Document and Entity Information
Document and Entity Information | 12 Months Ended |
Dec. 31, 2020shares | |
Document and entity information [abstract] | |
Document Type | 20-F |
Document Registration Statement | false |
Document Annual Report | true |
Document Transition Report | false |
Document Shell Company Report | false |
Amendment Flag | false |
Document Period End Date | Dec. 31, 2020 |
Document Fiscal Year Focus | 2020 |
Document Fiscal Period Focus | FY |
Title of 12(b) Security | American Depositary Shares representing common shares |
Trading Symbol | ITCB |
Security Exchange Name | NYSE |
Entity Registrant Name | CORPBANCA/FI |
Entity Central Index Key | 0001276671 |
Current Fiscal Year End Date | --12-31 |
Entity Well-known Seasoned Issuer | Yes |
Entity Current Reporting Status | Yes |
Entity Interactive Data Current | Yes |
Entity Voluntary Filers | No |
Entity Filer Category | Large Accelerated Filer |
Entity Shell Company | false |
ICFR Auditor Attestation Flag | true |
Entity Emerging Growth Company | false |
Entity Common Stock, Shares Outstanding | 512,406,760,091 |
Consolidated Statements of Fina
Consolidated Statements of Financial Position - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
ASSETS | ||
Cash and deposits in banks | $ 3,089,072 | $ 1,009,681 |
Cash items in process of collection | 173,192 | 231,305 |
Financial instruments at fair value through profit or loss | 582,710 | 183,702 |
Financial instruments at fair value through other comprehensive income | 3,970,899 | 3,598,890 |
Interbank loans at amortized cost | 7,121 | 56,396 |
Loans and accounts receivable from customers at amortized cost | 21,576,108 | 22,254,697 |
Financial instruments at amortized cost | 111,542 | 115,658 |
Investments under resale agreements | 105,580 | 75,975 |
Financial derivative contracts | 3,982,803 | 3,154,957 |
Investment in associates | 7,149 | 9,605 |
Intangible assets | 718,683 | 1,574,433 |
Property, plant and equipment | 80,615 | 95,080 |
Right of use asset under lease agreements | 146,008 | 167,441 |
Current taxes | 64,699 | 85,516 |
Deferred taxes | 312,556 | 208,657 |
Other assets | 542,633 | 770,861 |
Other non-current assets held for sale | 15,078 | 17,202 |
TOTAL ASSETS | 35,486,448 | 33,610,056 |
LIABILITIES | ||
Deposits and other demand liabilities | 6,197,406 | 4,873,448 |
Cash in process of being cleared | 154,232 | 164,573 |
Obligations under repurchase agreements | 638,851 | 559,457 |
Time deposits and other time liabilities | 11,433,064 | 11,620,187 |
Financial derivative contracts | 3,673,591 | 2,938,034 |
Interbank borrowings | 3,798,978 | 2,646,756 |
Debt instruments issued | 6,204,856 | 6,408,356 |
Other financial liabilities | 13,123 | 12,966 |
Lease contracts liabilities | 151,885 | 172,924 |
Current taxes | 1,766 | 13 |
Deferred taxes | 237 | 263 |
Provisions | 135,090 | 177,827 |
Other liabilities | 700,034 | 708,914 |
Liabilities directly associated with non-current assets held for sale | 0 | 0 |
TOTAL LIABILITIES | 33,103,113 | 30,283,718 |
Attributable to equity holders of the Bank: | ||
Capital | 1,862,826 | 1,862,826 |
Reserves | 1,195,849 | 1,195,849 |
Valuation accounts | 26,824 | 47,117 |
Retained earnings: | (771,251) | 126,101 |
Retained earnings (accumulated losses) from prior years | 37,533 | 50,537 |
Net income for the year | (808,784) | 113,684 |
Less: Provision for mandatory dividends | (38,120) | |
Total equity attributable to equity holders of the Bank | 2,314,248 | 3,231,893 |
Non-controlling interest | 69,087 | 94,445 |
TOTAL EQUITY | 2,383,335 | 3,326,338 |
TOTAL LIABILITIES AND EQUITY | $ 35,486,448 | $ 33,610,056 |
Consolidated Statements of Inco
Consolidated Statements of Income (Loss) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Profit or loss [abstract] | |||
Interest income | $ 1,549,674 | $ 1,773,640 | $ 1,739,317 |
Interest expense | (683,237) | (873,222) | (851,654) |
Net interest income | 866,437 | 900,418 | 887,663 |
Fee and commission income | 204,378 | 244,196 | 237,956 |
Fee and commission expense | (63,379) | (69,792) | (51,827) |
Net fee and commission income | 140,999 | 174,404 | 186,129 |
Net income from financial operations | 110,887 | 143,634 | 172,755 |
Net foreign exchange gain (loss) | (74,464) | 27,626 | (17,965) |
Other operating income | 65,578 | 44,972 | 26,656 |
Net operating profit before provision for loan losses | 1,109,437 | 1,291,054 | 1,255,238 |
Provision for loan losses | (466,230) | (382,678) | (279,798) |
NET OPERATING PROFIT | 643,207 | 908,376 | 975,440 |
Personnel salaries and expenses | (292,191) | (298,209) | (294,747) |
Administrative expenses | (257,753) | (248,881) | (291,736) |
Depreciation and amortization | (126,444) | (127,166) | (86,817) |
Impairment | (814,879) | (728) | (28) |
Other operating expenses | (90,511) | (61,549) | (68,199) |
Total operating expenses | (1,581,778) | (736,533) | (741,527) |
TOTAL OPERATING INCOME (LOSS) | (938,571) | 171,843 | 233,913 |
Income (loss) from investment in associates | (2,794) | 532 | |
Operating (loss) income before income taxes | (941,365) | 172,375 | 233,913 |
Income taxes | 115,210 | (47,853) | (67,059) |
Consolidated income (loss) from continuing operations | (826,155) | 124,522 | 166,854 |
TOTAL CONSOLIDATED INCOME FOR THE YEAR | (826,155) | 124,522 | 166,854 |
Attributable to: | |||
Equity holders of the Bank | (808,784) | 113,684 | 171,331 |
Non-controlling interest | $ (17,371) | $ 10,838 | $ (4,477) |
Earnings per share attributable to equity holders of the Bank (in Chilean pesos) | |||
Basic earnings (loss) per share | $ (1.578) | $ 0.222 | $ 0.334 |
Diluted earnings (loss) per share | $ (1.578) | $ 0.222 | $ 0.334 |
Consolidated Statements of Othe
Consolidated Statements of Other Comprehensive Income (Loss) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Statement of comprehensive income [abstract] | |||
CONSOLIDATED INCOME FOR THE YEAR | $ (826,155) | $ 124,522 | $ 166,854 |
OTHER COMPREHENSIVE INCOME (LOSS) WHICH MAY BE RECLASSIFIED SUBSEQUENTLY TO PROFIT OR LOSS: | |||
Debt instruments at fair value through other comprehensive income | (8,235) | 21,703 | (1,441) |
Exchange differences on investment in Colombia and New York branch | (71,771) | 73,855 | 48,610 |
Gain (loss) from hedge of net investments in foreign operations | 80,722 | (46,786) | (36,533) |
Gain (loss) from cash flow hedge | (5,682) | (6,792) | 11,289 |
Other comprehensive income (loss) before income taxes | (4,966) | 41,980 | 21,925 |
Income taxes related to debt instruments at FV through OCI | 1,558 | (5,926) | (2,172) |
Income taxes related to hedge of net investment in foreign operations | (21,795) | 14,373 | 10,565 |
Income taxes related to cash flow hedge | (3,034) | (162) | (1,669) |
Income taxes on other comprehensive income (loss) | (23,271) | 8,285 | 6,724 |
Other comprehensive income (loss) which may be reclassified subsequently to profit or loss, net of income taxes | (28,237) | 50,265 | 28,649 |
OTHER COMPREHENSIVE INCOME (LOSS) WHICH MAY NOT BE RECLASSIFIED SUBSEQUENTLY TO PROFIT OR LOSS: | |||
Defined benefits obligations | (3) | (4,432) | (754) |
Income taxes related to defined benefits obligations | (19) | 1,542 | (44) |
Changes in the fair value of equity investments at fair value through other comprehensive income | 356 | 814 | 482 |
Other comprehensive loss which may not be reclassified subsequently to profit or loss, net of income taxes | 334 | (2,076) | (316) |
TOTAL OTHER COMPREHENSIVE INCOME (LOSS) FOR THE YEAR | (27,903) | 48,189 | 28,333 |
CONSOLIDATED COMPREHENSIVE INCOME FOR THE YEAR | (854,058) | 172,711 | 195,187 |
Attributable to: | |||
Equity holders of the Bank | (828,700) | 144,817 | 191,228 |
Non-controlling interest | $ (25,358) | $ 27,894 | $ 3,959 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Equity - CLP ($) $ in Millions | Number of shares issued [member] | Capital [Member] | Revaluation surplus [member] | Other equity interest [member] | Valuation Accounts [member] | Retained earnings [member] | Retained earnings1 [member] | Provision for mandatory dividends [member] | Total Attributable to Equity Holders of the Bank [Member] | Non controlling Interest [Member] | Total |
Beginning Balance (Revised For IFRS 9 [member]) at Jan. 01, 2018 | $ 1,862,826 | $ 451,011 | $ 839,120 | $ (3,738) | $ (46,376) | $ (17,234) | $ 3,085,609 | $ 214,123 | $ 3,299,732 | ||
Beginning Balance at Jan. 01, 2018 | 1,862,826 | 451,011 | 839,120 | (4,735) | 80,489 | (17,234) | 3,211,477 | 217,280 | 3,428,757 | ||
Beginning Balance (Revised For IFRS 9 [member]) at Jan. 01, 2018 | 512,407,000,000 | ||||||||||
Beginning Balance at Jan. 01, 2018 | 512,407,000,000 | ||||||||||
Disclosure of equity [line items] | |||||||||||
Distribution of prior year's net income | (22,979) | 17,234 | (5,745) | (5,745) | |||||||
Provision for mandatory dividends | (51,614) | (51,614) | (51,614) | ||||||||
Comprehensive income (loss) for the year | 19,897 | $ 171,331 | 191,228 | 3,959 | 195,187 | ||||||
Ending Balance at Dec. 31, 2018 | 1,862,826 | 451,011 | 839,120 | 16,159 | (69,355) | 171,331 | (51,614) | 3,219,478 | 218,082 | $ 3,437,560 | |
Ending Balance at Dec. 31, 2018 | 512,407,000,000 | 512,406,760,091 | |||||||||
Disclosure of equity [line items] | |||||||||||
Changes due to initial application of IFRS 9 | Increase (decrease) due to changes in accounting policy required by IFRSs [member] | 997 | (126,865) | (125,868) | (3,157) | $ (129,025) | ||||||
Distribution of prior year's net income | 171,331 | (171,331) | |||||||||
Ending Balance at Jan. 01, 2019 | 1,862,826 | 451,011 | 839,120 | 16,159 | 101,976 | (51,614) | 3,219,478 | 218,082 | 3,437,560 | ||
Ending Balance at Jan. 01, 2019 | 512,407,000,000 | ||||||||||
Beginning Balance at Dec. 31, 2018 | 1,862,826 | 451,011 | 839,120 | 16,159 | (69,355) | 171,331 | (51,614) | 3,219,478 | 218,082 | $ 3,437,560 | |
Beginning Balance at Dec. 31, 2018 | 512,407,000,000 | 512,406,760,091 | |||||||||
Disclosure of equity [line items] | |||||||||||
Transfer of gain on disposal of equity investments at fair value through other comprehensive income to retained earnings | $ (175) | ||||||||||
Ending Balance at Dec. 31, 2019 | 1,862,826 | 451,011 | 744,838 | 47,117 | 50,537 | 113,684 | (38,120) | 3,231,893 | 94,445 | $ 3,326,338 | |
Ending Balance at Dec. 31, 2019 | 512,407,000,000 | 512,406,760,091 | |||||||||
Beginning Balance at Jan. 01, 2019 | 1,862,826 | 451,011 | 839,120 | 16,159 | 101,976 | (51,614) | 3,219,478 | 218,082 | $ 3,437,560 | ||
Beginning Balance at Jan. 01, 2019 | 512,407,000,000 | ||||||||||
Disclosure of equity [line items] | |||||||||||
Distribution of prior year's net income | (51,614) | 51,614 | |||||||||
Provision for mandatory dividends | (38,120) | (38,120) | (38,120) | ||||||||
Transfer of gain on disposal of equity investments at fair value through other comprehensive income to retained earnings | (175) | 175 | |||||||||
Comprehensive income (loss) for the year | 31,133 | 113,684 | 144,817 | 27,894 | 172,711 | ||||||
Increase participation in Colombia | (94,282) | (94,282) | (151,531) | (245,813) | |||||||
Ending Balance at Dec. 31, 2019 | 1,862,826 | 451,011 | 744,838 | 47,117 | 50,537 | 113,684 | (38,120) | 3,231,893 | 94,445 | $ 3,326,338 | |
Ending Balance at Dec. 31, 2019 | 512,407,000,000 | 512,406,760,091 | |||||||||
Disclosure of equity [line items] | |||||||||||
Distribution of prior year's net income | 113,684 | (113,684) | |||||||||
Ending Balance at Jan. 01, 2020 | 1,862,826 | 451,011 | 744,838 | 47,117 | 164,221 | (38,120) | 3,231,893 | 94,445 | $ 3,326,338 | ||
Ending Balance at Jan. 01, 2020 | 512,407,000,000 | ||||||||||
Beginning Balance at Dec. 31, 2019 | 1,862,826 | 451,011 | 744,838 | 47,117 | 50,537 | 113,684 | (38,120) | 3,231,893 | 94,445 | $ 3,326,338 | |
Beginning Balance at Dec. 31, 2019 | 512,407,000,000 | 512,406,760,091 | |||||||||
Disclosure of equity [line items] | |||||||||||
Transfer of gain on disposal of equity investments at fair value through other comprehensive income to retained earnings | $ (377) | ||||||||||
Ending Balance at Dec. 31, 2020 | 1,862,826 | 451,011 | 744,838 | 26,824 | 37,533 | (808,784) | 2,314,248 | 69,087 | $ 2,383,335 | ||
Ending Balance at Dec. 31, 2020 | 512,407,000,000 | 512,406,760,091 | |||||||||
Beginning Balance at Jan. 01, 2020 | 1,862,826 | 451,011 | 744,838 | 47,117 | 164,221 | (38,120) | 3,231,893 | 94,445 | $ 3,326,338 | ||
Beginning Balance at Jan. 01, 2020 | 512,407,000,000 | ||||||||||
Disclosure of equity [line items] | |||||||||||
Distribution of prior year's net income | (127,065) | (127,065) | (127,065) | ||||||||
Provision for mandatory dividends | $ 38,120 | 38,120 | 38,120 | ||||||||
Transfer of gain on disposal of equity investments at fair value through other comprehensive income to retained earnings | (377) | 377 | |||||||||
Comprehensive income (loss) for the year | (19,916) | (808,784) | (828,700) | (25,358) | (854,058) | ||||||
Ending Balance at Dec. 31, 2020 | $ 1,862,826 | $ 451,011 | $ 744,838 | $ 26,824 | $ 37,533 | $ (808,784) | $ 2,314,248 | $ 69,087 | $ 2,383,335 | ||
Ending Balance at Dec. 31, 2020 | 512,407,000,000 | 512,406,760,091 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | |||
Operating income before income taxes | $ (941,365) | $ 172,375 | $ 233,913 |
Debits (credits) to income that do not represent cash flows | |||
Depreciation and amortization | 126,444 | 127,166 | 86,817 |
Provisions for loans and accounts receivable from customers and interbank loans | 527,077 | 441,343 | 328,266 |
Provisions and write-offs for assets received in lieu of payment | 4,006 | 18,284 | 16,132 |
Provisions for contingencies | 3,119 | 507 | 1,998 |
Impairment | 814,879 | 728 | 28 |
Net gain on sale of loans and accounts receivable from customers | (6,476) | (14,588) | (1,602) |
Income received from Financial instruments at fair value through profit or loss | (64,410) | (92,959) | (74,071) |
Income received from sale of Financial instruments at fair value through other comprehensive income | (58,092) | (33,867) | (13,765) |
Net interest income | (866,437) | (900,418) | (887,663) |
Fee and commission income | (204,378) | (244,196) | (237,956) |
Fee and commission expense | 63,379 | 69,792 | 51,827 |
Net foreign exchange gain (loss) | 74,464 | (27,626) | 17,965 |
Net gain on sale of property, plant and equipment | 131 | (1,593) | (5,212) |
Net gain on sale of assets received in lieu of payment | (3,287) | (5,671) | (1,223) |
Net gain on sale of assets held for sale | (970) | ||
Net gain on sale of participation in companies | (1,028) | (22) | |
Increase on deferred tax assets and liabilities | (109,848) | (33,727) | (28,110) |
Other charges (credits) that do not represent cash flows | 39,014 | 90,848 | 50,039 |
Subtotal | (602,750) | (434,630) | (462,639) |
Loans and accounts receivable from customers and interbank loans | 745,029 | (1,254,664) | (1,610,676) |
Investments under resale agreements | (45,109) | 33,492 | (80,943) |
Obligations under repurchase agreements | 79,394 | (456,157) | 594,694 |
Financial instruments at fair value through profit or loss | 17,895 | (55,236) | 326,131 |
Financial instruments at fair value through other comprehensive income | (1,749,279) | (941,256) | 166,753 |
Financial instruments at amortized cost | 4,039 | 83,228 | 3,120 |
Other assets and liabilities | 111,619 | (41,251) | (99,717) |
Time deposits and other time liabilities | (187,123) | 1,499,076 | 430,141 |
Deposits and other demand liabilities | 1,323,958 | 572,973 | 159,296 |
Foreign borrowings obtained | 3,326,628 | 3,163,543 | 2,741,786 |
Repayment of foreign borrowings | (2,450,227) | (2,928,952) | (2,636,867) |
Interest paid | (597,602) | (590,814) | (873,121) |
Interest received | 1,471,570 | 1,663,507 | 1,951,250 |
Net fee and commission income | 110,902 | 171,682 | 186,258 |
Taxes paid | (152,593) | (152,681) | (105,683) |
Repayment of other borrowings | 157 | (566) | (4,666) |
Proceeds from sale of assets received in lieu of payment | 26,247 | 23,203 | 10,638 |
Net cash flows provided by (used in) operating activities | 1,432,755 | 354,497 | 695,755 |
CASH FLOWS FROM INVESTMENT ACTIVITIES: | |||
Purchase of property, plant and equipment and intangible assets | (67,675) | (65,716) | (82,952) |
Sales of property, plant and equipment | 157 | 18,263 | 41,078 |
Proceeds from sale of assets held for sale | 1,550 | ||
Payments for investments in subsidiaries | (268,174) | ||
Payments for investments in associates | (338) | ||
Net cash flows provided by (used in) investing activities | (66,306) | (315,627) | (41,874) |
CASH FLOWS FROM FINANCING ACTIVITIES: | |||
Borrowings obtained from the Chilean Central Bank | 3,781,200 | ||
Payments of borrowings from the Central Bank of Chile | (1,524,000) | ||
Debt instruments issued | 408,402 | 649,321 | 484,754 |
Redemption of debt issued | (935,094) | (633,671) | (911,047) |
Dividends paid | (127,086) | (51,347) | (22,979) |
Payments of lease liabilities | (33,687) | (34,226) | |
Net cash flows provided by financing activities | 1,569,735 | (69,923) | (449,272) |
Effect of changes in exchange rates | 122,133 | 115,940 | 83,354 |
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 3,058,317 | 84,887 | 287,963 |
Cash and cash equivalents at the beginning of the year | 1,447,939 | 1,363,052 | 1,075,089 |
Cash and cash equivalents at end of the year | 4,506,256 | 1,447,939 | 1,363,052 |
Net increase (decrease) in cash and cash equivalents | $ 3,058,317 | $ 84,887 | $ 287,963 |
Consolidated Statements of Ca_2
Consolidated Statements of Cash Flows (Parenthetical) - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of consolidated statement of cash flows [line items] | ||
Debt instruments issued opening balance | $ 6,581,280 | |
Cash flows received | 4,189,602 | |
Cash flows payments | (2,492,781) | |
Changes other than cash | 4,100 | |
Other changes different of cash acquisition | 7,279 | |
Other changes different of cash interest | 334,555 | |
Other changes different of cash currency movement | (63,281) | |
Other changes different of cash Changes in fair value | 53,213 | |
Debt instruments issued ending balance | 8,613,967 | $ 6,581,280 |
Dividends paid | (127,065) | (51,347) |
Capital increase | (21) | |
Total Dividends paid | (127,086) | |
Subtotal cash flows from financing activities - Cash flows received | 4,189,602 | 649,321 |
Subtotal cash flows from financing activities - Cash flows payments | (2,619,867) | (719,244) |
Total cash flows from financing activities (net) | 1,569,735 | (69,923) |
Borrowings obtained from Chilean Central Bank [member] | ||
Disclosure of consolidated statement of cash flows [line items] | ||
Cash flows received | 3,781,200 | |
Cash flows payments | (1,524,000) | |
Other changes different of cash interest | 26 | |
Debt instruments issued ending balance | 2,257,226 | |
Mortgage finance bonds [member] | ||
Disclosure of consolidated statement of cash flows [line items] | ||
Debt instruments issued opening balance | 40,933 | 53,463 |
Cash flows payments | (11,349) | (14,523) |
Other changes different of cash interest | 1,262 | 1,993 |
Debt instruments issued ending balance | 30,846 | 40,933 |
Bonds (senior and subordinated) [member] | ||
Disclosure of consolidated statement of cash flows [line items] | ||
Debt instruments issued opening balance | 6,367,423 | 5,956,661 |
Cash flows received | 408,402 | 649,321 |
Cash flows payments | (923,745) | (619,148) |
Other changes different of cash interest | 328,348 | 340,480 |
Other changes different of cash currency movement | (59,631) | 40,109 |
Other changes different of cash Changes in fair value | 53,213 | |
Debt instruments issued ending balance | 6,174,010 | 6,367,423 |
Lease obligations [member] | ||
Disclosure of consolidated statement of cash flows [line items] | ||
Debt instruments issued opening balance | 172,924 | 176,795 |
Cash flows payments | (33,687) | (34,226) |
Changes other than cash | 4,100 | |
Other changes different of cash acquisition | 7,279 | 12,998 |
Other changes different of cash interest | 4,919 | 15,561 |
Other changes different of cash currency movement | (3,650) | 1,796 |
Debt instruments issued ending balance | 151,885 | 172,924 |
Mortgage finance bonds and senior and subordinated bonds and lease liabilities [member] | ||
Disclosure of consolidated statement of cash flows [line items] | ||
Debt instruments issued opening balance | $ 6,581,280 | 6,186,919 |
Cash flows received | 649,321 | |
Cash flows payments | (667,897) | |
Other changes different of cash acquisition | 12,998 | |
Other changes different of cash interest | 358,034 | |
Other changes different of cash currency movement | 41,905 | |
Debt instruments issued ending balance | $ 6,581,280 |
General Information and Summary
General Information and Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2020 | |
Text block [Abstract] | |
General Information and Summary of Significant Accounting Policies | Note 1 – General Information and Summary of Significant Accounting Policies General Information – Background of Itaú Corpbanca and subsidiaries Itaú Corpbanca (the “Bank”) is a corporation incorporated under the laws of the Republic of Chile and regulated by the Commission for the Financial Market (onwards “CMF”) which, as of June 1, 2019, assumed the functions of the Superintendency of Banks and Financial Institutions (“SBIF”), according to the Decree with Force of Law (DFL) No.3 of January 12, 2019, which sets a new consolidated, systematized and agreed text for the General Bank Law. The entity is the merger result between Banco Itaú Chile and Corpbanca (the latter is the legal successor) which was consummated on April 1, 2016, the date on which the Bank was renamed “Itaú Corpbanca” 1 . The current ownership structure is 39.22% owned by Itaú Unibanco, 27.49% owned by CorpGroup (Saieh Family) and 33.29% owned by minority shareholders. Itaú Unibanco is the sole controlling shareholder of the merged bank. Within this context and without limiting the above, Itaú Unibanco and CorpGroup have signed a shareholders’ agreement relating to corporate governance, dividend policy (based on performance and capital metrics), transfer of shares, liquidity, and other matters. Itaú Corpbanca is headquartered in Chile and has operations in Colombia and Panama. In addition, Itaú Corpbanca has a branch in New York and a representative office in Lima. The Bank has total consolidated assets for MCh$35,486,448 (MMUS$49,930) and total equity attributable to holders of the Bank for MCh$2,314,248 (MMUS$3,256). The legal address of Itaú Corpbanca is Rosario Norte No. 660, Las Condes, Santiago, Chile, and its website is www.itau.cl These Consolidated Financial Statements as of December 31, 2020, were approved by the Board of Directors on April 22, 2021. Significant Accounting Policies and Others a) Accounting period The Consolidated Financial Statements are referred as of December 31, 2020 and 2019 and comprise the years ended December 31, 2020, 2019 and 2018. b) Basis of preparation of the Consolidated Financial Statements These Consolidated Financial Statements have been prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board (“IFRS-IASB”). Notes to these Consolidated Financial Statements contain information additional to that disclosed in the Consolidated Statements of Financial Position, Consolidated Statements of Income, Consolidated Statements of Other Comprehensive Income, Consolidated Statements of Changes in Equity, and Consolidated Statements of Cash Flows. 1. “Business Combinations” , in which Banco Itaú Chile is the successor for accounting purposes and Corpbanca is the legal successor. Note 1 – General Information and Summary of Significant Accounting Policies, continued c) Consolidation criteria These Consolidated Financial Statements comprise the preparation of the Financial Statements of the Bank and the controlled entities which participate in the consolidation as of December 31, 2020 and 2019 and for the years ended December 31, 2020, 2019 and 2018, and include the necessary adjustments and reclassifications to standardize the accounting policies and valuation criteria applied by the Bank, in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board (“IFRS-IASB”). Intercompany balances and any unrealized income or loss arising from intercompany transactions are eliminated upon consolidation during the preparation of the Consolidated Financial Statements. (i) Controlled entities The Bank, regardless of the nature of its involvement with an entity (the investee), shall determine whether it is a parent by assessing whether it controls the investee. The Bank controls an investee when it is exposed, or has rights, to variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee. Thus, the Bank controls an investee if and only if has all the following: 1) Power over the investee, which is related to the existing rights that give the Bank the current ability to direct the relevant activities, these being those that significantly affect the investee’s returns; 2) Exposure, or rights, to variable returns from its involvement with the investee; 3) Ability to use its power over the investee to affect the amount of the Bank’s returns; When the Bank has less than a majority of the voting rights over an investee, but such voting rights are sufficient to have the actual ability to direct the relevant activities, then it will be concluded that the Bank has control over the investee. The Bank considers all relevant factors and circumstances when assessing if the voting rights are sufficient to obtain control, these include: · The amount of voting rights held by the Bank in relation to the amount and dispersion of those held by other vote holders. · Potential voting rights held by the Bank, other voting holders or other parties. · Rights that arise from other contractual agreements. · Any additional facts and circumstances that indicate that the Bank has, or does not have, the current ability to direct the relevant activities at the time those decisions need to be made, including the patterns of voting behavior in previous shareholders meetings. The Bank reassesses whether or not it has control over an investee when facts and circumstances indicate that there are changes in one or more of the control elements listed above. Note 1 – General Information and Summary of Significant Accounting Policies, continued The financial statements of the controlled companies are consolidated with those of the Bank through the global integration method (line by line). In accordance with this method, all balances and transactions between consolidated companies are eliminated upon consolidation. Therefore, the Consolidated Financial Statements refer to assets, liabilities, equity, income, expenses, and cash flows of the parent and its subsidiaries presented as if they were a single economic entity. The Bank prepares Consolidated Financial Statements using uniform accounting policies for transactions and other events that, being similar, have occurred in similar circumstances. The following table details the entities controlled by Itaú Corpbanca: Ownership percentage Functional As of December 31, 2020 As of December 31, 2019 Market Country currency Direct Indirect Total Direct Indirect Total % % % % % % Itaú Corredores de Bolsa Limitada (1) National Chile $ Itaú Administradora General de Fondos S.A. (1) Chile $ Itaú Corredores de Seguros S.A. (1) Chile $ Itaú Asesorías Financieras Limitada (1) (7) Chile $ Recaudaciones y Cobranzas Limitada (1) (6) Chile $ Itaú Corpbanca New York Branch (1) (5) Foreign USA US$ — — Itaú Corpbanca Colombia S.A. (2) (8) Colombia COP$ — — Itaú Corredor de Seguro Colombia S.A. (2) Colombia COP$ — — Itaú Securities Services Colombia S.A. (2) (10) (11) Colombia COP$ Itaú Comisionista de Bolsa Colombia S.A (2) (12) Colombia COP$ Itaú Asset Management Colombia S.A. Sociedad Fiduciaria (2) Colombia COP$ — — Itaú (Panamá) S.A. (3) Panama US$ — — Itaú Casa de Valores S.A (4) (9) Panama US$ — — — — (1) Companies regulated by the Commission for the Financial Market, hereinafter CMF (formerly Superintendency of Securities and Insurance – SVS). (2) Companies regulated by the Colombian Financial Superintendency (SFC), which has a supervision agreement with the CMF. (3) Company regulated by the Superintendency of Banks of Panama. (4) Company regulated by the Superintendency of the Securities Market of Panama. (5) Company regulated by the Office of the Comptroller of the Currency (OCC) and the Federal Reserve (FED). (6) On May 2, 2019, Itaú Corpbanca Recaudaciones y Cobranzas S.A (Instacob) acquired from Itaú Corredores de Bolsa its participation in Itaú Asesorías Financieras. (7) On May 2, 2019 Itaú Asesoría Financieras modifies its legal statute turning from a public company (S.A.) to a private limited company. (8) On December 3, 2019 Itaú Corpbanca completed the acquisition of Itaú Corpbanca Colombia shares owned by Helm LLC and Kresge Stock Holding Company Inc. (9) On January 23, 2020, Itaú Comisionista de Bolsa Colombia S.A., a subsidiary of Itaú Corpbanca Colombia S.A., completed the process of selling its participation (100%) held in Itaú Casa de Valores S.A., domiciled in Panama. (10) On July 8, 2020, Recaudaciones y Cobranza Ltda. acquired 1 share of Itaú Securities Services Colombia S.A. for the price of US$2.29 equivalent to Ch$1.799 pesos. (11) On July 8, 2020, Itaú Asesorías Financieras Ltda. acquired 1 share of Itaú Securities Services Colombia S.A. for the price of US$2.29 equivalent to Ch$1.799 pesos. (12) On July 8, 2020, Itaú Asesorías Financieras Ltda. acquired 6 shares of Itaú Comisionista de Bolsa S.A. for the price of US$7.19 equivalent to Ch$5.648 pesos. Note 1 – General Information and Summary of Significant Accounting Policies, continued (ii) Associates Associated entities are those over which the Bank has significant influence; although not control or joint control. If the Bank holds, directly or indirectly (e.g. through subsidiaries), 20% or more of the voting power of the investee, it is presumed that the Bank has significant influence, unless it can be clearly demonstrated that this is not the case, and subsequently increased or decreased to recognize either the Bank’s proportional share in the net profit or loss of the associate and other movements recognized in its equity. The lower value arising from the acquisition of an associate is included in the book value of the investment net of any accumulated impairment loss. Other factors considered to determine the significant influence on an entity are the representations in the Board of Directors and the existence of material transactions. The existence of these factors could determine the existence of significant influence on an entity, despite having a participation of less than 20% of the shares with the right to vote. The following entities are classified as “Associates”, were the Bank has an interest and are accounted for using the equity method, according to IAS 28: As of December 31, As of December 31, Associate Main Operation Operation Place 2020 2019 % Share % Share Nexus S.A Credit and debit card operator Santiago, Chile 14.8148 % 12.9000 % Transbank S.A Credit card operator Santiago, Chile 8.7188 % 8.7188 % Itaú Corpbanca exercises significant influence by virtue of its voting right to appoint a representative in the Board of Directors for each one of these entities. This, among other business considerations, led management to conclude that, in 2019, Itaú Corpbanca gained significant influence over the aforementioned entities. (iii) Shares or rights in other companies are those in which the Bank has no control or significant influence. Such holdings are recorded at fair value through profit and loss or at fair value through other comprehensive income, when the Bank has irrevocably elected at initial recognition to recognize in this category, without recycling to profit or loss, according to IFRS 9 “Financial instruments” . (iv) The Bank and its subsidiaries manage assets held in publicly offered investment funds and other investment vehicles on behalf of investors and receive market-rate compensation for providing this type of services. Managed funds belong to third parties and, therefore, are not included in the Consolidated Statement of Financial Position. The Bank provides trust commissions and other fiduciary services that result in the participation or investment of assets by clients. Assets held in a fiduciary activity are not reported in the Consolidated Financial Statements, since they are not Bank assets and there is no control over them. Contingencies and commitments arising from this activity are disclosed in Note 23 - Contingencies, Commitments, and Responsibilities, letter c), related to Responsibilities recorded in off-balance-sheet accounts. Note 1 – General Information and Summary of Significant Accounting Policies, continued In accordance with IFRS 10 “ Consolidated Financial Statements ,” for consolidation purposes, the role of the Bank and its subsidiaries with respect to the managed funds must be evaluated to determine whether it is acting as Agent or Principal. According to this standard, an Agent is a party primarily engaged in acting on behalf and for the benefit of another party or parties (the Principal or Principals) and, therefore, it does not control the investee when it exercises decision-making authority. This evaluation must take into account the following aspects: · Scope of its decision-making authority over the investee. · Rights held by other parties · The remuneration to which it is entitled to in accordance with the remuneration agreements. · Decision-maker’s exposure to variability of returns from other interests that it holds in the investee. The Bank does not control or consolidate any trusts or other entities related to this type of business. The Bank manages the funds on behalf and for the benefit of investors, acting solely as an Agent. The assets managed by the Bank and its subsidiaries are owned by third parties. Under this category, and in accordance with the aforementioned standard, they do not control the assets when they exercise their decision-making authority. Therefore, as of December 31, 2020 and 2019 they act as Agent and none of these investment vehicles is consolidated. d) Non-controlling interest represents the portion of net income or loss and net assets which the Bank does not own, either directly or indirectly. It is disclosed as “Attributable to non-controlling interest” separately in the Consolidated Statement of Income (Loss). Additionally, non-controlling interests are presented in the Consolidated Statement of Financial Position under the heading "Non-controlling interest", separately from the equity attributable to owners of the Bank. Changes in a parent’s ownership interest in a subsidiary that do not result in a loss of control are equity transactions (i.e. transactions with owners in their capacity as owners). The Bank attributes the profit or loss for the period and each component of other comprehensive income to the owners of the Bank and to non-controlling interests. The Bank also attributes total comprehensive income to the owners of the Bank and non-controlling interests even if the results of the non-controlling interests result in a debit balance. e) Business combinations are accounted for using the acquisition method. The consideration transferred in a business combination is measured at fair value, which is calculated as the sum of the acquisition-date fair values of the assets transferred by the Bank, liabilities incurred by the Bank to the former owners of the acquiree and the equity interests issued by the Bank in exchange for control of the acquiree. Acquisition costs incurred are expensed and included in administrative expenses. When Itaú Corpbanca and its subsidiaries (the Group) acquires a business, evaluates the identifiable assets acquired and liabilities assumed to determine proper classification and designation based on contractual conditions, economic circumstances, and other relevant conditions as of the acquisition date. This includes the assessment of whether an embedded derivative should be separated from a host contract in accordance with IFRS 9. Note 1 – General Information and Summary of Significant Accounting Policies, continued Goodwill, defined as the difference between the consideration transferred and the amount recognized for the non-controlling interest in the net identifiable assets acquired and liabilities assumed, is measured initially at cost. If this consideration is less than the fair value of the net assets of the acquired subsidiary, the difference is recognized directly in profit or loss as of the acquisition date. After initial recognition, goodwill is measured at cost less any accumulated impairment losses. Goodwill acquired in a business combination is assigned, from the date of acquisition, to each of the Group’s cash generating units (CGU) (or group of CGUs) that are expected to benefit from the combination, independently of whether other assets or liabilities of the acquiree are assigned to those units. When goodwill is allocated to a CGU (or group of CGUs) and an operation within that unit is sold, the goodwill associated with that operation is included in the carrying amount of the operation sold when determining the gain or loss on disposal. Goodwill that is derecognized under such circumstances is measured on the basis of the relative values of the operation disposed of and the retained portion of the CGU (or group of CGUs). f) The Bank has defined as its functional and presentation currency the Chilean peso, which is the currency of the primary economic environment in which the Bank operates and the currency that influences its costs and revenue structure. Therefore, all balances and transactions denominated in currencies other than the Chilean peso are treated as "foreign currency". The Bank translates accounting records of its New York branch and subsidiaries in Colombia and Panama into Chilean pesos from US dollars and Colombian pesos, as applicable, in accordance with IAS 21 "Effects of the Variations in the Exchange Rates of the Foreign Currency" . All amounts in the Consolidated Statements of Income, Consolidated Statements of Other Comprehensive Income and the Consolidated Statements of Financial Position are translated into Chilean pesos according to the exchange rate indicated in letter g) below. None of the markets in which Itaú Corpbanca and its subsidiaries operate qualify as a hyperinflationary economy. g) Transactions in foreign currency are initially recorded by the Bank at the exchange rates of their respective functional currencies at the date these transactions first meet the conditions for their recognition. Monetary assets and liabilities denominated in foreign currency are converted at the closing exchange rate of the functional currency in force at the closing date of the reporting period. All differences arising from the settlement or conversion of monetary items are recorded in income, except for those that correspond to monetary items that are part of the hedge of a net investment in a foreign operation, for which the cumulative difference is recorded in equity and subsequently reclassified to profit and loss (on disposal). Tax effects attributable to the exchange differences on such monetary items are also recorded in Other Comprehensive Income. Non-monetary items in foreign currency, which are measured in terms of historical cost, are converted using the exchange rate on the date of the transaction. Non-monetary items that are measured at their fair value in foreign currency are translated using the exchange rates on the date on which that fair value is measured. Gains or losses arising from the translation of non-monetary items measured at their fair value are recognized based on how the gains and losses arising from the change in fair value are recognized in Other Comprehensive Income or in Income, in accordance with IAS 21. Note 1 – General Information and Summary of Significant Accounting Policies, continued The Bank grants loans and receives deposits in amounts denominated in foreign currency, mainly in US dollars and Colombian pesos. Balances in the financial statements of the consolidated entities whose functional currency is different from the Chilean peso are converted into the presentation currency, according to the following criteria: · Assets and liabilities, by using exchange rates as of the date of the Consolidated Financial Statements. · Income and expenses and cash flows, by using the exchange rates as of the date of each transaction. Exchange differences arising from translating balances into functional currencies of the consolidated entities other than Chilean pesos into Chilean pesos, are recorded as "Exchange differences" in Equity under the line item "Valuation accounts", until they meet the derecognition criteria for the Consolidated Statement of Financial Position, and is subsequently recorded in profit or loss. The net amount of foreign exchange gains and losses includes the recognition of the effects of changes in the exchange rates over assets and liabilities denominated in foreign currencies and gains and losses arising from exchange rates changes affecting current and future transactions (highly probable transactions) entered into by the Bank. Assets and liabilities in foreign currencies are shown at their equivalent amount in Chilean pesos, calculated using the exchange rate of $710.73 per US$1 (US dollar) as of December 31, 2020 ($748.77 as of December 31, 2019 and $694.73 as of December 31, 2018) and the exchange rate of $0.2078 per COP$1 (Colombian peso) as of December 31, 2020 ($0.2284 as of December 31, 2019 and $0.2139 as of December 31, 2018). The financial statements of the New York branch, as well as the Colombian and Panamanian subsidiaries, have been translated using these exchange rates for consolidation purposes, in accordance with IAS 21, related to the valuation of investments abroad in countries with stable economies. h) The preparation of the Consolidated Financial Statements requires the Bank’s management to make estimates, judgments and assumptions that affect the application of the accounting policies and the reported balances of assets and liabilities, disclosures of contingencies with respect to assets and liabilities as of the date of the Consolidated Financial Statements, as well as income and expenses during the year. Actual results may differ from these estimates. Estimates and relevant assumptions are regularly reviewed by Management in order to properly measure some assets, liabilities, income, and expenses. Accounting estimates changes due to reviews are recognized in the year in which the estimate is reviewed and in any future period affected. In certain cases, International Financial Reporting Standards requires that assets and liabilities be recorded or disclosed at their fair values. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction in the principal (or most advantageous) market at the measurement date under current market conditions (i.e. an exit price) regardless of whether that price is directly observable or estimated using another valuation technique. When market prices in active markets are available, they have been used as a basis for valuation. When market prices in active markets are not available, the Bank has estimated those values as values based on the best available information, including the use of modeling and other valuation techniques. Note 1 – General Information and Summary of Significant Accounting Policies, continued The Bank has established allowances to cover expected credit losses over its loan portfolio and other financial assets. These allowances must be regularly reviewed taking into consideration factors such as changes in the nature and volume of the loan portfolio, trends in forecasted portfolio quality, credit quality and economic conditions that may adversely affect the borrowers’ ability to pay. Increases in the allowances for loan losses are reflected as “Provision for loan losses” in the Consolidated Statement of Income (Loss). Loans are charged-off when the Bank’s management determines that a loan or a portion thereof is impaired. Charge-offs are recorded as a reduction of the allowance for loan losses. In particular, information on significant areas of estimate due to uncertainties and critical judgments in the application of accounting policies that have the most important effect on the amounts recorded in the Consolidated Financial Statements are the following: · Allowances for loan losses · Fair value of financial assets and liabilities · Contingencies and commitments · Impairment losses of certain assets, including Goodwill · Current taxes and deferred taxes Due to changes in the macroeconomic environment during the last year, adjustments have been made to the estimates of allowances for credit risk (see Note 36) and impairment losses on Goodwill (see Note 32). During the year ended December 31, 2020, there were no other significant changes in estimates made at the end of 2019. i) The Bank provides financial information for each operating segment in conformity with IFRS 8 “Operating Segments” in order to disclose information that enables financial statement users to evaluate the nature and financial effects of the business activities in which the Bank engages and the economic environments in which it operates and to allow them to: · Better understand the Bank’s performance. · Better evaluate its future cash flow projections. · Form better opinions regarding the Bank as a whole. To comply with IFRS 8, Itaú Corpbanca identifies operating segments (Chile and Colombia) used by the Executive Committee, which is defined as the chief operating decision maker, to analyze and make decisions regarding operating, financing and investment matters, based on the following elements: (1) The nature of the products and services; (2) The nature of the processes; (3) The type or class of customer for their products and services; (4) The methods used to distribute their products or provide their services; and (5) If applicable, the nature of the regulatory environment, for example, banking, insurance or public utilities. The Executive Committee manages these segments using an in-house system of internal profitability reports and reviews its segments on the basis of the operating results and uses efficiency, profitability and other indicators to evaluate performance and allocate resources. The Bank has also included geographic disclosures on its operations in New York and Colombia. More information on each segment is presented in Note 4 - Reporting Segments. Note 1 – General Information and Summary of Significant Accounting Policies, continued j) Transactions with resale agreements are entered into as a form of investment. Under these agreements, financial instruments are sold, which are included as assets under "Investments under resale agreement” and are accounted for at amortized cost using the effective interest rate of the agreement. There are also sales transactions with a repurchase agreement as a form of financing. In this regard, the investments that are sold subject to a repurchase obligation and that serve as collateral for the loan, form part of the investment items of "Financial instruments at fair value through profit or loss" or "Financial instruments at fair value through profit or loss". The obligation to repurchase the investment is classified in liabilities as "Repurchase agreements and securities loans", recognizing interest and inflation-indexation adjustments accrued as of the closing date. k) I. Classification of financial instruments (i) Classification of financial assets Financial assets are classified into a measurement category based on both the Bank’s business model for managing the financial asset and the contractual cash flow characteristics of the financial asset. Contractual cash flow assessment determine if the cash flows from the financial asset meet the SPPI (solely payment of principal and interest) criterion, i.e. whether the contractual terms of the financial asset give rise, on specific dates, to cash flows that are solely payments of principal and interest. Principal is the fair value of the financial assets at initial recognition, and interest is the consideration for the time value of money, the credit risk associated with the principal outstanding, and also may include liquidity risk, administrative cost and profit margin. For classification process the Bank perform the SPPI test, which assesses the contractual term to identify whether they meet SPPI criterion, the contract is a basic lending arrangement. The Bank applies judgment and considers relevant factors such as currency in which the financial asset is denominated, and period for which the interest rate is set. Business model refers to how the Bank manages its financial assets in order to generate cash flows. The Bank determined its business model on initial application of IFRS 9 at the level that best reflects how it manages groups of financial assets to achieve its business objective. The Bank’s business model represents how financial assets are managed to generate cash flows and does not depend on the Management’s intention regarding an individual instrument, but at a higher level of aggregated portfolio and is based on observable factors such as: risks that affect the performance of business model; how business managers are compensated; how the performance of business model is assessed and reported to Management. In addition, the Banks’s business model is not assessed on an instrument-by-instrument basis, but at a higher level of aggregated portfolio and is based on observable factors such as: performance of the financial assets, the risk that affect the performance, and the expected frequency, value and timing of sales, among others. Note 1 – General Information and Summary of Significant Accounting Policies, continued In accordance with IFRS 9 the business models are: · Held to collect business model (HTC) - financial assets that are held within a business model whose objective is to hold assets in order to collect contractual cash flows are managed to realize cash flows by collecting contractual payments over the life of the instrument, under this business model sales made when there is an increase in the credit risk, or to manage credit concentration risk are not inconsistent with a business model whose objective is to hold financial assets to collect contractual cash flows. · Held to collect and sell (HTC&S) - financial assets under this business model achieve the objective by both collecting contractual cash flows and selling financial assets, then involve a greater frequency and value of sales than HTC business model. · Other business model - financial assets held in this business has the objective of realizing cash flows through the sale of the assets. The Bank makes decisions based on the assets’ fair values and manages the assets to realize those fair values. (ii) Reclassifications Reclassification of financial assets is required if, and only if, the objective of the Bank’s business model for managing those financial assets changes. Financial liabilities cannot be reclassified. There are no reclassifications in these Consolidated Financial Statements. II. Measurement of financial instruments (i) Initial measurement On initial recognition, financial assets and financial liabilities are measured at the transaction price, i.e. the fair value of the consideration given or received (IFRS 13). In the case of financial instruments not at fair value through profit or loss, transaction costs of financial assets and financial liabilities carried at fair value are expensed in profit or loss. (ii) Subsequent measurement - Financial assets After initial recognition, the Bank shall measures a financial asset at: (a) Amortized cost Financial assets that are held in a business model to collect the contractual cash flows and contain contractual terms that give rise on specific dates to cash flows that are SPPI, are measured at amortized cost. The effective interest method is used in the calculation of the amortized cost of a financial asset or a financial liability and in the allocation and recognition of the interest revenue or interest expense in profit or loss over the relevant period. The effective interest rate (EIR) is the rate that exactly discounts estimated future cash payments or receipts through the expected life of the financial asset or financial liability to the gross carrying amount of a financial asset or to the amortized cost of a financial liability. Note 1 – General Information and Summary of Significant Accounting Policies, continued (b) Fair value through other comprehensive income (FVTOCI) Financial assets that are debt instruments held in a business model that is achieved by both collecting contractual cash flows and selling, and that contain contractual terms that give rise on specific dates to cash flows that are SPPI, are measured at FVTOCI. They are subsequently remeasured at fair value and changes therein (except for those relating to impairment |
