | 1,736,467 |
Available for sale investments fair value | 2,262,801 | 1,743,474 |
Available for sale investments unrealized profit | 8,503 | 7,029 |
Available for sale investments unrealized loss | (10,235) | (22) |
Chilean Central Bank & Government Securities [Member] | Due within 1 year [Member] | ||
Disclosure of financial assets [line items] | ||
Available for sale investments acquisition cost | 2,264,534 | 1,736,467 |
Available for sale investments fair value | 2,262,801 | 1,743,474 |
Available for sale investments unrealized profit | 8,503 | 7,029 |
Available for sale investments unrealized loss | (10,235) | (22) |
Chilean Central Bank & Government Securities [Member] | More than 1 Year [Member] | ||
Disclosure of financial assets [line items] | ||
Available for sale investments acquisition cost | ||
Available for sale investments fair value | ||
Available for sale investments unrealized profit | ||
Available for sale investments unrealized loss | ||
Chilean Central Bank & Government Securities [Member] | Chilean Central Bank Bonds [Member] | ||
Disclosure of financial assets [line items] | ||
Available for sale investments acquisition cost | 816,164 | 461,793 |
Available for sale investments fair value | 816,331 | 468,386 |
Available for sale investments unrealized profit | 5,513 | 6,612 |
Available for sale investments unrealized loss | (5,346) | (19) |
Chilean Central Bank & Government Securities [Member] | Chilean Central Bank Bonds [Member] | Due within 1 year [Member] | ||
Disclosure of financial assets [line items] | ||
Available for sale investments acquisition cost | 816,164 | 461,793 |
Available for sale investments fair value | 816,331 | 468,386 |
Available for sale investments unrealized profit | 5,513 | 6,612 |
Available for sale investments unrealized loss | (5,346) | (19) |
Chilean Central Bank & Government Securities [Member] | Chilean Central Bank Bonds [Member] | More than 1 Year [Member] | ||
Disclosure of financial assets [line items] | ||
Available for sale investments acquisition cost | ||
Available for sale investments fair value | ||
Available for sale investments unrealized profit | ||
Available for sale investments unrealized loss | ||
Chilean Central Bank & Government Securities [Member] | Chilean Central Bank Notes [Member] | ||
Disclosure of financial assets [line items] | ||
Available for sale investments acquisition cost | 330,923 | 1,222,263 |
Available for sale investments fair value | 330,952 | 1,222,283 |
Available for sale investments unrealized profit | 30 | 23 |
Available for sale investments unrealized loss | (1) | |
Chilean Central Bank & Government Securities [Member] | Chilean Central Bank Notes [Member] | Due within 1 year [Member] | ||
Disclosure of financial assets [line items] | ||
Available for sale investments acquisition cost | 330,923 | 1,222,263 |
Available for sale investments fair value | 330,952 | 1,222,283 |
Available for sale investments unrealized profit | 30 | 23 |
Available for sale investments unrealized loss | (1) | (3) |
Chilean Central Bank & Government Securities [Member] | Chilean Central Bank Notes [Member] | More than 1 Year [Member] | ||
Disclosure of financial assets [line items] | ||
Available for sale investments acquisition cost | ||
Available for sale investments fair value | ||
Available for sale investments unrealized profit | ||
Available for sale investments unrealized loss | ||
Chilean Central Bank & Government Securities [Member] | Other Chilean Central Bank and Government securities [Member] | ||
Disclosure of financial assets [line items] | ||
Available for sale investments acquisition cost | 1,117,447 | 52,411 |
Available for sale investments fair value | 1,115,518 | 52,805 |
Available for sale investments unrealized profit | 2,960 | 394 |
Available for sale investments unrealized loss | (4,888) | |
Chilean Central Bank & Government Securities [Member] | Other Chilean Central Bank and Government securities [Member] | Due within 1 year [Member] | ||
Disclosure of financial assets [line items] | ||
Available for sale investments acquisition cost | 1,117,447 | 52,411 |
Available for sale investments fair value | 1,115,518 | 52,805 |
Available for sale investments unrealized profit | 2,960 | 394 |
Available for sale investments unrealized loss | (4,888) | |
Chilean Central Bank & Government Securities [Member] | Other Chilean Central Bank and Government securities [Member] | More than 1 Year [Member] | ||
Disclosure of financial assets [line items] | ||
Available for sale investments acquisition cost | ||
Available for sale investments fair value | ||
Available for sale investments unrealized profit | ||
Available for sale investments unrealized loss |
AVAILABLE FOR SALE INVESTMEN124
AVAILABLE FOR SALE INVESTMENTS (Details Narrative) - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of financial assets [line items] | ||
Available for sale investments | $ 2,574,546 | $ 3,388,906 |
Other comprehensive income, net of tax, available-for-sale financial assets | 1,855 | 7,375 |
Total Attributable To Equity Holders Of The Bank [Member] | ||
Disclosure of financial assets [line items] | ||
Other comprehensive income, net of tax, available-for-sale financial assets | 459 | 6,449 |
Non-controlling Interest [Member] | ||
Disclosure of financial assets [line items] | ||
Other comprehensive income, net of tax, available-for-sale financial assets | 1,396 | 926 |
Other Chilean securities [Member] | ||
Disclosure of financial assets [line items] | ||
Available for sale investments | 27,673 | 918,488 |
Securities Sold Under Repurchase Agreements [Member] | Other Chilean securities [Member] | ||
Disclosure of financial assets [line items] | ||
Available for sale investments | 1,156 | 57,393 |
Chilean Central Bank & Government Securities [Member] | ||
Disclosure of financial assets [line items] | ||
Available for sale investments | 2,262,801 | 1,743,474 |
Chilean Central Bank & Government Securities [Member] | Securities Sold Under Repurchase Agreements [Member] | ||
Disclosure of financial assets [line items] | ||
Available for sale investments | $ 241,995 | $ 155,044 |
INVESTMENTS IN ASSOCIATES AN125
INVESTMENTS IN ASSOCIATES AND OTHER COMPANIES (Details) - CLP ($) $ in Millions | 12 Months Ended | ||||||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | ||||
Disclosure of associates [line items] | |||||||
Investment value | $ 27,585 | [1] | $ 23,780 | [1] | $ 20,309 | $ 17,914 | |
Profit and loss | $ 3,963 | $ 3,012 | $ 2,588 | ||||
Redbanc S.A. [Member] | |||||||
Disclosure of associates [line items] | |||||||
Ownership interest | 33.43% | 33.43% | 33.43% | ||||
Investment value | $ 2,537 | $ 2,184 | |||||
Profit and loss | $ 353 | $ 373 | $ 215 | ||||
Transbank S.A. [Member] | |||||||
Disclosure of associates [line items] | |||||||
Ownership interest | 25.00% | 25.00% | 25.00% | ||||
Investment value | $ 14,534 | $ 12,510 | |||||
Profit and loss | $ 2,024 | $ 1,302 | $ 1,256 | ||||
Centro de Compensacion Automatizado [Member] | |||||||
Disclosure of associates [line items] | |||||||
Ownership interest | 33.33% | 33.33% | 33.33% | ||||
Investment value | $ 1,589 | $ 1,353 | |||||
Profit and loss | $ 236 | $ 248 | $ 212 | ||||
Sociedad interbancaria de Deposito de Valores S.A. [Member] | |||||||
Disclosure of associates [line items] | |||||||
Ownership interest | 29.29% | 29.29% | 29.29% | ||||
Investment value | $ 1,087 | $ 938 | |||||
Profit and loss | $ 235 | $ 195 | $ 213 | ||||
Camara Compensacion de Alto Valor S.A. [Member] | |||||||
Disclosure of associates [line items] | |||||||
Ownership interest | [2],[3],[4],[5] | 15.00% | 14.93% | 14.23% | |||
Investment value | [2],[3],[4],[5] | $ 909 | $ 866 | ||||
Profit and loss | [2],[3],[4],[5] | $ 66 | $ 98 | $ 127 | |||
Administrador Financiero del Transantiago S.A. [Member] | |||||||
Disclosure of associates [line items] | |||||||
Ownership interest | 20.00% | 20.00% | 20.00% | ||||
Investment value | $ 3,098 | $ 2,781 | |||||
Profit and loss | $ 317 | $ 230 | $ 323 | ||||
Sociedad Nexus S.A. [Member] | |||||||
Disclosure of associates [line items] | |||||||
Ownership interest | 12.90% | 12.90% | 12.90% | ||||
Investment value | $ 1,911 | $ 1,469 | |||||
Profit and loss | $ 442 | $ 247 | $ 225 | ||||
Servicios de infraestructura de Mercado OTC S.A. [Member] | |||||||
Disclosure of associates [line items] | |||||||
Ownership interest | [2],[3] | 12.07% | 12.07% | 11.11% | |||
Investment value | [2],[3] | $ 1,489 | $ 1,378 | ||||
Profit and loss | [2],[3] | 115 | 132 | $ (115) | |||
Associates [Member] | |||||||
Disclosure of associates [line items] | |||||||
Investment value | 27,154 | 23,479 | |||||
Profit and loss | 3,788 | 2,825 | 2,456 | ||||
Bladex [Member] | |||||||
Disclosure of associates [line items] | |||||||
Investment value | [1] | 136 | 136 | ||||
Profit and loss | [1] | 25 | 26 | 25 | |||
Stock Exchanges [Member] | |||||||
Disclosure of associates [line items] | |||||||
Investment value | [1] | 287 | 157 | ||||
Profit and loss | [1] | 150 | 161 | 107 | |||
Others [Member] | |||||||
Disclosure of associates [line items] | |||||||
Investment value | [1] | 8 | 8 | ||||
Profit and loss | [1] | ||||||
[1] | Investments in associates and other companies do not have market prices. | ||||||
[2] | During the last quarter of 2016, Banco Penta ceded to Banco Santander a portion of its interest in the companies "Sociedad Operadora de la Camara de Compensacion de pagos de Alto Valor SA" and "Servicios de Market Infrastructure OTC SA ", the Bank's share in those companies increased to 14.93% and 12.07% respectively. | ||||||
[3] | During the third quarter of 2016, Banco Penta ceded to Banco Santander a portion of its interest in the companies "Sociedad Operadora de la Camara de Compensacion de pagos de Alto Valor SA" and "Servicios de Market Infrastructure OTC SA ", the Bank's share in those companies increased to 14.84% and 11.93% respectively. | ||||||
[4] | In February 2017, Banco Paris sold to Banco Santander a portion of its interest in the companies "Sociedad Operadora de la Camara de Compensacion de pagos de Alto Valor SA", the Bank's share increased to 15.00%. | ||||||
[5] | In October 2015, HSBC Bank Chile sold its ownership share in Camara de Compensacion de Pagos de Alto Valor S.A. to Banco Santander Chile, increasing our participation to 14.23%. |
INVESTMENTS IN ASSOCIATES AN126
INVESTMENTS IN ASSOCIATES AND OTHER COMPANIES (Details 1) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of associates [line items] | |||
Assets | $ 962,537 | $ 858,762 | $ 718,817 |
Liabilities | 843,284 | 754,547 | 630,174 |
Equity | 102,607 | 91,669 | 78,574 |
Net income for the year | 16,646 | 12,546 | 10,069 |
Centro de Compensacion Automatizado [Member] | |||
Disclosure of associates [line items] | |||
Assets | 6,871 | 5,508 | 5,148 |
Liabilities | 2,174 | 1,523 | 1,897 |
Equity | 3,989 | 3,241 | 2,616 |
Net income for the year | 708 | 744 | 635 |
Redbanc S.A. [Member] | |||
Disclosure of associates [line items] | |||
Assets | 21,235 | 19,927 | 20,296 |
Liabilities | 13,751 | 13,505 | 14,877 |
Equity | 6,428 | 5,307 | 4,777 |
Net income for the year | 1,056 | 1,115 | 642 |
Transbank S.A. [Member] | |||
Disclosure of associates [line items] | |||
Assets | 822,487 | 710,475 | 601,627 |
Liabilities | 765,683 | 660,957 | 561,325 |
Equity | 48,709 | 44,309 | 35,278 |
Net income for the year | 8,095 | 5,209 | 5,024 |
Sociedad interbancaria de Deposito de Valores S.A. [Member] | |||
Disclosure of associates [line items] | |||
Assets | 3,720 | 3,204 | 2,714 |
Liabilities | 60 | 103 | 58 |
Equity | 2,858 | 2,435 | 2,093 |
Net income for the year | 802 | 666 | 563 |
Sociedad Nexus S.A. [Member] | |||
Disclosure of associates [line items] | |||
Assets | 32,669 | 30,038 | 23,153 |
Liabilities | 18,888 | 19,229 | 13,682 |
Equity | 10,354 | 8,898 | 7,730 |
Net income for the year | 3,427 | 1,911 | 1,741 |
Servicios de infraestructura de Mercado OTC S.A. [Member] | |||
Disclosure of associates [line items] | |||
Assets | 17,913 | 29,258 | 17,631 |
Liabilities | 6,414 | 18,258 | 7,800 |
Equity | 10,963 | 9,906 | 10,869 |
Net income for the year | 536 | 1,094 | (1,038) |
Administrador Financiero del Transantiago S.A. [Member] | |||
Disclosure of associates [line items] | |||
Assets | 51,304 | 54,253 | 42,518 |
Liabilities | 35,814 | 40,345 | 29,760 |
Equity | 13,907 | 12,758 | 11,145 |
Net income for the year | 1,583 | 1,150 | 1,613 |
Camara Compensacion de Alto Valor S.A. [Member] | |||
Disclosure of associates [line items] | |||
Assets | 6,338 | 6,099 | 5,730 |
Liabilities | 500 | 627 | 775 |
Equity | 5,399 | 4,815 | 4,066 |
Net income for the year | $ 439 | $ 657 | $ 889 |
INVESTMENTS IN ASSOCIATES AN127
INVESTMENTS IN ASSOCIATES AND OTHER COMPANIES (Details 2) - CLP ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |||
Investments In Associates And Other Companies | |||||
Opening balance as of January 1, | $ 23,780 | [1] | $ 20,309 | $ 17,914 | |
Acquisition of investments (*) | 3 | 1,123 | 302 | ||
Sale of investments | |||||
Participation in income | 3,962 | 3,012 | 2,588 | ||
Dividends received | (116) | (217) | (278) | ||
Other equity adjustments | (44) | (447) | (217) | ||
Total | $ 27,585 | [1] | $ 23,780 | [1] | $ 20,309 |
[1] | Investments in associates and other companies do not have market prices. |
INVESTMENTS IN ASSOCIATES AN128
INVESTMENTS IN ASSOCIATES AND OTHER COMPANIES (Details Narrative) | 3 Months Ended | |
Dec. 31, 2016 | Sep. 30, 2016 | |
Sociedad Operadora de la Camara de Compensacion de pagos de Alto Valor SA [Member] | ||
Disclosure of associates [line items] | ||
Ownership interest | 14.93% | 14.84% |
Servicios de Market Infrastructure OTC SA [Member] | ||
Disclosure of associates [line items] | ||
Ownership interest | 12.07% | 11.93% |
INTANGIBLE ASSETS (Details)
INTANGIBLE ASSETS (Details) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of detailed information about intangible assets [line items] | |||
Net balance | $ 63,219 | $ 58,085 | $ 51,137 |
Gross carrying amount [Member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Net balance | 325,047 | 297,713 | 270,432 |
Accumulated depreciation and amortisation [Member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Net balance | $ (261,828) | $ (239,628) | (219,295) |
Licenses [Member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Years of useful life | P3Y | P3Y | |
Average remaining useful life | 1 year | 2 years | |
Net balance | $ 1,200 | $ 1,656 | 2,060 |
Licenses [Member] | Gross carrying amount [Member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Net balance | 10,932 | 10,932 | 10,932 |
Licenses [Member] | Accumulated depreciation and amortisation [Member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Net balance | $ (9,732) | $ (9,276) | (8,872) |
Software development [Member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Years of useful life | P3Y | P3Y | |
Average remaining useful life | 2 years | 2 years | |
Net balance | $ 62,019 | $ 56,429 | 49,077 |
Software development [Member] | Gross carrying amount [Member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Net balance | 314,115 | 286,781 | 259,500 |
Software development [Member] | Accumulated depreciation and amortisation [Member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Net balance | $ (252,096) | $ (230,352) | $ (210,423) |
INTANGIBLE ASSETS (Details 1)
INTANGIBLE ASSETS (Details 1) - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of detailed information about intangible assets [line items] | ||
Balances at beginning | $ 58,085 | $ 51,137 |
Balances at end | 63,219 | 58,085 |
Licenses [Member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Balances at beginning | 1,656 | 2,060 |
Balances at end | 1,200 | 1,656 |
Software development [Member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Balances at beginning | 56,429 | 49,077 |
Balances at end | 62,019 | 56,429 |
Gross carrying amount [Member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Balances at beginning | 297,713 | 270,432 |
Acquisitions | 32,624 | 27,281 |
Disposals and impairment | (5,290) | |
Other | ||
Balances at end | 325,047 | 297,713 |
Gross carrying amount [Member] | Licenses [Member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Balances at beginning | 10,932 | 10,932 |
Acquisitions | ||
Disposals and impairment | ||
Other | ||
Balances at end | 10,932 | 10,932 |
Gross carrying amount [Member] | Software development [Member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Balances at beginning | 286,781 | 259,500 |
Acquisitions | 32,624 | 27,281 |
Disposals and impairment | (5,290) | |
Other | ||
Balances at end | 314,115 | 286,781 |
Accumulated depreciation and amortisation [Member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Balances at beginning | (239,628) | (219,295) |
Year's amortization | (22,200) | (20,333) |
Other | ||
Balances at end | (261,828) | (239,628) |
Accumulated depreciation and amortisation [Member] | Licenses [Member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Balances at beginning | (9,276) | (8,872) |
Year's amortization | (456) | (404) |
Other | ||
Balances at end | (9,732) | (9,276) |
Accumulated depreciation and amortisation [Member] | Software development [Member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Balances at beginning | (230,352) | (210,423) |
Year's amortization | (21,744) | (19,929) |
Other | ||
Balances at end | $ (252,096) | $ (230,352) |
PROPERTY, PLANT, AND EQUIPME131
PROPERTY, PLANT, AND EQUIPMENT (Details) - CLP ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Disclosure of detailed information about property, plant and equipment [line items] | |||
Total | $ 242,547 | $ 257,379 | $ 240,659 |
Gross carrying amount [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Total | 533,478 | 493,001 | 431,440 |
Accumulated depreciation and amortisation [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Total | (290,931) | (235,622) | (190,781) |
Land and buildings [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Total | 159,352 | 169,809 | 158,434 |
Land and buildings [Member] | Gross carrying amount [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Total | 274,079 | 264,016 | 237,449 |
Land and buildings [Member] | Accumulated depreciation and amortisation [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Total | (114,727) | (94,207) | (79,015) |
Equipment [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Total | 63,516 | 66,506 | 59,908 |
Equipment [Member] | Gross carrying amount [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Total | 193,689 | 168,124 | 137,621 |
Equipment [Member] | Accumulated depreciation and amortisation [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Total | (130,173) | (101,618) | (77,713) |
Ceded under operating leases [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Total | 4,221 | 4,230 | 4,238 |
Ceded under operating leases [Member] | Gross carrying amount [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Total | 4,888 | 4,888 | 4,888 |
Ceded under operating leases [Member] | Accumulated depreciation and amortisation [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Total | (667) | (658) | (650) |
Other [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Total | 15,458 | 16,834 | 18,079 |
Other [Member] | Gross carrying amount [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Total | 60,822 | 55,973 | 51,482 |
Other [Member] | Accumulated depreciation and amortisation [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Total | $ (45,364) | $ (39,139) | $ (33,403) |
PROPERTY, PLANT, AND EQUIPME132
PROPERTY, PLANT, AND EQUIPMENT (Details 1) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of detailed information about property, plant and equipment [line items] | |||
Balances at beginning | $ 257,379 | $ 240,659 | |
Impairment due to damage | (5,644) | (234) | $ (21) |
Balances at end | 242,547 | 257,379 | 240,659 |
Land and buildings [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Balances at beginning | 169,809 | 158,434 | |
Balances at end | 159,352 | 169,809 | 158,434 |
Equipment [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Balances at beginning | 66,506 | 59,908 | |
Balances at end | 63,516 | 66,506 | 59,908 |
Ceded under operating leases [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Balances at beginning | 4,230 | 4,238 | |
Balances at end | 4,221 | 4,230 | 4,238 |
Other [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Balances at beginning | 16,834 | 18,079 | |
Balances at end | 15,458 | 16,834 | 18,079 |
Gross carrying amount [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Balances at beginning | 493,001 | 431,440 | |
Additions | 58,772 | 62,355 | |
Disposals | (17,941) | (560) | |
Impairment due to damage | (354) | (234) | |
Other | |||
Balances at end | 533,478 | 493,001 | 431,440 |
Gross carrying amount [Member] | Land and buildings [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Balances at beginning | 264,016 | 237,449 | |
Additions | 27,592 | 26,567 | |
Disposals | (17,529) | ||
Impairment due to damage | |||
Other | |||
Balances at end | 274,079 | 264,016 | 237,449 |
Gross carrying amount [Member] | Equipment [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Balances at beginning | 168,124 | 137,621 | |
Additions | 26,278 | 30,965 | |
Disposals | (359) | (228) | |
Impairment due to damage | (354) | (234) | |
Other | |||
Balances at end | 193,689 | 168,124 | 137,621 |
Gross carrying amount [Member] | Ceded under operating leases [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Balances at beginning | 4,888 | 4,888 | |
Additions | |||
Disposals | |||
Impairment due to damage | |||
Other | |||
Balances at end | 4,888 | 4,888 | 4,888 |
Gross carrying amount [Member] | Other [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Balances at beginning | 55,973 | 51,482 | |
Additions | 4,902 | 4,823 | |
Disposals | (53) | (332) | |
Impairment due to damage | |||
Other | |||
Balances at end | 60,822 | 55,973 | 51,482 |
Accumulated depreciation and amortisation [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Balances at beginning | (235,622) | (190,781) | |
Additions | (55,622) | (45,025) | |
Disposals | 313 | 184 | |
Impairment due to damage | |||
Other | |||
Balances at end | (290,931) | (235,622) | (190,781) |
Accumulated depreciation and amortisation [Member] | Land and buildings [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Balances at beginning | (94,207) | (79,015) | |
Additions | (20,744) | (15,192) | |
Disposals | 224 | ||
Impairment due to damage | |||
Other | |||
Balances at end | (114,727) | (94,207) | (79,015) |
Accumulated depreciation and amortisation [Member] | Equipment [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Balances at beginning | (101,618) | (77,713) | |
Additions | (28,592) | (23,976) | |
Disposals | 37 | 71 | |
Impairment due to damage | |||
Other | |||
Balances at end | (130,173) | (101,618) | (77,713) |
Accumulated depreciation and amortisation [Member] | Ceded under operating leases [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Balances at beginning | (658) | (650) | |
Additions | (9) | (8) | |
Disposals | |||
Impairment due to damage | |||
Other | |||
Balances at end | (667) | (658) | (650) |
Accumulated depreciation and amortisation [Member] | Other [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Balances at beginning | (39,139) | (33,403) | |
Additions | (6,277) | (5,849) | |
Disposals | 52 | 113 | |
Impairment due to damage | |||
Other | |||
Balances at end | $ (45,364) | $ (39,139) | $ (33,403) |
PROPERTY, PLANT, AND EQUIPME133
PROPERTY, PLANT, AND EQUIPMENT (Details 2) - CLP ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of amounts to be recovered or settled after twelve months for classes of assets and liabilities that contain amounts to be recovered or settled both no more and more than twelve months after reporting date [line items] | ||
Total | $ 4,244 | $ 4,921 |
Due within 1 year [Member] | ||
Disclosure of amounts to be recovered or settled after twelve months for classes of assets and liabilities that contain amounts to be recovered or settled both no more and more than twelve months after reporting date [line items] | ||
Total | 567 | 506 |
Due after 1 year but within 2 years [Member] | ||
Disclosure of amounts to be recovered or settled after twelve months for classes of assets and liabilities that contain amounts to be recovered or settled both no more and more than twelve months after reporting date [line items] | ||
Total | 749 | 1,029 |
Due after 2 years but within 3 years [Member] | ||
Disclosure of amounts to be recovered or settled after twelve months for classes of assets and liabilities that contain amounts to be recovered or settled both no more and more than twelve months after reporting date [line items] | ||
Total | 480 | 502 |
Due after 3 years but within 4 years [Member] | ||
Disclosure of amounts to be recovered or settled after twelve months for classes of assets and liabilities that contain amounts to be recovered or settled both no more and more than twelve months after reporting date [line items] | ||
Total | 348 | 473 |
Due after 4 years but within 5 years [Member] | ||
Disclosure of amounts to be recovered or settled after twelve months for classes of assets and liabilities that contain amounts to be recovered or settled both no more and more than twelve months after reporting date [line items] | ||
Total | 308 | 344 |
Due after 5 years [Member] | ||
Disclosure of amounts to be recovered or settled after twelve months for classes of assets and liabilities that contain amounts to be recovered or settled both no more and more than twelve months after reporting date [line items] | ||
Total | $ 1,792 | $ 2,067 |
PROPERTY, PLANT, AND EQUIPME134
PROPERTY, PLANT, AND EQUIPMENT (Details 3) - CLP ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of amounts to be recovered or settled after twelve months for classes of assets and liabilities that contain amounts to be recovered or settled both no more and more than twelve months after reporting date [line items] | ||
Total | $ 145,465 | $ 157,524 |
Due within 1 year [Member] | ||
Disclosure of amounts to be recovered or settled after twelve months for classes of assets and liabilities that contain amounts to be recovered or settled both no more and more than twelve months after reporting date [line items] | ||
Total | 26,059 | 26,455 |
Due after 1 year but within 2 years [Member] | ||
Disclosure of amounts to be recovered or settled after twelve months for classes of assets and liabilities that contain amounts to be recovered or settled both no more and more than twelve months after reporting date [line items] | ||
Total | 21,343 | 24,903 |
Due after 2 years but within 3 years [Member] | ||
Disclosure of amounts to be recovered or settled after twelve months for classes of assets and liabilities that contain amounts to be recovered or settled both no more and more than twelve months after reporting date [line items] | ||
Total | 18,091 | 20,582 |
Due after 3 years but within 4 years [Member] | ||
Disclosure of amounts to be recovered or settled after twelve months for classes of assets and liabilities that contain amounts to be recovered or settled both no more and more than twelve months after reporting date [line items] | ||
Total | 15,736 | 17,321 |
Due after 4 years but within 5 years [Member] | ||
Disclosure of amounts to be recovered or settled after twelve months for classes of assets and liabilities that contain amounts to be recovered or settled both no more and more than twelve months after reporting date [line items] | ||
Total | 12,734 | 14,569 |
Due after 5 years [Member] | ||
Disclosure of amounts to be recovered or settled after twelve months for classes of assets and liabilities that contain amounts to be recovered or settled both no more and more than twelve months after reporting date [line items] | ||
Total | $ 51,502 | $ 53,694 |
CURRENT AND DEFERRED TAXES (Det
CURRENT AND DEFERRED TAXES (Details) - CLP ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Summary of current tax liabilities (assets) | |||||
Current tax (assets) | |||||
Current tax liabilities | 6,435 | 29,294 | |||
Total tax payable (recoverable) | 6,435 | 29,294 | |||
(Assets) liabilities current taxes detail (net) | |||||
Income tax, tax rate | 145,112 | [1] | 145,963 | [1] | $ 121,775 |
Minus: | |||||
Provisional monthly payments | (136,562) | (113,700) | |||
Credit for training expenses | (1,768) | (1,972) | |||
Land taxes leasing | |||||
Grant credits | (968) | (1,079) | |||
Other | 621 | 82 | |||
Total tax payable (recoverable) | $ 6,435 | $ 29,294 | |||
[1] | The tax rate is 25.5% for 2017 and 24.0% for 2016. |
CURRENT AND DEFERRED TAXES (136
CURRENT AND DEFERRED TAXES (Details 1) - CLP ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |||
Income tax expense | |||||
Current tax | $ 145,112 | [1] | $ 145,963 | [1] | $ 121,775 |
Credits (debits) for deferred taxes | |||||
Origination and reversal of temporary differences | (6,751) | (37,269) | (45,672) | ||
Valuation provision | 5,955 | ||||
Subtotals | 144,316 | 108,694 | 76,103 | ||
Tax for rejected expenses | 610 | 336 | 340 | ||
Other | 105 | 1 | (48) | ||
Net charges for income tax expense | $ 145,031 | $ 109,031 | $ 76,395 | ||
[1] | The tax rate is 25.5% for 2017 and 24.0% for 2016. |
CURRENT AND DEFERRED TAXES (137
CURRENT AND DEFERRED TAXES (Details 2) - CLP ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Current And Deferred Taxes Details 2 | ||||
Tax calculated over profit before tax | $ 183,671 | $ 140,991 | $ 118,828 | |
Price level restatement for tax purposes | [1] | (21,829) | (32,256) | (28,630) |
Single penalty tax (rejected expenses) | 610 | 336 | 340 | |
Effect of tax reform changes on deferred tax | [2] | (20,600) | 86 | (10,600) |
Real estate taxes | (3,853) | |||
Other | 3,179 | (126) | 310 | |
Effective rates and expenses for income tax | $ 145,031 | $ 109,031 | $ 76,395 | |
Tax calculated over profit before tax | 25.50% | 24.00% | 22.50% | |
Price level restatement for tax purposes | [1] | (3.03%) | (5.49%) | (5.42%) |
Single penalty tax (rejected expenses) | 0.08% | 0.06% | 0.06% | |
Effect of tax reform changes on deferred tax | [2] | (2.86%) | 0.01% | (2.01%) |
Real estate taxes | 0.00% | 0.00% | (0.73%) | |
Other | 0.44% | (0.02%) | 0.06% | |
Effective rates and expenses for income tax | 20.13% | 18.56% | 14.46% | |
[1] | Price level restatement on tax purpose capital. | |||
[2] | In accordance with Chilean Law N 20.780 published in September 29, 2014 the income tax rate are 25,5% and 27% for 2017 and 2018 respectively. |
CURRENT AND DEFERRED TAXES (138
CURRENT AND DEFERRED TAXES (Details 3) - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Deferred tax assets | ||
Available for sale investments | $ 368 | $ 3,266 |
Cash flow hedges | 908 | |
Total deferred tax assets recognized through other comprehensive income | 1,276 | 3,266 |
Deferred tax liabilities | ||
Available for sale investments | (841) | (5,036) |
Cash flow hedges | (549) | |
Total deferred tax liabilities recognized through other comprehensive income | (841) | (5,585) |
Net deferred tax balances in equity | 435 | (2,319) |
Deferred taxes in equity attributable to equity holders of the Bank | 791 | (2,097) |
Deferred tax in equity attributable to non-controlling interests | $ (356) | $ (222) |
CURRENT AND DEFERRED TAXES (139
CURRENT AND DEFERRED TAXES (Details 4) - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Deferred tax assets | ||
Interests and adjustments | $ 8,645 | $ 9,473 |
Non-recurring charge-offs | 11,651 | 9,891 |
Assets received in lieu of payment | 1,582 | 2,999 |
Exchange rate adjustments | 882 | |
Property, plant and equipment valuation | 4,410 | 4,570 |
Allowance for loan losses | 160,359 | 163,456 |
Provision for expenses | 73,518 | 67,073 |
Leased assets | 98,090 | 71,834 |
Subsidiaries tax losses | 5,277 | 9,467 |
Prepaid expenses | 151 | |
Other | 5,249 | 17,571 |
Total deferred tax assets | 369,814 | 356,334 |
Deferred tax liabilities | ||
Valuation of investments | (1,911) | (1,802) |
Depreciation | (532) | |
Valuation provision | (5,955) | |
Other | (432) | (299) |
Total deferred tax liabilities | $ (8,830) | $ (2,101) |
CURRENT AND DEFERRED TAXES (140
CURRENT AND DEFERRED TAXES (Details 5) - CLP ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Deferred tax assets | ||
Recognized through other comprehensive income | $ 1,276 | $ 3,266 |
Recognized through profit or loss | 369,815 | 356,334 |
Total deferred tax assets | 371,091 | 359,600 |
Deferred tax liabilities | ||
Recognized through other comprehensive income | (841) | (5,585) |
Recognized through profit or loss | (8,822) | (2,101) |
Total deferred tax liabilities | $ (9,663) | $ (7,686) |
CURRENT AND DEFERRED TAXES (141
CURRENT AND DEFERRED TAXES (Details Narrative) | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of non-adjusting events after reporting period [line items] | ||||
