Document and Entity Information
Document and Entity Information | 12 Months Ended |
Dec. 31, 2019shares | |
Document and Entity Information [Abstract] | |
Entity Registrant Name | BANK OF CHILE |
Entity Central Index Key | 0001161125 |
Document Type | 20-F |
Document Period End Date | Dec. 31, 2019 |
Amendment Flag | false |
Current Fiscal Year End Date | --12-31 |
Entity Well-known Seasoned Issuer | Yes |
Entity Voluntary Filers | No |
Entity Current Reporting Status | Yes |
Entity Filer Category | Large Accelerated Filer |
Entity Emerging Growth Company | false |
Entity Shell Company | false |
Entity Common Stock, Shares Outstanding | 0 |
Document Fiscal Year Focus | 2019 |
Document Fiscal Period Focus | FY |
Entity Incorporation State Country Code | F3 |
Entity Interactive Data Current | Yes |
Document Annual Report | true |
Document Shell Company Report | false |
Document Transition Report | false |
Consolidated Statements of Fina
Consolidated Statements of Financial Position $ in Thousands, $ in Millions | Dec. 31, 2019USD ($) | Dec. 31, 2019CLP ($) | Dec. 31, 2018CLP ($) |
ASSETS | |||
Cash and due from banks | $ 2,392,166 | $ 880,081 | |
Transactions in the course of collection | 331,420 | 289,194 | |
Financial assets held-for-trading | 1,872,355 | 1,745,366 | |
Investment under resale agreements | 142,329 | 97,289 | |
Derivative instruments | 2,786,215 | 1,513,947 | |
Loans and advances to banks | 1,140,081 | 1,494,384 | |
Loans to customers at amortized cost | 29,384,039 | 27,341,254 | |
Financial assets at fair value through other comprehensive income | 1,366,343 | 1,053,191 | |
Investments in other companies | 48,442 | 42,252 | |
Intangible assets | 91,717 | 85,471 | |
Property and equipment | 220,262 | 215,872 | |
Leased assets | 150,665 | ||
Investments properties | 13,190 | 13,938 | |
Current tax assets | 357 | 677 | |
Deferred tax assets, net | 231,293 | 176,823 | |
Other assets | 843,000 | 651,691 | |
TOTAL ASSETS | 41,013,874 | 35,601,430 | |
LIABILITIES | |||
Current accounts and other demand deposits | 11,326,133 | 9,584,488 | |
Transactions in the course of payments | 98,869 | 44,436 | |
Obligations under repurchase agreements | 308,734 | 303,820 | |
Saving accounts and time deposits | 10,856,618 | 10,656,174 | |
Derivate instruments | 2,818,421 | 1,528,234 | |
Borrowings from financial institutions | 1,563,277 | 1,516,759 | |
Debt issued | 8,813,414 | 7,475,552 | |
Other financial obligations | 156,229 | 118,014 | |
Lease liabilities | 146,013 | ||
Current tax liabilities | 76,289 | 4,907 | |
Provisions | 203,374 | 203,946 | |
Employee benefits | 109,075 | 92,579 | |
Other liabilities | 631,667 | 398,805 | |
TOTAL LIABILITIES | 37,108,113 | 31,927,714 | |
EQUITY | |||
Capital | 2,418,833 | 2,418,833 | |
Reserves | 954,470 | 860,034 | |
Other comprehensive income | (44,101) | (28,334) | |
Retained earnings: | |||
Retained earnings from previous periods | 150,716 | (1,989) | |
Income for the year | 603,744 | 603,633 | |
Less: | |||
Provisions for minimum dividend | (177,902) | (178,462) | |
SUBTOTAL EQUITY | 3,905,760 | 3,673,715 | |
Non-controlling interest | 1 | 1 | |
TOTAL EQUITY | 3,905,761 | 3,673,716 | |
TOTAL LIABILITIES AND EQUITY | $ 41,013,874 | $ 35,601,430 | |
USD | |||
ASSETS | |||
Cash and due from banks | $ 3,181,580 | ||
Transactions in the course of collection | 440,787 | ||
Financial assets held-for-trading | 2,490,231 | ||
Investment under resale agreements | 189,298 | ||
Derivative instruments | 3,705,665 | ||
Loans and advances to banks | 1,516,307 | ||
Loans to customers at amortized cost | 39,080,756 | ||
Financial assets at fair value through other comprehensive income | 1,817,236 | ||
Investments in other companies | 64,428 | ||
Intangible assets | 121,984 | ||
Property and equipment | 292,948 | ||
Leased assets | 200,384 | ||
Investments properties | 17,543 | ||
Current tax assets | 475 | ||
Deferred tax assets, net | 307,620 | ||
Other assets | 1,121,190 | ||
TOTAL ASSETS | 54,548,432 | ||
LIABILITIES | |||
Current accounts and other demand deposits | 15,063,751 | ||
Transactions in the course of payments | 131,496 | ||
Obligations under repurchase agreements | 410,616 | ||
Saving accounts and time deposits | 14,439,296 | ||
Derivate instruments | 3,748,499 | ||
Borrowings from financial institutions | 2,079,158 | ||
Debt issued | 11,721,836 | ||
Other financial obligations | 207,785 | ||
Lease liabilities | 194,197 | ||
Current tax liabilities | 101,464 | ||
Provisions | 270,487 | ||
Employee benefits | 145,070 | ||
Other liabilities | 840,117 | ||
TOTAL LIABILITIES | 49,353,772 | ||
EQUITY | |||
Capital | 3,217,047 | ||
Reserves | 1,269,445 | ||
Other comprehensive income | (58,654) | ||
Retained earnings: | |||
Retained earnings from previous periods | 200,452 | ||
Income for the year | 802,979 | ||
Less: | |||
Provisions for minimum dividend | (236,610) | ||
SUBTOTAL EQUITY | 5,194,659 | ||
Non-controlling interest | 1 | ||
TOTAL EQUITY | 5,194,660 | ||
TOTAL LIABILITIES AND EQUITY | $ 54,548,432 |
Consolidated Statement of Incom
Consolidated Statement of Income $ in Thousands, $ in Millions | 12 Months Ended | |||
Dec. 31, 2019USD ($)$ / shares | Dec. 31, 2019CLP ($)$ / shares | Dec. 31, 2018CLP ($)$ / shares | Dec. 31, 2017CLP ($)$ / shares | |
STATEMENT OF INCOME | ||||
Interest revenue | $ 2,113,548 | $ 2,000,617 | $ 1,886,700 | |
Interest expense | (742,270) | (679,640) | (652,005) | |
Net interest income | 1,371,278 | 1,320,977 | 1,234,695 | |
Income from fees and commissions | 589,172 | 505,114 | 471,702 | |
Expense from fees and commissions | (131,870) | (145,159) | (124,028) | |
Net fees and commissions income | 457,302 | 359,955 | 347,674 | |
Net financial operating income | 113,437 | 117,142 | (29,661) | |
Foreign exchange transactions, net | 30,886 | 2,701 | 104,875 | |
Other operating income | 32,315 | 45,295 | 29,959 | |
Total operating revenues | 2,005,218 | 1,846,070 | 1,687,542 | |
Provision for loan losses | (331,601) | (249,771) | (221,255) | |
OPERATING REVENUES, NET OF PROVISIONS FOR LOAN LOSSES | 1,673,617 | 1,596,299 | 1,466,287 | |
Personnel expenses | (475,599) | (440,630) | (409,331) | |
Administrative expenses | (329,705) | (331,477) | (311,455) | |
Depreciation and amortization | (70,541) | (37,681) | (37,536) | |
Impairment property and equipment | (2,555) | (334) | (166) | |
Other operating expenses | (23,850) | (29,586) | (25,868) | |
TOTAL OPERATING EXPENSES | (902,250) | (839,708) | (784,356) | |
NET OPERATING INCOME | 771,367 | 756,591 | 681,931 | |
Income attributable to associates | 6,039 | 6,811 | 5,511 | |
Income before income taxes | 777,406 | 763,402 | 687,442 | |
Income taxes | (173,661) | (159,768) | (115,361) | |
NET INCOME FOR THE YEAR | 603,745 | 603,634 | 572,081 | |
Attributable to: | ||||
Equity holders of the parent | 603,744 | 603,633 | 572,080 | |
Non-controlling interest | $ 1 | $ 1 | $ 1 | |
Net income per share from continued operations attributable to equity holders of the parent: | ||||
Basic net income per share | $ / shares | $ 5.98 | $ 5.98 | $ 5.66 | |
Diluted net income per share | $ / shares | $ 5.98 | $ 5.98 | $ 5.66 | |
USD | ||||
STATEMENT OF INCOME | ||||
Interest revenue | $ 2,811,018 | |||
Interest expense | (987,219) | |||
Net interest income | 1,823,799 | |||
Income from fees and commissions | 783,598 | |||
Expense from fees and commissions | (175,387) | |||
Net fees and commissions income | 608,211 | |||
Net financial operating income | 150,871 | |||
Foreign exchange transactions, net | 41,078 | |||
Other operating income | 42,979 | |||
Total operating revenues | 2,666,938 | |||
Provision for loan losses | (441,029) | |||
OPERATING REVENUES, NET OF PROVISIONS FOR LOAN LOSSES | 2,225,909 | |||
Personnel expenses | (632,546) | |||
Administrative expenses | (438,507) | |||
Depreciation and amortization | (93,820) | |||
Impairment property and equipment | (3,398) | |||
Other operating expenses | (31,721) | |||
TOTAL OPERATING EXPENSES | (1,199,992) | |||
NET OPERATING INCOME | 1,025,917 | |||
Income attributable to associates | 8,032 | |||
Income before income taxes | 1,033,949 | |||
Income taxes | (230,969) | |||
NET INCOME FOR THE YEAR | 802,980 | |||
Attributable to: | ||||
Equity holders of the parent | 802,980 | |||
Non-controlling interest | $ 1,000 | |||
Net income per share from continued operations attributable to equity holders of the parent: | ||||
Basic net income per share | $ / shares | $ 0.01 | |||
Diluted net income per share | $ / shares | $ 0.01 |
Consolidated Statement of Other
Consolidated Statement of Other Comprehensive Income $ in Thousands, $ in Millions | 12 Months Ended | |||
Dec. 31, 2019USD ($) | Dec. 31, 2019CLP ($) | Dec. 31, 2018CLP ($) | Dec. 31, 2017CLP ($) | |
Statement Line Items [Line Items] | ||||
NET INCOME FOR THE YEAR | $ 603,745 | $ 603,634 | $ 572,081 | |
Other comprehensive income that will be reclassified subsequently to profit or loss | ||||
Net change in unrealized gains (losses) on financial instruments at fair value through OCI | 15,969 | (13,878) | 4,775 | |
Gains and losses on derivatives held as cash flow hedges | (37,546) | (30,943) | 14,979 | |
Cumulative translation adjustment | ||||
Subtotal Other comprehensive income before income taxes | (21,577) | (44,821) | 19,754 | |
Income tax | 5,810 | 12,112 | (5,120) | |
Total other comprehensive income items that will be reclassified subsequently to profit or loss | (15,767) | (32,709) | 14,634 | |
Other comprehensive income that will not be reclassified subsequently to profit or loss | ||||
Actuarial gains (losses) | (247) | (127) | 164 | |
Subtotal other comprehensive income before income taxes | (247) | (127) | 164 | |
Income taxes | 66 | 35 | (45) | |
Total other comprehensive income items that will not be reclassified subsequently to profit or loss | (181) | (92) | 119 | |
Subtotal other comprehensive income | (15,948) | (32,801) | 14,753 | |
TOTAL CONSOLIDATED COMPREHENSIVE INCOME | 587,797 | 570,833 | 586,834 | |
Attributable to: | ||||
Equity holders of the parent | 587,796 | 570,832 | 586,833 | |
Non-controlling interest | $ 1 | $ 1 | $ 1 | |
USD | ||||
Statement Line Items [Line Items] | ||||
NET INCOME FOR THE YEAR | $ 802,980 | |||
Other comprehensive income that will be reclassified subsequently to profit or loss | ||||
Net change in unrealized gains (losses) on financial instruments at fair value through OCI | 21,239 | |||
Gains and losses on derivatives held as cash flow hedges | (49,936) | |||
Cumulative translation adjustment | ||||
Subtotal Other comprehensive income before income taxes | (28,697) | |||
Income tax | 7,727 | |||
Total other comprehensive income items that will be reclassified subsequently to profit or loss | (20,970) | |||
Other comprehensive income that will not be reclassified subsequently to profit or loss | ||||
Actuarial gains (losses) | (329) | |||
Subtotal other comprehensive income before income taxes | (329) | |||
Income taxes | 88 | |||
Total other comprehensive income items that will not be reclassified subsequently to profit or loss | (241) | |||
Subtotal other comprehensive income | (21,211) | |||
TOTAL CONSOLIDATED COMPREHENSIVE INCOME | 781,769 | |||
Attributable to: | ||||
Equity holders of the parent | 781,768 | |||
Non-controlling interest | $ 1 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Equity - CLP ($) $ in Millions | Paid-in capital | Other reserves | Reserves from earnings | Unrealized gains (losses) on financial assets at FV through OCI | Cumulative translation adjustment | Cash flow hedge adjustment | Retained earnings from previous periods | Income for the year | Provision for minimum dividends | Attributable to equity holders of the parent | Non-controlling interest | Total |
Balance at beginning of period at Dec. 31, 2016 | $ 2,138,047 | $ 98,970 | $ 610,801 | $ 6,045 | $ (20,552) | $ 64,986 | $ 575,051 | $ (165,675) | $ 3,307,673 | $ 1 | $ 3,307,674 | |
Capitalization of retained earnings | 133,354 | (133,354) | ||||||||||
Retention (release) earnings | 99,663 | (99,663) | ||||||||||
Defined benefit plans adjustment | 123 | 123 | 123 | |||||||||
Dividends distributions and paid | (342,034) | 165,675 | (176,359) | (1) | (176,360) | |||||||
Valuation adjustment on financial assets at FV through OCI (net) | 3,476 | 3,476 | 3,476 | |||||||||
Cash flow hedge adjustment, net | 11,158 | 11,158 | 11,158 | |||||||||
Income for the year | 572,080 | 572,080 | 1 | 572,081 | ||||||||
Provision for minimum dividends | (172,804) | (172,804) | (172,804) | |||||||||
Balance at end of period at Dec. 31, 2017 | 2,271,401 | 99,093 | 710,464 | 9,521 | (9,394) | 64,986 | 572,080 | (172,804) | 3,545,347 | 1 | 3,545,347 | |
Impact of adopting IFRS 9 | 4,249 | (66,975) | (62,726) | (62,726) | ||||||||
Restated balances | 2,271,401 | 99,093 | 710,464 | 13,770 | (9,394) | (1,989) | 572,080 | (172,804) | 3,482,621 | 1 | 3,482,622 | |
Capitalization of retained earnings | 147,432 | (147,432) | ||||||||||
Retention (release) earnings | 50,569 | (50,569) | ||||||||||
Defined benefit plans adjustment | (92) | (92) | (92) | |||||||||
Dividends distributions and paid | (374,079) | 172,804 | (201,275) | (1) | (201,276) | |||||||
Valuation adjustment on financial assets at FV through OCI (net) | (10,121) | (10,121) | (10,121) | |||||||||
Cash flow hedge adjustment, net | (22,589) | (22,589) | (22,589) | |||||||||
Income for the year | 603,633 | 603,633 | 1 | 603,634 | ||||||||
Provision for minimum dividends | (178,462) | (178,462) | (178,462) | |||||||||
Balance at end of period at Dec. 31, 2018 | 2,418,833 | 99,001 | 761,033 | 3,649 | (31,983) | (1,989) | 603,633 | (178,462) | 3,673,715 | 1 | 3,673,716 | |
Restated balances | 2,418,833 | 99,001 | 761,033 | 3,649 | (31,983) | (1,989) | 603,633 | (178,462) | 3,673,715 | 1 | 3,673,716 | |
Capitalization of retained earnings | 152,705 | (152,705) | ||||||||||
Retention (release) earnings | 94,617 | (94,617) | ||||||||||
Defined benefit plans adjustment | (181) | (181) | (181) | |||||||||
Dividends distributions and paid | (356,311) | 178,462 | (177,849) | (1) | (177,850) | |||||||
Valuation adjustment on financial assets at FV through OCI (net) | 11,641 | 11,641 | 11,641 | |||||||||
Cash flow hedge adjustment, net | (27,408) | (27,408) | (27,408) | |||||||||
Income for the year | 603,744 | 603,744 | 1 | 603,745 | ||||||||
Provision for minimum dividends | (177,902) | (177,902) | (177,902) | |||||||||
Balance at end of period at Dec. 31, 2019 | $ 2,418,833 | $ 98,820 | $ 855,650 | $ 15,290 | $ (59,391) | $ 150,716 | $ 603,744 | $ (177,902) | $ 3,905,760 | $ 1 | $ 3,905,761 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows $ in Thousands, $ in Millions | 12 Months Ended | |||
Dec. 31, 2019USD ($) | Dec. 31, 2019CLP ($) | Dec. 31, 2018CLP ($) | Dec. 31, 2017CLP ($) | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||||
Net income for the year | $ 603,745 | $ 603,634 | $ 572,081 | |
Items that do not represent cash flows: | ||||
Depreciation and amortization | 70,541 | 37,681 | 37,536 | |
Impairment property and equipment | 2,555 | 334 | 166 | |
Provision for loan losses | 376,153 | 309,861 | 271,442 | |
Provisions for contingent loan risks | (45) | 2,041 | (710) | |
Fair value adjustment of financial assets held-for-trading | 294 | (663) | 1,614 | |
Provision for deferred income taxes | (58,733) | 11,435 | 14,314 | |
Income attributable to associates | (6,039) | (6,811) | (5,511) | |
Net gain on sales of assets received in lieu of payment | (2,560) | (3,650) | (1,941) | |
Net gain loss on sales of property and equipment | (90) | (3,632) | (623) | |
Other charges (credits) to income that do not represent cash flows | 9,477 | (4,990) | 543 | |
Net changes in exchange rate, interest and fees accrued on assets and liabilities | 146,774 | 43,982 | (15,920) | |
Changes in assets and liabilities that affect operating cash flows: | ||||
(Increase) decrease in loans and advances to banks, net | 354,308 | (734,330) | 413,570 | |
(Increase) decrease in loans to customers at amortized cost | (2,342,112) | (2,686,038) | (462,358) | |
(Increase) decrease in financial assets held-for-trading, net | 149,292 | (121,167) | (110,935) | |
(Increase) decrease in other assets and liabilities | 129,119 | (155,624) | 12,958 | |
Increase (decrease) in current accounts and other demand deposits | 1,738,840 | 668,521 | 594,306 | |
Increase (decrease) in transactions from reverse repurchase agreements | 1,711 | 98,570 | (20,474) | |
Increase (decrease) in saving accounts and time deposits | 184,946 | 579,827 | (441,174) | |
Proceeds from sale of assets received in lieu of payment | 30,795 | 26,274 | 13,679 | |
Total cash flows from operating activities | 1,388,971 | (1,334,745) | 872,563 | |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||||
(Increase) decrease in financial assets at fair value through other comprehensive income | (301,175) | 464,060 | (1,142,796) | |
Payments for lease agreements | (29,374) | |||
Net changes in leased assets | (1,725) | |||
Purchases of property and equipment | (43,512) | (28,065) | (23,224) | |
Proceeds from sales of property and equipment | 92 | 3,640 | 652 | |
Purchases of intangible assets | (20,928) | (23,512) | (18,779) | |
Investments in other companies | (671) | |||
Dividends received from investments in other companies | 552 | 411 | 484 | |
Total cash flows from investing activities | (396,741) | 416,534 | (1,183,663) | |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||||
Repayment of mortgage financial bonds | (3,268) | (4,388) | (5,818) | |
Proceeds from bond issuances | 2,625,176 | 2,157,587 | 1,399,001 | |
Redemption from bond issuances | (1,546,572) | (1,436,232) | (1,024,758) | |
Dividends paid | (356,311) | (374,079) | (342,034) | |
Increase (decrease) in borrowings from foreign financial institutions | 44,755 | 320,635 | 154,552 | |
Increase (decrease) in other financial obligations | 42,664 | (8,753) | (44,938) | |
Increase (decrease) in borrowings from Central Bank of Chile | (1) | (2) | ||
Other long-term borrowings | 15 | 8 | ||
Payment of other long-term borrowings | (4,005) | (9,814) | (3,349) | |
Total cash flows from financing activities | 802,439 | 644,970 | 132,662 | |
TOTAL NET POSITIVE (NEGATIVE) CASH FLOWS FOR THE YEAR | 1,794,669 | (273,241) | (178,438) | |
Net effect of exchange rate changes on cash and cash equivalents | 34,299 | 116,121 | (38,374) | |
Cash and cash equivalents at beginning of year | 1,281,278 | 1,438,398 | 1,655,210 | |
Cash and cash equivalents at end of year | 3,110,246 | 1,281,278 | 1,438,398 | |
Cash received (paid ) during the year for: | ||||
Income taxes (paid) received | (6,514) | 20,513 | 13,851 | |
Interest received | 2,010,563 | 1,881,766 | 1,928,523 | |
Interest paid | $ (460,115) | $ (400,686) | $ (753,379) | |
USD | ||||
CASH FLOWS FROM OPERATING ACTIVITIES: | ||||
Net income for the year | $ 802,980 | |||
Items that do not represent cash flows: | ||||
Depreciation and amortization | 93,819 | |||
Impairment property and equipment | 3,398 | |||
Provision for loan losses | 500,283 | |||
Provisions for contingent loan risks | (60) | |||
Fair value adjustment of financial assets held-for-trading | 391 | |||
Provision for deferred income taxes | (78,115,000) | |||
Income attributable to associates | (8,032) | |||
Net gain on sales of assets received in lieu of payment | (3,405) | |||
Net gain loss on sales of property and equipment | (120) | |||
Other charges (credits) to income that do not represent cash flows | 12,604 | |||
Net changes in exchange rate, interest and fees accrued on assets and liabilities | 195,209 | |||
Changes in assets and liabilities that affect operating cash flows: | ||||
(Increase) decrease in loans and advances to banks, net | 471,229 | |||
(Increase) decrease in loans to customers at amortized cost | (3,115,008) | |||
(Increase) decrease in financial assets held-for-trading, net | 198,558 | |||
(Increase) decrease in other assets and liabilities | 171,729,000 | |||
Increase (decrease) in current accounts and other demand deposits | 2,312,656 | |||
Increase (decrease) in transactions from reverse repurchase agreements | 2,276 | |||
Increase (decrease) in saving accounts and time deposits | 245,978 | |||
Proceeds from sale of assets received in lieu of payment | 40,957 | |||
Total cash flows from operating activities | 1,847,327 | |||
CASH FLOWS FROM INVESTING ACTIVITIES: | ||||
(Increase) decrease in financial assets at fair value through other comprehensive income | (400,563) | |||
Payments for lease agreements | (39,067) | |||
Net changes in leased assets | (2,294) | |||
Purchases of property and equipment | (57,871) | |||
Proceeds from sales of property and equipment | 122 | |||
Purchases of intangible assets | (27,834) | |||
Investments in other companies | (892) | |||
Dividends received from investments in other companies | 734 | |||
Total cash flows from investing activities | (527,665) | |||
CASH FLOWS FROM FINANCING ACTIVITIES: | ||||
Repayment of mortgage financial bonds | (4,346) | |||
Proceeds from bond issuances | 3,491,483 | |||
Redemption from bond issuances | (2,056,940) | |||
Dividends paid | (473,893) | |||
Increase (decrease) in borrowings from foreign financial institutions | 59,524 | |||
Increase (decrease) in other financial obligations | 56,743 | |||
Increase (decrease) in borrowings from Central Bank of Chile | ||||
Other long-term borrowings | ||||
Payment of other long-term borrowings | (5,326) | |||
Total cash flows from financing activities | 1,067,245 | |||
TOTAL NET POSITIVE (NEGATIVE) CASH FLOWS FOR THE YEAR | 2,386,907 | |||
Net effect of exchange rate changes on cash and cash equivalents | 45,618 | |||
Cash and cash equivalents at beginning of year | 1,704,099 | |||
Cash and cash equivalents at end of year | 4,136,624 | |||
Cash received (paid ) during the year for: | ||||
Income taxes (paid) received | (8,664) | |||
Interest received | 2,674,048 | |||
Interest paid | $ (611,953) |
Company Information
Company Information | 12 Months Ended |
Dec. 31, 2019 | |
Company Information [abstract] | |
Company Information | 1. Banco de Chile, resulting from the merger of Banco Nacional de Chile, Banco Agrícola and Banco de Valparaíso, was formed on October 28, 1893 in the city of Santiago, in the presence of the Notary Eduardo Reyes Lavalle. Banco de Chile ("Banco de Chile" or the "Bank") is a Corporation organized under the laws of the Republic of Chile, regulated by the Commission for Financial Market ("CMF"). Banco de Chile also complies with the regulations published by the United States Securities and Exchange Commission ("SEC") from which the Bank is also subject to its supervision since 2001, due to its registration in the New York Stock Exchange ("NYSE") through its American Depositary Receipt ("ADR") program. Banco de Chile offers a broad range of banking services to its customers, ranging from individuals to large corporations. Additionally, the Bank offers international as well as treasury banking services. The Bank's subsidiaries provide other services including securities brokerage, mutual fund management, factoring, insurance brokerage, financial advisory and securitization. Banco de Chile's legal address is Ahumada 251, Santiago, Chile and its website is www.bancochile.cl. The consolidated financial statements of the Bank for the year ended December 31, 2019 were authorized for issuance in accordance with the directors' resolution on April 29, 2020. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2019 | |
Summary of Significant Accounting Policies [abstract] | |
Summary of Significant Accounting Policies | 2. (a) Basis of preparation: The Bank's consolidated financial statements for the years 2017, 2018 and 2019 have been prepared in accordance with International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board ("IASB"). The Bank presents its statement of financial position broadly in order of liquidity. An analysis regarding recovery or settlement is presented in note No. 41. The consolidated financial statements comprise the consolidated statement of comprehensive income and the consolidated statements of financial position, changes in equity, cash flows and the related notes. The consolidated financial statements have been prepared under the historical cost convention, except for financial assets at fair value through other comprehensive income, financial assets held for trading measured at fair value through profit or loss and derivative contracts, which have been measured at fair value. The consolidated statement of cash flows shows the changes in cash and cash equivalents arising from operating activities, investing activities and financing activities during the period. (b) Basis of consolidation: The financial statements of Banco de Chile as of and for the years ended December 31, 2018 and 2019 have been consolidated with those of its subsidiaries. The financial statements of the bank's subsidiaries are prepared for the same reporting year as for Banco de Chile, using consistent accounting policies. (i) Subsidiaries Consolidated financial statements as of December 31, 2018 and 2019 incorporate financial statements of the Bank and its subsidiaries. According IFRS 10 –"Consolidated Financial Statements", control requires exposure or rights to variable returns and the ability to affect those returns through power over an investee. Specifically the Bank has power over the investee when it has existing rights that give it the ability to direct the relevant activities of the investee. When the Bank has less than a majority of the voting rights of an investee, but these voting rights are enough to have the ability to direct the relevant activities unilaterally, then the Bank has control. The Bank considers all factors and relevant circumstances to evaluate if its voting rights are enough to obtain control, which includes: ● The amount of voting rights that the Bank has, related to the amount of voting rights of the other stakeholders. ● Potential voting rights maintained by the Bank, other holders of voting rights or other parties. ● Rights that emanated from other contractual arrangements. ● Any additional circumstance that indicate that the Bank has or does not have the ability to manage the relevant activities when decisions need to be made, including voting behavior patterns in previous shareholders meetings. The financial statements of the subsidiaries are included in the consolidated financial statements from the date control is obtained until the loss of such control. The financial statements have been prepared using uniform accounting policies for similar transactions and other events under equivalent circumstances. The following table details the entities in which the Bank, directly or indirectly – owns a controlling interest and that are therefore consolidated in these financial statements: Functional Interest Owned RUT Subsidiaries Country Currency Direct Indirect Total 2018 2019 2018 2019 2018 2019 % % % % % % 96,767,630-6 Banchile Administradora General de Fondos S.A. Chile Ch$ 99.98 99.98 0.02 0.02 100.00 100.00 96,543,250-7 Banchile Asesoría Financiera S.A. Chile Ch$ 99.96 99.96 — — 99.96 99.96 77,191,070-K Banchile Corredores de Seguros Ltda. Chile Ch$ 99.83 99.83 0.17 0.17 100.00 100.00 96,571,220-8 Banchile Corredores de Bolsa S.A. Chile Ch$ 99.70 99.70 0.30 0.30 100.00 100.00 96,932,010-K Banchile Securitizadora S.A. Chile Ch$ 99.01 99.01 0.99 0.99 100.00 100.00 96,645,790-2 Socofin S.A. Chile Ch$ 99.00 99.00 1.00 1.00 100.00 100.00 Intercompany transactions and balances between the Bank and its subsidiaries and among its subsidiaries have been eliminated for consolidation purposes. Any non-controlling interest is recognized as a separate item within the Bank's consolidated equity. (ii) Investment in Associates and Joint Ventures Associates An associate is an entity over which the Bank has significant influence on its operating and financial management policy decisions, without having control over the associate. Significant influence is generally presumed when the Bank holds between 20% and 50% of the voting rights. Other factors considered when determining whether the Bank has significant influence over another entity are the representation on the Board of Directors and the existence of material intercompany transactions. The existence of these factors could determine the existence of significant influence over an entity despite the Bank holding a participation of less than 20% of the entity's voting rights. According to the equity method, the Bank's investments in an associate are initially recorded at cost, and subsequently increased (or decreased) to reflect both the Bank's pro rata share of the post-acquisition net income (or loss) of the associate and other movements directly recognized in the associate's equity. Goodwill arising from the acquisition of an associate is included in the carrying value of the investment (net of any accumulated impairment loss). Since goodwill is not reported separately, an associate is not tested individually for impairment. Rather, the entire investment is tested for impairment as described below. After the application of the equity method, the Bank determines whether it is necessary to recognize impairment loss on the Bank's investment in an associate. The Bank determines at each reporting date whether there is objective evidence, considering information from internal and external sources, that the investment in the associate is impaired. If this is the case, the Bank calculates the amount of impairment as the difference between the recoverable amount of the associate and its carrying value and recognizes the amount in its income statement under the line "Income attributable to associates". Joint Ventures Joint Ventures are joint arrangements whereby the parties to the agreement that have joint control over the arrangement have rights to the net assets covered by the arrangement. Joint control exists only when decisions about the relevant activities covered by the arrangement require the unanimous consent of the parties sharing control in the agreement. According to IFRS 11, an entity shall determine the type of joint arrangement: "Joint Operation" or "Joint Venture". For investments defined as a "Joint Operation", the assets, liabilities, income and expenses are recognized by the participation in the joint operation. Investments defined as a "Joint Venture" will be registered according to the equity method. Investments in other companies that, for their characteristics, are defined as "Joint Ventures" include the following: ● Artikos Chile S.A. ● Servipag Ltda. (iii) Structured entities Special purpose entities ("SPEs") are generally created to comply with a specific and well-defined objective, such as securitizing specific assets or carrying out a specific loan transaction. An SPE is consolidated if, based on an assessment of its relationship with the Bank and the risks and benefits over the SPE, the Bank concludes that it has control of the SPE. As of December 31, 2018 and 2019, the Bank does not control and therefore does not consolidate any SPEs. (iv) Asset management services investments and mutual funds The Bank, through its subsidiary Banchile Administradora General de Fondos S.A., manages assets through investment and mutual funds and other investment products on behalf of investors. According to IFRS 10, for consolidation purposes, it is necessary to evaluate the role of the Bank and its subsidiaries in the funds that it manages, determining its role of Agent or Principal. When assessing whether an investor controls an investee, an investor with decision-making rights must determine whether it acts as a Principal or as an Agent for other parties. A number of factors are considered in making this assessment, including the following: ● Scope to make decision over the investee. ● Rights held by other parties. ● Remuneration according to compensation arrangements. ● Exposition of the decision maker to the variability of returns from other interests that keeps the investee. The Bank and its subsidiaries manage investments and mutual funds on behalf and for the benefit of investors, acting only as an Agent in this relationship. Under this category, and as per the aforementioned rule, these funds are not controlled and therefore not consolidated by the Bank or its subsidiaries. (c) Non-controlling interest: Non-controlling interest represents the share of losses, income and net assets that the Bank does not control, either directly or indirectly. It is presented as a separate item in the Consolidated Statement of Comprehensive Income and the Consolidated Statement of Financial Position. (d) Going Concern: The Bank's management has made an assessment of its ability to continue as a going concern and is satisfied that it has the resources to continue in business for the foreseeable future. Furthermore, management is not aware of any material uncertainties that may cast significant doubt upon the Bank's ability to continue as a going concern. Therefore, the financial statements continue to be prepared on the going concern basis. (e) Presentation and functional currency: The items included in the financial statements of each of the entities of Banco de Chile and its subsidiaries are valued using the currency of the primary economic environment in which it operates (functional currency). The functional currency of Banco de Chile is the Chilean peso, which is also the currency used to present the entity's consolidated financial statements. (f) Transactions in foreign currency: Transactions in currencies other than the functional currency are considered to be in foreign currency and are initially recorded at the exchange rate of the functional currency on the transaction date. Monetary assets and liabilities denominated in foreign currencies are converted using the exchange rate of the functional currency as of the date of the Statement of Financial Position, for profit or loss the exchange rate corresponding to each month-end is applied. All differences are recorded as a charge or credit to income. Assets and liabilities in foreign currencies are shown at their equivalent value in Chilean pesos, calculated using the following exchange rates as of December 31, 2018 and 2019: Ch$693.60 and Ch$751.88 to US$1, Ch$6.29 and Ch$6.91 per JPY1, Ch$793.96 and Ch$843.31 per EUR1. The gain of MCh$30,886 (MCh$2,701 in 2018) for net foreign exchange income shown in the Consolidated Statement of Income includes recognition of the effects of exchange rates variations on assets and liabilities in foreign currency or indexed to exchange rates, and the result of foreign exchange transactions conducted by the Bank and its subsidiaries. (g) Use of estimates and judgment: Preparing Consolidated Financial Statements requires management to make judgments, estimations and assumptions that affect the application of accounting policies and the valuation of assets, liabilities, income and expenses presented. Actual results could differ from these estimated amounts. Relevant estimates and assumptions are reviewed regularly by senior management in order to quantify certain assets, liabilities, income, expenses and uncertainties. Revisions to accounting estimates are recognized in the year in which the estimate is revised and for any future period that is affected. Some accounting matters particularly involve uncertainties and therefore require a considerable degree of estimation and critical judgment when applying accounting policies. Details on the use of estimates and judgment and their effect on the amounts recognized in the financial statements are included in the following notes: - Impairment of loans (Notes No. 10, No. 11 and No. 33) - Impairment of instruments at fair value through OCI (Note No. 12) - Impairment of contingent loan risks (Note No. 24) - Useful lives of intangible assets, property and equipment and leased assets and lease liabilities and investment properties (Notes No. 14, No. 15 and No. 16) - Goodwill valuation (Note No. 14) - Deferred taxes and income taxes (Note No. 17) - Provisions (Note No. 24) - Employee benefits (Note No. 25) - Commitments and contingencies (Note No. 27) - Fair value of financial assets and liabilities (Note No. 40) (h) Financial asset and liability valuation criteria: Measurement is the process of determining the monetary amounts at which the elements of the financial statements are to be recognized and carried in the Consolidated Statement of Financial Position and the Consolidated Statement of Other Comprehensive Income. This involves selecting the particular basis or method of measurement. These bases or methods include the following: (i) Initial recognition The Bank and its subsidiaries recognize loans to customers, trading and investment securities, deposits, debt issued and subordinated liabilities on the date they originated. Purchases and sales of financial assets performed on a regular basis are recognized as of the trade date on which the Bank committed to purchase or sell the asset. All other assets and liabilities (including assets and liabilities at fair value through profit or loss) are initially recognized as of the trade date on which the Bank becomes a party to the contractual provisions of the instrument. Financial assets or liabilities are initially recognized at fair value plus transaction costs directly attributable to their purchase or issuance, except in the case of financial assets and financial liabilities recorded at fair value through profit or loss (FVPL). (ii) Derecognition of financial assets and liabilities The Bank and its subsidiaries derecognize a financial asset (or where applicable, part of a financial asset) from its Statement of Financial Position when the contractual rights to the cash flows of the financial asset have expired or when the contractual rights to receive the cash flows of the financial asset are transferred during a transaction in which all ownership risks and rewards of the financial asset are transferred. Any portion of transferred financial assets that is created or retained by the Bank is recognized as a separate asset or liability. When the Bank transfers a financial asset, it assesses to what extent it has retained the risks and rewards of ownership. In this case: (a) If substantially all risks and rewards of ownership of the financial asset have been transferred, it is derecognized and any rights or obligations created or retained upon transfer are recognized separately as assets or liabilities. (b) If substantially all risks and rewards of ownership of the financial asset have been retained, the Bank continues to recognize it. (c) If substantially all risks and rewards of ownership of the financial asset are neither transferred nor retained, the Bank will determine if it has retained control of the financial asset. In this case: (c.i) If it has not retained control, the financial asset will be derecognized and any rights or obligations created or retained upon transfer will be recognized separately as assets or liabilities. (c.ii) If the entity has retained control, it will continue to recognize the financial asset to the extent of its continuing involvement in the financial asset. A financial liability is derecognized when the obligation under the liability is discharged or canceled or expires. If an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of the existing liability are substantially modified, such an exchange or modification is treated as a derecognition of the original liability and the recognition of a new liability, and the difference in the respective carrying amounts is recognized in the income statement. (iii) Offsetting Financial assets and liabilities are offset and the net amount is reported in the Statement of Financial Position if, and only if, the Bank has the legally enforceable right to set off the recognized amounts and there is an intention to settle on a net basis or to realize an asset and settle the liability simultaneously. Income and expenses are shown net only if accounting standards allow such treatment, or in the case of gains and losses arising from a group of similar transactions, such as the Bank's trading activities. (iv) Measurement categories of financial assets and liabilities The Bank classifies all of its financial assets based on the business model for managing these assets and each asset's contractual terms, measured at either amortized cost, fair value through other comprehensive income (FVOCI) or fair value through profit or loss (FVPL). The Bank classifies and measures its trading portfolio at FVPL as explained in Note No. 2 (i) (ii). The Bank may designate financial instruments at FVPL, if such designation eliminates or significantly reduces measurement or recognition inconsistencies. Financial liabilities, other than loan commitments and financial guarantees, are measured at amortized cost or at FVPL when they are held for trading and derivative instruments or the fair value designation is applied. Fair value measurements The fair value of a financial instrument is the price that would be received to sell an asset or that would be paid to transfer a liability in an orderly transaction between participants in a main market (or more advantageous) at the measurement date under current market conditions, regardless of whether that price is directly observable or estimated using another valuation technique. The most objective and common fair value is the price that you would pay on an active, transparent and deep market ("quoted price" or "market price"). When available, the Bank estimates the fair value of an instrument using quoted prices in an active market for that instrument. A market is considered active if quoted prices are readily and regularly available and represent actual and regularly occurring market transactions on an arm's length basis. If a market for a financial instrument is not active, the Bank establishes fair value using a valuation technique. These valuation techniques include the use of recent market transactions between interested and duly informed parties that act in mutual independence conditions, if available, as well as references to the fair value of other instruments that are substantially the same, discounted cash flows and options pricing models. The chosen valuation technique uses the maximum observable market data, relies as little as possible on estimates performed by the Bank, incorporates factors that market participants would consider in setting a price and is consistent with accepted economic methodologies for pricing financial instruments. Inputs into the valuation technique reasonably represent market expectations and include risk and return factors that are inherent in the financial instrument. Periodically, the Bank calibrates the valuation techniques and tests them for validity using prices from observable current market transactions in the same instrument or based on any available observable market data. The best evidence of the fair value of a financial instrument at initial recognition is the transaction price (i.e., the fair value of the consideration given or received) unless the fair value of that instrument is evidenced by a comparison with other observable current market transactions in the same instrument (i.e., without modification or repackaging) or based on a valuation technique whose variables include only data from observable markets. When the transaction price provides the best evidence of fair value at initial recognition, the financial instrument is initially measured at the transaction price and any difference between this price and the value initially obtained from a valuation model is subsequently recognized in incomes. Fair value estimates obtained from models are adjusted for any other factors, such as model uncertainties, to the extent that the Bank believes that a third-party market participant would take them into account in pricing a transaction. The Bank's fair value disclosures are included in Note No. 40. (i) Financial assets and liabilities per financial statement line items: (i) Due from banks, Loans to customers, Financial investments at amortized cost Before January 1, 2018, due from banks and loans to customers include non–derivative financial assets with fixed or determinable payments, such as domestic banks and foreign banks including the Chilean Central Bank. After initial measurement, amounts of due from banks and loans to customers are subsequently measured at amortized cost using the effective interest rate (EIR), less allowances for impairment. Amortized cost was calculated by taking into account any discount or premium on acquisition and fees and costs that are an integral part of the EIR. The amortization was included in interest revenue in the income statement. The losses arising from impairment were recognized in the income statement in provisions for loan losses. From January 1, 2018, the Bank continues measuring due from banks, loans to customers and other financial investments at amortized cost as long as the following conditions are met: - The financial asset is held within a business model whose objective is to hold financial assets in order to collect contractual cash flows from them. - The contractual terms of the financial asset give rise on specified dates on which cash flows are to be received and such cash flows are solely payments of principal and interest (SPPI) on the principal amount outstanding. (ii) Financial assets held-for-trading Financial assets held-for-trading are securities acquired in order to generate profits from short-term price fluctuations or as a result of brokerage activities, or which are part of a portfolio on which a short-term profit-generating pattern exists. This item includes mainly Central Bank bonds and deposits from domestic banks. Financial assets held-for-trading are stated at their fair value. Accrued interest, gains or losses from their fair market value adjustments, as well as gains or losses from trading activities, are included in "Net financial operating income" in the Consolidated Statement of Comprehensive Income. Dividends, interest and indexations are reported as "Net financial operating income" in the Consolidated Statement of Comprehensive Income. All purchases and sales of financial assets held-for-trading that must be executed within the period established by market regulations or conventions are recorded using the trade date, which is the date on which the purchase or sale of the asset is committed. Any other purchase or sale is treated as a derivative (forward) until settlement occurs. (iii) Financial assets at FVOCI (iii.1) Debt instruments at FVOCI The Bank applies the new category under IFRS 9 of debt instruments measured through FVOCI when both of the following conditions are met: - The instrument is held within a business model whose, objective is to collect contractual cash flows and sell financial assets. - The contractual terms of the financial asset meet the SPPI test (described above). FVOCI debt instruments are measured at fair value with gains and losses arising due to changes in fair value are recognized in Other Comprehensive Income (OCI). Interest income and foreign exchange gains and losses are recognized in profit or loss. The Expected Credit Losses (ECL), which are measured and recorded pursuant to the IFRS 9 adoption, recorded for debt instruments measured at FVOCI does not reduce the carrying amounts of these financial assets, as these remain at fair value in the statement of financial position, but instead, an amount equal to the allowance that would result from the impairment is recognized in OCI, with a corresponding charge to profit or loss. The accumulated loss recognized in OCI is recycled to profit or loss upon derecognition of the asset. Where the Bank holds more than one investment in the same security, they are deemed to be disposed of on a first–in first–out basis. On derecognition, cumulative gains or losses previously recognized in OCI are reclassified from OCI to profit or loss. (iii.2) Equity instruments at FVOCI Upon initial recognition, the Bank occasionally elects to classify irrevocably some of its equity investments as equity instruments at FVOCI when they meet the definition of Equity under IAS 32 "Financial Instruments: Presentation" and are not held for trading. Such classification is determined on an instrument-by instrument basis. Gains and losses on these equity instruments are never recycled to profit or loss. Dividends are recognized in profit or loss as other operating income. Equity instruments at FVOCI are not subject to an impairment assessment. (iv) Lease contracts Accounts receivable relating to leasing contracts, included under the caption "Loans to customers", correspond to periodic rent installments of contracts, which meet the definition to be classified as financial leases and are presented at their nominal value net of unearned interest as of each year-end. (v) Factoring transactions They are valued for the amounts disbursed by the Bank in exchange for invoices or other commercial instruments representative of credit, with or without responsibility of the grantor, received in discount. Price differences between the amounts disbursed and the nominal value of the credits are recorded in the result as interest income, through the effective interest method, during the financing period. In those cases where the transfer of these instruments was made without responsibility of the grantor, it is the Bank who assumes the insolvency risks of those required to pay. (vi) Financial guarantees: In its ordinary course of business, the Bank gives financial guarantees consisting of letters of credit, guarantees and acceptances. Financial guarantees are initially recognized in the financial statements at fair value being the premium received. Subsequent to initial recognition, the Bank's liability is measured at the higher of the amount originally recognized less, when appropriate, cumulative amortization recognized in the income statement and the best estimate of expenditure required settling the financial obligation arising as the result of the guarantee. The premium received is recognized in the income statement in "Income from Fees and Commissions" on a straight line basis over the guarantee period. (vii) Impairment of loans: (vii.1) Overview of the principles of Expected Credit Loss (ECL) With the publication in July 2014 of International Financial Reporting Standard 9 – Financial Instruments (IFRS 9), promulgated by the International Accounting Standards Board (IASB), that came into effect as of January 1, 2018, the calculation of provisions will include not only the impairment incurred, but also the future estimates of default and losses. In this context, and specifically within the scope of the impairment methodology required by IFRS 9 and considering establishing a new provisions calculation framework, the following key elements are identified, among others: ● Estimate of expected loss based on a scenario analysis. ● Calculation based on three stages, each as described below. ● Forward looking analysis of macroeconomic factors and their impact in risk parameters, such as GDP growth, unemployment rates and Central Banks interest rates. (vii.2) Expected Credit Loss (ECL) The expected credit loss reflects the weighted average, across multiple scenarios; for that purpose three scenarios are estimated, for some given probabilities optimistic, central and pessimistic scenarios. Pricing and loan loss provisions should be aligned to those estimates to ensure profitability management of the portfolio. IFRS9 requires that a provision be recognized on the date a loan is originated based on its expected credit loss. IFRS9 proposes to calculate the expected credit loss based on the classification of operations in stages: Stage 1: No significant increase in risk Financial assets whose credit quality is not significantly deteriorated with respect to their credit risk evaluation at the time of their origination. Twelve months expected losses are recognized. This stage also includes those credits which have been reclassified from stage 2. Stage 2: With a significant increase in risk Financial assets that are not in default, however, present a significant increase in risk with respect to the levels anticipated at the time of origination. Stage 2 operations are provisioned considering the financial instrument lifetime; for the discount of the expected losses, the effective rate at the time of origination is used, calculated on the gross amount in the Bank's books. This stage also includes those credits which have been reclassified from stage 3. Stage 3: Objective impairment evidence For financial assets that present evidence of impairment at the closing date of financial statements, the expected credit losses will consider a lifetime approach. The cash flows discount rate used for this stage corresponds to that of the effective interest rate (EIR) applied at the origination of the credit. POCI: Purchased or Originated Credit Impaired Purchased or originated credit impaired (POCI) assets are financial assets that are credit impaired on initial recognition. POCI assets are recorded at fair value at original recognition and interest income is subsequently recognized based on a credit-adjusted EIR. ECLs are only recognized or released to the extent that there is a subsequent change in their expected credit losses. The classification of the assets is of special relevance due to the different time horizons considered in the calculation of the provision for customers classified in stage 1 and those classified in stage 2. Therefore, the concept of significant risk increase (SRI) is relevant since the amount of provision depends on the interpretation of this concept. Individual classified loans An individual analysis of debtors is applied to individuals and companies that are of such significance with respect to size, complexity or level of exposure to the Bank that they must be analyzed in detail. The Bank classifies the debtors and their operations related to loans into one of three categories of loan portfolio: Normal, Substandard and Non-complying Loans. This internal rating considers the quantitative variables used to determine the significant risk increase (SRI) in order to establish the appropriate provisions. i. Normal Loans: Normal loans correspond to borrowers who are up to date on their payment obligations and no sign of impairment in their credit quality are shown. This situation is reflected in the internal rating that varies from A1 to A6. All exposures rated as A1 to A4 are classified as stage 1 in IFRS9; exposures rated A5 or A6 are also classified as stage 1 whenever they are not issued with a higher rating; in that case, they are classified as stage 2. ii. Substandard Loans: Substandard loans include all borrowers with a significant increase in risk and insufficient payment capacity or significant deterioration of payment capacity that it may be reasonably expected that they will not comply with all principal and interest payments obligations set forth in the credit agreement. This category also includes all loans that have been non-performing for more than 30 days. This situation is reflected in the internal rating that varies from B1 to B4. All exposures rated at these levels are classified as stage 2. iii. Non-complying Loans: Non-complying loans correspond to borrowers whose payment capacity is seriously at risk and who have a high likelihood of filing for bankruptcy or are renegotiating credit terms to avoid bankruptcy. This category comprises all loans outstanding from debtors that have at least one installment payment of interest or principal overdue for 90 days or more. This situation is reflected in the internal rating that varies from C1 to C6. All obligors rated at these levels are classified as stage 3. Group classified loans The group analysis is used to analyze a large number of loans whose individual amounts are homogenous and not signif |
New and Amended Standards and I
New and Amended Standards and Interpretations | 12 Months Ended |
Dec. 31, 2019 | |
New and amended standards and interpretations [abstract] | |
New and Amended Standards and Interpretations | 3. Amendments that resulted from improvements to IFRS to the following standards did not have any impact on the accounting policies, financial position or performance of the Bank: IFRIC 23 Uncertainty over Income Tax Treatments |
Changes in Accounting Policies
Changes in Accounting Policies and Disclosures | 12 Months Ended |
Dec. 31, 2019 | |
Changes in Accounting policies and Disclosures [abstract] | |
Changes in Accounting Policies and Disclosures | 4. The accounting policies adopted in the preparation of these Consolidated Financial Statements are consistent with those used in the preparation of the Bank’s consolidated annual financial statements for the year ended December 31, 2018, except for the adoption of new regulations in effect as of January 1, 2019 as described below. As of January 1, 2019, the Bank first adopted IFRS 16 Leases, for the purposes of the initial application, it was decided to recognize the cumulative effect on the date of initial adoption (January 1, 2019), not restating comparative information, accounting for a right-of-use asset for an amount equal to the lease liability for an amount of Ch$144,497 million (see Note No. 15 (d)). This amount was determined according to the present value of the remaining lease payments, discounted using the Bank’s incremental financing interest rate. During the year ended December 31, 2019, there have been no other accounting changes that may significantly affect these Consolidated Financial Statements. |
Segment Reporting
Segment Reporting | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of operating segments [abstract] | |
Segment Reporting | 5. For management purposes, the Bank has organized its operations and commercial strategies into four business segments, which are defined in accordance with the type of products and services offered to target customers. These business segments are currently defined as follows: Retail: This segment focuses on individuals and small and medium-sized companies with annual sales up to UF 70,000, where the product offering focuses primarily on consumer loans, commercial loans, checking accounts, credit cards, credit lines and mortgage loans. Wholesale: This segment focused on corporate clients and large companies, whose annual revenue exceed UF 70,000, where the product offering focuses primarily on commercial loans, checking accounts and liquidity management services, debt instruments, foreign trade, derivative contracts and leases. Treasury and money market operations: This segment includes revenue associated with managing the Bank's balance sheet (currencies, maturities and interest rates) and liquidity, including financial instrument and currency trading on behalf of the Bank itself. Transactions on behalf of customers carried out by the Treasury are reflected in the respective aforementioned segments. These products are highly transaction-focused and include foreign exchange transactions, derivatives and financial instruments in general. Operations through subsidiaries: Corresponds to the businesses generated by the companies controlled by the Bank, which carry out activities complementary to the Bank business. The companies that comprise this segment are: ● Banchile Administradora General de Fondos S.A. ● Banchile Asesoría Financiera S.A. ● Banchile Corredores de Seguros Ltda. ● Banchile Corredores de Bolsa S.A. ● Banchile Securitizadora S.A. ● Socofin S.A. The financial information used to measure the performance of the Bank's business segments is not necessarily comparable with similar information from other financial institutions because it is based on internal reporting policies. The accounting policies used to prepare the Bank's operating segment information are similar to those described in Note No. 2, "Summary of Significant Accounting Policies". The Bank obtains the majority of its income from: interest, UF indexation and fees and financial operations and changes, discounting provisions for credit risk and operating expenses. Management is mainly focused on these concepts in its evaluation of segment performance and decision-making regarding goals and allocation of resources for each unit individually. Although the results of the segments reconcile with those of the Bank at total level, this is not necessarily the case for all concepts on an individual basis, since the management is measured and controlled in individual form and additionally applies the following criteria: ● The net interest margin of loans and deposits is measured on an individual transaction and individual client basis. For that purposes, it is considered the volume of each operation and its contribution margin, that at the same time corresponds to the difference between effective rate of the client and the internal transfer price established according to terms and currency of each operation. Additionally, the net margin includes the result of interest and UF indexation from the accounting hedges. ● The internal performance profitability system considers capital allocation in each segment in accordance to the Basel guidelines. ● Operating expenses are distributed at each area level. The Bank allocates all of its indirect operating costs to each business segment by utilizing a different cost driver in order to allocate such costs to the specific segment. The Bank did not enter into transactions with any particular customer or third party that collectively generated more than 10% of the Bank's total income in 2018 and 2019. Taxes are managed at the consolidated level and are not allocated to business segments. As of December 31, 2017 Retail Wholesale Treasury Subsidiaries Subtotal Reclassifications and adjustments to conform IFRS Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Note MCh$ Net interest income 930,539 322,431 (21,169 ) (4,336 ) 1,227,465 7,230 1,234,695 Net fees and commissions income 184,049 43,443 (4,306 ) 135,987 359,173 (11,499 ) 347,674 Other operating income 19,095 34,712 56,328 26,884 137,019 (31,846 ) 105,173 Total operating revenue 1,133,683 400,586 30,853 158,535 1,723,657 (36,115 ) (1) 1,687,542 Provisions for loan losses (256,262 ) 21,415 ― (135 ) (234,982 ) 13,727 (2) (221,255 ) Depreciation and amortization (27,669 ) (4,547 ) (141 ) (2,894 ) (35,251 ) (2,285 ) (3) (37,536 ) Other operating expenses (507,771 ) (153,360 ) (5,022 ) (102,281 ) (768,434 ) 21,614 (4) (746,820 ) Income attributable to associates 4,372 1,026 108 551 6,057 (546 ) 5,511 Income before income taxes 346,353 265,120 25,798 53,776 691,047 (3,605 ) 687,442 Income taxes (115,034 ) (327 ) (5) (115,361 ) Income after income taxes 576,013 (3,932 ) 572,081 Assets 16,099,926 10,558,278 5,469,829 637,860 32,765,893 (388,753 ) 32,377,140 Current and deferred taxes 290,432 (106,135 ) 184,297 Total assets 33,056,325 (494,888 ) (6) 32,561,437 Liabilities 10,380,250 10,272,607 8,815,056 479,244 29,947,157 (934,521 ) 29,012,636 Current and deferred taxes 3,453 ― 3,453 Total liabilities 29,950,610 (934,521 ) (7) 29,016,089 Reclassifications and adjustments to conform IFRS (1) The total effect due to the elimination adjustments to conform the total operating revenue is MCh$(14,387). In addition the total effect of IFRS adjustments is MCh$(21,728) which mainly stems from the reclassification of interest on repurchase agreements and suspended interest recognition. (2) The total effect relates to IFRS adjustments of MCh$13,727, which mainly stems from differences in the calculation of allowances for loan losses. (3) The total effect relates to IFRS adjustments of MCh$(2,285), which stems from the amortization of intangibles and depreciation of property and equipment acquired through business combinations. (4) The total effect due to the elimination adjustments to conform other operating expenses is MCh$14,387. In addition the total effect of IFRS adjustments is MCh$7,227, which represents reversal of write-offs of assets received in lieu of payments. (5) The total effect relates to IFRS adjustments of MCh$(327), which stems from deferred taxes. (6) The total effect due to the elimination adjustments to conform the consolidated financial position data in assets is MCh$(232,137). In addition the total effect of IFRS adjustments in assets is MCh$(262,751), which mainly stems from differences in the calculation of allowances for loan losses, the acquisition of Citibank Chile and deferred taxes effects and settlement of transactions in the course of collection. (7) The total effect due to the elimination adjustments to conform the consolidated financial position data in liabilities is MCh$(232,137). In addition the total effect of IFRS adjustments in liabilities is MCh$(702,384), which mainly stems from provision for minimum dividends and differences in the calculation of allowances for loan losses. As of December 31, 2018 Retail Wholesale Treasury Subsidiaries Subtotal Reclassifications and adjustments to conform IFRS Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Note MCh$ Net interest income 972,172 355,451 (2,415 ) (8,994 ) 1,316,214 4,763 1,320,977 Net fees and commissions income 184,545 45,905 (4,031 ) 145,704 372,123 (12,168 ) 359,955 Other operating income 43,288 59,376 63,931 33,341 199,936 (34,798 ) 165,138 Total operating revenue 1,200,005 460,732 57,485 170,051 1,888,273 (42,203 ) (1) 1,846,070 Provisions for loan losses (287,569 ) 6,041 ― 118 (281,410 ) 31,639 (2) (249,771 ) Depreciation and amortization (29,571 ) (5,008 ) (91 ) (3,011 ) (37,681 ) ― (37,681 ) Other operating expenses (561,513 ) (152,921 ) (4,693 ) (105,906 ) (825,033 ) 23,006 (3) (802,027 ) Income attributable to associates 4,220 2,173 400 462 7,255 (444 ) 6,811 Income before income taxes 325,572 311,017 53,101 61,714 751,404 11,998 763,402 Income taxes (156,531 ) (3,237 ) (4) (159,768 ) Income after income taxes 594,873 8,761 603,634 Assets 16,425,483 10,591,702 8,093,850 925,440 36,036,475 (612,545 ) 35,423,930 Current and deferred taxes 262,582 (85,082 ) 177,500 Total assets 36,299,057 (697,627 ) (5) 35,601,430 Liabilities 10,399,587 9,873,018 11,952,656 764,736 32,989,997 (1,067,190 ) 31,922,807 Current and deferred taxes 4,907 ― 4,907 Total liabilities 32,994,904 (1,067,190 ) (6) 31,927,714 Reclassifications and adjustments to conform IFRS (1) The total effect due to the elimination adjustments to conform the total operating revenue is MCh$(14,990). In addition the total effect of IFRS adjustments is MCh$(27,213) which mainly stems from the reclassification of interest on repurchase agreements and suspended interest recognition. (2) The total effect relates to IFRS adjustments of MCh$31,639, which mainly stems from differences in the calculation of allowances for loan losses. (3) The total effect due to the elimination adjustments to conform other operating expenses is MCh$14,990. In addition the total effect of IFRS adjustments is MCh$8,016, which mainly represents reversal of write-offs of assets received in lieu of payments. (4) The total effect relates to IFRS adjustments of MCh$(3,237), which stems from deferred taxes. (5) The total effect due to the elimination adjustments to conform the consolidated financial position data in assets is MCh$(388,615). In addition the total effect of IFRS adjustments in assets is MCh$(309,012), which mainly stems from differences in the calculation of allowances for loan losses, the acquisition of Citibank Chile and deferred taxes effects and settlement of transactions in the course of collection. (6) The total effect due to the elimination adjustments to conform the consolidated financial position data in liabilities is MCh$(388,615). In addition the total effect of IFRS adjustments in liabilities is MCh$(678,575), which mainly stems from provision for minimum dividends and differences in the calculation of allowances for loan losses. As of December 31, 2019 Retail Wholesale Treasury Subsidiaries Subtotal Reclassifications and adjustments to conform IFRS Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Note MCh$ Net interest income 1,033,646 359,074 (19,246 ) (7,651 ) 1,365,823 5,455 1,371,278 Net fees and commissions income 270,064 48,097 (3,241 ) 153,330 468,250 (10,948 ) 457,302 Other operating income 34,854 61,505 45,105 53,931 195,395 (18,757 ) 176,638 Total operating revenue 1,338,564 468,676 22,618 199,610 2,029,468 (24,250 ) (1) 2,005,218 Provisions for loan losses (333,156 ) (14,052 ) ― (66 ) (347,274 ) 15,673 (2) (331,601 ) Depreciation and amortization (58,725 ) (5,885 ) (85 ) (5,846 ) (70,541 ) ― (70,541 ) Other operating expenses (587,212 ) (151,660 ) (5,040 ) (111,499 ) (855,411 ) 23,702 (3) (831,709 ) Income attributable to associates 3,957 1,669 331 493 6,450 (411 ) 6,039 Income before income taxes 363,428 298,748 17,824 82,692 762,692 14,714 777,406 Income taxes (169,683 ) (3,978 ) (4) (173,661 ) Income after income taxes 593,009 10,736 603,745 Assets 18,139,505 10,766,374 11,426,849 964,695 41,297,423 (515,199 ) 40,782,224 Current and deferred taxes 321,305 (89,655 ) 231,650 Total assets 41,618,728 (604,854 ) (5) 41,013,874 Liabilities 11,407,066 10,750,446 15,075,652 781,052 38,014,216 (982,392 ) 37,031,824 Current and deferred taxes 76,289 ― 76,289 Total liabilities 38,090,505 (982,392 ) (6) 37,108,113 Reclassifications and adjustments to conform IFRS (1) The total effect due to the elimination adjustments to conform the total operating revenue is MCh$(14,948). In addition the total effect of IFRS adjustments is MCh$(9,302) which mainly stems from the reclassification of interest on repurchase agreements and suspended interest recognition. (2) The total effect relates to IFRS adjustments of MCh$15,673, which mainly stems from differences in the calculation of allowances for loan losses. (3) The total effect due to the elimination adjustments to conform other operating expenses is MCh$14,948. In addition the total effect of IFRS adjustments is MCh$8,754, which mainly represents reversal of write-offs of assets received in lieu of payments. (4) The total effect relates to IFRS adjustments of MCh$(3,978), which stems from deferred taxes. (5) The total effect due to the elimination adjustments to conform the consolidated financial position data in assets is MCh$(345,395). In addition the total effect of IFRS adjustments in assets is MCh$(259,459), which mainly stems from differences in the calculation of allowances for loan losses, the acquisition of Citibank Chile and deferred taxes effects and settlement of transactions in the course of collection. (6) The total effect due to the elimination adjustments to conform the consolidated financial position data in liabilities is MCh$(345,395). In addition the total effect of IFRS adjustments in liabilities is MCh$(636,997), which mainly stems from provision for minimum dividends and differences in the calculation of allowances for loan losses. |
Cash and Cash Equivalents
Cash and Cash Equivalents | 12 Months Ended |
Dec. 31, 2019 | |
Cash and cash equivalents [abstract] | |
Cash and Cash Equivalents | 6. (a) Details of cash and cash equivalents and its reconciliation to the Statement of Cash Flows at each year-end are as follows: 2018 2019 MCh$ MCh$ Cash and due from banks: Cash (*) 624,862 889,911 Current account with the Central Bank (*) 121,807 178,429 Deposits in other domestic banks 26,698 75,651 Deposits abroad 106,714 1,248,175 Subtotal - Cash and due from banks 880,081 2,392,166 Transactions in the course of collection 244,758 232,551 Highly liquid financial instruments (**) 83,807 371,063 Repurchase agreements 72,632 114,466 Total cash and cash equivalents 1,281,278 3,110,246 (*) Amounts in cash and Central Bank deposits are mandatory reserve deposits for which the Bank must maintain a minimum specified monthly average balance. (**) It corresponds to negotiation instruments and investment instruments, whose terms do not exceed three months from the date of acquisition. 2018 2019 MCh$ MCh$ Highly liquid financial instruments: Financial Assets Held-for-trading 83,807 371,063 Total 83,807 371,063 (b) Transactions in the course of collection: Transactions in the course of collection are transactions for which the only remaining step is settlement, which will increase or decrease the funds in the Central Bank or in foreign banks, normally occurring within 24 to 48 business hours and are detailed as follows: 2018 2019 MCh$ MCh$ Assets Documents drawn on other banks (clearing) 210,743 222,261 Funds receivable 78,451 109,159 Subtotal transactions in the course of collection 289,194 331,420 Liabilities Funds payable (44,436 ) (98,869 ) Subtotal transactions in the course of payment (44,436 ) (98,869 ) Total transactions in the course of collection 244,758 232,551 |
Financial Assets Held-for-Tradi
Financial Assets Held-for-Trading | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of financial assets [abstract] | |
Financial Assets Held-for-Trading | 7. The details of financial instruments classified as held-for-trading at each period are as follows: 2018 2019 MCh$ MCh$ Instruments issued by the Chilean Government and Central Bank: Central Bank bonds 24,906 16,490 Central Bank promissory notes 1,410,080 1,008,035 Other instruments issued by the Chilean Government and Central Bank 88,486 99,164 Other instruments issued in Chile Bonds from other domestic companies 7,532 1,556 Bonds from domestic banks 20,186 55,094 Deposits in domestic banks 100,225 315,415 Other instruments issued in Chile 1,664 3,272 Instruments issued by foreign institutions Other instruments issued abroad 4,446 ― Mutual fund investments Funds managed by related companies 87,841 373,329 Funds managed by third-party ― ― Total 1,745,366 1,872,355 Under "Instruments issued by the Chilean Government and Central Bank of Chile" are classified some instruments as sold under resale agreements to customers and financial institutions, by an amount of Ch$15,243 million as of December 31, 2019 (Ch$115,749 million as of December 31, 2018). Repurchase agreements had a 3 days average expiration at the end of year 2019 (2 days average expiration in 2018). Moreover, under this same item, other financial instruments are maintained as collateral guaranteeing the derivative transactions executed through Comder Contraparte Central S.A. for an amount of Ch$57,639 million as of December 31, 2019 (Ch$34,456 million as of December 31, 2018). "Other instruments issued in Chile" include instruments sold under repurchase agreements with customers and financial instruments amounting to Ch$251,158 million as of December 31, 2019 (Ch$99,268 million as of December 31, 2018). Agreements to repurchase have an average expiration of 7 days at the end of year 2019 (10 days in December 2018). Additionally, the Bank holds financial investments in mortgage financial bonds issued by itself in the amount of Ch$8,029 million as of December 31, 2019 (Ch$11,397 million as of December 31, 2018), which are presented as a reduction of the liability line item "Debt issued". |
Investments Under Resale Agreem
Investments Under Resale Agreements and Obligations Under Repurchase Agreements | 12 Months Ended |
Dec. 31, 2019 | |
Cash collateral on securities and reverse repurchase agreements [abstract] | |
Investments under resale agreements and obligations under repurchase agreements | Investments under resale agreements and obligations under repurchase agreements: (a) Rights arising from resale repurchase agreements: The Bank provides financing to its customers through Repurchase Agreements and securities lending, in which the financial instrument serves as collateral. As of December 31, 2018 and 2019, the Bank has the following receivables resulting from such transactions: Up to 1 month Over 1 month Over 3 months Over 1 year Over 3 years Over 5 years Total 2018 2019 2018 2019 2018 2019 2018 2019 2018 2019 2018 2019 2018 2019 MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Instruments issued by the Chilean Governments and Central Bank of Chile Central Bank bonds — 11,184 — — — — — — — — — — — 11,184 Central Bank promissory notes 742 — — — — — — — — — — — 742 — Other instruments issued by the Chilean Government and Central Bank — 18,459 — — — — — — — — — — — 18,459 Subtotal 742 29,643 — — — — — — — — — — 742 29,643 Other Instruments issued in Chile Deposit promissory notes from domestic banks — — — — — — — — — — — — — — Mortgage bonds from domestic banks — — — — — — — — — — — — — — Bonds from domestic banks 367 15,407 — — — — — — — — — — 367 15,407 Deposits in domestic banks 2,053 — — — — — — — — — — — 2,053 — Bonds from other Chilean companies — — — — — — — — — — — — — — Other instruments issued in Chile 70,334 57,007 16,918 29,393 6,875 10,879 — — — — — — 94,127 97,279 Subtotal 72,754 72,414 16,918 29,393 6,875 10,879 — — — — — — 96,547 112,686 Instruments issued by foreign institutions Instruments from foreign governments or Central Bank — — — — — — — — — — — — — — Other instruments — — — — — — — — — — — — — — Subtotal — — — — — — — — — — — — — — Total 73,496 102,057 16,918 29,393 6,875 10,879 — — — — — — 97,289 142,329 Securities received: As part of investments under resale agreements the Bank has received securities that it is allowed to sell or give as collateral in case the owner of these instruments enters into default or in bankruptcy. As of December 31, 2019 the Bank held securities with a fair value of Ch$142,370 million (Ch$95,316 million in 2018). (b) Obligations arising from repurchase agreements: The Bank obtains financing by selling financial instruments and agreeing to repurchase them in the future, plus interest at a prefixed rate. As of December 31, 2018 and 2019, the Bank has the following payables resulting from such transactions: Up to 1 month Over 1 month Over 3 months Over 1 year Over 3 years Over 5 years Total 2018 2019 2018 2019 2018 2019 2018 2019 2018 2019 2018 2019 2018 2019 MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Instruments issued by the Chilean Governments and Central Bank of Chile Central Bank bonds 130,197 7,301 — — — — — — — — — — 130,197 7,301 Central Bank promissory notes — 9,067 — — — — — — — — — — — 9,067 Other instruments issued by the Chilean Government and Central Bank — — — — — — — — — — — — — — Subtotal 130,197 16,368 — — — — — — — — — — 130,197 16,368 Other Instruments issued in Chile Deposit promissory notes from domestic banks — — — — — — — — — — — — — — Mortgage bonds from domestic banks — — — — — — — — — — — — — — Bonds from domestic banks — — — — — — — — — — — — — — Deposits in domestic banks 162,167 280,696 1,448 8,583 5,210 — — — — — — — 168,825 289,279 Bonds from other Chilean companies — — — — — — — — — — — — — — Other instruments issued in Chile 4,798 1,647 — — — 1,440 — — — — — — 4,798 3,087 Subtotal 166,965 282,343 1,448 8,583 5,210 1,440 — — — — — — 173,623 292,366 Instruments issued by foreign institutions Instruments from foreign governments or central bank — — — — — — — — — — — — — — Other instruments issued by foreign — — — — — — — — — — — — — — Subtotal — — — — — — — — — — — — — — Total 297,162 298,711 1,448 8,583 5,210 1,440 — — — — — — 303,820 308,734 Securities sold: The fair value of the financial instruments delivered as collateral by the Bank and its subsidiaries, in sales transactions with repurchase agreement and securities lending as of December 31, 2019 amounts to Ch$305,593 million (Ch$298,708 million in December 2018). In the event that the Bank and its subsidiaries enter into default or bankruptcy, the counterparty is authorized to sell or deliver these investments as collateral. |
Derivative Instruments and Acco
Derivative Instruments and Accounting Hedges | 12 Months Ended |
Dec. 31, 2019 | |
Derivative Instruments and Accounting Hedges [abstract] | |
Derivative Instruments and Accounting Hedges | 9. Derivative Instruments and Accounting Hedges: (a) As of December 31, 2018 and 2019, the Bank’s portfolio of derivative instruments is detailed as follows: As of December 31, 2018 Notional Fair value contract Asset Liability MCh$ MCh$ MCh$ Derivatives held for hedging of fair value Cross currency swap 11,132 ― 3,012 Interest rate swap 226,954 1,116 3,152 Total derivatives held for hedging purposes 238,086 1,116 6,164 Derivatives held as cash flow hedges Interest rate swap and cross currency swap 1,137,457 34,298 31,818 Total Derivatives held as cash flow hedges 1,137,457 34,298 31,818 Derivatives held-for-trading purposes Currency forward 35,690,464 735,444 631,089 Interest rate swap 72,330,827 287,611 284,840 Cross currency swap and interest rate swap 13,982,890 450,519 569,868 Call currency options 229,175 4,839 2,921 Put currency options 192,553 120 1,534 Total derivatives held-for-trading purposes 122,425,909 1,478,533 1,490,252 Total 123,801,452 1,513,947 1,528,234 As of December 31, 2019 Notional Fair value contract Asset Liability MCh$ MCh$ MCh$ Derivatives held for hedging of fair value Cross currency swap 8,166 ― 2,547 Interest rate swap 86,317 32 6,739 Total derivatives held for hedging purposes 94,483 32 9,286 Derivatives held as cash flow hedges Interest rate swap and cross currency swap 1,181,882 61,562 34,443 Total Derivatives held as cash flow hedges 1,181,882 61,562 34,443 Derivatives held-for-trading purposes Currency forward 34,499,472 956,632 673,932 Interest rate swap 61,411,254 888,581 886,963 Cross currency swap and interest rate swap 18,575,756 873,371 1,210,059 Call currency options 178,414 4,961 1,529 Put currency options 158,672 1,076 2,209 Total derivatives held-for-trading purposes 114,823,568 2,724,621 2,774,692 Total 116,099,933 2,786,215 2,818,421 (b) Fair Value Hedges (notional): The Bank uses cross-currency swaps and interest rate swaps to hedge its exposure to changes in the fair value of the hedged elements attributable to interest rates. The aforementioned hedge instruments change the effective cost of long-term issuances from a fixed interest rate to a variable interest rate, decreasing the duration and modifying the sensitivity to the shortest segments of the curve. Below is a detail of the hedged elements and hedge instruments under fair value hedges as of December 31, 2018 and 2019: As of December 31, 2018 2019 MCh$ MCh$ Notional Amounts Hedged element Commercial loans 11,132 8,166 Corporate bonds 226,954 86,317 Hedge instrument Cross currency swap 11,132 8,166 Interest rate swap 226,954 86,317 (c) Cash flow Hedges: (c.1) The Bank uses cross currency swaps to hedge the risk from variability of cash flows attributable to changes in the interest rates and foreign exchange of borrowings from banks and bonds issued abroad in US dollars, Hong Kong dollars, Swiss franc, Japanese yen, Peruvian sol, Australian Dollars, Euros and Norwegian kroner. The cash flows of the cross currency swaps equal the cash flows of the hedged items, which modify uncertain cash flows to known cash flows derived from a fixed interest rate. Additionally, these cross currency swap contracts used to hedge the risk from variability of the Unidad de Fomento (CLF) in assets flows denominated in CLF until a nominal amount equal to the portion notional of the hedging instrument CLF, whose readjustment daily impact the item “interest revenue” of the financial statements. (c.2) Below are the cash flows of borrowings from banks and bonds issued abroad, the objects of these hedges and the cash flows of the asset part of the derivative: Up to 1 month Over 1 month Over 3 months Over 1 year Over 3 years Over 5 years Total 2018 2019 2018 2019 2018 2019 2018 2019 2018 2019 2018 2019 2018 2019 MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Hedge element Outflows: Corporate Bond EUR — — — — (1,338 ) (1,421 ) (2,675 ) (2,842 ) (2,675 ) (2,842 ) (87,097 ) (91,089 ) (93,785 ) (98,194 ) Corporate Bond HKD — — — — (66,378 ) (12,829 ) (21,601 ) (25,627 ) (83,608 ) (91,034 ) (263,206 ) (320,604 ) (434,793 ) (450,094 ) Corporate Bond PEN — — — (894 ) — (894 ) — (3,575 ) — (3,575 ) — (49,651 ) — (58,589 ) Corporate Bond CHF — — (89,256 ) — (125,993 ) (798 ) (1,450 ) (1,597 ) (82,552 ) (90,095 ) (106,050 ) (116,765 ) (405,301 ) (209,255 ) Corporate Bond USD — — — — (1,476 ) (1,600 ) (2,952 ) (3,200 ) (2,952 ) (3,200 ) (42,060 ) (43,994 ) (49,440 ) (51,994 ) Obligation USD (870 ) (216 ) (86 ) (336 ) (49,401 ) (884 ) (105,622 ) (166,592 ) — — — — (155,979 ) (168,028 ) Corporate Bond JPY — — (49,362 ) (34,638 ) (1,072 ) (2,121 ) (33,487 ) (38,596 ) (32,882 ) (3,482 ) (71,830 ) (193,625 ) (188,633 ) (272,462 ) Corporate Bond AUD — — — (428 ) — (3,274 ) — (7,399 ) — (7,401 ) — (156,499 ) — (175,001 ) Corporate Bond NOK — — — — — (2,341 ) — (4,682 ) — (4,682 ) — (75,919 ) — (87,624 ) Hedge instrument Inflows: Cross Currency Swap EUR — — — — 1,338 1,421 2,675 2,842 2,675 2,842 87,097 91,089 93,785 98,194 Cross Currency Swap HKD — — — — 66,378 12,829 21,601 25,627 83,608 91,034 263,206 320,604 434,793 450,094 Cross Currency Swap PEN — — — 894 — 894 — 3,575 — 3,575 — 49,651 — 58,589 Cross Currency Swap CHF — — 89,256 — 125,993 798 1,450 1,597 82,552 90,095 106,050 116,765 405,301 209,255 Cross Currency Swap USD — — — — 1,476 1,600 2,952 3,200 2,952 3,200 42,060 43,994 49,440 51,994 Cross Currency Swap USD 870 216 86 336 49,401 884 105,622 166,592 — — — — 155,979 168,028 Cross Currency Swap JPY — — 49,362 34,638 1,072 2,121 33,487 38,596 32,882 3,482 71,830 193,625 188,633 272,462 Cross Currency Swap AUD — — — 428 — 3,274 — 7,399 — 7,401 — 156,499 — 175,001 Cross Currency Swap NOK — — — — — 2,341 — 4,682 — 4,682 — 75,919 — 87,624 Net cash flows — — — — — — — — — — — — — — (c.2) Below are the cash flows of the underlying assets portfolio and the cash flow of the liability part of the derivatives: Up to 1 month Over 1 month Over 3 months Over 1 year Over 3 years Over 5 years Total 2018 2019 2018 2019 2018 2019 2018 2019 2018 2019 2018 2019 2018 2019 MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Hedge element Inflows: Cash flows in CLF — 156 144,458 33,648 237,340 21,062 173,263 234,065 195,590 280,074 542,523 795,068 1,293,174 1,364,073 Hedge instrument Outflows: Cross Currency Swap HKD — (156 ) — — (59,667 ) (8,798 ) (16,835 ) (17,906 ) (68,362 ) (69,035 ) (233,286 ) (268,034 ) (378,150 ) (363,929 ) Cross Currency Swap PEN — — — (47 ) — (48 ) — (188 ) — (189 ) — (31,223 ) — (31,695 ) Cross Currency Swap JPY — — (50,247 ) (33,570 ) (2,740 ) (4,096 ) (37,432 ) (40,344 ) (35,213 ) (6,424 ) (78,611 ) (199,778 ) (204,243 ) (284,212 ) Cross Currency Swap USD — — — — (47,797 ) (1,275 ) (107,893 ) (161,941 ) (1,243 ) (1,281 ) (36,888 ) (37,242 ) (193,821 ) (201,739 ) Cross Currency Swap CHF — — (94,211 ) — (125,325 ) (3,858 ) (7,482 ) (7,653 ) (87,164 ) (197,107 ) (108,488 ) — (422,670 ) (208,618 ) Cross Currency Swap EUR — — — — (1,811 ) (1,857 ) (3,621 ) (3,715 ) (3,608 ) (3,718 ) (85,250 ) (85,686 ) (94,290 ) (94,976 ) Cross Currency Swap AUD — — — (31 ) — (521 ) — (1,103 ) — (1,104 ) — (108,622 ) — (111,381 ) Cross Currency Swap NOK — — — — — (609 ) — (1,215 ) — (1,216 ) — (64,483 ) — (67,523 ) Net cash flows — — — — — — — — — — — — — — With respect to CLF assets hedged, these are revalued monthly according to the variation of the UF, which is equivalent to monthly reinvestment of the assets until maturity of the relationship hedging. (c.3) The accumulated amount of unrealized gain was a charge to equity for an amount of Ch$37,546 million (a charge to equity for Ch$30,943 million in 2018 and a credit to equity for Ch$14,979 million in 2017) generated from hedging instruments, which has been recorded in equity. The net effect of tax was a charge to equity for Ch$27,408 million in 2019 (a charge to equity for Ch$22,589 million in 2018 and a credit to equity for Ch$11,158 million in 2017). The accumulated balance for this concept net of income tax as of December 31, 2019 corresponds to a debit of equity amounted Ch$59,391 million (a debit of equity for Ch$31,983 million in 2018 and a debit to equity for Ch$9,394 million in 2017). (c.4) The net effect in income of derivatives cash flow hedges was a credit of Ch$84,684 million in 2019 (a credit to income for Ch$85,659 million in 2018 and a debit to income for Ch$93,612 million in 2017). (c.5) As of December 31, 2019 and 2018, it not exist inefficiency in cash flow hedge, because both, hedge item and hedge instruments are mirror one of other, it means that all variation of value attributable to rate and revaluation components are netted almost totally. (c.6) As of December 31, 2019 and 2018, the Bank has no hedges of net investments in foreign businesses. |
Loans and Advances to Banks, Ne
Loans and Advances to Banks, Net | 12 Months Ended |
Dec. 31, 2019 | |
Loans and Advances to Banks, net [abstract] | |
Loans and Advances to Banks, net | 10. Loans and Advances to Banks, net: (a) As of December 31, 2018 and 2019, loans and advance to banks, net are detailed as follows: 2018 2019 MCh$ MCh$ Domestic Banks Interbank loans 100,023 150,007 Other credits with domestic banks — — Provisions for loans to domestic banks (247 ) (33 ) Subtotal 99,776 149,974 Foreign Banks Loans to foreign banks 239,797 289,337 Credits with third countries 41,872 8,934 Chilean export trade banks 12,873 61,860 Provisions for loans to foreign banks (765 ) (77 ) Subtotal 293,777 360,054 Central Bank of Chile Central Bank deposits 1,100,306 630,053 Other Central Bank credits 525 — Subtotal 1,100,831 630,053 Total 1,494,384 1,140,081 (b) Impairment allowance for due from banks: i. The credit quality and the maximum exposure to credit risk based on the Bank’s internal credit rating system and year-end stage classification as of December 31, 2018 and 2019, is as follows: 2018 2019 Stage 1 Individual Stage 2 Individual Stage 3 Individual Total Stage 1 Individual Stage 2 Individual Stage 3 Individual Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Domestic Banks Normal 100,023 — — 100,023 150,007 — — 150,007 Substandard — — — — — — — — Non-complying — — — — — — — — Subtotal 100,023 — — 100,023 150,007 — — 150,007 Foreign Banks Normal 266,648 27,894 — 294,542 238,491 121,640 — 360,131 Substandard — — — — — — — — Non-complying — — — — — — — — Subtotal 266,648 27,894 — 294,542 238,491 121,640 — 360,131 Central Bank of Chile Normal 1,100,831 — — 1,100,831 630,053 — — 630,053 Substandard — — — — — — — — Non-complying — — — — — — — — Subtotal 1,100,831 — — 1,100,831 630,053 — — 630,053 Total 1,467,502 27,894 — 1,495,396 1,018,551 121,640 — 1,140,191 ii. Changes in gross carrying amount and corresponding allowance for ECL by stage as of December 31, 2018 and 2019, is as follows: Changes as of December 31, 2018 Stage 1 Individual Stage 2 Individual Stage 3 Individual Total Gross carrying ECL Gross carrying ECL Gross carrying ECL Gross carrying ECL ECL allowances as of January 1, 2018 760,285 772 — — — — 760,285 772 Net change on ECL allowances * 746,808 250 1,376 9 — — 748,184 259 Transfer to Stage 1 — — — — — — — — Transfer to Stage 2 (26,518 ) (63 ) 26,518 63 — — — — Transfer to Stage 3 — — — — — — — — Impact on year-end ECL of exposures transferred between stages during the year ** — — — 3 — — — 3 Amounts written off — — — — — — — — Foreign exchange adjustments (13,073 ) (22 ) — — — — (13,073 ) (22 ) Total 1,467,502 937 27,894 75 — — 1,495,396 1,012 Changes as of December 31, 2019 Stage 1 Individual Stage 2 Individual Stage 3 Individual Total Gross carrying ECL Gross carrying ECL Gross carrying ECL Gross carrying ECL ECL allowances as of January 1, 2019 1,467,502 937 27,894 75 — — 1,495,396 1,012 Net change on ECL allowances * (321,373 ) (832 ) (6,339 ) (48 ) — — (327,712 ) (880 ) Transfer to Stage 1 16,405 26 (16,405 ) (26 ) — — — — Transfer to Stage 2 (126,709 ) (27 ) 126,709 27 — — — — Transfer to Stage 3 — — — — — — — — Impact on year-end ECL of exposures transferred between stages during the year ** — — — — — — — — Changes to models and assumptions — — — — — — — — Amounts written off — — — — — — — — Foreign exchange adjustments (17,274 ) (20 ) (10,219 ) (2 ) — — (27,493 ) (22 ) Total 1,018,551 84 121,640 26 — — 1,140,191 110 * Net change between assets originated and assets repaid, excluding write offs. ** Represents the change in the year-end ECLs of exposures that were transferred from one stage to another during the year. |
Loans to Customers at Amortized
Loans to Customers at Amortized Cost | 12 Months Ended |
Dec. 31, 2019 | |
Loans to Customers, net [abstract] | |
Loans to Customers at amortized cost | Loans to Customers at amortized cost: (a) Loans to Customers: As of December 31, 2018 and 2019, the composition of our portfolio of loans is the following: As of December 31, 2018 As of December 31, 2019 Assets Allowances Net assets Assets Allowances Net assets MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Commercial loans Commercial loans 11,496,591 (175,122 ) 11,321,469 12,144,720 (197,530 ) 11,947,190 Foreign trade loans 1,313,001 (12,922 ) 1,300,079 1,431,794 (12,306 ) 1,419,488 Current account debtors 222,218 (9,116 ) 213,102 265,762 (9,443 ) 256,319 Factoring transactions 701,005 (4,017 ) 696,988 688,198 (4,878 ) 683,320 Student loans 51,919 (1,441 ) 50,478 56,219 (2,442 ) 53,777 Commercial lease transactions (1) 1,571,999 (15,778 ) 1,556,221 1,619,772 (18,746 ) 1,601,026 Other loans and accounts receivable 81,665 (10,468 ) 71,197 87,747 (9,456 ) 78,291 Subtotal 15,438,398 (228,864 ) 15,209,534 16,294,212 (254,801 ) 16,039,411 Mortgage loans Mortgage bonds 21,443 (221 ) 21,222 14,808 (174 ) 14,634 Transferable mortgage loans 42,313 (226 ) 42,087 32,386 (157 ) 32,229 Other residential real estate mortgage loans 7,978,092 (33,875 ) 7,944,217 9,148,811 (43,363 ) 9,105,448 Credits from ANAP 6 ― 6 4 ― 4 Other loans and accounts receivable 10,219 (8 ) 10,211 10,718 (14 ) 10,704 Subtotal 8,052,073 (34,330 ) 8,017,743 9,206,727 (43,708 ) 9,163,019 Consumer loans Consumer loans in installments 2,957,493 (263,542 ) 2,693,951 3,039,560 (281,437 ) 2,758,123 Current account debtors 312,783 (12,868 ) 299,915 296,374 (14,450 ) 281,924 Credit card debtors 1,165,064 (45,254 ) 1,119,810 1,195,614 (54,304 ) 1,141,310 Consumer lease transactions (1) 9 ― 9 69 ― 69 Other loans and accounts receivable 812 (520 ) 292 716 (533 ) 183 Subtotal 4,436,161 (322,184 ) 4,113,977 4,532,333 (350,724 ) 4,181,609 Total 27,926,632 (585,378 ) 27,341,254 30,033,272 (649,233 ) 29,384,039 (1) In this item, the Bank finances its customers’ purchases of assets, including real estate and other personal property, through financial lease agreements. As of December 31, 2019, Ch$779,682 million corresponds to financial leases for real estate (Ch$758,970 million in December 2018) and Ch$840,159 million corresponds to financial leases for other assets (Ch$813,038 million in December 2018). (b) Impairment allowance for loans to customers: i. The credit quality and the maximum exposure to credit risk based on the Bank’s internal credit rating system and year-end stage classification as of December 31, 2018 and 2019, are as follows: 2018 Stage 1 Stage 2 Stage 3 Individual Group Individual Group Individual Group POCI Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Commercial loans Normal 9,426,420 3,049,264 2,039,954 447,225 - 6,702 - 14,969,565 Substandard - - 94,894 - - - - 94,894 Non-complying - - - 13,026 120,564 239,734 615 373,939 Subtotal 9,426,420 3,049,264 2,134,848 460,251 120,564 246,436 615 15,438,398 Mortgage loans Normal - 6,893,619 - 993,085 - 513 - 7,887,217 Non-complying - - - - - 164,856 - 164,856 Subtotal - 6,893,619 - 993,085 - 165,369 - 8,052,073 Consumer loans Normal - 3,166,290 - 975,898 - 24,579 - 4,166,767 Non-complying - - - - - 269,394 - 269,394 Subtotal - 3,166,290 - 975,898 - 293,973 - 4,436,161 Total 9,426,420 13,109,173 2,134,848 2,429,234 120,564 705,778 615 27,926,632 2019 Stage 1 Stage 2 Stage 3 Individual Group Individual Group Individual Group POCI Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Commercial loans Normal 9,880,799 3,369,494 1,987,763 561,831 - 779 - 15,800,666 Substandard - - 71,718 - - - - 71,718 Non-complying - - - - 152,972 267,220 1,636 421,828 Subtotal 9,880,799 3,369,494 2,059,481 561,831 152,972 267,999 1,636 16,294,212 Mortgage loans Normal - 8,209,100 - 822,524 - - - 9,031,624 Non-complying - - - - - 175,103 - 175,103 Subtotal - 8,209,100 - 822,524 - 175,103 - 9,206,727 Consumer loans Normal - 3,860,973 - 372,814 - 7,555 - 4,241,342 Non-complying - - - - - 290,903 88 290,991 Subtotal - 3,860,973 - 372,814 - 298,458 88 4,532,333 Total 9,880,799 15,439,567 2,059,481 1,757,169 152,972 741,560 1,724 30,033,272 ii. Changes in gross carrying amount and corresponding allowance for ECL by stage as of December 31, 2018 and 2019, is as follows: Changes as of December 31, 2018 Stage 1 Stage 2 Stage 3 POCI Total Individual Group Individual Group Individual Group Gross ECL Gross ECL Gross ECL Gross ECL Gross ECL Gross ECL Gross ECL Gross ECL Commercial loans Balance as of January 1, 2018 8,446,627 16,527 2,506,255 16,663 2,228,401 31,252 408,337 20,247 162,231 50,014 208,944 86,701 23 6 13,960,818 221,410 Net change on Balance * 968,288 9,424 780,778 12,463 (254,542 ) (5,045 ) (105,114 ) (18,338 ) (81,058 ) (18,715 ) (4,607 ) 31,406 592 293 1,304,337 11,488 Transfer to Stage 1 681,223 4,114 375,672 14,807 (680,838 ) (3,981 ) (346,936 ) (6,387 ) (385 ) (133 ) (28,736 ) (8,420 ) - - - - Transfer to Stage 2 (811,209 ) (2,600 ) (602,997 ) (11,606 ) 822,133 8,805 630,963 15,817 (10,924 ) (6,205 ) (27,966 ) (4,211 ) - - - - Transfer to Stage 3 (15,175 ) (70 ) (16,665 ) (1,189 ) (32,569 ) (4,134 ) (127,676 ) (13,572 ) 47,744 4,204 144,341 14,761 - - - - Impact on year-end ECL of exposures transferred between stages during the year** - (2,702 ) - (9,589 ) - 4,512 - 23,822 - 5,505 - 21,568 - - - 43,116 Amounts written off (150 ) (150 ) (67 ) (67 ) (11 ) (11 ) (468 ) (468 ) (5,422 ) (5,422 ) (46,301 ) (46,301 ) - - (52,419 ) (52,419 ) Foreign exchange adjustments 156,816 337 6,288 112 52,274 945 1,145 46 8,378 3,446 761 383 - - 225,662 5,269 Subtotal Commercial loans 9,426,420 24,880 3,049,264 21,594 2,134,848 32,343 460,251 21,167 120,564 32,694 246,436 95,887 615 299 15,438,398 228,864 Mortgage loans Balance as of January 1, 2018 - - 6,410,939 740 - - 904,826 17,351 - - 161,471 15,686 - - 7,477,236 33,777 Net change on Balance * - - 734,990 299 - - (115,034 ) (8,772 ) - - (38,126 ) 4,417 - - 581,830 (4,056 ) Transfer to Stage 1 - - 399,309 892 - - (397,363 ) (758 ) - - (1,946 ) (134 ) - - - - Transfer to Stage 2 - - (651,619 ) (404 ) - - 671,775 2,112 - - (20,156 ) (1,708 ) - - - - Transfer to Stage 3 - - - - - - (71,113 ) (2,693 ) - - 71,113 2,693 - - - - Impact on year-end ECL of exposures transferred between stages during the year** - - - (803 ) - - - 9,661 - - - 2,744 - - - 11,602 Amounts written off - - - - - - (6 ) (6 ) - - (6,987 ) (6,987 ) - - (6,993 ) (6,993 ) Foreign exchange adjustments - - - - - - - - - - - - - - - - Subtotal Mortgage loans - - 6,893,619 724 - - 993,085 16,895 - - 165,369 16,711 - - 8,052,073 34,330 Consumer loans Balance as of January 1, 2018 - - 2,761,640 44,078 - - 967,918 115,096 - - 283,901 155,277 - - 4,013,459 314,451 Net change on Balance * - - 1,007,548 40,305 - - (416,546 ) (91,527 ) - - 60,645 119,321 - - 651,647 68,099 Transfer to Stage 1 - - 381,126 26,682 - - (335,330 ) (9,604 ) - - (45,796 ) (17,078 ) - - - - Transfer to Stage 2 - - (978,112 ) (44,301 ) - - 1,040,597 68,448 - - (62,485 ) (24,147 ) - - - - Transfer to Stage 3 - - (9,340 ) (2,024 ) - - (281,144 ) (72,629 ) - - 290,484 74,653 - - - - Impact on year-end ECL of exposures transferred between stages during the year** - - - (15,379 ) - - - 101,086 - - - 87,371 - - - 173,078 Amounts written off - - (104 ) (104 ) - - (627 ) (627 ) - - (232,780 ) (232,780 ) - - (233,511 ) (233,511 ) Foreign exchange adjustments - - 3,532 16 - - 1,030 49 - - 4 2 - - 4,566 67 Subtotal Consumer loans - - 3,166,290 49,273 - - 975,898 110,292 - - 293,973 162,619 - - 4,436,161 322,184 Total 9,426,420 24,880 13,109,173 71,591 2,134,848 32,343 2,429,234 148,354 120,564 32,694 705,778 275,217 615 299 27,926,632 585,378 * Net change between assets originated and assets repaid, excluding write offs. ** Represents the change in the year-end ECLs of exposures that were transferred from one stage to another during the year. Changes as of December 31, 2019 Stage 1 Stage 2 Stage 3 POCI Total Individual Group Individual Group Individual Group Gross ECL Gross ECL Gross ECL Gross ECL Gross ECL Gross ECL Gross ECL Gross ECL Commercial loans Balance as of January 1, 2019 9,426,420 24,880 3,049,264 21,594 2,134,848 32,343 460,251 21,167 120,564 32,694 246,436 95,887 615 299 15,438,398 228,864 Net change on Balance * 861,027 (14,709 ) 452,929 3,915 (231,267 ) (3,240 ) 57,965 5,054 (9,953 ) 7,859 (13,173 ) 36,913 1,027 (13 ) 1,118,555 35,779 Transfer to Stage 1 873,349 9,699 1,005,072 49,310 (873,232 ) (9,606 ) (1,002,422 ) (48,694 ) (117 ) (93 ) (2,650 ) (616 ) - - - - Transfer to Stage 2 (1,120,580 ) (4,449 ) (1,118,008 ) (19,312 ) 1,130,960 7,184 1,168,875 28,065 (10,380 ) (2,734 ) (50,867 ) (8,754 ) - - - - Transfer to Stage 3 (2,593 ) (99 ) (13,769 ) (1,050 ) (65,157 ) (10,055 ) (121,315 ) (12,628 ) 67,750 10,153 135,084 13,679 - - - - Impact on year-end ECL of exposures transferred between stages during the year** - (7,346 ) - (36,508 ) - 7,092 - 39,878 - 9,378 - 16,666 - - - 29,160 Changes to models and assumptions - 944 - (82 ) - 18,860 - (861 ) - - - (470 ) - (5 ) - 18,386 Amounts written off - - (55 ) (55 ) (65 ) (65 ) (371 ) (371 ) (8,587 ) (8,587 ) (46,614 ) (46,614 ) (6 ) (6 ) (55,698 ) (55,698 ) Foreign exchange adjustments (156,824 ) 25 (5,939 ) (69 ) (36,606 ) (107 ) (1,152 ) (83 ) (6,305 ) (1,374 ) (217 ) (82 ) - - (207,043 ) (1,690 ) Subtotal Commercial loans 9,880,799 8,945 3,369,494 17,743 2,059,481 42,406 561,831 31,527 152,972 47,296 267,999 106,609 1,636 275 16,294,212 254,801 Mortgage loans Balance as of January 1, 2019 - - 6,893,619 724 - - 993,085 16,895 - - 165,369 16,711 - - 8,052,073 34,330 Net change on Balance * - - 1,312,226 739 - - (117,481 ) 6,768 - - (32,301 ) 552 - - 1,162,444 8,059 Transfer to Stage 1 - - 1,516,595 16,318 - - (1,516,155 ) (16,281 ) - - (440 ) (37 ) - - - - Transfer to Stage 2 - - (1,513,235 ) (742 ) - - 1,532,523 2,239 - - (19,288 ) (1,497 ) - - - - Transfer to Stage 3 - - (105 ) - - - (69,448 ) (2,770 ) - - 69,553 2,770 - - - - Impact on year-end ECL of exposures transferred between stages during the year** - - - (15,913 ) - - - 19,262 - - - 2,225 - - - 5,574 Changes to models and assumptions - - - 285 - - - 3,250 - - - - - - - 3,535 Amounts written off - - - - - - - - - (7,790 ) (7,790 ) - - (7,790 ) (7,790 ) Foreign exchange adjustments - - - - - - - - - - - - - - - Subtotal Mortgage loans - - 8,209,100 1,411 - - 822,524 29,363 - - 175,103 12,934 - - 9,206,727 43,708 Consumer loans Balance as of January 1, 2019 - - 3,166,290 49,273 - - 975,898 110,292 - - 293,973 162,619 - - 4,436,161 322,184 Net change on Balance * - - 493,973 60,685 - - (212,059 ) (48,295 ) - - 67,033 139,704 88 44 349,035 152,138 Transfer to Stage 1 - - 1,688,787 243,865 - - (1,679,389 ) (240,444 ) - - (9,398 ) (3,421 ) - - - - Transfer to Stage 2 - - (1,472,886 ) (90,968 ) - - 1,588,909 129,954 - - (116,023 ) (38,986 ) - - - - Transfer to Stage 3 - - (12,204 ) (2,646 ) - - (299,286 ) (78,223 ) - - 311,490 80,869 - - - - Impact on year-end ECL of exposures transferred between stages during the year** - - - (161,427 ) - - - 203,042 - - - 84,786 - - - 126,401 Changes to models and assumptions - - - - - - - - - - - - - - - - Amounts written off - - (120 ) (120 ) - - (978 ) (978 ) - - (248,614 ) (248,614 ) - - (249,712 ) (249,712 ) Foreign exchange adjustments - - (2,867 ) (126 ) - - (281 ) (113 ) - - (3 ) (48 ) - - (3,151 ) (287 ) Subtotal Consumer loans - - 3,860,973 98,536 - - 372,814 75,235 - - 298,458 176,909 88 44 4,532,333 350,724 Total 9,880,799 8,945 15,439,567 117,690 2,059,481 42,406 1,757,169 136,125 152,972 47,296 741,560 296,452 1,724 319 30,033,272 649,233 * Net change between assets originated and assets repaid, excluding write offs. ** Represents the change in the year-end ECLs of exposures that were transferred from one stage to another during the year. (c) Allowances for loan losses: Changes in allowances for loan losses during 2018 and 2019 are as follows: Commercial Mortgage Consumer Total MCh$ MCh$ MCh$ MCh$ Balance as of January 1, 2018 221,410 33,777 314,451 569,638 Charge-offs (52,419 ) (6,993 ) (233,511 ) (292,923 ) Sales or transfers of credits (958 ) ― ― (958 ) Allowances (released) established, net 60,831 7,546 241,244 309,621 Balance as of December 31, 2018 228,864 34,330 322,184 585,378 Charge-offs (55,698 ) (7,790 ) (249,712 ) (313,200 ) Sales or transfers of credits ― ― ― ― Allowances (released) established, net 81,635 17,168 278,252 377,055 Balance as of December 31, 2019 254,801 43,708 350,724 649,233 (d) Financial Lease Contracts: As of December 31, 2018 and 2019, the Bank’s scheduled cash flows to be received from financial leasing contracts have the following maturities as follows: Total receivable Unearned income Net lease receivable (*) 2018 2019 2018 2019 2018 2019 MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Due within one year 519,186 544,067 (60,216 ) (58,871 ) 458,970 485,196 Due after 1 year but within 2 years 383,164 392,832 (44,066 ) (42,302 ) 339,098 350,530 Due after 2 years but within 3 years 255,997 258,331 (28,740 ) (27,329 ) 227,257 231,002 Due after 3 years but within 4 years 162,310 163,847 (19,471 ) (18,361 ) 142,839 145,486 Due after 4 years but within 5 years 108,453 108,192 (13,992 ) (13,242 ) 94,461 94,950 Due after 5 years 336,705 335,695 (33,666 ) (30,313 ) 303,039 305,382 Total 1,765,815 1,802,964 (200,151 ) (190,418 ) 1,565,664 1,612,546 (*) The net balance receivable does not include the total overdue portfolio totaling Ch$6,344 million and Ch$7,295 million as of December 31, 2018 and 2019, respectively. This overdue portfolio only reflects the past due portion without considering the remaining outstanding principal and interest. The leasing contracts are related to real estate, industrial machinery, vehicles and transport equipment. The leasing contracts have an average life of between 2 and 15 years. (e) Loans by industry sector: The following table details the Bank’s loan portfolio (before allowances for loans losses) as of December 31, 2018 and 2019 by the customer’s industry sector: Location Chile Abroad Total 2018 2019 2018 2019 2018 2019 MCh$ MCh$ MCh$ MCh$ MCh$ % MCh$ % Commercial loans: Financial services 2,119,815 2,584,499 2,784 3,060 2,122,599 7.60 2,587,559 8.62 Services 2,109,143 2,267,433 348 436 2,109,491 7.55 2,267,869 7.55 Construction 1,752,237 2,142,699 ― ― 1,752,237 6.27 2,142,699 7.13 Commerce 2,285,895 2,055,183 38,430 11,189 2,324,325 8.32 2,066,372 6.88 Manufacturing 1,544,862 1,624,972 34,613 ― 1,579,475 5.66 1,624,972 5.41 Agriculture and livestock 1,582,520 1,623,465 ― ― 1,582,520 5.67 1,623,465 5.41 Transportation and telecommunications 1,480,773 1,234,087 17,369 ― 1,498,142 5.37 1,234,087 4.11 Mining 453,549 604,660 ― ― 453,549 1.62 604,660 2.01 Electricity, gas and water 461,351 325,143 ― ― 461,351 1.65 325,143 1.08 Fishing 156,472 140,709 ― ― 156,472 0.56 140,709 0.47 Other 1,398,237 1,676,677 ― ― 1,398,237 5.01 1,676,677 5.58 Subtotal 15,344,854 16,279,527 93,544 14,685 15,438,398 55.28 16,294,212 54.25 Residential mortgage loans 8,052,073 9,206,727 ― ― 8,052,073 28.83 9.206.727 30.66 Consumer loans 4,436,161 4,532,333 ― ― 4,436,161 15.89 4,532,333 15.09 Total 27,833,088 30,018,587 93,544 14,685 27,926,632 100.00 30,033,272 100.00 (f) Purchase of loan portfolio During the year ended December 31, 2019 the Bank has not acquired portfolio loans. During 2018, the Bank acquired loan portfolios, whose nominal value amounted to Ch$36,919 million. (g) Sale or transfer of credits from the loans to customers: During 2017, 2018 and 2019 the Bank has carried out transactions of sale or transfer of the loan portfolio according to the following: As of December 31, 2017 Carrying Allowances Sale price Effect on income MCh$ MCh$ MCh$ MCh$ Sale of outstanding loans 33,681 (11,595 ) 24,126 2,040 Sale of write-off loans — — 23 23 Total 33,681 (11,595 ) 24,149 2,063 As of December 31, 2018 Carrying Allowances Sale price Effect on income MCh$ MCh$ MCh$ MCh$ Sale of outstanding loans 22,567 (958 ) 21,876 267 Sale of write-off loans — — — — Total 22,567 (958 ) 21,876 267 As of December 31, 2019 Carrying Allowances Sale price Effect on income MCh$ MCh$ MCh$ MCh$ Sale of outstanding loans 12,420 — 12,420 — Sale of write-off loans — — — — Total 12,420 — 12,420 — (h) Own assets securitizations: During 2018 and 2019 the Bank did not execute securitization transactions involving its own assets. |
Financial Assets at Fair Value
Financial Assets at Fair Value through Other Comprehensive Income | 12 Months Ended |
Dec. 31, 2019 | |
Available-for-sale financial assets [abstract] | |
Financial Assets at Fair Value through Other Comprehensive Income | Financial Assets at Fair Value through Other Comprehensive Income: As of December 31, 2018 and 2019, financial assets are detailed as follows: 2018 2019 MCh$ MCh$ Debt instruments at fair value through OCI 1,043,440 1,357,846 Equity instruments valued at fair value through OCI 9,751 8,497 Total 1,053,191 1,366,343 (a) Debt instruments at fair value through OCI: (a.1) The breakdown of the balance under the heading “Debt instruments at fair value through OCI” as of December 31, 2018 and 2019 is, as follows: 2018 2019 MCh$ MCh$ Instruments issued by the Chilean Government and Central Bank: Bonds issued by the Chilean Government and Central Bank 135,145 76,358 Promissory notes issued by the Chilean Government and Central Bank — 16,466 Other instruments 29,077 16,238 Other instruments issued in Chile: Mortgage bonds from domestic banks 92,491 122,291 Bonds from domestic banks 5,351 15,927 Deposits from domestic banks 559,108 1,020,842 Bonds from other Chilean companies 6,599 1,395 Other instruments 107,125 68,476 Instruments issued by foreign institutions: Other instruments 108,544 19,853 Total 1,043,440 1,357,846 Instruments issued by the Chilean Government and Central Bank include instruments sold under repurchase agreements with clients and financial institutions, totaling Ch$6,965 million as of December 31, 2018. The repurchase agreements have an average maturity of 3 days as of December 31, 2018. As of December 31, 2019, there is no amount for this concept. Under the instruments issued abroad mainly include bonds of local companies issued abroad. As of December 31, 2019, the portfolio of financial assets at FVOCI includes a net unrealized gain of Ch$15,290 million, recorded in other comprehensive income within equity (Ch$3,649 million as of December 31, 2018). As of December 31, 2019 the impairment for debt instruments at Fair Value through OCI was Ch$7,736 million (Ch$4,268 million as of December 31, 2018). (a.2) The credit ratings of the issuers of debt instruments as of December 31, 2018 and 2019, are as follows: As of December 31, 2018 As of December 31, 2019 Stage 1 Individual Stage 2 Individual Stage 3 Individual Total Individual Stage 1 Individual Stage 2 Individual Stage 3 Individual Total Individual MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Debt Instrument Investment grade 827,770 — — 827,770 1,269,516 — — 1,269,516 Non-investment grade — — — — — — — — Without rating 215,670 — — 215,670 88,330 — — 88,330 Total 1,043,440 — — 1,043,440 1,357,846 — — 1,357,846 (a.3) Analysis of changes in the fair value and corresponding allowance for ECL by stage for debt instruments measured at FVOCI as of December 31, 2018 and 2019, is as follows: Stage 1 Individual Stage 2 Individual Stage 3 Individual Total Fair value MCh$ ECL MCh$ Fair value MCh$ ECL MCh$ Fair value MCh$ ECL MCh$ Fair value MCh$ ECL MCh$ Balance as of January 1, 2018 1,516,063 5,820 — — — — 1,516,063 5,820 Net change on Balance * (515,343 ) (1,978 ) — — — — (515,343 ) (1,978 ) Change in fair value 14,162 — — — — — 14,162 — Transfer to Stage 1 — — — — — — — — Transfer to Stage 2 — — — — — — — — Transfer to Stage 3 — — — — — — — — Impact on year-end ECL of exposures transferred between stages during the year ** — — — — — — — — Impact of net re-measurement of year-end ECL — 258 — — — — — 258 Amounts written off — — — — — — — — Foreign exchange adjustments 28,558 168 — — — — 28,558 168 Balance as of December 31, 2018 1,043,440 4,268 — — — — 1,043,440 4,268 Balance as of January 1, 2019 1,043,440 4,268 — — — — 1,043,440 4,268 Net change on Balance * 275,797 327 (19 ) (1 ) — — 275,778 326 Change in fair value 32,995 — — — — — 32,995 — Transfer to Stage 1 — — — — — — — — Transfer to Stage 2 (19 ) (1 ) 19 1 — — — — Transfer to Stage 3 — — — — — — — — Impact on year-end ECL of exposures transferred between stages during the year ** — — — — — — — — Impact of net re-measurement of year-end ECL — 3,102 — — — — — 3,102 Amounts written off — — — — — — — — Foreign exchange adjustments 5,633 40 — — — — 5,633 40 Balance as of December 31, 2019 1,357,846 7,736 — — — — 1,357,846 7,736 * Net change between assets purchased and assets derecognized, excluding write offs. ** Represents the change in the year-end ECLs of exposures that were transferred from one stage to another during the year. (b) Equity instruments at fair value through OCI: The breakdown of the balance under the heading “Equity instruments at fair value through OCI” as of December 31, 2018 and 2019 is as follows: 2018 2019 MCh$ MCh$ Equity instruments issued in Chile 8,939 7,446 Equity instruments issued by foreign institutions 812 1,051 Total 9,751 8,497 The equity investments issued by foreign institutions represent shares of currency exchange offices and servicing companies that the Bank is obliged to hold in order to benefit from these services. Shares that do not have an active market and their value cannot be reliably measured are presented at cost, the difference between cost and fair value is not expected to be significant. (c) Realized and unrealized profits: Realized profits and losses are calculated as the proceeds from sales less the cost (specific identification method) of the investments identified as for sale and fair value through OCI. In addition, any unrealized profit or loss previously recorded in other comprehensive income for these investments is reclassified when recorded in the income statements. The gross gains (losses) realized in sale of financial instruments, as of December 31, 2017, 2018 and 2019, is recorded in the item “Net financial operating income” (Note No. 31). Change in profits and losses unrealized on the sale of debt instruments for the periods ended December 31, 2017, 2018 and 2019 are as follows: 2017 2018 2019 MCh$ MCh$ MCh$ Net gain (loss) on financial assets before income tax (1) 4,775 (13,878 ) 15,969 Tax (expense) benefit (1,299 ) 3,757 (4,328 ) Net of tax amount (2) 3,476 (10,121 ) 11,641 (1) As of December 31, 2017, 2018 and 2019, realized gains reclassified to the income statement line item “Net financial operating income” amounted to Ch$5,149 million, Ch$400 million and Ch$4,716 million, respectively. (2) This amount corresponds to the unrealized gain or loss, net of deferred tax and which are included in “Consolidated Statement of Changes in Equity”. |
Investments in Other Companies
Investments in Other Companies | 12 Months Ended |
Dec. 31, 2019 | |
Investments in subsidiaries, joint ventures and associates [abstract] | |
Investments in Other Companies | 13. (a) This item includes investments in other companies for an amount of Ch$42,252 million and Ch$48,442 million as of December 31, 2018 and 2019, respectively, detailed as follows: Investment Ownership Interest Equity Assets Income 2018 2019 2018 2019 2018 2019 2017 2018 2019 Company Shareholder % % MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Associates Transbank S.A. Banco de Chile 26.16 26.16 69,358 82,667 18,468 21,973 2,117 3,262 3,505 Sociedad Operadora de Tarjetas de Crédito Nexus S.A. (*) Banco de Chile 25.81 29.63 16,805 17,675 4,557 5,238 884 735 5 Administrador Financiero del Transantiago S.A. Banco de Chile 20.00 20.00 17,978 19,174 3,680 3,985 317 582 390 Redbanc S.A. Banco de Chile 38.13 38.13 8,356 9,221 3,219 3,549 403 325 330 Centro de Compensación Automatizado S.A. Banco de Chile 33.33 33.33 5,592 6,464 1,894 2,184 236 305 294 Servicios de Infraestructura de Mercado OTC S.A. Banco de Chile 12.33 12.33 11,952 12,470 1,474 1,538 66 56 59 Sociedad Interbancaria de Depósitos de Valores S.A. Banco de Chile 26.81 26.81 4,161 4,811 1,129 1,359 215 204 231 Sociedad Operadora de la Cámara de Compensación de Pagos de Alto Valor S.A. Banco de Chile 15.00 15.00 6,106 6,290 944 958 66 58 29 Subtotal 140,308 158,772 35,365 40,784 4,304 5,527 4,843 Joint Venture Servipag Ltda. Banco de Chile 50.00 50.00 11,398 12,292 5,699 6,271 700 701 572 Artikos Chile S.A. Banco de Chile 50.00 50.00 2,025 2,399 1,188 1,387 507 583 624 Subtotal 13,423 14,691 6,887 7,658 1,207 1,284 1,196 Total 153,731 173,463 42,252 48,442 5,511 6,811 6,039 (*) During the year 2019, Banco de Chile increased its percentage of ownership interest through the purchase of 159,152 shares. (b) The total carrying amount of the Bank’s associates as of December 31, 2018 and 2019 is explained as follows: 2018 Associate’s statement of financial position Centro de Sociedad Sociedad Sociedad Interbancaria Redbanc Transbank Administrador Servicios de Infraestructura de Mercado OTC S.A. Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Current assets 3,088 5,871 12,918 153 6,084 818,587 55,406 18,842 920,949 Non-current assets 3,985 857 22,221 4,239 14,741 85,971 412 6,431 138,857 Total Assets 7,073 6,728 35,139 4,392 20,825 904,558 55,818 25,273 1,059,806 Current liabilities 1,321 622 14,179 231 9,907 833,788 36,676 10,111 906,835 Non-current liabilities 160 — 4,155 — 2,562 1,412 1,164 3,201 12,654 Total Liabilities 1,481 622 18,334 231 12,469 835,200 37,840 13,312 919,489 Equity 5,592 6,106 16,805 4,161 8,356 69,358 17,978 11,952 140,308 Minority interest — — — — — — — 9 9 Total Liabilities and Equity 7,073 6,728 35,139 4,392 20,825 904,558 55,818 25,273 1,059,806 Associate’s revenue and profit Operating income 3,214 3,302 50,319 1 35,314 191,568 3,435 6,254 293,407 Operating expenses (2,005 ) (3,016 ) (46,426 ) (35 ) (33,895 ) (177,440 ) (2,615 ) (5,567 ) (270,999 ) Other income (expenses) (25 ) 177 (173 ) 796 (260 ) 2,380 2,982 59 5,936 Income (loss) before taxes 1,184 463 3,720 762 1,159 16,508 3,802 746 28,344 Income tax (268 ) (79 ) (870 ) - (308 ) (4,038 ) (894 ) (292 ) (6,749 ) Net income for the year 916 384 2,850 762 851 12,470 2,908 454 21,595 2019 Associate’s statement of financial position Centro de Sociedad Operadora de la Cámara de Sociedad Operadora de Sociedad Interbancaria Redbanc Transbank Administrador Servicios de Infraestructura de Mercado OTC S.A. Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Current assets 5,087 6,019 9,586 113 7,047 1,118,388 54,120 21,585 1,221,945 Non-current assets 3,463 1,353 21,561 4,961 16,366 99,060 592 8,216 155,572 Total Assets 8,550 7,372 31,147 5,074 23,413 1,217,448 54,712 29,801 1,377,517 Current liabilities 1,947 769 7,951 263 7,688 1,130,800 34,234 16,789 1,200,441 Non-current liabilities 139 313 5,521 — 6,504 3,981 1,304 533 18,295 Total Liabilities 2,086 1,082 13,472 263 14,192 1,134,781 35,538 17,322 1,218,736 Equity 6,464 6,290 17,675 4,811 9,221 82,667 19,174 12,470 158,772 Minority interest — — — — — — — 9 9 Total Liabilities and Equity 8,550 7,372 31,147 5,074 23,413 1,217,448 54,712 29,801 1,377,517 Associate’s revenue and profit Operating income 3,384 3,386 49,944 15 38,024 222,912 3,707 6,291 327,663 Operating expenses (2,229 ) (3,348 ) (49,699 ) (57 ) (36,693 ) (133,128 ) (2,224 ) (5,725 ) (233,103 ) Other income (expenses) (13 ) 159 (304 ) 903 (195 ) (72,143 ) 979 179 (70,435 ) Gain before tax 1,142 197 (59 ) 861 1,136 17,641 2,462 745 24,125 Income tax (261 ) (4 ) 75 — (270 ) (4,239 ) (514 ) (267 ) (5,480 ) Gain for the year 881 193 16 861 866 13,402 1,948 478 18,645 (c) Joint Ventures: The Bank has a 50% interest in Servipag Ltda. and a 50% interest in Artikos Chile S.A., two jointly controlled entities. The Bank’s interest in both entities is accounted for using the equity method in the consolidated financial statements. The table below presents summarized financial information as of December 31, 2018 and 2019 of the entities the Bank controls jointly: Artikos Chile S.A. Servipag Ltda. 2018 2019 2018 2019 MCh$ MCh$ MCh$ MCh$ Current assets 1,397 1,701 59,142 74,748 Non-current assets 1,503 1,944 15,371 18,005 Total Assets 2,900 3,645 74,513 92,753 Current liabilities 875 1,083 57,847 74,745 Non-current liabilities — 163 5,268 5,716 Total Liabilities 875 1,246 63,115 80,461 Equity 2,025 2,399 11,398 12,292 Total Liabilities and Equity 2,900 3,645 74,513 92,753 Operating income 3,544 3,643 42,679 43,259 Operating expenses (2,519 ) (2,452 ) (40,318 ) (41,708 ) Other income (expenses) 12 11 (339 ) (315 ) Profit before tax 1,037 1,202 2,022 1,236 Income tax 130 46 (621 ) (343 ) Profit for the year 1,167 1,248 1,401 893 (d) The reconciliation between opening and ending balance of investments in other companies that are not consolidated in 2017, 2018 and 2019 is detailed as follows: 2017 2018 2019 MCh$ MCh$ MCh$ Balance as of January 1, 30,314 35,771 42,252 Capital increase ― ― 671 Participation in net income 5,511 6,811 6,039 Dividends received (484 ) (411 ) (552 ) Other 430 81 32 Balance as of December 31, 35,771 42,252 48,442 (e) As of December 31, 2018 and 2019, no impairment has been recognized in these investments. |