Accounting Changes
Accounting Changes | 12 Months Ended |
Dec. 31, 2020 | |
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Accounting Changes | Note 2 - Accounting Changes No new accounting pronouncements have been adopted in the year ended December 31, 2020 in the consolidated financial statements. Starting January 1, 2019 the Bank changed the manner it accounts for leases by adopting IFRS 16 “Leases”. Additionally, it changed the manner in which it accounts for financial instruments starting January 1, 2018 by adopting IFRS 9 “Financial instruments”. |
Significant Events
Significant Events | 12 Months Ended |
Dec. 31, 2020 | |
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Significant Events | Note 3 - Significant Events As of December 31, 2020, the following significant events have influenced the operations of the Bank and its subsidiaries or the Consolidated Financial Statements: ITAÚ CORPBANCA Chief Executive Officer appointment On January 9, 2020, Mr. Manuel Olivares Rossetti, the Board of Directors, and the main shareholders communicated the decision to allow Mr. Olivares to serve as Chief Executive Officer of Itaú Corpbanca until January 29, 2020. The Board also agreed to appoint Mr. Gabriel Moura as the new Chief Executive Officer of Itaú Corpbanca, starting on January 30, 2020. Investment increase in Nexus S.A. On January 22, 2020 Itaú Corpbanca acquired 79,577 shares of Nexus S.A., corresponding to 1.9148% of its total equity, for an approximated amount of MCh$338. With this transaction the Bank’s participation increased to 14.8148%. Annual Ordinary Shareholders’ Meeting Agreements At the Ordinary Shareholders’ Meeting of Itaú Corpbanca, held on March 18, 2020, it was approved to distribute a dividend equivalent to 100% of the net income attributable to equity holders of the Bank for the year ended December 31, 2019, which represents an aggregate amount equal to MCh$127,065 payable to the shareholders of the Bank entitled to receive dividends in a proportion of $0.2479770771 per share. Payment Holiday, Relief Measures for our Clients and Government Aid Programs As part of the relief plan for our clients, the Bank granted a series of payment holidays to our clients, which mainly consist of the postponement of one to six installments on their loans under certain conditions. As of December 31, 2020 the Bank rescheduled installments for an approximated amount of Ch$398,086 million. Additionally, on April 28, 2020, the Chilean government through a governmental mechanism to guarantee loans for SMEs (FOGAPE) implemented the "FOGAPE COVID-19 credit lines" as a measure to aid the local economy. The program is aimed to aid clients in the commercial portfolio with annual sales of less than UF1,000,000 affected by the Covid-19 pandemic. The coverage of the guarantees is determined based on their sales which can range between 60% to 85% of the financing, after applying a deductible that may not exceed 5% of the guaranteed amount. Since the beginning of the program and until December 31, 2020, the Bank has carried out operations for an aggregate amount of Ch$803,080 million. The Central Bank of Chile (BCCh) created the new Conditional Funding Facility (FCIC) and the Liquidity Credit Line (LCL) in response to financial needs generated by the spread of the COVID-19 virus. Funds obtained through FCIC are guaranteed by high credit quality loans and / or bonds issued by the BCCh and have automatic and successively monthly renewal maturities, with a maximum term of 4 years from March 30, 2020 until March 30, 2024. The LCL differs from FCIC as is not guaranteed, has a maximum term of 2 years and is granted based on the amount of the Bank's average reserve requirements. Both, the FCIC and the LCL, accrue interests at the BCCh overnight rate in force on the date of each operation. Note 3 - Significant Events, continued Goodwill and Assets Generated in Business Combination Impairment As a result of the application of the requirements established in International Accounting Standard 36 “Impairment of assets”, the Bank, at the end of each reporting period, assess impairment indicators that affect the determination of the recoverable amount for its assets. During 2020, considering the evolution of the economic and health situation, the Bank continued to monitor and permanently assess the impacts of the pandemic caused by COVID-19 in its results, as well as the effects on significant estimates and judgments including provisions for credit risk and impairment on assets in general, and on Goodwill in particular. In consideration to the impacts on the economy, both in Chile, Colombia, Peru and the United States (main markets where Itaú Corpbanca operates), which have had various factors, including the COVID-19 pandemic, as has been described above and in accordance with the constant monitoring carried out by the Bank, we cconcluded that there was concrete evidence of impairment as a result of the deterioration of financial indicators such as the cost of credit, portfolio growth and capital cost. As a consequence of this assessment, an impairment test was performed as of June 30, 2020, on the valuation of the Goodwill and the intangibles assets generated in business combination assigned to the Chile and Colombia CGUs. During the period ended June 30, 2020 (1) an impairment loss allocated to the Goodwill assigned to the Chile CGU for Ch$412,356 million, (2) Ch$239,469 million corresponding to the total Goodwill assigned to the CGU Colombia and (3) Ch$113,911 million (Ch$79,364 million net of deferred taxes) that represent all of the intangibles generated in business combinations assigned to the Colombia CGU. The total impact of these effects on the result attributable to the Bank's owners is Ch$720,951 million and Ch$10,238 million corresponding to non-controlling interest. For further information see Note 32. |
Reporting Segments
Reporting Segments | 12 Months Ended |
Dec. 31, 2020 | |
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Reporting Segments | Note 4 - Reporting Segments The information reported by segments is determined by the Bank on the basis of its operating segments (Chile, which includes the New York branch, and Colombia), which are mainly differentiated by the risks and rewards that affect them. The reporting segments and the criteria used to inform the highest authority of the Bank on the decision making of the operation are in accordance with what is set forth in IFRS 8 “Operating segments”. a) Segments According to the above, the descriptions of each operating segment are as follows: i) Chile The Bank’s business activities in Chile take place mainly in the local market. It has strategically aligned its operations into the following five business areas that are directly related to its customers’ needs and the Bank’s strategy: 1) Wholesale Banking (a) Corporate Banking, (b) Large Companies, and (c) Real Estate and Construction; 2) Retail Banking (a) Itaú Private Bank, (b) Itaú Companies, (c) Itaú Personal Bank (d) Itaú and (e) Banco Condell; 3) Treasury; 4) Corporate; and 5) Other financial services. The Bank manages these business areas using a reporting system for internal profitability. The operating results are reviewed regularly by the entity’s Chief Operating Decision Maker (CODM) for operating decisions as one single reporting segment, to decide about resource allocation for the segment and evaluate its performance. ii) Colombia Colombia has been identified as a separate operating segment based on the business activities. Its operating results are regularly reviewed by the entity’s Chief Operating Decision Maker (CODM) for operating decisions as one single reporting segment, to decide on the resource allocation for the segment and evaluate its performance. Separate financial information is available for this reporting segment. The commercial activities of this segment are carried out by Itaú Corpbanca Colombia S.A. and subsidiaries The Bank did not enter into transactions with a particular customer or third party that exceed 10% of its total revenue in 2020, 2019 and 2018. a) Geographical information The segments reported by Itaú Corpbanca, discloses revenue from ordinary activities from external clients: (i) (ii) Note 4 - Reporting Segments, continued When revenue from external customers attributed to a particular foreign country is significant, it is disclosed separately. Pursuant to the foregoing, the Bank operates in two main geographic areas: Chile and Colombia. Chile reporting segment includes operations carried out by Itaú Corpbanca New York branch and the Colombia reporting segment includes the operations carried out by Itaú S.A. (Panama) and Itaú Casa de Valores S.A. The information on interest income and interest expenses for the years ended December 31, 2020, 2019 and 2018 of the aforementioned reporting segments is presented below: 2020 2019 2018 Chile Colombia Total Chile Colombia Total Chile Colombia Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Interest income 1,116,943 432,731 1,549,674 1,245,465 528,175 1,773,640 1,208,481 530,836 1,739,317 Interest expense (490,729) (192,508) (683,237) (631,279) (241,943) (873,222) (593,796) (257,858) (851,654) Net interest income 626,214 240,223 866,437 614,186 286,232 900,418 614,685 272,978 887,663 c) Information on assets, liabilities and income Segment information on assets and liabilities is presented as of December 31, 2020 and 2019. Note 4 - Reporting Segments, continued c.1) Assets and Liabilities As of December 31, 2020 Note Chile Colombia Total MCh$ MCh$ MCh$ Cash and deposits in banks 5a) 2,761,202 327,870 3,089,072 Cash items in process of collection 5b) 173,099 93 173,192 Financial instruments at fair value through profit or loss 6 145,671 437,039 582,710 Financial instruments at fair value through other comprehensive income 11 3,353,241 617,658 3,970,899 Loans and accounts receivable at amortized cost and interbank loans 9-10 17,503,371 4,079,858 21,583,229 Investment in associates 12 7,149 — 7,149 Financial instruments at amortized cost 11 7,202 104,340 111,542 Investments under resale agreements 7 84,173 21,407 105,580 Financial derivative contracts 8 3,817,286 165,517 3,982,803 Intangible assets (*) 13 682,695 35,988 718,683 Property, plant, and equipment 14 56,756 23,859 80,615 Right of use assets under lease agreements 15 117,513 28,495 146,008 Current taxes 16 44,976 19,723 64,699 Deferred taxes 16 264,668 47,888 312,556 Other assets 17a) 453,702 88,931 542,633 Other non-current assets held for sale 17b) 10,818 4,260 15,078 TOTAL ASSETS 29,483,522 6,002,926 35,486,448 As of December 31, 2020 Note Chile Colombia Total MCh$ MCh$ MCh$ LIABILITIES Deposits and other demand liabilities 18a) 3,939,501 2,257,905 6,197,406 Cash in process of being cleared 5b) 154,231 1 154,232 Obligations under repurchase agreements 7b) 399,593 239,258 638,851 Time deposits and other time liabilities 18b) 9,984,010 1,449,054 11,433,064 Financial derivative contracts 8 3,494,611 178,980 3,673,591 Interbank borrowings 19 3,393,160 405,818 3,798,978 Debt instruments issued 20 5,472,392 732,464 6,204,856 Other financial liabilities 20 13,123 — 13,123 Lease contracts liabilities 15 125,265 26,620 151,885 Current taxes 16 596 1,170 1,766 Deferred taxes 16 — 237 237 Provisions 21 33,310 101,780 135,090 Other liabilities 22a) 619,955 80,079 700,034 Liabilities directly associated with non-current assets held for sale 22b) — — — TOTAL LIABILITIES 27,629,747 5,473,366 33,103,113 (*) This includes goodwill generated in business combination between Itaú Chile and Corpbanca totaling MCh$492,512 as of December 31, 2020. Note 4 - Reporting Segments, continued As of December 31, 2019 Note Chile Colombia Total MCh$ MCh$ MCh$ Cash and deposits in banks 5a) 610,901 398,780 1,009,681 Cash items in process of collection 5b) 230,595 710 231,305 Financial instruments at fair value through profit or loss 6 112,224 71,478 183,702 Financial instruments at fair value through other comprehensive income 11 2,751,959 846,931 3,598,890 Loans and accounts receivable at amortized cost and interbank loans 9-10 17,651,839 4,659,254 22,311,093 Investment in associates 12 5,833 3,772 9,605 Financial instruments at amortized cost 11 30,123 85,535 115,658 Investments under resale agreements 7 46,686 29,289 75,975 Financial derivative contracts 8 3,061,530 93,427 3,154,957 Intangible assets (*) 13 1,154,457 419,976 1,574,433 Property, plant, and equipment 14 73,169 21,911 95,080 Right of use assets under lease agreements 15 128,868 38,573 167,441 Current taxes 16 30,773 54,743 85,516 Deferred taxes 16 200,747 7,910 208,657 Other assets 17a) 699,679 71,182 770,861 Other non-current assets held for sale 17b) 10,291 6,911 17,202 TOTAL ASSETS 26,799,674 6,810,382 33,610,056 As of December 31, 2019 Note Chile Colombia Total MCh$ MCh$ MCh$ LIABILITIES Deposits and other demand liabilities 18a) 2,765,496 2,107,952 4,873,448 Cash in process of being cleared 5b) 164,573 — 164,573 Obligations under repurchase agreements 7b) 499,136 60,321 559,457 Time deposits and other time liabilities 18b) 9,700,785 1,919,402 11,620,187 Financial derivative contracts 8 2,839,914 98,120 2,938,034 Interbank borrowings 19 1,883,900 762,856 2,646,756 Debt instruments issued 20 5,687,763 720,593 6,408,356 Other financial liabilities 20 12,966 — 12,966 Lease contracts liabilities 15 137,334 35,590 172,924 Current taxes 16 13 — 13 Deferred taxes 16 — 263 263 Provisions 21 88,579 89,248 177,827 Other liabilities 22a) 653,786 55,128 708,914 Liabilities directly associated with non-current assets held for sale 22b) — — — TOTAL LIABILITIES 24,434,245 5,849,473 30,283,718 (*) This includes goodwill generated in business combination between Itaú Chile and Corpbanca totaling MCh$1,194,331 as of December 31, 2019. Note 4 - Reporting Segments, continued c.2) Income for the years ended December 31, 2020, 2019, and 2018 2020 2019 2018 Chile Colombia Total Chile Colombia Total Chile Colombia Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Net interest income 626,214 240,223 866,437 614,186 286,232 900,418 614,685 272,978 887,663 Net fee and commission income 108,140 32,859 140,999 138,007 36,397 174,404 149,673 36,456 186,129 Net income from financial operations 25,031 85,856 110,887 152,600 (8,966) 143,634 128,264 44,491 172,755 Net foreign exchange gain (loss) (20,491) (53,973) (74,464) (24,389) 52,015 27,626 5,726 (23,691) (17,965) Other operating income 16,588 48,990 65,578 20,460 24,512 44,972 14,337 12,319 26,656 Provision for loan losses (310,429) (155,801) (466,230) (295,116) (87,562) (382,678) (127,804) (151,994) (279,798) NET OPERATING PROFIT 445,053 198,154 643,207 605,748 302,628 908,376 784,881 190,559 975,440 Depreciation and amortization (96,117) (30,327) (126,444) (86,593) (40,573) (127,166) (53,544) (33,273) (86,817) Operating expenses (*) (**) (896,152) (559,182) (1,455,334) (394,271) (215,096) (609,367) (442,943) (211,767) (654,710) OPERATING INCOME (LOSS) (547,216) (391,355) (938,571) 124,884 46,959 171,843 288,394 (54,481) 233,913 Income from investment in associates (2,794) — (2,794) 800 (268) 532 — — — Income taxes 73,965 41,245 115,210 (33,393) (14,460) (47,853) (85,269) 18,210 (67,059) CONSOLIDATED INCOME (LOSS) FOR THE YEAR (476,045) (350,110) (826,155) 92,291 32,231 124,522 203,125 (36,271) 166,854 (*) Includes personnel salaries and expenses, administrative expenses, impairment, and other operating expenses (**) As of December 31, 2020, includes the recognition of an impairment loss of MCh$814,879. The impairment is broken down into MCh$651,825 corresponding to the impairment on Goodwill, MCh$412,356 and MCh$239,469 of CGUs of Chile and Colombia, respectively, and MCh$113,911 corresponding to the intangibles generated in the business combination of the CGU Colombia. Intangible assets include impairment on Softwares and Licenses of MCh$38,849, which is broken down into MCh$ 34,524 and MCh$4,325 in the Chile CGU and Colombia CGU, respectively. In addition, the Chile CGU includes impairment of property, plant and equipment for MCh$10,294 . |
Cash and Cash Equivalents
Cash and Cash Equivalents | 12 Months Ended |
Dec. 31, 2020 | |
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Cash and Cash Equivalents | Note 5 - Cash and Cash Equivalents a) Detail of cash and cash equivalents The detail of balances included under cash and cash equivalents is as follows: As of December 31, 2020 2019 MCh$ MCh$ Cash and deposits in banks Cash 254,200 253,779 Deposits in the Central Bank of Chile 1,067,421 103,756 Deposits in local banks 27,017 14,254 Deposits in foreign banks 1,740,434 637,892 Subtotals cash and deposits in banks 3,089,072 1,009,681 Cash items in process of collection, net (1) 18,960 66,732 Highly liquid financial instruments (2) 1,337,754 295,551 Investments under resale agreements (3) 60,470 75,975 Totals cash and cash equivalents 4,506,256 1,447,939 (1) See letter b. “Cash in process of collection and in process of being cleared” on the next page. (2) Highly liquid financial instruments: Corresponds to financial instruments at fair value through profit and loss and financial instrument at fair value through othercomprehensive income with maturities that do not exceed three months from the acquisition date and the detail is as follows: As of December 31, Notes 2020 2019 MCh$ MCh$ Highly liquid financial instruments Financial instruments at fair value through profit or loss 6 132,043 28,772 Financial instruments at fair value through other comprehensive income 11 1,205,711 266,779 Totals 1,337,754 295,551 (3) Investments under resale agreements: Corresponds to resale agreements with maturities that do not exceed three months from the acquisition date, which are presented under the item "Investments under resale agreements" in the Consolidated Statement of Financial Position. The detail is as follows: As of December 31, Notes 2020 2019 MCh$ MCh$ Investment under resale agreements 7a) 60,470 75,975 Note 5 - Cash and Cash Equivalents, continued b) Cash in the process of collection and in process of being cleared Cash items in process of collection and in process of being cleared represent domestic transactions, which have not been processed through the central domestic clearinghouse, or international transactions that may be delayed in settlement due to timing differences. The detail of these balances is as follows: As of December 31, 2020 2019 MCh$ MCh$ Assets Documents held by other banks (documents to be cleared) 37,030 76,922 Funds receivable 136,162 154,383 Subtotals assets 173,192 231,305 Liabilities Funds payable 154,232 164,573 Subtotals liabilities 154,232 164,573 Cash items in process of collection, net 18,960 66,732 c) Other operating cash flows Based on the nature of its activities, the Bank considers that its funding has a direct relationship with its loan and investing portfolio; for such purpose all those activities are taken into consideration to determine, approve and monitor the financial strategies that guide the Bank with respect to the composition of its assets and liabilities, cash inflows and outflows and transactions with financial instruments. Finally, the Bank, based on its overall business strategy, considers that gains and losses derived from these transactions are part of the main revenue generating activities and core business, and that the presentation of the cash flows from those items under operating activities consequently shows consistency between our Consolidated Statement of Income (Loss) and our Consolidated Statement of Cash Flows. Examples of cash flows from operating activities are: i. Investments under resale agreements and obligations under repurchase agreements . These items represent the cash flows (collections and payments) corresponding to the purchase and sale of obligations and securities lending associated with financial intermediation activities (see Note 7). ii. Investments portfolio. This item represents the cash flows (collections and payments) of our trading and investment portfolios (see Notes 6 and 11). iii. Foreign borrowings and repayment of foreign borrowings. These items represent the cash flows (collections and payments) of obligations with foreign banks (see Note 19) for the financing of foreign trade loans, which are included as part of the following items: “Loans and receivables from banks” (see Note 9) and “Loans and receivables from customers” (see Note 10). iv. Increase and repayment of other borrowings. These items represent the cash flows (collections and payments) arising from the obligations corresponding to financing or operations specific to the business (see Note 20). |
Financial Instruments at Fair V
Financial Instruments at Fair Value through Profit or Loss | 12 Months Ended |
Dec. 31, 2020 | |
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Financial Instruments at Fair Value through Profit or Loss | Note 6 - Financial Instruments at Fair Value through Profit or Loss The detail of the financial instruments at fair value through profit or loss is as follows: As of December 31, 2020 2019 MCh$ MCh$ Chilean Central Bank and Government securities Central Bank of Chile securities 21,369 52,019 Other Chilean Central Bank and Government securities 86,673 28,879 Other Chilean securities Bonds 271 905 Notes — — Other securities — 22,218 Foreign financial securities Bonds 432,178 67,088 Other securities — 4,390 Investments in mutual funds Funds managed by related entities 4,861 5,870 Funds managed by third parties 33 Other investments Other financial instruments at FVTPL 2,341 2,300 Totals 582,710 183,702 As of December 31, 2020, financial instruments at fair value through profit or loss include MCh$132,043 (MCh$28,772 as of December 31, 2019) in instruments with maturities which do not exceed three months from the acquisition date and are considered as cash equivalents (see Note 5). |
Investments under Resale Agreem
Investments under Resale Agreements and Obligations under Repurchase Agreements | 12 Months Ended |
Dec. 31, 2020 | |
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Investments under Resale Agreements and Obligations under Repurchase Agreements | Note 7 - Investments under Resale Agreements and Obligations under Repurchase Agreements a) The Bank purchases financial instruments to resell them on a future date. As of December 31, 2020 and 2019 the instruments acquired under agreements to resell are as follows: As of December 31, 2020 As of December 31, 2019 Between 3 Between 3 Up to 3 months and Over 1 Up to 3 months and Over 1 months 1 year year Totals months 1 year year Totals MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Chilean Central Bank and Government securities Chilean Central Bank securities — — — — 20,593 — — 20,593 Government securities — 43,633 — 43,633 17,491 — — 17,491 Other Chilean Central Bank and Government securities — — — — — — — — Other Chilean securities Bonds 40,540 — — 40,540 8,603 — — 8,603 Notes — — — — — — — — Other securities — — — — — — — — Foreign financial securities Central Banks and Government securities 14,072 — 1,477 15,549 27,546 — — 27,546 Other foreign instruments 5,858 — — 5,858 1,742 — — 1,742 Totals 60,470 43,633 1,477 105,580 75,975 — — 75,975 b) As of December 31, 2020 and 2019, the instruments acquired under agreements to repurchase are as follows: As of December 31, 2020 As of December 31, 2019 Between 3 Between 3 Up to 3 months and Over 1 Up to 3 months and Over 1 months 1 year year Totals months 1 year year Totals MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Chilean Central Bank and Government securities Chilean Central Bank securities 310,565 — — 310,565 168,778 — — 168,778 Government securities 49,337 — — 49,337 11,970 — — 11,970 Other Chilean Central Bank and Government securities — — — — — — — — Other Chilean securities Bonds 39,691 — — 39,691 318,389 — — 318,389 Notes — — — — — — — — Other Chilean securities — — — — — — — — Foreign financial securities Central Banks and Government securities — — — — — — — — Other foreign instruments 239,258 — — 239,258 60,320 — — 60,320 Totals 638,851 — — 638,851 559,457 — — 559,457 |
Financial Derivative Contracts
Financial Derivative Contracts and Hedge Accounting | 12 Months Ended |
Dec. 31, 2020 | |
Text block [Abstract] | |
Financial Derivative Contracts and Hedge Accounting | Note 8 - Financial Derivative Contracts and Hedge Accounting a) Total derivative contracts portfolio The Bank and subsidiaries use the following derivative financial instruments for hedge accounting and trading purposes, which, in order to capture the credit risk in the valuation, are adjusted to reflect the CVA (Credit Value Adjustment) and DVA (Debit Value Adjustment). The detail of these instruments is presented below: As of December 31, 2020 As of December 31, 2019 Assets Liabilities Assets Liabilities MCh$ MCh$ MCh$ MCh$ Derivatives held for hedge accounting 306,472 162,450 203,868 144,069 Derivatives held for trading 3,676,331 3,511,141 2,951,089 2,793,965 Totals 3,982,803 3,673,591 3,154,957 2,938,034 a.1) Financial derivative assets As of December 31, 2020 Notional Between 3 months Up to 3 months and 1 year Over 1 year Fair value MCh$ MCh$ MCh$ MCh$ Currency forwards 7,882,839 2,358,854 417,178 472,208 Currency swaps 246,599 932,372 8,656,771 938,762 Interest rate swaps 3,828,930 6,424,682 26,020,406 2,570,553 Call currency options 13,402 15,483 — 195 Put currency options 7,797 10,514 — 1,085 Totals 11,979,567 9,741,905 35,094,355 3,982,803 As of December 31, 2019 Notional Between 3 months Up to 3 months and 1 year Over 1 year Fair value MCh$ MCh$ MCh$ MCh$ Currency forwards 8,174,950 3,931,647 1,234,741 454,300 Currency swaps 217,953 923,526 6,640,937 855,780 Interest rate swaps 4,125,562 7,225,228 31,308,891 1,840,855 Call currency options 34,713 49,753 748 3,805 Put currency options 5,067 15,940 — 217 Totals 12,558,245 12,146,094 39,185,317 3,154,957 Note 8 - Financial Derivative Contracts and Hedge Accounting, continued a.2) Financial derivative liabilities As of December 31, 2020 Notional Between 3 months Up to 3 months and 1 year Over 1 year Fair value MCh$ MCh$ MCh$ MCh$ Currency forwards 7,913,739 1,989,333 935,565 433,863 Currency swaps 335,192 953,275 7,480,516 775,122 Interest rate swaps 3,509,633 6,205,021 27,404,647 2,463,249 Call currency options 9,434 15,404 — 271 Put currency options 5,753 5,786 — 1,086 Totals 11,773,751 9,168,819 35,820,728 3,673,591 As of December 31, 2019 Notional Between 3 months Up to 3 months and 1 year Over 1 year Fair value MCh$ MCh$ MCh$ MCh$ Currency forwards 11,622,926 4,440,565 830,870 504,276 Currency swaps 182,481 831,635 6,249,881 769,072 Interest rate swaps 2,939,069 6,101,205 29,362,545 1,662,363 Call currency options 31,482 51,810 — 1,758 Put currency options 18,837 39,941 374 565 Totals 14,794,795 11,465,156 36,443,670 2,938,034 Note 8 - Financial Derivative Contracts and Hedge Accounting, continued a.3) Portfolio detail As of December 31, 2020 and 2019, the portfolio of financial derivative instruments held for hedge accounting and trading purposes is as follows: As of December 31, 2020 Notional Fair value Between 3 months and Up to 3 months 1 year Over 1 year Assets Liabilities MCh$ MCh$ MCh$ MCh$ MCh$ Derivatives held for hedge accounting 3,704,562 965,569 2,261,626 306,472 162,450 Fair value hedge Currency forwards — — — — — Currency swaps — — 74,894 9,666 — Interest rate swaps — 201,193 1,960,759 203,913 61,705 Subtotals — 201,193 2,035,653 213,579 61,705 Cash flow hedge Currency forwards 1,657,848 716,842 178,107 3,919 33,112 Currency swaps — — — — — Interest rate swaps 4,000 29,233 47,866 2,094 238 Subtotals 1,661,848 746,075 225,973 6,013 33,350 Hedge of net investment in a foreign operation Currency forwards 2,042,714 18,301 — 86,880 67,395 Subtotals 2,042,714 18,301 — 86,880 67,395 Derivatives held for trading 20,048,756 17,945,155 68,653,457 3,676,331 3,511,141 Currency forwards 12,096,016 3,613,044 1,174,636 381,409 333,356 Currency swaps 581,791 1,885,647 16,062,393 929,096 775,122 Interest rate swaps 7,334,563 12,399,277 51,416,428 2,364,546 2,401,306 Call currency options 22,836 30,887 — 195 271 Put currency options 13,550 16,300 — 1,085 1,086 Subtotals 20,048,756 17,945,155 68,653,457 3,676,331 3,511,141 Totals 23,753,318 18,910,724 70,915,083 3,982,803 3,673,591 Note 8 - Financial Derivative Contracts and Hedge Accounting, continued As of December 31, 2019 Notional Fair value Between 3 months and Up to 3 months 1 year Over 1 year Assets Liabilities MCh$ MCh$ MCh$ MCh$ MCh$ Derivatives held for hedge accounting 3,679,576 1,371,790 3,072,685 203,868 144,069 Fair value hedge Currency forwards — — — — — Currency swaps — — 47,463 — 1,479 Interest rate swaps — 29,342 1,952,968 152,011 50,247 Subtotals — 29,342 2,000,431 152,011 51,726 Cash flow hedge Currency forwards 1,426,697 849,243 556,633 4,174 17,798 Currency swaps — 47,155 78,592 6,145 2,703 Interest rate swaps 32,408 — 437,029 2,722 5,820 Subtotals 1,459,105 896,398 1,072,254 13,041 26,321 Hedge of net investment in a foreign operation Currency forwards 2,220,471 446,050 — 38,816 66,022 Subtotal 2,220,471 446,050 — 38,816 66,022 Derivatives held for trading 23,673,464 22,239,460 72,556,302 2,951,089 2,793,965 Currency forwards 16,150,708 7,076,919 1,508,978 411,310 420,456 Currency swaps 400,434 1,708,006 12,764,763 849,635 764,890 Interest rate swaps 7,032,223 13,297,091 58,281,439 1,686,122 1,606,296 Call currency options 66,195 101,563 748 3,805 1,758 Put currency options 23,904 55,881 374 217 565 Subtotals 23,673,464 22,239,460 72,556,302 2,951,089 2,793,965 Totals 27,353,040 23,611,250 75,628,987 3,154,957 2,938,034 b) Hedge accounting b.1) Fair value hedges The Bank uses interest rate derivatives to manage its structural risk by minimizing accounting asymmetries in the Statement of Financial Position. Through different hedging strategies, it redenominates an element originally at a fixed rate to a floating rate, thus decreasing the financial duration and consequently risk, aligning the balance sheet structure with expected movements in the yield curve. Note 8 - Financial Derivative Contracts and Hedge Accounting, continued The following table presents the hedged items and the hedging instrument at fair value as of December 31, 2020 and 2019, detailed by maturity: As of December 31, 2020 Notional Between 1 Between 3 and Up to 1 year and 3 years 6 years Over 6 years Totals MCh$ MCh$ MCh$ MCh$ MCh$ Hedged items Loans and accounts receivable from customers Mortgage loans (1) 162,429 242,180 16,753 241,691 663,053 Time deposits and other time liabilities Time deposits — 20,472 5,817 — 26,289 Financial instruments at FVTPL Treasury bonds 9,950 187,635 20,540 37,527 255,652 Debt instruments issued Senior bonds 29,070 70,000 428,077 688,967 1,216,114 Interbank borrowings Interbank loans — 75,994 — — 75,994 Totals 201,449 596,281 471,187 968,185 2,237,102 Hedging instruments Currency swaps — 74,894 — — 74,894 Interest rate swaps 201,193 521,387 471,187 968,185 2,161,952 Totals 201,193 596,281 471,187 968,185 2,236,846 (1) Colombia: The information includes the effects on the hedge item generated by prepayments; therefore, cash flows from the hedge item and the hedging instrument are not perfectly balanced. As of December 31, 2019 Notional Between 1 Between 3 and Up to 1 year and 3 years 6 years Over 6 years Totals MCh$ MCh$ MCh$ MCh$ MCh$ Hedged items Loans and accounts receivable from customers Commercial and mortgage loans 1,032 — — — 1,032 Mortgage loans (1) — 342,159 80,629 263,067 685,855 Financial instruments at FVTPL Treasury bonds — 52,704 49,932 25,458 128,094 Debt instruments issued Senior bonds 28,310 98,310 80,620 1,007,834 1,215,074 Totals 29,342 493,173 211,181 1,296,359 2,030,055 Hedging instruments Currency swaps — 47,463 — — 47,463 Interest rate swaps 29,342 445,428 211,181 1,296,359 1,982,310 Totals 29,342 492,891 211,181 1,296,359 2,029,773 (1) Colombia: The information includes the effects on the hedge item generated by prepayments; therefore, cash flows from the hedge item and the hedging instrument are not perfectly balanced. Note 8 - Financial Derivative Contracts and Hedge Accounting, continued Below is an estimate of the periods in which flows are expected to be produced: Forecasted cash flows by interest rate risk: As of December 31, 2020 Notional Between 1 and Between 3 and Up to 1 year 3 years 6 years Over 6 years Totals MCh$ MCh$ MCh$ MCh$ MCh$ Hedged items Inflows (*) 12,496 191,835 11,437 3,563 219,331 Outflows (18,448) (130,799) (48,778) (43,439) (241,464) Net Flows (5,952) 61,036 (37,341) (39,876) (22,133) Hedging instruments (**) Outflows 18,448 130,799 48,778 43,439 241,464 Inflows (12,240) (191,835) (11,437) (3,563) (219,075) Net flows 6,208 (61,036) 37,341 39,876 22,389 (*) Colombia: The information includes the effects on the hedge item generated by prepayments; therefore, cash flows from the hedge item and the hedging instrument are not perfectly balanced. (**) Only includes cash flows forecast portion of the hedge instruments used to cover interest rate risk. As of December 31, 2019 Notional Between 1 and Between 3 and Up to 1 year 3 years 6 years Over 6 years Totals MCh$ MCh$ MCh$ MCh$ MCh$ Hedged items Inflows (*) 9,890 66,797 13,343 4,570 94,600 Outflows (45,795) (36,038) (129,595) (54,460) (265,888) Net flows (35,905) 30,759 (116,252) (49,890) (171,288) Hedging instruments (**) Outflows (9,890) (66,515) (13,343) (4,570) (94,318) Inflows 45,795 36,038 129,595 54,460 265,888 Net flows 35,905 (30,477) 116,252 49,890 171,570 (*) Colombia: The information includes the effects on the hedge item generated by prepayments; therefore, cash flows from the hedge item and the hedging instrument are not perfectly balanced. (**) Only includes cash flows forecast portion of the hedge instruments used to cover interest rate risk. b.2) Cash flow hedges: Cash flow hedge is used by the Bank mainly to: · Reduce the volatility of cash flows in items in the Statement of Financial position that are indexed to inflation through the use of inflation forwards and combinations of swaps in pesos and indexed units. · Set the rate of a portion of the pool of short-term liabilities in pesos, thus reducing the risk of an important part of the Bank’s cost of funding, although still maintaining the liquidity risk of the pool. This is achieved by setting the cash flows of the hedged items equal to those of the derivative instruments, modifying uncertain cash flows for certain cash flows. Note 8 - Financial Derivative Contracts and Hedge Accounting, continued · It also sets the rate of funding sources at a floating rate, decreasing the risk that its funding costs increase. The following table presents the nominal values of the hedged item as of December 31, 2020 and 2019: As of December 31, 2020 Notional Between 1 and Between 3 and Up to 1 year 3 years 6 years Over 6 years Totals MCh$ MCh$ MCh$ MCh$ MCh$ Hedged item Loans and accounts at amortized cost Loans (inflation-indexed) 2,103,296 174,422 — — 2,277,718 Commercial loans (interest rate) 23,000 20,000 — — 43,000 Debt instruments issued Senior bonds — 27,866 — — 27,866 Interbank borrowings Interbank loans 240,831 3,685 — — 244,516 Forecast transaction Payment in USD 40,796 — — — 40,796 Totals 2,407,923 225,973 — — 2,633,896 Hedging instruments Currency forwards 2,374,690 178,107 — — 2,552,797 Currency swaps — — — — — Interest rate swaps 33,233 47,866 — — 81,099 Totals 2,407,923 225,973 — — 2,633,896 As of December 31, 2019 Notional Between 1 and Between 3 and Up to 1 year 3 years 6 years Over 6 years Totals MCh$ MCh$ MCh$ MCh$ MCh$ Hedged item Loans and accounts at amortized cost Loans (inflation-indexed) 1,804,079 566,729 — — 2,370,808 Commercial loans (interest rate) 5,000 43,000 — — 48,000 Time deposits and other time liabilities Time deposits 27,408 — 342,633 41,300 411,341 Interbank borrowings Interbank loans 476,036 — 78,592 — 554,628 Forecast transaction Payment in USD 42,979 — — — 42,979 Totals 2,355,502 609,729 421,225 41,300 3,427,756 Hedging instruments Currency forwards 2,275,939 556,633 — — 2,832,572 Currency swaps 47,155 — 78,592 — 125,747 Interest rate swaps 32,408 53,096 342,633 41,300 469,437 Totals 2,355,502 609,729 421,225 41,300 3,427,756 Note 8 - Financial Derivative Contracts and Hedge Accounting, continued Below is an estimate of the periods in which flows are expected to occur. As of December 31, 2020 Notional Between 1 and Between 3 and Up to 1 year 3 years 6 years Over 6 years Totals MCh$ MCh$ MCh$ MCh$ MCh$ Hedged items Inflows 47,490 5,925 — — 53,415 Outflows (240,854) (31,551) — — (272,405) Net Flows (193,364) (25,626) — — (218,990) Hedging instruments (*) Outflows 240,854 31,551 — — 272,405 Inflows (47,490) (5,925) — — (53,415) Net flows 193,364 25,626 — — 218,990 As of December 31, 2019 Notional Between 1 and Between 3 and Up to 1 year 3 years 6 years Over 6 years Totals MCh$ MCh$ MCh$ MCh$ MCh$ Hedged items Inflows 43,430 23,797 — — 67,227 Outflows (484,997) (17,615) (13,260) (941) (516,813) Net Flows (441,567) 6,182 (13,260) (941) (449,586) Hedging instruments (*) Outflows (43,430) (23,797) — — (67,227) Inflows 484,997 17,615 13,260 941 516,813 Net flows 441,567 (6,182) 13,260 941 449,586 (*) Only includes cash flows forecast portion of the hedge instruments used to cover interest rate risk. As of December 31, 2020 2019 Effective Ineffective Effective Ineffective portion portion portion portion MCh$ MCh$ MCh$ MCh$ Hedged item Loans and accounts receivables from customers Loans (inflation-indexed) (527) (37) (3,698) (516) Commercial loans (interest rate) 1,654 140 1,135 289 Time deposits and other time liabilities Time deposits (1,090) (1) (4,275) 91 Debt instruments issued Senior bonds (34) — — — Interbank borrowings Interbank loans 2,320 (7) (3,019) (8) Forecast transaction Payment in USD 882 — 3,065 — Totals 3,205 95 (6,792) (144) Note 8 - Financial Derivative Contracts and Hedge Accounting, continued The effective portion generated by cash flow derivatives recorded in the Statement of Changes in Equity as of December 31, 2020 and 2019. The ineffective portion is recognized immediately in the Consolidated Statement of Income (Loss). This ineffectiveness is generated because both the hedged item and the hedged object do not mirror each other, which means that changes in value attributable to rate and reset components are not fully offset, but remain within the effectiveness range defined by the standard. The income generated by cash flow hedge derivatives whose effect was transferred from Other Comprehensive Income (Loss) to Income for the year, is as follow: For the year ended 2020 2019 MCh$ MCh$ Hedged item Loans and accounts receivables from customers Loans (inflation-indexed) 1,617 3,681 Commercial loans (interest rate) 505 (1,134) Time deposits and other time liabilities Time deposits (*) (4,324) 4,088 Debt instruments issued Senior bonds — — Interbank borrowings Interbank loans — — Forecast Transaction Payment in USD — — Totals (2,202) 6,635 (*) Includes the effects of the discontinuing cash flow hedge strategy on time deposits. b.3) Hedge of net investment in foreign operations: Itaú Corpbanca, the parent company whose functional currency is the Chilean peso, has foreign business investments consisting of a branch in New York and subsidiaries in Colombia. As a result of the proper accounting treatment for these investments, fluctuations in the value of the investments as a result of changes in the Chilean peso-Colombian peso exchange rate alter the parent company’s equity. The objective of these hedges is to safeguard the value of equity by managing exchange rate risk affecting the investments. Hedges of a net investment in a foreign operation, including hedges of monetary items that are accounted for as part of a net investment, are recorded to cash flow hedges, where: · The portion of the gain or loss from the hedge instrument that is determined to be an effective hedge is recognized in equity. As of December 31, 2020, this was a credit of MCh$48,171 (debit of MCh$10,756 net of deferred taxes as of December 31, 2019). Note 8 - Financial Derivative Contracts and Hedge Accounting, continued · The ineffective portion is recognized in profit or loss. No such amounts were recorded in 2020 and 2019. As of December 31, Notes 2020 2019 MCh$ MCh$ Opening balances (10,756) 21,657 Gains (losses) on hedge of net investment in foreign operation, before tax 24 b. 80,722 (46,786) Income tax relating to hedges of net investment in foreign operations 24 b. (21,795) 14,373 Ending balances 48,171 (10,756) Each hedge is detailed in the table below: Hedge of net investment As of December 31, 2020 Statements of Changes in Statement Notional Equity of Income Effective Between 1 and Between 3 and portion for the Ineffective Up to 1 year 3 years 6 years Over 6 years year portion MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Hedged items Net investment in New York Branch 1,897,025 — — — 51,803 — Net investment in Itaú Corpbanca Colombia 163,990 — — — (8,231) — Total 2,061,015 — — — 43,572 — Hedging instrument — — — — Foreign currency forwards 2,061,015 — — — 43,572 — As of December 31, 2019 Statements of Changes in Statement Notional Equity of Income Effective Between 1 and Between 3 and portion for the Ineffective Up to 1 year 3 years 6 years Over 6 years year portion MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Hedged items Net investment in New York Branch 2,360,798 — — — (35,744) — Net investment in Itaú Corpbanca Colombia 305,723 — — — (11,042) — Total 2,666,521 — — — (46,786) — Hedging instrument Foreign currency forwards 2,666,521 — — — (46,786) — |
Interbank Loans
Interbank Loans | 12 Months Ended |
Dec. 31, 2020 | |
Text block [Abstract] | |
Interbank Loans | Note 9 - Interbank Loans a) As of December 31, 2020 and 2019, the balances presented under the item "Interbank loans, net" are as follow: As of December 31, 2020 2019 MCh$ MCh$ Local banks Loans to local banks — — Allowances for loans losses — — Subtotals — — Foreign banks Interbank cash loans — 37,048 Loans to foreign banks — 755 Non-transferable deposits with foreign banks 7,131 18,832 Allowances for loans losses (10) (239) Subtotals 7,121 56,396 Chilean Central Bank Deposits with the Chilean Central Bank not available — — Subtotals — — Totals 7,121 56,396 b) Movements in provisions and impairment for local and foreign interbank loans during the year ended December 31, 2020 and 2019 are as follows: Foreign banks 2020 2019 Stage 1 Stage 2 Stage 2 Stage 1 Stage 2 Stage 2 12-Month ECL Lifetime ECL Lifetime ECL Totals 12-Month ECL Lifetime ECL Lifetime ECL Totals MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Opening balances as of January 1, (239) — — (239) (463) — — (463) Changes in the allowances - Transfer to stage 1 — — — — — — — — - Transfer to stage 2 — — — — — — — — - Transfer to stage 3 — — — — — — — — - Increases due to change in credit risk — — — — — — — — - Decreases due to change in credit risk — — — — — — — — - Charge-offs — — — — — — — — - Changes due to modifications that did not result in derecognition — — — — — — — — New financial assets originated or purchased (10) — — (10) (316) — — (316) Financial assets that have been derecognized 218 — — 218 574 — — 574 Changes in models/risk parameters — — — — — — — — Foreign exchange and other movements 21 — — 21 (34) — — (34) Ending balances as of December 31, (10) — — (10) (239) — — (239) |
Loans and Accounts Receivable f
Loans and Accounts Receivable from Customers | 12 Months Ended |
Dec. 31, 2020 | |
Text block [Abstract] | |