Tax rate | 25.50% | 24.00% | 22.50% | |
Non-adjusting Events After Reporting Period [Member] | ||||
Disclosure of non-adjusting events after reporting period [line items] | ||||
Tax rate | 27.00% |
OTHER ASSETS (Details)
OTHER ASSETS (Details) - CLP ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 | |
Other Assets | |||
Assets for leasing | [1] | $ 48,099 | $ 44,840 |
Assets received or awarded in lieu of payment | |||
Assets received in lieu of payment | 20,904 | 26,598 | |
Assets awarded at judicial sale | 24,800 | 26,895 | |
Provision on assets received in lieu of payment or awarded | (1,440) | (7,558) | |
Subtotal | 44,264 | 45,935 | |
Other assets | |||
Guarantee deposits (margin accounts) | [2] | 323,767 | 396,289 |
Gold investments | 478 | 446 | |
VAT credit | 9,570 | 8,941 | |
Income tax recoverable | 1,381 | 22,244 | |
Prepaid expenses | 116,512 | 148,288 | |
Assets recovered from leasing for sale | 4,235 | 6,040 | |
Pension plan assets | 921 | 1,637 | |
Accounts and notes receivable | 59,574 | 56,624 | |
Notes receivable through brokerage and simultaneous transactions | 68,272 | 60,632 | |
Other receivable assets | 53,500 | 15,082 | |
Other assets | [3] | 33,837 | 40,274 |
Subtotal | 672,047 | 756,497 | |
Total | $ 764,410 | $ 847,272 | |
[1] | Assets available to be granted under the financial leasing agreements. | ||
[2] | Guarantee deposits (margin accounts) correspond to collateral associated with derivative financial contracts to mitigate the counterparty credit risk and are mainly established in cash. These guarantees operate when mark to market of derivative financial instruments exceed the levels of threshold agreed in the contracts, which could result in the Bank delivering or receiving collateral. | ||
[3] | Other assets mainly include settlement of derivatives and other financial transactions. |
TIME DEPOSITS AND OTHER TIME143
TIME DEPOSITS AND OTHER TIME LIABILITIES (Details) - CLP ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Deposits and other demand liabilities | ||
Checking accounts | $ 6,272,656 | $ 6,144,688 |
Other deposits and demand accounts | 590,221 | 564,966 |
Other demand liabilities | 905,289 | 829,661 |
Total | 7,768,166 | 7,539,315 |
Time deposits and other time liabilities | ||
Time deposits | 11,792,466 | 13,031,319 |
Time savings account | 116,179 | 116,451 |
Other time liabilities | 5,300 | 3,939 |
Total | $ 11,913,945 | $ 13,151,709 |
INTERBANK BORROWINGS (Details)
INTERBANK BORROWINGS (Details) - CLP ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | $ 1,698,357 | $ 1,916,368 |
Loans From Financial Institutions And The Central Bank Of Chile [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 5 | 7 |
Loans From Financial Institutions And The Central Bank Of Chile [Member] | Borrowings And Other Obligations [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 5 | 7 |
Loans from domestic financial institutions [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 480 | 365,436 |
Loans from foreign financial institutions [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 1,697,872 | 1,550,925 |
Loans from foreign financial institutions [Member] | Sumitomo Mitsui Banking Corporation [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 259,199 | 233,060 |
Loans from foreign financial institutions [Member] | Wells Fargo Bank N.A. [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 235,058 | 113,631 |
Loans from foreign financial institutions [Member] | Bank Of America N.A. [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 228,309 | |
Loans from foreign financial institutions [Member] | Standard Chartered Bank [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 225,966 | 101,874 |
Loans from foreign financial institutions [Member] | Mizuho Bank Ltd. NY. [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 215,967 | |
Loans from foreign financial institutions [Member] | Citibank N.A. [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 191,471 | 183,193 |
Loans from foreign financial institutions [Member] | The Bank of Nova Scotia [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 86,419 | 39,967 |
Loans from foreign financial institutions [Member] | The Toronto-Dominion Bank [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 62,743 | |
Loans from foreign financial institutions [Member] | Corporacion Andina De Fomento [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 31,075 | |
Loans from foreign financial institutions [Member] | Barclays Bank PLC London [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 30,886 | 33,279 |
Loans from foreign financial institutions [Member] | HSBC Bank Plc NY [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 30,875 | 33,214 |
Loans from foreign financial institutions [Member] | The Bank of New York Mellon [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 30,839 | 82,594 |
Loans from foreign financial institutions [Member] | Hsbc Bank Plc [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 30,838 | |
Loans from foreign financial institutions [Member] | European Investment Bank [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 12,629 | 13,980 |
Loans from foreign financial institutions [Member] | Banco Santander - Hong Kong [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 8,341 | 6,165 |
Loans from foreign financial institutions [Member] | Banco Santander Brasil S.A. [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 5,225 | 5,175 |
Loans from foreign financial institutions [Member] | Bank Austria A.G. [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 2,317 | |
Loans from foreign financial institutions [Member] | Bank of China [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 823 | 311 |
Loans from foreign financial institutions [Member] | Shanghai Pudong Development [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 714 | 205 |
Loans from foreign financial institutions [Member] | Bank of Tokyo Mitsubishi [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 453 | |
Loans from foreign financial institutions [Member] | Keb Hana Bank [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 396 | 301 |
Loans from foreign financial institutions [Member] | Shinhan Bank [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 394 | 354 |
Loans from foreign financial institutions [Member] | Thai Military Bank Public Comp [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 377 | 425 |
Loans from foreign financial institutions [Member] | Hua Nan Commercial Bank Ltd. [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 349 | 83 |
Loans from foreign financial institutions [Member] | Mizuho Corporate Bank [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 331 | 411,753 |
Loans from foreign financial institutions [Member] | Banco Santander Central Hispano [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 312 | |
Loans from foreign financial institutions [Member] | Agricultural Bank of China [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 295 | 327 |
Loans from foreign financial institutions [Member] | Banco de occidente [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 282 | |
Loans from foreign financial institutions [Member] | Banco Do Brasil S.A. [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 268 | 120 |
Loans from foreign financial institutions [Member] | Unicredito Italiano [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 264 | |
Loans from foreign financial institutions [Member] | Bank of East Asia, Limited [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 241 | 54 |
Loans from foreign financial institutions [Member] | Canara Bank [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 224 | 91 |
Loans from foreign financial institutions [Member] | Hong Kong and Shanghai Banking [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 222 | 889 |
Loans from foreign financial institutions [Member] | International Commercial Bank [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 221 | |
Loans from foreign financial institutions [Member] | Banque Generale Du Luxembourg [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 207 | 138 |
Loans from foreign financial institutions [Member] | Kookmin Bank [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 201 | 317 |
Loans from foreign financial institutions [Member] | Zhejiang Commercial Bank Ltd. [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 175 | |
Loans from foreign financial institutions [Member] | Banca Monte dei Paschi di Siena [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 162 | 309 |
Loans from foreign financial institutions [Member] | Taiwan Cooperative Bank [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 159 | |
Loans from foreign financial institutions [Member] | Deutsche Bank A.G. [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 157 | |
Loans from foreign financial institutions [Member] | Yapi Ve Kredi Bankasi A.S. [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 155 | 73 |
Loans from foreign financial institutions [Member] | J.P. Morgan Chase Bank N.A. [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 154 | 49 |
Loans from foreign financial institutions [Member] | Banco Commerzbank [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 145 | 47 |
Loans from foreign financial institutions [Member] | Bank of Taiwan [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 136 | 183 |
Loans from foreign financial institutions [Member] | Industrial And Commercial Bank [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 119 | |
Loans from foreign financial institutions [Member] | Bank Of Nova Scotia [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 112 | |
Loans from foreign financial institutions [Member] | State Bank of India [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 110 | 289 |
Loans from foreign financial institutions [Member] | Woori Bank [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 105 | 153 |
Loans from foreign financial institutions [Member] | Bancolombia S.A. [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 94 | 31 |
Loans from foreign financial institutions [Member] | Bank of Communications [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 93 | 393 |
Loans from foreign financial institutions [Member] | Cassa Di Risparmio Di Parma E [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 93 | 132 |
Loans from foreign financial institutions [Member] | China Construccion Bank [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 90 | 1,044 |
Loans from foreign financial institutions [Member] | Metropolitan Bank Limited [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 87 | 26 |
Loans from foreign financial institutions [Member] | Banca Delle Marche Spa [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 76 | 31 |
Loans from foreign financial institutions [Member] | Australia And New Zealand Bank [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 62 | 21 |
Loans from foreign financial institutions [Member] | Abanca Corporacion Bancaria SA [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 60 | |
Loans from foreign financial institutions [Member] | Casa Di Risparmo De Padova E.R. [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 56 | 76 |
Loans from foreign financial institutions [Member] | Societe Generale [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 56 | |
Loans from foreign financial institutions [Member] | Hanvit Bank [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 55 | 76 |
Loans from foreign financial institutions [Member] | Banca Popolare Dell'Emilia Rom [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 53 | 26 |
Loans from foreign financial institutions [Member] | Banco Bradesco S.A. [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 50 | 113 |
Loans from foreign financial institutions [Member] | Punjab National Bank [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 47 | |
Loans from foreign financial institutions [Member] | Citic Industrial Bank [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 39 | |
Loans from foreign financial institutions [Member] | Hang Seng Bank Ltd. [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 39 | |
Loans from foreign financial institutions [Member] | Hsbc Bank Usa [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 38 | |
Loans from foreign financial institutions [Member] | First Union National Bank [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 35 | 226 |
Loans from foreign financial institutions [Member] | Habib Bank Limited [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 34 | 105 |
Loans from foreign financial institutions [Member] | Banco Caixa Geral. [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 33 | |
Loans from foreign financial institutions [Member] | Banco Internacional S.A. [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 33 | |
Loans from foreign financial institutions [Member] | Banca Commerciale Italiana S.P. [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 31 | |
Loans from foreign financial institutions [Member] | Bank of Montreal [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 30 | 201 |
Loans from foreign financial institutions [Member] | Kasikornbank Public Company Li. [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 25 | |
Loans from foreign financial institutions [Member] | Citibank N.A. Turkiye Merkez S. [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 23 | 158 |
Loans from foreign financial institutions [Member] | Liu Chong Hing Bank Limited [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 21 | |
Loans from foreign financial institutions [Member] | Banco Popular Espanol S.A. [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 19 | 56 |
Loans from foreign financial institutions [Member] | Taiwan Business Bank [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 19 | |
Loans from foreign financial institutions [Member] | Fortis Bank S.A./N.V. Brussels [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 15 | 12 |
Loans from foreign financial institutions [Member] | Chang Hwa Commercial Bank Ltd. [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 14 | 17 |
Loans from foreign financial institutions [Member] | Banco De Sabadell S.A. [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 10 | |
Loans from foreign financial institutions [Member] | Bank Of China Guangdong Branch [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 8 | 14 |
Loans from foreign financial institutions [Member] | Icici Bank Limited [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 8 | 25 |
Loans from foreign financial institutions [Member] | Banco Popolare Soc Coop [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 6 | 5 |
Loans from foreign financial institutions [Member] | Bank of America [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 213,200 | |
Loans from foreign financial institutions [Member] | Zurcher Kantonal Bank [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 20,021 | |
Loans from foreign financial institutions [Member] | Banque Bruxelles Lambert S.A. [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 5,797 | |
Loans from foreign financial institutions [Member] | Banque Cantonale Vaudoise [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 5,714 | |
Loans from foreign financial institutions [Member] | Denizbank A.S. [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 347 | |
Loans from foreign financial institutions [Member] | Banco Santander - Madrid [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 322 | |
Loans from foreign financial institutions [Member] | Unicredito Italiano [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 302 | |
Loans from foreign financial institutions [Member] | Taipei Bank [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 260 | |
Loans from foreign financial institutions [Member] | ING Bank N.V. - Vienna [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 228 | |
Loans from foreign financial institutions [Member] | Westpac Banking Corporation [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 226 | |
Loans from foreign financial institutions [Member] | BNP Paribas S.A. [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 218 | |
Loans from foreign financial institutions [Member] | Oriental Bank of Commerce [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 132 | |
Loans from foreign financial institutions [Member] | Kotak Mahindra Bank Limited [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 129 | |
Loans from foreign financial institutions [Member] | Caixabank S.A. [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 93 | |
Loans from foreign financial institutions [Member] | Development Bank Of Singapore [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 80 | |
Loans from foreign financial institutions [Member] | Hsbc France (formerly Hsbc Ccf) [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 74 | |
Loans from foreign financial institutions [Member] | Banco General S.A. [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 62 | |
Loans from foreign financial institutions [Member] | Banco De Credito Del Peru [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 58 | |
Loans from foreign financial institutions [Member] | Hsbc Bank Canada [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 47 | |
Loans from foreign financial institutions [Member] | Finans Bank A.S. [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 46 | |
Loans from foreign financial institutions [Member] | Bangkok Bank Public Company Li. [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 42 | |
Loans from foreign financial institutions [Member] | United Bank of India [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 39 | |
Loans from foreign financial institutions [Member] | Banco Bolivariano C.A. [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 38 | |
Loans from foreign financial institutions [Member] | Banco Bilbao Vizcaya Argentaria [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 34 | |
Loans from foreign financial institutions [Member] | Hsbc Bank Brasil S.A. - Banco [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 34 | |
Loans from foreign financial institutions [Member] | Banca Popolare Di Vicenza Scpa [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 31 | |
Loans from foreign financial institutions [Member] | Bayerische Hypo- Und Vereinsba [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 27 | |
Loans from foreign financial institutions [Member] | Banco Itau [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 25 | |
Loans from foreign financial institutions [Member] | China Merchants Bank [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 22 | |
Loans from foreign financial institutions [Member] | Hsbc Bank Middle East [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 21 | |
Loans from foreign financial institutions [Member] | Banca Lombarda E Piemontese S. [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 21 | |
Loans from foreign financial institutions [Member] | Export-Import Bank Of Thailand [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 20 | |
Loans from foreign financial institutions [Member] | Cassa Di Risparmio In Bologna [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 20 | |
Loans from foreign financial institutions [Member] | Fifth Third Bank [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 15 | |
Loans from foreign financial institutions [Member] | Hdfc Bank Limited [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 13 | |
Loans from foreign financial institutions [Member] | Union Bank of India [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 10 | |
Loans from foreign financial institutions [Member] | Intesa Sanpaolo Spa [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 7 | |
Loans from foreign financial institutions [Member] | Deutsche Bank Sociedad Anonima [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 6 | |
Loans from foreign financial institutions [Member] | Industrial Bank of Korea [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 5 | |
Loans from foreign financial institutions [Member] | Otros [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 4,169 | |
Loans from foreign financial institutions [Member] | Bank of Tokio Mitsubishi [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 430 | |
Loans from foreign financial institutions [Member] | NTT Docomo Ibc [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | $ 33,149 |
INTERBANK BORROWINGS (Details 1
INTERBANK BORROWINGS (Details 1) - CLP ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | $ 1,698,357 | $ 1,916,368 |
Loans From Financial Institutions And The Central Bank Of Chile [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | 5 | 7 |
Loans From Financial Institutions And The Central Bank Of Chile [Member] | Borrowings And Other Obligations [Member] | ||
Disclosure of financial liabilities [line items] | ||
Interbank borrowings | $ 5 | $ 7 |
INTERBANK BORROWINGS (Details 2
INTERBANK BORROWINGS (Details 2) - CLP ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of amounts to be recovered or settled after twelve months for classes of assets and liabilities that contain amounts to be recovered or settled both no more and more than twelve months after reporting date [line items] | ||
Interbank borrowings | $ 1,698,357 | $ 1,916,368 |
Loans from domestic financial institutions [Member] | ||
Disclosure of amounts to be recovered or settled after twelve months for classes of assets and liabilities that contain amounts to be recovered or settled both no more and more than twelve months after reporting date [line items] | ||
Interbank borrowings | 480 | 365,436 |
Loans from domestic financial institutions [Member] | Due within 1 year [Member] | ||
Disclosure of amounts to be recovered or settled after twelve months for classes of assets and liabilities that contain amounts to be recovered or settled both no more and more than twelve months after reporting date [line items] | ||
Interbank borrowings | 480 | 365,436 |
Loans from domestic financial institutions [Member] | Due after 1 year but within 2 years [Member] | ||
Disclosure of amounts to be recovered or settled after twelve months for classes of assets and liabilities that contain amounts to be recovered or settled both no more and more than twelve months after reporting date [line items] | ||
Interbank borrowings | ||
Loans from domestic financial institutions [Member] | Due after 2 years but within 3 years [Member] | ||
Disclosure of amounts to be recovered or settled after twelve months for classes of assets and liabilities that contain amounts to be recovered or settled both no more and more than twelve months after reporting date [line items] | ||
Interbank borrowings | ||
Loans from domestic financial institutions [Member] | Due after 3 years but within 4 years [Member] | ||
Disclosure of amounts to be recovered or settled after twelve months for classes of assets and liabilities that contain amounts to be recovered or settled both no more and more than twelve months after reporting date [line items] | ||
Interbank borrowings | ||
Loans from domestic financial institutions [Member] | Due after 5 years [Member] | ||
Disclosure of amounts to be recovered or settled after twelve months for classes of assets and liabilities that contain amounts to be recovered or settled both no more and more than twelve months after reporting date [line items] | ||
Interbank borrowings |
INTERBANK BORROWINGS (Details 3
INTERBANK BORROWINGS (Details 3) - CLP ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of amounts to be recovered or settled after twelve months for classes of assets and liabilities that contain amounts to be recovered or settled both no more and more than twelve months after reporting date [line items] | ||
Interbank borrowings | $ 1,698,357 | $ 1,916,368 |
Loans from foreign financial institutions [Member] | ||
Disclosure of amounts to be recovered or settled after twelve months for classes of assets and liabilities that contain amounts to be recovered or settled both no more and more than twelve months after reporting date [line items] | ||
Interbank borrowings | 1,697,872 | 1,550,925 |
Loans from foreign financial institutions [Member] | Due within 1 year [Member] | ||
Disclosure of amounts to be recovered or settled after twelve months for classes of assets and liabilities that contain amounts to be recovered or settled both no more and more than twelve months after reporting date [line items] | ||
Interbank borrowings | 1,477,318 | 525,521 |
Loans from foreign financial institutions [Member] | Due after 1 year but within 2 years [Member] | ||
Disclosure of amounts to be recovered or settled after twelve months for classes of assets and liabilities that contain amounts to be recovered or settled both no more and more than twelve months after reporting date [line items] | ||
Interbank borrowings | 185,519 | 725,315 |
Loans from foreign financial institutions [Member] | Due after 2 years but within 3 years [Member] | ||
Disclosure of amounts to be recovered or settled after twelve months for classes of assets and liabilities that contain amounts to be recovered or settled both no more and more than twelve months after reporting date [line items] | ||
Interbank borrowings | 35,035 | 186,352 |
Loans from foreign financial institutions [Member] | Due after 3 years but within 4 years [Member] | ||
Disclosure of amounts to be recovered or settled after twelve months for classes of assets and liabilities that contain amounts to be recovered or settled both no more and more than twelve months after reporting date [line items] | ||
Interbank borrowings | 80,473 | |
Loans from foreign financial institutions [Member] | Due after 5 years [Member] | ||
Disclosure of amounts to be recovered or settled after twelve months for classes of assets and liabilities that contain amounts to be recovered or settled both no more and more than twelve months after reporting date [line items] | ||
Interbank borrowings | $ 33,264 |
ISSUED DEBT INSTRUMENTS AND 148
ISSUED DEBT INSTRUMENTS AND OTHER FINANCIAL LIABILITIES (Details) - CLP ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of financial liabilities [line items] | ||
Subtotals | $ 242,030 | $ 240,016 |
Subtotals | 709,365 | 7,326,372 |
Issued debt instruments and other financial liabilities | 7,335,683 | 7,566,388 |
Mortgage Finance Bonds [Member] | ||
Disclosure of financial liabilities [line items] | ||
Subtotals | 34,479 | 46,251 |
Senior bonds [Member] | ||
Disclosure of financial liabilities [line items] | ||
Subtotals | 6,186,760 | 6,416,274 |
Mortgage Bonds [Member] | ||
Disclosure of financial liabilities [line items] | ||
Subtotals | 99,222 | 104,182 |
Subordinated Bonds [Member] | ||
Disclosure of financial liabilities [line items] | ||
Subtotals | 773,192 | 759,665 |
Obligations To Public Sector [Member] | ||
Disclosure of financial liabilities [line items] | ||
Subtotals | 59,470 | 61,490 |
Other Domestic Obligations [Member] | ||
Disclosure of financial liabilities [line items] | ||
Subtotals | 175,389 | 175,028 |
Foreign Obligations [Member] | ||
Disclosure of financial liabilities [line items] | ||
Subtotals | $ 7,171 | $ 3,498 |
ISSUED DEBT INSTRUMENTS AND 149
ISSUED DEBT INSTRUMENTS AND OTHER FINANCIAL LIABILITIES (Details 1) - CLP ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of financial liabilities [line items] | ||
Issued debt instruments current | $ 350,401 | $ 1,151,271 |
Issued debt instruments non current | 6,743,252 | 6,175,101 |
Issued debt instruments | 709,365 | 7,326,372 |
Other financial liabilities current | 212,825 | 158,488 |
Other financial liabilities non current | 29,205 | 81,528 |
Other financial liabilities | 242,030 | 240,016 |
Issued debt instruments and other financial liabilities current | 563,226 | 1,309,759 |
Issued debt instruments and other financial liabilities non current | 6,772,457 | 6,256,629 |
Issued debt instruments and other financial liabilities | 7,335,683 | 7,566,388 |
Mortgage Finance Bonds [Member] | ||
Disclosure of financial liabilities [line items] | ||
Issued debt instruments current | 8,691 | 11,236 |
Issued debt instruments non current | 25,788 | 35,015 |
Issued debt instruments | 34,479 | 46,251 |
Senior bonds [Member] | ||
Disclosure of financial liabilities [line items] | ||
Issued debt instruments current | 337,166 | 1,135,713 |
Issued debt instruments non current | 5,849,594 | 5,280,561 |
Issued debt instruments | 6,186,760 | 6,416,274 |
Mortgage Bonds [Member] | ||
Disclosure of financial liabilities [line items] | ||
Issued debt instruments current | 4,541 | 4,318 |
Issued debt instruments non current | 94,681 | 99,864 |
Issued debt instruments | 99,222 | 104,182 |
Subordinated Bonds [Member] | ||
Disclosure of financial liabilities [line items] | ||
Issued debt instruments current | 3 | 4 |
Issued debt instruments non current | 773,189 | 759,661 |
Issued debt instruments | $ 773,192 | $ 759,665 |
ISSUED DEBT INSTRUMENTS AND 150
ISSUED DEBT INSTRUMENTS AND OTHER FINANCIAL LIABILITIES (Details 2) - CLP ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of financial liabilities [line items] | ||
Issued debt instruments | $ 709,365 | $ 7,326,372 |
Mortgage Finance Bonds [Member] | ||
Disclosure of financial liabilities [line items] | ||
Issued debt instruments | 34,479 | 46,251 |
Mortgage Finance Bonds [Member] | Due within 1 year [Member] | ||
Disclosure of financial liabilities [line items] | ||
Issued debt instruments | 8,691 | 11,236 |
Mortgage Finance Bonds [Member] | Due after 1 year but within 2 years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Issued debt instruments | 6,744 | 8,673 |
Mortgage Finance Bonds [Member] | Due after 2 years but within 3 years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Issued debt instruments | 6,096 | 6,928 |
Mortgage Finance Bonds [Member] | Due after 3 years but within 4 years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Issued debt instruments | 5,155 | 6,246 |
Mortgage Finance Bonds [Member] | Due after 4 years but within 5 years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Issued debt instruments | 4,101 | 5,278 |
Mortgage Finance Bonds [Member] | Due after 5 years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Issued debt instruments | $ 3,692 | $ 7,890 |
ISSUED DEBT INSTRUMENTS AND 151
ISSUED DEBT INSTRUMENTS AND OTHER FINANCIAL LIABILITIES (Details 3) € in Millions, ¥ in Millions, SFr in Millions, $ in Millions, $ in Millions, $ in Millions, in Millions | Dec. 31, 2017CLP ($) | Dec. 31, 2017USD ($) | Dec. 31, 2017EUR (€) | Dec. 31, 2017JPY (¥) | Dec. 31, 2017CLF ( ) | Dec. 31, 2017CHF (SFr) | Dec. 31, 2017AUD ($) | Dec. 31, 2016CLP ($) | Dec. 31, 2016USD ($) | Dec. 31, 2016JPY (¥) | Dec. 31, 2016CLF ( ) | Dec. 31, 2016CHF (SFr) | Dec. 31, 2016AUD ($) |
Disclosure of financial liabilities [line items] | |||||||||||||
Issued debt instruments | $ 709,365 | $ 7,326,372 | |||||||||||
Senior bonds [Member] | |||||||||||||
Disclosure of financial liabilities [line items] | |||||||||||||
Issued debt instruments | 6,186,760 | 6,416,274 | |||||||||||
Senior bonds [Member] | Unidad de Fomento (funds code) [Member] | |||||||||||||
Disclosure of financial liabilities [line items] | |||||||||||||
Issued debt instruments | | 3,542,006 | 3,588,373 | |||||||||||
Senior bonds [Member] | USD | |||||||||||||
Disclosure of financial liabilities [line items] | |||||||||||||
Issued debt instruments | $ 1,045,465 | $ 909,354 | |||||||||||
Senior bonds [Member] | Switzerland, Francs | |||||||||||||
Disclosure of financial liabilities [line items] | |||||||||||||
Issued debt instruments | SFr | SFr 268,281 | SFr 568,549 | |||||||||||
Senior bonds [Member] | Chile, Pesos | |||||||||||||
Disclosure of financial liabilities [line items] | |||||||||||||
Issued debt instruments | $ 1,135,527 | $ 1,037,515 | |||||||||||
Senior bonds [Member] | Australia, Dollars | |||||||||||||
Disclosure of financial liabilities [line items] | |||||||||||||
Issued debt instruments | $ 14,534 | $ 60,890 | |||||||||||
Senior bonds [Member] | Japan, Yen | |||||||||||||
Disclosure of financial liabilities [line items] | |||||||||||||
Issued debt instruments | ¥ | ¥ 126,059 | ¥ 179,426 | |||||||||||
Senior bonds [Member] | Euro Member Countries, Euro | |||||||||||||
Disclosure of financial liabilities [line items] | |||||||||||||
Issued debt instruments | € 54,888 | ¥ 72,167 |
ISSUED DEBT INSTRUMENTS AND 152