Intangible Assets
Intangible Assets | 12 Months Ended |
Dec. 31, 2019 | |
Intangible assets and goodwill [abstract] | |
Intangible Assets | Intangible Assets: (a) As of December 31, 2018 and 2019 intangible assets are detailed as follows: Useful Life Average remaining Gross balance Accumulated Net balance 2018 2019 2018 2019 2018 2019 2018 2019 2018 2019 Years Years Years Years MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Other Intangible Assets: Goodwill ― ― ― ― 16,714 16,714 ― ― 16,714 16,714 Intangible assets arising from business combinations ― ― ― ― 56,249 56,249 (39,553 ) (39,553 ) 16,696 16,696 Software or computer programs 6 6 5 5 144,968 163,511 (92,907 ) (105,204 ) 52,061 58,307 Total 217,931 236,474 (132,460 ) (144,757 ) 85,471 91,717 (b) Changes in intangible assets during the 2018 and 2019 periods are as follows: Goodwill (1) Intangible assets arising (2) Software or Total MCh$ MCh$ MCh$ MCh$ Gross Balance Balance as of January 1, 2018 16,714 56,249 122,480 195,443 Acquisitions ― ― 23,512 23,512 Disposals ― ― (1,024 ) (1,024 ) Impairment loss ― ― ― ― Balance as of December 31, 2018 16,714 56,249 144,968 217,931 Acquisitions ― ― 20,928 20,928 Disposals ― ― (1,759 ) (1,759 ) Reclassification ― ― (276 ) (276 ) Impairment loss ― ― (350 ) (350 ) Balance as of December 31, 2019 16,714 56,249 163,511 236,474 Accumulated Amortization Balance as of January 1, 2018 ― (39,553 ) (83,435 ) (122,988 ) Amortization for the year ― ― (10,496 ) (10,496 ) Disposals ― ― 1,024 1,024 Balance as of December 31, 2018 ― (39,553 ) (92,907 ) (132,460 ) Amortization for the year ― ― (12,875 ) (12,875 ) Disposals ― ― 316 316 Reclassification ― ― 262 262 Balance as of December 31, 2019 ― (39,553 ) (105,204 ) (144,757 ) Net balance as of December 31, 2018 16,714 16,696 52,061 85,471 Net balance as of December 31, 2019 16,714 16,696 58,307 91,717 (1) Goodwill corresponds mainly to business combination with Citibank Chile whose amount is of MCh$12,576 that represents the value of synergies to be generated in the combination process and the acquisition of know-how. (2) Intangible assets arising from business combinations include assets with indefinite useful lives acquired in the business combination with Citibank Chile. As of December 31, 2018 and 2019, the Bank had made the following commitments for technological developments: Amount of Commitment 2018 2019 MCh$ MCh$ Software and licenses 11,806 7,151 (c) Impairment testing of Goodwill For goodwill impairment purposes, testing is carried out at the level of business segments described above and in Note No. 5 to the financial statements. This methodology is in line with IAS 36, where business segments represent the lowest level within the entity at which the goodwill is monitored for internal management purposes. Accordingly, for impairment testing purposes, goodwill acquired through business combinations has been allocated to four individual business segments, as follows: 2018 2019 Business Segments MCh$ MCh$ Retail 5,928 5,928 Wholesale 2,135 2,135 Treasury and money market operations 4,513 4,513 Subsidiaries 4,138 4,138 Total 16,714 16,714 Below are the key assumptions used for determining the value in use for impairment testing purposes: ● The Bank determines the recoverable amount of its business segments on the basis of value in use and employs a discounted cash flows ("DCF") valuation model. The DCF model determines the present value of the estimated future earnings that would be distributed to shareholders, once the respective regulatory capital requirements are satisfied. ● For purposes of the goodwill impairment testing, the DCF model uses earnings projections for a ten-year period. A ten-year period is deemed as the Bank assumes that over that period it is possible to achieve the goals set in the long-term business strategy. ● Earnings projections result from business growth, particularly associated with projected expansion rates for the local economy, the industry's loan book and the Bank's strategic goals. Then, based on historical data and a linear regression analysis, the Bank determines a multiplier of loan expansion (real terms) over GDP growth for the local economy. Currently, this multiplier is approximately 1.9 times and is expected to decrease overtime as long as banking penetration increases across the diverse business segments. · Following the estimation of growth rates for the economy and the banking industry, expansion rates of the Bank's loan book are determined by considering the achievement of the Bank's long-term strategic goals. Therefore, real growth rates are considered to be slightly higher than the industry rates within the ten-year period, assuming that a market share of 17.8% is achieved at year three and remains constant onwards. (c) Impairment testing of Goodwill, continued: ● For purposes of business segments valuation, the DCF model considers discount rates that are determined by carrying out a linear regression analysis based on historical data of monthly stock returns for the Bank and the market portfolio or overall stock index (IGPA index in Chile). In order to do this, an index linear model is applied, which is widely used in finance for these purposes. After estimating the model parameters (alpha and beta), the Capital Asset Pricing Model ("CAPM") is utilized in order to determine the cost of equity or discount rate for shareholders' cash flows. When using CAPM, a 7.3% discount rate is computed by assuming equilibrium scenarios for risk-free rates and inflation. We also use alternative methods, such as historical return-on-equity (net income over market capitalization) and implicit return-on-equity on price-to-earnings ratios projected by market analysts. By means of these methods, the Bank is able to reach discount rates of 7.3% and 7.0%, respectively, and using such evidence, the Bank determined a cost of equity of 9.0% as a baseline scenario for discount rates used for valuation purposes. The Bank also carries out a sensitivity analysis by setting discounts rates of 8.0% and 10.0%. (d) Annual goodwill impairment test: The annual goodwill impairment tests for the years ended December 31, 2018 and 2019 did not result in an impairment loss on the goodwill of the Bank's business segments as their economic values were higher than their carrying amounts. (e) Restrictions: Banco de Chile and its subsidiaries have no restrictions on intangible assets as of December 31, 2018 and 2019. Additionally, no intangible assets have been pledged as collateral to secure the fulfillment of any financial obligation. Moreover, there are no amounts owed by the Bank on intangible assets as of the aforementioned dates. |
Property and Equipment and Leas
Property and Equipment and Leased Assets and Lease Liabilities | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of detailed information about property, plant and equipment [abstract] | |
Property and Equipment and Leased assets and lease liabilities | Property and Equipment and Leased assets and lease liabilities: (a) The properties and equipment as of December 31, 2018 and 2019 are composed as follows: Useful Life Average remaining Gross balance Accumulated Net balance 2018 2019 2018 2019 2018 2019 2018 2019 2018 2019 Years Years Years Years MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Type of property and equipment: Land and Buildings 26 26 21 21 320,585 301,619 (150,099 ) (136,394 ) 170,486 165,225 Equipment 5 5 3 4 183,220 207,605 (148,455 ) (162,560 ) 34,765 45,045 Others 7 7 4 4 53,500 55,519 (42,879 ) (45,527 ) 10,621 9,992 Total 557,305 564,743 (341,433 ) (344,481 ) 215,872 220,262 (b) As of December 31, 2018 and 2019, this account and its changes are detailed as follows: Land and Equipment Other Total MCh$ MCh$ MCh$ MCh$ (a.1) Cost Balance as of January 1, 2018 311,428 184,369 52,552 548,349 Reclassification — — — — Additions 12,589 12,702 2,774 28,065 Disposals/write-downs/sales (3,145 ) (13,845 ) (1,785 ) (18,775 ) Impairment loss (*) (287 ) (6 ) (41 ) (334 ) Balance as of December 31, 2018 320,585 183,220 53,500 557,305 Balance as of January 1, 2019 320,585 183,220 53,500 557,305 Reclassification (25,654 ) (37 ) — (25,691 ) Additions 12,555 28,118 2,839 43,512 Disposals/write-downs/sales (5,437 ) (3,115 ) (762 ) (9,314 ) Impairment loss (*) (***) (430 ) (581 ) (58 ) (1,069 ) Balance as of December 31, 2019 301,619 207,605 55,519 564,743 (a.2) Accumulated Depreciation Balance as of January 1, 2018 (142,768 ) (148,006 ) (41,316 ) (332,090 ) Depreciation charges of the year (*) (**) (9,193 ) (14,291 ) (3,333 ) (26,817 ) Sales and disposals of the year 1,862 13,842 1,770 17,474 Accumulated Depreciation as of December 31, 2018 (150,099 ) (148,455 ) (42,879 ) (341,433 ) Balance as of January 1, 2019 (150,099 ) (148,455 ) (42,879 ) (341,433 ) Reclassification 21,278 37 — 21,315 Depreciation charges of the year (*) (**) (8,613 ) (16,819 ) (3,403 ) (28,835 ) Sales and disposals of the year 1,040 2,692 740 4,472 Transfers — (15 ) 15 — Accumulated Depreciation as of December 31, 2019 (136,394 ) (162,560 ) (45,527 ) (344,481 ) (*) See Note No. 36 about Depreciation, Amortization and Impairment. (**) It does not include depreciation for the year for Investment Properties, which it registered under the item “Investment Properties” for an amount of Ch$359 million (Ch$368 million in 2018). (***) It does not include charge-off provisions for Property and Equipment for an amount of Ch$949 million. (c) The composition of the rights over leased assets as of December 31, 2019 is as follows: Gross Balance Accumulated Net Balance Categories 2019 2019 2019 MCh$ MCh$ MCh$ Buildings 130,853 (18,722 ) 112,131 Floor space for ATMs 41,960 (9,091 ) 32,869 Improvements to leased properties 27,254 (21,589 ) 5,665 Total 200,067 (49,402 ) 150,665 (d) The changes of the rights over leased assets as of December 31, 2019 is as follows: 2019 Buildings Floor space Improvements to Total MCh$ MCh$ MCh$ MCh$ Gross Balance Balance as of January 1, 2019 116,577 27,920 — 144,497 Reclassification — — 26,332 26,332 Additions 14,276 14,040 1,725 30,041 Write-downs — — (803 ) (803 ) Total 130,853 41,960 27,254 200,067 Accumulated Depreciation Balance as of January 1, 2019 — — — — Reclassification — — (21,546 ) (21,546 ) Depreciation of the year (*) (18,722 ) (9,091 ) (659 ) (28,472 ) Write-downs — — 616 616 Total (18,722 ) (9,091 ) (21,589 ) (49,402 ) Balance as of December 31, 2019 112,131 32,869 5,665 150,665 (*) See Note No.36 Depreciation, Amortization and Impairment. (e) The following are the future maturities of the lease liabilities as of December 31, 2019: Up to 1 Over 1 Over 3 Over 1 Over 3 Over 5 Total Lease associated with: MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Buildings 1,726 3,519 15,286 37,063 24,899 38,526 121,019 ATMs 809 1,618 7,131 18,125 5,403 679 33,765 Total 2,535 5,137 22,417 55,188 30,302 39,205 154,784 The Bank and its subsidiaries maintain contracts with certain renewal options and for which there is reasonable certainty that said option shall be carried out. In such cases, the lease period used to measure the liability and assets corresponds to an estimate of future renewals. The changes of the obligations under capitalized leases and cash flows are as follows: Total cash flow Lease liability MCh$ Balances as of January 1, 2019 144,497 Liabilities for new lease agreements 24,431 Interest expenses 2,574 Payments of capital and interests (29,374 ) Others 3,885 Balances as of December 31, 2019 146,013 |
Investment Properties
Investment Properties | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of detailed information about investment property [abstract] | |
Investment Properties | 16. Investment Properties: (f) The future cash flows related to short-term lease agreements in effect as of December 31, 2019 correspond to Ch$8,611 million. 2017 2018 2019 MCh$ MCh$ MCh$ Net Balance as of January 1, 14,674 14,306 13,938 Additions resulting from business combinations ― ― ― Reclassifications ― ― (389 ) Disposals ― ― ― Depreciation charges in the period (368 ) (368 ) (359 ) Impairment ― ― ― Net Balance as of December 31, 14,306 13,938 13,190 Estimated useful lives applied by the Bank are presented in Note No. 2(m) on Property and equipment. As of December 31, 2019, the fair value of the investment properties held by the Bank is Ch$46,613 million (Ch$46,562 million as of December 31, 2018). In 2019, the Bank earned income of Ch$6,136 million (Ch$6,265 million in 2018) renting out their investment properties. In the same period the Bank incurred corresponding expenses of Ch$2,794 million and Ch$3,131 million per year in 2018 and 2019. |
Current Taxes and Deferred Taxe
Current Taxes and Deferred Taxes | 12 Months Ended |
Dec. 31, 2019 | |
Major components of tax expense (income) [abstract] | |
Current Taxes and Deferred Taxes | 17. Current Taxes and Deferred Taxes: (a) Current Tax: The Bank and its subsidiaries at the end of each year, have constituted a First Category Income Tax Provision, which was determined based on current tax regulations, and has been reflected in the statement of financial position net of taxes to be recovered or payable, as applicable, as of December 31, 2018 and 2019, according to the following detail: 2018 2019 MCh$ MCh$ Income taxes 134,781 222,266 Less: Monthly prepaid taxes (PPM) (126,917 ) (143,200 ) Credit for training expenses (2,224 ) (1,900 ) Other (1,410 ) (1,234 ) Total tax (receivable) payable, net 4,230 75,932 2018 2019 MCh$ MCh$ Current tax assets 677 357 Current tax liabilities (4,907 ) (76,289 ) Total tax receivable (payable), net (4,230 ) (75,932 ) (b) Income Tax: The Bank's tax expense recorded for the years ended December 31, 2017, 2018 and 2019 is detailed as follows: 2017 2018 2019 MCh$ MCh$ MCh$ Income tax expense: Current year taxes 105,024 143,136 232,404 Tax from previous period (1,401 ) 2,574 (331 ) Subtotal 103,623 145,710 232,073 (Credit) charge for deferred taxes: Origin and reversal of temporary differences 20,043 11,435 (58,733 ) Effect of changes in tax rate (5,729 ) ― ― Subtotal 14,314 11,435 (58,733 ) Other (2,576 ) 2,623 321 Net charge to income for income taxes 115,361 159,768 173,661 Tax Rate 25.50 % 27.00 % 27.00 % (c) Reconciliation of effective tax rate: The following table reconciles the income tax rate to the effective rate applied to determine the Bank's income tax expense as of December 31, 2017, 2018 and 2019: 2017 2018 2019 Tax rate % MCh$ Tax rate % MCh$ Tax rate % MCh$ Income tax calculated on net income before tax 25.50 175,298 27.00 206,116 27.00 209,901 Subordinated Debt Payment (*) (5.67 ) (38,997 ) (3.21 ) (24,515 ) ― ― Additions or deductions (**) (2.88 ) (19,794 ) (4.18 ) (31,894 ) (5.10 ) (39,612 ) Effect of changes in tax rate (0.83 ) (5,729 ) ― ― ― ― Other 0.67 4,583 1.32 10,061 0.43 3,372 Effective rate and income tax expense 16.79 115,361 20.93 159,768 22.34 173,661 (*) The tax expense related to the subordinated debt held by SAOS S.A, it ended during the current fiscal year, as a result of the generation of sufficient resources to pay off the total debt. (**) The deductions of the tax rate for 2017, 2018 and 2019 mainly relate to permanent differences between tax and financial accounting rules. (d) Effect of deferred taxes on income and equity: The effects of deferred taxes on assets, liabilities and income accounts are detailed as follows: Balance as of Effect Balance as of Effect Balance as of January 1, 2018 Income Equity December 31, Income Equity December 31, MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Debit differences: Allowances for loan losses 138,643 3,232 ― 141,875 9,606 ― 151,481 Personnel provisions 12,521 756 ― 13,277 3,720 ― 16,997 Staff vacations 6,908 333 ― 7,241 203 ― 7,444 Accrued interest and indexation adjustments from past due loans 3,414 (182 ) ― 3,232 442 ― 3,674 Staff severance indemnities provision 1,457 (8 ) 35 1,484 (59 ) 66 1,491 Provisions of credit card expenses 8,955 858 ― 9,813 (1,592 ) ― 8,221 Provisions of accrued expenses 16,358 (9,450 ) ― 6,908 3,656 ― 10,564 Derivative instruments adjustments ― 1,356 ― 1,356 114 ― 1,470 Adjustment for valuation and impairment of financial assets at fair value through OCI ― (419 ) 1,365 946 ― (946 ) ― Leasing 32,549 669 ― 33,218 8,574 ― 41,792 Other adjustments 6,246 (5,233 ) 1 1,014 35,510 (1 ) 36,523 Total debit differences 227,051 (8,088 ) 1,401 220,364 60,174 (881 ) 279,657 Credit differences: Depreciation of property and equipment and investment properties 14,281 709 ― 14,990 534 ― 15,524 Adjustment for valuation and impairment of financial assets at fair value through OCI 2,392 ― (2,392 ) ― (937 ) 3,382 2,445 Transitory assets 5,486 28 ― 5,514 2,815 ― 8,329 Derivative instruments adjustments 4,378 (4,378 ) ― ― ― ― ― Accrued interest to effective rate 1,603 (39 ) ― 1,564 (183 ) ― 1,381 Advance payment of lump-sum under union contracts ― 6,699 ― 6,699 (3,365 ) ― 3,334 Intangible assets amortization 5,503 ― ― 5,503 ― ― 5,503 Other adjustments 8,943 328 ― 9,271 2,577 ― 11,848 Total credit differences 42,586 3,347 (2,392 ) 43,541 1,441 3,382 48,364 Total Assets (Liabilities), net 184,465 (11,435 ) 3,793 176,823 58,733 (4,263 ) 231,293 |
Other Assets
Other Assets | 12 Months Ended |
Dec. 31, 2019 | |
Miscellaneous assets [abstract] | |
Other Assets | 18. Other Assets: As of December 31, 2018 and 2019, other assets are detailed as follows: 2018 2019 MCh$ MCh$ Assets held for leasing (*) 101,848 139,389 Assets received or awarded as payment (***): Assets awarded at judicial sale 14,171 10,967 Assets received in lieu of payment 10,700 7,770 Provisions for assets received in lieu of payment (1,915 ) (1,349 ) Subtotal 22,956 17,388 Other Assets Deposit by derivatives margin 336,548 475,852 Other accounts and notes receivable 29,080 44,671 Documents intermediated (**) 28,478 40,911 Prepaid expenses 37,394 34,934 Recoverable income taxes 44,665 33,136 Commissions receivable 12,155 14,191 Other 38,567 42,528 Subtotal 526,887 686,223 Total 651,691 843,000 (*) These correspond to property and equipment to be given under a financial lease. (**) Documents intermediated refers to securities lending agreements managed by the Bank's subsidiary Banchile Corredores de Bolsa S.A. (***) Assets received in lieu of payment are valued at fair value, which is calculated considering the lesser between appraised value and value of award, less cost of sell. |
Current Accounts and Other Dema
Current Accounts and Other Demand Deposits | 12 Months Ended |
Dec. 31, 2019 | |
Current Accounts and Other Demand Deposits [abstract] | |
Current Accounts and Other Demand Deposits | 19. Current Accounts and Other Demand Deposits: As of December 31, 2018 and 2019, current accounts and other demand deposits are detailed as follows: 2018 2019 MCh$ MCh$ Current accounts 7,725,465 8,951,527 Other demand deposits 1,143,414 1,662,950 Other deposits and accounts 715,609 711,656 Total 9,584,488 11,326,133 |
Saving Accounts and Time Deposi
Saving Accounts and Time Deposits | 12 Months Ended |
Dec. 31, 2019 | |
Deposits from customers [abstract] | |
Saving Accounts and Time Deposits | 20. Saving Accounts and Time Deposits: As of December 31, 2018 and 2019, saving accounts and time deposits are detailed as follows: 2018 2019 MCh$ MCh$ Time deposits 10,343,922 10,537,614 Term savings accounts 224,303 239,850 Other term balances payable 87,949 79,154 Total 10,656,174 10,856,618 |
Borrowings from Financial Insti
Borrowings from Financial Institutions | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of detailed information about borrowings [abstract] | |
Borrowings from Financial Institutions | 21. Borrowings from Financial Institutions: As of December 31, 2018 and 2019, borrowings from financial institutions are detailed as follows: 2018 2019 MCh$ MCh$ Domestic banks Banco do Brasil 7,001 3,900 Banco Santander — 2,314 Banco Security 374 — Subtotal domestic banks 7,375 6,214 Foreign banks Foreign trade financing Citibank N.A. 212,329 285,974 Bank of New York Mellon 152,828 224,812 Sumitomo Mitsui Banking 196,571 213,534 Bank of America 210,279 194,704 Wells Fargo Bank 225,087 139,845 The Bank of Nova Scotia 122,080 133,539 Zürcher Kantonalbank 55,621 78,872 Standard Chartered Bank 296 70,128 JP Morgan Chase Bank 62,557 60,150 Toronto Dominion Bank 84,056 22,556 ING Bank — 10,987 Commerzbank AG 1,084 2,201 Mizuho Bank Ltd. 63,651 — Others 24 89 Borrowings and other obligations Wells Fargo Bank 104,637 113,377 Citibank N.A. 15,940 6,198 ING Bank NV — 88 Deutsche Bank AG 161 — Standard Chartered Bank 1,612 — Bank of America 486 — Others 85 9 Subtotal foreign banks 1,509,384 1,557,063 Chilean Central Bank — — Total 1,516,759 1,563,277 |
Debt Issued
Debt Issued | 12 Months Ended |
Dec. 31, 2019 | |
Debt Issued [abstract] | |
Debt Issued | 22. Debt Issued: As of December 31, 2018 and 2019, Debt issued is detailed as follows: 2018 2019 Mortgage bonds 16,368 10,898 Bonds 6,772,990 7,912,621 Subordinated bonds 686,194 889,895 Total 7,475,552 8,813,414 During the year ended as of December 31, 2019, Banco de Chile issued bonds by an amount of Ch$2,625,176 million, from which corresponds to Short-Term Bonds, Current Bonds and Subordinated Bonds by an amount of Ch$944,413 million, Ch$1,465,406 and Ch$215,357 million respectively, according to the following details: Short-term Bonds Counterparty Currency Amount MCh$ Annual interest rate % Issued date Maturity date Citibank N.A. USD 40,937 2.91 04/01/2019 04/04/2019 Wells Fargo Bank USD 40,264 2.85 17/01/2019 24/04/2019 Citibank N.A. USD 33,598 2.80 22/01/2019 22/04/2019 Citibank N.A. USD 53,250 2.67 04/04/2019 02/07/2019 Citibank N.A. USD 27,886 2.67 09/04/2019 09/08/2019 Citibank N.A. USD 33,257 2.66 11/04/2019 11/07/2019 Wells Fargo Bank USD 33,257 2.68 11/04/2019 11/10/2019 Citibank N.A. USD 33,051 2.66 12/04/2019 22/07/2019 Wells Fargo Bank USD 3,966 2.67 12/04/2019 12/09/2019 Citibank N.A. USD 27,184 2.67 29/04/2019 29/10/2019 Wells Fargo Bank USD 33,838 2.60 30/04/2019 30/07/2019 Citibank N.A. USD 34,795 2.61 17/05/2019 18/11/2019 Citibank N.A. USD 34,842 2.59 23/05/2019 22/08/2019 Bank of America USD 34,208 2.50 21/06/2019 22/08/2019 Wells Fargo Bank USD 3,421 2.50 24/06/2019 25/07/2019 Citibank N.A. USD 547 2.40 24/06/2019 15/10/2019 Citibank N.A. USD 13,620 2.50 25/06/2019 05/08/2019 Citibank N.A. USD 13,575 2.51 28/06/2019 01/08/2019 Citibank N.A. USD 34,070 2.38 11/07/2019 09/10/2019 Citibank N.A. USD 29,883 2.25 09/08/2019 12/11/2019 Wells Fargo Bank USD 3,525 2.03 13/08/2019 08/05/2020 Citibank N.A. USD 35,676 2.20 22/08/2019 21/11/2019 Wells Fargo Bank USD 21,350 2.20 10/09/2019 09/12/2019 Wells Fargo Bank USD 7,117 2.20 11/09/2019 16/12/2019 Wells Fargo Bank USD 28,466 2.20 11/09/2019 10/12/2019 Citibank N.A. USD 15,799 2.10 07/10/2019 07/01/2020 Citibank N.A. USD 36,206 2.07 09/10/2019 09/01/2020 Citibank N.A. USD 36,212 2.00 24/10/2019 29/01/2020 Bank of America USD 36,212 2.00 24/10/2019 24/01/2020 Citibank N.A. USD 18,200 2.00 25/10/2019 03/02/2020 Citibank N.A. USD 31,819 1.91 04/11/2019 13/01/2020 Citibank N.A. USD 31,239 1.97 12/11/2019 12/02/2020 Citibank N.A. USD 4,554 2.05 22/11/2019 07/08/2020 Citibank N.A. USD 7,989 2.05 22/11/2019 07/08/2020 Citibank N.A. USD 18,750 2.07 04/12/2019 07/08/2020 Citibank N.A. USD 23,268 2.05 09/12/2019 09/04/2020 Wells Fargo Bank USD 3,877 2.04 09/12/2019 05/06/2020 Wells Fargo Bank USD 15,395 2.04 11/12/2019 27/03/2020 Citibank N.A. USD 1,792 2.03 30/12/2019 20/07/2020 Wells Fargo Bank USD 7,518 2.10 30/12/2019 15/12/2020 Total as of December 31, 2019 944,413 Current Bonds Long-Term Series Currency Amount MCh$ Terms Years Annual issue rate % Issue date Maturity date BCHIEC0817 UF 83,470 5 1.55 30/01/2019 30/01/2024 BCHIED1117 UF 41,711 5 1.54 14/03/2019 14/03/2024 BCHIED1117 UF 5,587 5 1.45 19/03/2019 19/03/2024 BCHIED1117 UF 36,317 5 1.45 20/03/2019 20/03/2024 BCHIDW1017 UF 84,359 2 0.93 09/05/2019 09/05/2021 BCHIDW1017 UF 57,091 2 0.57 24/06/2019 24/06/2021 BCHIEH0917 UF 58,867 7 1.04 01/07/2019 01/07/2026 BCHIEB1117 UF 86,682 4 0.83 01/07/2019 01/07/2023 BCHIEH0917 UF 29,514 7 1.00 02/07/2019 02/07/2026 BCHIEI1117 UF 60,697 7 0.66 19/07/2019 19/07/2026 BCHIEI1117 UF 22,063 7 0.51 30/07/2019 30/07/2026 BCHIEI1117 UF 8,613 7 0.45 01/08/2019 01/08/2026 BCHICC0815 UF 71,703 12 0.54 05/08/2019 05/08/2031 BCHICA1015 UF 71,221 11 0.54 05/08/2019 05/08/2030 BCHICB1215 UF 14,496 11 0.44 07/08/2019 07/08/2030 BCHIEI1117 UF 7,764 7 0.30 07/08/2019 07/08/2026 BCHIEI1117 UF 20,212 7 0.28 08/08/2019 08/08/2026 BCHICB1215 UF 57,926 11 0.45 08/08/2019 08/08/2030 BCHIEI1117 UF 3,108 7 0.29 08/08/2019 08/08/2026 BCHIBV1015 UF 71,063 10 0.37 20/08/2019 20/08/2029 BCHIEV1117 UF 132,366 10 0.34 05/09/2019 05/09/2029 BCHIEK1117 UF 117,493 13 1.38 11/12/2019 11/12/2032 Subtotal UF 1,142,323 BONO JPY JPY 63,041 20 1.00 14/05/2019 14/05/2039 BONO HKD HKD 32,725 12 2.90 19/07/2019 19/07/2031 BONO AUD AUD 36,519 20 3.50 28/08/2019 28/08/2039 BONO PEN PEN 29,969 15 5.40 04/09/2019 04/09/2034 BONO AUD AUD 24,547 15 3.13 09/09/2019 09/09/2034 BONO NOK NOK 60,951 10 3.50 07/11/2019 07/11/2029 BONO AUD AUD 39,067 20 3.55 11/11/2019 11/11/2039 BONO JPY JPY 36,264 10 1.00 19/11/2019 19/11/2029 Subtotal Others currency 323,083 Total as of December 31, 2019 1,465,406 Subordinated bonds Series Currency Amount MCh$ Terms Years Annual issue rate % Issue date Maturity date UCHI-J1111 UF 61,471 23 1.05 20/08/2019 20/08/2042 UCHI-J1111 UF 65,973 23 1.04 20/08/2019 20/08/2042 UCHI-J1111 UF 48,799 23 0.99 21/08/2019 21/08/2042 UCHI-I1111 UF 39,114 21 0.96 24/09/2019 24/09/2040 Total as of December 31, 2019 215,357 During the year ended as of December 31, 2018, Banco de Chile issued bonds by an amount of Ch$2,157,587 million, from which corresponds to Short-Term Bonds and Current Bonds by an amount of Ch$940,720 million and Ch$1,216,867 million respectively, according to the following details: Short-term Bonds Counterparty Currency Amount MCh$ Annual interest rate % Issued date Maturity date Wells Fargo Bank USD 2,998 1.85 06/02/2018 08/05/2018 Wells Fargo Bank USD 2,998 1.93 06/02/2018 08/06/2018 Wells Fargo Bank USD 2,998 1.98 06/02/2018 09/07/2018 Wells Fargo Bank USD 2,998 2.05 06/02/2018 06/08/2018 Wells Fargo Bank USD 2,998 2.05 06/02/2018 08/08/2018 Wells Fargo Bank USD 29,716 2.25 28/02/2018 28/06/2018 Wells Fargo Bank USD 1,723 2.40 28/02/2018 29/08/2018 Citibank N.A. USD 6,894 2.60 28/02/2018 25/02/2019 Wells Fargo Bank USD 13,780 2.30 02/03/2018 02/07/2018 Wells Fargo Bank USD 4,489 2.30 05/03/2018 06/07/2018 Citibank N.A. USD 18,080 2.22 07/03/2018 05/06/2018 Wells Fargo Bank USD 1,747 2.25 13/03/2018 11/06/2018 Wells Fargo Bank USD 3,006 2.45 14/03/2018 11/09/2018 Wells Fargo Bank USD 606 2.60 15/03/2018 14/12/2018 Wells Fargo Bank USD 605 2.60 29/03/2018 28/09/2018 Wells Fargo Bank USD 60,343 2.60 05/04/2018 04/09/2018 Wells Fargo Bank USD 30,254 2.50 06/04/2018 01/08/2018 Wells Fargo Bank USD 1,743 2.40 10/04/2018 09/08/2018 Wells Fargo Bank USD 8,918 2.75 13/04/2018 12/04/2019 Wells Fargo Bank USD 8,946 2.75 17/04/2018 16/04/2019 Citibank N.A. USD 19,046 2.36 08/05/2018 08/08/2018 Citibank N.A. USD 31,665 2.38 09/05/2018 07/08/2018 Citibank N.A. USD 1,873 2.37 10/05/2018 08/08/2018 Citibank N.A. USD 12,250 2.36 14/05/2018 15/08/2018 Wells Fargo Bank USD 18,968 2.70 11/06/2018 01/04/2019 Wells Fargo Bank USD 28,973 2.42 13/06/2018 24/07/2018 Wells Fargo Bank USD 15,991 2.45 19/06/2018 20/09/2018 Citibank N.A. USD 12,778 2.41 20/06/2018 20/09/2018 Citibank N.A. USD 31,944 2.45 20/06/2018 03/10/2018 Wells Fargo Bank USD 3,194 2.65 20/06/2018 13/02/2019 Citibank N.A. USD 3,885 2.50 22/06/2018 23/11/2018 Wells Fargo Bank USD 19,495 2.20 28/06/2018 27/07/2018 Wells Fargo Bank USD 4,875 2.30 03/07/2018 11/09/2018 Wells Fargo Bank USD 29,556 2.30 06/07/2018 10/09/2018 Wells Fargo Bank USD 62,079 2.45 17/07/2018 17/10/2018 Wells Fargo Bank USD 32,729 2.45 24/07/2018 22/10/2018 Wells Fargo Bank USD 19,283 2.45 27/07/2018 29/10/2018 Wells Fargo Bank USD 31,919 2.50 30/07/2018 29/11/2018 Wells Fargo Bank USD 16,039 2.52 01/08/2018 06/12/2018 Citibank N.A. USD 25,787 2.50 02/08/2018 06/12/2018 Wells Fargo Bank USD 10,859 2.47 07/08/2018 14/12/2018 Wells Fargo Bank USD 3,238 2.46 09/08/2018 14/12/2018 Wells Fargo Bank USD 17,070 2.53 31/08/2018 28/12/2018 Wells Fargo Bank USD 6,929 2.58 04/09/2018 06/02/2019 Citibank N.A. USD 34,646 2.57 04/09/2018 04/01/2019 Citibank N.A. USD 4,902 2.24 07/09/2018 09/10/2018 Citibank N.A. USD 34,525 2.25 07/09/2018 09/10/2018 Citibank N.A. USD 1,742 2.23 10/09/2018 09/10/2018 Wells Fargo Bank USD 3,484 2.65 10/09/2018 11/03/2019 Wells Fargo Bank USD 6,026 2.45 11/09/2018 06/12/2018 Bofa Merrill Lynch USD 18,421 2.62 14/09/2018 01/03/2019 Wells Fargo Bank USD 33,464 2.48 20/09/2018 20/12/2018 Wells Fargo Bank USD 1,322 2.70 03/10/2018 05/04/2019 Wells Fargo Bank USD 13,591 2.78 12/10/2018 25/04/2019 Wells Fargo Bank USD 6,694 2.55 16/10/2018 16/01/2019 Citibank N.A. USD 6,713 2.50 17/10/2018 04/01/2019 Citibank N.A. USD 34,208 2.65 23/10/2018 22/01/2019 Citibank N.A. USD 20,483 2.84 11/12/2018 11/03/2019 Wells Fargo Bank USD 2,236 2.90 12/12/2018 12/04/2019 Wells Fargo Bank USD 34,555 2.67 20/12/2018 19/02/2019 Wells Fargo Bank USD 10,466 2.97 27/12/2018 02/05/2019 Wells Fargo Bank USD 6,977 2.97 27/12/2018 29/04/2019 Total as of December 31, 2018 940,720 Current Bonds Long-Term Series Currency Amount MCh$ Terms Years Annual issue rate % Issue date Maturity date BCHIEA0617 UF 106,001 6 1.60 03/01/2018 03/01/2024 BCHIBN1015 UF 114,212 12 2.90 24/01/2018 24/01/2030 BCHIEF1117 UF 79,612 8 1.80 09/02/2018 09/02/2026 BCHIEP0717 UF 104,550 11 2.00 13/02/2018 13/02/2029 BCHIBT1215 UF 57,936 14 3.00 13/03/2018 13/03/2032 BCHIBW1215 UF 59,081 14 2.20 14/08/2018 14/08/2032 BCHIDY0917 UF 55,619 5 1.24 16/08/2018 16/08/2023 BCHIEN1117 UF 109,543 10 2.08 25/09/2018 25/09/2028 BCHIDX0817 UF 109,311 5 1.70 22/10/2018 22/10/2023 BCHIDY0917 UF 12,025 5 1.74 22/10/2018 22/10/2023 BCHIDY0917 UF 15,299 5 1.75 22/10/2018 22/10/2023 BCHIBY1215 UF 59,374 15 2.29 24/10/2018 24/10/2033 BCHIBX0815 UF 58,998 15 2.29 24/10/2018 24/10/2033 BCHIBZ0815 UF 59,987 15 2.23 07/12/2018 07/12/2033 BCHIEJ0717 UF 82,878 9 1.99 12/12/2018 12/12/2027 Subtotal UF 1,084,426 BCHIDH0916 CLP 20,370 4 3.80 11/06/2018 11/06/2022 BONO USD USD 32,842 10 4.26 28/09/2018 28/09/2028 BONO CHF CHF 79,229 5 0.57 26/10/2018 26/10/2023 Subtotal other currencies 132,441 Total as of December 31, 2018 1,216,867 During the year ended December 31, 2018, there were no subordinated bonds issued. |
Other Financial Obligations
Other Financial Obligations | 12 Months Ended |
Dec. 31, 2019 | |
Other Financial Obligations [Abstract] | |
Other Financial Obligations | Other Financial Obligations: As of December 31, 2018 and 2019, other financial institutions are detailed as follows: 2018 2019 Other Chilean obligations 95,912 138,575 Public sector obligations 22,102 17,654 Total 118,014 156,229 |
Provisions
Provisions | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of other provisions [abstract] | |
Provisions | Provisions: (a) As of December 31, 2018 and 2019, provisions are detailed as follows: 2018 MCh$ 2019 MCh$ Provision for minimum dividends 178,462 177,902 Provisions for contingent loan risks 25,016 24,971 Provisions for other contingencies 468 501 Total 203,946 203,374 (b) The following table details the changes in provisions during 2018 and 2019: Minimum dividends MCh$ Contingent loan risks MCh$ Other MCh$ Total MCh$ Balances as of January 1, 2018 172,804 22,975 21,733 217,512 Provisions established 178,462 2,041 3 180,506 Provisions used (172,804 ) ― (19,347 ) (192,151 ) Provisions released ― ― (1,921 ) (1,921 ) Balances as of December 31, 2018 178,462 25,016 468 203,946 Balances as of January 1, 2019 178,462 25,016 468 203,946 Provisions established 177,902 ― 33 177,935 Provisions used (178,462 ) (45 ) ― (178,507 ) Provisions released ― ― ― ― Balances as of December 31, 2019 177,902 24,971 501 203,374 (c) Impairment losses on contingent loan risks: Provisions for contingent loan risks are detailed as follows: Outstanding exposure ECL 2018 MCh$ 2019 MCh$ 2018 MCh$ 2019 MCh$ Foreign office guarantees and standby letters of credit 341,676 280,838 428 63 Confirmed foreign letters of credit 56,764 94,673 29 4 Issued foreign letters of credit 388,396 316,916 93 51 Performance guarantees 2,232,682 2,283,390 4,080 4,037 Undrawn credit lines 7,769,325 7,870,260 20,386 20,816 Other commitments 46,561 155,163 ― ― Total 10,835,404 11,001,240 25,016 24,971 An analysis of changes in the gross carrying amount and the corresponding allowance for impairment losses in relation to each contingent loan risk is, as follow: a. Foreign office guarantees and standby letters of credit: The table below shows the credit quality and the maximum exposure to credit risk based on the Bank’s internal credit rating system and year-end stage classification as of December 31, 2018 and 2019. As of December 31, 2018 Stage 1 Stage 2 Stage 3 Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Total Normal 332,965 138 8,226 - - - 341,329 Substandard - - 347 - - - 347 Non-complying - - - - - - - Total 332,965 138 8,573 - - - 341,676 As of December 31, 2019 Stage 1 Stage 2 Stage 3 Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Total Normal 249,306 395 30,761 - - - 280,462 Substandard - - 376 - - - 376 Non-complying - - - - - - - Total 249,306 395 31,137 - - - 280,838 An analysis of changes in the outstanding exposures on foreign office guarantees and standby letters of credit during the 2018 and 2019 periods are as follows: Stage 1 Stage 2 Stage 3 Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Total Outstanding exposure as of January 1, 2018 274,563 84 10,388 - - - 285,035 Net change on exposures 33,660 24 (4,139 ) - 132 - 29,677 Transfer to Stage 1 4,994 - (4,855 ) - (139 ) - - Transfer to Stage 2 (6,513 ) - 6,513 - - - - Transfer to Stage 3 - - - - - - - Foreign exchange adjustments 26,261 30 666 - 7 - 26,964 Exposure as of December 31, 2018 332,965 138 8,573 - - - 341,676 Outstanding exposure as of January 1, 2019 332,965 138 8,573 - - - 341,676 Net change on exposures (47,268 ) 273 7,604 7 - - (39,384 ) Transfer to Stage 1 5,243 7 (5,243 ) (7 ) - - - Transfer to Stage 2 (22,454 ) - 22,454 - - - - Transfer to Stage 3 - - - - - - - Foreign exchange adjustments (19,180 ) (23 ) (2,251 ) - - - (21,454 ) Exposure as of December 31, 2019 249,306 395 31,137 - - - 280,838 An analysis of changes in ECL exposures on foreign office guarantees and standby letters of credit during the 2018 and 2019 periods are as follows: Stage 1 Stage 2 Stage 3 Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Total MCh$ ECL exposures as of January 1, 2018 256 - - - - - 256 Net change on exposures 152 (1 ) - - 57 - 208 Transfer to Stage 1 60 - - - (60 ) - - Transfer to Stage 2 (14 ) - 14 - - - - Transfer to Stage 3 - - - - - - - Impact on year-end ECL of exposures transferred between stages during the year (56 ) - (14 ) - - - (70 ) Foreign exchange adjustments 30 1 - - 3 - 34 ECL as of December 31, 2018 428 - - - - - 428 ECL exposures as of January 1, 2019 428 - - - - - 428 Net change on exposures (366 ) - 18 - - - (348 ) Transfer to Stage 1 8 - (8 ) - - - - Transfer to Stage 2 (6 ) - 6 - - - - Transfer to Stage 3 - - - - - - - Impact on year-end ECL of exposures transferred between stages during the year (1 ) - - - - - (1 ) Changes to models and assumptions (32 ) - 7 - - - (25 ) Foreign exchange adjustments 10 - (1 ) - - - 9 ECL as of December 31, 2019 41 - 22 - - - 63 b. Confirmed foreign letters of credit: The table below shows the credit quality and the maximum exposure to credit risk based on the Bank’s internal credit rating system and year-end stage classification. As of December 31, 2018 Stage 1 Stage 2 Stage 3 Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Total MCh$ Normal 56,764 - - - - - 56,764 Substandard - - - - - - - Non-complying - - - - - - - Total 56,764 - - - - - 56,764 As of December 31, 2019 Stage 1 Stage 2 Stage 3 Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Total Normal 94,673 - - - - - 94,673 Substandard - - - - - - - Non-complying - - - - - - - Total 94,673 - - - - - 94,673 An analysis of changes in the outstanding exposures on confirmed foreign letters of credit during the 2018 and 2019 periods are as follows: Stage 1 Stage 2 Stage 3 Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Total Outstanding exposure as of January 1, 2018 64,970 - - - - - 64,970 Net change on exposures (15,455 ) - 8 - - - (15,447 ) Transfer to Stage 1 - - - - - - - Transfer to Stage 2 - - - - - - - Transfer to Stage 3 - - - - - - - Foreign exchange adjustments 7,249 - (8 ) - - - 7,241 Exposure as of December 31, 2018 56,764 - - - - - 56,764 Outstanding exposure as of January 1, 2019 56,764 - - - - - 56,764 Net change on exposures 46,648 - - - - - 46,648 Transfer to Stage 1 - - - - - - - Transfer to Stage 2 - - - - - - - Transfer to Stage 3 - - - - - - - Foreign exchange adjustments (8,739 ) - - - - - (8,739 ) Exposure as of December 31, 2019 94,673 - - - - - 94,673 An analysis of changes in ECL exposures on confirmed foreign letters of credit during the 2018 and 2019 periods are as follows: Stage 1 Stage 2 Stage 3 Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Total ECL exposures as of January 1, 2018 23 - - - - - 23 Net change on exposures 3 - - - - - 3 Transfer to Stage 1 - - - - - - - Transfer to Stage 2 - - - - - - - Transfer to Stage 3 - - - - - - - Impact on year-end ECL of exposures transferred between stages during the year - - - - - - - Foreign exchange adjustments 3 - - - - - 3 ECL as of December 31, 2018 29 - - - - - 29 ECL exposures as of January 1, 2019 29 - - - - - 29 Net change on exposures (24 ) - - - - - (24 ) Transfer to Stage 1 - - - - - - - Transfer to Stage 2 - - - - - - - Transfer to Stage 3 - - - - - - - Impact on year-end ECL of exposures transferred between stages during the year - - - - - - - Changes to models and assumptions (1 ) (1 ) Foreign exchange adjustments - - - - - - - ECL as of December 31, 2019 4 - - - - - 4 c. Issued foreign letters of credit: The table below shows the credit quality and the maximum exposure to credit risk based on the Bank’s internal credit rating system and year-end stage classification. As of December 31, 2018 Stage 1 Stage 2 Stage 3 Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Total MCh$ Normal 344,874 1,585 41,823 114 - - 388,396 Substandard - - - - - - - Non-complying - - - - - - - Total 344,874 1,585 41,823 114 - - 388,396 As of December 31, 2019 Stage 1 Stage 2 Stage 3 Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Total MCh$ Normal 149,753 1,308 165,538 317 - - 316,916 Substandard - - - - - - - Non-complying - - - - - - - Total 149,753 1,308 165,538 317 - - 316,916 An analysis of changes in the outstanding exposures on issued foreign letters of credit during the 2018 and 2019 periods are as follows: Stage 1 Stage 2 Stage 3 Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Total MCh$ Outstanding exposure as of January 1, 2018 80,106 1,737 11,984 486 - - 94,313 Net change on exposures 262,824 832 21,226 (1,498 ) - - 283,384 Transfer to Stage 1 6,268 - (6,268 ) - - - Transfer to Stage 2 (13,420 ) (1,098 ) 13,420 1,098 - - - Transfer to Stage 3 - - - - - - - Foreign exchange adjustments 9,096 114 1,461 28 - - 10,699 Exposure as of December 31, 2018 344,874 1,585 41,823 114 - - 388,396 Outstanding exposure as of January 1, 2019 344,874 1,585 41,823 114 - - 388,396 Net change on exposures (41,247 ) (362 ) (21,391 ) 371 - - (62,629 ) Transfer to Stage 1 20,794 491 (20,794 ) (491 ) - - - Transfer to Stage 2 (167,024 ) (333 ) 167,024 333 - - - Transfer to Stage 3 - - - - - - - Foreign exchange adjustments (7,644 ) (73 ) (1,124 ) (10 ) - - (8,851 ) Exposure as of December 31, 2019 149,753 1,308 165,538 317 - - 316,916 An analysis of changes in ECL exposures on issued foreign letters of credit during the 2018 and 2019 periods are as follows: Stage 1 Stage 2 Stage 3 Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Total MCh$ ECL exposures as of January 1, 2018 43 6 - - - - 49 Net change on exposures 38 7 - (1 ) - - 44 Transfer to Stage 1 - - - - - - - Transfer to Stage 2 (6 ) (3 ) 6 3 - - - Transfer to Stage 3 - - - - - - - Impact on year-end ECL of exposures transferred between stages during the year 4 - (6 ) (2 ) - - (4 ) Foreign exchange adjustments 4 - - - - - 4 ECL as of December 31, 2019 83 10 - - - - 93 ECL exposures as of January 1, 2019 83 10 - - - - 93 Net change on exposures (61 ) (8 ) 10 18 - - (41 ) Transfer to Stage 1 - - - - - - - Transfer to Stage 2 (3 ) (1 ) 3 1 - - - Transfer to Stage 3 - - - - - - - Impact on year-end ECL of exposures transferred between stages during the year - - (2 ) - - - (2 ) Changes to models and assumptions 1 - - - - - 1 Foreign exchange adjustments - - - - - - - ECL as of December 31, 2019 20 1 11 19 - - 51 d. Performance guarantees: The table below shows the credit quality and the maximum exposure to credit risk based on the Bank’s internal credit rating system and year-end stage classification. As of December 31, 2018 Stage 1 Stage 2 Stage 3 Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Total MCh$ Normal 1,685,980 54,523 477,489 3,470 - 22 2,221,484 Substandard - - 7,586 - - - 7,586 Non-complying - - - 74 2,310 1,228 3,612 Total 1,685,980 54,523 485,075 3,544 2,310 1,250 2,232,682 As of December 31, 2019 Stage 1 Stage 2 Stage 3 Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Total MCh$ Normal 1,804,374 44,325 414,621 10,970 - - 2,274,290 Substandard - - 5,806 - - - 5,806 Non-complying - - - - 2,194 1,100 3,294 Total 1,804,374 44,325 420,427 10,970 2,194 1,100 2,283,390 An analysis of changes in the outstanding exposures on Performance guarantees during the 2018 and 2019 periods are as follows: Stage 1 Stage 2 Stage 3 Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Total MCh$ Outstanding exposure as of January 1, 2018 1,803,358 46,416 365,137 3,741 1,162 1,014 2,220,828 Net change on exposures (6,282 ) 8,008 (23,779 ) 1,963 (786 ) (1,935 ) (22,811 ) Transfer to Stage 1 189,344 10,346 (189,279 ) (10,258 ) (65 ) (88 ) - Transfer to Stage 2 (332,091 ) (9,034 ) 332,365 9,067 (274 ) (33 ) - Transfer to Stage 3 (13 ) (1,304 ) (2,256 ) (975 ) 2,269 2,279 - Foreign exchange adjustments 31,664 91 2,887 6 4 13 34,665 Exposure as of December 31, 2018 1,685,980 54,523 485,075 3,544 2,310 1,250 2,232,682 Outstanding exposure as of January 1, 2019 1,685,980 54,523 485,075 3,544 2,310 1,250 2,232,682 Net change on exposures 129,463 (10,568 ) (38,887 ) 8,898 (2,950 ) (1,203 ) 84,753 Transfer to Stage 1 249,755 18,249 (249,755 ) (18,092 ) - (157 ) - Transfer to Stage 2 (229,813 ) (17,111 ) 230,906 17,417 (1,093 ) (306 ) - Transfer to Stage 3 (74 ) (729 ) (3,884 ) (792 ) 3,958 1,521 - Foreign exchange adjustments (30,937 ) (39 ) (3,028 ) (5 ) (31 ) (5 ) (34,045 ) Exposure as of December 31, 2019 1,804,374 44,325 420,427 10,970 2,194 1,100 2,283,390 An analysis of changes in ECL exposures on Performance guarantees during the 2018 and 2019 periods are as follows: Stage 1 Stage 2 Stage 3 Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Total MCh$ ECL exposures as of January 1, 2018 1,841 384 947 - 470 34 3,676 Net change on exposures 664 73 (113 ) (2 ) (310 ) (11 ) 301 Transfer to Stage 1 - 18 - - - (18 ) - Transfer to Stage 2 (439 ) (87 ) 442 90 (3 ) (3 ) - Transfer to Stage 3 - (80 ) (86 ) - 86 80 - Impact on year-end ECL of exposures transferred between stages during the year 209 200 (444 ) (88 ) 250 (79 ) 48 Foreign exchange adjustments 33 1 19 - 2 - 55 ECL as of December 31, 2018 2,308 509 765 - 495 3 4,080 ECL exposures as of January 1, 2019 2,308 509 765 - 495 3 4,080 Net change on exposures (1,717 ) (178 ) 767 789 (791 ) 471 (659 ) Transfer to Stage 1 287 20 (287 ) (20 ) - - - Transfer to Stage 2 (249 ) (233 ) 919 233 (670 ) - - Transfer to Stage 3 (2 ) (22 ) (192 ) (17 ) 194 39 - Impact on year-end ECL of exposures transferred between stages during the year (18 ) 182 (684 ) (231 ) 1,263 (39 ) 473 Changes to models and assumptions (15 ) - 152 - - - 137 Foreign exchange adjustments 7 (1 ) - - - - 6 ECL as of December 31, 2019 601 277 1,440 754 491 474 4,037 e. Undrawn credit lines: The table below shows the credit quality and the maximum exposure to credit risk based on the Bank’s internal credit rating system and year-end stage classification. As of December 31, 2018 Stage 1 Stage 2 Stage 3 Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Total MCh$ Normal 1,279,611 5,512,504 177,084 786,603 - 449 7,756,251 Substandard - - 1,502 - - - 1,502 Non-complying - - - 60 328 11,184 11,572 Total 1,279,611 5,512,504 178,586 786,663 328 11,633 7,769,325 As of December 31, 2019 Stage 1 Stage 2 Stage 3 Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Total Normal 1,135,118 6,434,148 81,990 207,646 - - 7,858,902 Substandard - - 1,468 - - - 1,468 Non-complying - - - - 359 9,531 9,890 Total 1,135,118 6,434,148 83,458 207,646 359 9,531 7,870,260 An analysis of changes in the outstanding exposures undrawn credit lines during the 2018 and 2019 periods are as follows: Stage 1 Stage 2 Stage 3 Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Total MCh$ Outstanding exposure as of January 1, 2018 1,199,593 5,086,210 147,053 794,449 411 12,690 7,240,406 Net change on exposures 111,426 621,021 (5,449 ) (114,834 ) (326 ) (10,615 ) 601,223 Transfer to Stage 1 130,936 491,857 (130,926 ) (488,237 ) (11 ) (3,619 ) - Transfer to Stage 2 (166,795 ) (561,588 ) 166,892 563,941 (97 ) (2,353 ) - Transfer to Stage 3 (120 ) (1,928 ) (217 ) (13,476 ) 337 15,404 - Foreign exchange adjustments 4,571 (123,068 ) 1,233 44,820 14 126 (72,304 ) Exposure as of December 31, 2018 1,279,611 5,512,504 178,586 786,663 328 11,633 7,769,325 Outstanding exposure as of January 1, 2019 1,279,611 5,512,504 178,586 786,663 328 11,633 7,769,325 Net change on exposures (182,381 ) 668,090 (50,111 ) (96,818 ) (204 ) (8,651 ) 329,925 Transfer to Stage 1 162,455 1,058,685 (162,453 ) (1,058,572 ) (2 ) (113 ) - Transfer to Stage 2 (118,673 ) (593,536 ) 118,848 598,413 (175 ) (4,877 ) - Transfer to Stage 3 (57 ) (1,970 ) (365 ) (9,938 ) 422 11,908 - Foreign exchange adjustments (5,837 ) (209,625 ) (1,047 ) (12,102 ) (10 ) (369 ) (228,990 ) Exposure as of December 31, 2019 1,135,118 6,434,148 83,458 207,646 359 9,531 7,870,260 An analysis of changes in ECL exposures on undrawn credit lines during the 2018 and 2019 periods are as follows: Stage 1 Stage 2 Stage 3 Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Total MCh$ ECL exposures as of January 1, 2018 937 8,071 147 4,747 - 5,069 18,971 Net change on exposures 684 2,796 21 (2,669 ) 41 (1,450 ) (577 ) Transfer to Stage 1 99 1,463 (96 ) (817 ) (4 ) (645 ) - Transfer to Stage 2 (87 ) (3,246 ) 124 3,898 (37 ) (652 ) - Transfer to Stage 3 - (92 ) (5 ) (818 ) 5 910 - Impact on year-end ECL of exposures transferred between stages during the year (3 ) 31 (56 ) (441 ) (5 ) 2,028 1,554 Foreign exchange adjustments 4 100 2 294 - 38 438 ECL as of December 31, 2018 1,634 9,123 137 4,194 - 5,298 20,386 ECL exposures as of January 1, 2019 1,634 9,123 137 4,194 - 5,298 20,386 Net change on exposures (1,229 ) 4,832 25 (1,245 ) 63 (848 ) 1,598 Transfer to Stage 1 88 6,162 (87 ) (6,141 ) (1 ) (21 ) - Transfer to Stage 2 (113 ) (6,056 ) 191 7,838 (78 ) (1,782 ) - Transfer to Stage 3 - (149 ) (12 ) (792 ) 12 941 - Impact on year-end ECL of exposures transferred between stages during the year (35 ) (389 ) (129 ) (1,116 ) 83 1,006 (580 ) Changes to models and assumptions (112 ) (269 ) 63 (28 ) - - (346 ) Foreign exchange adjustments 1 (119 ) (3 ) (66 ) (1 ) (54 ) (242 ) ECL as of December 31, 2019 234 13,135 185 2,644 78 4,540 20,816 f. Other commitments: The table below shows the credit quality and the maximum exposure to credit risk based on the Bank’s internal credit rating system and year-end stage classification as of December 31, 2018 and 2019. As of December 31, 2018 Stage 1 Stage 2 Stage 3 Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Total MCh$ Normal 46,561 - - - - - 46,561 Substandard - - - - - - - Non-complying - - - - - - - Total 46,561 - - - - - 46,561 As of December 31, 2019 Stage 1 Stage 2 Stage 3 Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Total MCh$ Normal 155,163 - - - - - 155,163 Substandard - - - - - - - Non-complying - - - - - - - Total 155,163 - - - - - 155,163 An analysis of changes in the outstanding exposures on other commitments during the 2018 and 2019 periods are as follows: Stage 1 Stage 2 Stage 3 Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Total MCh$ Outstanding exposure as of January 1, 2018 49,519 - 11,090 - - - 60,609 Net change on exposures (2,958 ) - (11,090 ) - - - (14,048 ) Transfer to Stage 1 - - - - - - - Transfer to Stage 2 - - - - - - - Transfer to Stage 3 - - - - - - - Foreign exchange adjustments - - - - - - - Exposure as of December 31, 2018 46,561 - - - - - 46,561 Outstanding exposure as of January 1, 2019 46,561 - - - - - 46,561 Net change on exposures 108,602 - - - - - 108,602 Transfer to Stage 1 - - - - - - - Transfer to Stage 2 - - - - - - - Transfer to Stage 3 - - - - - - - Foreign exchange adjustments - - - - - - - Exposure as of December 31, 2019 155,163 - - - - - 155,163 An analysis of changes in ECL exposures on other commitments during the 2018 and 2019 periods are as follows: Stage 1 Stage 2 Stage 3 Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Total MCh$ ECL exposures as of January 1, 2018 - - - - - - - Net change on exposures - - - - - - - Transfer to Stage 1 - - - - - - - Transfer to Stage 2 - - - - - - - Transfer to Stage 3 - - - - - - - Impact on year-end ECL of exposures transferred between stages during the year - - - - - - - Foreign exchange adjustments - - - - - - - ECL as of December 31, 2018 - - - - - - - ECL exposures as of January 1, 2019 - - - - - - - Net change on exposures - - - - - - - Transfer to Stage 1 - - - - - - - Transfer to Stage 2 - - - - - - - Transfer to Stage 3 - - - - - - - Impact on year-end ECL of exposures transferred between stages during the year - - - - - - - Changes to models and assumptions - - - - - - - Foreign exchange adjustments - - - - - - - ECL as of December 31, 2019 - - - - - - - |
Employee Benefits
Employee Benefits | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of defined benefit plans [abstract] | |
Employee Benefits | 25. Employee Benefits: (a) Provisions for personnel benefits and payroll: 2018 2019 MCh$ MCh$ Short-term personnel benefits (a.2) 47,797 51,051 Vacation accrual (a.3) 26,855 27,609 Employee defined benefit plan (a.1)(*) 7,754 7,566 Other Benefits 10,173 22,849 Total 92,579 109,075 (*) See Note No. 2 (x) (iii). (a.1) Employee defined benefit plan: 2018 2019 MCh$ MCh$ Current service cost 250 101 Interest cost on benefit obligation 300 222 Actuarial gains and losses 127 247 Net benefit expense 677 570 The net benefit expense is recognized under "Personnel Expenses" (Note No. 34). The principal assumptions used in determining pension obligations for the Bank's plan are shown below: December 31, December 31, 2018 2019 % % Discount rate 4.25 3.17 Annual salary increase 4.42 4.42 Payment probability 99.99 99.99 The most recent actuarial valuation of the present value of the benefit plan obligation was carried out at December 31, 2019. Changes in the present value of the defined benefit obligation are as follows: 2018 2019 MCh$ MCh$ Opening defined benefit obligation, January 1, 7,676 7,754 Increase (Decrease) in provision 550 323 Benefits paid (599 ) (758 ) Actuarial gains and losses 127 247 Closing defined benefit obligation 7,754 7,566 (a.2) The following table details the changes in provisions for incentive plans during 2018 and 2019: 2018 2019 MCh$ MCh$ Balances as of January 1, 43,372 47,797 Provisions established 40,058 45,792 Provisions used (35,633 ) (42,538 ) Provisions released — — Balances as of December 31, 47,797 51,051 (a.3) The following table details the changes in provisions for vacation during 2018 and 2019: 2018 2019 MCh$ MCh$ Balances as of January 1, 25,159 26,855 Provisions established 7,529 7,257 Provisions used (5,833 ) (6,503 ) Provisions released — — Balances as of December 31, 26,855 27,609 (b) Provisions for share-based employee benefits: As of December 31, 2018 and 2019, the Bank and its subsidiaries do not have a stock compensation plan. |
Other Liabilities
Other Liabilities | 12 Months Ended |
Dec. 31, 2019 | |
Miscellaneous liabilities [abstract] | |
Other Liabilities | 26. Other Liabilities: As of December 31, 2018 and 2019, other liabilities are detailed as follows: 2018 2019 MCh$ MCh$ Accounts and notes payable 176,826 231,465 Securities unliquidated 106,071 134,253 Income received in advance (*) 5,743 125,418 Documents intermediated (**) 53,492 80,190 Cobranding 36,081 30,186 VAT payable — 4.523 Insurance payments 992 1,157 Outstanding transactions 616 792 Others 18,984 23,683 Total 398,805 631,667 (*) On January 28, 2019, Banco de Chile and its subsidiary Banchile Corredores de Seguros Ltda. informed that they have entered into a strategic alliance with the insurance companies Chubb Seguros Chile S.A. and Chubb Seguros de Vida Chile S.A. The framework of the strategic alliance establishes the general terms and conditions pursuant to which the Bank will grant, for a period of 15 years, exclusive access to the Companies to provide insurances to clients via face-to-face and digital channels of the Bank, through Banchile, as well as, granting access to existing clients of the Bank, subject to the exceptions agreed upon by the parties. The aforementioned Agreement included an initial payment on the date of the signing of the contracts, in accordance with the terms and conditions thereof, and annual payments subject to compliance with insurance sales objectives during the agreement lifetime. On June 4, 2019, Banco de Chile received the payment from the Insurance Companies for an amount of Ch$149,061 million, which was recorded according to IFRS 15. The related income is recognized at the time of providing access to existing clients to the Insurance Companies and over time, depending on compliance with the associated performance obligations. (**) This item mainly includes financing of simultaneous operations performed by subsidiary Banchile Corredores de Bolsa S.A. |
Contingencies and Commitments
Contingencies and Commitments | 12 Months Ended |
Dec. 31, 2019 | |
Contingencies and Commitments [abstract] | |
Contingencies and Commitments | 27. Contingencies and Commitments: (a) Commitments accounted for in off-balance-sheet accounts: In order to satisfy its customers’ needs, the Bank entered into several irrevocable commitments and contingent obligations. Although these obligations are not recognized in the Statement of Financial Position, they entail credit risks and, therefore, form part of the Bank’s overall risk. 2018 2019 MCh$ MCh$ Off-balance-sheet accounts Foreign office guarantees and standby letters of credit 341,676 280,838 Confirmed foreign letters of credit 56,764 94,673 Issued foreign letters of credit 388,396 316,916 Performance guarantees 2,232,682 2,283,390 Undrawn credit lines 7,769,325 7,870,260 Other commitments 46,561 155,163 Transactions on behalf of third parties Collections 160,367 144,043 Third-party resources managed by the Bank: Financial assets managed on behalf of third parties 27,334 6,418 Other assets managed on behalf of third parties — — Financial assets acquired on its own behalf 103,319 73,140 Fiduciary activities Securities held in safe custody in the Bank 2,089,079 2,677,353 Securities held in safe custody in other entities 18,624,962 18,719,297 Total 31,840,465 32,621,491 (b) Lawsuits and legal proceedings: (b.1) Legal contingencies within the ordinary course of business: At the date of issuance of these consolidated financial statements, there are legal actions filed against the Bank and its subsidiaries in the ordinary course of business. As of December 31, 2019, the Bank and its subsidiaries maintain provisions for legal contingencies amounting to Ch$237 million (Ch$204 million as of December 31, 2018), which are part of the item “Provisions” in the Statement of Financial Position. The following table presents the estimated date of completion of the respective litigation: As of December 31, 2019 2020 2021 2022 2023 Total MCh$ MCh$ MCh$ MCh$ MCh$ Legal contingencies 120 117 ― ― 237 (b.2) Contingencies for significant lawsuits: As of December 31, 2018 and 2019, there are not significant lawsuits that affect or may affect these Consolidated Financial Statements. (c) Guarantees granted: (i) In subsidiary Banchile Administradora General de Fondos S.A.: In compliance with article 12 of Law 20,712, Banchile Administradora General de Fondos S.A., has designated Banco de Chile as the representative of the beneficiaries of the guarantees it has established and in that character the Bank has issued bank guarantees totaling UF 3,090,000, maturing January 10, 2020 (UF 2,977,300 maturing January 10, 2019 in December 2018). The subsidiary took a policy with Mapfre Seguros Generales S.A. for the Real State Funds by a guaranteed amount of UF 755,800. As of December 31, 2018 and 2019 the Bank has no guaranteed mutual funds. In compliance with the rules established by the Chilean Commission for the Financial Market (“CMF”) in letter f) of Circular 1,894 of September 24, 2008, the entity has constituted guarantees, by management portfolio, in benefit of investors. Such guarantee corresponds to a bank guarantee for UF 401,800, with a maturity date of January 10, 2020. (ii) In subsidiary Banchile Corredores de Bolsa S.A.: For the purposes of ensuring correct and complete compliance with all of its obligations as a broker-dealer entity, in conformity with the provisions of article 30 and subsequent articles of Law 18,045 on Securities Markets, Banchile Corredores de Bolsa S.A. established a guarantee in an insurance policy for UF 20,000, insured by Mapfre Seguros, that matures on April 22, 2020, whereby the Securities Exchange of the Santiago Stock Exchange was appointed as the subsidiary’s creditors to representative. The Bank has given the following guarantees in relation to this subsidiary’s business activities: 2018 2019 MCh$ MCh$ Guarantees: Shares to secure short-sale transactions in: Santiago Securities Exchange, Stock Exchange 59,074 85,302 Electronic Chilean Securities Exchange, Stock Exchange 17,223 6,843 Fixed income securities to guarantee CCLV system, Santiago Securities Exchange, Stock Exchange 5,976 7,985 Shares delivered to guarantee equity lending, Electronic Chilean Securities Exchange, Stock Exchange — 382 Total 82,273 100,512 In conformity with the internal regulation of the stock exchange in which this subsidiary participates, and for the purpose of securing the broker’s correct performance, the Company established a pledge over 1,000,000 shares of the Santiago Stock Exchange, in favor of that institution, as stated in the Public Deed dated September 13, 1990 before the notary of Santiago Mr. Raul Perry Pefaur, and over 100,000 shares of the Electronic Chilean Stock Exchange, in favor of that Institution, as stated in a contract signed between both entities dated May 16, 1990. Banchile Corredores de Bolsa S.A. keeps an insurance policy current with Southbridge Compañía de Seguros Generales S.A. that expires January 2, 2020, this considers matters of employee fidelity, physical losses, falsification or adulteration, and currency fraud with a coverage amount equivalent to US$10,000,000. According to disposition of Chilean Central Bank, it provided a bank guarantee N°9571-2 corresponding to UF 10,500, with purposes to comply with the requirements of the SOMA (System Open Market Operations) contract of the Chilean Central Bank. This bank guarantee is readjustable in UF to fixed term, non-endorsable and has a maturity date of July 22, 2020. It also provided a bank guarantee No. 350329-3 in the amount of UF 251,400 for the benefits of investors in portfolio management contracts. This bank guarantee is revaluated in UF to fixed term, non-endorsable and has a maturity date of January 10, 2020. It has been constituted the bank guarantee No. 9887-5 corresponding to UF 500, to ensure the seriousness of the offer presented in the fixed income tender process. Beneficiary: Mutual de Seguridad of the Chilean Chamber of Construction, valid until March 30, 2020. It has been constituted the bank guarantee No. 9988-3 corresponding to UF 500, to ensure the seriousness of the offer presented in the variable income tender process. Beneficiary: Mutual de Seguridad of the Chilean Chamber of Construction, valid until March 30, 2020. It also provided a cash guarantee in the amount of US$122,494.32 for the purpose of complying with the obligations to Pershing, for any operations conducted through that broker. (iii) In subsidiary Banchile Corredores de Seguros Ltda. According to established in article No. 58, letter D of D.F.L. 251, as of December 31, 2019 the entity maintains two insurance policies with effect from April 15, 2019 to April 14, 2020 which protect it against of potential damages caused by infractions of the law, regulations and complementary rules that regulate insurance brokers, especially when the non-compliance comes from acts, errors or omissions of the broker, its representatives, agents or dependents that participate in the intermediation. The policies contracted are the following: Matter insured Amount Insured (UF) Responsibility for errors and omissions policy 60,000 Civil responsibility policy 500 (d) By Exempt Resolution No. 270 dated October 30, 2014, the Superintendency of Securities and Insurance (current Commission for the Financial Market) imposed a fine of UF 50,000 to Banchile Corredores de Bolsa S.A. for violations of the second paragraph of article 53 of the Securities Market Law, said company filed a claim with the competent Civil Court requesting the annulment of the fine. On December 10, 2019, a judgement in the case was issued reducing the fine to the amount of UF 7,500. The judgment indicated has been subject to cassation appeals filed by both parties, which are pending before the Court of Appeals of Santiago. The company has not made provisions considering that the Bank’s legal advisors in charge of the procedure estimate that there are solid grounds that the claim filed by Banchile Corredores de Bolsa S.A. can be accepted. |
Equity
Equity | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of classes of share capital [abstract] | |
Equity | Equity: (a) Authorized, subscribed and paid shares: As of December 31, 2019, the paid-in capital of Banco de Chile is represented by 101,017,081,114 registered shares (101,017,081,114 in 2018), with no par value, subscribed and fully paid. (b) Shares: The following table shows the share movements from December 31, 2018 to December 31, 2019: Total Ordinary Shares Total shares as of December 31, 2017 99,444,132,192 Capitalization of retained earnings 1,572,948,922 Total shares as of December 31, 2018 101,017,081,114 Total Shares as of December 31, 2019 101,017,081,114 (c) Shareholders’ composition: As of December 31, 2018, the shareholder composition was as follows: Corporate Name or Shareholder’s Name Shares % of Equity Holding Sociedad Administradora de la Obligación Subordinada SAOS S.A. 28,593,701,789 28.31 LQ Inversiones Financieras S.A. 27,460,203,382 27.18 Sociedad Matriz del Banco de Chile S.A. 12,138,573,251 12.02 Other minority shareholders 32,824,602,692 32.49 Total 101,017,081,114 100.00 As of December 31, 2019, the shareholder composition was as follows: Corporate Name or Shareholder’s Name Shares % of Equity Holding LQ Inversiones Financieras S.A. 46,815,289,329 46.34 Banchile Corredores de Bolsa S.A. 5,708,422,261 5.65 Inversiones LQ-SM Limitada 4,854,988,014 4.81 Other minority shareholders 43,638,381,510 43.20 Total 101,017,081,114 100.00 (d) Approval and payment of dividends: At the Ordinary Shareholders’ Meeting held on March 28, 2019, the Bank’s shareholders agreed to distribute and pay dividend No. 207 amounting to Ch$3.52723589646 per common share of Banco de Chile, with charge to net income for the year ended December 31, 2018. The amount of dividend paid was Ch$356,311 million. At the Ordinary Shareholders’ Meeting held on March 22, 2018, the Bank’s shareholders agreed to distribute and pay dividend No. 206 amounting to Ch$3.14655951692 per common share of Banco de Chile, with charge to net income for the year ended December 31, 2017. The amount of dividend paid was Ch$374,079 million. The following dividends were declared and paid by the Bank for the year ended as of December 31, 2017, 2018 and 2019: 2017 2018 2019 Dividends on ordinary shares MCh$ (*) 342,034 374,079 356,311 Dividends per ordinary share Ch$ (**) 3.50 3.76 3.53 (*) This dividend per share is composed of the dividend paid to the Central Bank and common shareholders in the amounts of MCh$90,733 and MCh$265,578, respectively. On April 30, 2019, was paid the last installment of subordinated debt to the Central Bank. (**) Dividends per share are calculated by dividing the amount of the dividend paid during each year by the previous year’s number of shares outstanding. (e) Provision for minimum dividends: The Chilean Corporations Law mandates a minimum distribution of 30% of distributable income. Accordingly, the Bank recorded a liability under the line item “Provisions” for an amount of Ch$177,902 million (Ch$178,462 million in December 31, 2018) against “Retained earnings”. (f) Other comprehensive income: In accordance with Note No. 2(i) (iii), the fair market value adjustment for financial assets at fair value through other comprehensive income is generated by fluctuations in the fair value of that portfolio, with a charge or credit to equity, net of deferred taxes (see Note No. 12). For the year ended 2019, there was a net credit to equity in an amount of Ch$11,641 million (a net debit to equity for Ch$10,121 million in 2018). Cash flow hedge adjustment consists of the portion of income of hedge instruments registered in equity produced in a cash flow hedge. For the year ended December 31, 2019, there was a net debit to equity in an amount of Ch$27,408 million (a net debit to equity for Ch$22,589 million for the period 2018). (g) Retained earnings from previous years: During the year 2019, the Ordinary Shareholders Meeting of Banco de Chile approved the withholding of 30% of the distributable liquid profit corresponding to the 2018 fiscal year equivalent to Ch$152,705 million. (h) Earnings per share: Earnings per share is calculated by dividing the net profit for the year attributable to the ordinary equity holders of the Bank by the weighted average number of ordinary shares outstanding during the year. The following table shows the income and share data used in the calculation of EPS: As of December 31, 2017 2018 2019 Basic and diluted earnings per share: Net profits attributable to ordinary equity holders of the Bank (MCh$) 572,080 603,633 603,744 Weighted average number of ordinary shares (*) 101,017,081,114 101,017,081,114 101,017,081,114 Earnings per share (Ch$) 5.66 5.98 5.98 (*) During 2017 and 2018, the Bank capitalized 1,819,784,762, and 1,572,948,922 shares respectively, which are considered in the earnings per share calculation as if they had been outstanding during all periods presented. During the periods presented the Bank did not have any instruments that could lead to a dilution of its ordinary shares. There have been no transactions involving ordinary shares or potential ordinary shares between the reporting date and the date of the completion of these financial statements. |
Interest Revenue and Expenses
Interest Revenue and Expenses | 12 Months Ended |
Dec. 31, 2019 | |
Interest Revenue and Expenses [abstract] | |
Interest Revenue and Expenses | Interest Revenue and Expenses: (a) As of each year-end below, interest revenue is detailed as follows: 2017 2018 2019 MCh$ MCh$ MCh$ Commercial loans 786,794 851,328 910,229 Consumer loans 614,393 613,293 638,198 Residential mortgage loans 401,862 502,832 532,009 Financial investments 35,403 52,909 45,294 Repurchase agreements 7,337 2,767 2,480 Loans and advances to banks 15,024 24,138 27,457 Gain (loss) from accounting hedges 20,722 (58,560 ) (59,874 ) Other interest revenue 5,165 11,910 17,755 Total 1,886,700 2,000,617 2,113,548 The amount of interest recognized on a received basis for impaired portfolio in 2019 amounts to Ch$4,415 million (Ch$5,113 million as of December 31, 2018). (b) As of each year-end below, interest expenses are detailed as follows: 2017 2018 2019 MCh$ MCh$ MCh$ Savings accounts and time deposits 297,277 301,251 313,142 Debt issued 268,203 352,351 386,015 Other financial obligations 1,640 1,482 918 Repurchase agreements 5,193 8,901 7,048 Borrowings from financial institutions 19,255 29,275 43,570 (Gain) loss from accounting hedges 54,834 (23,694 ) (25,888 ) Demand deposits 5,350 9,380 14,408 Lease liabilities — — 2,574 Other interest expenses 253 694 483 Total 652,005 679,640 742,270 (c) As of each year-end below, loss from accounting hedge is the following: 2017 2018 2019 MCh$ MCh$ MCh$ Cash Flow hedge (29,477 ) (33,031 ) (28,690 ) Fair value hedge (4,635 ) (1,835 ) (5,296 ) Total (34,112 ) (34,866 ) (33,986 ) |
Income and Expenses from Fees a
Income and Expenses from Fees and Commissions | 12 Months Ended |
Dec. 31, 2019 | |
Fee and commission income (expense) [abstract] | |
Income and Expenses from Fees and Commissions | 30. Income and Expenses from Fees and Commissions: The income and expenses for fees and commissions shown in the Consolidated Statement of Comprehensive Income for the years ended December 31, 2017, 2018 and 2019 refer to the following items: 2017 2018 2019 MCh$ MCh$ MCh$ Income from fees and commissions Debit and credit card services 155,572 167,201 185,878 Investments in mutual funds and others 86,103 91,173 101,046 Use of distribution channel and access to customers 18,204 20,974 65,243 Collections and payments 50,343 52,717 56,389 Portfolio management 43,915 46,730 47,816 Fees for insurance transactions 30,163 32,886 37,035 Guarantees and letter of credit 24,485 25,021 26,101 Trading and securities management 18,741 24,632 21,878 Brand use agreement 14,515 14,840 16,494 Lines of credit and overdrafts 5,000 4,837 4,716 Financial advisory services 5,536 5,046 4,393 Other fees earned 19,125 19,057 22,183 Total income from fees and commissions 471,702 505,114 589,172 Expenses from fees and commissions Credit card transactions (96,872 ) (113,403 ) (97,823 ) Interbank transactions (13,189 ) (16,554 ) (20,133 ) Collections and payments (6,206 ) (6,546 ) (6,284 ) Securities transactions (6,802 ) (7,544 ) (5,943 ) Sales force (213 ) (258 ) (404 ) Other fees (746 ) (854 ) (1,283 ) Total expenses from fees and commissions (124,028 ) (145,159 ) (131,870) |
Net Financial Operating Income
Net Financial Operating Income | 12 Months Ended |
Dec. 31, 2019 | |
Net Financial Operating Income [abstract] | |
Net Financial Operating Income | 31. Net Financial Operating Income: The gain (losses) from trading and brokerage activities for the years ended December 31, 2017, 2018 and 2019 is detailed as follows: 2017 2018 2019 MCh$ MCh$ MCh$ Net income on financial assets held-for-trading 46,207 42,605 44,274 Gain (loss) from mark to market 4,435 8,038 32,128 Financial assets held-for-trading 50,642 50,643 76,402 Sale of financial assets at fair value through other comprehensive income 6,514 1,118 4,789 Sale of loan portfolio 2,063 267 — Net (loss) gain of other transactions 233 384 (145 ) Derivative instruments (89,113 ) 64,730 32,391 Total (29,661 ) 117,142 113,437 |
Foreign Exchange Transactions,
Foreign Exchange Transactions, Net | 12 Months Ended |
Dec. 31, 2019 | |
Foreign Exchange Transactions, Net [abstract] | |
Foreign Exchange Transactions, net | 32. Foreign Exchange Transactions, net: The detail of foreign exchange transactions for the years ended December 31, 2017, 2018 and 2019 is the following: 2017 2018 2019 MCh$ MCh$ MCh$ Gain (loss) from accounting hedges (64,135 ) 118,690 113,374 Exchange difference, net (7,221 ) 9,609 6,284 Indexed foreign currency 176,231 (125,598 ) (88,772 ) Total 104,875 2,701 30,886 |
Provisions for Loan Losses
Provisions for Loan Losses | 12 Months Ended |
Dec. 31, 2019 | |
Provisions for Loan Losses [abstract] | |
Provisions for Loan Losses | 33. Provisions for Loan Losses: The changes in provisions for loan losses during 2017, 2018 and 2019 are the following: Loans and Loans to customers as of December 31, 2017 Debt instruments Provisions for advance to Commercial loans Mortgage loans Consumer loans Subtotal at fair value contingent Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Provisions established: Individual provisions (5 ) ― ― ― ― ― ― (5 ) Group provisions ― (47,837 ) (4,361 ) (247,810 ) (300,008 ) ― (3,131 ) (303,139 ) Provisions established net (5 ) (47,837 ) (4,361 ) (247,810 ) (300,008 ) ― (3,131 ) (303,144 ) Provisions released: Individual provisions ― 28,571 ― ― 28,571 ― 3,841 32,412 Group provisions ― ― ― ― ― ― ― ― Provisions released net ― 28,571 ― ― 28,571 ― 3,841 32,412 Recovery of written-off assets ― 13,750 3,246 32,481 49,477 ― ― 49,477 Provisions net allowances for credit risk (5 ) (5,516 ) (1,115 ) (215,329 ) (221,960 ) ― 710 (221,255 ) The detail of the amounts presented in the Consolidated Statement of Cash Flow is as follows: 2017 MCh$ Allowances established of loans to customer and loans and advances to banks (300,013 ) Allowances released of loans to customer and loans and advances to banks 28,571 Total allowances of loans to customer and loans and advances to banks (271,442 ) Loans and Loans to customers as of December 31, 2018 Debt instruments Provisions for advance to Commercial Mortgage loans Consumer Subtotal at fair value contingent Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Provisions established: Individual provisions (240 ) ― ― ― ― ― (2,368 ) (2,608 ) Group provisions ― (61,702 ) (7,546 ) (241,244 ) (310,492 ) ― ― (310,492 ) Provisions established net (240 ) (61,702 ) (7,546 ) (241,244 ) (310,492 ) ― (2,368 ) (313,100 ) Provisions released: Individual provisions ― 871 ― ― 871 1,552 ― 2,423 Group provisions ― ― ― ― ― ― 327 327 Provisions released net ― 871 ― ― 871 1,552 327 2,750 Recovery of written-off assets ― 13,579 4,572 42,428 60,579 ― ― 60,579 Provisions net allowances for credit risk (240 ) (47,252 ) (2,974 ) (198,816 ) (249,042 ) 1,552 (2,041 ) (249,771 ) The detail of the amounts presented in the Consolidated Statement of Cash Flow is as follows: 2018 MCh$ Allowances established of loans to customer and loans and advances to banks (310,732 ) Allowances released of loans to customer and loans and advances to banks 871 Total allowances of loans to customer and loans and advances to banks (309,861 ) Loans and Loans to customers as of December 31, 2019 Debt instruments Provisions for advance to banks Commercial Mortgage Consumer Subtotal at fair value contingent Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Provisions established: Individual provisions ― (17,143 ) ― ― (17,143 ) (3,468 ) ― (20,611 ) Group provisions ― (64,492 ) (17,168 ) (278,252 ) (359,912 ) ― (2,707 ) (362,619 ) Provisions established net ― (81,635 ) (17,168 ) (278,252 ) (377,055 ) (3,468 ) (2,707 ) (383,230 ) Provisions released: Individual provisions 902 ― ― ― ― ― 2,752 3,654 Group provisions ― ― ― ― ― ― ― ― Provisions released net 902 ― ― ― ― ― 2,752 3,654 Recovery of written-off assets ― 12,253 5,114 30,608 47,975 ― ― 47,975 Provisions net allowances for credit risk 902 (69,382 ) (12,054 ) (247,644 ) (329,080 ) (3,468 ) 45 (331,601 ) The detail of the amounts presented in the Consolidated Statement of Cash Flow is as follows: 2019 MCh$ Allowances established of loans to customer and loans and advances to banks (377,055 ) Allowances released of loans to customer and loans and advances to banks 902 Total allowances of loans to customer and loans and advances to banks (376,153 ) |
Personnel Expenses
Personnel Expenses | 12 Months Ended |
Dec. 31, 2019 | |
Classes of employee benefits expense [abstract] | |
Personnel Expenses | 34. Personnel Expenses: Personnel expenses for the year ended December 31, 2017, 2018 and 2019 are detailed as follows: 2017 2018 2019 MCh$ MCh$ MCh$ Remuneration 235,765 244,919 254,886 Bonuses and incentives 42,465 62,675 71,028 Variable Compensation 36,471 36,901 37,281 Lunch and health benefits 26,836 26,698 27,618 Gratifications 25,402 26,275 27,889 Staff severance indemnities 21,241 19,941 35,100 Training expenses 3,555 3,909 3,626 Other personnel expenses 17,596 19,312 18,171 Total 409,331 440,630 475,599 |
Administrative Expenses
Administrative Expenses | 12 Months Ended |
Dec. 31, 2019 | |
Administrative Expenses [Abstract] | |
Administrative Expenses | Administrative Expenses: For the year ended December 31, 2017, 2018 and 2019, administrative expenses are detailed as follows: 2017 2018 2019 MCh$ MCh$ MCh$ General administrative expenses Information technology and communications 69,933 79,300 92,264 Maintenance and repair of property and equipment 35,044 36,716 50,297 External advisory services and professional services fees 11,514 16,690 21,099 Surveillance and securities transport services 11,927 11,828 11,533 Office supplies 8,238 8,535 9,366 Insurance premiums 5,797 5,286 5,851 Expenses for short-term leases and low value (*) — — 5,801 Energy, heating and other utilities 5,674 5,676 5,697 External service of financial information 4,510 4,787 5,461 Postal box, mail , postage and home delivery services 5,343 6,045 5,131 Legal and notary expenses 3,913 4,398 3,996 Representation and travel expenses 4,040 3,763 3,657 External service of custody of documentation 3,218 3,088 3,315 Other expenses of obligations for lease agreements (*) — — 2,797 Donations 2,538 1,982 2,238 Office rental and equipment and ATM (*) 33,017 34,773 — Other general administrative expenses 6,905 8,591 5,227 Subtotal 211,611 231,458 233,730 Outsource services Credit pre-evaluation 19,577 21,952 19,159 Data processing 12,330 8,562 10,129 External technological developments expenses 10,418 9,984 9,459 Certification and technology testing 6,532 6,823 7,460 Other 3,092 3,577 3,470 Subtotal 51,949 50.898 49,677 Board expenses Board of Directors Compensation 2,497 2,511 2,509 Other Board expenses 458 298 194 Subtotal 2,955 2,809 2,703 Marketing expenses Advertising 30,698 31,375 27,808 Subtotal 30,698 31,375 27,808 Taxes, payroll taxes and contributions Contribution to the banking regulator 9,176 9,548 10,285 Real estate contributions 2,722 2,823 2,856 Patents 1,241 1,243 1,209 Other taxes 1,103 1,323 1,437 Subtotal 14,242 14,937 15,787 Total 311,455 331,477 329,705 (*) See Note No. 4 Adoption of IFRS 16 "Leases". |
Depreciation, Amortization and
Depreciation, Amortization and Impairment | 12 Months Ended |
Dec. 31, 2019 | |
Depreciation, amortisation and impairment loss (reversal of impairment loss) recognised in profit or loss [abstract] | |
Depreciation, Amortization and Impairment | 36. Depreciation, Amortization and Impairment: (a) Amounts charged to income for depreciation and amortization during the year ended December 31, 2017, 2018 and 2019 are detailed as follows: 2017 2018 2019 MCh$ MCh$ MCh$ Depreciation and amortization Depreciation of property and equipment (Note No.15(b) and Note No. 16) 26,176 27,185 29,194 Depreciation of rights over leased assets (Note No. 15(d))(*) ― ― 28,472 Amortization of intangibles assets (Note No.14(b)) 11,360 10,496 12,875 Total 37,536 37,681 70,541 (*) See Note No. 4 "Changes in Accounting policies and Disclosures". (b) As of December 31, 2017, 2018 and 2019, the impairment loss is detailed as follows: 2017 2018 2019 MCh$ MCh$ MCh$ Impairment loss Impairment loss on property and equipment (Note No.15(b)) 166 334 2,018 Impairment loss on intangibles assets (Note No.14(b)) ― ― 350 Impairment of rights over leased assets (Note No. 15(d)) ― ― 187 Total 166 334 2,555 |
Other Operating Income
Other Operating Income | 12 Months Ended |
Dec. 31, 2019 | |
Other Operating Income [abstract] | |
Other Operating Income | 37. Other Operating Income: During the year ended December 31, 2017, 2018 and 2019, the Bank and its subsidiaries presented the following under other operating income: 2017 2018 2019 MCh$ MCh$ MCh$ Income for assets received in lieu of payment Income from sale of assets received in lieu of payment 1,941 3,650 2,560 Other income 37 56 40 Subtotal 1,978 3,706 2,600 Release of provisions for contingencies Other provisions for contingencies 160 7,526 ― Subtotal 160 7,526 ― Other income Expense recovery 4,372 4,218 9,002 Rental income 8,863 9,013 8,387 Credit card income 7,690 2,504 4,037 Recovery from correspondent banks 2,710 2,591 2,816 Revaluation of prepaid monthly payments 843 1,224 1,731 Income from sale leased assets 1,360 2,586 1,166 Others 1,983 11,927 2,576 Subtotal 27,821 34,063 29,715 Total 29,959 45,295 32,315 |
Other Operating Expenses
Other Operating Expenses | 12 Months Ended |
Dec. 31, 2019 | |
Other Operating Expenses [abstract] | |
Other Operating Expenses | 38. Other Operating Expenses: During the year ended December 31, 2017, 2018 and 2019, the Bank and its subsidiaries incurred the following other operating expenses: 2017 2018 2019 MCh$ MCh$ MCh$ Provisions and expenses for assets received in lieu of payment Provisions for assets received in lieu of payment 2,307 3,930 3,246 Expenses to maintain assets received in lieu of payment 791 1,749 1,225 Subtotal 3,098 5,679 4,471 Provisions for contingencies Country risk provisions — — — Other provisions — 3 33 Subtotal — 3 33 Other expenses Write-offs for operating risks 6,360 11,378 5,561 Leasings operational expenses 10,152 4,504 5,111 Card administration 2,890 2,640 2,490 Correspondent banks 857 882 1,569 Expenses for charge-off leased assets recoveries 1,115 2,287 1,072 Others 1,396 2,213 3,543 Subtotal 22,770 23,904 19,346 Total 25,868 29,586 23,850 |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of transactions between related parties [abstract] | |
Related Party Transactions | 39. Related Party Transactions: Related parties are considered to be those natural or legal persons who are in positions to directly or indirectly have significant influence through their ownership or management of the Bank and its subsidiaries. According to the above, the Bank has considered as related parties those natural or legal persons who have a direct participation or through third parties on bank ownership, where such participation exceeds 5% of the shares, and also people who, regardless of ownership, have authority and responsibility for planning, management and control of the activities of the entity or its subsidiaries. There also are considered as related the companies in which the parties related by ownership or management of the Bank have a share which reaches or exceeds 5%, or has the position of director, general manager or equivalent. (a) Loans with related parties: The following table details loans and accounts receivable and contingent loans, corresponding to related entities as of December 31, 2018 and 2019. Productive and Services Companies (*) Investment Companies (**) Individuals (***) Total 2018 2019 2018 2019 2018 2019 2018 2019 MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Loans and accounts receivable: Commercial loans 221,351 174,370 132,366 130,237 13,183 13,563 366,900 318,170 Residential mortgage loans — — — — 44,756 58,477 44,756 58,477 Consumer loans — — — — 10,074 9,862 10,074 9,862 Gross loans 221,351 174,370 132,366 130,237 68,013 81,902 421,730 386,509 Allowance for loan losses (962 ) (782 ) (242 ) (243 ) (379 ) (889 ) (1,583 ) (1,914 ) Net loans 220,389 173,588 132,124 129,994 67,634 81,013 420,147 384,595 Contingent loans: Guarantees and sureties 5,102 5,531 14,963 9,470 — — 20,065 15,001 Letters of credits 5,310 2,365 2,776 328 — — 8,086 2,693 Foreign letters of credits — — — — — — — — Banks guarantees 45,842 32,650 30,122 43,478 — 57 75,964 76,185 Undrawn credit lines 58,041 52,916 14,674 14,364 19,160 21,519 91,875 88,799 Other contingencies loans — — — — — — — — Total contingent loans 114,295 93,462 62,535 67,640 19,160 21,576 195,990 182,678 Provision for contingencies loans (258 ) (214 ) (99 ) (52 ) (30 ) (37 ) (387 ) (303 ) Contingent loans, net 114,037 93,248 62,436 67,588 19,130 21,539 195,603 182,375 Amount covered by guarantee: Mortgage 28,208 30,807 52,108 57,456 69,292 69,165 149,608 157,428 Warrant — — — — — — — — Pledge — — — — — — — — Others (****) 47,135 37,794 13,219 12,921 3,694 5,250 64,048 55,965 Total collateral 75,343 68,601 65,327 70,377 72,986 74,415 213,656 213,393 (*) For these effects are considered productive companies, those that meet the following conditions: (i) They engage in operating activities and generate a separable flow of income; (ii) Less than 50% of their assets are trading securities or investments. Service companies are considered entities whose main purpose is oriented to rendering services to third parties. (**) Investment companies include those legal entities that do not comply with the conditions for operating companies and are profit-oriented. (***) Individuals include key members of the management and correspond to those who directly or indirectly have authority and responsibility for planning, administrating and controlling the activities of the organization, including directors. This category also includes their family members who influence or are influenced by such individuals in their interactions with the organization. (****) These guarantees correspond mainly to shares and other financial guarantees. (b) Other assets and liabilities with related parties as of December 31, 2018 and 2019: 2018 2019 MCh$ MCh$ Assets Cash and due from banks 23,086 99,802 Transactions in the course of collection 35,469 63,969 Financial assets held-for-trading 205 880 Derivative instruments 415,683 495,378 Investment instruments 14,690 12,141 Other assets 80,569 76,548 Total 569,702 748,718 Liabilities Demand deposits 169,607 227,377 Transactions in the course of payment 58,987 16,202 Obligations under repurchase agreements 84,465 54,030 Savings accounts and time deposits 219,322 396,028 Derivative instruments 337,299 432,669 Borrowings from financial institutions 228,269 292,172 Lease liabilities ― 5,138 Other liabilities 115,145 151,335 Total 1,213,094 1,574,951 (c) Income and expenses from related party transactions during the year ended December 31, 2017, 2018 and 2019: 2017 2018 2019 Type of income or expense recognized Income Expense Income Expense Income Expense Interest and revenue expenses 26,485 9,332 21,736 7,196 19,039 2,619 Fees and commission income 65,995 69,843 70,286 74,205 72,931 65,383 Net financial operating income Derivative instruments (*) 33,540 97,416 85,500 42,365 124,967 73,252 Other financial operations 1 ― ― ― 87 119 Release or established of provision for credit risk ― 252 ― 34 ― 106 Operating expenses ― 100,389 ― 105,734 ― 120,559 Other income and expenses 3,723 56 446 45 542 26 (*) The outcome of derivative operations is presented net at each related counterparty level. Additionally, this line includes operations with local counterpart banks (unrelated) which have been novated by Comder Contraparte Central S.A. (Related entity) for centralized clearing purposes, which generated a net gain of Ch$123,461 million as of December 31, 2019 (net gain of Ch$71,297 million as of December 31, 2018 and net loss of Ch$96,075 as of December 31, 2017). (d) Directors’ expenses and remunerations and payments to key management personnel: 2017 2018 2019 MCh$ MCh$ MCh$ Personnel remunerations 4,149 3,926 4,148 Short-term benefits 3,302 3,476 3,255 Severance pay 276 1,037 1,264 Directors’ remunerations and fees (*) 2,505 2,511 2,509 Total 10,232 10,950 11,176 (*) It includes fees paid to members of the Advisory Committee of Banchile Corredores de Seguros Ltda, of Ch$13 million (Ch$12 million in December 2018 and Ch$18 in December 2017). Fees paid to the advisors of the Board of Directors amount to Ch$90 million (Ch$206 million in December 2018 and Ch$334 in December 2017) and travel and other related expenses amount to Ch$104 million (Ch$92 million in December 2018 and Ch$116 in December 2017). Composition of key personnel: N° of executives Position 2018 2019 CEO 1 1 CEOs of subsidiaries 6 6 Division Managers 13 13 Directors Bank and subsidiaries 20 21 Total 40 41 |
Fair Value of Financial Assets
Fair Value of Financial Assets and Liabilities | 12 Months Ended |
Dec. 31, 2019 | |
Fair Value of Financial Assets and Liabilities [abstract] | |
Fair Value of Financial Assets and Liabilities | Fair Value of Financial Assets and Liabilities: Banco de Chile and its subsidiaries have defined a corporate framework for valuation and control related with the process to the fair value measurement. Within the established framework includes the Product Control Unit (PCU), which is independent of the business areas and reports to the Financial Management and Control Division Manager. This function befalls on the Financial Control and Treasury Manager, through the Financial Risk Information and Control Section is responsible for independent verification of price and results of trading (including derivatives) and investment operations and all fair value measurements. To achieve the appropriate measurements and controls, the Bank and its subsidiaries, take into account at least the following aspects: (i) Industry standard valuation. To value financial instruments, Banco de Chile uses industry standard modeling and inputs, including quota value, share price, discounted cash flows and valuation of options through Black-Scholes-Merton, according to the case. The input parameters for the valuation correspond to rates, prices and levels of volatility for different terms and market factors that are traded in the national and international market and that are provided by main sources of the market. (ii) Quoted prices in active markets. The fair value for instruments with quoted prices in active markets is determined using daily quotes from electronic systems information (such as Bolsa de Comercio de Santiago, Bloomberg, LVA and Risk America, etc.). This quote represents the price at which these instruments are regularly traded in the financial markets. (iii) Valuation techniques. If no specific quotes are available for the instrument to be valued, valuation techniques will be used to determine the fair value. Due to the fact that, in general, the valuation models require a set of market parameters as inputs, the aim is to maximize information based on observable or prices-related quotations for similar instruments in active markets. To the extent there is no information available in direct from the markets, data from external suppliers of information, prices of similar instruments and historical information are used to validate the valuation parameters. (iv) Fair value adjustments. Part of the fair value process considers two adjustments to the market value of each instrument calculated based on the market parameters. The Bid/offer adjustment represents the impact on the valuation of an instrument depending on whether the position corresponds to a long (bought) or a short (sold). To calculate this adjustment is used the direct quotes from active markets or indicative prices or derivatives of similar assets depending on the instrument, considering the Bid, Mid and Offer, respectively. Finally, the adjustment made for CVA and DVA for derivatives corresponds to the credit risk recognition of the issuer, either of the counterparty (CVA) or of Banco de Chile (DVA). (v) Fair value control. A process of independent verification of prices and rates is executed daily, in order to control the market parameters used by Banco de Chile in the valuation of the financial instruments relating to the current state of the market and from them the best estimate derived of the fair value. The objective of this process is to control that the official market parameters provided by the respective business area, before being entered into the valuation, are within acceptable ranges of differences when compared to the parameters prepared independently by the Financial Risk Information and Control Section. As a result, value differences are obtained at the level of currency, product and portfolio. In the event significant differences exist, these differences are scaled according to the amount of individual materiality of each market factor and aggregated at the portfolio level, according to the grouping levels within previously defined ranges. These ranges are approved by the Finance, International and Financial Risk Committee. Complementary and in parallel, the Financial Risk Information and Control Section generates and reports on a daily basis Profit or Loss ("P&L") and Exposure to Market Risks, which allow for proper control and consistency of the parameters used in the valuation. (vi) Judgmental analysis and information to Management. In particular, in cases where there are no market quotations for the instrument to be valued and there are no prices for similar transactions instruments or indicative parameters, a specific controls and reasoned analysis must be carried out in order to estimate the fair value of the operation. Within the valuation framework described in the Reasonable Value Policy (and its procedure) approved by the Board of Directors of Banco de Chile, a required level of approval is set in order to carry out transactions where market information is not available or it is not possible to infer prices or rates from it. (a) Fair value hierarchy Banco de Chile and its subsidiaries, classify all the financial instruments among the following levels: Level 1: These are financial instruments whose fair value is calculated at quoted prices (unadjusted) in extracted from liquid and deep markets. For these instruments there are observable market prices (return internal rates, quote value, price) the observable market, so that assumptions are not required to determine the value. In this level, the following instruments are considered: currency futures, debt instruments issued by Chilean Central Bank and Treasury, which belong to benchmarks, mutual fund investments and equity shares. For the instruments of the Central Bank of Chile and the General Treasury of the Republic, all those mnemonics belonging to a Benchmark, in other words corresponding to one of the following categories published by the Santiago Stock Exchange, will be considered as Level 1: Pesos-02, Pesos-03, Pesos-04, Pesos-05, Pesos-07, Pesos-10, UF-02, UF-04, UF-05, UF-07, UF-10, UF-20, UF-30. A Benchmark corresponds to a group of mnemonics that are similar in duration and are traded in an equivalent way, i.e., the price (return internal rates in this case) obtained is the same for all the instruments that make up a Benchmark. This feature defines a greater depth of market, with daily quotations that allow classifying these instruments as Level 1. In the case of debt issued by the Government, the internal rate of return of the market is used to discount all flows to present value. In the case of mutual funds and equity shares, the current market price per share, this multiplied by the number of instruments results in the fair value. The preceding described valuation methodology is equivalent to the one used by the Bolsa de Comercio de Santiago (Santiago Stock Exchange) and corresponds with the standard methodology used in the market and is in accordance with standards used in IFRS. Level 2: They are financial instruments whose fair value is calculated based on prices other than in quoted in Level 1 that are observable for the asset or liability, directly (that is, as prices or internal rates of return) or indirectly (that is, derived from prices or internal rates of return from similar instruments). These categories include: a) Quoted prices for similar assets or liabilities in active markets. b) Quoted prices for identical or similar assets or liabilities in markets that are not active. c) Inputs data other than quoted prices that are observable for the asset or liability. d) Inputs data corroborated by the market. At this level there are mainly derivatives instruments, debt issued by banks, debt issued by Chilean and foreign companies, issued in Chile or abroad, mortgage notes, financial brokerage instruments and some issuances by the Central Bank of Chile and the General Treasury of Chile, which do not belong to benchmarks. To value derivatives, depends on whether they are impacted by volatility as a relevant market factor in standard valuation methodologies; for options the Black-Scholes-Merton formula is used; for the rest of the derivatives, forwards and swaps, discounted cash flows method is used. For the remaining instruments at this level, as for debt issues of Level 1, the valuation is done through cash flows model by using an estimated yield to maturity that can be derived or estimated from internal rates of return of similar securities as mentioned above. In the event that there is no observable price for an instrument in a specific term, the price will be inferred from the interpolation between periods that have observable quoted price in active markets. These models incorporate various market variables, including the credit quality of counterparties, exchange rates and interest rate curves. Valuation Techniques and Inputs for Level 2 Instrument: Type of Financial Instrument Valuation Method Description: Inputs and Sources Local Bank and Corporate Bonds Discounted cash flows model Prices (internal rates of return) are provided by third party price providers that are widely used in the Chilean market. Model is based on a Base Yield (Central Bank Bonds) and issuer spread. The model is based on daily prices and risk/maturity similarities between Instruments. Offshore Bank and Corporate Bonds Prices (internal rates of return) are provided by third party price providers that are widely used in the Chilean market. Model is based on daily prices. Local Central Bank and Treasury Bonds Prices (internal rates of return) are provided by third party price providers that are widely used in the Chilean market. Model is based on daily prices. Mortgage Notes Prices (internal rates of return) are provided by third party price providers that are widely used in the Chilean market. Model is based on a Base Yield (Central Bank Bonds) and issuer spread. The model takes into consideration daily prices and risk/maturity similarities between instruments. Time Deposits Prices are provided by third party price providers that are widely used in the Chilean market. Model is based on daily prices and considers risk/maturity similarities between instruments. Cross Currency Swaps, Interest Rate Swaps, FX Forwards, Inflation Forwards Forward Points, Inflation forecast and local swap rates are provided by market brokers that are widely used in the Chilean market Offshore rates and spreads are obtained from third party price providers that are widely used in the Chilean market. Zero Coupon rates are calculated by using the bootstrapping method over swap rates. FX Options Black-Scholes Model Prices for volatility surface estimates are obtained from market brokers that are widely used in the Chilean market. Level 3: These are financial instruments whose fair value is determined using non-observable inputs data neither for the assets or liabilities under analysis nor for similar instruments. An adjustment to an input that is significant to the entire measurement can result in a fair value measurement classified within Level 3 of the fair value hierarchy, if the adjustment uses significant non-observable data entry. The instruments likely to be classified as Level 3 are mainly Corporate Debt by Chilean and foreign companies, issued both in Chile and abroad. Valuation Techniques and Inputs for Level 3 Instrument: Type of Financial Instrument Valuation Method Description: Inputs and Sources Local Bank and Corporate Bonds Discounted cash flows model Since inputs for these types of securities are not observable by the market, we model interest rate of returns for them based on a Base Yield (Central Bank Bonds) and issuer spread. These inputs (base yield and issuer spread) are provided on a daily basis by third party price providers that are widely used in the Chilean market. Offshore Bank and Corporate Bonds Discounted cash flows model Since inputs for these types of securities are not observable by the market, we model interest rate of returns for them based on a Base Yield (US-Libor) and issuer spread. These inputs (base yield and issuer spread) are provided on a weekly basis by third party price providers that are widely used in the Chilean market. (b) Level hierarchy classification and figures: The following table shows the figures by hierarchy, for instruments recorded at fair value in the statement of financial position as of December 31, 2018 and 2019. Level 1 Level 2 Level 3 Total 2018 2019 2018 2019 2018 2019 2018 2019 MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Financial Assets Financial assets held-for-trading From the Chilean government and Central Bank 178,692 93,032 1,344,780 1,030,657 ― ― 1,523,472 1,123,689 Other instruments issued in Chile 1,663 3,272 107,078 316,971 20,866 55,094 129,607 375,337 Instruments issued abroad 4,446 ― ― ― ― ― 4,446 ― Mutual fund investments 87,841 373,329 ― ― ― ― 87,841 373,329 Subtotal 272,642 469,633 1,451,858 1,347,628 20,866 55,094 1,745,366 1,872,355 Derivative contracts for trading purposes Forwards ― ― 735,444 956,632 ― ― 735,444 956,632 Swaps ― ― 738,130 1,761,952 ― ― 738,130 1,761,952 Call options ― ― 4,839 4,961 ― ― 4,839 4,961 Put options ― ― 120 1,076 ― ― 120 1,076 Futures ― ― ― ― ― ― ― ― Subtotal ― ― 1,478,533 2,724,621 ― ― 1,478,533 2,724,621 Hedge derivative contracts Fair value hedge (Swaps) ― ― 1,116 32 ― ― 1,116 32 Cash flow hedge (Swaps) ― ― 34,298 61,562 ― ― 34,298 61,562 Subtotal ― ― 35,414 61,594 ― ― 35,414 61,594 Total ― ― 1,513,947 2,786,215 ― ― 1,513,947 2,786,215 Financial assets at fair value through other comprehensive income Debt instruments (1) From the Chilean government and Central Bank 99,132 66,953 65,090 42,109 ― ― 164,222 109,062 Instruments issued in Chile ― ― 747,653 1,221,862 23,021 7,069 770,674 1,228,931 Instruments issued abroad ― ― 108,544 19,853 ― ― 108,544 19,853 Subtotal 99,132 66,953 921,287 1,283,824 23,021 7,069 1,043,440 1,357,846 Equity instruments: Instruments issued in Chile ― ― 8,939 7,446 ― ― 8,939 7,446 Instruments issued abroad 723 955 ― ― 89 96 812 1,051 Subtotal 723 955 8,939 7,446 89 96 9,751 8,497 Total 99,855 67,908 930,226 1,291,270 23,110 7,165 1,053,191 1,366,343 Total 372,497 537,541 3,896,031 5,425,113 43,976 62,259 4,312,504 6,024,913 Financial liabilities Derivative contracts for trading purposes Forwards ― ― 631,089 673,932 ― ― 631,089 673,932 Swaps ― ― 854,708 2,097,022 ― ― 854,708 2,097,022 Call options ― ― 2,921 1,529 ― ― 2,921 1,529 Put options ― ― 1,534 2,209 ― ― 1,534 2,209 Futures ― ― ― ― ― ― ― ― Subtotal ― ― 1,490,252 2,774,692 ― ― 1,490,252 2,774,692 Hedge derivative contracts Fair value hedge (Swaps) ― ― 6,164 9,286 ― ― 6,164 9,286 Cash flow hedge (Swaps) ― ― 31,818 34,443 ― ― 31,818 34,443 Subtotal ― ― 37,982 43,729 ― ― 37,982 43,729 Total ― ― 1,528,234 2,818,421 ― ― 1,528,234 2,818,421 (1) As of December 31, 2019, 98% of instruments of Level 3 have denomination "Investment Grade". Also, 100% of total of these financial instruments correspond to domestic issuers. (c) Level 3 Reconciliation The following tables show the reconciliation between the beginning and ending balances of instruments classified as Level 3, whose fair value is reflected in the Financial Statements. 2018 Balance as of January 1, Gain (Loss) Recognized in Income (1) Gain (Loss) Recognized in Equity (2) Purchases Sales Transfer from Level 1 and 2 Transfer to Level 1 and 2 Balance as of December 31, MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Financial Assets Financial assets held-for-trading: Other instruments issued in Chile 8,012 176 — 48,740 (36,062 ) — — 20,866 Subtotal 8,012 176 — 48,740 (36,062 ) — — 20,866 Financial assets at fair value through OCI: Debt instruments: Other instruments issued in Chile 46,265 2,539 (292 ) — (20,520 ) — (4,971 ) 23,021 Equity instruments: Instruments issued abroad 50 — 39 — — — — 89 Subtotal 46,315 2,539 (253 ) — (20,520 ) — (4,971 ) 23,110 Total 54,327 2,715 (253 ) 48,740 (56,582 ) — (4,971 ) 43,976 2019 Balance as of January 1, Gain (Loss) Recognized in Income (1) Gain (Loss) Recognized in Equity (2) Purchases Sales Transfer from Level 1 and 2 Transfer to Level 1 and 2 Balance as of December 31, MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Financial Assets Financial assets held-for-trading: Other instruments issued in Chile 20,866 (38 ) — 48,017 (26,504 ) 13,368 (615 ) 55,094 Subtotal 20,866 (38 ) — 48,017 (26,504 ) 13,368 (615 ) 55,094 Financial assets at fair value through OCI: Debt instruments: Other instruments issued in Chile 23,021 968 (517 ) — (18,177 ) 1,774 — 7,069 Equity instruments: Instruments issued abroad 89 — 7 — — — — 96 Subtotal 23,110 968 (510 ) — (18,177 ) 1,774 — 7,165 Total 43,976 930 (510 ) 48,017 (44,681 ) 15,142 (615 ) 62,259 (1) It is recorded in the income statement under "Net financial operating income" (2) It is recorded in Equity under "Other Comprehensive Income" (d) Transfers between levels: The following tables show transfers between levels for financial assets and liabilities whose fair value is recorded in the consolidated financial statements: Transfers from level 1 to level 2 2018 Financial assets MCh$ Financial assets held-for-trading instruments From the Chilean Government and Central Bank 496 Instruments issued abroad From the Chilean Government and Central Bank ― Transfers from level 2 to level 1 2018 Financial assets MCh$ Financial assets held-for-trading instruments From the Chilean Government and Central Bank ― Instruments issued abroad From the Chilean Government and Central Bank ― Transfers from level 1 to level 2 2019 Financial assets MCh$ Financial assets held-for-trading instruments From the Chilean Government and Central Bank 84 Financial assets at fair value through OCI From the Chilean Government and Central Bank ― Transfers from level 2 to level 1 2019 Financial assets MCh$ Financial assets held-for-trading instruments From the Chilean Government and Central Bank 17 Financial assets at fair value through OCI From the Chilean Government and Central Bank ― (e) Sensitivity of Level 3 instruments to changes in key assumptions of the input parameters for the valuation model: The following table shows the impact on the fair value of Level 3 financial instruments using alternative assumptions that are reasonably possible. It is believed that the positive and negative impacts are similar: As of December 31, 2018 As of December 31, 2019 Level 3 Sensitivity to changes in key assumptions of models Level 3 Sensitivity to changes in key assumptions of models Financial Assets MCh$ MCh$ MCh$ MCh$ Financial assets held-for-trading Other instruments issued in Chile 20,866 (26 ) 55,094 (466 ) Subtotal 20,866 (26 ) 55,094 (466 ) Financial assets at fair value through OCI Debt instrument: Other instruments issued in Chile 23,021 (195 ) 7,069 (86 ) Equity instrument: Instruments issued abroad 89 ― 96 ― Subtotal 23,110 (195 ) 7,165 (86 ) Total 43,976 (221 ) 62,259 (552 ) With the purpose to determine the sensitivity of the financial investments to changes in significant market factors, the Bank has made alternative calculations at fair value, changing those key parameters for the valuation and which are not directly observable in screens. In the case of financial assets presented in the table above, which corresponds to bank bonds and corporate bonds, input prices, prices based on broker quotes or runs were used, considering that these instruments do not have current prices or observables. Prices are generally calculated as a base rate plus a spread. For local bonds, this was determined by applying only a 10% impact on the price, while for offshore bonds this was determined by applying only a 10% impact on the spread because the base rate is hedged with instruments on interest rate swaps so-called hedge accounting. The impact of 10% is considered a reasonable move considering the market performance of these instruments and comparing it against the adjustment bid/offer that is provided for by these instruments. (f) Other assets and liabilities not measured at fair value: The following table summarizes the fair values of the Bank's main financial assets and liabilities that are not recorded at fair value in the Statement of Financial Position. The values shown in this note do not attempt to estimate the value of the Bank's income-generating assets, nor forecast their future behavior. The estimated fair value is as follows: Book Value Fair Value 2018 2019 2018 2019 MCh$ MCh$ MCh$ MCh$ Assets Cash and due from banks 880,081 2,392,166 880,081 2,392,166 Transactions in the course of collection 289,194 331,420 289,194 331,420 Investments under resale agreements 97,289 142,329 97,289 142,329 Subtotal 1,266,564 2,865,915 1,266,564 2,865,915 Loans and advances to banks Domestic banks 99,776 149,974 99,776 149,974 Chilean Central Bank 1,100,831 630,053 1,100,831 630,053 Foreign banks 293,777 360,054 286,063 358,542 Subtotal 1,494,384 1,140,081 1,486,670 1,138,569 Loans to Customers at amortized cost Commercial loans 15,209,534 16,039,411 14,949,852 15,988,330 Residential mortgage loans 8,017,743 9,163,019 8,451,099 9,888,506 Consumer loans 4,113,977 4,181,609 4,116,261 4,215,509 Subtotal 27,341,254 29,384,039 27,517,212 30,092,345 Total 30,102,202 33,390,035 30,270,446 34,096,829 Liabilities Current accounts and other demand deposits 9,584,488 11,326,133 9,584,488 11,326,133 Transactions in the course of payment 44,436 98,869 44,436 98,869 Obligations under repurchase agreements 303,820 308,734 303,820 308,734 Saving accounts and time deposits 10,656,174 10,856,618 10,632,350 10,795,125 Borrowings from financial institutions 1,516,759 1,563,277 1,506,940 1,555,129 Other financial obligations 118,014 156,229 119,024 160,361 Subtotal 22,223,691 24,309,860 22,191,058 24,244,351 Debt issued Letters of credit for residential purposes 15,040 10,229 15,982 11,081 Letters of credit for general purposes 1,328 669 1,411 725 Bonds 6,772,990 7,912,621 6,897,317 8,340,272 Subordinated bonds 686,194 889,895 732,611 1,004,621 Subtotal 7,475,552 8,813,414 7,647,321 9,356,699 Total 29,699,243 33,123,274 29,838,379 33,601,050 Other financial assets and liabilities not measured at their fair value, but for which a fair value is estimated, even if not managed based on such value, include assets and liabilities such as placements, deposits and other time deposits, debt issued, and other financial assets and obligations with different maturities and characteristics. The fair value of these assets and liabilities is calculated using the Discounted Cash Flow model and the use of various data sources such as yield curves, credit risk spreads, etc. In addition, because some of these assets and liabilities are not traded on the market, periodic reviews and analyzes are required to determine the suitability of the inputs and determined fair values. (g) Levels of other assets and liabilities: The table below sets forth the fair value of Financial Assets/Liabilities not measured at fair value on the balance sheet, for the years ended December 31, 2018 and 2019: Level 1 Level 2 Level 3 Total Estimated Fair Value Estimated Fair Value Estimated Fair Value Estimated Fair Value 2018 2019 2018 2019 2018 2019 2018 2019 MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Assets Cash and due from banks 880,081 2,392,166 ― ― ― ― 880,081 2,392,166 Transactions in the course of collection 289,194 331,420 ― ― ― ― 289,194 331,420 Investments under resale agreements 97,289 142,329 ― ― ― ― 97,289 142,329 Subtotal 1,266,564 2,865,915 ― ― ― ― 1,266,564 2,865,915 Loans and advances to banks Domestic banks 99,776 149,974 ― ― ― ― 99,776 149,974 Central bank 1,100,831 630,053 ― ― ― ― 1,100,831 630,053 Foreign banks ― ― ― ― 286,063 358,542 286,063 358,542 Subtotal 1,200,607 780,027 ― ― 286,063 358,542 1,486,670 1,138,569 Loans to Customers at amortized cost Commercial loans ― ― ― ― 14,949,852 15,988,330 14,949,852 15,988,330 Residential mortgage loans ― ― ― ― 8,451,099 9,888,506 8,451,099 9,888,506 Consumer loans ― ― ― ― 4,116,261 4,215,509 4,116,261 4,215,509 Subtotal ― ― ― ― 27,517,212 30,092,345 27,517,212 30,092,345 Total 2,467,171 3,645,942 ― ― 27,803,275 30,450,887 30,270,446 34,096,829 Liabilities Current accounts and other demand deposits 9,584,488 11,326,133 ― ― ― ― 9,584,488 11,326,133 Transactions in the course of payment 44,436 98,869 ― ― ― ― 44,436 98,869 Obligations under repurchase agreements 303,820 308,734 ― ― ― ― 303,820 308,734 Savings accounts and time deposits ― ― ― ― 10,632,350 10,795,125 10,632,350 10,795,125 Borrowings from financial institutions ― ― ― ― 1,506,940 1,555,129 1,506,940 1,555,129 Other financial obligations ― ― ― ― 119,024 160,361 119,024 160,361 Subtotal 9,932,744 11,733,736 ― ― 12,258,314 12,510,615 22,191,058 24,244,351 Debt Issued Letters of credit for residential purposes ― ― 15,982 11,081 ― ― 15,982 11,081 Letters of credit for general purposes ― ― 1,411 725 ― ― 1,411 725 Bonds ― ― 6,897,317 8,340,272 ― ― 6,897,317 8,340,272 Subordinate bonds ― ― ― ― 732,611 1,004,621 732,611 1,004,621 Subtotal ― ― 6,914,710 8,352,078 732,611 1,004,621 7,647,321 9,356,699 Total 9,932,744 11,733,736 6,914,710 8,352,078 12,990,925 13,515,236 29,838,379 33,601,050 We estimate fair values for these assets/liabilities, as follows: ● Short-Term Financial Assets/Liabilities: For assets and liabilities with no specific maturity (on demand) or terms of less than three months we use the carrying or book values as proxies of their fair value, since their tenors are not believed to significantly affect their valuation. As a result, these assets/liabilities are categorized in Level 1. This assumption is applied to the following assets/liabilities: Assets Liabilities - Cash and due from banks - Current accounts and other demand deposits - Transactions in the course of collection - Transactions in the course of payments - Investment under resale agreements - Obligations under repurchase agreements - Loans and advance to domestic banks ● Loans to Customers at amortized cost and Advance to foreign banks: Fair value is determined by using the discounted cash flow model and internally generated discount rates, based on internal transfer rates derived from our internal transfer price process. Once the present value is determined, we deduct the related loan loss allowances in order to incorporate the credit risk associated with each contract or loan. As we use internally generated parameters for valuation purposes, we categorize these instruments in Level 3. ● Letters of Credit and Bonds: In order to determine the present value of contractual cash flows, we apply the DCF model by using market interest rates that are available in the market, either for the instruments under valuation or instruments with similar features that fit valuation needs in terms of currency, maturities and liquidity. The market interest rates are obtained from third party price providers widely used by the market. As a result of the valuation technique and the quality of inputs (observable) used for valuation, we categorize these financial liabilities in Level 2. ● Saving Accounts, Time Deposits, Borrowings from Financial Institutions, Subordinated Bonds and Other borrowings financial: The DCF model is used to obtain the present value of committed cash flows by applying a bucket approach and average adjusted discount rates that are derived from both market rates for instruments with similar features and our internal transfer price process. As we use internally generated parameters and/or apply significant judgmental analysis for valuation purposes, we categorize these financial assets/liabilities in Level 3. (h) Offsetting of financial assets and liabilities: In accordance with IAS 32 Financial Instruments: Presentation, the Bank should report financial assets and financial liabilities on a net basis on the balance sheet only if there is a legally enforceable right to set off the recognized amounts and there is intention to settle on a net basis, or to realize the asset and settle the liability simultaneously. Because Bank's netting agreements do not qualify for balance sheet netting, it presents its financial instruments on a gross basis on the balance sheet. The following table shows the impact of netting arrangements on all derivative financial instruments that are subject to enforceable master netting agreements or similar agreements (including financial collaterals), but do not qualify for balance sheet netting. The "Net amounts" presented below are not intended to represent the Bank's actual exposure to credit risk, as a variety of credit mitigation strategies are employed in addition to netting and collateral arrangements. Effect of offsetting on balance sheet Related amount not offset Gross amount Amounts offset Net amounts reported on the balance sheet Financial Instruments Financial Collateral Net amount MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ As of December 31, 2018 Derivative financial assets 1,513,947 ― 1,513,947 (1,007,130 ) (30,036 ) 476,781 Derivative financial liabilities 1,528,234 ― 1,528,234 (1,007,130 ) (233,450 ) 287,654 Effect of offsetting on balance sheet Related amount not offset Gross amount Amounts offset Net amounts reported on the balance sheet Financial Instruments Financial Collateral Net amount MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ As of December 31, 2019 Derivative financial assets 2,786,215 ― 2,786,215 (2,113,970 ) (43,337 ) 628,908 Derivative financial liabilities 2,818,421 ― 2,818,421 (2,113,970 ) (418,988 ) 285,463 Derivative assets and liabilities The "Financial Instruments" column identifies financial assets and liabilities that are subject to set off under netting agreements, such as the ISDA Master Agreement of derivative exchange or clearing counterparty agreements, whereby all outstanding transactions with the same counterparty could be offset and close-out netting applied across all outstanding transaction covered by the agreements if an event of default or other predetermined events occur ("early contract termination"). Financial collateral refers to cash and non-cash collateral obtained, typically daily or weekly, to cover the net exposure between counterparties by enabling the collateral to be realized in an event of default or if other predetermined events occur ("early contract termination"). |