Loans and Accounts Receivable from Customers | Note 10 - Loans and Accounts Receivable from Customers a) Loans and accounts receivable from customers As of December 31, 2020, the loan portfolio is detailed as follows: Allowances for loan losses Individual Group As of December 31, 2020 Gross Assets allowances allowances Totals Net assets MCh$ MCh$ MCh$ MCh$ MCh$ Commercial loans: Commercial loans 12,172,207 (321,444) (347,928) (669,372) 11,502,835 Foreign trade loans 847,086 — (21,641) (21,641) 825,445 Checking account debtors 70,126 — (8,080) (8,080) 62,046 Factoring transactions 155,540 — (4,053) (4,053) 151,487 Student loans 594,688 — (17,702) (17,702) 576,986 Leasing transactions 940,989 — (24,402) (24,402) 916,587 Other commercial loans and receivables 28,163 — (2,367) (2,367) 25,796 Subtotals 14,808,799 (321,444) (426,173) (747,617) 14,061,182 Mortgage loans: Loans with mortgage finance bonds 23,345 — (232) (232) 23,113 Endorsable mutual mortgage loans 90,456 — (1,047) (1,047) 89,409 Other mutual mortgage loans 4,820,863 — (59,799) (59,799) 4,761,064 Mortgage leasing transactions 307,574 — (11,718) (11,718) 295,856 Other mortgage loans and receivables 74,515 — (669) (669) 73,846 Subtotals 5,316,753 — (73,465) (73,465) 5,243,288 Consumer loans: Installment consumer loans 1,866,015 — (181,319) (181,319) 1,684,696 Checking account debtors 124,009 — (11,064) (11,064) 112,945 Credit card balances 467,624 — (24,770) (24,770) 442,854 Consumer leasing transactions 1,467 — (182) (182) 1,285 Other consumer loans and receivables 33,314 — (3,456) (3,456) 29,858 Subtotals 2,492,429 — (220,791) (220,791) 2,271,638 Totals 22,617,981 (321,444) (720,429) (1,041,873) 21,576,108 Note 10 - Loans and Accounts Receivable from Customers, continued As of December 31, 2019, the loan portfolio is detailed as follows: Allowances for loan losses Individual Group As of December 31, 2019 Gross Assets allowances allowances Totals Net assets MCh$ MCh$ MCh$ MCh$ MCh$ Commercial loans: Commercial loans 12,288,810 (193,135) (224,925) (418,060) 11,870,750 Foreign trade loans 1,109,169 — (74,488) (74,488) 1,034,681 Checking account debtors 154,276 — (10,508) (10,508) 143,768 Factoring transactions 221,104 — (3,694) (3,694) 217,410 Student loans 654,721 — (19,442) (19,442) 635,279 Leasing transactions 1,005,209 — (16,302) (16,302) 988,907 Other commercial loans and receivables 27,255 — (2,705) (2,705) 24,550 Subtotals 15,460,544 (193,135) (352,064) (545,199) 14,915,345 Mortgage loans: Loans with mortgage finance bonds 30,269 — (378) (378) 29,891 Endorsable mutual mortgage loans 103,850 — (1,408) (1,408) 102,442 Other mutual mortgage loans 4,384,547 — (63,528) (63,528) 4,321,019 Mortgage leasing transactions 336,587 — (12,879) (12,879) 323,708 Other mortgage loans and receivables 20,788 — (308) (308) 20,480 Subtotals 4,876,041 — (78,501) (78,501) 4,797,540 Consumer loans: Installment consumer loans 2,005,038 — (193,726) (193,726) 1,811,312 Checking account debtors 206,738 — (20,106) (20,106) 186,632 Credit card balances 537,741 — (37,998) (37,998) 499,743 Consumer leasing transactions 3,113 — (227) (227) 2,886 Other consumer loans and receivables 45,599 — (4,360) (4,360) 41,239 Subtotals 2,798,229 — (256,417) (256,417) 2,541,812 Totals 23,134,814 (193,135) (686,982) (880,117) 22,254,697 Guarantees received by the Bank to secure collections of rights reflected in its loan portfolios are real mortgage-type guarantees (urban and rural property, farm land, ships and aircraft, mining claims and other assets) and pledges (inventory, farm assets, industrial assets, plantings and other pledged assets). As of December 31, 2020 and 2019, the fair value of guarantees received corresponds to 145.15% and 135.51% of the assets guaranteed, respectively. In the case of mortgage guarantees, as of December 31, 2020 and 2019, the fair value of the guarantees received corresponds to 96.88% and 89.87% of the outstanding receivable balance on loans, respectively. The Bank finances its customers’ purchases of assets, including real estate and other personal property, through financial lease agreements that are presented within this item. As of December 31, 2020, the Bank recorded MCh$ 877,510 in finance leases for property (MCh$628,823 as of December 31, 2019) and MCh$372,827 in financial leases for real estate assets (MCh$716,401 as of December 31, 2019). Note 10 - Loans and Accounts Receivable from Customers, continued As of December 31, 2020, the Bank pledged as collateral to the Central Bank of Chile (BCCh) loans from the commercial portfolio in order to access the new Conditional Funding Facility (FCIC). The program includes access to 4-year funds at the BCCh overnight rate, with available funds size increasing as a function of additional loans pledged as collateral. The pledged loans have an outstanding principal balance of Ch$1,766,997 million. Additional disclosures on FCIC are included in Notes 19 and 23, letter e). The following tables present the movements for the total loan portfolio disaggregated by individually and group assesed loans for the year ended December 31, 2020 and 2019: Individually assessed Group assessed Stage 1 Stage 2 Stage 3 Stage 1 Stage 2 Stage 3 12-Month Lifetime Lifetime 12-Month Lifetime Lifetime ECL ECL ECL Subtotals ECL ECL ECL Subtotals Totals Loan portfolio Opening balances as of January 1, 2020 20,807 321,488 268,211 610,506 18,691,115 2,864,199 968,994 22,524,308 23,134,814 Changes in the allowances - Transfer to stage 1 — — — — 627,546 (601,963) (25,583) — — - Transfer to stage 2 (7,573) 7,573 — — (1,791,800) 1,876,532 (84,732) — — - Transfer to stage 3 (5,410) (84,512) 89,922 — (69,979) (153,174) 223,153 — — - Charge-offs — — (198) (198) (15,705) (38,228) (261,634) (315,567) (315,765) - Changes due to modifications that did not result in derecognition — (1,810) (1,279) (3,089) (235,650) (25,330) (1,908) (262,888) (265,977) New financial assets originated or purchased 32,170 80,355 122,624 235,149 6,798,612 1,474,294 408,576 8,681,482 8,916,631 Financial assets that have been derecognized (13,399) (73,546) (104,964) (191,909) (7,224,940) (837,836) (195,902) (8,258,678) (8,450,587) Net transfer (from) group to individually assessed 49,231 170,722 152,019 371,972 (49,231) (170,722) (152,019) (371,972) — Foreign exchange and other movements 25,096 79,267 (37,840) 66,523 (402,950) (110,636) 45,928 (467,658) (401,135) Ending balances as of December 31, 2020 100,922 499,537 488,495 1,088,954 16,327,018 4,277,136 924,873 21,529,027 22,617,981 Individually assessed Group assessed Stage 1 Stage 2 Stage 3 Stage 1 Stage 2 Stage 3 12-Month Lifetime Lifetime 12-Month Lifetime Lifetime ECL ECL ECL Subtotals ECL ECL ECL Subtotals Totals Loan portfolio Opening balances as of January 1, 2019 — 367,611 140,943 508,554 17,697,774 2,532,128 744,034 20,973,936 21,482,490 Changes in the allowances — — - Transfer to stage 1 — — — — 392,454 (371,983) (20,471) — — - Transfer to stage 2 — — — — (749,463) 816,577 (67,114) — — - Transfer to stage 3 — (116,202) 116,202 — (113,903) (192,565) 306,468 — — - Charge-offs — — (21,841) (21,841) (13,979) (22,862) (114,590) (151,431) (173,272) - Changes due to modifications that did not result in derecognition — — — — — — — — — New financial assets originated or purchased — 55,367 32,129 87,496 6,487,407 583,765 184,664 7,255,836 7,343,332 Financial assets that have been derecognized — (46,681) (11,754) (58,435) (5,024,522) (771,046) (201,451) (5,997,019) (6,055,454) Net transfer (from) group to individually assessed 20,807 25,659 — 46,466 (20,807) (25,659) — (46,466) — Foreign exchange and other movements — 35,734 12,532 48,266 36,154 315,844 137,454 489,452 537,718 Ending balances as of December 31, 2019 20,807 321,488 268,211 610,506 18,691,115 2,864,199 968,994 22,524,308 23,134,814 Note 10 - Loans and Accounts Receivable from Customers, continued The following table presents the movements for the Commercial loans portfolio disaggregated by individually and group assessed loans for the year ended December 31, 2020: Individually assessed Group assessed Stage 1 Stage 2 Stage 3 Stage 1 Stage 2 Stage 3 12-Month Lifetime Lifetime 12-Month Lifetime Lifetime ECL ECL ECL Subtotals ECL ECL ECL Subtotals Totals Opening balances as of January 1, 2020 20,807 321,488 268,211 610,506 12,445,411 1,725,817 678,810 14,850,038 15,460,544 Changes in the allowances - Transfer to stage 1 — — — — 196,395 (188,266) (8,129) — — - Transfer to stage 2 (7,573) 7,573 — — (829,499) 848,497 (18,998) — — - Transfer to stage 3 (5,410) (84,512) 89,922 — (37,142) (95,739) 132,881 — — - Charge-offs — — (198) (198) (443) (2,370) (165,651) (168,464) (168,662) - Changes due to modifications that did not result in derecognition — (1,810) (1,279) (3,089) (156,731) (11,529) (2,906) (171,166) (174,255) New financial assets originated or purchased 32,170 80,355 122,624 235,149 5,000,040 1,070,353 357,615 6,428,008 6,663,157 Financial assets that have been derecognized (13,399) (73,546) (104,964) (191,909) (5,865,418) (508,072) (143,255) (6,516,745) (6,708,654) Net transfer (from) group to individually assessed 49,231 170,722 152,019 371,972 (49,231) (170,722) (152,019) (371,972) — Foreign exchange and other movements 25,096 79,267 (37,840) 66,523 (275,404) (103,453) 49,003 (329,854) (263,331) Ending balances as of December 31, 2020 100,922 499,537 488,495 1,088,954 10,427,978 2,564,516 727,351 13,719,845 14,808,799 The following table presents the movements for the Commercial loans portfolio disaggregated by individually and group assessed loans for the year ended December 31, 2019: Individually assessed Group assessed Stage 1 Stage 2 Stage 3 Stage 1 Stage 2 Stage 3 12-Month Lifetime Lifetime 12-Month Lifetime Lifetime ECL ECL ECL Subtotals ECL ECL ECL Subtotals Totals Opening balances as of January 1, 2019 — 367,611 140,943 508,554 11,935,270 1,428,951 494,125 13,858,346 14,366,900 Changes in the allowances - Transfer to stage 1 — — — — 158,836 (145,228) (13,608) — — - Transfer to stage 2 — — — — (430,358) 454,203 (23,845) — — - Transfer to stage 3 — (116,202) 116,202 — (85,689) (113,481) 199,170 — — - Charge-offs — — (21,841) (21,841) (654) (1,314) (74,877) (76,845) (98,686) - Changes due to modifications that did not result in derecognition — — — — — — — — — New financial assets originated or purchased — 55,367 32,129 87,496 4,901,848 341,720 115,347 5,358,915 5,446,411 Financial assets that have been derecognized — (46,681) (11,754) (58,435) (4,049,247) (506,777) (149,445) (4,705,469) (4,763,904) Net transfer (from) group to individually assessed 20,807 25,659 — 46,466 (20,807) (25,659) — (46,466) — Foreign exchange and other movements — 35,734 12,532 48,266 36,212 293,402 131,943 461,557 509,823 Ending balances as of December 31, 2019 20,807 321,488 268,211 610,506 12,445,411 1,725,817 678,810 14,850,038 15,460,544 Note 10 - Loans and Accounts Receivable from Customers, continued The following table presents the movements of the Mortgage loans portfolio for the year ended December 31, 2020: Group assessed Stage 1 Stage 2 Stage 3 12-Month Lifetime Lifetime ECL ECL ECL Totals Opening balances as of January 1, 2020 4,043,765 656,010 176,266 4,876,041 Changes in the allowances - Transfer to stage 1 265,412 (259,632) (5,780) — - Transfer to stage 2 (613,181) 669,912 (56,731) — - Transfer to stage 3 (7,706) (36,114) 43,820 — - Charge-offs — (63) (12,428) (12,491) - Changes due to modifications that did not result in derecognition (27,511) (6,693) 612 (33,592) New financial assets originated or purchased 971,616 76,558 2,117 1,050,291 Financial assets that have been derecognized (411,059) (71,328) (22,524) (504,911) Foreign exchange and other movements (54,821) (2,729) (1,035) (58,585) Ending balances as of December 31, 2020 4,166,515 1,025,921 124,317 5,316,753 The following table presents the movements of the Mortgage loans portfolio for the year ended December 31, 2019: Group assessed Stage 1 Stage 2 Stage 3 12-Month Lifetime Lifetime ECL ECL ECL Totals Opening balances as of January 1, 2019 3,626,811 659,119 159,897 4,445,827 Changes in the allowances - Transfer to stage 1 112,611 (112,195) (416) — - Transfer to stage 2 (174,723) 210,287 (35,564) — - Transfer to stage 3 (12,815) (64,770) 77,585 — - Charge-offs (36) (115) (12,230) (12,381) - Changes due to modifications that did not result in derecognition — — — — New financial assets originated or purchased 763,342 17,230 2,298 782,870 Financial assets that have been derecognized (330,014) (62,240) (20,063) (412,317) Foreign exchange and other movements 58,589 8,694 4,759 72,042 Ending balances as of December 31, 2019 4,043,765 656,010 176,266 4,876,041 Note 10 - Loans and Accounts Receivable from Customers, continued The following table presents the movements of the Consumer loans portfolio for the year ended December 31, 2020: Group assessed Stage 1 Stage 2 Stage 3 12-Month Lifetime Lifetime ECL ECL ECL Totals Opening balances as of January 1, 2020 2,201,939 482,372 113,918 2,798,229 Changes in the allowances - Transfer to stage 1 165,739 (154,065) (11,674) — - Transfer to stage 2 (349,120) 358,123 (9,003) — - Transfer to stage 3 (25,131) (21,321) 46,452 — - Charge-offs (15,262) (35,795) (83,555) (134,612) - Changes due to modifications that did not result in derecognition (51,408) (7,108) 386 (58,130) New financial assets originated or purchased 826,956 327,383 48,844 1,203,183 Financial assets that have been derecognized (948,463) (258,436) (30,123) (1,237,022) Foreign exchange and other movements (72,725) (4,454) (2,040) (79,219) Ending balances as of December 31, 2020 1,732,525 686,699 73,205 2,492,429 The following table presents the movements of the Consumer loans portfolio for the year ended December 31, 2019: Group assessed Stage 1 Stage 2 Stage 3 12-Month Lifetime Lifetime ECL ECL ECL Totals Opening balances as of January 1, 2019 2,135,693 444,058 90,012 2,669,763 Changes in the allowances - Transfer to stage 1 121,007 (114,560) (6,447) — - Transfer to stage 2 (144,382) 152,087 (7,705) — - Transfer to stage 3 (15,399) (14,314) 29,713 — - Charge-offs (13,289) (21,433) (27,483) (62,205) - Changes due to modifications that did not result in derecognition — — — — New financial assets originated or purchased 822,217 224,815 67,019 1,114,051 Financial assets that have been derecognized (645,261) (202,029) (31,943) (879,233) Foreign exchange and other movements (58,647) 13,748 752 (44,147) Ending balances as of December 31, 2019 2,201,939 482,372 113,918 2,798,229 Note 10 - Loans and Accounts Receivable from Customers, continued b) Portfolio characteristics The following table details the Bank's loan portfolio (before allowances) as of December 31, 2020 and 2019, by the customer's industry sector: As of December 31, 2020 Local loans Foreign loans Totals Distribution percentage MCh$ MCh$ MCh$ % Commercial loans Manufacturing 973,913 87,253 1,061,166 Mining 336,354 198,635 534,989 Electricity, gas and water 694,970 404,875 1,099,845 Agriculture and livestock 328,563 166,191 494,754 Forestry and wood extraction 51,348 4,674 56,022 Fishing 31,461 4,273 35,734 Transport 498,450 88,563 587,013 Communications 52,911 3,254 56,165 Construction 1,536,686 300,997 1,837,683 Commerce 1,618,660 592,492 2,211,152 Services 2,761,121 839,930 3,601,051 Others 2,207,936 1,025,289 3,233,225 Subtotals 11,092,373 3,716,426 14,808,799 Mortgage loans 4,684,980 631,773 5,316,753 Consumer loans 1,706,234 786,195 2,492,429 Totals 17,483,587 5,134,394 22,617,981 Note 10 - Loans and Accounts Receivable from Customers, continued As of December 31, 2019 Local loans Foreign loans Totals Distribution percentage MCh$ MCh$ MCh$ % Commercial loans Manufacturing 988,739 111,000 1,099,739 Mining 292,263 259,352 551,615 Electricity, gas and water 685,749 439,792 1,125,541 Agriculture and livestock 309,648 174,295 483,943 Forestry and wood extraction 48,192 5,136 53,328 Fishing 42,397 4,505 46,902 Transport 478,737 80,534 559,271 Communications 25,209 9,717 34,926 Construction 1,757,874 348,955 2,106,829 Commerce 1,439,969 689,210 2,129,179 Services 2,864,307 1,080,264 3,944,571 Others 2,275,275 1,049,425 3,324,700 Subtotals 11,208,359 4,252,185 15,460,544 Mortgage loans 4,211,094 664,947 4,876,041 Consumer loans 1,923,745 874,484 2,798,229 Totals 17,343,198 5,791,616 23,134,814 Note 10 - Loans and Accounts Receivable from Customers, continued c) Allowances for loans losses Movements in allowances for loan losses during the years ended December 31, 2020 and 2019, are as follows: Individually assessed Group assessed Stage 1 Stage 2 Stage 3 Stage 1 Stage 2 Stage 3 12-Month Lifetime Lifetime 12-Month Lifetime Lifetime ECL ECL ECL Subtotals ECL ECL ECL Subtotals Totals Opening balances as of January 1, 2020 — (42,000) (151,135) (193,135) (145,415) (260,297) (281,270) (686,982) (880,117) Changes in the allowances — - Net transfer to stage 1 — — — — (49,315) 39,672 9,643 — — - Net transfer to stage 2 82 (82) — — 19,402 (36,007) 16,605 — — - Net transfer to stage 3 63 9,055 (9,118) — 2,280 28,404 (30,684) — — - Increases due to change in credit risk — (8,381) (43,940) (52,321) (28,719) (64,496) (138,605) (231,820) (284,141) - Decreases due to change in credit risk — 4,761 2,088 6,849 59,996 37,255 8,515 105,766 112,615 - Charge-offs — — 198 198 1,390 14,707 158,261 174,358 174,556 - Changes due to modifications that did not result in derecognition — — — — — — 789 789 789 New financial assets originated or purchased (46) (12,567) (104,044) (116,657) (80,071) (118,827) (99,210) (298,108) (414,765) Financial assets that have been derecognized 500 4,873 61,022 66,395 50,438 68,536 59,044 178,018 244,413 Net transfer (from) to group and individually assessed — 3,009 (46,698) (43,689) — (3,009) 46,698 43,689 — Foreign exchange and other movements (645) (24,948) 36,509 10,916 4,553 13,652 (24,344) (6,139) 4,777 Ending balances as of December 31, 2020 (46) (66,280) (255,118) (321,444) (165,461) (280,410) (274,558) (720,429) (1,041,873) Note 10 - Loans and Accounts Receivable from Customers, continued Individually assessed Group assessed Stage 1 Stage 2 Stage 3 Stage 1 Stage 2 Stage 3 12-Month Lifetime Lifetime 12-Month Lifetime Lifetime ECL ECL ECL Subtotals ECL ECL ECL Subtotals Totals Opening balances as of January 1, 2019 — (46,153) (87,457) (133,610) (138,492) (232,447) (263,571) (634,510) (768,120) Changes in the allowances - Net transfer to stage 1 — — — — (29,418) 23,245 6,173 — — - Net transfer to stage 2 — — — — 14,077 (28,023) 13,946 — — - Net transfer to stage 3 — 22,642 (22,642) — 5,171 29,876 (35,047) — — - Increases due to change in credit risk — (1,216) (62,685) (63,901) (19,691) (80,613) (105,143) (205,447) (269,348) - Decreases due to change in credit risk — 7,758 1,096 8,854 51,409 39,540 11,452 102,401 111,255 - Charge-offs — — 13,891 13,891 983 7,631 144,859 153,473 167,364 - Changes due to modifications that did not result in derecognition — — — — — — — — — New financial assets originated or purchased — (12,496) (7,376) (19,872) (73,009) (91,324) (98,595) (262,928) (282,800) Financial assets that have been derecognized — 1,824 3,152 4,976 49,158 62,668 82,517 194,343 199,319 Net transfer (from) to group and individually assessed — (933) — (933) — 933 — 933 — Foreign exchange and other movements — (13,426) 10,886 (2,540) (5,603) 8,217 (37,861) (35,247) (37,787) Ending balances as of December 31, 2019 — (42,000) (151,135) (193,135) (145,415) (260,297) (281,270) (686,982) (880,117) The following analysis details the movement on allowances by type of portfolio (commercial, mortgage and consumer) is as follow: Individually assessed Group assessed Stage 1 Stage 2 Stage 3 Stage 1 Stage 2 Stage 3 12-Month Lifetime Lifetime 12-Month Lifetime Lifetime Commercial ECL ECL ECL Subtotals ECL ECL ECL Subtotals Totals Opening balances as of January 1, 2020 — (42,000) (151,135) (193,135) (73,036) (109,671) (169,357) (352,064) (545,199) Changes in the allowances - - Net transfer to stage 1 — — — — (10,902) 9,080 1,822 — — - Net transfer to stage 2 82 (82) — — 6,731 (10,831) 4,100 — — - Net transfer to stage 3 63 9,055 (9,118) — 797 15,934 (16,731) — — - Increases due to change in credit risk — (8,381) (43,940) (52,321) (18,554) (33,761) (102,904) (155,219) (207,540) - Decreases due to change in credit risk — 4,761 2,088 6,849 18,779 12,941 4,913 36,633 43,482 - Charge-offs — — 198 198 72 305 86,507 86,884 87,082 - Changes due to modifications that did not result in derecognition — — — — — — (869) (869) (869) New financial assets originated or purchased (46) (12,567) (104,044) (116,657) (43,530) (57,865) (73,813) (175,208) (291,865) Financial assets that have been derecognized 500 4,873 61,022 66,395 30,039 27,096 38,989 96,124 162,519 Net transfer (from) to group and individually assessed — 3,009 (46,698) (43,689) — (3,009) 46,698 43,689 — Foreign exchange and other movements (645) (24,948) 36,509 10,916 1,524 23,238 (30,905) (6,143) 4,773 Ending balances as of December 31, 2020 (46) (66,280) (255,118) (321,444) (88,080) (126,543) (211,550) (426,173) (747,617) Note 10 - Loans and Accounts Receivable from Customers, continued Individually assessed Group assessed Stage 1 Stage 2 Stage 3 Stage 1 Stage 2 Stage 3 12-Month Lifetime Lifetime 12-Month Lifetime Lifetime Commercial ECL ECL ECL Subtotals ECL ECL ECL Subtotals Totals Opening balances as of January 1, 2019 — (46,153) (87,457) (133,610) (61,971) (109,805) (179,321) (351,097) (484,707) Changes in the allowances — - Net transfer to stage 1 — — — — (9,243) 7,555 1,688 — — - Net transfer to stage 2 — — — — 6,626 (10,260) 3,634 — — - Net transfer to stage 3 — 22,642 (22,642) — 1,927 11,340 (13,267) — — - Increases due to change in credit risk — (1,216) (62,685) (63,901) (13,071) (32,280) (46,212) (91,563) (155,464) - Decreases due to change in credit risk — 7,758 1,096 8,854 18,572 19,449 8,373 46,394 55,248 - Charge-offs — — 13,891 13,891 28 179 68,119 68,326 82,217 - Changes due to modifications that did not result in derecognition — — — — — — — — — New financial assets originated or purchased — (12,496) (7,376) (19,872) (36,672) (35,008) (45,007) (116,687) (136,559) Financial assets that have been derecognized — 1,824 3,152 4,976 23,152 28,514 58,013 109,679 114,655 Net transfer (from) to group and individually assessed — (933) — (933) — 933 — 933 — Foreign exchange and other movements — (13,426) 10,886 (2,540) (2,384) 9,712 (25,377) (18,049) (20,589) Ending balances as of December 31, 2019 — (42,000) (151,135) (193,135) (73,036) (109,671) (169,357) (352,064) (545,199) Group assessed Stage 1 Stage 2 Stage 3 Mortgage 12-Month ECL Lifetime ECL Lifetime ECL Subtotals Totals Opening balances as of January 1, 2020 (5,680) (49,072) (23,749) (78,501) (78,501) Changes in the allowances - - - Transfer to stage 1 (8,391) 7,706 685 — — - Transfer to stage 2 1,243 (8,157) 6,914 — — - Transfer to stage 3 29 3,576 (3,605) — — - Increases due to change in credit risk (3,313) (8,190) (3,238) (14,741) (14,741) - Decreases due to change in credit risk 6,499 4,572 2,870 13,941 13,941 - Charge-offs — 9 2,700 2,709 2,709 - Changes due to modifications that did not result in derecognition — — 1,344 1,344 1,344 New financial assets originated or purchased (2,010) (1,626) 5,948 2,312 2,312 Financial assets that have been derecognized 557 2,561 2,198 5,316 5,316 Changes in models/risk parameters — — — — — Foreign exchange and other movements 334 107 (6,286) (5,845) (5,845) Ending balances as of December 31, 2020 (10,732) (48,514) (14,219) (73,465) (73,465) Note 10 - Loans and Accounts Receivable from Customers, continued Group assessed Stage 1 Stage 2 Stage 3 Mortgage 12-Month ECL Lifetime ECL Lifetime ECL Subtotals Totals Opening balances as of January 1, 2019 (5,756) (37,800) (22,561) (66,117) (66,117) Changes in the allowances - - - Transfer to stage 1 (3,316) 2,901 415 — — - Transfer to stage 2 484 (5,430) 4,946 — — - Transfer to stage 3 244 7,413 (7,657) — — - Increases due to change in credit risk (530) (25,837) (5,502) (31,869) (31,869) - Decreases due to change in credit risk 4,200 8,916 2,564 15,680 15,680 - Charge-offs — 16 2,624 2,640 2,640 - Changes due to modifications that did not result in derecognition — — — — — New financial assets originated or purchased (1,347) (1,622) (512) (3,481) (3,481) Financial assets that have been derecognized 605 2,553 2,343 5,501 5,501 Changes in models/risk parameters — — — — — Foreign exchange and other movements (182) (409) (855) (855) Ending balances as of December 31, 2019 (5,680) (49,072) (23,749) (78,501) (78,501) Group assessed Stage 1 Stage 2 Stage 3 Consumer 12-Month ECL Lifetime ECL Lifetime ECL Subtotals Totals Opening balances as of January 1, 2020 (66,692) (113,507) (76,218) (256,417) (256,417) Changes in the allowances — — - Transfer to stage 1 (30,022) 22,886 7,136 — — - Transfer to stage 2 11,428 (17,019) 5,591 — — - Transfer to stage 3 1,454 8,894 (10,348) — — - Increases due to change in credit risk (6,852) (22,545) (32,463) (61,860) (61,860) - Decreases due to change in credit risk 34,718 19,742 732 55,192 55,192 - Charge-offs 1,318 14,393 69,054 84,765 84,765 - Changes due to modifications that did not result in derecognition — — 314 314 314 New financial assets originated or purchased (34,531) (59,336) (31,345) (125,212) (125,212) Financial assets that have been derecognized 19,842 38,879 17,857 76,578 76,578 Changes in models/risk parameters — — — — — Foreign exchange and other movements 2,688 2,260 901 5,849 5,849 Ending balances as of December 31, 2020 (66,649) (105,353) (48,789) (220,791) (220,791) Note 10 - Loans and Accounts Receivable from Customers, continued Group assessed Stage 1 Stage 2 Stage 3 Consumer 12-Month ECL Lifetime ECL Lifetime ECL Subtotals Totals Opening balances as of January 1, 2019 (70,765) (84,842) (61,689) (217,296) (217,296) Changes in the allowances - - - Transfer to stage 1 (16,859) 12,789 4,070 — — - Transfer to stage 2 6,968 (12,334) 5,366 — — - Transfer to stage 3 3,000 11,123 (14,123) — — - Increases due to change in credit risk (6,090) (34,493) (53,429) (94,012) (94,012) - Decreases due to change in credit risk 28,637 11,175 515 40,327 40,327 - Charge-offs 955 7,436 74,116 82,507 82,507 - Changes due to modifications that did not result in derecognition — — — — — New financial assets originated or purchased (34,990) (54,694) (53,076) (142,760) (142,760) Financial assets that have been derecognized 25,401 31,601 22,161 79,163 79,163 Changes in models/risk parameters — — — — — Foreign exchange and other movements (2,949) (1,268) (129) (4,346) (4,346) Ending balances as of December 31, 2019 d) Portfolio sales As of December 31, 2019, the Bank sold part of its current and written-off loan portfolios, recognizing a profit of Ch$6,004 million. During the year ended December 31, 2020, no sales of this type were performed. See detail in section d.1). Additionally, as of December 31, 2020, the Bank sold part of its Government guaranteed students loan portfolio (Law No. 20,027) which generated a profit, net of provisions for loan losses, of Ch$6,476 million (Ch$8,584 million in 2019). The provisions for loan losses of the sold portfolio amount to Ch$2,123 million. See details in section d.2). These results are included in the caption “Net income from financial operations” in the Consolidated Income Statement for that year (see Note 27). d.1) Current and charged-off portfolios sales As of December 31, 2019, the Bank and its subsidiaries derecognized 100% of its sold portfolio, thus complying with the requirements of the accounting policy for derecognizing financial assets and liabilities as set forth in Note 1, letter k), section iv) of these Consolidated Financial Statements. For the year ended December 31, 2020 For the year ended December 31, 2019 Adjustment Net effect on Adjustment Net effect on Portfolio Loan Value Allowances Sale price to EIR income Loan Value Allowances Sale price to EIR income MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Current — — — — — 14,231 (14,113) 4,130 (207) 3,805 Charged-off — — — — — — — 2,199 — 2,199 Totals — — — — — 14,231 (14,113) 6,329 (207) 6,004 Note 10 - Loans and Accounts Receivable from Customers, continued d.2) CAE portfolio sale For the year ended on December 31, 2020, gains recognized from sales of the portfolio amount to MCh$6,476 (MCh$8,584 for the year ended December 31, 2019). These amounts are presented in the Consolidated Statement of Income (Loss) under the line item “Net income from financial operations”. The portion to be deferred amounts to MCh$6,717 as of December 31, 2020 (MCh$9,079 as of December 31, 2019) and is recognized as interest income throughout the term of each loan by applying the effective interest rate method, according to IFRS 9. For the year ended December 31, 2020 For the year ended December 31, 2019 Adjustment Net effect on Adjustment Net effect on Portfolio Loan Value Allowances Sale price to EIR income Loan Value Allowances Sale price to EIR income MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ CAE 81,697 2,123 92,767 6,717 6,476 103,201 (849) 120,015 9,079 8,584 e) Lease As of December 31, 2020 and 2019, the Bank’s scheduled cash flows to be received from finance lease contracts have the following maturities: Total receivable Unearned income Net lease receivable As of December 31, As of December 31, As of December 31, 2020 2019 2020 2019 2020 2019 MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Up to one month 30,141 13,793 144 7 29,997 13,786 More than 1 month to 3 months 3,400 4,033 86 54 3,314 3,979 More than 3 months up to 1 year 38,446 39,184 1,525 1,839 36,921 37,345 More than 1 year up to 3 years 189,921 263,280 11,253 23,286 178,668 239,994 More than 3 years up to 6 years 338,156 413,066 42,164 71,543 295,992 341,523 More than 6 years 1,121,390 1,172,198 416,252 463,916 705,138 708,282 Totals 1,721,454 1,905,554 471,424 560,645 1,250,030 1,344,909 As of December 31, Leasing transactions 2020 2019 MCh$ MCh$ Commercial 940,989 1,005,209 Mortgage 307,574 336,587 Consumer 1,467 3,113 Totals 1,250,030 1,344,909 |
Investment instruments
Investment instruments | 12 Months Ended |
Dec. 31, 2020 | |
Text block [Abstract] | |
Investment instruments | Note 11 – Investment instruments a) Investment instruments at fair value through other comprehensive income and at amortized cost As of December 31, 2020 and 2019, the detail of financial instruments measured at FVOCI and at amortized cost is as follows: As of December 31, 2020 As of December 31, 2019 At FVOCI At amortized cost Totals At FVOCI At amortized cost Totals MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Debt instruments 3,960,104 111,542 4,071,646 3,588,214 115,658 3,703,872 Equity instruments 10,795 — 10,795 10,676 — 10,676 Totals 3,970,899 111,542 4,082,441 3,598,890 115,658 3,714,548 b) Debt instruments at fair value through other comprehensive income and at amortized cost As of December 31, 2020 and 2019, the detail of financial instruments measured at FVOCI and at amortized cost is as follows: As of December 31, 2020 As of December 31, 2019 At FVOCI At amortized cost Totals At FVOCI At amortized cost Totals MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Securities quoted in active markets Chilean Central Bank and Government securities Chilean Central Bank instruments 1,170,841 — 1,170,841 477,900 — 477,900 Chilean Treasury bonds 1,783,765 — 1,783,765 1,609,397 — 1,609,397 Other goverment securities 101,573 — 101,573 86,981 — 86,981 Other local institutions financial instruments Time deposits in local banks 14,856 — 14,856 412,962 — 412,962 Mortgage finance bonds 30 — 30 41 — 41 Chilean financial institutions bonds 277,163 — 277,163 118,583 — 118,583 Other local financial investments — — — — — — Foreign institutions financial instruments Foreign Governments and Central Banks financial instruments 217,185 — 217,185 165,927 — 165,927 Other foreign financial instruments 394,691 111,542 506,233 716,423 115,658 832,081 Investments not quoted in active markets — — Corporate bonds — — — — — — Totals 3,960,104 111,542 4,071,646 3,588,214 115,658 3,703,872 As of December 31, 2020 this total includes MCh$1,205,711, included in Note 5 “Cash and cash equivalents,” which corresponds to those financial instruments with maturities that do not exceed three months from their dates of acquisition. As of December 31, 2020, the portfolio at FVTOCI includes an unrealized gain of MCh$42,407, presented in Equity as valuation accounts, distributed among a gain of MCh$34,814 attributable to equity holders and a gain of MCh$7,593 attributable to non-controlling interest. As of December 31, 2020, the portfolio of financial instruments at FVTOCI includes financial instruments for an amount of Ch$319,213 million pledged as collateral to the Central Bank of Chile (BCCh) in order to access the new Conditional Funding Facility (FCIC). This program was implemented by the BCCh as a measure to support liquidity and credit access as a response to the financial needs generated by the Covid-19 pandemic. Further disclosures on FCIC are included in Note 19 and Note 23. Note 11 – Investment instruments, continued c) Impairment of debt instruments at fair value through other comprehensive income and at amortized cost As of December 31, 2020 and 2019 the portfolios of debt securities classified as investment instruments at fair value through other comprehensive income includes impairment movements as summarized below: Financial instruments at FVOCI Stage 1 Stage 2 Stage 3 12-Month ECL Lifetime ECL Lifetime ECL Totals Opening balances as of January 1, 2020 (2,310) — — (2,310) Changes in the allowances - Transfer to stage 1 — — — — - Transfer to stage 2 — — — — - Transfer to stage 3 — — — — - Increases due to change in credit risk (210) — — (210) - Decreases due to change in credit risk 1,127 — — 1,127 - Charge-Offs — — — — - Changes due to modifications that did not result in derecognition — — — — New financial assets originated or purchased (40) — — (40) Financial assets that have been derecognized 522 — — 522 Changes in models/risk parameters — — — — Foreign exchange and other movements — — — — Ending balances as of December 31, 2020 (911) — — (911) Financial instruments at FVOCI Stage 1 Stage 2 Stage 3 12-Month ECL Lifetime ECL Lifetime ECL Totals Opening balances as of January 1, 2019 (134) — — (134) Changes in the allowances - Transfer to stage 1 — — — — - Transfer to stage 2 — — — — - Transfer to stage 3 — — — — - Increases due to change in credit risk — — — — - Decreases due to change in credit risk — — — — - Charge-Offs — — — — - Changes due to modifications that did not result in derecognition — — — — New financial assets originated or purchased (2,195) — — (2,195) Financial assets that have been derecognized 19 — — 19 Changes in models/risk parameters — — — — Foreign exchange and other movements — — — — Ending balances as of December 31, 2019 (2,310) — — (2,310) Note 11 – Investment instruments, continued As of December 31, 2020 and 2019 the portfolios of investment instruments at amortized cost includes impairment movements as summarized below: Financial instruments at Amortized cost Stage 1 Stage 2 Stage 3 12-Month ECL Lifetime ECL Lifetime ECL Totals Opening balances as of January 1, 2020 (24) — — (24) Changes in the allowances - Transfer to stage 1 — — — — - Transfer to stage 2 — — — — - Transfer to stage 3 — — — — - Increases due to change in credit risk — — — — - Decreases due to change in credit risk — — — — - Charge-offs — — — — - Changes due to modifications that did not result in derecognition — — — — New financial assets originated or purchased (86) — — (86) Financial assets that have been derecognized 9 — — 9 Changes in models/risk parameters — — — — Foreign exchange and other movements — — — — Ending balances as of December 31, 2020 (101) — — (101) Financial instruments at Amortized cost Stage 1 Stage 2 Stage 3 12-Month ECL Lifetime ECL Lifetime ECL Totals Opening balances as of January 1, 2019 (13) — — (13) Changes in the allowances - Transfer to stage 1 — — — — - Transfer to stage 2 — — — — - Transfer to stage 3 — — — — - Increases due to change in credit risk — — — — - Decreases due to change in credit risk — — — — - Charge-offs — — — — - Changes due to modifications that did not result in derecognition — — — — New financial assets originated or purchased (24) — — (24) Financial assets that have been derecognized 13 — — 13 Changes in models/risk parameters — — — — Foreign exchange and other movements — — — — Ending balances as of December 31, 2019 (24) — — (24) Note 11 – Investment instruments, continued d) Unrealized gains and losses of the portfolio at FVTOCI Unrealized gains and losses of the FVTOCI portfolio as of December 31, 2020 and 2019 are detailed as follows: As of December 31, 2020 As of December 31, 2019 Acquisition Unrealized Fair Acquisition Unrealized Fair cost Gain Losses value cost Gain Losses value Securities quoted in active markets Chilean Central Bank and Government securities Chilean Central Bank instruments 1,171,350 29 (538) 1,170,841 477,127 2,023 (1,250) 477,900 Chilean Treasury bonds 1,781,626 8,989 (6,850) 1,783,765 1,593,550 19,865 (4,018) 1,609,397 Other government securities 96,924 4,409 240 101,573 86,454 626 (99) 86,981 Other local institutions financial instruments Time deposits in local banks 14,622 252 (18) 14,856 412,936 85 (59) 412,962 Mortgage finance bonds 29 1 — 30 40 1 — 41 Chilean financial institutions bonds 273,028 4,135 — 277,163 117,641 1,008 (66) 118,583 Foreign institutions financial instruments Foreign Governments and Central Banks financial instruments 193,389 23,848 (52) 217,185 160,481 5,520 (74) 165,927 Other foreign financial instruments 391,058 3,724 (91) 394,691 697,663 18,965 (205) 716,423 Investments not quoted in active markets Corporate bonds — — — — — — — — Equity instruments Unlisted securities 6,466 4,329 — 10,795 6,965 3,711 — 10,676 Totals 3,928,492 49,716 (7,309) 3,970,899 3,552,857 51,804 (5,771) 3,598,890 e) Equity instruments at fair value through other comprehensive income As of December 31, 2020 and 2019 the portfolio of equity investment instruments at fair value through comprehensive income are detail as follows: 2020 2019 Unlisted securities MCh$ MCh$ Domestic entities Stock Exchanges 4,616 4,990 Foreign entities A.C.H Colombia 1,173 989 Redeban Multicolor S.A. 717 634 Cámara de Compensación Divisas de Colombia S.A. 309 270 Cámara de Riesgo Central de Contraparte S.A. (*) — 160 Bolsa de Valores de Colombia 969 781 Credibanco 2,990 2,831 Others 21 21 Totals 10,795 10,676 (*) In August 2020, the Cámara de Riesgo Central de Contraparte S.A. participation was sold, corresponding to 2.43% of the total equity, generating a profit of Ch$449 million recorded in income from investments in companies. Note 11 – Investment instruments, continued Amounts recognized in profit and loss and other comprehensive income For the years ended December 31, 2020 and 2019, the following gains and losses were recognized in profit or loss and other comprehensive income: 2020 2019 MCh$ MCh$ Dividends from equity investments held at FVOCI recognized in profit or loss 979 904 Related to investments derecognized during the period 56,838 35,489 Related to investments held at the end of the reporting period — — Totals 57,817 36,393 |
Investment in Associates
Investment in Associates | 12 Months Ended |
Dec. 31, 2020 | |
Investments in Associates. | |
Investments in Associates | Note 12 – Investments in Associates In 2019, the Bank gained significant influence over Nexus S.A. and Transbank S.A. Management concluded that, by the election of one of the Board members for each one on these entities, in addition to other factors, such as material transactions between the Bank and these entities, exchange of essential technical information with its investees and other factors, the Bank has the power to participate in the financial and operating policy decisions of these investees, but does not control them. Consequently, the equity method has been applied. a) As of December 31, 2020 and 2019, investments in associates are as follows: Investment Investment Entity's share Investment amount Income Entity's share Investment amount Income as of December 31, as of December 31, as of December 31, as of December 31, as of December 31, as of December 31, Entity 2020 2020 2020 2019 2019 2019 % MM$ MM$ % MM$ MM$ Nexus S.A (**) 14.8148 % 1,278 (1,341) 12.9000 % 2,281 (133) Transbank S.A (*) 8.7188 % 5,871 (1,453) 8.7188 % 7,324 665 Totals 23.63 7,149 (2,794) 9,605 532 (*) In 2019, these investments were previously classified as “Financial instruments at fair value through profit or loss” and classified as associates since significant influence was gained. Acquisition cost is deemed to be equivalent to the fair value of each investment as of the date in which it became an associate. (**) On January 22, 2020, Itaú Corpbanca acquired 79,577 shares of Nexus S.A., corresponding to a 1.9148% participation over the total equity. With this transaction, the Bank's total participation increased to 14.8148%. b) Summarized financial information of associates as of December 31, 2020 and 2019: As of December 31, As of December 31, 2020 2019 Assets Liabilities Equity Loss Assets Liabilities Equity Income MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Nexus S.A 19,210 10,585 17,676 (9,051) 31,147 13,472 4,097 13,578 Transbank S.A 1,006,137 938,800 84,007 (16,670) 1,217,448 1,134,781 69,265 13,402 Totals 1,025,347 949,385 101,683 (25,721) 1,248,595 1,148,253 73,362 26,980 c) During the year ended December 31, 2020 and 2019, the Bank received dividends from its associates, as detailed below: 2020 2019 MCh$ MCh$ Dividends received (*) — 268 Totals — 268 (*) Dividends for the year ended December 31, 2019 are considered as received before significant influence was obtained, thus are presented under “Net income from financial operations” in the Consolidated Statement of Income (Loss) in accordance with the previous classification and measurement as financial instruments at fair value through profit and loss according with IFRS 9. Note 12 – Investments in Associates, continued d) Investment in associates movements for the years ended December 31, 2020 and 2019 are as follows: 2020 2019 MCh$ MCh$ Balances as of January 1, 9,605 — Investment acquisition 338 — Sale of investments — — Initial application of the equity method (*) — 9,073 Participation in income (2,794) 532 Totals 7,149 9,605 (*) As indicated in a) above “significant influence” was gained in 2019, thus the equity method was initially applied that year. |
Intangible assets
Intangible assets | 12 Months Ended |
Dec. 31, 2020 | |
Text block [Abstract] | |
Intangible assets | Note 13 - Intangible assets a) Composition of intangibles assets as of December 31, 2020 and 2019 is as follows: Remaining Net assets as Net assets as Useful amortization of January 1, Gross Accumulated of December Concept life years years 2020 balance amortization 31, 2020 MCh$ MCh$ MCh$ MCh$ Computer equipment system or software 5 4 179,743 221,070 (94,407) 126,663 IT projects and licenses 2 2 5,192 13,484 (654) 12,830 Assets generated in business combination 1,388,302 681,556 (103,053) 578,503 Goodwill — — 1,151,019 492,512 — 492,512 Trademarks 10 5 31,898 51,037 (24,243) 26,794 Customer relationship 10 5 63,317 26,371 (12,526) 13,845 Core deposits 8 3 142,068 111,636 (66,284) 45,352 Other projects 10 4 1,196 4,055 (3,368) 687 Totals 1,574,433 920,165 (201,482) 718,683 Remaining Net assets as Net assets as Useful amortization of January 1, Gross Accumulated of December Concept life years years 2019 balance amortization 31, 2019 MCh$ MCh$ MCh$ MCh$ Computer equipment system or software 6 3 151,840 314,200 (134,457) 179,743 IT projects and licenses 6 2 12,614 33,352 (28,160) 5,192 Assets generated in business combination 1,406,016 1,544,767 (156,465) 1,388,302 Goodwill — — 1,135,392 1,151,019 — 1,151,019 Trademarks 10 8 37,002 51,459 (19,561) 31,898 Customer relationship 12 10 69,259 98,268 (34,951) 63,317 Core deposits 9 7 164,363 244,021 (101,953) 142,068 Other projects 10 1 494 4,055 (2,859) 1,196 Totals 1,570,964 1,896,374 (321,941) 1,574,433 Note 13 - Intangible assets, continued b) Movements on gross balances of intangible assets as of December 31, 2020 and 2019 are as follows: Computer Assets equipment generated in system or IT projects business software and licenses combination Goodwill Other projects Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Opening balances as of January 1, 2020 314,200 33,352 393,748 1,151,019 4,055 1,896,374 Additions 43,747 12,002 — — — 55,749 Disposals (47,746) (8,388) — — — (56,134) Impairment (1) (2) (3) (67,363) (32,334) (195,596) (651,825) — (947,118) Reclassifications (9,752) 9,752 — — — — Exchange differences (12,016) (900) (9,108) (6,682) — (28,706) Ending balances as of December 31, 2020 221,070 13,484 189,044 492,512 4,055 920,165 (1) Impairment loss on "Computer equipment software or system" and "IT projects and licenses" was recorded due to the systems integration; mainly due to the derecognition of the systems from Corpbanca. Impairment on Computer equipment system or software recorded in the Chile CGU had a net effect of Ch$31,426 million (Ch$59,525 million on the gross value of the asset and Ch$28,099 million on accumulated amortization). Impairment on System and software recorded in the Colombia CGU had a net effect of Ch$4,325 million (Ch$7,838 million on the gross value of the asset and Ch$3,513 million). Finally, impairment on IT projects and licenses recorded in the Chile CGU had a net effect of Ch$3,098 million (Ch$32,334 million gross value of the asset and Ch$29,236 million in accumulated amortization). (2) Impairment loss on intangible assets generated in business combinations recorded in the Colombia CGU had a net effect of Ch$113,911 million (Ch$195,596 million on the gross value of the asset and Ch$81,685 million on accumulated amortization). (, which is broken down between an effect on the gross balance of and an effect on the accumulated amortization of. Itaú Corpbanca Colombia recognized an impairment for the gross value of the asset of Ch$193,761 million and Ch$80,623 million in accumulated amortization, generating a loss effect of Ch$113,138 million, as a result. Itaú Corredor de Seguro Colombia recognized an impairment for the gross asset value of Ch$1,835 million and Ch$1,062 million in accumulated amortization, generating a loss effect of Ch$773 million. (3) Goodwill impairment was allocated between the Chile CGU in Ch$412,356 million and the Colombia CGU in Ch$239,469 million.See additional disclosures in Note 32. Computer Assets equipment generated in system or IT projects business software and licenses combination Goodwill Other projects Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Opening balances as of January 1, 2019 263,179 42,601 383,207 1,135,392 3,645 1,828,024 Additions 53,140 80 — — — 53,220 Exchange differences 5,308 20 12,876 15,627 — 33,831 Others (7,427) (9,349) (2,335) — 410 (18,701) Ending balances as of December 31, 2019 314,200 33,352 393,748 1,151,019 4,055 1,896,374 Note 13 - Intangible assets, continued c) Movements on accumulated amortization of intangible assets for the years ended December 31, 2020 and 2019 are as follows: Computer Assets equipment generated in system or IT projects business software and licenses combination Other projects Totals MCh$ MCh$ MCh$ MCh$ MCh$ Opening balances as of January 1, 2020 (134,457) (28,160) (156,465) (2,859) (321,941) Amortization for the year (40,632) (1,748) (31,736) (509) (74,625) Disposals 44,490 — — — 44,490 Impairment (1) (2) 31,612 29,236 81,685 — 142,533 Exchange differences 4,580 18 3,463 — 8,061 Ending balances as of December 31, 2020 (94,407) (654) (103,053) (3,368) (201,482) (1) Impairment loss on "Computer equipment software or system" and "IT projects and licenses" was recorded due to the systems integration; caused by the usage discontinuation of the Corpbanca systems. Impairment on Computer equipment system or software recorded in the Chile CGU had a net effect of loss Ch$31,426 million (Ch$59,525 million on the gross value of the asset and Ch$28,099 million on accumulated amortization). Impairment on System and software recorded in the Colombia CGU had a net effect of Ch$4,325 million (Ch$7,838 million on the gross value of the asset and Ch$3,513 in accumulated amortization). Finally, impairment on IT projects and licenses recorded in the Chile CGU had a net effect of Ch$3,098 million ( Ch$32,334 million on the gross asset value of and Ch$29,236 million in accumulated amortization). (2) Impairment loss on intangible assets generated in business combinations recorded in the Colombia CGU had a net effect of Ch$113,911 million ( Ch$195,596 million on the gross value of the asset and Ch$81,685 million on the accumulated amortization). Computer Assets equipment generated in system or IT projects business software and licenses combination Other projects Totals MCh$ MCh$ MCh$ MCh$ MCh$ Opening balances as of January 1, 2019 (111,339) (29,987) (112,583) (3,151) (257,060) Amortization for the year (30,363) (2,809) (40,816) (152) (74,140) Disposals 3 — — — 3 Exchange differences (2,995) (14) (4,648) — (7,657) Others 10,237 4,650 1,582 444 16,913 Ending balances as of December 31, 2019 (134,457) (28,160) (156,465) (2,859) (321,941) d) Impairment Itaú Corpbanca evaluates, at the end of each reporting period, whether there is any indication of impairment of any asset (including Goodwill). If this indication exists, or when an impairment test is required, the Bank estimates the recoverable amount of the asset. Note 13 - Intangible assets, continued As indicated in Note 3 “Significant events”, an impairment test was performed as of June 30, 2020 and, as a result, impairment losses were recorded for intangible assets generated in the business combination and Goodwill for Ch$113,911 million and Ch$651,825 million, respectively. See additional information in Note 32. Since the merger of CorpBanca and Itaú Chile, the Bank has utilized systems of both institutions in order to manage its operations entities and has established an integration plan to eliminate duplication and improve efficiency. During the 2020 financial year, the migration project in relation to this integration process was substantially completed, and an impairment of Ch$38,849 million has been recognized, corresponding to systems and licenses that will not continue to be used. e) Restrictions Itaú Corpbanca and its subsidiaries have no restrictions on intangible assets as of December 31, 2020 and December 31, 2019. In addition, no intangible assets have been pledged as collateral to secure the fulfillment of any obligations. |
Property, plant and equipment
Property, plant and equipment | 12 Months Ended |
Dec. 31, 2020 | |
Text block [Abstract] | |