ISSUED DEBT INSTRUMENTS AND OTHER FINANCIAL LIABILITIES (Details 4) € in Millions, ¥ in Millions, SFr in Millions, $ in Millions, $ in Millions, $ in Millions, in Millions | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2017CLP ($) | Dec. 31, 2017USD ($) | Dec. 31, 2017CLF ( ) | Dec. 31, 2017AUD ($) | Dec. 31, 2016CLP ($) | Dec. 31, 2016USD ($) | Dec. 31, 2016EUR (€) | Dec. 31, 2016JPY (¥) | Dec. 31, 2016CLF ( ) | Dec. 31, 2016CHF (SFr) | Dec. 31, 2017USD ($) | Dec. 31, 2017CLF ( ) | Dec. 31, 2017AUD ($) | May 10, 2017USD ($) | Mar. 08, 2017USD ($) | Mar. 06, 2017USD ($) | Jan. 27, 2017USD ($) | Jan. 13, 2017USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2016EUR (€) | Dec. 31, 2016JPY (¥) | Dec. 31, 2016CLF ( ) | Dec. 31, 2016CHF (SFr) | Nov. 29, 2016USD ($) | |
Disclosure of financial liabilities [line items] | ||||||||||||||||||||||||
Notional amount | $ 177,224,139 | $ 177,941,295 | ||||||||||||||||||||||
Senior bonds [Member] | Unidad de Fomento (funds code) [Member] | R1 [Member] | ||||||||||||||||||||||||
Disclosure of financial liabilities [line items] | ||||||||||||||||||||||||
Notional amount | | 15 | |||||||||||||||||||||||
Terms Years | P5Y6M | P5Y6M | P5Y6M | P5Y6M | P5Y6M | P5Y6M | ||||||||||||||||||
Issuance rate (annual) | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% | ||||||||||||||||||
Series approval date | Sep. 1, 2015 | Sep. 1, 2015 | Sep. 1, 2015 | Sep. 1, 2015 | Sep. 1, 2015 | Sep. 1, 2015 | ||||||||||||||||||
Series maximum amount | | 15 | |||||||||||||||||||||||
Maturity date | Mar. 1, 2021 | Mar. 1, 2021 | Mar. 1, 2021 | Mar. 1, 2021 | Mar. 1, 2021 | Mar. 1, 2021 | ||||||||||||||||||
Senior bonds [Member] | Unidad de Fomento (funds code) [Member] | R2 [Member] | ||||||||||||||||||||||||
Disclosure of financial liabilities [line items] | ||||||||||||||||||||||||
Notional amount | | 10 | |||||||||||||||||||||||
Terms Years | P7Y6M | P7Y6M | P7Y6M | P7Y6M | P7Y6M | P7Y6M | ||||||||||||||||||
Issuance rate (annual) | 2.60% | 2.60% | 2.60% | 2.60% | 2.60% | 2.60% | ||||||||||||||||||
Series approval date | Sep. 1, 2015 | Sep. 1, 2015 | Sep. 1, 2015 | Sep. 1, 2015 | Sep. 1, 2015 | Sep. 1, 2015 | ||||||||||||||||||
Series maximum amount | | 10 | |||||||||||||||||||||||
Maturity date | Mar. 1, 2023 | Mar. 1, 2023 | Mar. 1, 2023 | Mar. 1, 2023 | Mar. 1, 2023 | Mar. 1, 2023 | ||||||||||||||||||
Senior bonds [Member] | Unidad de Fomento (funds code) [Member] | R3 [Member] | ||||||||||||||||||||||||
Disclosure of financial liabilities [line items] | ||||||||||||||||||||||||
Notional amount | | 10 | |||||||||||||||||||||||
Terms Years | P10Y6M | P10Y6M | P10Y6M | P10Y6M | P10Y6M | P10Y6M | ||||||||||||||||||
Issuance rate (annual) | 3.00% | 3.00% | 3.00% | 3.00% | 3.00% | 3.00% | ||||||||||||||||||
Series approval date | Sep. 1, 2015 | Sep. 1, 2015 | Sep. 1, 2015 | Sep. 1, 2015 | Sep. 1, 2015 | Sep. 1, 2015 | ||||||||||||||||||
Series maximum amount | | 10 | |||||||||||||||||||||||
Maturity date | Mar. 1, 2026 | Mar. 1, 2026 | Mar. 1, 2026 | Mar. 1, 2026 | Mar. 1, 2026 | Mar. 1, 2026 | ||||||||||||||||||
Senior bonds [Member] | Unidad de Fomento (funds code) [Member] | R5 [Member] | ||||||||||||||||||||||||
Disclosure of financial liabilities [line items] | ||||||||||||||||||||||||
Notional amount | | 7 | |||||||||||||||||||||||
Terms Years | P7Y | P7Y | P7Y | P7Y | P7Y | P7Y | ||||||||||||||||||
Issuance rate (annual) | 2.55% | 2.55% | 2.55% | 2.55% | 2.55% | 2.55% | ||||||||||||||||||
Series approval date | Dec. 1, 2015 | Dec. 1, 2015 | Dec. 1, 2015 | Dec. 1, 2015 | Dec. 1, 2015 | Dec. 1, 2015 | ||||||||||||||||||
Series maximum amount | | 7 | |||||||||||||||||||||||
Maturity date | Dec. 1, 2022 | Dec. 1, 2022 | Dec. 1, 2022 | Dec. 1, 2022 | Dec. 1, 2022 | Dec. 1, 2022 | ||||||||||||||||||
Senior bonds [Member] | Unidad de Fomento (funds code) [Member] | R6 [Member] | ||||||||||||||||||||||||
Disclosure of financial liabilities [line items] | ||||||||||||||||||||||||
Notional amount | | 7 | |||||||||||||||||||||||
Terms Years | P9Y | P9Y | P9Y | P9Y | P9Y | P9Y | ||||||||||||||||||
Issuance rate (annual) | 2.65% | 2.65% | 2.65% | 2.65% | 2.65% | 2.65% | ||||||||||||||||||
Series approval date | Dec. 1, 2015 | Dec. 1, 2015 | Dec. 1, 2015 | Dec. 1, 2015 | Dec. 1, 2015 | Dec. 1, 2015 | ||||||||||||||||||
Series maximum amount | | 7 | |||||||||||||||||||||||
Maturity date | Dec. 1, 2024 | Dec. 1, 2024 | Dec. 1, 2024 | Dec. 1, 2024 | Dec. 1, 2024 | Dec. 1, 2024 | ||||||||||||||||||
Senior bonds [Member] | Unidad de Fomento (funds code) [Member] | P9 [Member] | ||||||||||||||||||||||||
Disclosure of financial liabilities [line items] | ||||||||||||||||||||||||
Notional amount | | 3 | |||||||||||||||||||||||
Terms Years | P10Y6M | P10Y6M | P10Y6M | P10Y6M | P10Y6M | P10Y6M | ||||||||||||||||||
Issuance rate (annual) | 2.60% | 2.60% | 2.60% | 2.60% | 2.60% | 2.60% | ||||||||||||||||||
Series approval date | Mar. 1, 2015 | Mar. 1, 2015 | Mar. 1, 2015 | Mar. 1, 2015 | Mar. 1, 2015 | Mar. 1, 2015 | ||||||||||||||||||
Series maximum amount | | 5 | |||||||||||||||||||||||
Maturity date | Sep. 1, 2025 | Sep. 1, 2025 | Sep. 1, 2025 | Sep. 1, 2025 | Sep. 1, 2025 | Sep. 1, 2025 | ||||||||||||||||||
Senior bonds [Member] | Unidad de Fomento (funds code) [Member] | T2 [Member] | ||||||||||||||||||||||||
Disclosure of financial liabilities [line items] | ||||||||||||||||||||||||
Notional amount | | 5 | |||||||||||||||||||||||
Terms Years | P4Y6M | P4Y6M | P4Y6M | P4Y6M | P4Y6M | P4Y6M | ||||||||||||||||||
Issuance rate (annual) | 2.25% | 2.25% | 2.25% | 2.25% | 2.25% | 2.25% | ||||||||||||||||||
Series approval date | Feb. 1, 2016 | Feb. 1, 2016 | Feb. 1, 2016 | Feb. 1, 2016 | Feb. 1, 2016 | Feb. 1, 2016 | ||||||||||||||||||
Series maximum amount | | 5 | |||||||||||||||||||||||
Maturity date | Aug. 1, 2020 | Aug. 1, 2020 | Aug. 1, 2020 | Aug. 1, 2020 | Aug. 1, 2020 | Aug. 1, 2020 | ||||||||||||||||||
Senior bonds [Member] | Unidad de Fomento (funds code) [Member] | T5 [Member] | ||||||||||||||||||||||||
Disclosure of financial liabilities [line items] | ||||||||||||||||||||||||
Notional amount | | 5 | |||||||||||||||||||||||
Terms Years | P6Y | P6Y | P6Y | P6Y | P6Y | P6Y | ||||||||||||||||||
Issuance rate (annual) | 2.40% | 2.40% | 2.40% | 2.40% | 2.40% | 2.40% | ||||||||||||||||||
Series approval date | Feb. 1, 2016 | Feb. 1, 2016 | Feb. 1, 2016 | Feb. 1, 2016 | Feb. 1, 2016 | Feb. 1, 2016 | ||||||||||||||||||
Series maximum amount | | 5 | |||||||||||||||||||||||
Maturity date | Feb. 1, 2022 | Feb. 1, 2022 | Feb. 1, 2022 | Feb. 1, 2022 | Feb. 1, 2022 | Feb. 1, 2022 | ||||||||||||||||||
Senior bonds [Member] | Unidad de Fomento (funds code) [Member] | Total [Member] | ||||||||||||||||||||||||
Disclosure of financial liabilities [line items] | ||||||||||||||||||||||||
Notional amount | | 10 | 62 | ||||||||||||||||||||||
Series maximum amount | | 10 | |||||||||||||||||||||||
Senior bonds [Member] | Unidad de Fomento (funds code) [Member] | T9 [Member] | ||||||||||||||||||||||||
Disclosure of financial liabilities [line items] | ||||||||||||||||||||||||
Notional amount | | 5 | |||||||||||||||||||||||
Terms Years | P7Y | P7Y | P7Y | P7Y | ||||||||||||||||||||
Issuance rate (annual) | 2.60% | 2.60% | 2.60% | 2.60% | ||||||||||||||||||||
Series approval date | Feb. 1, 2016 | Feb. 1, 2016 | Feb. 1, 2016 | Feb. 1, 2016 | ||||||||||||||||||||
Series maximum amount | | 5 | |||||||||||||||||||||||
Maturity date | Feb. 1, 2024 | Feb. 1, 2024 | Feb. 1, 2024 | Feb. 1, 2024 | ||||||||||||||||||||
Senior bonds [Member] | Unidad de Fomento (funds code) [Member] | T13 [Member] | ||||||||||||||||||||||||
Disclosure of financial liabilities [line items] | ||||||||||||||||||||||||
Notional amount | | 5 | |||||||||||||||||||||||
Terms Years | P9Y | P9Y | P9Y | P9Y | ||||||||||||||||||||
Issuance rate (annual) | 2.75% | 2.75% | 2.75% | 2.75% | ||||||||||||||||||||
Series approval date | Feb. 1, 2016 | Feb. 1, 2016 | Feb. 1, 2016 | Feb. 1, 2016 | ||||||||||||||||||||
Series maximum amount | | 5 | |||||||||||||||||||||||
Maturity date | Feb. 1, 2026 | Feb. 1, 2026 | Feb. 1, 2026 | Feb. 1, 2026 | ||||||||||||||||||||
Senior bonds [Member] | Chile, Pesos | Total [Member] | ||||||||||||||||||||||||
Disclosure of financial liabilities [line items] | ||||||||||||||||||||||||
Notional amount | $ 160,000 | |||||||||||||||||||||||
Series maximum amount | 300,000 | |||||||||||||||||||||||
Senior bonds [Member] | Chile, Pesos | R4 [Member] | ||||||||||||||||||||||||
Disclosure of financial liabilities [line items] | ||||||||||||||||||||||||
Notional amount | $ 100,000 | |||||||||||||||||||||||
Terms Years | P5Y6M | P5Y6M | P5Y6M | P5Y6M | P5Y6M | P5Y6M | ||||||||||||||||||
Issuance rate (annual) | 5.50% | 5.50% | 5.50% | 5.50% | 5.50% | 5.50% | ||||||||||||||||||
Series approval date | Sep. 1, 2015 | Sep. 1, 2015 | Sep. 1, 2015 | Sep. 1, 2015 | Sep. 1, 2015 | Sep. 1, 2015 | ||||||||||||||||||
Series maximum amount | $ 100,000 | |||||||||||||||||||||||
Maturity date | Mar. 1, 2021 | Mar. 1, 2021 | Mar. 1, 2021 | Mar. 1, 2021 | Mar. 1, 2021 | Mar. 1, 2021 | ||||||||||||||||||
Senior bonds [Member] | Chile, Pesos | P4 [Member] | ||||||||||||||||||||||||
Disclosure of financial liabilities [line items] | ||||||||||||||||||||||||
Notional amount | $ 50,000 | |||||||||||||||||||||||
Terms Years | P5Y | P5Y | P5Y | P5Y | P5Y | P5Y | ||||||||||||||||||
Issuance rate (annual) | 4.80% | 4.80% | 4.80% | 4.80% | 4.80% | 4.80% | ||||||||||||||||||
Series approval date | Mar. 1, 2015 | Mar. 1, 2015 | Mar. 1, 2015 | Mar. 1, 2015 | Mar. 1, 2015 | Mar. 1, 2015 | ||||||||||||||||||
Series maximum amount | $ 150,000 | |||||||||||||||||||||||
Maturity date | Mar. 1, 2020 | Mar. 1, 2020 | Mar. 1, 2020 | Mar. 1, 2020 | Mar. 1, 2020 | Mar. 1, 2020 | ||||||||||||||||||
Senior bonds [Member] | Chile, Pesos | SD [Member] | ||||||||||||||||||||||||
Disclosure of financial liabilities [line items] | ||||||||||||||||||||||||
Notional amount | $ 60,000 | $ 140,000 | ||||||||||||||||||||||
Terms Years | P5Y | P5Y | P5Y | P5Y | P5Y | P5Y | P5Y | P5Y | P5Y | P5Y | ||||||||||||||
Issuance rate (annual) | 5.50% | 5.50% | 5.50% | 5.50% | 5.50% | 5.50% | 5.50% | 5.50% | 5.50% | 5.50% | ||||||||||||||
Series approval date | Jun. 1, 2014 | Jun. 1, 2014 | Jun. 1, 2014 | Jun. 1, 2014 | Jun. 1, 2014 | Jun. 1, 2014 | Jun. 1, 2014 | Jun. 1, 2014 | Jun. 1, 2014 | Jun. 1, 2014 | ||||||||||||||
Series maximum amount | $ 200,000 | $ 200,000 | ||||||||||||||||||||||
Maturity date | Jun. 1, 2019 | Jun. 1, 2019 | Jun. 1, 2019 | Jun. 1, 2019 | Jun. 1, 2019 | Jun. 1, 2019 | Jun. 1, 2019 | Jun. 1, 2019 | Jun. 1, 2019 | Jun. 1, 2019 | ||||||||||||||
Senior bonds [Member] | Chile, Pesos | SC [Member] | ||||||||||||||||||||||||
Disclosure of financial liabilities [line items] | ||||||||||||||||||||||||
Notional amount | $ 200,000 | |||||||||||||||||||||||
Terms Years | P10Y | P10Y | P10Y | P10Y | P10Y | P10Y | ||||||||||||||||||
Issuance rate (annual) | 5.95% | 5.95% | 5.95% | 5.95% | 5.95% | 5.95% | ||||||||||||||||||
Series approval date | Jun. 1, 2014 | Jun. 1, 2014 | Jun. 1, 2014 | Jun. 1, 2014 | Jun. 1, 2014 | Jun. 1, 2014 | ||||||||||||||||||
Series maximum amount | $ 200,000 | |||||||||||||||||||||||
Maturity date | Jun. 1, 2024 | Jun. 1, 2024 | Jun. 1, 2024 | Jun. 1, 2024 | Jun. 1, 2024 | Jun. 1, 2024 | ||||||||||||||||||
Senior bonds [Member] | Chile, Pesos | P3 [Member] | ||||||||||||||||||||||||
Disclosure of financial liabilities [line items] | ||||||||||||||||||||||||
Notional amount | $ 50,000 | |||||||||||||||||||||||
Terms Years | P7Y | P7Y | P7Y | P7Y | P7Y | P7Y | ||||||||||||||||||
Issuance rate (annual) | 5.50% | 5.50% | 5.50% | 5.50% | 5.50% | 5.50% | ||||||||||||||||||
Series approval date | Jan. 1, 2015 | Jan. 1, 2015 | Jan. 1, 2015 | Jan. 1, 2015 | Jan. 1, 2015 | Jan. 1, 2015 | ||||||||||||||||||
Series maximum amount | $ 50,000 | |||||||||||||||||||||||
Maturity date | Jan. 1, 2022 | Jan. 1, 2022 | Jan. 1, 2022 | Jan. 1, 2022 | Jan. 1, 2022 | Jan. 1, 2022 | ||||||||||||||||||
Senior bonds [Member] | Chile, Pesos | P1 [Member] | ||||||||||||||||||||||||
Disclosure of financial liabilities [line items] | ||||||||||||||||||||||||
Notional amount | $ 50,000 | |||||||||||||||||||||||
Terms Years | P10Y | P10Y | P10Y | P10Y | P10Y | P10Y | ||||||||||||||||||
Issuance rate (annual) | 5.80% | 5.80% | 5.80% | 5.80% | 5.80% | 5.80% | ||||||||||||||||||
Series approval date | Jan. 1, 2015 | Jan. 1, 2015 | Jan. 1, 2015 | Jan. 1, 2015 | Jan. 1, 2015 | Jan. 1, 2015 | ||||||||||||||||||
Series maximum amount | $ 50,000 | |||||||||||||||||||||||
Maturity date | Jan. 1, 2025 | Jan. 1, 2025 | Jan. 1, 2025 | Jan. 1, 2025 | Jan. 1, 2025 | Jan. 1, 2025 | ||||||||||||||||||
Senior bonds [Member] | Chile, Pesos | Total [Member] | ||||||||||||||||||||||||
Disclosure of financial liabilities [line items] | ||||||||||||||||||||||||
Notional amount | $ 590,000 | |||||||||||||||||||||||
Senior bonds [Member] | Chile, Pesos | T16 [Member] | ||||||||||||||||||||||||
Disclosure of financial liabilities [line items] | ||||||||||||||||||||||||
Notional amount | $ 100,000 | |||||||||||||||||||||||
Terms Years | P6Y | P6Y | P6Y | P6Y | ||||||||||||||||||||
Issuance rate (annual) | 5.20% | 5.20% | 5.20% | 5.20% | ||||||||||||||||||||
Series approval date | Feb. 1, 2016 | Feb. 1, 2016 | Feb. 1, 2016 | Feb. 1, 2016 | ||||||||||||||||||||
Series maximum amount | $ 100,000 | |||||||||||||||||||||||
Maturity date | Aug. 1, 2021 | Aug. 1, 2021 | Aug. 1, 2021 | Aug. 1, 2021 | ||||||||||||||||||||
Senior bonds [Member] | Japan, Yen | JPY [Member] | ||||||||||||||||||||||||
Disclosure of financial liabilities [line items] | ||||||||||||||||||||||||
Notional amount | ¥ | ¥ 3,000 | |||||||||||||||||||||||
Terms Years | P5Y | P5Y | P5Y | P5Y | P5Y | P5Y | ||||||||||||||||||
Issuance rate (annual) | 0.115% | 0.115% | 0.115% | 0.115% | 0.115% | 0.115% | ||||||||||||||||||
Series approval date | Jun. 22, 2016 | Jun. 22, 2016 | Jun. 22, 2016 | Jun. 22, 2016 | Jun. 22, 2016 | Jun. 22, 2016 | ||||||||||||||||||
Series maximum amount | ¥ | ¥ 3,000 | |||||||||||||||||||||||
Maturity date | Jun. 29, 2021 | Jun. 29, 2021 | Jun. 29, 2021 | Jun. 29, 2021 | Jun. 29, 2021 | Jun. 29, 2021 | ||||||||||||||||||
Senior bonds [Member] | Japan, Yen | Total [Member] | ||||||||||||||||||||||||
Disclosure of financial liabilities [line items] | ||||||||||||||||||||||||
Notional amount | ¥ | ¥ 3,000 | |||||||||||||||||||||||
Senior bonds [Member] | USD | ||||||||||||||||||||||||
Disclosure of financial liabilities [line items] | ||||||||||||||||||||||||
Notional amount | $ 10,000,000 | $ 418,853,000 | $ 6,900,000 | $ 960,000 | $ 600,000 | $ 6,895,000 | ||||||||||||||||||
Senior bonds [Member] | USD | DN [Member] | ||||||||||||||||||||||||
Disclosure of financial liabilities [line items] | ||||||||||||||||||||||||
Notional amount | $ 100 | $ 10 | ||||||||||||||||||||||
Terms Years | P3Y | P3Y | P3Y | P3Y | P5Y | P5Y | P5Y | P5Y | P5Y | P5Y | ||||||||||||||
Description of Issuance rate (annual) | Libor-USD 3M+1.05% | Libor-USD 3M+1.05% | Libor-USD 3M+1.05% | Libor-USD 3M+1.05% | Libor-USD 3M+1.05% | Libor-USD 3M+1.05% | Libor-USD 3M+1.05% | Libor-USD 3M+1.05% | Libor-USD 3M+1.05% | Libor-USD 3M+1.05% | ||||||||||||||
Series approval date | Jul. 20, 2017 | Jul. 20, 2017 | Jul. 20, 2017 | Jul. 20, 2017 | Jun. 2, 2016 | Jun. 2, 2016 | Jun. 2, 2016 | Jun. 2, 2016 | Jun. 2, 2016 | Jun. 2, 2016 | ||||||||||||||
Series maximum amount | $ 100 | $ 10 | ||||||||||||||||||||||
Maturity date | Jul. 27, 2020 | Jul. 27, 2020 | Jul. 27, 2020 | Jul. 27, 2020 | Jun. 9, 2021 | Jun. 9, 2021 | Jun. 9, 2021 | Jun. 9, 2021 | Jun. 9, 2021 | Jun. 9, 2021 | ||||||||||||||
Senior bonds [Member] | USD | DN [Member] | ||||||||||||||||||||||||
Disclosure of financial liabilities [line items] | ||||||||||||||||||||||||
Notional amount | 50 | 10 | ||||||||||||||||||||||
Terms Years | P3Y | P3Y | P3Y | P3Y | P5Y | P5Y | P5Y | P5Y | P5Y | P5Y | ||||||||||||||
Description of Issuance rate (annual) | Libor-USD 3M+0.80% | Libor-USD 3M+0.80% | Libor-USD 3M+0.80% | Libor-USD 3M+0.80% | Libor-USD 3M+1.22% | Libor-USD 3M+1.22% | Libor-USD 3M+1.22% | Libor-USD 3M+1.22% | Libor-USD 3M+1.22% | Libor-USD 3M+1.22% | ||||||||||||||
Series approval date | Jul. 21, 2017 | Jul. 21, 2017 | Jul. 21, 2017 | Jul. 21, 2017 | Jun. 8, 2016 | Jun. 8, 2016 | Jun. 8, 2016 | Jun. 8, 2016 | Jun. 8, 2016 | Jun. 8, 2016 | ||||||||||||||
Series maximum amount | $ 50 | $ 10 | ||||||||||||||||||||||
Maturity date | Jul. 27, 2020 | Jul. 27, 2020 | Jul. 27, 2020 | Jul. 27, 2020 | Jun. 17, 2021 | Jun. 17, 2021 | Jun. 17, 2021 | Jun. 17, 2021 | Jun. 17, 2021 | Jun. 17, 2021 | ||||||||||||||
Senior bonds [Member] | USD | DN [Member] | ||||||||||||||||||||||||
Disclosure of financial liabilities [line items] | ||||||||||||||||||||||||
Notional amount | 10 | 10 | ||||||||||||||||||||||
Terms Years | P3Y | P3Y | P3Y | P3Y | P5Y | P5Y | P5Y | P5Y | P5Y | P5Y | ||||||||||||||
Description of Issuance rate (annual) | Libor-USD 3M+0.80% | Libor-USD 3M+0.80% | Libor-USD 3M+0.80% | Libor-USD 3M+0.80% | Libor-USD 3M+1.20% | Libor-USD 3M+1.20% | Libor-USD 3M+1.20% | Libor-USD 3M+1.20% | Libor-USD 3M+1.20% | Libor-USD 3M+1.20% | ||||||||||||||
Series approval date | Jul. 21, 2017 | Jul. 21, 2017 | Jul. 21, 2017 | Jul. 21, 2017 | Aug. 1, 2016 | Aug. 1, 2016 | Aug. 1, 2016 | Aug. 1, 2016 | Aug. 1, 2016 | Aug. 1, 2016 | ||||||||||||||
Series maximum amount | $ 50 | $ 10 | ||||||||||||||||||||||
Maturity date | Jul. 27, 2020 | Jul. 27, 2020 | Jul. 27, 2020 | Jul. 27, 2020 | Aug. 16, 2021 | Aug. 16, 2021 | Aug. 16, 2021 | Aug. 16, 2021 | Aug. 16, 2021 | Aug. 16, 2021 | ||||||||||||||
Senior bonds [Member] | USD | DN [Member] | ||||||||||||||||||||||||
Disclosure of financial liabilities [line items] | ||||||||||||||||||||||||
Notional amount | 10 | 185 | ||||||||||||||||||||||
Terms Years | P4Y | P4Y | P4Y | P4Y | P5Y | P5Y | P5Y | P5Y | P5Y | P5Y | ||||||||||||||
Description of Issuance rate (annual) | Libor-USD 3M+0.83% | Libor-USD 3M+0.83% | Libor-USD 3M+0.83% | Libor-USD 3M+0.83% | Libor-USD 3M+1.20% | Libor-USD 3M+1.20% | Libor-USD 3M+1.20% | Libor-USD 3M+1.20% | Libor-USD 3M+1.20% | Libor-USD 3M+1.20% | ||||||||||||||
Series approval date | Aug. 23, 2017 | Aug. 23, 2017 | Aug. 23, 2017 | Aug. 23, 2017 | Nov. 10, 2016 | Nov. 10, 2016 | Nov. 10, 2016 | Nov. 10, 2016 | Nov. 10, 2016 | Nov. 10, 2016 | ||||||||||||||
Series maximum amount | $ 10 | $ 185 | ||||||||||||||||||||||
Maturity date | Nov. 23, 2021 | Nov. 23, 2021 | Nov. 23, 2021 | Nov. 23, 2021 | Nov. 28, 2021 | Nov. 28, 2021 | Nov. 28, 2021 | Nov. 28, 2021 | Nov. 28, 2021 | Nov. 28, 2021 | ||||||||||||||
Senior bonds [Member] | USD | Total [Member] | ||||||||||||||||||||||||
Disclosure of financial liabilities [line items] | ||||||||||||||||||||||||
Notional amount | 770 | $ 215 | ||||||||||||||||||||||
Series maximum amount | $ 770 | |||||||||||||||||||||||
Senior bonds [Member] | USD | DN [Member] | ||||||||||||||||||||||||
Disclosure of financial liabilities [line items] | ||||||||||||||||||||||||
Notional amount | 10 | |||||||||||||||||||||||
Terms Years | P4Y | P4Y | P4Y | P4Y | ||||||||||||||||||||
Description of Issuance rate (annual) | Libor-USD 3M+0.83% | Libor-USD 3M+0.83% | Libor-USD 3M+0.83% | Libor-USD 3M+0.83% | ||||||||||||||||||||
Series approval date | Aug. 23, 2017 | Aug. 23, 2017 | Aug. 23, 2017 | Aug. 23, 2017 | ||||||||||||||||||||
Series maximum amount | $ 10 | |||||||||||||||||||||||
Maturity date | Nov. 23, 2021 | Nov. 23, 2021 | Nov. 23, 2021 | Nov. 23, 2021 | ||||||||||||||||||||
Senior bonds [Member] | USD | DN [Member] | ||||||||||||||||||||||||
Disclosure of financial liabilities [line items] | ||||||||||||||||||||||||
Notional amount | 50 | |||||||||||||||||||||||
Terms Years | P3Y | P3Y | P3Y | P3Y | ||||||||||||||||||||
Description of Issuance rate (annual) | Libor-USD 3M+0.75% | Libor-USD 3M+0.75% | Libor-USD 3M+0.75% | Libor-USD 3M+0.75% | ||||||||||||||||||||
Series approval date | Sep. 14, 2017 | Sep. 14, 2017 | Sep. 14, 2017 | Sep. 14, 2017 | ||||||||||||||||||||
Series maximum amount | $ 50 | |||||||||||||||||||||||
Maturity date | Sep. 15, 2020 | Sep. 15, 2020 | Sep. 15, 2020 | Sep. 15, 2020 | ||||||||||||||||||||
Senior bonds [Member] | USD | DN [Member] | ||||||||||||||||||||||||
Disclosure of financial liabilities [line items] | ||||||||||||||||||||||||
Notional amount | $ 500 | |||||||||||||||||||||||
Terms Years | P3Y | P3Y | P3Y | P3Y | ||||||||||||||||||||
Issuance rate (annual) | 2.50% | 2.50% | 2.50% | 2.50% | ||||||||||||||||||||
Series approval date | Dec. 12, 2017 | Dec. 12, 2017 | Dec. 12, 2017 | Dec. 12, 2017 | ||||||||||||||||||||
Series maximum amount | $ 500 | |||||||||||||||||||||||
Maturity date | Dec. 15, 2020 | Dec. 15, 2020 | Dec. 15, 2020 | Dec. 15, 2020 | ||||||||||||||||||||
Senior bonds [Member] | Euro Member Countries, Euro | EUR [Member] | ||||||||||||||||||||||||
Disclosure of financial liabilities [line items] | ||||||||||||||||||||||||
Notional amount | € | € 54 | |||||||||||||||||||||||
Terms Years | P12Y | P12Y | P12Y | P12Y | P12Y | P12Y | ||||||||||||||||||
Issuance rate (annual) | 1.307% | 1.307% | 1.307% | 1.307% | 1.307% | 1.307% | ||||||||||||||||||
Series approval date | Aug. 5, 2016 | Aug. 5, 2016 | Aug. 5, 2016 | Aug. 5, 2016 | Aug. 5, 2016 | Aug. 5, 2016 | ||||||||||||||||||
Series maximum amount | € | € 54 | |||||||||||||||||||||||
Maturity date | Aug. 17, 2028 | Aug. 17, 2028 | Aug. 17, 2028 | Aug. 17, 2028 | Aug. 17, 2028 | Aug. 17, 2028 | ||||||||||||||||||
Senior bonds [Member] | Euro Member Countries, Euro | EUR [Member] | ||||||||||||||||||||||||
Disclosure of financial liabilities [line items] | ||||||||||||||||||||||||
Notional amount | € | € 20 | |||||||||||||||||||||||
Terms Years | P8Y | P8Y | P8Y | P8Y | P8Y | P8Y | ||||||||||||||||||
Issuance rate (annual) | 0.80% | 0.80% | 0.80% | 0.80% | 0.80% | 0.80% | ||||||||||||||||||
Series approval date | Aug. 4, 2016 | Aug. 4, 2016 | Aug. 4, 2016 | Aug. 4, 2016 | Aug. 4, 2016 | Aug. 4, 2016 | ||||||||||||||||||
Series maximum amount | € | € 20 | |||||||||||||||||||||||
Maturity date | Aug. 19, 2024 | Aug. 19, 2024 | Aug. 19, 2024 | Aug. 19, 2024 | Aug. 19, 2024 | Aug. 19, 2024 | ||||||||||||||||||
Senior bonds [Member] | Euro Member Countries, Euro | EUR [Member] | ||||||||||||||||||||||||
Disclosure of financial liabilities [line items] | ||||||||||||||||||||||||
Notional amount | € | € 30 | |||||||||||||||||||||||
Terms Years | P3Y | P3Y | P3Y | P3Y | P3Y | P3Y | ||||||||||||||||||
Issuance rate (annual) | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | ||||||||||||||||||
Series approval date | Dec. 9, 2016 | Dec. 9, 2016 | Dec. 9, 2016 | Dec. 9, 2016 | Dec. 9, 2016 | Dec. 9, 2016 | ||||||||||||||||||
Series maximum amount | € | € 30 | |||||||||||||||||||||||
Maturity date | Dec. 20, 2019 | Dec. 20, 2019 | Dec. 20, 2019 | Dec. 20, 2019 | Dec. 20, 2019 | Dec. 20, 2019 | ||||||||||||||||||
Senior bonds [Member] | Euro Member Countries, Euro | Total [Member] | ||||||||||||||||||||||||
Disclosure of financial liabilities [line items] | ||||||||||||||||||||||||
Notional amount | € | € 104 | |||||||||||||||||||||||
Senior bonds [Member] | Switzerland, Francs | CHF [Member] | ||||||||||||||||||||||||
Disclosure of financial liabilities [line items] | ||||||||||||||||||||||||
Notional amount | SFr | SFr 125 | |||||||||||||||||||||||
Terms Years | P8Y6M | P8Y6M | P8Y6M | P8Y6M | P8Y6M | P8Y6M | ||||||||||||||||||
Issuance rate (annual) | 35.00% | 35.00% | 35.00% | 35.00% | 35.00% | 35.00% | ||||||||||||||||||
Series approval date | Nov. 14, 2016 | Nov. 14, 2016 | Nov. 14, 2016 | Nov. 14, 2016 | Nov. 14, 2016 | Nov. 14, 2016 | ||||||||||||||||||
Series maximum amount | SFr | SFr 125 | |||||||||||||||||||||||
Maturity date | May 30, 2025 | May 30, 2025 | May 30, 2025 | May 30, 2025 | May 30, 2025 | May 30, 2025 | ||||||||||||||||||
Senior bonds [Member] | Switzerland, Francs | Total [Member] | ||||||||||||||||||||||||
Disclosure of financial liabilities [line items] | ||||||||||||||||||||||||
Notional amount | SFr | SFr 125 | |||||||||||||||||||||||
Senior bonds [Member] | Australia, Dollars | Total [Member] | ||||||||||||||||||||||||
Disclosure of financial liabilities [line items] | ||||||||||||||||||||||||
Notional amount | $ 30 | |||||||||||||||||||||||
Series maximum amount | $ 30 | |||||||||||||||||||||||
Senior bonds [Member] | Australia, Dollars | Senior Bonds Related To AUD [Member] | ||||||||||||||||||||||||
Disclosure of financial liabilities [line items] | ||||||||||||||||||||||||
Notional amount | $ 30 | |||||||||||||||||||||||
Terms Years | P10Y | P10Y | P10Y | P10Y | ||||||||||||||||||||
Issuance rate (annual) | 3.96% | 3.96% | 3.96% | 3.96% | ||||||||||||||||||||
Series approval date | Dec. 5, 2017 | Dec. 5, 2017 | Dec. 5, 2017 | Dec. 5, 2017 | ||||||||||||||||||||
Series maximum amount | $ 30 | |||||||||||||||||||||||
Maturity date | Dec. 12, 2027 | Dec. 12, 2027 | Dec. 12, 2027 | Dec. 12, 2027 |
ISSUED DEBT INSTRUMENTS AND 153
ISSUED DEBT INSTRUMENTS AND OTHER FINANCIAL LIABILITIES (Details 5) $ in Millions, $ in Millions | Dec. 31, 2017CLP ($) | Dec. 12, 2017CLP ($) | Dec. 06, 2017CLP ($) | Nov. 29, 2017CLP ($) | Nov. 03, 2017CLP ($) | Aug. 29, 2017CLP ($) | Aug. 28, 2017CLP ($) | Jul. 21, 2017CLP ($) | Jul. 10, 2017CLP ($) | Jun. 19, 2017CLP ($) | Jun. 05, 2017CLP ($) | Jun. 02, 2017CLP ($) | Jun. 01, 2017CLP ($) | May 26, 2017CLP ($) | May 17, 2017CLP ($) | May 16, 2017CLP ($) | May 12, 2017CLP ($) | May 10, 2017USD ($) | Mar. 08, 2017USD ($) | Mar. 06, 2017USD ($) | Jan. 27, 2017USD ($) | Jan. 13, 2017USD ($) | Dec. 31, 2016CLP ($) | Nov. 29, 2016USD ($) |
Disclosure of financial liabilities [line items] | ||||||||||||||||||||||||
Notional amount | $ 177,224,139 | $ 177,941,295 | ||||||||||||||||||||||
Senior bonds [Member] | USD | ||||||||||||||||||||||||
Disclosure of financial liabilities [line items] | ||||||||||||||||||||||||
Notional amount | $ 10,000,000 | $ 418,853,000 | $ 6,900,000 | $ 960,000 | $ 600,000 | $ 6,895,000 | ||||||||||||||||||
Senior bonds [Member] | UF | ||||||||||||||||||||||||
Disclosure of financial liabilities [line items] | ||||||||||||||||||||||||
Notional amount | $ 20,000 | $ 400,000 | $ 14,000 | $ 2,000 | $ 200,000 | $ 10,000 | $ 770,000 | $ 265,000 | $ 130,000 | $ 300,000 | $ 590,000 | $ 340,000 | $ 15,000 | $ 690,000 | $ 1,000,000 | |||||||||
Senior bonds [Member] | UF | ||||||||||||||||||||||||
Disclosure of financial liabilities [line items] | ||||||||||||||||||||||||
Notional amount | $ 270,000 | $ 200,000 | ||||||||||||||||||||||
Senior bonds [Member] | CLP | ||||||||||||||||||||||||
Disclosure of financial liabilities [line items] | ||||||||||||||||||||||||
Notional amount | $ 10,990,000,000 |
ISSUED DEBT INSTRUMENTS AND 154
ISSUED DEBT INSTRUMENTS AND OTHER FINANCIAL LIABILITIES (Details 6) - CLP ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of financial liabilities [line items] | ||
Issued debt instruments | $ 709,365 | $ 7,326,372 |
Senior bonds [Member] | ||
Disclosure of financial liabilities [line items] | ||
Issued debt instruments | 6,186,760 | 6,416,274 |
Senior bonds [Member] | Due within 1 year [Member] | ||
Disclosure of financial liabilities [line items] | ||
Issued debt instruments | 337,166 | 1,135,713 |
Senior bonds [Member] | Due after 1 year but within 2 years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Issued debt instruments | 866,936 | 321,509 |
Senior bonds [Member] | Due after 2 years but within 3 years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Issued debt instruments | 832,978 | 816,919 |
Senior bonds [Member] | Due after 3 years but within 4 years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Issued debt instruments | 1,177,081 | 663,289 |
Senior bonds [Member] | Due after 4 years but within 5 years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Issued debt instruments | 902,647 | 754,768 |
Senior bonds [Member] | Due after 5 years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Issued debt instruments | $ 2,069,952 | $ 2,724,076 |
ISSUED DEBT INSTRUMENTS AND 155
ISSUED DEBT INSTRUMENTS AND OTHER FINANCIAL LIABILITIES (Details 7) $ in Millions, in Millions | Dec. 31, 2017CLP ($) | Dec. 31, 2017CLF ( ) | Dec. 31, 2016CLP ($) | Dec. 31, 2016CLF ( ) |
Disclosure of financial liabilities [line items] | ||||
Issued debt instruments | $ 709,365 | $ 7,326,372 | ||
Mortgage Bonds [Member] | ||||
Disclosure of financial liabilities [line items] | ||||
Issued debt instruments | $ 99,222 | $ 104,182 | ||
Mortgage Bonds [Member] | Unidad de Fomento (funds code) [Member] | ||||
Disclosure of financial liabilities [line items] | ||||
Issued debt instruments | | 99,222 | 104,182 |
ISSUED DEBT INSTRUMENTS AND 156
ISSUED DEBT INSTRUMENTS AND OTHER FINANCIAL LIABILITIES (Details 8) - CLP ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of financial liabilities [line items] | ||
Issued debt instruments | $ 709,365 | $ 7,326,372 |
Mortgage Bonds [Member] | ||
Disclosure of financial liabilities [line items] | ||
Issued debt instruments | 99,222 | 104,182 |
Mortgage Bonds [Member] | Due within 1 year [Member] | ||
Disclosure of financial liabilities [line items] | ||
Issued debt instruments | 4,541 | 4,318 |
Mortgage Bonds [Member] | Due after 1 year but within 2 years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Issued debt instruments | 7,291 | 6,932 |
Mortgage Bonds [Member] | Due after 2 years but within 3 years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Issued debt instruments | 7,526 | 7,156 |
Mortgage Bonds [Member] | Due after 3 years but within 4 years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Issued debt instruments | 7,769 | 7,386 |
Mortgage Bonds [Member] | Due after 4 years but within 5 years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Issued debt instruments | 8,019 | 7,626 |
Mortgage Bonds [Member] | Due after 5 years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Issued debt instruments | $ 64,076 | $ 70,764 |
ISSUED DEBT INSTRUMENTS AND 157
ISSUED DEBT INSTRUMENTS AND OTHER FINANCIAL LIABILITIES (Details 9) $ in Millions, in Millions | Dec. 31, 2017CLP ($) | Dec. 31, 2017CLF ( ) | Dec. 31, 2016CLP ($) | Dec. 31, 2016CLF ( ) |
Disclosure of financial liabilities [line items] | ||||
Issued debt instruments | $ 709,365 | $ 7,326,372 | ||
Subordinated Bonds [Member] | ||||
Disclosure of financial liabilities [line items] | ||||
Issued debt instruments | 773,192 | 759,665 | ||
Subordinated Bonds [Member] | Chile, Pesos | ||||
Disclosure of financial liabilities [line items] | ||||
Issued debt instruments | $ 3 | $ 4 | ||
Subordinated Bonds [Member] | Unidad de Fomento (funds code) [Member] | ||||
Disclosure of financial liabilities [line items] | ||||
Issued debt instruments | | 773,189 | 759,661 |
ISSUED DEBT INSTRUMENTS AND 158
ISSUED DEBT INSTRUMENTS AND OTHER FINANCIAL LIABILITIES (Details 10) - CLP ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of financial liabilities [line items] | ||
Issued debt instruments | $ 709,365 | $ 7,326,372 |
Subordinated Bonds [Member] | ||
Disclosure of financial liabilities [line items] | ||
Issued debt instruments | 773,192 | 759,665 |
Subordinated Bonds [Member] | Due within 1 year [Member] | ||
Disclosure of financial liabilities [line items] | ||
Issued debt instruments | 3 | 4 |
Subordinated Bonds [Member] | Due after 1 year but within 2 years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Issued debt instruments | ||
Subordinated Bonds [Member] | Due after 2 years but within 3 years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Issued debt instruments | ||
Subordinated Bonds [Member] | Due after 3 years but within 4 years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Issued debt instruments | ||
Subordinated Bonds [Member] | Due after 4 years but within 5 years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Issued debt instruments | ||
Subordinated Bonds [Member] | Due after 5 years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Issued debt instruments | $ 773,189 | $ 759,661 |
ISSUED DEBT INSTRUMENTS AND 159
ISSUED DEBT INSTRUMENTS AND OTHER FINANCIAL LIABILITIES (Details 11) - CLP ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Non-current portion: | ||
Non-current portion subtotal | $ 29,205 | $ 81,528 |
Current portion: | ||
Amounts due to credit card operators | 173,271 | 151,620 |
Acceptance of letters of credit | 2,780 | 2,069 |
Other long-term financial obligations, short-term portion | 36,774 | 4,799 |
Current portion subtotal | 212,825 | 158,488 |
Total other financial liabilities | 242,030 | 240,016 |
Due after 1 year but within 2 years [Member] | ||
Non-current portion: | ||
Non-current portion subtotal | 23,401 | 33,777 |
Due after 2 years but within 3 years [Member] | ||
Non-current portion: | ||
Non-current portion subtotal | 4,181 | 24,863 |
Due after 3 years but within 4 years [Member] | ||
Non-current portion: | ||
Non-current portion subtotal | 194 | 5,794 |
Due after 4 years but within 5 years [Member] | ||
Non-current portion: | ||
Non-current portion subtotal | 210 | 1,973 |
Due after 5 years [Member] | ||
Non-current portion: | ||
Non-current portion subtotal | $ 1,219 | $ 15,121 |
MATURITY OF FINANCIAL ASSETS160
MATURITY OF FINANCIAL ASSETS AND LIABILITIES (Details) - CLP ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 | ||