Maturity of Assets and Liabilit
Maturity of Assets and Liabilities | 12 Months Ended |
Dec. 31, 2019 | |
Maturity of Assets and Liabilities [abstract] | |
Maturity of Assets and Liabilities | Maturity of Assets and Liabilities: The table below shows the classification of assets and liabilities as current and non-current as the balance sheet is presented in the order of liquidity without indicating this information: 2018 Up to 1 month Over 1 month and up to 3 months Over 3 month and up to 12 months Subtotal up to 1 year Over 1 year and up to 3 years Over 3 year and up to 5 years Over 5 years Subtotal over 1 Total Assets MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Cash and due from banks 880,081 ― ― 880,081 ― ― ― ― 880,081 Transactions in the course of collection 289,194 ― ― 289,194 ― ― ― ― 289,194 Financial Assets held-for-trading 1,745,366 ― ― 1,745,366 ― ― ― ― 1,745,366 Investments under resale agreements 73,496 16,918 6,875 97,289 ― ― ― ― 97,289 Derivative instruments 157,417 241,305 378,093 776,815 274,200 214,863 248,069 737,132 1,513,947 Loans and advances to banks (*) 1,262,428 77,268 132,259 1,471,955 23,441 ― ― 23,441 1,495,396 Loans to customers at amortized cost (*) 3,954,066 2,143,023 4,973,622 11,070,711 5,726,668 3,133,606 7,995,647 16,855,921 27,926,632 Financial Assets at Fair Value through Other Comprehensive Income 38,691 137,420 383,200 559,311 74,940 136,342 282,598 493,880 1,053,191 Financial assets held-to-maturity ― ― ― ― ― ― ― ― ― Total financial assets 8,400,739 2,615,934 5,874,049 16,890,722 6,099,249 3,484,811 8,526,314 18,110,374 35,001,096 2019 Up to 1 month Over 1 month and up to 3 months Over 3 month and up to 12 months Subtotal up to 1 year Over 1 year and up to 3 years Over 3 year and up to 5 years Over 5 years Subtotal over 1 Total Assets MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Cash and due from banks 2,392,166 ― ― 2,392,166 ― ― ― ― 2,392,166 Transactions in the course of collection 331,420 ― ― 331,420 ― ― ― ― 331,420 Financial Assets held-for-trading 1,872,355 ― ― 1,872,355 ― ― ― ― 1,872,355 Investments under resale agreements 102,057 29,393 10,879 142,329 ― ― ― ― 142,329 Derivative instruments 158,873 314,446 621,036 1,094,355 543,469 411,470 736,921 1,691,860 2,786,215 Loans and advances to banks (*) 876,119 97,585 166,487 1,140,191 ― ― ― ― 1,140,191 Loans to customers at amortized cost (*) 4,175,064 2,340,320 5,685,646 12,201,030 5,624,031 3,198,639 9,009,572 17,832,242 30,033,272 Financial Assets at Fair Value through Other Comprehensive Income 23,786 225,772 779,872 1,029,430 106,930 30,080 199,903 336,913 1,366,343 Financial assets held-to-maturity ― ― ― ― ― ― ― ― ― Total financial assets 9,931,840 3,007,516 7,263,920 20,203,276 6,274,430 3,640,189 9,946,396 19,861,015 40,064,291 (*) The respective provisions, which amount to Ch$585,378 million and Ch$649,233 million in 2018 and 2019, respectively, for loans to customers and Ch$1,012 million and Ch$110 million for loans and advances to banks, have not been deducted from these balances. 2018 Up to 1 month Over 1 month and up to 3 months Over 3 month and up to 12 months Subtotal up to 1 year Over 1 year and up to 3 years Over 3 year and up to 5 years Over 5 years Subtotal over 1 year Total Liabilities MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Current accounts and other demand deposits 9,584,488 ― ― 9,584,488 ― ― ― ― 9,584,488 Transactions in the course of payment 44,436 ― ― 44,436 ― ― ― ― 44,436 Obligations under repurchase agreements 237,999 1,448 64,373 303,820 ― ― ― ― 303,820 Savings accounts and time deposits (**) 5,018,791 1,946,688 3,100,464 10,065,943 365,177 619 132 365,928 10,431,871 Derivative instruments 146,764 237,039 335,497 719,300 264,438 273,790 270,706 808,934 1,528,234 Borrowings from financial institutions 115,220 269,412 1,052,830 1,437,462 79,297 ― ― 79,297 1,516,759 Debt issued: Mortgage bonds 1,453 1,618 3,581 6,652 5,911 2,577 1,228 9,716 16,368 Bonds 325,766 275,688 583,876 1,185,330 844,692 1,505,660 3,237,308 5,587,660 6,772,990 Subordinate bonds 4,220 2,254 44,901 51,375 41,122 27,906 565,791 634,819 686,194 Other financial obligations 97,393 3,505 10,126 111,024 5,555 1,307 128 6,990 118,014 Total financial liabilities 15,576,530 2,737,652 5,195,648 23,509,830 1,606,192 1,811,859 4,075,293 7,493,344 31,003,174 2019 Up to 1 month Over 1 month and up to Over 3 month and up to 12 months Subtotal up to 1 year Over 1 year and up to 3 years Over 3 year and up to 5 years Over 5 years Subtotal over 1 year Total Liabilities MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Current accounts and other demand deposits 11,326,133 ― ― 11,326,133 ― ― ― ― 11,326,133 Transactions in the course of payment 98,869 ― ― 98,869 ― ― ― ― 98,869 Obligations under repurchase agreements 298,711 8,583 1,440 308,734 ― ― ― ― 308,734 Savings accounts and time deposits (**) 6,130,583 1,979,110 2,224,778 10,334,471 281,384 492 421 282,297 10,616,768 Derivative instruments 156,291 237,743 616,472 1,010,506 608,516 469,861 729,538 1,807,915 2,818,421 Borrowings from financial institutions 69,711 349,478 1,049,781 1,468,970 94,307 ― ― 94,307 1,563,277 Debt issued: Mortgage bonds 1,102 1,212 2,622 4,936 3,868 1,579 515 5,962 10,898 Bonds 423,966 211,648 413,485 1,049,099 1,460,318 1,746,745 3,656,459 6,863,522 7,912,621 Subordinate bonds 3,041 2,460 115,933 121,434 38,525 18,251 711,685 768,461 889,895 Other financial obligations 140,449 1,436 6,490 148,375 6,383 1,471 ― 7,854 156,229 Lease liabilities 2,353 4,776 20,841 27,970 51,571 28,463 38,009 118,043 146,013 Total financial liabilities 18,651,209 2,796,446 4,451,842 25,899,497 2,544,872 2,266,862 5,136,627 9,948,361 35,847,858 (**) Excludes term saving accounts, which amount to Ch$239,850 million (Ch$224,303 million in December 2018). |
Risk Management
Risk Management | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of nature and extent of risks arising from financial instruments [abstract] | |
Risk Management | 42. Risk Management: (1) Introduction The Bank's risk management is based on specialization, knowledge of the business and the experience of its teams, with professionals specifically dedicated to each different type of risks. Our policy is to maintain an integrated, forward looking approach to risk management, taking into account the current and forecasted economic environment and the risk/return ratio of all products for both the Bank and its subsidiaries. Our risk management policies are established in order to identify and analyze the risks faced by the Bank, set appropriate risk limits and controls, and to monitor the risks and compliance with the limits. Policies and risk management systems are reviewed regularly. Through its administration policies and procedures, the Bank develops a disciplined and constructive control environment. (a) Risk Management Structure Credit and Market Risk Management are at the all levels of the Organization, with a structure that recognizes the relevance of the different risk areas that exist. The current levels are: (i) Board of Directors The Board is responsible for approving the policies and establishing the structure for the proper administration of the various risks faced by the organization. The Board is permanently informed of the evolution of the different risk areas, participating through its Finance, International and Financial Risk, Credit, Portfolio Risk Committee and Higher Operational Risk Committee, in which the status of credit, market and operational risks are reviewed. (ii) Finance, International and Financial Risk Committee This committee functions are to design policies and procedures related to price and liquidity risk; design a structure of limits and alerts of financial exposures, and ensure a correct and timely measurement, control and reporting thereof; track exposures and financial risks; analyze impacts on the valuation of operations and / or results due to potential adverse movements in the values of market variables or liquidity narrowness; review the stress test assumptions and establish action plans where appropriate ; ensure the existence of independent units that value financial positions, and analyze the results of financial positions; track the international financial exposure of liabilities; review the main credit exposures of Treasury products (derivatives, bonds); ensure that the management guidelines for price and liquidity risks in subsidiaries are consistent with those of the Bank, and be aware of the evolution of their main financial risks. The Finance, International and Financial Risk Committee, sessions monthly and comprises of the Chairman of the Board, two Directors or Advisors to the Board, General Manager, Corporate Division Manager, Wholesale Credit Risk Division Manager, Treasury Division Manager and Financial Risk Area Manager. If deemed appropriate, the Committee may invite certain persons to participate, on a permanent or occasional basis, in one or more sessions. (iii) Credit Committees The credit approval process is done mainly through various credit committees, which are composed of qualified professionals and with the necessary attributions to take decisions required. Each committee is responsible for defining the terms and conditions under which the Bank accepts counterparty risks and the Retail Credit Risk and Wholesale Credit Risk Divisions participate independently and autonomously of the commercial areas. They are constituted according to the commercial segments and the amounts to approve and have different meeting periodicities. Within the risk management structure of the Bank, the maximum approval instance is the Credit Committee of Directors. Sessions weekly and comprises of the Chairman of the Board, regular and alternate directors, Board Advisors, General Manager and the Wholesale Credit Risk Division Manager. This Committee is responsible for knowing, analyzing and resolving all credit operations associated with clients and / or economic groups whose total amount subject for approval is equal to or greater than UF 750,000. It also has to know, analyze and resolve all those credit operations that, in accordance with the established in the Bank's internal rules, must be approved by this Committee, with the exception of the special powers delegated by the Board to the Administration. (iv) Portfolio Risk Committee The main function is to know the evolution of the composition, concentration and risk of the loan portfolio of the different banks and segments. Review the main debtors and the different risk indicators of the portfolio, proposing differentiated management strategies. Approves and proposes to the Board the different credit risk policies. It is responsible for reviewing, approving and recommending to the Board of Directors, for its final approval, the different portfolio evaluation methodologies and provision models. It is also responsible for reviewing and analyzing the adequacy of provisions for the different banks and segments. Also to review the guidelines and methodological advances for the development of internal models of credit risk, together with monitoring the concentration by sectors and segments according to the sectoral limits policy. In general, any matter that involves Credit Risk on which senior management must pronounce. The Portfolio Risk Committee meets monthly and comprises of the Chairman of the Board, a regular and alternate Director, General Manager, Wholesale Credit Risk Division Manager, Retail Credit Risk Division Manager, Commercial Division Manager, Risk Management and Information Control Manager. (v) Corporate Credit Risk Structure The bank corporate governance considers the active participation of the Board, who establishes the policies and guidelines regarding the accepted risk levels, the Administration being responsible for the control and compliance with the provisions set forth by the Board, together with the setting of standards and procedures related. Likewise, the Board establishes the guidelines for the development and validation of models, approves the provisions models and pronounced about the sufficiency of provisions. At the administration level, the Retail Credit Risk, Wholesale Credit Risk and Global Risk Control divisions comprise the corporate risk governance structure, which through specialized teams, added to a robust regulatory framework of processes and procedures allow optimal management and effective in the subjects they address. The first two are responsible for the credit risk in the admission, monitoring and recovery phases, in the respective Retail and Wholesale segments. Along with this, in the Retail Credit Risk Division the different methodologies related to regulatory and management aspects are developed. The Wholesale Credit Risk Division, in turn, has a Market Risk Area responsible for measuring, limiting, controlling and reporting said risk along with the valuation standards definition. The Global Risk Control Division through the Operational and Technological Risk Areas, which incorporates Business Continuity, is responsible for controlling those risks, also has an Internal Validation Area of Risk Models. Additionally, the Bank has a Cybersecurity Division, focused on protecting and monitoring the most sensitive assets of the organization, being able to provide security and confidence to customers and collaborators, whose main objective is to have a secure bank, cyber-resilient and prepared to face any type of threat that puts the reputation and information of the organization at risk. These divisions have teams with extensive experience and knowledge in each area associated with credit and market risks, ensuring their integral and consolidated management, including the Bank and its subsidiaries. (b) Measurement Methodology Regarding to Credit Risk, provision levels and portfolio expenses are the basic measures for determining the credit quality of our portfolio. Banco de Chile permanently evaluates its loan portfolio, timely recognizing the associated level of risk of the loan portfolio. For this comprehensive credit risk assessment, there are policies, standards, procedures, along with models developed in accordance with the instructions issued by the Financial Market Commission ("CMF") and approved by the Board of Directors. As a result of this evaluation, on both individual and group portfolios, the level of provisions that the bank should constitute is determined, in the event of customers payment default. The individual evaluation mainly applies to the Bank's portfolio of legal persons that, due to their size, complexity or indebtedness, requires a more detailed level of knowledge and a case-by-case analysis. Each debtor individually assessed is assigned one of the 16 risk categories defined by the CMF, in order to establish the provisions in a timely and appropriate manner. This review of the portfolio risk classifications is carried out permanently considering the financial situation, payment behavior and the environment of each client. The group evaluation mainly applies to the portfolio of natural persons and smaller companies. These assessments are carried out monthly through statistical models that allow estimating the appropriate level of provisions necessary to cover the portfolio risk. The consistency of the models is analyzed through an independent validation of the unit that develops them and, subsequently, through the analysis of retrospective tests that allow to compare the real losses with the expected ones. The Bank annually performs a sufficiency test of provisions for the total portfolio of loans, in order to validate the quality and robustness of the risk assessment processes, verifying that the provisions constituted are sufficient to cover the losses that could be derive from the credit operations granted. The result of this analysis is presented to the Board of Directors, who declares on the sufficiency of the provisions in each year. Banco de Chile constitutes additional provisions with the objective of protecting itself from the risk of unpredictable economic fluctuations that may affect the macroeconomic environment or the situation of a specific economic sector. The amount of additional provisions to be constituted or released is annually proposed to the Portfolio Risk Committee and subsequently to the Board of Directors for approval. The monitoring and control of risks are carried out mainly based on limits established by the Board of Directors. These limits reflect the Bank's business and market strategy, as well as the level of risk that it is willing to accept, with additional emphasis on the selected industries. The Bank's General Manager receives on daily basis, and the Finance, International and Financial Risk Committee on a monthly basis, the evolution of the Bank's price and liquidity risk status, both according to internal metrics and those imposed by the regulators. (2) Credit Risk Credit risk considers the likelihood that the counterparty in the credit operation will not meet its contractual obligation due to incapacity or financial insolvency, and this leads to a potential credit loss. Credit risk management has a relevant focus on the adequate risk-return relation, is permanent and considers the processes of admission, monitoring and recovery of loans granted. In this management, an adequate balance of the risks assumed is taken into account, ensuring the solvency of the Bank over time. The established credit risk policies and processes recognize the singularities that exist in the different markets and segments, and grant a specialized treatment to each of them. The above results in the following management principles: 1. Rigorous evaluation in the admission process applying the defined credit risk policies, their associated rules and procedures, together with the availability of sufficient and accurate information. This implies analyzing the generation of flows and solvency of the client to meet the payment commitments and, when the characteristics of the operation merit it, must constitute adequate collateral that allow mitigating the risk incurred with the client. 2. Have permanent and robust portfolio tracking processes, through systems that alert both the potential signs of impairment in relation to the conditions of origin, as well as the possible business opportunities with those clients that present a better payments quality and behavior. 3. To develop advanced modeling and data management tools that allow for efficient decision-making at different stages of the credit process. 4. Have a collection structure with agile and efficient processes that allow carrying out procedures according to the different types of defaults presented by the clients. 5. Maintain an efficient administration in work teams organization, tools and availability of information that allow an optimal credit risk management. Credit Risk Divisions continuously manage risk knowledge in order to contribute to the business and anticipate threats that may affect the solvency and quality of the portfolio. Its mission is to establish the Credit Risk management framework for the different segments of the Bank, within the defined regulatory scope and at the risk established by the entity, through a portfolio vision that allows us to manage, resolve and control the process of approval of operations related to the different portfolios of the Bank, in an efficient and proactive manner. (a) Retail Segment Admission management in these segments is mainly carried out through an evaluation that uses scoring tools, accompanied by an adequate model of credit attributions, which are required to approve each operation. These evaluations take into account the level of indebtedness, payment capacity and the maximum acceptable exposure for the client. In these segments, the Bank has segregated functions, distributed in the following areas: − Model Area, has the responsibility of constructing statistical models, establishing the variables and their respective weightings. These models are validated by the Model Validation Area and submitted to the Models Technical Committee before approval in the Portfolio Risk Committee or the Board of Directors, as appropriate. − Area of Integration in Management is responsible for incorporating statistical models in credit evaluation processes, ensuring an adequate linkage of the decision. − Admission Area performs the evaluation of operations and clients, with specialization by regions and segments, which favors their knowledge of clients and socio-economic background. It also maintains a framework of policies and standards that ensure the quality of the portfolio according to the desired risk, defining guidelines for the admission of clients that are released to commercial and risk areas through programs and continuous training. − Model and Portfolio Tracking Area is responsible for evaluating and measuring the performance of the models and the behavior of the portfolios, the latter especially through the monitoring of the main indicators of aggregate portfolio and layers analysis, reported in management reports, generating relevant information for decision making in different defined instances. This Area also ensures proper execution of the strategy, meeting the objectives of risk quality and return. − Collection Area performs a cross-collection management in the Bank and centralizes recovery management in retail segments through Socofin, Bank's subsidiary company, defining refinancing criteria and payment agreements with customers, along with the incorporation of robust tools for collection management. (b) Wholesale Segment Admission management in these segments is based on an individual evaluation of the client and if it belongs to a group of companies, the relationship of the rest of the group with the Bank is also considered. This individual and group evaluation, if applicable, considers, among others, the financial capacity with emphasis on equity solvency, generation capacity, exposure levels, industry variables, evaluation of partners and management and aspects of the operation such as financing, term, products and possible collaterals. This process is supported by a rating model that allows greater homogeneity in the evaluation of the client and his group. Additionally, for the evaluation of clients, there are specialized areas in some segments that, due to their nature, require expert knowledge, such as real estate, construction, agricultural, financial, and international, among others. The permanent monitoring of the portfolio is carried out in a centralized manner, based on information periodically updated by both the client and the industry. Monitoring of compliance with the special conditions established in the admission stage is carried out, such as controls of financial covenants, coverage of certain collaterals and restrictions imposed at the time of approval. Alerts are also generated through monitoring to ensure the correct classification of the individual portfolio. Additionally, within the Admission areas, joint tasks are carried out that allow monitoring the development of operations from their gestation to their recovery, in order to ensure that the portfolio's risks are well recognized in a timely manner. Upon detection of clients that show signs of impairment or default with any condition, the commercial area to which the client belongs together with the Wholesale Credit Risk Division, establish action plans to regularize said situation. In those cases where they present problems in the recovery of their credits, there is the area of Special Asset Management, belonging to the Wholesale Credit Risk Division, in charge of the collection management, establishing action plans and negotiations based on the particular characteristics of each client. (c) Derivative Transactions We produce own models which are used for credit risk management purposes, known as the pre-settlement exposure (PSE). Generally, the PSE is computed as follows: PSE = Maximum (CMTM + CEF * Notional, 0) CMTM: Current Mark-to-Market of the transaction Notional: Transaction notional amount CEF: Credit Exposure Factor, which reflects the peak exposure within the life of the transaction, under 95% of confidence level. The portfolio approach is taken into account when computing exposures of several transactions closed with one single counterpart. Credit mitigating conditions for derivative transactions have become popular in the local financial markets. There are financial institutions that have accepted early termination clauses, and netting is also possible with corporations when appropriate documentation under a regular Master Agreement is signed. Collateral agreements have been requested by certain banks for inter-banking transactions within other financial institutions, but its effective application under Chilean Law make advisable not to include it in the exposure measurement. Derivatives transactions closed with counterparts residing abroad (mostly global banks) are documented utilizing ISDA and CSA. Netting and cash collateral above a certain threshold level are the typical credit mitigations schemes in place for this kind of transactions. This metric is used for measuring, limiting, controlling and reporting credit exposures by counterparty. (d) Portfolio Concentration: The maximum exposure to credit risk, by client or counterparty, without taking into account guarantees or other credit enhancements as of December 31, 2018 and 2019 does not exceed 10% of the Bank's effective equity. The following tables show credit risk exposure per balance sheet item, including derivatives, detailed by both geographic region and industry sector as of December 31, 2018: Chile United States Brazil Other Total MCh$ MCh$ MCh$ MCh$ MCh$ Financial Assets Cash and Due from Banks 773,368 69,343 ― 37,370 880,081 Financial Assets held-for-trading From the Chilean Government and Central Bank of Chile 1,523,472 ― ― ― 1,523,472 Other instruments issued in Chile 129,607 ― ― ― 129,607 Instruments issued abroad ― 4,446 ― ― 4,446 Mutual fund investments 87,841 ― 87,841 Subtotal 1,740,920 4,446 ― ― 1,745,366 Investments under resale agreements 97,289 ― ― ― 97,289 Derivative Contracts for Trading Purposes Forwards 670,595 23,082 ― 41,767 735,444 Swaps 453,191 98,414 ― 186,525 738,130 Call Options 4,309 ― ― 530 4,839 Put Options 56 ― ― 64 120 Futures ― ― ― ― ― Subtotal 1,128,151 121,496 ― 228,886 1,478,533 Hedge Derivative Contracts Forwards ― ― ― ― ― Swaps 4,547 14,348 ― 16,519 35,414 Call Options ― ― ― ― ― Put Options ― ― ― ― ― Futures ― ― ― ― ― Others ― ― ― ― ― Subtotal 4,547 14,348 ― 16,519 35,414 Loans and advances to Banks (before allowances) Central Bank of Chile 1,100,831 ― ― ― 1,100,831 Domestic banks 100,023 ― ― ― 100,023 Foreign banks ― ― 209,693 84,849 294,542 Subtotal 1,200,854 ― 209,693 84,849 1,495,396 Loans to Customers at amortized cost (before allowances) Commercial loans 15,344,854 ― 354 93,190 15,438,398 Residential mortgage loans 8,052,073 ― ― ― 8,052,073 Consumer loans 4,436,161 ― ― ― 4,436,161 Subtotal 27,833,088 ― 354 93,190 27,926,632 Financial Assets at Fair Value through OCI Debt Instruments: From the Chilean Government and Central Bank 164,222 ― ― ― 164,222 Other instruments issued in Chile 770,674 ― ― ― 770,674 Instruments issued abroad ― 108,544 ― ― 108,544 Subtotal 934,896 108,544 ― ― 1,043,440 Equity Instruments: Other instruments issued in Chile 8,939 ― ― ― 8,939 Instruments issued abroad ― ― ― 812 812 Subtotal 8,939 ― ― 812 9,751 Total 943,835 108,544 812 1,053,191 Financial Services Chilean Central Bank Government Retail (Individuals) Trade Manufacturing Mining Electricity, Gas and Water Agriculture and Livestock Fishing Transportation and Telecom Construction Services Other Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Financial Assets Cash and Due from Banks 758,274 121,807 ― ― ― ― ― ― ― ― ― ― ― ― 880,081 Financial Assets held-for-trading From the Chilean Government and Central Bank of Chile ― 1,434,986 88,486 ― ― ― ― ― ― ― ― ― ― ― 1,523,472 Other instruments issued in Chile 129,607 ― ― ― ― ― ― ― ― ― ― ― ― ― 129,607 Instruments issued abroad 4,446 ― ― ― ― ― ― ― ― ― ― ― ― ― 4,446 Mutual fund investment 87,841 ― ― ― ― ― ― ― ― ― ― ― ― ― 87,841 Subtotal 221,894 1,434,986 88,486 ― ― ― ― ― ― ― ― ― ― ― 1,745,366 Investments under resale agreements 29,031 742 ― ― 37,520 ― 5,017 4,466 3,096 59 15,637 ― 985 736 97,289 Derivative Contracts for Trading Purposes Forwards 374,006 ― ― ― 7,194 13,328 40 10,288 4,211 411 98 455 296 325,117 735,444 Swaps 584,743 ― ― ― 51,916 7,348 22 4,026 10,006 2,249 2,235 680 74,250 655 738,130 Call Options 1,669 ― ― ― 389 16 ― 1,090 1,489 80 ― 59 36 11 4,839 Put Options 64 ― ― ― 51 5 ― ― ― ― ― ― ― ― 120 Futures ― ― ― ― ― ― ― ― ― ― ― ― ― ― ― Subtotal 960,482 ― ― ― 59,550 20,697 62 15,404 15,706 2,740 2,333 1,194 74,582 325,783 1,478,533 Hedge Derivative Contracts Forwards ― ― ― ― ― ― ― ― ― ― ― ― ― ― ― Swaps 35,414 ― ― ― ― ― ― ― ― ― ― ― ― ― 35,414 Call Options ― ― ― ― ― ― ― ― ― ― ― ― ― ― ― Put Options ― ― ― ― ― ― ― ― ― ― ― ― ― ― ― Futures ― ― ― ― ― ― ― ― ― ― ― ― ― ― ― Subtotal 35,414 ― ― ― ― ― ― ― ― ― ― ― ― ― 35,414 Loans and advances to Banks Central Bank of Chile ― 1,100,831 ― ― ― ― ― ― ― ― ― ― ― ― 1,100,831 Domestic banks 100,023 ― ― ― ― ― ― ― ― ― ― ― ― ― 100,023 Foreign banks 294,542 ― ― ― ― ― ― ― ― ― ― ― ― ― 294,542 Subtotal 394,565 1,100,831 ― ― ― ― ― ― ― ― ― ― ― ― 1,495,396 Loans to Customers at amortized cost Commercial loans 2,122,599 ― ― ― 2,324,325 1,579,475 453,549 461,351 1,582,520 156,472 1,498,142 1,752,237 2,109,491 1,398,237 15,438,398 Residential mortgage loans ― ― ― 8,052,073 ― ― ― ― ― ― ― ― ― ― 8,052,073 Consumer loans ― ― ― 4,436,161 ― ― ― ― ― ― ― ― ― ― 4,436,161 Subtotal 2,122,599 ― ― 12,488,234 2,324,325 1,579,475 453,549 461,351 1,582,520 156,472 1,498,142 1,752,237 2,109,491 1,398,237 27,926,632 Financial Assets at Fair Value through OCI Debt Instruments: From the Chilean Government and Central Bank of Chile ― 135,145 29,077 ― ― ― ― ― ― ― ― ― ― ― 164,222 Other instruments issued in Chile 680,656 ― ― ― 22,390 ― ― 8,245 ― ― 4,938 ― ― 54,445 770,674 Instruments issued abroad 108,544 ― ― ― ― ― ― ― ― ― ― ― ― ― 108,544 Subtotal 789,200 135,145 29,077 ― 22,390 ― ― 8,245 ― ― 4,938 ― ― 54,445 1,043,440 Equity Instruments: Instruments issued in Chile 8,939 ― ― ― ― ― ― ― ― ― ― ― ― ― 8,939 Instruments issued abroad 812 ― ― ― ― ― ― ― ― ― ― ― ― ― 812 Subtotal 9,751 ― ― ― ― ― ― ― ― ― ― ― ― ― 9,751 Total 798,951 135,145 29,077 ― 22,390 ― ― 8,245 ― ― 4,938 ― ― 54,445 1,053,191 The following tables show credit risk exposure per balance sheet item, including derivatives, detailed by both geographic region and industry sector as of December 31, 2019: Chile United States Brazil Other Total MCh$ MCh$ MCh$ MCh$ MCh$ Financial Assets Cash and Due from Banks 1,144,109 1,145,703 ― 102,354 2,392,166 Financial Assets held-for-trading From the Chilean Government and Central Bank of Chile 1,123,689 ― ― ― 1,123,689 Other instruments issued in Chile 375,337 ― ― ― 375,337 Instruments issued abroad ― ― ― ― ― Mutual fund investments 373,329 ― ― ― 373,329 Subtotal 1,872,355 ― ― ― 1,872,355 Investments under resale agreements 142,329 ― ― ― 142,329 Derivative Contracts for Trading Purposes Forwards 872,481 53,923 ― 30,228 956,632 Swaps 1,142,174 167,818 ― 451,960 1,761,952 Call Options 4,961 ― ― ― 4,961 Put Options 807 11 ― 258 1,076 Futures ― ― ― ― ― Subtotal 2,020,423 221,752 ― 482,446 2,724,621 Hedge Derivative Contracts Forwards ― ― ― ― ― Swaps 5,864 25,780 ― 29,950 61,594 Call Options ― ― ― ― ― Put Options ― ― ― ― ― Futures ― ― ― ― ― Others ― ― ― ― ― Subtotal 5,864 25,780 ― 29,950 61,594 Loans and advances to Banks (before allowances) Central Bank of Chile 630,053 ― ― ― 630,053 Domestic banks 150,007 ― ― ― 150,007 Foreign banks ― ― 244,969 115,162 360,131 Subtotal 780,060 ― 244,969 115,162 1,140,191 Loans to Customers at amortized cost (before allowances) Commercial loans 16,279,527 ― ― 14,685 16,294,212 Residential mortgage loans 9,206,727 ― ― ― 9,206,727 Consumer loans 4,532,333 ― ― ― 4,532,333 Subtotal 30,018,587 ― ― 14,685 30,033,272 Financial assets available-for-sale Debt Instruments: From the Chilean Government and Central Bank 109,062 ― ― ― 109,062 Other instruments issued in Chile 1,228,931 ― ― ― 1,228,931 Instruments issued abroad ― ― ― 19,853 19,853 Subtotal 1,337,993 ― ― 19,853 1,357,846 Equity Instruments: Instruments issued in Chile 7,446 ― ― ― 7,446 Instruments issued abroad ― ― ― 1,051 1,051 Subtotal 7,446 ― ― 1,051 8,497 Total 1,345,439 ― ― 20,904 1,366,343 Financial Services Chilean Central Bank Government Retail (Individuals) Trade Manufacturing Mining Electricity, Gas and Water Agriculture and Livestock Fishing Transportation and Telecom Construction Services Other Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Financial Assets Cash and Due from Banks 2,213,737 178,429 ― ― ― ― ― ― ― ― ― ― ― ― 2,392,166 Financial Assets held-for-trading From the Chilean Government and Central Bank of Chile ― 1,024,525 99,164 ― ― ― ― ― ― ― ― ― ― ― 1,123,689 Other instruments issued in Chile 375,337 ― ― ― ― ― ― ― ― ― ― ― ― ― 375,337 Instruments issued abroad ― ― ― ― ― ― ― ― ― ― ― ― ― ― ― Mutual fund investment 373,329 ― ― ― ― ― ― ― ― ― ― ― ― ― 373,329 Subtotal 748,666 1,024,525 99,164 ― ― ― ― ― ― ― ― ― ― ― 1,872,355 Investments under resale agreements 66,285 ― 18,460 278 40,642 ― 2,067 1,533 902 35 8,665 21 ― 3,441 142,329 Derivative Contracts for Trading Purposes Forwards 480,269 ― ― 1,532 16,225 79 2,856 22,903 14,103 642 1,930 277 497 415,319 956,632 Swaps 1,693,048 ― ― 4 9,813 7,718 19 14,184 10,232 4,275 12,526 210 ― 9,923 1,761,952 Call Options 1,196 ― ― ― 1,569 280 ― ― 1,433 171 ― 84 190 38 4,961 Put Options 554 ― ― ― 522 ― ― ― ― ― ― ― ― ― 1,076 Futures ― ― ― ― ― ― ― ― ― ― ― ― ― ― ― Subtotal 2,175,067 ― ― 1,536 28,129 8,077 2,875 37,087 25,768 5,088 14,456 571 687 425,280 2,724,621 Hedge Derivative Contracts Forwards ― ― ― ― ― ― ― ― ― ― ― ― ― ― ― Swaps 61,594 ― ― ― ― ― ― ― ― ― ― ― ― ― 61,594 Call Options ― ― ― ― ― ― ― ― ― ― ― ― ― ― ― Put Options ― ― ― ― ― ― ― ― ― ― ― ― ― ― ― Futures ― ― ― ― ― ― ― ― ― ― ― ― ― ― ― Subtotal 61,594 ― ― ― ― ― ― ― ― ― ― ― ― ― 61,594 Loans and advances to Banks Central Bank of Chile ― 630,053 ― ― ― ― ― ― ― ― ― ― ― ― 630,053 Domestic banks 150,007 ― ― ― ― ― ― ― ― ― ― ― ― ― 150,007 Foreign banks 360,131 ― ― ― ― ― ― ― ― ― ― ― ― ― 360,131 Subtotal 510,138 630,053 ― ― ― ― ― ― ― ― ― ― ― ― 1,140,191 Loans to Customers at amortized cost Commercial loans 2,587,559 ― ― ― 2,066,372 1,624,972 604,660 325,143 1,623,465 140,709 1,234,087 2,142,699 2,267,869 1,676,677 16,294,212 Residential mortgage loans ― ― ― 9,206,727 ― ― ― ― ― ― ― ― ― ― 9,206,727 Consumer loans ― ― ― 4,532,333 ― ― ― ― ― ― ― ― ― ― 4,532,333 Subtotal 2,587,559 ― ― 13,739,060 2,066,372 1,624,972 604,660 325,143 1,623,465 140,709 1,234,087 2,142,699 2,267,869 1,676,677 30,033,272 Financial Assets at Fair Value through OCI Debt Instruments: From the Chilean Government and Central Bank of Chile ― 92,824 16,238 ― ― ― ― ― ― ― ― ― ― ― 109,062 Other instruments issued in Chile 994,658 ― ― ― ― ― ― 9,667 ― ― ― 178,444 ― 46,162 1,228,931 Instruments issued abroad 19,853 ― ― ― ― ― ― ― ― ― ― ― ― ― 19,853 Subtotal 1,014,511 92,824 16,238 ― ― ― ― 9,667 ― ― ― 178,444 ― 46,162 1,357,846 Equity Instruments: Instruments issued in Chile 7,446 ― ― ― ― ― ― ― ― ― ― ― ― ― 7,446 Instruments issued abroad 1,051 ― ― ― ― ― ― ― ― ― ― ― ― ― 1,051 Subtotal 8,497 ― ― ― ― ― ― ― ― ― ― ― ― ― 8,497 Total 1,023,008 92,824 16,238 ― ― ― ― 9,667 ― ― ― 178,444 ― 46,162 1,366,343 (e) Collateral and Other Credit Enhancements The amount and type of collateral required depends on the counterparty's credit risk assessment. The Bank has guidelines regarding the acceptability of types of collateral and valuation parameters. The main types of collateral obtained are: For commercial loans: Residential and non-residential real estate, liens and inventory. For retail loans: Mortgages loans on residential property. The Bank also obtains collateral from parent companies for loans granted to their subsidiaries. Management makes sure its collateral is acceptable according to both external standards and internal policies guidelines and parameters. The Bank has approximately 235,878 collateral assets, the majority of which consist of real estate. The following table contains guarantees values as of December 31, 2018 and 2019: Fair value of collateral and credit enhancements held as of December 31, 2018 Maximum exposure to credit risk Mortgages Pledge Securities Warrants Others Net Net Loans to customers: MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Corporate lending 11,705,859 2,589,429 75,105 423,556 2,263 221,919 3,312,272 8,393,587 Small business lending 3,732,539 2,977,286 31,270 28,974 ― 71,140 3,108,670 623,869 Consumer lending 4,436,161 332,030 967 2,244 ― 20,090 355,331 4,080,830 Mortgage lending 8,052,073 7,493,073 58 265 ― ― 7,493,396 558,677 Total 27,926,632 13,391,818 107,400 455,039 2,263 313,149 14,269,669 13,656,963 Fair value of collateral and credit enhancements held as of December 31, 2019 Maximum exposure to credit risk Mortgages Pledge (*) Securities Warrants Others Net collateral Net exposure Loans to customers: MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Corporate lending 12,117,724 2,453,533 82,365 345,246 2,182 207,052 3,090,378 9,027,346 Small business lending 4,176,488 3,133,480 30,466 26,674 ― 74,725 3,265,345 911,143 Consumer lending 4,532,333 341,495 966 2,045 ― 20,646 365,152 4,167,181 Mortgage lending 9,206,727 8,019,519 51 176 ― ― 8,019,746 1,186,981 Total 30,033,272 13,948,027 113,848 374,141 2,182 302,423 14,740,621 15,292,651 (*) Includes agricultural and industrial pledges, and pledges without conveyance. The Bank also uses mitigating tactics for credit risk on derivative transactions. To date, the following mitigating tactics are used: ● Accelerating transactions and net payment using market values at the date of default of one of the parties. ● Option for both parties to terminate early any transactions with a counterparty at a given date, using market values as of the respective date. ● Margins established with time deposits by customers that close FX forwards with subsidiary Banchile Corredores de Bolsa S.A. The value of the guarantees that the Bank maintains related to the loans individually classified as impaired as of December 31, 2018 and 2019 is Ch$85,721 million and Ch$100,133 million, respectively. The value of the guarantees that the Bank maintains related to non-impaired loans a |
New Accounting Pronouncements
New Accounting Pronouncements | 12 Months Ended |
Dec. 31, 2019 | |
New Accounting Pronouncements [abstract] | |
New Accounting Pronouncements | New Accounting Pronouncements: The following is a summary of new standards, interpretations and improvements to the International Financial Reporting Standards issued by the International Accounting Standards Board (IASB) that are not yet effective as of December 31, 2019: Conceptual Framework. On March 29, 2018, the IASB issued a "Reviewed" Conceptual Framework. Changes to the Conceptual Framework may affect the application of IFRS when no rule applies to a particular transaction or event. The Conceptual Framework introduces mainly the following improvements: - It incorporates some new concepts of measurement, presentation and disclosure and derecognition of assets and liabilities in the Financial Statements. - Provides updated definitions of assets, liabilities and includes criteria for the recognition of assets and liabilities in the financial statements. - Clarifies some important concepts such as background on form, prudential criteria and measurement of uncertainty. The Conceptual Framework enters into force for periods beginning on January 1, 2020 IAS 1 – Presentation of Financial Statements and IAS 8 – Accounting Policies, Changes in Accounting Estimates and Errors. Definition of materiality or relative importance. The IASB issued changes to IAS 1, Presentation of Financial Statements, and IAS 8, Accounting Policies, Changes in Accounting Estimates and Errors, to clarify the definition of materiality and align these standards with the Revised Conceptual Framework issued in March 2018, to facilitate companies to make materiality judgments. Under the old definition, omissions or misrepresentations of elements are important if they could, individually or collectively, influence the economic decisions that users make on the basis of financial statements (IAS 1 Presentation of Financial Statements). The new definition states that information is material if the omission, distortion or concealment of the information can reasonably be expected to influence decisions that primary users of financial statements of general purpose make on the basis of those financial statements, which provide financial information about a specific reporting entity. The date of application of these amendments is January 1, 2020 This amendment has no impact on the Consolidated Financial Statements of Banco de Chile and its subsidiaries. IFRS 9 – Financial Instruments, IFRS 7 – Financial Instruments: Disclosures and IAS 39 – Financial Instruments: Recognition and Measurement. Interest rate benchmark reform. In October 2017, the IASB published amendments to IFRS 9 Financial Instruments and IAS 28 Investments In September 2019, the IASB issued amendments to IFRS 9, IFRS 7 and IAS 39, as a result of the IBOR (Interbank Offered Rate) reform, which results in the replacement of existing reference interest rates, by alternative interest rates. The amendments provide temporary application exceptions that allow hedge accounting to continue during the uncertainty period, which is the period prior to the replacement of existing reference interest rates. The date of application of these amendments is from January 1, 2020 This amendment had no impact on the Consolidated Financial Statements of Banco de Chile and its subsidiaries. |
Subsequent Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of non-adjusting events after reporting period [abstract] | |
Subsequent Events | Subsequent Events: a) On January 20, 2020, the subsidiary Banchile Administradora General de Fondos S.A. informed that during the Ordinary Session held that day, the Board of Directors appointed Mr. José Luis Vizcarra Villalobos as director, replacing Mr. Joaquín Contardo Silva, who presented resignation to the director position. b) On January 30, 2020, the Board of Directors of Banco de Chile agreed to convene an Ordinary Shareholders Meeting on March 26, 2020 in order to propose, among other matters, the following distribution of profits for the year ended on December 31, 2019: i. Deduct and withhold from the net income of the year, an amount equivalent to the effect of inflation of the paid capital and reserves according to the variation of the Consumer Price Index that occurred between November 2018 and November 2019, amounting to Ch$92,239,840,420, which will be added to retained earnings from previous periods. ii. From the resulting balance, distribute in the form of a dividend 70% of the remaining liquid profit, corresponding to a dividend of Ch$3.47008338564 to each of the 101,017,081,114 shares of the Bank, retaining the remaining 30%. Consequently, the distribution as a dividend that will be proposed will amount to 59.1% of the profits for the year ended December 31, 2019. c) On February 21, 2020, in accordance with the disposed in the articles 19 and the following of Law No. 19,913, the Financial Analysis Unit imposed a written admonishment and a fine amounting to UF 800 to Banco de Chile, for not having promptly reported suspicious transactions in accordance with the disposed under numeral 1 of Chapter I of the UAF Circular No. 49 of 2012. d) On March 12, 2020, in the Ordinary session No. 2,918, the Board of Directors of Banco de Chile agreed to establish a provision for minimum dividends of the net distributable profit that results from reducing or adding to the net income of the corresponding period, the value effect of the monetary unit of paid capital and reserves, as a result of any change in the Consumer Price Index (CPI) between the month prior to the current month and the month of November of the previous year. It was also agreed to maintain the monthly provision at 60% of the income balance thus calculated. e) On March 26, 2020, at the Bank's Ordinary Shareholders' Meeting, our shareholders approved the distribution of the dividend No. 208 of $3. 4 7008338564 per share, to be charged to the income obtained during the fiscal year 2019. Additionally, the shareholders proceeded to the complete renewal of the Board of Directors, due to the end of the legal and statutory three-year term with respect to the Board of Directors that has ceased in its functions. After the corresponding voting at the aforesaid meeting, the following persons were appointed as the Bank's Directors for a new three-year term: Directors: Hernán Büchi Buc Andrés Ergas Heymann Alfredo Cutiel Ergas Segal (Independent) Jaime Estévez Valencia (Independent) Julio Santiago Figueroa Pablo Granito Lavín Álvaro Jaramillo Escallon Samuel Libnic Andrónico Luksic Craig Jean Paul Luksic Fontbona Francisco Pérez Mackenna First Alternate Director: Paul Fürst Gwinner (Independent) Second Alternate Director: Sandra Marta Guazzotti Moreover, on March 26, 2020, in its Ordinary Session No. BCH 2,919, the Board of Directors of the Bank agreed to the following officer nominations and appointments: Chairman: Pablo Granifo Lavín Vice Chairman: Andrónico Luksic Craig Vice Chairman: Julio Santiago Figueroa f) On April 20, 2020, the subsidiary Banchile Administradora General de Fondos S.A. reported that in Ordinary Session held that day, the Board of Directors was given notice of and accepted the resignation presented by Mr. Francisco Javier Brancoli Bravo of his position as Director of the Company. On the occasion of the aforementioned resignation, the Board of Directors agreed to appoint Mr. Paul Javier Fürst Gwinner as the new Director. g) In early March 2020, the World Health Organization recognized the novel strain of coronavirus, known as COVID-19, as a pandemic that is severely affecting almost all countries worldwide. The global spread of this disease has forced authorities to take drastic sanitary and financial measures to contain and mitigate its effects on global health and economic activity. Locally, the Chilean Government has taken various health-related measures to avoid mass contagion. Further, the Chilean Government and the Central Bank have implemented a set of tax and financial measures aimed to mitigate COVID-19's impact on the economy, and to ensure the proper functioning of the financial system, including, among others, the postponement by a year of certain measures related to the implementation of Basel III in Chile. Within this context, our Bank has carried out several measures to support and provide liquidity to our clients, along with executing contingency plans that (i) ensure the operational continuity of our services, (ii) safeguard the health of clients and employees, including the temporary closure of some branches, among other measures, and (iii) strengthen our remote channels and the implementation of telecommuting for a large group of our employees. While the actual impact of the COVID-19 pandemic on our operating results remains uncertain and difficult to predict, it is possible to anticipate that factors such as: (i) economic contraction, (ii) low interest rates for a long period of time, (iii) deflationary pressures owed to lowered domestic demand, (iv) increased unemployment, (v) total or partial lockdowns affecting commercial activities, and (vi) mobility restrictions including curfews or quarantines; will have an adverse effect on our operating revenues, loan loss provisions and operating expenses. Based on these factors, we expect COVID-19 to negatively impact our results of operations during 2020 in an amount that could be significant, although it is not possible to predict yet. In Management's opinion, there are no other significant subsequent events that affect or could affect the Consolidated Financial Statements of the Bank and its subsidiaries between December 31, 2019 and the date of issuance of these Consolidated Financial Statements. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2019 | |
Summary of Significant Accounting Policies [abstract] | |
Basis of preparation | (a) Basis of preparation: The Bank's consolidated financial statements for the years 2017, 2018 and 2019 have been prepared in accordance with International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board ("IASB"). The Bank presents its statement of financial position broadly in order of liquidity. An analysis regarding recovery or settlement is presented in note No. 41. The consolidated financial statements comprise the consolidated statement of comprehensive income and the consolidated statements of financial position, changes in equity, cash flows and the related notes. The consolidated financial statements have been prepared under the historical cost convention, except for financial assets at fair value through other comprehensive income, financial assets held for trading measured at fair value through profit or loss and derivative contracts, which have been measured at fair value. The consolidated statement of cash flows shows the changes in cash and cash equivalents arising from operating activities, investing activities and financing activities during the period. |
Basis of consolidation | (b) Basis of consolidation: The financial statements of Banco de Chile as of and for the years ended December 31, 2018 and 2019 have been consolidated with those of its subsidiaries. The financial statements of the bank's subsidiaries are prepared for the same reporting year as for Banco de Chile, using consistent accounting policies. (i) Subsidiaries Consolidated financial statements as of December 31, 2018 and 2019 incorporate financial statements of the Bank and its subsidiaries. According IFRS 10 –"Consolidated Financial Statements", control requires exposure or rights to variable returns and the ability to affect those returns through power over an investee. Specifically the Bank has power over the investee when it has existing rights that give it the ability to direct the relevant activities of the investee. When the Bank has less than a majority of the voting rights of an investee, but these voting rights are enough to have the ability to direct the relevant activities unilaterally, then the Bank has control. The Bank considers all factors and relevant circumstances to evaluate if its voting rights are enough to obtain control, which includes: ● The amount of voting rights that the Bank has, related to the amount of voting rights of the other stakeholders. ● Potential voting rights maintained by the Bank, other holders of voting rights or other parties. ● Rights that emanated from other contractual arrangements. ● Any additional circumstance that indicate that the Bank has or does not have the ability to manage the relevant activities when decisions need to be made, including voting behavior patterns in previous shareholders meetings. The financial statements of the subsidiaries are included in the consolidated financial statements from the date control is obtained until the loss of such control. The financial statements have been prepared using uniform accounting policies for similar transactions and other events under equivalent circumstances. The following table details the entities in which the Bank, directly or indirectly – owns a controlling interest and that are therefore consolidated in these financial statements: Functional Interest Owned RUT Subsidiaries Country Currency Direct Indirect Total 2018 2019 2018 2019 2018 2019 % % % % % % 96,767,630-6 Banchile Administradora General de Fondos S.A. Chile Ch$ 99.98 99.98 0.02 0.02 100.00 100.00 96,543,250-7 Banchile Asesoría Financiera S.A. Chile Ch$ 99.96 99.96 — — 99.96 99.96 77,191,070-K Banchile Corredores de Seguros Ltda. Chile Ch$ 99.83 99.83 0.17 0.17 100.00 100.00 96,571,220-8 Banchile Corredores de Bolsa S.A. Chile Ch$ 99.70 99.70 0.30 0.30 100.00 100.00 96,932,010-K Banchile Securitizadora S.A. Chile Ch$ 99.01 99.01 0.99 0.99 100.00 100.00 96,645,790-2 Socofin S.A. Chile Ch$ 99.00 99.00 1.00 1.00 100.00 100.00 Intercompany transactions and balances between the Bank and its subsidiaries and among its subsidiaries have been eliminated for consolidation purposes. Any non-controlling interest is recognized as a separate item within the Bank's consolidated equity. (ii) Investment in Associates and Joint Ventures Associates An associate is an entity over which the Bank has significant influence on its operating and financial management policy decisions, without having control over the associate. Significant influence is generally presumed when the Bank holds between 20% and 50% of the voting rights. Other factors considered when determining whether the Bank has significant influence over another entity are the representation on the Board of Directors and the existence of material intercompany transactions. The existence of these factors could determine the existence of significant influence over an entity despite the Bank holding a participation of less than 20% of the entity's voting rights. According to the equity method, the Bank's investments in an associate are initially recorded at cost, and subsequently increased (or decreased) to reflect both the Bank's pro rata share of the post-acquisition net income (or loss) of the associate and other movements directly recognized in the associate's equity. Goodwill arising from the acquisition of an associate is included in the carrying value of the investment (net of any accumulated impairment loss). Since goodwill is not reported separately, an associate is not tested individually for impairment. Rather, the entire investment is tested for impairment as described below. After the application of the equity method, the Bank determines whether it is necessary to recognize impairment loss on the Bank's investment in an associate. The Bank determines at each reporting date whether there is objective evidence, considering information from internal and external sources, that the investment in the associate is impaired. If this is the case, the Bank calculates the amount of impairment as the difference between the recoverable amount of the associate and its carrying value and recognizes the amount in its income statement under the line "Income attributable to associates". Joint Ventures Joint Ventures are joint arrangements whereby the parties to the agreement that have joint control over the arrangement have rights to the net assets covered by the arrangement. Joint control exists only when decisions about the relevant activities covered by the arrangement require the unanimous consent of the parties sharing control in the agreement. According to IFRS 11, an entity shall determine the type of joint arrangement: "Joint Operation" or "Joint Venture". For investments defined as a "Joint Operation", the assets, liabilities, income and expenses are recognized by the participation in the joint operation. Investments defined as a "Joint Venture" will be registered according to the equity method. Investments in other companies that, for their characteristics, are defined as "Joint Ventures" include the following: ● Artikos Chile S.A. ● Servipag Ltda. (iii) Structured entities Special purpose entities ("SPEs") are generally created to comply with a specific and well-defined objective, such as securitizing specific assets or carrying out a specific loan transaction. An SPE is consolidated if, based on an assessment of its relationship with the Bank and the risks and benefits over the SPE, the Bank concludes that it has control of the SPE. As of December 31, 2018 and 2019, the Bank does not control and therefore does not consolidate any SPEs. (iv) Asset management services investments and mutual funds The Bank, through its subsidiary Banchile Administradora General de Fondos S.A., manages assets through investment and mutual funds and other investment products on behalf of investors. According to IFRS 10, for consolidation purposes, it is necessary to evaluate the role of the Bank and its subsidiaries in the funds that it manages, determining its role of Agent or Principal. When assessing whether an investor controls an investee, an investor with decision-making rights must determine whether it acts as a Principal or as an Agent for other parties. A number of factors are considered in making this assessment, including the following: ● Scope to make decision over the investee. ● Rights held by other parties. ● Remuneration according to compensation arrangements. ● Exposition of the decision maker to the variability of returns from other interests that keeps the investee. The Bank and its subsidiaries manage investments and mutual funds on behalf and for the benefit of investors, acting only as an Agent in this relationship. Under this category, and as per the aforementioned rule, these funds are not controlled and therefore not consolidated by the Bank or its subsidiaries. |
Non-controlling interest | (c) Non-controlling interest: Non-controlling interest represents the share of losses, income and net assets that the Bank does not control, either directly or indirectly. It is presented as a separate item in the Consolidated Statement of Comprehensive Income and the Consolidated Statement of Financial Position. |
Going Concern | (d) Going Concern: The Bank's management has made an assessment of its ability to continue as a going concern and is satisfied that it has the resources to continue in business for the foreseeable future. Furthermore, management is not aware of any material uncertainties that may cast significant doubt upon the Bank's ability to continue as a going concern. Therefore, the financial statements continue to be prepared on the going concern basis. |
Presentation and functional currency | (e) Presentation and functional currency: The items included in the financial statements of each of the entities of Banco de Chile and its subsidiaries are valued using the currency of the primary economic environment in which it operates (functional currency). The functional currency of Banco de Chile is the Chilean peso, which is also the currency used to present the entity's consolidated financial statements. |
Transactions in foreign currency | (f) Transactions in foreign currency: Transactions in currencies other than the functional currency are considered to be in foreign currency and are initially recorded at the exchange rate of the functional currency on the transaction date. Monetary assets and liabilities denominated in foreign currencies are converted using the exchange rate of the functional currency as of the date of the Statement of Financial Position, for profit or loss the exchange rate corresponding to each month end is applied. All differences are recorded as a charge or credit to income. Assets and liabilities in foreign currencies are shown at their equivalent value in Chilean pesos, calculated using the following exchange rates as of December 31, 2018 and 2019: Ch$693.60 and Ch$751.88 to US$1, Ch$6.29 and Ch$6.91 per JPY1, Ch$793.96 and Ch$843.31 per EUR1. The gain of MCh$30,886 (MCh$2,701 in 2018) for net foreign exchange income shown in the Consolidated Statement of Income includes recognition of the effects of exchange rates variations on assets and liabilities in foreign currency or indexed to exchange rates, and the result of foreign exchange transactions conducted by the Bank and its subsidiaries. |
Use of estimates and judgement | (g) Use of estimates and judgment: Preparing Consolidated Financial Statements requires management to make judgments, estimations and assumptions that affect the application of accounting policies and the valuation of assets, liabilities, income and expenses presented. Actual results could differ from these estimated amounts. Relevant estimates and assumptions are reviewed regularly by senior management in order to quantify certain assets, liabilities, income, expenses and uncertainties. Revisions to accounting estimates are recognized in the year in which the estimate is revised and for any future period that is affected. Some accounting matters particularly involve uncertainties and therefore require a considerable degree of estimation and critical judgment when applying accounting policies. Details on the use of estimates and judgment and their effect on the amounts recognized in the financial statements are included in the following notes: - Impairment of loans (Notes No. 10, No. 11 and No. 33) - Impairment of instruments at fair value through OCI (Note No. 12) - Impairment of contingent loan risks (Note No. 24) - Useful lives of intangible assets, property and equipment and leased assets and lease liabilities and investment properties (Notes No. 14, No. 15 and No. 16) - Goodwill valuation (Note No. 14) - Deferred taxes and income taxes (Note No. 17) - Provisions (Note No. 24) - Employee benefits (Note No. 25) - Commitments and contingencies (Note No. 27) - Fair value of financial assets and liabilities (Note No. 40) |
Financial asset and liability valuation criteria | (h) Financial asset and liability valuation criteria: Measurement is the process of determining the monetary amounts at which the elements of the financial statements are to be recognized and carried in the Consolidated Statement of Financial Position and the Consolidated Statement of Other Comprehensive Income. This involves selecting the particular basis or method of measurement. These bases or methods include the following: (i) Initial recognition The Bank and its subsidiaries recognize loans to customers, trading and investment securities, deposits, debt issued and subordinated liabilities on the date they originated. Purchases and sales of financial assets performed on a regular basis are recognized as of the trade date on which the Bank committed to purchase or sell the asset. All other assets and liabilities (including assets and liabilities at fair value through profit or loss) are initially recognized as of the trade date on which the Bank becomes a party to the contractual provisions of the instrument. Financial assets or liabilities are initially recognized at fair value plus transaction costs directly attributable to their purchase or issuance, except in the case of financial assets and financial liabilities recorded at fair value through profit or loss (FVPL). (ii) Derecognition of financial assets and liabilities The Bank and its subsidiaries derecognize a financial asset (or where applicable, part of a financial asset) from its Statement of Financial Position when the contractual rights to the cash flows of the financial asset have expired or when the contractual rights to receive the cash flows of the financial asset are transferred during a transaction in which all ownership risks and rewards of the financial asset are transferred. Any portion of transferred financial assets that is created or retained by the Bank is recognized as a separate asset or liability. When the Bank transfers a financial asset, it assesses to what extent it has retained the risks and rewards of ownership. In this case: (a) If substantially all risks and rewards of ownership of the financial asset have been transferred, it is derecognized and any rights or obligations created or retained upon transfer are recognized separately as assets or liabilities. (b) If substantially all risks and rewards of ownership of the financial asset have been retained, the Bank continues to recognize it. (c) If substantially all risks and rewards of ownership of the financial asset are neither transferred nor retained, the Bank will determine if it has retained control of the financial asset. In this case: (c.i) If it has not retained control, the financial asset will be derecognized and any rights or obligations created or retained upon transfer will be recognized separately as assets or liabilities. (c.ii) If the entity has retained control, it will continue to recognize the financial asset to the extent of its continuing involvement in the financial asset. A financial liability is derecognized when the obligation under the liability is discharged or canceled or expires. If an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of the existing liability are substantially modified, such an exchange or modification is treated as a derecognition of the original liability and the recognition of a new liability, and the difference in the respective carrying amounts is recognized in the income statement. (iii) Offsetting Financial assets and liabilities are offset and the net amount is reported in the Statement of Financial Position if, and only if, the Bank has the legally enforceable right to set off the recognized amounts and there is an intention to settle on a net basis or to realize an asset and settle the liability simultaneously. Income and expenses are shown net only if accounting standards allow such treatment, or in the case of gains and losses arising from a group of similar transactions, such as the Bank’s trading activities. (iv) Measurement categories of financial assets and liabilities The Bank classifies all of its financial assets based on the business model for managing these assets and each asset’s contractual terms, measured at either amortized cost, fair value through other comprehensive income (FVOCI) or fair value through profit or loss (FVPL). The Bank classifies and measures its trading portfolio at FVPL as explained in Note No. 2 (i) (ii). The Bank may designate financial instruments at FVPL, if such designation eliminates or significantly reduces measurement or recognition inconsistencies. Financial liabilities, other than loan commitments and financial guarantees, are measured at amortized cost or at FVPL when they are held for trading and derivative instruments or the fair value designation is applied. Fair value measurements The fair value of a financial instrument is the price that would be received to sell an asset or that would be paid to transfer a liability in an orderly transaction between participants in a main market (or more advantageous) at the measurement date under current market conditions, regardless of whether that price is directly observable or estimated using another valuation technique. The most objective and common fair value is the price that you would pay on an active, transparent and deep market (“quoted price” or “market price”). When available, the Bank estimates the fair value of an instrument using quoted prices in an active market for that instrument. A market is considered active if quoted prices are readily and regularly available and represent actual and regularly occurring market transactions on an arm’s length basis. If a market for a financial instrument is not active, the Bank establishes fair value using a valuation technique. These valuation techniques include the use of recent market transactions between interested and duly informed parties that act in mutual independence conditions, if available, as well as references to the fair value of other instruments that are substantially the same, discounted cash flows and options pricing models. The chosen valuation technique uses the maximum observable market data, relies as little as possible on estimates performed by the Bank, incorporates factors that market participants would consider in setting a price and is consistent with accepted economic methodologies for pricing financial instruments. Inputs into the valuation technique reasonably represent market expectations and include risk and return factors that are inherent in the financial instrument. Periodically, the Bank calibrates the valuation techniques and tests them for validity using prices from observable current market transactions in the same instrument or based on any available observable market data. The best evidence of the fair value of a financial instrument at initial recognition is the transaction price (i.e., the fair value of the consideration given or received) unless the fair value of that instrument is evidenced by a comparison with other observable current market transactions in the same instrument (i.e., without modification or repackaging) or based on a valuation technique whose variables include only data from observable markets. When the transaction price provides the best evidence of fair value at initial recognition, the financial instrument is initially measured at the transaction price and any difference between this price and the value initially obtained from a valuation model is subsequently recognized in incomes. Fair value estimates obtained from models are adjusted for any other factors, such as model uncertainties, to the extent that the Bank believes that a third-party market participant would take them into account in pricing a transaction. The Bank’s fair value disclosures are included in Note No. 40. |
Financial assets and liabilities per financial statement line items | Average PD
● Transitions
from stage 3 to stage 2: Probation period is aligned with local statutory accounting, therefore it should accomplish the following
criteria:
- No
obligation of the debtor shows a delay in its payment of more than 30 calendar days.
- Have
not been granted new refinancing to pay the obligations.
- At
least one of the payments made includes capital amortization.
- If
the debtor has some credit with partial payments in periods of less than six months,
at least two payments have been made.
- If
the debtor must pay monthly instalments for one or more credits, at least four consecutive
instalments have been paid.
- All
debtor obligations across the Chilean financial system are current, except for insignificant
amounts. (vii.6) The ECL calculation The Bank calculates the ECL
based on probability-weighted scenarios to measure the expected credit losses discounted at its effective interest rate (EIR).
Losses are defined as the difference between the cash flows expected to be received by the Bank versus the contractual cash flows. For the calculation of the ECL,
the following key parameters should be considered:
● Probability of Default (PD) The PD parameter is an estimate
of the probability with which a client will fall into the non-performing portfolio within a certain time horizon. Point in time
estimates are used. Depending on the stage on which the exposure is classified, the time horizon may vary from one year (for stage
1) to lifetime (for stage 2). Naturally, stage 3 exposures carry a PD = 1.
● Exposure at Default (EAD) and Credit Conversion Factor (CCF) The exposure at default (EAD)
parameter represents an estimate of the outstanding loan at the time of a customer's default. This exposure can be either
an asset or a contingent exposure. The latter includes unused limits on revolving facilities such as credit cards, lines of credit,
Letters of Credit, etc.; in such cases unused limits are weighted by their CCF, which is an estimate of further utilization before
default time.
● Loss given default (LGD) The Loss Given the Default
(LGD) parameter is defined as the expected value of the losses that an operation would have in case of default. It is expressed
as a percentage of the EAD. Inflows (payments) and outflows are considered in calculating LGD. (viii) Loans write-off Criteria
under which loans are written-off when collection efforts have been exhausted, but not later than the following maximum periods:
Type of Loan Term
Consumer loans – secured and unsecured 6 months
Other transactions – unsecured 24 months
Commercial loans – secured 36 months
Residential mortgage loans 48 months
Consumer leases 6 months
Other non-real estate lease transactions 12 months
Real estate leases (commercial or residential) 36 months The
term represents the time elapsed by a loan from the date on which the unpaid collection or portion is in default. Cash
recoveries on written-off loans are recorded directly through the income statement.
(ix) Renegotiated loans: The Bank attempts to restructure
loans rather than to take possession of collateral when economically convenient. This may involve extending the payment arrangements
and the agreement of new loan conditions. After having renegotiated the terms, any impairment is measured using the original effective
interest rate as calculated before the modification of terms and the loan is no longer considered past due. Renegotiated loans
are continuously reviewed by management to ensure that all criteria are met and that future payments are likely to occur. The loans
continue to be subject to an individual or collective impairment assessment, calculated using the loan's original effective
interest rate.
(x) Collateral valuation: The Bank seeks to use collateral,
where possible, to mitigate its risks on financial assets. The collateral comes in various forms such as mortgages, pledges, securities,
other non-financial assets and credit enhancements. The fair value of collateral is generally assessed, at a minimum, at inception
through a certified appraiser, considering factors such as location, collateral type, and observable market value, among others.
Additionally, the settlement costs, the time required to sell off the assets and the potential adverse market conditions are considered
as well. However, some types of collateral, such as securities, are valued daily. To the extent possible, the Bank uses active
market data for valuing financial assets held as collateral. (See Note No. 42 for further analysis of collateral). For impairment of loans estimates,
Collateral is not accounted as an EAD mitigation factor, but as an LGD driver instead." id="sjs-B12">(i) Financial assets and liabilities per financial statement line items: (i) Due from banks, Loans to customers, Financial investments at amortized cost Before January 1, 2018, due from banks and loans to customers include non–derivative financial assets with fixed or determinable payments, such as domestic banks and foreign banks including the Chilean Central Bank. After initial measurement, amounts of due from banks and loans to customers are subsequently measured at amortized cost using the effective interest rate (EIR), less allowances for impairment. Amortized cost was calculated by taking into account any discount or premium on acquisition and fees and costs that are an integral part of the EIR. The amortization was included in interest revenue in the income statement. The losses arising from impairment were recognized in the income statement in provisions for loan losses. From January 1, 2018, the Bank continues measuring due from banks, loans to customers and other financial investments at amortized cost as long as the following conditions are met: - The financial asset is held within a business model whose objective is to hold financial assets in order to collect contractual cash flows from them. - The contractual terms of the financial asset give rise on specified dates on which cash flows are to be received and such cash flows are solely payments of principal and interest (SPPI) on the principal amount outstanding. (ii) Financial assets held-for-trading Financial assets held-for-trading are securities acquired in order to generate profits from short-term price fluctuations or as a result of brokerage activities, or which are part of a portfolio on which a short-term profit-generating pattern exists. This item includes mainly Central Bank bonds and deposits from domestic banks. Financial assets held-for-trading are stated at their fair value. Accrued interest, gains or losses from their fair market value adjustments, as well as gains or losses from trading activities, are included in "Net financial operating income" in the Consolidated Statement of Comprehensive Income. Dividends, interest and indexations are reported as "Net financial operating income" in the Consolidated Statement of Comprehensive Income. All purchases and sales of financial assets held-for-trading that must be executed within the period established by market regulations or conventions are recorded using the trade date, which is the date on which the purchase or sale of the asset is committed. Any other purchase or sale is treated as a derivative (forward) until settlement occurs. (iii) Financial assets at FVOCI (iii.1) Debt instruments at FVOCI The Bank applies the new category under IFRS 9 of debt instruments measured through FVOCI when both of the following conditions are met: - The instrument is held within a business model whose, objective is to collect contractual cash flows and sell financial assets. - The contractual terms of the financial asset meet the SPPI test (described above). FVOCI debt instruments are measured at fair value with gains and losses arising due to changes in fair value are recognized in Other Comprehensive Income (OCI). Interest income and foreign exchange gains and losses are recognized in profit or loss. The Expected Credit Losses (ECL), which are measured and recorded pursuant to the IFRS 9 adoption, recorded for debt instruments measured at FVOCI does not reduce the carrying amounts of these financial assets, as these remain at fair value in the statement of financial position, but instead, an amount equal to the allowance that would result from the impairment is recognized in OCI, with a corresponding charge to profit or loss. The accumulated loss recognized in OCI is recycled to profit or loss upon derecognition of the asset. Where the Bank holds more than one investment in the same security, they are deemed to be disposed of on a first–in first–out basis. On derecognition, cumulative gains or losses previously recognized in OCI are reclassified from OCI to profit or loss. (iii.2) Equity instruments at FVOCI Upon initial recognition, the Bank occasionally elects to classify irrevocably some of its equity investments as equity instruments at FVOCI when they meet the definition of Equity under IAS 32 "Financial Instruments: Presentation" and are not held for trading. Such classification is determined on an instrument-by instrument basis. Gains and losses on these equity instruments are never recycled to profit or loss. Dividends are recognized in profit or loss as other operating income. Equity instruments at FVOCI are not subject to an impairment assessment. (iv) Lease contracts Accounts receivable relating to leasing contracts, included under the caption "Loans to customers", correspond to periodic rent installments of contracts, which meet the definition to be classified as financial leases and are presented at their nominal value net of unearned interest as of each year-end. (v) Factoring transactions They are valued for the amounts disbursed by the Bank in exchange for invoices or other commercial instruments representative of credit, with or without responsibility of the grantor, received in discount. Price differences between the amounts disbursed and the nominal value of the credits are recorded in the result as interest income, through the effective interest method, during the financing period. In those cases where the transfer of these instruments was made without responsibility of the grantor, it is the Bank who assumes the insolvency risks of those required to pay. (vi) Financial guarantees: In its ordinary course of business, the Bank gives financial guarantees consisting of letters of credit, guarantees and acceptances. Financial guarantees are initially recognized in the financial statements at fair value being the premium received. Subsequent to initial recognition, the Bank's liability is measured at the higher of the amount originally recognized less, when appropriate, cumulative amortization recognized in the income statement and the best estimate of expenditure required settling the financial obligation arising as the result of the guarantee. The premium received is recognized in the income statement in "Income from Fees and Commissions" on a straight line basis over the guarantee period. (vii) Impairment of loans: (vii.1) Overview of the principles of Expected Credit Loss (ECL) With the publication in July 2014 of International Financial Reporting Standard 9 – Financial Instruments (IFRS 9), promulgated by the International Accounting Standards Board (IASB), that came into effect as of January 1, 2018, the calculation of provisions will include not only the impairment incurred, but also the future estimates of default and losses. In this context, and specifically within the scope of the impairment methodology required by IFRS 9 and considering establishing a new provisions calculation framework, the following key elements are identified, among others: ● Estimate of expected loss based on a scenario analysis. ● Calculation based on three stages, each as described below. ● Forward looking analysis of macroeconomic factors and their impact in risk parameters, such as GDP growth, unemployment rates and Central Banks interest rates. (vii.2) Expected Credit Loss (ECL) The expected credit loss reflects the weighted average, across multiple scenarios; for that purpose three scenarios are estimated, for some given probabilities optimistic, central and pessimistic scenarios. Pricing and loan loss provisions should be aligned to those estimates to ensure profitability management of the portfolio. IFRS9 requires that a provision be recognized on the date a loan is originated based on its expected credit loss. IFRS9 proposes to calculate the expected credit loss based on the classification of operations in stages: Stage 1: No significant increase in risk Financial assets whose credit quality is not significantly deteriorated with respect to their credit risk evaluation at the time of their origination. Twelve months expected losses are recognized. This stage also includes those credits which have been reclassified from stage 2. Stage 2: With a significant increase in risk Financial assets that are not in default, however, present a significant increase in risk with respect to the levels anticipated at the time of origination. Stage 2 operations are provisioned considering the financial instrument lifetime; for the discount of the expected losses, the effective rate at the time of origination is used, calculated on the gross amount in the Bank's books. This stage also includes those credits which have been reclassified from stage 3. Stage 3: Objective impairment evidence For financial assets that present evidence of impairment at the closing date of financial statements, the expected credit losses will consider a lifetime approach. The cash flows discount rate used for this stage corresponds to that of the effective interest rate (EIR) applied at the origination of the credit. POCI: Purchased or Originated Credit Impaired Purchased or originated credit impaired (POCI) assets are financial assets that are credit impaired on initial recognition. POCI assets are recorded at fair value at original recognition and interest income is subsequently recognized based on a credit-adjusted EIR. ECLs are only recognized or released to the extent that there is a subsequent change in their expected credit losses. The classification of the assets is of special relevance due to the different time horizons considered in the calculation of the provision for customers classified in stage 1 and those classified in stage 2. Therefore, the concept of significant risk increase (SRI) is relevant since the amount of provision depends on the interpretation of this concept. Individual classified loans An individual analysis of debtors is applied to individuals and companies that are of such significance with respect to size, complexity or level of exposure to the Bank that they must be analyzed in detail. The Bank classifies the debtors and their operations related to loans into one of three categories of loan portfolio: Normal, Substandard and Non-complying Loans. This internal rating considers the quantitative variables used to determine the significant risk increase (SRI) in order to establish the appropriate provisions. i. Normal Loans: Normal loans correspond to borrowers who are up to date on their payment obligations and no sign of impairment in their credit quality are shown. This situation is reflected in the internal rating that varies from A1 to A6. All exposures rated as A1 to A4 are classified as stage 1 in IFRS9; exposures rated A5 or A6 are also classified as stage 1 whenever they are not issued with a higher rating; in that case, they are classified as stage 2. ii. Substandard Loans: Substandard loans include all borrowers with a significant increase in risk and insufficient payment capacity or significant deterioration of payment capacity that it may be reasonably expected that they will not comply with all principal and interest payments obligations set forth in the credit agreement. This category also includes all loans that have been non-performing for more than 30 days. This situation is reflected in the internal rating that varies from B1 to B4. All exposures rated at these levels are classified as stage 2. iii. Non-complying Loans: Non-complying loans correspond to borrowers whose payment capacity is seriously at risk and who have a high likelihood of filing for bankruptcy or are renegotiating credit terms to avoid bankruptcy. This category comprises all loans outstanding from debtors that have at least one installment payment of interest or principal overdue for 90 days or more. This situation is reflected in the internal rating that varies from C1 to C6. All obligors rated at these levels are classified as stage 3. Group classified loans The group analysis is used to analyze a large number of loans whose individual amounts are homogenous and not significant. For this analysis, the Bank uses models based on attributes of the debtors and their loans, and on the behavior of a group of loans. The categories used to classify the debtors correspond to "Normal loans" and "Non-complying loans". Loans to customers include originated and purchased non-derivative financial assets with fixed or determinable payments that are not quoted on an active market and which the Bank does not intend to sell immediately or in the short-term. (vii.3) Significant risk increase (quantitative criteria): Significant increase in risk is determined on a quantitative manner, based on changes in Lifetime Probability of Default (LPD). A loan is impaired whenever LPD at calculation date is significantly greater than LPD estimated at the loan origination date. In order to estimate current LPD, macroeconomic factors and their projections are taken into account. (vii.4) Default events In addition to the quantitative criteria described in the previous section, other aspects are considered as indicators of SRI, for which the following entry conditions to the different stages are considered: A default event is due whenever payments are past due for more than 90 days or a renegotiated loan is originated after the preceding loan has been past due for more than 60 days. Default events are identified on a borrower basis, therefore a default event in any exposure triggers a default across any other exposure but not on residential mortgages. Instead, residential mortgages do trigger a default event on every other exposure. In these cases loans are classified as stage 3. (vii.5) Probation period Probation periods have been set in order to regulate transitions from stage 3 to stage 2, and from stage 2 to stage 1 as well. Transitions from stage 3 to stage 1 are not allowed. Transitions are determined on a monthly basis. ● Transitions from stage 2 to stage 1: In order to be upgraded, exposures in stage 2 should not have had a "significant increase in risk" for the last 4 months previous to the reporting date. "Significant increase in risk" is defined in a different manner for Retail exposures (including SMEs) and Wholesale exposures. Wholesale exposures: an exposure will be considered to have a significant increase in risk if any of the following are true: - The client is rated in one of the two last grades of stage 1, having been downgraded during the last 12 months. - The client is currently rated in the last grade of stage 1 (even in the case of not having been downgraded). - Any of the client's obligations are past due 60 days or more. Retail exposures: an exposure will be considered to have a significant increase in risk if any of the following are true: - The client has rescheduled a loan while it was past due 60 days or more. - The exposure is past due 30 days or more. - The exposure shows an increase in its default risk, quantitatively defined as follows: Lifetime PD – PD at inception > Average PD ● Transitions from stage 3 to stage 2: Probation period is aligned with local statutory accounting, therefore it should accomplish the following criteria: - No obligation of the debtor shows a delay in its payment of more than 30 calendar days. - Have not been granted new refinancing to pay the obligations. - At least one of the payments made includes capital amortization. - If the debtor has some credit with partial payments in periods of less than six months, at least two payments have been made. - If the debtor must pay monthly instalments for one or more credits, at least four consecutive instalments have been paid. - All debtor obligations across the Chilean financial system are current, except for insignificant amounts. (vii.6) The ECL calculation The Bank calculates the ECL based on probability-weighted scenarios to measure the expected credit losses discounted at its effective interest rate (EIR). Losses are defined as the difference between the cash flows expected to be received by the Bank versus the contractual cash flows. For the calculation of the ECL, the following key parameters should be considered: ● Probability of Default (PD) The PD parameter is an estimate of the probability with which a client will fall into the non-performing portfolio within a certain time horizon. Point in time estimates are used. Depending on the stage on which the exposure is classified, the time horizon may vary from one year (for stage 1) to lifetime (for stage 2). Naturally, stage 3 exposures carry a PD = 1. ● Exposure at Default (EAD) and Credit Conversion Factor (CCF) The exposure at default (EAD) parameter represents an estimate of the outstanding loan at the time of a customer's default. This exposure can be either an asset or a contingent exposure. The latter includes unused limits on revolving facilities such as credit cards, lines of credit, Letters of Credit, etc.; in such cases unused limits are weighted by their CCF, which is an estimate of further utilization before default time. ● Loss given default (LGD) The Loss Given the Default (LGD) parameter is defined as the expected value of the losses that an operation would have in case of default. It is expressed as a percentage of the EAD. Inflows (payments) and outflows are considered in calculating LGD. (viii) Loans write-off Criteria under which loans are written-off when collection efforts have been exhausted, but not later than the following maximum periods: Type of Loan Term Consumer loans – secured and unsecured 6 months Other transactions – unsecured 24 months Commercial loans – secured 36 months Residential mortgage loans 48 months Consumer leases 6 months Other non-real estate lease transactions 12 months Real estate leases (commercial or residential) 36 months The term represents the time elapsed by a loan from the date on which the unpaid collection or portion is in default. Cash recoveries on written-off loans are recorded directly through the income statement. (ix) Renegotiated loans: The Bank attempts to restructure loans rather than to take possession of collateral when economically convenient. This may involve extending the payment arrangements and the agreement of new loan conditions. After having renegotiated the terms, any impairment is measured using the original effective interest rate as calculated before the modification of terms and the loan is no longer considered past due. Renegotiated loans are continuously reviewed by management to ensure that all criteria are met and that future payments are likely to occur. The loans continue to be subject to an individual or collective impairment assessment, calculated using the loan's original effective interest rate. (x) Collateral valuation: The Bank seeks to use collateral, where possible, to mitigate its risks on financial assets. The collateral comes in various forms such as mortgages, pledges, securities, other non-financial assets and credit enhancements. The fair value of collateral is generally assessed, at a minimum, at inception through a certified appraiser, considering factors such as location, collateral type, and observable market value, among others. Additionally, the settlement costs, the time required to sell off the assets and the potential adverse market conditions are considered as well. However, some types of collateral, such as securities, are valued daily. To the extent possible, the Bank uses active market data for valuing financial assets held as collateral. (See Note No. 42 for further analysis of collateral). For impairment of loans estimates, Collateral is not accounted as an EAD mitigation factor, but as an LGD driver instead. |
Financial and operating leases | (j) Financial and operating leases: The determination of whether an arrangement is a lease, or it contains a lease, is based on the substance of the arrangement and requires an assessment of whether the fulfillment of the arrangement is dependent on the use of a specific asset or assets and the arrangement conveys a right to use the asset. (i) The Bank acting as lessor Assets leased to customers under agreements which transfer substantially all the risks and rewards of ownership, with or without ultimate legal title, are classified as financial leases. When assets held are subject to a financial lease, the leased assets are derecognized and a receivable is recognized which is equal to the present value of the minimum lease payments, discounted at the interest rate implicit in the lease. Initial direct costs incurred in negotiating and arranging a financial lease are incorporated into the receivable through the discount rate applied to the lease. Financial lease income is recognized over the lease term based on a pattern reflecting a constant periodic rate of return on the net investment in the financial lease. Assets leased to customers under agreements which do not transfer substantially all the risks and rewards of ownership are classified as operating leases. The leased assets are included within premises and equipment on the Group’s statement of financial position and depreciation is provided on the depreciable amount of these assets on a systematic basis over their estimated useful economic lives. Rental income is recognized on a straight-line basis over the period of the lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognized as an expense on a straight-line basis over the lease term. (ii) The Bank acting as lessee A contract is, or contains a lease, if one party has the right to control the use of an identified asset for a period of time in exchange for a regular payment. On the start date of a lease, a right-to-use assets leased is determined at cost, which includes the amount of the initial measurement of the lease liability plus other disbursements made. The amount of the lease liability is measured at the present value of future lease payments that have not been paid on that date, which are discounted using the Bank’s incremental financing interest rate. The right-of-use asset is measured using the cost model, less accumulated depreciation and accumulated losses due to impairment of value, depreciation of the right-of-use asset, is recognized in the Income Statement based on the linear depreciation method from the start date and until the end of the lease term. After the start date, the lease liability is measured by decreasing the carrying amount to reflect the lease payments made and the modifications to the lease. According to IFRS 16 “Leases” the bank does not apply this rule to contracts whose duration are 12 months or less and those that contain an underlying asset of low value. In these cases, payments are recognized as a lease expense. |
Interest revenue and expense | (k) Interest revenue and expense: Interest revenue and expenses are recognized in the Consolidated Income Statement using the effective interest rate method. The effective interest rate is the rate which exactly discounts estimated future cash payments or receipts through the expected life of the financial instrument or a shorter period, where appropriate, to the net carrying amount of the financial asset or financial liability. To calculate the effective interest rate, the Bank determines cash flows by taking into account all contractual conditions of the financial instrument, excluding future credit losses. The effective interest rate calculation includes all fees and other amounts paid or received that form part of the effective interest rate. Transaction costs include incremental costs that are directly attributable to the purchase or issuance of a financial asset or liability. |
Fees and commissions | (l) Fees and commissions: Revenue and expenses from fees are recognized in the Consolidated Income Statement using the criteria established in IFRS 15 "Revenue from contracts with customers". Under IFRS 15, revenues are recognized considering the terms of the contract with customers. Revenue is recognized when, or as the performance obligation is satisfied by transferring the goods or services committed to the customer. Under IFRS 15, revenues are recognized using different criteria depending on their nature. The most significant are: − Those that correspond to a singular act, when the act that originates them takes place. − Those that originate in transactions or services that are extended over time, during the life of such transactions or services. − Commissions on loan commitments and other fees related to credit operations are deferred (together with the incremental costs directly related to the placement) and recognized as an adjustment to the effective interest rate of the placement. In the case of loan commitments, when there is no certainty of the date of effective placement, the commissions are recognized on a linear basis in the duration period of the commitment. The fees registered by the Bank correspond mainly to: − Commissions for lines of credit and overdrafts: these commissions are accrued in the period in which the lines of credit and overdrafts are granted. The Bank revenues are recognized at a point in time when performance obligation is satisfied. − Commissions for guarantees and letters of credit: these commissions are accrued in the period in which the payment guarantees for real or contingent obligations of third parties are granted. The Bank revenues are recognized over time when performance obligation is satisfied. − Commissions for card services: correspond to commissions earned and accrued during the period, related to the use of credit, debit and other cards. The Bank revenues are recognized at a point in time when performance obligation is satisfied − Commissions for account management: includes commissions for the maintenance of current accounts and other deposit accounts. The Bank revenues are recognized over time when performance obligation is satisfied. − Commissions for collections, collections and payments: correspond to, collection and payments services provided by the Bank. The Bank revenues are recognized at a point in time when performance obligation is satisfied. − Commissions for intermediation and management of securities: correspond to income from brokerage service, placements, administration and custody of securities. The Bank revenues are recognized at a point in time when performance obligation is satisfied. − Remuneration for insurance commercialization: corresponds to income from the sale of insurance. The Bank revenues are recognized over time when performance obligation is satisfied. − Commissions for investments in mutual funds and others: corresponds to commissions originated in the administration of mutual funds. The Bank revenues are recognized at a point in time when performance obligation is satisfied. − Other commissions earned: Income generated by currency exchanges, financial advice, use of distribution channels, use of trademark agreement and placement of financial products and cash transfers and recognition of payments associated with strategic alliances, among others, are included. The Bank revenues are recognized at a point in time when performance obligation is satisfied. The expense commissions registered by the Bank correspond mainly to: − Remuneration for card operations: corresponds to commissions paid for the operation of credit and debit cards. − Inter-bank transactions: corresponds to commissions paid to the automatic clearing house for transactions carried out. − Commissions for operations with securities: corresponds to commissions for deposit and custody of securities and brokerage of securities are included. − Other commissions: corresponds to commissions for collection, payments and other online services are included. |
Property and equipment | (m) Property and equipment: Property and equipment is stated at cost excluding servicing cost, less accumulated depreciation and accumulated impairment. Changes in the expected useful life are accounted for by changing the depreciation period or method, as appropriate, and treated as changes in accounting estimates. This cost includes expenses that have been directly attributed to the asset's acquisition. Depreciation is recognized the Consolidated Statements of Income on a straight-line basis over the estimated useful lives of each part of an item of property and equipment. Estimated useful lives for 2018 and 2019 are as follows: Buildings 50 years Installations (in general) 10 years Equipment 5 years Office furniture 5 years Property and equipment is derecognized on disposal or when no future economic benefits are expected from its use. Any gain or loss arising on derecognition of the asset (calculated as the difference between the net disposal proceeds and the carrying amount of the asset) is recognized in "Impairments" in the income statement in the year the asset is derecognized. |
Intangible assets | (n) Intangible assets: Intangible assets are identified as non-monetary assets (separated from other assets) without physical substance that arise as the result of a legal transaction or that are developed internally by the consolidated entities. They are assets whose cost can be reliably estimated and for which the consolidated entities consider that it is probable that future economic benefits will be recognized. (i) Goodwill Goodwill arises on the acquisition of subsidiaries and associates representing the excess of the fair value of the purchase consideration over the net fair value of the Bank's share of the identifiable assets acquired and the liabilities and contingent liabilities assumed on the date of the acquisition. For the purpose of calculating goodwill, fair values of acquired assets, liabilities and contingent liabilities are determined by reference to market values or by discounting expected future cash flows to present value. This discounting is either performed using market rates or by using risk-free rates and risk-adjusted expected future cash flows. Goodwill originating from the acquisition of subsidiaries is capitalized and reviewed for impairment annually or more frequently if there are indications that impairment may have occurred. Impairment is determined by comparing the present value of expected future cash flows from each cash generating unit with the carrying value of its net assets, including attributable goodwill. Goodwill is allocated to cash generating units for the purpose of impairment testing considering the business level at which goodwill is monitored for internal management purposes. Impairment losses on goodwill are not reversed. Gains and losses on the disposal of an entity include the carrying amount of goodwill relating to the entity sold. (ii) Software and computer programs Computer software purchased by the Bank and its subsidiaries is accounted for at cost less accumulated amortization and impairment losses. The subsequent expense in software assets is capitalized only when it increases the future economic benefit for the specific asset. All other expenses are capitalized as an expense as incurred. Amortization is recorded in income using the straight-line amortization method based on the estimated useful life of the software, from the date on which it is available for use. The estimated useful life of software is a maximum of 6 years. Expense for internally developed software is recorded in income for each year. |
Collateral repossessed (assets received in lieu of payment) | (o) Collateral repossessed (assets received in lieu of payment): Assets received in lieu of payment are classified under "Other Assets" and they are recorded at the lower of carrying amount and fair value, less cost to sell. Assets that are determined better to be sold are immediately transferred to assets held-for-sale at their fair value at the repossession date in line with the Bank's policy. |
Investment Properties | (p) Investment Properties: Investment properties are real estate assets held to earn rental income or for capital appreciation or both, but are not held-for-sale in the ordinary course of business or used for administrative purposes. Investment properties are initially measured at cost, including transaction costs. Subsequent to initial recognition, they are carried at cost less accumulated depreciation and impairments using the same accounting policies as property and equipment. |
Deferred taxes and income taxes | (q) Deferred taxes and income taxes: The income tax provision of the Bank and its subsidiaries has been determined in conformity with current legal provisions. The Bank and its subsidiaries recognize, when appropriate, deferred tax assets and liabilities for future estimates of tax effects attributable to temporary differences between the book and tax values of assets and liabilities. Deferred tax assets and liabilities are measured based on the tax rate expected to be applied, in accordance with current tax law, in the year that deferred tax assets are realized or liabilities are settled. The effects of future changes in tax legislation or tax rates are recognized in deferred taxes starting on the date of publication of the law approving such changes. Deferred tax assets and liabilities are recorded at their book value as of the date the deferred taxes are measured. Deferred tax assets are recognized only when it is likely that future tax profits will be sufficient to recover deductions for temporary differences. |
Debt issued and other financial liabilities | (r) Debt issued and other financial liabilities: Financial instruments issued by the Bank are classified under “Debt issued”, where the substance of the contractual arrangement results in the Bank having an obligation either to deliver cash or another financial asset to the holder, or to satisfy the obligation other than by the exchange of a fixed amount of cash or another financial asset for a fixed number of equity shares. After initial measurement, debt issued is subsequently measured at amortized cost using the effective interest rate. Amortized cost is calculated by taking into account any discount or premium on the issue and costs that are an integral part of the effective interest rate. The Bank applies the same accounting policies for its other financial liabilities. |
Derivative instruments | (s) Derivative instruments: Derivative instruments, which include foreign currency and UF forwards, interest rate forwards, currency and interest rate swaps, currency and interest rate options and other financial derivative instruments, are recorded in the Statement of Financial Position at fair value regardless of whether they are held-for-trading or for non-trading purposes. The fair value is obtained from market quotes, discounted cash flows models and options valuation models, as and where applicable. Derivative contracts are reported as an asset when their fair value is positive and as a liability when negative under the item "Derivative Instruments". At inception, a derivative contract must be designated by the Bank as a derivative instrument for trading or hedging purposes. Changes in the fair value of derivative contracts held for trading purposes are recorded in "Net financial operating income", in the Consolidated Statement of Comprehensive Income. If a derivative instrument is classified as a hedging instrument, it can be: (1) A hedge of the fair value of existing assets or liabilities or firm commitments, or (2) A hedge of cash flows related to existing assets or liabilities or forecasted transactions. A hedge relationship for hedge accounting purposes must comply with all of the following conditions: (a) at its inception, the hedge relationship has been formally documented; (b) it is expected that the hedge will be highly effective; (c) the effectiveness of the hedge can be measured in a reasonable manner; and (d) the hedge is highly effective with respect to the hedged risk on an ongoing basis and throughout the entire hedge relationship. Certain derivatives transactions that do not qualify for hedge accounting are treated and reported as derivatives for trading purposes even though they provide an effective hedge on the risk of net positions. Changes in the fair value of derivative contracts that qualify for hedge accounting are recorded, as follows: ● If derivative contracts qualify for hedge accounting of changes in the fair value of assets, liabilities or unrecognized firm commitments (Fair Value Hedge), changes in the fair value of both the hedged asset (or liability) and the hedging derivative are recognized in the income statement under "Interest revenue and expenses" and/or "Foreign Exchange Transactions, Net", depending on the risk being hedged. On the other hand, any ineffective portion of the Fair Value Hedge is recognized in the income statement under "Net Financial Operating Income." ● If derivative contracts qualify for hedge accounting of the variability of future cash flows from highly probable future transactions and/or floating rate assets or liabilities (Cash Flow Hedge), the changes in fair value are recorded in Equity under "Other Comprehensive Income", to the extent that the hedge is effective. Changes in the fair value of the Cash Flow Hedge are subsequently reclassified to the income statement when and where the hedged item affects the Bank's results (e.g. to Interest Revenues and Expenses and/or Foreign Exchange Transactions when the hedged instrument affects the income statement because of interest rate risk, or exchange rate risk, respectively). On the other hand, any ineffective portion of the Cash Flow Hedge is recognized in the comprehensive statement of income under the "Net Financial Operating Income" line item. Finally, if the hedging instrument does not continue qualifying for hedge accounting and/or it is terminated, sold, suspended or executed, the hedge accounting is discontinued prospectively. In this case, gains/losses already accrued will remain in Equity until the expected transactions occur. In that moment, gains/losses will be recorded in the Income Statement (under "Interest Revenues or Expenses" and/or "Foreign Exchange Transactions" depending on the risk being hedged) as long as transactions occur. Otherwise, if transactions are expected to fail, the changes in fair value are immediately recognized in the Income Statement (under "Interest Revenues or Expenses" and/or "Foreign Exchange Transactions" depending on the risk that was used to be hedged)." |
Operations under resale and repurchase agreements | (t) Operations under resale and repurchase agreements: The Bank carries out operations under resale agreements as a form of investment. The securities purchased under these agreements are not recognized on the Bank’s Consolidated Statement of Financial Position. The consideration paid is recognized under “Investments under resale agreements” reflecting the transaction’s economic substance as a loan granted by the Bank. The difference between the purchase and the resale price is recorded in “Net Interest Income” and is accrued over the duration of the agreement using its effective interest rate. This treatment reflects the economic substance as a loan to the Bank. The Bank also carries out operations under repurchase agreements as a form of financing. The securities sold under a repurchase agreement at a specific date in the future are not derecognized from the Consolidated Statement of Financial Position because the Bank retains all the risks and rewards of the ownership of the securities. The corresponding cash received is recognized in the balance sheet as an asset, and the corresponding obligation to return the cash, including any accrued interest, is recognized as a liability under “Obligations under repurchase agreements”. The difference between the sale and the repurchase price is treated as “Interest Expense” and is accrued over the duration of the agreement using the effective interest rate. The treatment of secured lending and financing transactions follows the principles laid out above. As of December 31, 2019 and 2018, there were no operations corresponding to securities lending. |
Customer loyalty programs | (u) Customer loyalty programs: The Bank maintains a loyalty program to provide incentives to its customers, which allows acquiring goods and/or services, based on the exchange of prize points ("Dolares-Premio"), which are granted based on the purchases made with Bank's credit cards and the compliance of certain conditions established in said program. The consideration for the prizes is made by a third party. In accordance with IFRS 15, these associated benefit plans have the necessary provisions to meet the delivery of committed future performance obligations. |
Provisions and contingent liabilities | (v) Provisions and contingent liabilities: Provisions are liabilities that are characterized by uncertainty in either their amount or maturity. Provisions are recorded in the Statement of Financial Position when the following requirements are jointly met: (i) a present obligation has arisen from a past event and, (ii) as of the date of the financial statements it is likely that the Bank or its subsidiaries have to disburse resources to settle the obligation and, (iii) the amount can be reliably measured. A contingent asset or liability is any right or obligation that arises from past events whose existence will be confirmed by one or more uncertain future events which are not within the control of the Bank. Contingent assets and liabilities are not recognized in the Statement of Financial Position according to the above mentioned requirements. |
Provisions for minimum dividends | (w) Provisions for minimum dividends: According with the Compendium of Accounting Standards of the CMF, the Bank records within liabilities the portion of net income for the year that should be distributed to comply with the Corporations Law or its dividend policy. For these purposes, the Bank establishes a provision in a complementary equity account within retained earnings. Distributable net income is considered for the purpose of calculating a minimum dividends provision, which in accordance with the Bank's bylaws is defined as that which results from reducing or adding to net income the value of price-level restatement for the concept of restatement or adjustment of paid-in capital and reserves for the year. |
Employee benefits | (x) Employee benefits: (i) Staff accrued vacations The annual costs of vacations and staff benefits are recognized on an accrual basis. (ii) Short-term benefits The Bank has a yearly bonus plan for its employees based on their ability to meet objectives and their individual contribution to the Company's results, consisting of a given number or portion of monthly salaries. It is provisioned for based on the estimated amount to be distributed. (iii) Staff severance indemnities Banco de Chile has recorded a liability for long-term severance indemnities in accordance with employment contracts it has with certain employees. The liability, which is payable to specified retiring employees with over 30 years of service, is recorded at the present value of the accrued benefits, which are calculated by applying a real discount rate to the benefit accrued as of year-end over the estimated average remaining service period. Obligations for this defined benefits plan are valued according to the projected unit credit actuarial valuation method, using inputs such as staff turnover rates, expected salary growth in wages and probability that this benefit will be used, discounted at current long-term rates (4.25% as of December 31, 2018 and 3.17% as of December 31, 2019). The discount rate used corresponds to the rate of 10-year Chilean Central Bank Bonds in pesos (BCP). Actuarial gains and losses are recognized as Other Comprehensive Income at the end of each reporting period. There is no past service costs that would have to be recognized by the Bank. |
Equity reserves | (y) Equity reserves: The equity reserves recorded in the Bank's Statement of Financial Position include: Reserves from Earnings: This item includes all the reserves that were originated from earnings and that by legal or statutory dispositions, or agreements of the shareholders' meeting, will not be distributed in the form of future dividends. Other reserves: This item includes all the reserves that do not come from earnings and that do not correspond to those indicated in previous items. Unrealized gains (losses) on financial assets at fair value through other comprehensive income: This item comprises changes in the fair value of these instruments. |