Property, plant and equipment | Note 14 - Property, plant and equipment a) Property, plant and equipment as of December 31, 2020 and 2019 are broken down as follows. Remaining Net assets as Net assets Useful life depreciation of January Gross Accumulated as of December years years 1, 2020 Balance depreciation 31, 2020 MCh$ MCh$ MCh$ MCh$ Land and buildings 19 14 50,222 76,818 (36,658) 40,160 Equipment 3 1 27,551 85,404 (57,754) 27,650 Others 3 2 17,307 35,664 (22,859) 12,805 Furniture 8,879 21,203 (14,217) 6,986 Others 8,428 14,461 (8,642) 5,819 Totals 95,080 197,886 (117,271) 80,615 Remaining Net assets as Net assets Useful life depreciation of January Gross Accumulated as of December years years 1, 2019 Balance depreciation 31, 2019 MCh$ MCh$ MCh$ MCh$ Land and buildings 19 14 43,065 89,290 (39,068) 50,222 Equipment 3 1 32,607 81,423 (53,872) 27,551 Others 3 2 19,892 47,748 (30,441) 17,307 Furniture 9,373 27,088 (18,209) 8,879 Others 10,519 20,660 (12,232) 8,428 Totals 95,564 218,461 (123,381) 95,080 The useful life presented in the preceding tables, corresponds to the total useful life and residual useful life for the property, plant and equipment. Total useful lives have been determined based on our expected use of the assets, considering quality of the original construction, the environment in which the assets are located, quality and degree of maintenance carried out, and appraisals performed by external experts of the Bank. b) Movements on gross balances as of December 31, 2020 and 2019, are as follows: Land and buildings Equipment Other Totals MCh$ MCh$ MCh$ MCh$ Opening balances as of January 1, 2020 89,290 81,423 47,748 218,461 Additions 5,203 9,964 1,803 16,970 Sales and/or disposals for the year (381) (1,855) (1,974) (4,210) Impairment (1)(2) (20,981) (578) (9,862) (31,421) Reclassification from assets held for sale (3) 5,622 — — 5,622 Exchange differences (1,935) (3,550) (1,173) (6,658) Others — — (878) (878) Ending balances as of December 31, 2020 76,818 85,404 35,664 197,886 (1) Corresponds to ATM equipment impairment loss of Ch$24 million(Ch$53 million million on the gross value of the asset and Ch$29 million on accumulated depreciation) (2) Impairment on property, plant and equipment was recorded as a result of the restructuring plan implemented and controlled by Management in Chile. This plan aims to capture efficiencies from the closure of branches and by the offering our clients digital solutions for their financial needs. As a result, impairment losses for an amount of Ch$867 million have been recorded on land and buildings, equipment and other assets ( Ch$11,005 million on the gross value of the asset and Ch$10,138 million on accumulated depreciation). Also includes impairment recorded on improvements in leased properties for an amount of Ch$9,403million (Ch$20,363 million on the gross value of the asset of and Ch$10,960 million in accumulated depreciation) (3) Assets classified as available for sale that came out of the sales plan in Colombia and are reclassified back to fixed assets. See note 17 . (4) Note 14 - Property, plant and equipment, continued Land and buildings Equipment Other Totals MCh$ MCh$ MCh$ MCh$ Opening balances as of January 1, 2019 65,843 80,383 50,248 196,474 Additions 9,449 8,503 2,488 20,440 Sales and/or disposals for the year (3,592) (4,493) (4,014) (12,099) Reclassification from assets held for sale (*) 9,863 — — 9,863 Exchange differences 507 2,514 969 3,990 Others 7,220 (5,484) (1,943) (207) Ending balances as of December 31, 2019 89,290 81,423 47,748 218,461 (1) Corresponds to buildings owned by Itaú Corpbanca Colombia S.A. held for sale, as approved by the Board of Directors of said company. See detail in Note 17 - Other assets and non-current assets held for sale. c) Movements of accumulated depreciation of property, plant and equipment for years ended December 31, 2020 and 2019, are as follows: Land and buildings Equipment Other Total MCh$ MCh$ MCh$ MCh$ Opening balances as of January 1, 2020 (39,068) (53,872) (30,441) (123,381) Depreciation for the year (8,279) (8,967) (4,580) (21,826) Sales and/or disposals for the year 287 1,855 1,893 4,035 Reclasification from asset held for sale (1) (1,634) — — (1,634) Impairment (2)(3) 11,211 526 9,390 21,127 Exchange differences 825 2,704 879 4,408 Ending balances as of December 31, 2020 (36,658) (57,754) (22,859) (117,271) (1) Corresponds to properties reincorporated to land and buildings that were previously classified as held for the sale of Itaú Corpbanca Colombia S.A. See Note 17 - Other assets and non-current assets held for sale. (2) Corresponds to Impaired ATM equipment with a gross value of MCh$53 and MCh$29 on accumulated depreciation, generating a net loss of MCh$24. (3) Impairment on fixed assets due to the restructuring plan in Chile had an effect on the gross value of the asset of MCh$11,005 and MCh$10,138 on accumulated depreciation, generating a loss of MCh$867. Also includes impairment recognized on improvements in leased properties due to the restructuring plan, with an effect on the gross value of the asset of MCh$20,363 and MCh$10,960 in accumulated depreciation, generating a loss of MCh$9,403. Land and buildings Equipment Other Total MCh$ MCh$ MCh$ MCh$ Opening balances as of January 1, 2019 (22,778) (47,776) (30,356) (100,910) Depreciation for the year (7,814) (9,026) (4,329) (21,169) Sales and/or disposals for the year 2,884 3,622 2,079 8,585 Reclasification from asset held for sale (1) (6,829) — — (6,829) Impairment (241) (11) (476) (728) Exchange differences (79) (2,110) (705) (2,894) Others (4,211) 1,429 3,346 564 Ending balances as of December 31, 2019 (39,068) (53,872) (30,441) (123,381) (1) Corresponds to properties reincorporated to land and buildings that were previously classified as held for the sale of Itaú Corpbanca Colombia S.A. See Note 17 - Other assets and non-current assets held for sale. Note 14 - Property, plant and equipment, continued e) Impairment Since the COVID-19 health emergency, the Bank accelerated its digital transformation as a means to take care of both its customers and workforce. For this purpose, processes have been digitized, so that its clients may access its products and make use of the various services provided by the Bank from its digital platform. The Bank adopted remote working as a means to minimize the exposure of its workforce to COVID-19. One of the main effects of the pandemic has been the preference of the Bank’s clients to use digital channels over performing in-person transactions in its branches, which has led to a decrease in the flow of clients in certain branches. As a result, the Bank has initiated a restructuring plan in order to improve efficiency, closing branches that have lower customer demand. The plan also contemplates the closure of certain offices, given the Bank's adoption of remote working. Within the framework of the aforementioned restructuring plan, during this fiscal year, the Bank has recognized the impairment of certain assets associated with branches and offices that were closed during fiscal year 2020. f) Restrictions The Bank and subsidiaries have no restrictions on property, plant and equipment as of December 31, 2020 and 2019. Additionally, property, plant and equipment has not been pledged to ensure compliance with obligations. Furthermore, there are no amounts owed by the Bank on property, plant and equipment as of the aforementioned dates. |
Assets for Rights-of-Use and Ob
Assets for Rights-of-Use and Obligations for Lease Contracts | 12 Months Ended |
Dec. 31, 2020 | |
Assets for Rights-of-Use and Obligations for Lease Contracts | |
Assets for Rights-of-Use and Obligations for Lease Contracts | Note 15 - Assets for Rights-of-Use and Obligations for Lease Contracts a) Asset for right-of-use (i) The Bank has mainly lease agreements for its branches and corporate building. The composition of this item as of December 31, 2020 and 2019, is as follows: Years Years of of average useful remaining Net Assets as of Accumulated Net Assets as of life useful life January 1, 2020 Gross Balances Depreciation December 31, 2020 N° N° MCh$ MCh$ MCh$ MCh$ Land and buildings 7 6 167,265 195,992 (50,086) 145,906 Others leased assets 3 3 176 173 (71) 102 Totals 167,441 196,165 (50,157) 146,008 Years Years of of average useful remaining Net Assets as of Accumulated Net Assets as of life useful life January 1, 2019 Gross Balances Depreciation December 31, 2019 N° N° MCh$ MCh$ MCh$ MCh$ Land and buildings 5 5 176,795 197,065 (29,800) 167,265 Others leased assets 3 3 — 190 (14) 176 Totals 176,795 197,255 (29,814) 167,441 (ii) Movement in the gross balance of assets for the right to use assets under lease at 31 December 2020 and 2019, is as follows Land and buildings Others leased assets Totals MCh$ MCh$ MCh$ Opening balance as of January 1, 2020 197,065 190 197,255 Additions 9,250 — 9,250 Disposals due to early termination (9,707) — (9,707) Remeasurements of the liability due to modifications (1) 747 — 747 Inflation indexation adjustments (2) 2,701 — 2,701 Exchange differences (4,064) (17) (4,081) Ending balances as of December 31, 2020 195,992 173 196,165 (1) Corresponds to remeasurements of the recognized liability due to contracts modifications. (2) Corresponds to subsequent adjustments due to liabilities remeasurements due to index changes, according to each lease agreement. Note 15 - Assets for Rights-of-Use and Obligations for Lease Contracts, continued Land and buildings Others leased assets Totals MCh$ MCh$ MCh$ Opening balance as of January 1, 2019 176,795 — 176,795 Additions 25,624 190 25,814 Disposals due to early termination (16,953) — (16,953) Inflation indexation adjustments (1) 9,488 — 9,488 Exchange differences 2,111 — 2,111 Ending balances as of December 31, 2019 197,065 190 197,255 (1) Corresponds to subsequent adjustments due to liabilities remeasurements due to index changes, according to each lease agreement. (iii) Land and buildings Other leased assets Totals MCh$ MCh$ MCh$ Opening balance as of January 1, 2020 (29,800) (14) (29,814) Depreciation (1) (29,936) (57) (29,993) Disposals due to early termination 8,738 — 8,738 Exchange differences 912 — 912 Reclassifications — — — Remeasurements of the liability due to modifications (1) — — Ending balances as of December 31, 2020 (50,086) (71) (50,157) (1) See Note 32, Depreciation, amortization and impairment. Land and buildings Other leased assets Totals MCh$ MCh$ MCh$ Opening balance as of January 1, 2019 — — — Depreciation (1) (31,843) (14) (31,857) Disposals due to early termination 2,590 — 2,590 Exchange differences (547) — (547) Reclassifications — — — Impairment — — — Ending balances as of December 31, 2019 (29,800) (14) (29,814) (1) See note 32 "Depreciation, amortization and impairment" Note 15 - Assets for Rights-of-Use and Obligations for Lease Contracts, continued b) Lease contracts liabilities i) As of December 31, 2020 As of December 31, 2019 MCh$ MCh$ Lease contract liabilities 151,885 172,924 Totals 151,885 172,924 The Bank and its subsidiaries have contracts, with certain renewal options, for which there is reasonable certainty that the option will be exercised. In such cases, the lease period used to measure the liabilities and assets corresponds to an estimate of future renewals. ii) 2020 2019 MCh$ MCh$ Opening balance as of January 1, 172,924 176,795 Additions due to new contracts 9,250 25,624 Disposals due to early termination (1,971) (10,808) Interest expenses 4,923 5,034 Remeasurements of the liability due to modifications (1) 1,399 — Inflation indexation adjustments 2,701 9,488 Exchange rate adjustments (4) — Exchange difference (3,650) 2,868 Capital and interest payments (33,687) (36,077) Ending balance as of December 31, 151,885 172,924 (1) iii) As of December 31, 2020 As of December 31, 2019 MCh$ MCh$ Within 1 year 30,829 32,628 After 1 year but within 2 years 27,779 28,462 After 2 years but within 3 years 24,083 25,084 After 3 years but within 4 years 20,991 22,098 After 4 years but within 5 years 16,627 19,042 After 5 years 31,576 45,610 Totals 151,885 172,924 |
Current Taxes and Deferred Taxe
Current Taxes and Deferred Taxes | 12 Months Ended |
Dec. 31, 2020 | |
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Current Taxes and Deferred Taxes | Note 16 - Current Taxes and Deferred Taxes a) At the end of each reporting period, the Bank and subsidiaries recognize a First Category Income Tax Provision, which is determined based on currently enacted tax legislation. The net provision for current taxes recognized as of December 31, 2020 was MCh$62,933 (MCh$85,503 as of December 31, 2019), according to the following detail: a.1) Current taxes assets and liabilities by geographical area: As of December 31, 2020 As of December 31, 2019 Chile USA (*) Colombia Totals Chile USA (*) Colombia Totals MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Current tax assets 43,533 1,443 19,723 64,699 30,773 — 54,743 85,516 Current tax liabilities (596) — (1,170) (1,766) (13) — — (13) Totals, net 42,937 1,443 18,553 62,933 30,760 — 54,743 85,503 a.2) Details of current tax items by geographical area: As of December 31, 2020 As of December 31, 2019 Chile USA (*) Colombia Total Chile USA (*) Colombia Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Income tax with effect in profit and loss 12,348 — (4,284) 8,064 (68,075) — (9,062) (77,137) Income tax effect on equity, net investments hedge (21,795) — — (21,795) 6,124 — — 6,124 Income tax effect on equity cash flows hedge (5) — — (5) 964 — — 964 Income tax, rate 27% (9,452) — (4,284) (13,736) (60,987) — (9,062) (70,049) Less: Monthly Provisional Payments 49,340 — 21,268 70,608 61,621 — 27,218 88,839 Tax credit for training costs 800 — — 800 850 — — 850 Tax credit donations 264 — — 264 802 — — 802 4% event capital credit 2,920 — — 2,920 — — — Other taxes to be recovered (paid) (**) (935) 1,443 1,569 2,077 28,474 — 36,587 65,061 Totals 42,937 1,443 18,553 62,933 30,760 — 54,743 85,503 (*) Corresponds to the branch located in New York. (**) The other taxes to be recovered correspond mainly to monthly provisional payments and credits for training expenses paid in previous years, provisional payments for absorbed utilities with right to return, among others. Note 16 - Current Taxes and Deferred Taxes, continued b) The tax expense for the years ended December 31, 2020, 2019 and 2018 is comprised of the following items: 2020 2019 2018 MCh$ MCh$ MCh$ Income tax expense Current tax expense 8,064 (77,137) (95,760) Deferred taxes Deferred tax expenses 109,848 33,727 28,110 Subtotals 117,912 (43,410) (67,650) Others (2,702) (4,443) 591 Net expense for income taxes 115,210 (47,853) (67,059) c) 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, 2020, 2019 and 2018. The nominal tax rates of the countries where consolidated subsidiaries are located are: 2020 2019 2018 Tax rates Tax rates Tax rates Chile Colombia USA For the years ended December 31, 2020 2019 2018 Tax rate Amount Tax rate Amount Tax rate Amount % MCh$ % MCh$ % MCh$ Amount calculated by using the statutory rates 27.00 254,169 27.00 (46,541) 27.00 (63,157) Exchange differences due to investments in Colombia 1.94 18,285 9.51 (16,399) 13.47 (31,499) Equity price level restatement for tax purposes 2.53 23,814 (13.94) 24,037 (9.49) 22,188 Exchange differences due to investments in USA 0.18 1,665 1.76 (3,030) 0.02 (54) Effect of rate change Colombia (0.40) (3,804) (2.29) 3,954 (0.01) 20 Effect of rates New York branch (**) — 10 0.05 (81) (0.18) 433 Effect of rates Colombia subsidiary (**) 1.37 12,884 3.42 (5,896) 0.50 (1,173) Penalty fee SBIF (currently CMF) — — — — 0.69 (1,616) Goodwill impairment effect (19.93) (187,633) — — — — Tax effect due to intangible assets impairment (0.70) (6,561) — — — — Permanent and other differences (*) 0.25 2,381 2.26 (3,897) (3.33) 7,799 Totals 12.24 115,210 27.77 (47,853) 28.67 (67,059) Note 16 - Current Taxes and Deferred Taxes, continued d) The table below sets for a summary of the deferred tax effect on other comprehensive income for the years ended December 31, 2020, 2019 and 2018, which consists of the following items: d.1) Tax effect of “OCI” that may be reclassified subsequently to profit or loss: 2020 2019 2018 MCh$ MCh$ MCh$ Debt instruments at fair value through other comprehensive income 1,558 (5,926) (2,172) Hedge of a net investment in foreign operations (21,795) 14,373 10,565 Cash flows hedge (3,034) (162) (1,669) Total charge to other comprehensive income (23,271) 8,285 6,724 d.2) “OCI” that may not be reclassified subsequently to profit or loss: 2020 2019 2018 MCh$ MCh$ MCh$ Income tax relating to defined benefit obligation (19) 1,542 (44) Total charge to other comprehensive income (19) 1,542 (44) e) e.1) Totals deferred taxes Detail of effects for deferred taxes presented in assets and liabilities is as follows: As of December 31, 2020 As of December 31, 2019 Assets Liabilities Net Assets Liabilities Net MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Allowances for loan losses 242,422 — 242,422 162,874 — 162,874 Accrued interest on past due portfolio 6,031 — 6,031 8,214 — 8,214 Unearned price differences 183 — 183 324 — 324 Personnel provisions 10,183 17 10,200 20,618 — 20,618 Miscellaneous provisions 1,693 — 1,693 41,576 — 41,576 Tax losses 51,546 — 51,546 55,598 — 55,598 Net tax value of amortizable assets 2,231 — 2,231 16,051 — 16,051 Depreciation of property, plant and equipment (30,697) (274) (30,971) (47,423) — (47,423) Lease division and others 10,803 — 10,803 18,925 — 18,925 Mark to market of financial instruments 37,727 — 37,727 (15,846) — (15,846) Itaú-Corpbanca business combination (30,263) — (30,263) (57,996) — (57,996) IFRS 16 leases effect 1,643 — 1,643 1,403 — 1,403 Others 9,054 20 9,074 4,339 (263) 4,076 Totals assets (liabilities) for deferred taxes 312,556 (237) 312,319 208,657 (263) 208,394 Note 16 - Current Taxes and Deferred Taxes, continued e.2) Deferred taxes by geographic area: As of December 31, 2020 As of December 31, 2019 Chile USA Colombia Total Chile USA Colombia Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Deferred tax assets 250,260 14,408 47,888 312,556 182,657 18,527 7,473 208,657 Deferred tax liabilities — — (237) (237) — — (263) (263) Net by geographic area 250,260 14,408 47,651 312,319 182,657 18,527 7,210 208,394 Effects of deferred taxes on assets and liabilities arising from temporary differences (by geographic area) are as follows: As of December 31, 2020 As of December 31, 2019 Chile USA Colombia Total Chile USA Colombia Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Allowances for loan losses 212,344 (91) 30,169 242,422 155,115 358 7,401 162,874 Accrued interest on past due portfolio 6,031 — — 6,031 8,214 — — 8,214 Unearned price differences 183 — — 183 324 — — 324 Personnel provisions 6,449 195 3,556 10,200 16,860 (91) 3,849 20,618 Miscellaneous provisions 25,532 (3,588) (20,251) 1,693 49,335 856 (8,615) 41,576 Tax losses 1,744 15,500 34,302 51,546 1,912 15,750 37,936 55,598 Net tax value of amortizable assets 2,231 — — 2,231 16,051 — — 16,051 Depreciation of property, plant and equipment (31,611) (68) 708 (30,971) (50,746) — 3,323 (47,423) Lease division and others 3,682 — 7,121 10,803 11,619 — 7,306 18,925 Mark to market of financial instruments 41,149 (448) (2,974) 37,727 (13,484) — (2,362) (15,846) Itaú-Corpbanca business combination (27,673) — (2,590) (30,263) (16,584) — (41,412) (57,996) IFRS 16 leases effect 1,080 48 515 1,643 905 — 498 1,403 Others 9,119 2,860 (2,905) 9,074 3,136 1,654 (714) 4,076 Totals assets (liabilities), net 250,260 14,408 47,651 312,319 182,657 18,527 7,210 208,394 |
Other Assets and Non-current As
Other Assets and Non-current Assets Held for Sale | 12 Months Ended |
Dec. 31, 2020 | |
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Other Assets and Non-current Assets Held for Sale | Note 17 - Other Assets and Non-current Assets Held for Sale a) The detail of other assets is as follows: As of December 31, 2020 2019 MCh$ MCh$ Assets for leasing (1) 10,807 18,724 Other assets 531,826 752,137 Deposits in guarantee 11,230 33,786 Accounts and notes receivable (2) 37,070 48,017 Rights on brokerage transactions 26,589 158,687 Repossessed assets from leasing transactions 3,809 1,787 Prepaid expenses (3) 26,629 21,179 Collateral for financial transactions (threshold) 413,439 407,529 Claims receivable from insurance companies 230 1,933 Asset management fees receivable 811 816 Insurance brokerage fees receivable 6,741 5,654 Other assets 5,278 72,749 Totals 542,633 770,861 (1) Property, plant and equipment acquired to be ceded under financial leases. (2) This includes rights and accounts receivable that fall outside the Bank’s line of business such as tax credits, cash guarantee deposits and other balances pending of collection . (3) Includes payments made in advance for different services that will be received (leases, insurance, and others). b) The detail of non-currents assets held for sale is as follows: As of December 31, 2020 2019 MCh$ MCh$ Assets received in lieu of payment 13,269 10,291 Property, plant and equipment held for sale (1) 1,809 6,911 Totals 15,078 17,202 (1) Corresponds to buildings owned by Itaú Corpbanca Colombia S.A. held for sale, as approved by the Board of Directors of the entity, during the meeting held on July 31, 2018. |
Deposits and Other Demand Liabi
Deposits and Other Demand Liabilities and Time Deposits | 12 Months Ended |
Dec. 31, 2020 | |
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Deposits and Other Demand Liabilities and Time Deposits | Note 18 - Deposits and Other Demand Liabilities and Time Deposits a) As of December 31, 2020 and 2019, deposits and other demand liabilities are as follow: As of December 31, 2020 2019 MCh$ MCh$ Checking accounts 4,038,467 2,882,535 Other deposits and demand accounts 1,852,355 1,698,439 Advance payments received from customers 40,032 45,902 Other demand liabilities 266,552 246,572 Totals 6,197,406 4,873,448 b) As of December 31, 2020 and 2019, time deposits and other time liabilities are as follows: As of December 31, 2020 2019 MCh$ MCh$ Time deposits 11,413,370 11,599,943 Time savings accounts 19,467 20,016 Other time liabilities 227 228 Totals 11,433,064 11,620,187 |
Interbank Borrowings
Interbank Borrowings | 12 Months Ended |
Dec. 31, 2020 | |
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Interbank Borrowings | Note 19 - Interbank Borrowings a) As of December 31, 2020 and 2019, interbank borrowings are as follows: As of December 31, 2020 2019 MCh$ MCh$ Loans obtained from local financial institutions Chilean Central Bank (*) 2,257,226 — Subtotals 2,257,226 — Loans obtained from foreign financial institutions Apple Bank for Saving — 34,195 Bancaribe Curacao Bank N.V. — 2,411 Banco Crédito del Perú — 104,831 Banco de Bogotá 4,156 8,250 Banco Latinoamericano de Exportación (BLADEX) 60,759 63,991 Banco República — 1,403 Bancoldex S.A. (Colombia) 11,123 46,390 Bank of America, N.A. 92,395 160,243 Bank of Montreal 113,404 104,331 Bank of New York 56,858 — Bank of Nova Scotia 82,324 101,989 Bayern Landesbank — 2,411 BBVA Asset Management Continental S.A. (Perú) 75,057 86,709 BNP Paribas 92,167 98,817 China Construction Bank — 5,556 Citibank N.A. 37,522 206,549 Cobank C.B. 16,258 30,882 Commerzbank A.G. 24,055 71,646 Corporación Andina de Fomento 71,073 75,149 Credicorp Capital SASAF 175,854 200,374 Deutsche Bank A.G. 74,220 — Export Development Canada — 12,078 Findeter S.A. Financiera del Desarrollo Territorial 44,100 44,552 HSBC USA — 74,877 IFC Corporación Financiera Internacional 82,561 118,065 Ing Bank NV — 14,870 Interfondos S.A. Sociedad Administradora de Fondos 20,105 55,596 KBC Bank NV — 21,896 La Caixa 25,690 13,961 Mizuho Corporate Bank — 2,411 Scotia Fondos Sociedad Administradora de Fondos S.A. 24,280 34,951 Shanghai Commercial & Savings Bank — 279,202 Standard Chartered Bank — 229,063 Sumitomo Mitsui Banking Corporation 217,347 44,826 The Export-Import Bank of Korea — 146,549 Unicredit Bank 14,220 — Wells Fargo Bank, N.A. 67,519 82,480 Zuercher Kantonalbank 7,044 — Others 51,661 65,252 Subtotals 1,541,752 2,646,756 Totals 3,798,978 2,646,756 (*) Corresponds to funds obtained through the new Conditional Funding Facility (FCIC) and the Liquidity Credit Line (LCL), granted by the Central Bank of Chile (BCCh) in response to the financials needsgenerated by the spread of the COVID-19 virus. Funds obtained through FCIC are guaranteed by high credit quality loans and / or bonds issued by the BCCh and have automatic and successively monthly renewal maturities, with a maximum term of 4 years from March 30, 2020 until March 30, 2024. The LCL differs from FCIC as is not guaranteed, has a maximum term of 2 years and is granted based on the amount of the Bank's average reserve requirements. Both, the FCIC and the LCL, accrue interests at the BCCh overnight rate in force on the date of each operation. Note 19 - Interbank Borrowings, continued b) Interbank borrowings by maturity are as follows: As of December 31, 2020 2019 MCh$ MCh$ Within 1 year 942,140 1,997,751 After 1 year but within 2 years 962,045 442,784 After 2 years but within 3 years 8,764 83,908 After 3 years but within 4 years 1,847,890 80,073 After 4 years but within 5 years 15,675 7,521 After 5 years 22,464 34,719 Totals 3,798,978 2,646,756 |
Debt Instruments Issued and Oth
Debt Instruments Issued and Other Financial Liabilities | 12 Months Ended |
Dec. 31, 2020 | |
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Debt Instruments Issued and Other Financial Liabilities | Note 20 - Debt Instruments Issued and Other Financial Liabilities As of December 31, 2020 and 2019, composition of debt instruments issued and other financial liabilities is as follows: As of December 31, 2020 2019 MCh$ MCh$ Debt instruments issued Mortgage finance bonds 30,846 40,933 Senior bonds 5,092,979 5,289,084 Subordinated bonds 1,081,031 1,078,339 Subtotals 6,204,856 6,408,356 Other financial liabilities Liabilities with the public sector — 10 Borrowings from local financial institutions 13,123 12,956 Subtotals 13,123 12,966 Totals 6,217,979 6,421,322 Debts classified as short-term are those that constitute demand obligations or will mature within a year. All other debts are classified as long-term. Detail is as follows As of December 31, 2020 Long term Short term Totals MCh$ MCh$ MCh$ Mortgage finance bonds 24,251 6,595 30,846 Senior bonds 4,771,301 321,678 5,092,979 Subordinated bonds 1,081,031 — 1,081,031 Debt instruments issued 5,876,583 328,273 6,204,856 Other financial liabilities — 13,123 13,123 As of December 31, 2019 Long term Short term Totals MCh$ MCh$ MCh$ Mortgage finance bonds 33,046 7,887 40,933 Senior bonds 4,645,463 643,621 5,289,084 Subordinated bonds 1,078,339 — 1,078,339 Debt instruments issued 5,756,848 651,508 6,408,356 Other financial liabilities — 12,966 12,966 The following tables provide with additional information, including maturities, for each type of debt issued as of December 31, 2020 and 2019. Note 20 - Debt Instruments Issued and Other Financial Liabilities, continued a) Mortgage finance bonds Detail of maturities for mortgage finance bonds is as follows: As of December 31, 2020 2019 MCh$ MCh$ Within 1 year 6,595 7,887 After 1 year but within 2 years 5,638 6,508 After 2 years but within 3 years 5,068 6,072 After 3 years but within 4 years 4,544 5,524 After 4 years but within 5 years 3,484 5,121 After 5 years 5,517 9,821 Totals 30,846 40,933 b) Senior bonds Details for senior bonds, by currency, are as follows: As of December 31, 2020 2019 MCh$ MCh$ Bonds in UF 4,134,994 4,273,637 Bonds in CLP 399,992 481,083 Bonds in COP 557,993 534,364 Totals 5,092,979 5,289,084 Detail of maturities for senior bonds is as follows: As of December 31, 2020 2019 MCh$ MCh$ Due within 1 year 321,678 643,621 After 1 year but within 2 years 486,427 323,921 After 2 years but within 3 years 309,111 608,342 After 3 years but within 4 years 589,699 282,882 After 4 years but within 5 years 592,851 478,634 After 5 years 2,793,213 2,951,684 Totals 5,092,979 5,289,084 Note 20 - Debt Instruments Issued and Other Financial Liabilities, continued The following table presents details for senior bonds issued: Senior bonds issued during the year ended December 31, 2020: Serie Currency Amount Term Issuance rate Placement date Maturity date BITACR0418 UF 500,000 5 years and 8 months 2% annual 01/14/2020 10/09/2025 BITACR0418 UF 1,000,000 5 years and 8 months 2% annual 01/14/2020 10/09/2025 BITACR0418 UF 500,000 5 years and 8 months 2% annual 01/14/2020 10/09/2025 BITACR0418 UF 3,000,000 5 years and 9 months 2% annual 04/08/2020 10/09/2025 BITACS0418 UF 3,000,000 6 years and 6 months 2% annual 04/08/2020 10/09/2026 Totals 8,000,000 Serie Currency Amount Term Issuance rate Placement date Maturity date SERIE A - 60 COP 148,100,000,000 5 years 6.00% annual 02/27/2020 02/27/2025 SERIE U - 120 COP 351,837,710,484 10 years 2.71% annual 02/27/2020 02/27/2030 SERIE A SUBSERIE A60 COP 165,915,000,000 5 years 4.83% annual 09/29/2020 09/29/2025 SUBSERIE B36 COP 134,100,000,000 3 years 1.28% annual 09/29/2020 09/29/2023 Totals 799,952,710,484 Senior bonds issued during the year ended December 31, 2019: Serie Currency Amount Term Issuance rate Placement date Maturity date BCORAM0710 UF 2,000,000 5 years and 5 months 3% annual 02/11/2019 07/01/2024 BCORAM0710 UF 3,000,000 5 years and 5 months 3% annual 02/15/2019 07/01/2024 BITACU0418 UF 2,000,000 9 years and 7 months 2% annual 02/25/2019 10/09/2028 BITACU0418 UF 2,000,000 9 years and 7 months 2% annual 02/26/2019 10/09/2028 BITACV0418 UF 2,000,000 10 years and 7 months 2% annual 03/07/2019 10/09/2029 BITACV0418 UF 2,000,000 10 years and 7 months 2% annual 03/14/2019 10/09/2029 BITACW0418 UF 2,500,000 11 years and 5 months 2% annual 05/07/2019 10/09/2030 BITACS0418 UF 2,000,000 7 years and 3 months 2% annual 07/03/2019 10/09/2026 Totals 17,500,000 Serie Currency Amount Term Issuance rate Placement date Maturity date BCORBX0914 CLP 40,000,000 2 years and 2 months 5% annual 07/04/2019 09/01/2021 BCORBX0914 CLP 1,000,000 2 years and 2 months 5% annual 07/05/2019 09/01/2021 BCORBX0914 CLP 14,500,000 2 years and 2 months 5% annual 07/10/2019 09/01/2021 BCORBX0914 CLP 1,500,000 2 years and 2 months 5% annual 07/15/2019 09/01/2021 Totals 57,000,000 Serie Currency Amount Term Issuance rate Placement date Maturity date SUBSERIE A36 COP 163,035,000,000 3 years 6.13% annual 05/21/2019 05/21/2022 SUBSERIE C60 COP 186,965,000,000 5 years 2.86% annual 05/21/2019 05/21/2024 SERIE A SUBSERIE A60 – 60 COP 170,820,000,000 5 years 6.05% annual 10/16/2019 10/16/2024 SERIE C SUBSERIE C84 – 84 COP 50,000,000,000 7 years 2.28% annual 10/16/2019 10/16/2026 SERIE C SUBSERIE C120 COP 129,180,000,000 10 years 2.76% annual 10/16/2019 10/16/2029 Totals 700,000,000,000 Note 20 - Debt Instruments Issued and Other Financial Liabilities, continued c) Subordinated bonds Details of subordinated bonds, by currency, are as follows: As of December 31, 2020 2019 MCh$ MCh$ Bonds in UF 95,373 95,545 Bonds in CLP 811,185 796,564 Bonds in COP 174,473 186,230 Totals 1,081,031 1,078,339 Detail of maturities for subordinated bonds is as follows: As of December 31, 2020 2019 MCh$ MCh$ Within 1 year — — After 1 year but within 2 years 10,082 — After 2 years but within 3 years 21,706 14,526 After 3 years but within 4 years 122,290 23,923 After 4 years but within 5 years — 128,717 After 5 years 926,953 911,173 Totals 1,081,031 1,078,339 For the years ended December 31, 2020 and 2019 no issuance of subordinated bonds took place. d) Others financial obligations As of December 31, 2020 2019 MCh$ MCh$ Within 1 year — — After 1 year but within 2 years — — After 2 years but within 3 years — — After 3 years but within 4 years — — After 4 years but within 5 years — — After 5 years — — Totals financial liabilities — — Short-term financial liabilities Amounts due to credit card transactions 13,123 12,956 Others — 10 Totals short-term financial liabilities 13,123 12,966 Totals other financial liabilities 13,123 12,966 As of December 31, 2020 and 2019, the Bank has not incurred in any default in the payments of principal, interest or others in regard to debt instruments issued. |
Provisions
Provisions | 12 Months Ended |
Dec. 31, 2020 | |
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Provisions | Note 21 - Provisions As of December 31, 2020 and 2019, the Bank has registered the following movements in its provisions: a) Other Provisions Provisions disclosed in liabilities as of December 31, 2020 and 2019 present the following detail: As of December 31, 2020 2019 MCh$ MCh$ Provisions for personnel salaries and expenses 90,739 102,877 Provisions for mandatory dividends — 38,120 Provisions for contingent loans risk 39,775 34,271 Provisions for contingencies 4,576 2,559 Totals 135,090 177,827 b) Movements in provisions for contingent loans risk, for the year ended December 31, 2020 are as follows: Provisions for contingent loans risk Stage 1 Stage 2 Stage 3 12-Month ECL Lifetime ECL Lifetime ECL Totals Opening balances as of January 1, 2020 13,889 14,172 6,210 34,271 Changes in provisions - Transfers to stage 1 574 (549) (25) — - Transfers to stage 2 (1,991) 2,037 (45) — - Transfers to stage 3 (73) (112) 185 — - Increases due to change in credit risk 3,554 4,347 724 8,625 - Decreases due to change in credit risk (3,475) (6,466) (205) (10,146) - Charge-offs (14) (28) (6) (48) - Changes due to modifications that did not result in derecognition — — — — New financial assets originated or purchased 6,365 1,780 7,357 15,502 Financial assets that have been derecognized (4,633) (1,282) (5,410) (11,325) Changes in models/risk parameters — — — — Foreign exchange and other movements 4,391 (1,720) 224 2,896 Ending balances as of December 31, 2020 18,587 12,179 9,009 39,775 Note 21 – Provisions, continued Movements in provisions for contingent loans risk, for the year ended December 31, 2019 are as follows: Provisions for contingent loans risk Stage 1 Stage 2 Stage 3 12-Month ECL Lifetime ECL Lifetime ECL Totals Opening balances as of January 1, 2019 15,879 28,112 1,857 45,848 Changes in provisions - Transfers to stage 1 1,123 (1,036) (87) — - Transfers to stage 2 (521) 570 (49) — - Transfers to stage 3 (90) (161) 251 — - Increases due to change in credit risk 1,932 1,618 4,605 8,155 - Decreases due to change in credit risk (5,695) (802) (157) (6,654) - Charge-offs — — — — - Changes due to modifications that did not result in derecognition — — — — New financial assets originated or purchased 5,490 1,193 780 7,463 Financial assets that have been derecognized (4,927) (15,322) (990) (21,239) Changes in models/risk parameters — — — — Foreign exchange and other movements 698 — — 698 Ending balances as of December 31, 2019 13,889 14,172 6,210 34,271 c) The following table details the movements in provision during 2020 and 2019: Provisions for personnel Provision for Provisions for Provisions for salaries and expenses mandatory dividends contingent loans risk contingencies (i) (ii) (iii) Totals MCh$ MCh$ MCh$ MCh$ MCh$ Opening balances as of January 1, 2020 102,877 38,120 34,271 2,559 177,827 Provisions applied (55,487) (38,120) — (85) (93,692) Provisions established 133,055 — 16,366 4,593 154,014 Provisions released (85,078) — (10,861) (2,016) (97,955) Other movements (4,628) — (1) (475) (5,104) Ending balances as of December 31, 2020 90,739 — 39,775 4,576 135,090 Provisions for personnel Provisions for Provisions for Provisions for salaries and expenses mandatory dividends contingent loans risk contingencies (i) (ii) (iii) Totals MCh$ MCh$ MCh$ MCh$ MCh$ Opening balances as of January 1, 2019 99,945 51,614 45,848 17,496 214,903 Provisions applied (71,020) (51,614) (23,804) 5,601 (140,837) Provisions established 82,456 38,120 18,483 5,408 144,467 Provisions released (17,514) — (6,954) (26,367) (50,835) Other movements 9,010 — 698 421 10,129 Ending balances as of December 31, 2019 102,877 38,120 34,271 2,559 177,827 (i) Employee benefits and staff salaries are recorded in “Personnel salaries and expenses.” (ii) Mandatory dividends is recorded in the Consolidated Statement of Financial Position in equity, against “Provision for mandatory dividends.” Note 21 – Provisions, continued (iii) The provisions for contingencies (established) or released are included in Other operating (expenses)/income, depending on whether they are debit or a credit. d) Provisions for payroll and employee benefits As of December 31, 2020 2019 MCh$ MCh$ Provision for long-term termination benefits (e.1) 9,300 9,814 Provision for pension plan (e.2) 31,531 35,166 Provision for retroactive unemployment plan (e.3) 296 334 Provision for retirements bonus plan (e.4) 689 687 Provision for compensation due to years of service (short term) 716 — Provision for other employee benefits (*) 31,000 41,645 Vacation accrual (**) 17,207 15,231 Totals 90,739 102,877 (*) Short-term benefits (**) Includes provision for performance compensations, holiday benefits, year-end bonuses and other similar employee compensation. e) e.1) Other long-term employee benefits Description: Annual payment during the month in which the employee completes a given number of years of service (in five-year intervals from 5 to 50). Financing: The projected unit credit method was used to determine the present value of the defined-benefit obligation and the corresponding service cost. For all active plan participants, the “projected accrued benefit” is based on the plan formula and years of service as of the date of calculation, but using an average salary and social security benefits, etc., projected to the age at which it is assumed that the employee will stop providing services. The total benefit is used for inactive members. The plan does not have any related policies (and therefore no reimbursements) or assets, but rather uses structured funding based on the entity's financial conditions The economic assumptions are summarized as follows: As of December 31, 2020 2019 % % Summary of economic assumptions Discount rate 5.00 Expected rate of salary increase 4.50 5.50 Note 21 – Provisions, continued The movements of the present value of the obligation for this type of benefit and the amounts recognized in the Consolidated Statements of Income are determined using the projected credit unit method and it consist of the following: 2020 2019 MCh$ MCh$ Opening balances as of January 1, 9,814 8,298 Net cost of benefits (*) 1,191 1,490 Payments (820) (815) Provisions recorded — 278 Exchange differences (885) 563 Ending balances as of December 31, 9,300 9,814 (*) Detail of net cost of benefit is as follows: As of December 31, 2020 2019 MCh$ MCh$ Current services cost 681 Interest expense on obligation 510 Total 1,191 1,490 e.2) Pension plan Description : Old-age pension or Survivors in accordance with the Social Security Law in Colombia and benefits acquired with the Entity. Financing: The projected unit credit method is used to determine the present value of the benefit obligation and related service costs. Using this method the benefit obligation is determined as the present value of current benefits for past services, but calculating the plan benefit based on the salary projected to the date on which it is assumed that the participant receives the benefit. The plan has no policy (without refund) or associated assets, being a structured financing according to the financial conditions of the entity. The summary of the economic assumptions is as follows: As of December 31, 2020 2019 % % Assumptions Discount rate 4.25 6.50 Expected rate of salary increases 3.00 3.00 Inflation rate 3.00 3.00 Note 21 – Provisions, continued The detail of Pension plan balances movements is as follows: 2020 2019 MCh$ MCh$ Opening balances as of January 1, 35,166 30,908 Interest expense on obligation 1,911 2,120 Payments (3,260) (3,768) Actuarial losses (gains) 885 4,512 Exchange differences (3,171) 1,394 Ending balances as of December 31, 31,531 35,166 e.3) Retroactive unemployment plan Description : Retroactive unemployment plan prior to Law 50 from 1990 in Colombia. Financing: The projected unit credit method is used to determine the present value of the benefit obligation and related service costs. For all active plan participants, the “projected accrued benefit” is based on the plan formula and years of service as of the date of calculation, but using an average salary and social security benefits, etc., projected to the age at which it is assumed that the employee will stop providing services. The total benefit is used for inactive members. The plan does not have any related policies (and therefore no reimbursements) or assets, but rather uses structured funding based on the entity's financial conditions. The economic assumptions are summarized as follows: As of December 31, 2020 2019 % % Assumptions Discount rate 4.25 5.50 Expected rate of salary increases 4.50 5.50 Inflation rate 3.00 3.00 The details of movements for this benefits during years ended December 31, 2020 and 2019 are as follows: 2020 2019 MCh$ MCh$ Opening balances as of January 1, 334 373 Current services costs 87 136 Interest expense on obligations 15 21 Actuarial gains (29) (113) Payments of benefits (80) (108) Exchange differences (31) 25 Ending balances as of December 31, 296 334 Note 21 – Provisions, continued e.4) Retirement Bonus Plan Description: Fixed payment upon retirement Financing: The projected unit credit method is used to determine the present value of the benefit obligation and related service costs. Under this method, the benefit obligation is determined by the present value of the current benefits for past service but calculating the plan benefit based on the projected salary as of the date in which it is assumed that the participant will receive the benefit. The economic assumptions are summarized as follows: As of December 31, 2020 2019 % % Summary of economic hypothesis Discount rate(s) Expected rate(s) of salary increase Inflation rate The movements in amounts recognized for this benefit are as follows: 2020 2019 MCh$ MCh$ Opening balances as of January 1, 687 542 Current service costs 46 — Interest expense on obligation 39 81 Actuarial (gains) losses (13) 33 Payments of benefits (7) (6) Exchange differences (63) 37 Ending balances as of December 31, 689 687 The effect on Other Comprehensive Income is summarized as follows: For the years ended December 31, 2020 2019 2018 MCh$ MCh$ MCh$ Pension plan (e.2) 885 (4,512) (698) Retroactive unemployment plan (e.3) (29) 113 (32) Retirement bonus plan (e.4) 33 (33) (24) Total recognition of obligations for defined benefits 889 (4,432) (754) Future payments Future actuarial calculations may differ with respect to the calculations presented, due to the following factors: · The experience of the plans differs from those anticipated by the selected economic and demographic hypotheses. · Changes in economic and demographic assumptions. Note 21 – Provisions, continued · Expected increases or decreases as a natural part of the functioning of the methodology for these calculations (for example, the end of the amortization period or additional costs based on the financing situation of the plan). · Changes in the characteristics of the applicable plan or law, and with respect thereto, there are no significant events affecting the results presented since the last assessment. The following is a detail of future payments for the year 2020 and 2019: Long-term Retroactive Retirement termination unemployment benefit 2020 benefits Pension plan plan plan MCh$ MCh$ MCh$ MCh$ Fiscal year 2021 953 2,614 65 72 Fiscal year 2022 1,105 2,471 56 42 Fiscal year 2023 1,105 2,410 66 48 Fiscal year 2024 877 2,388 29 38 Fiscal year 2025 786 2,360 15 40 Fiscal year 2026-2030 (combined) 4,612 11,161 43 197 Long-term Retroactive termination unemployment Retirement 2019 benefits Pension plan plan benefit plan MCh$ MCh$ MCh$ MCh$ Fiscal year 2020 948 3,116 69 64 Fiscal year 2021 1,058 2,960 16 28 Fiscal year 2021 1,250 2,793 70 47 Fiscal year 2023 1,245 2,725 77 50 Fiscal year 2024-2031 (combined) 915 2,698 29 42 Fiscal year 2025-2031 (combined) 5,134 12,844 71 222 |
Other liabilities and liabiliti
Other liabilities and liabilities directly associated with non-current assets held for sale | 12 Months Ended |
Dec. 31, 2020 | |
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Other liabilities and liabilities directly associated with non-current assets held for sale | Note 22 - Other liabilities and liabilities directly associated with non-current assets held for sale a) As of December 31, 2020 and 2019 the other liabilities are as follows: As of December 31, 2020 2019 MCh$ MCh$ Accounts and notes payable (1) 310,713 382,271 Dividends payable 246 267 Unearned income (2) 5,946 5,644 Unearned fees 7,690 8,321 Payables due to brokerage transactions 24,572 140,799 Collateral for financial transactions (threshold) 308,674 116,654 Other liabilities 42,193 54,958 Totals 700,034 708,914 (1) Obligations other than those directly related to the business operations, such as payable withholding taxes, payable social security contributions, balances due on purchases of materials, balances due on obligations under lease agreements for the acquisition of fixed assets, accounts payable for expenses, and others. (2) It corresponds to commissions associated with financial advisory and insurance brokerage businesses that must be deferred in accordance with applicable regulations. b) |
Contingencies, Commitments, and
Contingencies, Commitments, and Responsibilities | 12 Months Ended |
Dec. 31, 2020 | |