Disclosure of financial assets [line items] | ||||
Total financial assets | $ 35,823,605 | $ 37,030,025 | ||
Total financial liabilities | 32,675,685 | 34,091,826 | ||
Deposits and other demand liabilities [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | 7,768,166 | 7,539,315 | ||
Cash items in process of being cleared [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | 486,726 | 288,473 | ||
Obligations under repurchase agreements [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | 268,061 | 212,437 | ||
Time deposits and other time liabilities [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | 11,913,945 | 13,151,709 | ||
Financial derivative contracts [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | 2,139,488 | 2,292,161 | ||
Interbank Borrowings [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | 1,698,357 | 1,916,368 | ||
Issue debt instruments [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | 7,093,653 | 7,326,372 | ||
Other financial liabilities [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | 242,030 | 240,016 | ||
Guarantees received (margin accounts) [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | 408,313 | 480,926 | ||
Demand [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | 3,214,657 | 3,888,267 | ||
Total financial liabilities | 8,966,477 | 8,587,847 | ||
Demand [Member] | Deposits and other demand liabilities [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | 7,768,166 | 7,539,315 | ||
Demand [Member] | Cash items in process of being cleared [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | 486,726 | 288,473 | ||
Demand [Member] | Obligations under repurchase agreements [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | ||||
Demand [Member] | Time deposits and other time liabilities [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | 121,479 | 121,527 | ||
Demand [Member] | Financial derivative contracts [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | ||||
Demand [Member] | Interbank Borrowings [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | 4,130 | 4,557 | ||
Demand [Member] | Issue debt instruments [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | ||||
Demand [Member] | Other financial liabilities [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | 177,663 | 153,049 | ||
Demand [Member] | Guarantees received (margin accounts) [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | 408,313 | 480,926 | ||
Not later than one month [member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | 2,480,411 | 4,129,179 | ||
Total financial liabilities | 5,600,399 | 6,828,564 | ||
Not later than one month [member] | Deposits and other demand liabilities [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | ||||
Not later than one month [member] | Cash items in process of being cleared [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | ||||
Not later than one month [member] | Obligations under repurchase agreements [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | 268,061 | 212,437 | ||
Not later than one month [member] | Time deposits and other time liabilities [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | 5,120,171 | 6,105,767 | ||
Not later than one month [member] | Financial derivative contracts [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | 144,410 | 92,335 | ||
Not later than one month [member] | Interbank Borrowings [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | 46,013 | 373,423 | ||
Not later than one month [member] | Issue debt instruments [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | 21,043 | 43,141 | ||
Not later than one month [member] | Other financial liabilities [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | 701 | 1,461 | ||
Not later than one month [member] | Guarantees received (margin accounts) [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | ||||
Later than one month and not later than three months [member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | 2,655,971 | 2,627,884 | ||
Total financial liabilities | 4,852,836 | 4,618,826 | ||
Later than one month and not later than three months [member] | Deposits and other demand liabilities [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | ||||
Later than one month and not later than three months [member] | Cash items in process of being cleared [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | ||||
Later than one month and not later than three months [member] | Obligations under repurchase agreements [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | ||||
Later than one month and not later than three months [member] | Time deposits and other time liabilities [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | 4,201,271 | 4,193,906 | ||
Later than one month and not later than three months [member] | Financial derivative contracts [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | 196,444 | 122,565 | ||
Later than one month and not later than three months [member] | Interbank Borrowings [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | 397,419 | 115,769 | ||
Later than one month and not later than three months [member] | Issue debt instruments [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | 55,119 | 185,425 | ||
Later than one month and not later than three months [member] | Other financial liabilities [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | 2,583 | 1,161 | ||
Later than one month and not later than three months [member] | Guarantees received (margin accounts) [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | ||||
More than 3 months to 1 year [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | 4,933,977 | 5,339,624 | ||
Total financial liabilities | 3,991,665 | 4,880,777 | ||
More than 3 months to 1 year [Member] | Deposits and other demand liabilities [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | ||||
More than 3 months to 1 year [Member] | Cash items in process of being cleared [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | ||||
More than 3 months to 1 year [Member] | Obligations under repurchase agreements [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | ||||
More than 3 months to 1 year [Member] | Time deposits and other time liabilities [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | 2,299,018 | 2,537,299 | ||
More than 3 months to 1 year [Member] | Financial derivative contracts [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | 356,288 | 263,893 | ||
More than 3 months to 1 year [Member] | Interbank Borrowings [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | 1,030,241 | 1,154,063 | ||
More than 3 months to 1 year [Member] | Issue debt instruments [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | 274,239 | 922,705 | ||
More than 3 months to 1 year [Member] | Other financial liabilities [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | 31,879 | 2,817 | ||
More than 3 months to 1 year [Member] | Guarantees received (margin accounts) [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | ||||
Due within 1 year [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | 13,285,016 | 15,984,954 | ||
Total financial liabilities | 23,411,377 | 24,916,014 | ||
Due within 1 year [Member] | Deposits and other demand liabilities [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | 7,768,166 | 7,539,315 | ||
Due within 1 year [Member] | Cash items in process of being cleared [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | 486,726 | 288,473 | ||
Due within 1 year [Member] | Obligations under repurchase agreements [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | 268,061 | 212,437 | ||
Due within 1 year [Member] | Time deposits and other time liabilities [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | 11,741,939 | 12,958,499 | ||
Due within 1 year [Member] | Financial derivative contracts [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | 697,142 | 478,793 | ||
Due within 1 year [Member] | Interbank Borrowings [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | 1,477,803 | 1,647,812 | ||
Due within 1 year [Member] | Issue debt instruments [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | 350,401 | 1,151,271 | ||
Due within 1 year [Member] | Other financial liabilities [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | 212,826 | 158,488 | ||
Due within 1 year [Member] | Guarantees received (margin accounts) [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | 408,313 | 480,926 | ||
Later than one year and not later than three years [member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | 6,240,042 | 5,581,761 | ||
Total financial liabilities | 2,461,121 | 2,072,940 | ||
Later than one year and not later than three years [member] | Deposits and other demand liabilities [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | ||||
Later than one year and not later than three years [member] | Cash items in process of being cleared [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | ||||
Later than one year and not later than three years [member] | Obligations under repurchase agreements [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | ||||
Later than one year and not later than three years [member] | Time deposits and other time liabilities [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | 106,833 | 118,101 | ||
Later than one year and not later than three years [member] | Financial derivative contracts [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | 378,582 | 494,539 | ||
Later than one year and not later than three years [member] | Interbank Borrowings [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | 220,554 | 233,542 | ||
Later than one year and not later than three years [member] | Issue debt instruments [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | 1,727,571 | 1,168,117 | ||
Later than one year and not later than three years [member] | Other financial liabilities [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | 27,581 | 58,641 | ||
Later than one year and not later than three years [member] | Guarantees received (margin accounts) [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | ||||
Later than three years and not later than five years [member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | 4,375,295 | 3,753,757 | ||
Total financial liabilities | 2,466,344 | 1,848,234 | ||
Later than three years and not later than five years [member] | Deposits and other demand liabilities [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | ||||
Later than three years and not later than five years [member] | Cash items in process of being cleared [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | ||||
Later than three years and not later than five years [member] | Obligations under repurchase agreements [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | ||||
Later than three years and not later than five years [member] | Time deposits and other time liabilities [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | 2,811 | 13,913 | ||
Later than three years and not later than five years [member] | Financial derivative contracts [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | 358,358 | 346,948 | ||
Later than three years and not later than five years [member] | Interbank Borrowings [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | 35,014 | |||
Later than three years and not later than five years [member] | Issue debt instruments [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | 2,104,771 | 1,444,593 | ||
Later than three years and not later than five years [member] | Other financial liabilities [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | 404 | 7,766 | ||
Later than three years and not later than five years [member] | Guarantees received (margin accounts) [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | ||||
Due after 5 years [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | 11,569,324 | 11,350,331 | ||
Total financial liabilities | 4,610,589 | 3,679,897 | ||
Due after 5 years [Member] | Deposits and other demand liabilities [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | ||||
Due after 5 years [Member] | Cash items in process of being cleared [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | ||||
Due after 5 years [Member] | Obligations under repurchase agreements [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | ||||
Due after 5 years [Member] | Time deposits and other time liabilities [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | 62,362 | 61,196 | ||
Due after 5 years [Member] | Financial derivative contracts [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | 705,406 | 971,881 | ||
Due after 5 years [Member] | Interbank Borrowings [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | ||||
Due after 5 years [Member] | Issue debt instruments [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | 2,910,910 | 3,562,391 | ||
Due after 5 years [Member] | Other financial liabilities [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | 1,219 | 15,121 | ||
Due after 5 years [Member] | Guarantees received (margin accounts) [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | ||||
More than 1 Year [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | 22,184,661 | 20,685,849 | ||
Total financial liabilities | 8,607,362 | 8,531,763 | ||
More than 1 Year [Member] | Deposits and other demand liabilities [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | ||||
More than 1 Year [Member] | Cash items in process of being cleared [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | ||||
More than 1 Year [Member] | Obligations under repurchase agreements [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | ||||
More than 1 Year [Member] | Time deposits and other time liabilities [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | 172,006 | 193,210 | ||
More than 1 Year [Member] | Financial derivative contracts [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | 1,442,346 | 1,813,368 | ||
More than 1 Year [Member] | Interbank Borrowings [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | 220,554 | 268,556 | ||
More than 1 Year [Member] | Issue debt instruments [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | 6,743,252 | 6,175,101 | ||
More than 1 Year [Member] | Other financial liabilities [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | 29,204 | 81,528 | ||
More than 1 Year [Member] | Guarantees received (margin accounts) [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial liabilities | ||||
Cash and deposits in banks [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | 1,452,922 | 2,279,389 | ||
Cash and deposits in banks [Member] | Demand [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | 1,452,922 | 2,279,389 | ||
Cash and deposits in banks [Member] | Not later than one month [member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | ||||
Cash and deposits in banks [Member] | Later than one month and not later than three months [member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | ||||
Cash and deposits in banks [Member] | More than 3 months to 1 year [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | ||||
Cash and deposits in banks [Member] | Due within 1 year [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | 1,452,922 | 2,279,389 | ||
Cash and deposits in banks [Member] | Later than one year and not later than three years [member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | ||||
Cash and deposits in banks [Member] | Later than three years and not later than five years [member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | ||||
Cash and deposits in banks [Member] | Due after 5 years [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | ||||
Cash and deposits in banks [Member] | More than 1 Year [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | ||||
Cash items in process of collection [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | 668,145 | 495,283 | ||
Cash items in process of collection [Member] | Demand [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | 668,145 | 495,283 | ||
Cash items in process of collection [Member] | Not later than one month [member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | ||||
Cash items in process of collection [Member] | Later than one month and not later than three months [member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | ||||
Cash items in process of collection [Member] | More than 3 months to 1 year [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | ||||
Cash items in process of collection [Member] | Due within 1 year [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | 668,145 | 495,283 | ||
Cash items in process of collection [Member] | Later than one year and not later than three years [member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | ||||
Cash items in process of collection [Member] | Later than three years and not later than five years [member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | ||||
Cash items in process of collection [Member] | Due after 5 years [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | ||||
Cash items in process of collection [Member] | More than 1 Year [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | ||||
Trading investments [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | 485,736 | 396,987 | ||
Trading investments [Member] | Demand [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | ||||
Trading investments [Member] | Not later than one month [member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | 72,983 | 52,443 | ||
Trading investments [Member] | Later than one month and not later than three months [member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | 4,024 | 13,252 | ||
Trading investments [Member] | More than 3 months to 1 year [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | 68,277 | 118,845 | ||
Trading investments [Member] | Due within 1 year [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | 145,284 | 184,540 | ||
Trading investments [Member] | Later than one year and not later than three years [member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | 110,824 | 75,378 | ||
Trading investments [Member] | Later than three years and not later than five years [member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | 90,507 | 106,808 | ||
Trading investments [Member] | Due after 5 years [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | 139,121 | 30,261 | ||
Trading investments [Member] | More than 1 Year [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | 340,452 | 212,447 | ||
Investments under resale agreements [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | 6,736 | |||
Investments under resale agreements [Member] | Demand [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | ||||
Investments under resale agreements [Member] | Not later than one month [member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | 6,736 | |||
Investments under resale agreements [Member] | Later than one month and not later than three months [member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | ||||
Investments under resale agreements [Member] | More than 3 months to 1 year [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | ||||
Investments under resale agreements [Member] | Due within 1 year [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | 6,736 | |||
Investments under resale agreements [Member] | Later than one year and not later than three years [member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | ||||
Investments under resale agreements [Member] | Later than three years and not later than five years [member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | ||||
Investments under resale agreements [Member] | Due after 5 years [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | ||||
Investments under resale agreements [Member] | More than 1 Year [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | ||||
Financial derivative contracts [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | 2,238,647 | 2,500,782 | ||
Financial derivative contracts [Member] | Demand [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | ||||
Financial derivative contracts [Member] | Not later than one month [member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | 135,780 | 82,243 | ||
Financial derivative contracts [Member] | Later than one month and not later than three months [member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | 198,876 | 120,653 | ||
Financial derivative contracts [Member] | More than 3 months to 1 year [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | 410,415 | 292,801 | ||
Financial derivative contracts [Member] | Due within 1 year [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | 745,071 | 495,697 | ||
Financial derivative contracts [Member] | Later than one year and not later than three years [member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | 385,428 | 531,094 | ||
Financial derivative contracts [Member] | Later than three years and not later than five years [member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | 371,090 | 357,833 | ||
Financial derivative contracts [Member] | Due after 5 years [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | 737,058 | 1,116,158 | ||
Financial derivative contracts [Member] | More than 1 Year [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | 1,493,576 | 2,005,085 | ||
Interbank Borrowings [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | 162,685 | [1] | 272,807 | [2] |
Interbank Borrowings [Member] | Demand [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | [1] | [2] | ||
Interbank Borrowings [Member] | Not later than one month [member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | 6,064 | [1] | 12,859 | [2] |
Interbank Borrowings [Member] | Later than one month and not later than three months [member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | 152,911 | [1] | 135,756 | [2] |
Interbank Borrowings [Member] | More than 3 months to 1 year [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | 3,710 | [1] | 124,143 | [2] |
Interbank Borrowings [Member] | Due within 1 year [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | 162,685 | [1] | 272,758 | [2] |
Interbank Borrowings [Member] | Later than one year and not later than three years [member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | [1] | 44 | [2] | |
Interbank Borrowings [Member] | Later than three years and not later than five years [member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | [1] | [2] | ||
Interbank Borrowings [Member] | Due after 5 years [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | [1] | 5 | [2] | |
Interbank Borrowings [Member] | More than 1 Year [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | [1] | 49 | [2] | |
Loans and accounts receivables from customers [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | 27,563,229 | [3] | 26,933,624 | [4] |
Loans and accounts receivables from customers [Member] | Demand [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | 769,823 | [3] | 717,306 | [4] |
Loans and accounts receivables from customers [Member] | Not later than one month [member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | 2,206,734 | [3] | 2,393,216 | [4] |
Loans and accounts receivables from customers [Member] | Later than one month and not later than three months [member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | 2,288,372 | [3] | 2,108,001 | [4] |
Loans and accounts receivables from customers [Member] | More than 3 months to 1 year [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | 4,348,975 | [3] | 4,488,993 | [4] |
Loans and accounts receivables from customers [Member] | Due within 1 year [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | 9,613,904 | [3] | 9,707,516 | [4] |
Loans and accounts receivables from customers [Member] | Later than one year and not later than three years [member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | 5,187,501 | [3] | 4,937,271 | [4] |
Loans and accounts receivables from customers [Member] | Later than three years and not later than five years [member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | 2,938,326 | [3] | 2,909,140 | [2] |
Loans and accounts receivables from customers [Member] | Due after 5 years [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | 9,823,498 | [3] | 9,379,697 | [4] |
Loans and accounts receivables from customers [Member] | More than 1 Year [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | 17,949,325 | [3] | 17,226,108 | [4] |
Available for sale investments [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | 2,574,546 | 3,388,906 | ||
Available for sale investments [Member] | Demand [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | ||||
Available for sale investments [Member] | Not later than one month [member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | 58,850 | 1,581,682 | ||
Available for sale investments [Member] | Later than one month and not later than three months [member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | 11,788 | 250,222 | ||
Available for sale investments [Member] | More than 3 months to 1 year [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | 102,600 | 314,842 | ||
Available for sale investments [Member] | Due within 1 year [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | 173,238 | 2,146,746 | ||
Available for sale investments [Member] | Later than one year and not later than three years [member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | 556,289 | 37,974 | ||
Available for sale investments [Member] | Later than three years and not later than five years [member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | 975,372 | 379,976 | ||
Available for sale investments [Member] | Due after 5 years [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | 869,647 | 824,210 | ||
Available for sale investments [Member] | More than 1 Year [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | 2,401,308 | 1,242,160 | ||
Guarantee Deposits (Margin Accounts) [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | 323,767 | 396,289 | ||
Guarantee Deposits (Margin Accounts) [Member] | Demand [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | 323,767 | 396,289 | ||
Guarantee Deposits (Margin Accounts) [Member] | Not later than one month [member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | ||||
Guarantee Deposits (Margin Accounts) [Member] | Later than one month and not later than three months [member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | ||||
Guarantee Deposits (Margin Accounts) [Member] | More than 3 months to 1 year [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | ||||
Guarantee Deposits (Margin Accounts) [Member] | Due within 1 year [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | 323,767 | 396,289 | ||
Guarantee Deposits (Margin Accounts) [Member] | Later than one year and not later than three years [member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | ||||
Guarantee Deposits (Margin Accounts) [Member] | Later than three years and not later than five years [member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | ||||
Guarantee Deposits (Margin Accounts) [Member] | Due after 5 years [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | ||||
Guarantee Deposits (Margin Accounts) [Member] | More than 1 Year [Member] | ||||
Disclosure of financial assets [line items] | ||||
Total financial assets | ||||
[1] | Interbank loans are presented on a gross basis. The amount of allowance is Ch$472 million. | |||
[2] | Interbank loans are presented on a gross basis. The amount of allowance is Ch$4,135 million. | |||
[3] | Loans and accounts receivables from customers are presented on a gross basis. Provisions amounts according to type of loan are detailed as follows: Commercial loans Ch$ 437,863 million, Mortgage loans Ch$ 69,066 million, and Consumer loans Ch$ 283,756 million. | |||
[4] | Loans and accounts receivables from customers are presented on a gross basis. Provisions amounts according to type of loan are detailed as follows: Commercial loans Ch$ 429,442 million, Mortgage loans Ch$ 57,009 million, and Consumer loans Ch$ 300,019 million. |
PROVISIONS (Details)
PROVISIONS (Details) - CLP ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Provisions [abstract] | |||
Provisions for personnel salaries and expenses | $ 97,576 | $ 72,592 | |
Provisions for mandatory dividends | 168,840 | 142,815 | |
Provisions for contingent loan risk | 10,079 | 11,399 | |
Provisions for contingencies associated with administrative claims and leasing contracts | 27,303 | 65,404 | |
Total | $ 303,798 | $ 292,210 | $ 274,998 |
PROVISIONS (Details 1)
PROVISIONS (Details 1) - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of other provisions [line items] | ||
Balance at beginning | $ 292,210 | $ 274,998 |
Provisions established | 291,513 | 318,394 |
Application of provisions | (224,907) | (207,241) |
Provisions released | (55,018) | (93,941) |
Reclassifications | ||
Other | ||
Balance at end | 303,798 | 292,210 |
Personnel salaries and expenses [Member] | ||
Disclosure of other provisions [line items] | ||
Balance at beginning | 72,592 | 64,861 |
Provisions established | 106,687 | 80,298 |
Application of provisions | (81,703) | (72,567) |
Provisions released | ||
Reclassifications | ||
Other | ||
Balance at end | 97,576 | 72,592 |
Mandatory dividends [Member] | ||
Disclosure of other provisions [line items] | ||
Balance at beginning | 142,815 | 134,539 |
Provisions established | 168,840 | 142,815 |
Application of provisions | (142,815) | (134,539) |
Provisions released | ||
Reclassifications | ||
Other | ||
Balance at end | 168,840 | 142,815 |
Contingent loans [Member] | ||
Disclosure of other provisions [line items] | ||
Balance at beginning | 11,399 | 10,750 |
Provisions established | 7,341 | 9,789 |
Application of provisions | ||
Provisions released | (8,661) | (9,140) |
Reclassifications | ||
Other | ||
Balance at end | 10,079 | 11,399 |
Contingencies [Member] | ||
Disclosure of other provisions [line items] | ||
Balance at beginning | 65,404 | 64,848 |
Provisions established | 8,645 | 85,492 |
Application of provisions | (389) | (135) |
Provisions released | (46,357) | (84,801) |
Reclassifications | ||
Other | ||
Balance at end | $ 27,303 | $ 65,404 |
PROVISIONS (Details 2)
PROVISIONS (Details 2) - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Provisions [abstract] | ||
Provision for seniority compensation | $ 17,874 | $ 10,376 |
Provision for stock-based personnel benefits | ||
Provision for performance bonds | 53,947 | 38,510 |
Provision for vacations | 23,039 | 21,800 |
Provision for other personnel benefits | 2,716 | 1,906 |
Total | $ 97,576 | $ 72,592 |
OTHER LIABILITIES (Details)
OTHER LIABILITIES (Details) - CLP ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 | |
Other Liabilities | |||
Accounts and notes payable | $ 196,965 | $ 154,159 | |
Unearned income | 601 | 509 | |
Guarantees received (margin accounts) | [1] | 408,313 | 480,926 |
Notes payable through brokerage and simultaneous transactions | 17,799 | 27,745 | |
Other payable obligations | [2] | 58,921 | 80,100 |
Withheld VAT | 1,887 | 1,964 | |
Other liabilities | [3] | 60,877 | 50,382 |
Total | $ 745,363 | $ 795,785 | |
[1] | Guarantee deposits (margin accounts) correspond to collateral associated to derivative financial contracts to mitigate the counterparty credit risk and are mainly established in cash. These guarantees operate when mark to market of derivative financial instruments exceed the levels of threshold agreed in the contracts, which could result in the Bank delivering or receiving collateral. | ||
[2] | Other payable obligations mainly relates to settlement of derivatives and other financial transactions derived from the operation of the Bank. | ||
[3] | Other liabilities: mainly include reimbursement of insurance commissions. |
CONTINGENCIES AND COMMITMENT165
CONTINGENCIES AND COMMITMENTS (Details) - Contingent Loans [Member] - CLP ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of contingent liabilities in business combination [line items] | ||
Letters of credit issued | $ 201,699 | $ 158,800 |
Foreign letters of credit confirmed | 75,499 | 57,686 |
Guarantees | 1,823,793 | 1,752,610 |
Personal guarantees | 81,577 | 125,050 |
Subtotal | 2,182,568 | 2,094,146 |
Available on demand credit lines | 8,135,489 | 7,548,820 |
Other irrevocable credit commitments | 260,691 | 260,266 |
Total | $ 10,578,748 | $ 9,903,232 |
CONTINGENCIES AND COMMITMENT166
CONTINGENCIES AND COMMITMENTS (Details 1) - Held Securities [Member] - CLP ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Third party operations | ||
Collections | $ 175,200 | $ 163,303 |
Assets from third parties managed by the Bank and its affiliates | 1,660,804 | 1,586,405 |