Earnings per share | (z) Earnings per share: Basic earnings per share is determined by dividing net income for the year attributable to the Bank by the average weighted number of shares in circulation during that period. Diluted earnings per share are determined similarly to basic earnings, but the weighted average number of outstanding shares is adjusted to take into account the potential dilutive effect of the options on shares, warrants and convertible debt. As of December 31, 2018 and 2019, there are no dilutive items on basic earnings per share. (aa) Cash and cash equivalents: Cash and short-term deposits in the Statement of Financial Position comprise cash at banks and on hand and short-term deposits with original maturity of three months or less, highly liquid investments that are readily convertible to a known amount of cash, and that are subject to an insignificant risk of changes in value. The Bank has included as cash and cash equivalents to the account “Cash and due from banks”, plus (minus) the net balance of transactions in the course of collection that are shown in the Consolidated Statement Financial Position, plus short-term resale agreements and investments in fixed-income mutual funds that are presented in “Financial Assets held-for-trading” in the Consolidated Statement of Financial Position. (ab) Segment reporting: The Bank’s operating segments are defined based on its different business units, considering the following factors: (i) That it develops business activities from which income is obtained and expenses are incurred (including income and expenses relating to transactions with other components of the same entity); (ii) That its operating results are reviewed regularly by the entity’s highest decision-making authority for operating decisions, to determine resource allocation for the segment and evaluate its performance; and (iii) That separate financial information is available. (ac) Fiduciary activities: The Bank provides trust and other fiduciary services that result in the holding or investing of assets on behalf of the clients. Assets held in a fiduciary capacity are not reported in the financial statements, as they are not the assets of the Bank. (ad) Identifying and measuring impairment on non-financial assets The Bank assesses at each reporting date and on an ongoing basis whether there is an indication that an asset may be impaired. If any indication exists, or if annual impairment testing for an asset is required, the Bank estimates the asset’s recoverable amount. An asset’s recoverable amount is the higher of an asset’s or cash-generating unit’s (“CGU”) fair value less costs to sell and its value in use. Where the carrying amount of an asset or CGU exceeds its recoverable amount, the asset is considered impaired and is written down to its recoverable amount. In assessing value in use, the estimated cash flows are discounted to their present value using a pre-tax discount rate that reflects the current market assessments of the time value of money and risks specific to the asset. In determining fair value less costs to sell, an appropriate valuation model is used. These calculations are corroborated by valuation multiples, share prices and other available fair value indicators. For assets, excluding goodwill, impairment losses recognized in prior years are assessed at each reporting date in case there are any indications that the loss has decreased or disappeared. A previously recognized impairment is reversed only if there has been a change in the assumptions used to determine the asset’s recoverable amount since the last impairment was recognized. An impairment loss is reversed only to the extent that the book value of the asset does not exceed the carrying amount that would have been determined, net of depreciation or amortization, if no impairment loss had been recognized. Such reversal is recognized in the income statement. Impairment losses relating to goodwill cannot be reversed in future periods. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Summary of Significant Accounting Policies [abstract] | |
Schedule of entities in which bank directly or indirectly owns a controlling interest | Functional Interest Owned RUT Subsidiaries Country Currency Direct Indirect Total 2018 2019 2018 2019 2018 2019 % % % % % % 96,767,630-6 Banchile Administradora General de Fondos S.A. Chile Ch$ 99.98 99.98 0.02 0.02 100.00 100.00 96,543,250-7 Banchile Asesoría Financiera S.A. Chile Ch$ 99.96 99.96 — — 99.96 99.96 77,191,070-K Banchile Corredores de Seguros Ltda. Chile Ch$ 99.83 99.83 0.17 0.17 100.00 100.00 96,571,220-8 Banchile Corredores de Bolsa S.A. Chile Ch$ 99.70 99.70 0.30 0.30 100.00 100.00 96,932,010-K Banchile Securitizadora S.A. Chile Ch$ 99.01 99.01 0.99 0.99 100.00 100.00 96,645,790-2 Socofin S.A. Chile Ch$ 99.00 99.00 1.00 1.00 100.00 100.00 |
Schedule of maximum period for write-offs of loans | Type of Loan Term Consumer loans – secured and unsecured 6 months Other transactions – unsecured 24 months Commercial loans – secured 36 months Residential mortgage loans 48 months Consumer leases 6 months Other non-real estate lease transactions 12 months Real estate leases (commercial or residential) 36 months |
Schedule of estimated useful lives | Buildings 50 years Installations (in general) 10 years Equipment 5 years Office furniture 5 years |
Segment Reporting (Tables)
Segment Reporting (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of operating segments [abstract] | |
Schedule of segment reporting | As of December 31, 2017 Retail Wholesale Treasury Subsidiaries Subtotal Reclassifications and adjustments to conform IFRS Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Note MCh$ Net interest income 930,539 322,431 (21,169 ) (4,336 ) 1,227,465 7,230 1,234,695 Net fees and commissions income 184,049 43,443 (4,306 ) 135,987 359,173 (11,499 ) 347,674 Other operating income 19,095 34,712 56,328 26,884 137,019 (31,846 ) 105,173 Total operating revenue 1,133,683 400,586 30,853 158,535 1,723,657 (36,115 ) (1) 1,687,542 Provisions for loan losses (256,262 ) 21,415 ― (135 ) (234,982 ) 13,727 (2) (221,255 ) Depreciation and amortization (27,669 ) (4,547 ) (141 ) (2,894 ) (35,251 ) (2,285 ) (3) (37,536 ) Other operating expenses (507,771 ) (153,360 ) (5,022 ) (102,281 ) (768,434 ) 21,614 (4) (746,820 ) Income attributable to associates 4,372 1,026 108 551 6,057 (546 ) 5,511 Income before income taxes 346,353 265,120 25,798 53,776 691,047 (3,605 ) 687,442 Income taxes (115,034 ) (327 ) (5) (115,361 ) Income after income taxes 576,013 (3,932 ) 572,081 Assets 16,099,926 10,558,278 5,469,829 637,860 32,765,893 (388,753 ) 32,377,140 Current and deferred taxes 290,432 (106,135 ) 184,297 Total assets 33,056,325 (494,888 ) (6) 32,561,437 Liabilities 10,380,250 10,272,607 8,815,056 479,244 29,947,157 (934,521 ) 29,012,636 Current and deferred taxes 3,453 ― 3,453 Total liabilities 29,950,610 (934,521 ) (7) 29,016,089 Reclassifications and adjustments to conform IFRS (1) The total effect due to the elimination adjustments to conform the total operating revenue is MCh$(14,387). In addition the total effect of IFRS adjustments is MCh$(21,728) which mainly stems from the reclassification of interest on repurchase agreements and suspended interest recognition. (2) The total effect relates to IFRS adjustments of MCh$13,727, which mainly stems from differences in the calculation of allowances for loan losses. (3) The total effect relates to IFRS adjustments of MCh$(2,285), which stems from the amortization of intangibles and depreciation of property and equipment acquired through business combinations. (4) The total effect due to the elimination adjustments to conform other operating expenses is MCh$14,387. In addition the total effect of IFRS adjustments is MCh$7,227, which represents reversal of write-offs of assets received in lieu of payments. (5) The total effect relates to IFRS adjustments of MCh$(327), which stems from deferred taxes. (6) The total effect due to the elimination adjustments to conform the consolidated financial position data in assets is MCh$(232,137). In addition the total effect of IFRS adjustments in assets is MCh$(262,751), which mainly stems from differences in the calculation of allowances for loan losses, the acquisition of Citibank Chile and deferred taxes effects and settlement of transactions in the course of collection. (7) The total effect due to the elimination adjustments to conform the consolidated financial position data in liabilities is MCh$(232,137). In addition the total effect of IFRS adjustments in liabilities is MCh$(702,384), which mainly stems from provision for minimum dividends and differences in the calculation of allowances for loan losses. As of December 31, 2018 Retail Wholesale Treasury Subsidiaries Subtotal Reclassifications and adjustments to conform IFRS Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Note MCh$ Net interest income 972,172 355,451 (2,415 ) (8,994 ) 1,316,214 4,763 1,320,977 Net fees and commissions income 184,545 45,905 (4,031 ) 145,704 372,123 (12,168 ) 359,955 Other operating income 43,288 59,376 63,931 33,341 199,936 (34,798 ) 165,138 Total operating revenue 1,200,005 460,732 57,485 170,051 1,888,273 (42,203 ) (1) 1,846,070 Provisions for loan losses (287,569 ) 6,041 ― 118 (281,410 ) 31,639 (2) (249,771 ) Depreciation and amortization (29,571 ) (5,008 ) (91 ) (3,011 ) (37,681 ) ― (37,681 ) Other operating expenses (561,513 ) (152,921 ) (4,693 ) (105,906 ) (825,033 ) 23,006 (3) (802,027 ) Income attributable to associates 4,220 2,173 400 462 7,255 (444 ) 6,811 Income before income taxes 325,572 311,017 53,101 61,714 751,404 11,998 763,402 Income taxes (156,531 ) (3,237 ) (4) (159,768 ) Income after income taxes 594,873 8,761 603,634 Assets 16,425,483 10,591,702 8,093,850 925,440 36,036,475 (612,545 ) 35,423,930 Current and deferred taxes 262,582 (85,082 ) 177,500 Total assets 36,299,057 (697,627 ) (5) 35,601,430 Liabilities 10,399,587 9,873,018 11,952,656 764,736 32,989,997 (1,067,190 ) 31,922,807 Current and deferred taxes 4,907 ― 4,907 Total liabilities 32,994,904 (1,067,190 ) (6) 31,927,714 Reclassifications and adjustments to conform IFRS (1) The total effect due to the elimination adjustments to conform the total operating revenue is MCh$(14,990). In addition the total effect of IFRS adjustments is MCh$(27,213) which mainly stems from the reclassification of interest on repurchase agreements and suspended interest recognition. (2) The total effect relates to IFRS adjustments of MCh$31,639, which mainly stems from differences in the calculation of allowances for loan losses. (3) The total effect due to the elimination adjustments to conform other operating expenses is MCh$14,990. In addition the total effect of IFRS adjustments is MCh$8,016, which mainly represents reversal of write-offs of assets received in lieu of payments. (4) The total effect relates to IFRS adjustments of MCh$(3,237), which stems from deferred taxes. (5) The total effect due to the elimination adjustments to conform the consolidated financial position data in assets is MCh$(388,615). In addition the total effect of IFRS adjustments in assets is MCh$(309,012), which mainly stems from differences in the calculation of allowances for loan losses, the acquisition of Citibank Chile and deferred taxes effects and settlement of transactions in the course of collection. (6) The total effect due to the elimination adjustments to conform the consolidated financial position data in liabilities is MCh$(388,615). In addition the total effect of IFRS adjustments in liabilities is MCh$(678,575), which mainly stems from provision for minimum dividends and differences in the calculation of allowances for loan losses. As of December 31, 2019 Retail Wholesale Treasury Subsidiaries Subtotal Reclassifications and adjustments to conform IFRS Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Note MCh$ Net interest income 1,033,646 359,074 (19,246 ) (7,651 ) 1,365,823 5,455 1,371,278 Net fees and commissions income 270,064 48,097 (3,241 ) 153,330 468,250 (10,948 ) 457,302 Other operating income 34,854 61,505 45,105 53,931 195,395 (18,757 ) 176,638 Total operating revenue 1,338,564 468,676 22,618 199,610 2,029,468 (24,250 ) (1) 2,005,218 Provisions for loan losses (333,156 ) (14,052 ) ― (66 ) (347,274 ) 15,673 (2) (331,601 ) Depreciation and amortization (58,725 ) (5,885 ) (85 ) (5,846 ) (70,541 ) ― (70,541 ) Other operating expenses (587,212 ) (151,660 ) (5,040 ) (111,499 ) (855,411 ) 23,702 (3) (831,709 ) Income attributable to associates 3,957 1,669 331 493 6,450 (411 ) 6,039 Income before income taxes 363,428 298,748 17,824 82,692 762,692 14,714 777,406 Income taxes (169,683 ) (3,978 ) (4) (173,661 ) Income after income taxes 593,009 10,736 603,745 Assets 18,139,505 10,766,374 11,426,849 964,695 41,297,423 (515,199 ) 40,782,224 Current and deferred taxes 321,305 (89,655 ) 231,650 Total assets 41,618,728 (604,854 ) (5) 41,013,874 Liabilities 11,407,066 10,750,446 15,075,652 781,052 38,014,216 (982,392 ) 37,031,824 Current and deferred taxes 76,289 ― 76,289 Total liabilities 38,090,505 (982,392 ) (6) 37,108,113 Reclassifications and adjustments to conform IFRS (1) The total effect due to the elimination adjustments to conform the total operating revenue is MCh$(14,948). In addition the total effect of IFRS adjustments is MCh$(9,302) which mainly stems from the reclassification of interest on repurchase agreements and suspended interest recognition. (2) The total effect relates to IFRS adjustments of MCh$15,673, which mainly stems from differences in the calculation of allowances for loan losses. (3) The total effect due to the elimination adjustments to conform other operating expenses is MCh$14,948. In addition the total effect of IFRS adjustments is MCh$8,754, which mainly represents reversal of write-offs of assets received in lieu of payments. (4) The total effect relates to IFRS adjustments of MCh$(3,978), which stems from deferred taxes. (5) The total effect due to the elimination adjustments to conform the consolidated financial position data in assets is MCh$(345,395). In addition the total effect of IFRS adjustments in assets is MCh$(259,459), which mainly stems from differences in the calculation of allowances for loan losses, the acquisition of Citibank Chile and deferred taxes effects and settlement of transactions in the course of collection. (6) The total effect due to the elimination adjustments to conform the consolidated financial position data in liabilities is MCh$(345,395). In addition the total effect of IFRS adjustments in liabilities is MCh$(636,997), which mainly stems from provision for minimum dividends and differences in the calculation of allowances for loan losses. |
Cash and Cash Equivalents (Tabl
Cash and Cash Equivalents (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Cash and cash equivalents [abstract] | |
Schedule of reconciliation of cash and cash equivalents to statement of cash flows | 2018 2019 MCh$ MCh$ Cash and due from banks: Cash (*) 624,862 889,911 Current account with the Central Bank (*) 121,807 178,429 Deposits in other domestic banks 26,698 75,651 Deposits abroad 106,714 1,248,175 Subtotal - Cash and due from banks 880,081 2,392,166 Transactions in the course of collection 244,758 232,551 Highly liquid financial instruments (**) 83,807 371,063 Repurchase agreements 72,632 114,466 Total cash and cash equivalents 1,281,278 3,110,246 (*) Amounts in cash and Central Bank deposits are mandatory reserve deposits for which the Bank must maintain a minimum specified monthly average balance. (**) It corresponds to negotiation instruments and investment instruments, whose terms do not exceed three months from the date of acquisition. |
Schedule of highly liquid financial instruments | 2018 2019 MCh$ MCh$ Highly liquid financial instruments: Financial Assets Held-for-trading 83,807 371,063 Total 83,807 371,063 |
Schedule of transactions in the course of collection | 2018 2019 MCh$ MCh$ Assets Documents drawn on other banks (clearing) 210,743 222,261 Funds receivable 78,451 109,159 Subtotal transactions in the course of collection 289,194 331,420 Liabilities Funds payable (44,436 ) (98,869 ) Subtotal transactions in the course of payment (44,436 ) (98,869 ) Total transactions in the course of collection 244,758 232,551 |
Financial Assets Held-for-Tra_2
Financial Assets Held-for-Trading (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of financial assets [abstract] | |
Schedule of Financial assets held-for-trading | 2018 2019 MCh$ MCh$ Instruments issued by the Chilean Government and Central Bank: Central Bank bonds 24,906 16,490 Central Bank promissory notes 1,410,080 1,008,035 Other instruments issued by the Chilean Government and Central Bank 88,486 99,164 Other instruments issued in Chile Bonds from other domestic companies 7,532 1,556 Bonds from domestic banks 20,186 55,094 Deposits in domestic banks 100,225 315,415 Other instruments issued in Chile 1,664 3,272 Instruments issued by foreign institutions Other instruments issued abroad 4,446 ― Mutual fund investments Funds managed by related companies 87,841 373,329 Funds managed by third-party ― ― Total 1,745,366 1,872,355 |
Investments Under Resale Agre_2
Investments Under Resale Agreements and Obligations Under Repurchase Agreements (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Cash collateral on securities and reverse repurchase agreements [abstract] | |
Schedule of receivables from repurchase agreements and security borrowing | Up to 1 month Over 1 month Over 3 months Over 1 year Over 3 years Over 5 years Total 2018 2019 2018 2019 2018 2019 2018 2019 2018 2019 2018 2019 2018 2019 MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Instruments issued by the Chilean Governments and Central Bank of Chile Central Bank bonds — 11,184 — — — — — — — — — — — 11,184 Central Bank promissory notes 742 — — — — — — — — — — — 742 — Other instruments issued by the Chilean Government and Central Bank — 18,459 — — — — — — — — — — — 18,459 Subtotal 742 29,643 — — — — — — — — — — 742 29,643 Other Instruments issued in Chile Deposit promissory notes from domestic banks — — — — — — — — — — — — — — Mortgage bonds from domestic banks — — — — — — — — — — — — — — Bonds from domestic banks 367 15,407 — — — — — — — — — — 367 15,407 Deposits in domestic banks 2,053 — — — — — — — — — — — 2,053 — Bonds from other Chilean companies — — — — — — — — — — — — — — Other instruments issued in Chile 70,334 57,007 16,918 29,393 6,875 10,879 — — — — — — 94,127 97,279 Subtotal 72,754 72,414 16,918 29,393 6,875 10,879 — — — — — — 96,547 112,686 Instruments issued by foreign institutions Instruments from foreign governments or Central Bank — — — — — — — — — — — — — — Other instruments — — — — — — — — — — — — — — Subtotal — — — — — — — — — — — — — — Total 73,496 102,057 16,918 29,393 6,875 10,879 — — — — — — 97,289 142,329 |
Schedule of Payables by Selling financial instruments and Security Repurchase commitment | Up to 1 month Over 1 month Over 3 months Over 1 year Over 3 years Over 5 years Total 2018 2019 2018 2019 2018 2019 2018 2019 2018 2019 2018 2019 2018 2019 MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Instruments issued by the Chilean Governments and Central Bank of Chile Central Bank bonds 130,197 7,301 — — — — — — — — — — 130,197 7,301 Central Bank promissory notes — 9,067 — — — — — — — — — — — 9,067 Other instruments issued by the Chilean Government and Central Bank — — — — — — — — — — — — — — Subtotal 130,197 16,368 — — — — — — — — — — 130,197 16,368 Other Instruments issued in Chile Deposit promissory notes from domestic banks — — — — — — — — — — — — — — Mortgage bonds from domestic banks — — — — — — — — — — — — — — Bonds from domestic banks — — — — — — — — — — — — — — Deposits in domestic banks 162,167 280,696 1,448 8,583 5,210 — — — — — — — 168,825 289,279 Bonds from other Chilean companies — — — — — — — — — — — — — — Other instruments issued in Chile 4,798 1,647 — — — 1,440 — — — — — — 4,798 3,087 Subtotal 166,965 282,343 1,448 8,583 5,210 1,440 — — — — — — 173,623 292,366 Instruments issued by foreign institutions Instruments from foreign governments or central bank — — — — — — — — — — — — — — Other instruments issued by foreign — — — — — — — — — — — — — — Subtotal — — — — — — — — — — — — — — Total 297,162 298,711 1,448 8,583 5,210 1,440 — — — — — — 303,820 308,734 |
Derivative Instruments and Ac_2
Derivative Instruments and Accounting Hedges (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Derivative Instruments and Accounting Hedges [abstract] | |
Schedule of Bank's portfolio of derivative instruments | As of December 31, 2018 Notional Fair value contract Asset Liability MCh$ MCh$ MCh$ Derivatives held for hedging of fair value Cross currency swap 11,132 ― 3,012 Interest rate swap 226,954 1,116 3,152 Total derivatives held for hedging purposes 238,086 1,116 6,164 Derivatives held as cash flow hedges Interest rate swap and cross currency swap 1,137,457 34,298 31,818 Total Derivatives held as cash flow hedges 1,137,457 34,298 31,818 Derivatives held-for-trading purposes Currency forward 35,690,464 735,444 631,089 Interest rate swap 72,330,827 287,611 284,840 Cross currency swap and interest rate swap 13,982,890 450,519 569,868 Call currency options 229,175 4,839 2,921 Put currency options 192,553 120 1,534 Total derivatives held-for-trading purposes 122,425,909 1,478,533 1,490,252 Total 123,801,452 1,513,947 1,528,234 As of December 31, 2019 Notional Fair value contract Asset Liability MCh$ MCh$ MCh$ Derivatives held for hedging of fair value Cross currency swap 8,166 ― 2,547 Interest rate swap 86,317 32 6,739 Total derivatives held for hedging purposes 94,483 32 9,286 Derivatives held as cash flow hedges Interest rate swap and cross currency swap 1,181,882 61,562 34,443 Total Derivatives held as cash flow hedges 1,181,882 61,562 34,443 Derivatives held-for-trading purposes Currency forward 34,499,472 956,632 673,932 Interest rate swap 61,411,254 888,581 886,963 Cross currency swap and interest rate swap 18,575,756 873,371 1,210,059 Call currency options 178,414 4,961 1,529 Put currency options 158,672 1,076 2,209 Total derivatives held-for-trading purposes 114,823,568 2,724,621 2,774,692 Total 116,099,933 2,786,215 2,818,421 |
Schedule of Details of the Hedged elements and hedge instruments under fair value hedges | As of December 31, 2018 2019 MCh$ MCh$ Notional Amounts Hedged element Commercial loans 11,132 8,166 Corporate bonds 226,954 86,317 Hedge instrument Cross currency swap 11,132 8,166 Interest rate swap 226,954 86,317 |
Schedule of cash flows of borrowings from banks and bonds issued abroad, the objects of these hedges and the cash flows of the asset part of the derivative | Up to 1 month Over 1 month Over 3 months Over 1 year Over 3 years Over 5 years Total 2018 2019 2018 2019 2018 2019 2018 2019 2018 2019 2018 2019 2018 2019 MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Hedge element Outflows: Corporate Bond EUR — — — — (1,338 ) (1,421 ) (2,675 ) (2,842 ) (2,675 ) (2,842 ) (87,097 ) (91,089 ) (93,785 ) (98,194 ) Corporate Bond HKD — — — — (66,378 ) (12,829 ) (21,601 ) (25,627 ) (83,608 ) (91,034 ) (263,206 ) (320,604 ) (434,793 ) (450,094 ) Corporate Bond PEN — — — (894 ) — (894 ) — (3,575 ) — (3,575 ) — (49,651 ) — (58,589 ) Corporate Bond CHF — — (89,256 ) — (125,993 ) (798 ) (1,450 ) (1,597 ) (82,552 ) (90,095 ) (106,050 ) (116,765 ) (405,301 ) (209,255 ) Corporate Bond USD — — — — (1,476 ) (1,600 ) (2,952 ) (3,200 ) (2,952 ) (3,200 ) (42,060 ) (43,994 ) (49,440 ) (51,994 ) Obligation USD (870 ) (216 ) (86 ) (336 ) (49,401 ) (884 ) (105,622 ) (166,592 ) — — — — (155,979 ) (168,028 ) Corporate Bond JPY — — (49,362 ) (34,638 ) (1,072 ) (2,121 ) (33,487 ) (38,596 ) (32,882 ) (3,482 ) (71,830 ) (193,625 ) (188,633 ) (272,462 ) Corporate Bond AUD — — — (428 ) — (3,274 ) — (7,399 ) — (7,401 ) — (156,499 ) — (175,001 ) Corporate Bond NOK — — — — — (2,341 ) — (4,682 ) — (4,682 ) — (75,919 ) — (87,624 ) Hedge instrument Inflows: Cross Currency Swap EUR — — — — 1,338 1,421 2,675 2,842 2,675 2,842 87,097 91,089 93,785 98,194 Cross Currency Swap HKD — — — — 66,378 12,829 21,601 25,627 83,608 91,034 263,206 320,604 434,793 450,094 Cross Currency Swap PEN — — — 894 — 894 — 3,575 — 3,575 — 49,651 — 58,589 Cross Currency Swap CHF — — 89,256 — 125,993 798 1,450 1,597 82,552 90,095 106,050 116,765 405,301 209,255 Cross Currency Swap USD — — — — 1,476 1,600 2,952 3,200 2,952 3,200 42,060 43,994 49,440 51,994 Cross Currency Swap USD 870 216 86 336 49,401 884 105,622 166,592 — — — — 155,979 168,028 Cross Currency Swap JPY — — 49,362 34,638 1,072 2,121 33,487 38,596 32,882 3,482 71,830 193,625 188,633 272,462 Cross Currency Swap AUD — — — 428 — 3,274 — 7,399 — 7,401 — 156,499 — 175,001 Cross Currency Swap NOK — — — — — 2,341 — 4,682 — 4,682 — 75,919 — 87,624 Net cash flows — — — — — — — — — — — — — — |
Schedule of cash flows of the underlying assets portfolio and the cash flow of the liability | Up to 1 month Over 1 month Over 3 months Over 1 year Over 3 years Over 5 years Total 2018 2019 2018 2019 2018 2019 2018 2019 2018 2019 2018 2019 2018 2019 MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Hedge element Inflows: Cash flows in CLF — 156 144,458 33,648 237,340 21,062 173,263 234,065 195,590 280,074 542,523 795,068 1,293,174 1,364,073 Hedge instrument Outflows: Cross Currency Swap HKD — (156 ) — — (59,667 ) (8,798 ) (16,835 ) (17,906 ) (68,362 ) (69,035 ) (233,286 ) (268,034 ) (378,150 ) (363,929 ) Cross Currency Swap PEN — — — (47 ) — (48 ) — (188 ) — (189 ) — (31,223 ) — (31,695 ) Cross Currency Swap JPY — — (50,247 ) (33,570 ) (2,740 ) (4,096 ) (37,432 ) (40,344 ) (35,213 ) (6,424 ) (78,611 ) (199,778 ) (204,243 ) (284,212 ) Cross Currency Swap USD — — — — (47,797 ) (1,275 ) (107,893 ) (161,941 ) (1,243 ) (1,281 ) (36,888 ) (37,242 ) (193,821 ) (201,739 ) Cross Currency Swap CHF — — (94,211 ) — (125,325 ) (3,858 ) (7,482 ) (7,653 ) (87,164 ) (197,107 ) (108,488 ) — (422,670 ) (208,618 ) Cross Currency Swap EUR — — — — (1,811 ) (1,857 ) (3,621 ) (3,715 ) (3,608 ) (3,718 ) (85,250 ) (85,686 ) (94,290 ) (94,976 ) Cross Currency Swap AUD — — — (31 ) — (521 ) — (1,103 ) — (1,104 ) — (108,622 ) — (111,381 ) Cross Currency Swap NOK — — — — — (609 ) — (1,215 ) — (1,216 ) — (64,483 ) — (67,523 ) Net cash flows — — — — — — — — — — — — — — |
Loans and Advances to Banks, _2
Loans and Advances to Banks, Net (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Loans and Advances to Banks, net [abstract] | |
Schedule of loans and advance to banks, net | 2018 2019 MCh$ MCh$ Domestic Banks Interbank loans 100,023 150,007 Other credits with domestic banks — — Provisions for loans to domestic banks (247 ) (33 ) Subtotal 99,776 149,974 Foreign Banks Loans to foreign banks 239,797 289,337 Credits with third countries 41,872 8,934 Chilean export trade banks 12,873 61,860 Provisions for loans to foreign banks (765 ) (77 ) Subtotal 293,777 360,054 Central Bank of Chile Central Bank deposits 1,100,306 630,053 Other Central Bank credits 525 — Subtotal 1,100,831 630,053 Total 1,494,384 1,140,081 |
Schedule of impairment allowance for due from banks | 2018 2019 Stage 1 Individual Stage 2 Individual Stage 3 Individual Total Stage 1 Individual Stage 2 Individual Stage 3 Individual Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Domestic Banks Normal 100,023 — — 100,023 150,007 — — 150,007 Substandard — — — — — — — — Non-complying — — — — — — — — Subtotal 100,023 — — 100,023 150,007 — — 150,007 Foreign Banks Normal 266,648 27,894 — 294,542 238,491 121,640 — 360,131 Substandard — — — — — — — — Non-complying — — — — — — — — Subtotal 266,648 27,894 — 294,542 238,491 121,640 — 360,131 Central Bank of Chile Normal 1,100,831 — — 1,100,831 630,053 — — 630,053 Substandard — — — — — — — — Non-complying — — — — — — — — Subtotal 1,100,831 — — 1,100,831 630,053 — — 630,053 Total 1,467,502 27,894 — 1,495,396 1,018,551 121,640 — 1,140,191 |
Schedule of changes in gross carrying amount and corresponding allowance for ECL by stage | Changes as of December 31, 2018 Stage 1 Individual Stage 2 Individual Stage 3 Individual Total Gross carrying ECL Gross carrying ECL Gross carrying ECL Gross carrying ECL ECL allowances as of January 1, 2018 760,285 772 — — — — 760,285 772 Net change on ECL allowances * 746,808 250 1,376 9 — — 748,184 259 Transfer to Stage 1 — — — — — — — — Transfer to Stage 2 (26,518 ) (63 ) 26,518 63 — — — — Transfer to Stage 3 — — — — — — — — Impact on year-end ECL of exposures transferred between stages during the year ** — — — 3 — — — 3 Amounts written off — — — — — — — — Foreign exchange adjustments (13,073 ) (22 ) — — — — (13,073 ) (22 ) Total 1,467,502 937 27,894 75 — — 1,495,396 1,012 Changes as of December 31, 2019 Stage 1 Individual Stage 2 Individual Stage 3 Individual Total Gross carrying ECL Gross carrying ECL Gross carrying ECL Gross carrying ECL ECL allowances as of January 1, 2019 1,467,502 937 27,894 75 — — 1,495,396 1,012 Net change on ECL allowances * (321,373 ) (832 ) (6,339 ) (48 ) — — (327,712 ) (880 ) Transfer to Stage 1 16,405 26 (16,405 ) (26 ) — — — — Transfer to Stage 2 (126,709 ) (27 ) 126,709 27 — — — — Transfer to Stage 3 — — — — — — — — Impact on year-end ECL of exposures transferred between stages during the year ** — — — — — — — — Changes to models and assumptions — — — — — — — — Amounts written off — — — — — — — — Foreign exchange adjustments (17,274 ) (20 ) (10,219 ) (2 ) — — (27,493 ) (22 ) Total 1,018,551 84 121,640 26 — — 1,140,191 110 * Net change between assets originated and assets repaid, excluding write offs. ** Represents the change in the year-end ECLs of exposures that were transferred from one stage to another during the year. |
Loans to Customers at Amortiz_2
Loans to Customers at Amortized Cost (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |
Schedule of loans to customers, net | As of December 31, 2018 As of December 31, 2019 Assets Allowances Net assets Assets Allowances Net assets MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Commercial loans Commercial loans 11,496,591 (175,122 ) 11,321,469 12,144,720 (197,530 ) 11,947,190 Foreign trade loans 1,313,001 (12,922 ) 1,300,079 1,431,794 (12,306 ) 1,419,488 Current account debtors 222,218 (9,116 ) 213,102 265,762 (9,443 ) 256,319 Factoring transactions 701,005 (4,017 ) 696,988 688,198 (4,878 ) 683,320 Student loans 51,919 (1,441 ) 50,478 56,219 (2,442 ) 53,777 Commercial lease transactions (1) 1,571,999 (15,778 ) 1,556,221 1,619,772 (18,746 ) 1,601,026 Other loans and accounts receivable 81,665 (10,468 ) 71,197 87,747 (9,456 ) 78,291 Subtotal 15,438,398 (228,864 ) 15,209,534 16,294,212 (254,801 ) 16,039,411 Mortgage loans Mortgage bonds 21,443 (221 ) 21,222 14,808 (174 ) 14,634 Transferable mortgage loans 42,313 (226 ) 42,087 32,386 (157 ) 32,229 Other residential real estate mortgage loans 7,978,092 (33,875 ) 7,944,217 9,148,811 (43,363 ) 9,105,448 Credits from ANAP 6 ― 6 4 ― 4 Other loans and accounts receivable 10,219 (8 ) 10,211 10,718 (14 ) 10,704 Subtotal 8,052,073 (34,330 ) 8,017,743 9,206,727 (43,708 ) 9,163,019 Consumer loans Consumer loans in installments 2,957,493 (263,542 ) 2,693,951 3,039,560 (281,437 ) 2,758,123 Current account debtors 312,783 (12,868 ) 299,915 296,374 (14,450 ) 281,924 Credit card debtors 1,165,064 (45,254 ) 1,119,810 1,195,614 (54,304 ) 1,141,310 Consumer lease transactions (1) 9 ― 9 69 ― 69 Other loans and accounts receivable 812 (520 ) 292 716 (533 ) 183 Subtotal 4,436,161 (322,184 ) 4,113,977 4,532,333 (350,724 ) 4,181,609 Total 27,926,632 (585,378 ) 27,341,254 30,033,272 (649,233 ) 29,384,039 (1) In this item, the Bank finances its customers' purchases of assets, including real estate and other personal property, through financial lease agreements. As of December 31, 2019, Ch$779,682 million corresponds to financial leases for real estate (Ch$758,970 million in December 2018) and Ch$840,159 million corresponds to financial leases for other assets (Ch$813,038 million in December 2018). |
Schedule of changes in allowances for loan losses | Commercial Mortgage Consumer Total MCh$ MCh$ MCh$ MCh$ Balance as of January 1, 2018 221,410 33,777 314,451 569,638 Charge-offs (52,419 ) (6,993 ) (233,511 ) (292,923 ) Sales or transfers of credits (958 ) ― ― (958 ) Allowances (released) established, net 60,831 7,546 241,244 309,621 Balance as of December 31, 2018 228,864 34,330 322,184 585,378 Charge-offs (55,698 ) (7,790 ) (249,712 ) (313,200 ) Sales or transfers of credits ― ― ― ― Allowances (released) established, net 81,635 17,168 278,252 377,055 Balance as of December 31, 2019 254,801 43,708 350,724 649,233 |
Schedule of cash flows to be received from financial leasing contracts | Total receivable Unearned income Net lease receivable (*) 2018 2019 2018 2019 2018 2019 MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Due within one year 519,186 544,067 (60,216 ) (58,871 ) 458,970 485,196 Due after 1 year but within 2 years 383,164 392,832 (44,066 ) (42,302 ) 339,098 350,530 Due after 2 years but within 3 years 255,997 258,331 (28,740 ) (27,329 ) 227,257 231,002 Due after 3 years but within 4 years 162,310 163,847 (19,471 ) (18,361 ) 142,839 145,486 Due after 4 years but within 5 years 108,453 108,192 (13,992 ) (13,242 ) 94,461 94,950 Due after 5 years 336,705 335,695 (33,666 ) (30,313 ) 303,039 305,382 Total 1,765,815 1,802,964 (200,151 ) (190,418 ) 1,565,664 1,612,546 (*) The net balance receivable does not include the total overdue portfolio totaling Ch$6,344 million and Ch$7,295 million as of December 31, 2018 and 2019, respectively. This overdue portfolio only reflects the past due portion without considering the remaining outstanding principal and interest. |
Schedule of loans by industry sector | Location Chile Abroad Total 2018 2019 2018 2019 2018 2019 MCh$ MCh$ MCh$ MCh$ MCh$ % MCh$ % Commercial loans: Financial services 2,119,815 2,584,499 2,784 3,060 2,122,599 7.60 2,587,559 8.62 Services 2,109,143 2,267,433 348 436 2,109,491 7.55 2,267,869 7.55 Construction 1,752,237 2,142,699 ― ― 1,752,237 6.27 2,142,699 7.13 Commerce 2,285,895 2,055,183 38,430 11,189 2,324,325 8.32 2,066,372 6.88 Manufacturing 1,544,862 1,624,972 34,613 ― 1,579,475 5.66 1,624,972 5.41 Agriculture and livestock 1,582,520 1,623,465 ― ― 1,582,520 5.67 1,623,465 5.41 Transportation and telecommunications 1,480,773 1,234,087 17,369 ― 1,498,142 5.37 1,234,087 4.11 Mining 453,549 604,660 ― ― 453,549 1.62 604,660 2.01 Electricity, gas and water 461,351 325,143 ― ― 461,351 1.65 325,143 1.08 Fishing 156,472 140,709 ― ― 156,472 0.56 140,709 0.47 Other 1,398,237 1,676,677 ― ― 1,398,237 5.01 1,676,677 5.58 Subtotal 15,344,854 16,279,527 93,544 14,685 15,438,398 55.28 16,294,212 54.25 Residential mortgage loans 8,052,073 9,206,727 ― ― 8,052,073 28.83 9.206.727 30.66 Consumer loans 4,436,161 4,532,333 ― ― 4,436,161 15.89 4,532,333 15.09 Total 27,833,088 30,018,587 93,544 14,685 27,926,632 100.00 30,033,272 100.00 |
Schedule of sale or transfer of loan portfolio | As of December 31, 2017 Carrying Allowances Sale price Effect on income MCh$ MCh$ MCh$ MCh$ Sale of outstanding loans 33,681 (11,595 ) 24,126 2,040 Sale of write-off loans — — 23 23 Total 33,681 (11,595 ) 24,149 2,063 As of December 31, 2018 Carrying Allowances Sale price Effect on income MCh$ MCh$ MCh$ MCh$ Sale of outstanding loans 22,567 (958 ) 21,876 267 Sale of write-off loans — — — — Total 22,567 (958 ) 21,876 267 As of December 31, 2019 Carrying Allowances Sale price Effect on income MCh$ MCh$ MCh$ MCh$ Sale of outstanding loans 12,420 — 12,420 — Sale of write-off loans — — — — Total 12,420 — 12,420 — |
Loans to customers | |
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |
Schedule of credit quality and the maximum exposure to credit risk | 2018 Stage 1 Stage 2 Stage 3 Individual Group Individual Group Individual Group POCI Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Commercial loans Normal 9,426,420 3,049,264 2,039,954 447,225 - 6,702 - 14,969,565 Substandard - - 94,894 - - - - 94,894 Non-complying - - - 13,026 120,564 239,734 615 373,939 Subtotal 9,426,420 3,049,264 2,134,848 460,251 120,564 246,436 615 15,438,398 Mortgage loans Normal - 6,893,619 - 993,085 - 513 - 7,887,217 Non-complying - - - - - 164,856 - 164,856 Subtotal - 6,893,619 - 993,085 - 165,369 - 8,052,073 Consumer loans Normal - 3,166,290 - 975,898 - 24,579 - 4,166,767 Non-complying - - - - - 269,394 - 269,394 Subtotal - 3,166,290 - 975,898 - 293,973 - 4,436,161 Total 9,426,420 13,109,173 2,134,848 2,429,234 120,564 705,778 615 27,926,632 2019 Stage 1 Stage 2 Stage 3 Individual Group Individual Group Individual Group POCI Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Commercial loans Normal 9,880,799 3,369,494 1,987,763 561,831 - 779 - 15,800,666 Substandard - - 71,718 - - - - 71,718 Non-complying - - - - 152,972 267,220 1,636 421,828 Subtotal 9,880,799 3,369,494 2,059,481 561,831 152,972 267,999 1,636 16,294,212 Mortgage loans Normal - 8,209,100 - 822,524 - - - 9,031,624 Non-complying - - - - - 175,103 - 175,103 Subtotal - 8,209,100 - 822,524 - 175,103 - 9,206,727 Consumer loans Normal - 3,860,973 - 372,814 - 7,555 - 4,241,342 Non-complying - - - - - 290,903 88 290,991 Subtotal - 3,860,973 - 372,814 - 298,458 88 4,532,333 Total 9,880,799 15,439,567 2,059,481 1,757,169 152,972 741,560 1,724 30,033,272 |
Schedule of change in gross carrying amount and ECL allowances | Changes as of December 31, 2018 Stage 1 Stage 2 Stage 3 POCI Total Individual Group Individual Group Individual Group Gross ECL Gross ECL Gross ECL Gross ECL Gross ECL Gross ECL Gross ECL Gross ECL Commercial loans Balance as of January 1, 2018 8,446,627 16,527 2,506,255 16,663 2,228,401 31,252 408,337 20,247 162,231 50,014 208,944 86,701 23 6 13,960,818 221,410 Net change on Balance * 968,288 9,424 780,778 12,463 (254,542 ) (5,045 ) (105,114 ) (18,338 ) (81,058 ) (18,715 ) (4,607 ) 31,406 592 293 1,304,337 11,488 Transfer to Stage 1 681,223 4,114 375,672 14,807 (680,838 ) (3,981 ) (346,936 ) (6,387 ) (385 ) (133 ) (28,736 ) (8,420 ) - - - - Transfer to Stage 2 (811,209 ) (2,600 ) (602,997 ) (11,606 ) 822,133 8,805 630,963 15,817 (10,924 ) (6,205 ) (27,966 ) (4,211 ) - - - - Transfer to Stage 3 (15,175 ) (70 ) (16,665 ) (1,189 ) (32,569 ) (4,134 ) (127,676 ) (13,572 ) 47,744 4,204 144,341 14,761 - - - - Impact on year-end ECL of exposures transferred between stages during the year** - (2,702 ) - (9,589 ) - 4,512 - 23,822 - 5,505 - 21,568 - - - 43,116 Amounts written off (150 ) (150 ) (67 ) (67 ) (11 ) (11 ) (468 ) (468 ) (5,422 ) (5,422 ) (46,301 ) (46,301 ) - - (52,419 ) (52,419 ) Foreign exchange adjustments 156,816 337 6,288 112 52,274 945 1,145 46 8,378 3,446 761 383 - - 225,662 5,269 Subtotal Commercial loans 9,426,420 24,880 3,049,264 21,594 2,134,848 32,343 460,251 21,167 120,564 32,694 246,436 95,887 615 299 15,438,398 228,864 Mortgage loans Balance as of January 1, 2018 - - 6,410,939 740 - - 904,826 17,351 - - 161,471 15,686 - - 7,477,236 33,777 Net change on Balance * - - 734,990 299 - - (115,034 ) (8,772 ) - - (38,126 ) 4,417 - - 581,830 (4,056 ) Transfer to Stage 1 - - 399,309 892 - - (397,363 ) (758 ) - - (1,946 ) (134 ) - - - - Transfer to Stage 2 - - (651,619 ) (404 ) - - 671,775 2,112 - - (20,156 ) (1,708 ) - - - - Transfer to Stage 3 - - - - - - (71,113 ) (2,693 ) - - 71,113 2,693 - - - - Impact on year-end ECL of exposures transferred between stages during the year** - - - (803 ) - - - 9,661 - - - 2,744 - - - 11,602 Amounts written off - - - - - - (6 ) (6 ) - - (6,987 ) (6,987 ) - - (6,993 ) (6,993 ) Foreign exchange adjustments - - - - - - - - - - - - - - - - Subtotal Mortgage loans - - 6,893,619 724 - - 993,085 16,895 - - 165,369 16,711 - - 8,052,073 34,330 Consumer loans Balance as of January 1, 2018 - - 2,761,640 44,078 - - 967,918 115,096 - - 283,901 155,277 - - 4,013,459 314,451 Net change on Balance * - - 1,007,548 40,305 - - (416,546 ) (91,527 ) - - 60,645 119,321 - - 651,647 68,099 Transfer to Stage 1 - - 381,126 26,682 - - (335,330 ) (9,604 ) - - (45,796 ) (17,078 ) - - - - Transfer to Stage 2 - - (978,112 ) (44,301 ) - - 1,040,597 68,448 - - (62,485 ) (24,147 ) - - - - Transfer to Stage 3 - - (9,340 ) (2,024 ) - - (281,144 ) (72,629 ) - - 290,484 74,653 - - - - Impact on year-end ECL of exposures transferred between stages during the year** - - - (15,379 ) - - - 101,086 - - - 87,371 - - - 173,078 Amounts written off - - (104 ) (104 ) - - (627 ) (627 ) - - (232,780 ) (232,780 ) - - (233,511 ) (233,511 ) Foreign exchange adjustments - - 3,532 16 - - 1,030 49 - - 4 2 - - 4,566 67 Subtotal Consumer loans - - 3,166,290 49,273 - - 975,898 110,292 - - 293,973 162,619 - - 4,436,161 322,184 Total 9,426,420 24,880 13,109,173 71,591 2,134,848 32,343 2,429,234 148,354 120,564 32,694 705,778 275,217 615 299 27,926,632 585,378 * Net change between assets originated and assets repaid, excluding write offs. ** Represents the change in the year-end ECLs of exposures that were transferred from one stage to another during the year. Changes as of December 31, 2019 Stage 1 Stage 2 Stage 3 POCI Total Individual Group Individual Group Individual Group Gross ECL Gross ECL Gross ECL Gross ECL Gross ECL Gross ECL Gross ECL Gross ECL Commercial loans Balance as of January 1, 2019 9,426,420 24,880 3,049,264 21,594 2,134,848 32,343 460,251 21,167 120,564 32,694 246,436 95,887 615 299 15,438,398 228,864 Net change on Balance * 861,027 (14,709 ) 452,929 3,915 (231,267 ) (3,240 ) 57,965 5,054 (9,953 ) 7,859 (13,173 ) 36,913 1,027 (13 ) 1,118,555 35,779 Transfer to Stage 1 873,349 9,699 1,005,072 49,310 (873,232 ) (9,606 ) (1,002,422 ) (48,694 ) (117 ) (93 ) (2,650 ) (616 ) - - - - Transfer to Stage 2 (1,120,580 ) (4,449 ) (1,118,008 ) (19,312 ) 1,130,960 7,184 1,168,875 28,065 (10,380 ) (2,734 ) (50,867 ) (8,754 ) - - - - Transfer to Stage 3 (2,593 ) (99 ) (13,769 ) (1,050 ) (65,157 ) (10,055 ) (121,315 ) (12,628 ) 67,750 10,153 135,084 13,679 - - - - Impact on year-end ECL of exposures transferred between stages during the year** - (7,346 ) - (36,508 ) - 7,092 - 39,878 - 9,378 - 16,666 - - - 29,160 Changes to models and assumptions - 944 - (82 ) - 18,860 - (861 ) - - - (470 ) - (5 ) - 18,386 Amounts written off - - (55 ) (55 ) (65 ) (65 ) (371 ) (371 ) (8,587 ) (8,587 ) (46,614 ) (46,614 ) (6 ) (6 ) (55,698 ) (55,698 ) Foreign exchange adjustments (156,824 ) 25 (5,939 ) (69 ) (36,606 ) (107 ) (1,152 ) (83 ) (6,305 ) (1,374 ) (217 ) (82 ) - - (207,043 ) (1,690 ) Subtotal Commercial loans 9,880,799 8,945 3,369,494 17,743 2,059,481 42,406 561,831 31,527 152,972 47,296 267,999 106,609 1,636 275 16,294,212 254,801 Mortgage loans Balance as of January 1, 2019 - - 6,893,619 724 - - 993,085 16,895 - - 165,369 16,711 - - 8,052,073 34,330 Net change on Balance * - - 1,312,226 739 - - (117,481 ) 6,768 - - (32,301 ) 552 - - 1,162,444 8,059 Transfer to Stage 1 - - 1,516,595 16,318 - - (1,516,155 ) (16,281 ) - - (440 ) (37 ) - - - - Transfer to Stage 2 - - (1,513,235 ) (742 ) - - 1,532,523 2,239 - - (19,288 ) (1,497 ) - - - - Transfer to Stage 3 - - (105 ) - - - (69,448 ) (2,770 ) - - 69,553 2,770 - - - - Impact on year-end ECL of exposures transferred between stages during the year** - - - (15,913 ) - - - 19,262 - - - 2,225 - - - 5,574 Changes to models and assumptions - - - 285 - - - 3,250 - - - - - - - 3,535 Amounts written off - - - - - - - - - (7,790 ) (7,790 ) - - (7,790 ) (7,790 ) Foreign exchange adjustments - - - - - - - - - - - - - - - Subtotal Mortgage loans - - 8,209,100 1,411 - - 822,524 29,363 - - 175,103 12,934 - - 9,206,727 43,708 Consumer loans Balance as of January 1, 2019 - - 3,166,290 49,273 - - 975,898 110,292 - - 293,973 162,619 - - 4,436,161 322,184 Net change on Balance * - - 493,973 60,685 - - (212,059 ) (48,295 ) - - 67,033 139,704 88 44 349,035 152,138 Transfer to Stage 1 - - 1,688,787 243,865 - - (1,679,389 ) (240,444 ) - - (9,398 ) (3,421 ) - - - - Transfer to Stage 2 - - (1,472,886 ) (90,968 ) - - 1,588,909 129,954 - - (116,023 ) (38,986 ) - - - - Transfer to Stage 3 - - (12,204 ) (2,646 ) - - (299,286 ) (78,223 ) - - 311,490 80,869 - - - - Impact on year-end ECL of exposures transferred between stages during the year** - - - (161,427 ) - - - 203,042 - - - 84,786 - - - 126,401 Changes to models and assumptions - - - - - - - - - - - - - - - - Amounts written off - - (120 ) (120 ) - - (978 ) (978 ) - - (248,614 ) (248,614 ) - - (249,712 ) (249,712 ) Foreign exchange adjustments - - (2,867 ) (126 ) - - (281 ) (113 ) - - (3 ) (48 ) - - (3,151 ) (287 ) Subtotal Consumer loans - - 3,860,973 98,536 - - 372,814 75,235 - - 298,458 176,909 88 44 4,532,333 350,724 Total 9,880,799 8,945 15,439,567 117,690 2,059,481 42,406 1,757,169 136,125 152,972 47,296 741,560 296,452 1,724 319 30,033,272 649,233 * Net change between assets originated and assets repaid, excluding write offs. ** Represents the change in the year-end ECLs of exposures that were transferred from one stage to another during the year. |
Financial Assets at Fair Valu_2
Financial Assets at Fair Value through Other Comprehensive Income (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Available-for-sale financial assets [abstract] | |
Schedule of financial assets | 2018 2019 MCh$ MCh$ Debt instruments at fair value through OCI 1,043,440 1,357,846 Equity instruments valued at fair value through OCI 9,751 8,497 Total 1,053,191 1,366,343 |
Schedule of breakdown of the balance under the heading "Debt instruments at fair value through OCI | 2018 2019 MCh$ MCh$ Instruments issued by the Chilean Government and Central Bank: Bonds issued by the Chilean Government and Central Bank 135,145 76,358 Promissory notes issued by the Chilean Government and Central Bank — 16,466 Other instruments 29,077 16,238 Other instruments issued in Chile: Mortgage bonds from domestic banks 92,491 122,291 Bonds from domestic banks 5,351 15,927 Deposits from domestic banks 559,108 1,020,842 Bonds from other Chilean companies 6,599 1,395 Other instruments 107,125 68,476 Instruments issued by foreign institutions: Other instruments 108,544 19,853 Total 1,043,440 1,357,846 |
Schedule of credit ratings of the issuers of debt instruments | As of December 31, 2018 As of December 31, 2019 Stage 1 Individual Stage 2 Individual Stage 3 Individual Total Individual Stage 1 Individual Stage 2 Individual Stage 3 Individual Total Individual MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Debt Instrument Investment grade 827,770 — — 827,770 1,269,516 — — 1,269,516 Non-investment grade — — — — — — — — Without rating 215,670 — — 215,670 88,330 — — 88,330 Total 1,043,440 — — 1,043,440 1,357,846 — — 1,357,846 |
Schedule of changes in the corresponding ECLs of debt instrument | Stage 1 Individual Stage 2 Individual Stage 3 Individual Total Fair value MCh$ ECL MCh$ Fair value MCh$ ECL MCh$ Fair value MCh$ ECL MCh$ Fair value MCh$ ECL MCh$ Balance as of January 1, 2018 1,516,063 5,820 — — — — 1,516,063 5,820 Net change on Balance * (515,343 ) (1,978 ) — — — — (515,343 ) (1,978 ) Change in fair value 14,162 — — — — — 14,162 — Transfer to Stage 1 — — — — — — — — Transfer to Stage 2 — — — — — — — — Transfer to Stage 3 — — — — — — — — Impact on year-end ECL of exposures transferred between stages during the year ** — — — — — — — — Impact of net re-measurement of year-end ECL — 258 — — — — — 258 Amounts written off — — — — — — — — Foreign exchange adjustments 28,558 168 — — — — 28,558 168 Balance as of December 31, 2018 1,043,440 4,268 — — — — 1,043,440 4,268 Balance as of January 1, 2019 1,043,440 4,268 — — — — 1,043,440 4,268 Net change on Balance * 275,797 327 (19 ) (1 ) — — 275,778 326 Change in fair value 32,995 — — — — — 32,995 — Transfer to Stage 1 — — — — — — — — Transfer to Stage 2 (19 ) (1 ) 19 1 — — — — Transfer to Stage 3 — — — — — — — — Impact on year-end ECL of exposures transferred between stages during the year ** — — — — — — — — Impact of net re-measurement of year-end ECL — 3,102 — — — — — 3,102 Amounts written off — — — — — — — — Foreign exchange adjustments 5,633 40 — — — — 5,633 40 Balance as of December 31, 2019 1,357,846 7,736 — — — — 1,357,846 7,736 * Net change between assets purchased and assets derecognized, excluding write offs. ** Represents the change in the year-end ECLs of exposures that were transferred from one stage to another during the year. |
Schedule of breakdown of the balance under the heading "Equity instruments at fair value through OCI" | 2018 2019 MCh$ MCh$ Equity instruments issued in Chile 8,939 7,446 Equity instruments issued by foreign institutions 812 1,051 Total 9,751 8,497 |
Schedule of unrealised gain and loss on available for sale investments | 2017 2018 2019 MCh$ MCh$ MCh$ Net gain (loss) on financial assets before income tax (1) 4,775 (13,878 ) 15,969 Tax (expense) benefit (1,299 ) 3,757 (4,328 ) Net of tax amount (2) 3,476 (10,121 ) 11,641 (1) As of December 31, 2017, 2018 and 2019, realized gains reclassified to the income statement line item "Net financial operating income" amounted to Ch$5,149 million, Ch$400 million and Ch$4,716 million, respectively. (2) This amount corresponds to the unrealized gain or loss, net of deferred tax and which are included in "Consolidated Statement of Changes in Equity". |
Investments in Other Companies
Investments in Other Companies (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Investments in subsidiaries, joint ventures and associates [abstract] | |
Schedule of investments in other companies | Investment Ownership Interest Equity Assets Income 2018 2019 2018 2019 2018 2019 2017 2018 2019 Company Shareholder % % MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Associates Transbank S.A. Banco de Chile 26.16 26.16 69,358 82,667 18,468 21,973 2,117 3,262 3,505 Sociedad Operadora de Tarjetas de Crédito Nexus S.A. (*) Banco de Chile 25.81 29.63 16,805 17,675 4,557 5,238 884 735 5 Administrador Financiero del Transantiago S.A. Banco de Chile 20.00 20.00 17,978 19,174 3,680 3,985 317 582 390 Redbanc S.A. Banco de Chile 38.13 38.13 8,356 9,221 3,219 3,549 403 325 330 Centro de Compensación Automatizado S.A. Banco de Chile 33.33 33.33 5,592 6,464 1,894 2,184 236 305 294 Servicios de Infraestructura de Mercado OTC S.A. Banco de Chile 12.33 12.33 11,952 12,470 1,474 1,538 66 56 59 Sociedad Interbancaria de Depósitos de Valores S.A. Banco de Chile 26.81 26.81 4,161 4,811 1,129 1,359 215 204 231 Sociedad Operadora de la Cámara de Compensación de Pagos de Alto Valor S.A. Banco de Chile 15.00 15.00 6,106 6,290 944 958 66 58 29 Subtotal 140,308 158,772 35,365 40,784 4,304 5,527 4,843 Joint Venture Servipag Ltda. Banco de Chile 50.00 50.00 11,398 12,292 5,699 6,271 700 701 572 Artikos Chile S.A. Banco de Chile 50.00 50.00 2,025 2,399 1,188 1,387 507 583 624 Subtotal 13,423 14,691 6,887 7,658 1,207 1,284 1,196 Total 153,731 173,463 42,252 48,442 5,511 6,811 6,039 (*) During the year 2019, Banco de Chile increased its percentage of ownership interest through the purchase of 159,152 shares. |
Schedule of total carrying amount of the Bank's associates | 2018 Associate’s statement of financial position Centro de Sociedad Sociedad Sociedad Interbancaria Redbanc Transbank Administrador Servicios de Infraestructura de Mercado OTC S.A. Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Current assets 3,088 5,871 12,918 153 6,084 818,587 55,406 18,842 920,949 Non-current assets 3,985 857 22,221 4,239 14,741 85,971 412 6,431 138,857 Total Assets 7,073 6,728 35,139 4,392 20,825 904,558 55,818 25,273 1,059,806 Current liabilities 1,321 622 14,179 231 9,907 833,788 36,676 10,111 906,835 Non-current liabilities 160 — 4,155 — 2,562 1,412 1,164 3,201 12,654 Total Liabilities 1,481 622 18,334 231 12,469 835,200 37,840 13,312 919,489 Equity 5,592 6,106 16,805 4,161 8,356 69,358 17,978 11,952 140,308 Minority interest — — — — — — — 9 9 Total Liabilities and Equity 7,073 6,728 35,139 4,392 20,825 904,558 55,818 25,273 1,059,806 Associate’s revenue and profit Operating income 3,214 3,302 50,319 1 35,314 191,568 3,435 6,254 293,407 Operating expenses (2,005 ) (3,016 ) (46,426 ) (35 ) (33,895 ) (177,440 ) (2,615 ) (5,567 ) (270,999 ) Other income (expenses) (25 ) 177 (173 ) 796 (260 ) 2,380 2,982 59 5,936 Income (loss) before taxes 1,184 463 3,720 762 1,159 16,508 3,802 746 28,344 Income tax (268 ) (79 ) (870 ) - (308 ) (4,038 ) (894 ) (292 ) (6,749 ) Net income for the year 916 384 2,850 762 851 12,470 2,908 454 21,595 2019 Associate’s statement of financial position Centro de Sociedad Operadora de la Cámara de Sociedad Operadora de Sociedad Interbancaria Redbanc Transbank Administrador Servicios de Infraestructura de Mercado OTC S.A. Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Current assets 5,087 6,019 9,586 113 7,047 1,118,388 54,120 21,585 1,221,945 Non-current assets 3,463 1,353 21,561 4,961 16,366 99,060 592 8,216 155,572 Total Assets 8,550 7,372 31,147 5,074 23,413 1,217,448 54,712 29,801 1,377,517 Current liabilities 1,947 769 7,951 263 7,688 1,130,800 34,234 16,789 1,200,441 Non-current liabilities 139 313 5,521 — 6,504 3,981 1,304 533 18,295 Total Liabilities 2,086 1,082 13,472 263 14,192 1,134,781 35,538 17,322 1,218,736 Equity 6,464 6,290 17,675 4,811 9,221 82,667 19,174 12,470 158,772 Minority interest — — — — — — — 9 9 Total Liabilities and Equity 8,550 7,372 31,147 5,074 23,413 1,217,448 54,712 29,801 1,377,517 Associate’s revenue and profit Operating income 3,384 3,386 49,944 15 38,024 222,912 3,707 6,291 327,663 Operating expenses (2,229 ) (3,348 ) (49,699 ) (57 ) (36,693 ) (133,128 ) (2,224 ) (5,725 ) (233,103 ) Other income (expenses) (13 ) 159 (304 ) 903 (195 ) (72,143 ) 979 179 (70,435 ) Gain before tax 1,142 197 (59 ) 861 1,136 17,641 2,462 745 24,125 Income tax (261 ) (4 ) 75 — (270 ) (4,239 ) (514 ) (267 ) (5,480 ) Gain for the year 881 193 16 861 866 13,402 1,948 478 18,645 |
Schedule of financial information of entities controls jointly | Artikos Chile S.A. Servipag Ltda. 2018 2019 2018 2019 MCh$ MCh$ MCh$ MCh$ Current assets 1,397 1,701 59,142 74,748 Non-current assets 1,503 1,944 15,371 18,005 Total Assets 2,900 3,645 74,513 92,753 Current liabilities 875 1,083 57,847 74,745 Non-current liabilities — 163 5,268 5,716 Total Liabilities 875 1,246 63,115 80,461 Equity 2,025 2,399 11,398 12,292 Total Liabilities and Equity 2,900 3,645 74,513 92,753 Operating income 3,544 3,643 42,679 43,259 Operating expenses (2,519 ) (2,452 ) (40,318 ) (41,708 ) Other income (expenses) 12 11 (339 ) (315 ) Profit before tax 1,037 1,202 2,022 1,236 Income tax 130 46 (621 ) (343 ) Profit for the year 1,167 1,248 1,401 893 |
Schedule of reconciliation of investments in other companies that are not consolidated | 2017 2018 2019 MCh$ MCh$ MCh$ Balance as of January 1, 30,314 35,771 42,252 Capital increase ― ― 671 Participation in net income 5,511 6,811 6,039 Dividends received (484 ) (411 ) (552 ) Other 430 81 32 Balance as of December 31, 35,771 42,252 48,442 |
Intangible Assets (Tables)
Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Intangible assets and goodwill [abstract] | |
Schedule of intangible assets | Useful Life Average remaining Gross balance Accumulated Net balance 2018 2019 2018 2019 2018 2019 2018 2019 2018 2019 Years Years Years Years MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Other Intangible Assets: Goodwill ― ― ― ― 16,714 16,714 ― ― 16,714 16,714 Intangible assets arising from business combinations ― ― ― ― 56,249 56,249 (39,553 ) (39,553 ) 16,696 16,696 Software or computer programs 6 6 5 5 144,968 163,511 (92,907 ) (105,204 ) 52,061 58,307 Total 217,931 236,474 (132,460 ) (144,757 ) 85,471 91,717 |
Schedule of changes in intangible assets | Goodwill (1) Intangible assets arising (2) Software or Total MCh$ MCh$ MCh$ MCh$ Gross Balance Balance as of January 1, 2018 16,714 56,249 122,480 195,443 Acquisitions ― ― 23,512 23,512 Disposals ― ― (1,024 ) (1,024 ) Impairment loss ― ― ― ― Balance as of December 31, 2018 16,714 56,249 144,968 217,931 Acquisitions ― ― 20,928 20,928 Disposals ― ― (1,759 ) (1,759 ) Reclassification ― ― (276 ) (276 ) Impairment loss ― ― (350 ) (350 ) Balance as of December 31, 2019 16,714 56,249 163,511 236,474 Accumulated Amortization Balance as of January 1, 2018 ― (39,553 ) (83,435 ) (122,988 ) Amortization for the year ― ― (10,496 ) (10,496 ) Disposals ― ― 1,024 1,024 Balance as of December 31, 2018 ― (39,553 ) (92,907 ) (132,460 ) Amortization for the year ― ― (12,875 ) (12,875 ) Disposals ― ― 316 316 Reclassification ― ― 262 262 Balance as of December 31, 2019 ― (39,553 ) (105,204 ) (144,757 ) Net balance as of December 31, 2018 16,714 16,696 52,061 85,471 Net balance as of December 31, 2019 16,714 16,696 58,307 91,717 (1) Goodwill corresponds mainly to business combination with Citibank Chile whose amount is of MCh$12,576 that represents the value of synergies to be generated in the combination process and the acquisition of know-how. (2) Intangible assets arising from business combinations include assets with indefinite useful lives acquired in the business combination with Citibank Chile. |
Schedule of commitments for technological developments | Amount of Commitment 2018 2019 MCh$ MCh$ Software and licenses 11,806 7,151 |
Schedule of goodwill allocated to individual business segments | 2018 2019 Business Segments MCh$ MCh$ Retail 5,928 5,928 Wholesale 2,135 2,135 Treasury and money market operations 4,513 4,513 Subsidiaries 4,138 4,138 Total 16,714 16,714 |
Property and Equipment and Le_2
Property and Equipment and Leased Assets and Lease Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of detailed information about property, plant and equipment [abstract] | |
Schedule of properties and equipment | Useful Life Average remaining Gross balance Accumulated Net balance 2018 2019 2018 2019 2018 2019 2018 2019 2018 2019 Years Years Years Years MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Type of property and equipment: Land and Buildings 26 26 21 21 320,585 301,619 (150,099 ) (136,394 ) 170,486 165,225 Equipment 5 5 3 4 183,220 207,605 (148,455 ) (162,560 ) 34,765 45,045 Others 7 7 4 4 53,500 55,519 (42,879 ) (45,527 ) 10,621 9,992 Total 557,305 564,743 (341,433 ) (344,481 ) 215,872 220,262 |
Schedule of changes in property and equipment | Land and Equipment Other Total MCh$ MCh$ MCh$ MCh$ (a.1) Cost Balance as of January 1, 2018 311,428 184,369 52,552 548,349 Reclassification — — — — Additions 12,589 12,702 2,774 28,065 Disposals/write-downs/sales (3,145 ) (13,845 ) (1,785 ) (18,775 ) Impairment loss (*) (287 ) (6 ) (41 ) (334 ) Balance as of December 31, 2018 320,585 183,220 53,500 557,305 Balance as of January 1, 2019 320,585 183,220 53,500 557,305 Reclassification (25,654 ) (37 ) — (25,691 ) Additions 12,555 28,118 2,839 43,512 Disposals/write-downs/sales (5,437 ) (3,115 ) (762 ) (9,314 ) Impairment loss (*) (***) (430 ) (581 ) (58 ) (1,069 ) Balance as of December 31, 2019 301,619 207,605 55,519 564,743 (a.2) Accumulated Depreciation Balance as of January 1, 2018 (142,768 ) (148,006 ) (41,316 ) (332,090 ) Depreciation charges of the year (*) (**) (9,193 ) (14,291 ) (3,333 ) (26,817 ) Sales and disposals of the year 1,862 13,842 1,770 17,474 Accumulated Depreciation as of December 31, 2018 (150,099 ) (148,455 ) (42,879 ) (341,433 ) Balance as of January 1, 2019 (150,099 ) (148,455 ) (42,879 ) (341,433 ) Reclassification 21,278 37 — 21,315 Depreciation charges of the year (*) (**) (8,613 ) (16,819 ) (3,403 ) (28,835 ) Sales and disposals of the year 1,040 2,692 740 4,472 Transfers — (15 ) 15 — Accumulated Depreciation as of December 31, 2019 (136,394 ) (162,560 ) (45,527 ) (344,481 ) (*) See Note No. 36 about Depreciation, Amortization and Impairment. (**) It does not include depreciation for the year for Investment Properties, which it registered under the item “Investment Properties” for an amount of Ch$359 million (Ch$368 million in 2018). (***) It does not include charge-off provisions for Property and Equipment for an amount of Ch$949 million. |
Schedule of rights over leased assets | Gross Balance Accumulated Net Balance Categories 2019 2019 2019 MCh$ MCh$ MCh$ Buildings 130,853 (18,722 ) 112,131 Floor space for ATMs 41,960 (9,091 ) 32,869 Improvements to leased properties 27,254 (21,589 ) 5,665 Total 200,067 (49,402 ) 150,665 |
Schedule of changes of rights over leased assets | 2019 Buildings Floor space Improvements to Total MCh$ MCh$ MCh$ MCh$ Gross Balance Balance as of January 1, 2019 116,577 27,920 — 144,497 Reclassification — — 26,332 26,332 Additions 14,276 14,040 1,725 30,041 Write-downs — — (803 ) (803 ) Total 130,853 41,960 27,254 200,067 Accumulated Depreciation Balance as of January 1, 2019 — — — — Reclassification — — (21,546 ) (21,546 ) Depreciation of the year (*) (18,722 ) (9,091 ) (659 ) (28,472 ) Write-downs — — 616 616 Total (18,722 ) (9,091 ) (21,589 ) (49,402 ) Balance as of December 31, 2019 112,131 32,869 5,665 150,665 (*) See Note No.36 Depreciation, Amortization and Impairment. |
Schedule of future maturities of lease liabilities | Up to 1 Over 1 Over 3 Over 1 Over 3 Over 5 Total Lease associated with: MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Buildings 1,726 3,519 15,286 37,063 24,899 38,526 121,019 ATMs 809 1,618 7,131 18,125 5,403 679 33,765 Total 2,535 5,137 22,417 55,188 30,302 39,205 154,784 |
Schedule of changes of obligations under capitalized leases | Total cash flow Lease liability MCh$ Balances as of January 1, 2019 144,497 Liabilities for new lease agreements 24,431 Interest expenses 2,574 Payments of capital and interests (29,374 ) Others 3,885 Balances as of December 31, 2019 146,013 |
Investment Properties (Tables)
Investment Properties (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of detailed information about investment property [abstract] | |
Schedule of investment properties | 2017 2018 2019 MCh$ MCh$ MCh$ Net Balance as of January 1, 14,674 14,306 13,938 Additions resulting from business combinations ― ― ― Reclassifications ― ― (389 ) Disposals ― ― ― Depreciation charges in the period (368 ) (368 ) (359 ) Impairment ― ― ― Net Balance as of December 31, 14,306 13,938 13,190 |
Current Taxes and Deferred Ta_2
Current Taxes and Deferred Taxes (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Major components of tax expense (income) [abstract] | |
Schedule of total tax receivable | 2018 2019 MCh$ MCh$ Income taxes 134,781 222,266 Less: Monthly prepaid taxes (PPM) (126,917 ) (143,200 ) Credit for training expenses (2,224 ) (1,900 ) Other (1,410 ) (1,234 ) Total tax (receivable) payable, net 4,230 75,932 2018 2019 MCh$ MCh$ Current tax assets 677 357 Current tax liabilities (4,907 ) (76,289 ) Total tax receivable (payable), net (4,230 ) (75,932 ) |
Schedule of income tax expenses | 2017 2018 2019 MCh$ MCh$ MCh$ Income tax expense: Current year taxes 105,024 143,136 232,404 Tax from previous period (1,401 ) 2,574 (331 ) Subtotal 103,623 145,710 232,073 (Credit) charge for deferred taxes: Origin and reversal of temporary differences 20,043 11,435 (58,733 ) Effect of changes in tax rate (5,729 ) ― ― Subtotal 14,314 11,435 (58,733 ) Other (2,576 ) 2,623 321 Net charge to income for income taxes 115,361 159,768 173,661 Tax Rate 25.50 % 27.00 % 27.00 % |
Schedule of reconciliation of effective tax rate | 2017 2018 2019 Tax rate % MCh$ Tax rate % MCh$ Tax rate % MCh$ Income tax calculated on net income before tax 25.50 175,298 27.00 206,116 27.00 209,901 Subordinated Debt Payment (*) (5.67 ) (38,997 ) (3.21 ) (24,515 ) ― ― Additions or deductions (**) (2.88 ) (19,794 ) (4.18 ) (31,894 ) (5.10 ) (39,612 ) Effect of changes in tax rate (0.83 ) (5,729 ) ― ― ― ― Other 0.67 4,583 1.32 10,061 0.43 3,372 Effective rate and income tax expense 16.79 115,361 20.93 159,768 22.34 173,661 (*) The tax expense related to the subordinated debt held by SAOS S.A, it ended during the current fiscal year, as a result of the generation of sufficient resources to pay off the total debt. (**) The deductions of the tax rate for 2017, 2018 and 2019 mainly relate to permanent differences between tax and financial accounting rules. |
Schedule of effect of deferred taxes on income and equity | Balance as of Effect Balance as of Effect Balance as of January 1, 2018 Income Equity December 31, Income Equity December 31, MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Debit differences: Allowances for loan losses 138,643 3,232 ― 141,875 9,606 ― 151,481 Personnel provisions 12,521 756 ― 13,277 3,720 ― 16,997 Staff vacations 6,908 333 ― 7,241 203 ― 7,444 Accrued interest and indexation adjustments from past due loans 3,414 (182 ) ― 3,232 442 ― 3,674 Staff severance indemnities provision 1,457 (8 ) 35 1,484 (59 ) 66 1,491 Provisions of credit card expenses 8,955 858 ― 9,813 (1,592 ) ― 8,221 Provisions of accrued expenses 16,358 (9,450 ) ― 6,908 3,656 ― 10,564 Derivative instruments adjustments ― 1,356 ― 1,356 114 ― 1,470 Adjustment for valuation and impairment of financial assets at fair value through OCI ― (419 ) 1,365 946 ― (946 ) ― Leasing 32,549 669 ― 33,218 8,574 ― 41,792 Other adjustments 6,246 (5,233 ) 1 1,014 35,510 (1 ) 36,523 Total debit differences 227,051 (8,088 ) 1,401 220,364 60,174 (881 ) 279,657 Credit differences: Depreciation of property and equipment and investment properties 14,281 709 ― 14,990 534 ― 15,524 Adjustment for valuation and impairment of financial assets at fair value through OCI 2,392 ― (2,392 ) ― (937 ) 3,382 2,445 Transitory assets 5,486 28 ― 5,514 2,815 ― 8,329 Derivative instruments adjustments 4,378 (4,378 ) ― ― ― ― ― Accrued interest to effective rate 1,603 (39 ) ― 1,564 (183 ) ― 1,381 Advance payment of lump-sum under union contracts ― 6,699 ― 6,699 (3,365 ) ― 3,334 Intangible assets amortization 5,503 ― ― 5,503 ― ― 5,503 Other adjustments 8,943 328 ― 9,271 2,577 ― 11,848 Total credit differences 42,586 3,347 (2,392 ) 43,541 1,441 3,382 48,364 Total Assets (Liabilities), net 184,465 (11,435 ) 3,793 176,823 58,733 (4,263 ) 231,293 |
Other Assets (Tables)
Other Assets (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Miscellaneous assets [abstract] | |
Schedule of other assets | 2018 2019 MCh$ MCh$ Assets held for leasing (*) 101,848 139,389 Assets received or awarded as payment (***): Assets awarded at judicial sale 14,171 10,967 Assets received in lieu of payment 10,700 7,770 Provisions for assets received in lieu of payment (1,915 ) (1,349 ) Subtotal 22,956 17,388 Other Assets Deposit by derivatives margin 336,548 475,852 Other accounts and notes receivable 29,080 44,671 Documents intermediated (**) 28,478 40,911 Prepaid expenses 37,394 34,934 Recoverable income taxes 44,665 33,136 Commissions receivable 12,155 14,191 Other 38,567 42,528 Subtotal 526,887 686,223 Total 651,691 843,000 (*) These correspond to property and equipment to be given under a financial lease. (**) Documents intermediated refers to securities lending agreements managed by the Bank's subsidiary Banchile Corredores de Bolsa S.A. (***) Assets received in lieu of payment are valued at fair value, which is calculated considering the lesser between appraised value and value of award, less cost of sell. |
Current Accounts and Other De_2
Current Accounts and Other Demand Deposits (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Current Accounts and Other Demand Deposits [abstract] | |
Schedule of current accounts and other demand deposits | 2018 2019 MCh$ MCh$ Current accounts 7,725,465 8,951,527 Other demand deposits 1,143,414 1,662,950 Other deposits and accounts 715,609 711,656 Total 9,584,488 11,326,133 |
Saving Accounts and Time Depo_2
Saving Accounts and Time Deposits (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Deposits from customers [abstract] | |
Schedule of saving accounts and time deposits | 2018 2019 MCh$ MCh$ Time deposits 10,343,922 10,537,614 Term savings accounts 224,303 239,850 Other term balances payable 87,949 79,154 Total 10,656,174 10,856,618 |
Borrowings from Financial Ins_2
Borrowings from Financial Institutions (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of detailed information about borrowings [abstract] | |
Schedule of borrowings from financial institutions | 2018 2019 MCh$ MCh$ Domestic banks Banco do Brasil 7,001 3,900 Banco Santander — 2,314 Banco Security 374 — Subtotal domestic banks 7,375 6,214 Foreign banks Foreign trade financing Citibank N.A. 212,329 285,974 Bank of New York Mellon 152,828 224,812 Sumitomo Mitsui Banking 196,571 213,534 Bank of America 210,279 194,704 Wells Fargo Bank 225,087 139,845 The Bank of Nova Scotia 122,080 133,539 Zürcher Kantonalbank 55,621 78,872 Standard Chartered Bank 296 70,128 JP Morgan Chase Bank 62,557 60,150 Toronto Dominion Bank 84,056 22,556 ING Bank — 10,987 Commerzbank AG 1,084 2,201 Mizuho Bank Ltd. 63,651 — Others 24 89 Borrowings and other obligations Wells Fargo Bank 104,637 113,377 Citibank N.A. 15,940 6,198 ING Bank NV — 88 Deutsche Bank AG 161 — Standard Chartered Bank 1,612 — Bank of America 486 — Others 85 9 Subtotal foreign banks 1,509,384 1,557,063 Chilean Central Bank — — Total 1,516,759 1,563,277 |
Debt Issued (Tables)
Debt Issued (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of financial assets [line items] | |
Schedule of debt securities issued | 2018 2019 Mortgage bonds 16,368 10,898 Bonds 6,772,990 7,912,621 Subordinated bonds 686,194 889,895 Total 7,475,552 8,813,414 |
Short-term Bonds [Member] | |
Disclosure of financial assets [line items] | |
Schedule of debt securities issued | Counterparty Currency Amount MCh$ Annual interest rate % Issued date Maturity date Citibank N.A. USD 40,937 2.91 04/01/2019 04/04/2019 Wells Fargo Bank USD 40,264 2.85 17/01/2019 24/04/2019 Citibank N.A. USD 33,598 2.80 22/01/2019 22/04/2019 Citibank N.A. USD 53,250 2.67 04/04/2019 02/07/2019 Citibank N.A. USD 27,886 2.67 09/04/2019 09/08/2019 Citibank N.A. USD 33,257 2.66 11/04/2019 11/07/2019 Wells Fargo Bank USD 33,257 2.68 11/04/2019 11/10/2019 Citibank N.A. USD 33,051 2.66 12/04/2019 22/07/2019 Wells Fargo Bank USD 3,966 2.67 12/04/2019 12/09/2019 Citibank N.A. USD 27,184 2.67 29/04/2019 29/10/2019 Wells Fargo Bank USD 33,838 2.60 30/04/2019 30/07/2019 Citibank N.A. USD 34,795 2.61 17/05/2019 18/11/2019 Citibank N.A. USD 34,842 2.59 23/05/2019 22/08/2019 Bank of America USD 34,208 2.50 21/06/2019 22/08/2019 Wells Fargo Bank USD 3,421 2.50 24/06/2019 25/07/2019 Citibank N.A. USD 547 2.40 24/06/2019 15/10/2019 Citibank N.A. USD 13,620 2.50 25/06/2019 05/08/2019 Citibank N.A. USD 13,575 2.51 28/06/2019 01/08/2019 Citibank N.A. USD 34,070 2.38 11/07/2019 09/10/2019 Citibank N.A. USD 29,883 2.25 09/08/2019 12/11/2019 Wells Fargo Bank USD 3,525 2.03 13/08/2019 08/05/2020 Citibank N.A. USD 35,676 2.20 22/08/2019 21/11/2019 Wells Fargo Bank USD 21,350 2.20 10/09/2019 09/12/2019 Wells Fargo Bank USD 7,117 2.20 11/09/2019 16/12/2019 Wells Fargo Bank USD 28,466 2.20 11/09/2019 10/12/2019 Citibank N.A. USD 15,799 2.10 07/10/2019 07/01/2020 Citibank N.A. USD 36,206 2.07 09/10/2019 09/01/2020 Citibank N.A. USD 36,212 2.00 24/10/2019 29/01/2020 Bank of America USD 36,212 2.00 24/10/2019 24/01/2020 Citibank N.A. USD 18,200 2.00 25/10/2019 03/02/2020 Citibank N.A. USD 31,819 1.91 04/11/2019 13/01/2020 Citibank N.A. USD 31,239 1.97 12/11/2019 12/02/2020 Citibank N.A. USD 4,554 2.05 22/11/2019 07/08/2020 Citibank N.A. USD 7,989 2.05 22/11/2019 07/08/2020 Citibank N.A. USD 18,750 2.07 04/12/2019 07/08/2020 Citibank N.A. USD 23,268 2.05 09/12/2019 09/04/2020 Wells Fargo Bank USD 3,877 2.04 09/12/2019 05/06/2020 Wells Fargo Bank USD 15,395 2.04 11/12/2019 27/03/2020 Citibank N.A. USD 1,792 2.03 30/12/2019 20/07/2020 Wells Fargo Bank USD 7,518 2.10 30/12/2019 15/12/2020 Total as of December 31, 2019 944,413 Counterparty Currency Amount MCh$ Annual interest rate % Issued date Maturity date Wells Fargo Bank USD 2,998 1.85 06/02/2018 08/05/2018 Wells Fargo Bank USD 2,998 1.93 06/02/2018 08/06/2018 Wells Fargo Bank USD 2,998 1.98 06/02/2018 09/07/2018 Wells Fargo Bank USD 2,998 2.05 06/02/2018 06/08/2018 Wells Fargo Bank USD 2,998 2.05 06/02/2018 08/08/2018 Wells Fargo Bank USD 29,716 2.25 28/02/2018 28/06/2018 Wells Fargo Bank USD 1,723 2.40 28/02/2018 29/08/2018 Citibank N.A. USD 6,894 2.60 28/02/2018 25/02/2019 Wells Fargo Bank USD 13,780 2.30 02/03/2018 02/07/2018 Wells Fargo Bank USD 4,489 2.30 05/03/2018 06/07/2018 Citibank N.A. USD 18,080 2.22 07/03/2018 05/06/2018 Wells Fargo Bank USD 1,747 2.25 13/03/2018 11/06/2018 Wells Fargo Bank USD 3,006 2.45 14/03/2018 11/09/2018 Wells Fargo Bank USD 606 2.60 15/03/2018 14/12/2018 Wells Fargo Bank USD 605 2.60 29/03/2018 28/09/2018 Wells Fargo Bank USD 60,343 2.60 05/04/2018 04/09/2018 Wells Fargo Bank USD 30,254 2.50 06/04/2018 01/08/2018 Wells Fargo Bank USD 1,743 2.40 10/04/2018 09/08/2018 Wells Fargo Bank USD 8,918 2.75 13/04/2018 12/04/2019 Wells Fargo Bank USD 8,946 2.75 17/04/2018 16/04/2019 Citibank N.A. USD 19,046 2.36 08/05/2018 08/08/2018 Citibank N.A. USD 31,665 2.38 09/05/2018 07/08/2018 Citibank N.A. USD 1,873 2.37 10/05/2018 08/08/2018 Citibank N.A. USD 12,250 2.36 14/05/2018 15/08/2018 Wells Fargo Bank USD 18,968 2.70 11/06/2018 01/04/2019 Wells Fargo Bank USD 28,973 2.42 13/06/2018 24/07/2018 Wells Fargo Bank USD 15,991 2.45 19/06/2018 20/09/2018 Citibank N.A. USD 12,778 2.41 20/06/2018 20/09/2018 Citibank N.A. USD 31,944 2.45 20/06/2018 03/10/2018 Wells Fargo Bank USD 3,194 2.65 20/06/2018 13/02/2019 Citibank N.A. USD 3,885 2.50 22/06/2018 23/11/2018 Wells Fargo Bank USD 19,495 2.20 28/06/2018 27/07/2018 Wells Fargo Bank USD 4,875 2.30 03/07/2018 11/09/2018 Wells Fargo Bank USD 29,556 2.30 06/07/2018 10/09/2018 Wells Fargo Bank USD 62,079 2.45 17/07/2018 17/10/2018 Wells Fargo Bank USD 32,729 2.45 24/07/2018 22/10/2018 Wells Fargo Bank USD 19,283 2.45 27/07/2018 29/10/2018 Wells Fargo Bank USD 31,919 2.50 30/07/2018 29/11/2018 Wells Fargo Bank USD 16,039 2.52 01/08/2018 06/12/2018 Citibank N.A. USD 25,787 2.50 02/08/2018 06/12/2018 Wells Fargo Bank USD 10,859 2.47 07/08/2018 14/12/2018 Wells Fargo Bank USD 3,238 2.46 09/08/2018 14/12/2018 Wells Fargo Bank USD 17,070 2.53 31/08/2018 28/12/2018 Wells Fargo Bank USD 6,929 2.58 04/09/2018 06/02/2019 Citibank N.A. USD 34,646 2.57 04/09/2018 04/01/2019 Citibank N.A. USD 4,902 2.24 07/09/2018 09/10/2018 Citibank N.A. USD 34,525 2.25 07/09/2018 09/10/2018 Citibank N.A. USD 1,742 2.23 10/09/2018 09/10/2018 Wells Fargo Bank USD 3,484 2.65 10/09/2018 11/03/2019 Wells Fargo Bank USD 6,026 2.45 11/09/2018 06/12/2018 Bofa Merrill Lynch USD 18,421 2.62 14/09/2018 01/03/2019 Wells Fargo Bank USD 33,464 2.48 20/09/2018 20/12/2018 Wells Fargo Bank USD 1,322 2.70 03/10/2018 05/04/2019 Wells Fargo Bank USD 13,591 2.78 12/10/2018 25/04/2019 Wells Fargo Bank USD 6,694 2.55 16/10/2018 16/01/2019 Citibank N.A. USD 6,713 2.50 17/10/2018 04/01/2019 Citibank N.A. USD 34,208 2.65 23/10/2018 22/01/2019 Citibank N.A. USD 20,483 2.84 11/12/2018 11/03/2019 Wells Fargo Bank USD 2,236 2.90 12/12/2018 12/04/2019 Wells Fargo Bank USD 34,555 2.67 20/12/2018 19/02/2019 Wells Fargo Bank USD 10,466 2.97 27/12/2018 02/05/2019 Wells Fargo Bank USD 6,977 2.97 27/12/2018 29/04/2019 Total as of December 31, 2018 940,720 |
Current Bonds Long-Term [Member] | |
Disclosure of financial assets [line items] | |
Schedule of debt securities issued | Series Currency Amount MCh$ Terms Years Annual issue rate % Issue date Maturity date BCHIEC0817 UF 83,470 5 1.55 30/01/2019 30/01/2024 BCHIED1117 UF 41,711 5 1.54 14/03/2019 14/03/2024 BCHIED1117 UF 5,587 5 1.45 19/03/2019 19/03/2024 BCHIED1117 UF 36,317 5 1.45 20/03/2019 20/03/2024 BCHIDW1017 UF 84,359 2 0.93 09/05/2019 09/05/2021 BCHIDW1017 UF 57,091 2 0.57 24/06/2019 24/06/2021 BCHIEH0917 UF 58,867 7 1.04 01/07/2019 01/07/2026 BCHIEB1117 UF 86,682 4 0.83 01/07/2019 01/07/2023 BCHIEH0917 UF 29,514 7 1.00 02/07/2019 02/07/2026 BCHIEI1117 UF 60,697 7 0.66 19/07/2019 19/07/2026 BCHIEI1117 UF 22,063 7 0.51 30/07/2019 30/07/2026 BCHIEI1117 UF 8,613 7 0.45 01/08/2019 01/08/2026 BCHICC0815 UF 71,703 12 0.54 05/08/2019 05/08/2031 BCHICA1015 UF 71,221 11 0.54 05/08/2019 05/08/2030 BCHICB1215 UF 14,496 11 0.44 07/08/2019 07/08/2030 BCHIEI1117 UF 7,764 7 0.30 07/08/2019 07/08/2026 BCHIEI1117 UF 20,212 7 0.28 08/08/2019 08/08/2026 BCHICB1215 UF 57,926 11 0.45 08/08/2019 08/08/2030 BCHIEI1117 UF 3,108 7 0.29 08/08/2019 08/08/2026 BCHIBV1015 UF 71,063 10 0.37 20/08/2019 20/08/2029 BCHIEV1117 UF 132,366 10 0.34 05/09/2019 05/09/2029 BCHIEK1117 UF 117,493 13 1.38 11/12/2019 11/12/2032 Subtotal UF 1,142,323 BONO JPY JPY 63,041 20 1.00 14/05/2019 14/05/2039 BONO HKD HKD 32,725 12 2.90 19/07/2019 19/07/2031 BONO AUD AUD 36,519 20 3.50 28/08/2019 28/08/2039 BONO PEN PEN 29,969 15 5.40 04/09/2019 04/09/2034 BONO AUD AUD 24,547 15 3.13 09/09/2019 09/09/2034 BONO NOK NOK 60,951 10 3.50 07/11/2019 07/11/2029 BONO AUD AUD 39,067 20 3.55 11/11/2019 11/11/2039 BONO JPY JPY 36,264 10 1.00 19/11/2019 19/11/2029 Subtotal Others currency 323,083 Total as of December 31, 2019 1,465,406 Series Currency Amount MCh$ Terms Years Annual issue rate % Issue date Maturity date BCHIEA0617 UF 106,001 6 1.60 03/01/2018 03/01/2024 BCHIBN1015 UF 114,212 12 2.90 24/01/2018 24/01/2030 BCHIEF1117 UF 79,612 8 1.80 09/02/2018 09/02/2026 BCHIEP0717 UF 104,550 11 2.00 13/02/2018 13/02/2029 BCHIBT1215 UF 57,936 14 3.00 13/03/2018 13/03/2032 BCHIBW1215 UF 59,081 14 2.20 14/08/2018 14/08/2032 BCHIDY0917 UF 55,619 5 1.24 16/08/2018 16/08/2023 BCHIEN1117 UF 109,543 10 2.08 25/09/2018 25/09/2028 BCHIDX0817 UF 109,311 5 1.70 22/10/2018 22/10/2023 BCHIDY0917 UF 12,025 5 1.74 22/10/2018 22/10/2023 BCHIDY0917 UF 15,299 5 1.75 22/10/2018 22/10/2023 BCHIBY1215 UF 59,374 15 2.29 24/10/2018 24/10/2033 BCHIBX0815 UF 58,998 15 2.29 24/10/2018 24/10/2033 BCHIBZ0815 UF 59,987 15 2.23 07/12/2018 07/12/2033 BCHIEJ0717 UF 82,878 9 1.99 12/12/2018 12/12/2027 Subtotal UF 1,084,426 BCHIDH0916 CLP 20,370 4 3.80 11/06/2018 11/06/2022 BONO USD USD 32,842 10 4.26 28/09/2018 28/09/2028 BONO CHF CHF 79,229 5 0.57 26/10/2018 26/10/2023 Subtotal other currencies 132,441 Total as of December 31, 2018 1,216,867 |
Subordinated bond [Member] | |
Disclosure of financial assets [line items] | |
Schedule of debt securities issued | Series Currency Amount MCh$ Terms Years Annual issue rate % Issue date Maturity date UCHI-J1111 UF 61,471 23 1.05 20/08/2019 20/08/2042 UCHI-J1111 UF 65,973 23 1.04 20/08/2019 20/08/2042 UCHI-J1111 UF 48,799 23 0.99 21/08/2019 21/08/2042 UCHI-I1111 UF 39,114 21 0.96 24/09/2019 24/09/2040 Total as of December 31, 2019 215,357 |
Other Financial Obligations (Ta
Other Financial Obligations (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Other Financial Obligations [Abstract] | |
Schedule of other financial obligations | 2018 2019 Other Chilean obligations 95,912 138,575 Public sector obligations 22,102 17,654 Total 118,014 156,229 |
Provisions (Tables)
Provisions (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of contingent liabilities [line items] | |
Schedule of provisions | 2018 MCh$ 2019 MCh$ Provision for minimum dividends 178,462 177,902 Provisions for contingent loan risks 25,016 24,971 Provisions for other contingencies 468 501 Total 203,946 203,374 |
Schedule of changes in provision | Minimum dividends MCh$ Contingent loan risks MCh$ Other MCh$ Total MCh$ Balances as of January 1, 2018 172,804 22,975 21,733 217,512 Provisions established 178,462 2,041 3 180,506 Provisions used (172,804 ) ― (19,347 ) (192,151 ) Provisions released ― ― (1,921 ) (1,921 ) Balances as of December 31, 2018 178,462 25,016 468 203,946 Balances as of January 1, 2019 178,462 25,016 468 203,946 Provisions established 177,902 ― 33 177,935 Provisions used (178,462 ) (45 ) ― (178,507 ) Provisions released ― ― ― ― Balances as of December 31, 2019 177,902 24,971 501 203,374 |
Schedule of impairment of losses on contingent loan risks | Outstanding exposure ECL 2018 MCh$ 2019 MCh$ 2018 MCh$ 2019 MCh$ Foreign office guarantees and standby letters of credit 341,676 280,838 428 63 Confirmed foreign letters of credit 56,764 94,673 29 4 Issued foreign letters of credit 388,396 316,916 93 51 Performance guarantees 2,232,682 2,283,390 4,080 4,037 Undrawn credit lines 7,769,325 7,870,260 20,386 20,816 Other commitments 46,561 155,163 ― ― Total 10,835,404 11,001,240 25,016 24,971 |
Foreign office guarantees and standby letters of credit | |
Disclosure of contingent liabilities [line items] | |
Schedule of credit quality and the maximum exposure to credit risk | As of December 31, 2018 Stage 1 Stage 2 Stage 3 Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Total Normal 332,965 138 8,226 - - - 341,329 Substandard - - 347 - - - 347 Non-complying - - - - - - - Total 332,965 138 8,573 - - - 341,676 As of December 31, 2019 Stage 1 Stage 2 Stage 3 Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Total Normal 249,306 395 30,761 - - - 280,462 Substandard - - 376 - - - 376 Non-complying - - - - - - - Total 249,306 395 31,137 - - - 280,838 |
Schedule of change in gross carrying amount and ECL allowances | An analysis of changes in the outstanding exposures on foreign office guarantees and standby letters of credit during the 2018 and 2019 periods are as follows: Stage 1 Stage 2 Stage 3 Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Total Outstanding exposure as of January 1, 2018 274,563 84 10,388 - - - 285,035 Net change on exposures 33,660 24 (4,139 ) - 132 - 29,677 Transfer to Stage 1 4,994 - (4,855 ) - (139 ) - - Transfer to Stage 2 (6,513 ) - 6,513 - - - - Transfer to Stage 3 - - - - - - - Foreign exchange adjustments 26,261 30 666 - 7 - 26,964 Exposure as of December 31, 2018 332,965 138 8,573 - - - 341,676 Outstanding exposure as of January 1, 2019 332,965 138 8,573 - - - 341,676 Net change on exposures (47,268 ) 273 7,604 7 - - (39,384 ) Transfer to Stage 1 5,243 7 (5,243 ) (7 ) - - - Transfer to Stage 2 (22,454 ) - 22,454 - - - - Transfer to Stage 3 - - - - - - - Foreign exchange adjustments (19,180 ) (23 ) (2,251 ) - - - (21,454 ) Exposure as of December 31, 2019 249,306 395 31,137 - - - 280,838 An analysis of changes in ECL exposures on foreign office guarantees and standby letters of credit during the 2018 and 2019 periods are as follows: Stage 1 Stage 2 Stage 3 Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Total MCh$ ECL exposures as of January 1, 2018 256 - - - - - 256 Net change on exposures 152 (1 ) - - 57 - 208 Transfer to Stage 1 60 - - - (60 ) - - Transfer to Stage 2 (14 ) - 14 - - - - Transfer to Stage 3 - - - - - - - Impact on year-end ECL of exposures transferred between stages during the year (56 ) - (14 ) - - - (70 ) Foreign exchange adjustments 30 1 - - 3 - 34 ECL as of December 31, 2018 428 - - - - - 428 ECL exposures as of January 1, 2019 428 - - - - - 428 Net change on exposures (366 ) - 18 - - - (348 ) Transfer to Stage 1 8 - (8 ) - - - - Transfer to Stage 2 (6 ) - 6 - - - - Transfer to Stage 3 - - - - - - - Impact on year-end ECL of exposures transferred between stages during the year (1 ) - - - - - (1 ) Changes to models and assumptions (32 ) - 7 - - - (25 ) Foreign exchange adjustments 10 - (1 ) - - - 9 ECL as of December 31, 2019 41 - 22 - - - 63 |
Confirmed foreign letters of credit | |
Disclosure of contingent liabilities [line items] | |
Schedule of credit quality and the maximum exposure to credit risk | As of December 31, 2018 Stage 1 Stage 2 Stage 3 Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Total MCh$ Normal 56,764 - - - - - 56,764 Substandard - - - - - - - Non-complying - - - - - - - Total 56,764 - - - - - 56,764 As of December 31, 2019 Stage 1 Stage 2 Stage 3 Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Total Normal 94,673 - - - - - 94,673 Substandard - - - - - - - Non-complying - - - - - - - Total 94,673 - - - - - 94,673 |
Schedule of change in gross carrying amount and ECL allowances | An analysis of changes in the outstanding exposures on confirmed foreign letters of credit during the 2018 and 2019 periods are as follows: Stage 1 Stage 2 Stage 3 Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Total Outstanding exposure as of January 1, 2018 64,970 - - - - - 64,970 Net change on exposures (15,455 ) - 8 - - - (15,447 ) Transfer to Stage 1 - - - - - - - Transfer to Stage 2 - - - - - - - Transfer to Stage 3 - - - - - - - Foreign exchange adjustments 7,249 - (8 ) - - - 7,241 Exposure as of December 31, 2018 56,764 - - - - - 56,764 Outstanding exposure as of January 1, 2019 56,764 - - - - - 56,764 Net change on exposures 46,648 - - - - - 46,648 Transfer to Stage 1 - - - - - - - Transfer to Stage 2 - - - - - - - Transfer to Stage 3 - - - - - - - Foreign exchange adjustments (8,739 ) - - - - - (8,739 ) Exposure as of December 31, 2019 94,673 - - - - - 94,673 An analysis of changes in ECL exposures on confirmed foreign letters of credit during the 2018 and 2019 periods are as follows: Stage 1 Stage 2 Stage 3 Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Total ECL exposures as of January 1, 2018 23 - - - - - 23 Net change on exposures 3 - - - - - 3 Transfer to Stage 1 - - - - - - - Transfer to Stage 2 - - - - - - - Transfer to Stage 3 - - - - - - - Impact on year-end ECL of exposures transferred between stages during the year - - - - - - - Foreign exchange adjustments 3 - - - - - 3 ECL as of December 31, 2018 29 - - - - - 29 ECL exposures as of January 1, 2019 29 - - - - - 29 Net change on exposures (24 ) - - - - - (24 ) Transfer to Stage 1 - - - - - - - Transfer to Stage 2 - - - - - - - Transfer to Stage 3 - - - - - - - Impact on year-end ECL of exposures transferred between stages during the year - - - - - - - Changes to models and assumptions (1 ) (1 ) Foreign exchange adjustments - - - - - - - ECL as of December 31, 2019 4 - - - - - 4 |
Issued foreign letters of credit | |
Disclosure of contingent liabilities [line items] | |
Schedule of credit quality and the maximum exposure to credit risk | As of December 31, 2018 Stage 1 Stage 2 Stage 3 Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Total MCh$ Normal 344,874 1,585 41,823 114 - - 388,396 Substandard - - - - - - - Non-complying - - - - - - - Total 344,874 1,585 41,823 114 - - 388,396 As of December 31, 2019 Stage 1 Stage 2 Stage 3 Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Total MCh$ Normal 149,753 1,308 165,538 317 - - 316,916 Substandard - - - - - - - Non-complying - - - - - - - Total 149,753 1,308 165,538 317 - - 316,916 |
Schedule of change in gross carrying amount and ECL allowances | An analysis of changes in the outstanding exposures on issued foreign letters of credit during the 2018 and 2019 periods are as follows: Stage 1 Stage 2 Stage 3 Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Total MCh$ Outstanding exposure as of January 1, 2018 80,106 1,737 11,984 486 - - 94,313 Net change on exposures 262,824 832 21,226 (1,498 ) - - 283,384 Transfer to Stage 1 6,268 - (6,268 ) - - - Transfer to Stage 2 (13,420 ) (1,098 ) 13,420 1,098 - - - Transfer to Stage 3 - - - - - - - Foreign exchange adjustments 9,096 114 1,461 28 - - 10,699 Exposure as of December 31, 2018 344,874 1,585 41,823 114 - - 388,396 Outstanding exposure as of January 1, 2019 344,874 1,585 41,823 114 - - 388,396 Net change on exposures (41,247 ) (362 ) (21,391 ) 371 - - (62,629 ) Transfer to Stage 1 20,794 491 (20,794 ) (491 ) - - - Transfer to Stage 2 (167,024 ) (333 ) 167,024 333 - - - Transfer to Stage 3 - - - - - - - Foreign exchange adjustments (7,644 ) (73 ) (1,124 ) (10 ) - - (8,851 ) Exposure as of December 31, 2019 149,753 1,308 165,538 317 - - 316,916 An analysis of changes in ECL exposures on issued foreign letters of credit during the 2018 and 2019 periods are as follows: Stage 1 Stage 2 Stage 3 Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Total MCh$ ECL exposures as of January 1, 2018 43 6 - - - - 49 Net change on exposures 38 7 - (1 ) - - 44 Transfer to Stage 1 - - - - - - - Transfer to Stage 2 (6 ) (3 ) 6 3 - - - Transfer to Stage 3 - - - - - - - Impact on year-end ECL of exposures transferred between stages during the year 4 - (6 ) (2 ) - - (4 ) Foreign exchange adjustments 4 - - - - - 4 ECL as of December 31, 2019 83 10 - - - - 93 ECL exposures as of January 1, 2019 83 10 - - - - 93 Net change on exposures (61 ) (8 ) 10 18 - - (41 ) Transfer to Stage 1 - - - - - - - Transfer to Stage 2 (3 ) (1 ) 3 1 - - - Transfer to Stage 3 - - - - - - - Impact on year-end ECL of exposures transferred between stages during the year - - (2 ) - - - (2 ) Changes to models and assumptions 1 - - - - - 1 Foreign exchange adjustments - - - - - - - ECL as of December 31, 2019 20 1 11 19 - - 51 |
Performance guarantees | |
Disclosure of contingent liabilities [line items] | |
Schedule of credit quality and the maximum exposure to credit risk | As of December 31, 2018 Stage 1 Stage 2 Stage 3 Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Total MCh$ Normal 1,685,980 54,523 477,489 3,470 - 22 2,221,484 Substandard - - 7,586 - - - 7,586 Non-complying - - - 74 2,310 1,228 3,612 Total 1,685,980 54,523 485,075 3,544 2,310 1,250 2,232,682 As of December 31, 2019 Stage 1 Stage 2 Stage 3 Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Total MCh$ Normal 1,804,374 44,325 414,621 10,970 - - 2,274,290 Substandard - - 5,806 - - - 5,806 Non-complying - - - - 2,194 1,100 3,294 Total 1,804,374 44,325 420,427 10,970 2,194 1,100 2,283,390 |
Schedule of change in gross carrying amount and ECL allowances | An analysis of changes in the outstanding exposures on Performance guarantees during the 2018 and 2019 periods are as follows: Stage 1 Stage 2 Stage 3 Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Total MCh$ Outstanding exposure as of January 1, 2018 1,803,358 46,416 365,137 3,741 1,162 1,014 2,220,828 Net change on exposures (6,282 ) 8,008 (23,779 ) 1,963 (786 ) (1,935 ) (22,811 ) Transfer to Stage 1 189,344 10,346 (189,279 ) (10,258 ) (65 ) (88 ) - Transfer to Stage 2 (332,091 ) (9,034 ) 332,365 9,067 (274 ) (33 ) - Transfer to Stage 3 (13 ) (1,304 ) (2,256 ) (975 ) 2,269 2,279 - Foreign exchange adjustments 31,664 91 2,887 6 4 13 34,665 Exposure as of December 31, 2018 1,685,980 54,523 485,075 3,544 2,310 1,250 2,232,682 Outstanding exposure as of January 1, 2019 1,685,980 54,523 485,075 3,544 2,310 1,250 2,232,682 Net change on exposures 129,463 (10,568 ) (38,887 ) 8,898 (2,950 ) (1,203 ) 84,753 Transfer to Stage 1 249,755 18,249 (249,755 ) (18,092 ) - (157 ) - Transfer to Stage 2 (229,813 ) (17,111 ) 230,906 17,417 (1,093 ) (306 ) - Transfer to Stage 3 (74 ) (729 ) (3,884 ) (792 ) 3,958 1,521 - Foreign exchange adjustments (30,937 ) (39 ) (3,028 ) (5 ) (31 ) (5 ) (34,045 ) Exposure as of December 31, 2019 1,804,374 44,325 420,427 10,970 2,194 1,100 2,283,390 An analysis of changes in ECL exposures on Performance guarantees during the 2018 and 2019 periods are as follows: Stage 1 Stage 2 Stage 3 Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Total MCh$ ECL exposures as of January 1, 2018 1,841 384 947 - 470 34 3,676 Net change on exposures 664 73 (113 ) (2 ) (310 ) (11 ) 301 Transfer to Stage 1 - 18 - - - (18 ) - Transfer to Stage 2 (439 ) (87 ) 442 90 (3 ) (3 ) - Transfer to Stage 3 - (80 ) (86 ) - 86 80 - Impact on year-end ECL of exposures transferred between stages during the year 209 200 (444 ) (88 ) 250 (79 ) 48 Foreign exchange adjustments 33 1 19 - 2 - 55 ECL as of December 31, 2018 2,308 509 765 - 495 3 4,080 ECL exposures as of January 1, 2019 2,308 509 765 - 495 3 4,080 Net change on exposures (1,717 ) (178 ) 767 789 (791 ) 471 (659 ) Transfer to Stage 1 287 20 (287 ) (20 ) - - - Transfer to Stage 2 (249 ) (233 ) 919 233 (670 ) - - Transfer to Stage 3 (2 ) (22 ) (192 ) (17 ) 194 39 - Impact on year-end ECL of exposures transferred between stages during the year (18 ) 182 (684 ) (231 ) 1,263 (39 ) 473 Changes to models and assumptions (15 ) - 152 - - - 137 Foreign exchange adjustments 7 (1 ) - - - - 6 ECL as of December 31, 2019 601 277 1,440 754 491 474 4,037 |
Undrawn credit lines | |
Disclosure of contingent liabilities [line items] | |
Schedule of credit quality and the maximum exposure to credit risk | As of December 31, 2018 Stage 1 Stage 2 Stage 3 Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Total MCh$ Normal 1,279,611 5,512,504 177,084 786,603 - 449 7,756,251 Substandard - - 1,502 - - - 1,502 Non-complying - - - 60 328 11,184 11,572 Total 1,279,611 5,512,504 178,586 786,663 328 11,633 7,769,325 As of December 31, 2019 Stage 1 Stage 2 Stage 3 Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Total Normal 1,135,118 6,434,148 81,990 207,646 - - 7,858,902 Substandard - - 1,468 - - - 1,468 Non-complying - - - - 359 9,531 9,890 Total 1,135,118 6,434,148 83,458 207,646 359 9,531 7,870,260 |
Schedule of change in gross carrying amount and ECL allowances | An analysis of changes in the outstanding exposures undrawn credit lines during the 2018 and 2019 periods are as follows: Stage 1 Stage 2 Stage 3 Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Total MCh$ Outstanding exposure as of January 1, 2018 1,199,593 5,086,210 147,053 794,449 411 12,690 7,240,406 Net change on exposures 111,426 621,021 (5,449 ) (114,834 ) (326 ) (10,615 ) 601,223 Transfer to Stage 1 130,936 491,857 (130,926 ) (488,237 ) (11 ) (3,619 ) - Transfer to Stage 2 (166,795 ) (561,588 ) 166,892 563,941 (97 ) (2,353 ) - Transfer to Stage 3 (120 ) (1,928 ) (217 ) (13,476 ) 337 15,404 - Foreign exchange adjustments 4,571 (123,068 ) 1,233 44,820 14 126 (72,304 ) Exposure as of December 31, 2018 1,279,611 5,512,504 178,586 786,663 328 11,633 7,769,325 Outstanding exposure as of January 1, 2019 1,279,611 5,512,504 178,586 786,663 328 11,633 7,769,325 Net change on exposures (182,381 ) 668,090 (50,111 ) (96,818 ) (204 ) (8,651 ) 329,925 Transfer to Stage 1 162,455 1,058,685 (162,453 ) (1,058,572 ) (2 ) (113 ) - Transfer to Stage 2 (118,673 ) (593,536 ) 118,848 598,413 (175 ) (4,877 ) - Transfer to Stage 3 (57 ) (1,970 ) (365 ) (9,938 ) 422 11,908 - Foreign exchange adjustments (5,837 ) (209,625 ) (1,047 ) (12,102 ) (10 ) (369 ) (228,990 ) Exposure as of December 31, 2019 1,135,118 6,434,148 83,458 207,646 359 9,531 7,870,260 An analysis of changes in ECL exposures on undrawn credit lines during the 2018 and 2019 periods are as follows: Stage 1 Stage 2 Stage 3 Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Total MCh$ ECL exposures as of January 1, 2018 937 8,071 147 4,747 - 5,069 18,971 Net change on exposures 684 2,796 21 (2,669 ) 41 (1,450 ) (577 ) Transfer to Stage 1 99 1,463 (96 ) (817 ) (4 ) (645 ) - Transfer to Stage 2 (87 ) (3,246 ) 124 3,898 (37 ) (652 ) - Transfer to Stage 3 - (92 ) (5 ) (818 ) 5 910 - Impact on year-end ECL of exposures transferred between stages during the year (3 ) 31 (56 ) (441 ) (5 ) 2,028 1,554 Foreign exchange adjustments 4 100 2 294 - 38 438 ECL as of December 31, 2018 1,634 9,123 137 4,194 - 5,298 20,386 ECL exposures as of January 1, 2019 1,634 9,123 137 4,194 - 5,298 20,386 Net change on exposures (1,229 ) 4,832 25 (1,245 ) 63 (848 ) 1,598 Transfer to Stage 1 88 6,162 (87 ) (6,141 ) (1 ) (21 ) - Transfer to Stage 2 (113 ) (6,056 ) 191 7,838 (78 ) (1,782 ) - Transfer to Stage 3 - (149 ) (12 ) (792 ) 12 941 - Impact on year-end ECL of exposures transferred between stages during the year (35 ) (389 ) (129 ) (1,116 ) 83 1,006 (580 ) Changes to models and assumptions (112 ) (269 ) 63 (28 ) - - (346 ) Foreign exchange adjustments 1 (119 ) (3 ) (66 ) (1 ) (54 ) (242 ) ECL as of December 31, 2019 234 13,135 185 2,644 78 4,540 20,816 |
Other commitments | |
Disclosure of contingent liabilities [line items] | |
Schedule of credit quality and the maximum exposure to credit risk | As of December 31, 2018 Stage 1 Stage 2 Stage 3 Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Total MCh$ Normal 46,561 - - - - - 46,561 Substandard - - - - - - - Non-complying - - - - - - - Total 46,561 - - - - - 46,561 As of December 31, 2019 Stage 1 Stage 2 Stage 3 Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Total MCh$ Normal 155,163 - - - - - 155,163 Substandard - - - - - - - Non-complying - - - - - - - Total 155,163 - - - - - 155,163 |
Schedule of change in gross carrying amount and ECL allowances | An analysis of changes in the outstanding exposures on other commitments during the 2018 and 2019 periods are as follows: Stage 1 Stage 2 Stage 3 Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Total MCh$ Outstanding exposure as of January 1, 2018 49,519 - 11,090 - - - 60,609 Net change on exposures (2,958 ) - (11,090 ) - - - (14,048 ) Transfer to Stage 1 - - - - - - - Transfer to Stage 2 - - - - - - - Transfer to Stage 3 - - - - - - - Foreign exchange adjustments - - - - - - - Exposure as of December 31, 2018 46,561 - - - - - 46,561 Outstanding exposure as of January 1, 2019 46,561 - - - - - 46,561 Net change on exposures 108,602 - - - - - 108,602 Transfer to Stage 1 - - - - - - - Transfer to Stage 2 - - - - - - - Transfer to Stage 3 - - - - - - - Foreign exchange adjustments - - - - - - - Exposure as of December 31, 2019 155,163 - - - - - 155,163 An analysis of changes in ECL exposures on other commitments during the 2018 and 2019 periods are as follows: Stage 1 Stage 2 Stage 3 Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Individual MCh$ Group MCh$ Total MCh$ ECL exposures as of January 1, 2018 - - - - - - - Net change on exposures - - - - - - - Transfer to Stage 1 - - - - - - - Transfer to Stage 2 - - - - - - - Transfer to Stage 3 - - - - - - - Impact on year-end ECL of exposures transferred between stages during the year - - - - - - - Foreign exchange adjustments - - - - - - - ECL as of December 31, 2018 - - - - - - - ECL exposures as of January 1, 2019 - - - - - - - Net change on exposures - - - - - - - Transfer to Stage 1 - - - - - - - Transfer to Stage 2 - - - - - - - Transfer to Stage 3 - - - - - - - Impact on year-end ECL of exposures transferred between stages during the year - - - - - - - Changes to models and assumptions - - - - - - - Foreign exchange adjustments - - - - - - - ECL as of December 31, 2019 - - - - - - - |
Employee Benefits (Tables)
Employee Benefits (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of defined benefit plans [abstract] | |
Schedule of provisions for personnel benefits and payroll | 2018 2019 MCh$ MCh$ Short-term personnel benefits (a.2) 47,797 51,051 Vacation accrual (a.3) 26,855 27,609 Employee defined benefit plan (a.1)(*) 7,754 7,566 Other Benefits 10,173 22,849 Total 92,579 109,075 (*) See Note No. 2 (x) (iii). |
Schedule of employee defined benefit plan | 2018 2019 MCh$ MCh$ Current service cost 250 101 Interest cost on benefit obligation 300 222 Actuarial gains and losses 127 247 Net benefit expense 677 570 |
Schedule of principal assumptions used in determining pension obligations for the Bank's plan | December 31, December 31, 2018 2019 % % Discount rate 4.25 3.17 Annual salary increase 4.42 4.42 Payment probability 99.99 99.99 |
Schedule of changes in the present value of the defined benefit obligation | 2018 2019 MCh$ MCh$ Opening defined benefit obligation, January 1, 7,676 7,754 Increase (Decrease) in provision 550 323 Benefits paid (599 ) (758 ) Actuarial gains and losses 127 247 Closing defined benefit obligation 7,754 7,566 |
Schedule of changes in provisions for incentive plans | 2018 2019 MCh$ MCh$ Balances as of January 1, 43,372 47,797 Provisions established 40,058 45,792 Provisions used (35,633 ) (42,538 ) Provisions released — — Balances as of December 31, 47,797 51,051 |
Schedule of changes in provisions for vacation | 2018 2019 MCh$ MCh$ Balances as of January 1, 25,159 26,855 Provisions established 7,529 7,257 Provisions used (5,833 ) (6,503 ) Provisions released — — Balances as of December 31, 26,855 27,609 |
Other Liabilities (Tables)
Other Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Miscellaneous liabilities [abstract] | |
Schedule of other liabilities | 2018 2019 MCh$ MCh$ Accounts and notes payable 176,826 231,465 Securities unliquidated 106,071 134,253 Income received in advance (*) 5,743 125,418 Documents intermediated (**) 53,492 80,190 Cobranding 36,081 30,186 VAT payable — 4.523 Insurance payments 992 1,157 Outstanding transactions 616 792 Others 18,984 23,683 Total 398,805 631,667 (*) On January 28, 2019, Banco de Chile and its subsidiary Banchile Corredores de Seguros Ltda. informed that they have entered into a strategic alliance with the insurance companies Chubb Seguros Chile S.A. and Chubb Seguros de Vida Chile S.A. The framework of the strategic alliance establishes the general terms and conditions pursuant to which the Bank will grant, for a period of 15 years, exclusive access to the Companies to provide insurances to clients via face-to-face and digital channels of the Bank, through Banchile, as well as, granting access to existing clients of the Bank, subject to the exceptions agreed upon by the parties. The aforementioned Agreement included an initial payment on the date of the signing of the contracts, in accordance with the terms and conditions thereof, and annual payments subject to compliance with insurance sales objectives during the agreement lifetime. On June 4, 2019, Banco de Chile received the payment from the Insurance Companies for an amount of Ch$149,061 million, which was recorded according to IFRS 15. The related income is recognized at the time of providing access to existing clients to the Insurance Companies and over time, depending on compliance with the associated performance obligations. (**) This item mainly includes financing of simultaneous operations performed by subsidiary Banchile Corredores de Bolsa S.A. |
Contingencies and Commitments (
Contingencies and Commitments (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Contingencies and Commitments [abstract] | |
Schedule of commitments accounted for in off-balance sheet accounts | 2018 2019 MCh$ MCh$ Off-balance-sheet accounts Foreign office guarantees and standby letters of credit 341,676 280,838 Confirmed foreign letters of credit 56,764 94,673 Issued foreign letters of credit 388,396 316,916 Performance guarantees 2,232,682 2,283,390 Undrawn credit lines 7,769,325 7,870,260 Other commitments 46,561 155,163 Transactions on behalf of third parties Collections 160,367 144,043 Third-party resources managed by the Bank: Financial assets managed on behalf of third parties 27,334 6,418 Other assets managed on behalf of third parties — — Financial assets acquired on its own behalf 103,319 73,140 Fiduciary activities Securities held in safe custody in the Bank 2,089,079 2,677,353 Securities held in safe custody in other entities 18,624,962 18,719,297 Total 31,840,465 32,621,491 |
Schedule of estimated date of completion of the respective litigation | As of December 31, 2019 2020 2021 2022 2023 Total MCh$ MCh$ MCh$ MCh$ MCh$ Legal contingencies 120 117 ― ― 237 |
Schedule of guarantees given in relation to subsidiary's business activities | 2018 2019 MCh$ MCh$ Guarantees: Shares to secure short-sale transactions in: Santiago Securities Exchange, Stock Exchange 59,074 85,302 Electronic Chilean Securities Exchange, Stock Exchange 17,223 6,843 Fixed income securities to guarantee CCLV system, Santiago Securities Exchange, Stock Exchange 5,976 7,985 Shares delivered to guarantee equity lending, Electronic Chilean Securities Exchange, Stock Exchange — 382 Total 82,273 100,512 |
Schedule of insurance policies contracted | Matter insured Amount Insured (UF) Responsibility for errors and omissions policy 60,000 Civil responsibility policy 500 |
Equity (Tables)
Equity (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of classes of share capital [abstract] | |
Schedule of share movements | Total Ordinary Shares Total shares as of December 31, 2017 99,444,132,192 Capitalization of retained earnings 1,572,948,922 Total shares as of December 31, 2018 101,017,081,114 Total Shares as of December 31, 2019 101,017,081,114 |
Schedule of shareholder's composition | As of December 31, 2018, the shareholder composition was as follows: Corporate Name or Shareholder's Name Shares % of Equity Holding Sociedad Administradora de la Obligación Subordinada SAOS S.A. 28,593,701,789 28.31 LQ Inversiones Financieras S.A. 27,460,203,382 27.18 Sociedad Matriz del Banco de Chile S.A. 12,138,573,251 12.02 Other minority shareholders 32,824,602,692 32.49 Total 101,017,081,114 100.00 As of December 31, 2019, the shareholder composition was as follows: Corporate Name or Shareholder's Name Shares % of Equity Holding LQ Inversiones Financieras S.A. 46,815,289,329 46.34 Banchile Corredores de Bolsa S.A. 5,708,422,261 5.65 Inversiones LQ-SM Limitada 4,854,988,014 4.81 Other minority shareholders 43,638,381,510 43.20 Total 101,017,081,114 100.00 |
Schedule of dividends declared and paid | 2017 2018 2019 Dividends on ordinary shares MCh$ (*) 342,034 374,079 356,311 Dividends per ordinary share Ch$ (**) 3.50 3.76 3.53 (*) This dividend per share is composed of the dividend paid to the Central Bank and common shareholders in the amounts of MCh$90,733 and MCh$265,578, respectively. On April 30, 2019, was paid the last installment of subordinated debt to the Central Bank. (**) Dividends per share are calculated by dividing the amount of the dividend paid during each year by the previous year's number of shares outstanding. |
Schedule of the income and share data used in the calculation of EPS | As of December 31, 2017 2018 2019 Basic and diluted earnings per share: Net profits attributable to ordinary equity holders of the Bank (MCh$) 572,080 603,633 603,744 Weighted average number of ordinary shares (*) 101,017,081,114 101,017,081,114 101,017,081,114 Earnings per share (Ch$) 5.66 5.98 5.98 (*) During 2017 and 2018, the Bank capitalized 1,819,784,762, and 1,572,948,922 shares respectively, which are considered in the earnings per share calculation as if they had been outstanding during all periods presented. |
Interest Revenue and Expenses (
Interest Revenue and Expenses (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Interest Revenue and Expenses [abstract] | |
Schedule of interest revenue | 2017 2018 2019 MCh$ MCh$ MCh$ Commercial loans 786,794 851,328 910,229 Consumer loans 614,393 613,293 638,198 Residential mortgage loans 401,862 502,832 532,009 Financial investments 35,403 52,909 45,294 Repurchase agreements 7,337 2,767 2,480 Loans and advances to banks 15,024 24,138 27,457 Gain (loss) from accounting hedges 20,722 (58,560 ) (59,874 ) Other interest revenue 5,165 11,910 17,755 Total 1,886,700 2,000,617 2,113,548 |
Schedule of interest expenses | 2017 2018 2019 MCh$ MCh$ MCh$ Savings accounts and time deposits 297,277 301,251 313,142 Debt issued 268,203 352,351 386,015 Other financial obligations 1,640 1,482 918 Repurchase agreements 5,193 8,901 7,048 Borrowings from financial institutions 19,255 29,275 43,570 (Gain) loss from accounting hedges 54,834 (23,694 ) (25,888 ) Demand deposits 5,350 9,380 14,408 Lease liabilities — — 2,574 Other interest expenses 253 694 483 Total 652,005 679,640 742,270 |
Schedule of loss from accounting hedge | 2017 2018 2019 MCh$ MCh$ MCh$ Cash Flow hedge (29,477 ) (33,031 ) (28,690 ) Fair value hedge (4,635 ) (1,835 ) (5,296 ) Total (34,112 ) (34,866 ) (33,986 ) |
Income and Expenses from Fees_2
Income and Expenses from Fees and Commissions (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Fee and commission income (expense) [abstract] | |
Schedule of income and expenses for fees and commissions | 2017 2018 2019 MCh$ MCh$ MCh$ Income from fees and commissions Debit and credit card services 155,572 167,201 185,878 Investments in mutual funds and others 86,103 91,173 101,046 Use of distribution channel and access to customers 18,204 20,974 65,243 Collections and payments 50,343 52,717 56,389 Portfolio management 43,915 46,730 47,816 Fees for insurance transactions 30,163 32,886 37,035 Guarantees and letter of credit 24,485 25,021 26,101 Trading and securities management 18,741 24,632 21,878 Brand use agreement 14,515 14,840 16,494 Lines of credit and overdrafts 5,000 4,837 4,716 Financial advisory services 5,536 5,046 4,393 Other fees earned 19,125 19,057 22,183 Total income from fees and commissions 471,702 505,114 589,172 Expenses from fees and commissions Credit card transactions (96,872 ) (113,403 ) (97,823 ) Interbank transactions (13,189 ) (16,554 ) (20,133 ) Collections and payments (6,206 ) (6,546 ) (6,284 ) Securities transactions (6,802 ) (7,544 ) (5,943 ) Sales force (213 ) (258 ) (404 ) Other fees (746 ) (854 ) (1,283 ) Total expenses from fees and commissions (124,028 ) (145,159 ) (131,870 ) |
Net Financial Operating Income
Net Financial Operating Income (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Net Financial Operating Income [abstract] | |
Schedule of gain (losses) from trading and brokerage activities | 2017 2018 2019 MCh$ MCh$ MCh$ Net income on financial assets held-for-trading 46,207 42,605 44,274 Gain (loss) from mark to market 4,435 8,038 32,128 Financial assets held-for-trading 50,642 50,643 76,402 Sale of financial assets at fair value through other comprehensive income 6,514 1,118 4,789 Sale of loan portfolio 2,063 267 — Net (loss) gain of other transactions 233 384 (145 ) Derivative instruments (89,113 ) 64,730 32,391 Total (29,661 ) 117,142 113,437 |
Foreign Exchange Transactions_2
Foreign Exchange Transactions, Net (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Foreign Exchange Transactions, Net [abstract] | |
Schedule of foreign exchange transactions, net | 2017 2018 2019 MCh$ MCh$ MCh$ Gain (loss) from accounting hedges (64,135 ) 118,690 113,374 Exchange difference, net (7,221 ) 9,609 6,284 Indexed foreign currency 176,231 (125,598 ) (88,772 ) Total 104,875 2,701 30,886 |
Provisions for Loan Losses (Tab
Provisions for Loan Losses (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Provisions for Loan Losses [abstract] | |
Schedule of changes in provisions for loan losses | Loans and Loans to customers as of December 31, 2017 Debt instruments Provisions for advance to Commercial loans Mortgage loans Consumer loans Subtotal at fair value contingent Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Provisions established: Individual provisions (5 ) ― ― ― ― ― ― (5 ) Group provisions ― (47,837 ) (4,361 ) (247,810 ) (300,008 ) ― (3,131 ) (303,139 ) Provisions established net (5 ) (47,837 ) (4,361 ) (247,810 ) (300,008 ) ― (3,131 ) (303,144 ) Provisions released: Individual provisions ― 28,571 ― ― 28,571 ― 3,841 32,412 Group provisions ― ― ― ― ― ― ― ― Provisions released net ― 28,571 ― ― 28,571 ― 3,841 32,412 Recovery of written-off assets ― 13,750 3,246 32,481 49,477 ― ― 49,477 Provisions net allowances for credit risk (5 ) (5,516 ) (1,115 ) (215,329 ) (221,960 ) ― 710 (221,255 ) The detail of the amounts presented in the Consolidated Statement of Cash Flow is as follows: 2017 MCh$ Allowances established of loans to customer and loans and advances to banks (300,013 ) Allowances released of loans to customer and loans and advances to banks 28,571 Total allowances of loans to customer and loans and advances to banks (271,442 ) Loans and Loans to customers as of December 31, 2018 Debt instruments Provisions for advance to Commercial Mortgage loans Consumer Subtotal at fair value contingent Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Provisions established: Individual provisions (240 ) ― ― ― ― ― (2,368 ) (2,608 ) Group provisions ― (61,702 ) (7,546 ) (241,244 ) (310,492 ) ― ― (310,492 ) Provisions established net (240 ) (61,702 ) (7,546 ) (241,244 ) (310,492 ) ― (2,368 ) (313,100 ) Provisions released: Individual provisions ― 871 ― ― 871 1,552 ― 2,423 Group provisions ― ― ― ― ― ― 327 327 Provisions released net ― 871 ― ― 871 1,552 327 2,750 Recovery of written-off assets ― 13,579 4,572 42,428 60,579 ― ― 60,579 Provisions net allowances for credit risk (240 ) (47,252 ) (2,974 ) (198,816 ) (249,042 ) 1,552 (2,041 ) (249,771 ) The detail of the amounts presented in the Consolidated Statement of Cash Flow is as follows: 2018 MCh$ Allowances established of loans to customer and loans and advances to banks (310,732 ) Allowances released of loans to customer and loans and advances to banks 871 Total allowances of loans to customer and loans and advances to banks (309,861 ) Loans and Loans to customers as of December 31, 2019 Debt instruments Provisions for advance to banks Commercial Mortgage Consumer Subtotal at fair value contingent Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Provisions established: Individual provisions ― (17,143 ) ― ― (17,143 ) (3,468 ) ― (20,611 ) Group provisions ― (64,492 ) (17,168 ) (278,252 ) (359,912 ) ― (2,707 ) (362,619 ) Provisions established net ― (81,635 ) (17,168 ) (278,252 ) (377,055 ) (3,468 ) (2,707 ) (383,230 ) Provisions released: Individual provisions 902 ― ― ― ― ― 2,752 3,654 Group provisions ― ― ― ― ― ― ― ― Provisions released net 902 ― ― ― ― ― 2,752 3,654 Recovery of written-off assets ― 12,253 5,114 30,608 47,975 ― ― 47,975 Provisions net allowances for credit risk 902 (69,382 ) (12,054 ) (247,644 ) (329,080 ) (3,468 ) 45 (331,601 ) The detail of the amounts presented in the Consolidated Statement of Cash Flow is as follows: 2019 MCh$ Allowances established of loans to customer and loans and advances to banks (377,055 ) Allowances released of loans to customer and loans and advances to banks 902 Total allowances of loans to customer and loans and advances to banks (376,153 ) |
Personnel Expenses (Tables)
Personnel Expenses (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Classes of employee benefits expense [abstract] | |
Schedule of personnel expenses | 2017 2018 2019 MCh$ MCh$ MCh$ Remuneration 235,765 244,919 254,886 Bonuses and incentives 42,465 62,675 71,028 Variable Compensation 36,471 36,901 37,281 Lunch and health benefits 26,836 26,698 27,618 Gratifications 25,402 26,275 27,889 Staff severance indemnities 21,241 19,941 35,100 Training expenses 3,555 3,909 3,626 Other personnel expenses 17,596 19,312 18,171 Total 409,331 440,630 475,599 |
Administrative Expenses (Tables
Administrative Expenses (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Administrative Expenses [Abstract] | |
Schedule of administrative expenses | 2017 2018 2019 MCh$ MCh$ MCh$ General administrative expenses Information technology and communications 69,933 79,300 92,264 Maintenance and repair of property and equipment 35,044 36,716 50,297 External advisory services and professional services fees 11,514 16,690 21,099 Surveillance and securities transport services 11,927 11,828 11,533 Office supplies 8,238 8,535 9,366 Insurance premiums 5,797 5,286 5,851 Expenses for short-term leases and low value (*) — — 5,801 Energy, heating and other utilities 5,674 5,676 5,697 External service of financial information 4,510 4,787 5,461 Postal box, mail , postage and home delivery services 5,343 6,045 5,131 Legal and notary expenses 3,913 4,398 3,996 Representation and travel expenses 4,040 3,763 3,657 External service of custody of documentation 3,218 3,088 3,315 Other expenses of obligations for lease agreements (*) — — 2,797 Donations 2,538 1,982 2,238 Office rental and equipment and ATM (*) 33,017 34,773 — Other general administrative expenses 6,905 8,591 5,227 Subtotal 211,611 231,458 233,730 Outsource services Credit pre-evaluation 19,577 21,952 19,159 Data processing 12,330 8,562 10,129 External technological developments expenses 10,418 9,984 9,459 Certification and technology testing 6,532 6,823 7,460 Other 3,092 3,577 3,470 Subtotal 51,949 50.898 49,677 Board expenses Board of Directors Compensation 2,497 2,511 2,509 Other Board expenses 458 298 194 Subtotal 2,955 2,809 2,703 Marketing expenses Advertising 30,698 31,375 27,808 Subtotal 30,698 31,375 27,808 Taxes, payroll taxes and contributions Contribution to the banking regulator 9,176 9,548 10,285 Real estate contributions 2,722 2,823 2,856 Patents 1,241 1,243 1,209 Other taxes 1,103 1,323 1,437 Subtotal 14,242 14,937 15,787 Total 311,455 331,477 329,705 (*) See Note No. 4 Adoption of IFRS 16 "Leases". |
Depreciation, Amortization an_2
Depreciation, Amortization and Impairment (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Depreciation, amortisation and impairment loss (reversal of impairment loss) recognised in profit or loss [abstract] | |
Schedule of depreciation and amortization | 2017 2018 2019 MCh$ MCh$ MCh$ Depreciation and amortization Depreciation of property and equipment (Note No.15(b) and Note No. 16) 26,176 27,185 29,194 Depreciation of rights over leased assets (Note No. 15(d))(*) ― ― 28,472 Amortization of intangibles assets (Note No.14(b)) 11,360 10,496 12,875 Total 37,536 37,681 70,541 (*) See Note No. 4 "Changes in Accounting policies and Disclosures". |
Schedule of impairment loss | 2017 2018 2019 MCh$ MCh$ MCh$ Impairment loss Impairment loss on property and equipment (Note No.15(b)) 166 334 2,018 Impairment loss on intangibles assets (Note No.14(b)) ― ― 350 Impairment of rights over leased assets (Note No. 15(d)) ― ― 187 Total 166 334 2,555 |
Other Operating Income (Tables)
Other Operating Income (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Other Operating Income [abstract] | |
Schedule of other operating income | 2017 2018 2019 MCh$ MCh$ MCh$ Income for assets received in lieu of payment Income from sale of assets received in lieu of payment 1,941 3,650 2,560 Other income 37 56 40 Subtotal 1,978 3,706 2,600 Release of provisions for contingencies Other provisions for contingencies 160 7,526 ― Subtotal 160 7,526 ― Other income Expense recovery 4,372 4,218 9,002 Rental income 8,863 9,013 8,387 Credit card income 7,690 2,504 4,037 Recovery from correspondent banks 2,710 2,591 2,816 Revaluation of prepaid monthly payments 843 1,224 1,731 Income from sale leased assets 1,360 2,586 1,166 Others 1,983 11,927 2,576 Subtotal 27,821 34,063 29,715 Total 29,959 45,295 32,315 |
Other Operating Expenses (Table
Other Operating Expenses (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Other Operating Expenses [abstract] | |
Schedule of other operating expenses | 2017 2018 2019 MCh$ MCh$ MCh$ Provisions and expenses for assets received in lieu of payment Provisions for assets received in lieu of payment 2,307 3,930 3,246 Expenses to maintain assets received in lieu of payment 791 1,749 1,225 Subtotal 3,098 5,679 4,471 Provisions for contingencies Country risk provisions — — — Other provisions — 3 33 Subtotal — 3 33 Other expenses Write-offs for operating risks 6,360 11,378 5,561 Leasings operational expenses 10,152 4,504 5,111 Card administration 2,890 2,640 2,490 Correspondent banks 857 882 1,569 Expenses for charge-off leased assets recoveries 1,115 2,287 1,072 Others 1,396 2,213 3,543 Subtotal 22,770 23,904 19,346 Total 25,868 29,586 23,850 |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of transactions between related parties [abstract] | |
Schedule of loans and accounts receivable and contingent loans to related parties | Productive and Services Companies (*) Investment Companies (**) Individuals (***) Total 2018 2019 2018 2019 2018 2019 2018 2019 MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Loans and accounts receivable: Commercial loans 221,351 174,370 132,366 130,237 13,183 13,563 366,900 318,170 Residential mortgage loans — — — — 44,756 58,477 44,756 58,477 Consumer loans — — — — 10,074 9,862 10,074 9,862 Gross loans 221,351 174,370 132,366 130,237 68,013 81,902 421,730 386,509 Allowance for loan losses (962 ) (782 ) (242 ) (243 ) (379 ) (889 ) (1,583 ) (1,914 ) Net loans 220,389 173,588 132,124 129,994 67,634 81,013 420,147 384,595 Contingent loans: Guarantees and sureties 5,102 5,531 14,963 9,470 — — 20,065 15,001 Letters of credits 5,310 2,365 2,776 328 — — 8,086 2,693 Foreign letters of credits — — — — — — — — Banks guarantees 45,842 32,650 30,122 43,478 — 57 75,964 76,185 Undrawn credit lines 58,041 52,916 14,674 14,364 19,160 21,519 91,875 88,799 Other contingencies loans — — — — — — — — Total contingent loans 114,295 93,462 62,535 67,640 19,160 21,576 195,990 182,678 Provision for contingencies loans (258 ) (214 ) (99 ) (52 ) (30 ) (37 ) (387 ) (303 ) Contingent loans, net 114,037 93,248 62,436 67,588 19,130 21,539 195,603 182,375 Amount covered by guarantee: Mortgage 28,208 30,807 52,108 57,456 69,292 69,165 149,608 157,428 Warrant — — — — — — — — Pledge — — — — — — — — Others (****) 47,135 37,794 13,219 12,921 3,694 5,250 64,048 55,965 Total collateral 75,343 68,601 65,327 70,377 72,986 74,415 213,656 213,393 (*) For these effects are considered productive companies, those that meet the following conditions: (i) They engage in operating activities and generate a separable flow of income; (ii) Less than 50% of their assets are trading securities or investments. Service companies are considered entities whose main purpose is oriented to rendering services to third parties. (**) Investment companies include those legal entities that do not comply with the conditions for operating companies and are profit-oriented. (***) Individuals include key members of the management and correspond to those who directly or indirectly have authority and responsibility for planning, administrating and controlling the activities of the organization, including directors. This category also includes their family members who influence or are influenced by such individuals in their interactions with the organization. (****) These guarantees correspond mainly to shares and other financial guarantees. |