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Contingencies, Commitments, and Responsibilities | Note 23 - Contingencies, Commitments, and Responsibilities a) Lawsuits and Legal Proceedings Lawsuits against the Bank with provision As of the date of issuance of these Consolidated Financial Statements, legal actions have been filed against the Bank and its subsidiaries involving its transactions in the ordinary course of business. They are mainly lawsuits pending against the Bank related to loans and other matters, most of which, according to the Bank’s Legal Services Divisions involved in the suits, present no risk of significant loss. Notwithstanding the above, provisions for MCh$545 and MCh$280 as of December 31, 2020 and December 31, 2019, respectively have been established in the Consolidated Financial Statements. Other lawsuits against the Bank without provision Other legal actions have been filed against the Bank and its subsidiaries involving transactions carried out in the ordinary course of business. The Bank’s maximum exposure for these lawsuits amounts to approximately MCh$22,737 as of December 31, 2020 and MCh$22,207 as of December 31, 2019. In Management’s opinion based on reports from the Legal Division as of December 31, 2020, considering the procedural status of these lawsuits, it is not possible at the moment to conclude whether they may result in significant losses not contemplated by the Bank in the Consolidated Financial Statements. Itaú Corpbanca Colombia S.A. The Bank and its subsidiaries are involved in civil, administrative and labor proceedings. The outstanding civil and administrative proceedings, them are related to banking transactions, and the remaining ones derive from the ownership of leased assets. Such claims amount, in the aggregate, to MCh$35,043 as of December 31, 2020 (MCh$38,503 as of December, 2019). According to the evaluation of the expected results in each lawsuit the Bank has recorded a provision of MCh$94 as of December 31, 2020 (MCh$141 as of December 31, 2019). b) Commitments Transaction Agreement On January 29, 2014, Inversiones Corp Group Interhold Limitada, Inversiones Saga Limitada ( both together “CorpGroup”), Itaú-Unibanco Holding S.A., Corpbanca, and Banco Itaú Chile, subscribed a contract called “Transaction Agreement”, in accordance to the contract, they agreed a strategic association of its operations in Chile and Colombia. This strategic association gave rise to the merger of Corpbanca and Banco Itaú Chile, which was renamed “Itaú Corpbanca” and took place on April 1, 2016 The Transaction Agreement (from January 2014 and its subsequent modifications) also contemplates that on January 28, 2022 Itaú Corpbanca will purchase from CorpGroup the 12.36% of shares in Itaú Corpbanca Colombia, equivalent to the participation that CorpGroup held (directly or through other entities) in said entity at the merger date, corresponding to 93,306,684 shares. The purchase price agreed will be US$3.5367 per share, amounting to US$329,997,749.30, plus interest from August 4, 2015 until the payment date at an annual interest rate equal to Libor plus 2.7% minus the sum of the aggregate amount of dividends paid by Itaú Corpbanca Colombia to CorpGroup for the corresponding shares. This agreement, as explicitly noted, is subject to the prior approvals from the regulators, as applicable, in Chile and abroad. Note 23 - Contingencies, Commitments, and Responsibilities, continued According to article 76 of the General Banking Law, investments in shares of banks established abroad are subject to the prior approval of the Superintendency of Banks and Financial Institutions in Chile (currently CMF), as well as the Central Bank of Chile (BCCH), which in turn is subject to compliance with the conditions set forth in article 78 of said legal corp. Additionally, in the case of banks incorporated in Colombia, an eventual acquisition of shares in Itaú Corpbanca Colombia by Itaú Corpbanca is also subject to the prior authorization of the Financial Superintendency of Colombia (SFC). Consequently, the aforementioned transaction must be confirmed only by the occurrence of one or more future and uncertain events that are not entirely under the control of the Bank. Acquisition of the MCC entities In accordance with the Transaction Agreement executed on January 29, 2014 between Inversiones Corp Group Interhold SpA, Inversiones Saga Limitada (these last two, together “CorpGroup”), Itaú Unibanco Holding S.A., Corpbanca and Banco Itaú Chile, subsequently modified on June 2, 2015 and January 20, 2017, hereinafter the “Transaction Agreement”, Itaú Unibanco Holding S.A. assumed the obligation to transfer to Itaú Corpbanca, and the latter the obligation to acquire, 100% of its shares in MCC Securities Inc., MCC Asesorías S.A., and MCC S.A. Corredores de Bolsa (herein “MCC entities”) in accordance with the terms agreed upon and subject to normal terms and conditions for this kind of transactions. On May 28, 2019, the Board of Directors of Itaú Corpbanca approved to proceed with the acquisition of the MCC entities, in accordance with the provisions of the Transaction Agreement and in compliance with the provisions of Title XVI of Law No. 18,046 on Corporations. The acquisition of the shares of the MCC entities by Itaú Corpbanca is subject to the corresponding regulatory approvals, including approval from the Commission for the Financial Market. Acquisition of 20% ownership in Itaú Corredor de Seguros Colombia S.A. On November 5, 2019, Itaú Corpbanca committed to acquire 20% of the shares that Helm LLC holds in Itaú Corredor de Seguros de Colombia S.A. The acquisition of the shares of Itaú Corredor de Seguros de Colombia S.A. by Itaú Corpbanca, is subject to the corresponding regulatory approvals, including the approval from the Commission for the Financial Market. Note 23 - Contingencies, Commitments, and Responsibilities, continued c) The following table contains the amounts for which the Bank and its subsidiaries are contractually obliged to grant loans together with the relevant allowances for loan losses: As of December 31, 2020 2019 MCh$ MCh$ Collateral and guarantees 437,396 548,521 Confirmed foreign letters of credit 2,207 509 Letters of credit issued 136,561 97,553 Documented guarantees 1,407,102 1,501,957 Available on demand credit lines 2,656,219 2,623,744 Other credit commitments 754,375 1,167,802 Totals 5,393,860 5,940,086 For information on provisions for contingent loans, see Note 21, letter b. d) Responsibilities The Bank and its subsidiaries have the following responsibilities arising from its regular course of business: As of December 31, 2020 2019 MCh$ MCh$ Third party operations Collections 16,540 17,985 Transferred financial assets managed by the Bank 1,183,053 1,200,155 Third party funds under management — 2,541,495 Subtotals 1,199,593 3,759,635 Custody of securities Securities held in custody 2,269,967 5,229,078 Securities held in custody deposited in other entities 259 — Securities issued by the Bank held in custody 105,585 131,648 Subtotals 2,375,811 5,360,726 Totals 3,575,404 9,120,361 Note 23 - Contingencies, Commitments, and Responsibilities, continued e) Guarantees, Contingencies and other Itaú Corpbanca As a result of the financial needs generated by the Covid-19 pandemic, the Central Bank of Chile (BCCh) has implemented the new Conditional Funding Facility (FCIC) and the Liquidity Credit Line (LCL) as measures to support liquidity and credit access for the Chilean economy. The FCIC program is guaranteed by high credit quality loans and/or bonds issued by the BCCh. The FCIC program provides banks access to 4-year loans at the policy rate, with available funds size increasing as a function of additional loans and financial instruments pledged as collateral .This measure includes the possibility to substitute the financial instruments on which the collateral was initially pledged to the BCCh, if required. As of December 31, 2020, the Bank has pledged 162 loans to guarantee the access to the new Conditional Funding Facility (FCIC) provided by the BCCh. The principal of the loans amounts to Ch$1,766,997 million, while the credit quality of the loans varies between A1 and A4 according to our loans rating policy, which are from the highest quality. Additionally, the Bank has pledged as collateral, financial instruments from the FVTOCI portfolio for an amount of Ch$319,213 million. Itaú Corredores de Seguros S.A. In order to comply with Article 58, letter d) of the Chilean Decree with Force of Law (“DFL”) 251 of 1930, which states that, “Insurance brokers, in order to conduct business, must comply with the requirement of contracting insurance policies as determined by the Commission for the Financial Market (Ex- Superintendency of Securities and Insurance), in order to correctly and fully comply with the obligations arising from its activities and especially regarding damages that may be incurred by insured parties taking policies through the brokerage house,” the subsidiary has renewed the following insurance policies: Entity From To Amount (UF) Beneficiary Consorcio Nacional de Seguros S.A. 04-15-2020 04-14-2021 60,000 and 500 Itaú Corredores de Seguros S.A. Itaú Corredores de Bolsa Limitada In order to comply with articles 30 and 31 of Chilean Law 18,045, this subsidiary kept a bank guarantee certificate with the Chilean Electronic Stock Exchange and Santiago Stock Exchange, to ensure the correct and complete fulfillment of its obligations as stockbroker. The beneficiaries are the current or future creditors that the subsidiary has or will have derived from its transactions. The detail of the bank guarantee certificate is as follows: Entity From To Amount (UF) Beneficiary Itaú Corpbanca Chile 04-22-2020 04-22-2021 16,000 Bolsa Electrónica de Chile Mapfre Compañía de Seguros S.A 04-22-2020 04-22-2022 4,000 Bolsa de Comercio de Santiago Itaú Corpbanca Chile 04-22-2020 06-22-2021 10,000 Comisión para el Mercado Financiero In addition, the Company has contracted a comprehensive insurance policy to provide for possible situations of operational fidelity. The detail of the comprehensive insurance policy is as follows: Entity From To Amount (UF) Beneficiary Orión Seguros Generales S.A 06-26-2020 05-31-2021 5,000 and 10,000 Bolsa Electrónica de Chile Note 23 - Contingencies, Commitments, and Responsibilities, continued The Company pledged the shares of the Santiago Stock Exchange in favor of said company, to guarantee compliance with the obligations with respect to transactions carried out with other brokers. The amount amounts to MCh$5,325 as of December 31, 2020 (MCh$18,479 as of December 31, 2019). The Broker is registered in the Registry of Portfolio Administrators since November 22, 2017, for which it maintains a guarantee ticket in Itaú Corpbanca with an expiration date of June 22, 2021, for an amount of UF10,000 as representative of the beneficiaries of the guarantee in articles 98 and 99 of Law No. 20,172, in order to guarantee the faithful and full compliance of the Portfolio Administration obligations. There are guarantees for ThUS$100 equivalent to ThCh$71, to guarantee operations with foreign traders Pershing. As of December 31, 2020, the Broker maintains in the Santiago Stock Exchange, cash and fixed income securities to guarantee operations in the Securities Clearing and Settlement House for MCh$5,988 (MCh$9,067 as of December 31, 2019). Itaú Administradora General de Fondos S.A. On April 9, 2020, Itaú Administradora General de Fondos S.A. contracted a new guarantee certificate of UF10,000 in favor of Fundación DUOC Pontificia Universidad Católica de Chile, to guarantee faithful compliance with Articles 12, 13 and 14 of Law No. 20,712 on Administration of Third Party Funds and Individual Portfolios, maturing on January 10, 2021. Itaú Corpbanca is the representative of its beneficiaries. Below are the guarantee slips and beneficiaries that Corpbanca Administradora General de Fondos S.A. maintains in effect to date, which were required to comply with the obligations of portfolio management contracts, their committees, Funds, payment of labor and social obligations with the contractor’s workers Entity From To Amount (UF) Amount (MCh$) Beneficiary Banco Santander Chile 06-02-2017 08-31-2021 15,000 — Corporación de Fomento de la Producción CORFO Banco Santander Chile 08-14-2017 08-30-2021 500 — Corporación de Fomento de la Producción CORFO Itaú-Corpbanca 07-02-2020 07-01-2021 — 50 Ferrocarriles del Estado |
Equity
Equity | 12 Months Ended |
Dec. 31, 2020 | |
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Equity | Note 24 - Equity a) Movements in equity accounts and reserves (attributable to the equity holders of the Bank): As of December 31, 2020, 2019 and 2018, the paid-in capital of the Bank is represented by common shares subscribed and paid, with no par value, and its motion presented below: Common shares 2020 2019 2018 (number) (number) (number) Issued as of January 1, 512,406,760,091 512,406,760,091 512,406,760,091 Issuance of paid shares — — — Increase in share for Itaú-Corpbanca business combination — — — Issuance of shares pending payment — — — Repurchase of own shares — — — Sale of own shares — — — Issued as of December 31, 512,406,760,091 512,406,760,091 512,406,760,091 · Subscribed and paid shares As of December 31, 2020, 2019 and 2018, the Bank has a capital in the amount of MCh$1,862,826, consisting of 512,406,760,091 common shares subscribed and paid, with no par value. · Purchase and sale of own shares During the years ended December 31, 2020 and 2019, there were no transactions to buy and sell shares of own issuance. Note 24 – Equity, continued · List of major shareholders The shareholders list as of December 31, 2020, 2019 and 2018, is as follows: Shares 2020 2019 2018 Number of Ownership Number of Ownership Number of Ownership Company name or shareholder name shares % shares % shares % Itaú Unibanco 200,966,823,626 39.22 % 195,408,043,473 38.14 % 195,408,043,473 38.14 % Itaú Unibanco Holding S.A. 115,039,610,411 22.45 % 115,039,610,411 22.45 % 115,039,610,411 22.45 % ITB Holding Brasil Participaçoes Ltda. 62,567,655,359 12.21 % 57,008,875,206 11.13 % 57,008,875,206 11.13 % CGB II SpA 10,908,002,836 2.13 % 10,908,002,836 2.13 % 10,908,002,836 2.13 % CGB III SpA 1,800,000,000 0.35 % 1,800,000,000 0.35 % 1,800,000,000 0.35 % Saga II SpA 7,000,000,000 1.37 % 7,000,000,000 1.37 % 7,000,000,000 1.37 % Saga III SpA 3,651,555,020 0.71 % 3,651,555,020 0.71 % 3,651,555,020 0.71 % Saieh Family 140,835,760,455 27.49 % 146,394,540,608 28.57 % 146,394,540,608 28.57 % Corp Group Banking S.A. 136,127,850,073 26.57 % 136,127,850,073 26.57 % 136,127,850,073 26.57 % Compañía Inmobiliaria y de Inversiones Saga SpA (1) 4,707,910,382 0.92 % 10,266,690,535 2.00 % 10,266,690,535 2.00 % International Finance Corporation 17,017,909,711 3.32 % 17,017,909,711 3.32 % 17,017,909,711 3.32 % Others 153,586,266,299 % 153,586,266,299 29.97 % 153,586,266,299 29.97 % Stock brokers 80,382,817,848 % 63,397,824,244 12.37 % 55,791,614,655 10.89 % ADR holders and foreign investors 35,127,077,810 % 50,376,882,652 9.83 % 42,838,887,354 8.36 % Local institutional investors 25,351,261,131 % 27,989,426,434 — 5.46 % 26,979,482,570 — 5.26 % Santo Domingo Group — — % 11,822,132,969 2.31 % 9,817,092,180 1.92 % Other minority shareholders 12,725,109,510 2.47 % — — % 18,159,189,540 3.54 % Totals 512,406,760,091 100 % 512,406,760,091 100 % 512,406,760,091 100 % (1) As of December 31, 2019, includes 1,005,897,850 shares owned by Saga held in custody. b) Dividends At the Ordinary Meeting of the Shareholders of Itaú Corpbanca held on March 18, 2020, the shareholders agreed to distribute net income for MCh$127,065 representing 100% of the profits for 2019 (as filed with the CMF) and at an Ordinary Meeting of the Shareholders of Itaú Corpbanca held on March 19, 2019, the shareholders agreed to distribute profits for MCh$51,614, representing 30% of the 2018 net income (as filed with the CMF). Income Allocated to attributable to reserves and Dividend per equity holders retained Allocated to Percentage share Years (*) earnings (*) dividends distributed Number of shares (in pesos) MCh$ MCh$ MCh$ % Year 2019 (Shareholders’ Meeting March 2020) 127,065 — 127,065 100% 512,406,760,091 0.24798 Year 2018 (Shareholders’ Meeting March 2019) 172,047 120,433 51,614 30% 512,406,760,091 0.10073 (*) According to the Consolidated Financial Statements filed with the CMF. Note 24 – Equity, continued As of December 31, 2020 and 2019 and for the year ended December 31, 2020, 2019 and 2018, the basic earnings and diluted earnings are as follows: As of and for the years ended December 31, 2020 2019 2018 N° of Shares Amount N° of Shares Amount N° of Shares Amount Millions MCh$ Millions MCh$ Millions MCh$ Basic earnings per share Net income for the year — (808,784) — 113,684 — 171,331 Weighted average number of outstanding shares 512,407 — 512,407 — 512,407 — Assumed convertible debt conversion — — — — — — Adjusted number of outstanding shares 512,407 — 512,407 — 512,407 — Basic earnings per share (Chilean pesos) — (1.578) — 0.222 — 0.334 Diluted earnings per share Net income for the year — (808,784) — 113,684 — 171,331 Weighted average number of outstanding shares 512,407 — 512,407 — 512,407 — Dilutive effects Assumed convertible debt conversion — — — — — — Conversion of common shares — — — — — — Options rights — — — — — — Adjusted number of shares 512,407 — 512,407 — 512,407 512,407 Diluted earnings per share (Chilean pesos) — (1.578) — 0.222 — 0.334 During the years ended December 31, 2020, 2019 and 2018, there were no dilutive effects. c) Valuation accounts Financial instruments at FVTOCI: It includes accumulated net changes in the fair value of investments at FVTOCI for the years ended on December 31, 2020, 2019 and 2018 Hedge of net investment in foreign operations: Corresponds to adjustments for hedges of net investments in foreign operations. Cash flows hedge: It includes the effects of hedges on the Bank’s exposure to variations in cash flows that are attributed to a particular risk related to a recognized asset and/or liability, which may affect the results of the period. Exchange differences on investments in Colombia and New York branch: It includes the effects of converting the financial statements of the New York branch and Colombian subsidiaries, whose functional currencies are the US dollar and Colombian peso, respectively, to the presentation currency of Bank Itaú Corpbanca (Chilean peso). Defined benefits obligations: This includes the effects of complying with IAS 19 “ Employees Benefit ”. Note 24 – Equity, continued The following are the equity effects and income taxes for years ended December 31, 2020, 2019 and 2018: Exchange differences on Hedge of net investment in Debt investments in Colombia and Defined Equity instruments Cash flow foreign New York benefits instruments As of December 31, 2020 at FVTOCI hedge operations branch obligations at FVTOCI Totals MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Other comprehensive income (loss) before income taxes Opening balances as of January 1, 2020 37,484 (822) (17,383) 37,328 (6,484) 1,739 51,862 Effects for the year (4,330) (7,799) 80,722 (64,169) (1,632) 310 3,102 Transfer of gain on disposal of equity investments at fair value through other comprehensive income to retained earnings — — — 12 — (389) (377) Ending balances as of December 31, 2020 33,154 (8,621) 63,339 (26,829) (8,116) 1,660 54,587 Income taxes related to components of other comprehensive income (loss) Opening balances as of January 1, 2020 (12,705) (465) 6,627 — 1,798 — (4,745) Effects for the period (55) (1,602) (21,795) — 434 — (23,018) Ending balances as of December 31, 2020 (12,760) (2,067) (15,168) — 2,232 — (27,763) Net balances as of December 31, 2020 20,394 (10,688) 48,171 (26,829) (5,884) 1,660 26,824 Exchange differences on Hedge of net investment in Debt investments Colombia and Defined Equity instruments Cash flow in foreign New York benefits instruments As of December 31, 2019 at FVTOCI hedge operations branch obligations at FVTOCI Totals MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Other comprehensive income (loss) before income taxes Opening balances as of January 1, 2019 16,459 5,559 29,403 (19,119) (3,236) 1,334 30,400 Effects for the year 21,025 (6,381) (46,786) 56,487 (3,248) 540 21,637 Transferof hain on disponsal of equity investments at fair value through other comprehensive income to retainedearnings — — — (40) — (135) (175) Ending balances as of December 31, 2019 37,484 (822) (17,383) 37,328 (6,484) 1,739 51,862 Income taxes related to components of other comprehensive income (loss) Opening balances as of January 1, 2019 (6,904) (280) (7,746) — 689 — (14,241) Effects for the year (5,801) (185) 14,373 — 1,109 — 9,496 Ending balances as of December 31, 2019 (12,705) (465) 6,627 — 1,798 — (4,745) Net balances as of December 31, 2019 24,779 (1,287) (10,756) 37,328 (4,686) 1,739 47,117 Note 24 – Equity, continued Exchange differences on Hedge of net investment Debt investments in Colombia Defined Equity instruments Cash flow in foreign and New York benefits instruments As of December 31, 2018 at FVTOCI hedge operations branch obligations at FVTOCI Totals MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Other comprehensive income (loss) before income taxes Opening balances as of January 1, 2018 16,592 (5,730) 64,741 (57,485) (2,736) — 15,382 Changes due initial adoption IFRS 9 481 — — — — 1,015 1,496 Restated opening balances as of January 1, 2018 17,073 (5,730) 64,741 (57,485) (2,736) 1,015 16,878 Effects for the period (614) 11,289 (35,338) 38,366 (500) 319 13,522 Ending balances as of December 31, 2018 16,459 5,559 29,403 (19,119) (3,236) 1,334 30,400 Income taxes related to components of other comprehensive income (loss) Opening balances as of January 1, 2018 (4,937) 1,389 (17,287) — 718 — (20,117) Changes due initial adoption IFRS 9 (499) — — — — — (499) Restated opening balances as of January 1, 2018 (5,436) 1,389 (17,287) — 718 — (20,616) Effects for the period (1,468) (1,669) 9,541 — (29) — 6,375 Ending balances as of December 31, 2018 (6,904) (280) (7,746) — 689 — (14,241) Net balances as of December 31, 2018 9,555 5,279 21,657 (19,119) (2,547) 1,334 16,159 d) Reserves This item corresponds to “Other non-earnings reserves” corresponding to the adjustments recorded as a result of the business combination between Banco Itaú Chile and Corpbanca for MCh$744,838 as of December 31, 2020 and 2019, and reserves from Banco Itaú Chile before the business combination for MCh$451,011 as of December 31, 2020 and 2019. e) Retained earnings from prior years This item corresponds to profits for the years ended December 31, 2020 and 2019 not distributed to shareholders for a total of MCh$37,533 and MCh$50,362. In consideration of the net loss recorded as of December 31, 2020 and according to local regulations (which do not contradict IFRS), it is important to consider that the accumulated losses must be absorbed, at the time of the opening balance of the next year, against retained earnings and reserves, in case retained earnings are not sufficient. Note 24 – Equity, continued f) Non-controlling interest This corresponds to the net amount of equity in the consolidated subsidiaries attributable to capital that does not belong, directly or indirectly, to the Bank, including the part of profit for the period that is attributed to them. Non-controlling interest in the subsidiary’s equity and profit for the year is detailed as follows: As of December 31, 2020 Other Comprehensive Income Hedge of Exchange net Financial differences investment Cash Defined Total other Total Non- Net instruments at on in foreign flows benefits Deferred comprehensive comprehensive Subsidiaries controlling Equity income FVTOCI (1) translation operations hedge obligations Tax income income % MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Itaú Corredor de Seguro Colombia S.A. (1) 20.200 % 404 (33) — — — — — — — (33) Itaú Corpbanca Colombia S.A. and subsidiaries 12.900 % 68,683 (17,338) (3,859) (7,602) — 2,117 1,629 (272) (7,987) (25,325) Totals 69,087 (17,371) (3,859) (7,602) — 2,117 1,629 (272) (7,987) (25,358) (1) Financial instruments at FVOCI include debt instruments for MCh$3,807 and equity instruments MCh$52 loss. As of December 31, 2019 Other Comprehensive Income Hedge of Exchange net Financial differences investment Cash Defined Total other Total Non- Net instruments at on in foreign flows benefits Deferred comprehensive comprehensive Subsidiaries controlling Equity income FVTOCI (2) translation operations hedge obligations Tax income income % MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Itaú Corredor de Seguro Colombia S.A. 20.200 % 478 125 — — — — — — — 125 Itaú Corpbanca Colombia S.A. and subsidiaries (2)(3) 12.900 % 93,967 10,713 952 17,368 — (411) (1,184) 331 17,056 27,769 Itaú Corredores de Seguros S.A. — % — — — — — — — — — — Totals 94,445 10,838 952 17,368 — (411) (1,184) 331 17,056 27,894 (2) Financial instruments at FVOCI include debt instruments for MCh$678 loss and equity instruments MCh$274 gain. (3) On December 3, 2019, after obtaining regulatory approvals from banking supervisors in Chile, Colombia and Brazil, Itaú Corpbanca completed the acquisition of the Itaú Corpbanca Colombia shares owned by Helm LLC and Kresge Stock Holding Company Inc. As a result of these acquisitions, Itaú Corpbanca owns approximately 87.10% of the shares of Itaú Corpbanca Colombia. As of December 31, 2018 Other Comprehensive Income Hedge of Exchange net Financial differences investment Cash Defined Total other Non- Net instruments at on in foreign Flows benefits Deferred comprehensive Comprehensive Subsidiaries controlling Equity income FVTOCI (4) translation operations hedges obligations Tax income income % MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Itaú Corredor de Seguro Colombia S.A. 20.200 % 409 15 — — — — — — — 15 Itaú Corpbanca Colombia S.A. y filiales (4) 33.721 % 217,673 (4,500) (664) 10,244 (1,195) — (254) 305 8,436 3,936 Itaú Corredores de Seguros S.A. (5) — % — 8 — — — — — — — 8 Totals 218,082 (4,477) (664) 10,244 (1,195) — (254) 305 8,436 3,959 (4) Financial instruments at FVOCI includes debt instruments for MCh$827 loss and equity instruments MCh$163 gain. (5) On April 1, 2018, the merger of Corpbanca Corredores de Seguro S.A. and Itaú Chile Corredora de Seguros Limitada through the absorption of this last entity in the first took place, being its new name Itaú Corredores de Seguros S.A. On September 10, 2018, Itaú Corpbanca acquired 127,901 shares from minority investors. As a result, the Bank and its subsidiaries own a 100% of the Company shares. Note 24 – Equity, continued (6) On December 10, 2018, Itaú Corpbanca acquired 1 share from minority investors. As a result, the Bank and its subsidiaries own a 100% of the Company shares. (7) On July 4, 2018, Itaú Asesorías Financieras acquired 2 shares from minority investors. As a result, the Bank and its subsidiaries own a 100% of the Company shares. The following table shows the non-controlling interest movements for the year ended December 31, 2020, 2019 and 2018: As of December 31, 2020 2019 2018 MCh$ MCh$ MCh$ Opening balances as of January 1, 94,445 218,082 217,280 Changes due to initial application of IFRS 9 — — (3,157) Restated opening balances as of January 1, 94,445 218,082 214,123 Increase participation in Colombia — (151,531) — Comprehensive income (25,358) 27,894 3,959 Ending balances as of December 31, 69,087 94,445 218,082 Details for the main subsidiary of Itaú Corpbanca with non-controlling interest are as follows: As of December 31, 2020 2019 Group Non-controlling Group Non-controlling Entity Name Country participation participation participation participation Itaú Corpbanca Colombia S.A. and subsidiaries Colombia 87.100 % 12.900 % 87.100 % 12.900 % Summarized financial information for the main subsidiary with non-controlling interest, is as follows: As of December 31, Summary Statements of Financial Position 2020 2019 MCh$ MCh$ Current assets 5,177,419 5,383,819 Current liabilities (3,184,281) (3,112,252) Net current assets (liabilities) 1,993,138 2,271,567 Non-current assets 856,927 1,174,958 Non-current liabilities (2,286,951) (2,729,714) Net non-current assets (liabilities) (1,430,024) (1,554,756) Total net assets (liabilities) 563,114 716,811 Accumulated non-controlling interest 68,683 93,967 For the years ended December 31, Summary Income Statements 2020 2019 MCh$ MCh$ Interest income and readjustments 418,477 528,150 Income for the year (101,498) 16,490 Non-controlling interests income (17,338) 10,713 Note 24 – Equity, continued For the years ended December 31, Summary Cash Flows Statements 2020 2019 MCh$ MCh$ Net cash flows provided by (used in) operating activities (109,188) (359,168) Net cash flows provided by (used in) investing activities 27,673 111,607 Net cash flows provided by (used in) financing activities 74,137 115,303 Net increase (decrease) in cash flows (7,378) (132,258) g) Consolidated comprehensive income for the years ended December 31, 2020, 2019 and 2018 hfs 2020 Equity holders Non-controlling Concepts of the Bank interest Totals MCh$ MCh$ MCh$ Income (loss) for the year (808,784) (17,371) (826,155) Other comprehensive income (loss) before income taxes Debt instruments at fair value through other comprehensive income (4,330) (3,905) (8,235) Hedge of net investment in foreign operations 80,722 — 80,722 Cash flows hedge (7,799) 2,117 (5,682) Exchange differences (64,169) (7,602) (71,771) Changes in the fair value of equity investments at fair value through other comprehensive income 310 46 356 Defined benefits obligation (1,632) 1,629 (3) Subtotals 3,102 (7,715) (4,613) Income taxes Debt instruments at fair value through other comprehensive income (55) 1,613 1,558 Hedge of net investment in foreign operations (21,795) — (21,795) Cash flows hedge (1,602) (1,432) (3,034) Defined benefits obligation 434 (453) (19) Subtotals (23,018) (272) (23,290) Other comprehensive loss for the year (19,916) (7,987) (27,903) Comprehensive loss for the year (828,700) (25,358) (854,058) 2019 Equity holders Non-controlling Concepts of the Bank interest Totals MCh$ MCh$ MCh$ Income (loss) for the year 113,684 10,838 124,522 Other comprehensive income (loss) before income taxes Debt instruments at fair value through other comprehensive income 21,025 678 21,703 Hedge of net investment in foreign operations (46,786) — (46,786) Cash flow hedge (6,381) (411) (6,792) Exchange differences 56,487 17,368 73,855 Changes in the fair value of equity investments at fair value through other comprehensive income 540 274 814 Defined benefits obligation (3,248) (1,184) (4,432) Subtotals 21,637 16,725 38,362 Income taxes Debt instruments at fair value through other comprehensive income (5,801) (125) (5,926) Hedge of net investment in foreign operations 14,373 — 14,373 Cash flow hedge (185) 23 (162) Defined benefits obligation 1,109 433 1,542 Subtotals 9,496 331 9,827 Other comprehensive income for the year 31,133 17,056 48,189 Comprehensive income for the year 144,817 27,894 172,711 Note 24 – Equity, continued 2018 Equity holders Non-controlling Concepts of the Bank interest Totals MCh$ MCh$ MCh$ Income (loss) for the year 171,331 (4,477) 166,854 Other comprehensive income (loss) before income taxes Debt instruments at fair value through other comprehensive income (614) (827) (1,441) Net investment in foreign operations hedges (35,338) (1,195) (36,533) Cash flow hedges 11,289 — 11,289 Exchange differences 38,366 10,244 48,610 Changes in the fair value of equity investments at fair value through other comprehensive income 319 163 482 Defined benefits obligations (500) (254) (754) Subtotals 13,522 8,131 21,653 Income taxes Debt instruments at fair value through other comprehensive income (1,468) (704) (2,172) Net investment in foreign operations hedges 9,541 1,024 10,565 Cash flows hedges (1,669) — (1,669) Defined benefits obligations (29) (15) (44) Subtotals 6,375 305 6,680 Other comprehensive income (loss) for the year 19,897 8,436 28,333 Comprehensive income (loss) for the year 191,228 3,959 195,187 |
Interest Income and Interest Ex
Interest Income and Interest Expense | 12 Months Ended |
Dec. 31, 2020 | |
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Interest Income and Interest Expense | Note 25 - Interest Income and Interest Expense This item comprises interest accrued in the year by all financial assets and liabilities, interest income and expenses, whose implicit or explicit performance is measured by applying the effective interest rate method, independently if these are measured at fair value, as well as the effects from accounting hedges, which are part of the interest income and expenses included in the Consolidated Statement of Income (Loss) for the year. a) The composition of interest income and inflation-indexing for the years ended December 31, 2020, 2019 and 2018 is as follows: For the years ended December 31, 2020 2019 2018 Inflation Inflation Inflation Interest adjustments (1) Totals Interest adjustments (1) Totals Interest adjustments (1) Totals MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Investments under agreements to resell 3,567 — 3,567 4,996 (2) 4,994 4,988 — 4,988 Interbank loans 1,541 — 1,541 4,361 — 4,361 5,013 — 5,013 Commercial loans 732,791 116,425 849,216 850,212 119,461 969,673 816,193 115,468 931,661 Mortgage loans 189,833 116,993 306,826 202,945 107,352 310,297 196,598 107,364 303,962 Consumer loans 323,836 130 323,966 379,030 135 379,165 372,148 194 372,342 Financial investments 58,083 20,955 79,038 79,114 15,539 94,653 101,274 19,060 120,334 Other interest income 7,624 1,821 9,445 17,588 2,543 20,131 10,882 9,850 20,732 Gain (loss) from accounting hedges (*) 25,980 (49,905) (23,925) (9,634) — (9,634) (19,715) — (19,715) Totals 1,343,255 206,419 1,549,674 1,528,612 245,028 1,773,640 1,487,381 251,936 1,739,317 b) For the years ended December 31, 2020, 2019 and 2018, the detail of the amount of interest and inflation-indexation adjustment expense is as follows: For the years ended December 31, 2020 2019 2018 Inflation Inflation Inflation Interest adjustments (1) Totals Interest adjustments (1) Totals Interest adjustments (1) Totals MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Deposits and other demand liabilities (46,530) (312) (46,842) (52,181) (220) (52,401) (49,536) (141) (49,677) Obligations under repurchase agreements (8,621) (1) (8,622) (26,349) — (26,349) (29,660) (4) (29,664) Time deposits and other time liabilities (254,633) (7,764) (262,397) (369,048) (8,560) (377,608) (370,206) (15,528) (385,734) Interbank borrowings (55,541) — (55,541) (81,557) — (81,557) (69,054) (206) (69,260) Debt instruments issued (200,911) (129,539) (330,450) (212,346) (130,127) (342,473) (199,420) (122,832) (322,252) Other financial liabilities (215) — (215) (501) — (501) (752) — (752) Lease obligations (4,923) 4 (4,919) (5,034) (92) (5,126) — — — Other Interest expense (84) (7,543) (7,627) (79) (3,227) (3,306) (397) (4,292) (4,689) Gain (loss) from hedge accounting (*) 33,376 — 33,376 16,099 — 16,099 10,374 — 10,374 Totals (538,082) (145,155) (683,237) (730,996) (142,226) (873,222) (708,651) (143,003) (851,654) (1) The inflation indexation adjustment is the result of changes in the Unidades de Fomento (“UF”). The UF is an inflation-index Chilean monetary unit with a value in Chilean pesos that changes daily to reflect changes in the Official Consumer Price Index (“CPI”) of the Instituto Nacional de Estadísticas (the Chilean National Institute of Statistics) for the previous month. The effect of any changes in the nominal peso value of our UF-denominated interest earning assets and interest bearing liabilities is reflected in our results of operations as an increase (or decrease, in the event of deflation) in interest income and expense respectively. (*) The mark to market adjustments are presented in this line for hedging derivatives used in hedging of assets except in the case of foreign currency hedges and cash flow hedges (cross-currency), their all-in mark to market adjustment is included in the foreign exchange gain (losses) (see Note 28 “Net foreign exchange income (losses)”). |
Fee and Commission Income and E
Fee and Commission Income and Expense | 12 Months Ended |
Dec. 31, 2020 | |
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Fee and Commission Income and Expense | Note 26 - Fee and Commission Income and Expense This item comprises the amount of all commissions accrued and paid in the year, except for those that form an integral part of the effective interest rate of the financial instruments. a) Fee and commission income This item comprises the financial income for the year corresponding to remunerations generated by the services rendered by the Bank and its subsidiaries and corresponds to the following items: For the years ended December 31, 2020 2019 2018 MCh$ MCh$ MCh$ Fees and commissions from lines of credits and overdrafts 1,990 1,553 5,292 Fees and commissions from guarantees and letters of credit 20,043 15,147 15,317 Fees and commissions from card services 58,359 75,574 72,932 Fees and commissions from accounts management 12,438 15,406 11,512 Fees and commissions from collections and payments 24,419 23,921 20,359 Fees and commissions from brokerage and securities management 9,365 9,844 10,966 Fees and commissions from asset management 23,086 25,845 24,718 Compensation for insurance brokerage 30,097 35,783 36,693 Investment banking and advisory fees 7,471 20,657 19,403 Fees and commissions from student loans ceded 5,639 5,735 5,300 Commissions on loan transactions 742 893 651 Commissions for mortgage loans 39 1,300 1,486 Other fees from services rendered 6,838 10,321 10,982 Other commissions earned 3,852 2,217 2,345 Totals 204,378 244,196 237,956 b) Fee and commission expense This item includes expenses for commissions accrued during the year from operations, and corresponds to the following items: For the years ended December 31, 2020 2019 2018 MCh$ MCh$ MCh$ Compensation for cards transactions (38,822) (55,232) (35,676) Fees and commissions for securities transactions (4,660) (2,716) (2,963) Commissions paid for foreign trade transactions (2,438) (2,300) (2,550) Commissions paid for customer loyalty program benefits (11,082) (3,725) (2,607) Commissions paid for services to customers management (1,808) (3,905) (3,455) Other commissions paid (4,569) (1,914) (4,576) Totals (63,379) (69,792) (51,827) Commissions earned on loans with mortgage finance bonds are recorded in the Consolidated Statement of Income (Loss) under “Interest income.” Note 26 - Fee and Commission Income and Expense, continued c) Below are the income and expenses for commissions generated by segment and the revenue recognition calendar for ordinary activities, for the year ended December 31, 2020 according to IFRS 15. Revenue recognition calendar Segments for ordinary activities Transferred Transferred at a point in Accrual Chile Colombia Total over time time model MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Fees and commissions from lines of credits and overdrafts 1,870 120 1,990 1,990 — — Fees and commissions from guarantees and letters of credit 16,077 3,966 20,043 20,043 — — Fees and commissions from card services 35,234 23,125 58,359 — 58,359 — Fees and commissions from accounts management 10,906 1,532 12,438 — 12,438 — Fees and commissions from collections and payments 12,244 12,175 24,419 — 10,500 13,919 Fees and commissions from brokerage and securities management 4,375 4,990 9,365 — 9,365 — Fees and commissions from asset management 12,641 10,445 23,086 — 23,086 — Compensation for insurance brokerage 29,025 1,072 30,097 — 1,072 29,025 Investment banking and advisory fees 7,237 234 7,471 223 7,248 — Fees and commissions from student loans ceded 5,639 — 5,639 — 5,639 — Commissions on loan transactions 616 126 742 — 742 — Commissions for mortgage loans 39 — 39 — 39 — Other commissions earned 6,371 4,319 10,690 — 10,690 — Totals 142,274 62,104 204,378 22,256 139,178 42,944 Revenue recognition calendar Segments for ordinary activities Transferred Transferred at a point in Accrual Chile Colombia Total over time time model MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Compensation for cards transactions (17,687) (21,135) (38,822) — (38,822) — Fees and commissions for securities transactions (3,604) (1,056) (4,660) — (4,660) — Commissions paid for foreign trade transactions — — — — — — Commissions paid for customer loyalty program benefits — — — — — — Commissions paid for services to customers management — — — — — — Other commissions paid (12,843) (7,054) (19,897) — (19,897) — Totals (34,134) (29,245) (63,379) — (63,379) — |
Net Income (Expense) from Finan
Net Income (Expense) from Financial Operations | 12 Months Ended |
Dec. 31, 2020 | |
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Net Income (Expense) from Financial Operations | Note 27 - Net Income (Expense) from Financial Operations This item includes the amount of changes in the fair value of financial instruments, except those attributable to interest accrued by applying the effective interest rate method, as well as the results obtained in the purchase and sale thereof. Net income (expense) from financial operations in the Consolidated Statements of Income for the year is as follows: For the years ended December 31, 2020 2019 2018 MCh$ MCh$ MCh$ Trading instruments (securities) 23,696 17,287 2,527 Financial derivative contracts (trading) 40,714 77,040 152,732 Sale of loans and accounts receivable from customers (*) 6,476 14,588 1,602 Net gain on sale of financial instruments at fair value through other comprehensive income 58,092 35,489 13,765 Net result of ineffectiveness and discontinuation of hedge accounting (19,890) (2,597) — Others 1,799 1,827 2,129 Totals 110,887 143,634 172,755 (*) See details Note 10, letter d. |
Net Foreign Exchange Gain (Loss
Net Foreign Exchange Gain (Loss) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [Abstract] | |
Net Foreign Exchange Gain (Loss) | Note 28 - Net Foreign Exchange Gain (Loss) This item includes the income earned from foreign currency trading, differences arising from converting monetary items in a foreign currency to the functional currency, and those generated by non-monetary assets in foreign currency at the time of their disposal. Net foreign exchange gains (losses) details are as follows: For the years ended December 31, 2020 2019 2018 MCh$ MCh$ MCh$ Net foreign exchange gain (loss) Gain (loss) on net foreign currency exchange positions (50,822) 37,404 (64,278) Other foreign currency exchange gains (losses) 2,651 4,128 5,421 Subtotals (48,171) 41,532 (58,857) Net exchange rate adjustments gain (loss) Adjustments for loans and accounts receivable from customers (538) 702 93 Adjustment for investment instruments — — 105 Adjustment for other assets and liabilities (4) 2 (322) Net gain (loss) from hedge accounting (25,751) (14,610) 41,016 Subtotals (26,293) (13,906) 40,892 Totals (74,464) 27,626 (17,965) |
Provisions for Impairment of Fi
Provisions for Impairment of Financial Assets | 12 Months Ended |
Dec. 31, 2020 | |
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Provisions for Impairment of Financial Assets | Note 29 - Provisions for Impairment of Financial Assets The movement registered in income for the year related to allowances and impairment due to credit risk, for the year ended December 31, 2020 and 2019, is summarized as follows: Financial Financial Interbank Loans and accounts receivable from customers at amortized cost instruments at instruments at Contingent 2020 loans Commercial Mortgage Consumer FVTOCI amortized cost loans Totals MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Loss for provisions established (10) (541,857) (27,516) (223,664) (250) (86) (16,366) (809,749) Income for provisions released 218 173,955 9,667 86,312 1,649 9 10,861 282,671 Recovery of loans previously charged-off — 25,511 2,558 32,779 — 60,848 Net charge to income 208 (342,391) (15,291) (104,573) 1,399 (77) (5,505) (466,230) Financial Financial Interbank Loans and accounts receivable from customers at amortized cost instruments at instruments at Contingent 2019 loans Commercial Mortgage Consumer FVTOCI amortized cost loans Totals MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Loss for provisions established (507) (423,043) (35,031) (279,002) (2,223) (9) (25,577) (765,392) Income for provisions released 765 178,243 9,102 89,247 19 — 46,673 324,049 Recovery of loans previously charged-off — 22,213 2,791 33,661 — — — 58,665 Net charge to income 258 (222,587) (23,138) (156,094) (2,204) (9) 21,096 (382,678) Financial Financial Interbank Loans and accounts receivable from customers at amortized cost instruments at instruments at Contingent 2018 loans Commercial Mortgage Consumer FVTOCI amortized cost loans Totals MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Loss for provisions established (344) (634,886) (78,185) (562,620) (25) — (14,511) (1,290,571) (*) Income for provisions released 131 474,192 78,873 380,294 411 50 28,354 962,305 (*) Recovery of loans previously charged-off — 19,921 2,588 25,959 — — — 48,468 Net charge to income (213) (140,773) 3,276 (156,367) 386 50 13,843 (279,798) (*) For the years ended December 31, 2020 2019 2018 MCh$ MCh$ MCh$ Charge to income for provisions established 809,749 765,392 1,290,571 Credit to income for provisions used (282,671) (324,049) (962,305) 527,078 441,343 328,266 Note 29 - Provisions for Impairment of Financial Assets, continued The detail by type of loans, analyzed collectively and individually, which were constituted and released by way of provision, is as follows: As of December 31, 2020 Note Provision established Provision released Totals MCh$ MCh$ MCh$ Commercial (541,857) 173,955 (367,902) Mortgage (27,516) 9,667 (17,849) Consumer (223,664) 86,312 (137,352) Subtotals 10 (793,037) 269,934 (523,103) Interbank loans, net 9 (10) 218 208 Totals (793,047) 270,152 (522,895) As of December 31, 2019 Note Provision established Provision released Totals MCh$ MCh$ MCh$ Commercial (423,043) 178,243 (244,800) Mortgage (35,031) 9,102 (25,929) Consumer (279,002) 89,247 (189,755) Subtotals 10 (737,076) 276,592 (460,484) Interbank loans, net 9 (507) 765 258 Totals (737,583) 277,357 (460,226) As of December 31, 2018 Provisions established Note Provision established Provision released Totals MCh$ MCh$ MCh$ Commercial (634,886) 474,192 (160,694) Mortgage (78,185) 78,873 688 Consumer (562,620) 380,294 (182,326) Subtotals 10 (1,275,691) 933,359 (342,332) Interbank loans, net 9 (344) 131 (213) Totals (1,276,035) 933,490 (342,545) |
Personnel Salaries and Expenses
Personnel Salaries and Expenses | 12 Months Ended |
Dec. 31, 2020 | |
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Personnel Salaries and Expenses | Note 30 - Personnel Salaries and Expenses Personnel salaries expenses for the years ended December 31, 2020, 2019 and 2018 are broken down as follows: For the years ended December 31, 2020 2019 2018 MCh$ MCh$ MCh$ Personnel compensation (185,677) (181,431) (176,083) Bonuses or gratifications (68,154) (82,129) (84,754) Compensation for years of service (17,292) (12,830) (12,477) Training expenses (931) (825) (804) Health and life insurance (2,831) (2,910) (2,590) Other personnel expenses (17,306) (18,084) (18,039) Totals (292,191) (298,209) (294,747) |
Administrative Expenses
Administrative Expenses | 12 Months Ended |
Dec. 31, 2020 | |
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Administrative Expenses | Note 31 - Administrative Expenses For the years ended as of December 31, 2020, 2019 and 2018, the composition of this item is as follows: For the years ended December 31, 2020 2019 2018 MCh$ MCh$ MCh$ Administrative expenses (181,514) (177,919) (214,666) Maintenance and repair of fixed assets (32,637) (35,213) (31,673) Office lease — — (36,201) Equipment lease — — (2,925) Insurance payments (17,428) (16,389) (20,704) Office supplies (1,756) (1,679) (1,885) IT and communications expenses (53,839) (47,878) (43,667) Utilities and other services (3,931) (4,558) (4,443) Security and transportation of securities services (6,754) (5,232) (5,250) Representation and personnel travel expenses (1,263) (3,345) (3,612) Legal and notarial expenses (21,675) (20,384) (15,112) Technical report fees (13,180) (13,647) (11,626) Professional services fees (1,629) (1,656) (1,825) Fees for classification of titles — — (134) Fines (133) (1,947) (6,059) ATM maintenance and management services (2,460) (2,436) (2,630) Temporary external services (372) (1,032) (545) Postage and mailing expenses (1,752) (1,110) (1,341) Internal events (330) (648) (248) Commercial programs (706) (1,246) (1,242) Credit card management services (1,180) (4,051) (3,102) Other administrative expenses (20,489) (15,468) (20,442) Subcontracted services (28,539) (22,134) (22,303) Data processing (10,929) (12,990) (13,044) Products sales (865) — (275) Others (16,745) (9,144) (8,984) Board of Directors compensation (1,310) (1,350) (1,529) Marketing and advertising (11,914) (13,353) (14,384) Real estate taxes, contributions and levies (34,476) (34,125) (38,854) Real estate taxes (347) (286) (393) Patents (1,353) (1,206) (1,121) Other taxes (*) (23,660) (24,467) (29,324) Contributions to CMF (9,116) (8,166) (8,016) Totals (257,753) (248,881) (291,736) (*) These amounts primarily correspond to taxes other than income taxes that affect Itaú Corpbanca Colombia and its subsidiaries (Colombian segment). These are taxes on local financial transactions, ongoing performance of commercial activities or services, non-discountable value added tax and equity tax, among others. |
Depreciation, Amortization, and
Depreciation, Amortization, and Impairment | 12 Months Ended |
Dec. 31, 2020 | |