Subtotal | 1,836,004 | 1,749,708 |
Custody of securities | ||
Securities held in custody | 383,002 | 390,155 |
Securities held in custody deposited in other entity | 760,083 | 687,610 |
Issued securities held in custody | 22,046,701 | 18,768,572 |
Subtotal | 23,189,786 | 19,846,337 |
Total | $ 25,025,790 | $ 21,596,045 |
CONTINGENCIES AND COMMITMENT167
CONTINGENCIES AND COMMITMENTS (Details Narrative) $ in Millions, $ in Millions | Dec. 31, 2017CLP ($) | Dec. 31, 2016CLP ($) | Dec. 31, 2016USD ($) |
Disclosure of contingent liabilities in business combination [line items] | |||
Assets from third parties managed by the Bank and its affiliates | $ 1,660,768 | $ 1,586,370 | |
Legal proceedings contingent liability [member] | |||
Disclosure of contingent liabilities in business combination [line items] | |||
Estimated financial effect of contingent liabilities | 1,214,200 | 1,194,000 | |
Legal proceedings contingent liability [member] | Subsidiaries [Member] | |||
Disclosure of contingent liabilities in business combination [line items] | |||
Estimated financial effect of contingent liabilities | $ 0 | $ 48,000 | |
Contingent liability for guarantees [member] | USD | |||
Disclosure of contingent liabilities in business combination [line items] | |||
Insurance policy cover amount for bank and subsidiaries | $ 50,000 |
EQUITY (Details)
EQUITY (Details) - shares | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
EQUITY | |||
Issued as of beginning of period | 188,446,126,794 | 188,446,126,794 | 188,446,126,794 |
Issuance of paid shares | |||
Issuance of outstanding shares | |||
Issued as of end of period | 188,446,126,794 | 188,446,126,794 | 188,446,126,794 |
EQUITY (Details 1)
EQUITY (Details 1) - shares | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | ||
Disclosure of transactions between related parties [line items] | ||||||
Shares | 157,207,260,723 | 153,645,193,123 | 155,930,063,123 | |||
American Depository Receipts (ADR) | [1],[2] | 31,238,866,071 | 34,800,933,671 | 32,516,063,671 | ||
Total | 188,446,126,794 | 188,446,126,794 | 188,446,126,794 | 188,446,126,794 | ||
Percentage of equity holding | 100.00% | 100.00% | 100.00% | |||
Santander Chile Holding S.A. [Member] | ||||||
Disclosure of transactions between related parties [line items] | ||||||
Shares | 66,822,519,695 | 66,822,519,695 | 66,822,519,695 | |||
American Depository Receipts (ADR) | [2] | |||||
Total | 66,822,519,695 | 66,822,519,695 | 66,822,519,695 | |||
Percentage of equity holding | 35.46% | 35.46% | 35.46% | |||
Teatinos Siglo XXI Inversiones Limitada [Member] | ||||||
Disclosure of transactions between related parties [line items] | ||||||
Shares | 59,770,481,573 | 59,770,481,573 | 59,770,481,573 | |||
American Depository Receipts (ADR) | [2] | |||||
Total | 59,770,481,573 | 59,770,481,573 | 59,770,481,573 | |||
Percentage of equity holding | 31.72% | 31.72% | 31.72% | |||
The Bank New York Mellon [Member] | ||||||
Disclosure of transactions between related parties [line items] | ||||||
Shares | [2] | |||||
American Depository Receipts (ADR) | [1],[2] | 31,238,866,071 | 34,800,933,671 | 32,516,063,671 | ||
Total | 31,238,866,071 | 34,800,933,671 | 32,516,063,671 | [2] | ||
Percentage of equity holding | 16.65% | 18.47% | 17.25% | [2] | ||
Banks on behalf of third parties [Member] | ||||||
Disclosure of transactions between related parties [line items] | ||||||
Shares | 13,892,691,988 | 12,257,100,312 | 11,878,070,560 | |||
American Depository Receipts (ADR) | [2] | |||||
Total | 13,892,691,988 | 12,257,100,312 | 11,878,070,560 | |||
Percentage of equity holding | 7.37% | 6.50% | 6.30% | |||
Pension funds (AFP) on behalf of third parties [Member] | ||||||
Disclosure of transactions between related parties [line items] | ||||||
Shares | 6,896,552,755 | 6,990,857,997 | 8,887,560,424 | |||
American Depository Receipts (ADR) | [2] | |||||
Total | 6,896,552,755 | 6,990,857,997 | 8,887,560,424 | |||
Percentage of equity holding | 3.66% | 3.71% | 4.72% | |||
Stock brokers on behalf of third parties [Member] | ||||||
Disclosure of transactions between related parties [line items] | ||||||
Shares | 3,762,310,365 | 3,071,882,351 | 3,460,285,074 | |||
American Depository Receipts (ADR) | [2] | |||||
Total | 3,762,310,365 | 3,071,882,351 | 3,460,285,074 | |||
Percentage of equity holding | 2.00% | 1.63% | 1.84% | |||
Other minority holders [Member] | ||||||
Disclosure of transactions between related parties [line items] | ||||||
Shares | 6,062,704,347 | 4,732,351,195 | 5,111,145,797 | |||
American Depository Receipts (ADR) | [2] | |||||
Total | 6,062,704,347 | 4,732,351,195 | 5,111,145,797 | |||
Percentage of equity holding | 3.21% | 2.51% | 2.71% | |||
[1] | American Depository Receipts (ADR) are certificates issued by a U.S. commercial bank to be traded on the U.S. securities markets. | |||||
[2] | As of August 4, 2015, Banco Santander Chile signed a contract which appoints The Bank of New York Mellon as the commercial bank authorized to trade ADRs, replacing J.P.Morgan Chase Bank NA. |
EQUITY (Details 2)
EQUITY (Details 2) - CLP ($) $ / shares in Units, $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Basic earnings per share | |||
Total attributable to the equity holders of the Bank | $ 562,801 | $ 476,067 | $ 448,466 |
Weighted average number of outstanding shares | 188,446,126,794 | 188,446,126,794 | 188,446,126,794 |
Basic earnings per share (in Ch$) | $ 2,987 | $ 2,526 | $ 2,380 |
Diluted earnings per share | |||
Total attributable to the equity holders of the Bank | $ 562,801 | $ 476,067 | $ 448,466 |
Weighted average number of outstanding shares | 188,446,126,794 | 188,446,126,794 | 188,446,126,794 |
Adjusted number of shares | 188,446,126,794 | 188,446,126,794 | 188,446,126,794 |
Diluted earnings per share (in Ch$) | $ 2,987 | $ 2,526 | $ 2,380 |
EQUITY (Details 3)
EQUITY (Details 3) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Available for sale investments | |||
As of beginning of period | $ 7,375 | $ (7,093) | $ 21,684 |
Gain (losses) on the re-measurement of available for sale investments, before tax | (10,384) | 2,267 | (51,178) |
Recycling adjustments on cash flow hedges, before tax | 4,864 | 12,201 | 22,401 |
Subtotals | (5,520) | 14,468 | (28,777) |
As of end of period | 1,855 | 7,375 | (7,093) |
Cash flow hedges | |||
As of beginning of period | 2,288 | 8,626 | 10,725 |
Gains (losses) on the re-measurement of cash flow hedges, before tax | (5,850) | (6,261) | (2,105) |
Recycling adjustments on cash flow hedges, before tax | (77) | 6 | |
Amounts removed from equity and included in carrying amount of non-financial asset (liability) which acquisition or incurrence was hedged as a highly probable transaction | |||
Subtotals | (5,850) | (6,338) | (2,099) |
As of end of period | (3,562) | 2,288 | 8,626 |
Other comprehensive income, before taxes | (1,707) | 9,663 | 1,533 |
Income tax related to other comprehensive income components | |||
Income tax relating to available for sale investments | (473) | (1,770) | 1,596 |
Income tax relating to cash flow hedges | 908 | (549) | (1,940) |
Total | 435 | (2,319) | (344) |
Other comprehensive income, net of tax | (1,272) | 7,344 | 1,189 |
Attributable to: | |||
Equity holders of the Bank | (2,312) | 6,640 | 1,288 |
Non-controlling interest | $ 1,040 | $ 704 | $ (99) |
EQUITY (Details Narrative)
EQUITY (Details Narrative) - CLP ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2017 | Apr. 30, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
EQUITY | |||||
Shares outstanding | 188,446,126,794 | 188,446,126,794 | 188,446,126,794 | 188,446,126,794 | |
Increase in capital | $ 891,303 | ||||
Percentage of capitalization earnings | 30.00% | ||||
Retained earnings to reserves | $ 141,706 | $ 112,219 |
NON-CONTROLLING INTEREST (Detai
NON-CONTROLLING INTEREST (Details) - CLP ($) $ in Millions | 12 Months Ended | |||||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||||
Disclosure of subsidiaries [line items] | ||||||
Equity | $ 41,883 | $ 29,341 | $ 30,181 | |||
Income | 12,448 | 2,365 | 3,263 | |||
Other comprehensive income | ||||||
Available for sale investments | 470 | 1,054 | (132) | |||
Deferred tax | (134) | (251) | 30 | |||
Total other comprehensive income | 336 | 803 | (102) | |||
Comprehensive income | $ 12,784 | $ 3,168 | $ 3,161 | |||
Santander Agente de Valores Limitada [Member] | ||||||
Disclosure of subsidiaries [line items] | ||||||
Non-controlling | 0.97% | 0.97% | 0.97% | |||
Equity | $ 389 | $ 492 | $ 652 | |||
Income | 132 | 116 | 98 | |||
Other comprehensive income | ||||||
Available for sale investments | (4) | |||||
Deferred tax | 1 | |||||
Total other comprehensive income | (3) | |||||
Comprehensive income | $ 132 | $ 116 | $ 95 | |||
Santander S.A. Sociedad Securitizadora [Member] | ||||||
Disclosure of subsidiaries [line items] | ||||||
Non-controlling | 0.36% | 0.36% | 0.36% | |||
Equity | $ 1 | $ 2 | $ 2 | |||
Income | ||||||
Other comprehensive income | ||||||
Available for sale investments | ||||||
Deferred tax | ||||||
Total other comprehensive income | ||||||
Comprehensive income | ||||||
Santander Corredores de Bolsa Limitada [Member] | ||||||
Disclosure of subsidiaries [line items] | ||||||
Non-controlling | 49.00% | 49.41% | [1] | 49.41% | ||
Equity | $ 21,000 | $ 19,966 | [1] | $ 21,765 | ||
Income | 702 | 1,130 | [1] | 816 | ||
Other comprehensive income | ||||||
Available for sale investments | 470 | 1,054 | [1] | (128) | ||
Deferred tax | (134) | (251) | [1] | 29 | ||
Total other comprehensive income | 336 | 803 | [1] | (99) | ||
Comprehensive income | $ 1,038 | $ 1,933 | [1] | $ 717 | ||
Santander Corredora de Seguros Limitada [Member] | ||||||
Disclosure of subsidiaries [line items] | ||||||
Non-controlling | 0.25% | 0.25% | 0.25% | |||
Equity | $ 167 | $ 164 | $ 156 | |||
Income | 4 | 7 | (5) | |||
Other comprehensive income | ||||||
Available for sale investments | ||||||
Deferred tax | ||||||
Total other comprehensive income | ||||||
Comprehensive income | 4 | 7 | (5) | |||
Subsidiaries [Member] | ||||||
Disclosure of subsidiaries [line items] | ||||||
Equity | 21,557 | 20,624 | 22,575 | |||
Income | 838 | 1,253 | 909 | |||
Other comprehensive income | ||||||
Available for sale investments | 470 | 1,054 | (132) | |||
Deferred tax | (134) | (251) | 30 | |||
Total other comprehensive income | 336 | 803 | (102) | |||
Comprehensive income | $ 1,174 | $ 2,056 | $ 807 | |||
Bansa Santander S.A. [Member] | ||||||
Disclosure of subsidiaries [line items] | ||||||
Non-controlling | 100.00% | [2] | 100.00% | 100.00% | ||
Equity | $ 17,401 | [2] | $ 6,533 | $ 6,004 | ||
Income | 10,869 | [2] | 529 | 334 | ||
Other comprehensive income | ||||||
Available for sale investments | [2] | |||||
Deferred tax | [2] | |||||
Total other comprehensive income | [2] | |||||
Comprehensive income | $ 10,869 | [2] | $ 529 | $ 334 | ||
Santander Gestion de Recaudacion y Cobranzas Limitada [Member] | ||||||
Disclosure of subsidiaries [line items] | ||||||
Non-controlling | 100.00% | 100.00% | 100.00% | [3] | ||
Equity | $ 2,925 | $ 2,184 | $ 1,602 | [3] | ||
Income | 741 | 583 | 564 | [3] | ||
Other comprehensive income | ||||||
Available for sale investments | [3] | |||||
Deferred tax | [3] | |||||
Total other comprehensive income | [3] | |||||
Comprehensive income | $ 741 | $ 583 | $ 564 | [3] | ||
Multinegocios S.A. [Member] | ||||||
Disclosure of subsidiaries [line items] | ||||||
Non-controlling | 100.00% | |||||
Equity | ||||||
Income | 310 | |||||
Other comprehensive income | ||||||
Available for sale investments | ||||||
Deferred tax | ||||||
Total other comprehensive income | ||||||
Comprehensive income | $ 310 | |||||
Servicios Administrativos y Financieros Limitada. [Member] | ||||||
Disclosure of subsidiaries [line items] | ||||||
Non-controlling | 100.00% | |||||
Equity | ||||||
Income | 550 | |||||
Other comprehensive income | ||||||
Available for sale investments | ||||||
Deferred tax | ||||||
Total other comprehensive income | ||||||
Comprehensive income | $ 550 | |||||
Multiservicios de Negocios Limitada. [Member] | ||||||
Disclosure of subsidiaries [line items] | ||||||
Non-controlling | 100.00% | |||||
Equity | ||||||
Income | 596 | |||||
Other comprehensive income | ||||||
Available for sale investments | ||||||
Deferred tax | ||||||
Total other comprehensive income | ||||||
Comprehensive income | 596 | |||||
Total Entities Controlled Through Other Considerations [Member] | ||||||
Disclosure of subsidiaries [line items] | ||||||
Equity | 20,326 | 8,717 | 7,606 | |||
Income | 11,610 | 1,112 | 2,354 | |||
Other comprehensive income | ||||||
Available for sale investments | ||||||
Deferred tax | ||||||
Total other comprehensive income | ||||||
Comprehensive income | $ 11,610 | $ 1,112 | $ 2,354 | |||
Servicios de Cobranzas Fiscalex Limitada [Member] | ||||||
Disclosure of subsidiaries [line items] | ||||||
Non-controlling | ||||||
Equity | ||||||
Income | ||||||
Other comprehensive income | ||||||
Available for sale investments | ||||||
Deferred tax | ||||||
Total other comprehensive income | ||||||
Comprehensive income | ||||||
[1] | Ex Santander S.A. Corredores de Bolsa, See Note 1. | |||||
[2] | In September 2017, Bansa Santander S.A. celebrated a legal cession of rights,which generated an income of Ch$20,663 million before tax (Ch$15,197 million net of taxes) | |||||
[3] | As of June 30, 2015, these entities have finished sales services to the Bank and therefore they have been excluded from the consolidation perimeter. |
NON-CONTROLLING INTEREST (De174
NON-CONTROLLING INTEREST (Details 1) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of subsidiaries [line items] | |||
Assets | $ 246,559 | $ 256,316 | $ 313,674 |
Liabilities | 76,475 | 90,663 | 131,672 |
Capital | 142,079 | 147,601 | 168,206 |
Net income | 28,005 | 18,052 | 13,796 |
Santander Corredora de Seguros Limitada [Member] | |||
Disclosure of subsidiaries [line items] | |||
Assets | 76,177 | 75,000 | 72,860 |
Liabilities | 9,803 | 10,065 | 10,588 |
Capital | 64,937 | 62,276 | 60,765 |
Net income | 1,437 | 2,659 | 1,507 |
Santander Corredores de Bolsa Limitada [Member] | |||
Disclosure of subsidiaries [line items] | |||
Assets | 88,711 | 86,473 | 71,118 |
Liabilities | 45,855 | 45,724 | 26,763 |
Capital | 41,424 | 38,356 | 42,618 |
Net income | 1,432 | 2,393 | 1,737 |
Santander Agente de Valores Limitada [Member] | |||
Disclosure of subsidiaries [line items] | |||
Assets | 44,910 | 54,486 | 131,305 |
Liabilities | 4,732 | 3,666 | 64,049 |
Capital | 26,569 | 38,851 | 57,554 |
Net income | 13,609 | 11,969 | 9,702 |
Santander S.A. Sociedad Securitizadora [Member] | |||
Disclosure of subsidiaries [line items] | |||
Assets | 400 | 509 | 566 |
Liabilities | 50 | 77 | 53 |
Capital | 432 | 512 | 561 |
Net income | (82) | (80) | (48) |
Santander Gestion de Recaudacion y Cobranzas Limitada [Member] | |||
Disclosure of subsidiaries [line items] | |||
Assets | 10,826 | 8,547 | 6,194 |
Liabilities | 7,901 | 6,363 | 4,592 |
Capital | 2,184 | 1,602 | 1,038 |
Net income | 741 | 582 | 564 |
Bansa Santander S.A. [Member] | |||
Disclosure of subsidiaries [line items] | |||
Assets | 25,535 | 31,301 | 31,631 |
Liabilities | 8,134 | 24,768 | 25,627 |
Capital | 6,533 | 6,004 | 5,670 |
Net income | $ 10,868 | $ 529 | $ 334 |
INTEREST INCOME (Details)
INTEREST INCOME (Details) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of financial assets [line items] | |||
Interest income not including income from hedge accounting | $ 2,031,133 | $ 2,123,422 | $ 2,112,800 |
Hedged Of Interest [Member] | |||
Disclosure of financial assets [line items] | |||
Interest income not including income from hedge accounting | 1,773,066 | 1,739,427 | 1,605,355 |
Hedged Of Inflation Adjustments [Member] | |||
Disclosure of financial assets [line items] | |||
Interest income not including income from hedge accounting | 242,390 | 365,006 | 472,054 |
Hedged Of Prepaid Fees [Member] | |||
Disclosure of financial assets [line items] | |||
Interest income not including income from hedge accounting | 15,677 | 18,989 | 35,391 |
Resale Agreements [Member] | |||
Disclosure of financial assets [line items] | |||
Interest income not including income from hedge accounting | 939 | 1,488 | 1,075 |
Resale Agreements [Member] | Hedged Of Interest [Member] | |||
Disclosure of financial assets [line items] | |||
Interest income not including income from hedge accounting | 939 | 1,488 | 1,075 |
Resale Agreements [Member] | Hedged Of Inflation Adjustments [Member] | |||
Disclosure of financial assets [line items] | |||
Interest income not including income from hedge accounting | |||
Resale Agreements [Member] | Hedged Of Prepaid Fees [Member] | |||
Disclosure of financial assets [line items] | |||
Interest income not including income from hedge accounting | |||
Interbank Loan [Member] | |||
Disclosure of financial assets [line items] | |||
Interest income not including income from hedge accounting | 969 | 295 | 375 |
Interbank Loan [Member] | Hedged Of Interest [Member] | |||
Disclosure of financial assets [line items] | |||
Interest income not including income from hedge accounting | 969 | 295 | 375 |
Interbank Loan [Member] | Hedged Of Inflation Adjustments [Member] | |||
Disclosure of financial assets [line items] | |||
Interest income not including income from hedge accounting | |||
Interbank Loan [Member] | Hedged Of Prepaid Fees [Member] | |||
Disclosure of financial assets [line items] | |||
Interest income not including income from hedge accounting | |||
Commercial loans [Member] | |||
Disclosure of financial assets [line items] | |||
Interest income not including income from hedge accounting | 847,927 | 880,995 | 864,710 |
Commercial loans [Member] | Hedged Of Interest [Member] | |||
Disclosure of financial assets [line items] | |||
Interest income not including income from hedge accounting | 752,013 | 742,432 | 687,464 |
Commercial loans [Member] | Hedged Of Inflation Adjustments [Member] | |||
Disclosure of financial assets [line items] | |||
Interest income not including income from hedge accounting | 85,398 | 130,904 | 168,752 |
Commercial loans [Member] | Hedged Of Prepaid Fees [Member] | |||
Disclosure of financial assets [line items] | |||
Interest income not including income from hedge accounting | 10,525 | 7,659 | 8,494 |
Mortgage loans [Member] | |||
Disclosure of financial assets [line items] | |||
Interest income not including income from hedge accounting | 469,758 | 539,209 | 569,569 |
Mortgage loans [Member] | Hedged Of Interest [Member] | |||
Disclosure of financial assets [line items] | |||
Interest income not including income from hedge accounting | 320,041 | 304,116 | 259,941 |
Mortgage loans [Member] | Hedged Of Inflation Adjustments [Member] | |||
Disclosure of financial assets [line items] | |||
Interest income not including income from hedge accounting | 149,303 | 228,081 | 286,437 |
Mortgage loans [Member] | Hedged Of Prepaid Fees [Member] | |||
Disclosure of financial assets [line items] | |||
Interest income not including income from hedge accounting | 414 | 7,012 | 23,191 |
Consumer Loans [Member] | |||
Disclosure of financial assets [line items] | |||
Interest income not including income from hedge accounting | 618,033 | 609,130 | 593,509 |
Consumer Loans [Member] | Hedged Of Interest [Member] | |||
Disclosure of financial assets [line items] | |||
Interest income not including income from hedge accounting | 612,932 | 604,152 | 586,385 |
Consumer Loans [Member] | Hedged Of Inflation Adjustments [Member] | |||
Disclosure of financial assets [line items] | |||
Interest income not including income from hedge accounting | 363 | 660 | 3,418 |
Consumer Loans [Member] | Hedged Of Prepaid Fees [Member] | |||
Disclosure of financial assets [line items] | |||
Interest income not including income from hedge accounting | 4,738 | 4,318 | 3,706 |
Investment Instruments [Member] | |||
Disclosure of financial assets [line items] | |||
Interest income not including income from hedge accounting | 79,797 | 78,724 | 67,620 |
Investment Instruments [Member] | Hedged Of Interest [Member] | |||
Disclosure of financial assets [line items] | |||
Interest income not including income from hedge accounting | 74,000 | 75,808 | 60,004 |
Investment Instruments [Member] | Hedged Of Inflation Adjustments [Member] | |||
Disclosure of financial assets [line items] | |||
Interest income not including income from hedge accounting | 5,797 | 2,916 | 7,616 |
Investment Instruments [Member] | Hedged Of Prepaid Fees [Member] | |||
Disclosure of financial assets [line items] | |||
Interest income not including income from hedge accounting | |||
Other Interest Income [Member] | |||
Disclosure of financial assets [line items] | |||
Interest income not including income from hedge accounting | 13,710 | 13,581 | 15,942 |
Other Interest Income [Member] | Hedged Of Interest [Member] | |||
Disclosure of financial assets [line items] | |||
Interest income not including income from hedge accounting | 12,172 | 11,136 | 10,111 |
Other Interest Income [Member] | Hedged Of Inflation Adjustments [Member] | |||
Disclosure of financial assets [line items] | |||
Interest income not including income from hedge accounting | 1,538 | 2,445 | 5,831 |
Other Interest Income [Member] | Hedged Of Prepaid Fees [Member] | |||
Disclosure of financial assets [line items] | |||
Interest income not including income from hedge accounting |
INTEREST INCOME (Details 1)
INTEREST INCOME (Details 1) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of financial assets [line items] | |||
Interest expense not including expenses from hedge accounting | $ (719,850) | $ (799,636) | $ (749,727) |
Hedged Of Interest [Member] | |||
Disclosure of financial assets [line items] | |||
Interest expense not including expenses from hedge accounting | (617,200) | (644,540) | (572,027) |
Hedged Of Inflation Adjustments [Member] | |||
Disclosure of financial assets [line items] | |||
Interest expense not including expenses from hedge accounting | (102,650) | (155,096) | (177,700) |
Demand Deposits [Member] | |||
Disclosure of financial assets [line items] | |||
Interest expense not including expenses from hedge accounting | (14,546) | (17,046) | (15,218) |
Demand Deposits [Member] | Hedged Of Interest [Member] | |||
Disclosure of financial assets [line items] | |||
Interest expense not including expenses from hedge accounting | (13,851) | (16,003) | (13,875) |
Demand Deposits [Member] | Hedged Of Inflation Adjustments [Member] | |||
Disclosure of financial assets [line items] | |||
Interest expense not including expenses from hedge accounting | (695) | 1,043 | (1,343) |
Repurchase Agreements [Member] | |||
Disclosure of financial assets [line items] | |||
Interest expense not including expenses from hedge accounting | (6,514) | (2,822) | (6,893) |
Repurchase Agreements [Member] | Hedged Of Interest [Member] | |||
Disclosure of financial assets [line items] | |||
Interest expense not including expenses from hedge accounting | (6,514) | (2,822) | (6,893) |
Repurchase Agreements [Member] | Hedged Of Inflation Adjustments [Member] | |||
Disclosure of financial assets [line items] | |||
Interest expense not including expenses from hedge accounting | |||
Time Deposits And Liabilities [Member] | |||
Disclosure of financial assets [line items] | |||
Interest expense not including expenses from hedge accounting | (362,330) | (438,666) | (393,544) |
Time Deposits And Liabilities [Member] | Hedged Of Interest [Member] | |||
Disclosure of financial assets [line items] | |||
Interest expense not including expenses from hedge accounting | (341,821) | (399,720) | (346,174) |
Time Deposits And Liabilities [Member] | Hedged Of Inflation Adjustments [Member] | |||
Disclosure of financial assets [line items] | |||
Interest expense not including expenses from hedge accounting | (20,509) | (38,946) | (47,370) |
Interbank Loan [Member] | |||
Disclosure of financial assets [line items] | |||
Interest expense not including expenses from hedge accounting | (26,805) | (19,803) | (15,000) |
Interbank Loan [Member] | Hedged Of Interest [Member] | |||
Disclosure of financial assets [line items] | |||
Interest expense not including expenses from hedge accounting | (26,805) | (19,803) | (14,998) |
Interbank Loan [Member] | Hedged Of Inflation Adjustments [Member] | |||
Disclosure of financial assets [line items] | |||
Interest expense not including expenses from hedge accounting | (2) | ||
Issued Debt Instruments [Member] | |||
Disclosure of financial assets [line items] | |||
Interest expense not including expenses from hedge accounting | (296,197) | (303,425) | (296,590) |
Issued Debt Instruments [Member] | Hedged Of Interest [Member] | |||
Disclosure of financial assets [line items] | |||
Interest expense not including expenses from hedge accounting | (220,027) | (197,973) | (183,561) |
Issued Debt Instruments [Member] | Hedged Of Inflation Adjustments [Member] | |||
Disclosure of financial assets [line items] | |||
Interest expense not including expenses from hedge accounting | (76,170) | (105,452) | (113,029) |
Other financial liabilities [Member] | |||
Disclosure of financial assets [line items] | |||
Interest expense not including expenses from hedge accounting | (3,249) | (3,789) | (4,250) |
Other financial liabilities [Member] | Hedged Of Interest [Member] | |||
Disclosure of financial assets [line items] | |||
Interest expense not including expenses from hedge accounting | (2,946) | (3,008) | (3,070) |
Other financial liabilities [Member] | Hedged Of Inflation Adjustments [Member] | |||
Disclosure of financial assets [line items] | |||
Interest expense not including expenses from hedge accounting | (303) | (781) | (1,180) |
Other Interest Expense [Member] | |||
Disclosure of financial assets [line items] | |||
Interest expense not including expenses from hedge accounting | (10,209) | (14,085) | (18,232) |
Other Interest Expense [Member] | Hedged Of Interest [Member] | |||
Disclosure of financial assets [line items] | |||
Interest expense not including expenses from hedge accounting | (5,236) | (5,211) | (3,456) |
Other Interest Expense [Member] | Hedged Of Inflation Adjustments [Member] | |||
Disclosure of financial assets [line items] | |||
Interest expense not including expenses from hedge accounting | $ (4,973) | $ (8,874) | $ (14,776) |
INTEREST INCOME (Details 2)
INTEREST INCOME (Details 2) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Interest Income | |||
Interest income not including income from hedge accounting | $ 2,031,133 | $ 2,123,422 | $ 2,112,800 |
Interest expense not including expense from hedge accounting | (719,850) | (799,636) | (749,727) |
Net Interest income (expense) from hedge accounting | 1,311,283 | 1,323,786 | 1,363,073 |
Hedge accounting (net) | 15,408 | (42,420) | (107,867) |
Total net interest income | $ 1,326,691 | $ 1,281,366 | $ 1,255,206 |
FEES AND COMMISSIONS (Details)
FEES AND COMMISSIONS (Details) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Fee and commission income | |||
Fees and commissions for lines of credits and overdrafts | $ 7,413 | $ 5,754 | $ 6,597 |
Fees and commissions for guarantees and letters of credit | 33,882 | 35,911 | 35,276 |
Fees and commissions for card services | 201,791 | 195,566 | 175,262 |
Fees and commissions for management of accounts | 31,901 | 31,540 | 30,291 |
Fees and commissions for collections and payments | 44,312 | 31,376 | 30,399 |
Fees and commissions for intermediation and management of securities | 10,090 | 9,304 | 10,000 |
Insurance brokerage fees | 36,430 | 40,882 | 39,252 |
Office banking | 15,669 | 14,145 | 15,224 |
Fees for other services rendered | 43,123 | 38,038 | 35,978 |
Other fees earned | 30,947 | 28,668 | 24,621 |
Total | 455,558 | 431,184 | 402,900 |
Fee and commission expense | |||
Compensation for card operation | (149,809) | (143,509) | (129,196) |
Fees and commissions for securities transactions | (858) | (946) | (1,315) |
Office banking | (15,283) | (14,671) | (15,320) |
Other fees | (10,545) | (17,634) | (19,442) |
Total | (176,495) | (176,760) | (165,273) |
Net fees and commissions income | $ 279,063 | $ 254,424 | $ 237,627 |
NET INCOME (EXPENSE) FROM FI179
NET INCOME (EXPENSE) FROM FINANCIAL OPERATIONS (Details) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Income (expense) from financial operations | |||
Trading derivatives | $ (18,974) | $ (395,209) | $ (503,981) |
Trading investments | 10,008 | 18,229 | 21,505 |
Sale of loans and accounts receivables from customers | |||
Current portfolio | 3,020 | 1,469 | 921 |
Charged-off portfolio | 3,020 | 2,720 | (58) |
Available for sale investments | 8,956 | 14,598 | 23,655 |
Repurchase of issued bonds | (742) | (8,630) | (14) |
Other income (expense) from financial operations | (2,492) | (211) | 75 |
Total income (expense) | $ 2,796 | $ (367,034) | $ (457,897) |
NET FOREIGN EXCHANGE GAIN (L180
NET FOREIGN EXCHANGE GAIN (LOSS) (Details) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Net foreign exchange gain (loss) | |||
Net profit (loss) from currency exchange differences | $ 113,115 | $ 116,117 | $ (197,875) |
Hedging derivatives | 22,933 | 399,875 | 777,254 |
Income from assets indexed to foreign currency | (9,190) | (8,745) | 25,421 |
Income from liabilities indexed to foreign currency | 98 | 145 | (1,404) |
Total | $ 126,956 | $ 507,392 | $ 603,396 |
PROVISIONS FOR LOAN LOSSES (Det
PROVISIONS FOR LOAN LOSSES (Details) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of financial assets [line items] | |||
Provisions released | $ 55,018 | $ 93,941 | |
Net charge offs of individually significant loans | 302,255 | 342,083 | $ 399,277 |
Provisions for Loan Losses [Member] | Individual Allowance [Member] | Commercial loans [Member] | |||
Disclosure of financial assets [line items] | |||
Net charge offs of individually significant loans | 15,699 | 11,222 | 12,955 |
Provisions for Loan Losses [Member] | Loans to Customers [Member] | |||
Disclosure of financial assets [line items] | |||
Charged-off individually significant loans | (15,699) | (11,222) | (12,955) |
Provisions established | (516,646) | (544,240) | (551,822) |
Total provisions and charge-offs | (532,345) | (555,462) | (564,777) |
Provisions released | 146,563 | 135,081 | 97,360 |
Recovery of loans previously charged off | 83,527 | 78,298 | 68,140 |
Net charge offs of individually significant loans | (302,255) | (342,083) | (399,277) |
Provisions for Loan Losses [Member] | Loans to Customers [Member] | Individual Allowance [Member] | Interbank Loan [Member] | |||
Disclosure of financial assets [line items] | |||
Charged-off individually significant loans | |||
Provisions established | (307) | (3,052) | (1,357) |
Total provisions and charge-offs | (307) | (3,052) | (1,357) |
Provisions released | 3,970 | 83 | 192 |
Recovery of loans previously charged off | |||
Net charge offs of individually significant loans | 3,663 | (2,969) | (1,165) |
Provisions for Loan Losses [Member] | Loans to Customers [Member] | Individual Allowance [Member] | Commercial loans [Member] | |||
Disclosure of financial assets [line items] | |||
Charged-off individually significant loans | (15,699) | (11,222) | (12,955) |
Provisions established | (64,658) | (61,002) | (124,968) |
Total provisions and charge-offs | (80,357) | (72,224) | (137,923) |
Provisions released | 55,925 | 43,183 | 46,614 |
Recovery of loans previously charged off | 11,114 | 11,142 | 8,978 |
Net charge offs of individually significant loans | (13,318) | (17,899) | (82,331) |
Provisions for Loan Losses [Member] | Loans to Customers [Member] | Individual Allowance [Member] | Contingent Loan [Member] | |||
Disclosure of financial assets [line items] | |||
Charged-off individually significant loans | |||
Provisions established | (3,117) | (11,986) | (2,808) |
Total provisions and charge-offs | (3,117) | (11,986) | (2,808) |
Provisions released | 7,001 | 6,963 | 5,042 |
Recovery of loans previously charged off | |||
Net charge offs of individually significant loans | 3,884 | (5,023) | 2,234 |
Provisions for Loan Losses [Member] | Loans to Customers [Member] | Group Allowance [Member] | Commercial loans [Member] | |||
Disclosure of financial assets [line items] | |||
Charged-off individually significant loans | |||
Provisions established | (148,681) | (133,855) | (136,778) |
Total provisions and charge-offs | (148,681) | (133,855) | (136,778) |
Provisions released | 20,491 | 14,432 | 17,885 |
Recovery of loans previously charged off | 21,499 | 16,043 | 17,054 |
Net charge offs of individually significant loans | (106,691) | (103,380) | (101,839) |
Provisions for Loan Losses [Member] | Loans to Customers [Member] | Group Allowance [Member] | Mortgage loans [Member] | |||
Disclosure of financial assets [line items] | |||
Charged-off individually significant loans | |||
Provisions established | (43,621) | (50,892) | (34,373) |
Total provisions and charge-offs | (43,621) | (50,892) | (34,373) |
Provisions released | 11,427 | 34,246 | 7,205 |