Schedule of other assets and liabilities with related parties | 2018 2019 MCh$ MCh$ Assets Cash and due from banks 23,086 99,802 Transactions in the course of collection 35,469 63,969 Financial assets held-for-trading 205 880 Derivative instruments 415,683 495,378 Investment instruments 14,690 12,141 Other assets 80,569 76,548 Total 569,702 748,718 Liabilities Demand deposits 169,607 227,377 Transactions in the course of payment 58,987 16,202 Obligations under repurchase agreements 84,465 54,030 Savings accounts and time deposits 219,322 396,028 Derivative instruments 337,299 432,669 Borrowings from financial institutions 228,269 292,172 Lease liabilities ― 5,138 Other liabilities 115,145 151,335 Total 1,213,094 1,574,951 |
Schedule of income and expenses from related party transactions | 2017 2018 2019 Type of income or expense recognized Income Expense Income Expense Income Expense Interest and revenue expenses 26,485 9,332 21,736 7,196 19,039 2,619 Fees and commission income 65,995 69,843 70,286 74,205 72,931 65,383 Net financial operating income Derivative instruments (*) 33,540 97,416 85,500 42,365 124,967 73,252 Other financial operations 1 ― ― ― 87 119 Release or established of provision for credit risk ― 252 ― 34 ― 106 Operating expenses ― 100,389 ― 105,734 ― 120,559 Other income and expenses 3,723 56 446 45 542 26 (*) The outcome of derivative operations is presented net at each related counterparty level. Additionally, this line includes operations with local counterpart banks (unrelated) which have been novated by Comder Contraparte Central S.A. (Related entity) for centralized clearing purposes, which generated a net gain of Ch$123,461 million as of December 31, 2019 (net gain of Ch$71,297 million as of December 31, 2018 and net loss of Ch$96,075 as of December 31, 2017). |
Schedule of payments and composition of key management personnel | 2017 2018 2019 MCh$ MCh$ MCh$ Personnel remunerations 4,149 3,926 4,148 Short-term benefits 3,302 3,476 3,255 Severance pay 276 1,037 1,264 Directors' remunerations and fees (*) 2,505 2,511 2,509 Total 10,232 10,950 11,176 (*) It includes fees paid to members of the Advisory Committee of Banchile Corredores de Seguros Ltda, of Ch$13 million (Ch$12 million in December 2018 and Ch$18 in December 2017). N° of executives Position 2018 2019 CEO 1 1 CEOs of subsidiaries 6 6 Division Managers 13 13 Directors Bank and subsidiaries 20 21 Total 40 41 |
Fair Value of Financial Asset_2
Fair Value of Financial Assets and Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of detailed information about financial instruments [line items] | |
Schedule of valuation techniques and inputs | Type of Financial Instrument Valuation Method Description: Inputs and Sources Local Bank and Corporate Bonds Discounted cash flows model Prices (internal rates of return) are provided by third party price providers that are widely used in the Chilean market. Model is based on a Base Yield (Central Bank Bonds) and issuer spread. The model is based on daily prices and risk/maturity similarities between Instruments. Offshore Bank and Corporate Bonds Prices (internal rates of return) are provided by third party price providers that are widely used in the Chilean market. Model is based on daily prices. Local Central Bank and Treasury Bonds Prices (internal rates of return) are provided by third party price providers that are widely used in the Chilean market. Model is based on daily prices. Mortgage Notes Prices (internal rates of return) are provided by third party price providers that are widely used in the Chilean market. Model is based on a Base Yield (Central Bank Bonds) and issuer spread. The model takes into consideration daily prices and risk/maturity similarities between instruments. Time Deposits Prices are provided by third party price providers that are widely used in the Chilean market. Model is based on daily prices and considers risk/maturity similarities between instruments. Cross Currency Swaps, Interest Rate Swaps, FX Forwards, Inflation Forwards Forward Points, Inflation forecast and local swap rates are provided by market brokers that are widely used in the Chilean market Offshore rates and spreads are obtained from third party price providers that are widely used in the Chilean market. Zero Coupon rates are calculated by using the bootstrapping method over swap rates. FX Options Black-Scholes Model Prices for volatility surface estimates are obtained from market brokers that are widely used in the Chilean market. |
Schedule of fair value of Financial Assets/Liabilities on the balance sheet | Level 1 Level 2 Level 3 Total 2018 2019 2018 2019 2018 2019 2018 2019 MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Financial Assets Financial assets held-for-trading From the Chilean government and Central Bank 178,692 93,032 1,344,780 1,030,657 ― ― 1,523,472 1,123,689 Other instruments issued in Chile 1,663 3,272 107,078 316,971 20,866 55,094 129,607 375,337 Instruments issued abroad 4,446 ― ― ― ― ― 4,446 ― Mutual fund investments 87,841 373,329 ― ― ― ― 87,841 373,329 Subtotal 272,642 469,633 1,451,858 1,347,628 20,866 55,094 1,745,366 1,872,355 Derivative contracts for trading purposes Forwards ― ― 735,444 956,632 ― ― 735,444 956,632 Swaps ― ― 738,130 1,761,952 ― ― 738,130 1,761,952 Call options ― ― 4,839 4,961 ― ― 4,839 4,961 Put options ― ― 120 1,076 ― ― 120 1,076 Futures ― ― ― ― ― ― ― ― Subtotal ― ― 1,478,533 2,724,621 ― ― 1,478,533 2,724,621 Hedge derivative contracts Fair value hedge (Swaps) ― ― 1,116 32 ― ― 1,116 32 Cash flow hedge (Swaps) ― ― 34,298 61,562 ― ― 34,298 61,562 Subtotal ― ― 35,414 61,594 ― ― 35,414 61,594 Total ― ― 1,513,947 2,786,215 ― ― 1,513,947 2,786,215 Financial assets at fair value through other comprehensive income Debt instruments (1) From the Chilean government and Central Bank 99,132 66,953 65,090 42,109 ― ― 164,222 109,062 Instruments issued in Chile ― ― 747,653 1,221,862 23,021 7,069 770,674 1,228,931 Instruments issued abroad ― ― 108,544 19,853 ― ― 108,544 19,853 Subtotal 99,132 66,953 921,287 1,283,824 23,021 7,069 1,043,440 1,357,846 Equity instruments: Instruments issued in Chile ― ― 8,939 7,446 ― ― 8,939 7,446 Instruments issued abroad 723 955 ― ― 89 96 812 1,051 Subtotal 723 955 8,939 7,446 89 96 9,751 8,497 Total 99,855 67,908 930,226 1,291,270 23,110 7,165 1,053,191 1,366,343 Total 372,497 537,541 3,896,031 5,425,113 43,976 62,259 4,312,504 6,024,913 Financial liabilities Derivative contracts for trading purposes Forwards ― ― 631,089 673,932 ― ― 631,089 673,932 Swaps ― ― 854,708 2,097,022 ― ― 854,708 2,097,022 Call options ― ― 2,921 1,529 ― ― 2,921 1,529 Put options ― ― 1,534 2,209 ― ― 1,534 2,209 Futures ― ― ― ― ― ― ― ― Subtotal ― ― 1,490,252 2,774,692 ― ― 1,490,252 2,774,692 Hedge derivative contracts Fair value hedge (Swaps) ― ― 6,164 9,286 ― ― 6,164 9,286 Cash flow hedge (Swaps) ― ― 31,818 34,443 ― ― 31,818 34,443 Subtotal ― ― 37,982 43,729 ― ― 37,982 43,729 Total ― ― 1,528,234 2,818,421 ― ― 1,528,234 2,818,421 (1) As of December 31, 2019, 98% of instruments of Level 3 have denomination "Investment Grade". Also, 100% of total of these financial instruments correspond to domestic issuers. |
Schedule of reconciliation between the beginning and ending balances of instruments classified as Level 3, whose fair value is reflected in the financial statements | 2018 Balance as of January 1, Gain (Loss) Recognized in Income (1) Gain (Loss) Recognized in Equity (2) Purchases Sales Transfer from Level 1 and 2 Transfer to Level 1 and 2 Balance as of December 31, MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Financial Assets Financial assets held-for-trading: Other instruments issued in Chile 8,012 176 — 48,740 (36,062 ) — — 20,866 Subtotal 8,012 176 — 48,740 (36,062 ) — — 20,866 Financial assets at fair value through OCI: Debt instruments: Other instruments issued in Chile 46,265 2,539 (292 ) — (20,520 ) — (4,971 ) 23,021 Equity instruments: Instruments issued abroad 50 — 39 — — — — 89 Subtotal 46,315 2,539 (253 ) — (20,520 ) — (4,971 ) 23,110 Total 54,327 2,715 (253 ) 48,740 (56,582 ) — (4,971 ) 43,976 2019 Balance as of January 1, Gain (Loss) Recognized in Income (1) Gain (Loss) Recognized in Equity (2) Purchases Sales Transfer from Level 1 and 2 Transfer to Level 1 and 2 Balance as of December 31, MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Financial Assets Financial assets held-for-trading: Other instruments issued in Chile 20,866 (38 ) — 48,017 (26,504 ) 13,368 (615 ) 55,094 Subtotal 20,866 (38 ) — 48,017 (26,504 ) 13,368 (615 ) 55,094 Financial assets at fair value through OCI: Debt instruments: Other instruments issued in Chile 23,021 968 (517 ) — (18,177 ) 1,774 — 7,069 Equity instruments: Instruments issued abroad 89 — 7 — — — — 96 Subtotal 23,110 968 (510 ) — (18,177 ) 1,774 — 7,165 Total 43,976 930 (510 ) 48,017 (44,681 ) 15,142 (615 ) 62,259 (1) It is recorded in the income statement under "Net financial operating income" (2) It is recorded in Equity under "Other Comprehensive Income" |
Schedule of transfers between levels for financial assets and liabilities whose fair value is recorded in the consolidated financial statements | Transfers from level 1 to level 2 2018 Financial assets MCh$ Financial assets held-for-trading instruments From the Chilean Government and Central Bank 496 Instruments issued abroad From the Chilean Government and Central Bank ― Transfers from level 2 to level 1 2018 Financial assets MCh$ Financial assets held-for-trading instruments From the Chilean Government and Central Bank ― Instruments issued abroad From the Chilean Government and Central Bank ― Transfers from level 1 to level 2 2019 Financial assets MCh$ Financial assets held-for-trading instruments From the Chilean Government and Central Bank 84 Financial assets at fair value through OCI From the Chilean Government and Central Bank ― Transfers from level 2 to level 1 2019 Financial assets MCh$ Financial assets held-for-trading instruments From the Chilean Government and Central Bank 17 Financial assets at fair value through OCI From the Chilean Government and Central Bank ― |
Schedule of impact on the fair value of Level 3 financial instruments using alternative assumptions that are reasonably possible | As of December 31, 2018 As of December 31, 2019 Level 3 Sensitivity to changes in key assumptions of models Level 3 Sensitivity to changes in key assumptions of models Financial Assets MCh$ MCh$ MCh$ MCh$ Financial assets held-for-trading Other instruments issued in Chile 20,866 (26 ) 55,094 (466 ) Subtotal 20,866 (26 ) 55,094 (466 ) Financial assets at fair value through OCI Debt instrument: Other instruments issued in Chile 23,021 (195 ) 7,069 (86 ) Equity instrument: Instruments issued abroad 89 ― 96 ― Subtotal 23,110 (195 ) 7,165 (86 ) Total 43,976 (221 ) 62,259 (552 ) |
Schedule of fair values of the financial assets and liabilities that are not recorded at fair value in the statement of financial position | Book Value Fair Value 2018 2019 2018 2019 MCh$ MCh$ MCh$ MCh$ Assets Cash and due from banks 880,081 2,392,166 880,081 2,392,166 Transactions in the course of collection 289,194 331,420 289,194 331,420 Investments under resale agreements 97,289 142,329 97,289 142,329 Subtotal 1,266,564 2,865,915 1,266,564 2,865,915 Loans and advances to banks Domestic banks 99,776 149,974 99,776 149,974 Chilean Central Bank 1,100,831 630,053 1,100,831 630,053 Foreign banks 293,777 360,054 286,063 358,542 Subtotal 1,494,384 1,140,081 1,486,670 1,138,569 Loans to Customers at amortized cost Commercial loans 15,209,534 16,039,411 14,949,852 15,988,330 Residential mortgage loans 8,017,743 9,163,019 8,451,099 9,888,506 Consumer loans 4,113,977 4,181,609 4,116,261 4,215,509 Subtotal 27,341,254 29,384,039 27,517,212 30,092,345 Total 30,102,202 33,390,035 30,270,446 34,096,829 Liabilities Current accounts and other demand deposits 9,584,488 11,326,133 9,584,488 11,326,133 Transactions in the course of payment 44,436 98,869 44,436 98,869 Obligations under repurchase agreements 303,820 308,734 303,820 308,734 Saving accounts and time deposits 10,656,174 10,856,618 10,632,350 10,795,125 Borrowings from financial institutions 1,516,759 1,563,277 1,506,940 1,555,129 Other financial obligations 118,014 156,229 119,024 160,361 Subtotal 22,223,691 24,309,860 22,191,058 24,244,351 Debt issued Letters of credit for residential purposes 15,040 10,229 15,982 11,081 Letters of credit for general purposes 1,328 669 1,411 725 Bonds 6,772,990 7,912,621 6,897,317 8,340,272 Subordinated bonds 686,194 889,895 732,611 1,004,621 Subtotal 7,475,552 8,813,414 7,647,321 9,356,699 Total 29,699,243 33,123,274 29,838,379 33,601,050 |
Schedule of figures by hierarchy, for financial assets/liabilities not measured at fair value on the balance sheet | Level 1 Level 2 Level 3 Total Estimated Fair Value Estimated Fair Value Estimated Fair Value Estimated Fair Value 2018 2019 2018 2019 2018 2019 2018 2019 MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Assets Cash and due from banks 880,081 2,392,166 ― ― ― ― 880,081 2,392,166 Transactions in the course of collection 289,194 331,420 ― ― ― ― 289,194 331,420 Investments under resale agreements 97,289 142,329 ― ― ― ― 97,289 142,329 Subtotal 1,266,564 2,865,915 ― ― ― ― 1,266,564 2,865,915 Loans and advances to banks Domestic banks 99,776 149,974 ― ― ― ― 99,776 149,974 Central bank 1,100,831 630,053 ― ― ― ― 1,100,831 630,053 Foreign banks ― ― ― ― 286,063 358,542 286,063 358,542 Subtotal 1,200,607 780,027 ― ― 286,063 358,542 1,486,670 1,138,569 Loans to Customers at amortized cost Commercial loans ― ― ― ― 14,949,852 15,988,330 14,949,852 15,988,330 Residential mortgage loans ― ― ― ― 8,451,099 9,888,506 8,451,099 9,888,506 Consumer loans ― ― ― ― 4,116,261 4,215,509 4,116,261 4,215,509 Subtotal ― ― ― ― 27,517,212 30,092,345 27,517,212 30,092,345 Total 2,467,171 3,645,942 ― ― 27,803,275 30,450,887 30,270,446 34,096,829 Liabilities Current accounts and other demand deposits 9,584,488 11,326,133 ― ― ― ― 9,584,488 11,326,133 Transactions in the course of payment 44,436 98,869 ― ― ― ― 44,436 98,869 Obligations under repurchase agreements 303,820 308,734 ― ― ― ― 303,820 308,734 Savings accounts and time deposits ― ― ― ― 10,632,350 10,795,125 10,632,350 10,795,125 Borrowings from financial institutions ― ― ― ― 1,506,940 1,555,129 1,506,940 1,555,129 Other financial obligations ― ― ― ― 119,024 160,361 119,024 160,361 Subtotal 9,932,744 11,733,736 ― ― 12,258,314 12,510,615 22,191,058 24,244,351 Debt Issued Letters of credit for residential purposes ― ― 15,982 11,081 ― ― 15,982 11,081 Letters of credit for general purposes ― ― 1,411 725 ― ― 1,411 725 Bonds ― ― 6,897,317 8,340,272 ― ― 6,897,317 8,340,272 Subordinate bonds ― ― ― ― 732,611 1,004,621 732,611 1,004,621 Subtotal ― ― 6,914,710 8,352,078 732,611 1,004,621 7,647,321 9,356,699 Total 9,932,744 11,733,736 6,914,710 8,352,078 12,990,925 13,515,236 29,838,379 33,601,050 Assets Liabilities - Cash and due from banks - Current accounts and other demand deposits - Transactions in the course of collection - Transactions in the course of payments - Investment under resale agreements - Obligations under repurchase agreements |
Schedule of offsetting of financial assets and liabilities | Effect of offsetting on balance sheet Related amount not offset Gross amount Amounts offset Net amounts reported on the balance sheet Financial Instruments Financial Collateral Net amount MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ As of December 31, 2018 Derivative financial assets 1,513,947 ― 1,513,947 (1,007,130 ) (30,036 ) 476,781 Derivative financial liabilities 1,528,234 ― 1,528,234 (1,007,130 ) (233,450 ) 287,654 Effect of offsetting on balance sheet Related amount not offset Gross amount Amounts offset Net amounts reported on the balance sheet Financial Instruments Financial Collateral Net amount MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ As of December 31, 2019 Derivative financial assets 2,786,215 ― 2,786,215 (2,113,970 ) (43,337 ) 628,908 Derivative financial liabilities 2,818,421 ― 2,818,421 (2,113,970 ) (418,988 ) 285,463 |
Fair Value - not measured at fair value | |
Disclosure of detailed information about financial instruments [line items] | |
Schedule of valuation techniques and inputs | Type of Financial Instrument Valuation Method Description: Inputs and Sources Local Bank and Corporate Bonds Discounted cash flows model Since inputs for these types of securities are not observable by the market, we model interest rate of returns for them based on a Base Yield (Central Bank Bonds) and issuer spread. These inputs (base yield and issuer spread) are provided on a daily basis by third party price providers that are widely used in the Chilean market. Offshore Bank and Corporate Bonds Discounted cash flows model Since inputs for these types of securities are not observable by the market, we model interest rate of returns for them based on a Base Yield (US-Libor) and issuer spread. These inputs (base yield and issuer spread) are provided on a weekly basis by third party price providers that are widely used in the Chilean market. |
Maturity of Assets and Liabil_2
Maturity of Assets and Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Maturity of Assets and Liabilities [abstract] | |
Schedule of classification of assets and liabilities in the order of liquidity | 2018 Up to 1 month Over 1 month and up to 3 months Over 3 month and up to 12 months Subtotal up to 1 year Over 1 year and up to 3 years Over 3 year and up to 5 years Over 5 years Subtotal over 1 Total Assets MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Cash and due from banks 880,081 ― ― 880,081 ― ― ― ― 880,081 Transactions in the course of collection 289,194 ― ― 289,194 ― ― ― ― 289,194 Financial Assets held-for-trading 1,745,366 ― ― 1,745,366 ― ― ― ― 1,745,366 Investments under resale agreements 73,496 16,918 6,875 97,289 ― ― ― ― 97,289 Derivative instruments 157,417 241,305 378,093 776,815 274,200 214,863 248,069 737,132 1,513,947 Loans and advances to banks (*) 1,262,428 77,268 132,259 1,471,955 23,441 ― ― 23,441 1,495,396 Loans to customers at amortized cost (*) 3,954,066 2,143,023 4,973,622 11,070,711 5,726,668 3,133,606 7,995,647 16,855,921 27,926,632 Financial Assets at Fair Value through Other Comprehensive Income 38,691 137,420 383,200 559,311 74,940 136,342 282,598 493,880 1,053,191 Financial assets held-to-maturity ― ― ― ― ― ― ― ― ― Total financial assets 8,400,739 2,615,934 5,874,049 16,890,722 6,099,249 3,484,811 8,526,314 18,110,374 35,001,096 2019 Up to 1 month Over 1 month and up to 3 months Over 3 month and up to 12 months Subtotal up to 1 year Over 1 year and up to 3 years Over 3 year and up to 5 years Over 5 years Subtotal over 1 Total Assets MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Cash and due from banks 2,392,166 ― ― 2,392,166 ― ― ― ― 2,392,166 Transactions in the course of collection 331,420 ― ― 331,420 ― ― ― ― 331,420 Financial Assets held-for-trading 1,872,355 ― ― 1,872,355 ― ― ― ― 1,872,355 Investments under resale agreements 102,057 29,393 10,879 142,329 ― ― ― ― 142,329 Derivative instruments 158,873 314,446 621,036 1,094,355 543,469 411,470 736,921 1,691,860 2,786,215 Loans and advances to banks (*) 876,119 97,585 166,487 1,140,191 ― ― ― ― 1,140,191 Loans to customers at amortized cost (*) 4,175,064 2,340,320 5,685,646 12,201,030 5,624,031 3,198,639 9,009,572 17,832,242 30,033,272 Financial Assets at Fair Value through Other Comprehensive Income 23,786 225,772 779,872 1,029,430 106,930 30,080 199,903 336,913 1,366,343 Financial assets held-to-maturity ― ― ― ― ― ― ― ― ― Total financial assets 9,931,840 3,007,516 7,263,920 20,203,276 6,274,430 3,640,189 9,946,396 19,861,015 40,064,291 (*) The respective provisions, which amount to Ch$585,378 million and Ch$649,233 million in 2018 and 2019, respectively, for loans to customers and Ch$1,012 million and Ch$110 million for loans and advances to banks, have not been deducted from these balances. 2018 Up to 1 month Over 1 month and up to 3 months Over 3 month and up to 12 months Subtotal up to 1 year Over 1 year and up to 3 years Over 3 year and up to 5 years Over 5 years Subtotal over 1 year Total Liabilities MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Current accounts and other demand deposits 9,584,488 ― ― 9,584,488 ― ― ― ― 9,584,488 Transactions in the course of payment 44,436 ― ― 44,436 ― ― ― ― 44,436 Obligations under repurchase agreements 237,999 1,448 64,373 303,820 ― ― ― ― 303,820 Savings accounts and time deposits (**) 5,018,791 1,946,688 3,100,464 10,065,943 365,177 619 132 365,928 10,431,871 Derivative instruments 146,764 237,039 335,497 719,300 264,438 273,790 270,706 808,934 1,528,234 Borrowings from financial institutions 115,220 269,412 1,052,830 1,437,462 79,297 ― ― 79,297 1,516,759 Debt issued: Mortgage bonds 1,453 1,618 3,581 6,652 5,911 2,577 1,228 9,716 16,368 Bonds 325,766 275,688 583,876 1,185,330 844,692 1,505,660 3,237,308 5,587,660 6,772,990 Subordinate bonds 4,220 2,254 44,901 51,375 41,122 27,906 565,791 634,819 686,194 Other financial obligations 97,393 3,505 10,126 111,024 5,555 1,307 128 6,990 118,014 Total financial liabilities 15,576,530 2,737,652 5,195,648 23,509,830 1,606,192 1,811,859 4,075,293 7,493,344 31,003,174 2019 Up to 1 month Over 1 month and up to Over 3 month and up to 12 months Subtotal up to 1 year Over 1 year and up to 3 years Over 3 year and up to 5 years Over 5 years Subtotal over 1 year Total Liabilities MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Current accounts and other demand deposits 11,326,133 ― ― 11,326,133 ― ― ― ― 11,326,133 Transactions in the course of payment 98,869 ― ― 98,869 ― ― ― ― 98,869 Obligations under repurchase agreements 298,711 8,583 1,440 308,734 ― ― ― ― 308,734 Savings accounts and time deposits (**) 6,130,583 1,979,110 2,224,778 10,334,471 281,384 492 421 282,297 10,616,768 Derivative instruments 156,291 237,743 616,472 1,010,506 608,516 469,861 729,538 1,807,915 2,818,421 Borrowings from financial institutions 69,711 349,478 1,049,781 1,468,970 94,307 ― ― 94,307 1,563,277 Debt issued: Mortgage bonds 1,102 1,212 2,622 4,936 3,868 1,579 515 5,962 10,898 Bonds 423,966 211,648 413,485 1,049,099 1,460,318 1,746,745 3,656,459 6,863,522 7,912,621 Subordinate bonds 3,041 2,460 115,933 121,434 38,525 18,251 711,685 768,461 889,895 Other financial obligations 140,449 1,436 6,490 148,375 6,383 1,471 ― 7,854 156,229 Lease liabilities 2,353 4,776 20,841 27,970 51,571 28,463 38,009 118,043 146,013 Total financial liabilities 18,651,209 2,796,446 4,451,842 25,899,497 2,544,872 2,266,862 5,136,627 9,948,361 35,847,858 (**) Excludes term saving accounts, which amount to Ch$239,850 million (Ch$224,303 million in December 2018). |
Risk Management (Tables)
Risk Management (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of nature and extent of risks arising from financial instruments [abstract] | |
Schedule of credit risk exposure per balance sheet item, including derivatives, detailed by both geographic region and industry sector | Chile United States Brazil Other Total MCh$ MCh$ MCh$ MCh$ MCh$ Financial Assets Cash and Due from Banks 773,368 69,343 ― 37,370 880,081 Financial Assets held-for-trading From the Chilean Government and Central Bank of Chile 1,523,472 ― ― ― 1,523,472 Other instruments issued in Chile 129,607 ― ― ― 129,607 Instruments issued abroad ― 4,446 ― ― 4,446 Mutual fund investments 87,841 ― 87,841 Subtotal 1,740,920 4,446 ― ― 1,745,366 Investments under resale agreements 97,289 ― ― ― 97,289 Derivative Contracts for Trading Purposes Forwards 670,595 23,082 ― 41,767 735,444 Swaps 453,191 98,414 ― 186,525 738,130 Call Options 4,309 ― ― 530 4,839 Put Options 56 ― ― 64 120 Futures ― ― ― ― ― Subtotal 1,128,151 121,496 ― 228,886 1,478,533 Hedge Derivative Contracts Forwards ― ― ― ― ― Swaps 4,547 14,348 ― 16,519 35,414 Call Options ― ― ― ― ― Put Options ― ― ― ― ― Futures ― ― ― ― ― Others ― ― ― ― ― Subtotal 4,547 14,348 ― 16,519 35,414 Loans and advances to Banks (before allowances) Central Bank of Chile 1,100,831 ― ― ― 1,100,831 Domestic banks 100,023 ― ― ― 100,023 Foreign banks ― ― 209,693 84,849 294,542 Subtotal 1,200,854 ― 209,693 84,849 1,495,396 Loans to Customers at amortized cost (before allowances) Commercial loans 15,344,854 ― 354 93,190 15,438,398 Residential mortgage loans 8,052,073 ― ― ― 8,052,073 Consumer loans 4,436,161 ― ― ― 4,436,161 Subtotal 27,833,088 ― 354 93,190 27,926,632 Financial Assets at Fair Value through OCI Debt Instruments: From the Chilean government and Central Bank 164,222 ― ― ― 164,222 Other instruments issued in Chile 770,674 ― ― ― 770,674 Instruments issued abroad ― 108,544 ― ― 108,544 Subtotal 934,896 108,544 ― ― 1,043,440 Equity Instruments: Other instruments issued in Chile 8,939 ― ― ― 8,939 Instruments issued abroad ― ― ― 812 812 Subtotal 8,939 ― ― 812 9,751 Total 943,835 108,544 812 1,053,191 Financial Services Chilean Central Bank Government Retail (Individuals) Trade Manufacturing Mining Electricity, Gas and Water Agriculture and Livestock Fishing Transportation and Telecom Construction Services Other Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Financial Assets Cash and Due from Banks 758,274 121,807 ― ― ― ― ― ― ― ― ― ― ― ― 880,081 Financial Assets held-for-trading From the Chilean Government and Central Bank of Chile ― 1,434,986 88,486 ― ― ― ― ― ― ― ― ― ― ― 1,523,472 Other instruments issued in Chile 129,607 ― ― ― ― ― ― ― ― ― ― ― ― ― 129,607 Instruments issued abroad 4,446 ― ― ― ― ― ― ― ― ― ― ― ― ― 4,446 Mutual fund investment 87,841 ― ― ― ― ― ― ― ― ― ― ― ― ― 87,841 Subtotal 221,894 1,434,986 88,486 ― ― ― ― ― ― ― ― ― ― ― 1,745,366 Investments under resale agreements 29,031 742 ― ― 37,520 ― 5,017 4,466 3,096 59 15,637 ― 985 736 97,289 Derivative Contracts for Trading Purposes Forwards 374,006 ― ― ― 7,194 13,328 40 10,288 4,211 411 98 455 296 325,117 735,444 Swaps 584,743 ― ― ― 51,916 7,348 22 4,026 10,006 2,249 2,235 680 74,250 655 738,130 Call Options 1,669 ― ― ― 389 16 ― 1,090 1,489 80 ― 59 36 11 4,839 Put Options 64 ― ― ― 51 5 ― ― ― ― ― ― ― ― 120 Futures ― ― ― ― ― ― ― ― ― ― ― ― ― ― ― Subtotal 960,482 ― ― ― 59,550 20,697 62 15,404 15,706 2,740 2,333 1,194 74,582 325,783 1,478,533 Hedge Derivative Contracts Forwards ― ― ― ― ― ― ― ― ― ― ― ― ― ― ― Swaps 35,414 ― ― ― ― ― ― ― ― ― ― ― ― ― 35,414 Call Options ― ― ― ― ― ― ― ― ― ― ― ― ― ― ― Put Options ― ― ― ― ― ― ― ― ― ― ― ― ― ― ― Futures ― ― ― ― ― ― ― ― ― ― ― ― ― ― ― Subtotal 35,414 ― ― ― ― ― ― ― ― ― ― ― ― ― 35,414 Loans and advances to Banks Central Bank of Chile ― 1,100,831 ― ― ― ― ― ― ― ― ― ― ― ― 1,100,831 Domestic banks 100,023 ― ― ― ― ― ― ― ― ― ― ― ― ― 100,023 Foreign banks 294,542 ― ― ― ― ― ― ― ― ― ― ― ― ― 294,542 Subtotal 394,565 1,100,831 ― ― ― ― ― ― ― ― ― ― ― ― 1,495,396 Loans to Customers at amortized cost Commercial loans 2,122,599 ― ― ― 2,324,325 1,579,475 453,549 461,351 1,582,520 156,472 1,498,142 1,752,237 2,109,491 1,398,237 15,438,398 Residential mortgage loans ― ― ― 8,052,073 ― ― ― ― ― ― ― ― ― ― 8,052,073 Consumer loans ― ― ― 4,436,161 ― ― ― ― ― ― ― ― ― ― 4,436,161 Subtotal 2,122,599 ― ― 12,488,234 2,324,325 1,579,475 453,549 461,351 1,582,520 156,472 1,498,142 1,752,237 2,109,491 1,398,237 27,926,632 Financial Assets at Fair Value through OCI Debt Instruments: From the Chilean Government and Central Bank of Chile ― 135,145 29,077 ― ― ― ― ― ― ― ― ― ― ― 164,222 Other instruments issued in Chile 680,656 ― ― ― 22,390 ― ― 8,245 ― ― 4,938 ― ― 54,445 770,674 Instruments issued abroad 108,544 ― ― ― ― ― ― ― ― ― ― ― ― ― 108,544 Subtotal 789,200 135,145 29,077 ― 22,390 ― ― 8,245 ― ― 4,938 ― ― 54,445 1,043,440 Equity Instruments: Instruments issued in Chile 8,939 ― ― ― ― ― ― ― ― ― ― ― ― ― 8,939 Instruments issued abroad 812 ― ― ― ― ― ― ― ― ― ― ― ― ― 812 Subtotal 9,751 ― ― ― ― ― ― ― ― ― ― ― ― ― 9,751 Total 798,951 135,145 29,077 ― 22,390 ― ― 8,245 ― ― 4,938 ― ― 54,445 1,053,191 The following tables show credit risk exposure per balance sheet item, including derivatives, detailed by both geographic region and industry sector as of December 31, 2019: Chile United States Brazil Other Total MCh$ MCh$ MCh$ MCh$ MCh$ Financial Assets Cash and Due from Banks 1,144,109 1,145,703 ― 102,354 2,392,166 Financial Assets held-for-trading From the Chilean Government and Central Bank of Chile 1,123,689 ― ― ― 1,123,689 Other instruments issued in Chile 375,337 ― ― ― 375,337 Instruments issued abroad ― ― ― ― ― Mutual fund investments 373,329 ― ― ― 373,329 Subtotal 1,872,355 ― ― ― 1,872,355 Investments under resale agreements 142,329 ― ― ― 142,329 Derivative Contracts for Trading Purposes Forwards 872,481 53,923 ― 30,228 956,632 Swaps 1,142,174 167,818 ― 451,960 1,761,952 Call Options 4,961 ― ― ― 4,961 Put Options 807 11 ― 258 1,076 Futures ― ― ― ― ― Subtotal 2,020,423 221,752 ― 482,446 2,724,621 Hedge Derivative Contracts Forwards ― ― ― ― ― Swaps 5,864 25,780 ― 29,950 61,594 Call Options ― ― ― ― ― Put Options ― ― ― ― ― Futures ― ― ― ― ― Others ― ― ― ― ― Subtotal 5,864 25,780 ― 29,950 61,594 Loans and advances to Banks (before allowances) Central Bank of Chile 630,053 ― ― ― 630,053 Domestic banks 150,007 ― ― ― 150,007 Foreign banks ― ― 244,969 115,162 360,131 Subtotal 780,060 ― 244,969 115,162 1,140,191 Loans to Customers at amortized cost (before allowances) Commercial loans 16,279,527 ― ― 14,685 16,294,212 Residential mortgage loans 9,206,727 ― ― ― 9,206,727 Consumer loans 4,532,333 ― ― ― 4,532,333 Subtotal 30,018,587 ― ― 14,685 30,033,272 Financial assets available-for-sale Debt Instruments: From the Chilean government and Central Bank 109,062 ― ― ― 109,062 Other instruments issued in Chile 1,228,931 ― ― ― 1,228,931 Instruments issued abroad ― ― ― 19,853 19,853 Subtotal 1,337,993 ― ― 19,853 1,357,846 Equity Instruments: Instruments issued in Chile 7,446 ― ― ― 7,446 Instruments issued abroad ― ― ― 1,051 1,051 Subtotal 7,446 ― ― 1,051 8,497 Total 1,345,439 ― ― 20,904 1,366,343 Financial Services Chilean Central Bank Government Retail (Individuals) Trade Manufacturing Mining Electricity, Gas and Water Agriculture and Livestock Fishing Transportation and Telecom Construction Services Other Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Financial Assets Cash and Due from Banks 2,213,737 178,429 ― ― ― ― ― ― ― ― ― ― ― ― 2,392,166 Financial Assets held-for-trading From the Chilean Government and Central Bank of Chile ― 1,024,525 99,164 ― ― ― ― ― ― ― ― ― ― ― 1,123,689 Other instruments issued in Chile 375,337 ― ― ― ― ― ― ― ― ― ― ― ― ― 375,337 Instruments issued abroad ― ― ― ― ― ― ― ― ― ― ― ― ― ― ― Mutual fund investment 373,329 ― ― ― ― ― ― ― ― ― ― ― ― ― 373,329 Subtotal 748,666 1,024,525 99,164 ― ― ― ― ― ― ― ― ― ― ― 1,872,355 Investments under resale agreements 66,285 ― 18,460 278 40,642 ― 2,067 1,533 902 35 8,665 21 ― 3,441 142,329 Derivative Contracts for Trading Purposes Forwards 480,269 ― ― 1,532 16,225 79 2,856 22,903 14,103 642 1,930 277 497 415,319 956,632 Swaps 1,693,048 ― ― 4 9,813 7,718 19 14,184 10,232 4,275 12,526 210 ― 9,923 1,761,952 Call Options 1,196 ― ― ― 1,569 280 ― ― 1,433 171 ― 84 190 38 4,961 Put Options 554 ― ― ― 522 ― ― ― ― ― ― ― ― ― 1,076 Futures ― ― ― ― ― ― ― ― ― ― ― ― ― ― ― Subtotal 2,175,067 ― ― 1,536 28,129 8,077 2,875 37,087 25,768 5,088 14,456 571 687 425,280 2,724,621 Hedge Derivative Contracts Forwards ― ― ― ― ― ― ― ― ― ― ― ― ― ― ― Swaps 61,594 ― ― ― ― ― ― ― ― ― ― ― ― ― 61,594 Call Options ― ― ― ― ― ― ― ― ― ― ― ― ― ― ― Put Options ― ― ― ― ― ― ― ― ― ― ― ― ― ― ― Futures ― ― ― ― ― ― ― ― ― ― ― ― ― ― ― Subtotal 61,594 ― ― ― ― ― ― ― ― ― ― ― ― ― 61,594 Loans and advances to Banks Central Bank of Chile ― 630,053 ― ― ― ― ― ― ― ― ― ― ― ― 630,053 Domestic banks 150,007 ― ― ― ― ― ― ― ― ― ― ― ― ― 150,007 Foreign banks 360,131 ― ― ― ― ― ― ― ― ― ― ― ― ― 360,131 Subtotal 510,138 630,053 ― ― ― ― ― ― ― ― ― ― ― ― 1,140,191 Loans to Customers at amortized cost Commercial loans 2,587,559 ― ― ― 2,066,372 1,624,972 604,660 325,143 1,623,465 140,709 1,234,087 2,142,699 2,267,869 1,676,677 16,294,212 Residential mortgage loans ― ― ― 9,206,727 ― ― ― ― ― ― ― ― ― ― 9,206,727 Consumer loans ― ― ― 4,532,333 ― ― ― ― ― ― ― ― ― ― 4,532,333 Subtotal 2,587,559 ― ― 13,739,060 2,066,372 1,624,972 604,660 325,143 1,623,465 140,709 1,234,087 2,142,699 2,267,869 1,676,677 30,033,272 Financial Assets at Fair Value through OCI Debt Instruments: From the Chilean Government and Central Bank of Chile ― 92,824 16,238 ― ― ― ― ― ― ― ― ― ― ― 109,062 Other instruments issued in Chile 994,658 ― ― ― ― ― ― 9,667 ― ― ― 178,444 ― 46,162 1,228,931 Instruments issued abroad 19,853 ― ― ― ― ― ― ― ― ― ― ― ― ― 19,853 Subtotal 1,014,511 92,824 16,238 ― ― ― ― 9,667 ― ― ― 178,444 ― 46,162 1,357,846 Equity Instruments: Instruments issued in Chile 7,446 ― ― ― ― ― ― ― ― ― ― ― ― ― 7,446 Instruments issued abroad 1,051 ― ― ― ― ― ― ― ― ― ― ― ― ― 1,051 Subtotal 8,497 ― ― ― ― ― ― ― ― ― ― ― ― ― 8,497 Total 1,023,008 92,824 16,238 ― ― ― ― 9,667 ― ― ― 178,444 ― 46,162 1,366,343 |
Schedule of guarantee values | Fair value of collateral and credit enhancements held as of December 31, 2018 Maximum exposure to credit risk Mortgages Pledge Securities Warrants Others Net Net Loans to customers: MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Corporate lending 11,705,859 2,589,429 75,105 423,556 2,263 221,919 3,312,272 8,393,587 Small business lending 3,732,539 2,977,286 31,270 28,974 ― 71,140 3,108,670 623,869 Consumer lending 4,436,161 332,030 967 2,244 ― 20,090 355,331 4,080,830 Mortgage lending 8,052,073 7,493,073 58 265 ― ― 7,493,396 558,677 Total 27,926,632 13,391,818 107,400 455,039 2,263 313,149 14,269,669 13,656,963 Fair value of collateral and credit enhancements held as of December 31, 2019 Maximum exposure to credit risk Mortgages Pledge (*) Securities Warrants Others Net collateral Net exposure Loans to customers: MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Corporate lending 12,117,724 2,453,533 82,365 345,246 2,182 207,052 3,090,378 9,027,346 Small business lending 4,176,488 3,133,480 30,466 26,674 ― 74,725 3,265,345 911,143 Consumer lending 4,532,333 341,495 966 2,045 ― 20,646 365,152 4,167,181 Mortgage lending 9,206,727 8,019,519 51 176 ― ― 8,019,746 1,186,981 Total 30,033,272 13,948,027 113,848 374,141 2,182 302,423 14,740,621 15,292,651 (*) Includes agricultural and industrial pledges, and pledges without conveyance. |
Schedule of credit quality by asset class, based on the Bank's credit rating system | As of December 31, 2018: Default 1 to 29 days 30 to 59 days 60 to 89 days MCh$ MCh$ MCh$ Loans and advances to banks 273 ― ― Subtotal past-due loans and advances to banks 273 ― ― Commercial loans 132,707 40,823 27,527 Import-export financing 13,892 2,194 618 Factoring transactions 44,106 7,540 726 Commercial lease transactions 92,057 6,166 3,230 Other loans and receivables 1,462 777 470 Residential mortgage loans 154,751 67,257 24,653 Consumer loans 217,923 102,752 40,782 Subtotal past-due loans to customers 656,898 227,509 98,006 Total 657,171 227,509 98,006 As of December 31, 2019: Default 1 to 29 days 30 to 59 days 60 to 89 days MCh$ MCh$ MCh$ Loans and advances to banks 31,249 ― ― Subtotal past-due loans and advances to banks 31,249 ― ― Commercial loans 213,709 54,366 26,698 Import-export financing 9,562 804 1,207 Factoring transactions 31,972 3,022 336 Commercial lease transactions 53,742 8,073 4,722 Other loans and receivables 1,463 693 521 Residential mortgage loans 152,539 73,801 32,907 Consumer loans 221,162 102,344 51,976 Subtotal past-due loans to customers 684,149 243,103 118,367 Total 715,398 243,103 118,367 |
Schedule of aging analysis of loans | Past due but not impaired (*) As of Neither past due or impaired Up to 30 days Over 30 days and up to 60 days Over 60 days and up to 90 days Over 90 days Total December 31, MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ 2018 26,376,542 538,681 145,130 37,371 2,566 27,100,290 2019 28,320,610 599,833 159,756 57,946 595 29,138,740 (*) These amounts include installments that are overdue, plus the remaining balance of principal and interest on such loans. |
Schedule of book value of loans with renegotiated terms | 2018 2019 Financial assets MCh$ MCh$ Loans and advances to banks Domestic banks ― ― Foreign banks ― ― Subtotal ― ― Loans to Customers at amortized cost Commercial loans 192,646 220,056 Residential mortgage loans 14,463 11,980 Consumer loans 362,562 366,339 Subtotal 569,671 598,375 Total renegotiated financial assets 569,671 598,375 |
Schedule of amortized costs and net loss of modified financial assets | 2019 MCh$ Amortized costs of financial assets modified during the period 227,718 Net modification loss 81,974 |
Schedule of gross carrying amount of previously modified financial assets for which loss allowances has changed to 12 month Expected Credit Losses (12mECL) measurement during the period | December 31, 2019 Post modification Pre-modification Gross carrying amount MCh$ Corresponding ECL MCh$ Gross carrying amount MCh$ Corresponding ECL MCh$ Facilities that have cured since modification and are now measured using 12mECLs (Stage 1) 32,105 3,668 32,870 7,577 Facilities that reverted to (Stage 2/3) lifetime ECLs having once cured 4,043 1,132 3,927 613 |
Schedule of use of MAR | MAR LCCY + FCCY MMM$ MAR FCCY MMUS$ 1 – 30 days 1 – 90 days 1 – 30 days 1 – 90 days Maximum 3,352 5,498 1,999 3,254 Minimum 1,705 3,993 1 1,407 Average 2,621 4,841 1,052 2,479 |
Schedule of use of Cross Currency Funding | Cross Currency Funding MMUS$ Maximum 3,339 Minimum 1,742 Average 2,640 |
Schedule of financial ratios | Liquid Assets/ Net Funding <30 days Liabilities>1 year/ Assets >1 year Deposits/ Loans Maximum 103 % 82 % 62 % Minimum 82 % 76 % 58 % Average 92 % 78 % 60 % |
Schedules for calculation of C46 regulatory information | Adjusted C46 All CCYs as part of Tier-1 Capital Adjusted C46 FCCY as part of Tier-1 Capital 1 – 30 days 1 – 90 days 1 – 30 days Maximum 0.56 0.79 0.42 Minimum 0.32 0.55 0.15 Average 0.49 0.69 0.28 Regulatory Limit 1.0 2.0 1.0 |
Schedule of the LCR and the NSFR | LCR NSFR Maximum 1.17 1.02 Minimum 0.88 0.97 Average 0.99 0.99 Regulatory Limit 0.6 (*) N/A |
Schedule of contractual maturity of financial liabilities | Up to 1 month 1 to 3 months 3 to 12 months 1 to 3 years 3 to 5 years Over 5 years Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Liabilities as of December 31, 2018 Current accounts and other demand deposits 9,584,488 ― ― ― ― ― 9,584,488 Transactions in the course of payment 44,436 ― ― ― ― ― 44,436 Obligations under repurchase agreements 292,231 1,440 5,137 ― ― ― 298,808 Savings accounts and time deposits 5,344,294 1,981,221 3,152,103 373,398 619 132 10,851,767 Full delivery derivative transactions 351,496 190,643 648,870 582,628 536,506 592,303 2,902,446 Borrowings from financial institutions 97,661 268,795 946,950 183,206 ― ― 1,496,612 Other financial obligations 92,896 730 4,857 18,406 366 35 117,290 Debt instruments issued 101,707 267,665 724,724 1,410,766 1,899,529 4,303,542 8,707,933 Total (excluding non-delivery derivative transactions) 15,909,209 2,710,494 5,482,641 2,568,404 2,437,020 4,896,012 34,003,780 Non - delivery derivative transactions 297,613 604,200 1,028,798 712,286 593,431 1,209,282 4,445,610 Up to 1 month 1 to 3 months 3 to 12 months 1 to 3 years 3 to 5 years Over 5 years Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Liabilities as of December 31, 2019 Current accounts and other demand deposits 11,326,133 — — — — — 11,326,133 Transactions in the course of payment 98,869 — — — — — 98,869 Obligations under repurchase agreements 297,011 8,582 — — — — 305,593 Savings accounts and time deposits 6,421,107 1,985,948 2,250,153 284,073 491 421 10,942,193 Full delivery derivative transactions 378,151 351,351 1,132,429 974,371 669,851 797,191 4,303,344 Borrowings from financial institutions 68,843 348,228 934,144 206,811 — — 1,558,026 Other financial obligations 142,010 292 17,529 727 167 — 160,725 Debt instruments issued 178,310 190,329 576,309 2,091,841 2,081,579 5,017,172 10,135,540 Total (excluding non-delivery derivative transactions) 18,910,434 2,884,730 4,910,564 3,557,823 2,752,088 5,814,784 38,830,423 Non - delivery derivative transactions 501,461 839,534 1,461,804 796,805 738,830 1,650,402 5,988,836 |
Schedule of use of VaR | Value-at-Risk 99% one-day confidence level Maximum 872 Minimum 176 Average 562 |
Schedule of use of EaR | 12-months Earnings-at-Risk 99% confidence level 3 months defeasance period MCh$ Maximum 54,372 Minimum 45,023 Average 47,743 |
Schedule of banking book interest rate exposure by contractual maturity | Up to 1 month Between 1 and 3 months Between 3 and 12 months Between 1 and 3 years Between 3 and 5 years More than 5 years Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Assets as of December 31, 2018 Cash and due from banks 844,173 ― ― ― ― ― 844,173 Transactions in the course of collection 151,701 ― ― ― ― ― 151,701 Investment under resale agreements 3,161 ― ― ― ― ― 3,161 Derivative instruments under hedge-accounting treatment 20 140,631 253,266 176,330 229,092 717,331 1,516,670 Inter-banking loans 1,262,749 79,199 133,689 24,337 ― ― 1,499,974 Customer loans 2,305,334 2,311,297 5,784,455 8,402,372 3,923,096 9,721,138 32,447,692 Financial assets available-for-sale 48,469 153,479 408,390 146,136 58,093 230,003 1,044,570 Total assets 4,615,607 2,684,606 6,579,800 8,749,175 4,210,281 10,668,472 37,507,941 Assets as of December 31, 2019 Cash and due from banks 2,310,055 ― ― ― ― ― 2,310,055 Transactions in the course of collection 230,605 ― ― ― ― ― 230,605 Investment under resale agreements 45,056 ― ― ― ― ― 45,056 Derivative instruments under hedge-accounting treatment 774 36,304 28,302 257,909 348,950 1,069,919 1,742,158 Inter-banking loans 876,508 98,673 167,287 ― ― ― 1,142,468 Customer loans 3,179,665 2,524,282 6,473,441 6,979,231 3,980,097 10,744,559 33,881,275 Financial Assets at Fair Value through OCI 26,180 241,326 805,844 115,805 25,219 142,005 1,356,379 Total assets 6,668,843 2,900,585 7,474,874 7,352,945 4,354,266 11,956,483 40,707,996 Up to 1 month Between 1 and 3 months Between 3 and 12 months Between 1 and 3 years Between 3 and 5 years More than 5 years Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Liabilities as of December 31, 2018 Current accounts and demand deposits 9,622,073 ― ― ― ― ― 9,622,073 Transactions in the course of payment ― ― ― ― ― ― ― Obligations under repurchase agreements 6,963 ― ― ― ― ― 6,963 Savings accounts and interest-bearing deposits 5,273,096 1,981,221 3,152,103 373,398 619 71,330 10,851,767 Derivative instruments under hedge-accounting treatment 115 144,525 243,151 187,522 222,201 715,536 1,513,050 Inter-banking borrowings 97,661 268,795 946,950 183,206 ― ― 1,496,612 Long-term debt (*) 101,707 267,665 724,724 1,410,766 1,899,529 4,303,542 8,707,933 Other liabilities 92,896 730 4,857 18,406 366 35 117,290 Total liabilities 15,194,511 2,662,936 5,071,785 2,173,298 2,122,715 5,090,443 32,315,688 Liabilities as of December 31, 2019 Current accounts and demand deposits 11,382,462 ― ― ― ― ― 11,382,462 Transactions in the course of payment 3,423 ― ― ― ― ― 3,423 Obligations under repurchase agreements 9,068 ― ― ― ― ― 9,068 Savings accounts and interest-bearing deposits 6,421,107 1,985,948 2,250,153 284,073 491 421 10,942,193 Derivative instruments under hedge-accounting treatment 156 33,740 23,300 251,136 317,886 1,117,967 1,744,185 Inter-banking borrowings 60,331 348,228 934,144 206,811 ― ― 1,549,514 Long-term debt (*) 178,310 190,329 576,309 2,091,841 2,081,579 5,017,172 10,135,540 Other liabilities 142,010 292 17,529 727 167 ― 160,725 Total liabilities 18,196,867 2,558,537 3,801,435 2,834,588 2,400,123 6,135,560 35,927,110 (*) Amounts shown here are different from those reported in the liabilities report which is part of the liquidity analysis, due to differences in the treatment of mortgage bonds issued by the Bank in both reports. |
Schedule of Adverse scenario market factors fluctuations | Average Fluctuations of Market Factors for Maximum Stress Scenario Trading Book CLP CLP CLF CLF USD Offshore Libor Spread USD Less than 1 year 103 47 163 108 -62 -9 Greater than 1 year 38 69 92 123 -73 -2 |
Schedule of Potential Profit and Loss Impact on Trading Book | Most Adverse Stress Scenario P&L Impact Trading Book (MCh$) CLP Interest Rate (4,968 ) Derivatives (3,006 ) Debt instruments (1,962 ) CLF Interest Rate (8,694 ) Derivatives (2,600 ) Debt instruments (6,094 ) Interest rate USD offshore (1,963 ) Domestic/offshore interest rate spread USD (50 ) Total Interest rates (15,675 ) Total FX (16 ) Total FX Options 224 Total (15,467 ) |
Schedule of NRFF impact on accrual book for next 12-months | Most Adverse Stress Scenario 12-Month Revenue Accrual Book (MCh$) Impact by Base Interest Rate shocks (164,322 ) Impact due to Spreads Shocks (67 ) Higher / (Lower) Net revenues (164,389 ) |
Schedule of risk weighted assets, Basic Capital ratio and Regulatory Capital ratio | Consolidated assets Risk-weighted assets 2018 2019 2018 2019 MCh$ MCh$ MCh$ MCh$ Balance sheet assets (net of provisions) Cash and due from banks 880,081 2,392,166 13,084 38,250 Transactions in the course of collection 289,194 331,420 186,536 167,781 Financial Assets held-for-trading 1,745,366 1,872,355 134,412 462,177 Investment under resale agreements 97,289 142,329 97,289 142,329 Derivative instruments (*) 1,310,262 1,555,749 916,798 1,124,730 Loans and advances to banks 1,494,384 1,140,081 313,524 389,417 Loans to Customers at amortized cost 27,341,254 29,384,039 24,102,808 25,668,329 Financial assets at fair value through OCI 1,053,191 1,366,343 356,568 323,160 Financial assets held to maturity ― ― ― ― Investments in other companies 42,252 48,442 44,561 50,758 Intangible assets 85,471 91,717 52,061 58,307 Property and equipment 215,872 220,262 215,872 220,262 Leased assets ― 150,665 ― 150,665 Investment properties 13,938 13,190 ― ― Current tax assets 677 357 68 36 Deferred tax assets 176,823 231,293 27,792 32,095 Other assets 651,691 843,000 673,380 862,968 Subtotal 35,397,745 39,783,408 27,134,753 29,691,264 Off-balance-sheet assets Contingent loans 4,266,821 4,365,922 2,559,197 2,616,074 Total 39,664,566 44,149,330 29,693,950 32,307,338 (*) Financial derivative contracts are presented as an equivalent credit risk for the purposes of calculating consolidated assets. As of December 31, 2018 2019 MCh$ MCh$ Basic capital (*) (**) 3,304,152 3,528,222 Effective equity 4,129,999 4,569,090 Total consolidated assets (**) 39,989,595 44,408,789 Total consolidated assets weighted by credit risk 29,693,950 32,307,338 (*) The Basic Capital corresponds to the equity of the owners of the Bank in the Consolidated Statement of Financial Position. (**) The total consolidated assets is presented in accordance with Chilean Generally Accepted Accounting Principles as issued by the Chilean Commission for Financial Market ("CMF"). As a result, it is not directly comparable with this Consolidated Statement of Financial Position. Ratio As of December 31, 2018 2019 % % Basic capital / consolidated assets 8.26 7.94 Effective equity / consolidated assets weighted by risk 13.91 14.14 |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies (Details) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Banchile Administradora General de Fondos S.A. [Member] | ||
Significant investments in subsidiaries | ||
Percentage of interest owned by parent | 99.98% | 99.98% |
Percentage of interest owned by subsidiaries in group | 0.02% | 0.02% |
Consolidated controlling interest in subsidiaries | 100.00% | 100.00% |
Banchile Asesoría Financiera S.A. [Member] | ||
Significant investments in subsidiaries | ||
Percentage of interest owned by parent | 99.96% | 99.96% |
Consolidated controlling interest in subsidiaries | 99.96% | 99.96% |
Banchile Corredores de Seguros Ltda. [Member] | ||
Significant investments in subsidiaries | ||
Percentage of interest owned by parent | 99.83% | 99.83% |
Percentage of interest owned by subsidiaries in group | 0.17% | 0.17% |
Consolidated controlling interest in subsidiaries | 100.00% | 100.00% |
Banchile Corredores de Bolsa S.A. [Member] | ||
Significant investments in subsidiaries | ||
Percentage of interest owned by parent | 99.70% | 99.70% |
Percentage of interest owned by subsidiaries in group | 0.30% | 0.30% |
Consolidated controlling interest in subsidiaries | 100.00% | 100.00% |
Banchile Securitizadora S.A. [Member] | ||
Significant investments in subsidiaries | ||
Percentage of interest owned by parent | 99.01% | 99.01% |
Percentage of interest owned by subsidiaries in group | 0.99% | 0.99% |
Consolidated controlling interest in subsidiaries | 100.00% | 100.00% |
Socofin S.A. [Member] | ||
Significant investments in subsidiaries | ||
Percentage of interest owned by parent | 99.00% | 99.00% |
Percentage of interest owned by subsidiaries in group | 1.00% | 1.00% |
Consolidated controlling interest in subsidiaries | 100.00% | 100.00% |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies - Loans (Details) | 12 Months Ended |
Dec. 31, 2019 | |
Consumer loans - secured and unsecured [Member] | |
Statement Line Items [Line Items] | |
Maximum period allowed to written off loans | 6 months |
Other transactions - unsecured [Member] | |
Statement Line Items [Line Items] | |
Maximum period allowed to written off loans | 24 months |
Commercial loans - secured [Member] | |
Statement Line Items [Line Items] | |
Maximum period allowed to written off loans | 36 months |
Residential mortgage loans [Member] | |
Statement Line Items [Line Items] | |
Maximum period allowed to written off loans | 48 months |
Consumer leases [Member] | |
Statement Line Items [Line Items] | |
Maximum period allowed to written off loans | 6 months |
Other non-real estate lease transactions [Member] | |
Statement Line Items [Line Items] | |
Maximum period allowed to written off loans | 12 months |
Real estate leases (commercial or residential) [Member] | |
Statement Line Items [Line Items] | |
Maximum period allowed to written off loans | 36 months |
Summary of Significant Accoun_6
Summary of Significant Accounting Policies - Estimated useful life of assets (Details) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Property and Equipment | ||
Estimated useful life | 6 years | |
Buildings [Member] | ||
Property and Equipment | ||
Estimated useful life | 50 years | 50 years |
Installations (in general) [Member] | ||
Property and Equipment | ||
Estimated useful life | 10 years | 10 years |
Equipment [Member] | ||
Property and Equipment | ||
Estimated useful life | 5 years | 5 years |
Office furniture [Member] | ||
Property and Equipment | ||
Estimated useful life | 5 years | 5 years |
Summary of Significant Accoun_7
Summary of Significant Accounting Policies (Details Textual) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019CLP ($)Segment | Dec. 31, 2018CLP ($)Segment | Dec. 31, 2017CLP ($) | |
Disclosure of detailed information about financial instruments | |||
Gain on net foreign exchange income | $ | $ 30,886 | $ 2,701 | $ 104,875 |
Threshold retiring period for specified employees to whom payments are made | 30 years | ||
Estimated useful life | 6 years | ||
Threshold nonperforming period for substandard loans | 30 days | ||
Minimum number of installments overdue to be classified as non-compliant | 1 | ||
Threshold past due period for non-complying loans | 90 days | ||
Minimum [Member] | |||
Disclosure of detailed information about financial instruments | |||
Voting rights | 20.00% | ||
Maximum [Member] | |||
Disclosure of detailed information about financial instruments | |||
Voting rights | 50.00% | ||
Staff Severance Indemnities Plan [Member] | |||
Disclosure of detailed information about financial instruments | |||
Discount rate for long term | 3.17% | 4.25% | |
Past service costs | $ | $ 0 | ||
EUR [Member] | |||
Disclosure of detailed information about financial instruments | |||
Foreign exchange rate | 843.31 | 793.96 | |
USD [Member] | |||
Disclosure of detailed information about financial instruments | |||
Foreign exchange rate | 751.88 | 693.60 | |
JPY [Member] | |||
Disclosure of detailed information about financial instruments | |||
Foreign exchange rate | 6.91 | 6.29 |
Changes in Accounting Policie_2
Changes in Accounting Policies and Disclosures (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2019CLP ($) | |
Changes in Accounting policies and Disclosures [abstract] | |
Amount for lease liability | $ 144,497 |
Segment Reporting (Details)
Segment Reporting (Details) - CLP ($) $ in Millions | 12 Months Ended | |||||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||||
Disclosure of operating segments [line items] | ||||||
Net interest income | $ 1,371,278 | $ 1,320,977 | $ 1,234,695 | |||
Net fees and commissions income | 457,302 | 359,955 | 347,674 | |||
Other operating income | 176,638 | 165,138 | 105,173 | |||
Total operating revenues | 2,005,218 | 1,846,070 | 1,687,542 | |||
Provisions for loan losses | (331,601) | (249,771) | (221,255) | |||
Depreciation and amortization | (70,541) | (37,681) | (37,536) | |||
Other operating expenses | (831,709) | (802,027) | (746,820) | |||
Income attributable to associates | 6,039 | 6,811 | 5,511 | |||
Income before income taxes | 777,406 | 763,402 | 687,442 | |||
Income taxes | (173,661) | (159,768) | (115,361) | |||
Income after income taxes | 603,745 | 603,634 | 572,081 | |||
Assets | 40,782,224 | 35,423,930 | 32,377,140 | |||
Current and deferred taxes | 231,650 | 177,500 | 184,297 | |||
Total assets | 41,013,874 | 35,601,430 | ||||
Liabilities | 37,031,824 | 31,922,807 | 29,012,636 | |||
Current and deferred taxes | 76,289 | 4,907 | 3,453 | |||
Total liabilities | 37,108,113 | 31,927,714 | 29,016,089 | |||
Operating Segment | ||||||
Disclosure of operating segments [line items] | ||||||
Net interest income | 1,365,823 | 1,316,214 | 1,227,465 | |||
Net fees and commissions income | 468,250 | 372,123 | 359,173 | |||
Other operating income | 195,395 | 199,936 | 137,019 | |||
Total operating revenues | 2,029,468 | 1,888,273 | 1,723,657 | |||
Provisions for loan losses | (347,274) | (281,410) | (234,982) | |||
Depreciation and amortization | (70,541) | (37,681) | (35,251) | |||
Other operating expenses | (855,411) | (825,033) | (768,434) | |||
Income attributable to associates | 6,450 | 7,255 | 6,057 | |||
Income before income taxes | 762,692 | 751,404 | 691,047 | |||
Income taxes | (169,683) | (156,531) | (115,034) | |||
Income after income taxes | 593,009 | 594,873 | 576,013 | |||
Assets | 41,297,423 | 36,036,475 | 32,765,893 | |||
Current and deferred taxes | 321,305 | 262,582 | 290,432 | |||
Total assets | 41,618,728 | 36,299,057 | 33,056,325 | |||
Liabilities | 38,014,216 | 32,989,997 | 29,947,157 | |||
Current and deferred taxes | 76,289 | 4,907 | 3,453 | |||
Total liabilities | 38,090,505 | 32,994,904 | 29,950,610 | |||
Operating Segment | Reclassifications and adjustments to conform IFRS | ||||||
Disclosure of operating segments [line items] | ||||||
Net interest income | 5,455 | 4,763 | 7,230 | |||
Net fees and commissions income | (10,948) | (12,168) | (11,499) | |||
Other operating income | (18,757) | (34,798) | (31,846) | |||
Total operating revenues | (24,250) | [1] | (42,203) | [2] | (36,115) | [2] |
Provisions for loan losses | 15,673 | [3] | 31,639 | [4] | 13,727 | [5] |
Depreciation and amortization | (2,285) | [6] | ||||
Other operating expenses | 23,702 | [7] | 23,006 | [8] | 21,614 | [9] |
Income attributable to associates | (411) | (444) | (546) | |||
Income before income taxes | 14,714 | 11,998 | (3,605) | |||
Income taxes | (3,978) | [10] | (3,237) | [11] | (327) | [12] |
Income after income taxes | 10,736 | 8,761 | (3,932) | |||
Assets | (515,199) | 612,545 | (388,753) | |||
Current and deferred taxes | (89,655) | (85,082) | (106,135) | |||
Total assets | (604,854) | [13] | 697,627 | (494,888) | [14] | |
Liabilities | (982,392) | 1,067,190 | (934,521) | |||
Current and deferred taxes | ||||||
Total liabilities | (982,392) | [15] | 1,067,190 | (934,521) | [16] | |
Operating Segment | Retail | ||||||
Disclosure of operating segments [line items] | ||||||
Net interest income | 1,033,646 | 972,172 | 930,539 | |||
Net fees and commissions income | 270,064 | 184,545 | 184,049 | |||
Other operating income | 34,854 | 43,288 | 19,095 | |||
Total operating revenues | 1,338,564 | 1,200,005 | 1,133,683 | |||
Provisions for loan losses | (333,156) | (287,569) | (256,262) | |||
Depreciation and amortization | (58,725) | (29,571) | (27,669) | |||
Other operating expenses | (587,212) | (561,513) | (507,771) | |||
Income attributable to associates | 3,957 | 4,220 | 4,372 | |||
Income before income taxes | 363,428 | 325,572 | 346,353 | |||
Assets | 18,139,505 | 10,591,702 | 16,099,926 | |||
Liabilities | 11,407,066 | 9,873,018 | 10,380,250 | |||
Operating Segment | Wholesale | ||||||
Disclosure of operating segments [line items] | ||||||
Net interest income | 359,074 | 355,451 | 322,431 | |||
Net fees and commissions income | 48,097 | 45,905 | 43,443 | |||
Other operating income | 61,505 | 59,376 | 34,712 | |||
Total operating revenues | 468,676 | 460,732 | 400,586 | |||
Provisions for loan losses | (14,052) | 6,041 | 21,415 | |||
Depreciation and amortization | (5,885) | (5,008) | (4,547) | |||
Other operating expenses | (151,660) | (152,921) | (153,360) | |||
Income attributable to associates | 1,669 | 2,173 | 1,026 | |||
Income before income taxes | 298,748 | 311,017 | 265,120 | |||
Assets | 10,766,374 | 10,591,702 | 10,558,278 | |||
Liabilities | 10,750,446 | 9,873,018 | 10,272,607 | |||
Operating Segment | Treasury | ||||||
Disclosure of operating segments [line items] | ||||||
Net interest income | (19,246) | (2,415) | (21,169) | |||
Net fees and commissions income | (3,241) | (4,031) | (4,306) | |||
Other operating income | 45,105 | 63,931 | 56,328 | |||
Total operating revenues | 22,618 | 57,485 | 30,853 | |||
Provisions for loan losses | ||||||
Depreciation and amortization | (85) | (91) | (141) | |||
Other operating expenses | (5,040) | (4,693) | (5,022) | |||
Income attributable to associates | 331 | 400 | 108 | |||
Income before income taxes | 17,824 | 53,101 | 25,798 | |||
Assets | 11,426,849 | 8,093,850 | 5,469,829 | |||
Liabilities | 15,075,652 | 11,952,656 | 8,815,056 | |||
Operating Segment | Subsidiaries | ||||||
Disclosure of operating segments [line items] | ||||||
Net interest income | (7,651) | (8,994) | (4,336) | |||
Net fees and commissions income | 153,330 | 145,704 | 135,987 | |||
Other operating income | 53,931 | 33,341 | 26,884 | |||
Total operating revenues | 199,610 | 170,051 | 158,535 | |||
Provisions for loan losses | (66) | 118 | (135) | |||
Depreciation and amortization | (5,846) | (3,011) | (2,894) | |||
Other operating expenses | (111,499) | (105,906) | (102,281) | |||
Income attributable to associates | 493 | 462 | 551 | |||
Income before income taxes | 82,692 | 61,714 | 53,776 | |||
Assets | 964,695 | 925,440 | 637,860 | |||
Liabilities | $ 781,052 | $ 764,736 | $ 479,244 | |||
[1] | The total effect due to the elimination adjustments to conform the total operating revenue is MCh$(14,948). In addition the total effect of IFRS adjustments is MCh$(9,302) which mainly stems from the reclassification of interest on repurchase agreements and suspended interest recognition. | |||||
[2] | The total effect due to the elimination adjustments to conform the total operating revenue is MCh$(14,990). In addition the total effect of IFRS adjustments is MCh$(27,213) which mainly stems from the reclassification of interest on repurchase agreements and suspended interest recognition. | |||||
[3] | The total effect relates to IFRS adjustments of MCh$15,673, which mainly stems from differences in the calculation of allowances for loan losses. | |||||
[4] | The total effect relates to IFRS adjustments of MCh$31,639, which mainly stems from differences in the calculation of allowances for loan losses. | |||||
[5] | The total effect relates to IFRS adjustments of MCh$13,727, which mainly stems from differences in the calculation of allowances for loan losses. | |||||
[6] | The total effect relates to IFRS adjustments of MCh$(2,285), which stems from the amortization of intangibles and depreciation of property and equipment acquired through business combinations. | |||||
[7] | The total effect due to the elimination adjustments to conform other operating expenses is MCh$14,948. In addition the total effect of IFRS adjustments is MCh$8,754, which mainly represents reversal of write-offs of assets received in lieu of payments. | |||||
[8] | The total effect due to the elimination adjustments to conform other operating expenses is MCh$14,990. In addition the total effect of IFRS adjustments is MCh$8,016, which mainly represents reversal of write-offs of assets received in lieu of payments. | |||||
[9] | The total effect due to the elimination adjustments to conform other operating expenses is MCh$14,387. In addition the total effect of IFRS adjustments is MCh$7,227, which represents reversal of write-offs of assets received in lieu of payments. | |||||
[10] | The total effect relates to IFRS adjustments of MCh$(3,978), which stems from deferred taxes. | |||||
[11] | The total effect relates to IFRS adjustments of MCh$(3,237), which stems from deferred taxes. | |||||
[12] | The total effect relates to IFRS adjustments of MCh$(327), which stems from deferred taxes. | |||||
[13] | The total effect due to the elimination adjustments to conform the consolidated financial position data in assets is MCh$(345,395). In addition the total effect of IFRS adjustments in assets is MCh$(259,459), which mainly stems from differences in the calculation of allowances for loan losses, the acquisition of Citibank Chile and deferred taxes effects and settlement of transactions in the course of collection. | |||||
[14] | The total effect due to the elimination adjustments to conform the consolidated financial position data in assets is MCh$(232,137). In addition the total effect of IFRS adjustments in assets is MCh$(262,751), which mainly stems from from differences in the calculation of allowances for loan losses, the acquisition of Citibank Chile and deferred taxes effects and settlement of transactions in the course of collection. | |||||
[15] | The total effect due to the elimination adjustments to conform the consolidated financial position data in liabilities is MCh$(345,395). In addition the total effect of IFRS adjustments in liabilities is MCh$(636,997), which mainly stems from provision for minimum dividends and differences in the calculation of allowances for loan losses. | |||||
[16] | The total effect due to the elimination adjustments to conform the consolidated financial position data in liabilities is MCh$(232,137). In addition the total effect of IFRS adjustments in liabilities is MCh$(702,384), which mainly stems from provision for minimum dividends and differences in the calculation of allowances for loan losses. |
Segment Reporting (Details Text
Segment Reporting (Details Textual) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019CLP ($) | Dec. 31, 2018CLP ($)Segment | Dec. 31, 2017CLP ($) | |
Disclosure of operating segments [line items] | |||
Number of business segments | Segment | 4 | ||
Net interest income | $ 1,371,278 | $ 1,320,977 | $ 1,234,695 |
Total operating revenues | 2,005,218 | 1,846,070 | 1,687,542 |
Provisions for loan losses | (331,601) | (249,771) | (221,255) |
Depreciation and amortization | (70,541) | (37,681) | (37,536) |
Other operating expenses | 802,027 | ||
Income taxes | (173,661) | (159,768) | (115,361) |
Assets | 41,013,874 | 35,601,430 | |
Liabilities | 37,108,113 | 31,927,714 | 29,016,089 |
Retail Sector [Member] | |||
Disclosure of operating segments [line items] | |||
Annual sales | 70,000 | ||
Wholesale [Member] | |||
Disclosure of operating segments [line items] | |||
Annual sales | 70,000 | ||
Ifrs Adjustments | |||
Disclosure of operating segments [line items] | |||
Provisions for loan losses | 15,673 | 31,639 | 13,727 |
Depreciation and amortization | (2,285) | ||
Income taxes | (3,978) | (3,237) | (327) |
Reclassification of interest on repurchase agreements and suspended interest recognition | (9,302) | (27,213) | (21,728) |
Reversal of write-offs of assets received in lieu of payments | 8,754 | 8,016 | (7,227) |
Increase (decrease) in assets from deviating allowances for loan losses, acquisitions and deferred taxes | (259,459) | (309,012) | (262,751) |
Increase (decrease) in liabilities from provision for minimum dividends and differing allowances for loan losses | (636,997) | (678,575) | (702,384) |
Elimination Of Intersegment Amounts | |||
Disclosure of operating segments [line items] | |||
Net interest income | (14,948) | (14,990) | (14,387) |
Other operating expenses | 14,948 | 14,990 | 14,387 |
Assets | (345,395) | (388,615) | (232,137) |
Liabilities | $ (345,395) | $ (388,615) | $ (232,137) |
Cash and Cash Equivalents - Rec
Cash and Cash Equivalents - Reconciliation to the statement of cash flows (Details) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Cash and due from banks: | |||||
Cash | [1] | $ 889,911 | $ 624,862 | ||
Current account with the Central Bank | [1] | 178,429 | 121,807 | ||
Deposits in other domestic banks | 75,651 | 26,698 | |||
Deposits abroad | 1,248,175 | 106,714 | |||
Subtotal - Cash and due from banks | 2,392,166 | 880,081 | |||
Transactions in the course of collection | 232,551 | 244,758 | |||
Highly liquid financial instruments | [2] | 371,063 | 83,807 | ||
Repurchase agreements | 114,466 | 72,632 | |||
Total cash and cash equivalents | 3,110,246 | 1,281,278 | $ 1,438,398 | $ 1,655,210 | |
Highly liquid financial instruments: | |||||
Financial Assets Held-for-trading | 371,063 | 83,807 | |||
Total | [2] | $ 371,063 | $ 83,807 | ||
[1] | Amounts in cash and Central Bank deposits are mandatory reserve deposits for which the Bank must maintain a minimum specified monthly average balance. | ||||
[2] | It corresponds to negotiation instruments and investment instruments, whose terms do not exceed three months from the date of acquisition. |
Cash and Cash Equivalents - Tra
Cash and Cash Equivalents - Transactions in the course of collection (Details) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Assets | ||
Documents drawn on other banks (clearing) | $ 222,261 | $ 210,743 |
Funds receivable | 109,159 | 78,451 |
Subtotal transactions in the course of collection | 331,420 | 289,194 |
Liabilities | ||
Funds payable | (98,869) | (44,436) |
Subtotal transactions in the course of payment | (98,869) | (44,436) |
Total transactions in the course of collection | $ 232,551 | $ 244,758 |
Financial Assets Held-for-Tra_3
Financial Assets Held-for-Trading (Details) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of financial assets [line items] | ||
Financial assets held-for-trading | $ 1,872,355 | $ 1,745,366 |
Financial Assets Held-for-Trading | ||
Disclosure of financial assets [line items] | ||
Financial assets held-for-trading | 1,872,355 | 1,745,366 |
Financial Assets Held-for-Trading | Central Bank bonds | Other instruments issued by the Chilean Government and Central Bank | ||
Disclosure of financial assets [line items] | ||
Financial assets held-for-trading | 16,490 | 24,906 |
Financial Assets Held-for-Trading | Central Bank promissory notes | Other instruments issued by the Chilean Government and Central Bank | ||
Disclosure of financial assets [line items] | ||
Financial assets held-for-trading | 1,008,035 | 1,410,080 |
Financial Assets Held-for-Trading | Other instruments issued by the Chilean Government and Central Bank | Other instruments issued by the Chilean Government and Central Bank | ||
Disclosure of financial assets [line items] | ||
Financial assets held-for-trading | 99,164 | 88,486 |
Financial Assets Held-for-Trading | Other instruments issued by the Chilean Government and Central Bank | Other instruments issued in Chile | ||
Disclosure of financial assets [line items] | ||
Financial assets held-for-trading | 3,272 | 1,664 |
Financial Assets Held-for-Trading | Other instruments issued by the Chilean Government and Central Bank | Instruments issued by foreign institutions | ||
Disclosure of financial assets [line items] | ||
Financial assets held-for-trading | 4,446 | |
Financial Assets Held-for-Trading | Bonds from other domestic companies | Other instruments issued in Chile | ||
Disclosure of financial assets [line items] | ||
Financial assets held-for-trading | 1,556 | 7,532 |
Financial Assets Held-for-Trading | Bonds from domestic banks | Other instruments issued in Chile | ||
Disclosure of financial assets [line items] | ||
Financial assets held-for-trading | 55,094 | 20,186 |
Financial Assets Held-for-Trading | Deposits in domestic banks | Other instruments issued in Chile | ||
Disclosure of financial assets [line items] | ||
Financial assets held-for-trading | 315,415 | 100,225 |
Financial Assets Held-for-Trading | Funds managed by related companies | Mutual fund investments | ||
Disclosure of financial assets [line items] | ||
Financial assets held-for-trading | 373,329 | 87,841 |
Financial Assets Held-for-Trading | Funds managed by third-party | Mutual fund investments | ||
Disclosure of financial assets [line items] | ||
Financial assets held-for-trading |
Financial Assets Held-for-Tra_4
Financial Assets Held-for-Trading (Details Textual) - Financial assets held-for-trading [Member] - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Other instruments with repurchase agreements [Member] | Instruments issued by the Chilean Governments and Central Bank of Chile [Member] | ||
Disclosure of financial assets [line items] | ||
Financial assets at fair value through profit or loss, classified as held for trading | $ 15,243 | $ 115,749 |
Repurchase agreement expiration period | 0 years | |
Other instruments with repurchase agreements [Member] | Other instruments issued in Chile [Member] | ||
Disclosure of financial assets [line items] | ||
Financial assets at fair value through profit or loss, classified as held for trading | $ 251,158 | 99,268 |
Repurchase agreement expiration period | 0 years | |
Other instruments [Member] | Instruments issued by the Chilean Governments and Central Bank of Chile [Member] | Comder Contraparte Central S.A [Member] | ||
Disclosure of financial assets [line items] | ||
Amount of other financial instruments maintained as collateral guaranteeing derivative contracts | $ 57,639 | 34,456 |
Mortgage financial bonds [Member] | ||
Disclosure of financial assets [line items] | ||
Financial asset classified as held for trading which is presented as a reduction in debt issued | $ 8,029 | $ 11,397 |
Investments Under Resale Agre_3
Investments Under Resale Agreements and Obligations Under Repurchase Agreements (Details) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Up to 1 month | ||
Receivables from repurchase agreements and security borrowings [Line Items] | ||
Receivables from repurchase agreements and security borrowing | $ 102,057 | $ 73,496 |
Over 1 month and up to 3 months | ||
Receivables from repurchase agreements and security borrowings [Line Items] | ||
Receivables from repurchase agreements and security borrowing | 29,393 | 16,918 |
Over 3 months and up to 12 months [Member] | ||
Receivables from repurchase agreements and security borrowings [Line Items] | ||
Receivables from repurchase agreements and security borrowing | 10,879 | 6,875 |
Instruments Issued By Chilean Government And Central Bank [Member] | ||
Receivables from repurchase agreements and security borrowings [Line Items] | ||
Receivables from repurchase agreements and security borrowing | 29,643 | 742 |
Instruments Issued By Chilean Government And Central Bank [Member] | Up to 1 month | ||
Receivables from repurchase agreements and security borrowings [Line Items] | ||
Receivables from repurchase agreements and security borrowing | 29,643 | 742 |
Other Instruments Issued In Chile [Member] | ||
Receivables from repurchase agreements and security borrowings [Line Items] | ||
Receivables from repurchase agreements and security borrowing | 112,686 | 96,547 |
Other Instruments Issued In Chile [Member] | Up to 1 month | ||
Receivables from repurchase agreements and security borrowings [Line Items] | ||
Receivables from repurchase agreements and security borrowing | 72,414 | 72,754 |
Other Instruments Issued In Chile [Member] | Over 1 month and up to 3 months | ||
Receivables from repurchase agreements and security borrowings [Line Items] | ||
Receivables from repurchase agreements and security borrowing | 29,393 | 16,918 |
Other Instruments Issued In Chile [Member] | Over 3 months and up to 12 months [Member] | ||
Receivables from repurchase agreements and security borrowings [Line Items] | ||
Receivables from repurchase agreements and security borrowing | 10,879 | 6,875 |
Central Bank promissory notes | Instruments Issued By Chilean Government And Central Bank [Member] | ||
Receivables from repurchase agreements and security borrowings [Line Items] | ||
Receivables from repurchase agreements and security borrowing | 742 | |
Central Bank promissory notes | Instruments Issued By Chilean Government And Central Bank [Member] | Up to 1 month | ||
Receivables from repurchase agreements and security borrowings [Line Items] | ||
Receivables from repurchase agreements and security borrowing | 742 | |
Bonds from domestic banks | Other Instruments Issued In Chile [Member] | ||
Receivables from repurchase agreements and security borrowings [Line Items] | ||
Receivables from repurchase agreements and security borrowing | 15,407 | 367 |
Bonds from domestic banks | Other Instruments Issued In Chile [Member] | Up to 1 month | ||
Receivables from repurchase agreements and security borrowings [Line Items] | ||
Receivables from repurchase agreements and security borrowing | 15,407 | 367 |
Deposits in domestic banks [Member] | Other Instruments Issued In Chile [Member] | ||
Receivables from repurchase agreements and security borrowings [Line Items] | ||
Receivables from repurchase agreements and security borrowing | 2,053 | |
Deposits in domestic banks [Member] | Other Instruments Issued In Chile [Member] | Up to 1 month | ||
Receivables from repurchase agreements and security borrowings [Line Items] | ||
Receivables from repurchase agreements and security borrowing | 2,053 | |
Other Instruments | Other Instruments Issued In Chile [Member] | ||
Receivables from repurchase agreements and security borrowings [Line Items] | ||
Receivables from repurchase agreements and security borrowing | 97,279 | 94,127 |
Other Instruments | Other Instruments Issued In Chile [Member] | Up to 1 month | ||
Receivables from repurchase agreements and security borrowings [Line Items] | ||
Receivables from repurchase agreements and security borrowing | 57,007 | 70,334 |
Other Instruments | Other Instruments Issued In Chile [Member] | Over 1 month and up to 3 months | ||
Receivables from repurchase agreements and security borrowings [Line Items] | ||
Receivables from repurchase agreements and security borrowing | 29,393 | 16,918 |
Other Instruments | Other Instruments Issued In Chile [Member] | Over 3 months and up to 12 months [Member] | ||
Receivables from repurchase agreements and security borrowings [Line Items] | ||
Receivables from repurchase agreements and security borrowing | 10,879 | $ 6,875 |
Central Bank bonds [Member] | Instruments Issued By Chilean Government And Central Bank [Member] | ||
Receivables from repurchase agreements and security borrowings [Line Items] | ||
Receivables from repurchase agreements and security borrowing | 11,184 | |
Central Bank bonds [Member] | Instruments Issued By Chilean Government And Central Bank [Member] | Up to 1 month | ||
Receivables from repurchase agreements and security borrowings [Line Items] | ||
Receivables from repurchase agreements and security borrowing | 11,184 | |
Other instruments issued by the Chilean Government and Central Bank [Member] | Instruments Issued By Chilean Government And Central Bank [Member] | ||
Receivables from repurchase agreements and security borrowings [Line Items] | ||
Receivables from repurchase agreements and security borrowing | 18,459 | |
Other instruments issued by the Chilean Government and Central Bank [Member] | Instruments Issued By Chilean Government And Central Bank [Member] | Up to 1 month | ||
Receivables from repurchase agreements and security borrowings [Line Items] | ||
Receivables from repurchase agreements and security borrowing | $ 18,459 |
Investments Under Resale Agre_4
Investments Under Resale Agreements and Obligations Under Repurchase Agreements (Details 1) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Payables by selling financial instruments and security repurchase commitment [Line Items] | ||
Payables from repurchase agreements and security lending | $ 308,734 | $ 303,820 |
Up to 1 month | ||
Payables by selling financial instruments and security repurchase commitment [Line Items] | ||
Payables from repurchase agreements and security lending | 298,711 | 297,162 |
Over 1 month and up to 3 months | ||
Payables by selling financial instruments and security repurchase commitment [Line Items] | ||
Payables from repurchase agreements and security lending | 8,583 | 1,448 |
Over 3 months and up to 12 months [Member] | ||
Payables by selling financial instruments and security repurchase commitment [Line Items] | ||
Payables from repurchase agreements and security lending | 1,440 | 5,210 |
Instruments Issued By Chilean Government And Central Bank [Member] | ||
Payables by selling financial instruments and security repurchase commitment [Line Items] | ||
Payables from repurchase agreements and security lending | 16,368 | 130,197 |
Instruments Issued By Chilean Government And Central Bank [Member] | Up to 1 month | ||
Payables by selling financial instruments and security repurchase commitment [Line Items] | ||
Payables from repurchase agreements and security lending | 16,368 | 130,197 |
Other Instruments Issued In Chile [Member] | ||
Payables by selling financial instruments and security repurchase commitment [Line Items] | ||
Payables from repurchase agreements and security lending | 292,366 | 173,623 |
Other Instruments Issued In Chile [Member] | Up to 1 month | ||
Payables by selling financial instruments and security repurchase commitment [Line Items] | ||
Payables from repurchase agreements and security lending | 282,343 | 166,965 |
Other Instruments Issued In Chile [Member] | Over 1 month and up to 3 months | ||
Payables by selling financial instruments and security repurchase commitment [Line Items] | ||
Payables from repurchase agreements and security lending | 1,448 | |
Other Instruments Issued In Chile [Member] | Over 3 months and up to 12 months [Member] | ||
Payables by selling financial instruments and security repurchase commitment [Line Items] | ||
Payables from repurchase agreements and security lending | 1,440 | 5,210 |
Central Bank bonds | Instruments Issued By Chilean Government And Central Bank [Member] | ||
Payables by selling financial instruments and security repurchase commitment [Line Items] | ||
Payables from repurchase agreements and security lending | 7,301 | 130,197 |
Central Bank bonds | Instruments Issued By Chilean Government And Central Bank [Member] | Up to 1 month | ||
Payables by selling financial instruments and security repurchase commitment [Line Items] | ||
Payables from repurchase agreements and security lending | 7,301 | 130,197 |
Deposits in domestic banks [Member] | Other Instruments Issued In Chile [Member] | ||
Payables by selling financial instruments and security repurchase commitment [Line Items] | ||
Payables from repurchase agreements and security lending | 289,279 | 168,825 |
Deposits in domestic banks [Member] | Other Instruments Issued In Chile [Member] | Up to 1 month | ||
Payables by selling financial instruments and security repurchase commitment [Line Items] | ||
Payables from repurchase agreements and security lending | 280,696 | 162,167 |
Deposits in domestic banks [Member] | Other Instruments Issued In Chile [Member] | Over 1 month and up to 3 months | ||
Payables by selling financial instruments and security repurchase commitment [Line Items] | ||
Payables from repurchase agreements and security lending | 8,583 | 1,448 |
Deposits in domestic banks [Member] | Other Instruments Issued In Chile [Member] | Over 3 months and up to 12 months [Member] | ||
Payables by selling financial instruments and security repurchase commitment [Line Items] | ||
Payables from repurchase agreements and security lending | 5,210 | |
Other Instruments | Other Instruments Issued In Chile [Member] | ||
Payables by selling financial instruments and security repurchase commitment [Line Items] | ||
Payables from repurchase agreements and security lending | 3,087 | 4,798 |
Other Instruments | Other Instruments Issued In Chile [Member] | Up to 1 month | ||
Payables by selling financial instruments and security repurchase commitment [Line Items] | ||
Payables from repurchase agreements and security lending | 1,647 | $ 4,798 |
Other Instruments | Other Instruments Issued In Chile [Member] | Over 3 months and up to 12 months [Member] | ||
Payables by selling financial instruments and security repurchase commitment [Line Items] | ||
Payables from repurchase agreements and security lending | 1,440 | |
Central Bank promissory notes | Instruments Issued By Chilean Government And Central Bank [Member] | ||
Payables by selling financial instruments and security repurchase commitment [Line Items] | ||
Payables from repurchase agreements and security lending | 9,067 | |
Central Bank promissory notes | Instruments Issued By Chilean Government And Central Bank [Member] | Up to 1 month | ||
Payables by selling financial instruments and security repurchase commitment [Line Items] | ||
Payables from repurchase agreements and security lending | $ 9,067 |
Investments Under Resale Agre_5
Investments Under Resale Agreements and Obligations Under Repurchase Agreements (Details Textual) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Investments Under Resale Agreements and Obligations Under Repurchase Agreements (Textual) | ||
Fair value | $ 142,370 | $ 95,316 |
Repurchase Agreement and Securities Lending [Member] | ||
Investments Under Resale Agreements and Obligations Under Repurchase Agreements (Textual) | ||
Fair value | $ 305,593 | $ 298,708 |
Derivative Instruments and Ac_3
Derivative Instruments and Accounting Hedges - Bank's Portfolio of Derivative Instruments (Details) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of detailed information about financial instruments [line items] | ||
Fair value assets | $ 2,786,215 | $ 1,513,947 |
Fair value liabilities | 2,818,421 | 1,528,234 |
Cross currency swap and interest rate swap | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount - trading | 18,575,756 | 13,982,890 |
Fair value assets - trading | 873,371 | 450,519 |
Fair value liabilities - trading | 1,210,059 | 569,868 |
Cross currency swap and interest rate swap | Fair value hedge | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount - hedging | 8,166 | 11,132 |
Fair value assets - hedging | ||
Fair value liabilities - hedging | 2,547 | 3,012 |
Notional amount | 8,166 | 11,132 |
Interest rate swap | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount - trading | 61,411,254 | 72,330,827 |
Fair value assets - trading | 888,581 | 287,611 |
Fair value liabilities - trading | 886,963 | 284,840 |
Interest rate swap | Fair value hedge | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount - hedging | 86,317 | 226,954 |
Fair value assets - hedging | 32 | 1,116 |
Fair value liabilities - hedging | 6,739 | 3,152 |
Notional amount | 86,317 | 226,954 |
Derivatives | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount - trading | 114,823,568 | 122,425,909 |
Fair value assets - trading | 2,724,621 | 1,478,533 |
Fair value liabilities - trading | 2,774,692 | 1,490,252 |
Notional amount | 116,099,933 | 123,801,452 |
Fair value assets | 2,786,215 | 1,513,947 |
Fair value liabilities | 2,818,421 | 1,528,234 |
Derivatives | Fair value hedge | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount - hedging | 94,483 | 238,086 |
Fair value assets - hedging | 32 | 1,116 |
Fair value liabilities - hedging | 9,286 | 6,164 |
Derivatives | Cash flow hedge | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount - hedging | 1,181,882 | 1,137,457 |
Fair value assets - hedging | 61,562 | 34,298 |
Fair value liabilities - hedging | 34,443 | 31,818 |
Swaps | Cash flow hedge | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount - hedging | 1,181,882 | 1,137,457 |
Fair value assets - hedging | 61,562 | 34,298 |
Fair value liabilities - hedging | 34,443 | 31,818 |
Currency forward | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount - trading | 34,499,472 | 35,690,464 |
Fair value assets - trading | 956,632 | 735,444 |
Fair value liabilities - trading | 673,932 | 631,089 |
Call Options | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount - trading | 178,414 | 229,175 |
Fair value assets - trading | 4,961 | 4,839 |
Fair value liabilities - trading | 1,529 | 2,921 |
Put Options | ||
Disclosure of detailed information about financial instruments [line items] | ||
Notional amount - trading | 158,672 | 192,553 |
Fair value assets - trading | 1,076 | 120 |
Fair value liabilities - trading | $ 2,209 | $ 1,534 |
Derivative Instruments and Ac_4
Derivative Instruments and Accounting Hedges - Fair Value Hedges (Details) - Fair value hedge - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Cross currency swap | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional Amounts | $ 8,166 | $ 11,132 |
Interest rate swap | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional Amounts | 86,317 | 226,954 |
Commercial loans | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional Amounts | 8,166 | 11,132 |
Corporate bonds | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Notional Amounts | $ 86,317 | $ 226,954 |
Derivative Instruments and Ac_5
Derivative Instruments and Accounting Hedges - Cash flows of bonds issued abroad, the objects of these hedges and the cash flows of the asset part of the derivative (Details) - Cash Flow Hedges - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Net cash flows | ||
Cross Currency Swap CHF | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash inflows | 209,255 | $ 405,301 |
Cross Currency Swap EUR | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash inflows | 98,194 | 93,785 |
Cross Currency Swap HKD | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash inflows | 450,094 | 434,793 |
Cross Currency Swap JPY | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash inflows | 272,462 | 188,633 |
Cross Currency Swap USD | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash inflows | 51,994 | 49,440 |
Cross Currency Swap USD | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash inflows | 168,028 | 155,979 |
Cross Currency Swap PEN | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash inflows | 58,589 | |
Cross Currency Swap Aud | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash inflows | 175,001 | |
Cross Currency Swap Nok | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash inflows | 87,624 | |
Up to 1 month | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Net cash flows | ||
Up to 1 month | Cross Currency Swap CHF | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash inflows | ||
Up to 1 month | Cross Currency Swap EUR | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash inflows | ||
Up to 1 month | Cross Currency Swap HKD | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash inflows | ||
Up to 1 month | Cross Currency Swap JPY | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash inflows | ||
Up to 1 month | Cross Currency Swap USD | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash inflows | ||
Up to 1 month | Cross Currency Swap USD | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash inflows | 216 | 870 |
Up to 1 month | Cross Currency Swap PEN | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash inflows | ||
Up to 1 month | Cross Currency Swap Aud | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash inflows | ||
Up to 1 month | Cross Currency Swap Nok | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash inflows | ||
Over 1 month and up to 3 months | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Net cash flows | ||
Over 1 month and up to 3 months | Cross Currency Swap CHF | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash inflows | 89,256 | |
Over 1 month and up to 3 months | Cross Currency Swap EUR | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash inflows | ||
Over 1 month and up to 3 months | Cross Currency Swap HKD | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash inflows | ||
Over 1 month and up to 3 months | Cross Currency Swap JPY | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash inflows | 34,638 | 49,362 |
Over 1 month and up to 3 months | Cross Currency Swap USD | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash inflows | ||
Over 1 month and up to 3 months | Cross Currency Swap USD | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash inflows | 336 | 86 |
Over 1 month and up to 3 months | Cross Currency Swap PEN | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash inflows | 894 | |
Over 1 month and up to 3 months | Cross Currency Swap Aud | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash inflows | 428 | |
Over 1 month and up to 3 months | Cross Currency Swap Nok | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash inflows | ||
Over 3 months and up to 12 months | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Net cash flows | ||
Over 3 months and up to 12 months | Cross Currency Swap CHF | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash inflows | 798 | 125,993 |
Over 3 months and up to 12 months | Cross Currency Swap EUR | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash inflows | 1,421 | 1,338 |
Over 3 months and up to 12 months | Cross Currency Swap HKD | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash inflows | 12,829 | 66,378 |
Over 3 months and up to 12 months | Cross Currency Swap JPY | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash inflows | 2,121 | 1,072 |
Over 3 months and up to 12 months | Cross Currency Swap USD | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash inflows | 1,600 | 1,476 |
Over 3 months and up to 12 months | Cross Currency Swap USD | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash inflows | 884 | 49,401 |
Over 3 months and up to 12 months | Cross Currency Swap PEN | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash inflows | 894 | |
Over 3 months and up to 12 months | Cross Currency Swap Aud | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash inflows | 3,274 | |
Over 3 months and up to 12 months | Cross Currency Swap Nok | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash inflows | 2,341 | |
Over 1 year and up to 3 years | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Net cash flows | ||
Over 1 year and up to 3 years | Cross Currency Swap CHF | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash inflows | 1,597 | 1,450 |
Over 1 year and up to 3 years | Cross Currency Swap EUR | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash inflows | 2,842 | 2,675 |
Over 1 year and up to 3 years | Cross Currency Swap HKD | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash inflows | 25,627 | 21,601 |
Over 1 year and up to 3 years | Cross Currency Swap JPY | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash inflows | 38,596 | 33,487 |
Over 1 year and up to 3 years | Cross Currency Swap USD | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash inflows | 3,200 | 2,952 |
Over 1 year and up to 3 years | Cross Currency Swap USD | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash inflows | 166,592 | 105,622 |
Over 1 year and up to 3 years | Cross Currency Swap PEN | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash inflows | 3,575 | |
Over 1 year and up to 3 years | Cross Currency Swap Aud | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash inflows | 7,399 | |
Over 1 year and up to 3 years | Cross Currency Swap Nok | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash inflows | 4,682 | |
Over 3 year and up to 5 years | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Net cash flows | ||
Over 3 year and up to 5 years | Cross Currency Swap CHF | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash inflows | 90,095 | 82,552 |
Over 3 year and up to 5 years | Cross Currency Swap EUR | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash inflows | 2,842 | 2,675 |
Over 3 year and up to 5 years | Cross Currency Swap HKD | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash inflows | 91,034 | 83,608 |
Over 3 year and up to 5 years | Cross Currency Swap JPY | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash inflows | 3,482 | 32,882 |
Over 3 year and up to 5 years | Cross Currency Swap USD | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash inflows | 3,200 | 2,952 |
Over 3 year and up to 5 years | Cross Currency Swap USD | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash inflows | ||
Over 3 year and up to 5 years | Cross Currency Swap PEN | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash inflows | 3,575 | |
Over 3 year and up to 5 years | Cross Currency Swap Aud | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash inflows | 7,401 | |
Over 3 year and up to 5 years | Cross Currency Swap Nok | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash inflows | 4,682 | |
Over 5 years | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Net cash flows | ||
Over 5 years | Cross Currency Swap CHF | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash inflows | 116,765 | 106,050 |
Over 5 years | Cross Currency Swap EUR | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash inflows | 91,089 | 87,097 |
Over 5 years | Cross Currency Swap HKD | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash inflows | 320,604 | 263,206 |
Over 5 years | Cross Currency Swap JPY | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash inflows | 193,625 | 71,830 |
Over 5 years | Cross Currency Swap USD | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash inflows | 43,994 | 42,060 |
Over 5 years | Cross Currency Swap USD | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash inflows | ||
Over 5 years | Cross Currency Swap PEN | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash inflows | 49,651 | |
Over 5 years | Cross Currency Swap Aud | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash inflows | 156,499 | |
Over 5 years | Cross Currency Swap Nok | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash inflows | 75,919 | |
Obligation USD | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash outflow | (168,028) | (155,979) |
Obligation USD | Up to 1 month | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash outflow | (216) | (870) |
Obligation USD | Over 1 month and up to 3 months | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash outflow | (336) | (86) |
Obligation USD | Over 3 months and up to 12 months | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash outflow | (884) | (49,401) |
Obligation USD | Over 1 year and up to 3 years | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash outflow | (166,592) | (105,622) |
Obligation USD | Over 3 year and up to 5 years | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash outflow | ||
Obligation USD | Over 5 years | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash outflow | ||
Corporate Bond USD | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash outflow | (51,994) | (49,440) |
Corporate Bond USD | Up to 1 month | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash outflow | ||
Corporate Bond USD | Over 1 month and up to 3 months | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash outflow | ||
Corporate Bond USD | Over 3 months and up to 12 months | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash outflow | (1,600) | (1,476) |
Corporate Bond USD | Over 1 year and up to 3 years | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash outflow | (3,200) | (2,952) |
Corporate Bond USD | Over 3 year and up to 5 years | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash outflow | (3,200) | (2,952) |
Corporate Bond USD | Over 5 years | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash outflow | (43,994) | (42,060) |
Corporate Bond JPY | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash outflow | (272,462) | (188,633) |
Corporate Bond JPY | Up to 1 month | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash outflow | ||
Corporate Bond JPY | Over 1 month and up to 3 months | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash outflow | (34,638) | (49,362) |
Corporate Bond JPY | Over 3 months and up to 12 months | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash outflow | (2,121) | (1,072) |
Corporate Bond JPY | Over 1 year and up to 3 years | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash outflow | (38,596) | (33,487) |
Corporate Bond JPY | Over 3 year and up to 5 years | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash outflow | (3,482) | (32,882) |
Corporate Bond JPY | Over 5 years | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash outflow | (193,625) | (71,830) |
Corporate Bond HKD | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash outflow | (450,094) | (434,793) |
Corporate Bond HKD | Up to 1 month | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash outflow | ||
Corporate Bond HKD | Over 1 month and up to 3 months | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash outflow | ||
Corporate Bond HKD | Over 3 months and up to 12 months | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash outflow | (12,829) | (66,378) |
Corporate Bond HKD | Over 1 year and up to 3 years | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash outflow | (25,627) | (21,601) |
Corporate Bond HKD | Over 3 year and up to 5 years | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash outflow | (91,034) | (83,608) |
Corporate Bond HKD | Over 5 years | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash outflow | (320,604) | (263,206) |
Corporate Bond EUR | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash outflow | (98,194) | (93,785) |
Corporate Bond EUR | Up to 1 month | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash outflow | ||
Corporate Bond EUR | Over 1 month and up to 3 months | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash outflow | ||
Corporate Bond EUR | Over 3 months and up to 12 months | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash outflow | (1,421) | (1,338) |
Corporate Bond EUR | Over 1 year and up to 3 years | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash outflow | (2,842) | (2,675) |
Corporate Bond EUR | Over 3 year and up to 5 years | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash outflow | (2,842) | (2,675) |
Corporate Bond EUR | Over 5 years | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash outflow | (91,089) | (87,097) |
Corporate Bond CHF | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash outflow | (209,255) | (405,301) |
Corporate Bond CHF | Up to 1 month | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash outflow | ||
Corporate Bond CHF | Over 1 month and up to 3 months | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash outflow | (89,256) | |
Corporate Bond CHF | Over 3 months and up to 12 months | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash outflow | (798) | (125,993) |
Corporate Bond CHF | Over 1 year and up to 3 years | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash outflow | (1,597) | (1,450) |
Corporate Bond CHF | Over 3 year and up to 5 years | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash outflow | (90,095) | (82,552) |
Corporate Bond CHF | Over 5 years | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash outflow | (116,765) | $ (106,050) |
Corporate Bond PEN | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash outflow | (58,589) | |
Corporate Bond PEN | Up to 1 month | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash outflow | ||
Corporate Bond PEN | Over 1 month and up to 3 months | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash outflow | (894) | |
Corporate Bond PEN | Over 3 months and up to 12 months | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash outflow | (894) | |
Corporate Bond PEN | Over 1 year and up to 3 years | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash outflow | (3,575) | |
Corporate Bond PEN | Over 3 year and up to 5 years | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash outflow | (3,575) | |
Corporate Bond PEN | Over 5 years | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash outflow | (49,651) | |
Corporate Bond AUD | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash outflow | (175,001) | |
Corporate Bond AUD | Up to 1 month | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash outflow | ||
Corporate Bond AUD | Over 1 month and up to 3 months | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash outflow | (428) | |
Corporate Bond AUD | Over 3 months and up to 12 months | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash outflow | (3,274) | |
Corporate Bond AUD | Over 1 year and up to 3 years | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash outflow | (7,399) | |
Corporate Bond AUD | Over 3 year and up to 5 years | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash outflow | (7,401) | |
Corporate Bond AUD | Over 5 years | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash outflow | (156,499) | |
Corporate Bond NOK | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash outflow | (87,624) | |
Corporate Bond NOK | Up to 1 month | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash outflow | ||
Corporate Bond NOK | Over 1 month and up to 3 months | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash outflow | ||
Corporate Bond NOK | Over 3 months and up to 12 months | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash outflow | (2,341) | |
Corporate Bond NOK | Over 1 year and up to 3 years | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash outflow | (4,682) | |
Corporate Bond NOK | Over 3 year and up to 5 years | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash outflow | (4,682) | |
Corporate Bond NOK | Over 5 years | ||
Disclosure of maturity analysis for financial assets held for managing liquidity risk [line items] | ||
Cash outflow | $ (75,919) |
Derivative Instruments and Ac_6
Derivative Instruments and Accounting Hedges - Cash flows of the underlying assets portfolio and the cash flow of the liability part of the derivatives (Details) - Cash Flow Hedges - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Net cash flows | ||
Cross Currency Swap CHF | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Cash outflows | (208,618) | $ (422,670) |
Cross Currency Swap EUR | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Cash outflows | (94,976) | (94,290) |
Cross Currency Swap HKD | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Cash outflows | (363,929) | (378,150) |
Cross Currency Swap JPY | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Cash outflows | (284,212) | (204,243) |
Cross Currency Swap USD | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Cash outflows | (201,739) | (193,821) |
Cross Currency Swap PEN | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Cash outflows | (31,695) | |
Cross Currency Swap Aud | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Cash outflows | (111,381) | |
Cross Currency Swap Nok | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Cash outflows | (67,523) | |
Over 3 years and up to 5 years | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Net cash flows | ||
Over 3 years and up to 5 years | Cross Currency Swap CHF | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Cash outflows | (197,107) | (87,164) |
Over 3 years and up to 5 years | Cross Currency Swap EUR | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Cash outflows | (3,718) | (3,608) |
Over 3 years and up to 5 years | Cross Currency Swap HKD | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Cash outflows | (69,035) | (68,362) |
Over 3 years and up to 5 years | Cross Currency Swap JPY | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Cash outflows | (6,424) | (35,213) |
Over 3 years and up to 5 years | Cross Currency Swap USD | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Cash outflows | (1,281) | (1,243) |
Over 3 years and up to 5 years | Cross Currency Swap PEN | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Cash outflows | (189) | |
Over 3 years and up to 5 years | Cross Currency Swap Aud | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Cash outflows | (1,104) | |
Over 3 years and up to 5 years | Cross Currency Swap Nok | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Cash outflows | (1,216) | |
Over 3 months and up to 12 months [Member] | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Net cash flows | ||
Over 3 months and up to 12 months [Member] | Cross Currency Swap CHF | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Cash outflows | (3,858) | (125,325) |
Over 3 months and up to 12 months [Member] | Cross Currency Swap EUR | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Cash outflows | (1,857) | (1,811) |
Over 3 months and up to 12 months [Member] | Cross Currency Swap HKD | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Cash outflows | (8,798) | (59,667) |
Over 3 months and up to 12 months [Member] | Cross Currency Swap JPY | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Cash outflows | (4,096) | (2,740) |
Over 3 months and up to 12 months [Member] | Cross Currency Swap USD | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Cash outflows | (1,275) | (47,797) |
Over 3 months and up to 12 months [Member] | Cross Currency Swap PEN | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Cash outflows | (48) | |
Over 3 months and up to 12 months [Member] | Cross Currency Swap Aud | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Cash outflows | (521) | |
Over 3 months and up to 12 months [Member] | Cross Currency Swap Nok | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Cash outflows | (609) | |
Over 1 year and up to 3 years | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Net cash flows | ||
Over 1 year and up to 3 years | Cross Currency Swap CHF | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Cash outflows | (7,653) | (7,482) |
Over 1 year and up to 3 years | Cross Currency Swap EUR | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Cash outflows | (3,715) | (3,621) |
Over 1 year and up to 3 years | Cross Currency Swap HKD | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Cash outflows | (17,906) | (16,835) |
Over 1 year and up to 3 years | Cross Currency Swap JPY | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Cash outflows | (40,344) | (37,432) |
Over 1 year and up to 3 years | Cross Currency Swap USD | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Cash outflows | (161,941) | (107,893) |
Over 1 year and up to 3 years | Cross Currency Swap PEN | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Cash outflows | (188) | |
Over 1 year and up to 3 years | Cross Currency Swap Aud | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Cash outflows | (1,103) | |
Over 1 year and up to 3 years | Cross Currency Swap Nok | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Cash outflows | (1,215) | |
Over 1 months and up to 3 months | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Net cash flows | ||
Over 1 months and up to 3 months | Cross Currency Swap CHF | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Cash outflows | (94,211) | |
Over 1 months and up to 3 months | Cross Currency Swap EUR | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Cash outflows | ||
Over 1 months and up to 3 months | Cross Currency Swap HKD | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Cash outflows | ||
Over 1 months and up to 3 months | Cross Currency Swap JPY | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Cash outflows | (33,570) | (50,247) |
Over 1 months and up to 3 months | Cross Currency Swap USD | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Cash outflows | ||
Over 1 months and up to 3 months | Cross Currency Swap PEN | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Cash outflows | (47) | |
Over 1 months and up to 3 months | Cross Currency Swap Aud | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Cash outflows | (31) | |
Over 1 months and up to 3 months | Cross Currency Swap Nok | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Cash outflows | ||
Over 5 years | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Net cash flows | ||
Over 5 years | Cross Currency Swap CHF | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Cash outflows | (108,488) | |
Over 5 years | Cross Currency Swap EUR | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Cash outflows | (85,686) | (85,250) |
Over 5 years | Cross Currency Swap HKD | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Cash outflows | (268,034) | (233,286) |
Over 5 years | Cross Currency Swap JPY | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Cash outflows | (199,778) | (78,611) |
Over 5 years | Cross Currency Swap USD | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Cash outflows | (37,242) | (36,888) |
Over 5 years | Cross Currency Swap PEN | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Cash outflows | (31,223) | |
Over 5 years | Cross Currency Swap Aud | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Cash outflows | (108,622) | |
Over 5 years | Cross Currency Swap Nok | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Cash outflows | (64,483) | |
Up to 1 month | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Net cash flows | ||
Up to 1 month | Cross Currency Swap CHF | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Cash outflows | ||
Up to 1 month | Cross Currency Swap EUR | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Cash outflows | ||
Up to 1 month | Cross Currency Swap HKD | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Cash outflows | (156) | |
Up to 1 month | Cross Currency Swap JPY | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Cash outflows | ||
Up to 1 month | Cross Currency Swap USD | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Cash outflows | ||
Up to 1 month | Cross Currency Swap PEN | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Cash outflows | ||
Up to 1 month | Cross Currency Swap Aud | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Cash outflows | ||
Up to 1 month | Cross Currency Swap Nok | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Cash outflows | ||
Cash flow in CLF | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Cash inflows | 1,364,073 | 1,293,174 |
Cash flow in CLF | Over 3 years and up to 5 years | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Cash inflows | 280,074 | 195,590 |
Cash flow in CLF | Over 3 months and up to 12 months [Member] | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Cash inflows | 21,062 | 237,340 |
Cash flow in CLF | Over 1 year and up to 3 years | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Cash inflows | 234,065 | 173,263 |
Cash flow in CLF | Over 1 months and up to 3 months | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Cash inflows | 33,648 | 144,458 |
Cash flow in CLF | Over 5 years | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Cash inflows | 795,068 | $ 542,523 |
Cash flow in CLF | Up to 1 month | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Cash inflows | $ 156 |
Derivative Instruments and Ac_7
Derivative Instruments and Accounting Hedges - CLF assets hedged (Details Textual) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019CLP ($) | Dec. 31, 2018CLP ($)Segment | Dec. 31, 2017CLP ($)Segment | |
Disclosure of information about amounts that affected statement of comprehensive income as result of hedge accounting [line items] | |||
Accumulated amount of unrealized gain charged to equity, before tax | $ (37,546) | $ (30,943) | $ 14,979 |
Cash flow hedge adjustment, net | (27,408) | (22,589) | 11,158 |
Cash flow in CLF | Cash Flow Hedges | |||
Disclosure of information about amounts that affected statement of comprehensive income as result of hedge accounting [line items] | |||
Accumulated amount of unrealized gain charged to equity, before tax | 37,564 | 30,943 | 14,979 |
Cash flow hedge adjustment, net | 27,408 | 22,589 | 11,158 |
Accumulated amount of unrealized gain charged to equity, after income tax | 59,391 | 31,983 | 9,394 |
Net effect in income of derivatives | $ 84,684 | $ 85,659 | $ 93,612 |
Number of hedges of net investments in foreign businesses | Segment | 0 | 0 |
Loans and Advances to Banks, _3
Loans and Advances to Banks, Net (Details) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Loans and Advances to Banks, net [abstract] | ||
Interbank loans | $ 150,007 | $ 100,023 |
Other credits with domestic banks | ||
Provisions for loans to domestic banks | (33) | (247) |
Subtotal | 149,974 | 99,776 |
Loans to foreign banks | 289,337 | 239,797 |
Credits with third countries | 8,934 | 41,872 |
Chilean export trade banks | 61,860 | 12,873 |
Provisions for loans to foreign banks | (77) | (765) |
Subtotal | 360,054 | 293,777 |
Central Bank deposits | 630,053 | 1,100,306 |
Other Central Bank credits | 525 | |
Subtotal | 630,053 | 1,100,831 |
Total | $ 1,140,081 | $ 1,494,384 |
Loans and Advances to Banks, _4
Loans and Advances to Banks, Net - Credit quality and the maximum exposure to credit risk (Details) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Statement Line Items [Line Items] | ||
Normal | $ 150,007 | $ 100,023 |
Substandard | ||
Non-complying | ||
Subtotal | 150,007 | 100,023 |
Normal | 360,131 | 294,542 |
Substandard | ||
Non-complying | ||
Subtotal | 360,131 | 294,542 |
Normal | 630,053 | 1,100,831 |
Substandard | ||
Non-complying | ||
Subtotal | 630,053 | 1,100,831 |
Total | 1,140,191 | 1,495,396 |
Stage 1 [Member] | Individual [Member] | ||
Statement Line Items [Line Items] | ||
Normal | 150,007 | 100,023 |
Substandard | ||
Non-complying | ||
Subtotal | 150,007 | 100,023 |
Normal | 238,491 | 266,648 |
Substandard | ||
Non-complying | ||
Subtotal | 238,491 | 266,648 |
Normal | 630,053 | 1,100,831 |
Substandard | ||
Non-complying | ||
Subtotal | 630,053 | 1,100,831 |
Total | 1,018,551 | 1,467,502 |
Stage 2 [Member] | Individual [Member] | ||
Statement Line Items [Line Items] | ||
Normal | ||
Substandard | ||
Non-complying | ||
Subtotal | ||
Normal | 121,640 | 27,894 |
Substandard | ||
Non-complying | ||
Subtotal | 121,640 | 27,894 |
Normal | ||
Substandard | ||
Non-complying | ||
Subtotal | ||
Total | 121,640 | 27,894 |
Stage 3 [Member] | Individual [Member] | ||
Statement Line Items [Line Items] | ||
Normal | ||
Substandard | ||
Non-complying | ||
Subtotal | ||
Normal | ||
Substandard | ||
Non-complying | ||
Subtotal | ||
Normal | ||
Substandard | ||
Non-complying | ||
Subtotal | ||
Total |
Loans and Advances to Banks, _5
Loans and Advances to Banks, Net - Changes in gross carrying amount and corresponding allowance for ECL (Details) - Individual [Member] - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Financial assets at beginning of period | $ 1,012 | $ 772 | |
Net change on ECL allowances | [1] | (880) | 259 |
Transfer to Stage 1 | |||
Transfer to Stage 2 | |||
Transfer to Stage 3 | |||
Impact on year-end ECL of exposures transferred between stages during the year | [2] | 3 | |
Amounts written off | |||
Foreign exchange adjustments | (22) | (22) | |
Financial assets at end of period | 110 | 1,012 | |
Stage 1 [Member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Financial assets at beginning of period | 937 | 772 | |
Net change on ECL allowances | [1] | (832) | 250 |
Transfer to Stage 1 | 26 | ||
Transfer to Stage 2 | (27) | (63) | |
Transfer to Stage 3 | |||
Impact on year-end ECL of exposures transferred between stages during the year | [2] | ||
Amounts written off | |||
Foreign exchange adjustments | (20) | (22) | |
Financial assets at end of period | 84 | 937 | |
Stage 2 [Member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Financial assets at beginning of period | 75 | ||
Net change on ECL allowances | [1] | (48) | 9 |
Transfer to Stage 1 | (26) | ||
Transfer to Stage 2 | 27 | 63 | |
Transfer to Stage 3 | |||
Impact on year-end ECL of exposures transferred between stages during the year | [2] | 3 | |
Amounts written off | |||
Foreign exchange adjustments | (2) | ||
Financial assets at end of period | 26 | 75 | |
Stage 3 [Member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Financial assets at beginning of period | |||
Net change on ECL allowances | [1] | ||
Transfer to Stage 1 | |||
Transfer to Stage 2 | |||
Transfer to Stage 3 | |||
Impact on year-end ECL of exposures transferred between stages during the year | [2] | ||
Amounts written off | |||
Foreign exchange adjustments | |||
Financial assets at end of period | |||
Gross Carrying Amount [Member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Financial assets at beginning of period | 1,495,396 | 760,285 | |
Net change on ECL allowances | [1] | (327,712) | 748,184 |
Transfer to Stage 1 | |||
Transfer to Stage 2 | |||
Transfer to Stage 3 | |||
Impact on year-end ECL of exposures transferred between stages during the year | [2] | ||
Amounts written off | |||
Foreign exchange adjustments | (27,493) | (13,073) | |
Financial assets at end of period | 1,140,191 | 1,495,396 | |
Gross Carrying Amount [Member] | Stage 1 [Member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Financial assets at beginning of period | 1,467,502 | 760,285 | |
Net change on ECL allowances | [1] | (321,373) | 746,808 |
Transfer to Stage 1 | 16,405 | ||
Transfer to Stage 2 | (126,709) | (26,518) | |
Transfer to Stage 3 | |||
Impact on year-end ECL of exposures transferred between stages during the year | [2] | ||
Changes to models and assumptions | |||
Amounts written off | |||
Foreign exchange adjustments | (17,274) | (13,073) | |
Financial assets at end of period | 1,018,551 | 1,467,502 | |
Gross Carrying Amount [Member] | Stage 2 [Member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Financial assets at beginning of period | 27,894 | ||
Net change on ECL allowances | [1] | (6,339) | 1,376 |
Transfer to Stage 1 | (16,405) | ||
Transfer to Stage 2 | 126,709 | 26,518 | |
Transfer to Stage 3 | |||
Impact on year-end ECL of exposures transferred between stages during the year | [2] | ||
Amounts written off | |||
Foreign exchange adjustments | (10,219) | ||
Financial assets at end of period | 121,640 | 27,894 | |
Gross Carrying Amount [Member] | Stage 3 [Member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Financial assets at beginning of period | |||
Net change on ECL allowances | [1] | ||
Transfer to Stage 1 | |||
Transfer to Stage 2 | |||
Transfer to Stage 3 | |||
Impact on year-end ECL of exposures transferred between stages during the year | [2] | ||
Amounts written off | |||
Foreign exchange adjustments | |||
Financial assets at end of period | |||
[1] | Net change between assets originated and assets repaid, excluding write offs. | ||
[2] | Represents the change in the year-end ECLs of exposures that were transferred from one stage to another during the year. |
Loans to Customers at Amortiz_3
Loans to Customers at Amortized Cost (Details) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of detailed information about financial instruments [line items] | |||
Loans to customers | $ 29,384,039 | $ 27,341,254 | |
Commercial loans | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans to customers | 11,947,190 | 11,321,469 | |