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Depreciation, Amortization, and Impairment | Note 32 - Depreciation, Amortization, and Impairment a) Depreciation and amortization The amounts corresponding to charges to results for depreciation and amortization for the years ended December 31, 2020, 2019 and 2018, are detailed below: For the years ended December 31, Notes 2020 2019 2018 MCh$ MCh$ MCh$ Depreciation of property, plant and equipment 14 (21,826) (21,169) (20,659) Amortization of intangible assets 13 (74,625) (74,140) (66,158) Depreciation of assets for right to use of assets 15 (29,993) (31,857) — Totals (126,444) (127,166) (86,817) b) Impairment For the years ended December 31, 2020, 2019 and 2018, the composition of this item is as follows: For the years ended December 31, 2020 2019 2018 MCh$ MCh$ MCh$ Impairment of financial investments at FVOCI — — — Impairment of financial investments at amortized cost — — — Subtotal financial assets — — — Impairment of intangible assets (1) (38,849) — — Impairment of intangibles generated in business combinations (2) (113,911) — — Impairment of goodwill (3) (651,825) — — Impairment of property, plant and equipment (4) (5) (6) (10,294) (728) (28) Subtotal Non-financial assets (814,879) (728) (28) Totals (814,879) (728) (28) (1) Impairment of intangibles due to the integration of the systems in Chile: MCh$31,426 for systems and MCh$3,098 for projects. Also includes deterioration of systems and software in Colombia of MCh$4,325. (2) Impairment of intangibles generated in business combinations includes MCh$113,138 from Itaú Corpbanca Colombia and MCh$773 from Itaú Corredor de Seguros Colombia. (3) Impairment of Goodwill for MCh$412,356 in Chile CGU and MCh$239,469 in Colombia CGU. (4) Impairment of ATM equipment for MCh$24. (5) Impairment of fixed assets due to restructuring plan for MCh$867. (6) Impairment of improvements in leased properties due to restructuring due to the restructuring plan for MCh$9,403. The Bank has defined two CGUs: CGU Chile (Itaú Corpbanca and its Chileans subsidiaries and subsidiary allocated in New York) and CGU Colombia (Itaú Corpbanca Colombia and its subsidiaries and Itaú Corredores de Seguros S.A.). These CGUs were defined based on their main geographic areas. Their cash flow generation and performance are analyzed separately by the Executive Committee (C-suite) because their contributions to the consolidated entity may be identified independently. It is worth mentioning that these CGUs are consistent with the Bank’s operating segments (see Note 4). Note 32 - Depreciation, Amortization, and Impairment, continued Carrying amount of these CGUs, in a pre-taxes basis before impairment losses recognition, is as follows: As of June 30, As of December 31, CGU 2020 2019 MCh$ MCh$ Chile 2,261,620 2,366,517 Colombia 942,653 959,821 (*) b.1) Impairment test results and impairment losses recognition as of June 30, 2020 i) Impairment test results As a consequence of the aforementioned impairment evaluation process, Management concludes that the recoverable amount and carrying amounts ratio of the CGUs as of June 30, 2020 is as follows: As of June 30, 2020 Main assumptions Chile Colombia Recoverable Amount / Carrying Value (%) The recoverable amount for each CGU corresponds to the value in use, the higher of the fair value less costs to sell and the value in use. ii) Assumptions used in calculations of the recoverable amount The key assumptions used in calculating the recoverable amount, defined as those to which the calculation is most sensitive, are presented below: As of June 30, 2020 2020 Chile Colombia Perpetuity rate (%) 5.20 6.50 Projected inflation rate (%) 3.00 3.00 Discount rate (%) 10.40 12.31 Loans growth (%) 5.67 - 7.41 6.25 - 8.82 Solvency index limit (%) 10.81 - 12.12 10.00 - 11.70 Note 32 - Depreciation, Amortization, and Impairment, continued iii) Impairment loss recognition As a result of the recent development of events described in Note 3 “Significant events”, recoverable amount for the CGUs was estimated at the end of the second quarter of 2020, resulting in the recognition of an impairment loss of Ch$765,736 million (Ch$731,189 net of deferred taxes) on the following assets of the respective CGUs as of June 30, 2020: Impairmente of intangible assets (1) CGU Chile CGU Colombia Totals MCh$ MCh$ MCh$ Goodwill impairment loss (412,356) (239,469) (651,825) Intangibles assets generated in a business combination impairment loss — (113,911) (113,911) Total impairment of Chile and Colombia CGUs (412,356) (353,380) (765,736) (1) As reported in 2016 in the original recognition of the business combination between Banco Itaú Chile and Corpbanca, as described in Note 1, resulted in a registration of a goodwill not deductible for income tax purposes, therefore, the recognition of impairment loss does not generate effects on tax results. On the other hand, the intangibles assets generated in the business combination had an associated deferred tax liability of Ch$34,547 million, which generated an impact on income tax results equivalent to that amount, by recognizing the impairment. Considering the above, the effect on income net of taxes generated by the recognition of the impairment loss amounts to Ch$731,189 million, distributed between Ch$720,951 million attributable to the owners of the Bank and Ch$10,238 million attributable to non-controlling interest . As of December 31, 2020, the Bank has updated the impairment test in order to determine the impairment at the end of this fiscal year and concluded that there was no need to record an additional goodwill impairment loss. b.2) Goodwill impairment test as of December 31, 2020 i) Goodwill allocation The Goodwill allocated to each of the identified CGUs 1 generated in the reverse acquisition described in Note 1, section “General Information – Background of Itaú Corpbanca and subsidiaries”, and the movements experienced during the year, are presented below: Goodwill Chile CGU Colombia CGU MCh$ MCh$ Opening balances as of January 1, 2020 904,868 235,159 Exchange differences — 4,310 Impairment (1) (412,356) (239,469) Ending balances as of December 31, 2020 492,512 — (1) Goodwill generated by the acquisition of a business combination (Colombia) is expressed in the functional currency of the aforementioned business (Colombian peso), converted at the closing exchange rate (exchange rate COP to Ch$ for the purpose of accounting recognition in Chile) in accordance with IAS 21 "Effects of Changes in Exchange Rates of the Foreign Currency" (see Note 13). Figures presented as of June 30, 2020 have been adjusted to their recoverable amount, recognizing an impairment loss in accordance with the aforementioned information. Note 32 - Depreciation, Amortization, and Impairment, continued ii) Methodology used by the Bank Consistent with the prior year, the recoverable amounts of Chile CGU and Colombia CGU have been determined using the dividend discount model. This methodology considers the cash flows that would be generated by dividends distributed to shareholders at perpetuity, discounted to their cost of capital rate as of the valuation date. Therefore, the economic value of equity can be estimated using cash flow projections derived from financial budgets and other assumptions approved by management. In testing goodwill for impairment, management considered different sources of information, including: · Historical information existing for both Banks post-merger and, if relevant, pre-merger. Historical information for events assessed as one-time and non-recurring was excluded. · Assumptions approved by management. · Information from external sources such as analyst reports, regulators, central Banks and press releases. · Observable market information such as rate curves, inflation and growth projections. · The competitive strategy defined for both Banks. The projected funding structure and its impact on the Bank’s capital requirements and internal policy iii) Key assumptions used in calculating the recoverable amount. The key assumptions used in calculating recoverable amount, defined as those variables to which the calculation is more sensitive, are presented below: As of December 31, 2020 2019 Chile Colombia Chile Colombia Perpetuity rate (%) 5.20 — 5.20 6.50 Projected inflation rate (*) (%) 3.00 — 3.00 3.00 Discount rate (%) 9.50 — 10.00 11.30 Loans growth (%) 7.00 – 10.00 — 9.05 – 10.28 9.70 – 10.30 Solvency index limit (%) 12.77– 13.11 — 11.40 – 12.40 10.60 – 14.00 (*) Corresponds to the long-term projected inflation rate. · Period of Projection and Perpetuity When performing the goodwill impairment in 2020, cash flow projections are prepared for a period of 5 years from 2020 to 2025. After this period, the present value of cash flows for the year 2024 are calculated, projected to perpetuity using GDP growth rates expected for the markets in which the aforementioned CGUs operate. Note 32 - Depreciation, Amortization, and Impairment, continued · Loans and deposits Loans were projected considering an increase of around 7.3% per year in Chile. Anticipated changes in the product mix were also modeled for both countries. The deposit portfolio was projected using target reciprocity. · Income Interest and fee income were projected in line with loans, modeling interest rates and commissions expected for each portfolio and type of product. Other relevant macroeconomic variables were also considered such as inflation and base interest rates. · Costs of funding The cost projections are mainly determined based on demand deposits and term deposits balances, considering an annual average ratio of 3.7% for Chile and 4.0% for Colombia. In the cost of funding, the Bank models the impact of the aforementioned reciprocity strategy with no significant changes in the funding structure. · Discount rate Estimated as the discount rate of the Cost of Capital (Ke) in local currency, which was used to discount the cash flows of each CGU. This calculation considers a premium for the risk of the country for each CGU. · Perpetuity rate The perpetuity growth rates are aligned with the growth of the economy in both jurisdictions. Consequently, these were built considering local inflation and GDP growth projections · Dividend payment The payment of dividends was made by maximizing the cash flows of the shareholder taking as a restriction that the solvency indicator (ratio of technical equity with risk-weighted assets) does not fall below the minimum limits required by the regulatory entities. In this way, a dividend for the CGU of Chile of 30% for the first 5 years and 50% in perpetuity was considered. iv) Impairment test results As a result of the impairment test performed, Management concludes that the recoverable amount of the CGUs exceeds their carrying amount, as shown in the following table: As of December 31, 2020 2019 Chile Colombia Chile Colombia Recoverable Amount / Carrying Value (%) 137.80 — 121.38 107.09 The recoverable amount for each CGU corresponds to the value in use, the higher of the fair value less costs to sell and the value in use. Note 32 - Depreciation, Amortization, and Impairment, continued As of December 31, 2020, Management carried out an impairment test, concluding that the recoverable amount exceeds the carrying value, thus no further impairment is required, other than the impairment recorded as of June 30, 2020. v) Reconciliation between pre and post-tax basis The Bank has used the cost of own capital (Ke) rate as a discount rate in its calculation of the recoverable amount, a rate that is observable after taxes. The following table shows the effect of considering the flows and the discount rate before taxes. As of December 31, 2020 2019 Chile Colombia Chile Colombia Discount rates (%) 10.52 — Recoverable amount/Carrying value (%) 158.32 — |
Other Operating Income and Expe
Other Operating Income and Expenses | 12 Months Ended |
Dec. 31, 2020 | |
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Other Operating Income and Expenses | Note 33 - Other Operating Income and Expenses a) Other operating income The detail of other operating income is as follows: For the years ended December 31, 2020 2019 2018 MCh$ MCh$ MCh$ Income from assets received in lieu of payment Gain on sales of assets received in lieu of payment 3,287 5,449 8,562 Other income 30,622 13,163 30 Subtotals 33,909 18,612 8,592 Other income Compensations from insurance companies 693 6 53 Lease contracts related income 819 280 724 Gain on sale of property, plant and equipment 14 2,248 5,519 Recovery of leased assets 59 73 1,349 Other leasing transactions operating income, subsidiaries 4,604 3,020 2,158 Gain on sale of leased assets 688 1,914 1,447 Other operating income 933 432 199 Revenue from insurance companies agreement 1,537 4,538 3,626 Income from recovery of foreign expenses 895 747 620 Recoveries from expenses provisions 15,739 7,243 1,166 Other income 5,688 5,859 1,203 Subtotals 31,669 26,360 18,064 Totals 65,578 44,972 26,656 Note 33 - Other Operating Income and Expenses continued b) Other operating expenses During the years ended December 31, 2020, 2019 and 2018, the Bank presents other operating expenses according to the following detail : For the years ended December 31, 2020 2019 2018 MCh$ MCh$ MCh$ Provisions for assets received in lieu of payment (4,006) (18,062) (16,132) Maintenance expenses for assets received in lieu of payment (1,086) (1,663) (1,301) Subtotals (5,092) (19,725) (17,433) Provisions for contingencies Other provisions for contingencies (3,119) (507) (1,998) Subtotals (3,119) (507) (1,998) Other expenses Loss on sale of property, plant and equipment (145) (655) (307) Credit card loyalty point benefits expenses — — (14,306) Restructuring costs (7,190) — — Operating loss expenses (5,219) (17,468) (10,589) Insurance expense (law 20,027) (36,075) (802) (622) Provision expense for recovered leased assets (1,191) (3,105) (4,170) Expenses loss on sale of assets (16,262) (9,386) — Banking expenses (2,754) (1,932) (2,450) Fines and penalties (4,502) (2,454) (13,110) Loss on damaged assets — (696) (2,311) Other expenses (8,962) (4,819) (903) Subtotals (82,300) (41,317) (48,768) Totals (90,511) (61,549) (68,199) |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2020 | |
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Related Party Transactions | Note 34 - Related Party Transactions In accordance with the provisions set forth in the Chilean General Banking Law and the instructions issued by the CMF, related parties are those individuals or corporations related to the ownership or management of the Institution directly or through third parties. Article 89 of the Ley de Sociedades Anónimas (Chilean Companies Law), which also applies to Banks, establishes that any transaction with a related party must be carried out on an arm’s length basis. In the case of sociedades anónimas abiertas (publicly traded companies) and their subsidiaries, transactions with related parties involve any negotiation, act, contract or transaction in which the company must intervene; the following are considered as parties related to them: those entities of the corporate group to which the company belongs; the corporations that, with respect to the company, have the status as parent, controlling entity, affiliate, subsidiary; the Directors, Managers, Administrators, Chief Executive Officer or Liquidators of the company, acting in their own names or on behalf of individuals other than the company, and their respective spouses or their relatives up to the second degree of consanguinity, as well as any entity controlled either directly or indirectly, through any of them; and any person who either acting individually or jointly with others with whom it has executed a joint operation agreement, may appoint at least one member of the management of the company or controls 10% or more of its capital stock, with the right to vote, in the case of a sociedad por acciones (stock corporation); those established by the bylaws of the company, or justifiably identified by the Directors’ Committee; and those in which it has acted as Director, Manager, Administrator, Chief Executive Officer or Liquidator of the company, during the last eighteen months. Article 147 of the Ley de Sociedades Anónimas (Chilean Companies Law) sets forth that a sociedad anónima abierta (publicly traded company) may only carry out transactions with related parties when they are intended to contribute to the corporate interest, are adjusted in the price, terms and conditions to those prevailing in the market at the time of their approval and comply with the requirements and the procedure indicated by it. Moreover, Article 84 of the Chilean General Banking Law establishes limits for the loans that may be granted to related parties and the prohibition to grant loans to the Directors, Managers or General Attorneys of the Bank a) Loans granted to related parties As of December 31, 2020 and 2019, the loans granted to related persons are detailed below : As of December 31, 2020 As of December 31, 2019 Productive Investment Productive Investment companies companies Individuals companies companies Individuals MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Loans and accounts receivable from customers Commercial loans 150,796 10,037 6,517 109,840 11,910 5,054 Mortgage loans — — 30,124 — — 29,419 Consumer loans — — 7,189 — — 8,987 Gross loans and accounts receivable from customers 150,796 10,037 43,830 109,840 11,910 43,460 Allowance for loan losses (6,333) (885) (348) (1,705) (134) (283) Loans and receivables to customers, net 144,463 9,152 43,482 108,135 11,776 43,177 Note 34 - Related Party Transactions, continued b) Other transactions and contracts with related parties Below are the balances as of December 31, 2020 and 2019, for transactions with related parties and the impact on results for the years ended December 31, 2020 and 2019: As of and for the year ended December 31, 2020 Balances receivable Effect on income (loss) Name or Corporate Name Description (payable) Income Expense MCh$ MCh$ MCh$ Adexus S.A. Data transmission services — — (8) Bcycle Latam SPA Administrative consulting — — (2,165) CAI Gestion Inmobiliaria S.A. Department stores — — — Combanc S.A. Data transmission services — — (472) Comder Contraparte Central S.A Banking services — — (826) Compañía Chilena de Televisión S.A. Tv broadcasting services — — (8) Corp Group Holding Inversiones Limitada Advisory services — — (537) Corp Imagen y diseños S.A. Marketing — — — Corp Research S.A. Advisory services — — — Hotel Corporation of Chile S.A. Hotel, events — — (8) Inmetrics Chile S.A Other services — — (1,470) Inmobiliaria Edificio Corpgroup S.A. Office lease and building fees (*) (14,175) — (4,693) Inmobiliaria Gabriela S.A Other services (708) — (128) Inversiones Corp Group Interhold Ltda. Administrative consulting — — (2,613) Itaú Chile Cía. de Seguros de Vida S.A. Life insurance — — — Itaú Chile Inv. Serv. y Administración S.A. Leases (*) (198) — (1,143) Itaú Unibanco Business management reimbursement 1,549 2,213 — Operadora de Tarjeta de Crédito Nexus S.A. Credit card management — — (3,319) Pulso Editorial S.A. Publishing services — — (24) Redbanc S.A. ATM management — — (3,094) SMU S.A., Rendic Hnos. S.A. Lease of ATM (Note 17) 991 — (2,388) Transbank S.A. Credit card management — — (13,177) These transactions were carried out at normal market prices prevailing on the date of the transactions. Note 34 - Related Party Transactions, continued As of and for the year ended December 31, 2019 Balances receivable Effect on income (loss) Name or Corporate Name Description (payable) Income Expense MCh$ MCh$ MCh$ Adexus S.A. Data transmission services — — (567) Bcycle Latam SPA Administrative consulting — — (1,518) CAI Gestion Inmobiliaria S.A. Department stores — — (3) Combanc S.A. Data transmission services — — (366) Comder Contraparte Central S.A Banking services — — (910) Compañía Chilena de Televisión S.A. Tv broadcasting services — — (47) Corp Group Holding Inversiones Limitada Advisory services — — (382) Corp Imagen y diseños S.A. Marketing — — (101) Corp Research S.A. Advisory services — — (474) Hotel Corporation of Chile S.A. Hotel, events — — (39) Inmobiliaria Edificio Corpgroup S.A. Office lease and building fees (*) (15,625) — (1,994) Inmobiliaria Gabriela S.A Other services (809) — (121) Inversiones Corp Group Interhold Ltda. Administrative consulting — — (2,537) Itaú Chile Cía. de Seguros de Vida S.A. Life insurance — 46 (248) Itaú Chile Inv. Serv. y Administración S.A. Leases (*) (441) — (220) Itaú Unibanco Business management reimbursement 349 2,051 — Operadora de Tarjeta de Crédito Nexus S.A. Credit card management — — (3,037) Pulso Editorial S.A. Publishing services — — (23) Redbanc S.A. ATM management — — (3,388) SMU S.A., Rendic Hnos. S.A. Lease of ATM (Note 17) 3,379 — (2,319) Transbank S.A. Credit card management — — (14,208) (*) Note 34 - Related Party Transactions, continued As of and for the year ended December 31, 2018 Balances receivable Effect on income (loss) Name or Corporate Name Description (payable) Income Expense MCh$ MCh$ MCh$ Adexus S.A. Data transmission services — — (254) Bcycle Latam SPA Administrative consulting — — (4,048) Bolsa de Comercio de Santiago Other services — — (204) CAI Gestion Inmobiliaria S.A. Department stores — — (103) Combanc S.A. Data transmission services — — (350) Comder Contraparte Central S.A Banking services — — (902) Corp Group Holding Inversiones Limitada Advisory services — — (408) Corp Imagen y diseños S.A. Marketing — — (99) Corp Research S.A. Advisory services — — (463) Everis Chile S.A. Advisory services — — (906) Hotel Corporation of Chile S.A. Hotel, events — — (94) Inmobiliaria Edificio Corpgroup S.A. Office lease and building fees — — (4,693) Instituto de Estudios Bancarios Guillermo Subercaseaux Education services — — (121) Inversiones Corp Group Interhold Ltda. Administrative consulting — — (2,476) Itaú Chile Cía. de Seguros de Vida S.A. Life insurance — 93 (706) Itaú Chile Inv. Serv. y Administración S.A. Leases — 204 (141) Operadora de Tarjeta de Crédito Nexus S.A. Credit card management — — (2,909) Pulso Editorial S.A Publishing services — — (471) Redbanc S.A. ATM management — — (3,002) SMU S.A., Rendic Hnos. S.A. Lease of ATM (Note 17) 5,698 — (2,262) Transbank S.A. Credit card management — — (15,469) VIP Asesorias y Servicios Integrales Ltda. Advisory services — — (129) These transactions were carried out at normal market prices prevailing at the day of the transactions. c) Donations For the years ended December 31, Name or corporate name Description 2020 2019 2018 MCh$ MCh$ MCh$ Fundación Corpgroup Centro Cultural Donations 1,556 1,325 1,225 Fundación Descúbreme Donations 235 194 Fundación Itaú Donations 196 170 157 d) Other assets and liabilities with related parties. As of December 31, 2020 2019 MCh$ MCh$ ASSETS 34,416 28,474 Derivative financial instruments 33,875 27,458 Other assets 541 1,016 LIABILITIES 447,306 420,273 Derivative financial instruments 2,778 1,565 Current accounts and demand deposits 179,067 34,416 Time deposits and saving accounts 239,709 354,794 Other liabilities 25,752 29,498 Note 34 - Related Party Transactions, continued e) Results of transactions with related parties For the years ended December 31, 2020 2019 2018 Type of recognized income or expense Income Expenses Income Expenses Income Expenses MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Interest and readjustments income (expenses) 8,532 (4,955) 11,269 (7,328) 3,748 (2,970) Fee and commissions income and (expenses) 504 — 3,232 — 829 — Net income (loss) from financial operations 26,636 (10,033) 2,585 (888) 1,146 (501) Operational support related income 500 — 901 — 1,075 — Other income and (expenses) 211 (310) 207 (327) 84 (222) Totals 36,383 (15,298) 18,194 (8,543) 6,882 (3,693) f) Payments to Board members and key management personnel. Compensation received by key personnel of Management as follow: As of December 31, 2020 2019 2018 MCh$ MCh$ MCh$ Short-term employee benefits 31,868 31,364 31,892 Post-employment benefits — — — Other long-term benefits — — — Compensation for termination of contract 931 799 1,337 Totals 32,799 32,163 33,229 g) Key personnel As of December 31, 2020 and 2019, the headcount of the Bank's key staff is composed as follows: Number of executives As of December 31, Position 2020 2019 Board Member 14 14 Chief Executive Officer 10 10 Corporate Director 24 25 Area Manager 146 162 Manager 128 143 Note 34 - Related Party Transactions, continued h) Transactions with key personnel The next transactions has been realized during the years ended December 31, 2020 and 2019: As of December 31, 2020 2019 MCh$ MCh$ Credits cards 115 Consumer loans 389 Commercial loans 534 Mortgage loans 366 |
Fair Value of Financial Assets
Fair Value of Financial Assets and Liabilities | 12 Months Ended |
Dec. 31, 2020 | |
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Fair Value of Financial Assets and Liabilities | Note 35 - Fair Value of Financial Assets and Liabilities This disclosure was prepared based on the guidelines “Fair Value of Financial Instruments” from the IFRS 13 “Fair Value Measurements”. The following section details the main guidelines and definitions used by the Bank: Fair value: The price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (i.e. an exit price). The transaction is carried out in the principal 2 or most advantageous 3 market and is not forced (i.e. it does not consider factors specific to the Bank that may influence a real transaction). Market participants: Buyers and sellers in the principal (or most advantageous) market for the asset or liability that have all of the following characteristics: · They are independent of each other, i.e. they are not related parties as defined in IAS 24 “Related Party Disclosures,” although the price in a related party transaction may be used as an input to a fair value measurement if the entity has evidence that the transaction was entered into at market terms. · They are knowledgeable, having a reasonable understanding about the asset or liability and the transaction using all available information, including information that might be obtained through due diligence efforts that are usual and customary. · They are able to enter into a transaction for the asset or liability. · They are willing to enter into a transaction for the asset or liability (i.e. they are motivated, but not forced or otherwise compelled, to do so). Fair value measurement: When measuring fair value, the Bank takes into account the same characteristics of the asset or liability that market participants would consider in pricing that asset or liability on the measurement date. Aspects of the transaction: A fair value measurement assumes that the asset or liability is exchanged in an orderly transaction between market participants to sell the asset or transfer the liability at the measurement date under current market conditions. The measurement assumes that the transaction to sell the asset or transfer the liability takes place: (a) on the principal market for the asset or liability; or (b) in the absence of a principal market, on the most advantageous market for the asset or liability. Market participants: The fair value measurement measures the fair value of the asset or liability using the assumptions that the market participants would use in pricing the asset or liability, assuming that the participants act in their best economic interest. Prices: Fair value is the price that will be received for the sale of an asset or paid for the transfer of a liability in an orderly transaction on the main (or most advantageous) market as of the measurement date under current market conditions (i.e. exit price) regardless of whether that price is directly observable or estimated using another valuation technique. Note 35 - Fair Value of Financial Assets and Liabilities, continued Highest and best use of non-financial assets: The fair value measurement of these assets takes into account the market participant’s ability to generate economic benefits through the highest and best use of the asset or through the sale of the asset to another market participant that would maximize the value of the asset. Bank’s own liabilities and equity instruments: The fair value measurement assumes that these items are transferred to a market participant on the date of measurement. The transfer of these items assumes that: a) A liability would remain outstanding and the market participant transferee would be required to fulfill the obligation. The liability would not be settled with the counterparty or otherwise extinguished on the measurement date. b) An entity’s own equity instrument would remain outstanding and the market participant transferee would take on the rights and responsibilities associated with the instrument. The instrument would not be cancelled or otherwise extinguished on the measurement date. Default risk: The fair value of a liability reflects the effect of the default risk. This risk includes, but is not limited to, the entity’s own credit risk. This risk is assumed to be the same before and after the liability is transferred. Initial recognition: When an asset is acquired or a liability assumed in an exchange transaction involving that asset or liability, the transaction price is the price paid to acquire the asset or received to assume the liability (the entry price). In contrast, the fair value of the asset or liability is the price received to sell the asset or paid to transfer the liability (the exit price). Entities do not necessarily sell assets at the prices paid to acquire them. Likewise, they do not necessarily transfer liabilities at the price received to assume them. Valuation techniques: The Bank will use techniques that are appropriate for the circumstances and for which sufficient data is available to measure the fair value, maximizing the use of relevant observable inputs and minimizing the use of unobservable inputs. The following approaches deserve mention: a) Market approach . Uses prices and other relevant information generated by market transactions involving identical or comparable (similar) assets, liabilities, or a Bank of assets and liabilities (e.g. a business). b) Income approach . Converts future amounts (cash flows or income and expenses) to a single current (discounted) amount, reflecting current market expectations about those future amounts. The fair value measurement is determined based on the value indicated by the current market expectations about those future amounts. c) Cost approach . Reflects the amount that would be required currently to replace the service capacity of an asset (current replacement cost). Present value techniques: Technique to adjust the discount rate and expected cash flows (expected present value). The present value technique used to measure the fair value will depend on the specific facts and circumstances of the asset or liability being measured and the availability of sufficient data. Note 35 - Fair Value of Financial Assets and Liabilities, continued Components of the present value measurement: Present value is the tool used to link future amounts (e.g. cash flows or values) to a present amount using a discount rate. A fair value measurement of an asset or a liability using a present value technique captures all the following elements from the perspective of market participants at the measurement date: a) An estimate of future cash flows for the asset or liability being measured. b) Expectations about possible variations in the amount and timing of the cash flows representing the uncertainty inherent in the cash flows. c) The time value of money, represented by the rate on risk-free monetary assets that have maturity dates or durations that coincide with the period covered by the cash flows and pose neither uncertainty in timing nor risk of default to the holder (i.e. a risk-free interest rate). d) The price for bearing the uncertainty inherent in the cash flows (i.e. a risk premium). e) Other factors that market participants would take into account in the circumstances. f) For a liability, the non-performance risk relating to that liability, including the entity’s (i.e. the debtor’s) own credit risk. Fair value hierarchy : Gives the highest priority to quoted prices (unadjusted) in active markets for identical assets and liabilities (Level 1 inputs) and lowest priority to unobservable inputs (Level 3 inputs). Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. The following tables summarizes the fair values of the Bank’s main financial assets and liabilities as of December 31, 2020 and 2019, including those that are not recorded at fair value in the Consolidated Statement of Financial Position. Note 35 - Fair Value of Financial Assets and Liabilities, continued Determination of the fair value as of December 31, 2020 and 2019 As of December 31, 2020 Estimated fair value Book value Recurring Non-recurring (*) MCh$ MCh$ MCh$ ASSETS Cash and deposits in banks 3,089,072 — 3,089,072 Cash items in process of collection 173,192 — 173,192 Financial instruments at fair value through profit or loss 582,710 582,710 — Financial instruments at fair value through other comprehensive income 3,970,899 3,970,899 — Loans and accounts receivable at amortized cost 21,576,108 — 22,767,597 Financial instruments at amortized cost 111,542 — 110,608 Investments under resale agreements 105,580 — 105,580 Financial derivative contracts 3,982,803 3,982,803 — Interbank loans, net 7,121 — 7,121 Totals 33,599,027 8,536,412 26,253,170 LIABILITIES Deposits and other demand liabilities 6,197,406 — 6,197,406 Cash in process of being cleared 154,232 — 154,232 Obligations under repurchase agreements 638,851 — 638,851 Time deposits and other time liabilities 11,433,064 — 11,574,924 Financial derivative contracts 3,673,591 3,673,591 — Interbank borrowings 3,798,978 — 3,794,375 Debt instruments issued 6,204,856 — 7,330,126 Lease contract liabilities 151,885 — 164,304 Other financial liabilities 13,123 — 13,123 Totals 32,265,986 3,673,591 29,867,341 (*) Non-recurring items correspond to those line items that are carried at cost, but their corresponding fair value has been estimated for disclosure purposes only. Note 35 - Fair Value of Financial Assets and Liabilities, continued As of December 31, 2019 Estimated fair value Book value Recurring Non-recurring MCh$ MCh$ MCh$ ASSETS Cash and deposits in banks 1,009,681 — 1,009,681 Cash items in process of collection 231,305 — 231,305 Financial instruments at fair value through profit or loss 183,702 183,702 — Financial instruments at fair value through other comprehensive income 3,598,890 3,598,890 — Loans and accounts receivable at amortized cost 22,254,697 — 23,313,453 Financial instruments at amortized cost 115,658 — 114,175 Investments under resale agreements 75,975 — 75,975 Financial derivative contracts 3,154,957 3,154,957 — Interbank loans, net 56,396 — 56,396 Totals 30,681,261 6,937,549 24,800,985 LIABILITIES Deposits and other demand liabilities 4,873,448 — 4,873,448 Cash in process of being cleared 164,573 — 164,573 Obligations under repurchase agreements 559,457 — 559,457 Time deposits and other time liabilities 11,620,187 — 11,692,076 Financial derivative contracts 2,938,034 2,938,034 — Interbank borrowings 2,646,756 — 2,646,176 Debt instruments issued 6,408,356 — 7,244,551 Lease contract liabilities 172,924 — 175,263 Other financial liabilities 12,966 — 12,966 Totals 29,396,701 2,938,034 27,368,510 Note 35 - Fair Value of Financial Assets and Liabilities, continued Fair Value Measurements of assets and liabilities only for disclosure purposes (non-recurring) : As of December 31, Non-recurring fair value measurement 2020 2019 MCh$ MCh$ ASSETS Cash and deposits in banks 3,089,072 1,009,681 Cash items in process of collection 173,192 231,305 Loans and accounts receivable at amortized cost 22,767,597 23,313,453 Investments under resale agreements 105,580 75,975 Interbank loans, net 7,121 56,396 Financial instruments at amortized cost 110,608 114,175 Totals 26,253,170 24,800,985 LIABILITIES Deposits and other demand liabilities 6,197,406 4,873,448 Cash in process of being cleared 154,232 164,573 Obligations under repurchase agreements 638,851 559,457 Time deposits and other time liabilities 11,574,924 11,692,076 Interbank borrowings 3,794,375 2,646,176 Debt issued 7,330,126 7,244,551 Lease contract liabilities 164,304 175,263 Other financial obligations 13,123 12,966 Totals 29,867,341 27,368,510 The following section describes the methods used to estimate fair value: Cash, short-term assets and short-term liabilities The fair value of these items approximates their book value given their short-term nature. These items include: · Cash and deposits in Banks · Cash in the process of collection · Financial instruments at fair value through profit or loss · Checking accounts and demand deposits · Other financial obligations Loans The fair value of loans is determined using a discounted cash flow analysis, using a risk-free interest rate adjusted for expected losses from debtors based on their credit quality. The credit risk adjustment is based on the Bank’s credit risk policies and methodologies: These items include: · Interbank loans · Loans and receivables from customers Note 35 - Fair Value of Financial Assets and Liabilities, continued Financial instruments at amortized cost The estimated fair value of these financial instruments is determined using quotes and transactions observed in the main market for identical instruments, or in their absence, for similar instruments. Fair value estimates of debt instruments or securities representative of debt take into account additional variables and inputs to the extent that they apply, including estimates of prepayment rates and the credit risk of issuers. Medium and long-term liabilities The fair value of medium and long-term liabilities is determined using a discounted cash flow analysis, using an interest rate curve that reflects current market conditions at which the entity’s debt instruments are traded. Medium and long-term liabilities include: · Time deposits and other time liabilities · Interbank borrowings · Debt instruments issued Note 35 - Fair Value of Financial Assets and Liabilities, continued Fair Value measurement of financial assets and liabilities (recurring) -: As of December 31, Fair value measurement of recurring items 2020 2019 MCh$ MCh$ ASSETS Financial instruments at fair value through profit or loss 582,710 183,702 Central Bank of Chile and Government securities 108,042 80,898 Other securities issued in Chile 271 23,123 Foreign government and Central Bank instruments 432,178 67,088 Other instruments issued abroad 4,861 4,390 Investments in mutual funds 35,017 5,903 Other investments at FVTPL 2,341 2,300 Financial instruments at fair value through other comprehensive income 3,970,899 3,598,890 Central Bank of Chile and Government securities 3,056,179 2,174,278 Other securities issued in Chile 296,665 536,576 Foreign government and Central Bank instruments 217,185 165,927 Other instruments issued abroad 394,691 716,423 Other investments at FVOCI 6,179 5,686 Financial derivative contracts 3,982,803 3,154,957 Forwards 472,208 454,300 Swaps 3,509,315 2,696,635 Call options 195 3,805 Put options 1,085 217 Totals 8,536,412 6,937,549 LIABILITIES Financial derivative contracts 3,673,591 2,938,034 Forwards 433,863 504,275 Swaps 3,238,371 2,431,436 Call options 271 1,758 Put options 1,086 565 Totals 3,673,591 2,938,034 Financial Instruments The estimated fair value of these financial instruments is determined using quotes and transactions observed in the main market for identical instruments, or in their absence, for similar instruments. Fair value estimates of debt instruments or securities representative of debt take into account additional variables and inputs to the extent that they apply, including estimates of prepayment rates and the credit risk of issuers. These financial instruments are classified as follows: · Trading portfolio financial assets · Financial investments at FVTOCI Note 35 - Fair Value of Financial Assets and Liabilities, continued Financial Derivative Instruments The estimated fair value of derivative instruments is calculated using prices quoted in the market for financial instruments with similar characteristics. Therefore, the methodology recognizes the credit risk of each counterparty. The adjustments are known internationally as the counterparty value adjustment (“CVA”), which consists of an adjustment for debtor risk (credit value adjustment or CVA) and for creditor risk (debit value adjustment or “DVA”). The sum of these adjustments gives the effective counterparty risk that the derivative contract must have. These adjustments are recorded periodically in the financial statements. As of December 2020, 2019 and 2018, the portfolio of derivative contracts in both Chile and Colombia is detailed as follows: As of December 31, 2020 2019 2018 CVA DVA CVA DVA CVA DVA MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Derivatives held for hedging — — (2) 1 — — Fair value hedge — — — — — — Currency forwards — — — — — — Currency swaps — — — — — — Interest rate swaps — — — — — — Cash flow hedge — — (2) 1 — — Currency forwards — — (2) 1 — — Currency swaps — — — — — — Interest rate swaps — — — — — — Hedge of net investments in a foreign operation — — — — — — Currency forwards — — — — — — Currency swaps — — — — — — Interest rate swaps — — — — — — Derivatives held for trading (40,971) 589 (28,172) 446 (37,821) 340 Currency forwards (443) 205 (341) 123 (127) 65 Currency swaps (36,363) 37 (4,642) 295 (31,167) 127 Interest rate swaps (4,165) 347 (23,189) 28 (6,527) 148 Call currency options — — — — — — Put currency options — — — — — — Total financial derivative contracts (40,971) 589 (28,174) 447 (37,821) 340 Note 35 - Fair Value of Financial Assets and Liabilities, continued Fair value hierarchy IFRS 13 establishes a fair value hierarchy that classifies assets and liabilities based on the characteristics of the data that the technique requires for its valuation: Level 1: Inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the Entity can access at the measurement date. The inputs needed to value the instruments in this category are available daily and used directly. In the case of currency, shares and mutual funds, prices are observed directly in over-the-counter (OTC) markets and the stock exchange. These prices correspond to the values at which the exact same assets are traded. As a result, the portfolio valuation does not require assumptions or models of any type. For instruments issued by the Central Bank of Chile and the Chilean Treasury, a price provider is used, which corresponds to a public quotation. The comparative prices are defined under the criterion of similarity in duration, type of currency and they are traded equivalently on a daily basis. The valuation of these instruments is identical to the Stock Exchange Comercio de Santiago, which is a standard and international methodology. This methodology uses the rate of internal return to discount the flows of the instrument. Level 2: The specific instrument does not have daily quotes. However, similar instruments can be observed (e.g. same issuer, different maturity; or different issuer, same maturity and risk rating). In general, they are diverse combinations of pseudo-arbitration. Although the inputs are not directly observable, observable inputs are available with the needed periodicity. In this category, instruments are valued by discounting contractual cash flows based on a zero-coupon curve determined through the price of instruments with similar characteristics and a similar issuer risk. The income approach is used, which converts future amounts to present amounts. For derivative instruments within this category, quotes from over-the-counter (OTC) transactions reported by the most important brokers in the Chilean market and the Bloomberg platform are used. The inputs observed include forward prices, interest rates and volatilities. Based on these inputs, market curves are modeled. They are a numerical representation of the opportunity costs of the instrument’s cash flows or the price volatility of an asset. Finally, cash flows are discounted. The Black and Scholes model is used for options based on prices of brokers in the Over-The-Counter market. For money market instruments, prices of transactions on the Santiago Stock Exchange are observed and used to model market curves. For corporate or Bank bonds, given the lack of market depth, the Bank uses transactions (if any) in the Chilean market, on foreign markets, zero-coupon curves of risk-free instruments, adjustment curves, spread modeling, correlation with similar financial instruments, etc. and creates market curves for use in the final result. These market curves are provided by a pricing supplier and are widely accepted by the market, regulators and scholars. Note 35 - Fair Value of Financial Assets and Liabilities, continued Level 3: Inputs are unobservable inputs for the asset or liability. This is used when prices, data or necessary inputs are not directly or indirectly observable for similar instruments for the asset or liability as of the valuation date. These fair value valuation models are subjective in nature. Therefore, they base their estimate of prices on a series of assumptions that Management believes are commonly used by the financial services industry. The Bank has two products in this category. Due to the lack of liquidity of the active Banking rate (TAB), the price is not observable and, therefore, models must be used to estimate the future cash flows of the contract. This spread is calculated on a historical basis using the Interest Rate Swap with the greatest market depth. In addition, the Bank develops American forwards to meet its customers’ needs. They do not have a secondary market and, therefore, their value is estimated using an extension of the Hull-White model, used widely by the financial services industry. None of these products generate significant impacts on the Bank’s results as a result of recalibration. The TAB swap does not have significant impacts on the valuation as the parameters are stable and the reversal to a historic average is empirically quick, which this model reflects correctly. On the other hand, the American forward behaves like a traditional forward when there is an important curve differential, which is the case between the Chilean peso-US dollar curve. Also, the model’s parameters are very stable. The table below summarizes the impacts on the portfolio of a recalibration of the models based on a stress scenario, recalibrating parameters with the shock incorporated. As of December 31, 2020 As of December 31, 2019 Forward Forward Americano Basis TAB Basis TAB Americano Basis TAB Basis TAB Impact calibration USD-CLP CLP CLF USD-CLP CLP CLF MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Volatility exchange rate USD-CLP — — — — — — TAB 30 — 76 — — 98 — TAB 90 — 1 — — 4 — TAB 180 — 33 15 — 39 18 TAB 360 — — 3 — — 4 Totals — 110 18 — 141 22 Note 35 - Fair Value of Financial Assets and Liabilities, continued The following table summarizes the fair value hierarchy for the Bank’s recurring valuation of financial instruments: Level Instrument Issuer Price Source Model I Currencies Not Applicable OTC, Bloomberg Directly observable price. Shares Others Santiago Exchange Directly observable price. Mutual Funds Asset Managers CMF (formerly the SVS) Directly observable price. Bonds Chilean Central Bank and Chilean Treasury Santiago Exchange Internal rate of return (“IRR”) based on prices. II Derivatives Not Applicable OTC (brokers), Bloomberg Interest rate curves based on forward prices and coupon rates. Money market Chilean Central Bank and Chilean Treasury Santiago Exchange Interest rate curves based on prices. Money market Banks Santiago Exchange Interest rate curves based on prices. Bonds Companies, Banks Pricing provider Interest rate curves based on correlations, spreads, extrapolations, etc. III Derivatives, active Banking rate (TAB) Not Applicable OTC (brokers) Interest rate curves based on modeling of TAB - Chamber spread. Derivatives, American forwards Not Applicable Bloomberg Black and Scholes with inputs from European options. Note 35 - Fair Value of Financial Assets and Liabilities, continued The following table classifies assets and liabilities measured at fair value on a recurring basis, in accordance with the fair value hierarchy established in IFRS 13, as of December 31, 2020 and 2019 : As of December 31, 2020 Market value of the Other observable Non-observable Measurement at fair value of instruments asset for identified assets significant inputs significant inputs on a recurring basis using Fair value (Level 1) (Level 2) (Level 3) MCh$ MCh$ MCh$ MCh$ ASSETS Financial instruments at fair value through profit or loss 582,710 575,237 7,473 — Central Bank of Chile and Government securities 108,042 108,042 — — Other securities issued locally 271 — 271 — Foreign government and Central Bank instruments 432,178 432,178 — — Other securities issued abroad 4,861 — 4,861 — Investments in mutual funds 35,017 35,017 — — Other investments at FVTPL 2,341 — 2,341 — Financial instruments at fair value through other comprehensive income 3,970,899 3,608,717 362,182 — Central Bank of Chile and Government securities 3,056,179 3,056,179 — — Other securities issued locally 296,665 — 296,665 — Foreign government and Central Bank instruments 217,185 217,185 — — Other securities issued abroad 394,691 335,353 59,338 — Other investments at FVOCI 6,179 — 6,179 — Financial derivative contracts 3,982,803 — 3,955,538 27,265 Forwards 472,208 — 468,632 3,576 Swaps 3,509,315 — 3,485,626 23,689 Call options 195 — 195 — Put options 1,085 — 1,085 — Totals 8,536,412 4,183,954 4,325,193 27,265 LIABILITIES Financial derivative contracts 3,673,591 — 3,672,751 840 Forwards 433,863 — 433,747 116 Swaps 3,238,371 — 3,237,647 724 Call options 271 — 271 — Put options 1,086 — 1,086 — Totals 3,673,591 — 3,672,751 840 Note 35 - Fair Value of Financial Assets and Liabilities, continued As of December 31, 2019 Market value of the Other observable Non-observable Measurement at fair value of instruments asset for identified assets significant inputs significant inputs on a recurring basis using Fair value (Level 1) (Level 2) (Level 3) MCh$ MCh$ MCh$ MCh$ ASSETS Financial instruments at fair value through profit or loss 183,702 177,009 6,693 — Central Bank of Chile and Government securities 80,898 80,898 — — Other securities issued locally 23,123 23,120 3 — Foreign government and Central Bank instruments 67,088 67,088 — — Other securities issued abroad 4,390 — 4,390 — Investments in mutual funds 5,903 5,903 — — Other investments at FVTPL 2,300 — 2,300 — Financial instruments at fair value through other comprehensive income 3,598,890 3,009,607 589,283 — Central Bank of Chile and Government securities 2,174,278 2,174,278 — — Other securities issued locally 536,576 — 536,576 — Foreign government and Central Bank instruments 165,927 165,927 — — Other securities issued abroad 716,423 669,402 47,021 — Other investments at FVOCI 5,686 — 5,686 — Financial derivative contracts 3,154,957 — 3,127,525 27,432 Forwards 454,299 — 449,239 5,060 Swaps 2,696,636 — 2,674,264 22,372 Call options 3,805 — 3,805 — Put options 217 — 217 — Totals 6,937,549 3,186,616 3,723,501 27,432 LIABILITIES Financial derivative contracts 2,938,034 — 2,936,915 1,119 Forwards 504,275 — 504,094 Swaps 2,431,436 — 2,430,498 Call options 1,758 — 1,758 — Put options 565 — — Totals 2,938,034 — 2,936,915 1,119 Note 35 - Fair Value of Financial Assets and Liabilities, continued Transfers between level 1 and 2 As of December 31, 2020 and 2019 no transfers were observed between Level 1 and Level 2, as shown below As of December 31, Measurement at fair value of instruments 2020 that are valued recurrently Fair value Level 1 to 2 Level 2 to 1 MCh$ MCh$ MCh$ ASSETS Financial instruments at fair value through profit or loss 582,710 — — Financial instruments at fair value through other comprehensive income 3,970,899 — — Financial derivative contracts 3,982,803 — — Totals 8,536,412 — — LIABILITIES Financial derivative contracts 3,673,591 — — Totals 3,673,591 — — As of December 31, Measurement at fair value of instruments 2019 that are valued recurrently Fair value Level 1 to 2 Level 2 to 1 MCh$ MCh$ MCh$ ASSETS Financial instruments at fair value through profit or loss 183,702 — — Financial instruments at fair value through other comprehensive income 3,598,890 — — Financial derivative contracts 3,154,957 — — Totals 6,937,549 — — LIABILITIES Financial derivative contracts 2,938,034 — — Totals 2,938,034 — — Disclosures regarding level 3 assets and liabilities During 2019 and 2018, no assets were transferred between levels 1 and 2. Disclosures Regarding Level 3 Assets and Liabilities Level 3 assets and liabilities are valued using techniques that require inputs that are not observable on the market, for which the income approach is used to convert future amounts to present amounts. This category includes: · Financial derivative instruments indexed to the TAB rate. This rate is comprised of an interbank rate and a liquidity premium charged to financial institutions and is determined using a short-rate model with mean reversion. · American forward options. Note 35 - Fair Value of Financial Assets and Liabilities, continued As none of these products has a market, the Bank uses financial engineering valuation techniques that use unobservable variables. These techniques use the following inputs: transaction prices from the main financial instrument markets and assumptions that Management believes are commonly used by the financial services industry. Using this information, unobservable variables are constructed such as: adjustment curves, spreads, volatilities and other variables necessary for the valuation. Lastly, all of the models are subject to internal contrasts by independent areas and have been reviewed by internal auditors and regulators. None of these products generate significant impacts on the Bank’s results as a result of recalibration. The American Forward is only offered for the US dollar-Chilean peso market and until now, given the important differential between these interest rates, the product behaves like a traditional forward. The TAB swap does not have significant impacts on the valuation as the modeled liquidity premiums have a quick mean reversion for the short part and low volatility for the long part, concentrating on the book’s sensitivity in the longest part of the curve. The following table reconciles assets and liabilities measured at fair value on a recurring basis as of December 31, 2020 and 2019. As of December 31, 2020 Gain (loss) Gain (loss) Purchases, Transfers Opening recognized in recognized in sales and from level 1 Ending Level 3 reconciliation balance profit or loss equity agreements or level 2 balance MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ ASSETS Financial derivative contracts 27,432 28,603 — (28,770) — 27,265 Forwards 5,060 23,803 — (25,287) — 3,576 Swaps 22,372 4,800 — (3,483) — 23,689 Call options — — — — — — Put options — — — — — — Totals 27,432 28,603 — (28,770) — 27,265 LIABILITIES Financial derivative contracts 1,119 725 — (1,004) — 840 Forwards 181 2,397 — (2,462) — 116 Swaps 938 (1,672) — 1,458 — 724 Call options — — — — — — Put options — — — — — — Totals 1,119 725 — (1,004) — 840 Note 35 - Fair Value of Financial Assets and Liabilities, continued As of December 31, 2019 Gain (loss) Gain (loss) Purchases, Transfers Opening recognized in recognized in sales and from level 1 Ending Level 3 reconciliation balance profit or loss equity agreements or level 2 balance MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ ASSETS Financial derivative contracts 27,156 17,328 — (17,052) — 27,432 Forwards 618 12,398 — (7,956) — 5,060 Swaps 26,538 4,930 — (9,096) — 22,372 Call options — — — — — — Put options — — — — — — Totals 27,156 17,328 — (17,052) — 27,432 LIABILITIES Financial derivative contracts 569 3,208 — (2,658) — 1,119 Forwards 49 2,565 — (2,433) — 181 Swaps 520 643 — (225) — 938 Call options — — — — — — Put options — — — — — — Totals 569 3,208 — (2,658) — 1,119 Hierarchy for remaining assets and liabilities The following table classifies assets and liabilities measured at fair value on a non-recurring basis, in accordance with the fair value hierarchy as of December 31, 2020 and 2019. As of December 31, 2020 Market value of the Other observable Non-observable Estimated fair asset for identified significant inputs significant inputs Measurement at fair value of items on a non-recurring basis value assets (Level 1) (Level 2) (Level 3) MCh$ MCh$ MCh$ MCh$ ASSETS Cash and deposits in banks 3,089,072 3,089,072 — — Cash items in process of collection 173,192 173,192 — — Loans and accounts receivable at amortized cost 22,767,597 — — 22,767,597 Financial instruments at amortized cost 110,608 110,608 — — Investments under resale agreements 105,580 105,580 — — Interbank loans, net 7,121 7,121 — — Totals 26,253,170 3,485,573 — 22,767,597 LIABILITIES Deposits and other demand liabilities 6,197,406 6,197,406 — — Cash in process of being cleared 154,232 154,232 — — Obligations under repurchase agreements 63 |