Recovery of loans previously charged off | 10,942 | 10,041 | 6,543 |
Net charge offs of individually significant loans | (21,252) | (6,605) | (20,625) |
Provisions for Loan Losses [Member] | Loans to Customers [Member] | Group Allowance [Member] | Consumer Loans [Member] | |||
Disclosure of financial assets [line items] | |||
Charged-off individually significant loans | |||
Provisions established | (252,038) | (280,544) | (248,937) |
Total provisions and charge-offs | (252,038) | (280,544) | (248,937) |
Provisions released | 46,089 | 30,790 | 18,126 |
Recovery of loans previously charged off | 39,972 | 41,072 | 35,565 |
Net charge offs of individually significant loans | (165,977) | (208,682) | (195,246) |
Provisions for Loan Losses [Member] | Loans to Customers [Member] | Group Allowance [Member] | Contingent Loan [Member] | |||
Disclosure of financial assets [line items] | |||
Charged-off individually significant loans | |||
Provisions established | (4,224) | (2,909) | (2,601) |
Total provisions and charge-offs | (4,224) | (2,909) | (2,601) |
Provisions released | 1,660 | 5,384 | 2,296 |
Recovery of loans previously charged off | |||
Net charge offs of individually significant loans | $ (2,564) | $ 2,475 | $ (305) |
PROVISIONS FOR LOAN LOSSES (182
PROVISIONS FOR LOAN LOSSES (Details 1) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosure of financial assets [line items] | |||
Net charge offs of individually significant loans | $ 302,255 | $ 342,083 | $ 399,277 |
Provisions for Loan Losses [Member] | Commercial loans [Member] | Individual Allowance [Member] | |||
Disclosure of financial assets [line items] | |||
Charge-off of loans | 51,978 | 47,605 | 50,656 |
Provision applied | (36,279) | (36,383) | (37,701) |
Net charge offs of individually significant loans | $ 15,699 | $ 11,222 | $ 12,955 |
PERSONNEL SALARIES AND EXPEN183
PERSONNEL SALARIES AND EXPENSES (Details) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Personnel Salaries And Expenses | |||
Personnel compensation | $ 250,962 | $ 249,703 | $ 233,707 |
Bonuses or gratifications | 75,181 | 77,649 | 78,260 |
Stock-based benefits | 2,752 | 331 | 66 |
Seniority compensation | 26,120 | 26,263 | 34,012 |
Pension plans | 2,039 | (150) | 431 |
Training expenses | 2,867 | 2,835 | 3,186 |
Day care and kindergarten | 2,505 | 3,072 | 2,992 |
Health funds | 4,748 | 4,777 | 4,474 |
Welfare funds | 896 | 806 | 754 |
Other personnel expenses | 28,897 | 29,847 | 29,181 |
Total | $ 396,967 | $ 395,133 | $ 387,063 |
ADMINISTRATIVE EXPENSES (Detail
ADMINISTRATIVE EXPENSES (Details) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
General administrative expenses | |||
Maintenance and repair of property, plant and equipment | $ 21,359 | $ 19,901 | $ 20,002 |
Office lease | 26,136 | 28,098 | 27,472 |
Equipment lease | 96 | 280 | 134 |
Insurance payments | 3,354 | 3,842 | 3,656 |
Office supplies | 6,862 | 5,747 | 6,232 |
IT and communication expenses | 39,103 | 37,351 | 28,420 |
Heating, and other utilities | 5,468 | 4,863 | 4,764 |
Security and valuables transport services | 12,181 | 14,793 | 15,393 |
Representation and personnel travel expenses | 4,262 | 5,440 | 4,590 |
Judicial and notarial expenses | 974 | 952 | 2,103 |
Fees for technical reports and auditing | 9,379 | 7,631 | 7,301 |
Other general administrative expenses | 10,244 | 10,076 | 7,759 |
General administrative expenses | 139,418 | 138,974 | 127,826 |
Outsourced services | |||
Data processing | 34,880 | 36,068 | 39,286 |
Products sale | 226 | ||
Archive services | 3,324 | 4,427 | 1,047 |
Valuation services | 2,419 | 3,489 | 2,969 |
Outsourcing | 6,878 | 5,404 | 7,275 |
Other | 9,899 | 6,369 | 10,110 |
Outsourced services | 57,400 | 55,757 | 60,913 |
Board expenses | 1,290 | 1,371 | 1,465 |
Marketing expenses | 18,877 | 17,844 | 18,483 |
Taxes, payroll taxes, and contributions | |||
Real estate taxes | 1,443 | 1,435 | 1,813 |
Patents | 1,646 | 1,618 | 1,589 |
Other taxes | 24 | 93 | 3 |
Contributions to SBIF | 10,005 | 9,321 | 8,439 |
Taxes, payroll taxes, and contributions | 13,118 | 12,467 | 11,844 |
Total | $ 230,103 | $ 226,413 | $ 220,531 |
DEPRECIATION, AMORTIZATION, 185
DEPRECIATION, AMORTIZATION, AND IMPAIRMENT (Details) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Depreciation and amortization | |||
Depreciation of property, plant, and equipment | $ (55,623) | $ (45,025) | $ (36,195) |
Amortization of Intangible assets | (22,200) | (20,334) | (17,419) |
Total depreciation and amortization | (77,823) | (65,359) | (53,614) |
Impairment of property, plant, and equipment | (354) | (234) | (21) |
Impairment of intangibles | (5,290) | ||
Total | $ (83,467) | $ (65,593) | $ (53,635) |
OTHER OPERATING INCOME AND E186
OTHER OPERATING INCOME AND EXPENSES (Details) - CLP ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Other Operating Income And Expenses | ||||
Income from assets received in lieu of payment | $ 3,330 | $ 1,663 | $ 2,455 | |
Income from sale of investments in other companies | 617 | |||
Release of contingencies provisions | [1] | 29,903 | ||
Other income | ||||
Leases | 264 | 519 | 708 | |
Income from sale of property, plant and equipment | [2] | 23,229 | 2,017 | 381 |
Recovery of provisions for contingencies | ||||
Compensation from insurance companies due to damages | 1,237 | 1,530 | 435 | |
Other | 4,053 | 698 | 1,843 | |
Subtotal | 28,783 | 4,764 | 3,367 | |
Total | $ 62,016 | $ 6,427 | $ 6,439 | |
[1] | In accordance with IAS 37, the Bank recorded contingencies provisions, which during 2017 were favorable to the Bank. | |||
[2] | Corresponds to legal cession of rights made by Bansa Santander S.A. which result in an income of Ch$20.663 million, as stated in Note N25. |
OTHER OPERATING INCOME AND E187
OTHER OPERATING INCOME AND EXPENSES (Details 1) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Allowances and expenses for assets received in lieu of payment | |||
Provision on assets received in lieu of payment | $ 3,912 | $ 9,246 | $ 7,803 |
Expenses for maintenance of assets received in lieu of payment | 1,679 | 2,170 | 2,397 |
Subtotal | 5,591 | 11,416 | 10,200 |
Credit card expenses | 3,070 | 3,636 | 4,624 |
Customer services | 2,563 | 3,734 | 3,919 |
Other expenses | |||
Operating charge-offs | 1,607 | 6,146 | 5,359 |
Life insurance and general product insurance policies | 23,475 | 18,393 | 11,225 |
Additional tax on expenses paid overseas | 142 | 2,651 | |
Provisions for contingencies | 4,238 | 15,230 | |
Retail association payment | 912 | ||
Other | 31,195 | 21,197 | 5,521 |
Subtotal | 57,189 | 50,116 | 39,986 |
Total | $ 68,413 | $ 68,902 | $ 58,729 |
TRANSACTIONS WITH RELATED PA188
TRANSACTIONS WITH RELATED PARTIES (Details) - CLP ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Loans and accounts receivable: | |||
Allowance for loan losses | $ 1,440 | $ 7,558 | |
Santander Group Companies [Member] | |||
Loans and accounts receivable: | |||
Loans and accounts receivable: | 80,076 | 81,687 | $ 77,388 |
Allowance for loan losses | (209) | (209) | (213) |
Net loans | 79,867 | 81,478 | 77,175 |
Guarantees | 361,452 | 434,141 | 499,803 |
Contingent loans: | |||
Contingent loans: | 396,829 | 464,369 | 539,584 |
Allowance for contingent loans | (4) | (5) | (11) |
Net contingent loans | 396,825 | 464,364 | 539,573 |
Santander Group Companies [Member] | Personal guarantees [Member] | |||
Contingent loans: | |||
Contingent loans: | |||
Santander Group Companies [Member] | Letters of credit [Member] | |||
Contingent loans: | |||
Contingent loans: | 19,251 | 27,268 | 29,275 |
Santander Group Companies [Member] | Guarantees [member] | |||
Contingent loans: | |||
Contingent loans: | 377,578 | 437,101 | 510,309 |
Associates [member] | |||
Loans and accounts receivable: | |||
Loans and accounts receivable: | 771 | 533 | 565 |
Allowance for loan losses | (9) | (35) | (190) |
Net loans | 762 | 498 | 375 |
Guarantees | |||
Contingent loans: | |||
Contingent loans: | |||
Allowance for contingent loans | |||
Net contingent loans | |||
Associates [member] | Personal guarantees [Member] | |||
Contingent loans: | |||
Contingent loans: | |||
Associates [member] | Letters of credit [Member] | |||
Contingent loans: | |||
Contingent loans: | |||
Associates [member] | Guarantees [member] | |||
Contingent loans: | |||
Contingent loans: | |||
Key management personnel of entity or parent [member] | |||
Loans and accounts receivable: | |||
Loans and accounts receivable: | 27,053 | 26,424 | 28,674 |
Allowance for loan losses | (177) | (87) | (62) |
Net loans | 26,876 | 26,337 | 28,612 |
Guarantees | 23,868 | 23,636 | 25,493 |
Contingent loans: | |||
Contingent loans: | |||
Allowance for contingent loans | |||
Net contingent loans | |||
Key management personnel of entity or parent [member] | Personal guarantees [Member] | |||
Contingent loans: | |||
Contingent loans: | |||
Key management personnel of entity or parent [member] | Letters of credit [Member] | |||
Contingent loans: | |||
Contingent loans: | |||
Key management personnel of entity or parent [member] | Guarantees [member] | |||
Contingent loans: | |||
Contingent loans: | |||
Other related parties [member] | |||
Loans and accounts receivable: | |||
Loans and accounts receivable: | 7,793 | 7,100 | 1,963 |
Allowance for loan losses | (18) | (34) | (20) |
Net loans | 7,775 | 7,066 | 1,943 |
Guarantees | 7,164 | 5,486 | 1,632 |
Contingent loans: | |||
Contingent loans: | 2 | ||
Allowance for contingent loans | 1 | ||
Net contingent loans | 34 | 2 | |
Other related parties [member] | Personal guarantees [Member] | |||
Contingent loans: | |||
Contingent loans: | |||
Other related parties [member] | Letters of credit [Member] | |||
Contingent loans: | |||
Contingent loans: | 33 | ||
Other related parties [member] | Guarantees [member] | |||
Contingent loans: | |||
Contingent loans: | 2 | ||
Commercial Loans [Member] | Santander Group Companies [Member] | |||
Loans and accounts receivable: | |||
Loans and accounts receivable: | 80,076 | 81,687 | 77,388 |
Commercial Loans [Member] | Associates [member] | |||
Loans and accounts receivable: | |||
Loans and accounts receivable: | 771 | 533 | 565 |
Commercial Loans [Member] | Key management personnel of entity or parent [member] | |||
Loans and accounts receivable: | |||
Loans and accounts receivable: | 3,947 | 4,595 | 5,841 |
Commercial Loans [Member] | Other related parties [member] | |||
Loans and accounts receivable: | |||
Loans and accounts receivable: | 7,793 | 7,100 | 1,963 |
Mortgage Loans [Member] | |||
Loans and accounts receivable: | |||
Allowance for loan losses | 69,066 | 57,009 | 62,427 |
Mortgage Loans [Member] | Santander Group Companies [Member] | |||
Loans and accounts receivable: | |||
Loans and accounts receivable: | |||
Mortgage Loans [Member] | Associates [member] | |||
Loans and accounts receivable: | |||
Loans and accounts receivable: | |||
Mortgage Loans [Member] | Key management personnel of entity or parent [member] | |||
Loans and accounts receivable: | |||
Loans and accounts receivable: | 18,796 | 18,046 | 20,559 |
Mortgage Loans [Member] | Other related parties [member] | |||
Loans and accounts receivable: | |||
Loans and accounts receivable: | |||
Consumer Loans [Member] | |||
Loans and accounts receivable: | |||
Allowance for loan losses | 283,756 | 300,019 | 267,507 |
Consumer Loans [Member] | Santander Group Companies [Member] | |||
Loans and accounts receivable: | |||
Loans and accounts receivable: | |||
Consumer Loans [Member] | Associates [member] | |||
Loans and accounts receivable: | |||
Loans and accounts receivable: | |||
Consumer Loans [Member] | Key management personnel of entity or parent [member] | |||
Loans and accounts receivable: | |||
Loans and accounts receivable: | 4,310 | 3,783 | 2,274 |
Consumer Loans [Member] | Other related parties [member] | |||
Loans and accounts receivable: | |||
Loans and accounts receivable: |
TRANSACTIONS WITH RELATED PA189
TRANSACTIONS WITH RELATED PARTIES (Details 1) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Santander Group Companies [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Opening balances | $ 546,058 | $ 616,968 | $ 500,449 |
Loans granted | 78,214 | 122,729 | 276,383 |
Loans payments | (147,366) | (193,189) | (159,864) |
Ending balances | 476,906 | 546,058 | 616,968 |
Associates [member] | |||
Disclosure of transactions between related parties [line items] | |||
Opening balances | 532 | 565 | 9,614 |
Loans granted | 318 | 203 | 7 |
Loans payments | (79) | (236) | (9,056) |
Ending balances | 771 | 532 | 565 |
Key management personnel of entity or parent [member] | |||
Disclosure of transactions between related parties [line items] | |||
Opening balances | 26,423 | 28,675 | 27,087 |
Loans granted | 7,777 | 8,580 | 8,991 |
Loans payments | (7,149) | (10,832) | (7,403) |
Ending balances | 27,051 | 26,423 | 28,675 |
Other related parties [member] | |||
Disclosure of transactions between related parties [line items] | |||
Opening balances | 7,100 | 1,966 | 9,516 |
Loans granted | 1,050 | 6,808 | 4,113 |
Loans payments | (324) | (1,674) | (11,663) |
Ending balances | $ 7,826 | $ 7,100 | $ 1,966 |
TRANSACTIONS WITH RELATED PA190
TRANSACTIONS WITH RELATED PARTIES (Details 2) - CLP ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Assets | |||
Cash and deposits in banks | $ 613,361 | $ 570,317 | |
Financial derivative contracts | 2,238,647 | 2,500,782 | |
Available for sale investments | 2,574,546 | 3,388,906 | |
Other assets | 764,410 | 847,272 | |
Liabilities | |||
Deposits and other demand liabilities | 7,768,166 | 7,539,315 | |
Obligations under repurchase agreements Loans | 268,061 | 212,437 | |
Time deposits and other time liabilities | 11,913,945 | 13,151,709 | |
Financial derivative contracts | 2,139,488 | 2,292,161 | |
Issued debt instruments | 709,365 | 7,326,372 | |
Other financial liabilities | 745,363 | 795,785 | |
Santander Group Companies [Member] | |||
Assets | |||
Cash and deposits in banks | 74,949 | 187,701 | $ 23,578 |
Trading investments | |||
Obligations under repurchase agreements Loans | |||
Financial derivative contracts | 545,028 | 742,851 | 771,774 |
Available for sale investments | |||
Other assets | 8,480 | 4,711 | 3,218 |
Liabilities | |||
Deposits and other demand liabilities | 24,776 | 6,988 | 9,987 |
Obligations under repurchase agreements Loans | 50,945 | 56,167 | 12,006 |
Time deposits and other time liabilities | 785,988 | 1,545,835 | 1,360,572 |
Financial derivative contracts | 418,647 | 954,575 | 1,323,996 |
Issued debt instruments | 482,626 | 484,548 | 398,565 |
Other financial liabilities | 4,919 | 8,970 | 2,409 |
Other liabilities | 164,303 | 446 | 376 |
Associates [member] | |||
Assets | |||
Cash and deposits in banks | |||
Trading investments | |||
Obligations under repurchase agreements Loans | |||
Financial derivative contracts | 86,011 | 33,433 | 24,773 |
Available for sale investments | |||
Other assets | 118,136 | 67,454 | 19,101 |
Liabilities | |||
Deposits and other demand liabilities | 25,805 | 7,141 | 8,535 |
Obligations under repurchase agreements Loans | |||
Time deposits and other time liabilities | 27,968 | 6,219 | 234 |
Financial derivative contracts | 142,750 | 54,691 | 23,326 |
Issued debt instruments | |||
Other financial liabilities | |||
Other liabilities | 58,168 | 44,329 | 19,541 |
Key management personnel of entity or parent [member] | |||
Assets | |||
Cash and deposits in banks | |||
Trading investments | |||
Obligations under repurchase agreements Loans | |||
Financial derivative contracts | |||
Available for sale investments | |||
Other assets | |||
Liabilities | |||
Deposits and other demand liabilities | 2,470 | 2,883 | 2,454 |
Obligations under repurchase agreements Loans | |||
Time deposits and other time liabilities | 3,703 | 2,365 | 2,728 |
Financial derivative contracts | |||
Issued debt instruments | |||
Other financial liabilities | |||
Other liabilities | |||
Other related parties [member] | |||
Assets | |||
Cash and deposits in banks | |||
Trading investments | |||
Obligations under repurchase agreements Loans | |||
Financial derivative contracts | |||
Available for sale investments | |||
Other assets | |||
Liabilities | |||
Deposits and other demand liabilities | 221 | 630 | 1,373 |
Obligations under repurchase agreements Loans | |||
Time deposits and other time liabilities | 3,504 | 1,984 | 898 |
Financial derivative contracts | 7,190 | ||
Issued debt instruments | |||
Other financial liabilities | |||
Other liabilities |
TRANSACTIONS WITH RELATED PA191
TRANSACTIONS WITH RELATED PARTIES (Details 3) - CLP ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Income (expense) recorded | ||||
Fee and commission income and expenses | $ 279,063 | $ 254,424 | $ 237,627 | |
Other operating income and expenses | 62,016 | 6,427 | 6,439 | |
Santander Group Companies [Member] | ||||
Income (expense) recorded | ||||
Interest income and inflation-indexation adjustments | (43,892) | (39,279) | (10,986) | |
Fee and commission income and expenses | 72,273 | 56,952 | 35,955 | |
Net income (expense) from financial operations and net foreign exchange gain (loss) (*) | [1] | 363,108 | (343,963) | (321,985) |
Other operating income and expenses | 21,670 | 931 | 955 | |
Administrative and other expenses | (48,246) | (35,554) | (30,591) | |
Total | 364,913 | (360,913) | (326,652) | |
Associates [member] | ||||
Income (expense) recorded | ||||
Interest income and inflation-indexation adjustments | 40 | |||
Fee and commission income and expenses | 15,404 | 22,322 | 77 | |
Net income (expense) from financial operations and net foreign exchange gain (loss) (*) | [1] | (48,453) | (48,373) | (16,845) |
Other operating income and expenses | (1,454) | (2,239) | (1,027) | |
Administrative and other expenses | (47,220) | (43,115) | (41,691) | |
Total | (81,723) | (71,365) | (59,486) | |
Key management personnel of entity or parent [member] | ||||
Income (expense) recorded | ||||
Interest income and inflation-indexation adjustments | 1,051 | 1,164 | 1,664 | |
Fee and commission income and expenses | 224 | 204 | 208 | |
Net income (expense) from financial operations and net foreign exchange gain (loss) (*) | [1] | (3) | (88) | 15 |
Key personnel compensation and expenses | (43,037) | (37,328) | (39,323) | |
Total | (41,765) | (36,048) | (37,436) | |
Other related parties [member] | ||||
Income (expense) recorded | ||||
Interest income and inflation-indexation adjustments | 115 | 116 | ||
Fee and commission income and expenses | 1 | 20 | 39 | |
Net income (expense) from financial operations and net foreign exchange gain (loss) (*) | [1] | 19 | 2 | 6 |
Total | $ 20 | $ 137 | $ 161 | |
[1] | Primarily relates to derivative contracts used to financially cover exchange risk of assets and liabilities that cover positions of the Bank and its subsidiaries. |
TRANSACTIONS WITH RELATED PA192
TRANSACTIONS WITH RELATED PARTIES (Details 4) - CLP ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Transactions With Related Parties | ||||
Personnel compensation | $ 16,863 | $ 17,493 | $ 18,605 | |
Board members' salaries and expenses | 1,199 | 1,269 | 1,374 | |
Bonuses or gratifications | 16,057 | 14,404 | 12,861 | |
Compensation in stock | 1,923 | 331 | 66 | |
Training expenses | 68 | 161 | 122 | |
Seniority compensation | 3,842 | 2,619 | 4,154 | |
Health funds | 273 | 285 | 314 | |
Other personnel expenses | 773 | 916 | 1,396 | |
Pension plans | [1] | 2,039 | (150) | 431 |
Total | $ 43,037 | $ 37,328 | $ 39,323 | |
[1] | Some of the executives that qualified for this benefit left the Group for different reasons, without complying with the requirements to receive the benefit, therefore the obligation amount decreased, which generated the reversal of provisions. |
TRANSACTIONS WITH RELATED PA193
TRANSACTIONS WITH RELATED PARTIES (Details 5) - Executive | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Disclosure of transactions between related parties [line items] | |||
No. of executives | 133 | 167 | 160 |
Director [Member] | |||
Disclosure of transactions between related parties [line items] | |||
No. of executives | 11 | 13 | 12 |
Division Manager [Member] | |||
Disclosure of transactions between related parties [line items] | |||
No. of executives | 13 | 17 | 16 |
Department Manager [Member] | |||
Disclosure of transactions between related parties [line items] | |||
No. of executives | 63 | 76 | 79 |
Manager [Member] | |||
Disclosure of transactions between related parties [line items] | |||
No. of executives | 46 | 61 | 53 |
PENSION PLANS (Details)
PENSION PLANS (Details) - Other post-employment benefit plans [Member] | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of defined benefit plans [line items] | ||
Mortality chart | RV2014 | RV-2014/CB-2014 |
Termination of contract rates | 5.00% | 5.00% |
Impairment chart | PDT 1985 | PDT 1985 |
PENSION PLANS (Details 1)
PENSION PLANS (Details 1) - Other post-employment benefit plans [Member] - CLP ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Disclosure of defined benefit plans [line items] | ||||
Plan assets | $ 7,919 | $ 6,612 | $ 6,945 | $ 6,495 |
Commitments for defined-benefit plans | ||||
For active personnel | (6,998) | (4,975) | ||
Incurred by inactive personnel | ||||
Minus: | ||||
Unrealized actuarial (gain) losses | ||||
Balances at year end | $ 921 | $ 1,637 | $ 1,875 |
PENSION PLANS (Details 2)
PENSION PLANS (Details 2) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
a) Fair value of plan assets | |||
Expected yield of insurance contracts | $ (307) | $ (335) | $ (432) |
b) Present value of obligations | |||
Service cost | 2,039 | (150) | 431 |
Interest cost | |||
Past service cost | |||
Actuarial (gain) losses | |||
Other post-employment benefit plans [Member] | |||
a) Fair value of plan assets | |||
Opening balance | 6,612 | 6,945 | 6,495 |
Expected yield of insurance contracts | 307 | 335 | 432 |
Employer contributions | 1,931 | 886 | 18 |
Actuarial (gain) losses | |||
Premiums paid | |||
Benefits paid | (931) | (1,554) | |
Fair value of plan assets at year end | 7,919 | 6,612 | 6,945 |
b) Present value of obligations | |||
Present value of obligations opening balance | (4,975) | (5,070) | (4,639) |
Net incorporation of Group companies | |||
Service cost | (2,039) | 150 | (431) |
Interest cost | |||
Curtailment/settlement effect | |||
Benefits paid | |||
Past service cost | |||
Actuarial (gain) losses | |||
Other | 16 | (55) | |
Present value of obligations at year end | (6,998) | (4,975) | (5,070) |
Net balance at year end | $ 921 | $ 1,637 | $ 1,875 |
PENSION PLANS (Details 3)
PENSION PLANS (Details 3) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Pension Plans | |||
Type of expected yield from the plan's assets | UF + 2.50% annual | UF + 2.50% annual | UF + 2.50% annual |
Type of yield expected from the reimbursement rights | UF + 2.50% annual | UF + 2.50% annual | UF + 2.50% annual |
PENSION PLANS (Details 4)
PENSION PLANS (Details 4) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Pension Plans | |||
Current period service expenses | $ 2,039 | $ (150) | $ 431 |
Interest cost | |||
Expected yield from plan's assets | (307) | (335) | (432) |
Expected yield of insurance contracts linked to the Plan: | |||
Extraordinary allocations | |||
Actuarial (gain)/ losses recorded in the period | |||
Past service cost | |||
Other | |||
Total | $ 1,732 | $ (485) | $ (1) |
FAIR VALUE OF FINANCIAL ASSE199
FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES (Details) - CLP ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 | ||
Disclosure of financial assets [line items] | ||||
Assets | $ 35,823,605 | $ 37,030,025 | ||
Liabilities | 32,675,685 | 34,091,826 | ||
Deposits and other demand liabilities [Member] | ||||
Disclosure of financial assets [line items] | ||||
Liabilities | 7,768,166 | 7,539,315 | ||
Financial derivative contracts [Member] | ||||
Disclosure of financial assets [line items] | ||||
Liabilities | 2,139,488 | 2,292,161 | ||
Guarantees received (margin accounts) [Member] | ||||
Disclosure of financial assets [line items] | ||||
Liabilities | 408,313 | 480,926 | ||
Trading investments [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets | 485,736 | 396,987 | ||
Financial derivative contracts [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets | 2,238,647 | 2,500,782 | ||
Loans and accounts receivables from customers [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets | 27,563,229 | [1] | 26,933,624 | [2] |
Available for sale investments [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets | 2,574,546 | 3,388,906 | ||
Guarantee Deposits (Margin Accounts) [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets | 323,767 | 396,289 | ||
Book Value [Member] | Deposits and other demand liabilities [Member] | ||||
Disclosure of financial assets [line items] | ||||
Liabilities | 21,380,468 | 22,607,392 | ||
Book Value [Member] | Financial derivative contracts [Member] | ||||
Disclosure of financial assets [line items] | ||||
Liabilities | 2,139,488 | 2,292,161 | ||
Book Value [Member] | Issued Debt Instruments And Other Financial Liabilities [Member] | ||||
Disclosure of financial assets [line items] | ||||
Liabilities | 7,335,683 | 7,566,388 | ||
Book Value [Member] | Guarantees received (margin accounts) [Member] | ||||
Disclosure of financial assets [line items] | ||||
Liabilities | 408,313 | 480,926 | ||
Book Value [Member] | Trading investments [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets | 485,736 | 396,987 | ||
Book Value [Member] | Financial derivative contracts [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets | 2,238,647 | 2,500,782 | ||
Book Value [Member] | Loans and accounts receivables from customers [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets | 26,934,757 | 26,415,826 | ||
Book Value [Member] | Available for sale investments [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets | 2,574,546 | 3,388,906 | ||
Book Value [Member] | Guarantee Deposits (Margin Accounts) [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets | 323,767 | 396,289 | ||
At fair value [member] | Deposits and other demand liabilities [Member] | ||||
Disclosure of financial assets [line items] | ||||
Liabilities | 20,887,959 | 22,833,009 | ||
At fair value [member] | Financial derivative contracts [Member] | ||||
Disclosure of financial assets [line items] | ||||
Liabilities | 2,139,488 | 2,292,161 | ||
At fair value [member] | Issued Debt Instruments And Other Financial Liabilities [Member] | ||||
Disclosure of financial assets [line items] | ||||
Liabilities | 7,487,591 | 8,180,322 | ||
At fair value [member] | Guarantees received (margin accounts) [Member] | ||||
Disclosure of financial assets [line items] | ||||
Liabilities | 408,313 | 480,926 | ||
At fair value [member] | Trading investments [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets | 485,736 | 396,987 | ||
At fair value [member] | Financial derivative contracts [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets | 2,238,647 | 2,500,782 | ||
At fair value [member] | Loans and accounts receivables from customers [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets | 28,518,929 | 29,976,931 | ||
At fair value [member] | Available for sale investments [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets | 2,574,546 | 3,388,906 | ||
At fair value [member] | Guarantee Deposits (Margin Accounts) [Member] | ||||
Disclosure of financial assets [line items] | ||||
Assets | $ 323,767 | $ 396,289 | ||
[1] | Loans and accounts receivables from customers are presented on a gross basis. Provisions amounts according to type of loan are detailed as follows: Commercial loans Ch$ 437,863 million, Mortgage loans Ch$ 69,066 million, and Consumer loans Ch$ 283,756 million. | |||
[2] | Loans and accounts receivables from customers are presented on a gross basis. Provisions amounts according to type of loan are detailed as follows: Commercial loans Ch$ 429,442 million, Mortgage loans Ch$ 57,009 million, and Consumer loans Ch$ 300,019 million. |
FAIR VALUE OF FINANCIAL ASSE200
FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES (Details 1) - CLP ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Disclosure of financial assets [line items] | |||
Assets | $ 35,823,605 | $ 37,030,025 | |
Liabilities | 32,675,685 | 34,091,826 | |
Financial derivative contracts [Member] | |||
Disclosure of financial assets [line items] | |||
Liabilities | 2,139,488 | 2,292,161 | |
Guarantees received (margin accounts) [Member] | |||
Disclosure of financial assets [line items] | |||
Liabilities | 408,313 | 480,926 | |
Level 3 [Member] | |||
Disclosure of financial assets [line items] | |||
Assets | 62,134 | 79,181 | $ 39,913 |
Liabilities | 7 | 43 | |
Trading investments [Member] | |||
Disclosure of financial assets [line items] | |||
Assets | 485,736 | 396,987 | |
Available for sale investments [Member] | |||
Disclosure of financial assets [line items] | |||
Assets | 2,574,546 | 3,388,906 | |
Financial derivative contracts [Member] | |||
Disclosure of financial assets [line items] | |||
Assets | 2,238,647 | 2,500,782 | |
Guarantee Deposits (Margin Accounts) [Member] | |||
Disclosure of financial assets [line items] | |||
Assets | 323,767 | 396,289 | |
Recurrent Basis [Member] | |||
Disclosure of financial assets [line items] | |||
Assets | 5,622,696 | 6,682,964 | |
Liabilities | 2,547,801 | 2,773,087 | |
Recurrent Basis [Member] | Financial derivative contracts [Member] | |||
Disclosure of financial assets [line items] | |||
Liabilities | 2,139,488 | 2,292,161 | |
Recurrent Basis [Member] | Guarantees received (margin accounts) [Member] | |||
Disclosure of financial assets [line items] | |||
Liabilities | 408,313 | 480,926 | |
Recurrent Basis [Member] | Level 1 [Member] | |||
Disclosure of financial assets [line items] | |||
Assets | 3,354,635 | 3,263,739 | |
Liabilities | 408,313 | 480,926 | |
Recurrent Basis [Member] | Level 1 [Member] | Financial derivative contracts [Member] | |||
Disclosure of financial assets [line items] | |||
Liabilities | |||
Recurrent Basis [Member] | Level 1 [Member] | Guarantees received (margin accounts) [Member] | |||
Disclosure of financial assets [line items] | |||
Liabilities | 408,313 | 480,926 | |
Recurrent Basis [Member] | Level 2 [Member] | |||
Disclosure of financial assets [line items] | |||
Assets | 2,245,074 | 3,379,191 | |
Liabilities | 2,139,481 | 2,292,118 | |
Recurrent Basis [Member] | Level 2 [Member] | Financial derivative contracts [Member] | |||
Disclosure of financial assets [line items] | |||
Liabilities | 2,139,481 | 2,292,118 | |
Recurrent Basis [Member] | Level 2 [Member] | Guarantees received (margin accounts) [Member] | |||
Disclosure of financial assets [line items] | |||
Liabilities | |||
Recurrent Basis [Member] | Level 3 [Member] | |||
Disclosure of financial assets [line items] | |||
Assets | 22,987 | 40,034 | |
Liabilities | 7 | 43 | |
Recurrent Basis [Member] | Level 3 [Member] | Financial derivative contracts [Member] | |||
Disclosure of financial assets [line items] | |||
Liabilities | 7 | 43 | |
Recurrent Basis [Member] | Level 3 [Member] | Guarantees received (margin accounts) [Member] | |||
Disclosure of financial assets [line items] | |||
Liabilities | |||
Recurrent Basis [Member] | Trading investments [Member] | |||
Disclosure of financial assets [line items] | |||
Assets | 485,736 | 396,987 | |
Recurrent Basis [Member] | Trading investments [Member] | Level 1 [Member] | |||
Disclosure of financial assets [line items] | |||
Assets | 481,642 | 396,011 | |
Recurrent Basis [Member] | Trading investments [Member] | Level 2 [Member] | |||
Disclosure of financial assets [line items] | |||
Assets | 4,094 | 976 | |
Recurrent Basis [Member] | Trading investments [Member] | Level 3 [Member] | |||
Disclosure of financial assets [line items] | |||
Assets | |||
Recurrent Basis [Member] | Available for sale investments [Member] | |||
Disclosure of financial assets [line items] | |||
Assets | 2,574,546 | 3,388,906 | |
Recurrent Basis [Member] | Available for sale investments [Member] | Level 1 [Member] | |||
Disclosure of financial assets [line items] | |||
Assets | 2,549,226 | 2,471,439 | |
Recurrent Basis [Member] | Available for sale investments [Member] | Level 2 [Member] | |||
Disclosure of financial assets [line items] | |||
Assets | 24,674 | 916,808 | |
Recurrent Basis [Member] | Available for sale investments [Member] | Level 3 [Member] | |||
Disclosure of financial assets [line items] | |||
Assets | 646 | 659 | |
Recurrent Basis [Member] | Financial derivative contracts [Member] | |||
Disclosure of financial assets [line items] | |||
Assets | 2,238,647 | 2,500,782 | |
Recurrent Basis [Member] | Financial derivative contracts [Member] | Level 1 [Member] | |||
Disclosure of financial assets [line items] | |||
Assets | |||
Recurrent Basis [Member] | Financial derivative contracts [Member] | Level 2 [Member] | |||
Disclosure of financial assets [line items] | |||
Assets | 2,216,306 | 2,461,407 | |