Foreign trade loans | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans to customers | 1,419,488 | 1,300,079 | |
Current account debtors | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans to customers | 256,319 | 213,102 | |
Factoring transactions | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans to customers | 683,320 | 696,988 | |
Student loans | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans to customers | 53,777 | 50,478 | |
Commercial lease transactions | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans to customers | [1] | 1,601,026 | 1,556,221 |
Other loans and accounts receivable | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans to customers | 78,291 | 71,197 | |
Commercial loans | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans to customers | 16,039,411 | 15,209,534 | |
Mortgage bonds | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans to customers | 14,634 | 21,222 | |
Transferable mortgage loans | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans to customers | 32,229 | 42,087 | |
Other residential real estate mortgage loans | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans to customers | 9,105,448 | 7,944,217 | |
Credits from ANAP | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans to customers | 4 | 6 | |
Other loans and accounts receivable | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans to customers | 10,704 | 10,211 | |
Mortgages | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans to customers | 9,163,019 | 8,017,743 | |
Consumer loans in installments | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans to customers | 2,758,123 | 2,693,951 | |
Current account debtors | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans to customers | 281,924 | 299,915 | |
Credit card debtors | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans to customers | 1,141,310 | 1,119,810 | |
Consumer lease transactions | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans to customers | [1] | 69 | 9 |
Other loans and accounts receivable | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans to customers | 183 | 292 | |
Consumer loans | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans to customers | 4,181,609 | 4,113,977 | |
Gross Balance | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans to customers | 30,033,272 | 27,926,632 | |
Gross Balance | Commercial loans | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans to customers | 12,144,720 | 11,496,591 | |
Gross Balance | Foreign trade loans | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans to customers | 1,431,794 | 1,313,001 | |
Gross Balance | Current account debtors | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans to customers | 265,762 | 222,218 | |
Gross Balance | Factoring transactions | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans to customers | 688,198 | 701,005 | |
Gross Balance | Student loans | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans to customers | 56,219 | 51,919 | |
Gross Balance | Commercial lease transactions | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans to customers | [1] | 1,619,772 | 1,571,999 |
Gross Balance | Other loans and accounts receivable | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans to customers | 87,747 | 81,665 | |
Gross Balance | Commercial loans | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans to customers | 16,294,212 | 15,438,398 | |
Gross Balance | Mortgage bonds | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans to customers | 14,808 | 21,443 | |
Gross Balance | Transferable mortgage loans | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans to customers | 32,386 | 42,313 | |
Gross Balance | Other residential real estate mortgage loans | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans to customers | 9,148,811 | 7,978,092 | |
Gross Balance | Credits from ANAP | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans to customers | 4 | 6 | |
Gross Balance | Other loans and accounts receivable | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans to customers | 10,718 | 10,219 | |
Gross Balance | Mortgages | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans to customers | 9,206,727 | 8,052,073 | |
Gross Balance | Consumer loans in installments | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans to customers | 3,039,560 | 2,957,493 | |
Gross Balance | Current account debtors | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans to customers | 296,374 | 312,783 | |
Gross Balance | Credit card debtors | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans to customers | 1,195,614 | 1,165,064 | |
Gross Balance | Consumer lease transactions | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans to customers | [1] | 69 | 9 |
Gross Balance | Other loans and accounts receivable | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans to customers | 716 | 812 | |
Gross Balance | Consumer loans | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans to customers | 4,532,333 | 4,436,161 | |
Accumulated Impairment | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans to customers | (649,233) | (585,378) | |
Accumulated Impairment | Commercial loans | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans to customers | (197,530) | (175,122) | |
Accumulated Impairment | Foreign trade loans | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans to customers | (12,306) | (12,922) | |
Accumulated Impairment | Current account debtors | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans to customers | (9,443) | (9,116) | |
Accumulated Impairment | Factoring transactions | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans to customers | (4,878) | (4,017) | |
Accumulated Impairment | Student loans | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans to customers | (2,442) | (1,441) | |
Accumulated Impairment | Commercial lease transactions | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans to customers | [1] | (18,746) | (15,778) |
Accumulated Impairment | Other loans and accounts receivable | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans to customers | (9,456) | (10,468) | |
Accumulated Impairment | Commercial loans | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans to customers | (254,801) | 228,864 | |
Accumulated Impairment | Mortgage bonds | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans to customers | (174) | (221) | |
Accumulated Impairment | Transferable mortgage loans | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans to customers | (157) | (226) | |
Accumulated Impairment | Other residential real estate mortgage loans | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans to customers | (43,363) | (33,875) | |
Accumulated Impairment | Credits from ANAP | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans to customers | |||
Accumulated Impairment | Other loans and accounts receivable | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans to customers | (14) | (8) | |
Accumulated Impairment | Mortgages | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans to customers | (43,708) | (34,330) | |
Accumulated Impairment | Consumer loans in installments | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans to customers | (281,437) | (263,542) | |
Accumulated Impairment | Current account debtors | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans to customers | (14,450) | (12,868) | |
Accumulated Impairment | Credit card debtors | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans to customers | (54,304) | (45,254) | |
Accumulated Impairment | Consumer lease transactions | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans to customers | [1] | ||
Accumulated Impairment | Other loans and accounts receivable | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans to customers | (533) | (520) | |
Accumulated Impairment | Consumer loans | |||
Disclosure of detailed information about financial instruments [line items] | |||
Loans to customers | $ (350,724) | $ 322,184 | |
[1] | In this item, the Bank finances its customers' purchases of assets, including real estate and other personal property, through financial lease agreements. As of December 31, 2019, Ch$779,682 million corresponds to financial leases for real estate (Ch$758,970 million in December 2018) and Ch$840,159 million corresponds to financial leases for other assets (Ch$813,038 million in December 2018). |
Loans to Customers at Amortiz_4
Loans to Customers at Amortized Cost - Credit quality and the maximum exposure to credit risk (Details) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Statement Line Items [Line Items] | ||
Total | $ 30,033,272 | $ 27,926,632 |
Normal [Member] | ||
Statement Line Items [Line Items] | ||
Commercial loans | 15,800,666 | 14,969,565 |
Mortgage loans | 9,031,624 | 7,887,217 |
Consumer loans | 4,241,342 | 4,166,767 |
Substandard [Member] | ||
Statement Line Items [Line Items] | ||
Commercial loans | 71,718 | 94,894 |
Non-complying [Member] | ||
Statement Line Items [Line Items] | ||
Commercial loans | 421,828 | 373,939 |
Mortgage loans | 175,103 | 164,856 |
Consumer loans | 290,991 | 269,394 |
Subtotal [Member] | ||
Statement Line Items [Line Items] | ||
Commercial loans | 16,294,212 | 15,438,398 |
Mortgage loans | 9,206,727 | 8,052,073 |
Consumer loans | 4,532,333 | 4,436,161 |
Stage 1 [Member] | Individual [Member] | ||
Statement Line Items [Line Items] | ||
Total | 9,880,799 | 9,426,420 |
Stage 1 [Member] | Individual [Member] | Normal [Member] | ||
Statement Line Items [Line Items] | ||
Commercial loans | 9,880,799 | 9,426,420 |
Mortgage loans | ||
Consumer loans | ||
Stage 1 [Member] | Individual [Member] | Substandard [Member] | ||
Statement Line Items [Line Items] | ||
Commercial loans | ||
Stage 1 [Member] | Individual [Member] | Non-complying [Member] | ||
Statement Line Items [Line Items] | ||
Commercial loans | ||
Mortgage loans | ||
Consumer loans | ||
Stage 1 [Member] | Individual [Member] | Subtotal [Member] | ||
Statement Line Items [Line Items] | ||
Commercial loans | 9,880,799 | 9,426,420 |
Mortgage loans | ||
Consumer loans | ||
Stage 1 [Member] | Group [Member] | ||
Statement Line Items [Line Items] | ||
Total | 15,439,567 | 13,109,173 |
Stage 1 [Member] | Group [Member] | Normal [Member] | ||
Statement Line Items [Line Items] | ||
Commercial loans | 3,369,494 | 3,049,264 |
Mortgage loans | 8,209,100 | 6,893,619 |
Consumer loans | 3,860,973 | 3,166,290 |
Stage 1 [Member] | Group [Member] | Substandard [Member] | ||
Statement Line Items [Line Items] | ||
Commercial loans | ||
Stage 1 [Member] | Group [Member] | Non-complying [Member] | ||
Statement Line Items [Line Items] | ||
Commercial loans | ||
Mortgage loans | ||
Consumer loans | ||
Stage 1 [Member] | Group [Member] | Subtotal [Member] | ||
Statement Line Items [Line Items] | ||
Commercial loans | 3,369,494 | 3,049,264 |
Mortgage loans | 8,209,100 | 6,893,619 |
Consumer loans | 3,860,973 | 3,166,290 |
Stage 2 [Member] | Individual [Member] | ||
Statement Line Items [Line Items] | ||
Total | 2,059,481 | 2,134,848 |
Stage 2 [Member] | Individual [Member] | Normal [Member] | ||
Statement Line Items [Line Items] | ||
Commercial loans | 1,987,763 | 2,039,954 |
Mortgage loans | ||
Consumer loans | ||
Stage 2 [Member] | Individual [Member] | Substandard [Member] | ||
Statement Line Items [Line Items] | ||
Commercial loans | 71,718 | 94,894 |
Stage 2 [Member] | Individual [Member] | Non-complying [Member] | ||
Statement Line Items [Line Items] | ||
Commercial loans | ||
Mortgage loans | ||
Consumer loans | ||
Stage 2 [Member] | Individual [Member] | Subtotal [Member] | ||
Statement Line Items [Line Items] | ||
Commercial loans | 2,059,481 | 2,134,848 |
Mortgage loans | ||
Consumer loans | ||
Stage 2 [Member] | Group [Member] | ||
Statement Line Items [Line Items] | ||
Total | 1,757,169 | 2,429,234 |
Stage 2 [Member] | Group [Member] | Normal [Member] | ||
Statement Line Items [Line Items] | ||
Commercial loans | 561,831 | 447,225 |
Mortgage loans | 822,524 | 993,085 |
Consumer loans | 372,814 | 975,898 |
Stage 2 [Member] | Group [Member] | Substandard [Member] | ||
Statement Line Items [Line Items] | ||
Commercial loans | ||
Stage 2 [Member] | Group [Member] | Non-complying [Member] | ||
Statement Line Items [Line Items] | ||
Commercial loans | 13,026 | |
Mortgage loans | ||
Consumer loans | ||
Stage 2 [Member] | Group [Member] | Subtotal [Member] | ||
Statement Line Items [Line Items] | ||
Commercial loans | 561,831 | 460,251 |
Mortgage loans | 822,524 | 993,085 |
Consumer loans | 372,814 | 975,898 |
Stage 3 [Member] | Individual [Member] | ||
Statement Line Items [Line Items] | ||
Total | 152,972 | 120,564 |
Stage 3 [Member] | Individual [Member] | Normal [Member] | ||
Statement Line Items [Line Items] | ||
Commercial loans | ||
Mortgage loans | ||
Consumer loans | ||
Stage 3 [Member] | Individual [Member] | Substandard [Member] | ||
Statement Line Items [Line Items] | ||
Commercial loans | ||
Stage 3 [Member] | Individual [Member] | Non-complying [Member] | ||
Statement Line Items [Line Items] | ||
Commercial loans | 152,972 | 120,564 |
Mortgage loans | ||
Consumer loans | ||
Stage 3 [Member] | Individual [Member] | Subtotal [Member] | ||
Statement Line Items [Line Items] | ||
Commercial loans | 152,972 | 120,564 |
Mortgage loans | ||
Consumer loans | ||
Stage 3 [Member] | Group [Member] | ||
Statement Line Items [Line Items] | ||
Total | 741,560 | 705,778 |
Stage 3 [Member] | Group [Member] | Normal [Member] | ||
Statement Line Items [Line Items] | ||
Commercial loans | 779 | 6,702 |
Mortgage loans | 513 | |
Consumer loans | 7,555 | 24,579 |
Stage 3 [Member] | Group [Member] | Substandard [Member] | ||
Statement Line Items [Line Items] | ||
Commercial loans | ||
Stage 3 [Member] | Group [Member] | Non-complying [Member] | ||
Statement Line Items [Line Items] | ||
Commercial loans | 267,220 | 239,734 |
Mortgage loans | 175,103 | 164,856 |
Consumer loans | 290,903 | 269,394 |
Stage 3 [Member] | Group [Member] | Subtotal [Member] | ||
Statement Line Items [Line Items] | ||
Commercial loans | 267,999 | 246,436 |
Mortgage loans | 175,103 | 165,369 |
Consumer loans | 298,458 | 293,973 |
POCI [Member] | ||
Statement Line Items [Line Items] | ||
Total | 1,724 | 615 |
POCI [Member] | Normal [Member] | ||
Statement Line Items [Line Items] | ||
Commercial loans | ||
Mortgage loans | ||
Consumer loans | ||
POCI [Member] | Substandard [Member] | ||
Statement Line Items [Line Items] | ||
Commercial loans | ||
POCI [Member] | Non-complying [Member] | ||
Statement Line Items [Line Items] | ||
Commercial loans | 1,636 | 615 |
Mortgage loans | ||
Consumer loans | 88 | |
POCI [Member] | Subtotal [Member] | ||
Statement Line Items [Line Items] | ||
Commercial loans | 1,636 | 615 |
Mortgage loans | ||
Consumer loans | $ 88 |
Loans to Customers at Amortiz_5
Loans to Customers at Amortized Cost - Changes in gross carrying amount and corresponding allowance for ECL (Details) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | |
Gross Carrying Amount | |||
Statement Line Items [Line Items] | |||
Total | $ 30,033,272 | $ 27,926,632 | |
Gross Carrying Amount | Commercial Loans | |||
Statement Line Items [Line Items] | |||
Balance | 15,438,398 | 13,960,818 | |
Net change on Balance | [1] | 1,118,555 | 1,304,337 |
Transfer to Stage 1 | |||
Transfer to Stage 2 | |||
Transfer to Stage 3 | |||
Impact on year-end ECL of exposures transferred between stages during the year | [2] | ||
Changes to models and assumptions | |||
Amounts written off | (55,698) | (52,419) | |
Foreign exchange adjustments | (207,043) | 225,662 | |
Subtotal Commercial loans | 16,294,212 | 15,438,398 | |
Gross Carrying Amount | Mortgage loans | |||
Statement Line Items [Line Items] | |||
Balance | 8,052,073 | 7,477,236 | |
Net change on Balance | [1] | 1,162,444 | 581,830 |
Transfer to Stage 1 | |||
Transfer to Stage 2 | |||
Transfer to Stage 3 | |||
Impact on year-end ECL of exposures transferred between stages during the year | [2] | ||
Changes to models and assumptions | |||
Amounts written off | (7,790) | (6,993) | |
Foreign exchange adjustments | |||
Subtotal Mortgage loans | 9,206,727 | 8,052,073 | |
Gross Carrying Amount | Consumer loans | |||
Statement Line Items [Line Items] | |||
Balance | 4,436,161 | 4,013,459 | |
Net change on Balance | [1] | 349,035 | 651,647 |
Transfer to Stage 1 | |||
Transfer to Stage 2 | |||
Transfer to Stage 3 | |||
Impact on year-end ECL of exposures transferred between stages during the year | [2] | ||
Changes to models and assumptions | |||
Amounts written off | (249,712) | (233,511) | |
Foreign exchange adjustments | (3,151) | 4,566 | |
Subtotal Consumer loans | 4,532,333 | 4,436,161 | |
ECL | |||
Statement Line Items [Line Items] | |||
Total | 649,233 | 585,378 | |
ECL | Commercial Loans | |||
Statement Line Items [Line Items] | |||
Balance | 228,864 | 221,410 | |
Net change on Balance | [1] | 35,779 | 11,488 |
Transfer to Stage 1 | |||
Transfer to Stage 2 | |||
Transfer to Stage 3 | |||
Impact on year-end ECL of exposures transferred between stages during the year | [2] | 29,160 | 43,116 |
Changes to models and assumptions | 18,386 | ||
Amounts written off | (55,698) | (52,419) | |
Foreign exchange adjustments | (1,690) | 5,269 | |
Subtotal Commercial loans | 254,801 | 228,864 | |
ECL | Mortgage loans | |||
Statement Line Items [Line Items] | |||
Balance | 34,330 | 33,777 | |
Net change on Balance | [1] | 8,059 | (4,056) |
Transfer to Stage 1 | |||
Transfer to Stage 2 | |||
Transfer to Stage 3 | |||
Impact on year-end ECL of exposures transferred between stages during the year | [2] | 5,574 | 11,602 |
Changes to models and assumptions | 3,535 | ||
Amounts written off | (7,790) | (6,993) | |
Foreign exchange adjustments | |||
Subtotal Mortgage loans | 43,708 | 34,330 | |
ECL | Consumer loans | |||
Statement Line Items [Line Items] | |||
Balance | 322,184 | 314,451 | |
Net change on Balance | [1] | 152,138 | 68,099 |
Transfer to Stage 1 | |||
Transfer to Stage 2 | |||
Transfer to Stage 3 | |||
Impact on year-end ECL of exposures transferred between stages during the year | [2] | 126,401 | |
Changes to models and assumptions | 173,078 | ||
Amounts written off | (249,712) | (233,511) | |
Foreign exchange adjustments | (287) | 67 | |
Subtotal Consumer loans | 350,724 | 322,184 | |
Stage 1 [Member] | Individual [Member] | Gross Carrying Amount | |||
Statement Line Items [Line Items] | |||
Total | 9,880,799 | 9,426,420 | |
Stage 1 [Member] | Individual [Member] | Gross Carrying Amount | Commercial Loans | |||
Statement Line Items [Line Items] | |||
Balance | 9,426,420 | 8,446,627 | |
Net change on Balance | [1] | 861,027 | 968,288 |
Transfer to Stage 1 | 873,349 | 681,223 | |
Transfer to Stage 2 | (1,120,580) | (811,209) | |
Transfer to Stage 3 | (2,593) | (15,175) | |
Impact on year-end ECL of exposures transferred between stages during the year | [2] | ||
Changes to models and assumptions | |||
Amounts written off | (150) | ||
Foreign exchange adjustments | (156,824) | 156,816 | |
Subtotal Commercial loans | 9,880,799 | 9,426,420 | |
Stage 1 [Member] | Individual [Member] | Gross Carrying Amount | Mortgage loans | |||
Statement Line Items [Line Items] | |||
Balance | |||
Net change on Balance | [1] | ||
Transfer to Stage 1 | |||
Transfer to Stage 2 | |||
Transfer to Stage 3 | |||
Impact on year-end ECL of exposures transferred between stages during the year | [2] | ||
Changes to models and assumptions | |||
Amounts written off | |||
Foreign exchange adjustments | |||
Subtotal Mortgage loans | |||
Stage 1 [Member] | Individual [Member] | Gross Carrying Amount | Consumer loans | |||
Statement Line Items [Line Items] | |||
Balance | |||
Net change on Balance | [1] | ||
Transfer to Stage 1 | |||
Transfer to Stage 2 | |||
Transfer to Stage 3 | |||
Impact on year-end ECL of exposures transferred between stages during the year | [2] | ||
Changes to models and assumptions | |||
Amounts written off | |||
Foreign exchange adjustments | |||
Subtotal Consumer loans | |||
Stage 1 [Member] | Individual [Member] | ECL | |||
Statement Line Items [Line Items] | |||
Total | 8,945 | 24,880 | |
Stage 1 [Member] | Individual [Member] | ECL | Commercial Loans | |||
Statement Line Items [Line Items] | |||
Balance | 24,880 | 16,527 | |
Net change on Balance | [1] | (14,709) | 9,424 |
Transfer to Stage 1 | 9,699 | 4,114 | |
Transfer to Stage 2 | (4,449) | (2,600) | |
Transfer to Stage 3 | (99) | (70) | |
Impact on year-end ECL of exposures transferred between stages during the year | [2] | (7,346) | (2,702) |
Changes to models and assumptions | 944 | ||
Amounts written off | (150) | ||
Foreign exchange adjustments | 25 | 337 | |
Subtotal Commercial loans | 8,945 | 24,880 | |
Stage 1 [Member] | Individual [Member] | ECL | Mortgage loans | |||
Statement Line Items [Line Items] | |||
Balance | |||
Net change on Balance | [1] | ||
Transfer to Stage 1 | |||
Transfer to Stage 2 | |||
Transfer to Stage 3 | |||
Impact on year-end ECL of exposures transferred between stages during the year | [2] | ||
Changes to models and assumptions | |||
Amounts written off | |||
Foreign exchange adjustments | |||
Subtotal Mortgage loans | |||
Stage 1 [Member] | Individual [Member] | ECL | Consumer loans | |||
Statement Line Items [Line Items] | |||
Balance | |||
Net change on Balance | [1] | ||
Transfer to Stage 1 | |||
Transfer to Stage 2 | |||
Transfer to Stage 3 | |||
Impact on year-end ECL of exposures transferred between stages during the year | [2] | ||
Changes to models and assumptions | |||
Amounts written off | |||
Foreign exchange adjustments | |||
Subtotal Consumer loans | |||
Stage 1 [Member] | Group [Member] | Gross Carrying Amount | |||
Statement Line Items [Line Items] | |||
Total | 15,439,567 | 13,109,173 | |
Stage 1 [Member] | Group [Member] | Gross Carrying Amount | Commercial Loans | |||
Statement Line Items [Line Items] | |||
Balance | 3,049,264 | 2,506,255 | |
Net change on Balance | [1] | 452,929 | 780,778 |
Transfer to Stage 1 | 1,005,072 | 375,672 | |
Transfer to Stage 2 | (1,118,008) | (602,997) | |
Transfer to Stage 3 | (13,769) | (16,665) | |
Impact on year-end ECL of exposures transferred between stages during the year | [2] | ||
Changes to models and assumptions | |||
Amounts written off | (55) | (67) | |
Foreign exchange adjustments | (5,939) | 6,288 | |
Subtotal Commercial loans | 3,369,494 | 3,049,264 | |
Stage 1 [Member] | Group [Member] | Gross Carrying Amount | Mortgage loans | |||
Statement Line Items [Line Items] | |||
Balance | 6,893,619 | 6,410,939 | |
Net change on Balance | [1] | 1,312,226 | 734,990 |
Transfer to Stage 1 | 1,516,595 | 399,309 | |
Transfer to Stage 2 | (1,513,235) | (651,619) | |
Transfer to Stage 3 | (105) | ||
Impact on year-end ECL of exposures transferred between stages during the year | [2] | ||
Changes to models and assumptions | |||
Amounts written off | |||
Foreign exchange adjustments | |||
Subtotal Mortgage loans | 8,209,100 | 6,893,619 | |
Stage 1 [Member] | Group [Member] | Gross Carrying Amount | Consumer loans | |||
Statement Line Items [Line Items] | |||
Balance | 3,166,290 | 2,761,640 | |
Net change on Balance | [1] | 493,973 | 1,007,548 |
Transfer to Stage 1 | 1,688,787 | 381,126 | |
Transfer to Stage 2 | (1,472,886) | (978,112) | |
Transfer to Stage 3 | (12,204) | (9,340) | |
Impact on year-end ECL of exposures transferred between stages during the year | [2] | ||
Changes to models and assumptions | |||
Amounts written off | (120) | (104) | |
Foreign exchange adjustments | (2,867) | 3,532 | |
Subtotal Consumer loans | 3,860,973 | 3,166,290 | |
Stage 1 [Member] | Group [Member] | ECL | |||
Statement Line Items [Line Items] | |||
Total | 117,690 | 71,591 | |
Stage 1 [Member] | Group [Member] | ECL | Commercial Loans | |||
Statement Line Items [Line Items] | |||
Balance | 21,594 | 16,663 | |
Net change on Balance | [1] | 3,915 | 12,463 |
Transfer to Stage 1 | 49,310 | 14,807 | |
Transfer to Stage 2 | (19,312) | (11,606) | |
Transfer to Stage 3 | (1,050) | (1,189) | |
Impact on year-end ECL of exposures transferred between stages during the year | [2] | (36,508) | (9,589) |
Changes to models and assumptions | (82) | ||
Amounts written off | (55) | (67) | |
Foreign exchange adjustments | (69) | 112 | |
Subtotal Commercial loans | 17,743 | 21,594 | |
Stage 1 [Member] | Group [Member] | ECL | Mortgage loans | |||
Statement Line Items [Line Items] | |||
Balance | 724 | 740 | |
Net change on Balance | [1] | 739 | 299 |
Transfer to Stage 1 | 16,318 | 892 | |
Transfer to Stage 2 | (742) | (404) | |
Transfer to Stage 3 | |||
Impact on year-end ECL of exposures transferred between stages during the year | [2] | (15,913) | (803) |
Changes to models and assumptions | 285 | ||
Amounts written off | |||
Foreign exchange adjustments | |||
Subtotal Mortgage loans | 1,411 | 724 | |
Stage 1 [Member] | Group [Member] | ECL | Consumer loans | |||
Statement Line Items [Line Items] | |||
Balance | 49,273 | 44,078 | |
Net change on Balance | [1] | 60,685 | 40,305 |
Transfer to Stage 1 | 243,865 | 26,682 | |
Transfer to Stage 2 | (90,968) | (44,301) | |
Transfer to Stage 3 | (2,646) | (2,024) | |
Impact on year-end ECL of exposures transferred between stages during the year | [2] | (161,427) | |
Changes to models and assumptions | (15,379) | ||
Amounts written off | (120) | (104) | |
Foreign exchange adjustments | (126) | 16 | |
Subtotal Consumer loans | 98,536 | 49,273 | |
Stage 2 [Member] | Individual [Member] | Gross Carrying Amount | |||
Statement Line Items [Line Items] | |||
Total | 2,059,481 | 2,134,848 | |
Stage 2 [Member] | Individual [Member] | Gross Carrying Amount | Commercial Loans | |||
Statement Line Items [Line Items] | |||
Balance | 2,134,848 | 2,228,401 | |
Net change on Balance | [1] | (231,267) | (254,542) |
Transfer to Stage 1 | (873,232) | (680,838) | |
Transfer to Stage 2 | 1,130,960 | 822,133 | |
Transfer to Stage 3 | (65,157) | (32,569) | |
Impact on year-end ECL of exposures transferred between stages during the year | [2] | ||
Changes to models and assumptions | |||
Amounts written off | (65) | (11) | |
Foreign exchange adjustments | (36,606) | 52,274 | |
Subtotal Commercial loans | 2,059,481 | 2,134,848 | |
Stage 2 [Member] | Individual [Member] | Gross Carrying Amount | Mortgage loans | |||
Statement Line Items [Line Items] | |||
Balance | |||
Net change on Balance | [1] | ||
Transfer to Stage 1 | |||
Transfer to Stage 2 | |||
Transfer to Stage 3 | |||
Impact on year-end ECL of exposures transferred between stages during the year | [2] | ||
Changes to models and assumptions | |||
Amounts written off | |||
Foreign exchange adjustments | |||
Subtotal Mortgage loans | |||
Stage 2 [Member] | Individual [Member] | Gross Carrying Amount | Consumer loans | |||
Statement Line Items [Line Items] | |||
Balance | |||
Net change on Balance | [1] | ||
Transfer to Stage 1 | |||
Transfer to Stage 2 | |||
Transfer to Stage 3 | |||
Impact on year-end ECL of exposures transferred between stages during the year | [2] | ||
Changes to models and assumptions | |||
Amounts written off | |||
Foreign exchange adjustments | |||
Subtotal Consumer loans | |||
Stage 2 [Member] | Individual [Member] | ECL | |||
Statement Line Items [Line Items] | |||
Total | 42,406 | 32,343 | |
Stage 2 [Member] | Individual [Member] | ECL | Commercial Loans | |||
Statement Line Items [Line Items] | |||
Balance | 32,343 | 31,252 | |
Net change on Balance | [1] | (3,240) | (5,045) |
Transfer to Stage 1 | (9,606) | (3,981) | |
Transfer to Stage 2 | 7,184 | 8,805 | |
Transfer to Stage 3 | (10,055) | (4,134) | |
Impact on year-end ECL of exposures transferred between stages during the year | [2] | 7,092 | 4,512 |
Changes to models and assumptions | 18,860 | ||
Amounts written off | (65) | (11) | |
Foreign exchange adjustments | (107) | 945 | |
Subtotal Commercial loans | 42,406 | 32,343 | |
Stage 2 [Member] | Individual [Member] | ECL | Mortgage loans | |||
Statement Line Items [Line Items] | |||
Balance | |||
Net change on Balance | [1] | ||
Transfer to Stage 1 | |||
Transfer to Stage 2 | |||
Transfer to Stage 3 | |||
Impact on year-end ECL of exposures transferred between stages during the year | [2] | ||
Changes to models and assumptions | |||
Amounts written off | |||
Foreign exchange adjustments | |||
Subtotal Mortgage loans | |||
Stage 2 [Member] | Individual [Member] | ECL | Consumer loans | |||
Statement Line Items [Line Items] | |||
Balance | |||
Net change on Balance | [1] | ||
Transfer to Stage 1 | |||
Transfer to Stage 2 | |||
Transfer to Stage 3 | |||
Impact on year-end ECL of exposures transferred between stages during the year | [2] | ||
Changes to models and assumptions | |||
Amounts written off | |||
Foreign exchange adjustments | |||
Subtotal Consumer loans | |||
Stage 2 [Member] | Group [Member] | Gross Carrying Amount | |||
Statement Line Items [Line Items] | |||
Total | 1,757,169 | 2,429,234 | |
Stage 2 [Member] | Group [Member] | Gross Carrying Amount | Commercial Loans | |||
Statement Line Items [Line Items] | |||
Balance | 460,251 | 408,337 | |
Net change on Balance | [1] | 57,965 | (105,114) |
Transfer to Stage 1 | (1,002,422) | (346,936) | |
Transfer to Stage 2 | 1,168,875 | 630,963 | |
Transfer to Stage 3 | (121,315) | (127,676) | |
Impact on year-end ECL of exposures transferred between stages during the year | [2] | ||
Changes to models and assumptions | |||
Amounts written off | (371) | (468) | |
Foreign exchange adjustments | (1,152) | 1,145 | |
Subtotal Commercial loans | 561,831 | 460,251 | |
Stage 2 [Member] | Group [Member] | Gross Carrying Amount | Mortgage loans | |||
Statement Line Items [Line Items] | |||
Balance | 993,085 | 904,826 | |
Net change on Balance | [1] | (117,481) | (115,034) |
Transfer to Stage 1 | (1,516,155) | (397,363) | |
Transfer to Stage 2 | 1,532,523 | 671,775 | |
Transfer to Stage 3 | (69,448) | (71,113) | |
Impact on year-end ECL of exposures transferred between stages during the year | [2] | ||
Changes to models and assumptions | |||
Amounts written off | (6) | ||
Foreign exchange adjustments | |||
Subtotal Mortgage loans | 822,524 | 993,085 | |
Stage 2 [Member] | Group [Member] | Gross Carrying Amount | Consumer loans | |||
Statement Line Items [Line Items] | |||
Balance | 975,898 | 967,918 | |
Net change on Balance | [1] | (212,059) | (416,546) |
Transfer to Stage 1 | (1,679,389) | (335,330) | |
Transfer to Stage 2 | 1,588,909 | 1,040,597 | |
Transfer to Stage 3 | (299,286) | (281,144) | |
Impact on year-end ECL of exposures transferred between stages during the year | [2] | ||
Changes to models and assumptions | |||
Amounts written off | (978) | (627) | |
Foreign exchange adjustments | (281) | 1,030 | |
Subtotal Consumer loans | 372,814 | 975,898 | |
Stage 2 [Member] | Group [Member] | ECL | |||
Statement Line Items [Line Items] | |||
Total | 136,125 | 148,354 | |
Stage 2 [Member] | Group [Member] | ECL | Commercial Loans | |||
Statement Line Items [Line Items] | |||
Balance | 21,167 | 20,247 | |
Net change on Balance | [1] | 5,054 | (18,338) |
Transfer to Stage 1 | (48,694) | (6,387) | |
Transfer to Stage 2 | 28,065 | 15,817 | |
Transfer to Stage 3 | (12,628) | (13,572) | |
Impact on year-end ECL of exposures transferred between stages during the year | [2] | 39,878 | 23,822 |
Changes to models and assumptions | (861) | ||
Amounts written off | (371) | (468) | |
Foreign exchange adjustments | (83) | 46 | |
Subtotal Commercial loans | 31,527 | 21,167 | |
Stage 2 [Member] | Group [Member] | ECL | Mortgage loans | |||
Statement Line Items [Line Items] | |||
Balance | 16,895 | 17,351 | |
Net change on Balance | [1] | 6,768 | (8,772) |
Transfer to Stage 1 | (16,281) | (758) | |
Transfer to Stage 2 | 2,239 | 2,112 | |
Transfer to Stage 3 | (2,770) | (2,693) | |
Impact on year-end ECL of exposures transferred between stages during the year | [2] | 19,262 | 9,661 |
Changes to models and assumptions | 3,250 | ||
Amounts written off | (6) | ||
Foreign exchange adjustments | |||
Subtotal Mortgage loans | 29,363 | 16,895 | |
Stage 2 [Member] | Group [Member] | ECL | Consumer loans | |||
Statement Line Items [Line Items] | |||
Balance | 110,292 | 115,096 | |
Net change on Balance | [1] | (48,295) | (91,527) |
Transfer to Stage 1 | (240,444) | (9,604) | |
Transfer to Stage 2 | 129,954 | 68,448 | |
Transfer to Stage 3 | (78,223) | (72,629) | |
Impact on year-end ECL of exposures transferred between stages during the year | [2] | 203,042 | |
Changes to models and assumptions | 101,086 | ||
Amounts written off | (978) | (627) | |
Foreign exchange adjustments | (113) | 49 | |
Subtotal Consumer loans | 75,235 | 110,292 | |
Stage 3 [Member] | Individual [Member] | Gross Carrying Amount | |||
Statement Line Items [Line Items] | |||
Total | 152,972 | 120,564 | |
Stage 3 [Member] | Individual [Member] | Gross Carrying Amount | Commercial Loans | |||
Statement Line Items [Line Items] | |||
Balance | 120,564 | 162,231 | |
Net change on Balance | [1] | (9,953) | (81,058) |
Transfer to Stage 1 | (117) | (385) | |
Transfer to Stage 2 | (10,380) | (10,924) | |
Transfer to Stage 3 | 67,750 | 47,744 | |
Impact on year-end ECL of exposures transferred between stages during the year | [2] | ||
Changes to models and assumptions | |||
Amounts written off | (8,587) | (5,422) | |
Foreign exchange adjustments | (6,305) | 8,378 | |
Subtotal Commercial loans | 152,972 | 120,564 | |
Stage 3 [Member] | Individual [Member] | Gross Carrying Amount | Mortgage loans | |||
Statement Line Items [Line Items] | |||
Balance | |||
Net change on Balance | [1] | ||
Transfer to Stage 1 | |||
Transfer to Stage 2 | |||
Transfer to Stage 3 | |||
Impact on year-end ECL of exposures transferred between stages during the year | [2] | ||
Changes to models and assumptions | |||
Amounts written off | |||
Foreign exchange adjustments | |||
Subtotal Mortgage loans | |||
Stage 3 [Member] | Individual [Member] | Gross Carrying Amount | Consumer loans | |||
Statement Line Items [Line Items] | |||
Balance | |||
Net change on Balance | [1] | ||
Transfer to Stage 1 | |||
Transfer to Stage 2 | |||
Transfer to Stage 3 | |||
Impact on year-end ECL of exposures transferred between stages during the year | [2] | ||
Changes to models and assumptions | |||
Amounts written off | |||
Foreign exchange adjustments | |||
Subtotal Consumer loans | |||
Stage 3 [Member] | Individual [Member] | ECL | |||
Statement Line Items [Line Items] | |||
Total | 47,296 | 32,694 | |
Stage 3 [Member] | Individual [Member] | ECL | Commercial Loans | |||
Statement Line Items [Line Items] | |||
Balance | 32,694 | 50,014 | |
Net change on Balance | [1] | 7,859 | (18,715) |
Transfer to Stage 1 | (93) | (133) | |
Transfer to Stage 2 | (2,734) | (6,205) | |
Transfer to Stage 3 | 10,153 | 4,204 | |
Impact on year-end ECL of exposures transferred between stages during the year | [2] | 9,378 | 5,505 |
Changes to models and assumptions | |||
Amounts written off | (8,587) | (5,422) | |
Foreign exchange adjustments | (1,374) | 3,446 | |
Subtotal Commercial loans | 47,296 | 32,694 | |
Stage 3 [Member] | Individual [Member] | ECL | Mortgage loans | |||
Statement Line Items [Line Items] | |||
Balance | |||
Net change on Balance | [1] | ||
Transfer to Stage 1 | |||
Transfer to Stage 2 | |||
Transfer to Stage 3 | |||
Impact on year-end ECL of exposures transferred between stages during the year | [2] | ||
Changes to models and assumptions | |||
Amounts written off | |||
Foreign exchange adjustments | |||
Subtotal Mortgage loans | |||
Stage 3 [Member] | Individual [Member] | ECL | Consumer loans | |||
Statement Line Items [Line Items] | |||
Balance | |||
Net change on Balance | [1] | ||
Transfer to Stage 1 | |||
Transfer to Stage 2 | |||
Transfer to Stage 3 | |||
Impact on year-end ECL of exposures transferred between stages during the year | [2] | ||
Changes to models and assumptions | |||
Amounts written off | |||
Foreign exchange adjustments | |||
Subtotal Consumer loans | |||
Stage 3 [Member] | Group [Member] | Gross Carrying Amount | |||
Statement Line Items [Line Items] | |||
Total | 741,560 | 705,778 | |
Stage 3 [Member] | Group [Member] | Gross Carrying Amount | Commercial Loans | |||
Statement Line Items [Line Items] | |||
Balance | 246,436 | 208,944 | |
Net change on Balance | [1] | (13,173) | (4,607) |
Transfer to Stage 1 | (2,650) | (28,736) | |
Transfer to Stage 2 | (50,867) | (27,966) | |
Transfer to Stage 3 | 135,084 | 144,341 | |
Impact on year-end ECL of exposures transferred between stages during the year | [2] | ||
Changes to models and assumptions | |||
Amounts written off | (46,614) | (46,301) | |
Foreign exchange adjustments | (217) | 761 | |
Subtotal Commercial loans | 267,999 | 246,436 | |
Stage 3 [Member] | Group [Member] | Gross Carrying Amount | Mortgage loans | |||
Statement Line Items [Line Items] | |||
Balance | 165,369 | 161,471 | |
Net change on Balance | [1] | (32,301) | (38,126) |
Transfer to Stage 1 | (440) | (1,946) | |
Transfer to Stage 2 | (19,288) | (20,156) | |
Transfer to Stage 3 | 69,553 | 71,113 | |
Impact on year-end ECL of exposures transferred between stages during the year | [2] | ||
Changes to models and assumptions | |||
Amounts written off | (7,790) | (6,987) | |
Foreign exchange adjustments | |||
Subtotal Mortgage loans | 175,103 | 165,369 | |
Stage 3 [Member] | Group [Member] | Gross Carrying Amount | Consumer loans | |||
Statement Line Items [Line Items] | |||
Balance | 293,973 | 283,901 | |
Net change on Balance | [1] | 67,033 | 60,645 |
Transfer to Stage 1 | (9,398) | (45,796) | |
Transfer to Stage 2 | (116,023) | (62,485) | |
Transfer to Stage 3 | 311,490 | 290,484 | |
Impact on year-end ECL of exposures transferred between stages during the year | [2] | ||
Changes to models and assumptions | |||
Amounts written off | (248,614) | (232,780) | |
Foreign exchange adjustments | (3) | 4 | |
Subtotal Consumer loans | 298,458 | 293,973 | |
Stage 3 [Member] | Group [Member] | ECL | |||
Statement Line Items [Line Items] | |||
Total | 296,452 | 275,217 | |
Stage 3 [Member] | Group [Member] | ECL | Commercial Loans | |||
Statement Line Items [Line Items] | |||
Balance | 95,887 | 86,701 | |
Net change on Balance | [1] | 36,913 | 31,406 |
Transfer to Stage 1 | (616) | (8,420) | |
Transfer to Stage 2 | (8,754) | (4,211) | |
Transfer to Stage 3 | 13,679 | 14,761 | |
Impact on year-end ECL of exposures transferred between stages during the year | [2] | 16,666 | 21,568 |
Changes to models and assumptions | (470) | ||
Amounts written off | (46,614) | (46,301) | |
Foreign exchange adjustments | (82) | 383 | |
Subtotal Commercial loans | 106,609 | 95,887 | |
Stage 3 [Member] | Group [Member] | ECL | Mortgage loans | |||
Statement Line Items [Line Items] | |||
Balance | 16,711 | 15,686 | |
Net change on Balance | [1] | 552 | 4,417 |
Transfer to Stage 1 | (37) | (134) | |
Transfer to Stage 2 | (1,497) | (1,708) | |
Transfer to Stage 3 | 2,770 | 2,693 | |
Impact on year-end ECL of exposures transferred between stages during the year | [2] | 2,225 | 2,744 |
Changes to models and assumptions | |||
Amounts written off | (7,790) | (6,987) | |
Foreign exchange adjustments | |||
Subtotal Mortgage loans | 12,934 | 16,711 | |
Stage 3 [Member] | Group [Member] | ECL | Consumer loans | |||
Statement Line Items [Line Items] | |||
Balance | 162,619 | 155,277 | |
Net change on Balance | [1] | 139,704 | 119,321 |
Transfer to Stage 1 | (3,421) | (17,078) | |
Transfer to Stage 2 | (38,986) | (24,147) | |
Transfer to Stage 3 | 80,869 | 74,653 | |
Impact on year-end ECL of exposures transferred between stages during the year | [2] | 84,786 | |
Changes to models and assumptions | 87,371 | ||
Amounts written off | (248,614) | (232,780) | |
Foreign exchange adjustments | (48) | 2 | |
Subtotal Consumer loans | 176,909 | 162,619 | |
POCI [Member] | Gross Carrying Amount | |||
Statement Line Items [Line Items] | |||
Total | 1,724 | 615 | |
POCI [Member] | Gross Carrying Amount | Commercial Loans | |||
Statement Line Items [Line Items] | |||
Balance | 615 | 23 | |
Net change on Balance | [1] | 1,027 | 592 |
Transfer to Stage 1 | |||
Transfer to Stage 2 | |||
Transfer to Stage 3 | |||
Impact on year-end ECL of exposures transferred between stages during the year | [2] | ||
Changes to models and assumptions | |||
Amounts written off | (6) | ||
Foreign exchange adjustments | |||
Subtotal Commercial loans | 1,636 | 615 | |
POCI [Member] | Gross Carrying Amount | Mortgage loans | |||
Statement Line Items [Line Items] | |||
Balance | |||
Net change on Balance | [1] | ||
Transfer to Stage 1 | |||
Transfer to Stage 2 | |||
Transfer to Stage 3 | |||
Impact on year-end ECL of exposures transferred between stages during the year | [2] | ||
Changes to models and assumptions | |||
Amounts written off | |||
Foreign exchange adjustments | |||
Subtotal Mortgage loans | |||
POCI [Member] | Gross Carrying Amount | Consumer loans | |||
Statement Line Items [Line Items] | |||
Balance | |||
Net change on Balance | [1] | 88 | |
Transfer to Stage 1 | |||
Transfer to Stage 2 | |||
Transfer to Stage 3 | |||
Impact on year-end ECL of exposures transferred between stages during the year | [2] | ||
Changes to models and assumptions | |||
Amounts written off | |||
Foreign exchange adjustments | |||
Subtotal Consumer loans | 88 | ||
POCI [Member] | ECL | |||
Statement Line Items [Line Items] | |||
Total | 319 | 299 | |
POCI [Member] | ECL | Commercial Loans | |||
Statement Line Items [Line Items] | |||
Balance | 299 | 6 | |
Net change on Balance | [1] | (13) | 293 |
Transfer to Stage 1 | |||
Transfer to Stage 2 | |||
Transfer to Stage 3 | |||
Impact on year-end ECL of exposures transferred between stages during the year | [2] | ||
Changes to models and assumptions | (5) | ||
Amounts written off | (6) | ||
Foreign exchange adjustments | |||
Subtotal Commercial loans | 275 | 299 | |
POCI [Member] | ECL | Mortgage loans | |||
Statement Line Items [Line Items] | |||
Balance | |||
Net change on Balance | [1] | ||
Transfer to Stage 1 | |||
Transfer to Stage 2 | |||
Transfer to Stage 3 | |||
Impact on year-end ECL of exposures transferred between stages during the year | [2] | ||
Changes to models and assumptions | |||
Amounts written off | |||
Foreign exchange adjustments | |||
Subtotal Mortgage loans | |||
POCI [Member] | ECL | Consumer loans | |||
Statement Line Items [Line Items] | |||
Balance | |||
Net change on Balance | [1] | 44 | |
Transfer to Stage 1 | |||
Transfer to Stage 2 | |||
Transfer to Stage 3 | |||
Impact on year-end ECL of exposures transferred between stages during the year | [2] | ||
Changes to models and assumptions | |||
Amounts written off | |||
Foreign exchange adjustments | |||
Subtotal Consumer loans | $ 44 | ||
[1] | Net change between assets originated and assets repaid, excluding write offs. | ||
[2] | Represents the change in the year-end ECLs of exposures that were transferred from one stage to another during the year. |
Loans to Customers at Amortiz_6
Loans to Customers at Amortized Cost - Allowance for loan losses (Details) - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Allowances for loan losses | ||
Balance as of beginning of period | $ 585,378 | $ 569,638 |
Charge-offs | (313,200) | (292,923) |
Sales or transfer of credits | (958) | |
Allowances (released) established, net | 377,055 | 309,621 |
Balance as of end of period | 649,233 | 585,378 |
Commercial | ||
Allowances for loan losses | ||
Balance as of beginning of period | 228,864 | 221,410 |
Charge-offs | (55,698) | (52,419) |
Sales or transfer of credits | (958) | |
Allowances (released) established, net | 81,635 | 60,831 |
Balance as of end of period | 254,801 | 228,864 |
Mortgage loans | ||
Allowances for loan losses | ||
Balance as of beginning of period | 34,330 | 33,777 |
Charge-offs | (7,790) | (6,993) |
Sales or transfer of credits | ||
Allowances (released) established, net | 17,168 | 7,546 |
Balance as of end of period | 43,708 | 34,330 |
Consumer | ||
Allowances for loan losses | ||
Balance as of beginning of period | 322,184 | 314,451 |
Charge-offs | (249,712) | (233,511) |
Sales or transfer of credits | ||
Allowances (released) established, net | 278,252 | 241,244 |
Balance as of end of period | $ 350,724 | $ 322,184 |
Loans to Customers at Amortiz_7
Loans to Customers at Amortized Cost - Financial Lease Contracts (Details) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of maturity analysis of finance lease payments receivable [line items] | |||
Total receivable | $ 1,802,964 | $ 1,765,815 | |
Unearned income | (190,418) | (200,151) | |
Net lease receivable | [1] | 1,612,546 | 1,565,664 |
Due within one year | |||
Disclosure of maturity analysis of finance lease payments receivable [line items] | |||
Total receivable | 544,067 | 519,186 | |
Unearned income | (58,871) | (60,216) | |
Net lease receivable | [1] | 485,196 | 458,970 |
Due after 1 year but within 2 years | |||
Disclosure of maturity analysis of finance lease payments receivable [line items] | |||
Total receivable | 392,832 | 383,164 | |
Unearned income | (42,302) | (44,066) | |
Net lease receivable | [1] | 350,530 | 339,098 |
Due after 2 years but within 3 years | |||
Disclosure of maturity analysis of finance lease payments receivable [line items] | |||
Total receivable | 258,331 | 255,997 | |
Unearned income | (27,329) | (28,740) | |
Net lease receivable | [1] | 231,002 | 227,257 |
Due after 3 years but within 4 years | |||
Disclosure of maturity analysis of finance lease payments receivable [line items] | |||
Total receivable | 163,847 | 162,310 | |
Unearned income | (18,361) | (19,471) | |
Net lease receivable | [1] | 145,486 | 142,839 |
Due after 4 years but within 5 years | |||
Disclosure of maturity analysis of finance lease payments receivable [line items] | |||
Total receivable | 108,192 | 108,453 | |
Unearned income | (13,242) | (13,992) | |
Net lease receivable | [1] | 94,950 | 94,461 |
Due after 5 years | |||
Disclosure of maturity analysis of finance lease payments receivable [line items] | |||
Total receivable | 335,695 | 336,705 | |
Unearned income | (30,313) | (33,666) | |
Net lease receivable | [1] | $ 305,382 | $ 303,039 |
[1] | The net balance receivable does not include the total overdue portfolio totaling Ch$6,344 million and Ch$7,295 million as of December 31, 2018 and 2019, respectively. This overdue portfolio only reflects the past due portion without considering the remaining outstanding principal and interest. |
Loans to Customers at Amortiz_8
Loans to Customers at Amortized Cost - Loans by industry sector (Details) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of detailed information about financial instruments [line items] | ||
Loans to customers | $ 29,384,039 | $ 27,341,254 |
Commercial Loans | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans to customers | 16,039,411 | 15,209,534 |
Mortgages | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans to customers | 9,163,019 | 8,017,743 |
Consumer Loans [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans to customers | 4,181,609 | 4,113,977 |
Gross Carrying Amount | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans to customers | $ 30,033,272 | $ 27,926,632 |
% | 100.00% | 100.00% |
Gross Carrying Amount | Country Of Domicile [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans to customers | $ 93,544 | $ 27,833,088 |
Gross Carrying Amount | Foreign countries [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans to customers | 14,685 | 93,544 |
Gross Carrying Amount | Financial Services [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans to customers | $ 2,587,559 | $ 2,122,599 |
% | 8.62% | 7.60% |
Gross Carrying Amount | Financial Services [Member] | Country Of Domicile [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans to customers | $ 2,784 | $ 2,119,815 |
Gross Carrying Amount | Financial Services [Member] | Foreign countries [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans to customers | 3,060 | 2,784 |
Gross Carrying Amount | Services | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans to customers | $ 2,267,869 | $ 2,109,491 |
% | 7.55% | 7.55% |
Gross Carrying Amount | Services | Country Of Domicile [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans to customers | $ 348 | $ 2,109,143 |
Gross Carrying Amount | Services | Foreign countries [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans to customers | 436 | 348 |
Gross Carrying Amount | Construction | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans to customers | $ 2,142,699 | $ 1,752,237 |
% | 7.13% | 6.27% |
Gross Carrying Amount | Construction | Country Of Domicile [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans to customers | $ 1,752,237 | |
Gross Carrying Amount | Construction | Foreign countries [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans to customers | ||
Gross Carrying Amount | Commerce Sector [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans to customers | $ 2,066,372 | $ 2,324,325 |
% | 6.88% | 8.32% |
Gross Carrying Amount | Commerce Sector [Member] | Country Of Domicile [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans to customers | $ 38,430 | $ 2,285,895 |
Gross Carrying Amount | Commerce Sector [Member] | Foreign countries [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans to customers | 11,189 | 38,430 |
Gross Carrying Amount | Manufacturing | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans to customers | $ 1,624,972 | $ 1,579,475 |
% | 5.41% | 5.66% |
Gross Carrying Amount | Manufacturing | Country Of Domicile [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans to customers | $ 34,613 | $ 1,544,862 |
Gross Carrying Amount | Manufacturing | Foreign countries [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans to customers | 34,613 | |
Gross Carrying Amount | Agriculture and livestock | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans to customers | $ 1,623,465 | $ 1,582,520 |
% | 5.41% | 5.67% |
Gross Carrying Amount | Agriculture and livestock | Country Of Domicile [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans to customers | $ 1,582,520 | |
Gross Carrying Amount | Agriculture and livestock | Foreign countries [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans to customers | ||
Gross Carrying Amount | Transportation and telecommunications | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans to customers | $ 1,234,087 | $ 1,498,142 |
% | 4.11% | 5.37% |
Gross Carrying Amount | Transportation and telecommunications | Country Of Domicile [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans to customers | $ 17,369 | $ 1,480,773 |
Gross Carrying Amount | Transportation and telecommunications | Foreign countries [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans to customers | 17,369 | |
Gross Carrying Amount | Mining Sector [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans to customers | $ 604,660 | $ 453,549 |
% | 2.01% | 1.62% |
Gross Carrying Amount | Mining Sector [Member] | Country Of Domicile [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans to customers | $ 453,549 | |
Gross Carrying Amount | Mining Sector [Member] | Foreign countries [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans to customers | ||
Gross Carrying Amount | Water Sector [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans to customers | $ 325,143 | $ 461,351 |
% | 1.08% | 1.65% |
Gross Carrying Amount | Water Sector [Member] | Country Of Domicile [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans to customers | $ 461,351 | |
Gross Carrying Amount | Water Sector [Member] | Foreign countries [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans to customers | ||
Gross Carrying Amount | Fishing Sector [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans to customers | $ 140,709 | $ 156,472 |
% | 0.47% | 0.56% |
Gross Carrying Amount | Fishing Sector [Member] | Country Of Domicile [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans to customers | $ 156,472 | |
Gross Carrying Amount | Fishing Sector [Member] | Foreign countries [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans to customers | ||
Gross Carrying Amount | Other Sector [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans to customers | $ 1,676,677 | $ 1,398,237 |
% | 5.58% | 5.01% |
Gross Carrying Amount | Other Sector [Member] | Country Of Domicile [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans to customers | $ 1,398,237 | |
Gross Carrying Amount | Other Sector [Member] | Foreign countries [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans to customers | ||
Gross Carrying Amount | Commercial Loans | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans to customers | $ 16,294,212 | $ 15,438,398 |
% | 54.25% | 55.28% |
Gross Carrying Amount | Commercial Loans | Country Of Domicile [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans to customers | $ 30,018,587 | $ 15,344,854 |
Gross Carrying Amount | Commercial Loans | Foreign countries [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans to customers | 14,685 | 93,544 |
Gross Carrying Amount | Mortgages | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans to customers | $ 9,206,727 | $ 8,052,073 |
% | 30.66% | 28.83% |
Gross Carrying Amount | Mortgages | Country Of Domicile [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans to customers | $ 8,052,073 | |
Gross Carrying Amount | Mortgages | Foreign countries [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans to customers | ||
Gross Carrying Amount | Consumer Loans [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans to customers | $ 4,532,333 | $ 4,436,161 |
% | 15.09% | 15.89% |
Gross Carrying Amount | Consumer Loans [Member] | Country Of Domicile [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans to customers | $ 4,436,161 | |
Gross Carrying Amount | Consumer Loans [Member] | Foreign countries [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans to customers |
Loans to Customers at Amortiz_9
Loans to Customers at Amortized Cost - Sale or transfer of credits from the loans to customers (Details) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of financial assets [line items] | |||
Carrying amount | $ 12,420 | $ 22,567 | $ 33,681 |
Allowances released | (958) | (11,595) | |
Sale price | 12,420 | 21,876 | 24,149 |
Effect on income (loss) gain | 267 | 2,063 | |
Sale of outstanding loans [Member] | |||
Disclosure of financial assets [line items] | |||
Carrying amount | 12,420 | 22,567 | 33,681 |
Allowances released | (958) | (11,595) | |
Sale price | 12,420 | 21,876 | 24,126 |
Effect on income (loss) gain | 267 | 2,040 | |
Sale of write-off loans [Member] | |||
Disclosure of financial assets [line items] | |||
Carrying amount | |||
Allowances released | |||
Sale price | 23 | ||
Effect on income (loss) gain | $ 23 |
Loans to Customers at Amorti_10
Loans to Customers at Amortized Cost (Details Textual) - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Statement Line Items [Line Items] | ||
Nominal value of loans acquired | $ 36,919 | |
Total over due portfolio | 7,295 | 6,344 |
Loans to customers | 29,384,039 | 27,341,254 |
Finance Lease For Real Estate [Member] | ||
Statement Line Items [Line Items] | ||
Loans to customers | 779,682 | 758,970 |
Finance Lease For Other Assets [Member] | ||
Statement Line Items [Line Items] | ||
Loans to customers | $ 840,159 | $ 813,038 |
Minimum [Member] | ||
Statement Line Items [Line Items] | ||
Average life (in years) | 2 years | |
Maximum [Member] | ||
Statement Line Items [Line Items] | ||
Average life (in years) | 15 years |
Financial Assets at Fair Valu_3
Financial Assets at Fair Value Through Other Comprehensive Income (Details) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of financial assets [line items] | ||
Total | $ 1,366,343 | $ 1,053,191 |
Debt instruments at fair value through OCI | ||
Disclosure of financial assets [line items] | ||
Total | 1,357,846 | 1,043,440 |
Equity instruments valued at fair value through OCI | ||
Disclosure of financial assets [line items] | ||
Total | $ 8,497 | $ 9,751 |
Financial Assets at Fair Valu_4
Financial Assets at Fair Value through Other Comprehensive Income - Securities classified as available-for-sale (Details) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of financial assets [line items] | ||
Financial assets at fair value through other comprehensive income | $ 1,366,343 | $ 1,053,191 |
Debt Instruments Valued At Fair Value | ||
Disclosure of financial assets [line items] | ||
Financial assets at fair value through other comprehensive income | 1,357,846 | 1,043,440 |
Debt Instruments Valued At Fair Value | Bonds Issued By Chilean Government And Central Bank | Instruments Issued By Chilean Government And Central Bank [Member] | At Fair Value | ||
Disclosure of financial assets [line items] | ||
Financial assets at fair value through other comprehensive income | 76,358 | 135,145 |
Debt Instruments Valued At Fair Value | Promissory notes issued by the Chilean Government and Central Bank | Instruments Issued By Chilean Government And Central Bank [Member] | ||
Disclosure of financial assets [line items] | ||
Financial assets at fair value through other comprehensive income | 16,466 | |
Debt Instruments Valued At Fair Value | Other Instruments | Instruments Issued By Chilean Government And Central Bank [Member] | At Fair Value | ||
Disclosure of financial assets [line items] | ||
Financial assets at fair value through other comprehensive income | 16,238 | 29,077 |
Debt Instruments Valued At Fair Value | Other Instruments | Other Instruments Issued In Chile [Member] | At Fair Value | ||
Disclosure of financial assets [line items] | ||
Financial assets at fair value through other comprehensive income | 68,476 | 107,125 |
Debt Instruments Valued At Fair Value | Other Instruments | Instruments Issued By Foreign Institutions [Member] | At Fair Value | ||
Disclosure of financial assets [line items] | ||
Financial assets at fair value through other comprehensive income | 19,853 | 108,544 |
Debt Instruments Valued At Fair Value | Mortgage Bonds From Domestic Banks [Member] | Other Instruments Issued In Chile [Member] | At Fair Value | ||
Disclosure of financial assets [line items] | ||
Financial assets at fair value through other comprehensive income | 122,291 | 92,491 |
Debt Instruments Valued At Fair Value | Bonds from domestic banks | Other Instruments Issued In Chile [Member] | At Fair Value | ||
Disclosure of financial assets [line items] | ||
Financial assets at fair value through other comprehensive income | 15,927 | 5,351 |
Debt Instruments Valued At Fair Value | Deposits From Domestic Banks [Member] | Other Instruments Issued In Chile [Member] | At Fair Value | ||
Disclosure of financial assets [line items] | ||
Financial assets at fair value through other comprehensive income | 1,020,842 | 559,108 |
Debt Instruments Valued At Fair Value | Bonds From Other Chilean Companies [Member] | Other Instruments Issued In Chile [Member] | At Fair Value | ||
Disclosure of financial assets [line items] | ||
Financial assets at fair value through other comprehensive income | $ 1,395 | $ 6,599 |
Financial Assets at Fair Valu_5
Financial Assets at Fair Value through Other Comprehensive Income - Analysis of changes (Details) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | ||
Disclosure of financial assets [line items] | |||
Financial assets available-for-sale | $ 1,366,343 | $ 1,053,191 | |
Financial assets at fair value through other comprehensive income | 1,366,343 | 1,053,191 | |
Individual [Member] | |||
Disclosure of financial assets [line items] | |||
Financial assets at beginning of period | 1,012 | 772 | |
Transfer to Stage 1 | |||
Transfer to Stage 2 | |||
Transfer to Stage 3 | |||
Impact on year-end ECL of exposures transferred between stages during the year | [1] | 3 | |
Amounts written off | |||
Foreign exchange adjustments | (22) | (22) | |
Net change on financial assets | [2] | (880) | 259 |
Financial assets at end of period | 110 | 1,012 | |
Debt instruments valued at fair value | |||
Disclosure of financial assets [line items] | |||
Financial assets at beginning of period | 1,043,440 | ||
Financial assets at end of period | 1,357,846 | 1,043,440 | |
Financial assets available-for-sale | 1,357,846 | 1,043,440 | |
Financial assets at fair value through other comprehensive income | 1,357,846 | 1,043,440 | |
Debt instruments valued at fair value | Accumulated Amortization | |||
Disclosure of financial assets [line items] | |||
Financial assets at beginning of period | 4,268 | ||
Financial assets at end of period | 4,268 | ||
Debt instruments valued at fair value | Fair Value | |||
Disclosure of financial assets [line items] | |||
Financial assets at beginning of period | 1,043,440 | 1,516,063 | |
Change in fair value | 32,995 | 14,162 | |
Foreign exchange adjustments | 5,633 | 28,558 | |
Net change on financial assets | [3] | 275,778 | (515,343) |
Financial assets at end of period | 1,043,440 | ||
Debt instruments valued at fair value | Individual [Member] | |||
Disclosure of financial assets [line items] | |||
Financial assets at beginning of period | 4,268 | ||
Transfer to Stage 2 | (1) | ||
Impact of net re-measurement of year-end ECL | 3,102 | 258 | |
Foreign exchange adjustments | 40 | 168 | |
Net change on financial assets | [3] | 327 | (1,978) |
Financial assets at end of period | 7,736 | 4,268 | |
Debt instruments valued at fair value | Investment grade | |||
Disclosure of financial assets [line items] | |||
Financial assets available-for-sale | |||
Financial assets at fair value through other comprehensive income | 1,269,516 | 827,770 | |
Debt instruments valued at fair value | Without rating | |||
Disclosure of financial assets [line items] | |||
Financial assets available-for-sale | |||
Financial assets at fair value through other comprehensive income | 88,330 | 215,670 | |
Debt instruments valued at fair value | Financial instruments not credit-impaired | Individual [Member] | 12-month expected credit losses | |||
Disclosure of financial assets [line items] | |||
Financial assets at fair value through other comprehensive income | 1,357,846 | 1,043,440 | |
Debt instruments valued at fair value | Financial instruments not credit-impaired | Individual [Member] | 12-month expected credit losses | Accumulated Amortization | |||
Disclosure of financial assets [line items] | |||
Financial assets at beginning of period | 4,268 | 5,820 | |
Impact of net re-measurement of year-end ECL | 3,102 | 258 | |
Foreign exchange adjustments | 40 | 168 | |
Net change on financial assets | [3] | 326 | (1,978) |
Financial assets at end of period | 7,736 | 4,268 | |
Debt instruments valued at fair value | Financial instruments not credit-impaired | Individual [Member] | 12-month expected credit losses | Fair Value | |||
Disclosure of financial assets [line items] | |||
Change in fair value | 32,995 | 14,162 | |
Transfer to Stage 2 | (19) | ||
Foreign exchange adjustments | 5,633 | 28,558 | |
Net change on financial assets | [3] | 275,797 | (515,343) |
Debt instruments valued at fair value | Financial instruments not credit-impaired | Investment grade | Individual [Member] | 12-month expected credit losses | |||
Disclosure of financial assets [line items] | |||
Financial assets at fair value through other comprehensive income | 1,269,516 | 827,770 | |
Debt instruments valued at fair value | Financial instruments not credit-impaired | Without rating | Individual [Member] | 12-month expected credit losses | |||
Disclosure of financial assets [line items] | |||
Financial assets at fair value through other comprehensive income | 88,330 | 215,670 | |
Equity instruments valued at fair value | |||
Disclosure of financial assets [line items] | |||
Financial assets available-for-sale | 8,497 | 9,751 | |
Financial assets at fair value through other comprehensive income | 9,751 | ||
Equity instruments valued at fair value | Instruments issued by foreign institutions | |||
Disclosure of financial assets [line items] | |||
Financial assets at fair value through other comprehensive income | 1,051 | 812 | |
Equity instruments valued at fair value | Other instruments issued in Chile | |||
Disclosure of financial assets [line items] | |||
Financial assets at fair value through other comprehensive income | $ 8,497 | $ 9,751 | |
[1] | Represents the change in the year-end ECLs of exposures that were transferred from one stage to another during the year. | ||
[2] | Net change between assets originated and assets repaid, excluding write offs. | ||
[3] | Net change between assets purchased and assets derecognized, excluding write offs. |
Financial Assets at Fair Valu_6
Financial Assets at Fair Value through Other Comprehensive Income - Realized and unrealized profits (Details) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of financial assets [line items] | |||
Net of tax amount | $ 11,641 | $ (10,121) | |
Financial assets available-for-sale | |||
Disclosure of financial assets [line items] | |||
Net gain (loss) on financial assets before income tax | 15,969 | (13,878) | $ 4,775 |
Tax (expense) benefit | (4,328) | 3,757 | (1,299) |
Net of tax amount | 11,641 | (10,121) | 3,476 |
Realized gains reclassified to the income statement | $ 4,716 | $ 400 | $ 5,149 |
Financial Assets at Fair Valu_7
Financial Assets at Fair Value through Other Comprehensive Income (Details Textual) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of financial assets [line items] | |||
Assets | $ 1,366,343 | $ 1,053,191 | |
Assets instruments Available-for Sale | |||
Disclosure of financial assets [line items] | |||
Net unrealized gain recorded in other comprehensive income for available for sale securities | $ 9,521 | ||
Assets instruments Available-for Sale | Other Instruments Sold Under Repurchase Agreements | Instruments Issued By Chilean Government And Central Bank [Member] | |||
Disclosure of financial assets [line items] | |||
Assets | $ 5,177 | ||
Repurchase agreement expiration period | 3 days | ||
Debt Instruments Valued At Fair Value | |||
Disclosure of financial assets [line items] | |||
Assets | 1,357,846 | $ 1,043,440 | |
Net unrealized gain recorded in other comprehensive income for available for sale securities | 15,290 | 3,649 | |
Impairment of financial assets | 7,736 | 4,268 | |
Debt Instruments Valued At Fair Value | Fair Value | |||
Disclosure of financial assets [line items] | |||
Net unrealized gain recorded in other comprehensive income for available for sale securities | |||
Impairment of financial assets | |||
Debt Instruments Valued At Fair Value | Other Instruments Sold Under Repurchase Agreements | Instruments Issued By Chilean Government And Central Bank [Member] | |||
Disclosure of financial assets [line items] | |||
Assets | $ 6,965 | ||
Repurchase agreement expiration period | 0 days | 3 days | |
Financial Assets Availableforsale Category | |||
Disclosure of financial assets [line items] | |||
Realized gains reclassified to the income statement | $ 4,716 | $ 400 | $ 5,149 |
Investments in Other Companie_2
Investments in Other Companies (Details) - CLP ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |||
Disclosure of investments in associates and joint ventures [Line items] | |||||
Equity | $ 173,463 | $ 153,731 | |||
Assets | 48,442 | 42,252 | |||
Income | $ 6,039 | $ 6,811 | $ 5,511 | ||
Servipag Ltda. [Member] | |||||
Disclosure of investments in associates and joint ventures [Line items] | |||||
Ownership Interest, Joint Ventures | 50.00% | 50.00% | |||
Equity | $ 12,292 | $ 11,398 | |||
Assets | 6,271 | 5,699 | |||
Income | $ 572 | $ 701 | 700 | ||
Artikos Chile S.A. [Member] | |||||
Disclosure of investments in associates and joint ventures [Line items] | |||||
Ownership Interest, Joint Ventures | 50.00% | 50.00% | |||
Equity | $ 2,399 | $ 2,025 | |||
Assets | 1,387 | 1,188 | |||
Income | 624 | 583 | 507 | ||
Joint Venture [Member] | |||||
Disclosure of investments in associates and joint ventures [Line items] | |||||
Equity | 14,691 | 13,423 | |||
Assets | 7,658 | 6,887 | |||
Income | $ 1,196 | $ 1,284 | 1,207 | ||
Transbank S.A. [Member] | |||||
Disclosure of investments in associates and joint ventures [Line items] | |||||
Ownership Interest, Associates | 26.16% | 26.16% | |||
Equity | $ 82,667 | $ 69,358 | |||
Assets | 21,973 | 18,468 | |||
Income | $ 3,505 | $ 3,262 | 2,117 | ||
Sociedad Operadora de Tarjetas de Crdito Nexus S.A. [Member] | |||||
Disclosure of investments in associates and joint ventures [Line items] | |||||
Ownership Interest, Associates | [1] | 29.63% | 25.81% | ||
Equity | $ 17,675 | [1] | $ 16,805 | ||
Assets | 5,238 | 4,557 | |||
Income | [1] | $ 5 | $ 735 | ||
Administrador Financiero del Transantiago S.A. [Member] | |||||
Disclosure of investments in associates and joint ventures [Line items] | |||||
Ownership Interest, Associates | 20.00% | 20.00% | |||
Equity | $ 19,174 | $ 17,978 | |||
Assets | 3,985 | 3,680 | |||
Income | $ 390 | $ 582 | 317 | ||
Redbanc S.A. [Member] | |||||
Disclosure of investments in associates and joint ventures [Line items] | |||||
Ownership Interest, Associates | 38.13% | 38.13% | |||
Equity | $ 9,221 | $ 8,356 | |||
Assets | 3,549 | 3,219 | |||
Income | $ 330 | $ 325 | 403 | ||
Centro de Compensacion Automatizado S.A. [Member] | |||||
Disclosure of investments in associates and joint ventures [Line items] | |||||
Ownership Interest, Associates | 33.33% | 33.33% | |||
Equity | $ 6,464 | $ 5,592 | |||
Assets | 2,184 | 1,894 | |||
Income | $ 294 | $ 305 | 236 | ||
Servicios de Infraestructura de Mercado OTC S.A [Member] | |||||
Disclosure of investments in associates and joint ventures [Line items] | |||||
Ownership Interest, Associates | 12.33% | 12.33% | |||
Equity | $ 12,470 | $ 11,952 | |||
Assets | 1,538 | 1,474 | |||
Income | $ 59 | $ 56 | 66 | ||
Sociedad Interbancaria de Depositos de Valores S.A. [Member] | |||||
Disclosure of investments in associates and joint ventures [Line items] | |||||
Ownership Interest, Associates | 26.81% | 26.81% | |||
Equity | $ 4,811 | $ 4,161 | |||
Assets | 1,359 | 1,129 | |||
Income | $ 231 | $ 204 | 215 | ||
Soc. Operadora de la Camara de Compensacion de Pagos de Alto Valor S.A. [Member] | |||||
Disclosure of investments in associates and joint ventures [Line items] | |||||
Ownership Interest, Associates | 15.00% | 15.00% | |||
Equity | $ 6,290 | $ 6,106 | |||
Assets | 958 | 944 | |||
Income | 29 | 58 | 66 | ||
Associates [Member] | |||||
Disclosure of investments in associates and joint ventures [Line items] | |||||
Equity | 158,772 | 140,308 | |||
Assets | 40,784 | 35,365 | |||
Income | $ 4,843 | $ 5,527 | $ 4,304 | ||
[1] | During the year 2019, Banco de Chile increased its percentage of ownership interest through the purchase of 159,152 shares. |
Investments in Other Companie_3
Investments in Other Companies - Associates Statement of financial position (Details) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure of associates [line items] | |||
Total Assets | $ 41,013,874 | $ 35,601,430 | |
Total Liabilities | 37,108,113 | 31,927,714 | $ 29,016,089 |
Equity | 3,905,760 | 3,673,715 | |
Minority interest | 1 | 1 | |
Total Liabilities and Equity | 41,013,874 | 35,601,430 | |
Centro de Compensacion Automatizado S.A. [Member] | |||
Disclosure of associates [line items] | |||
Current assets | 5,087 | 3,088 | |
Non-current assets | 3,463 | 3,985 | |
Total Assets | 8,550 | 1,894 | |
Current liabilities | 1,947 | 1,321 | |
Non-current liabilities | 139 | 160 | |
Total Liabilities | 2,086 | 1,481 | |
Equity | 6,464 | 5,592 | |
Minority interest | |||
Total Liabilities and Equity | 8,550 | 7,073 | |
Sociedad Operadora de la Camara de Compensacion de Pagos de Alto Valor S.A. [Member] | |||
Disclosure of associates [line items] | |||
Current assets | 6,019 | 5,871 | |
Non-current assets | 1,353 | 857 | |
Total Assets | 7,372 | 944 | |
Current liabilities | 769 | 622 | |
Non-current liabilities | 313 | ||
Total Liabilities | 1,082 | 622 | |
Equity | 6,290 | 6,106 | |
Minority interest | |||
Total Liabilities and Equity | 7,372 | 6,728 | |
Sociedad Operadora de Tarjetas de Crdito Nexus S.A. [Member] | |||
Disclosure of associates [line items] | |||
Current assets | 9,586 | 12,918 | |
Non-current assets | 21,561 | 22,221 | |
Total Assets | 31,147 | 4,557 | |
Current liabilities | 7,951 | 14,179 | |
Non-current liabilities | 5,521 | 4,155 | |
Total Liabilities | 13,472 | 18,334 | |
Equity | 17,675 | 16,805 | |
Minority interest | |||
Total Liabilities and Equity | 31,147 | 35,139 | |
Sociedad Interbancaria de Depositos de Valores S.A. [Member] | |||
Disclosure of associates [line items] | |||
Current assets | 113 | 153 | |
Non-current assets | 4,961 | 4,239 | |
Total Assets | 5,074 | 1,129 | |
Current liabilities | 263 | 231 | |
Non-current liabilities | |||
Total Liabilities | 263 | 231 | |
Equity | 4,811 | 4,161 | |
Minority interest | |||
Total Liabilities and Equity | 5,074 | 4,392 | |
Redbanc S.A. [Member] | |||
Disclosure of associates [line items] | |||
Current assets | 7,047 | 6,084 | |
Non-current assets | 16,366 | 14,741 | |
Total Assets | 23,413 | 3,219 | |
Current liabilities | 7,688 | 9,907 | |
Non-current liabilities | 6,504 | 2,562 | |
Total Liabilities | 14,192 | 12,469 | |
Equity | 9,221 | 8,356 | |
Minority interest | |||
Total Liabilities and Equity | 23,413 | 20,825 | |
Transbank S.A. [Member] | |||
Disclosure of associates [line items] | |||
Current assets | 1,118,388 | 818,587 | |
Non-current assets | 99,060 | 85,971 | |
Total Assets | 1,217,448 | 18,468 | |
Current liabilities | 1,130,800 | 833,788 | |
Non-current liabilities | 3,981 | 1,412 | |
Total Liabilities | 1,134,781 | 835,200 | |
Equity | 82,667 | 69,358 | |
Minority interest | |||
Total Liabilities and Equity | 1,217,448 | 904,558 | |
Administrador Financiero del Transantiago S.A. [Member] | |||
Disclosure of associates [line items] | |||
Current assets | 54,120 | 55,406 | |
Non-current assets | 592 | 416 | |
Total Assets | 54,712 | 3,680 | |
Current liabilities | 34,234 | 36,676 | |
Non-current liabilities | 1,304 | 1,164 | |
Total Liabilities | 35,538 | 37,840 | |
Equity | 19,174 | 17,978 | |
Minority interest | |||
Total Liabilities and Equity | 54,712 | 55,818 | |
Servicios de Infraestructura de Mercado OTC S.A. [Member] | |||
Disclosure of associates [line items] | |||
Current assets | 21,585 | 18,842 | |
Non-current assets | 8,216 | 37,840 | |
Total Assets | 29,801 | 1,474 | |
Current liabilities | 16,789 | 10,111 | |
Non-current liabilities | 533 | 3,201 | |
Total Liabilities | 17,322 | 13,312 | |
Equity | 12,470 | 11,952 | |
Minority interest | 9 | 9 | |
Total Liabilities and Equity | 29,801 | 25,273 | |
Associates [Member] | |||
Disclosure of associates [line items] | |||
Current assets | 1,221,945 | 920,949 | |
Non-current assets | 155,572 | 138,857 | |
Total Assets | 1,377,517 | 35,365 | |
Current liabilities | 1,200,441 | 906,835 | |
Non-current liabilities | 18,295 | 12,654 | |
Total Liabilities | 1,218,736 | 919,489 | |
Equity | 158,772 | 140,308 | |
Minority interest | 9 | 9 | |
Total Liabilities and Equity | $ 1,377,517 | $ 1,059,806 |
Investments in Other Companie_4
Investments in Other Companies - Associates Revenue and profit (Details) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of associates [line items] | |||
Operating expenses | $ (902,250) | $ (839,708) | $ (784,356) |
Income (loss) before taxes | 777,406 | 763,402 | 687,442 |
Income taxes | 173,661 | 159,768 | 115,361 |
Income for the year | 603,745 | 603,634 | $ 572,081 |
Centro De Compensacion Automatizado S. A. [Member] | |||
Disclosure of associates [line items] | |||
Operating income | 3,384 | 3,214 | |
Operating expenses | (2,229) | (2,005) | |
Other income (expenses) | (13) | (25) | |
Income (loss) before taxes | 1,142 | 1,184 | |
Income taxes | (261) | (268) | |
Income for the year | 881 | 916 | |
Sociedad Operadora de la Camara de Compensacion de Pagos de Alto Valor S.A. [Member] | |||
Disclosure of associates [line items] | |||
Operating income | 3,386 | 3,302 | |
Operating expenses | (3,348) | (3,016) | |
Other income (expenses) | 159 | 177 | |
Income (loss) before taxes | 197 | 463 | |
Income taxes | (4) | (79) | |
Income for the year | 193 | 384 | |
Sociedad Operadora De Tarjetas De Credito Nexus S.A. [Member] | |||
Disclosure of associates [line items] | |||
Operating income | 49,944 | 50,319 | |
Operating expenses | (49,699) | (46,426) | |
Other income (expenses) | (304) | (173) | |
Income (loss) before taxes | (59) | 3,720 | |
Income taxes | 75 | (870) | |
Income for the year | 16 | 2,850 | |
Sociedad Interbancaria De Depositos De Valores S. A. [Member] | |||
Disclosure of associates [line items] | |||
Operating income | 15 | 1 | |
Operating expenses | (57) | (35) | |
Other income (expenses) | 903 | 796 | |
Income (loss) before taxes | 861 | 762 | |
Income taxes | |||
Income for the year | 861 | 762 | |
Redbanc S. A. [Member] | |||
Disclosure of associates [line items] | |||
Operating income | 38,024 | 35,314 | |
Operating expenses | (36,693) | (33,895) | |
Other income (expenses) | (195) | (260) | |
Income (loss) before taxes | 1,136 | 1,159 | |
Income taxes | (270) | (308) | |
Income for the year | 866 | 851 | |
Transbank S.A. [Member] | |||
Disclosure of associates [line items] | |||
Operating income | 222,912 | 191,568 | |
Operating expenses | (133,128) | (177,440) | |
Other income (expenses) | (72,143) | 2,380 | |
Income (loss) before taxes | 17,641 | 16,508 | |
Income taxes | (4,239) | (4,038) | |
Income for the year | 13,402 | 12,470 | |
Administrador Financiero Del Transantiago S. A. [Member] | |||
Disclosure of associates [line items] | |||
Operating income | 3,707 | 3,435 | |
Operating expenses | (2,224) | (2,615) | |
Other income (expenses) | 979 | 2,982 | |
Income (loss) before taxes | 2,462 | 3,802 | |
Income taxes | (514) | (894) | |
Income for the year | 1,948 | 2,908 | |
Servicios de Infraestructura de Mercado OTC S.A. [Member] | |||
Disclosure of associates [line items] | |||
Operating income | 6,291 | 6,254 | |
Operating expenses | (5,725) | (5,567) | |
Other income (expenses) | 179 | 59 | |
Income (loss) before taxes | 745 | 746 | |
Income taxes | (267) | (292) | |
Income for the year | 478 | 454 | |
Associates [Member] | |||
Disclosure of associates [line items] | |||
Operating income | 327,663 | 293,407 | |
Operating expenses | (233,103) | (270,999) | |
Other income (expenses) | (70,435) | 5,936 | |
Income (loss) before taxes | 24,125 | 28,344 | |
Income taxes | (5,480) | (6,749) | |
Income for the year | $ 18,645 | $ 21,595 |
Investments in Other Companie_5
Investments in Other Companies - Joint Ventures Statement of financial position (Details) $ in Millions | Dec. 31, 2019CLP ($)Segment | Dec. 31, 2018CLP ($) | Dec. 31, 2017CLP ($) | Dec. 31, 2016CLP ($) |
Disclosure of joint ventures [line items] | ||||
Number of jointly controlled entities | Segment | 2 | |||
Total Assets | $ 41,013,874 | $ 35,601,430 | ||
Total Liabilities | 37,108,113 | 31,927,714 | $ 29,016,089 | |
Equity | 3,905,761 | 3,673,716 | $ 3,545,347 | $ 3,307,674 |
Total Liabilities and Equity | 41,013,874 | 35,601,430 | ||
Artikos Chile S.A. | ||||
Disclosure of joint ventures [line items] | ||||
Current assets | 1,701 | 1,397 | ||
Non-current assets | 1,944 | 1,503 | ||
Total Assets | 3,645 | 1,188 | ||
Current liabilities | 1,083 | 875 | ||
Non-current liabilities | 163 | |||
Total Liabilities | 1,246 | 875 | ||
Equity | 2,399 | 2,025 | ||
Total Liabilities and Equity | 3,645 | 2,900 | ||
Servipag Ltda. | ||||
Disclosure of joint ventures [line items] | ||||
Current assets | 74,748 | 59,142 | ||
Non-current assets | 18,005 | 15,371 | ||
Total Assets | 92,753 | 5,699 | ||
Current liabilities | 74,745 | 57,847 | ||
Non-current liabilities | 5,716 | 5,268 | ||
Total Liabilities | 80,461 | 63,115 | ||
Equity | 12,292 | 11,398 | ||
Total Liabilities and Equity | $ 92,753 | $ 74,513 |
Investments in Other Companie_6
Investments in Other Companies - Joint Ventures Revenue and profit (Details) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of joint ventures [line items] | |||
Operating expenses | $ (902,250) | $ (839,708) | $ (784,356) |
Profit before tax | 777,406 | 763,402 | 687,442 |
Income tax | 173,661 | 159,768 | 115,361 |
Profit for the year | 603,745 | 603,634 | $ 572,081 |
Artikos Chile S.A. | |||
Disclosure of joint ventures [line items] | |||
Operating income | 3,643 | 3,544 | |
Operating expenses | (2,452) | (2,519) | |
Other income (expenses) | 11 | 12 | |
Profit before tax | 1,202 | 1,037 | |
Income tax | 46 | 130 | |
Profit for the year | 1,248 | 1,167 | |
Servipag Ltda. | |||
Disclosure of joint ventures [line items] | |||
Operating income | 43,259 | 42,679 | |
Operating expenses | (41,708) | (40,318) | |
Other income (expenses) | (315) | (339) | |
Profit before tax | 1,236 | 2,022 | |
Income tax | (343) | (621) | |
Profit for the year | $ 893 | $ 1,401 |
Investments in Other Companie_7
Investments in Other Companies - Unconsolidated structured entities (Details) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Reconciliation of investments in unconsolidated companies | |||
Balance at beginning of the period | $ 42,252 | $ 35,771 | $ 30,314 |
Capital increase | 671 | ||
Participation in net income | 6,039 | 6,811 | 5,511 |
Dividends received | (552) | (411) | (484) |
Other | 32 | 81 | 430 |
Balance at end of the period | 48,442 | 42,252 | 35,771 |
Impairment recognized | $ 0 | $ 0 | $ 0 |
Investments in Other Companie_8
Investments in Other Companies (Details Textual) - CLP ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Investments in Other Companies (Textual) | ||||
Investments in other companies | $ 48,442 | $ 42,252 | $ 35,771 | $ 30,314 |
Artikos Chile S. A. [Member] | ||||
Investments in Other Companies (Textual) | ||||
Ownership interest | 50.00% | 50.00% | ||
Servipag Ltda. [Member] | ||||
Investments in Other Companies (Textual) | ||||
Ownership interest | 50.00% | 50.00% |
Intangible Assets (Details)
Intangible Assets (Details) - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Gross balance | $ 236,474 | $ 217,931 |
Accumulated Amortization | (144,757) | (132,460) |
Net balance | $ 91,717 | $ 85,471 |
Goodwill | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Useful Life | 0 years | 0 years |
Average remaining amortization | 0 years | 0 years |
Gross balance | $ 16,714 | $ 16,714 |
Accumulated Amortization | ||
Net balance | $ 16,714 | $ 16,714 |
Intangible assets arising from business combinations | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Useful Life | 0 years | 0 years |
Average remaining amortization | 0 years | 0 years |
Gross balance | $ 56,249 | $ 56,249 |
Accumulated Amortization | (39,553) | (39,553) |
Net balance | $ 16,696 | $ 16,696 |
Software or computer programs | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Useful Life | 6 years | 6 years |
Average remaining amortization | 5 years | 5 years |
Gross balance | $ 163,511 | $ 144,968 |
Accumulated Amortization | (105,204) | (92,907) |
Net balance | $ 58,307 | $ 52,061 |
Intangible Assets - Gross Balan
Intangible Assets - Gross Balance (Details) - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Intangible assets and goodwill at beginning of period | $ 85,471 | |
Intangible assets and goodwill at end of period | 91,717 | $ 85,471 |
Goodwill generated in the business combination | 85,471 | |
Gross Balance | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Intangible assets and goodwill at beginning of period | 217,931 | 195,443 |
Acquisitions | 20,928 | 23,512 |
Disposals | (1,759) | (1,024) |
Reclassification | (276) | |
Impairment loss | (350) | |
Intangible assets and goodwill at end of period | 236,474 | 217,931 |
Gross Balance | Goodwill | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Intangible assets and goodwill at beginning of period | 16,714 | 16,714 |
Acquisitions | ||
Disposals | ||
Reclassification | ||
Impairment loss | ||
Intangible assets and goodwill at end of period | 16,714 | 16,714 |
Gross Balance | Intangible assets arising from business combinations | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Intangible assets and goodwill at beginning of period | 56,249 | 56,249 |
Acquisitions | ||
Disposals | ||
Reclassification | ||
Impairment loss | ||
Intangible assets and goodwill at end of period | 56,249 | 56,249 |
Goodwill generated in the business combination | 16,696 | 16,696 |
Gross Balance | Software or computer programs | ||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | ||
Intangible assets and goodwill at beginning of period | 144,968 | 122,480 |
Acquisitions | 20,928 | 23,512 |
Disposals | (1,759) | (1,024) |
Reclassification | (276) | |
Impairment loss | (350) | |
Intangible assets and goodwill at end of period | 163,511 | 144,968 |
Goodwill generated in the business combination | $ 58,307 | $ 52,061 |
Intangible Assets - Accumulated
Intangible Assets - Accumulated Amortization (Details) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Intangible assets and goodwill at beginning of period | $ 85,471 | ||
Amortization for the year | (12,875) | $ (10,496) | $ (11,360) |
Intangible assets and goodwill at end of period | 91,717 | 85,471 | |
Accumulated Amortization | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Intangible assets and goodwill at beginning of period | (132,460) | (122,988) | |
Amortization for the year | (12,875) | (10,496) | |
Disposals | 316 | 1,024 | |
Reclassification | 262 | ||
Intangible assets and goodwill at end of period | (144,757) | (132,460) | (122,988) |
Accumulated Amortization | Software or computer programs | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Intangible assets and goodwill at beginning of period | (92,907) | (83,435) | |
Amortization for the year | (12,875) | (10,496) | |
Disposals | 316 | 1,024 | |
Reclassification | 262 | ||
Intangible assets and goodwill at end of period | (105,204) | (92,907) | (83,435) |
Accumulated Amortization | Goodwill | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Intangible assets and goodwill at beginning of period | |||
Amortization for the year | |||
Disposals | |||
Reclassification | |||
Intangible assets and goodwill at end of period | |||
Accumulated Amortization | Intangible assets arising from business combinations | |||
Disclosure of reconciliation of changes in intangible assets and goodwill [line items] | |||
Intangible assets and goodwill at beginning of period | (39,553) | (39,553) | |
Amortization for the year | |||
Disposals | |||
Reclassification | |||
Intangible assets and goodwill at end of period | $ (39,553) | $ (39,553) | $ (39,553) |
Intangible Assets - Commitments
Intangible Assets - Commitments for technological developments (Details) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Software or computer programs | ||
Disclosure of detailed information about intangible assets [line items] | ||
Amount of Commitment | $ 7,151 | $ 11,806 |
Intangible Assets - Individual
Intangible Assets - Individual Business Segments (Details) $ in Millions | 12 Months Ended | |
Dec. 31, 2019CLP ($)Segment | Dec. 31, 2018CLP ($)Segment | |
Disclosure of detailed information about intangible assets [line items] | ||
Number of business segments | Segment | 4 | 4 |
Goodwill | $ 85,471 | |
Individual Business Segments | ||
Disclosure of detailed information about intangible assets [line items] | ||
Goodwill | $ 16,714 | 16,714 |
Individual Business Segments | Retail | ||
Disclosure of detailed information about intangible assets [line items] | ||
Goodwill | 5,928 | 5,928 |
Individual Business Segments | Wholesale | ||
Disclosure of detailed information about intangible assets [line items] | ||
Goodwill | 2,135 | 2,135 |
Individual Business Segments | Treasury and money market operations | ||
Disclosure of detailed information about intangible assets [line items] | ||
Goodwill | 4,513 | 4,513 |
Individual Business Segments | Subsidiaries | ||
Disclosure of detailed information about intangible assets [line items] | ||
Goodwill | $ 4,138 | $ 4,138 |
Intangible Assets (Details Text
Intangible Assets (Details Textual) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018CLP ($) | |
Intangible Assets (Textual) | ||
Goodwill | $ 85,471 | |
Earnings projections period for goodwill impairment testing | 10 years | |
Current loan expansion multiplier | 1.9 | |
Assumed market share percentage at year six and onwards | 17.80% | |
Long-run cash flows growth rate in baseline scenario | 4.50% | |
Discount rate (real terms) percentage computed by using CAPM | 9.00% | |
Discount rate was computed by using CAPM | 7.30% | |
Bank is able to reach discount rate maximum | 7.30% | |
Bank is able to reach discount rate minimum | 7.00% | |
Bank sensitivity analysed discounts rates one | 8.00% | |
Bank sensitivity analysed discounts rates two | 10.00% | |
Citibank Chile | Individual Business Segment | ||
Intangible Assets (Textual) | ||
Goodwill | $ 12,576 |
Property and Equipment and Le_3
Property and Equipment and Leased Assets and Lease Liabilities (Details) - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Property and Equipment | ||
Property and equipment, Gross balance | $ 564,743 | $ 557,305 |
Property and equipment, Accumulated Depreciation | (344,481) | (341,433) |
Property and equipment, Net balance | $ 220,262 | $ 215,872 |
Land and buildings [member] | ||
Property and Equipment | ||
Property and equipment, Useful Life | 26 years | 26 years |
Property and equipment, Average remaining depreciation | 21 years | 21 years |
Property and equipment, Gross balance | $ 301,619 | $ 320,585 |
Property and equipment, Accumulated Depreciation | (136,394) | (150,099) |
Property and equipment, Net balance | $ 165,225 | $ 170,486 |
Equipment | ||
Property and Equipment | ||
Property and equipment, Useful Life | 5 years | 5 years |
Property and equipment, Average remaining depreciation | 4 years | 3 years |
Property and equipment, Gross balance | $ 207,605 | $ 183,220 |
Property and equipment, Accumulated Depreciation | (162,560) | (148,455) |
Property and equipment, Net balance | $ 45,045 | $ 34,765 |
Other | ||
Property and Equipment | ||
Property and equipment, Useful Life | 7 years | 7 years |
Property and equipment, Average remaining depreciation | 4 years | 4 years |
Property and equipment, Gross balance | $ 55,519 | $ 53,500 |
Property and equipment, Accumulated Depreciation | (45,527) | (42,879) |
Property and equipment, Net balance | $ 9,992 | $ 10,621 |
Property and Equipment and Le_4
Property and Equipment and Leased assets and lease liabilities - Cost (Details) - CLP ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |||
Reconciliation of changes in Property and equipment | |||||
Beginning Balance | $ 215,872 | ||||
Impairment loss | (2,018) | $ (334) | $ (166) | ||
Ending Balance | 220,262 | 215,872 | |||
Gross Balance | |||||
Reconciliation of changes in Property and equipment | |||||
Beginning Balance | 557,305 | 548,349 | |||
Reclassification | (25,691) | ||||
Additions | 43,512 | 28,065 | |||
Disposals/write-downs/sales | (9,314) | (18,775) | |||
Impairment loss | [2] | (1,069) | [1] | (334) | |
Ending Balance | 564,743 | 557,305 | 548,349 | ||
Gross Balance | Land and Buildings | |||||
Reconciliation of changes in Property and equipment | |||||
Beginning Balance | 320,585 | 311,428 | |||
Reclassification | (25,654) | ||||
Additions | 12,555 | 12,589 | |||
Disposals/write-downs/sales | (5,437) | (3,145) | |||
Impairment loss | [2] | (430) | [1] | (287) | |
Ending Balance | 301,619 | 320,585 | 311,428 | ||
Gross Balance | Equipment | |||||
Reconciliation of changes in Property and equipment | |||||
Beginning Balance | 183,220 | 184,369 | |||
Reclassification | (37) | ||||
Additions | 28,118 | 12,702 | |||
Disposals/write-downs/sales | (3,115) | (13,845) | |||
Impairment loss | [2] | (581) | [1] | (6) | |
Ending Balance | 207,605 | 183,220 | 184,369 | ||
Gross Balance | Other | |||||
Reconciliation of changes in Property and equipment | |||||
Beginning Balance | 53,500 | 52,552 | |||
Reclassification | |||||
Additions | 2,839 | 2,774 | |||
Disposals/write-downs/sales | (762) | (1,785) | |||
Impairment loss | [2] | (58) | [1] | (41) | |
Ending Balance | $ 55,519 | $ 53,500 | $ 52,552 | ||
[1] | It does not include charge-off provisions for Property and Equipment for an amount of Ch$949 million. | ||||
[2] | See Note No. 36 about Depreciation, Amortization and Impairment |
Property and Equipment and Le_5
Property and Equipment and Leased assets and lease liabilities - Accumulated Depreciation (Details) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | ||
Reconciliation of changes in Property and equipment | |||
Depreciation charges of the year | $ (344,481) | $ (341,433) | |
Land and Buildings | |||
Reconciliation of changes in Property and equipment | |||
Depreciation charges of the year | (18,722) | ||
Equipment | |||
Reconciliation of changes in Property and equipment | |||
Depreciation charges of the year | (162,560) | (148,455) | |
Others | |||
Reconciliation of changes in Property and equipment | |||
Depreciation charges of the year | (45,527) | (42,879) | |
Accumulated depreciation | |||
Reconciliation of changes in Property and equipment | |||
Balance | (341,433) | (332,090) | |
Reclassification | 21,315 | ||
Depreciation charges of the year | [1],[2] | (28,835) | (26,817) |
Sales and disposals of the year | 4,472 | 17,474 | |
Transfers | |||
Accumulated Depreciation | (344,481) | (341,433) | |
Accumulated depreciation | Land and Buildings | |||
Reconciliation of changes in Property and equipment | |||
Balance | (150,099) | (142,768) | |
Reclassification | 21,278 | ||
Depreciation charges of the year | [1],[2] | (8,613) | (9,193) |
Sales and disposals of the year | 1,040 | 1,862 | |
Transfers | |||
Accumulated Depreciation | (136,394) | (150,099) | |
Accumulated depreciation | Equipment | |||
Reconciliation of changes in Property and equipment | |||
Balance | (148,455) | (148,006) | |
Reclassification | 37 | ||
Depreciation charges of the year | [1],[2] | (16,819) | (14,291) |
Sales and disposals of the year | 2,692 | 13,842 | |
Transfers | (15) | ||
Accumulated Depreciation | (162,560) | (148,455) | |
Accumulated depreciation | Others | |||
Reconciliation of changes in Property and equipment | |||
Balance | (42,879) | (41,316) | |
Reclassification | |||
Depreciation charges of the year | [1],[2] | (3,403) | (3,333) |
Sales and disposals of the year | 740 | 1,770 | |
Transfers | 15 | ||
Accumulated Depreciation | $ (45,527) | $ (42,879) | |
[1] | It does not include depreciation for the year for Investment Properties, which it registered under the item "Investment Properties" for an amount of Ch$359 million (Ch$368 million in 2018) | ||
[2] | See Note No. 36 about Depreciation, Amortization and Impairment |
Property and Equipment and Le_6
Property and Equipment and Leased assets and lease liabilities - Rights over leased assets (Details) - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Property and Equipment | ||
Gross Balance | $ 220,262 | $ 215,872 |
Property and equipment, Accumulated Depreciation | (344,481) | (341,433) |
Net Balance | 220,262 | $ 215,872 |
Buildings | ||
Property and Equipment | ||
Gross Balance | 130,853 | |
Property and equipment, Accumulated Depreciation | (18,722) | |
Net Balance | 112,131 | |
Floor space for ATMs | ||
Property and Equipment | ||
Gross Balance | 41,960 | |
Property and equipment, Accumulated Depreciation | (9,091) | |
Net Balance | 32,869 | |
Improvements to leased properties | ||
Property and Equipment | ||
Gross Balance | 27,254 | |
Property and equipment, Accumulated Depreciation | (21,589) | |
Net Balance | 5,665 | |
Total [Member] | ||
Property and Equipment | ||
Gross Balance | 200,067 | |
Property and equipment, Accumulated Depreciation | (49,402) | |
Net Balance | $ 150,665 |
Property and Equipment and Le_7
Property and Equipment and Leased assets and lease liabilities - Changes Of Rights over leased assets (Details) $ in Millions | 12 Months Ended | |
Dec. 31, 2019CLP ($) | ||
Gross Balance | ||
Property and Equipment | ||
Beginning Balance | $ 144,497 | |
Reclassification | 26,332 | |
Additions | 30,041 | |
Write-downs | (803) | |
Total | 200,067 | |
Beginning Balance | (21,546) | |
Reclassification | (28,472) | |
Depreciation of the year | 616 | [1] |
Write-downs | (49,402) | |
Total | ||
Net changes of the rights over leased assets | 150,665 | |
Buildings | ||
Property and Equipment | ||
Beginning Balance | 116,577 | |
Reclassification | ||
Additions | 14,276 | |
Write-downs | ||
Total | 130,853 | |
Beginning Balance | ||
Reclassification | (18,722) | |
Depreciation of the year | [1] | |
Write-downs | (18,722) | |
Total | ||
Net changes of the rights over leased assets | 112,131 | |
Floor Space ATMs | ||
Property and Equipment | ||
Beginning Balance | 27,920 | |
Reclassification | ||
Additions | 14,040 | |
Write-downs | ||
Total | 41,960 | |
Beginning Balance | ||
Reclassification | (9,091) | |
Depreciation of the year | [1] | |
Write-downs | (9,091) | |
Total | ||
Net changes of the rights over leased assets | 32,869 | |
Improvements to leased properties | ||
Property and Equipment | ||
Beginning Balance | ||
Reclassification | 26,332 | |
Additions | 1,725 | |
Write-downs | (803) | |
Total | 27,254 | |
Beginning Balance | (21,546) | |
Reclassification | (659) | |
Depreciation of the year | 616 | [1] |
Write-downs | (21,589) | |
Total | ||
Net changes of the rights over leased assets | $ 5,665 | |
[1] | See Note No.36 Depreciation, Amortization and Impairment. |
Property and Equipment and Le_8
Property and Equipment and Leased assets and lease liabilities - Future Maturities of the Lease Liabilities (Details) $ in Millions | Dec. 31, 2019CLP ($) |
Statement Line Items [Line Items] | |
Total | $ 154,784 |
Up to 1 month [Member] | |
Statement Line Items [Line Items] | |
Total | 2,535 |
Over 1 month and up to 3 months [Member] | |
Statement Line Items [Line Items] | |
Total | 5,137 |
Over 3 months and up to 12 months [Member] | |
Statement Line Items [Line Items] | |
Total | 22,417 |
Over 1 year and up to 3 years [Member] | |
Statement Line Items [Line Items] | |
Total | 55,188 |
Over 5 years [Member] | |
Statement Line Items [Line Items] | |
Total | 39,205 |
Over 3 years and up to 5 years | |
Statement Line Items [Line Items] | |
Total | 30,302 |
Buildings [Member] | |
Statement Line Items [Line Items] | |
Total | 121,019 |
Buildings [Member] | Up to 1 month [Member] | |
Statement Line Items [Line Items] | |
Total | 1,726 |
Buildings [Member] | Over 1 month and up to 3 months [Member] | |
Statement Line Items [Line Items] | |
Total | 3,519 |
Buildings [Member] | Over 3 months and up to 12 months [Member] | |
Statement Line Items [Line Items] | |
Total | 15,286 |
Buildings [Member] | Over 1 year and up to 3 years [Member] | |
Statement Line Items [Line Items] | |
Total | 37,063 |
Buildings [Member] | Over 3 years and up to 5 years [Member] | |
Statement Line Items [Line Items] | |
Total | 24,899 |
Buildings [Member] | Over 5 years [Member] | |
Statement Line Items [Line Items] | |
Total | 38,526 |
ATMs [Member] | |
Statement Line Items [Line Items] | |
Total | 33,765 |
ATMs [Member] | Up to 1 month [Member] | |
Statement Line Items [Line Items] | |
Total | 809 |
ATMs [Member] | Over 1 month and up to 3 months [Member] | |
Statement Line Items [Line Items] | |
Total | 1,618 |
ATMs [Member] | Over 3 months and up to 12 months [Member] | |
Statement Line Items [Line Items] | |
Total | 7,131 |
ATMs [Member] | Over 1 year and up to 3 years [Member] | |
Statement Line Items [Line Items] | |
Total | 18,125 |
ATMs [Member] | Over 3 years and up to 5 years [Member] | |
Statement Line Items [Line Items] | |
Total | 5,403 |
ATMs [Member] | Over 5 years [Member] | |
Statement Line Items [Line Items] | |
Total | $ 679 |
Property and Equipment and Le_9
Property and Equipment and Leased assets and lease liabilities - Changes of Obligations Under Capitalized Leases (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2019CLP ($) | |
Disclosure of detailed information about property, plant and equipment [abstract] | |
Beginning Balance | $ 144,497 |
Liabilities for new lease agreements | 24,431 |
Interest expenses | 2,574 |
Payments of capital and interests | (29,374) |
Others | 3,885 |
Ending balance | $ 146,013 |
Property and Equipment and L_10
Property and Equipment and Leased Assets and Lease Liabilities (Details Textual) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Property and Equipment (Textual) | |||
Depreciation charges of the year | $ (359) | $ (368) | $ (368) |
Sales and disposals of the year | $ 949 |
Investment Properties (Details)
Investment Properties (Details) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Reconciliation of changes in investment properties | |||
Net Balance as of January 1, | $ 13,938 | $ 14,306 | $ 14,674 |
Additions resulting from business combinations | |||
Reclassifications | |||
Disposals | |||
Depreciation charges in the period | 359 | 368 | 368 |
Impairment | |||
Net Balance as of December 31, | $ 13,190 | $ 13,938 | $ 14,306 |
Investment Properties (Details
Investment Properties (Details Textual) - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Reconciliation of changes in investment properties | ||
Income earned from renting out investment properties | $ 6,265 | |
Expenses incurred for investment properties | 2,794 | |
Fair value | ||
Reconciliation of changes in investment properties | ||
Fair value of the investment properties held | $ 46,613 | $ 46,562 |
Current Taxes and Deferred Ta_3
Current Taxes and Deferred Taxes - Current Taxes (Details) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of detailed information about investment property [abstract] | ||
Income taxes | $ 222,266 | $ 134,781 |
Monthly prepaid taxes (PPM) | (143,200) | (126,917) |
Credit for training expenses | (1,900) | (2,224) |
Other | (1,234) | (1,410) |
Total tax (receivable) payable, net | $ 75,932 | $ 4,230 |
Current Taxes and Deferred Ta_4
Current Taxes and Deferred Taxes - Total Tax Receivable (Details) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of detailed information about investment property [abstract] | ||
Current tax assets | $ 357 | $ 677 |
Current tax liabilities | (76,289) | (4,907) |
Total tax receivable (payable), net | $ (75,932) | $ (4,230) |
Current Taxes and Deferred Ta_5
Current Taxes and Deferred Taxes - Income Tax (Details) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Income tax expense: | |||
Current year taxes | $ 232,404 | $ 143,136 | $ 105,024 |
Tax from previous period | (331) | 2,574 | (1,401) |
Subtotal | 232,073 | 145,710 | 103,623 |
(Credit) charge for deferred taxes: | |||
Origin and reversal of temporary differences | (58,733) | 11,435 | 20,043 |
Effect of changes in tax rate | (5,729) | ||
Subtotal | (58,733) | 11,435 | 14,314 |
Other | 321 | 2,623 | (2,576) |
Net charge to income for income taxes | $ 173,661 | $ 159,768 | $ 115,361 |
Tax Rate | 27.00% | 27.00% | 25.50% |
Current Taxes and Deferred Ta_6
Current Taxes and Deferred Taxes - Reconciliation of effective tax rate (Details) - CLP ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
Tax rate % | ||||
Income tax calculated on net income before tax (as a percent) | 27.00% | 27.00% | 25.50% | |
Subordinated Debt Payment (as a percent) | [1] | (3.21%) | (5.67%) | |
Additions or deductions (as a percent) | [2] | (5.10%) | (4.18%) | (2.88%) |
Effect of changes in tax rate (as a percent) | (0.83%) | |||
Other (as a percent) | 0.43% | 1.32% | 0.67% | |
Effective rate and income tax expense (as a percent) | 22.34% | 20.93% | 16.79% | |
Credit to Income for tax rate change | ||||
Income tax calculated on net income before tax | $ 209,901 | $ 206,116 | $ 175,298 | |
Subordinated Debt Payment | [1] | (24,515) | (38,997) | |
Additions or deductions | [2] | (39,612) | (31,894) | (19,794) |
Effect of changes in tax rate | (5,729) | |||
Other | 3,372 | 10,061 | 4,583 | |
Effective rate and income tax expense | $ 173,661 | $ 159,768 | $ 115,361 | |
[1] | The tax expense related to the subordinated debt held by SAOS S.A, it ended during the current fiscal year, as a result of the generation of sufficient resources to pay off the total debt. | |||
[2] | The deductions of the tax rate for 2017, 2018 and 2019 mainly relate to permanent differences between tax and financial accounting rules. |
Current Taxes and Deferred Ta_7
Current Taxes and Deferred Taxes - Effect of deferred taxes on income and equity (Details) - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Effect of deferred taxes on income and equity | ||
Deferred tax liability (asset) at beginning of period | $ 176,823 | $ 184,465 |
Income effect | 58,733 | (11,435) |
Equity effect | (4,263) | 3,793 |
Deferred tax liability (asset) at end of period | 231,293 | 176,823 |
Total debit differences | ||
Effect of deferred taxes on income and equity | ||
Deferred tax liability (asset) at beginning of period | 220,364 | 227,051 |
Income effect | 60,174 | (8,088) |
Equity effect | (881) | 1,401 |
Deferred tax liability (asset) at end of period | 279,657 | 220,364 |
Allowances for loan losses | ||
Effect of deferred taxes on income and equity | ||
Deferred tax liability (asset) at beginning of period | 141,875 | 138,643 |
Income effect | 9,606 | 3,232 |
Equity effect | ||
Deferred tax liability (asset) at end of period | 151,481 | 141,875 |
Personnel provisions | ||
Effect of deferred taxes on income and equity | ||
Deferred tax liability (asset) at beginning of period | 13,277 | 12,521 |
Income effect | 3,720 | 756 |
Equity effect | ||
Deferred tax liability (asset) at end of period | 16,997 | 13,277 |
Staff vacations | ||
Effect of deferred taxes on income and equity | ||
Deferred tax liability (asset) at beginning of period | 7,241 | 6,908 |
Income effect | 203 | 333 |
Equity effect | ||
Deferred tax liability (asset) at end of period | 7,444 | 7,241 |
Accrued interest and indexation adjustments from past due loans | ||
Effect of deferred taxes on income and equity | ||
Deferred tax liability (asset) at beginning of period | 3,232 | 3,414 |
Income effect | 442 | (182) |
Equity effect | ||
Deferred tax liability (asset) at end of period | 3,674 | 3,232 |
Staff severance indemnities provision | ||
Effect of deferred taxes on income and equity | ||
Deferred tax liability (asset) at beginning of period | 1,484 | 1,457 |
Income effect | (59) | (8) |
Equity effect | 66 | 35 |
Deferred tax liability (asset) at end of period | 1,491 | 1,484 |
Provisions of credit card expenses | ||
Effect of deferred taxes on income and equity | ||
Deferred tax liability (asset) at beginning of period | 9,813 | 8,955 |
Income effect | (1,592) | 858 |
Equity effect | ||
Deferred tax liability (asset) at end of period | 8,221 | 9,813 |
Provisions of accrued expenses | ||
Effect of deferred taxes on income and equity | ||
Deferred tax liability (asset) at beginning of period | 6,908 | 16,358 |
Income effect | 3,656 | (9,450) |
Equity effect | ||
Deferred tax liability (asset) at end of period | 10,564 | 6,908 |
Derivative instruments adjustments | ||
Effect of deferred taxes on income and equity | ||
Deferred tax liability (asset) at beginning of period | 1,356 | |
Income effect | 114 | 1,356 |
Equity effect | ||
Deferred tax liability (asset) at end of period | 1,470 | 1,356 |
Adjustment for valuation and impairment of financial assets at fair value through OCI | ||
Effect of deferred taxes on income and equity | ||
Deferred tax liability (asset) at beginning of period | 946 | |
Income effect | (419) | |
Equity effect | (946) | 1,365 |
Deferred tax liability (asset) at end of period | 946 | |
Leasing | ||
Effect of deferred taxes on income and equity | ||
Deferred tax liability (asset) at beginning of period | 33,218 | 32,549 |
Income effect | 8,574 | 669 |
Equity effect | ||
Deferred tax liability (asset) at end of period | 41,792 | 33,218 |
Other adjustments | ||
Effect of deferred taxes on income and equity | ||
Deferred tax liability (asset) at beginning of period | 1,014 | 6,246 |
Income effect | 35,510 | (5,233) |
Equity effect | (1) | 1 |
Deferred tax liability (asset) at end of period | 36,523 | 1,014 |
Total credit differences | ||
Effect of deferred taxes on income and equity | ||
Deferred tax liability (asset) at beginning of period | 43,541 | 42,586 |
Income effect | 1,441 | 3,347 |
Equity effect | 3,382 | (2,392) |
Deferred tax liability (asset) at end of period | 48,364 | 43,541 |
Depreciation of property and equipment and investment properties | ||
Effect of deferred taxes on income and equity | ||
Deferred tax liability (asset) at beginning of period | 14,990 | 14,281 |
Income effect | 534 | 709 |
Equity effect | ||
Deferred tax liability (asset) at end of period | 15,524 | 14,990 |
Adjustment for valuation and impairment of financial assets at fair value through OCI | ||
Effect of deferred taxes on income and equity | ||
Deferred tax liability (asset) at beginning of period | 2,392 | |
Income effect | (937) | |
Equity effect | 3,382 | (2,392) |
Deferred tax liability (asset) at end of period | 2,445 | |
Transitory assets | ||
Effect of deferred taxes on income and equity | ||
Deferred tax liability (asset) at beginning of period | 5,514 | 5,486 |
Income effect | 2,815 | 28 |
Equity effect | ||
Deferred tax liability (asset) at end of period | 8,329 | 5,514 |
Derivative instruments adjustments | ||
Effect of deferred taxes on income and equity | ||
Deferred tax liability (asset) at beginning of period | 4,378 | |
Income effect | (4,378) | |
Equity effect | ||
Deferred tax liability (asset) at end of period | ||
Accrued interest to effective rate | ||
Effect of deferred taxes on income and equity | ||
Deferred tax liability (asset) at beginning of period | 1,564 | 1,603 |
Income effect | (183) | (39) |
Equity effect | ||
Deferred tax liability (asset) at end of period | 1,381 | 1,564 |
Advance payment of lump-sum under union contracts | ||
Effect of deferred taxes on income and equity | ||
Deferred tax liability (asset) at beginning of period | 6,699 | |
Income effect | (3,365) | 6,699 |
Equity effect | ||
Deferred tax liability (asset) at end of period | 3,334 | 6,699 |
Intangible assets amortization | ||
Effect of deferred taxes on income and equity | ||
Deferred tax liability (asset) at beginning of period | 5,503 | 5,503 |
Income effect | ||
Equity effect | ||
Deferred tax liability (asset) at end of period | 5,503 | 5,503 |
Other adjustments | ||
Effect of deferred taxes on income and equity | ||
Deferred tax liability (asset) at beginning of period | 9,271 | 8,943 |
Income effect | 2,577 | 328 |
Equity effect | ||
Deferred tax liability (asset) at end of period | $ 11,848 | $ 9,271 |
Other Assets (Details)
Other Assets (Details) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | |
Miscellaneous assets [abstract] | |||
Assets held for leasing | [1] | $ 139,389 | $ 101,848 |
Assets received or awarded as payment: | |||
Assets awarded at judicial sale | [2] | 10,967 | 14,171 |
Assets received in lieu of payment | [2] | 7,770 | 10,700 |
Provisions for assets received in lieu of payment | [2] | (1,349) | (1,915) |
Subtotal | 17,388 | 22,956 | |
Other Assets | |||
Deposit by derivatives margin | 475,852 | 336,548 | |
Other accounts and notes receivable | 44,671 | 29,080 | |
Documents intermediated | [3] | 40,911 | 28,478 |
Prepaid expenses | 34,934 | 37,394 | |
Recoverable income taxes | 33,136 | 44,665 | |
Commissions receivable | 14,191 | 12,155 | |
Other | 42,528 | 38,567 | |
Subtotal | 686,223 | 526,887 | |
Total | $ 843,000 | $ 651,691 | |
[1] | These correspond to property and equipment to be given under a financial lease. | ||
[2] | Assets received in lieu of payment are valued at fair value, which is calculated considering the lesser between appraised value and value of award, less cost of sell. | ||
[3] | Documents intermediated refers to securities lending agreements managed by the Bank's subsidiary Banchile Corredores de Bolsa S.A. |
Current Accounts and Other De_3
Current Accounts and Other Demand Deposits (Details) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Current Accounts and Other Demand Deposits [abstract] | ||
Current accounts | $ 8,951,527 | $ 7,725,465 |
Other demand deposits | 1,662,950 | 1,143,414 |
Other deposits and accounts | 711,656 | 715,609 |
Total | $ 11,326,133 | $ 9,584,488 |
Saving Accounts and Time Depo_3
Saving Accounts and Time Deposits (Details) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Deposits from customers [abstract] | ||
Time deposits | $ 10,537,614 | $ 10,343,922 |
Term savings accounts | 239,850 | 224,303 |
Other term balances payable | 79,154 | 87,949 |
Total | $ 10,856,618 | $ 10,656,174 |
Borrowings from Financial Ins_3
Borrowings from Financial Institutions (Details) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of detailed information about borrowings [abstract] | ||
Domestic banks - Banco do brasil | $ 3,900 | $ 7,001 |
Domestic banks - Banco santander | 2,314 | |
Domestic banks - Banco security | 374 | |
Total borrowings from domestic banks | 6,214 | 7,375 |
Foreign banks - trade financing - Citibank N.A. | 285,974 | 212,329 |
Foreign banks - trade financing - Bank of New York Mellon | 224,812 | 152,828 |
Foreign banks - trade financing - Sumitomo Mitsui Banking | 213,534 | 196,571 |
Foreign banks - trade financing - Bank of America | 194,704 | 210,279 |
Foreign banks - trade financing - Bank of Wells Fargo Bank | 139,845 | 225,087 |
Foreign banks - trade financing - The Bank of Nova Scotia | 133,539 | 122,080 |
Foreign banks - trade financing - Zürcher Kantonalbank | 78,872 | 55,621 |
Foreign banks - trade financing - Standard Chartered Bank | 70,128 | 296 |
Foreign banks - trade financing - JP Morgan Chase Bank | 60,150 | 62,557 |
Foreign banks - trade financing - Toronto Dominion Bank | 22,556 | 84,056 |
Foreign banks - trade financing - ING Bank | 10,987 | |
Foreign banks - trade financing - Commerzbank AG | 2,201 | 1,084 |
Foreign banks - trade financing - Mizuho Bank Ltd. | 63,651 | |
Foreign banks - trade financing - Others | 89 | 24 |
Foreign banks - borrowings and other obligations - Wells Fargo Bank | 113,377 | 104,637 |
Foreign banks - borrowings and other obligations - Citibank N.A. | 6,198 | 15,940 |
Foreign banks - borrowings and other obligations - ING Bank NV | 88 | |
Foreign banks - borrowings and other obligations - Deutsche Bank AG | 161 | |
Foreign banks - borrowings and other obligations - Standard Chartered Bank | 1,612 | |
Foreign banks - borrowings and other obligations - Bank of America | 486 | |
Foreign banks - borrowings and other obligations - Others | 9 | 85 |
Total borrowings from foreign banks | 1,557,063 | 1,509,384 |
Chilean Central Bank | ||
Total Borrowings from Financial Institutions | $ 1,563,277 | $ 1,516,759 |
Debt Issued (Details)
Debt Issued (Details) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Statement Line Items [Line Items] | ||
Debt issued | $ 8,813,414 | $ 7,475,552 |
Mortgage bonds [Member] | ||
Statement Line Items [Line Items] | ||
Debt issued | 10,898 | 16,368 |
Bonds [Member] | ||
Statement Line Items [Line Items] | ||
Debt issued | 7,912,621 | 6,772,990 |
Subordinated bonds [Member] | ||
Statement Line Items [Line Items] | ||
Debt issued | $ 889,895 | $ 686,194 |
Debt Issued - Short-term Bonds
Debt Issued - Short-term Bonds December 31, 2019 (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2019CLP ($) | |
Citibank N.A. [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 40,937 |
Annual interest rate | 2.91% |
Issue date | Jan. 4, 2019 |
Maturity date | Apr. 4, 2019 |
Wells Fargo Bank [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 40,264 |
Annual interest rate | 2.85% |
Issue date | Jan. 17, 2019 |
Maturity date | Apr. 24, 2019 |
Citibank N.A. [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 33,598 |
Annual interest rate | 2.80% |
Issue date | Jan. 22, 2019 |
Maturity date | Apr. 22, 2019 |
Citibank N.A. [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 53,250 |
Annual interest rate | 2.67% |
Issue date | Apr. 4, 2019 |
Maturity date | Jul. 2, 2019 |
Citibank N.A. [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 27,886 |
Annual interest rate | 2.67% |
Issue date | Apr. 9, 2019 |
Maturity date | Aug. 9, 2019 |
Citibank N.A. [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 33,257 |
Annual interest rate | 2.66% |
Issue date | Apr. 11, 2019 |
Maturity date | Jul. 11, 2019 |
Wells Fargo Bank [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 33,257 |
Annual interest rate | 2.68% |
Issue date | Apr. 11, 2019 |
Maturity date | Oct. 11, 2019 |
Citibank N.A. [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 33,051 |
Annual interest rate | 2.66% |
Issue date | Apr. 12, 2019 |
Maturity date | Jul. 22, 2019 |
Wells Fargo Bank [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 3,966 |
Annual interest rate | 2.67% |
Issue date | Apr. 12, 2019 |
Maturity date | Sep. 12, 2019 |
Citibank N.A. [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 27,184 |
Annual interest rate | 2.67% |
Issue date | Apr. 29, 2019 |
Maturity date | Oct. 29, 2019 |
Wells Fargo Bank [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 33,838 |
Annual interest rate | 2.60% |
Issue date | Apr. 30, 2019 |
Maturity date | Jul. 30, 2019 |
Citibank N.A. [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 34,795 |
Annual interest rate | 2.61% |
Issue date | May 17, 2019 |
Maturity date | Nov. 18, 2019 |
Citibank N.A. [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 34,842 |
Annual interest rate | 2.59% |
Issue date | May 23, 2019 |
Maturity date | Aug. 22, 2019 |
Bank of America [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 34,208 |
Annual interest rate | 2.50% |
Issue date | Jun. 21, 2019 |
Maturity date | Aug. 22, 2019 |
Wells Fargo Bank [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 3,421 |
Annual interest rate | 2.50% |
Issue date | Jun. 24, 2019 |
Maturity date | Jul. 25, 2019 |
Citibank N.A. [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 547 |
Annual interest rate | 2.40% |
Issue date | Jun. 24, 2019 |
Maturity date | Oct. 15, 2019 |
Citibank N.A. [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 13,620 |
Annual interest rate | 2.50% |
Issue date | Jun. 25, 2019 |
Maturity date | Aug. 5, 2019 |
Citibank N.A. [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 13,575 |
Annual interest rate | 2.51% |
Issue date | Jun. 28, 2019 |
Maturity date | Aug. 1, 2019 |
Citibank N.A. [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 34,070 |
Annual interest rate | 2.38% |
Issue date | Jul. 11, 2019 |
Maturity date | Oct. 9, 2019 |
Citibank N.A. [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 29,883 |
Annual interest rate | 2.25% |
Issue date | Aug. 9, 2019 |
Maturity date | Nov. 12, 2019 |
Wells Fargo Bank [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 3,525 |
Annual interest rate | 2.03% |
Issue date | Aug. 13, 2019 |
Maturity date | May 8, 2020 |
Citibank N.A. [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 35,676 |
Annual interest rate | 2.20% |
Issue date | Aug. 22, 2019 |
Maturity date | Nov. 21, 2019 |
Wells Fargo Bank [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 21,350 |
Annual interest rate | 2.20% |
Issue date | Sep. 10, 2019 |
Maturity date | Dec. 9, 2019 |
Wells Fargo Bank [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 7,117 |
Annual interest rate | 2.20% |
Issue date | Sep. 11, 2019 |
Maturity date | Dec. 16, 2019 |
Wells Fargo Bank [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 28,466 |
Annual interest rate | 2.20% |
Issue date | Sep. 11, 2019 |
Maturity date | Dec. 10, 2019 |
Citibank N.A. [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 15,799 |
Annual interest rate | 2.10% |
Issue date | Oct. 7, 2019 |
Maturity date | Jan. 7, 2020 |
Citibank N.A. [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 36,206 |
Annual interest rate | 2.07% |
Issue date | Oct. 9, 2019 |