Risk management
Risk management | 12 Months Ended |
Dec. 31, 2020 | |
Text block [Abstract] | |
Risk management | Note 36 - Risk management The Bank and its subsidiaries, through their activity, are exposed to several types of risk mainly related to loans portfolio and financial instruments. Risk management policies are established in order to identify and analyze the risks faced by the Bank, set limits and adequate controls, monitor risks and comply with limits. The risk management policies and risk administration structures are reviewed periodically in order to reflect changes in the institution’s activities. The Bank, through its rules and procedures, intends to develop an appropriate control environment, in which all employees understand their roles and responsibilities. The following is a description of the main business activities and policies of the Bank in terms of risk management. Risk Management Structure Board of Directors At the Bank and its Subsidiaries, the Board of Directors plays a leading role in corporate governance. It is responsible for establishing and monitoring the Bank’s risk management structure, for which it has a corporate governance system aligned with international best practices and Chilean regulations, mainly from the CMF. One of the principal functions of the Board of Directors is to ensure that measures are in place to monitor, evaluate and guide senior management to ensure that their actions are in line with best practices and defined risk appetite levels. To accomplish this, a governance structure made up of various committees has been created. These committees lay out behavioral guidelines for the Bank’s associates and assist them in carrying out their functions related to controlling and managing the Bank’s risks. Audit Committee The Audit Committee’s objective is to monitor the Bank’s internal control systems and its compliance with regulations and other internal standards. It is also responsible for the oversight of the different aspects of maintenance, application and functioning of the Bank’s internal controls, monitoring compliance with standards and procedures regulating its practices, and having an understanding of the risks that can arise from the business conducted by the Bank. The committee is linked to the Board of Directors through the participation of at least two board members named by the Board itself. These members must report to the Board situations and events analyzed by the Committee, thus holding the Bank’s Board members responsible for complying with both self-control policies established and practiced by the entity as well as laws and regulations to which it is subject. The Audit Committee must reinforce and support Internal Audit function including its independence from management and serve, at the same time, as a link between the internal audit department and the independent auditors as well as between both auditors and the Board of Directors. Directors’ Committee The Directors’ Committee’s objective is to strengthen the self-regulation of the Bank and other entities under its control, making the Board’s work more efficient through increased oversight of management’s activities. Likewise, responsible for making the agreements necessary to protect shareholders, especially minority shareholders, examining executive compensation systems and analyzing and issuing a report on the transactions referenced in title XVI of Law 18,046. A copy of this report is sent to the Board, which must read the report and approve or reject each respective transaction. Note 36 - Risk management, continued In its role as overseer of corporate activity, the committee must inform the market of any violations or major corporate events as well as transactions that the company carries out with related parties of the controlling shareholder or takeovers of any form. Corporate Governance Committee For the purposes of this committee, which is aware of how difficult it is to bring together all aspects of good corporate governance under one definition, corporate governance shall be defined as the set of bodies and institutional practices that impact a company’s decision making process, contributing to sustainable value creation in a framework of transparency, proper management, risk control and corporate responsibility towards the market. Therefore, appropriate corporate governance in a Bank must align organizational incentives and promote the rights of shareholders and other direct or indirect stakeholders. The Corporate Governance Committee is a consultation body of the Board of Directors whose mission is to ensure the existence and development within the Bank of the best corporate governance practices for financial entities. To this end, it will evaluate the current practices and policies, propose and make recommendations to the Board of Directors on improvements, reforms and adjustments that it deems appropriate and work to ensure proper implementation and application of these corporate governance practices and policies defined by the Board of Directors. Asset-Liability Committee (ALCO) After the Board and its specialized committees, the Asset-Liability Committee (hereinafter also “ALCO”) is the next highest body involved in managing the institution’s financial policies. The committee’s main purpose is to comply with the financial guidelines set by the Board of Directors. In this spirit, it must approve and monitor the financial strategies that guide the Bank with respect to the composition of its assets and liabilities, cash inflows and outflows and transactions with financial instruments. It will consider the diverse alternatives available to make decisions that ensure the highest and most sustainable returns with financial risk levels that are compatible with the business, current regulations and internal standards. Anti-Money Laundering and Anti-Terrorism Finance Prevention Committee This committee’s main purpose is to plan and coordinate activities to comply with policies and procedures to prevent asset laundering, terrorism financing and bribery, to maintain itself informed of the work carried out by the Compliance Officer, who has also been designated as the head of prevention in conformity with Law No. 20,393, as well as to adopt agreements to improve prevention and control measures proposed by the Compliance Officer. Operational Risk Committee This committee’s objective is to evaluate the status of critical processes that are directly related to the Bank’s Operational Risk and Internal Controls, in accordance with current Commission for the Financial Market standards in order to improve any weaknesses that the Bank may present and ensure proper implementation of regulatory changes. It is also responsible for attaining critical processes under an internal control environment that enables the Bank to operate stably and consistently, thus procuring desired levels of reliability, integrity and availability for information resources. Note 36 - Risk management, continued Compliance Committee The Compliance Committee’s main purpose is to define, promote and ensure that the conduct of all Itaú Corpbanca employees meets the highest possible standards of personal and professional excellence. Employee conduct should, at all times, be guided by the principles and values that embody our organization’s spirit, philosophy and good business practices. It is also responsible for ensuring that the Regulatory Compliance Model is properly applied in accordance with definitions set by this committee, and for maintaining itself informed of the work carried out by the Compliance Officer on such matters, as well as adopting agreements to improve control measures proposed by the him. Committee on Risk Methodologies The objective of the Risk Methodologies Committee is to ensure the quality of all methodologies for estimating the Bank’s provisions for all business areas. This Committee - which exercises its functions with respect to the Bank, its Divisions and Subsidiaries - deals with certain corporate aspects such as policies, manuals and procedures related to the methodologies of Bank provisions, as well as the statistical models of admission, behavior and provisions. Its main members are: Corporate Risk Manager, Risk Control Manager, Retail Credit Manager, Financial Risk Manager, Responsible for Monitoring and Control of Retail and Responsible for Risk Models. Portfolio Committee The objective of the Portfolio Committee is to monitor the evolution of the Bank’s wholesale and retail portfolios in terms of their risk-return ratio, their adjustment to the defined risk appetite and the progress made in materializing short-term strategies or instructions. Also, long term that this committee has defined. As a result, it considers in its analysis the competition, the movements of its most relevant actors and the main risks that affect the management of the portfolios, as well as the projects that have an impact on the matter. Its main members are: General Manager, Corporate Risk Manager, Risk Control Manager, Wholesale Credit Manager, Wholesale Banking Manager, Retail Credit Manager, Retail Banking Manager, Financial Planning and Control Manager and Product Manager and Marketing Internal Audit The main function of Internal Audit is to support the Board of Directors and senior management to independently asses the maintenance, application and proper functioning of the Bank’s internal control system, which also entails supervising compliance with rules and procedures. Code of Conduct and Market Information Manual The objective is to continue progressing to become the best bank and have first-rate human capital. All associates, directors and subsidiaries must adhere to ethical standards based on principles and values designed to guide and maintain the highest possible standards. In response to the clients’ trust and recognition, which are vital to the Bank’s success, all associates and directors should strive to retain this trust, strictly complying with the General Code of Conduct. Note 36 - Risk management, continued Main Risks and Requirements Affecting the Bank and its Subsidiaries: Credit risk Credit risk is the risk that a customer or counterparty will default on its contractual obligations resulting in financial loss to the Bank. The Bank’s main income generating activity is lending to customers and therefore credit risk is a principal risk. Credit risk mainly arises from loans and advances to customers and other Banks (including related commitments to lend such as loan or credit card facilities), investments in debt securities and derivatives that are an asset position. The Bank considers all elements of credit risk exposure such as counterparty default risk, geographical risk and sector risk for risk management purposes. Credit risk management The Bank’s credit committee is responsible for managing the Bank’s credit risk by: · Ensuring that the Bank has appropriate credit risk practices, including an effective system of internal control, to consistently determine adequate allowances in accordance with the Bank’s stated policies and procedures, IFRS and relevant supervisory guidance. · Identifying, assessing and measuring credit risk across the Bank, from an individual instrument to a portfolio level. · Creating credit policies to protect the Bank against the identified risks including the requirements to obtain collateral from borrowers, to perform robust ongoing credit assessment of borrowers and to continually monitor exposures against internal risk limits. · Limiting concentrations of exposure by type of asset, counterparties, industry, credit rating, geographic location etc. · Establishing a robust control framework regarding the authorization structure for the approval and renewal of credit facilities. · Developing and maintaining the Bank’s risk grading to categorize exposures according to the degree of risk of default. Risk grades are subject to regular reviews. · Developing and maintaining the Bank’s processes for measuring ECL including monitoring of credit risk, incorporation of forward looking information and the method used to measure ECL. · Ensuring that the Bank has policies and procedures in place to appropriately maintain and validate models used to assess and measure ECL. · Establishing a sound credit risk accounting assessment and measurement process that provides it with a strong basis for common systems, tools and data to assess credit risk and to account for ECL. Providing advice, guidance and specialist skills to business units to promote best practice throughout the Bank in the management of credit risk. The internal audit function performs regular audits making sure that the established controls and procedures are adequately designed and implemented. Note 36 - Risk management, continued Significant increase in credit risk The Bank analyzes all data collected using statistical models and estimates the remaining lifetime PD of exposures and how these are expected to change over time. The factors taken into account in this process include macro-economic data such as GDP growth, unemployment, benchmark interest rates and house prices. The Bank generates a ‘base case’ scenario of the future direction of relevant economic variables as well as a representative range of other possible forecast scenarios. The Bank then uses these forecasts, which are probability-weighted, to adjust its estimates of PDs. Under the Bank’s monitoring procedures a significant increase in credit risk is identified before the exposure has defaulted, and at the latest when the exposure becomes 30 days past due, unless the Bank has reasonable and supportable information that demonstrates otherwise. As of December 31, 2020 and considering the current pandemic situation, the IASB required special attention to the assets of the impairment reflected in the ECL calculation and the SICR triggers, taking in account not only the current conditions and forecast of the economic factors, but also the Government support measures. As part of our permanent monitoring process to properly reflect expected credit losses some improvements have been implemented during 2020, mainly related to SICR which now is calculated for each category of loans and SICR related to Covid-19 relief measures for our clients. The Bank uses different criteria to determine whether credit risk has increased significantly per portfolio of assets. The criteria used are both quantitative changes in PDs as well as qualitative. The table below summarizes per type of asset the range above which an increase in lifetime PD is determined to be significant, as well as some indicative qualitative indicators assessed. Criteria used for Chile % of absolute increase PD ranges per in lifetime Type of portfolio Debtor category debtor category PD Stages Days of arrears to the end of the month A1, A2, A3 0.04 – 0.25% 0.13% Stage 1 Up to 29 days A4 2% 1.62% Stage 1 Up to 29 days Corporate A5 (*), A6 4.75 – 10% 3.52% Stage 1 Up to 29 days B1, B2, B3 15 - 45% 23.05% Stage 2 From 30 to 89 days B4, C1, C2, C3, C4, C5, C6 100% 100% Stage 3 90 days or more (*) Loans originated in A5 are considered Stage 1 at inception. Loans that were originated in a higher category and subsequently downgraded to A5 are considered Stage 2. Note 36 - Risk management, continued Days of arrears to the end of the month, probability of default (PD) and Type of portfolio Portfolio Stages qualitative considerations Stage 1 Up to 29 days CAE Stage 2 From 30 to 89 days or (difference Referential Life Time PD >=1.61 and difference PD Life Time at origination >= 0.13) combinated with a client with a extension and (with a protest or a debt increase in 25%) Stage 3 90 days or more Stage 1 Up to 29 days Condell / Restructured Condell Stage 2 (Condell) From 30 to 89 days or (difference Referential Life Time PD >=1.59 and difference PD Life Time at origination >= 0.04) combinated with a client with a extension and (with a protest or a debt increase) Stage 2 (Restructured Condell) From 30 to 89 days or (difference Referential Life Time PD >=1.47 and difference PD Life Time at origination >= 0.08) combinated with a client with a extension and (with a protest or a debt increase) Stage 3 90 days or more Stage 1 Up to 29 days Commercial/ Stage 2 (Commercial) From 30 to 89 days or (difference Referential Life Time PD >=1.71 and difference PD Life Time at origination >= 0.11) combinated with a client with a extension and (with a protest or a debt increase in 25%) Group Stage 2 (Rotative Commercial) From 30 to 89 days or (difference Referential Life Time PD >=2.25 and difference PD Life Time at origination >= 0.07) combinated with a client with a extension and (with a protest or a debt increase in 25%) Stage 3 90 days or more Stage 1 Up to 29 days Stage 2 (Consumer) From 30 to 89 days or (difference Referential Life Time PD >=2.08 and difference PD Life Time at origination >= 0.08) combinated with a client with a extension and (with a protest or a debt increase in 25%) Consumer/ Stage 2 (Renegotiated Consumer) From 30 to 89 days or (difference Referential Life Time PD >=1.79 and difference PD Life Time at origination >= 0.20) combinated with a client with a extension and (with a protest or a debt increase in 25%) Stage 2 (Rotative Consumer) From 30 to 89 days or (difference Referential Life Time PD >=2.46 and difference PD Life Time at origination >= 0.08) combinated with a client with a extension and (with a protest or a debt increase in 25%) Stage 3 90 days or more Stage 1 Up to 29 days Mortgage Stage 2 From 30 to 89 days or (difference Referential Life Time PD >=2.41 and difference PD Life Time at origination >= 0.20) combinated with a client with a extension and (with a protest or a debt increase in 25%) Stage 3 90 days or more The quantitative criteria is used to identify where an exposure has increased in credit risk and it is applied based on whether an increase in the lifetime PD since the recognition date exceeds the threshold set in absolute and relative terms. The following formulas are used to determine such thresholds: Relative comparison formula Threshold = Lifetime PD (at reporting date) - 1 Lifetime PD (at origination) Absolute comparison formula Threshold = Lifetime PD (at reporting date) – Lifetime PD (at origination) Note 36 - Risk management, continued Criteria used for Colombia % of absolute increase in % of relative increase Qualitative lifetime PD in lifetime PD indicators assessed Corporate portfolio Debt restructuring and increase in credit risk of other financial instruments Without information % 2,558.55 % Small company % 2,027.22 % Small company % 1,156.16 % Medium company % 1,181.62 % Medium company % 81.69 % Large company % 738.75 % Low default % 149.62 % Low default (Government and Financial) % 621.57 % Group portfolio Increase in credit risk of other financial instruments Leasing % 236.20 % Payroll deductible loan % 424.01 % Revolving line of credit % 221.72 % Overdraft limit % 2.29 % Credit card % 42.33 % Mortgage loan % 137.24 % Personal debt restructuring % 879.62 % Other loans % 286.72 % Loan commitments are assessed along with the category of loan the Bank is committed to provide, i.e. commitments to provide mortgages are assessed using similar criteria to mortgage loans, while commitments to provide a corporate loan are assessed using similar criteria to corporate loans. The Bank has monitoring procedures in placfe to make sure that the criteria used to identify significant increases in credit are effective, meaning that significant increase in credit risk is identified before the exposure is defaulted or when the asset becomes 30 days past due. The Bank performs periodic back-testing of its ratings to consider whether the drivers of credit risk that led to default were accurately reflected in the rating in a timely manner. Incorporation of forward-looking information The Bank uses forward-looking information that is available without undue cost or effort in its assessment of significant increase of credit risk as well as in its measurement of ECL. The Bank employs experts who use external and internal information to generate a ‘base case’ scenario of future forecast of relevant economic variables along with a representative range of other possible forecast scenarios. The external information used includes economic data and forecasts published by governmental bodies and monetary authorities. Note 36 - Risk management, continued The Bank applies probabilities to the forecast scenarios identified. The base case scenario is the single most-likely outcome and consists of information used by the Bank for strategic planning and budgeting. The Bank has identified and documented key drivers of credit risk and credit losses for each portfolio of financial instruments and, using a statistical analysis of historical data, has estimated relationships between macro-economic variables and credit risk and credit losses. The Bank has not made changes in the estimation techniques or significant assumptions made during the reporting period. The table below summarizes the principal macroeconomic indicators included in the economic scenarios used as of December 31, 2020 until December 31, 2023 in the countries where the Bank and its subsidiaries operate and therefore are the countries that have a material impact on ECLs. Criteria for Chile 2021 2022 2023 Indicators Portfolio Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Unemployment rate Base scenario Range of upside scenarios Range of downside scenarios Consumer's price index (IPC) Base scenario 107.66 108.18 108.54 109.46 111.02 111.46 112.01 112.75 114.35 114.79 115.37 116.14 Range of upside scenarios 108.93 108.85 108.92 110.93 112.81 112.49 112.78 114.81 116.70 116.32 116.55 118.60 Range of downside scenarios 107.16 107.24 107.70 108.58 109.70 109.91 110.39 111.30 112.50 112.76 113.32 114.30 Interbank interest rate Base scenario Range of upside scenarios Range of downside scenarios Exchange Rate (USD/CLP) Base scenario 760.00 760.00 760.00 760.00 760.00 760.00 760.00 760.00 757.50 755.00 752.50 745.00 Range of upside scenarios 788.75 802.50 816.25 830.00 830.00 830.00 830.00 830.00 822.50 815.00 807.50 775.00 Range of downside scenarios 713.75 712.50 711.25 710.00 710.00 710.00 710.00 710.00 707.50 705.00 702.50 715.00 Note 36 - Risk management, continued Criteria for Colombia As of December 31, 2021 2022 2023 GDP growth Base scenario 1.45 3.54 3.29 Range of upside scenarios 1.85 4.64 4.39 Range of downside scenarios 0.35 2.44 2.19 Unemployment rates Base scenario 14.36 13.65 11.95 Range of upside scenarios 12.36 11.65 9.95 Range of downside scenarios 16.36 15.65 13.95 Benchmark interest rates Base scenario 2.00 3.50 4.50 Range of upside scenarios 3.25 4.75 5.00 Range of downside scenarios 1.25 2.00 3.50 currency exchange rate Base scenario 3,650 3,600 3,600 Range of upside scenarios 3,450 3,400 3,300 Range of downside scenarios 3,950 3,900 3,800 Consumer’s Price Index Base scenario 3.00 3.00 3.00 Range of upside scenarios 3.48 3.84 4.20 Range of downside scenarios 2.52 2.16 1.80 Predicted relationships between the key indicators and default and loss rates on various portfolios of financial assets have been developed based on analyzing historical data over the past 3 years. Sensitivity analysis The most significant assumptions affecting the ECL allowance, as indicated in the tables above by country, are as follows: Chile: · Unemployment rate, given its impact on secured and unsecure borrowers’ ability to meet their contractual repayments. · Consumer’s Price Index (IPC), given its impact on housing prices, mortgage collateral valuations, and consumers acquisition power · Interbank interest rate, given its impact on companies’ likelihood of default · Exchange rate (USD/CLP) Note 36 - Risk management, continued Colombia: · GDP growth, given the significant impact on companies’ performance and collateral valuations · Unemployment rates, given its impact on secured and unsecure borrowers’ ability to meet their contractual repayments. · Interest rate, given its impact on companies’ likelihood of default · Exchange rates, given its impact on companies’ financial position and debt · Consumer’s Price Index (IPC), given its impact on housing prices and consumers acquisition power Set out below are the changes to ECL as of December 31, 2020 that would result from reasonably possible changes in these parameters from the actual assumptions used in the Bank’s economic variable assumptions as set forth in the tables above for Base scenarios, upside scenarios, and downside scenarios. ECL coverage of loans and accounts receivable at amortized cost subject to significant measurement uncertainty as of December 31, 2020 Chile Colombia MCh$ MCh$ Reported ECL 737,016 304,848 Loans and accounts receivable at amortized cost 18,250,479 4,367,502 Reported Coverage (Reported ECL/ loans and accounts receivable at amortized cost) % 4.04 6.98 Consensus upside scenario (Upside scenario for ECL/ loans and accounts receivable at amortized cost) % 3.95 6.70 Consensus central scenario (Base scenario for ECL/ loans and accounts receivable at amortized cost) % 4.01 6.96 Consensus downside scenario (Downside scenario for ECL/ loans and accounts receivable at amortized cost) % 4.13 7.16 ECL coverage rates reflect the underlying observed credit defaults, the sensitivity to economic environment, extent of collateral and the effective maturity of the book. Measurement of ECL The key inputs used for measuring ECL are: · probability of default (PD); · loss given default (LGD); and · exposure at default (EAD). As explained above these figures are generally derived from internally developed statistical models and other historical data and they are adjusted to reflect probability-weighted forward-looking information. Note 36 - Risk management, continued PD is an estimate of the likelihood of default over a given time horizon. It is estimated as at a point in time. The calculation is based on statistical rating models, and assessed using rating tools tailored to the various categories of counterparties and exposures. These statistical models are based on market data (where available), as well as internal data comprising both quantitative and qualitative factors. PDs are estimated considering the contractual maturities of exposures and estimated prepayment rates. The estimation is based on current conditions, adjusted to take into account estimates of future conditions that will impact PD. LGD is an estimate of the loss arising on default. It is based on the difference between the contractual cash flows due and those that the lender would expect to receive, taking into account cash flows from any collateral. The LGD models for secured assets consider forecasts of future collateral valuation taking into account sale discounts, time to realization of collateral, cross-collateralization and seniority of claim, cost of realization of collateral and cure rates (i.e. exit from non-performing status). LGD models for unsecured assets consider time of recovery, recovery rates and seniority of claims. The calculation is on a discounted cash flow basis, where the cash flows are discounted by the current interest rate. EAD is an estimate of the exposure at a future default date, taking into account expected changes in the exposure after the reporting date, including repayments of principal and interest, and expected drawdowns on committed facilities. The Bank’s modelling approach for EAD reflects expected changes in the balance outstanding over the lifetime of the loan exposure that are permitted by the current contractual terms, such as amortization profiles, early repayment or overpayment, changes in utilization of undrawn commitments and credit mitigation actions taken before default. The Bank uses EAD models that reflect the characteristics of the portfolios. The Bank measures ECL considering the risk of default over the maximum contractual period (including extension options) over which the entity is exposed to credit risk and not a longer period, even if contact extension or renewal is common business practice. However, for financial instruments such as credit cards, revolving credit facilities and overdraft facilities that include both a loan and an undrawn commitment component, the Bank’s contractual ability to demand repayment and cancel the undrawn commitment does not limit the Bank’s exposure to credit losses to the contractual notice period. For such financial instruments the Bank measures ECL over the period that it is exposed to credit risk and ECL would not be mitigated by credit risk management actions, even if that period extends beyond the maximum contractual period. These financial instruments do not have a fixed term or repayment structure and have a short contractual cancellation period. However, the Bank does not enforce in the normal day-to-day management the contractual right to cancel these financial instruments. This is because these financial instruments are managed on a collective basis and are canceled only when the Bank becomes aware of an increase in credit risk at the facility level. This longer period is estimated taking into account the credit risk management actions that the Bank expects to take to mitigate ECL, e.g. reduction in limits or cancellation of the loan commitment. The measurement of ECL is based on probability weighted average credit loss. As a result, the measurement of the loss allowance should be the same regardless of whether it is measured on an individual basis or a collective basis (although measurement on a collective basis is more practical for large portfolios of items). In relation to the assessment of whether there has been a significant increase in credit risk it can be necessary to perform the assessment on a collective basis as noted below. Note 36 - Risk management, continued Credit quality A detail by credit quality, which includes loans and accounts receivable from customers and interbank loans as of December 31, 2020 and 2019 is summarized as follows: As of December 31, 2020 Corporate Stage 1 Stage 2 Stage 3 Totals corporate Percentage Stage 1 Stage 2 Stage 3 Totals allowance Percentage MCh$ MCh$ MCh$ MCh$ % MCh$ MCh$ MCh$ MCh$ % A1 163,981 — — 163,981 (66) — — (66) A2 514,946 — — 514,946 (254) — — (254) A3 2,182,085 — — 2,182,085 (3,624) — — (3,624) A4 4,223,518 — — 4,223,518 (35,625) — — (35,625) A5 2,952,521 — — 2,952,521 (19,474) — — (19,474) A6 — 920,044 — 920,044 — (38,540) — (38,540) B1 — 431,934 — 431,934 — (10,757) — (10,757) B2 — 161,455 — 161,455 — (13,265) — (13,265) B3 — 163,779 — 163,779 — (16,242) — (16,242) B4 — 208,409 — 208,409 — (56,413) — (56,413) C1 — — 97,306 97,306 — — (2,193) (2,193) C2 — — 63,842 63,842 — — (7,146) (7,146) C3 — — 166,229 166,229 — — (46,524) (46,524) C4 — — 185,893 185,893 — — (83,164) (83,164) C5 — — 128,699 128,699 — — (94,140) (94,140) C6 — — 188,493 188,493 — — (191,900) (191,900) Subtotals corporate 10,037,051 1,885,621 830,462 12,753,134 (59,043) (135,217) (425,067) (619,327) As of December 31, 2020 Group Stage 1 Stage 2 Stage 3 Total group Percentage Stage 1 Stage 2 Stage 3 Totals allowance Percentage MCh$ MCh$ MCh$ MCh$ % MCh$ MCh$ MCh$ MCh$ % Commercial loans 491,849 1,178,431 385,385 2,055,665 (29,083) (57,606) (41,601) (128,290) Mortgage loans 4,166,515 1,025,921 124,317 5,316,753 (10,732) (48,514) (14,219) (73,465) Consumer loans 1,732,525 686,699 73,205 2,492,429 (66,649) (105,353) (48,789) (220,791) Subtotals group 6,390,889 2,891,051 582,907 9,864,847 (106,464) (211,473) (104,609) (422,546) Totals portfolio 16,427,940 4,776,672 1,413,369 22,617,981 (165,507) (346,690) (529,676) (1,041,873) Note 36 - Risk management, continued As of December 31, 2019 Corporate Stage 1 Stage 2 Stage 3 Totals corporate Percentage Stage 1 Stage 2 Stage 3 Totals allowance Percentage MCh$ MCh$ MCh$ MCh$ % MCh$ MCh$ MCh$ MCh$ % A1 101,936 — — 101,936 (14) — — (14) A2 600,732 — — 600,732 (124) — — (124) A3 3,063,847 — — 3,063,847 (1,636) — — (1,636) A4 4,238,157 — — 4,238,157 (12,582) — — (12,582) A5 2,723,568 — — 2,723,568 (21,246) — — (21,246) A6 — 1,041,531 — 1,041,531 — (25,533) — (25,533) B1 — 364,393 — 364,393 — (11,971) — (11,971) B2 — 154,200 — 154,200 — (12,071) — (12,071) B3 — 73,505 — 73,505 — (11,058) — (11,058) B4 — 413,676 — 413,676 — (91,038) — (91,038) C1 — — 167,177 167,177 — — (8,126) (8,126) C2 — — 43,587 43,587 — — (3,213) (3,213) C3 — — 80,574 80,574 — — (14,848) (14,848) C4 — — 91,831 91,831 — — (27,076) (27,076) C5 — — 205,639 205,639 — — (98,523) (98,523) C6 — — 144,115 144,115 — — (95,606) (95,606) Subtotals corporate 10,728,240 2,047,305 732,923 13,508,468 (35,602.00) (151,671.00) (247,392.00) (434,665) As of Decembe |
Maturity of assets and liabilit
Maturity of assets and liabilities | 12 Months Ended |
Dec. 31, 2020 | |
Text block [Abstract] | |
Maturity of assets and liabilities | Note 37 - Maturity of assets and liabilities The main assets grouped by maturity, including interest accrued as of December 31, 2020 and 2019, are detailed as follows: As of December 31, 2020 Between Between 1 month Between Between 3 years to 3 3 month 1 year to to 6 Over 6 Up to 1 month months to 1 year 3 years years years Totals MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Assets Financial instruments at fair value through profit or loss 55,516 65,370 77,021 176,681 192,719 15,403 582,710 Financial instruments at fair value through other comprehensive income 1,127,310 97,970 486,354 870,028 1,312,994 76,243 3,970,899 Loans and accounts receivable from customers at amortized cost (**) 1,956,465 1,457,769 2,260,698 2,834,427 3,929,783 10,178,839 22,617,981 Commercial loans 1,387,069 1,436,296 2,167,838 2,258,716 2,769,842 4,789,038 14,808,799 Mortgage loans 1,980 420 2,952 26,153 181,838 5,103,410 5,316,753 Consumer loans 567,416 21,053 89,908 549,558 978,103 286,391 2,492,429 Financial instruments at amortized cost 18,197 — 92,698 647 — — 111,542 Investments under resale agreements 19,933 40,537 43,633 692 785 — 105,580 Financial derivative contracts 173,313 10,258 526,205 639,459 918,637 1,714,931 3,982,803 Interbank loans (*) — 7,131 — — — — 7,131 Subtotal 3,350,734 1,679,035 3,486,609 4,521,934 6,354,918 11,985,416 31,378,646 Liabilities Obligations under repurchase agreements 637,751 1,100 — — — — 638,851 Time deposits and other time liabilities 4,627,676 2,385,542 3,311,082 661,139 123,689 323,936 11,433,064 Financial derivative contracts 171,119 18,551 483,102 669,539 878,157 1,453,123 3,673,591 Interbank borrowings 103,194 119,061 719,886 970,810 1,874,093 11,934 3,798,978 Lease obligations 2,927 7,258 20,645 51,861 49,170 20,024 151,885 Debt instruments issued 1,640 545 326,088 838,032 1,873,627 3,164,924 6,204,856 Subtotal 5,544,307 2,532,057 4,860,803 3,191,381 4,798,736 4,973,941 25,901,225 (*) Interbank loans are presented gross. The amount of allowances corresponds to MCh$10. (**) Loans and accounts receivable from customers at amortized cost are presented gross. Allowances by loan type are detailed as follows: Commercial MCh$747,617; Mortgage MCh$73,465; and Consumer MCh$220,791. Note 37 - Maturity of assets and liabilities, continued As of December 31, 2019 Between Between 1 month Between Between 3 years to 3 3 month 1 year to to 6 Over 6 Up to 1 month months to 1 year 3 years years years Totals MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Assets Financial instruments at fair value through profit or loss 20,465 54,382 39,730 39,822 26,703 2,600 183,702 Financial instruments at fair value through other comprehensive income 258,843 151,014 609,862 1,515,340 896,383 167,448 3,598,890 Loans and accounts receivable from customers at amortized cost (**) 1,641,670 2,723,589 2,796,116 2,576,345 3,778,435 9,618,659 23,134,814 Commercial loans 1,443,029 2,209,624 2,693,582 1,962,306 2,516,050 4,635,953 15,460,544 Mortgages loans 3,040 550 2,760 22,657 115,878 4,731,156 4,876,041 Consumer loans 195,601 513,415 99,774 591,382 1,146,507 251,550 2,798,229 Financial instruments at amortized cost 29,026 7,543 78,138 951 — — 115,658 Investments under resale agreements 75,975 — — — — — 75,975 Financial derivative contracts 151,952 160,523 306,284 602,190 662,530 1,271,478 3,154,957 Interbank loans (*) 55,881 — 945 — — — 56,826 Subtotal 2,233,812 3,097,051 3,831,075 4,734,648 5,364,051 11,060,185 30,320,822 Liabilities Investments under resale agreements 559,457 — — — — — 559,457 Deposits and other demand liabilities 3,946,542 2,432,029 3,913,833 827,802 128,756 371,225 11,620,187 Financial derivative contracts 235,652 145,905 283,404 580,829 703,285 988,959 2,938,034 Interbank borrowings 90,251 246,214 1,781,437 406,539 96,281 26,034 2,646,756 Lease obligations 1,177 76,333 52,074 14,561 20,734 8,045 172,924 Debt instruments issued 30,419 378 620,710 959,369 1,375,640 3,421,840 6,408,356 Subtotal 4,863,498 2,900,859 6,651,458 2,789,100 2,324,696 4,816,103 24,345,714 (*) Interbank loans are presented gross. The amount of allowances corresponds to MCh$239. (**) Loans and accounts receivable from customers at amortized cost are presented gross. Allowances by loan type are detailed as follows: Commercial MCh$545,119; Mortgage MCh$78,501; and Consumer MCh$256,417. |
Foreign currency position
Foreign currency position | 12 Months Ended |
Dec. 31, 2020 | |
Text block [Abstract] | |
Foreign currency position | Note 38 - Foreign currency position In the Consolidated Statements of Financial Position as of December 31, 2020 and 2019, assets and liabilities are included in local and foreign currency, as well as inflation-indexation adjustable and adjustable by the variation of the exchange rate, for the amounts indicated below: Others Exchange rate As of December 31, 2020 Note CLP (*) UF USD COP EUR currency adjustable Totals MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Cash and deposits in banks 5a) 1,232,614 — 1,501,888 294,522 28,315 31,733 — 3,089,072 Cash items in process of collection 5b) 110,503 — 61,819 93 9 768 — 173,192 Financial instruments at fair value through profit or loss 6 145,316 355 — 437,039 — — — 582,710 Financial instruments at fair value through other comprehensive income 11 2,556,706 696,307 103,503 614,383 — — — 3,970,899 Loans and accounts receivable at amortized cost 10 5,768,428 8,959,138 2,859,253 3,955,993 23,704 — 9,592 21,576,108 Financial instruments at amortized cost 11 — — 7,202 104,340 — — — 111,542 Investments under resale agreements 7 84,173 — — 21,407 — — — 105,580 Investments in companies 7,149 — — — — — — 7,149 Financial derivative contracts 8 2,529,980 387,035 1,039,536 19,967 6,285 — — 3,982,803 Interbank loans, net 9 — — 7,121 — — — — 7,121 Intangible assets 13 682,523 — 172 35,988 — — — 718,683 Property, plant, and equipment 14 56,274 — 482 23,859 — — — 80,615 Right-of-use asset under lease agreements 15 111,452 — 6,061 28,495 — — — 146,008 Current taxes 16 43,132 — 1,844 19,723 — — — 64,699 Deferred taxes 16 250,023 — 14,645 47,888 — — — 312,556 Other assets 17 87,378 11,883 388,141 54,961 — — 270 542,633 Other non-current assets held for sale 17 13,269 — — 1,809 — — — 15,078 TOTAL ASSETS 13,678,920 10,054,718 5,991,667 5,660,467 58,313 32,501 9,862 35,486,448 Deposits and other demand liabilities 18 3,186,296 13,448 737,892 2,238,247 21,435 88 — 6,197,406 Cash in process of being cleared 5b) 82,287 — 52,244 1 1,528 18,172 — 154,232 Obligations under repurchase agreements 7 399,593 — — 239,258 — — — 638,851 Time deposits and other time liabilities 18 8,042,117 402,118 1,539,760 1,449,054 14 — 1 11,433,064 Financial derivative contracts 8 2,031,193 476,910 986,508 170,598 8,382 — — 3,673,591 Interbank borrowings 19 2,257,226 — 1,384,248 47,768 368 109,368 — 3,798,978 Debt instruments issued 20 835,961 4,636,431 122,734 609,730 — — — 6,204,856 Other financial liabilities 20 13,123 — — — — — — 13,123 Lease contracts liabilities 15 561 118,189 6,987 25,992 — — 156 151,885 Current taxes 16 596 — — 1,170 — — — 1,766 Deferred taxes 16 — — — 237 — — — 237 Provisions 21 84,190 — 5,814 45,086 — — — 135,090 Other liabilities 22 175,812 159,834 274,827 79,442 66 — 10,053 700,034 Liabilities directly associated with non-current assets held for sale 22 — — — — — — — — TOTAL LIABILITIES 17,108,955 5,806,930 5,111,014 4,906,583 31,793 — 127,628 10,210 33,103,113 Assets (liabilities) net (3,430,035) 4,247,788 880,653 753,884 26,520 (95,127) (348) 2,383,335 (*) Includes transactions denominated in foreign currencies but that are settled in pesos. Note 38 - Foreign currency position, continued Others Exchange rate As of December 31, 2019 Note CLP (*) UF USD COP EUR currency adjustable Totals MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Cash and deposits in banks 5a) 243,754 — 364,594 398,780 2,553 — — 1,009,681 Cash items in process of collection 5b) 150,463 — 80,132 710 — — — 231,305 Financial instruments at fair value through profit or loss 6 112,224 — — 71,478 — — — 183,702 Financial instruments at fair value through other comprehensive income 11 1,600,147 1,023,726 124,310 850,707 — — — 3,598,890 Loans and accounts receivable at amortized cost 10 5,678,458 8,749,298 3,459,607 4,355,845 841 — 10,648 22,254,697 Financial instruments at amortized cost 11 — — 30,123 85,535 — — — 115,658 Investments under resale agreements 7 46,686 — — 29,289 — — — 75,975 Investments in companies 5,833 — — 3,772 — — — 9,605 Financial derivative contracts 8 2,199,266 324,414 536,936 93,427 914 — — 3,154,957 Interbank loans, net 9 — — 35,944 20,452 — — — 56,396 Intangible assets 13 1,400,449 — 1,104 172,880 — — — 1,574,433 Property, plant, and equipment 14 72,766 — 422 21,892 — — — 95,080 Right-of-use asset under lease agreements 15 121,241 — 7,936 38,264 — — — 167,441 Current taxes 16 30,773 — — 54,743 — — — 85,516 Deferred taxes 16 182,302 — 20,942 5,413 — — — 208,657 Other assets 17 248,755 91,456 359,198 71,182 — — 270 770,861 Other non-current assets held for sale 17 17,202 — — — — — — 17,202 TOTAL ASSETS 12,110,319 10,188,894 5,021,248 6,274,369 4,308 — 10,918 33,610,056 Deposits and other demand liabilities 18 2,255,736 2,855 534,005 2,079,465 1,387 — — 4,873,448 Cash in process of being cleared 5b) 100,395 — 64,178 — — — — 164,573 Obligations under repurchase agreements 7 499,136 — — 60,321 — — — 559,457 Time deposits and other time liabilities 18 7,952,973 391,679 1,356,132 1,919,402 — — 1 11,620,187 Financial derivative contracts 8 1,960,447 402,899 476,568 97,212 908 — — 2,938,034 Interbank borrowings 19 — — 2,563,630 83,126 — — — 2,646,756 Debt instruments issued 20 763,503 4,924,260 129,281 590,471 841 — — 6,408,356 Other financial liabilities 20 12,956 10 — — — — — 12,966 Lease contracts liabilities 15 659 129,034 7,689 35,273 — — 269 172,924 Current taxes 16 13 — — — — — — 13 Deferred taxes 16 — — — 263 — — — 263 Provisions 21 106,456 — — 71,371 — — — 177,827 Other liabilities 22 265,814 268,685 115,196 54,446 — — 4,773 708,914 Liabilities directly associated with non-current assets held for sale 22 — — — — — — — — TOTAL LIABILITIES 13,918,088 6,119,422 5,246,679 4,991,350 3,136 — 5,043 30,283,718 Assets (liabilities) net (1,807,769) 4,069,472 (225,431) 1,283,019 1,172 — 5,875 3,326,338 |
Subsequent events
Subsequent events | 12 Months Ended |
Dec. 31, 2020 | |
Text block [Abstract] | |
Subsequent events | Note 39 - Subsequent events Discontinuation of the net investment in Itaú Corpbanca Colombia hedge During January 2021, by decision of Management, the hedge of net investment in Itaú Corpbanca Colombia was discontinued. The impact of discontinuing the hedge relationship was reclassified from valuation accounts to reserves, without generating an effect on the Consolidated Statement of Income. Changes in the Board of Directors In ordinary session held on January 27, 2021, the Board of Directors of Itaú Corpbanca was informed and resolved to accept the resignation of director Mr. Caio Ibrahim David, effective as of the same date. In his replacement, the Board of Directors agreed to appoint Mr. Matias Granata, who served as a director until the Annual Ordinary Shareholder’s Meeting held on March 18, 2021 and was elected as a director in the same meeting. New alliance between Itaú and Rappi On March 29, 2021 the Bank announced to the market and communicated to the SEC a new alliance with Rappi, as part of our digital transformation strategy. This agreement aims to revolutionize the local financial market with simple, innovative and unique digital products, allowing an increasing number of individuals to access new financial solutions in an agile and digital way. Itaú and Rappi expect the new offer of digital financial products and services to be available during the third quarter of 2021, through the new business model resulting from this alliance. Others Between January 1 and April 22, 2021, the date of issuance of these Consolidated Financial Statements, there have been no other events after the reporting period that could affect the presentation and results of the financial statements. Roxana Zamorano Gabriel Moura Chief Accounting Officer Chief Executive Officer |
General Information and Summa_2
General Information and Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of voluntary change in accounting policy [line items] | |
Accounting period | a) Accounting period The Consolidated Financial Statements are referred as of December 31, 2020 and 2019 and comprise the years ended December 31, 2020, 2019 and 2018. |