Recurrent Basis [Member] | Financial derivative contracts [Member] | Level 3 [Member] | |||
Disclosure of financial assets [line items] | |||
Assets | 22,341 | 39,375 | |
Recurrent Basis [Member] | Guarantee Deposits (Margin Accounts) [Member] | |||
Disclosure of financial assets [line items] | |||
Assets | 323,767 | 396,289 | |
Recurrent Basis [Member] | Guarantee Deposits (Margin Accounts) [Member] | Level 1 [Member] | |||
Disclosure of financial assets [line items] | |||
Assets | 323,767 | 396,289 | |
Recurrent Basis [Member] | Guarantee Deposits (Margin Accounts) [Member] | Level 2 [Member] | |||
Disclosure of financial assets [line items] | |||
Assets | |||
Recurrent Basis [Member] | Guarantee Deposits (Margin Accounts) [Member] | Level 3 [Member] | |||
Disclosure of financial assets [line items] | |||
Assets |
FAIR VALUE OF FINANCIAL ASSE201
FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES (Details 2) - CLP ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Disclosure of financial assets [line items] | |||||
Assets | $ 35,823,605 | $ 37,030,025 | |||
Liabilities | 32,675,685 | 34,091,826 | |||
Deposits and other demand liabilities [Member] | |||||
Disclosure of financial assets [line items] | |||||
Liabilities | 7,768,166 | 7,539,315 | |||
Level 3 [Member] | |||||
Disclosure of financial assets [line items] | |||||
Assets | 62,134 | 79,181 | $ 39,913 | ||
Liabilities | 7 | 43 | |||
Loans and accounts receivables from customers [Member] | |||||
Disclosure of financial assets [line items] | |||||
Assets | 27,563,229 | [1] | 26,933,624 | [2] | |
Not Measured At Fair Value [Member] | |||||
Disclosure of financial assets [line items] | |||||
Assets | 28,518,929 | 29,976,931 | |||
Liabilities | 28,375,550 | 31,013,331 | |||
Not Measured At Fair Value [Member] | Deposits and other demand liabilities [Member] | |||||
Disclosure of financial assets [line items] | |||||
Liabilities | 20,887,959 | 22,833,009 | |||
Not Measured At Fair Value [Member] | Issued Debt Instruments And Other Financial Liabilities [Member] | |||||
Disclosure of financial assets [line items] | |||||
Liabilities | 7,487,591 | 8,180,322 | |||
Not Measured At Fair Value [Member] | Level 1 [Member] | |||||
Disclosure of financial assets [line items] | |||||
Assets | |||||
Liabilities | |||||
Not Measured At Fair Value [Member] | Level 1 [Member] | Deposits and other demand liabilities [Member] | |||||
Disclosure of financial assets [line items] | |||||
Liabilities | |||||
Not Measured At Fair Value [Member] | Level 1 [Member] | Issued Debt Instruments And Other Financial Liabilities [Member] | |||||
Disclosure of financial assets [line items] | |||||
Liabilities | |||||
Not Measured At Fair Value [Member] | Level 2 [Member] | |||||
Disclosure of financial assets [line items] | |||||
Assets | |||||
Liabilities | 28,375,550 | 31,013,331 | |||
Not Measured At Fair Value [Member] | Level 2 [Member] | Deposits and other demand liabilities [Member] | |||||
Disclosure of financial assets [line items] | |||||
Liabilities | 20,887,959 | 22,833,009 | |||
Not Measured At Fair Value [Member] | Level 2 [Member] | Issued Debt Instruments And Other Financial Liabilities [Member] | |||||
Disclosure of financial assets [line items] | |||||
Liabilities | 7,487,591 | 8,180,322 | |||
Not Measured At Fair Value [Member] | Level 3 [Member] | |||||
Disclosure of financial assets [line items] | |||||
Assets | 28,518,929 | 29,976,931 | |||
Liabilities | |||||
Not Measured At Fair Value [Member] | Level 3 [Member] | Deposits and other demand liabilities [Member] | |||||
Disclosure of financial assets [line items] | |||||
Liabilities | |||||
Not Measured At Fair Value [Member] | Level 3 [Member] | Issued Debt Instruments And Other Financial Liabilities [Member] | |||||
Disclosure of financial assets [line items] | |||||
Liabilities | |||||
Not Measured At Fair Value [Member] | Loans and accounts receivables from customers [Member] | |||||
Disclosure of financial assets [line items] | |||||
Assets | 28,518,929 | 29,976,931 | |||
Not Measured At Fair Value [Member] | Loans and accounts receivables from customers [Member] | Level 1 [Member] | |||||
Disclosure of financial assets [line items] | |||||
Assets | |||||
Not Measured At Fair Value [Member] | Loans and accounts receivables from customers [Member] | Level 2 [Member] | |||||
Disclosure of financial assets [line items] | |||||
Assets | |||||
Not Measured At Fair Value [Member] | Loans and accounts receivables from customers [Member] | Level 3 [Member] | |||||
Disclosure of financial assets [line items] | |||||
Assets | $ 28,518,929 | $ 29,976,931 | |||
[1] | Loans and accounts receivables from customers are presented on a gross basis. Provisions amounts according to type of loan are detailed as follows: Commercial loans Ch$ 437,863 million, Mortgage loans Ch$ 69,066 million, and Consumer loans Ch$ 283,756 million. | ||||
[2] | Loans and accounts receivables from customers are presented on a gross basis. Provisions amounts according to type of loan are detailed as follows: Commercial loans Ch$ 429,442 million, Mortgage loans Ch$ 57,009 million, and Consumer loans Ch$ 300,019 million. |
FAIR VALUE OF FINANCIAL ASSE202
FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES (Details 3) - Level 3 [Member] - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | ||
Financial derivative contracts [Member] | Present Value Method [Member] | |||
Disclosure of financial assets [line items] | |||
Main unobservabe inputs | [1] | Curves on TAB indices | Curves on TAB indices |
Impact Sens. -1bp Unfavourable scenario | $ (1.3) | $ (12.3) | |
Impact Sens. +1bp Favourable scenario | $ 1.3 | $ 12.3 | |
Available for sale investments [Member] | Internal Rate Of Return Method [Member] | |||
Disclosure of financial assets [line items] | |||
Main unobservabe inputs | [2] | BR UF | BR UF |
[1] | TAB: "Tasa Activa Bancaria" (Active Bank Rate). Average interest rates on 30, 90, 180 and 360 day deposits published by the Chilean Association of Banks and Financial Institutions (ABIF) in nominal currency (Chilean peso) and in real terms, adjusted for inflation (in Chilean unit of account (Unidad de Fomento - UF)). | ||
[2] | BR: "Bonos de Reconocimiento" (Recognition Bonds). The Recognition Bond is an instrument of money provided by the State of Chile to workers who joined the new pension system, which began operating since 1981. |
FAIR VALUE OF FINANCIAL ASSE203
FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES (Details 4) - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of fair value measurement of assets [line items] | ||
As of January 1, 2017 | $ 37,030,025 | |
Total realized and unrealized profits (losses) | ||
As of December 31, 2017 | 35,823,605 | $ 37,030,025 |
Reconciliation of Changes in Fair Value Measurement, Liabilities [Roll Forward] | ||
As of January 1, 2017 | 34,091,826 | |
Total realized and unrealized profits (losses) | ||
As of December 31, 2017 | 32,675,685 | 34,091,826 |
Level 3 [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
As of January 1, 2017 | 79,181 | 39,913 |
Total realized and unrealized profits (losses) | ||
Included in statement of income | (17,035) | 39,376 |
Included in other comprehensive income | (12) | (108) |
Purchases, issuances, and loans (net) | ||
As of December 31, 2017 | 62,134 | 79,181 |
Total profits or losses included in comprehensive income for 2017 that are attributable to change in unrealized profit (losses) related to assets or liabilities as of December 31, 2016 | (17,047) | 39,268 |
Reconciliation of Changes in Fair Value Measurement, Liabilities [Roll Forward] | ||
As of January 1, 2017 | 43 | |
Total realized and unrealized profits (losses) | ||
Included in statement of income | (36) | 43 |
Included in other comprehensive income | ||
Purchases, issuances, and loans (net) | ||
As of December 31, 2017 | 7 | 43 |
Total profits or losses included in comprehensive income for 2017 that are attributable to change in unrealized profit (losses) related to assets or liabilities as of December 31, 2016 | $ (36) | $ 43 |
FAIR VALUE OF FINANCIAL ASSE204
FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES (Details 5) - CLP ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Assets | ||
Gross amounts | $ 2,029,657 | $ 2,244,467 |
Compensated in balance | ||
Net amount presented in balance | 2,029,657 | 2,244,467 |
Remains of unrelated and / or unencumbered financial instruments | 27,143,747 | 26,678,877 |
Amount in Statements of Financial Position | 29,173,404 | 28,923,344 |
Liabilities | ||
Gross amounts | 2,195,715 | 2,313,392 |
Compensated in balance | ||
Net amount presented in balance | 2,195,715 | 2,313,392 |
Remains of unrelated and / or unencumbered financial instruments | 21,592,301 | 22,798,598 |
Amount in Statements of Financial Position | 23,788,016 | 25,111,990 |
Financial derivative contracts [Member] | ||
Assets | ||
Gross amounts | ||
Compensated in balance | ||
Net amount presented in balance | ||
Remains of unrelated and / or unencumbered financial instruments | ||
Amount in Statements of Financial Position | ||
Liabilities | ||
Gross amounts | 1,927,654 | 2,100,955 |
Compensated in balance | ||
Net amount presented in balance | 1,927,654 | 2,100,955 |
Remains of unrelated and / or unencumbered financial instruments | 211,834 | 191,206 |
Amount in Statements of Financial Position | 2,139,488 | 2,292,161 |
Investments Under Resale Agreements [Member] | ||
Liabilities | ||
Gross amounts | 268,061 | 212,437 |
Compensated in balance | ||
Net amount presented in balance | 268,061 | 212,437 |
Remains of unrelated and / or unencumbered financial instruments | ||
Amount in Statements of Financial Position | 268,061 | 212,437 |
Deposits and other demand liabilities [Member] | ||
Liabilities | ||
Gross amounts | ||
Compensated in balance | ||
Net amount presented in balance | ||
Remains of unrelated and / or unencumbered financial instruments | 21,380,467 | 22,607,392 |
Amount in Statements of Financial Position | 21,380,467 | 22,607,392 |
Financial derivative contracts [Member] | ||
Assets | ||
Gross amounts | 2,029,657 | 2,237,731 |
Compensated in balance | ||
Net amount presented in balance | 2,029,657 | 2,237,731 |
Remains of unrelated and / or unencumbered financial instruments | 208,990 | 263,051 |
Amount in Statements of Financial Position | 2,238,647 | 2,500,782 |
Loans and accounts receivables from customers [Member] | ||
Assets | ||
Gross amounts | ||
Compensated in balance | ||
Net amount presented in balance | ||
Remains of unrelated and / or unencumbered financial instruments | 26,934,757 | 26,415,826 |
Amount in Statements of Financial Position | $ 26,934,757 | 26,415,826 |
Investments Under Resale Agreements [Member] | ||
Assets | ||
Gross amounts | 6,736 | |
Compensated in balance | ||
Net amount presented in balance | 6,736 | |
Remains of unrelated and / or unencumbered financial instruments | ||
Amount in Statements of Financial Position | $ 6,736 |
FAIR VALUE OF FINANCIAL ASSE205
FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES (Details 6) - CLP ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of financial assets [line items] | ||
Assets | $ 2,238,647 | $ 2,500,782 |
Liability | 2,139,488 | 2,292,161 |
Financial Liabilities Derivative Contracts With Collateral Agreement Threshold Equal To Zero [Member] | ||
Disclosure of financial assets [line items] | ||
Liability | 1,773,471 | 1,986,345 |
Financial Liabilities Derivative Contracts With Non-Zero Threshold Collateral Agreement [Member] | ||
Disclosure of financial assets [line items] | ||
Liability | 316,840 | 238,450 |
Financial Liabilities Derivative Contracts Without Collateral Agreement [Member] | ||
Disclosure of financial assets [line items] | ||
Liability | 49,177 | 67,366 |
Financial Assets Derivative Contracts With Collateral Agreement Threshold Equal To Zero | ||
Disclosure of financial assets [line items] | ||
Assets | 1,898,220 | 2,134,917 |
Financial Assets Derivative Contracts With Non-Zero Threshold Collateral Agreement | ||
Disclosure of financial assets [line items] | ||
Assets | 221,030 | 233,945 |
Financial Assets Derivative Contracts Without Collateral Agreement | ||
Disclosure of financial assets [line items] | ||
Assets | $ 119,397 | $ 131,920 |
RISK MANAGEMENT (Details)
RISK MANAGEMENT (Details) - Credit Risk [Member] - Consumer Loans [Member] | 12 Months Ended | |
Dec. 31, 2017 | ||
Performing Loan [Member] | New Client [Member] | Bottom of Range [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 0.53% | [1] |
Performing Loan [Member] | New Client [Member] | Top of Range [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 19.75% | [1] |
Performing Loan [Member] | Existing Clients [Member] | Bottom of Range [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 0.05% | [1] |
Performing Loan [Member] | Existing Clients [Member] | Top of Range [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 11.92% | [1] |
Performing Loan [Member] | Banefe [Member] | Bottom of Range [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 0.13% | |
Performing Loan [Member] | Banefe [Member] | Top of Range [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 18.67% | |
Renegotiated Consumer Loans [Member] | Existing Clients [Member] | Bottom of Range [Member] | Up to 3 Months [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 41.50% | [1],[2] |
Renegotiated Consumer Loans [Member] | Existing Clients [Member] | Top of Range [Member] | Less Than 90 Days [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 30.40% | [1],[2] |
Renegotiated Consumer Loans [Member] | Existing Clients [Member] | Top of Range [Member] | Up to 3 Months [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 100.00% | [1],[2] |
Renegotiated Consumer Loans [Member] | Banefe [Member] | Bottom of Range [Member] | Up to 3 Months [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 51.11% | |
Renegotiated Consumer Loans [Member] | Banefe [Member] | Top of Range [Member] | Less Than 90 Days [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 43.71% | |
Renegotiated Consumer Loans [Member] | Banefe [Member] | Top of Range [Member] | Up to 3 Months [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 100.00% | |
Non-Performing Loan [Member] | 90-120 Days [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate previously | 41.50% | [1] |
Non-Performing Loan [Member] | 120-150 Days [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate previously | 60.15% | [1] |
Non-Performing Loan [Member] | 150-180 Days [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate previously | 78.50% | [1] |
Non-Performing Loan [Member] | New Client [Member] | 90-120 Days [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 31.78% | [1] |
Non-Performing Loan [Member] | New Client [Member] | 120-150 Days [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 51.17% | [1] |
Non-Performing Loan [Member] | New Client [Member] | 150-180 Days [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 59.98% | [1] |
Non-Performing Loan [Member] | New Client [Member] | >180 Days [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Description of allowance for loan loss rate | Charged-off | |
Non-Performing Loan [Member] | Existing Clients [Member] | 90-120 Days [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 31.78% | [1] |
Non-Performing Loan [Member] | Existing Clients [Member] | 120-150 Days [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 51.17% | [1] |
Non-Performing Loan [Member] | Existing Clients [Member] | 150-180 Days [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 59.98% | [1] |
Non-Performing Loan [Member] | Banefe [Member] | 90-120 Days [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate previously | 51.11% | |
Non-Performing Loan [Member] | Banefe [Member] | 120-150 Days [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate previously | 66.65% | |
Non-Performing Loan [Member] | Banefe [Member] | 150-180 Days [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate previously | 78.50% | |
Renegotiated Consumer Loans [Member] | Existing Clients [Member] | Bottom of Range [Member] | Less Than 90 Days [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 3.66% | [1],[2] |
Renegotiated Consumer Loans [Member] | Banefe [Member] | Bottom of Range [Member] | Less Than 90 Days [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 10.19% | |
[1] | Percentage of loans outstanding | |
[2] | This category relates only to loans which were renegotiated and were less than 90 days past due at the time of renegotiation, migrating from such category as they reached 90 days past due since renegotiation. |
RISK MANAGEMENT (Details 1)
RISK MANAGEMENT (Details 1) - Credit Risk [Member] - Commerical Loans [Member] | Dec. 31, 2017 | |
Performing Loan [Member] | Commercial Loan to Individuals With Out Mortgage Collateral [Member] | Bottom of Range [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 0.87% | [1] |
Performing Loan [Member] | Commercial Loan to Individuals With Out Mortgage Collateral [Member] | Top of Range [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 15.70% | [1] |
Performing Loan [Member] | Commercial Loan to Individuals With Mortgage Collateral [Member] | Bottom of Range [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 0.03% | [1] |
Performing Loan [Member] | Commercial Loan to Individuals With Mortgage Collateral [Member] | Top of Range [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 3.89% | [1] |
Performing Loan [Member] | Small Enterprise [Member] | Bottom of Range [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 0.21% | [1] |
Performing Loan [Member] | Small Enterprise [Member] | Top of Range [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 21.82% | [1] |
Performing Loan [Member] | Mid-sized Enterprise [Member] | Bottom of Range [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 0.14% | [1] |
Performing Loan [Member] | Mid-sized Enterprise [Member] | Top of Range [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 7.31% | [1] |
Renegotiated Consumer Loans [Member] | Bottom of Range [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 5.22% | [1] |
Renegotiated Consumer Loans [Member] | Top of Range [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 19.54% | [1] |
Renegotiated Consumer Loans [Member] | Commercial Loan to Individuals With Out Mortgage Collateral [Member] | 90-179 Days [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 41.69% | [1],[2] |
Renegotiated Consumer Loans [Member] | Commercial Loan to Individuals With Out Mortgage Collateral [Member] | 180-359 Days [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 67.31% | [1],[2] |
Renegotiated Consumer Loans [Member] | Commercial Loan to Individuals With Out Mortgage Collateral [Member] | 360-719 Days [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 75.69% | [1],[2] |
Renegotiated Consumer Loans [Member] | Commercial Loan to Individuals With Out Mortgage Collateral [Member] | >720 Days [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 83.82% | [1],[2] |
Renegotiated Consumer Loans [Member] | Commercial Loan to Individuals With Out Mortgage Collateral [Member] | Bottom of Range [Member] | Less Than 90 Days [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 2.93% | [1],[2] |
Renegotiated Consumer Loans [Member] | Commercial Loan to Individuals With Out Mortgage Collateral [Member] | Top of Range [Member] | Less Than 90 Days [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 20.65% | [1],[2] |
Renegotiated Consumer Loans [Member] | Commercial Loan to Individuals With Mortgage Collateral [Member] | 90-179 Days [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 12.15% | [1],[2] |
Renegotiated Consumer Loans [Member] | Commercial Loan to Individuals With Mortgage Collateral [Member] | 180-359 Days [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 23.42% | [1],[2] |
Renegotiated Consumer Loans [Member] | Commercial Loan to Individuals With Mortgage Collateral [Member] | 360-719 Days [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 34.65% | [1],[2] |
Renegotiated Consumer Loans [Member] | Commercial Loan to Individuals With Mortgage Collateral [Member] | >720 Days [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 46.25% | [1],[2] |
Renegotiated Consumer Loans [Member] | Commercial Loan to Individuals With Mortgage Collateral [Member] | Bottom of Range [Member] | Less Than 90 Days [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 1.17% | |
Renegotiated Consumer Loans [Member] | Commercial Loan to Individuals With Mortgage Collateral [Member] | Top of Range [Member] | Less Than 90 Days [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 8.25% | |
Renegotiated Consumer Loans [Member] | Small Enterprise [Member] | 90-179 Days [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 30.95% | [1],[2] |
Renegotiated Consumer Loans [Member] | Small Enterprise [Member] | 180-359 Days [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 64.47% | [1],[2] |
Renegotiated Consumer Loans [Member] | Small Enterprise [Member] | 360-719 Days [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 70.15% | [1],[2] |
Renegotiated Consumer Loans [Member] | Small Enterprise [Member] | >720 Days [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 74.53% | [1],[2] |
Renegotiated Consumer Loans [Member] | Mid-sized Enterprise [Member] | 90-179 Days [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 18.93% | [1],[2] |
Renegotiated Consumer Loans [Member] | Mid-sized Enterprise [Member] | 180-359 Days [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 51.86% | [1],[2] |
Renegotiated Consumer Loans [Member] | Mid-sized Enterprise [Member] | 360-719 Days [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 63.12% | [1],[2] |
Renegotiated Consumer Loans [Member] | Mid-sized Enterprise [Member] | >720 Days [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 72.87% | [1],[2] |
Non-Performing Loan [Member] | 90-179 Days [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate previously | 18.93% | [1] |
Non-Performing Loan [Member] | 180-359 Days [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate previously | 51.86% | [1] |
Non-Performing Loan [Member] | 360-719 Days [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate previously | 63.12% | [1] |
Non-Performing Loan [Member] | >720 Days [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate previously | 72.87% | [1] |
Non-Performing Loan [Member] | Commercial Loan to Individuals With Out Mortgage Collateral [Member] | 90-179 Days [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 41.69% | [1] |
Non-Performing Loan [Member] | Commercial Loan to Individuals With Out Mortgage Collateral [Member] | 180-359 Days [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 67.31% | [1] |
Non-Performing Loan [Member] | Commercial Loan to Individuals With Out Mortgage Collateral [Member] | 360-719 Days [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 75.69% | [1] |
Non-Performing Loan [Member] | Commercial Loan to Individuals With Out Mortgage Collateral [Member] | >720 Days [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 83.82% | [1] |
Non-Performing Loan [Member] | Commercial Loan to Individuals With Mortgage Collateral [Member] | 90-179 Days [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 12.15% | [1] |
Non-Performing Loan [Member] | Commercial Loan to Individuals With Mortgage Collateral [Member] | 180-359 Days [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 23.42% | [1] |
Non-Performing Loan [Member] | Commercial Loan to Individuals With Mortgage Collateral [Member] | 360-719 Days [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 34.65% | [1] |
Non-Performing Loan [Member] | Commercial Loan to Individuals With Mortgage Collateral [Member] | >720 Days [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 46.25% | [1] |
Non-Performing Loan [Member] | Small Enterprise [Member] | 90-179 Days [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 30.95% | [1] |
Non-Performing Loan [Member] | Small Enterprise [Member] | 180-359 Days [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 64.47% | [1] |
Non-Performing Loan [Member] | Small Enterprise [Member] | 360-719 Days [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 70.15% | [1] |
Non-Performing Loan [Member] | Small Enterprise [Member] | >720 Days [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 74.53% | [1] |
Non-Performing Loan [Member] | Mid-sized Enterprise [Member] | 90-179 Days [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 18.93% | [1] |
Non-Performing Loan [Member] | Mid-sized Enterprise [Member] | 180-359 Days [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 51.86% | [1] |
Non-Performing Loan [Member] | Mid-sized Enterprise [Member] | 360-719 Days [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 63.12% | [1] |
Non-Performing Loan [Member] | Mid-sized Enterprise [Member] | >720 Days [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 72.87% | [1] |
[1] | Percentage of loans outstanding | |
[2] | This category relates only to loans which were renegotiated and were less than 90 days past due at the time of renegotiation, migrating from such category as they reached 90 days past due since renegotiation. |
RISK MANAGEMENT (Details 2)
RISK MANAGEMENT (Details 2) - Credit Risk [Member] - Residential Mortgage Loans [Member] | Dec. 31, 2017 | [1] |
Performing Loan [Member] | Bank (excl. Select) [Member] | Bottom of Range [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 0.00% | |
Performing Loan [Member] | Bank (excl. Select) [Member] | Top of Range [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 5.18% | |
Performing Loan [Member] | Santander Select [Member] | Bottom of Range [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 0.00% | |
Performing Loan [Member] | Santander Select [Member] | Top of Range [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 3.88% | |
Renegotiated Consumer Loans [Member] | Bottom of Range [Member] | Less Than 90 Days [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 0.16% | [2] |
Renegotiated Consumer Loans [Member] | Bottom of Range [Member] | Up to 3 Months [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 5.58% | [2] |
Renegotiated Consumer Loans [Member] | Top of Range [Member] | Less Than 90 Days [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 8.37% | [2] |
Renegotiated Consumer Loans [Member] | Top of Range [Member] | Up to 3 Months [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 26.25% | [2] |
Non-Performing Loan [Member] | 0-60 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 5.58% | |
Non-Performing Loan [Member] | 60-80 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 8.48% | |
Non-Performing Loan [Member] | 80-90 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 11.93% | |
Non-Performing Loan [Member] | >90 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Percentage of allowance for loan loss rate | 16.25% | |
[1] | Percentage of loans outstanding | |
[2] | This category relates only to loans which were renegotiated and were less than 90 days past due at the time of renegotiation, migrating from such category as they reached 90 days past due since renegotiation. |
RISK MANAGEMENT (Details 3)
RISK MANAGEMENT (Details 3) - CLP ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of detailed information about financial instruments [line items] | ||
Allowance | $ 1,440 | $ 7,558 |
Credit Risk [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Allowance | $ 791,157 | $ 790,605 |
Allowance percentage % | 100.00% | 100.00% |
Credit Risk [Member] | Group [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets | $ 27,725,914 | $ 27,206,431 |
Financial assets percentage % | 100.00% | 100.00% |
Credit Risk [Member] | Commerical Loans [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets | $ 219,262 | |
Financial assets percentage % | 27.73% | |
Allowance | $ 219,073 | $ 250,471 |
Allowance percentage % | 27.69% | 31.69% |
Credit Risk [Member] | Commerical Loans [Member] | Normal Portfolio [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Allowance | $ 58,728 | $ 58,453 |
Allowance percentage % | 7.42% | 7.39% |
Credit Risk [Member] | Commerical Loans [Member] | Impaired Portfolio [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Allowance | $ 160,345 | $ 124,653 |
Allowance percentage % | 20.27% | 15.76% |
Credit Risk [Member] | Commerical Loans [Member] | A1 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Allowance | $ 827 | $ 923 |
Allowance percentage % | 0.10% | 0.12% |
Credit Risk [Member] | Commerical Loans [Member] | A2 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Allowance | $ 18,514 | $ 23,757 |
Allowance percentage % | 2.34% | 3.00% |
Credit Risk [Member] | Commerical Loans [Member] | A3 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Allowance | $ 27,894 | $ 29,668 |
Allowance percentage % | 3.53% | 3.75% |
Credit Risk [Member] | Commerical Loans [Member] | B [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Allowance | $ 32,089 | $ 40,545 |
Allowance percentage % | 4.06% | 5.13% |
Credit Risk [Member] | Commerical Loans [Member] | C1 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Allowance | $ 2,604 | $ 2,176 |
Allowance percentage % | 0.33% | 0.28% |
Credit Risk [Member] | Commerical Loans [Member] | C2 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Allowance | $ 5,104 | $ 4,555 |
Allowance percentage % | 0.65% | 0.58% |
Credit Risk [Member] | Commerical Loans [Member] | C3 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Allowance | $ 8,935 | $ 11,136 |
Allowance percentage % | 1.13% | 1.41% |
Credit Risk [Member] | Commerical Loans [Member] | C4 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Allowance | $ 19,120 | $ 22,894 |
Allowance percentage % | 2.42% | 2.90% |
Credit Risk [Member] | Commerical Loans [Member] | D1 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Allowance | $ 41,941 | $ 42,625 |
Allowance percentage % | 5.30% | 5.39% |
Credit Risk [Member] | Commerical Loans [Member] | D2 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Allowance | $ 62,234 | $ 72,192 |
Allowance percentage % | 7.87% | 9.13% |
Credit Risk [Member] | Commerical Loans [Member] | Individual [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets | $ 10,168,164 | $ 11,057,282 |
Financial assets percentage % | 36.67% | 40.65% |
Credit Risk [Member] | Commerical Loans [Member] | Individual [Member] | A1 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets | $ 1,051,072 | $ 1,599,311 |
Financial assets percentage % | 3.79% | 5.88% |
Credit Risk [Member] | Commerical Loans [Member] | Individual [Member] | A2 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets | $ 5,957,305 | $ 6,437,930 |
Financial assets percentage % | 21.49% | 23.67% |
Credit Risk [Member] | Commerical Loans [Member] | Individual [Member] | A3 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets | $ 2,176,779 | $ 2,030,867 |
Financial assets percentage % | 7.85% | 7.46% |
Credit Risk [Member] | Commerical Loans [Member] | Individual [Member] | B [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets | $ 539,074 | $ 538,909 |
Financial assets percentage % | 1.94% | 1.98% |
Credit Risk [Member] | Commerical Loans [Member] | Individual [Member] | C1 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets | $ 145,033 | $ 121,893 |
Financial assets percentage % | 0.52% | 0.45% |
Credit Risk [Member] | Commerical Loans [Member] | Individual [Member] | C2 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets | $ 56,871 | $ 51,034 |
Financial assets percentage % | 0.21% | 0.19% |
Credit Risk [Member] | Commerical Loans [Member] | Individual [Member] | C3 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets | $ 39,825 | $ 49,901 |
Financial assets percentage % | 0.14% | 0.18% |
Credit Risk [Member] | Commerical Loans [Member] | Individual [Member] | C4 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets | $ 53,261 | $ 64,118 |
Financial assets percentage % | 0.19% | 0.24% |
Credit Risk [Member] | Commerical Loans [Member] | Individual [Member] | D1 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets | $ 71,896 | $ 73,462 |
Financial assets percentage % | 0.26% | 0.27% |
Credit Risk [Member] | Commerical Loans [Member] | Individual [Member] | D2 [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets | $ 77,048 | $ 89,857 |
Financial assets percentage % | 0.28% | 0.33% |
Credit Risk [Member] | Commerical Loans [Member] | Group [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets | $ 3,903,163 | $ 3,082,990 |
Financial assets percentage % | 14.08% | 11.33% |
Credit Risk [Member] | Commerical Loans [Member] | Group [Member] | Normal Portfolio [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets | $ 3,488,633 | $ 2,741,858 |
Financial assets percentage % | 12.58% | 10.08% |