Maturity date | Jan. 9, 2020 |
Citibank N.A. [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 36,212 |
Annual interest rate | 2.00% |
Issue date | Oct. 24, 2019 |
Maturity date | Jan. 29, 2020 |
Bank of America [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 36,212 |
Annual interest rate | 2.00% |
Issue date | Oct. 24, 2019 |
Maturity date | Jan. 24, 2020 |
Citibank N.A. [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 18,200 |
Annual interest rate | 2.00% |
Issue date | Oct. 25, 2019 |
Maturity date | Feb. 3, 2020 |
Citibank N.A. [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 31,819 |
Annual interest rate | 1.91% |
Issue date | Nov. 4, 2019 |
Maturity date | Jan. 13, 2020 |
Citibank N.A. [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 31,239 |
Annual interest rate | 1.97% |
Issue date | Nov. 12, 2019 |
Maturity date | Feb. 12, 2020 |
Citibank N.A. [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 4,554 |
Annual interest rate | 2.05% |
Issue date | Nov. 22, 2019 |
Maturity date | Aug. 7, 2020 |
Citibank N.A. [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 7,989 |
Annual interest rate | 2.05% |
Issue date | Nov. 22, 2019 |
Maturity date | Aug. 7, 2020 |
Citibank N.A. [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 18,750 |
Annual interest rate | 2.07% |
Issue date | Dec. 4, 2019 |
Maturity date | Aug. 7, 2020 |
Citibank N.A. [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 23,268 |
Annual interest rate | 2.05% |
Issue date | Dec. 9, 2019 |
Maturity date | Apr. 9, 2020 |
Wells Fargo Bank [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 3,877 |
Annual interest rate | 2.04% |
Issue date | Dec. 9, 2019 |
Maturity date | Jun. 5, 2020 |
Wells Fargo Bank [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 15,395 |
Annual interest rate | 2.04% |
Issue date | Dec. 11, 2019 |
Maturity date | Mar. 27, 2020 |
Citibank N.A. [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 1,792 |
Annual interest rate | 2.03% |
Issue date | Dec. 30, 2019 |
Maturity date | Jul. 20, 2020 |
Wells Fargo Bank [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 7,518 |
Annual interest rate | 2.10% |
Issue date | Dec. 30, 2019 |
Maturity date | Dec. 15, 2020 |
Short-term Bonds [Member] | |
Statement Line Items [Line Items] | |
Amount | $ 944,413 |
Debt Issued - Current Bonds Lon
Debt Issued - Current Bonds Long-Term December 31, 2019 (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2019CLP ($) | |
BCHIEC0817 [Member] | |
Statement Line Items [Line Items] | |
Currency | UF |
Amount | $ 83,470 |
Terms Years | 5 years |
Annual issue rate | 1.55% |
Issue date | Jan. 30, 2019 |
Maturity date | Jan. 30, 2024 |
BCHIED1117 [Member] | |
Statement Line Items [Line Items] | |
Currency | UF |
Amount | $ 41,711 |
Terms Years | 5 years |
Annual issue rate | 1.54% |
Issue date | Mar. 14, 2019 |
Maturity date | Mar. 14, 2024 |
BCHIED1117 [Member] | |
Statement Line Items [Line Items] | |
Currency | UF |
Amount | $ 5,587 |
Terms Years | 5 years |
Annual issue rate | 1.45% |
Issue date | Mar. 19, 2019 |
Maturity date | Mar. 19, 2024 |
BCHIED1117 [Member] | |
Statement Line Items [Line Items] | |
Currency | UF |
Amount | $ 36,317 |
Terms Years | 5 years |
Annual issue rate | 1.45% |
Issue date | Mar. 20, 2019 |
Maturity date | Mar. 20, 2024 |
BCHIDW1017 [Member] | |
Statement Line Items [Line Items] | |
Currency | UF |
Amount | $ 84,359 |
Terms Years | 2 years |
Annual issue rate | 0.93% |
Issue date | May 9, 2021 |
Maturity date | May 9, 2021 |
BCHIDW1017 [Member] | |
Statement Line Items [Line Items] | |
Currency | UF |
Amount | $ 57,091 |
Terms Years | 2 years |
Annual issue rate | 0.57% |
Issue date | Jun. 24, 2019 |
Maturity date | Jun. 24, 2021 |
BCHIEH0917 [Member] | |
Statement Line Items [Line Items] | |
Currency | UF |
Amount | $ 58,867 |
Terms Years | 7 years |
Annual issue rate | 1.04% |
Issue date | Jan. 7, 2019 |
Maturity date | Jul. 1, 2026 |
BCHIEB1117 [Member] | |
Statement Line Items [Line Items] | |
Currency | UF |
Amount | $ 86,682 |
Terms Years | 4 years |
Annual issue rate | 0.83% |
Issue date | Jan. 7, 2019 |
Maturity date | Jul. 1, 2026 |
BCHIEH0917 [Member] | |
Statement Line Items [Line Items] | |
Currency | UF |
Amount | $ 29,514 |
Terms Years | 7 years |
Annual issue rate | 1.00% |
Issue date | Feb. 7, 2019 |
Maturity date | Jul. 2, 2026 |
BCHIEI1117 [Member] | |
Statement Line Items [Line Items] | |
Currency | UF |
Amount | $ 60,697 |
Terms Years | 7 years |
Annual issue rate | 0.66% |
Issue date | Jul. 19, 2019 |
Maturity date | Jul. 19, 2026 |
BCHIEI1117 [Member] | |
Statement Line Items [Line Items] | |
Currency | UF |
Amount | $ 22,063 |
Terms Years | 7 years |
Annual issue rate | 0.51% |
Issue date | Jul. 30, 2019 |
Maturity date | Jul. 30, 2026 |
BCHIEI1117 [Member] | |
Statement Line Items [Line Items] | |
Currency | UF |
Amount | $ 8,613 |
Terms Years | 7 years |
Annual issue rate | 0.45% |
Issue date | Aug. 1, 2026 |
Maturity date | Aug. 1, 2026 |
BCHICC0815 [Member] | |
Statement Line Items [Line Items] | |
Currency | UF |
Amount | $ 71,703 |
Terms Years | 12 years |
Annual issue rate | 0.54% |
Issue date | May 8, 2019 |
Maturity date | Aug. 5, 2031 |
BCHICA1015 [Member] | |
Statement Line Items [Line Items] | |
Currency | UF |
Amount | $ 71,221 |
Terms Years | 11 years |
Annual issue rate | 0.54% |
Issue date | May 8, 2019 |
Maturity date | May 8, 2030 |
BCHICB1215 [Member] | |
Statement Line Items [Line Items] | |
Currency | UF |
Amount | $ 14,496 |
Terms Years | 11 years |
Annual issue rate | 0.44% |
Issue date | Jul. 8, 2019 |
Maturity date | Aug. 7, 2030 |
BCHIEI1117 [Member] | |
Statement Line Items [Line Items] | |
Currency | UF |
Amount | $ 7,764 |
Terms Years | 7 years |
Annual issue rate | 0.30% |
Issue date | Jul. 8, 2019 |
Maturity date | Jul. 8, 2026 |
BCHIEI1117 [Member] | |
Statement Line Items [Line Items] | |
Currency | UF |
Amount | $ 20,212 |
Terms Years | 7 years |
Annual issue rate | 0.28% |
Issue date | Aug. 8, 2019 |
Maturity date | Aug. 8, 2026 |
BCHICB1215 [Member] | |
Statement Line Items [Line Items] | |
Currency | UF |
Amount | $ 57,926 |
Terms Years | 11 years |
Annual issue rate | 0.45% |
Issue date | Aug. 8, 2019 |
Maturity date | Aug. 8, 2030 |
BCHIEI1117 [Member] | |
Statement Line Items [Line Items] | |
Currency | UF |
Amount | $ 3,108 |
Terms Years | 7 years |
Annual issue rate | 0.29% |
Issue date | Aug. 8, 2019 |
Maturity date | Aug. 8, 2026 |
BCHIBV1015 [Member] | |
Statement Line Items [Line Items] | |
Currency | UF |
Amount | $ 71,063 |
Terms Years | 10 years |
Annual issue rate | 0.37% |
Issue date | Aug. 20, 2019 |
Maturity date | Aug. 20, 2029 |
BCHIEV1117 [Member] | |
Statement Line Items [Line Items] | |
Currency | UF |
Amount | $ 132,366 |
Terms Years | 10 years |
Annual issue rate | 0.34% |
Issue date | May 9, 2019 |
Maturity date | May 9, 2029 |
BCHIEK1117 [Member] | |
Statement Line Items [Line Items] | |
Currency | UF |
Amount | $ 117,493 |
Terms Years | 13 years |
Annual issue rate | 1.38% |
Issue date | Nov. 12, 2019 |
Maturity date | Nov. 12, 2032 |
Subtotal UF [Member] | |
Statement Line Items [Line Items] | |
Amount | $ 1,142,323 |
BONO JPY [Member] | |
Statement Line Items [Line Items] | |
Currency | JPY |
Amount | $ 63,041 |
Terms Years | 20 years |
Annual issue rate | 1.00% |
Issue date | May 14, 2019 |
Maturity date | May 14, 2039 |
BONO HKD [Member] | |
Statement Line Items [Line Items] | |
Currency | HKD |
Amount | $ 32,725 |
Terms Years | 12 years |
Annual issue rate | 2.90% |
Issue date | Jul. 19, 2019 |
Maturity date | Jul. 19, 2031 |
BONO AUD [Member] | |
Statement Line Items [Line Items] | |
Currency | AUD |
Amount | $ 36,519 |
Terms Years | 20 years |
Annual issue rate | 3.50% |
Issue date | Aug. 28, 2019 |
Maturity date | Aug. 28, 2039 |
BONO PEN [Member] | |
Statement Line Items [Line Items] | |
Currency | PEN |
Amount | $ 29,969 |
Terms Years | 15 years |
Annual issue rate | 5.40% |
Issue date | Apr. 9, 2019 |
Maturity date | Apr. 9, 2034 |
BONO AUD [Member] | |
Statement Line Items [Line Items] | |
Currency | AUD |
Amount | $ 24,547 |
Terms Years | 15 years |
Annual issue rate | 3.13% |
Issue date | Sep. 9, 2019 |
Maturity date | Sep. 9, 2034 |
BONO NOK [Member] | |
Statement Line Items [Line Items] | |
Currency | NOK |
Amount | $ 60,951 |
Terms Years | 10 years |
Annual issue rate | 3.50% |
Issue date | Jul. 11, 2019 |
Maturity date | Jul. 11, 2029 |
BONO AUD [Member] | |
Statement Line Items [Line Items] | |
Currency | AUD |
Amount | $ 39,067 |
Terms Years | 20 years |
Annual issue rate | 3.55% |
Issue date | Nov. 11, 2019 |
Maturity date | Nov. 11, 2039 |
BONO JPY [Member] | |
Statement Line Items [Line Items] | |
Currency | JPY |
Amount | $ 36,264 |
Terms Years | 10 years |
Annual issue rate | 1.00% |
Issue date | Nov. 19, 2019 |
Maturity date | Nov. 19, 2029 |
Subtotal Others currency [Member] | |
Statement Line Items [Line Items] | |
Amount | $ 323,083 |
Total currency [Member] | |
Statement Line Items [Line Items] | |
Amount | $ 1,465,406 |
Debt Issued - Subordinated bond
Debt Issued - Subordinated bonds December 31, 2019 (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2019CLP ($) | |
UCHI-J1111 [Member] | |
Statement Line Items [Line Items] | |
Currency | UF |
Amount | $ 61,471 |
Terms Years | 23 years |
Annual issue rate | 1.05% |
Issue date | Aug. 20, 2019 |
Maturity date | Aug. 20, 2042 |
UCHI-J1111 [Member] | |
Statement Line Items [Line Items] | |
Currency | UF |
Amount | $ 65,973 |
Terms Years | 23 years |
Annual issue rate | 1.04% |
Issue date | Aug. 20, 2019 |
Maturity date | Aug. 20, 2042 |
UCHI-J1111 [Member] | |
Statement Line Items [Line Items] | |
Currency | UF |
Amount | $ 48,799 |
Terms Years | 23 years |
Annual issue rate | 0.99% |
Issue date | Aug. 21, 2019 |
Maturity date | Aug. 21, 2042 |
UCHI-I1111 [Member] | |
Statement Line Items [Line Items] | |
Currency | UF |
Amount | $ 39,114 |
Terms Years | 21 years |
Annual issue rate | 0.96% |
Issue date | Sep. 24, 2019 |
Maturity date | Sep. 24, 2040 |
Total | |
Statement Line Items [Line Items] | |
Amount | $ 215,357 |
Debt Issued - Short-term Bond_2
Debt Issued - Short-term Bonds December 31, 2018 (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2018CLP ($) | |
Wells Fargo Bank [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 2,998 |
Annual issue rate | 1.85% |
Issue date | Feb. 6, 2018 |
Maturity date | May 8, 2018 |
Wells Fargo Bank [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 2,998 |
Annual issue rate | 1.93% |
Issue date | Feb. 6, 2018 |
Maturity date | Jun. 8, 2018 |
Wells Fargo Bank [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 2,998 |
Annual issue rate | 1.98% |
Issue date | Feb. 6, 2018 |
Maturity date | Jul. 9, 2018 |
Wells Fargo Bank [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 2,998 |
Annual issue rate | 2.05% |
Issue date | Feb. 6, 2018 |
Maturity date | Aug. 6, 2018 |
Wells Fargo Bank [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 2,998 |
Annual issue rate | 2.05% |
Issue date | Feb. 6, 2018 |
Maturity date | Aug. 8, 2018 |
Wells Fargo Bank [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 29,716 |
Annual issue rate | 2.25% |
Issue date | Feb. 28, 2018 |
Maturity date | Jun. 28, 2018 |
Wells Fargo Bank [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 1,723 |
Annual issue rate | 2.40% |
Issue date | Feb. 28, 2018 |
Maturity date | Aug. 29, 2018 |
Citibank N.A. [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 6,894 |
Annual issue rate | 2.60% |
Issue date | Feb. 28, 2018 |
Maturity date | Feb. 25, 2019 |
Wells Fargo Bank [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 13,780 |
Annual issue rate | 2.30% |
Issue date | Mar. 2, 2018 |
Maturity date | Jul. 2, 2018 |
Wells Fargo Bank [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 4,489 |
Annual issue rate | 2.30% |
Issue date | Mar. 5, 2018 |
Maturity date | Jul. 6, 2018 |
Citibank N.A. [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 18,080 |
Annual issue rate | 2.22% |
Issue date | Mar. 7, 2018 |
Maturity date | Jun. 5, 2018 |
Wells Fargo Bank [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 1,747 |
Annual issue rate | 2.25% |
Issue date | Mar. 13, 2018 |
Maturity date | Jun. 11, 2018 |
Wells Fargo Bank [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 3,006 |
Annual issue rate | 2.45% |
Issue date | Mar. 14, 2018 |
Maturity date | Sep. 11, 2018 |
Wells Fargo Bank [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 606 |
Annual issue rate | 2.60% |
Issue date | Mar. 15, 2018 |
Maturity date | Dec. 14, 2018 |
Wells Fargo Bank [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 605 |
Annual issue rate | 2.60% |
Issue date | Mar. 29, 2018 |
Maturity date | Sep. 28, 2018 |
Wells Fargo Bank [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 60,343 |
Annual issue rate | 2.60% |
Issue date | Apr. 5, 2018 |
Maturity date | Sep. 4, 2018 |
Wells Fargo Bank [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 30,254 |
Annual issue rate | 2.50% |
Issue date | Apr. 6, 2018 |
Maturity date | Aug. 1, 2018 |
Wells Fargo Bank [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 1,743 |
Annual issue rate | 2.40% |
Issue date | Apr. 10, 2018 |
Maturity date | Aug. 9, 2018 |
Wells Fargo Bank [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 8,918 |
Annual issue rate | 2.75% |
Issue date | Apr. 13, 2018 |
Maturity date | Apr. 12, 2019 |
Wells Fargo Bank [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 8,946 |
Annual issue rate | 2.75% |
Issue date | Apr. 17, 2018 |
Maturity date | Apr. 16, 2019 |
Citibank N.A. [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 19,046 |
Annual issue rate | 2.36% |
Issue date | May 8, 2018 |
Maturity date | Aug. 8, 2018 |
Citibank N.A. [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 31,665 |
Annual issue rate | 2.38% |
Issue date | May 9, 2018 |
Maturity date | Aug. 7, 2018 |
Citibank N.A. [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 1,873 |
Annual issue rate | 2.37% |
Issue date | May 10, 2018 |
Maturity date | Aug. 8, 2018 |
Citibank N.A. [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 12,250 |
Annual issue rate | 2.36% |
Issue date | May 14, 2018 |
Maturity date | Aug. 15, 2018 |
Wells Fargo Bank [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 18,968 |
Annual issue rate | 2.70% |
Issue date | Jun. 11, 2018 |
Maturity date | Apr. 1, 2019 |
Wells Fargo Bank [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 28,973 |
Annual issue rate | 2.42% |
Issue date | Jun. 13, 2018 |
Maturity date | Jul. 24, 2018 |
Wells Fargo Bank [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 15,991 |
Annual issue rate | 2.45% |
Issue date | Jun. 19, 2018 |
Maturity date | Sep. 20, 2018 |
Citibank N.A. [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 12,778 |
Annual issue rate | 2.41% |
Issue date | Jun. 20, 2018 |
Maturity date | Sep. 20, 2018 |
Citibank N.A. [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 31,944 |
Annual issue rate | 2.45% |
Issue date | Jun. 20, 2018 |
Maturity date | Oct. 3, 2018 |
Wells Fargo Bank [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 3,194 |
Annual issue rate | 2.65% |
Issue date | Jun. 20, 2018 |
Maturity date | Feb. 13, 2019 |
Citibank N.A. [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 3,885 |
Annual issue rate | 2.50% |
Issue date | Jun. 22, 2018 |
Maturity date | Nov. 23, 2018 |
Wells Fargo Bank [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 19,495 |
Annual issue rate | 2.20% |
Issue date | Jun. 28, 2018 |
Maturity date | Jul. 27, 2018 |
Wells Fargo Bank [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 4,875 |
Annual issue rate | 2.30% |
Issue date | Jul. 3, 2018 |
Maturity date | Sep. 11, 2018 |
Wells Fargo Bank [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 29,556 |
Annual issue rate | 2.30% |
Issue date | Jul. 6, 2018 |
Maturity date | Sep. 10, 2018 |
Wells Fargo Bank [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 62,079 |
Annual issue rate | 2.45% |
Issue date | Jul. 17, 2018 |
Maturity date | Oct. 17, 2018 |
Wells Fargo Bank [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 32,729 |
Annual issue rate | 2.45% |
Issue date | Jul. 24, 2018 |
Maturity date | Oct. 22, 2018 |
Wells Fargo Bank [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 19,283 |
Annual issue rate | 2.45% |
Issue date | Jul. 27, 2018 |
Maturity date | Oct. 29, 2018 |
Wells Fargo Bank [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 31,919 |
Annual issue rate | 2.50% |
Issue date | Jul. 30, 2018 |
Maturity date | Nov. 29, 2018 |
Wells Fargo Bank [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 16,039 |
Annual issue rate | 2.52% |
Issue date | Aug. 1, 2018 |
Maturity date | Dec. 6, 2018 |
Citibank N.A. [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 25,787 |
Annual issue rate | 2.50% |
Issue date | Aug. 2, 2018 |
Maturity date | Dec. 6, 2018 |
Wells Fargo Bank [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 10,859 |
Annual issue rate | 2.47% |
Issue date | Aug. 7, 2018 |
Maturity date | Dec. 14, 2018 |
Wells Fargo Bank [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 3,238 |
Annual issue rate | 2.46% |
Issue date | Aug. 9, 2018 |
Maturity date | Dec. 14, 2018 |
Wells Fargo Bank [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 17,070 |
Annual issue rate | 2.53% |
Issue date | Aug. 31, 2018 |
Maturity date | Dec. 28, 2018 |
Wells Fargo Bank [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 6,929 |
Annual issue rate | 2.58% |
Issue date | Sep. 4, 2018 |
Maturity date | Feb. 6, 2019 |
Citibank N.A. [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 34,646 |
Annual issue rate | 2.57% |
Issue date | Apr. 9, 2018 |
Maturity date | Apr. 1, 2019 |
Citibank N.A. [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 4,902 |
Annual issue rate | 2.24% |
Issue date | Sep. 7, 2018 |
Maturity date | Oct. 9, 2018 |
Citibank N.A. [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 34,525 |
Annual issue rate | 2.25% |
Issue date | Sep. 7, 2018 |
Maturity date | Oct. 9, 2018 |
Citibank N.A. [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 1,742 |
Annual issue rate | 2.23% |
Issue date | Sep. 10, 2018 |
Maturity date | Oct. 9, 2018 |
Wells Fargo Bank [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 3,484 |
Annual issue rate | 2.65% |
Issue date | Sep. 10, 2018 |
Maturity date | Mar. 11, 2019 |
Wells Fargo Bank [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 6,026 |
Annual issue rate | 2.45% |
Issue date | Sep. 11, 2018 |
Maturity date | Dec. 6, 2018 |
Bofa Merrill Lynch [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 18,421 |
Annual issue rate | 2.62% |
Issue date | Sep. 14, 2018 |
Maturity date | Mar. 1, 2019 |
Wells Fargo Bank [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 33,464 |
Annual issue rate | 2.48% |
Issue date | Sep. 20, 2018 |
Maturity date | Dec. 20, 2018 |
Wells Fargo Bank [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 1,322 |
Annual issue rate | 2.70% |
Issue date | Oct. 3, 2018 |
Maturity date | Apr. 5, 2019 |
Wells Fargo Bank [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 13,591 |
Annual issue rate | 2.78% |
Issue date | Oct. 12, 2018 |
Maturity date | Apr. 25, 2019 |
Wells Fargo Bank [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 6,694 |
Annual issue rate | 2.55% |
Issue date | Oct. 16, 2018 |
Maturity date | Jan. 16, 2019 |
Citibank N.A. [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 6,713 |
Annual issue rate | 2.50% |
Issue date | Oct. 17, 2018 |
Maturity date | Jan. 4, 2019 |
Citibank N.A. [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 34,208 |
Annual issue rate | 2.65% |
Issue date | Oct. 23, 2018 |
Maturity date | Jan. 22, 2019 |
Citibank N.A. [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 20,483 |
Annual issue rate | 2.84% |
Issue date | Dec. 11, 2018 |
Maturity date | Mar. 11, 2019 |
Wells Fargo Bank [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 2,236 |
Annual issue rate | 2.90% |
Issue date | Dec. 12, 2018 |
Maturity date | Apr. 12, 2019 |
Wells Fargo Bank [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 34,555 |
Annual issue rate | 2.67% |
Issue date | Dec. 20, 2018 |
Maturity date | Feb. 19, 2019 |
Wells Fargo Bank [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 10,466 |
Annual issue rate | 2.97% |
Issue date | Dec. 27, 2018 |
Maturity date | May 2, 2019 |
Wells Fargo Bank [Member] | |
Statement Line Items [Line Items] | |
Currency | USD |
Amount | $ 6,977 |
Annual issue rate | 2.97% |
Issue date | Dec. 27, 2018 |
Maturity date | Apr. 29, 2019 |
Short-term Bonds [Member] | |
Statement Line Items [Line Items] | |
Amount | $ 940,720 |
Debt Issued - Current Bonds L_2
Debt Issued - Current Bonds Long-Term December 31, 2018 (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2018CLP ($) | |
BCHIEA0617 [Member] | |
Statement Line Items [Line Items] | |
Currency | UF |
Amount | $ 106,001 |
Terms Years | 6 years |
Annual issue rate | 1.60% |
Issue date | Jan. 3, 2024 |
Maturity date | Jan. 3, 2024 |
BCHIBN1015 [Member] | |
Statement Line Items [Line Items] | |
Currency | UF |
Amount | $ 114,212 |
Terms Years | 12 years |
Annual issue rate | 2.90% |
Issue date | Jan. 24, 2018 |
Maturity date | Jan. 24, 2030 |
BCHIEF1117 [Member] | |
Statement Line Items [Line Items] | |
Currency | UF |
Amount | $ 79,612 |
Terms Years | 8 years |
Annual issue rate | 1.80% |
Issue date | Feb. 9, 2026 |
Maturity date | Feb. 9, 2026 |
BCHIEP0717 [Member] | |
Statement Line Items [Line Items] | |
Currency | UF |
Amount | $ 104,550 |
Terms Years | 11 years |
Annual issue rate | 2.00% |
Issue date | Feb. 13, 2018 |
Maturity date | Feb. 13, 2029 |
BCHIBT1215 [Member] | |
Statement Line Items [Line Items] | |
Currency | UF |
Amount | $ 57,936 |
Terms Years | 14 years |
Annual issue rate | 3.00% |
Issue date | Mar. 13, 2018 |
Maturity date | Mar. 13, 2032 |
BCHIBW1215 [Member] | |
Statement Line Items [Line Items] | |
Currency | UF |
Amount | $ 59,081 |
Terms Years | 14 years |
Annual issue rate | 2.20% |
Issue date | Aug. 14, 2018 |
Maturity date | Aug. 14, 2032 |
BCHIDY0917 [Member] | |
Statement Line Items [Line Items] | |
Currency | UF |
Amount | $ 55,619 |
Terms Years | 5 years |
Annual issue rate | 1.24% |
Issue date | Aug. 16, 2018 |
Maturity date | Aug. 16, 2023 |
BCHIEN1117 [Member] | |
Statement Line Items [Line Items] | |
Currency | UF |
Amount | $ 109,543 |
Terms Years | 10 years |
Annual issue rate | 2.08% |
Issue date | Sep. 25, 2018 |
Maturity date | Sep. 25, 2028 |
BCHIDX0817 [Member] | |
Statement Line Items [Line Items] | |
Currency | UF |
Amount | $ 109,311 |
Terms Years | 5 years |
Annual issue rate | 1.70% |
Issue date | Oct. 22, 2018 |
Maturity date | Oct. 22, 2023 |
BCHIDY0917 [Member] | |
Statement Line Items [Line Items] | |
Currency | UF |
Amount | $ 12,025 |
Terms Years | 5 years |
Annual issue rate | 1.74% |
Issue date | Oct. 22, 2018 |
Maturity date | Oct. 22, 2023 |
BCHIDY0917 [Member] | |
Statement Line Items [Line Items] | |
Currency | UF |
Amount | $ 15,299 |
Terms Years | 5 years |
Annual issue rate | 1.75% |
Issue date | Oct. 22, 2018 |
Maturity date | Oct. 22, 2023 |
BCHIBY1215 [Member] | |
Statement Line Items [Line Items] | |
Currency | UF |
Amount | $ 59,374 |
Terms Years | 15 years |
Annual issue rate | 2.29% |
Issue date | Oct. 24, 2018 |
Maturity date | Oct. 24, 2033 |
BCHIBX0815 [Member] | |
Statement Line Items [Line Items] | |
Currency | UF |
Amount | $ 58,998 |
Terms Years | 15 years |
Annual issue rate | 2.29% |
Issue date | Oct. 24, 2018 |
Maturity date | Oct. 24, 2033 |
BCHIBZ0815 [Member] | |
Statement Line Items [Line Items] | |
Currency | UF |
Amount | $ 59,987 |
Terms Years | 15 years |
Annual issue rate | 2.23% |
Issue date | Jul. 12, 2018 |
Maturity date | Dec. 7, 2033 |
BCHIEJ0717 [Member] | |
Statement Line Items [Line Items] | |
Currency | UF |
Amount | $ 82,878 |
Terms Years | 9 years |
Annual issue rate | 1.99% |
Issue date | Dec. 12, 2018 |
Maturity date | Dec. 12, 2027 |
Subtotal UF [Member] | |
Statement Line Items [Line Items] | |
Amount | $ 1,084,426 |
BCHIDH0916 [Member] | |
Statement Line Items [Line Items] | |
Amount | $ 20,370 |
Terms Years | 4 years |
Annual issue rate | 3.80% |
Issue date | Nov. 6, 2018 |
Maturity date | Jun. 11, 2022 |
BONO USD [Member] | |
Statement Line Items [Line Items] | |
Amount | $ 32,842 |
Terms Years | 10 years |
Annual issue rate | 4.26% |
Issue date | Sep. 28, 2018 |
Maturity date | Sep. 28, 2028 |
BONO CHF [Member] | |
Statement Line Items [Line Items] | |
Amount | $ 79,229 |
Terms Years | 5 years |
Annual issue rate | 0.57% |
Issue date | Oct. 26, 2018 |
Maturity date | Oct. 26, 2023 |
Subtotal other currencies [Member] | |
Statement Line Items [Line Items] | |
Amount | $ 132,441 |
Total Currency [Member] | |
Statement Line Items [Line Items] | |
Amount | $ 1,216,867 |
Debt Issued (Details Textual)
Debt Issued (Details Textual) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Debt Issued (Textual) | |||
Proceeds from bond issuances | $ 2,625,176 | $ 2,157,587 | $ 1,399,001 |
Short-Term Bonds [Member] | |||
Debt Issued (Textual) | |||
Proceeds from bond issuances | 944,413 | 940,720 | |
Current Bonds [Member] | |||
Debt Issued (Textual) | |||
Proceeds from bond issuances | 1,465,406 | $ 1,216,867 | |
Subordinated Bonds [Member] | |||
Debt Issued (Textual) | |||
Proceeds from bond issuances | $ 215,357 |
Other Financial Obligations (De
Other Financial Obligations (Details) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Other Financial Obligations [Abstract] | ||
Other Chilean obligations | $ 138,575 | $ 95,912 |
Public sector obligations | 17,654 | 22,102 |
Total | $ 156,229 | $ 118,014 |
Provisions (Details)
Provisions (Details) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure of other provisions [abstract] | |||
Provision for minimum dividends | $ 177,902 | $ 178,462 | |
Provisions for contingent loan risks | 24,971 | 25,016 | |
Provisions for other contingencies | 501 | 468 | |
Provisions | $ 203,374 | $ 203,946 | $ 217,512 |
Provisions - Changes in Provisi
Provisions - Changes in Provisions (Details) - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Changes in provisions | ||
Beginning Balance | $ 203,946 | $ 217,512 |
Provisions established | 177,935 | 180,506 |
Provisions used | (178,507) | (192,151) |
Provisions released | (1,921) | |
Ending Balance | 203,374 | 203,946 |
Minimum dividends | ||
Changes in provisions | ||
Beginning Balance | 172,804 | |
Provisions established | 177,902 | 178,462 |
Provisions used | (178,462) | (172,804) |
Provisions released | ||
Contingent loan risks | ||
Changes in provisions | ||
Beginning Balance | 22,975 | |
Provisions established | 2,041 | |
Provisions used | (45) | |
Provisions released | ||
Other | ||
Changes in provisions | ||
Beginning Balance | 468 | 21,733 |
Provisions established | 33 | 3 |
Provisions used | (19,347) | |
Provisions released | (1,921) | |
Ending Balance | $ 501 | $ 468 |
Provisions - Provisions for Con
Provisions - Provisions for Contingent Loan Risks (Details) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Outstanding exposure | ||
Disclosure of other provisions [line items] | ||
Foreign office guarantees and standby letters of credit | $ 280,838 | $ 341,676 |
Confirmed foreign letters of credit | 94,673 | 56,764 |
Issued foreign letters of credit | 316,916 | 388,396 |
Performance guarantees | 2,283,390 | 2,232,682 |
Undrawn credit lines | 7,870,260 | 7,769,325 |
Other commitments | 155,163 | 46,561 |
Total | 11,001,240 | 10,835,404 |
ECL | ||
Disclosure of other provisions [line items] | ||
Foreign office guarantees and standby letters of credit | 63 | 428 |
Confirmed foreign letters of credit | 4 | 29 |
Issued foreign letters of credit | 51 | 93 |
Performance guarantees | 4,037 | 4,080 |
Undrawn credit lines | 20,816 | 20,386 |
Other commitments | ||
Total | $ 24,971 | $ 25,016 |
Provisions - Maximum exposure t
Provisions - Maximum exposure to credit risk - Foreign office guarantees and standby letters of credit (Details) - Foreign office guarantees and standby letters of credit [Member] - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure of other provisions [line items] | |||
Normal | $ 280,462 | $ 341,329 | |
Substandard | 376 | 347 | |
Non-complying | |||
Total | 280,838 | 341,676 | $ 285,035 |
Stage 1 - Individual [Member] | |||
Disclosure of other provisions [line items] | |||
Normal | 249,306 | 332,965 | |
Substandard | |||
Non-complying | |||
Total | 249,306 | 332,965 | 274,563 |
Stage 1 - Group [Member] | |||
Disclosure of other provisions [line items] | |||
Normal | 395 | 138 | |
Substandard | |||
Non-complying | |||
Total | 395 | 138 | 84 |
Stage 2 - Individual [Member] | |||
Disclosure of other provisions [line items] | |||
Normal | 30,761 | 8,226 | |
Substandard | 376 | 347 | |
Non-complying | |||
Total | 31,137 | 8,573 | 10,388 |
Stage 2 - Group [Member] | |||
Disclosure of other provisions [line items] | |||
Normal | |||
Substandard | |||
Non-complying | |||
Total | |||
Stage 3 - Individual [Member] | |||
Disclosure of other provisions [line items] | |||
Normal | |||
Substandard | |||
Non-complying | |||
Total | |||
Stage 3 - Group [Member] | |||
Disclosure of other provisions [line items] | |||
Normal | |||
Substandard | |||
Non-complying | |||
Total |
Provisions - Foreign Office Gua
Provisions - Foreign Office Guarantees and Standby Letters of Credit - Outstanding Exposures (Details) - Foreign office guarantees and standby letters of credit [Member] - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | $ 341,676 | $ 285,035 |
Net change on exposures | (39,384) | 29,677 |
Transfer to Stage 1 | ||
Transfer to Stage 2 | ||
Transfer to Stage 3 | ||
Foreign exchange adjustments | (21,454) | 26,964 |
Exposure as at ending of period | 280,838 | 341,676 |
Stage 1 - Individual [Member] | ||
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | 332,965 | 274,563 |
Net change on exposures | (47,268) | 33,660 |
Transfer to Stage 1 | 5,243 | 4,994 |
Transfer to Stage 2 | (22,454) | (6,513) |
Transfer to Stage 3 | ||
Foreign exchange adjustments | (19,180) | 26,261 |
Exposure as at ending of period | 249,306 | 332,965 |
Stage 1 - Group [Member] | ||
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | 138 | 84 |
Net change on exposures | 273 | 24 |
Transfer to Stage 1 | 7 | |
Transfer to Stage 2 | ||
Transfer to Stage 3 | ||
Foreign exchange adjustments | (23) | 30 |
Exposure as at ending of period | 395 | 138 |
Stage 2 - Individual [Member] | ||
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | 8,573 | 10,388 |
Net change on exposures | 7,604 | (4,139) |
Transfer to Stage 1 | (5,243) | (4,855) |
Transfer to Stage 2 | 22,454 | 6,513 |
Transfer to Stage 3 | ||
Foreign exchange adjustments | (2,251) | 666 |
Exposure as at ending of period | 31,137 | 8,573 |
Stage 2 - Group [Member] | ||
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | ||
Net change on exposures | 7 | |
Transfer to Stage 1 | (7) | |
Transfer to Stage 2 | ||
Transfer to Stage 3 | ||
Foreign exchange adjustments | ||
Exposure as at ending of period | ||
Stage 3 - Individual [Member] | ||
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | ||
Net change on exposures | 132 | |
Transfer to Stage 1 | (139) | |
Transfer to Stage 2 | ||
Transfer to Stage 3 | ||
Foreign exchange adjustments | 7 | |
Exposure as at ending of period | ||
Stage 3 - Group [Member] | ||
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | ||
Net change on exposures | ||
Transfer to Stage 1 | ||
Transfer to Stage 2 | ||
Transfer to Stage 3 | ||
Foreign exchange adjustments | ||
Exposure as at ending of period |
Provisions - Foreign Office G_2
Provisions - Foreign Office Guarantees and Standby Letters of Credit - ECL Exposures (Details) - Foreign office guarantees and standby letters of credit [Member] - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | $ 428 | $ 256 |
Net change on exposures | (348) | 208 |
Transfer to Stage 1 | ||
Transfer to Stage 2 | ||
Transfer to Stage 3 | ||
Impact on year-end ECL of exposures transferred between stages during the year | (1) | (70) |
Changes to models and assumptions | (25) | |
Foreign exchange adjustments | 9 | 34 |
Exposure as at ending of period | 63 | 428 |
Stage 1 - Individual [Member] | ||
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | 428 | 256 |
Net change on exposures | (366) | 152 |
Transfer to Stage 1 | 8 | 60 |
Transfer to Stage 2 | (6) | (14) |
Transfer to Stage 3 | ||
Impact on year-end ECL of exposures transferred between stages during the year | (1) | (56) |
Changes to models and assumptions | (32) | |
Foreign exchange adjustments | 10 | 30 |
Exposure as at ending of period | 41 | 428 |
Stage 1 - Group [Member] | ||
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | ||
Net change on exposures | (1) | |
Transfer to Stage 1 | ||
Transfer to Stage 2 | ||
Transfer to Stage 3 | ||
Impact on year-end ECL of exposures transferred between stages during the year | ||
Changes to models and assumptions | ||
Foreign exchange adjustments | 1 | |
Exposure as at ending of period | ||
Stage 2 - Individual [Member] | ||
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | ||
Net change on exposures | 18 | |
Transfer to Stage 1 | (8) | |
Transfer to Stage 2 | 6 | 14 |
Transfer to Stage 3 | ||
Impact on year-end ECL of exposures transferred between stages during the year | (14) | |
Changes to models and assumptions | 7 | |
Foreign exchange adjustments | (1) | |
Exposure as at ending of period | 22 | |
Stage 2 - Group [Member] | ||
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | ||
Net change on exposures | ||
Transfer to Stage 1 | ||
Transfer to Stage 2 | ||
Transfer to Stage 3 | ||
Impact on year-end ECL of exposures transferred between stages during the year | ||
Changes to models and assumptions | ||
Foreign exchange adjustments | ||
Exposure as at ending of period | ||
Stage 3 - Individual [Member] | ||
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | ||
Net change on exposures | 57 | |
Transfer to Stage 1 | (60) | |
Transfer to Stage 2 | ||
Transfer to Stage 3 | ||
Impact on year-end ECL of exposures transferred between stages during the year | ||
Changes to models and assumptions | ||
Foreign exchange adjustments | 3 | |
Exposure as at ending of period | ||
Stage 3 - Group [Member] | ||
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | ||
Net change on exposures | ||
Transfer to Stage 1 | ||
Transfer to Stage 2 | ||
Transfer to Stage 3 | ||
Impact on year-end ECL of exposures transferred between stages during the year | ||
Changes to models and assumptions | ||
Foreign exchange adjustments | ||
Exposure as at ending of period |
Provisions - Maximum exposure_2
Provisions - Maximum exposure to credit risk - Confirmed foreign letters of credit (Details) - Confirmed foreign letters of credit [Member] - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure of other provisions [line items] | |||
Normal | $ 94,673 | $ 56,764 | |
Substandard | |||
Non-complying | |||
Total | 94,673 | 56,764 | $ 64,970 |
Stage 1 - Individual [Member] | |||
Disclosure of other provisions [line items] | |||
Normal | 94,673 | 56,764 | |
Substandard | |||
Non-complying | |||
Total | 94,673 | 56,764 | 64,970 |
Stage 1 - Group [Member] | |||
Disclosure of other provisions [line items] | |||
Normal | |||
Substandard | |||
Non-complying | |||
Total | |||
Stage 2 - Individual [Member] | |||
Disclosure of other provisions [line items] | |||
Normal | |||
Substandard | |||
Non-complying | |||
Total | |||
Stage 2 - Group [Member] | |||
Disclosure of other provisions [line items] | |||
Normal | |||
Substandard | |||
Non-complying | |||
Total | |||
Stage 3 - Individual [Member] | |||
Disclosure of other provisions [line items] | |||
Normal | |||
Substandard | |||
Non-complying | |||
Total | |||
Stage 3 - Group [Member] | |||
Disclosure of other provisions [line items] | |||
Normal | |||
Substandard | |||
Non-complying | |||
Total |
Provisions - Confirmed Foreign
Provisions - Confirmed Foreign Letters of Credit - Outstanding Exposures (Details) - Confirmed foreign letters of credit [Member] - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | $ 56,764 | $ 64,970 |
Net change on exposures | 46,648 | (15,447) |
Transfer to Stage 1 | ||
Transfer to Stage 2 | ||
Transfer to Stage 3 | ||
Foreign exchange adjustments | (8,739) | 7,241 |
Exposure as at ending of period | 94,673 | 56,764 |
Stage 1 - Individual [Member] | ||
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | 56,764 | 64,970 |
Net change on exposures | 46,648 | (15,455) |
Transfer to Stage 1 | ||
Transfer to Stage 2 | ||
Transfer to Stage 3 | ||
Foreign exchange adjustments | (8,739) | 7,249 |
Exposure as at ending of period | 94,673 | 56,764 |
Stage 1 - Group [Member] | ||
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | ||
Net change on exposures | ||
Transfer to Stage 1 | ||
Transfer to Stage 2 | ||
Transfer to Stage 3 | ||
Foreign exchange adjustments | ||
Exposure as at ending of period | ||
Stage 2 - Individual [Member] | ||
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | ||
Net change on exposures | 8 | |
Transfer to Stage 1 | ||
Transfer to Stage 2 | ||
Transfer to Stage 3 | ||
Foreign exchange adjustments | (8) | |
Exposure as at ending of period | ||
Stage 2 - Group [Member] | ||
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | ||
Net change on exposures | ||
Transfer to Stage 1 | ||
Transfer to Stage 2 | ||
Transfer to Stage 3 | ||
Foreign exchange adjustments | ||
Exposure as at ending of period | ||
Stage 3 - Individual [Member] | ||
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | ||
Net change on exposures | ||
Transfer to Stage 1 | ||
Transfer to Stage 2 | ||
Transfer to Stage 3 | ||
Foreign exchange adjustments | ||
Exposure as at ending of period | ||
Stage 3 - Group [Member] | ||
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | ||
Net change on exposures | ||
Transfer to Stage 1 | ||
Transfer to Stage 2 | ||
Transfer to Stage 3 | ||
Foreign exchange adjustments | ||
Exposure as at ending of period |
Provisions - Confirmed Foreig_2
Provisions - Confirmed Foreign Letters of Credit - ECL Exposures (Details) - Confirmed foreign letters of credit [Member] - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | $ 29 | $ 23 |
Net change on exposures | (24) | 3 |
Transfer to Stage 1 | ||
Transfer to Stage 2 | ||
Transfer to Stage 3 | ||
Impact on year-end ECL of exposures transferred between stages during the year | ||
Changes to models and assumptions | (1) | |
Foreign exchange adjustments | 3 | |
Exposure as at ending of period | 4 | 29 |
Stage 1 - Individual [Member] | ||
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | 29 | 23 |
Net change on exposures | (24) | 3 |
Transfer to Stage 1 | ||
Transfer to Stage 2 | ||
Transfer to Stage 3 | ||
Impact on year-end ECL of exposures transferred between stages during the year | ||
Changes to models and assumptions | (1) | |
Foreign exchange adjustments | 3 | |
Exposure as at ending of period | 4 | 29 |
Stage 1 - Group [Member] | ||
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | ||
Net change on exposures | ||
Transfer to Stage 1 | ||
Transfer to Stage 2 | ||
Transfer to Stage 3 | ||
Impact on year-end ECL of exposures transferred between stages during the year | ||
Foreign exchange adjustments | ||
Exposure as at ending of period | ||
Stage 2 - Individual [Member] | ||
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | ||
Net change on exposures | ||
Transfer to Stage 1 | ||
Transfer to Stage 2 | ||
Transfer to Stage 3 | ||
Impact on year-end ECL of exposures transferred between stages during the year | ||
Foreign exchange adjustments | ||
Exposure as at ending of period | ||
Stage 2 - Group [Member] | ||
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | ||
Net change on exposures | ||
Transfer to Stage 1 | ||
Transfer to Stage 2 | ||
Transfer to Stage 3 | ||
Impact on year-end ECL of exposures transferred between stages during the year | ||
Foreign exchange adjustments | ||
Exposure as at ending of period | ||
Stage 3 - Individual [Member] | ||
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | ||
Net change on exposures | ||
Transfer to Stage 1 | ||
Transfer to Stage 2 | ||
Transfer to Stage 3 | ||
Impact on year-end ECL of exposures transferred between stages during the year | ||
Foreign exchange adjustments | ||
Exposure as at ending of period | ||
Stage 3 - Group [Member] | ||
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | ||
Net change on exposures | ||
Transfer to Stage 1 | ||
Transfer to Stage 2 | ||
Transfer to Stage 3 | ||
Impact on year-end ECL of exposures transferred between stages during the year | ||
Foreign exchange adjustments | ||
Exposure as at ending of period |
Provisions - Maximum exposure_3
Provisions - Maximum exposure to credit risk - Issued foreign letters of credit (Details) - Issued foreign letters of credit [Member] - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure of other provisions [line items] | |||
Normal | $ 316,916 | $ 388,396 | |
Substandard | |||
Non-complying | |||
Total | 316,916 | 388,396 | $ 94,313 |
Stage 1 - Individual [Member] | |||
Disclosure of other provisions [line items] | |||
Normal | 149,753 | 344,874 | |
Substandard | |||
Non-complying | |||
Total | 149,753 | 344,874 | 80,106 |
Stage 1 - Group [Member] | |||
Disclosure of other provisions [line items] | |||
Normal | 1,308 | 1,585 | |
Substandard | |||
Non-complying | |||
Total | 1,308 | 1,585 | 1,737 |
Stage 2 - Individual [Member] | |||
Disclosure of other provisions [line items] | |||
Normal | 165,538 | 41,823 | |
Substandard | |||
Non-complying | |||
Total | 165,538 | 41,823 | 11,984 |
Stage 2 - Group [Member] | |||
Disclosure of other provisions [line items] | |||
Normal | 317 | 114 | |
Substandard | |||
Non-complying | |||
Total | 317 | 114 | 486 |
Stage 3 - Individual [Member] | |||
Disclosure of other provisions [line items] | |||
Normal | |||
Substandard | |||
Non-complying | |||
Total | |||
Stage 3 - Group [Member] | |||
Disclosure of other provisions [line items] | |||
Normal | |||
Substandard | |||
Non-complying | |||
Total |
Provisions - Issued Foreign Let
Provisions - Issued Foreign Letters of Credit - Outstanding Exposures (Details) - Issued foreign letters of credit [Member] - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | $ 388,396 | $ 94,313 |
Net change on exposures | (62,629) | 283,384 |
Transfer to Stage 1 | ||
Transfer to Stage 2 | ||
Transfer to Stage 3 | ||
Foreign exchange adjustments | (8,851) | 10,699 |
Exposure as at ending of period | 316,916 | 388,396 |
Stage 1 - Individual [Member] | ||
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | 344,874 | 80,106 |
Net change on exposures | (41,247) | 262,824 |
Transfer to Stage 1 | 20,794 | 6,268 |
Transfer to Stage 2 | (167,024) | (13,420) |
Transfer to Stage 3 | ||
Foreign exchange adjustments | (7,644) | 9,096 |
Exposure as at ending of period | 149,753 | 344,874 |
Stage 1 - Group [Member] | ||
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | 1,585 | 1,737 |
Net change on exposures | (362) | 832 |
Transfer to Stage 1 | 491 | |
Transfer to Stage 2 | (333) | (1,098) |
Transfer to Stage 3 | ||
Foreign exchange adjustments | (73) | 114 |
Exposure as at ending of period | 1,308 | 1,585 |
Stage 2 - Individual [Member] | ||
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | 41,823 | 11,984 |
Net change on exposures | (21,391) | 21,226 |
Transfer to Stage 1 | (20,794) | (6,268) |
Transfer to Stage 2 | 167,024 | 13,420 |
Transfer to Stage 3 | ||
Foreign exchange adjustments | (1,124) | 1,461 |
Exposure as at ending of period | 165,538 | 41,823 |
Stage 2 - Group [Member] | ||
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | 114 | 486 |
Net change on exposures | 371 | (1,498) |
Transfer to Stage 1 | (491) | |
Transfer to Stage 2 | 333 | 1,098 |
Transfer to Stage 3 | ||
Foreign exchange adjustments | (10) | 28 |
Exposure as at ending of period | 317 | 114 |
Stage 3 - Individual [Member] | ||
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | ||
Net change on exposures | ||
Transfer to Stage 1 | ||
Transfer to Stage 2 | ||
Transfer to Stage 3 | ||
Foreign exchange adjustments | ||
Exposure as at ending of period | ||
Stage 3 - Group [Member] | ||
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | ||
Net change on exposures | ||
Transfer to Stage 1 | ||
Transfer to Stage 2 | ||
Transfer to Stage 3 | ||
Foreign exchange adjustments | ||
Exposure as at ending of period |
Provisions - Issued Foreign L_2
Provisions - Issued Foreign Letters of Credit - ECL Exposures (Details) - Issued foreign letters of credit [Member] - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | $ 93 | $ 49 |
Net change on exposures | (41) | 44 |
Transfer to Stage 1 | ||
Transfer to Stage 2 | ||
Transfer to Stage 3 | ||
Impact on year-end ECL of exposures transferred between stages during the year | (2) | (4) |
Changes to models and assumptions | 1 | |
Foreign exchange adjustments | 4 | |
Exposure as at ending of period | 51 | 93 |
Stage 1 - Individual [Member] | ||
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | 83 | 43 |
Net change on exposures | (61) | 38 |
Transfer to Stage 1 | ||
Transfer to Stage 2 | (3) | (6) |
Transfer to Stage 3 | ||
Impact on year-end ECL of exposures transferred between stages during the year | 4 | |
Changes to models and assumptions | 1 | |
Foreign exchange adjustments | 4 | |
Exposure as at ending of period | 20 | 83 |
Stage 1 - Group [Member] | ||
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | 10 | 6 |
Net change on exposures | (8) | 7 |
Transfer to Stage 1 | ||
Transfer to Stage 2 | (1) | (3) |
Transfer to Stage 3 | ||
Impact on year-end ECL of exposures transferred between stages during the year | ||
Changes to models and assumptions | ||
Foreign exchange adjustments | ||
Exposure as at ending of period | 1 | 10 |
Stage 2 - Individual [Member] | ||
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | ||
Net change on exposures | 10 | |
Transfer to Stage 1 | ||
Transfer to Stage 2 | 3 | 6 |
Transfer to Stage 3 | ||
Impact on year-end ECL of exposures transferred between stages during the year | (2) | (6) |
Changes to models and assumptions | ||
Foreign exchange adjustments | ||
Exposure as at ending of period | 11 | |
Stage 2 - Group [Member] | ||
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | ||
Net change on exposures | 18 | (1) |
Transfer to Stage 1 | ||
Transfer to Stage 2 | 1 | 3 |
Transfer to Stage 3 | ||
Impact on year-end ECL of exposures transferred between stages during the year | (2) | |
Changes to models and assumptions | ||
Foreign exchange adjustments | ||
Exposure as at ending of period | 19 | |
Stage 3 - Individual [Member] | ||
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | ||
Net change on exposures | ||
Transfer to Stage 1 | ||
Transfer to Stage 2 | ||
Transfer to Stage 3 | ||
Impact on year-end ECL of exposures transferred between stages during the year | ||
Changes to models and assumptions | ||
Foreign exchange adjustments | ||
Exposure as at ending of period | ||
Stage 3 - Group [Member] | ||
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | ||
Net change on exposures | ||
Transfer to Stage 1 | ||
Transfer to Stage 2 | ||
Transfer to Stage 3 | ||
Impact on year-end ECL of exposures transferred between stages during the year | ||
Changes to models and assumptions | ||
Foreign exchange adjustments | ||
Exposure as at ending of period |
Provisions - Maximum exposure_4
Provisions - Maximum exposure to credit risk - Performance guarantees (Details) - Performance guarantees [Member] - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of other provisions [line items] | ||
Normal | $ 2,274,290 | $ 2,221,484 |
Substandard | 5,806 | 7,586 |
Non-complying | 3,294 | 3,612 |
Total | 2,283,390 | 2,232,682 |
Stage 1 - Individual [Member] | ||
Disclosure of other provisions [line items] | ||
Normal | 1,804,374 | 1,685,980 |
Substandard | ||
Non-complying | ||
Total | 1,804,374 | 1,685,980 |
Stage 1 - Group [Member] | ||
Disclosure of other provisions [line items] | ||
Normal | 44,325 | 54,523 |
Substandard | ||
Non-complying | ||
Total | 44,325 | 54,523 |
Stage 2 - Individual [Member] | ||
Disclosure of other provisions [line items] | ||
Normal | 414,621 | 477,489 |
Substandard | 5,806 | 7,586 |
Non-complying | ||
Total | 420,427 | 485,075 |
Stage 2 - Group [Member] | ||
Disclosure of other provisions [line items] | ||
Normal | 10,970 | 3,470 |
Substandard | ||
Non-complying | 74 | |
Total | 10,970 | 3,544 |
Stage 3 - Individual [Member] | ||
Disclosure of other provisions [line items] | ||
Normal | ||
Substandard | ||
Non-complying | 2,194 | 2,310 |
Total | 2,194 | 2,310 |
Stage 3 - Group [Member] | ||
Disclosure of other provisions [line items] | ||
Normal | 22 | |
Substandard | ||
Non-complying | 1,100 | 1,228 |
Total | $ 1,100 | $ 1,250 |
Provisions - Performance Guaran
Provisions - Performance Guarantees - Outstanding Exposures (Details) - Performance guarantees [Member] - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | $ 2,232,682 | $ 2,220,828 |
Net change on exposures | 84,753 | (22,811) |
Transfer to Stage 1 | ||
Transfer to Stage 2 | ||
Transfer to Stage 3 | ||
Foreign exchange adjustments | (34,045) | 34,665 |
Exposure as at ending of period | 2,283,390 | 2,232,682 |
Stage 1 - Individual [Member] | ||
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | 1,685,980 | 1,803,358 |
Net change on exposures | 129,463 | (6,282) |
Transfer to Stage 1 | 249,755 | 189,344 |
Transfer to Stage 2 | (229,813) | (332,091) |
Transfer to Stage 3 | (74) | (13) |
Foreign exchange adjustments | (30,937) | 31,664 |
Exposure as at ending of period | 1,804,374 | 1,685,980 |
Stage 1 - Group [Member] | ||
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | 54,523 | 46,416 |
Net change on exposures | (10,568) | 8,008 |
Transfer to Stage 1 | 18,249 | 10,346 |
Transfer to Stage 2 | (17,111) | (9,034) |
Transfer to Stage 3 | (729) | (1,304) |
Foreign exchange adjustments | (39) | 91 |
Exposure as at ending of period | 44,325 | 54,523 |
Stage 2 - Individual [Member] | ||
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | 485,075 | 365,137 |
Net change on exposures | (38,887) | (23,779) |
Transfer to Stage 1 | (249,755) | (189,279) |
Transfer to Stage 2 | 230,906 | 332,365 |
Transfer to Stage 3 | (3,884) | (2,256) |
Foreign exchange adjustments | (3,028) | 2,887 |
Exposure as at ending of period | 420,427 | 485,075 |
Stage 2 - Group [Member] | ||
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | 3,544 | 3,741 |
Net change on exposures | 8,898 | 1,963 |
Transfer to Stage 1 | (18,092) | (10,258) |
Transfer to Stage 2 | 17,417 | 9,067 |
Transfer to Stage 3 | (792) | (975) |
Foreign exchange adjustments | (5) | 6 |
Exposure as at ending of period | 10,970 | 3,544 |
Stage 3 - Individual [Member] | ||
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | 2,310 | 1,162 |
Net change on exposures | (2,950) | (786) |
Transfer to Stage 1 | (65) | |
Transfer to Stage 2 | (1,093) | (274) |
Transfer to Stage 3 | 3,958 | 2,269 |
Foreign exchange adjustments | (31) | 4 |
Exposure as at ending of period | 2,194 | 2,310 |
Stage 3 - Group [Member] | ||
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | 1,250 | 1,014 |
Net change on exposures | (1,203) | (1,935) |
Transfer to Stage 1 | (157) | (88) |
Transfer to Stage 2 | (306) | (33) |
Transfer to Stage 3 | 1,521 | 2,279 |
Foreign exchange adjustments | (5) | 13 |
Exposure as at ending of period | $ 1,100 | $ 1,250 |
Provisions - Performance Guar_2
Provisions - Performance Guarantees - ECL Exposures (Details) - Performance guarantees [Member] - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | $ 4,080 | $ 3,676 |
Net change on exposures | (659) | 301 |
Transfer to Stage 1 | ||
Transfer to Stage 2 | ||
Transfer to Stage 3 | ||
Impact on year-end ECL of exposures transferred between stages during the year | 473 | 48 |
Changes to models and assumptions | 137 | |
Foreign exchange adjustments | 6 | 55 |
Exposure as at ending of period | 4,037 | 4,080 |
Stage 1 - Individual [Member] | ||
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | 2,308 | 1,841 |
Net change on exposures | (1,717) | 664 |
Transfer to Stage 1 | 287 | |
Transfer to Stage 2 | (249) | (439) |
Transfer to Stage 3 | (2) | |
Impact on year-end ECL of exposures transferred between stages during the year | (18) | 209 |
Changes to models and assumptions | (15) | |
Foreign exchange adjustments | 7 | 33 |
Exposure as at ending of period | 601 | 2,308 |
Stage 1 - Group [Member] | ||
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | 509 | 384 |
Net change on exposures | (178) | 73 |
Transfer to Stage 1 | 20 | 18 |
Transfer to Stage 2 | (233) | (87) |
Transfer to Stage 3 | (22) | (80) |
Impact on year-end ECL of exposures transferred between stages during the year | 182 | 200 |
Changes to models and assumptions | ||
Foreign exchange adjustments | (1) | 1 |
Exposure as at ending of period | 277 | 509 |
Stage 2 - Individual [Member] | ||
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | 765 | 947 |
Net change on exposures | 767 | (113) |
Transfer to Stage 1 | (287) | |
Transfer to Stage 2 | 919 | 442 |
Transfer to Stage 3 | (192) | (86) |
Impact on year-end ECL of exposures transferred between stages during the year | (684) | (444) |
Changes to models and assumptions | 152 | |
Foreign exchange adjustments | 19 | |
Exposure as at ending of period | 1,440 | 765 |
Stage 2 - Group [Member] | ||
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | ||
Net change on exposures | 789 | (2) |
Transfer to Stage 1 | (20) | |
Transfer to Stage 2 | 233 | 90 |
Transfer to Stage 3 | (17) | |
Impact on year-end ECL of exposures transferred between stages during the year | (231) | (88) |
Changes to models and assumptions | ||
Foreign exchange adjustments | ||
Exposure as at ending of period | 754 | |
Stage 3 - Individual [Member] | ||
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | 495 | 470 |
Net change on exposures | (791) | (310) |
Transfer to Stage 1 | ||
Transfer to Stage 2 | (670) | (3) |
Transfer to Stage 3 | 194 | 86 |
Impact on year-end ECL of exposures transferred between stages during the year | 1,263 | 250 |
Changes to models and assumptions | ||
Foreign exchange adjustments | 2 | |
Exposure as at ending of period | 491 | 495 |
Stage 3 - Group [Member] | ||
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | 3 | 34 |
Net change on exposures | 471 | (11) |
Transfer to Stage 1 | (18) | |
Transfer to Stage 2 | (3) | |
Transfer to Stage 3 | 39 | 80 |
Impact on year-end ECL of exposures transferred between stages during the year | (39) | (79) |
Changes to models and assumptions | ||
Foreign exchange adjustments | ||
Exposure as at ending of period | $ 474 | $ 3 |
Provisions - Maximum exposure_5
Provisions - Maximum exposure to credit risk - Undrawn credit lines (Details) - Undrawn credit lines [Member] - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure of other provisions [line items] | |||
Normal | $ 7,858,902 | $ 7,756,251 | |
Substandard | 1,468 | 1,502 | |
Non-complying | 9,890 | 11,572 | |
Total | 7,870,260 | 7,769,325 | $ 7,240,406 |
Stage 1 - Individual [Member] | |||
Disclosure of other provisions [line items] | |||
Normal | 1,135,118 | 1,279,611 | |
Substandard | |||
Non-complying | |||
Total | 1,135,118 | 1,279,611 | 1,199,593 |
Stage 1 - Group [Member] | |||
Disclosure of other provisions [line items] | |||
Normal | 6,434,148 | 5,512,504 | |
Substandard | |||
Non-complying | |||
Total | 6,434,148 | 5,512,504 | 5,086,210 |
Stage 2 - Individual [Member] | |||
Disclosure of other provisions [line items] | |||
Normal | 81,990 | 177,084 | |
Substandard | 1,468 | 1,502 | |
Non-complying | |||
Total | 83,458 | 178,586 | 147,053 |
Stage 2 - Group [Member] | |||
Disclosure of other provisions [line items] | |||
Normal | 207,646 | 786,603 | |
Substandard | |||
Non-complying | 60 | ||
Total | 207,646 | 786,663 | 794,449 |
Stage 3 - Individual [Member] | |||
Disclosure of other provisions [line items] | |||
Normal | |||
Substandard | |||
Non-complying | 359 | 328 | |
Total | 359 | 328 | 411 |
Stage 3 - Group [Member] | |||
Disclosure of other provisions [line items] | |||
Normal | 449 | ||
Substandard | |||
Non-complying | 9,531 | 11,184 | |
Total | $ 9,531 | $ 11,633 | $ 12,690 |
Provisions - Undrawn Credit Lin
Provisions - Undrawn Credit Lines - Outstanding Exposures (Details) - Undrawn credit lines [Member] - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | $ 7,769,325 | $ 7,240,406 |
Net change on exposures | 329,925 | 601,223 |
Transfer to Stage 1 | ||
Transfer to Stage 2 | ||
Transfer to Stage 3 | ||
Foreign exchange adjustments | (228,990) | (72,304) |
Exposure as at ending of period | 7,870,260 | 7,769,325 |
Stage 1 - Individual [Member] | ||
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | 1,279,611 | 1,199,593 |
Net change on exposures | (182,381) | 111,426 |
Transfer to Stage 1 | 162,455 | 130,936 |
Transfer to Stage 2 | (118,673) | (166,795) |
Transfer to Stage 3 | (57) | (120) |
Foreign exchange adjustments | (5,837) | 4,571 |
Exposure as at ending of period | 1,135,118 | 1,279,611 |
Stage 1 - Group [Member] | ||
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | 5,512,504 | 5,086,210 |
Net change on exposures | 668,090 | 621,021 |
Transfer to Stage 1 | 1,058,685 | 491,857 |
Transfer to Stage 2 | (593,536) | (561,588) |
Transfer to Stage 3 | (1,970) | (1,928) |
Foreign exchange adjustments | (209,625) | (123,068) |
Exposure as at ending of period | 6,434,148 | 5,512,504 |
Stage 2 - Individual [Member] | ||
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | 178,586 | 147,053 |
Net change on exposures | (50,111) | (5,449) |
Transfer to Stage 1 | (162,453) | (130,926) |
Transfer to Stage 2 | 118,848 | 166,892 |
Transfer to Stage 3 | (365) | (217) |
Foreign exchange adjustments | (1,047) | 1,233 |
Exposure as at ending of period | 83,458 | 178,586 |
Stage 2 - Group [Member] | ||
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | 786,663 | 794,449 |
Net change on exposures | (96,818) | (114,834) |
Transfer to Stage 1 | (1,058,572) | (488,237) |
Transfer to Stage 2 | 598,413 | 563,941 |
Transfer to Stage 3 | (9,938) | (13,476) |
Foreign exchange adjustments | (12,102) | 44,820 |
Exposure as at ending of period | 207,646 | 786,663 |
Stage 3 - Individual [Member] | ||
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | 328 | 411 |
Net change on exposures | (204) | (326) |
Transfer to Stage 1 | (2) | (11) |
Transfer to Stage 2 | (175) | (97) |
Transfer to Stage 3 | 422 | 337 |
Foreign exchange adjustments | (10) | 14 |
Exposure as at ending of period | 359 | 328 |
Stage 3 - Group [Member] | ||
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | 11,633 | 12,690 |
Net change on exposures | (8,651) | (10,615) |
Transfer to Stage 1 | (113) | (3,619) |
Transfer to Stage 2 | (4,877) | (2,353) |
Transfer to Stage 3 | 11,908 | 15,404 |
Foreign exchange adjustments | (369) | 126 |
Exposure as at ending of period | $ 9,531 | $ 11,633 |
Provisions - Undrawn Credit L_2
Provisions - Undrawn Credit Lines - ECL Exposures (Details) - Undrawn credit lines [Member] - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | $ 20,386 | $ 18,971 |
Net change on exposures | 1,598 | (577) |
Transfer to Stage 1 | ||
Transfer to Stage 2 | ||
Transfer to Stage 3 | ||
Impact on year-end ECL of exposures transferred between stages during the year | (580) | 1,554 |
Changes to models and assumptions | (346) | |
Foreign exchange adjustments | (242) | 438 |
Exposure as at ending of period | 20,816 | 20,386 |
Stage 1 - Individual [Member] | ||
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | 1,634 | 937 |
Net change on exposures | (1,229) | 684 |
Transfer to Stage 1 | 88 | 99 |
Transfer to Stage 2 | (113) | (87) |
Transfer to Stage 3 | ||
Impact on year-end ECL of exposures transferred between stages during the year | (35) | (3) |
Changes to models and assumptions | (112) | |
Foreign exchange adjustments | 1 | 4 |
Exposure as at ending of period | 234 | 1,634 |
Stage 1 - Group [Member] | ||
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | 9,123 | 8,071 |
Net change on exposures | 4,832 | 2,796 |
Transfer to Stage 1 | 6,162 | 1,463 |
Transfer to Stage 2 | (6,056) | (3,246) |
Transfer to Stage 3 | (149) | (92) |
Impact on year-end ECL of exposures transferred between stages during the year | (389) | 31 |
Changes to models and assumptions | (269) | |
Foreign exchange adjustments | (119) | 100 |
Exposure as at ending of period | 13,135 | 9,123 |
Stage 2 - Individual [Member] | ||
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | 137 | 147 |
Net change on exposures | 25 | 21 |
Transfer to Stage 1 | (87) | (96) |
Transfer to Stage 2 | 191 | 124 |
Transfer to Stage 3 | (12) | (5) |
Impact on year-end ECL of exposures transferred between stages during the year | (129) | (56) |
Changes to models and assumptions | 63 | |
Foreign exchange adjustments | (3) | 2 |
Exposure as at ending of period | 185 | 137 |
Stage 2 - Group [Member] | ||
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | 4,194 | 4,747 |
Net change on exposures | (1,245) | (2,669) |
Transfer to Stage 1 | (6,141) | (817) |
Transfer to Stage 2 | 7,838 | 3,898 |
Transfer to Stage 3 | (792) | (818) |
Impact on year-end ECL of exposures transferred between stages during the year | (1,116) | (441) |
Changes to models and assumptions | (28) | |
Foreign exchange adjustments | (66) | 294 |
Exposure as at ending of period | 2,644 | 4,194 |
Stage 3 - Individual [Member] | ||
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | ||
Net change on exposures | 63 | 41 |
Transfer to Stage 1 | (1) | (4) |
Transfer to Stage 2 | (78) | (37) |
Transfer to Stage 3 | 12 | 5 |
Impact on year-end ECL of exposures transferred between stages during the year | 83 | (5) |
Changes to models and assumptions | ||
Foreign exchange adjustments | (1) | |
Exposure as at ending of period | 78 | |
Stage 3 - Group [Member] | ||
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | 5,298 | 5,069 |
Net change on exposures | (848) | (1,450) |
Transfer to Stage 1 | (21) | (645) |
Transfer to Stage 2 | (1,782) | (652) |
Transfer to Stage 3 | 941 | 910 |
Impact on year-end ECL of exposures transferred between stages during the year | 1,006 | 2,028 |
Changes to models and assumptions | ||
Foreign exchange adjustments | (54) | 38 |
Exposure as at ending of period | $ 4,540 | $ 5,298 |
Provisions - Maximum exposure_6
Provisions - Maximum exposure to credit risk - Other commitments (Details) - Other commitments [Member] - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure of other provisions [line items] | |||
Normal | $ 155,163 | $ 46,561 | |
Substandard | |||
Non-complying | |||
Total | 155,163 | 46,561 | $ 60,609 |
Stage 1 - Individual [Member] | |||
Disclosure of other provisions [line items] | |||
Normal | 155,163 | 46,561 | |
Substandard | |||
Non-complying | |||
Total | 155,163 | 46,561 | 49,519 |
Stage 1 - Group [Member] | |||
Disclosure of other provisions [line items] | |||
Normal | |||
Substandard | |||
Non-complying | |||
Total | |||
Stage 2 - Individual [Member] | |||
Disclosure of other provisions [line items] | |||
Normal | |||
Substandard | |||
Non-complying | |||
Total | 11,090 | ||
Stage 2 - Group [Member] | |||
Disclosure of other provisions [line items] | |||
Normal | |||
Substandard | |||
Non-complying | |||
Total | |||
Stage 3 - Individual [Member] | |||
Disclosure of other provisions [line items] | |||
Normal | |||
Substandard | |||
Non-complying | |||
Total | |||
Stage 3 - Group [Member] | |||
Disclosure of other provisions [line items] | |||
Normal | |||
Substandard | |||
Non-complying | |||
Total |
Provisions - Other Commitments
Provisions - Other Commitments - Outstanding Exposures (Details) - Other commitments [Member] - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | $ 46,561 | $ 60,609 |
Net change on exposures | 108,602 | (14,048) |
Transfer to Stage 1 | ||
Transfer to Stage 2 | ||
Transfer to Stage 3 | ||
Foreign exchange adjustments | ||
Exposure as at ending of period | 155,163 | 46,561 |
Stage 1 - Individual [Member] | ||
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | 46,561 | 49,519 |
Net change on exposures | 108,602 | (2,958) |
Transfer to Stage 1 | ||
Transfer to Stage 2 | ||
Transfer to Stage 3 | ||
Foreign exchange adjustments | ||
Exposure as at ending of period | 155,163 | 46,561 |
Stage 1 - Group [Member] | ||
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | ||
Net change on exposures | ||
Transfer to Stage 1 | ||
Transfer to Stage 2 | ||
Transfer to Stage 3 | ||
Foreign exchange adjustments | ||
Exposure as at ending of period | ||
Stage 2 - Individual [Member] | ||
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | 11,090 | |
Net change on exposures | (11,090) | |
Transfer to Stage 1 | ||
Transfer to Stage 2 | ||
Transfer to Stage 3 | ||
Foreign exchange adjustments | ||
Exposure as at ending of period | ||
Stage 2 - Group [Member] | ||
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | ||
Net change on exposures | ||
Transfer to Stage 1 | ||
Transfer to Stage 2 | ||
Transfer to Stage 3 | ||
Foreign exchange adjustments | ||
Exposure as at ending of period | ||
Stage 3 - Individual [Member] | ||
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | ||
Net change on exposures | ||
Transfer to Stage 1 | ||
Transfer to Stage 2 | ||
Transfer to Stage 3 | ||
Foreign exchange adjustments | ||
Exposure as at ending of period | ||
Stage 3 - Group [Member] | ||
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | ||
Net change on exposures | ||
Transfer to Stage 1 | ||
Transfer to Stage 2 | ||
Transfer to Stage 3 | ||
Foreign exchange adjustments | ||
Exposure as at ending of period |
Provisions - Other Commitment_2
Provisions - Other Commitments - ECL Exposures (Details) - Other commitments [Member] - CLP ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | ||
Net change on exposures | ||
Transfer to Stage 1 | ||
Transfer to Stage 2 | ||
Transfer to Stage 3 | ||
Impact on year-end ECL of exposures transferred between stages during the year | ||
Changes to models and assumptions | ||
Foreign exchange adjustments | ||
Exposure as at ending of period | ||
Stage 1 - Individual [Member] | ||
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | ||
Net change on exposures | ||
Transfer to Stage 1 | ||
Transfer to Stage 2 | ||
Transfer to Stage 3 | ||
Impact on year-end ECL of exposures transferred between stages during the year | ||
Changes to models and assumptions | ||
Foreign exchange adjustments | ||
Exposure as at ending of period | ||
Stage 1 - Group [Member] | ||
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | ||
Net change on exposures | ||
Transfer to Stage 1 | ||
Transfer to Stage 2 | ||
Transfer to Stage 3 | ||
Impact on year-end ECL of exposures transferred between stages during the year | ||
Changes to models and assumptions | ||
Foreign exchange adjustments | ||
Exposure as at ending of period | ||
Stage 2 - Individual [Member] | ||
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | ||
Net change on exposures | ||
Transfer to Stage 1 | ||
Transfer to Stage 2 | ||
Transfer to Stage 3 | ||
Impact on year-end ECL of exposures transferred between stages during the year | ||
Changes to models and assumptions | ||
Foreign exchange adjustments | ||
Exposure as at ending of period | ||
Stage 2 - Group [Member] | ||
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | ||
Net change on exposures | ||
Transfer to Stage 1 | ||
Transfer to Stage 2 | ||
Transfer to Stage 3 | ||
Impact on year-end ECL of exposures transferred between stages during the year | ||
Changes to models and assumptions | ||
Foreign exchange adjustments | ||
Exposure as at ending of period | ||
Stage 3 - Individual [Member] | ||
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | ||
Net change on exposures | ||
Transfer to Stage 1 | ||
Transfer to Stage 2 | ||
Transfer to Stage 3 | ||
Impact on year-end ECL of exposures transferred between stages during the year | ||
Changes to models and assumptions | ||
Foreign exchange adjustments | ||
Exposure as at ending of period | ||
Stage 3 - Group [Member] | ||
Disclosure of other provisions [line items] | ||
Exposure as at beginning of period | ||
Net change on exposures | ||
Transfer to Stage 1 | ||
Transfer to Stage 2 | ||
Transfer to Stage 3 | ||
Impact on year-end ECL of exposures transferred between stages during the year | ||
Changes to models and assumptions | ||
Foreign exchange adjustments | ||
Exposure as at ending of period |
Employee Benefits (Details)
Employee Benefits (Details) - CLP ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |||
Disclosure of defined benefit plans [line items] | |||||
Short-term personnel benefits (a.2) | $ 51,051 | $ 47,797 | $ 43,372 | ||
Vacation accrual (a.3) | 27,609 | 26,855 | 25,159 | ||
Employee defined benefit plan (a.1) | 7,566 | [1] | 7,754 | [1] | 7,676 |
Other Benefits | 22,849 | 10,173 | |||
Total | 109,075 | 92,579 | |||
Staff Severance Indemnities Plan [Member] | |||||
Disclosure of defined benefit plans [line items] | |||||
Employee defined benefit plan (a.1) | $ 7,676 | ||||
Current service cost | 101 | 250 | |||
Interest cost on benefit obligation | 222 | 300 | |||
Actuarial gains and losses | 247 | 127 | |||
Net benefit expense | $ 570 | $ 677 | |||
Discount rate | 3.17% | 4.25% | |||
Annual salary increase | 4.42% | 4.42% | |||
Payment probability | 99.99% | 99.99% | |||
[1] | See Note No. 2 (x) (iii). |
Employee Benefits - Changes in
Employee Benefits - Changes in the present value defined benefit obligation, incentive plans and vacation (Details) - CLP ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | |||
Changes in present value of defined benefit obligation | ||||
Opening defined benefit obligation, January 1, | $ 7,754 | [1] | $ 7,676 | |
Closing defined benefit obligation | [1] | 7,566 | 7,754 | |
Changes in provisions for incentive plans | ||||
Balances as of January 1, | 47,797 | 43,372 | ||
Provisions established | 45,792 | 40,058 | ||
Provisions used | (42,538) | (35,633) | ||
Provisions released | ||||
Balances as of December 31, | 51,051 | 47,797 | ||
Changes in provisions for vacation | ||||
Balances as of January 1, | 26,855 | 25,159 | ||
Provisions established | 7,257 | 7,529 | ||
Provisions used | (6,503) | (5,833) | ||
Provisions released | ||||
Balances as of December 31, | 27,609 | 26,855 | ||
Staff Severance Indemnities Plan | ||||
Changes in present value of defined benefit obligation | ||||
Opening defined benefit obligation, January 1, | 7,676 | |||
Increase (Decrease) in provision | 323 | 550 | ||
Benefits paid | (758) | (599) | ||
Actuarial gains and losses | $ 247 | 127 | ||
Closing defined benefit obligation | ||||
[1] | See Note No. 2 (x) (iii). |
Other Liabilities (Details)
Other Liabilities (Details) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | |
Miscellaneous liabilities [abstract] | |||
Accounts and notes payable | $ 231,465 | $ 176,826 | |
Securities unliquidated | 134,253 | 106,071 | |
Income received in advance | [1] | 125,418 | 5,743 |
Documents intermediated | [2] | 80,190 | 53,492 |
Cobranding | 30,186 | 36,081 | |
VAT payable | 4,523 | ||
Insurance payments | 1,157 | 992 | |
Outstanding transactions | 792 | 616 | |
Others | 23,683 | 18,984 | |
Total | $ 631,667 | $ 398,805 | |
[1] | On January 28, 2019, Banco de Chile and its subsidiary Banchile Corredores de Seguros Ltda. informed that they have entered into a strategic alliance with the insurance companies Chubb Seguros Chile S.A. and Chubb Seguros de Vida Chile S.A. The framework of the strategic alliance establishes the general terms and conditions pursuant to which the Bank will grant, for a period of 15 years, exclusive access to the Companies to provide insurances to clients via face-to-face and digital channels of the Bank, through Banchile, subject to the exceptions agreed upon by the parties. The aforementioned Agreement included an initial payment on the date of the signing of the contracts, in accordance with the terms and conditions thereof, and annual payments subject to compliance with insurance sales objectives during the agreement lifetime. On June 4, 2019, Banco de Chile received the payment from the Insurance Companies for an amount of Ch$149,061 million, which was recorded according to IFRS 15. The related income is recognized over time, depending on compliance with the associated performance obligation. | ||
[2] | This item mainly includes financing of simultaneous operations performed by subsidiary Banchile Corredores de Bolsa S.A. |
Other Liabilities (Details Text
Other Liabilities (Details Textual) $ in Millions | Jun. 04, 2019CLP ($) |
Other Liabilities (Textual) | |
Cash received | $ 149,061 |
Contingencies and Commitments_2
Contingencies and Commitments (Details) - Off-balance-sheet accounts [Member] - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Statement Line Items [Line Items] | ||
Foreign office guarantees and standby letters of credit | $ 280,838 | $ 341,676 |
Confirmed foreign letters of credit | 94,673 | 56,764 |
Issued foreign letters of credit | 316,916 | 388,396 |
Performance guarantees | 2,283,390 | 2,232,682 |
Undrawn credit lines | 7,870,260 | 7,769,325 |
Other commitments | 155,163 | 46,561 |
Transactions on behalf of third parties | ||
Collections | 144,043 | 160,367 |
Third-party resources managed by the Bank: | ||
Financial assets managed on behalf of third parties | 6,418 | 27,334 |
Other assets managed on behalf of third parties | ||
Financial assets acquired on its own behalf | 73,140 | 103,319 |
Fiduciary activities | ||
Securities held in safe custody in the Bank | 2,677,353 | 2,089,079 |
Securities held in safe custody in other entities | 18,719,297 | 18,624,962 |
Total | $ 32,621,491 | $ 31,840,465 |
Contingencies and Commitments -
Contingencies and Commitments - Lawsuits and legal proceedings (Details) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of contingent liabilities [line items] | ||
Provision for legal contingencies | $ 237 | $ 204 |
2020 [Member] | ||
Disclosure of contingent liabilities [line items] | ||
Provision for legal contingencies | 120 | |
2021 [Member] | ||
Disclosure of contingent liabilities [line items] | ||
Provision for legal contingencies | 117 | |
2022 [Member] | ||
Disclosure of contingent liabilities [line items] | ||
Provision for legal contingencies | ||
2023 [Member] | ||
Disclosure of contingent liabilities [line items] | ||
Provision for legal contingencies |
Contingencies and Commitments_3
Contingencies and Commitments - Guarantees Granted - Banchile Corredores de Bolsa S.A (Details) - Contingent Liability For Guarantees - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Guarantees: | ||
Santiago Securities Exchange, Stock Exchange | $ 85,302 | $ 59,074 |
Electronic Chilean Securities Exchange, Stock Exchange | 6,843 | 17,223 |
Fixed income securities to guarantee CCLV system, Santiago Securities Exchange, Stock Exchange | 7,985 | 5,976 |
Shares delivered to guarantee equity lending, Electronic Chilean Securities Exchange, Stock Exchange | 382 | |
Total | $ 100,512 | $ 82,273 |
Contingencies and Commitments_4
Contingencies and Commitments - Guarantees Granted - Banchile Corredores de Seguros Ltda (Details) - CLF [Member] in Millions | 12 Months Ended |
Dec. 31, 2019CLF ( ) | |
Disclosure of contingent liabilities [line items] | |
Responsibility for errors and omissions policy | 60,000 |
Civil responsibility policy | 500 |
Contingencies and Commitments_5
Contingencies and Commitments (Details Textual) $ in Millions, in Millions | 1 Months Ended | 12 Months Ended | |||
Dec. 10, 2019CLF ( ) | Oct. 30, 2014CLF ( ) | Dec. 31, 2019CLP ($)shares | Dec. 31, 2019CLF ( )shares | Dec. 31, 2018CLP ($) | |
Disclosure of contingent liabilities [line items] | |||||
Provision for legal contingencies | $ | $ 237 | $ 204 | |||
Banchile Corredores De Bolsa S.a [Member] | |||||
Disclosure of contingent liabilities [line items] | |||||
Number of shares in Santiago Stock Exchange pledged | shares | 1,000,000 | 1,000,000 | |||
Number of shares in Electronic Chilean Stock Exchange pledged | shares | 100,000 | 100,000 | |||
Insurance policy guarantee expire date | Jan. 2, 2020 | ||||
Maturity date | Jul. 22, 2020 | ||||
Banchile Corredores De Bolsa S.a [Member] | USD [Member] | |||||
Disclosure of contingent liabilities [line items] | |||||
Insurance policy coverage | $ | $ 10,000,000 | ||||
Cash guarantee to Pershing | $122,494.32 | ||||
Banchile Corredores De Bolsa S.a [Member] | CLF [Member] | |||||
Disclosure of contingent liabilities [line items] | |||||
Guarantee for complying with contracts of SOMA | 10,500 | ||||
Fine imposed | 7,500 | 50,000 | |||
Banchile Corredores De Bolsa S.a [Member] | CLF [Member] | Fixed Income Tender Process [Member] | |||||
Disclosure of contingent liabilities [line items] | |||||
Bank guarantees issued | 500 | ||||
Banchile Corredores De Bolsa S.a [Member] | CLF [Member] | Variable Income Tender Process [Member] | |||||
Disclosure of contingent liabilities [line items] | |||||
Bank guarantees issued | 500 | ||||
Banchile Administradora General De Fondos S.a | |||||
Disclosure of contingent liabilities [line items] | |||||
Bank guarantees issued | 3,090,000 | ||||
Bank guarantee for benefit of investors in portfolio management | 401,800 | ||||
Policy for guaranteed amount for Real State Funds | 755,800 | ||||
Maturity date | Jan. 10, 2020 | ||||
Banchile Corredores De Bolsa S.a | |||||
Disclosure of contingent liabilities [line items] | |||||
Insurance policy guarantee | 20,000 | ||||
Maturity date | Apr. 22, 2020 | ||||
Bank Guarantee By Maturity Date Three | Banchile Corredores De Bolsa S.a [Member] | CLF [Member] | |||||
Disclosure of contingent liabilities [line items] | |||||
Bank guarantees issued | 251,400 | ||||
Bank Guarantee By Maturity Date Two [Member] | Banchile Administradora General De Fondos S.a | |||||
Disclosure of contingent liabilities [line items] | |||||
Bank guarantees issued | $ | $ 2,977,300 |
Equity (Details)
Equity (Details) - shares | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Share movements | |||
Total shares at the beginning | 101,017,081,114 | 99,444,132,192 | |
Capitalization of retained earnings | 1,819,784,762 | 1,572,948,922 | 1,819,784,762 |
Total shares at the end | 101,017,081,114 | 99,444,132,192 |
Equity - Shareholders' composit
Equity - Shareholders' composition (Details) - shares | Dec. 31, 2019 | Dec. 31, 2018 |
Shareholders' composition: | ||
Number of shares | 101,017,081,114 | 101,017,081,114 |
% of Equity Holding (in percentage) | 100.00% | 100.00% |
Sociedad Administradora de la Obligación Subordinada SAOS S.A. [Member] | ||
Shareholders' composition: | ||
Number of shares | 28,593,701,789 | |
% of Equity Holding (in percentage) | 28.31% | |
LQ Inversiones Financieras S.A. [Member] | ||
Shareholders' composition: | ||
Number of shares | 46,815,289,329 | 27,460,203,382 |
% of Equity Holding (in percentage) | 46.34% | 27.18% |
Sociedad Matriz del Banco de Chile S.A. [Member] | ||
Shareholders' composition: | ||
Number of shares | 12,138,573,251 | |
% of Equity Holding (in percentage) | 12.02% | |
Other minority shareholders [Member] | ||
Shareholders' composition: | ||
Number of shares | 43,638,381,510 | 32,824,602,692 |
% of Equity Holding (in percentage) | 43.20% | 32.49% |
Banchile Corredores De Bolsa S.a [Member] | ||
Shareholders' composition: | ||
Number of shares | 5,708,422,261 | |
% of Equity Holding (in percentage) | 5.65% | |
Inversiones LQ-SM Limitada [Member] | ||
Shareholders' composition: | ||
Number of shares | 4,854,988,014 | |
% of Equity Holding (in percentage) | 4.81% |
Equity - Dividend (Details)
Equity - Dividend (Details) - CLP ($) $ / shares in Units, $ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
Approval and payment of dividends: | ||||
Dividends on ordinary shares | [1] | $ 356,311 | $ 374,079 | $ 342,034 |
Dividends per ordinary share | [2] | $ 3.53 | $ 3.76 | $ 3.50 |
[1] | This dividend per share is composed of the dividend paid to the Central Bank and common shareholders in the amounts of MCh$90,733 and MCh$265,578, respectively. On April 30, 2019, was paid the last installment of subordinated debt to the Central Bank. | |||
[2] | Dividends per share are calculated by dividing the amount of the dividend paid during each year by the previous year's number of shares outstanding. |
Equity - Earnings per share (De
Equity - Earnings per share (Details) - CLP ($) $ / shares in Units, $ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
Basic and diluted earnings per share | ||||
Net profits attributable to ordinary equity holders of the Bank | $ 603,744 | $ 603,633 | $ 572,080 | |
Weighted average number of ordinary shares | [1] | 101,017,081,114 | 101,017,081,114 | 101,017,081,114 |
Earnings per share | $ 5.98 | $ 5.98 | $ 5.66 | |
[1] | During 2017 and 2018, the Bank capitalized 1,819,784,762, and 1,572,948,922 shares respectively, which are considered in the earnings per share calculation as if they had been outstanding during all periods presented. . |
Equity (Details Textual)
Equity (Details Textual) - CLP ($) $ / shares in Units, $ in Millions | 1 Months Ended | 12 Months Ended | ||||
Mar. 28, 2019 | Mar. 22, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
Equity (Textual) | ||||||
Number of registered shares | 101,017,081,114 | 101,017,081,114 | ||||
Capitalization of net income (in percentage) | 30.00% | |||||
Capitalization of retained earnings | 1,819,784,762 | 1,572,948,922 | 1,819,784,762 | |||
Dividends per ordinary share | [1] | $ 3.53 | $ 3.76 | $ 3.50 | ||
Dividends on ordinary shares | [2] | $ 356,311 | $ 374,079 | $ 342,034 | ||
Equity provisions for minimum dividend | 177,902 | 178,462 | ||||
Fair market value adjustment for available-for-sale instruments | 11,641 | (10,121) | ||||
Cash Flow hedge | (27,408) | $ (22,589) | $ 11,158 | |||
Equivalent | 152,705 | |||||
Common Shareholders [Member] | ||||||
Equity (Textual) | ||||||
Dividends per ordinary share | $ 3.52723589646 | $ 3.14655951692 | ||||
Dividends on ordinary shares | $ 356,311 | $ 374,079 | 265,578 | |||
Central Bank [Member] | ||||||
Equity (Textual) | ||||||
Dividends on ordinary shares | $ 90,733 | |||||
[1] | Dividends per share are calculated by dividing the amount of the dividend paid during each year by the previous year's number of shares outstanding. | |||||
[2] | This dividend per share is composed of the dividend paid to the Central Bank and common shareholders in the amounts of MCh$90,733 and MCh$265,578, respectively. On April 30, 2019, was paid the last installment of subordinated debt to the Central Bank. |
Interest Revenue and Expenses_2
Interest Revenue and Expenses (Details) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Interest revenue | |||
Commercial loans | $ 910,229 | $ 851,328 | $ 786,794 |
Consumer loans | 638,198 | 613,293 | 614,393 |
Residential mortgage loans | 532,009 | 502,832 | 401,862 |
Financial investments | 45,294 | 52,909 | 35,403 |
Repurchase agreements | 2,480 | 2,767 | 7,337 |
Loans and advances to banks | 27,457 | 24,138 | 15,024 |
Gain (loss) from accounting hedges | (59,874) | (58,560) | 20,722 |
Other interest revenue | 17,755 | 11,910 | 5,165 |
Total | 2,113,548 | 2,000,617 | 1,886,700 |
Interest expenses | |||
Savings accounts and time deposits | 313,142 | 301,251 | 297,277 |
Debt issued | 386,015 | 352,351 | 268,203 |
Other financial obligations | 918 | 1,482 | 1,640 |
Repurchase agreements | 7,048 | 8,901 | 5,193 |
Borrowings from financial institutions | 43,570 | 29,275 | 19,255 |
(Gain) loss from accounting hedges | (25,888) | (23,694) | 54,834 |
Demand deposits | 14,408 | 9,380 | 5,350 |
Lease liabilities | 2,574 | ||
Other interest expenses | 483 | 694 | 253 |
Total | 742,270 | 679,640 | 652,005 |
Loss from accounting hedge | |||
Cash Flow hedge | (28,690) | (33,031) | (29,477) |
Fair value hedge | (5,296) | (1,835) | (4,635) |
Total | $ (33,986) | $ (34,866) | $ (34,112) |
Interest Revenue and Expenses_3
Interest Revenue and Expenses (Details Textual) - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Interest Revenue and Expenses (Textual) | ||
Interest received basis for impaired portfolio | $ 4,415 | $ 5,113 |
Income and Expenses from Fees_3
Income and Expenses from Fees and Commissions (Details) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Income from fees and commissions | |||
Debit and credit card services | $ 185,878 | $ 167,201 | $ 155,572 |
Investments in mutual funds and others | 101,046 | 91,173 | 86,103 |
Use of distribution channel and access to customers | 65,243 | 20,974 | 18,204 |
Collections and payments | 56,389 | 52,717 | 50,343 |
Portfolio management | 47,816 | 46,730 | 43,915 |
Fees for insurance transactions | 37,035 | 32,886 | 30,163 |
Guarantees and letter of credit | 26,101 | 25,021 | 24,485 |
Trading and securities management | 21,878 | 24,632 | 18,741 |
Brand use agreement | 16,494 | 14,840 | 14,515 |
Lines of credit and overdrafts | 4,716 | 4,837 | 5,000 |
Financial advisory services | 4,393 | 5,046 | 5,536 |
Other fees earned | 22,183 | 19,057 | 19,125 |
Total income from fees and commissions | 589,172 | 505,114 | 471,702 |
Expenses from fees and commissions | |||
Credit card transactions | (97,823) | (113,403) | (96,872) |
Interbank transactions | (20,133) | (16,554) | (13,189) |
Collections and payments | (6,284) | (6,546) | (6,206) |
Securities transactions | (5,943) | (7,544) | (6,802) |
Sales force | (404) | (258) | (213) |
Other fees | (1,283) | (854) | (746) |
Total expenses from fees and commissions | $ 131,870 | $ 145,159 | $ 124,028 |
Net Financial Operating Incom_2
Net Financial Operating Income (Details) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Net Financial Operating Income [abstract] | |||
Net income on financial assets held-for-trading | $ 44,274 | $ 42,605 | $ 46,207 |
Gain (loss) from mark to market | 32,128 | 8,038 | 4,435 |
Financial assets held-for-trading | 76,402 | 50,643 | 50,642 |
Sale of financial assets at fair value through other comprehensive income | 4,789 | 1,118 | 6,514 |
Sale of loan portfolio | 267 | 2,063 | |
Net (loss) gain of other transactions | (145) | 384 | 233 |
Derivative instruments | 32,391 | 64,730 | (89,113) |
Total | $ 113,437 | $ 117,142 | $ (29,661) |
Foreign Exchange Transactions_3
Foreign Exchange Transactions, Net (Details) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Foreign Exchange Transactions, Net [abstract] | |||
Gain (loss) from accounting hedges | $ 113,374 | $ 118,690 | $ (64,135) |
Exchange difference, net | 6,284 | 9,609 | (7,221) |
Indexed foreign currency | (88,772) | (125,598) | 176,231 |
Total | $ 30,886 | $ 2,701 | $ 104,875 |
New Accounting Pronouncements -
New Accounting Pronouncements - IFRS 9 Financial Instruments, Transition impact (Details) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
New Accounting Pronouncements [abstract] | ||
Right-of-use-asset | $ 150,665 | |
Lease liability | $ 146,013 |
Provisions for Loan Losses (Det
Provisions for Loan Losses (Details) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Provisions established: | |||
Individual provisions | $ (20,611) | $ (2,608) | $ (5) |
Group provisions | (362,619) | (310,492) | (303,139) |
Provisions established net | (383,230) | (313,100) | (303,144) |
Provisions released: | |||
Individual provisions | 3,654 | 2,423 | 32,412 |
Group provisions | 327 | ||
Provisions released net | 3,654 | 2,750 | 32,412 |
Recovery of written-off assets | 47,975 | 60,579 | 49,477 |
Provisions net allowances for credit risk | (331,601) | (249,771) | (221,255) |
Loans and advances to banks, net | |||
Provisions established: | |||
Individual provisions | (240) | (5) | |
Group provisions | |||
Provisions established net | (240) | (5) | |
Provisions released: | |||
Individual provisions | 902 | ||
Group provisions | |||
Provisions released net | 902 | ||
Recovery of written-off assets | |||
Provisions net allowances for credit risk | 902 | (240) | (5) |
Loans to customer and loans and advances to banks Consolidated Statement of Cash Flow | |||
Allowances established of loans to customer | (377,055) | (310,732) | (300,013) |
Allowances released of loans to customer | 902 | 871 | 28,571 |
Total allowances of loans to customer | (376,153) | (309,861) | (271,442) |
Commercial loans | |||
Provisions established: | |||
Individual provisions | (17,143) | ||
Group provisions | (64,492) | (61,702) | (47,837) |
Provisions established net | (81,635) | (61,702) | (47,837) |
Provisions released: | |||
Individual provisions | 871 | 28,571 | |
Group provisions | |||
Provisions released net | 871 | 28,571 | |
Recovery of written-off assets | 12,253 | 13,579 | 13,750 |
Provisions net allowances for credit risk | (69,382) | (47,252) | (5,516) |
Mortgage loans | |||
Provisions established: | |||
Individual provisions | |||
Group provisions | (17,168) | (7,546) | (4,361) |
Provisions established net | (17,168) | (7,546) | (4,361) |
Provisions released: | |||
Individual provisions | |||
Group provisions | |||
Provisions released net | |||
Recovery of written-off assets | 5,114 | 4,572 | 3,246 |
Provisions net allowances for credit risk | (12,054) | (2,974) | (1,115) |
Consumer loans | |||
Provisions established: | |||
Individual provisions | |||
Group provisions | (278,252) | (241,244) | (247,810) |
Provisions established net | (278,252) | (241,244) | (247,810) |
Provisions released: | |||
Individual provisions | |||
Group provisions | |||
Provisions released net | |||
Recovery of written-off assets | 30,608 | 42,428 | 32,481 |
Provisions net allowances for credit risk | (247,644) | (198,816) | (215,329) |
Total Loans to customers | |||
Provisions established: | |||
Individual provisions | (17,143) | ||
Group provisions | (359,912) | (310,492) | (300,008) |
Provisions established net | (377,055) | (310,492) | (300,008) |
Provisions released: | |||
Individual provisions | 871 | 28,571 | |
Group provisions | |||
Provisions released net | 871 | 28,571 | |
Recovery of written-off assets | 47,975 | 60,579 | 49,477 |
Provisions net allowances for credit risk | (329,080) | (249,042) | (221,960) |
Debt Instruments at fair value Through OCI [Member] | |||
Provisions established: | |||
Individual provisions | (3,468) | ||
Group provisions | |||
Provisions established net | (3,468) | ||
Provisions released: | |||
Individual provisions | 1,552 | ||
Group provisions | |||
Provisions released net | 1,552 | ||
Recovery of written-off assets | |||
Provisions net allowances for credit risk | (3,468) | 1,552 | |
Provisions for contingent loan risks | |||
Provisions established: | |||
Individual provisions | (2,368) | ||
Group provisions | (2,707) | (3,131) | |
Provisions established net | (2,707) | (2,368) | (3,131) |
Provisions released: | |||
Individual provisions | 2,752 | 3,841 | |
Group provisions | 327 | ||
Provisions released net | 2,752 | 327 | 3,841 |
Recovery of written-off assets | |||
Provisions net allowances for credit risk | $ 45 | $ (2,041) | $ 710 |
Personnel Expenses (Details)
Personnel Expenses (Details) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Classes of employee benefits expense [abstract] | |||
Remuneration | $ 254,886 | $ 244,919 | $ 235,765 |
Bonuses and incentives | 71,028 | 62,675 | 42,465 |
Variable Compensation | 37,281 | 36,901 | 36,471 |
Lunch and health benefits | 27,618 | 26,698 | 26,836 |
Gratifications | 27,889 | 26,275 | 25,402 |
Staff severance indemnities | 35,100 | 19,941 | 21,241 |
Training expenses | 3,626 | 3,909 | 3,555 |
Other personnel expenses | 18,171 | 19,312 | 17,596 |
Total | $ 475,599 | $ 440,630 | $ 409,331 |
Administrative Expenses (Detail
Administrative Expenses (Details) - CLP ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
General administrative expenses | ||||
Information technology and communications | $ 92,264 | $ 79,300 | $ 69,933 | |
Maintenance and repair of property and equipment | 50,297 | 36,716 | 35,044 | |
External advisory services and professional services fees | 21,099 | 16,690 | 11,514 | |
Surveillance and securities transport services | 11,533 | 11,828 | 11,927 | |
Office supplies | 9,366 | 8,535 | 8,238 | |
Insurance premiums | 5,851 | 5,286 | 5,797 | |
Expenses for short-term leases and low value | [1] | 5,801 | ||
Energy, heating and other utilities | 5,697 | 5,676 | 5,674 | |
External service of financial information | 5,461 | 4,787 | 4,510 | |
Postal box, mail , postage and home delivery services | 5,131 | 6,045 | 5,343 | |
Legal and notary expenses | 3,996 | 4,398 | 3,913 | |
Representation and travel expenses | 3,657 | 3,763 | 4,040 | |
External service of custody of documentation | 3,315 | 3,088 | 3,218 | |
Other expenses of obligations for lease agreements | [1] | 2,797 | ||
Donations | 2,238 | 1,982 | 2,538 | |
Office rental and equipment and ATM | [1] | 34,773 | 33,017 | |
Other general administrative expenses | 5,227 | 8,591 | 6,905 | |
Subtotal | 233,730 | 231,458 | 211,611 | |
Outsource services | ||||
Credit pre-evaluation | 19,159 | 21,952 | 19,577 | |
Data processing | 10,129 | 8,562 | 12,330 | |
External technological developments expenses | 9,459 | 9,984 | 10,418 | |
Certification and technology testing | 7,460 | 6,823 | 6,532 | |
Other | 3,470 | 3,577 | 3,092 | |
Subtotal | 49,677 | 50,898 | 51,949 | |
Board expenses | ||||
Board of Directors Compensation | 2,509 | 2,511 | 2,505 | |
Other Board expenses | 194 | 298 | 458 | |
Subtotal | 2,703 | 2,809 | 2,955 | |
Marketing expenses | ||||
Advertising | 27,808 | 31,375 | 30,698 | |
Subtotal | 27,808 | 31,375 | 30,698 | |
Taxes, payroll taxes and contributions | ||||
Contribution to the banking regulator | 10,285 | 9,548 | 9,176 | |
Real estate contributions | 2,856 | 2,823 | 2,722 | |
Patents | 1,209 | 1,243 | 1,241 | |
Other taxes | 1,437 | 1,323 | 1,103 | |
Subtotal | 15,787 | 14,937 | 14,242 | |
Total | $ 329,705 | $ 331,477 | $ 311,455 | |
[1] | See Note No. 4 Adoption of IFRS 16 "Leases". |
Depreciation, Amortization an_3
Depreciation, Amortization and Impairment (Details) - CLP ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
Depreciation and amortization | ||||
Depreciation of property and equipment (Note No.16a and Note No. 17) | $ 29,194 | $ 27,185 | $ 26,176 | |
Depreciation of rights over leased assets (Note No. 15(d)) | [1] | 28,472 | ||
Amortization of intangibles assets (Note No.14(b)) | 12,875 | 10,496 | 11,360 | |
Total | 70,541 | 37,681 | 37,536 | |
Impairment loss | ||||
Impairment loss on property and equipment (Note No.15(b)) | 2,018 | 334 | 166 | |
Impairment loss on intangibles assets (Note No.14(b)) | 350 | |||
Impairment of rights over leased assets (Note No. 15(d)) | 187 | |||
Total | $ 2,555 | $ 334 | $ 166 | |
[1] | See Note No. 4 "Changes in Accounting policies and Disclosures". |
Other Operating Income (Details
Other Operating Income (Details) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Income for assets received in lieu of payment | |||
Income from sale of assets received in lieu of payment | $ 2,560 | $ 3,650 | $ 1,941 |
Other income | 40 | 56 | 37 |
Subtotal | 2,600 | 3,706 | 1,978 |
Release of provisions for contingencies | |||
Other provisions for contingencies | 7,526 | 160 | |
Subtotal | 7,526 | 160 | |
Other income | |||
Expense recovery | 9,002 | 4,218 | 4,372 |
Rental income | 8,387 | 9,013 | 8,863 |
Credit card income | 4,037 | 2,504 | 7,690 |
Recovery from correspondent banks | 2,816 | 2,591 | 2,710 |
Revaluation of prepaid monthly payments | 1,731 | 1,224 | 843 |
Income from sale leased assets | 1,166 | 2,586 | 1,360 |
Others | 2,576 | 11,927 | 1,983 |
Subtotal | 29,715 | 34,063 | 27,821 |
Total | $ 32,315 | $ 45,295 | $ 29,959 |
Other Operating Expenses (Detai
Other Operating Expenses (Details) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Provisions and expenses for assets received in lieu of payment | |||
Provisions for assets received in lieu of payment | $ 3,246 | $ 3,930 | $ 2,307 |
Expenses to maintain assets received in lieu of payment | 1,225 | 1,749 | 791 |
Subtotal | 4,471 | 5,679 | 3,098 |
Provisions for contingencies | |||
Country risk provisions | |||
Other provisions | 33 | 3 | |
Subtotal | 33 | 3 | |
Other expenses | |||
Write-offs for operating risks | 5,561 | 11,378 | 6,360 |
Leasings operational expenses | 5,111 | 4,504 | 10,152 |
Card administration | 2,490 | 2,640 | 2,890 |
Correspondent banks | 1,569 | 882 | 857 |
Expenses for leased assets recoveries | 1,072 | 2,287 | 1,115 |
Others | 3,543 | 2,213 | 1,396 |
Subtotal | 19,346 | 23,904 | 22,770 |
Total | $ 23,850 | $ 29,586 | $ 25,868 |
Related Party Transactions (Det
Related Party Transactions (Details) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | |
Production and Services Companies | |||
Minimum participation to be related parties" 5% of shares | |||
Gross loans | [1] | $ 174,370 | $ 221,351 |
Allowance for loan losses | [1] | (782) | (962) |
Net loans | [1] | 173,588 | 220,389 |
Contingent loans: | |||
Guarantees and sureties | [1] | 5,531 | 5,102 |
Letters of credits | [1] | 2,365 | 5,310 |
Foreign letters of credits | [1] | ||
Bank guarantees | [1] | 32,650 | 45,842 |
Undrawn credit lines | [1] | 52,916 | 58,041 |
Other contingencies loans | [1] | ||
Total contingent loans | [1] | 93,462 | 114,295 |
Provision for contingencies loans | [1] | (214) | (258) |
Contingent loans, net | [1] | 93,248 | 114,037 |
Amount covered by guarantee: | |||
Mortgage | [1] | 30,807 | 28,208 |
Warrant | [1] | ||
Pledge | [1] | ||
Others | [1],[2] | 37,794 | 47,135 |
Net collateral | [1] | 68,601 | 75,343 |
Production and Services Companies | Commercial loans | |||
Minimum participation to be related parties" 5% of shares | |||
Gross loans | [1] | 174,370 | 221,351 |
Investment Companies | |||
Minimum participation to be related parties" 5% of shares | |||
Gross loans | [3] | 130,237 | 132,366 |
Allowance for loan losses | [3] | (243) | (242) |
Net loans | [3] | 129,994 | 132,124 |
Contingent loans: | |||
Guarantees and sureties | [3] | 9,470 | 14,963 |
Letters of credits | [3] | 328 | 2,776 |
Foreign letters of credits | [3] | ||
Bank guarantees | [3] | 43,478 | 30,122 |
Undrawn credit lines | [3] | 14,364 | 14,674 |
Other contingencies loans | [3] | ||
Total contingent loans | [3] | 67,640 | 62,535 |
Provision for contingencies loans | [3] | (52) | (99) |
Contingent loans, net | [3] | 67,588 | 62,436 |
Amount covered by guarantee: | |||
Mortgage | [3] | 57,456 | 52,108 |
Warrant | [3] | ||
Pledge | [3] | ||
Others | [2],[3] | 12,921 | 13,219 |
Net collateral | [3] | 70,377 | 65,327 |
Investment Companies | Commercial loans | |||
Minimum participation to be related parties" 5% of shares | |||
Gross loans | [3] | 130,237 | 132,366 |
Individuals | |||
Minimum participation to be related parties" 5% of shares | |||
Gross loans | [4] | 81,902 | 68,013 |
Allowance for loan losses | [4] | (889) | (379) |
Net loans | [4] | 81,013 | 67,634 |
Contingent loans: | |||
Guarantees and sureties | [4] | ||
Letters of credits | [4] | ||
Foreign letters of credits | [4] | ||
Bank guarantees | [4] | 57 | |
Undrawn credit lines | [4] | 21,519 | 19,160 |
Other contingencies loans | [4] | ||
Total contingent loans | [4] | 21,576 | 19,160 |
Provision for contingencies loans | [4] | (37) | (30) |
Contingent loans, net | [4] | 21,539 | 19,130 |
Amount covered by guarantee: | |||
Mortgage | [4] | 69,165 | 69,292 |
Warrant | [4] | ||
Pledge | [4] | ||
Others | [2],[4] | 5,250 | 3,694 |
Net collateral | [4] | 74,415 | 72,986 |
Individuals | Commercial loans | |||
Minimum participation to be related parties" 5% of shares | |||
Gross loans | [4] | 13,563 | 13,183 |
Individuals | Residential mortgage loans | |||
Minimum participation to be related parties" 5% of shares | |||
Gross loans | [4] | 58,477 | 44,756 |
Individuals | Consumer loans | |||
Minimum participation to be related parties" 5% of shares | |||
Gross loans | [4] | 9,862 | 10,074 |
Related parties | |||
Minimum participation to be related parties" 5% of shares | |||
Gross loans | 386,509 | 421,730 | |
Allowance for loan losses | (1,914) | (1,583) | |
Net loans | 384,595 | 420,147 | |
Contingent loans: | |||
Guarantees and sureties | 15,001 | 20,065 | |
Letters of credits | 2,693 | 8,086 | |
Foreign letters of credits | |||
Bank guarantees | 76,185 | 75,964 | |
Undrawn credit lines | 88,799 | 91,875 | |
Other contingencies loans | |||
Total contingent loans | 182,678 | 195,990 | |
Provision for contingencies loans | (303) | (387) | |
Contingent loans, net | 182,375 | 195,603 | |
Amount covered by guarantee: | |||
Mortgage | 157,428 | 149,608 | |
Warrant | |||
Pledge | |||
Others | [2] | 55,965 | 64,048 |
Net collateral | 213,393 | 213,656 | |
Related parties | Commercial loans | |||
Minimum participation to be related parties" 5% of shares | |||
Gross loans | 318,170 | 366,900 | |
Related parties | Residential mortgage loans | |||
Minimum participation to be related parties" 5% of shares | |||
Gross loans | 44,756 | ||
Related parties | Consumer loans | |||
Minimum participation to be related parties" 5% of shares | |||
Gross loans | $ 10,074 | ||
[1] | For these effects are considered productive companies, those that meet the following conditions: (i) They engage in operating activities and generate a separable flow of income; (ii) Less than 50% of their assets are trading securities or investments.Service companies are considered entities whose main purpose is oriented to rendering services to third parties. | ||
[2] | These guarantees correspond mainly to shares and other financial guarantees. | ||
[3] | Investment companies include those legal entities that do not comply with the conditions for operating companies and are profit-oriented. | ||
[4] | Individuals include key members of the management and correspond to those who directly or indirectly have authority and responsibility for planning, administrating and controlling the activities of the organization, including directors. This category also includes their family members who influence or are influenced by such individuals in their interactions with the organization. |
Related Party Transactions (Oth
Related Party Transactions (Other assets and liabilities, Income and expenses with related parties) (Details) - CLP ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
Assets | ||||
Cash and due from banks | $ 99,802 | $ 23,086 | ||
Transactions in the course of collection | 63,969 | 35,469 | ||
Financial assets held-for-trading | 880 | 205 | ||
Derivative instruments | 495,378 | 415,683 | ||
Investment instruments | 12,141 | 14,690 | ||
Other assets | 76,548 | 80,569 | ||
Total | 748,718 | 569,702 | ||
Liabilities | ||||
Demand deposits | 227,377 | 169,607 | ||
Transactions in the course of payment | 16,202 | 58,987 | ||
Obligations under repurchase agreements | 54,030 | 84,465 | ||
Savings accounts and time deposits | 396,028 | 219,322 | ||
Derivative instruments | 432,669 | 337,299 | ||
Borrowings from financial institutions | 292,172 | 228,269 | ||
Lease liabilities | 5,138 | |||
Other liabilities | 151,335 | 115,145 | ||
Total | 1,574,951 | 1,213,094 | ||
Type of income or expense recognized | ||||
Interest and revenue income | 19,039 | 21,736 | $ 26,485 | |
Interest and revenue expense | 2,619 | 7,196 | 9,332 | |
Fees and commission income | 72,931 | 70,286 | 65,995 | |
Fees and commission expense | 65,383 | 74,205 | 69,843 | |
Derivative instruments income | [1] | 124,967 | 85,500 | 33,540 |
Derivative instruments expense | [1] | 73,252 | 42,365 | 97,416 |
Other financial operations income | 87 | 1 | ||
Other financial operations expenses | 119 | |||
Release or established of provision for credit risk expense | 106 | 34 | 252 | |
Operating expenses | 120,559 | 105,734 | 100,389 | |
Other income | 542 | 446 | 3,723 | |
Other expense | $ 26 | $ 45 | $ 56 | |
[1] | The outcome of derivative operations is presented net at each related counterparty level. Additionally, this line includes operations with local counterpart banks (unrelated) which have been novated by Comder Contraparte Central S.A. (Related entity) for centralized clearing purposes, which generated a net gain of Ch$123,461 million as of December 31, 2019 (net gain of Ch$71,297 million as of December 31, 2018 and net loss of Ch$96,075 as of December 31, 2017). |
Related Party Transactions (Pay
Related Party Transactions (Payment to key management personnel) (Details) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019CLP ($)Segment | Dec. 31, 2018CLP ($)Segment | Dec. 31, 2017CLP ($)Segment | |
Disclosure of transactions between related parties [line items] | |||
Personnel remunerations | $ | $ 4,148 | $ 3,926 | $ 4,149 |
Short-term benefits | $ | 3,255 | 3,476 | 3,302 |
Severance pay | $ | 1,264 | 1,037 | 276 |
Directors' remunerations and fees | $ | 2,509 | 2,511 | 2,505 |
Total | $ | $ 11,176 | $ 10,950 | $ 10,232 |
Total number of executives | Segment | 41 | 40 | 19 |
CEO | |||
Disclosure of transactions between related parties [line items] | |||
Total number of executives | Segment | 1 | 1 | |
CEOs of subsidiaries | |||
Disclosure of transactions between related parties [line items] | |||
Total number of executives | Segment | 6 | 6 | |
Division Managers | |||
Disclosure of transactions between related parties [line items] | |||
Total number of executives | Segment | 13 | 13 | |
Directors Bank and subsidiaries | |||
Disclosure of transactions between related parties [line items] | |||
Total number of executives | Segment | 21 | 20 |
Related Party Transactions (D_2
Related Party Transactions (Details Textual) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Related Party Transactions (Textual) | |||
Maximum % of assets held as trading securities or investments by production companies | 50.00% | ||
Fees paid for advisory services | $ 90 | $ 206 | $ 334 |
Travel and other related expenses | 104 | 92 | 116 |
Banchile Corredores de Seguros Ltda. | |||
Related Party Transactions (Textual) | |||
Fees for attending Committees and Subsidiary Board meetings | 13 | 12 | 18 |
Comder Contraparte Central S.a | |||
Related Party Transactions (Textual) | |||
Net gain | $ 123,461 | $ 71,297 | $ 96,075 |
Fair Value of Financial Asset_3
Fair Value of Financial Assets and Liabilities-Level hierarchy classification and figures (Details) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | ||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial Liabilities | $ 1,528,234 | |||
Derivative contracts for trading purposes [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial Assets | $ 2,724,621 | 1,478,533 | ||
Financial Liabilities | 2,774,692 | 1,490,252 | ||
Fair value hedge [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial Assets | 32 | 1,116 | ||
Financial Liabilities | 9,286 | 6,164 | ||
Cash Flow hedge [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial Assets | 61,562 | 34,298 | ||
Financial Liabilities | 34,443 | 31,818 | ||
Hedge derivative contracts [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial Assets | 61,594 | 35,414 | ||
Financial Liabilities | 43,729 | 37,982 | ||
Level 2 [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial Liabilities | 2,818,421 | 1,528,234 | ||
Level 2 [Member] | Derivative contracts for trading purposes [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial Assets | 2,724,621 | 1,478,533 | ||
Financial Liabilities | 2,774,692 | 1,490,252 | ||
Level 2 [Member] | Fair value hedge [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial Assets | 32 | 1,116 | ||
Financial Liabilities | 9,286 | 6,164 | ||
Level 2 [Member] | Cash Flow hedge [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial Assets | 61,562 | 34,298 | ||
Financial Liabilities | 34,443 | 31,818 | ||
Level 2 [Member] | Hedge derivative contracts [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial Assets | 61,594 | 35,414 | ||
Financial Liabilities | 43,729 | 37,982 | ||
Level 3 [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial Assets | 62,259 | 43,976 | ||
Level 1 [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial Liabilities | ||||
Financial assets at fair value through other comprehensive income [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial Assets | 1,366,343 | 1,053,191 | ||
Financial assets at fair value through other comprehensive income [Member] | Level 2 [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial Assets | 1,291,270 | 930,226 | ||
Financial assets at fair value through other comprehensive income [Member] | Level 3 [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial Assets | 7,165 | 23,110 | ||
Financial assets at fair value through other comprehensive income [Member] | Level 1 [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial Assets | 67,908 | 99,855 | ||
Put options [Member] | Derivative contracts for trading purposes [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial Assets | 1,076 | 120 | ||
Financial Liabilities | 2,209 | 1,534 | ||
Put options [Member] | Level 2 [Member] | Derivative contracts for trading purposes [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial Assets | 1,076 | 120 | ||
Financial Liabilities | 2,209 | 1,534 | ||
Financial assets held-for-trading [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial Assets | 1,872,355 | 1,745,366 | ||
Financial assets held-for-trading [Member] | Level 2 [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial Assets | 1,347,628 | 1,451,858 | ||
Financial assets held-for-trading [Member] | Level 3 [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial Assets | 55,094 | 20,866 | ||
Financial assets held-for-trading [Member] | Level 1 [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial Assets | 469,633 | 272,642 | ||
Financial assets held-for-trading [Member] | Other instruments issued in Chile [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial Assets | 375,337 | 129,607 | ||
Financial assets held-for-trading [Member] | Other instruments issued in Chile [Member] | Level 2 [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial Assets | 316,971 | 107,078 | ||
Financial assets held-for-trading [Member] | Other instruments issued in Chile [Member] | Level 3 [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial Assets | 55,094 | 20,866 | ||
Financial assets held-for-trading [Member] | Other instruments issued in Chile [Member] | Level 1 [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial Assets | 3,272 | 1,663 | ||
Financial assets held-for-trading [Member] | Instruments issued by the Chilean Governments and Central Bank of Chile [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial Assets | 1,123,689 | 4,446 | ||
Financial assets held-for-trading [Member] | Instruments issued by the Chilean Governments and Central Bank of Chile [Member] | Level 1 [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial Assets | 4,446 | |||
Financial assets held-for-trading [Member] | Instruments issued by the Chilean Governments and Central Bank of Chile [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial Assets | 1,523,472 | |||
Financial assets held-for-trading [Member] | Instruments issued by the Chilean Governments and Central Bank of Chile [Member] | Level 2 [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial Assets | 1,030,657 | 1,344,780 | ||
Financial assets held-for-trading [Member] | Instruments issued by the Chilean Governments and Central Bank of Chile [Member] | Level 1 [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial Assets | 93,032 | 178,692 | ||
Swaps [Member] | Derivative contracts for trading purposes [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial Assets | 1,761,952 | 738,130 | ||
Financial Liabilities | 2,097,022 | 854,708 | ||
Swaps [Member] | Level 2 [Member] | Derivative contracts for trading purposes [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial Assets | 1,761,952 | 738,130 | ||
Financial Liabilities | 2,097,022 | 854,708 | ||
Call Options [Member] | Derivative contracts for trading purposes [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial Assets | 4,961 | 4,839 | ||
Financial Liabilities | 1,529 | 2,921 | ||
Call Options [Member] | Level 2 [Member] | Derivative contracts for trading purposes [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial Assets | 4,961 | 4,839 | ||
Financial Liabilities | 1,529 | 2,921 | ||
Forwards [Member] | Derivative contracts for trading purposes [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial Assets | 956,632 | 735,444 | ||
Financial Liabilities | 673,932 | 631,089 | ||
Forwards [Member] | Level 2 [Member] | Derivative contracts for trading purposes [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial Assets | 956,632 | 735,444 | ||
Financial Liabilities | 673,932 | 631,089 | ||
Other instruments issued in Chile [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial Assets | 2,786,215 | 1,513,947 | ||
Other instruments issued in Chile [Member] | Level 2 [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial Assets | 2,786,215 | 1,513,947 | ||
Mutual fund investments [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial Assets | 373,329 | 87,841 | ||
Mutual fund investments [Member] | Level 1 [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial Assets | 373,329 | 87,841 | ||
Financial assets available-for-sale [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial Assets | ||||
Financial assets available-for-sale [Member] | Level 2 [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial Assets | ||||
Financial assets available-for-sale [Member] | Level 3 [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial Assets | ||||
Financial assets available-for-sale [Member] | Level 1 [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial Assets | ||||
Financial assets available-for-sale [Member] | Other instruments issued in Chile [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial Assets | ||||
Financial assets available-for-sale [Member] | Instruments issued by the Chilean Governments and Central Bank of Chile [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial Assets | ||||
Financial assets available-for-sale [Member] | Instruments issued by the Chilean Governments and Central Bank of Chile [Member] | Level 3 [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial Assets | ||||
Financial assets available-for-sale [Member] | Instruments issued by the Chilean Governments and Central Bank of Chile [Member] | Level 1 [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial Assets | ||||
Financial assets available-for-sale [Member] | Instruments issued by the Chilean Governments and Central Bank of Chile [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial Assets | ||||
Financial assets available-for-sale [Member] | Instruments issued by the Chilean Governments and Central Bank of Chile [Member] | Level 2 [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial Assets | ||||
Financial assets available-for-sale [Member] | Instruments issued by the Chilean Governments and Central Bank of Chile [Member] | Level 1 [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial Assets | ||||
Other assets [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial Assets | ||||
Other assets [Member] | Level 1 [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial Assets | ||||
Trading equity instruments [Member] | Financial assets at fair value through other comprehensive income [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial Assets | 8,497 | 9,751 | ||
Trading equity instruments [Member] | Financial assets at fair value through other comprehensive income [Member] | Level 2 [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial Assets | 7,446 | 8,939 | ||
Trading equity instruments [Member] | Financial assets at fair value through other comprehensive income [Member] | Level 3 [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial Assets | 96 | 89 | ||
Trading equity instruments [Member] | Financial assets at fair value through other comprehensive income [Member] | Level 1 [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial Assets | 955 | 723 | ||
Trading equity instruments [Member] | Financial assets at fair value through other comprehensive income [Member] | Other instruments issued in Chile [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial Assets | 7,446 | 8,939 | ||
Trading equity instruments [Member] | Financial assets at fair value through other comprehensive income [Member] | Other instruments issued in Chile [Member] | Level 2 [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial Assets | 7,446 | 8,939 | ||
Trading equity instruments [Member] | Financial assets at fair value through other comprehensive income [Member] | Instruments issued by the Chilean Governments and Central Bank of Chile [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial Assets | 1,051 | 812 | ||
Trading equity instruments [Member] | Financial assets at fair value through other comprehensive income [Member] | Instruments issued by the Chilean Governments and Central Bank of Chile [Member] | Level 3 [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial Assets | 96 | 89 | ||
Trading equity instruments [Member] | Financial assets at fair value through other comprehensive income [Member] | Instruments issued by the Chilean Governments and Central Bank of Chile [Member] | Level 1 [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial Assets | 955 | 723 | ||
Debt instruments [Member] | Financial assets at fair value through other comprehensive income [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial Assets | [1] | 1,357,846 | 1,043,440 | |
Debt instruments [Member] | Financial assets at fair value through other comprehensive income [Member] | Level 2 [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial Assets | [1] | 1,283,824 | 921,287 | |
Debt instruments [Member] | Financial assets at fair value through other comprehensive income [Member] | Level 3 [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial Assets | [1] | 7,069 | 23,021 | |
Debt instruments [Member] | Financial assets at fair value through other comprehensive income [Member] | Level 1 [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial Assets | 66,593 | [1] | 99,132 | |
Debt instruments [Member] | Financial assets at fair value through other comprehensive income [Member] | Other instruments issued in Chile [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial Assets | [1] | 1,228,931 | 770,674 | |
Debt instruments [Member] | Financial assets at fair value through other comprehensive income [Member] | Other instruments issued in Chile [Member] | Level 2 [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial Assets | [1] | 1,221,862 | 747,653 | |
Debt instruments [Member] | Financial assets at fair value through other comprehensive income [Member] | Other instruments issued in Chile [Member] | Level 3 [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial Assets | [1] | 7,069 | 23,021 | |
Debt instruments [Member] | Financial assets at fair value through other comprehensive income [Member] | Instruments issued by the Chilean Governments and Central Bank of Chile [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial Assets | [1] | 19,853 | 108,544 | |
Debt instruments [Member] | Financial assets at fair value through other comprehensive income [Member] | Instruments issued by the Chilean Governments and Central Bank of Chile [Member] | Level 2 [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial Assets | [1] | 19,853 | 108,544 | |
Debt instruments [Member] | Financial assets at fair value through other comprehensive income [Member] | Instruments issued by the Chilean Governments and Central Bank of Chile [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial Assets | [1] | 109,062 | 164,222 | |
Debt instruments [Member] | Financial assets at fair value through other comprehensive income [Member] | Instruments issued by the Chilean Governments and Central Bank of Chile [Member] | Level 2 [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial Assets | [1] | 42,109 | 65,090 | |
Debt instruments [Member] | Financial assets at fair value through other comprehensive income [Member] | Instruments issued by the Chilean Governments and Central Bank of Chile [Member] | Level 1 [Member] | ||||
Disclosure of detailed information about financial instruments [line items] | ||||
Financial Assets | [1] | $ 66,593 | $ 99,132 | |
[1] | As of December 31, 2019, 98% of instruments of Level 3 have denomination "Investment Grade". Also, 100% of total of these financial instruments correspond to domestic issuers. |
Fair Value of Financial Asset_4
Fair Value of Financial Assets and Liabilities-Level 3 Reconciliation (Details) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | ||
Level 3 Reconciliation | |||
Assets at beginning of period | $ 35,601,430 | ||
Assets at end of period | 41,013,874 | $ 35,601,430 | |
Level 3 | |||
Level 3 Reconciliation | |||
Assets at beginning of period | 43,976 | 54,327 | |
Gain (Loss) Recognized in Income | [1] | 930 | 2,715 |
Gain (Loss) Recognized in Equity | [2] | (510) | (253) |
Purchases | 48,017 | 48,740 | |
Sales | (44,681) | (56,582) | |
Transfer from Level 1 and 2 | [1] | 15,142 | |
Transfer to Level 1 and 2 | [2] | (615) | (4,971) |
Assets at end of period | 62,259 | 43,976 | |
Financial assets held-for-trading | Level 3 | |||
Level 3 Reconciliation | |||
Assets at beginning of period | 20,866 | 8,012 | |
Gain (Loss) Recognized in Income | [1] | (38) | 176 |
Gain (Loss) Recognized in Equity | [2] | ||
Purchases | 48,017 | 48,740 | |
Sales | (26,504) | (36,062) | |
Transfer from Level 1 and 2 | [1] | 13,368 | |
Transfer to Level 1 and 2 | [2] | (615) | |
Assets at end of period | 55,094 | 20,866 | |
Financial assets held-for-trading | Other instruments issued in Chile | Level 3 | |||
Level 3 Reconciliation | |||
Assets at beginning of period | 20,866 | 8,012 | |
Gain (Loss) Recognized in Income | [1] | (38) | 176 |
Gain (Loss) Recognized in Equity | [2] | ||
Purchases | 48,017 | 48,740 | |
Sales | (26,504) | (36,062) | |
Transfer from Level 1 and 2 | [1] | 13,368 | |
Transfer to Level 1 and 2 | [2] | (615) | |
Assets at end of period | 55,094 | 20,866 | |
Financial assets at fair value through other comprehensive income | Level 3 | |||
Level 3 Reconciliation | |||
Assets at beginning of period | 23,110 | 46,315 | |
Gain (Loss) Recognized in Income | [1] | 968 | 2,539 |
Gain (Loss) Recognized in Equity | [2] | (510) | (253) |
Purchases | |||
Sales | (18,177) | (20,520) | |
Transfer from Level 1 and 2 | [1] | 1,774 | |
Transfer to Level 1 and 2 | [2] | (4,971) | |
Assets at end of period | 7,165 | 23,110 | |
Financial assets at fair value through other comprehensive income | Other instruments issued in Chile | Level 3 | Debt instruments | |||
Level 3 Reconciliation | |||
Assets at beginning of period | 23,021 | 46,265 | |
Gain (Loss) Recognized in Income | [1] | 968 | 2,539 |
Gain (Loss) Recognized in Equity | [2] | (517) | (292) |
Purchases | |||
Sales | (18,177) | (20,520) | |
Transfer from Level 1 and 2 | [1] | 1,774 | |
Transfer to Level 1 and 2 | [2] | (4,971) | |
Assets at end of period | 7,069 | 23,021 | |
Financial assets at fair value through other comprehensive income | Instruments issued by foreign institutions | Level 3 | Trading equity instruments | |||
Level 3 Reconciliation | |||
Assets at beginning of period | 89 | 50 | |
Gain (Loss) Recognized in Income | [1] | ||
Gain (Loss) Recognized in Equity | [2] | 7 | 39 |
Purchases | |||
Sales | |||
Transfer from Level 1 and 2 | [1] | ||
Transfer to Level 1 and 2 | [2] | ||
Assets at end of period | $ 96 | $ 89 | |
[1] | It is recorded in the income statement under "Net financial operating income" | ||
[2] | It is recorded in Equity under "Other Comprehensive Income" |
Fair Value of Financial Asset_5
Fair Value of Financial Assets and Liabilities-Transfers between levels (Details) - Instruments Issued By Chilean Government And Central Bank [Member] - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Financial assets held-for-trading [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Transfers from level 1 to level 2 | $ 84 | $ 496 |
Transfers from level 2 to level 1 | 17 | |
Instruments Issued By Foreign Institutions [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Transfers from level 1 to level 2 | ||
Transfers from level 2 to level 1 | ||
Financial assets at fair value through other comprehensive income [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Transfers from level 1 to level 2 | ||
Transfers from level 2 to level 1 |
Fair Value of Financial Asset_6
Fair Value of Financial Assets and Liabilities-Sensitivity of level 3 instruments to changes in key assumptions of the input parameters for the valuation model (Details) - Level 3 - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of fair value measurement of assets [line items] | ||
Financial Assets | $ 62,259 | $ 43,976 |
Sensitivity to changes in key assumptions of models | (552) | (221) |
Financial assets held-for-trading | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial Assets | 55,094 | 20,866 |
Sensitivity to changes in key assumptions of models | (466) | (26) |
Financial assets held-for-trading | Other instruments issued in Chile | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial Assets | 55,094 | 20,866 |
Sensitivity to changes in key assumptions of models | (466) | (26) |
Financial assets at fair value through other comprehensive income | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial Assets | 7,165 | 23,110 |
Sensitivity to changes in key assumptions of models | (86) | (195) |
Financial assets at fair value through other comprehensive income | Other instruments issued in Chile | Debt instruments | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial Assets | 7,069 | 23,021 |
Sensitivity to changes in key assumptions of models | (86) | (195) |
Financial assets at fair value through other comprehensive income | Instruments issued by foreign institutions | Trading equity instruments | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial Assets | 96 | 89 |
Sensitivity to changes in key assumptions of models |
Fair Value of Financial Asset_7
Fair Value of Financial Assets and Liabilities-Fair value of Financial Assets/Liabilities not measured at fair value on the balance sheet (Details) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of detailed information about financial instruments [line items] | ||
Financial Liabilities | $ 1,528,234 | |
Book Value | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | $ 33,390,035 | 30,102,202 |
Financial Liabilities | 33,123,274 | 29,699,243 |
Book Value | Current accounts and other demand deposits | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Liabilities | 11,326,133 | 9,584,488 |
Book Value | Transactions in the course of payment | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Liabilities | 98,869 | 44,436 |
Book Value | Cash collateral on securities lent and reverse repurchase agreements | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Liabilities | 308,734 | 303,820 |
Book Value | Saving accounts and time deposits | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Liabilities | 10,856,618 | 10,656,174 |
Book Value | Borrowings from financial institutions | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Liabilities | 1,563,277 | 1,516,759 |
Book Value | Other financial obligations | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Liabilities | 156,229 | 118,014 |
Book Value | Borrowings And Deposits [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Liabilities | 24,309,860 | 22,223,691 |
Book Value | Letters of credit for residential purposes | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Liabilities | 10,229 | 15,040 |
Book Value | Letters of credit for general purposes | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Liabilities | 669 | 1,328 |
Book Value | Bonds | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Liabilities | 7,912,621 | 6,772,990 |
Book Value | Subordinated bonds | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Liabilities | 889,895 | 686,194 |
Book Value | Debt issued | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Liabilities | 8,813,414 | 7,475,552 |
Fair Value - not measured at fair value | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets at fair value | 34,096,829 | 30,270,446 |
Financial liabilities at fair value | 33,601,050 | 29,838,379 |
Fair Value - not measured at fair value | Current accounts and other demand deposits | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities at fair value | 11,326,133 | 9,584,488 |
Fair Value - not measured at fair value | Transactions in the course of payment | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities at fair value | 98,869 | 44,436 |
Fair Value - not measured at fair value | Cash collateral on securities lent and reverse repurchase agreements | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities at fair value | 308,734 | 303,820 |
Fair Value - not measured at fair value | Saving accounts and time deposits | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities at fair value | 10,795,125 | 10,632,350 |
Fair Value - not measured at fair value | Borrowings from financial institutions | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities at fair value | 1,555,129 | 1,506,940 |
Fair Value - not measured at fair value | Other financial obligations | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities at fair value | 160,361 | 119,024 |
Fair Value - not measured at fair value | Borrowings And Deposits [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities at fair value | 24,244,351 | 22,191,058 |
Fair Value - not measured at fair value | Letters of credit for residential purposes | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities at fair value | 11,081 | 15,982 |
Fair Value - not measured at fair value | Letters of credit for general purposes | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities at fair value | 725 | 1,411 |
Fair Value - not measured at fair value | Bonds | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities at fair value | 8,340,272 | 6,897,317 |
Fair Value - not measured at fair value | Subordinated bonds | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities at fair value | 1,004,621 | 732,611 |
Fair Value - not measured at fair value | Debt issued | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial liabilities at fair value | 9,356,699 | 7,647,321 |
Cash and due from banks | Book Value | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | 2,392,166 | 880,081 |
Cash and due from banks | Fair Value - not measured at fair value | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets at fair value | 2,392,166 | 880,081 |
Transactions in the course of collection | Book Value | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | 331,420 | 289,194 |
Transactions in the course of collection | Fair Value - not measured at fair value | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets at fair value | 331,420 | 289,194 |
Cash collateral on securities borrowed and reverse repurchase agreements | Book Value | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | 142,329 | 97,289 |
Cash collateral on securities borrowed and reverse repurchase agreements | Fair Value - not measured at fair value | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets at fair value | 142,329 | 97,289 |
Cash and other transactions | Book Value | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | 2,865,915 | 1,266,564 |
Cash and other transactions | Fair Value - not measured at fair value | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets at fair value | 2,865,915 | 1,266,564 |
Domestic banks | Book Value | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | 149,974 | 99,776 |
Domestic banks | Fair Value - not measured at fair value | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets at fair value | 149,974 | 99,776 |
Central Bank of Chile | Book Value | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | 630,053 | 1,100,831 |
Central Bank of Chile | Fair Value - not measured at fair value | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets at fair value | 630,053 | 1,100,831 |
Foreign banks | Book Value | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | 360,054 | 293,777 |
Foreign banks | Fair Value - not measured at fair value | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets at fair value | 358,542 | 286,063 |
Loans and advances to banks | Book Value | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | 1,140,081 | 1,494,384 |
Loans and advances to banks | Fair Value - not measured at fair value | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets at fair value | 1,138,569 | 1,486,670 |
Commercial loans | Book Value | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | 16,039,411 | 15,209,534 |
Commercial loans | Fair Value - not measured at fair value | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets at fair value | 15,988,330 | 14,949,852 |
Mortgage loans | Book Value | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | 9,163,019 | 8,017,743 |
Mortgage loans | Fair Value - not measured at fair value | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets at fair value | 9,888,506 | 8,451,099 |
Consumer loans | Book Value | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | 4,181,609 | 4,113,977 |
Consumer loans | Fair Value - not measured at fair value | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets at fair value | 4,215,509 | 4,116,261 |
Loans to customers | Book Value | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | 29,384,039 | 27,341,254 |
Loans to customers | Fair Value - not measured at fair value | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets at fair value | $ 30,092,345 | $ 27,517,212 |
Fair Value of Financial Asset_8
Fair Value of Financial Assets and Liabilities-Estimated Fair Value (Details) - Fair Value - not measured at fair value - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | $ 34,096,829 | $ 30,270,446 |
Financial Liabilities | 33,601,050 | 29,838,379 |
Current accounts and other demand deposits | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Liabilities | 11,326,133 | 9,584,488 |
Current and saving accounts and other financial obligations | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Liabilities | 24,244,351 | 22,191,058 |
Borrowings from financial institutions | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Liabilities | 1,555,129 | 1,506,940 |
Cash collateral on securities lent and reverse repurchase agreements | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Liabilities | 308,734 | 303,820 |
Debt issued | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Liabilities | 9,356,699 | 7,647,321 |
Letters of credit for general purposes | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Liabilities | 725 | 1,411 |
Letters of credit for residential purposes | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Liabilities | 11,081 | 15,982 |
Other financial obligations | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Liabilities | 160,361 | 119,024 |
Saving accounts and time deposits | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Liabilities | 10,795,125 | 10,632,350 |
Subordinated bonds | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Liabilities | 1,004,621 | 732,611 |
Transactions in the course of payment | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Liabilities | 98,869 | 44,436 |
Bonds | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Liabilities | 8,340,272 | 6,897,317 |
Level 1 | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | 3,645,942 | 2,467,171 |
Financial Liabilities | 9,932,744 | |
Level 1 | Current accounts and other demand deposits | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Liabilities | 11,326,133 | 9,584,488 |
Level 1 | Current and saving accounts and other financial obligations | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | ||
Financial Liabilities | 9,932,744 | |
Level 1 | Borrowings from financial institutions | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Liabilities | ||
Level 1 | Cash collateral on securities lent and reverse repurchase agreements | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | ||
Financial Liabilities | 303,820 | |
Level 1 | Letters of credit for general purposes | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Liabilities | ||
Level 1 | Letters of credit for residential purposes | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Liabilities | ||
Level 1 | Other financial obligations | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Liabilities | ||
Level 1 | Saving accounts and time deposits | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Liabilities | ||
Level 1 | Subordinated bonds | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Liabilities | ||
Level 1 | Transactions in the course of payment | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Liabilities | 98,869 | 44,436 |
Level 1 | Bonds | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Liabilities | ||
Level 1 | Debt Issued [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Liabilities | ||
Level 3 | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | 27,803,275 | |
Financial Liabilities | 12,990,925 | |
Level 3 | Current accounts and other demand deposits | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Liabilities | ||
Level 3 | Current and saving accounts and other financial obligations | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | ||
Financial Liabilities | 12,258,314 | |
Level 3 | Borrowings from financial institutions | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | ||
Financial Liabilities | 1,555,129 | 1,506,940 |
Level 3 | Debt issued | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | ||
Financial Liabilities | 1,004,621 | 732,611 |
Level 3 | Letters of credit for general purposes | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Liabilities | ||
Level 3 | Letters of credit for residential purposes | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Liabilities | ||
Level 3 | Other financial obligations | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Liabilities | 160,361 | 119,024 |
Level 3 | Saving accounts and time deposits | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | ||
Financial Liabilities | 10,632,350 | |
Level 3 | Subordinated bonds | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | ||
Financial Liabilities | 1,004,621 | 732,611 |
Level 3 | Transactions in the course of payment | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Liabilities | ||
Level 3 | Bonds | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Liabilities | ||
Level 2 | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | ||
Financial Liabilities | 8,352,078 | 6,914,710 |
Level 2 | Current accounts and other demand deposits | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Liabilities | ||
Level 2 | Borrowings from financial institutions | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Liabilities | ||
Level 2 | Debt issued | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | ||
Financial Liabilities | 8,352,078 | 6,914,710 |
Level 2 | Letters of credit for general purposes | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | ||
Financial Liabilities | 1,411 | |
Level 2 | Letters of credit for residential purposes | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | ||
Financial Liabilities | 15,982 | |
Level 2 | Other financial obligations | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Liabilities | ||
Level 2 | Saving accounts and time deposits | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Liabilities | ||
Level 2 | Subordinated bonds | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Liabilities | ||
Level 2 | Bonds | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | ||
Financial Liabilities | 6,897,317 | |
Cash and due from banks | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | 2,392,166 | 880,081 |
Cash and due from banks | Level 1 | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | 2,392,166 | 880,081 |
Cash and due from banks | Level 3 | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | ||
Cash and due from banks | Level 2 | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | ||
Transactions in the course of collection | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | 331,420 | 289,194 |
Transactions in the course of collection | Level 1 | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | 331,420 | 289,194 |
Transactions in the course of collection | Level 3 | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | ||
Transactions in the course of collection | Level 2 | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Liabilities | ||
Cash and other transactions | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | 2,865,915 | 1,266,564 |
Cash and other transactions | Level 1 | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | 1,266,564 | |
Domestic banks | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | 149,974 | 99,776 |
Domestic banks | Level 1 | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | 149,974 | 99,776 |
Domestic banks | Level 3 | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | ||
Domestic banks | Level 2 | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | ||
Mortgages | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | 9,888,506 | 8,451,099 |
Mortgages | Level 1 | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | ||
Mortgages | Level 3 | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | 8,451,099 | |
Consumer loans | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | 4,215,509 | 4,116,261 |
Consumer loans | Level 1 | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | ||
Consumer loans | Level 3 | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | 4,116,261 | |
Financial Liabilities | ||
Loans to Customers at amortized cost | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | 30,092,345 | 27,517,212 |
Loans to Customers at amortized cost | Level 1 | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | ||
Loans to Customers at amortized cost | Level 3 | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | 27,517,212 | |
Foreign banks | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | 358,542 | 286,063 |
Foreign banks | Level 1 | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | ||
Foreign banks | Level 3 | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | 358,542 | 286,063 |
Foreign banks | Level 2 | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | ||
Central Bank of Chile | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | 630,053 | 1,100,831 |
Central Bank of Chile | Level 1 | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | 630,053 | 1,100,831 |
Central Bank of Chile | Level 3 | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | ||
Central Bank of Chile | Level 2 | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | ||
Loans and advances to banks | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | 1,138,569 | 1,486,670 |
Loans and advances to banks | Level 1 | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | 780,027 | 1,200,607 |
Loans and advances to banks | Level 3 | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | 358,542 | 286,063 |
Loans and advances to banks | Level 2 | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | ||
Commercial loans | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | 15,988,330 | 14,949,852 |
Commercial loans | Level 1 | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | ||
Commercial loans | Level 3 | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | 15,988,330 | 14,949,852 |
Cash collateral on securities borrowed and reverse repurchase agreements | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | 142,329 | 97,289 |
Cash collateral on securities borrowed and reverse repurchase agreements | Level 1 | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | ||
Investments under resale agreements [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | 142,329 | 97,289 |
Investments under resale agreements [Member] | Level 1 | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | 142,329 | 97,289 |
Investments under resale agreements [Member] | Level 3 | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | ||
Investments under resale agreements [Member] | Level 2 | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | ||
Obligations under repurchase agreements [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Assets | 308,734 | 303,820 |
Obligations under repurchase agreements [Member] | Level 1 | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Liabilities | 308,734 | 303,820 |
Obligations under repurchase agreements [Member] | Level 3 | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Liabilities | ||
Obligations under repurchase agreements [Member] | Level 2 | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial Liabilities |
Fair Value of Financial Asset_9
Fair Value of Financial Assets and Liabilities-Offsetting of financial assets and liabilities (Details) - Derivatives - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Effect of offsetting on assets balance sheet | ||
Gross amount | $ 2,786,215 | $ 1,513,947 |
Net amounts reported on the balance sheet | 2,786,215 | 1,513,947 |
Related amount not offset | ||
Financial Instruments | (2,113,970) | (1,007,130) |
Financial Collateral | (43,337) | (30,036) |
Net amount | 628,908 | 476,781 |
Effect of offsetting on liabilities balance sheet | ||
Gross amount | 2,818,421 | 1,528,234 |
Net amounts reported on the balance sheet | 2,818,421 | 1,528,234 |
Related amount not offset | ||
Financial Instruments | (2,113,970) | (1,007,130) |
Financial Collateral | (418,988) | (233,450) |
Net amount | $ 285,463 | $ 287,654 |
Fair Value of Financial Asse_10
Fair Value of Financial Assets and Liabilities (Details Textual) | 12 Months Ended |
Dec. 31, 2019 | |
Fair Value of Financial Assets and Liabilities [abstract] | |
Instruments of level 3 have denomination Investment Grade | 98.00% |
Financial instruments correspond to domestic issuers | 100.00% |
Maturity of Assets and Liabil_3
Maturity of Assets and Liabilities (Details) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Assets | ||||
Cash and due from banks | $ 2,392,166 | $ 880,081 | ||
Transactions in the course of collection | 331,420 | 289,194 | ||
Financial Assets held-for-trading | 1,872,355 | 1,745,366 | ||
Investments under resale agreements | 142,329 | 97,289 | ||
Derivative instruments | 2,786,215 | 1,513,947 | ||
Loans and advances to banks | 1,140,081 | 1,494,384 | ||
Loans to customers at amortized cost | 29,384,039 | 27,341,254 | ||
Financial Assets at Fair Value through Other Comprehensive Income | 1,366,343 | 1,053,191 | ||
Financial assets held-to-maturity | ||||
Total financial assets | 41,013,874 | 35,601,430 | ||
Liabilities | ||||
Current accounts and other demand deposits | 11,326,133 | 9,584,488 | ||
Transactions in the course of payment | 98,869 | 44,436 | ||
Obligations under repurchase agreements | 308,734 | 303,820 | ||
Savings accounts and time deposits | 10,856,618 | 10,656,174 | ||
Derivative instruments | 2,818,421 | 1,528,234 | ||
Borrowings from financial institutions | 1,563,277 | 1,516,759 | ||
Debt issued: | ||||
Mortgage bonds | 10,898 | 16,368 | ||
Bonds | 7,912,621 | 6,772,990 | ||
Subordinate bonds | 889,895 | 686,194 | ||
Other financial obligations | 156,229 | 118,014 | ||
Lease liabilities | 146,013 | |||
Total financial liabilities | 37,108,113 | 31,927,714 | $ 29,016,089 | |
Up to1 month [Member] | ||||
Assets | ||||
Cash and due from banks | 2,392,166 | 880,081 | ||
Transactions in the course of collection | 331,420 | 289,194 | ||
Financial Assets held-for-trading | 1,872,355 | 1,745,366 | ||
Investments under resale agreements | 102,057 | 73,496 | ||
Derivative instruments | 158,873 | 157,417 | ||
Loans and advances to banks | [1] | 876,119 | 1,262,428 | |
Loans to customers at amortized cost | [1] | 4,175,064 | 3,954,066 | |
Financial Assets at Fair Value through Other Comprehensive Income | 23,786 | 38,691 | ||
Financial assets held-to-maturity | ||||
Total financial assets | 9,931,840 | 8,400,739 | ||
Liabilities | ||||
Current accounts and other demand deposits | 11,326,133 | 9,584,488 | ||
Transactions in the course of payment | 98,869 | 44,436 | ||
Obligations under repurchase agreements | 298,711 | 237,999 | ||
Savings accounts and time deposits | [2] | 6,130,583 | 5,018,791 | |
Derivative instruments | 156,291 | 146,764 | ||
Borrowings from financial institutions | 69,711 | 115,220 | ||
Debt issued: | ||||
Mortgage bonds | 1,102 | 1,453 | ||
Bonds | 423,966 | 325,766 | ||
Subordinate bonds | 3,041 | 4,220 | ||
Other financial obligations | 140,449 | 97,393 | ||
Lease liabilities | 2,353 | |||
Total financial liabilities | 18,651,209 | 15,576,530 | ||
Over 1 month and up to 3 months [Member] | ||||
Assets | ||||
Cash and due from banks | ||||
Transactions in the course of collection | ||||
Financial Assets held-for-trading | ||||
Investments under resale agreements | 29,393 | 16,918 | ||
Derivative instruments | 314,446 | 241,305 | ||
Loans and advances to banks | [1] | 97,585 | 77,268 | |
Loans to customers at amortized cost | [1] | 2,340,320 | 2,143,023 | |
Financial Assets at Fair Value through Other Comprehensive Income | 225,772 | 137,420 | ||
Financial assets held-to-maturity | ||||
Total financial assets | 3,007,516 | 2,615,934 | ||
Liabilities | ||||
Current accounts and other demand deposits | ||||
Transactions in the course of payment | ||||
Obligations under repurchase agreements | 8,583 | 1,448 | ||
Savings accounts and time deposits | [2] | 1,979,110 | 1,946,688 | |
Derivative instruments | 237,743 | 237,039 | ||
Borrowings from financial institutions | 349,478 | 269,412 | ||
Debt issued: | ||||
Mortgage bonds | 1,212 | 1,618 | ||
Bonds | 211,648 | 275,688 | ||
Subordinate bonds | 2,460 | 2,254 | ||
Other financial obligations | 1,436 | 3,505 | ||
Lease liabilities | 4,776 | |||
Total financial liabilities | 2,796,446 | 2,737,652 | ||
Over 3 month and up to 12 months [Member] | ||||
Assets | ||||
Cash and due from banks | ||||
Transactions in the course of collection | ||||
Financial Assets held-for-trading | ||||
Investments under resale agreements | 10,879 | 6,875 | ||
Derivative instruments | 621,036 | 378,093 | ||
Loans and advances to banks | [1] | 166,487 | 132,259 | |
Loans to customers at amortized cost | [1] | 5,685,646 | 4,973,622 | |
Financial Assets at Fair Value through Other Comprehensive Income | 779,872 | 383,200 | ||
Financial assets held-to-maturity | ||||
Total financial assets | 7,263,920 | 5,874,049 | ||
Liabilities | ||||
Current accounts and other demand deposits | ||||
Transactions in the course of payment | ||||
Obligations under repurchase agreements | 1,440 | 64,373 | ||
Savings accounts and time deposits | [2] | 2,224,778 | 3,100,464 | |
Derivative instruments | 616,472 | 335,497 | ||
Borrowings from financial institutions | 1,049,781 | 1,052,830 | ||
Debt issued: | ||||
Mortgage bonds | 2,622 | 3,581 | ||
Bonds | 413,485 | 583,876 | ||
Subordinate bonds | 115,933 | 44,901 | ||
Other financial obligations | 6,490 | 10,126 | ||
Lease liabilities | 20,841 | |||
Total financial liabilities | 4,451,842 | 5,195,648 | ||
Subtotal up to 1 year [Member] | ||||
Assets | ||||
Cash and due from banks | 2,392,166 | 880,081 | ||
Transactions in the course of collection | 331,420 | 289,194 | ||
Financial Assets held-for-trading | 1,872,355 | 1,745,366 | ||
Investments under resale agreements | 142,329 | 97,289 | ||
Derivative instruments | 1,094,355 | 776,815 | ||
Loans and advances to banks | [1] | 1,140,191 | 1,471,955 | |
Loans to customers at amortized cost | [1] | 12,201,030 | 11,070,711 | |
Financial Assets at Fair Value through Other Comprehensive Income | 1,029,430 | 559,311 | ||
Financial assets held-to-maturity | ||||
Total financial assets | 20,203,276 | 16,890,722 | ||
Liabilities | ||||
Current accounts and other demand deposits | 11,326,133 | 9,584,488 | ||
Transactions in the course of payment | 98,869 | 44,436 | ||
Obligations under repurchase agreements | 308,734 | 303,820 | ||
Savings accounts and time deposits | [2] | 10,334,471 | 10,065,943 | |
Derivative instruments | 1,010,506 | 719,300 | ||
Borrowings from financial institutions | 1,468,970 | 1,437,462 | ||
Debt issued: | ||||
Mortgage bonds | 4,936 | 6,652 | ||
Bonds | 1,049,099 | 1,185,330 | ||
Subordinate bonds | 121,434 | 51,375 | ||
Other financial obligations | 148,375 | 111,024 | ||
Lease liabilities | 27,970 | |||
Total financial liabilities | 25,899,497 | 23,509,830 | ||
Over 1 year and up to 3 years [Member] | ||||
Assets | ||||
Cash and due from banks | ||||
Transactions in the course of collection | ||||
Financial Assets held-for-trading | ||||
Investments under resale agreements | ||||
Derivative instruments | 543,469 | 274,200 | ||
Loans and advances to banks | [1] | 23,441 | ||
Loans to customers at amortized cost | [1] | 5,624,031 | 5,726,668 | |
Financial Assets at Fair Value through Other Comprehensive Income | 106,930 | 74,940 | ||
Financial assets held-to-maturity | ||||
Total financial assets | 6,274,430 | 6,099,249 | ||
Liabilities | ||||
Current accounts and other demand deposits | ||||
Transactions in the course of payment | ||||
Obligations under repurchase agreements | ||||
Savings accounts and time deposits | [2] | 281,384 | 365,177 | |
Derivative instruments | 608,516 | 264,438 | ||
Borrowings from financial institutions | 94,307 | 79,297 | ||
Debt issued: | ||||
Mortgage bonds | 3,868 | 5,911 | ||
Bonds | 1,460,318 | 844,692 | ||
Subordinate bonds | 38,525 | 41,122 | ||
Other financial obligations | 6,383 | 5,555 | ||
Lease liabilities | 51,571 | |||
Total financial liabilities | 2,544,872 | 1,606,192 | ||
Over 3 year and up to 5 years [Member] | ||||
Assets | ||||
Cash and due from banks | ||||
Transactions in the course of collection | ||||
Financial Assets held-for-trading | ||||
Investments under resale agreements | ||||
Derivative instruments | 411,470 | 214,863 | ||
Loans and advances to banks | [1] | |||
Loans to customers at amortized cost | [1] | 3,198,639 | 3,133,606 | |
Financial Assets at Fair Value through Other Comprehensive Income | 30,080 | 136,342 | ||
Financial assets held-to-maturity | ||||
Total financial assets | 3,640,189 | 3,484,811 | ||
Liabilities | ||||
Current accounts and other demand deposits | ||||
Transactions in the course of payment | ||||
Obligations under repurchase agreements | ||||
Savings accounts and time deposits | [2] | 492 | 619 | |
Derivative instruments | 469,861 | 273,790 | ||
Borrowings from financial institutions | ||||
Debt issued: | ||||
Mortgage bonds | 1,579 | 2,577 | ||
Bonds | 1,746,745 | 1,505,660 | ||
Subordinate bonds | 18,251 | 27,906 | ||
Other financial obligations | 1,471 | 1,307 | ||
Lease liabilities | 28,463 | |||
Total financial liabilities | 2,266,862 | 1,811,859 | ||
Over 5 years [Member] | ||||
Assets | ||||
Cash and due from banks | ||||
Transactions in the course of collection | ||||
Financial Assets held-for-trading | ||||
Investments under resale agreements | ||||
Derivative instruments | 736,921 | 248,069 | ||
Loans and advances to banks | [1] | |||
Loans to customers at amortized cost | [1] | 9,009,572 | 7,995,647 | |
Financial Assets at Fair Value through Other Comprehensive Income | 199,903 | 282,598 | ||
Financial assets held-to-maturity | ||||
Total financial assets | 9,946,396 | 8,526,314 | ||
Liabilities | ||||
Current accounts and other demand deposits | ||||
Transactions in the course of payment | ||||
Obligations under repurchase agreements | ||||
Savings accounts and time deposits | [2] | 421 | 132 | |
Derivative instruments | 729,538 | 270,706 | ||
Borrowings from financial institutions | ||||
Debt issued: | ||||
Mortgage bonds | 515 | 1,228 | ||
Bonds | 3,656,459 | 3,237,308 | ||
Subordinate bonds | 711,685 | 565,791 | ||
Other financial obligations | 128 | |||
Lease liabilities | 38,009 | |||
Total financial liabilities | 5,136,627 | 4,075,293 | ||
Subtotal over 1 year [Member] | ||||
Assets | ||||
Cash and due from banks | ||||
Transactions in the course of collection | ||||
Financial Assets held-for-trading | ||||
Investments under resale agreements | ||||
Derivative instruments | 1,691,860 | 737,132 | ||
Loans and advances to banks | [1] | 23,441 | ||
Loans to customers at amortized cost | [1] | 17,832,242 | 16,855,921 | |
Financial Assets at Fair Value through Other Comprehensive Income | 336,913 | 493,880 | ||
Financial assets held-to-maturity | ||||
Total financial assets | 19,861,015 | 18,110,374 | ||
Liabilities | ||||
Current accounts and other demand deposits | ||||
Transactions in the course of payment | ||||
Obligations under repurchase agreements | ||||
Savings accounts and time deposits | [2] | 282,297 | 365,928 | |
Derivative instruments | 1,807,915 | 808,934 | ||
Borrowings from financial institutions | 94,307 | 79,297 | ||
Debt issued: | ||||
Mortgage bonds | 5,962 | 9,716 | ||
Bonds | 6,863,522 | 5,587,660 | ||
Subordinate bonds | 768,461 | 634,819 | ||
Other financial obligations | 7,854 | 6,990 | ||
Lease liabilities | 118,043 | |||
Total financial liabilities | $ 9,948,361 | $ 7,493,344 | ||
[1] | The respective provisions, which amount to Ch$585,378 million and Ch$649,233 million in 2018 and 2019, respectively, for loans to customers and Ch$1,012 million and Ch$110 million for loans and advances to banks, have not been deducted from these balances. | |||
[2] | Excludes term saving accounts, which amount to Ch$239,850 million (Ch$224,303 million in December 2018). |
Maturity of Assets and Liabil_4
Maturity of Assets and Liabilities (Details Textual) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Maturity of Assets and Liabilities [abstract] | ||
Provisions for loans to customers | $ 649,233 | $ 585,378 |
Provisions for loans and advances to banks | 110 | 1,012 |
Term saving accounts | $ 239,850 | $ 224,303 |
Risk Management - Portfolio Con
Risk Management - Portfolio Concentration Credit Risk Geographic Region (Details) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 1,366,343 | $ 1,053,191 |
Derivative contracts for trading purposes | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 2,724,621 | 1,478,533 |
Hedge derivative contracts | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 61,594 | 35,414 |
Domestic banks | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 1,345,439 | 943,835 |
Domestic banks | Derivative contracts for trading purposes | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 2,020,423 | 1,128,151 |
Domestic banks | Hedge derivative contracts | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 4,547 | |
Other | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 20,904 | |
Other | Derivative contracts for trading purposes | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 482,446 | 228,886 |
Other | Hedge derivative contracts | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 29,950 | 16,519 |
United States | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 108,544 | |
United States | Derivative contracts for trading purposes | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 221,752 | 121,496 |
United States | Hedge derivative contracts | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 25,780 | 14,348 |
Brazil | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 812 | |
Put Options | Derivative contracts for trading purposes | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 1,076 | 120 |
Put Options | Domestic banks | Derivative contracts for trading purposes | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 807 | 56 |
Put Options | Other | Derivative contracts for trading purposes | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 64 | |
Financial assets held-for-trading | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 1,872,355 | 1,745,366 |
Financial assets held-for-trading | Other instruments issued in Chile | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 375,337 | 129,607 |
Financial assets held-for-trading | Instruments issued by foreign institutions | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 4,446 | |
Financial assets held-for-trading | Instruments Issued By Chilean Government And Central Bank [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 1,123,689 | 1,523,472 |
Financial assets held-for-trading | Mutual fund investments | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 373,329 | 87,841 |
Financial assets held-for-trading | Domestic banks | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 1,872,355 | 1,740,920 |
Financial assets held-for-trading | Domestic banks | Other instruments issued in Chile | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 375,337 | 129,607 |
Financial assets held-for-trading | Domestic banks | Instruments Issued By Chilean Government And Central Bank [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 1,123,689 | 1,523,472 |
Financial assets held-for-trading | Domestic banks | Mutual fund investments | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 373,329 | |
Financial assets held-for-trading | United States | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 4,446 | |
Financial assets held-for-trading | United States | Instruments issued by foreign institutions | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 4,446 | |
Swaps | Derivative contracts for trading purposes | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 1,761,952 | 738,130 |
Swaps | Hedge derivative contracts | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 61,594 | 35,414 |
Swaps | Domestic banks | Derivative contracts for trading purposes | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 1,142,174 | 453,191 |
Swaps | Domestic banks | Hedge derivative contracts | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 4,547 | |
Swaps | Other | Derivative contracts for trading purposes | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 451,960 | 186,525 |
Swaps | Other | Hedge derivative contracts | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 29,950 | 16,519 |
Swaps | United States | Derivative contracts for trading purposes | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 167,818 | 98,414 |
Swaps | United States | Hedge derivative contracts | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 25,780 | 14,348 |
Call Options | Derivative contracts for trading purposes | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 4,961 | 4,839 |
Call Options | Domestic banks | Derivative contracts for trading purposes | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 4,961 | 4,309 |
Call Options | Other | Derivative contracts for trading purposes | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 530 | |
Forward Contract [Member] | Derivative contracts for trading purposes | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 956,632 | 735,444 |
Forward Contract [Member] | Domestic banks | Derivative contracts for trading purposes | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 872,481 | 670,595 |
Forward Contract [Member] | Other | Derivative contracts for trading purposes | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 30,228 | 41,767 |
Forward Contract [Member] | United States | Derivative contracts for trading purposes | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 53,923 | 23,082 |
FVOCI | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 1,366,343 | 1,053,191 |
FVOCI | Other instruments issued in Chile | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 770,674 | |
FVOCI | Instruments issued by foreign institutions | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 108,544 | |
FVOCI | Instruments Issued By Chilean Government And Central Bank [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 164,222 | |
FVOCI | Domestic banks | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 8,939 | |
FVOCI | Domestic banks | Other instruments issued in Chile | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 779,613 | |
FVOCI | Domestic banks | Instruments Issued By Chilean Government And Central Bank [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 164,222 | |
FVOCI | Other | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 812 | |
FVOCI | Other | Instruments issued by foreign institutions | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 812 | |
FVOCI | United States | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | ||
FVOCI | United States | Instruments issued by foreign institutions | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 108,544 | |
Mortgages | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 9,206,727 | 8,052,073 |
Mortgages | Domestic banks | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 30,018,587 | 8,052,073 |
Consumer loans | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 4,532,333 | 4,436,161 |
Consumer loans | Domestic banks | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 4,532,333 | 4,436,161 |
Loans to customers | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 30,033,272 | 27,926,632 |
Loans to customers | Domestic banks | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 30,018,587 | 27,833,088 |
Loans to customers | Other | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 14,685 | 93,190 |
Loans to customers | Brazil | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 354 | |
Foreign banks | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 360,131 | 294,542 |
Foreign banks | Other | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 115,162 | 84,849 |
Foreign banks | Brazil | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 244,969 | 209,693 |
Domestic banks | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 150,007 | 100,023 |
Domestic banks | Domestic banks | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 150,007 | 100,023 |
Central Bank of Chile | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 630,053 | 1,100,831 |
Central Bank of Chile | Domestic banks | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 630,053 | 1,100,831 |
Loans and advances to banks | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 1,140,191 | 1,495,396 |
Loans and advances to banks | Domestic banks | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 780,060 | 1,200,854 |
Loans and advances to banks | Other | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 115,162 | 84,849 |
Loans and advances to banks | Brazil | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 244,969 | 209,693 |
Commercial loans | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 16,294,212 | 15,438,398 |
Commercial loans | Domestic banks | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 16,279,527 | 15,344,854 |
Commercial loans | Other | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 14,685 | 93,190 |
Commercial loans | Brazil | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 354 | |
Cash collateral on securities borrowed and reverse repurchase agreements | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 142,329 | 97,289 |
Cash collateral on securities borrowed and reverse repurchase agreements | Domestic banks | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 142,329 | 97,289 |
Cash and due from banks | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 2,392,166 | 880,081 |
Cash and due from banks | Domestic banks | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 1,144,109 | 773,368 |
Cash and due from banks | Other | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 102,354 | 37,370 |
Cash and due from banks | United States | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 1,145,703 | 69,343 |
Small business loans | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 4,176,488 | 3,732,539 |
Corporate loans | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 11,705,859 | |
Financial assets available-for-sale | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 8,497 | $ 9,751 |
Financial assets available-for-sale | Other instruments issued in Chile | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 1,228,931 | |
Financial assets available-for-sale | Instruments issued by foreign institutions | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 19,853 | |
Financial assets available-for-sale | Instruments Issued By Chilean Government And Central Bank [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 109,062 | |
Financial assets available-for-sale | Domestic banks | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 7,446 | |
Financial assets available-for-sale | Domestic banks | Other instruments issued in Chile | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 1,228,931 | |
Financial assets available-for-sale | Domestic banks | Instruments Issued By Chilean Government And Central Bank [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 1,123,689 | |
Financial assets available-for-sale | Other | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 1,051 | |
Financial assets available-for-sale | Other | Instruments issued by foreign institutions | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 19,853 |
Risk Management - Portfolio C_2
Risk Management - Portfolio Concentration Credit Risk Industry Sector (Details) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of credit risk exposure [line items] | ||
Financial assets | $ 1,366,343 | $ 1,053,191 |
Derivative contracts for trading purposes | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 2,724,621 | 1,478,533 |
Hedge derivative contracts | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 61,594 | 35,414 |
Swaps | Derivative contracts for trading purposes | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 1,761,952 | 738,130 |
Swaps | Hedge derivative contracts | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 61,594 | 35,414 |
Forward Contract [Member] | Derivative contracts for trading purposes | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 956,632 | 735,444 |
FVOCI | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 1,366,343 | 1,053,191 |
FVOCI | Other instruments issued in Chile | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 770,674 | |
FVOCI | Instruments Issued By Chilean Government And Central Bank [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 164,222 | |
FVOCI | Instruments Issued By Foreign Institutions [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 108,544 | |
FVOCI | Debt Instruments | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 1,357,846 | 1,043,440 |
Put Options | Derivative contracts for trading purposes | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 1,076 | 120 |
Call Options | Derivative contracts for trading purposes | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 4,961 | 4,839 |
Financial assets held-for-trading | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 1,872,355 | 1,745,366 |
Financial assets held-for-trading | Other instruments issued in Chile | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 375,337 | 129,607 |
Financial assets held-for-trading | Instruments Issued By Chilean Government And Central Bank [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 1,123,689 | 1,523,472 |
Financial assets held-for-trading | Mutual fund investments | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 373,329 | 87,841 |
Financial assets held-for-trading | Instruments Issued By Foreign Institutions [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 4,446 | |
Loans to customers | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 30,033,272 | 27,926,632 |
Commercial loans | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 16,294,212 | 15,438,398 |
Cash collateral on securities borrowed and reverse repurchase agreements | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 142,329 | 97,289 |
Mortgages | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 9,206,727 | 8,052,073 |
Consumer loans | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 4,532,333 | 4,436,161 |
Foreign Banks | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 360,131 | 294,542 |
Domestic Banks | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 150,007 | 100,023 |
Loans and advances to banks | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 1,140,191 | 1,495,396 |
Cash and due from banks | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 2,392,166 | 880,081 |
Chilean Central Bank | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 630,053 | 1,100,831 |
Financial Instruments Available For Sale [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 8,497 | 9,751 |
Financial Instruments Available For Sale [Member] | Other instruments issued in Chile | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 1,228,931 | |
Financial Instruments Available For Sale [Member] | Instruments Issued By Chilean Government And Central Bank [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 109,062 | |
Financial Instruments Available For Sale [Member] | Instruments Issued By Foreign Institutions [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 19,853 | |
Corporate loans | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 11,705,859 | |
Instruments issued in Chile | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 7,446 | 8,939 |
Instruments issued abroad | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 1,051 | 812 |
Transportation and telecommunications | Derivative contracts for trading purposes | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 14,456 | 2,333 |
Transportation and telecommunications | Swaps | Derivative contracts for trading purposes | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 12,526 | 2,235 |
Transportation and telecommunications | Forward Contract [Member] | Derivative contracts for trading purposes | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 1,930 | 98 |
Transportation and telecommunications | FVOCI | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 4,938 | |
Transportation and telecommunications | FVOCI | Other instruments issued in Chile | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 4,938 | |
Transportation and telecommunications | FVOCI | Debt Instruments | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 4,938 | |
Transportation and telecommunications | Call Options | Derivative contracts for trading purposes | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | ||
Transportation and telecommunications | Loans to customers | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 1,234,087 | 1,498,142 |
Transportation and telecommunications | Commercial loans | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 1,234,087 | 1,498,142 |
Transportation and telecommunications | Cash collateral on securities borrowed and reverse repurchase agreements | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 8,665 | 15,637 |
Transportation and telecommunications | Financial Instruments Available For Sale [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | ||
Transportation and telecommunications | Financial Instruments Available For Sale [Member] | Other instruments issued in Chile | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | ||
Transportation and telecommunications | Instruments issued in Chile | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | ||
Transportation and telecommunications | Instruments issued abroad | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | ||
Transportation and telecommunications | Equity Instruments | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | ||
Trade | Derivative contracts for trading purposes | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 28,129 | 59,550 |
Trade | Swaps | Derivative contracts for trading purposes | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 9,813 | 51,916 |
Trade | Forward Contract [Member] | Derivative contracts for trading purposes | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 16,225 | 7,194 |
Trade | FVOCI | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 22,390 | |
Trade | FVOCI | Other instruments issued in Chile | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 22,390 | |
Trade | FVOCI | Debt Instruments | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 22,390 | |
Trade | Put Options | Derivative contracts for trading purposes | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 522 | 51 |
Trade | Call Options | Derivative contracts for trading purposes | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 1,569 | 389 |
Trade | Loans to customers | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 2,066,372 | 2,324,325 |
Trade | Commercial loans | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 2,066,372 | 2,324,325 |
Trade | Cash collateral on securities borrowed and reverse repurchase agreements | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 40,642 | 37,520 |
Trade | Financial Instruments Available For Sale [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | ||
Trade | Financial Instruments Available For Sale [Member] | Other instruments issued in Chile | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | ||
Trade | Instruments issued in Chile | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | ||
Trade | Instruments issued abroad | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | ||
Trade | Equity Instruments | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | ||
Services | Derivative contracts for trading purposes | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 687 | 74,582 |
Services | Swaps | Derivative contracts for trading purposes | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 74,250 | |
Services | Forward Contract [Member] | Derivative contracts for trading purposes | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 497 | 296 |
Services | Put Options | Derivative contracts for trading purposes | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | ||
Services | Call Options | Derivative contracts for trading purposes | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 190 | 36 |
Services | Loans to customers | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 2,267,869 | 2,109,491 |
Services | Commercial loans | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 2,267,869 | 2,109,491 |
Services | Cash collateral on securities borrowed and reverse repurchase agreements | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 985 | |
Services | Instruments issued in Chile | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | ||
Services | Instruments issued abroad | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | ||
Services | Equity Instruments | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | ||
Other | Derivative contracts for trading purposes | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 425,280 | 325,783 |
Other | Swaps | Derivative contracts for trading purposes | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 9,923 | 655 |
Other | Forward Contract [Member] | Derivative contracts for trading purposes | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 415,319 | 325,117 |
Other | FVOCI | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 46,162 | 54,445 |
Other | FVOCI | Other instruments issued in Chile | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 46,162 | 54,445 |
Other | FVOCI | Debt Instruments | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 46,162 | 54,445 |
Other | Call Options | Derivative contracts for trading purposes | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 38 | 11 |
Other | Loans to customers | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 1,676,677 | 1,398,237 |
Other | Commercial loans | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 1,676,677 | 1,398,237 |
Other | Cash collateral on securities borrowed and reverse repurchase agreements | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 3,441 | 736 |
Other | Instruments issued in Chile | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | ||
Other | Instruments issued abroad | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | ||
Other | Equity Instruments | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | ||
Mining | Derivative contracts for trading purposes | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 2,875 | 62 |
Mining | Swaps | Derivative contracts for trading purposes | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 19 | 22 |
Mining | Forward Contract [Member] | Derivative contracts for trading purposes | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 40 | |
Mining | Loans to customers | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 604,660 | 453,549 |
Mining | Commercial loans | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 604,660 | 453,549 |
Mining | Cash collateral on securities borrowed and reverse repurchase agreements | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 2,067 | 5,017 |
Mining | Financial Instruments Available For Sale [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | ||
Mining | Financial Instruments Available For Sale [Member] | Other instruments issued in Chile | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | ||
Mining | Instruments issued in Chile | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | ||
Mining | Instruments issued abroad | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | ||
Mining | Equity Instruments | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | ||
Manufacturing | Derivative contracts for trading purposes | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 8,077 | 20,697 |
Manufacturing | Swaps | Derivative contracts for trading purposes | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 7,718 | 7,348 |
Manufacturing | Forward Contract [Member] | Derivative contracts for trading purposes | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 79 | 13,328 |
Manufacturing | Put Options | Derivative contracts for trading purposes | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 5 | |
Manufacturing | Call Options | Derivative contracts for trading purposes | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 280 | 16 |
Manufacturing | Loans to customers | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 1,624,972 | 1,579,475 |
Manufacturing | Commercial loans | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 1,624,972 | 1,579,475 |
Manufacturing | Financial Instruments Available For Sale [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | ||
Manufacturing | Financial Instruments Available For Sale [Member] | Other instruments issued in Chile | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | ||
Manufacturing | Instruments issued in Chile | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | ||
Manufacturing | Instruments issued abroad | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | ||
Manufacturing | Equity Instruments | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | ||
Government | FVOCI | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 16,238 | 29,077 |
Government | FVOCI | Instruments Issued By Chilean Government And Central Bank [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 16,238 | 29,077 |
Government | FVOCI | Debt Instruments | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 16,238 | 29,077 |
Government | Financial assets held-for-trading | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 99,164 | 88,486 |
Government | Financial assets held-for-trading | Instruments Issued By Chilean Government And Central Bank [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 99,164 | 88,486 |
Government | Cash collateral on securities borrowed and reverse repurchase agreements | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 18,460 | |
Government | Financial Instruments Available For Sale [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | ||
Government | Financial Instruments Available For Sale [Member] | Instruments Issued By Chilean Government And Central Bank [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | ||
Government | Instruments issued in Chile | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | ||
Government | Instruments issued abroad | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | ||
Government | Equity Instruments | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | ||
Financial Services | Derivative contracts for trading purposes | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 2,175,067 | 960,482 |
Financial Services | Hedge derivative contracts | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 61,594 | 35,414 |
Financial Services | Swaps | Derivative contracts for trading purposes | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 1,693,048 | 584,743 |
Financial Services | Swaps | Hedge derivative contracts | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 61,594 | 35,414 |
Financial Services | Forward Contract [Member] | Derivative contracts for trading purposes | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 480,269 | 374,006 |
Financial Services | FVOCI | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 1,023,008 | 798,951 |
Financial Services | FVOCI | Other instruments issued in Chile | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 994,658 | 680,656 |
Financial Services | FVOCI | Instruments Issued By Foreign Institutions [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 19,853 | 108,544 |
Financial Services | FVOCI | Debt Instruments | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 1,014,511 | 789,200 |
Financial Services | Put Options | Derivative contracts for trading purposes | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 554 | 64 |
Financial Services | Call Options | Derivative contracts for trading purposes | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 1,196 | 1,669 |
Financial Services | Financial assets held-for-trading | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 748,666 | 221,894 |
Financial Services | Financial assets held-for-trading | Other instruments issued in Chile | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 375,337 | 129,607 |
Financial Services | Financial assets held-for-trading | Mutual fund investments | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 373,329 | 87,841 |
Financial Services | Financial assets held-for-trading | Instruments Issued By Foreign Institutions [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 4,446 | |
Financial Services | Loans to customers | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 2,587,559 | 2,122,599 |
Financial Services | Commercial loans | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 2,587,559 | 2,122,599 |
Financial Services | Cash collateral on securities borrowed and reverse repurchase agreements | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 66,285 | 29,031 |
Financial Services | Foreign Banks | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 360,131 | 294,542 |
Financial Services | Domestic Banks | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 150,007 | 100,023 |
Financial Services | Loans and advances to banks | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 510,138 | 394,565 |
Financial Services | Cash and due from banks | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 2,213,737 | 758,274 |
Financial Services | Financial Instruments Available For Sale [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | ||
Financial Services | Financial Instruments Available For Sale [Member] | Other instruments issued in Chile | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | ||
Financial Services | Financial Instruments Available For Sale [Member] | Instruments Issued By Foreign Institutions [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | ||
Financial Services | Instruments issued in Chile | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 7,446 | 8,939 |
Financial Services | Instruments issued abroad | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 1,051 | 812 |
Financial Services | Equity Instruments | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 8,497 | 9,751 |
Fishing | Derivative contracts for trading purposes | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 5,088 | 2,740 |
Fishing | Swaps | Derivative contracts for trading purposes | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 4,275 | 2,249 |
Fishing | Forward Contract [Member] | Derivative contracts for trading purposes | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 642 | 411 |
Fishing | Call Options | Derivative contracts for trading purposes | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 171 | 80 |
Fishing | Loans to customers | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 140,709 | 156,472 |
Fishing | Commercial loans | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 140,709 | 156,472 |
Fishing | Cash collateral on securities borrowed and reverse repurchase agreements | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 35 | 59 |
Fishing | Instruments issued in Chile | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | ||
Fishing | Instruments issued abroad | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | ||
Fishing | Equity Instruments | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | ||
Electricity, Gas and Water | Derivative contracts for trading purposes | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 37,087 | 15,404 |
Electricity, Gas and Water | Swaps | Derivative contracts for trading purposes | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 14,184 | 4,026 |
Electricity, Gas and Water | Forward Contract [Member] | Derivative contracts for trading purposes | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 22,903 | 10,288 |
Electricity, Gas and Water | FVOCI | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 9,667 | 8,245 |
Electricity, Gas and Water | FVOCI | Other instruments issued in Chile | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 9,667 | 8,245 |
Electricity, Gas and Water | FVOCI | Debt Instruments | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 9,667 | 8,245 |
Electricity, Gas and Water | Call Options | Derivative contracts for trading purposes | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 1,090 | |
Electricity, Gas and Water | Loans to customers | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 325,143 | 461,351 |
Electricity, Gas and Water | Commercial loans | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 325,143 | 461,351 |
Electricity, Gas and Water | Cash collateral on securities borrowed and reverse repurchase agreements | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 1,533 | 4,466 |
Electricity, Gas and Water | Financial Instruments Available For Sale [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | ||
Electricity, Gas and Water | Financial Instruments Available For Sale [Member] | Other instruments issued in Chile | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | ||
Electricity, Gas and Water | Instruments issued in Chile | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | ||
Electricity, Gas and Water | Instruments issued abroad | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | ||
Electricity, Gas and Water | Equity Instruments | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | ||
Construction | Derivative contracts for trading purposes | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 571 | 1,194 |
Construction | Debt Instruments | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 178,444 | |
Construction | Swaps | Derivative contracts for trading purposes | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 210 | 680 |
Construction | Forward Contract [Member] | Derivative contracts for trading purposes | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 277 | 455 |
Construction | FVOCI | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 178,444 | |
Construction | FVOCI | Other instruments issued in Chile | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 178,444 | |
Construction | Put Options | Derivative contracts for trading purposes | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | ||
Construction | Call Options | Derivative contracts for trading purposes | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 84 | 59 |
Construction | Loans to customers | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 2,142,699 | 1,752,237 |
Construction | Commercial loans | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 2,142,699 | 1,752,237 |
Construction | Instruments issued in Chile | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | ||
Construction | Instruments issued abroad | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | ||
Construction | Equity Instruments | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | ||
Chilean Central Bank | FVOCI | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 92,824 | 135,145 |
Chilean Central Bank | FVOCI | Instruments Issued By Chilean Government And Central Bank [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 92,824 | 135,145 |
Chilean Central Bank | FVOCI | Debt Instruments | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 92,824 | 135,145 |
Chilean Central Bank | Financial assets held-for-trading | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 1,024,525 | 1,434,986 |
Chilean Central Bank | Financial assets held-for-trading | Instruments Issued By Chilean Government And Central Bank [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 1,024,525 | 1,434,986 |
Chilean Central Bank | Cash collateral on securities borrowed and reverse repurchase agreements | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 742 | |
Chilean Central Bank | Loans and advances to banks | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 630,053 | 1,100,831 |
Chilean Central Bank | Cash and due from banks | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 178,429 | 121,807 |
Chilean Central Bank | Chilean Central Bank | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 630,053 | 1,100,831 |
Chilean Central Bank | Financial Instruments Available For Sale [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | ||
Chilean Central Bank | Financial Instruments Available For Sale [Member] | Instruments Issued By Chilean Government And Central Bank [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | ||
Chilean Central Bank | Instruments issued in Chile | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | ||
Chilean Central Bank | Instruments issued abroad | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | ||
Chilean Central Bank | Equity Instruments | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | ||
Agriculture and livestock | Derivative contracts for trading purposes | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 25,768 | 15,706 |
Agriculture and livestock | Swaps | Derivative contracts for trading purposes | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 10,232 | 10,006 |
Agriculture and livestock | Forward Contract [Member] | Derivative contracts for trading purposes | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 14,103 | 4,211 |
Agriculture and livestock | Put Options | Derivative contracts for trading purposes | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | ||
Agriculture and livestock | Call Options | Derivative contracts for trading purposes | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 1,433 | 1,489 |
Agriculture and livestock | Loans to customers | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 1,623,465 | 1,582,520 |
Agriculture and livestock | Commercial loans | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 1,623,465 | 1,582,520 |
Agriculture and livestock | Cash collateral on securities borrowed and reverse repurchase agreements | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 902 | 3,096 |
Agriculture and livestock | Financial Instruments Available For Sale [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | ||
Agriculture and livestock | Financial Instruments Available For Sale [Member] | Other instruments issued in Chile | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | ||
Agriculture and livestock | Instruments issued in Chile | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | ||
Agriculture and livestock | Instruments issued abroad | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | ||
Agriculture and livestock | Equity Instruments | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | ||
Retail | Loans to customers | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 13,739,060 | 12,488,234 |
Retail | Mortgages | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 9,206,727 | 8,052,073 |
Retail | Consumer loans | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | 4,532,333 | 4,436,161 |
Retail | Instruments issued in Chile | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | ||
Retail | Instruments issued abroad | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets | ||
Retail | Equity Instruments | ||
Disclosure of credit risk exposure [line items] | ||
Financial assets |
Risk Management - Collateral an
Risk Management - Collateral and Other Enhancements (Details) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of guarantee values [line items] | |||
Maximum exposure to credit risk | $ 1,366,343 | $ 1,053,191 | |
Loans to customers | |||
Disclosure of guarantee values [line items] | |||
Maximum exposure to credit risk | 30,033,272 | 27,926,632 | |
Fair value of loans covered by collateral | |||
Mortgages | 13,948,027 | 13,391,818 | |
Pledge | [1] | 113,848 | 107,400 |
Securities | 374,141 | 455,039 | |
Warrants | 2,182 | 2,263 | |
Others | 302,423 | 313,149 | |
Net collateral | 14,740,621 | 14,269,669 | |
Net exposure | 15,292,651 | 13,656,963 | |
Corporate lending | |||
Disclosure of guarantee values [line items] | |||
Maximum exposure to credit risk | 11,705,859 | ||
Fair value of loans covered by collateral | |||
Mortgages | 2,453,533 | 2,589,429 | |
Pledge | [1] | 82,365 | 75,105 |
Securities | 345,246 | 423,556 | |
Warrants | 2,182 | 2,263 | |
Others | 207,052 | 221,919 | |
Net collateral | 3,090,378 | 3,312,272 | |
Net exposure | 9,027,346 | 8,393,587 | |
Small business lending | |||
Disclosure of guarantee values [line items] | |||
Maximum exposure to credit risk | 4,176,488 | 3,732,539 | |
Fair value of loans covered by collateral | |||
Mortgages | 3,133,480 | 2,977,286 | |
Pledge | [1] | 30,466 | 31,270 |
Securities | 26,674 | 28,974 | |
Warrants | |||
Others | 74,725 | 71,140 | |
Net collateral | 3,265,345 | 3,108,670 | |
Net exposure | 911,143 | 623,869 | |
Consumer Loans [Member] | |||
Disclosure of guarantee values [line items] | |||
Maximum exposure to credit risk | 4,532,333 | 4,436,161 | |
Fair value of loans covered by collateral | |||
Mortgages | 341,495 | 332,030 | |
Pledge | [1] | 966 | 967 |
Securities | 2,045 | 2,244 | |
Warrants | |||
Others | 20,646 | 20,090 | |
Net collateral | 365,152 | 355,331 | |
Net exposure | 4,167,181 | 4,080,830 | |
Mortgages | |||
Disclosure of guarantee values [line items] | |||
Maximum exposure to credit risk | 9,206,727 | 8,052,073 | |
Fair value of loans covered by collateral | |||
Mortgages | 8,019,519 | 7,493,073 | |
Pledge | [1] | 51 | 58 |
Securities | 176 | 265 | |
Warrants | |||
Others | |||
Net collateral | 8,019,746 | 7,493,396 | |
Net exposure | $ 1,186,981 | $ 558,677 | |
[1] | Includes agricultural and industrial pledges and pledges without conveyance. |
Risk Management - Financial ass
Risk Management - Financial assets past dues and aging analysis (Details) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of financial assets that are either past due or impaired [line items] | ||
Loans | $ 29,138,740 | $ 27,100,290 |
Financial Assets Neither Past Due Nor Impaired [Member] | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Loans | 28,320,610 | 26,376,542 |
Later Than Two Months And Not Later Than Three Months [Member] | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial Assets | 118,367 | 98,006 |
Later Than Two Months And Not Later Than Three Months [Member] | Financial Assets Past Due But Not Impaired [Member] | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Loans | 57,946 | 37,371 |
Later Than One Month And Not Later Than Two Months [Member] | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial Assets | 243,103 | 227,509 |
Later Than One Month And Not Later Than Two Months [Member] | Financial Assets Past Due But Not Impaired [Member] | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Loans | 159,756 | 145,130 |
Current [Member] | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial Assets | 715,398 | 657,171 |
Current [Member] | Financial Assets Past Due But Not Impaired [Member] | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Loans | 599,833 | 538,681 |
Later Than Three Months [Member] | Financial Assets Past Due But Not Impaired [Member] | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Loans | 595 | 2,566 |
Commercial Loans | Later Than Two Months And Not Later Than Three Months [Member] | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial Assets | 26,698 | 27,527 |
Commercial Loans | Later Than One Month And Not Later Than Two Months [Member] | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial Assets | 54,366 | 40,823 |
Commercial Loans | Current [Member] | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial Assets | 213,709 | 132,707 |
Import Export Financing [Member] | Later Than Two Months And Not Later Than Three Months [Member] | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial Assets | 1,207 | 618 |
Import Export Financing [Member] | Later Than One Month And Not Later Than Two Months [Member] | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial Assets | 804 | 2,194 |
Import Export Financing [Member] | Current [Member] | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial Assets | 9,562 | 13,892 |
Factoring [Member] | Later Than Two Months And Not Later Than Three Months [Member] | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial Assets | 336 | 726 |
Factoring [Member] | Later Than One Month And Not Later Than Two Months [Member] | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial Assets | 3,022 | 7,540 |
Factoring [Member] | Current [Member] | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial Assets | 31,972 | 44,106 |
Commercial Lease [Member] | Later Than Two Months And Not Later Than Three Months [Member] | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial Assets | 4,722 | 3,230 |
Commercial Lease [Member] | Later Than One Month And Not Later Than Two Months [Member] | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial Assets | 8,073 | 6,166 |
Commercial Lease [Member] | Current [Member] | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial Assets | 53,742 | 92,057 |
Mortgages [Member] | Later Than Two Months And Not Later Than Three Months [Member] | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial Assets | 32,907 | 24,653 |
Mortgages [Member] | Later Than One Month And Not Later Than Two Months [Member] | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial Assets | 73,801 | 67,257 |
Mortgages [Member] | Current [Member] | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial Assets | 152,539 | 154,751 |
Consumer Loans [Member] | Later Than Two Months And Not Later Than Three Months [Member] | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial Assets | 51,976 | 40,782 |
Consumer Loans [Member] | Later Than One Month And Not Later Than Two Months [Member] | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial Assets | 102,344 | 102,752 |
Consumer Loans [Member] | Current [Member] | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial Assets | 221,162 | 217,923 |
Past Due Loans To Customers [Member] | Later Than Two Months And Not Later Than Three Months [Member] | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial Assets | 118,367 | 98,006 |
Past Due Loans To Customers [Member] | Later Than One Month And Not Later Than Two Months [Member] | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial Assets | 243,103 | 227,509 |
Past Due Loans To Customers [Member] | Current [Member] | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial Assets | 684,149 | 656,898 |
Past Due Loans And Advances To Banks [Member] | Current [Member] | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial Assets | 31,249 | 273 |
Other Loans And Receivables [Member] | Later Than Two Months And Not Later Than Three Months [Member] | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial Assets | 521 | 470 |
Other Loans And Receivables [Member] | Later Than One Month And Not Later Than Two Months [Member] | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial Assets | 693 | 777 |
Other Loans And Receivables [Member] | Current [Member] | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial Assets | 1,463 | 1,462 |
Loans And Advances To Banks [Member] | Current [Member] | ||
Disclosure of financial assets that are either past due or impaired [line items] | ||
Financial Assets | $ 31,249 | $ 273 |
Risk Management - Renegotiated
Risk Management - Renegotiated Assets (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2019CLP ($) | |
Facilities that have cured since modification and are now measured using 12mECLs (Stage 1) | |
Disclosure of renegotiated assets [line items] | |
Gross carrying amount, Post modification | $ 32,105 |
Corresponding ECL, Post modification | 3,668 |
Gross carrying amount, Pre-modification | 32,870 |
Corresponding ECL, Pre-modification | 7,577 |
Facilities that reverted to (Stage 2/3) lifetime ECLs having once cured | |
Disclosure of renegotiated assets [line items] | |
Gross carrying amount, Post modification | 4,043 |
Corresponding ECL, Post modification | 1,132 |
Gross carrying amount, Pre-modification | 3,927 |
Corresponding ECL, Pre-modification | $ 613 |
Risk Management - Liquidity Ris
Risk Management - Liquidity Risk (Details) - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2019 | |
Transactions in the course of payment | ||
Contractual maturity of the financial liabilities | ||
Financial liabilities | $ 44,436 | $ 98,869 |
Other financial obligations | ||
Contractual maturity of the financial liabilities | ||
Financial liabilities | 117,290 | 160,725 |
Non - delivery derivative transactions | ||
Contractual maturity of the financial liabilities | ||
Financial liabilities | 4,445,610 | 5,988,836 |
Liabilities excluding non-delivery derivative transactions [member] | ||
Contractual maturity of the financial liabilities | ||
Financial liabilities | 34,003,780 | 38,830,423 |
Obligations under repurchase agreements {Member] | ||
Contractual maturity of the financial liabilities | ||
Financial liabilities | 298,808 | 305,593 |
Full delivery derivative transactions | ||
Contractual maturity of the financial liabilities | ||
Financial liabilities | 2,902,446 | 4,303,344 |
Debt instruments issued | ||
Contractual maturity of the financial liabilities | ||
Financial liabilities | 8,707,933 | 10,135,540 |
Borrowings from financial institutions | ||
Contractual maturity of the financial liabilities | ||
Financial liabilities | 1,496,612 | 1,558,026 |
Savings accounts and time deposits | ||
Contractual maturity of the financial liabilities | ||
Financial liabilities | 10,851,767 | 10,942,193 |
Current accounts and other demand deposits | ||
Contractual maturity of the financial liabilities | ||
Financial liabilities | $ 9,584,488 | 11,326,133 |
Up to 1 month | ||
Currency's risk used as a percentage of Tier-1 Capital | ||
Adjusted C46 All CCYs as part of Tier-1 Capital | 1.00% | |
Adjusted C46 FCCY as part of Tier-1 Capital | 1.00% | |
Up to 1 month | Transactions in the course of payment | ||
Contractual maturity of the financial liabilities | ||
Financial liabilities | $ 44,436 | 98,869 |
Up to 1 month | Other financial obligations | ||
Contractual maturity of the financial liabilities | ||
Financial liabilities | 92,896 | 142,010 |
Up to 1 month | Non - delivery derivative transactions | ||
Contractual maturity of the financial liabilities | ||
Financial liabilities | 297,613 | 501,461 |
Up to 1 month | Liabilities excluding non-delivery derivative transactions [member] | ||
Contractual maturity of the financial liabilities | ||
Financial liabilities | 15,909,209 | 18,910,434 |
Up to 1 month | Obligations under repurchase agreements {Member] | ||
Contractual maturity of the financial liabilities | ||
Financial liabilities | 292,231 | 297,011 |
Up to 1 month | Full delivery derivative transactions | ||
Contractual maturity of the financial liabilities | ||
Financial liabilities | 351,496 | 378,151 |
Up to 1 month | Debt instruments issued | ||
Contractual maturity of the financial liabilities | ||
Financial liabilities | 101,707 | 178,310 |
Up to 1 month | Borrowings from financial institutions | ||
Contractual maturity of the financial liabilities | ||
Financial liabilities | 97,661 | 68,843 |
Up to 1 month | Savings accounts and time deposits | ||
Contractual maturity of the financial liabilities | ||
Financial liabilities | 5,344,294 | 6,421,107 |
Up to 1 month | Current accounts and other demand deposits | ||
Contractual maturity of the financial liabilities | ||
Financial liabilities | $ 9,584,488 | 11,326,133 |
3 months | ||
Currency's risk used as a percentage of Tier-1 Capital | ||
Adjusted C46 All CCYs as part of Tier-1 Capital | 2.00% | |
Over 3 years and up to 5 years | Other financial obligations | ||
Contractual maturity of the financial liabilities | ||
Financial liabilities | $ 366 | 167 |
Over 3 years and up to 5 years | Non - delivery derivative transactions | ||
Contractual maturity of the financial liabilities | ||
Financial liabilities | 593,431 | 738,830 |
Over 3 years and up to 5 years | Liabilities excluding non-delivery derivative transactions [member] | ||
Contractual maturity of the financial liabilities | ||
Financial liabilities | 2,437,020 | 2,752,088 |
Over 3 years and up to 5 years | Full delivery derivative transactions | ||
Contractual maturity of the financial liabilities | ||
Financial liabilities | 536,506 | 669,851 |
Over 3 years and up to 5 years | Debt instruments issued | ||
Contractual maturity of the financial liabilities | ||
Financial liabilities | 1,899,529 | 2,081,579 |
Over 3 years and up to 5 years | Savings accounts and time deposits | ||
Contractual maturity of the financial liabilities | ||
Financial liabilities | 619 | 491 |
Over 3 months and up to 12 months [Member] | Other financial obligations | ||
Contractual maturity of the financial liabilities | ||
Financial liabilities | 4,857 | 17,529 |
Over 3 months and up to 12 months [Member] | Non - delivery derivative transactions | ||
Contractual maturity of the financial liabilities | ||
Financial liabilities | 1,028,798 | 1,461,804 |
Over 3 months and up to 12 months [Member] | Liabilities excluding non-delivery derivative transactions [member] | ||
Contractual maturity of the financial liabilities | ||
Financial liabilities | 5,482,641 | 4,910,564 |
Over 3 months and up to 12 months [Member] | Obligations under repurchase agreements {Member] | ||
Contractual maturity of the financial liabilities | ||
Financial liabilities | 5,137 | |
Over 3 months and up to 12 months [Member] | Full delivery derivative transactions | ||
Contractual maturity of the financial liabilities | ||
Financial liabilities | 648,870 | 1,132,429 |
Over 3 months and up to 12 months [Member] | Debt instruments issued | ||
Contractual maturity of the financial liabilities | ||
Financial liabilities | 724,724 | 576,309 |
Over 3 months and up to 12 months [Member] | Borrowings from financial institutions | ||
Contractual maturity of the financial liabilities | ||
Financial liabilities | 946,950 | 934,144 |
Over 3 months and up to 12 months [Member] | Savings accounts and time deposits | ||
Contractual maturity of the financial liabilities | ||
Financial liabilities | 3,152,103 | 2,250,153 |
Over 1 year and up to 3 years | Other financial obligations | ||
Contractual maturity of the financial liabilities | ||
Financial liabilities | 18,406 | 727 |
Over 1 year and up to 3 years | Non - delivery derivative transactions | ||
Contractual maturity of the financial liabilities | ||
Financial liabilities | 712,286 | 796,805 |
Over 1 year and up to 3 years | Liabilities excluding non-delivery derivative transactions [member] | ||
Contractual maturity of the financial liabilities | ||
Financial liabilities | 2,568,404 | 3,557,823 |
Over 1 year and up to 3 years | Full delivery derivative transactions | ||
Contractual maturity of the financial liabilities | ||
Financial liabilities | 582,628 | 974,371 |
Over 1 year and up to 3 years | Debt instruments issued | ||
Contractual maturity of the financial liabilities | ||
Financial liabilities | 1,410,766 | 2,091,841 |
Over 1 year and up to 3 years | Borrowings from financial institutions | ||
Contractual maturity of the financial liabilities | ||
Financial liabilities | 183,206 | 206,811 |
Over 1 year and up to 3 years | Savings accounts and time deposits | ||
Contractual maturity of the financial liabilities | ||
Financial liabilities | 373,398 | 284,073 |
Over 1 month and up to 3 months | Other financial obligations | ||
Contractual maturity of the financial liabilities | ||
Financial liabilities | 730 | 292 |
Over 1 month and up to 3 months | Non - delivery derivative transactions | ||
Contractual maturity of the financial liabilities | ||
Financial liabilities | 604,200 | 839,534 |
Over 1 month and up to 3 months | Liabilities excluding non-delivery derivative transactions [member] | ||
Contractual maturity of the financial liabilities | ||
Financial liabilities | 2,710,494 | 2,884,730 |
Over 1 month and up to 3 months | Obligations under repurchase agreements {Member] | ||
Contractual maturity of the financial liabilities | ||
Financial liabilities | 1,440 | 8,582 |
Over 1 month and up to 3 months | Full delivery derivative transactions | ||
Contractual maturity of the financial liabilities | ||
Financial liabilities | 190,643 | 351,351 |
Over 1 month and up to 3 months | Debt instruments issued | ||
Contractual maturity of the financial liabilities | ||
Financial liabilities | 267,665 | 190,329 |
Over 1 month and up to 3 months | Borrowings from financial institutions | ||
Contractual maturity of the financial liabilities | ||
Financial liabilities | 268,795 | 348,228 |
Over 1 month and up to 3 months | Savings accounts and time deposits | ||
Contractual maturity of the financial liabilities | ||
Financial liabilities | 1,981,221 | 1,985,948 |
Over 5 years | Other financial obligations | ||
Contractual maturity of the financial liabilities | ||
Financial liabilities | 35 | |
Over 5 years | Non - delivery derivative transactions | ||
Contractual maturity of the financial liabilities | ||
Financial liabilities | 1,209,282 | 1,650,402 |
Over 5 years | Liabilities excluding non-delivery derivative transactions [member] | ||
Contractual maturity of the financial liabilities | ||
Financial liabilities | 4,896,012 | 5,814,784 |
Over 5 years | Full delivery derivative transactions | ||
Contractual maturity of the financial liabilities | ||
Financial liabilities | 592,303 | 797,191 |
Over 5 years | Debt instruments issued | ||
Contractual maturity of the financial liabilities | ||
Financial liabilities | 4,303,542 | 5,017,172 |
Over 5 years | Savings accounts and time deposits | ||
Contractual maturity of the financial liabilities | ||
Financial liabilities | $ 132 | $ 421 |
Risk Management - Price Risk (D
Risk Management - Price Risk (Details) - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2019 | |
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Confidence level for calculation of value at risk | 99.00% | |
Observation period for calculation of value at risk | 1 year | |
Adverse impact period for calculation of earnings at risk | 12 months | |
Fluctuation rate for liquid FX rates | 8.00% | |
Fluctuation rate for illiquid FX rates | 30.00% | |
Portion of tier 1 and tier 2 capital from risk weighted assets | 10.00% | |
Regulatory market risk measurement for trading portfolio as percentage of tier 1 and tier 2 capital limit | 100.00% | |
Total Assets | $ 37,507,941 | $ 40,707,996 |
Total Liabilities | 32,315,688 | 35,927,110 |
Derivative instruments under hedge-accounting treatment | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Liabilities | 1,513,050 | 1,744,185 |
Other liabilities | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Liabilities | 117,290 | 160,725 |
Instrument sold under repurchase agreements and security lending | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Liabilities | 6,963 | |
Inter-banking loans | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Liabilities | 1,496,612 | 1,549,514 |
Savings accounts and time deposits | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Liabilities | 10,851,767 | 10,942,193 |
Long-term debt | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Liabilities | 8,707,933 | 10,135,540 |
Current accounts and other demand deposits | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Liabilities | 9,622,073 | 11,382,462 |
Up to 1 month | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Assets | 4,615,607 | 6,668,843 |
Total Liabilities | 15,194,511 | |
Up to 1 month | Derivative instruments under hedge-accounting treatment | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Liabilities | 115 | 156 |
Up to 1 month | Other liabilities | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Liabilities | 92,896 | 142,010 |
Up to 1 month | Instrument sold under repurchase agreements and security lending | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Liabilities | 6,963 | |
Up to 1 month | Inter-banking loans | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Liabilities | 97,661 | 60,331 |
Up to 1 month | Savings accounts and time deposits | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Liabilities | 5,273,096 | 6,421,107 |
Up to 1 month | Long-term debt | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Liabilities | 101,707 | 178,310 |
Up to 1 month | Current accounts and other demand deposits | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Liabilities | 9,622,073 | 11,382,462 |
Over 3 years and up to 5 years | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Assets | 4,210,281 | |
Total Liabilities | 2,122,715 | |
Over 3 years and up to 5 years | Derivative instruments under hedge-accounting treatment | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Liabilities | 222,201 | 317,886 |
Over 3 years and up to 5 years | Other liabilities | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Liabilities | 366 | 167 |
Over 3 years and up to 5 years | Savings accounts and time deposits | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Liabilities | 619 | 491 |
Over 3 years and up to 5 years | Long-term debt | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Liabilities | 1,899,529 | 2,081,579 |
Over 3 months and up to 12 months [Member] | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Assets | 6,579,800 | 7,474,874 |
Total Liabilities | 5,071,785 | |
Over 3 months and up to 12 months [Member] | Derivative instruments under hedge-accounting treatment | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Liabilities | 243,151 | 23,300 |
Over 3 months and up to 12 months [Member] | Other liabilities | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Liabilities | 4,857 | 17,529 |
Over 3 months and up to 12 months [Member] | Inter-banking loans | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Liabilities | 946,950 | 934,144 |
Over 3 months and up to 12 months [Member] | Savings accounts and time deposits | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Liabilities | 3,152,103 | 2,250,153 |
Over 3 months and up to 12 months [Member] | Long-term debt | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Liabilities | 724,724 | 576,309 |
Over 1 year and up to 3 years | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Assets | 8,749,175 | 7,352,945 |
Total Liabilities | 2,173,298 | |
Over 1 year and up to 3 years | Derivative instruments under hedge-accounting treatment | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Liabilities | 187,522 | 251,136 |
Over 1 year and up to 3 years | Other liabilities | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Liabilities | 18,406 | 727 |
Over 1 year and up to 3 years | Inter-banking loans | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Liabilities | 183,206 | |
Over 1 year and up to 3 years | Savings accounts and time deposits | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Liabilities | 373,398 | 284,073 |
Over 1 year and up to 3 years | Long-term debt | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Liabilities | 1,410,766 | 2,091,841 |
Over 1 month and up to 3 months | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Assets | 2,684,606 | 2,900,585 |
Total Liabilities | 2,662,936 | |
Over 1 month and up to 3 months | Derivative instruments under hedge-accounting treatment | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Liabilities | 144,525 | 33,740 |
Over 1 month and up to 3 months | Other liabilities | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Liabilities | 730 | 292 |
Over 1 month and up to 3 months | Inter-banking loans | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Liabilities | 268,795 | 348,228 |
Over 1 month and up to 3 months | Savings accounts and time deposits | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Liabilities | 1,981,221 | 1,985,948 |
Over 1 month and up to 3 months | Long-term debt | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Liabilities | 267,665 | 190,329 |
Over 5 years | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Assets | 10,668,472 | 11,956,483 |
Total Liabilities | 5,090,443 | |
Over 5 years | Derivative instruments under hedge-accounting treatment | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Liabilities | 715,536 | 1,117,967 |
Over 5 years | Other liabilities | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Liabilities | 35 | |
Over 5 years | Savings accounts and time deposits | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Liabilities | 71,330 | 421 |
Over 5 years | Long-term debt | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Liabilities | 4,303,542 | 5,017,172 |
Over 3 years and up to 5 years | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Assets | 4,354,266 | |
Total Liabilities | ||
FVOCI | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Assets | 1,044,570 | |
FVOCI | Up to 1 month | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Assets | 48,469 | |
FVOCI | Over 3 years and up to 5 years | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Assets | 58,093 | |
FVOCI | Over 3 months and up to 12 months [Member] | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Assets | 408,390 | |
FVOCI | Over 1 year and up to 3 years | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Assets | 146,136 | |
FVOCI | Over 1 month and up to 3 months | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Assets | 153,479 | |
FVOCI | Over 5 years | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Assets | 230,003 | |
Transactions In Course Of Collection [Member] | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Assets | 151,701 | 230,605 |
Transactions In Course Of Collection [Member] | Up to 1 month | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Assets | 151,701 | 230,605 |
Investment under resale agreements [Member] | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Assets | 3,161 | 45,056 |
Investment under resale agreements [Member] | Up to 1 month | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Assets | 3,161 | 45,056 |
Loans to customers | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Assets | 32,447,692 | 33,881,275 |
Loans to customers | Up to 1 month | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Assets | 2,305,334 | 3,179,665 |
Loans to customers | Over 3 years and up to 5 years | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Assets | 3,923,096 | 3,980,097 |
Loans to customers | Over 3 months and up to 12 months [Member] | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Assets | 5,784,455 | 6,473,441 |
Loans to customers | Over 1 year and up to 3 years | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Assets | 8,402,372 | 6,979,231 |
Loans to customers | Over 1 month and up to 3 months | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Assets | 2,311,297 | 2,524,282 |
Loans to customers | Over 5 years | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Assets | 9,721,138 | 10,744,559 |
Inter-banking loans | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Assets | 1,499,974 | 1,142,468 |
Inter-banking loans | Up to 1 month | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Assets | 1,262,749 | 876,508 |
Inter-banking loans | Over 3 months and up to 12 months [Member] | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Assets | 133,689 | 167,287 |
Inter-banking loans | Over 1 year and up to 3 years | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Assets | 24,337 | |
Inter-banking loans | Over 1 month and up to 3 months | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Assets | 79,199 | 98,673 |
Derivative instruments under hedge-accounting treatment | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Assets | 1,516,670 | 1,742,158 |
Derivative instruments under hedge-accounting treatment | Up to 1 month | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Assets | 20 | 774 |
Derivative instruments under hedge-accounting treatment | Over 3 years and up to 5 years | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Assets | 229,092 | 348,950 |
Derivative instruments under hedge-accounting treatment | Over 3 months and up to 12 months [Member] | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Assets | 253,266 | 28,302 |
Derivative instruments under hedge-accounting treatment | Over 1 year and up to 3 years | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Assets | 176,330 | 257,909 |
Derivative instruments under hedge-accounting treatment | Over 1 month and up to 3 months | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Assets | 36,304 | 140,631 |
Derivative instruments under hedge-accounting treatment | Over 5 years | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Assets | 717,331 | 1,069,919 |
Cash and due from banks | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Assets | 844,173 | 2,310,055 |
Cash and due from banks | Up to 1 month | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Assets | $ 844,173 | 2,310,055 |
FVOCI | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Assets | 1,356,379 | |
FVOCI | Up to 1 month | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Assets | 26,180 | |
FVOCI | Over 3 years and up to 5 years | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Assets | 25,219 | |
FVOCI | Over 3 months and up to 12 months [Member] | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Assets | 805,844 | |
FVOCI | Over 1 year and up to 3 years | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Assets | 115,805 | |
FVOCI | Over 1 month and up to 3 months | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Assets | 241,326 | |
FVOCI | Over 5 years | ||
Disclosure of maturity analysis for financial assets held for managing price risk [line items] | ||
Total Assets | $ 142,005 |
Risk Management - Price Risk Se
Risk Management - Price Risk Sensitivity Analysis (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2019CLP ($) | |
Most Adverse Stress Scenario p&L Impact Trading Book | |
Most adverse stress scenario p&l impact trading book due to Interest rate (bps) | $ (15,675) |
Most adverse stress scenario p&l impact trading book due to foreign exchange | (16) |
Most adverse stress scenario p&l impact trading book due to options | 224 |
Total amount of most adverse stress scenario p&l impact trading book | (15,467) |
12-Months NRFF IMPACT ACCRUAL BOOK | |
Impact by Base Interest Rate shocks | (164,322) |
Impact due to Spreads Shocks | (67) |
Higher / (Lower) Net revenues | (164,389) |
Interest rate USD, EUR, JPY, etc. Domestic/offshore | |
Most Adverse Stress Scenario p&L Impact Trading Book | |
Most adverse stress scenario p&l impact trading book due to Interest rate (bps) | (1,963) |
Domestic/offshore interest rate spread USD, EUR, JPY | |
Most Adverse Stress Scenario p&L Impact Trading Book | |
Most adverse stress scenario p&l impact trading book due to Interest rate (bps) | (50) |
CLF [Member] | |
Most Adverse Stress Scenario p&L Impact Trading Book | |
Most adverse stress scenario p&l impact trading book due to Interest rate (bps) | (4,968) |
CLF [Member] | Derivatives | |
Most Adverse Stress Scenario p&L Impact Trading Book | |
Most adverse stress scenario p&l impact trading book due to Interest rate (bps) | $ (3,006) |
CLF [Member] | Derivatives | Due within 1 year | |
Adverse scenario market factors fluctuations | |
Reasonably possible increase (decrease) in risk assumption (bps) | 103 |
CLF [Member] | Derivatives | Over 1 year | |
Adverse scenario market factors fluctuations | |
Reasonably possible increase (decrease) in risk assumption (bps) | 38 |
CLF [Member] | Bonds / Debt instruments | |
Most Adverse Stress Scenario p&L Impact Trading Book | |
Most adverse stress scenario p&l impact trading book due to Interest rate (bps) | $ (1,962) |
CLF [Member] | Bonds / Debt instruments | Due within 1 year | |
Adverse scenario market factors fluctuations | |
Reasonably possible increase (decrease) in risk assumption (bps) | 47 |
CLF [Member] | Bonds / Debt instruments | Over 1 year | |
Adverse scenario market factors fluctuations | |
Reasonably possible increase (decrease) in risk assumption (bps) | 69 |
CLF | |
Most Adverse Stress Scenario p&L Impact Trading Book | |
Most adverse stress scenario p&l impact trading book due to Interest rate (bps) | $ (8,694) |
CLF | Derivatives | |
Most Adverse Stress Scenario p&L Impact Trading Book | |
Most adverse stress scenario p&l impact trading book due to Interest rate (bps) | $ (2,600) |
CLF | Derivatives | Due within 1 year | |
Adverse scenario market factors fluctuations | |
Reasonably possible increase (decrease) in risk assumption (bps) | 163 |
CLF | Derivatives | Over 1 year | |
Adverse scenario market factors fluctuations | |
Reasonably possible increase (decrease) in risk assumption (bps) | 92 |
CLF | Bonds / Debt instruments | |
Most Adverse Stress Scenario p&L Impact Trading Book | |
Most adverse stress scenario p&l impact trading book due to Interest rate (bps) | $ (6,094) |
CLF | Bonds / Debt instruments | Due within 1 year | |
Adverse scenario market factors fluctuations | |
Reasonably possible increase (decrease) in risk assumption (bps) | 108 |
CLF | Bonds / Debt instruments | Over 1 year | |
Adverse scenario market factors fluctuations | |
Reasonably possible increase (decrease) in risk assumption (bps) | 123 |
U S D [Member] | Interest rate USD, EUR, JPY, etc. Domestic/offshore | Due within 1 year | |
Adverse scenario market factors fluctuations | |
Reasonably possible increase (decrease) in risk assumption (bps) | (9) |
U S D [Member] | Interest rate USD, EUR, JPY, etc. Domestic/offshore | Over 1 year | |
Adverse scenario market factors fluctuations | |
Reasonably possible increase (decrease) in risk assumption (bps) | (2) |
U S D [Member] | Domestic/offshore interest rate spread USD, EUR, JPY | Due within 1 year | |
Adverse scenario market factors fluctuations | |
Reasonably possible increase (decrease) in risk assumption (bps) | (62) |
U S D [Member] | Domestic/offshore interest rate spread USD, EUR, JPY | Over 1 year | |
Adverse scenario market factors fluctuations | |
Reasonably possible increase (decrease) in risk assumption (bps) | (73) |
Risk Management - Capital Requi
Risk Management - Capital Requirements and Capital Management (Details) - CLP ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Ifrs compliance with regulatory capital requirements under banking regulations [line items] | |||||
Cash and due from banks | $ 2,392,166 | $ 880,081 | |||
Transactions in the course of collection | 331,420 | 289,194 | |||
Financial assets held-for-trading | 1,872,355 | 1,745,366 | |||
Derivative instruments | 2,786,215 | 1,513,947 | |||
Loans and advances to banks | 1,140,081 | 1,494,384 | |||
Loans to Customers at amortized cost | 29,384,039 | 27,341,254 | |||
Financial assets at fair value through other comprehensive income | 1,366,343 | 1,053,191 | |||
Financial assets held to maturity | |||||
Investments in other companies | 48,442 | 42,252 | $ 35,771 | $ 30,314 | |
Intangible assets | 91,717 | 85,471 | |||
Property and equipment | 220,262 | 215,872 | |||
Investment properties | 13,190 | 13,938 | $ 14,306 | $ 14,674 | |
Current tax assets | 357 | 677 | |||
Deferred tax assets | 231,293 | 176,823 | |||
Other assets | 843,000 | 651,691 | |||
TOTAL ASSETS | 41,013,874 | 35,601,430 | |||
Basic capital | [1],[2] | 3,528,222 | 3,304,152 | ||
Effective equity | 4,569,090 | 4,129,999 | |||
Total consolidated assets | [2] | 44,408,789 | 39,989,595 | ||
Total consolidated assets weighted by credit risk | $ 32,307,338 | $ 29,693,950 | |||
Basic capital / consolidated assets (as a percent) | 7.94% | 8.26% | |||
Effective equity / consolidated assets weighted by risk (as a percent) | 0.1414 | 0.1391 | |||
Credit risk | |||||
Ifrs compliance with regulatory capital requirements under banking regulations [line items] | |||||
Cash and due from banks | $ 2,392,166 | $ 880,081 | |||
Transactions in the course of collection | 331,420 | 289,194 | |||
Financial assets held-for-trading | 1,872,355 | 1,745,366 | |||
Investment under resale agreements | 142,329 | 97,289 | |||
Derivative instruments | [3] | 1,555,749 | 1,310,262 | ||
Loans and advances to banks | 1,140,081 | 1,494,384 | |||
Loans to Customers at amortized cost | 29,384,039 | 27,341,254 | |||
Financial assets at fair value through other comprehensive income | 1,366,343 | 1,053,191 | |||
Financial assets held to maturity | |||||
Investments in other companies | 48,442 | 42,252 | |||
Intangible assets | 91,717 | 85,471 | |||
Property and equipment | 220,262 | 215,872 | |||
Leased assets | 150,665 | ||||
Investment properties | 13,190 | 13,938 | |||
Current tax assets | 357 | 677 | |||
Deferred tax assets | 231,293 | 176,823 | |||
Other assets | 843,000 | 651,691 | |||
TOTAL ASSETS | 39,783,408 | 35,397,745 | |||
Contingent loans | 4,365,922 | 4,266,821 | |||
Total risk-weighted assets | 44,149,330 | 39,664,566 | |||
Risk weighted assets according to SBIF instructions | |||||
Ifrs compliance with regulatory capital requirements under banking regulations [line items] | |||||
Cash and due from banks | 38,250 | 13,084 | |||
Transactions in the course of collection | 167,781 | 186,536 | |||
Financial assets held-for-trading | 462,177 | 134,412 | |||
Investment under resale agreements | 142,329 | 97,289 | |||
Derivative instruments | [3] | 1,124,730 | 916,798 | ||
Loans and advances to banks | 389,417 | 313,524 | |||
Loans to Customers at amortized cost | 25,668,329 | 24,102,808 | |||
Financial assets at fair value through other comprehensive income | 323,160 | 356,568 | |||
Financial assets held to maturity | |||||
Investments in other companies | 50,758 | 44,561 | |||
Intangible assets | 58,307 | 52,061 | |||
Property and equipment | 220,262 | 215,872 | |||
Leased assets | 150,665 | ||||
Investment properties | |||||
Current tax assets | 36 | 68 | |||
Deferred tax assets | 32,095 | 27,792 | |||
Other assets | 862,968 | 673,380 | |||
TOTAL ASSETS | 29,691,264 | 27,134,753 | |||
Contingent loans | 2,616,074 | 2,559,197 | |||
Total risk-weighted assets | $ 32,307,338 | $ 29,693,950 | |||
[1] | The Basic Capital corresponds to the equity of the owners of the Bank in the Consolidated Statement of Financial Position. | ||||
[2] | The total consolidated assets is presented in accordance with Chilean Generally Accepted Accounting Principles as issued by the Chilean commission for Financial Market ("CMF"). As a result, it is not directly comparable with this Consolidated Statement of Financial Position. | ||||
[3] | Financial derivative contracts are presented as an equivalent credit risk for the purposes of calculating consolidated assets. |
Risk Management (Details Textua
Risk Management (Details Textual) $ in Millions | 12 Months Ended | |
Dec. 31, 2019CLP ($)Segment | Dec. 31, 2018CLP ($) | |
Disclosure of renegotiated assets [line items] | ||
Percentage of renegotiated portfolio of Banco de Chile on total loans | 1.99% | |
Redefault rate of renegotiated portfolio for retail segment (as a percent) | 35.80% | |
Average term of commercial credit renegotiated loans (in months) | 56 months | |
Amortised costs of financial assets modified during the period | $ 227,718 | |
Net modification loss | $ 81,974 | |
Maximum percentage of provisions on renegotiated loans | 99.00% | |
Period of default prior to renegotiation (in months) | 6 months | |
Maximum overdue period for provision of decrease in renegotiated payment behaviour | 30 days | |
Period for renegotiated payment behaviour | 7 months | |
Period used to test for impairment of loans | 90 days | |
Number of collateral assets | Segment | 235,878 | |
Value of guarantees, classified as impaired | $ 100,133 | $ 85,721 |
Value of guarantees, classified as non-impaired | $ 344,098 | 95,634 |
Number of directors in Finance, International and Financial Risk Committee | Segment | 4 | |
Minimum amount for review of approved application by Directors Credit Committee | $ 750,000 | |
Number of directors in Portfolio Risk Committee | Segment | 2 | |
Assets received in lieu of payment | $ 18,737 | $ 24,871 |
Annual increase in th regulatory limit of LCR | 0.1 | |
Maximum exposure to credit risk does not exceed (in percentage) | 10.00% | 10.00% |
Maximum potential loss impact on the trading book | $ 15,500 | |
Risk categories, discription | There are 5 risk categories (0%, 10%, 20%, 60% and 100%). For example, cash, deposits in other banks and financial instruments issued by the Central Bank of Chile have 0% risk, which means that, according to current standards, no capital is required to back these assets. Properties and equipment have a 100% risk, which means that they must have a minimum capital equivalent to 8% of the amount of these assets and in the case of the Bank of Chile 10%. | |
Credit Exposure Factor [Member] | ||
Disclosure of renegotiated assets [line items] | ||
Maximum percentage of provisions on renegotiated loans | 50.00% | |
Maximum exposure to credit risk does not exceed (in percentage) | 95.00% | |
Confidence level [Member] | ||
Disclosure of renegotiated assets [line items] | ||
Maximum percentage of provisions on renegotiated loans | 99.00% | |
Confidence level 1 [Member] | ||
Disclosure of renegotiated assets [line items] | ||
Maximum percentage of provisions on renegotiated loans | 99.00% |
Subsequent Events (Details)
Subsequent Events (Details) | 12 Months Ended |
Dec. 31, 2019CLP ($)$ / sharesshares | |
Disclosure of non-adjusting events after reporting period [abstract] | |
Inflation of paid capital and reserves | $ | $ 92,239,840,420 |
Percentage of dividend distribution of remaining liquid profit | 70.00% |
Dividend distribution per share | $ / shares | $ 3.47008338564 |
Ordinary shares of dividend | shares | 101,017,081,114 |
Percentage of retained liquid profit after dividend | 30.00% |
Dividend distribution profit percentage | 59.10% |