Credit Risk [Member] | Commerical Loans [Member] | Group [Member] | Impaired Portfolio [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets | $ 414,530 | $ 341,132 |
Financial assets percentage % | 1.50% | 1.25% |
Credit Risk [Member] | Residential Mortgage Loans [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Allowance | $ 69,066 | $ 57,009 |
Allowance percentage % | 8.72% | 7.21% |
Credit Risk [Member] | Residential Mortgage Loans [Member] | Normal Portfolio [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Allowance | $ 20,174 | $ 23,699 |
Allowance percentage % | 2.55% | 3.00% |
Credit Risk [Member] | Residential Mortgage Loans [Member] | Impaired Portfolio [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Allowance | $ 48,892 | $ 33,310 |
Allowance percentage % | 6.17% | 4.21% |
Credit Risk [Member] | Residential Mortgage Loans [Member] | Group [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets | $ 9,096,895 | $ 8,619,354 |
Financial assets percentage % | 32.81% | 31.68% |
Credit Risk [Member] | Residential Mortgage Loans [Member] | Group [Member] | Normal Portfolio [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets | $ 8,634,351 | $ 8,221,666 |
Financial assets percentage % | 31.14% | 30.22% |
Credit Risk [Member] | Residential Mortgage Loans [Member] | Group [Member] | Impaired Portfolio [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets | $ 462,544 | $ 397,688 |
Financial assets percentage % | 1.67% | 1.46% |
Credit Risk [Member] | Consumer Loans [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Allowance | $ 283,756 | $ 300,019 |
Allowance percentage % | 35.86% | 37.95% |
Credit Risk [Member] | Consumer Loans [Member] | Normal Portfolio [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Allowance | $ 114,099 | $ 147,979 |
Allowance percentage % | 14.42% | 18.72% |
Credit Risk [Member] | Consumer Loans [Member] | Impaired Portfolio [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Allowance | $ 169,657 | $ 152,040 |
Allowance percentage % | 21.44% | 19.23% |
Credit Risk [Member] | Consumer Loans [Member] | Group [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets | $ 4,557,692 | $ 4,446,805 |
Financial assets percentage % | 16.44% | 16.34% |
Credit Risk [Member] | Consumer Loans [Member] | Group [Member] | Normal Portfolio [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets | $ 4,230,567 | $ 4,158,221 |
Financial assets percentage % | 15.26% | 15.28% |
Credit Risk [Member] | Consumer Loans [Member] | Group [Member] | Impaired Portfolio [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets | $ 327,125 | $ 288,584 |
Financial assets percentage % | 1.18% | 1.06% |
RISK MANAGEMENT (Details 4)
RISK MANAGEMENT (Details 4) - Credit Risk [Member] - CLP ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of detailed information about financial instruments [line items] | ||
Total | $ 44,320,140 | $ 44,816,823 |
Deposits In Banks [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total | 839,561 | 1,709,071 |
Cash Items In Process Of Collection [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total | 668,145 | 495,283 |
Trading Investments [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total | 485,736 | 396,987 |
Investments Under Resale Agreements [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total | 6,736 | |
Financial Derivative Contracts [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total | 2,238,647 | 2,500,782 |
Loans And Accounts Receivable From Customers And Interbank Loans, Net [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total | 26,934,757 | 26,415,826 |
Available For Sale Investments [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total | 2,574,546 | 3,388,906 |
Letters Of Credit Issued [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total | 201,699 | 158,800 |
Foreign Letters Of Credit Confirmed [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total | 75,499 | 57,686 |
Guarantees [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total | 1,823,793 | 1,752,610 |
Available Credit Lines [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total | 8,135,489 | 7,548,820 |
Personal Guarantees [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total | 81,577 | 125,050 |
Other Irrevocable Credit Commitments [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Total | $ 260,691 | $ 260,266 |
RISK MANAGEMENT (Details 5)
RISK MANAGEMENT (Details 5) - USD $ in Thousands | 12 Months Ended |
Dec. 31, 2017USD ($) | |
Disclosure of detailed information about financial instruments [line items] | |
Derivative Instruments (adjusted to market) | $ 4,010 |
Deposits | 2,390 |
Loans | 254,590 |
Financial investments | |
Total Exposure | $ 260,990 |
Credit Risk [Member] | Foreign Derivative Contracts [Member] | Bolivia | |
Disclosure of detailed information about financial instruments [line items] | |
Classification | 3 |
Derivative Instruments (adjusted to market) | |
Deposits | |
Loans | 60 |
Financial investments | |
Total Exposure | $ 60 |
Credit Risk [Member] | Foreign Derivative Contracts [Member] | China | |
Disclosure of detailed information about financial instruments [line items] | |
Classification | 2 |
Derivative Instruments (adjusted to market) | |
Deposits | |
Loans | 243,950 |
Financial investments | |
Total Exposure | $ 243,950 |
Credit Risk [Member] | Foreign Derivative Contracts [Member] | Italia | |
Disclosure of detailed information about financial instruments [line items] | |
Classification | 2 |
Derivative Instruments (adjusted to market) | |
Deposits | 2,380 |
Loans | 780 |
Financial investments | |
Total Exposure | $ 3,160 |
Credit Risk [Member] | Foreign Derivative Contracts [Member] | Mexico | |
Disclosure of detailed information about financial instruments [line items] | |
Classification | 2 |
Derivative Instruments (adjusted to market) | |
Deposits | 10 |
Loans | |
Financial investments | |
Total Exposure | $ 10 |
Credit Risk [Member] | Foreign Derivative Contracts [Member] | Panama | |
Disclosure of detailed information about financial instruments [line items] | |
Classification | 2 |
Derivative Instruments (adjusted to market) | $ 630 |
Deposits | |
Loans | |
Financial investments | |
Total Exposure | $ 630 |
Credit Risk [Member] | Foreign Derivative Contracts [Member] | Peru | |
Disclosure of detailed information about financial instruments [line items] | |
Classification | 2 |
Derivative Instruments (adjusted to market) | $ 3,380 |
Deposits | |
Loans | |
Financial investments | |
Total Exposure | $ 3,380 |
Credit Risk [Member] | Foreign Derivative Contracts [Member] | Tailandia | |
Disclosure of detailed information about financial instruments [line items] | |
Classification | 2 |
Derivative Instruments (adjusted to market) | |
Deposits | |
Loans | 310 |
Financial investments | |
Total Exposure | $ 310 |
Credit Risk [Member] | Foreign Derivative Contracts [Member] | Turquia | |
Disclosure of detailed information about financial instruments [line items] | |
Classification | 3 |
Derivative Instruments (adjusted to market) | |
Deposits | |
Loans | 9,490 |
Financial investments | |
Total Exposure | $ 9,490 |
RISK MANAGEMENT (Details 6)
RISK MANAGEMENT (Details 6) - USD $ in Thousands | 12 Months Ended |
Dec. 31, 2017USD ($) | |
Disclosure of detailed information about financial instruments [line items] | |
Derivative Instruments (adjusted to market) | $ 4,010 |
Deposits | 2,390 |
Loans | 254,590 |
Financial investments | |
Total Exposure | $ 260,990 |
Credit Risk [Member] | Foreign Derivative Contracts [Member] | Banco Santander Spain [Member] | Spain | |
Disclosure of detailed information about financial instruments [line items] | |
Classification | 1 |
Derivative Instruments (adjusted to market) | $ 9,740 |
Deposits | 118,260 |
Loans | |
Financial investments | |
Total Exposure | $ 128,000 |
RISK MANAGEMENT (Details 7)
RISK MANAGEMENT (Details 7) - Credit Risk [Member] - CLP ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of financial assets [line items] | ||
Total | $ 21,770,452 | $ 20,075,307 |
Normal Portfolio [Member] | Properties/Mortgages [Member] | ||
Disclosure of financial assets [line items] | ||
Total | 19,508,151 | 17,560,550 |
Normal Portfolio [Member] | Investments & Others [Member] | ||
Disclosure of financial assets [line items] | ||
Total | 2,108,962 | 2,326,396 |
Impaired Portfolio [Member] | Properties/Mortgages [Member] | ||
Disclosure of financial assets [line items] | ||
Total | 152,252 | 186,297 |
Impaired Portfolio [Member] | Investments & Others [Member] | ||
Disclosure of financial assets [line items] | ||
Total | $ 1,087 | $ 2,064 |
RISK MANAGEMENT (Details 8)
RISK MANAGEMENT (Details 8) - Liquidity Risk [Member] - CLP ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of financial assets [line items] | |||
Total liquidity portfolio | $ 3,522,919 | $ 4,931,466 | |
Trading investments [Member] | |||
Disclosure of financial assets [line items] | |||
Total liquidity portfolio | 485,736 | 396,987 | |
Available for sale investments [Member] | |||
Disclosure of financial assets [line items] | |||
Total liquidity portfolio | 2,574,546 | 3,388,906 | |
Encumbered Assets (Net) [Member] | |||
Disclosure of financial assets [line items] | |||
Total liquidity portfolio | [1] | (268,330) | (205,703) |
Net Cash [Member] | |||
Disclosure of financial assets [line items] | |||
Total liquidity portfolio | [2] | (37,628) | 16,259 |
Net Interbank Deposits [Member] | |||
Disclosure of financial assets [line items] | |||
Total liquidity portfolio | [3] | $ 768,595 | $ 1,335,017 |
[1] | Assets encumbered through repurchase agreements are deducted from the liquidity portfolio. | ||
[2] | Cash minus reserve requirements. As is presented in Note 4 the reserve requirements are established by the monthly average reserves that the Bank must maintain in accordance with regulation governing minimum reserves. | ||
[3] | Includes overnight deposits in Central Bank, domestic banks and foreign banks. |
RISK MANAGEMENT (Details 9)
RISK MANAGEMENT (Details 9) - Liquidity Risk [Member] | Dec. 31, 2017 | Dec. 31, 2016 |
30 days foreign currency [Member] | ||
Disclosure of risk management strategy related to hedge accounting [line items] | ||
Percentages of exposure to liquidity risk | (22.00%) | 21.00% |
Not later than one month [member] | ||
Disclosure of risk management strategy related to hedge accounting [line items] | ||
Percentages of exposure to liquidity risk | (48.00%) | (15.00%) |
90 Days [Member] | ||
Disclosure of risk management strategy related to hedge accounting [line items] | ||
Percentages of exposure to liquidity risk | (51.00%) | (37.00%) |
RISK MANAGEMENT (Details 10)
RISK MANAGEMENT (Details 10) - Liquidity Risk [Member] - CLP ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Obligations under repurchase agreements [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | $ 268,061 | $ 212,437 |
Obligations under repurchase agreements [Member] | Demand [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | ||
Obligations under repurchase agreements [Member] | Not later than one month [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 268,061 | 212,437 |
Obligations under repurchase agreements [Member] | More than 3 months to 1 year [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | ||
Obligations under repurchase agreements [Member] | Later than one month and not later than three months [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | ||
Obligations under repurchase agreements [Member] | Due within 1 year [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 268,061 | 212,437 |
Obligations under repurchase agreements [Member] | Later than one year and not later than three years [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | ||
Obligations under repurchase agreements [Member] | Later than three years and not later than five years [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | ||
Obligations under repurchase agreements [Member] | Due after 5 years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | ||
Obligations under repurchase agreements [Member] | More than 1 Year [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | ||
Checking Accounts, Time Deposits & Other Time Liabilities [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 20,168,837 | 20,979,497 |
Checking Accounts, Time Deposits & Other Time Liabilities [Member] | Demand [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 8,376,371 | 7,949,315 |
Checking Accounts, Time Deposits & Other Time Liabilities [Member] | Not later than one month [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 5,120,171 | 6,105,767 |
Checking Accounts, Time Deposits & Other Time Liabilities [Member] | More than 3 months to 1 year [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 2,299,018 | 2,537,299 |
Checking Accounts, Time Deposits & Other Time Liabilities [Member] | Later than one month and not later than three months [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 4,201,271 | 4,193,906 |
Checking Accounts, Time Deposits & Other Time Liabilities [Member] | Due within 1 year [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 19,996,831 | 20,786,287 |
Checking Accounts, Time Deposits & Other Time Liabilities [Member] | Later than one year and not later than three years [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 106,833 | 118,101 |
Checking Accounts, Time Deposits & Other Time Liabilities [Member] | Later than three years and not later than five years [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 2,811 | 13,913 |
Checking Accounts, Time Deposits & Other Time Liabilities [Member] | Due after 5 years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 62,362 | 61,196 |
Checking Accounts, Time Deposits & Other Time Liabilities [Member] | More than 1 Year [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 172,006 | 193,210 |
Financial Derivatives Contracts [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 2,139,488 | 2,292,161 |
Financial Derivatives Contracts [Member] | Demand [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | ||
Financial Derivatives Contracts [Member] | Not later than one month [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 144,410 | 92,335 |
Financial Derivatives Contracts [Member] | More than 3 months to 1 year [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 356,288 | 263,893 |
Financial Derivatives Contracts [Member] | Later than one month and not later than three months [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 196,444 | 122,565 |
Financial Derivatives Contracts [Member] | Due within 1 year [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 697,142 | 478,793 |
Financial Derivatives Contracts [Member] | Later than one year and not later than three years [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 378,582 | 494,539 |
Financial Derivatives Contracts [Member] | Later than three years and not later than five years [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 358,358 | 346,948 |
Financial Derivatives Contracts [Member] | Due after 5 years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 705,406 | 971,881 |
Financial Derivatives Contracts [Member] | More than 1 Year [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 1,442,346 | 1,813,368 |
Interbank Borrowings [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 1,698,357 | 1,916,368 |
Interbank Borrowings [Member] | Demand [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 4,130 | 4,557 |
Interbank Borrowings [Member] | Not later than one month [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 46,013 | 373,423 |
Interbank Borrowings [Member] | More than 3 months to 1 year [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 1,030,241 | 1,154,063 |
Interbank Borrowings [Member] | Later than one month and not later than three months [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 397,419 | 115,769 |
Interbank Borrowings [Member] | Due within 1 year [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 1,477,803 | 1,647,812 |
Interbank Borrowings [Member] | Later than one year and not later than three years [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 220,554 | 233,542 |
Interbank Borrowings [Member] | Later than three years and not later than five years [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 35,014 | |
Interbank Borrowings [Member] | Due after 5 years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | ||
Interbank Borrowings [Member] | More than 1 Year [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 220,554 | 268,556 |
Issue debt instruments [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 7,093,653 | 7,326,372 |
Issue debt instruments [Member] | Demand [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | ||
Issue debt instruments [Member] | Not later than one month [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 21,043 | 43,141 |
Issue debt instruments [Member] | More than 3 months to 1 year [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 274,239 | 922,705 |
Issue debt instruments [Member] | Later than one month and not later than three months [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 55,119 | 185,425 |
Issue debt instruments [Member] | Due within 1 year [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 350,401 | 1,151,271 |
Issue debt instruments [Member] | Later than one year and not later than three years [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 1,727,571 | 1,168,117 |
Issue debt instruments [Member] | Later than three years and not later than five years [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 2,104,771 | 1,444,593 |
Issue debt instruments [Member] | Due after 5 years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 2,910,910 | 3,562,391 |
Issue debt instruments [Member] | More than 1 Year [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 6,743,252 | 6,175,101 |
Other financial liabilities [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 242,030 | 240,016 |
Other financial liabilities [Member] | Demand [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 177,663 | 153,049 |
Other financial liabilities [Member] | Not later than one month [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 701 | 1,461 |
Other financial liabilities [Member] | More than 3 months to 1 year [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 31,879 | 2,817 |
Other financial liabilities [Member] | Later than one month and not later than three months [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 2,583 | 1,161 |
Other financial liabilities [Member] | Due within 1 year [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 212,826 | 158,488 |
Other financial liabilities [Member] | Later than one year and not later than three years [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 27,581 | 58,641 |
Other financial liabilities [Member] | Later than three years and not later than five years [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 404 | 7,766 |
Other financial liabilities [Member] | Due after 5 years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 1,219 | 15,121 |
Other financial liabilities [Member] | More than 1 Year [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 29,204 | 81,528 |
Total Financial Liabilities Before Interest Payment [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 31,610,426 | 32,966,851 |
Total Financial Liabilities Before Interest Payment [Member] | Demand [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 8,558,164 | 8,106,921 |
Total Financial Liabilities Before Interest Payment [Member] | Not later than one month [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 5,600,399 | 6,828,564 |
Total Financial Liabilities Before Interest Payment [Member] | More than 3 months to 1 year [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 3,991,665 | 4,880,777 |
Total Financial Liabilities Before Interest Payment [Member] | Later than one month and not later than three months [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 4,852,836 | 4,618,826 |
Total Financial Liabilities Before Interest Payment [Member] | Due within 1 year [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 23,003,064 | 24,435,088 |
Total Financial Liabilities Before Interest Payment [Member] | Later than one year and not later than three years [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 2,461,121 | 2,072,940 |
Total Financial Liabilities Before Interest Payment [Member] | Later than three years and not later than five years [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 2,466,344 | 1,848,234 |
Total Financial Liabilities Before Interest Payment [Member] | Due after 5 years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 3,679,897 | 4,610,589 |
Total Financial Liabilities Before Interest Payment [Member] | More than 1 Year [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 8,607,362 | 8,531,763 |
Contractual Interest Payments [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 3,363,077 | 3,517,450 |
Contractual Interest Payments [Member] | Demand [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 4,403 | 2,273 |
Contractual Interest Payments [Member] | Not later than one month [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 45,465 | 56,121 |
Contractual Interest Payments [Member] | More than 3 months to 1 year [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 462,579 | 537,941 |
Contractual Interest Payments [Member] | Later than one month and not later than three months [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 117,779 | 170,861 |
Contractual Interest Payments [Member] | Due within 1 year [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 630,226 | 767,196 |
Contractual Interest Payments [Member] | Later than one year and not later than three years [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 808,502 | 1,762,884 |
Contractual Interest Payments [Member] | Later than three years and not later than five years [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 776,796 | |
Contractual Interest Payments [Member] | Due after 5 years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 1,147,553 | 987,370 |
Contractual Interest Payments [Member] | More than 1 Year [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 2,732,851 | 2,750,254 |
Total Financial Liabilities After Interest Payment [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 34,973,503 | 36,484,301 |
Total Financial Liabilities After Interest Payment [Member] | Demand [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 8,562,567 | 8,109,194 |
Total Financial Liabilities After Interest Payment [Member] | Not later than one month [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 5,645,864 | 6,884,685 |
Total Financial Liabilities After Interest Payment [Member] | More than 3 months to 1 year [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 4,454,244 | 5,418,718 |
Total Financial Liabilities After Interest Payment [Member] | Later than one month and not later than three months [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 4,970,615 | 4,789,687 |
Total Financial Liabilities After Interest Payment [Member] | Due within 1 year [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 23,633,290 | 25,202,284 |
Total Financial Liabilities After Interest Payment [Member] | Later than one year and not later than three years [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 3,269,623 | 3,835,824 |
Total Financial Liabilities After Interest Payment [Member] | Later than three years and not later than five years [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 3,243,140 | 1,848,234 |
Total Financial Liabilities After Interest Payment [Member] | Due after 5 years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | 4,827,450 | 5,597,959 |
Total Financial Liabilities After Interest Payment [Member] | More than 1 Year [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial Liabilities | $ 11,340,213 | $ 11,282,017 |
RISK MANAGEMENT (Details 11)
RISK MANAGEMENT (Details 11) - Liquidity Risk [Member] - Other Commercial Commitments [Member] - CLP ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of financial liabilities [line items] | ||
Financial liabilities | $ 2,182,569 | $ 2,079,050 |
Up To 1 Month [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 559,586 | 138,282 |
Between 1 and 3 Months [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 407,158 | 277,495 |
More than 3 months to 1 year [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 946,624 | 827,254 |
Between 1 and 5 Years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 247,941 | 684,584 |
Due after 5 years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 21,260 | 151,435 |
Guarantees [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 1,823,793 | 1,737,516 |
Guarantees [Member] | Up To 1 Month [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 514,510 | 79,457 |
Guarantees [Member] | Between 1 and 3 Months [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 244,543 | 175,437 |
Guarantees [Member] | More than 3 months to 1 year [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 835,030 | 739,170 |
Guarantees [Member] | Between 1 and 5 Years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 208,479 | 592,017 |
Guarantees [Member] | Due after 5 years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 21,231 | 151,435 |
Foreign Letters Of Credit Confirmed [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 75,499 | 57,686 |
Foreign Letters Of Credit Confirmed [Member] | Up To 1 Month [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 16,681 | 12,247 |
Foreign Letters Of Credit Confirmed [Member] | Between 1 and 3 Months [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 33,513 | 8,125 |
Foreign Letters Of Credit Confirmed [Member] | More than 3 months to 1 year [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 21,277 | 8,505 |
Foreign Letters Of Credit Confirmed [Member] | Between 1 and 5 Years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 4,028 | 28,809 |
Foreign Letters Of Credit Confirmed [Member] | Due after 5 years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | ||
Letters Of Credit Issued [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 201,699 | 158,799 |
Letters Of Credit Issued [Member] | Up To 1 Month [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 12,367 | 36,662 |
Letters Of Credit Issued [Member] | Between 1 and 3 Months [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 115,720 | 82,342 |
Letters Of Credit Issued [Member] | More than 3 months to 1 year [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 43,029 | 39,768 |
Letters Of Credit Issued [Member] | Between 1 and 5 Years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 30,554 | 27 |
Letters Of Credit Issued [Member] | Due after 5 years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 29 | |
Letters Of Credit Issued [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 81,578 | 125,049 |
Letters Of Credit Issued [Member] | Up To 1 Month [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 16,028 | 9,916 |
Letters Of Credit Issued [Member] | Between 1 and 3 Months [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 13,382 | 11,591 |
Letters Of Credit Issued [Member] | More than 3 months to 1 year [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 47,288 | 39,811 |
Letters Of Credit Issued [Member] | Between 1 and 5 Years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 4,880 | 63,731 |
Letters Of Credit Issued [Member] | Due after 5 years [Member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities |
RISK MANAGEMENT (Details 12)
RISK MANAGEMENT (Details 12) - Market Risk [Member] - USD $ in Thousands, $ in Thousands | Dec. 31, 2017CLP ($) | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) |
Consolidated [Member] | Top of Range [Member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | $ 5,710 | $ 3,950 | |
Consolidated [Member] | Bottom of Range [Member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | $ 1,560 | 1,080 | |
Consolidated [Member] | Weighted Average [Member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 3,010 | 2,250 | |
Fixed-Income Investments [Member] | Top of Range [Member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 5,510 | 2,710 | |
Fixed-Income Investments [Member] | Bottom of Range [Member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 1,150 | 550 | |
Fixed-Income Investments [Member] | Weighted Average [Member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 2,360 | 1,330 | |
Variable-Income Investments [Member] | Top of Range [Member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 10 | 30 | |
Variable-Income Investments [Member] | Bottom of Range [Member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 0 | 0 | |
Variable-Income Investments [Member] | Weighted Average [Member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 0 | 0 | |
Foreign Currency Investments [Member] | Top of Range [Member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 4,210 | 3,830 | |
Foreign Currency Investments [Member] | Bottom of Range [Member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | 530 | 610 | |
Foreign Currency Investments [Member] | Weighted Average [Member] | |||
Disclosure of detailed information about financial instruments [line items] | |||
Value at risk | $ 1,710 | $ 1,910 |
RISK MANAGEMENT (Details 13)
RISK MANAGEMENT (Details 13) - Market Risk [Member] - CLP ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Local Currency Investments [Member] | Loss Limit [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Effect on financial income | $ 48,000 | $ 48,000 |
Effect on capital | 175,000 | 175,000 |
Local Currency Investments [Member] | Top of Range [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Effect on financial income | (22,958) | 30,853 |
Effect on capital | (112,818) | 146,208 |
Local Currency Investments [Member] | Bottom of Range [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Effect on financial income | (37,148) | 21,978 |
Effect on capital | (141,287) | 108,249 |
Local Currency Investments [Member] | Weighted Average [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Effect on financial income | (29,110) | 26,119 |
Effect on capital | (128,506) | 120,159 |
Foreign Currency Investments [Member] | Loss Limit [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Effect on financial income | 30 | 30 |
Effect on capital | 75 | 75 |
Foreign Currency Investments [Member] | Top of Range [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Effect on financial income | 14 | 14 |
Effect on capital | 42 | 35 |
Foreign Currency Investments [Member] | Bottom of Range [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Effect on financial income | 6 | 6 |
Effect on capital | 15 | 13 |
Foreign Currency Investments [Member] | Weighted Average [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Effect on financial income | 10 | 10 |
Effect on capital | 23 | 26 |
Consolidated [Member] | Loss Limit [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Effect on financial income | 48,000 | 48,000 |
Effect on capital | 175,000 | 175,000 |
Consolidated [Member] | Top of Range [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Effect on financial income | (38,249) | 31,764 |
Effect on capital | (142,442) | 145,566 |
Consolidated [Member] | Bottom of Range [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Effect on financial income | (23,571) | 23,088 |
Effect on capital | (112,277) | 107,959 |
Consolidated [Member] | Weighted Average [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Effect on financial income | (29,948) | 27,390 |
Effect on capital | $ (128,360) | $ 119,632 |
RISK MANAGEMENT (Details 14)
RISK MANAGEMENT (Details 14) - Capital Risk [Member] - CLP ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure of risk management strategy related to hedge accounting [line items] | ||
Basic capital | $ 3,066,180 | $ 2,868,706 |
Regulatory capital | $ 3,881,252 | $ 3,657,707 |
Basic capital | 7.92% | 7.22% |
Regulatory capital | 13.91% | 13.43% |
SUBSEQUENT EVENTS (Details Narr
SUBSEQUENT EVENTS (Details Narrative) $ in Millions, in Millions | Feb. 06, 2018CLF ( ) | Feb. 01, 2018CLF ( ) | Dec. 31, 2017CLP ($) | Dec. 31, 2016CLP ($) |
Disclosure of financial liabilities [line items] | ||||
Notion amount | $ | $ 177,224,139 | $ 177,941,295 | ||
Non-adjusting Events After Reporting Period [Member] | Bonds [Member] | Unidad de Fomento (funds code) [Member] | T15 [Member] | ||||
Disclosure of financial liabilities [line items] | ||||
Notion amount | 5,000,000 | |||
Non-adjusting Events After Reporting Period [Member] | Bonds [Member] | Unidad de Fomento (funds code) [Member] | T11 [Member] | ||||
Disclosure of financial liabilities [line items] | ||||
Notion amount | 5,000,000 |