Basis of preparation of the Consolidated Financial Statements | a) Basis of preparation of the Consolidated Financial Statements These Consolidated Financial Statements have been prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board (“IFRS-IASB”). Notes to these Consolidated Financial Statements contain information additional to that disclosed in the Consolidated Statements of Financial Position, Consolidated Statements of Income, Consolidated Statements of Other Comprehensive Income, Consolidated Statements of Changes in Equity, and Consolidated Statements of Cash Flows. 1. “Business Combinations” , in which Banco Itaú Chile is the successor for accounting purposes and Corpbanca is the legal successor. |
Consolidation criteria | a) Consolidation criteria These Consolidated Financial Statements comprise the preparation of the Financial Statements of the Bank and the controlled entities which participate in the consolidation as of December 31, 2020 and 2019 and for the years ended December 31, 2020, 2019 and 2018, and include the necessary adjustments and reclassifications to standardize the accounting policies and valuation criteria applied by the Bank, in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board (“IFRS-IASB”). Intercompany balances and any unrealized income or loss arising from intercompany transactions are eliminated upon consolidation during the preparation of the Consolidated Financial Statements. (i) Controlled entities The Bank, regardless of the nature of its involvement with an entity (the investee), shall determine whether it is a parent by assessing whether it controls the investee. The Bank controls an investee when it is exposed, or has rights, to variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee. Thus, the Bank controls an investee if and only if has all the following: 1) Power over the investee, which is related to the existing rights that give the Bank the current ability to direct the relevant activities, these being those that significantly affect the investee’s returns; 2) Exposure, or rights, to variable returns from its involvement with the investee; 3) Ability to use its power over the investee to affect the amount of the Bank’s returns; When the Bank has less than a majority of the voting rights over an investee, but such voting rights are sufficient to have the actual ability to direct the relevant activities, then it will be concluded that the Bank has control over the investee. The Bank considers all relevant factors and circumstances when assessing if the voting rights are sufficient to obtain control, these include: · The amount of voting rights held by the Bank in relation to the amount and dispersion of those held by other vote holders. · Potential voting rights held by the Bank, other voting holders or other parties. · Rights that arise from other contractual agreements. · Any additional facts and circumstances that indicate that the Bank has, or does not have, the current ability to direct the relevant activities at the time those decisions need to be made, including the patterns of voting behavior in previous shareholders meetings. The Bank reassesses whether or not it has control over an investee when facts and circumstances indicate that there are changes in one or more of the control elements listed above. Note 1 – General Information and Summary of Significant Accounting Policies, continued The financial statements of the controlled companies are consolidated with those of the Bank through the global integration method (line by line). In accordance with this method, all balances and transactions between consolidated companies are eliminated upon consolidation. Therefore, the Consolidated Financial Statements refer to assets, liabilities, equity, income, expenses, and cash flows of the parent and its subsidiaries presented as if they were a single economic entity. The Bank prepares Consolidated Financial Statements using uniform accounting policies for transactions and other events that, being similar, have occurred in similar circumstances. The following table details the entities controlled by Itaú Corpbanca: Ownership percentage Functional As of December 31, 2020 As of December 31, 2019 Market Country currency Direct Indirect Total Direct Indirect Total % % % % % % Itaú Corredores de Bolsa Limitada (1) National Chile $ Itaú Administradora General de Fondos S.A. (1) Chile $ Itaú Corredores de Seguros S.A. (1) Chile $ Itaú Asesorías Financieras Limitada (1) (7) Chile $ Recaudaciones y Cobranzas Limitada (1) (6) Chile $ Itaú Corpbanca New York Branch (1) (5) Foreign USA US$ — — Itaú Corpbanca Colombia S.A. (2) (8) Colombia COP$ — — Itaú Corredor de Seguro Colombia S.A. (2) Colombia COP$ — — Itaú Securities Services Colombia S.A. (2) (10) (11) Colombia COP$ Itaú Comisionista de Bolsa Colombia S.A (2) (12) Colombia COP$ Itaú Asset Management Colombia S.A. Sociedad Fiduciaria (2) Colombia COP$ — — Itaú (Panamá) S.A. (3) Panama US$ — — Itaú Casa de Valores S.A (4) (9) Panama US$ — — — — (1) Companies regulated by the Commission for the Financial Market, hereinafter CMF (formerly Superintendency of Securities and Insurance – SVS). (2) Companies regulated by the Colombian Financial Superintendency (SFC), which has a supervision agreement with the CMF. (3) Company regulated by the Superintendency of Banks of Panama. (4) Company regulated by the Superintendency of the Securities Market of Panama. (5) Company regulated by the Office of the Comptroller of the Currency (OCC) and the Federal Reserve (FED). (6) On May 2, 2019, Itaú Corpbanca Recaudaciones y Cobranzas S.A (Instacob) acquired from Itaú Corredores de Bolsa its participation in Itaú Asesorías Financieras. (7) On May 2, 2019 Itaú Asesoría Financieras modifies its legal statute turning from a public company (S.A.) to a private limited company. (8) On December 3, 2019 Itaú Corpbanca completed the acquisition of Itaú Corpbanca Colombia shares owned by Helm LLC and Kresge Stock Holding Company Inc. (9) On January 23, 2020, Itaú Comisionista de Bolsa Colombia S.A., a subsidiary of Itaú Corpbanca Colombia S.A., completed the process of selling its participation (100%) held in Itaú Casa de Valores S.A., domiciled in Panama. (10) On July 8, 2020, Recaudaciones y Cobranza Ltda. acquired 1 share of Itaú Securities Services Colombia S.A. for the price of US$2.29 equivalent to Ch$1.799 pesos. (11) On July 8, 2020, Itaú Asesorías Financieras Ltda. acquired 1 share of Itaú Securities Services Colombia S.A. for the price of US$2.29 equivalent to Ch$1.799 pesos. (12) On July 8, 2020, Itaú Asesorías Financieras Ltda. acquired 6 shares of Itaú Comisionista de Bolsa S.A. for the price of US$7.19 equivalent to Ch$5.648 pesos. Note 1 – General Information and Summary of Significant Accounting Policies, continued (ii) Associates Associated entities are those over which the Bank has significant influence; although not control or joint control. If the Bank holds, directly or indirectly (e.g. through subsidiaries), 20% or more of the voting power of the investee, it is presumed that the Bank has significant influence, unless it can be clearly demonstrated that this is not the case, and subsequently increased or decreased to recognize either the Bank’s proportional share in the net profit or loss of the associate and other movements recognized in its equity. The lower value arising from the acquisition of an associate is included in the book value of the investment net of any accumulated impairment loss. Other factors considered to determine the significant influence on an entity are the representations in the Board of Directors and the existence of material transactions. The existence of these factors could determine the existence of significant influence on an entity, despite having a participation of less than 20% of the shares with the right to vote. The following entities are classified as “Associates”, were the Bank has an interest and are accounted for using the equity method, according to IAS 28: As of December 31, As of December 31, Associate Main Operation Operation Place 2020 2019 % Share % Share Nexus S.A Credit and debit card operator Santiago, Chile 14.8148 % 12.9000 % Transbank S.A Credit card operator Santiago, Chile 8.7188 % 8.7188 % Itaú Corpbanca exercises significant influence by virtue of its voting right to appoint a representative in the Board of Directors for each one of these entities. This, among other business considerations, led management to conclude that, in 2019, Itaú Corpbanca gained significant influence over the aforementioned entities. (iii) Shares or rights in other companies are those in which the Bank has no control or significant influence. Such holdings are recorded at fair value through profit and loss or at fair value through other comprehensive income, when the Bank has irrevocably elected at initial recognition to recognize in this category, without recycling to profit or loss, according to IFRS 9 “Financial instruments” . (iv) The Bank and its subsidiaries manage assets held in publicly offered investment funds and other investment vehicles on behalf of investors and receive market-rate compensation for providing this type of services. Managed funds belong to third parties and, therefore, are not included in the Consolidated Statement of Financial Position. The Bank provides trust commissions and other fiduciary services that result in the participation or investment of assets by clients. Assets held in a fiduciary activity are not reported in the Consolidated Financial Statements, since they are not Bank assets and there is no control over them. Contingencies and commitments arising from this activity are disclosed in Note 23 - Contingencies, Commitments, and Responsibilities, letter c), related to Responsibilities recorded in off-balance-sheet accounts. Note 1 – General Information and Summary of Significant Accounting Policies, continued In accordance with IFRS 10 “ Consolidated Financial Statements ,” for consolidation purposes, the role of the Bank and its subsidiaries with respect to the managed funds must be evaluated to determine whether it is acting as Agent or Principal. According to this standard, an Agent is a party primarily engaged in acting on behalf and for the benefit of another party or parties (the Principal or Principals) and, therefore, it does not control the investee when it exercises decision-making authority. This evaluation must take into account the following aspects: · Scope of its decision-making authority over the investee. · Rights held by other parties · The remuneration to which it is entitled to in accordance with the remuneration agreements. · Decision-maker’s exposure to variability of returns from other interests that it holds in the investee. The Bank does not control or consolidate any trusts or other entities related to this type of business. The Bank manages the funds on behalf and for the benefit of investors, acting solely as an Agent. The assets managed by the Bank and its subsidiaries are owned by third parties. Under this category, and in accordance with the aforementioned standard, they do not control the assets when they exercise their decision-making authority. Therefore, as of December 31, 2020 and 2019 they act as Agent and none of these investment vehicles is consolidated. |
Non-controlling interest | d) Non-controlling interest Non-controlling interest represents the portion of net income or loss and net assets which the Bank does not own, either directly or indirectly. It is disclosed as “Attributable to non-controlling interest” separately in the Consolidated Statement of Income (Loss). Additionally, non-controlling interests are presented in the Consolidated Statement of Financial Position under the heading "Non-controlling interest", separately from the equity attributable to owners of the Bank. Changes in a parent’s ownership interest in a subsidiary that do not result in a loss of control are equity transactions (i.e. transactions with owners in their capacity as owners). The Bank attributes the profit or loss for the period and each component of other comprehensive income to the owners of the Bank and to non-controlling interests. The Bank also attributes total comprehensive income to the owners of the Bank and non-controlling interests even if the results of the non-controlling interests result in a debit balance. |
Business combination and goodwill | e) Business combination and goodwill Business combinations are accounted for using the acquisition method. The consideration transferred in a business combination is measured at fair value, which is calculated as the sum of the acquisition-date fair values of the assets transferred by the Bank, liabilities incurred by the Bank to the former owners of the acquiree and the equity interests issued by the Bank in exchange for control of the acquiree. Acquisition costs incurred are expensed and included in administrative expenses. When Itaú Corpbanca and its subsidiaries (the Group) acquires a business, evaluates the identifiable assets acquired and liabilities assumed to determine proper classification and designation based on contractual conditions, economic circumstances, and other relevant conditions as of the acquisition date. This includes the assessment of whether an embedded derivative should be separated from a host contract in accordance with IFRS 9. Note 1 – General Information and Summary of Significant Accounting Policies, continued Goodwill, defined as the difference between the consideration transferred and the amount recognized for the non-controlling interest in the net identifiable assets acquired and liabilities assumed, is measured initially at cost. If this consideration is less than the fair value of the net assets of the acquired subsidiary, the difference is recognized directly in profit or loss as of the acquisition date. After initial recognition, goodwill is measured at cost less any accumulated impairment losses. Goodwill acquired in a business combination is assigned, from the date of acquisition, to each of the Group’s cash generating units (CGU) (or group of CGUs) that are expected to benefit from the combination, independently of whether other assets or liabilities of the acquiree are assigned to those units. When goodwill is allocated to a CGU (or group of CGUs) and an operation within that unit is sold, the goodwill associated with that operation is included in the carrying amount of the operation sold when determining the gain or loss on disposal. Goodwill that is derecognized under such circumstances is measured on the basis of the relative values of the operation disposed of and the retained portion of the CGU (or group of CGUs). |
Functional and presentation currency | f) Functional and presentation currency The Bank has defined as its functional and presentation currency the Chilean peso, which is the currency of the primary economic environment in which the Bank operates and the currency that influences its costs and revenue structure. Therefore, all balances and transactions denominated in currencies other than the Chilean peso are treated as "foreign currency". The Bank translates accounting records of its New York branch and subsidiaries in Colombia and Panama into Chilean pesos from US dollars and Colombian pesos, as applicable, in accordance with IAS 21 "Effects of the Variations in the Exchange Rates of the Foreign Currency" . All amounts in the Consolidated Statements of Income, Consolidated Statements of Other Comprehensive Income and the Consolidated Statements of Financial Position are translated into Chilean pesos according to the exchange rate indicated in letter g) below. None of the markets in which Itaú Corpbanca and its subsidiaries operate qualify as a hyperinflationary economy. |
Foreign currency | g) Foreign currency Transactions in foreign currency are initially recorded by the Bank at the exchange rates of their respective functional currencies at the date these transactions first meet the conditions for their recognition. Monetary assets and liabilities denominated in foreign currency are converted at the closing exchange rate of the functional currency in force at the closing date of the reporting period. All differences arising from the settlement or conversion of monetary items are recorded in income, except for those that correspond to monetary items that are part of the hedge of a net investment in a foreign operation, for which the cumulative difference is recorded in equity and subsequently reclassified to profit and loss (on disposal). Tax effects attributable to the exchange differences on such monetary items are also recorded in Other Comprehensive Income. Non-monetary items in foreign currency, which are measured in terms of historical cost, are converted using the exchange rate on the date of the transaction. Non-monetary items that are measured at their fair value in foreign currency are translated using the exchange rates on the date on which that fair value is measured. Gains or losses arising from the translation of non-monetary items measured at their fair value are recognized based on how the gains and losses arising from the change in fair value are recognized in Other Comprehensive Income or in Income, in accordance with IAS 21. Note 1 – General Information and Summary of Significant Accounting Policies, continued The Bank grants loans and receives deposits in amounts denominated in foreign currency, mainly in US dollars and Colombian pesos. Balances in the financial statements of the consolidated entities whose functional currency is different from the Chilean peso are converted into the presentation currency, according to the following criteria: · Assets and liabilities, by using exchange rates as of the date of the Consolidated Financial Statements. · Income and expenses and cash flows, by using the exchange rates as of the date of each transaction. Exchange differences arising from translating balances into functional currencies of the consolidated entities other than Chilean pesos into Chilean pesos, are recorded as "Exchange differences" in Equity under the line item "Valuation accounts", until they meet the derecognition criteria for the Consolidated Statement of Financial Position, and is subsequently recorded in profit or loss. The net amount of foreign exchange gains and losses includes the recognition of the effects of changes in the exchange rates over assets and liabilities denominated in foreign currencies and gains and losses arising from exchange rates changes affecting current and future transactions (highly probable transactions) entered into by the Bank. Assets and liabilities in foreign currencies are shown at their equivalent amount in Chilean pesos, calculated using the exchange rate of $710.73 per US$1 (US dollar) as of December 31, 2020 ($748.77 as of December 31, 2019 and $694.73 as of December 31, 2018) and the exchange rate of $0.2078 per COP$1 (Colombian peso) as of December 31, 2020 ($0.2284 as of December 31, 2019 and $0.2139 as of December 31, 2018). The financial statements of the New York branch, as well as the Colombian and Panamanian subsidiaries, have been translated using these exchange rates for consolidation purposes, in accordance with IAS 21, related to the valuation of investments abroad in countries with stable economies. |
Use of estimates and judgments | h) Use of estimates and judgments The preparation of the Consolidated Financial Statements requires the Bank’s management to make estimates, judgments and assumptions that affect the application of the accounting policies and the reported balances of assets and liabilities, disclosures of contingencies with respect to assets and liabilities as of the date of the Consolidated Financial Statements, as well as income and expenses during the year. Actual results may differ from these estimates. Estimates and relevant assumptions are regularly reviewed by Management in order to properly measure some assets, liabilities, income, and expenses. Accounting estimates changes due to reviews are recognized in the year in which the estimate is reviewed and in any future period affected. In certain cases, International Financial Reporting Standards requires that assets and liabilities be recorded or disclosed at their fair values. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction in the principal (or most advantageous) market at the measurement date under current market conditions (i.e. an exit price) regardless of whether that price is directly observable or estimated using another valuation technique. When market prices in active markets are available, they have been used as a basis for valuation. When market prices in active markets are not available, the Bank has estimated those values as values based on the best available information, including the use of modeling and other valuation techniques. Note 1 – General Information and Summary of Significant Accounting Policies, continued The Bank has established allowances to cover expected credit losses over its loan portfolio and other financial assets. These allowances must be regularly reviewed taking into consideration factors such as changes in the nature and volume of the loan portfolio, trends in forecasted portfolio quality, credit quality and economic conditions that may adversely affect the borrowers’ ability to pay. Increases in the allowances for loan losses are reflected as “Provision for loan losses” in the Consolidated Statement of Income (Loss). Loans are charged-off when the Bank’s management determines that a loan or a portion thereof is impaired. Charge-offs are recorded as a reduction of the allowance for loan losses. In particular, information on significant areas of estimate due to uncertainties and critical judgments in the application of accounting policies that have the most important effect on the amounts recorded in the Consolidated Financial Statements are the following: · Allowances for loan losses · Fair value of financial assets and liabilities · Contingencies and commitments · Impairment losses of certain assets, including Goodwill · Current taxes and deferred taxes Due to changes in the macroeconomic environment during the last year, adjustments have been made to the estimates of allowances for credit risk (see Note 36) and impairment losses on Goodwill (see Note 32). During the year ended December 31, 2020, there were no other significant changes in estimates made at the end of 2019. |
Operating segments | i) Operating segments The Bank provides financial information for each operating segment in conformity with IFRS 8 “Operating Segments” in order to disclose information that enables financial statement users to evaluate the nature and financial effects of the business activities in which the Bank engages and the economic environments in which it operates and to allow them to: · Better understand the Bank’s performance. · Better evaluate its future cash flow projections. · Form better opinions regarding the Bank as a whole. To comply with IFRS 8, Itaú Corpbanca identifies operating segments (Chile and Colombia) used by the Executive Committee, which is defined as the chief operating decision maker, to analyze and make decisions regarding operating, financing and investment matters, based on the following elements: (1) The nature of the products and services; (2) The nature of the processes; (3) The type or class of customer for their products and services; (4) The methods used to distribute their products or provide their services; and (5) If applicable, the nature of the regulatory environment, for example, banking, insurance or public utilities. The Executive Committee manages these segments using an in-house system of internal profitability reports and reviews its segments on the basis of the operating results and uses efficiency, profitability and other indicators to evaluate performance and allocate resources. The Bank has also included geographic disclosures on its operations in New York and Colombia. More information on each segment is presented in Note 4 - Reporting Segments. |
Operations with repurchase and resale agreements | j) Operations with repurchase and resale agreements Transactions with resale agreements are entered into as a form of investment. Under these agreements, financial instruments are sold, which are included as assets under "Investments under resale agreement” and are accounted for at amortized cost using the effective interest rate of the agreement. There are also sales transactions with a repurchase agreement as a form of financing. In this regard, the investments that are sold subject to a repurchase obligation and that serve as collateral for the loan, form part of the investment items of "Financial instruments at fair value through profit or loss" or "Financial instruments at fair value through profit or loss". The obligation to repurchase the investment is classified in liabilities as "Repurchase agreements and securities loans", recognizing interest and inflation-indexation adjustments accrued as of the closing date. |
Derivatives and hedging activities | l) Derivatives and hedging activities The Bank has elected to continue applying the hedge accounting requirements of IAS 39 on adoption of IFRS 9. For presentation purposes, derivatives are presented in accordance with its positive or negative fair value as assets or liabilities, respectively, and include trading and hedging instruments separately (see Note 8). Hedging transactions The Bank has elected to continue applying the hedge accounting requirements in IAS 39 instead of the requirements of IFRS 9, thus the Bank uses financial derivatives for the following purposes: i. ii. iii. All financial derivatives that are not held for hedging purposes are accounted for as trading derivatives. A derivative qualifies for hedge accounting if all the following conditions are met: i. a. Note 1 – General Information and Summary of Significant Accounting Policies, continued b. c. ii. a. b. iii. The changes in the value of financial instruments qualifying for hedge accounting are recorded as follows: a. b. c. d. If a derivative designated as a hedging instrument no longer meets the conditions described above due to expiration, ineffectiveness or for any other reason, hedge accounting treatment is discontinued. When “fair value hedging” is discontinued, the fair value adjustments to the carrying amount of the hedged item arising from the hedged risk are amortized to gain or loss from that date, where applicable. Sources of hedge ineffectiveness may arise from basis risk, including but not limited to the discount rates used for calculating the fair value of derivatives, hedges using instruments with a non-zero fair value, and notional and timing differences between the hedged items and hedging instruments. When cash flow hedges are discontinued, any cumulative gain or loss of the hedging instrument recognized under “Other comprehensive income (loss)” (from the period when the hedge was effective) remains recorded in equity until the hedged transaction occurs, at which time it is recorded in the Consolidated Statements of Income, unless the transaction is no longer expected to occur, in which case any cumulative gain or loss is recorded immediately in the Consolidated Statement of Income (Loss). Note 1 – General Information and Summary of Significant Accounting Policies, continued |
Fair value measurement | m) Fair value measurement In general, financial assets and liabilities are initially recognized at fair value which, in the absence of evidence to the contrary, is deemed to be the transaction price. Financial instruments, other than those measured at fair value through profit or loss, are initially recognized at fair value plus transaction costs. Subsequently, and at the end of each reporting period, financial instruments are measured pursuant to the following criteria: (i) Valuation of financial instruments Financial assets are measured according to their fair value, gross of any transaction costs that may be incurred in the course of a sale, except for loans and accounts receivable from customers. According to IFRS 13 “Fair Value Measurement”, “Fair value” is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When measuring fair value an entity shall take into account the characteristics of the asset or liability if market participants would take those characteristics into account when pricing the asset or liability at the measurement date. The fair value measurement assumes that the transaction to sell the asset or transfer the liability takes place either: (a) in the principal market for the asset or liability, or (b) in the absence of a principal market, the most advantageous market for the asset or liability. Even when there is no observable market to provide pricing information in connection with the sale of an asset or the transfer of a liability at the measurement date, the fair value measurement shall assume that the transaction takes place, considered from the perspective of a potential market participant who intends to maximize value associated with the asset or liability. When using valuation techniques, the Bank shall maximize the use of relevant observable inputs and minimize the use of unobservable inputs as available. If an asset or a liability measured at fair value has a bid price and an ask price, the price within the bid-ask spread that is most representative of fair value in the circumstances shall be used to measure fair value regardless of where the input is categorized within the fair value hierarchy (i.e. Level 1, 2 or 3). IFRS 13 establishes a fair value hierarchy that categorizes into three levels the inputs to valuation techniques used to measure fair value. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities (Level 1 inputs) and the lowest priority to unobservable inputs (Level 3 inputs). All derivatives are recorded in the Consolidated Statements of Financial Position at the fair value previously described. This value is compared to the valuation as at the trade date. If the fair value is subsequently measured positive, this is recorded as an asset. If the fair value is subsequently measured negative, this is recorded as a liability. The fair value on the trade date is deemed, in the absence of evidence to the contrary, to be the transaction price. The changes in the fair value of derivatives from the trade date are recorded in “Net income (expense) from financial operations” in the Consolidated Statement of Income. Note 1 – General Information and Summary of Significant Accounting Policies, continued Specifically, the fair value of financial derivatives included in the portfolios of financial assets or liabilities held for trading is deemed to be their daily quoted price. If, for exceptional reasons, the quoted price cannot be determined on a given date, the fair value is determined using similar methods to those used to measure over the counter (OTC) derivatives. The fair value of OTC derivatives is the sum of the future cash flows resulting from the instrument, discounted to present value at the date of valuation (“present value” or “theoretical close”) using valuation techniques commonly used by the financial markets: “net present value” (NPV) and option pricing models, among other methods. Also, within the fair value of derivatives are included Credit Valuation Adjustment (CVA) and Debit Valuation Adjustment (DVA), all with the objective that the fair value of each instrument includes the credit risk of its counterparty and Bank’s own risk. The Credit valuation adjustment (CVA) is a valuation adjustment to OTC derivatives as a result of the risk associated with the credit exposure assumed by each counterparty. The CVA is calculated taking into account potential exposure to each counterparty in each future period. The debit valuation adjustment (DVA) is a valuation adjustment similar to the CVA but, in this case, it arises as a result of the Bank’s own risk assumed by its counterparties in OTC derivatives. (ii) Valuation techniques Financial instruments at fair value, determined on the basis of price quotations in active markets, include government debt securities, private sector debt securities, equity shares, short positions, and fixed-income securities issued. In cases where price quotations cannot be observed in available markets, the Bank’s management determines a best estimate of the price that the market would set using its own internal models. In most cases, these models use data based on observable market parameters as significant inputs however for some valuations of financial instruments, significant inputs are unobservable in the market. To determine a value for those instruments, various techniques are employed to make these estimates, including the extrapolation of observable market data. The most reliable evidence of the fair value of a financial instrument on initial recognition usually is the transaction price, however due to lack of availability of market information, the value of the instrument may be derived from other market transactions performed with the same or similar instruments or may be measured by using a valuation technique in which the variables used include only observable market data, mainly interest rates. The main techniques used as of December 31, 2020 and 2019 by the Bank’s internal models to determine the fair value of the financial instruments are as follows: i. ii. iii. Note 1 – General Information and Summary of Significant Accounting Policies, continued The fair value of the financial instruments calculated by the aforementioned internal models considers contractual terms and observable market data, which include interest rates, credit risk, exchange rates, quoted market price of shares, volatility and prepayments, among others. The Bank’s management considers that its valuation models are not significantly subjective, since these methodologies can be adjusted and evaluated, as appropriate, through the internal calculation of fair value and the subsequent comparison with the related actively traded price. |
Recognizing income and expenses | n) Recognizing income and expenses The most significant criteria used by the Bank to recognize its revenues and expenses are summarized as follows: (i) Interest income, interest expense, and similar items Interest income and expense are recorded on an accrual basis using the effective interest method. Interest income is calculated by applying the effective interest rate to the gross carrying amount of financial assets, except for financial assets that have subsequently become credit-impaired (or ‘stage 3’), for which interest revenue is calculated by applying the effective interest rate to their amortized cost (i.e. net of the ECL provision). (ii) Dividends received Dividends received from investments in other companies are recognized on income when the right to receive them arises and are recorded in the item “Income from investments in companies”. (iii) Commissions, fees, and similar items Fee and commission income and expenses are recognized in the Consolidated Statement of Income (Loss) as set forth on IFRS 15 “Revenue from contracts with customers”, based on the terms of the contract held with customers, excluding amounts collected on behalf of third parties. The Bank recognizes revenue as the performance obligations is fulfilled by transferring a service to a customer; under this definition an asset is transferred when (or as) the customer obtains control of that asset or a services is rendered. The Bank considers the terms of the contract and its customary business practices to determine the transaction price. The transaction price is the amount of consideration to which an entity expects to be entitled in exchange for transferring promised goods or services to a customer, excluding amounts collected on behalf of third parties. The Bank transfers control of a good or service over time and, therefore, satisfies a performance obligation and recognizes revenue over time, and/or the Bank satisfies the performance obligation at a point in time. The main revenues arising from commissions, fees and similar items correspond to: · Fees and commissions for lines of credits and overdrafts: includes accrued fees related to granting lines of credit and overdrafts in checking accounts. · Fees and commissions for guarantees and letters of credit: includes accrued fees in the period relating to granting of guarantee payment for current and contingent third party obligations. · Fees and commissions for card services: includes accrued and earned commissions in the period related to use of credit cards, debit cards and other cards. Note 1 – General Information and Summary of Significant Accounting Policies, continued · Fees and commissions for management of accounts: includes accrued commissions for the maintenance of checking, savings and other accounts · Fees and commissions for collections and payments: includes income arising from collections and payments services provided by the Bank. · Fees and commissions for intermediation and management of securities: includes income from brokerage, placements, administration and securities’ custody services. · Fees and commissions for insurance brokerage fees: includes income arising for insurances distribution. · Other fees and commissions: includes income arising from currency changes, financial advisory, cashier check issuance, placement of financial products and online banking services. The main expenses arising from commissions, fees and similar items correspond to: · Compensation for card operation: includes commission expenses for credit and debit card operations related to income commissions’ card services. · Fees and commissions for securities transactions: includes commissions’ expense for deposits, securities custody service and securities’ brokerage. · Other fees and commissions: includes mainly expenses generated from online services. The Bank has incorporated disaggregated revenue and expense disclosures and reportable segment relationship in Note 26. Additionally, the Bank grants a group of benefits to its cardholders for which, in accordance with IFRS 15, has established provisions enough to comply with its performance obligations when these benefits become enforceable. (iv) Loan arrangement fees Fees that arise as a result of the origination of a loan, mainly application and analysis-related fees, are deferred and charged to the Consolidated Statement of Income (Loss) over the term of the loan. In the case of commitment fees these are immediately recorded in the Consolidated Statement of Income (Loss) when it is unlikely that a specific lending arrangement will be entered into and the loan commitment is not measured at FVTPL. |
Impairment | o) Impairment Assets are acquired or purchased based on the future economic benefits they produce. Accordingly, impairment is recorded when the carrying amount of those assets is lower than the recoverable amount, assets are subject to impairment tests in order to properly reflect the future economic benefits that assets are capable to produce when used by the Bank. The Bank assesses on a forward-looking basis the expected credit losses (ECL) associated with its debt instrument assets carried at amortized cost and FVTOCI and with the exposure arising from loan commitments and financial guarantee contracts. The Bank recognizes a loss allowance for such losses at each reporting date. The measurement of ECL reflects: · An unbiased and probability-weighted amount that is determined by evaluating a range of possible outcomes; Note 1 – General Information and Summary of Significant Accounting Policies, continued · The time value of money; and Reasonable and supportable information that is available without undue cost or effort at the repotting date about past events, current conditions and forecasts of future economic conditions. The Bank follows the criteria described below in order to assess impairment, when applicable: (i) A financial asset, other than those recorded at fair value through profit and loss, is evaluated on each financial statement reporting date in order to determine whether objective evidence of impairment exists. At the end of each reporting period the Bank assesses if objective evidence exist for a financial asset or group of financial assets to be impaired. A financial asset or group of financial assets will be impaired if, and only if, objective evidence of impairment exists as a result of one or more events that occurred after initial recognition of the asset (“event causing the loss”), and this event or events causing the loss have an impact on the estimated future cash flows of a financial asset or group of financial assets. An impairment loss relating to financial assets recorded at amortized cost is calculated as the difference between the recorded amount of the asset and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate. Objective evidence for an asset or group of assets to be impaired includes the following events that cause losses: (i) significant financial difficulties of the issuer or debtor; (ii) noncompliance of the terms of the contract; (iii) the lender, due to economic or legal reasons related to financial difficulties of the debtor, grants waivers or give unusual conditions that will not be granted in normal circumstances; (iv) it is probable that the debtor is in bankruptcy or in another form of financial reorganization; (v) there is no longer a market for the financial asset due to financial difficulties; or (vi) observable data indicates that since initial recognition of a group of financial assets there is a decrease in the estimated future cash flows regardless of individual identification for each asset, including data about: (a) adverse changes in the payment behavior of debtors in the group; or (b) local or national economic conditions correlated to non-compliant in the group. Individually significant financial assets are individually assessed to determine their impairment. The remaining financial assets are collectively evaluated in groups that share similar credit risk characteristics. The ECL for investments measured at FVTOCI do not reduce the carrying amount of these financial assets in the statement of financial position, which remains at fair value. Instead, an amount equal to the allowance that would arise if the assets were measured at amortised cost is recognised in other comprehensive income as an accumulated impairment amount, with a corresponding charge to profit or loss. The accumulated loss recognised in other comprehensive income is recycled to the profit and loss upon derecognition of the assets. If impairment evidence exists, any amount previously recorded in equity is transferred from equity to the Consolidated Statement of Income (Loss), presented as FVTOCI investments net gains or losses. This amount is calculated as the difference between acquisition cost (net of any amortization and reimbursement) and the current fair value of the asset, less any impairment loss on the investment previously recorded in the Consolidated Statement of Income (Loss). Note 1 – General Information and Summary of Significant Accounting Policies, continued In respect to equity financial investments, impairment losses previously recognized in the Consolidated Statement of Income (Loss) are not reversed through income. Any increase in fair value subsequent to an impairment loss is recognized in other comprehensive income and accumulated under FVTOCI as part of “Valuation accounts”. All impairment losses are recorded in income. Any impairment loss relating to a financial asset FVTOCI previously recorded in equity is transferred to profit or loss. The reversal of an impairment loss occurs only if it can be objectively related to an event occurring after the initial impairment loss was recorded. The reversal of an impairment loss shall not exceed the carrying amount that would have been determined if no impairment loss has been recognized for the asset in prior years. The reversal is recorded in income with the exception of FVTOCI equity financial assets, in which case it is recorded in other comprehensive income (loss). (ii) The Bank’s non-financial assets, are reviewed at each reporting date to determine whether they show signs of impairment (i.e. its carrying amount exceeds its recoverable amount). If any such evidence exists, the recoverable amount of the asset is estimated, in order to determine the extent of the impairment loss. If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. An impairment loss is recognized immediately in profit or loss. Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. In connection with other assets, impairment losses recorded in prior periods are assessed at each reporting date to determine whether the loss has decreased and should be reversed. The increased carrying amount of an asset other than goodwill attributable to a reversal of an impairment loss shall not exceed the carrying amount that would have been determined (net of amortization or depreciation) had no impairment loss been recognized for the asset in prior years. Goodwill impairment is not reversed. The Bank shall assess at the end of each reporting period whether there is any indication that an impairment loss recognized in prior periods for an asset other than goodwill may no longer exist or may have decreased. If any such indication exists, the entity shall estimate the recoverable amount of that asset. In assessing whether there is any indication that an impairment loss recognized in prior periods for an asset other than goodwill may no longer exist or may have decreased, an entity shall consider, as a minimum, external sources of information, such as there are observable indications that the asset’s value has increased significantly during the period; significant changes with a favorable effect on the entity have taken place during the period, or will take place in the near future, in the technological, market, economic or legal environment in which the entity operates or in the market to which the asset is dedicated; market interest rates or other market rates of return on investments have decreased during the period, and those decreases are likely to affect the discount rate used in calculating the asset’s value in use and increase the asset’s recoverable amount materially and internal sources of information such as significant changes with a favorable effect on the entity have taken place during the period, or are expected to take place in the near future, in the extent to which, or manner in which, the asset is used or is expected to be used. These changes include costs incurred during the period to improve or enhance the asset’s performance or restructure the operation to which the asset belongs. Note 1 – General Information and Summary of Significant Accounting Policies, continued In the case of goodwill and indefinite useful life intangible assets or not yet available for use the recoverable amount is estimated at least annually. When impairment exists the carrying amount of the asset shall be reduced to its recoverable amount if, and only if, the recoverable amount of an asset is less than its carrying amount. This reduction is an impairment loss. An impairment loss shall be recognized immediately in profit or loss, unless the asset is carried at revalued amount in accordance with another standard. Any impairment loss of a revalued asset shall be treated as a revaluation decrease in accordance with that other standard. When the amount estimated for an impairment loss is greater than the carrying amount of the asset to which it relates, an entity shall recognize a liability if, and only if, that is required by another standard. After the recognition of an impairment loss, the depreciation (amortization) charge for the asset shall be adjusted in future periods to allocate the asset’s revised carrying amount, less its residual value (if any), on a systematic basis over its remaining useful life. If an impairment loss is recognized, any related deferred tax assets or liabilities are determined in accordance with IAS 12 “ Income Taxes ” by comparing the revised carrying amount of the asset with its tax base. Impairment losses recognized in previous years are assessed at the end of each reporting period in order to identify any indication for impairment reduction or disappearance. The increased carrying amount of an asset other than goodwill attributable to a reversal of an impairment loss shall not exceed the carrying amount that would have been determined (net of amortization or depreciation) had no impairment loss been recognized for the asset in prior years. (iii) Goodwill is tested annually in order to determine if impairment losses exist and whenever there is an indication that the carrying value may be impaired. The impairment of goodwill is determined by evaluating the recoverable amount of each CGU (or group of CGUs) to which the goodwill relates. An impairment loss is recognized when the recoverable amount of the CGU is less than its carrying amount. For the purpose of impairment testing, goodwill acquired in a business combination shall, from the acquisition date, be allocated to each of the acquirer’s cash-generating units, or groups of cash-generating units irrespective of whether other assets or liabilities of the acquire are assigned to those units or groups of units. An impairment loss recognized for goodwill shall not be reversed in a subsequent period. According to IAS 36 “ Impairment of Assets ” the annual impairment test for a cash-generating unit to which goodwill has been allocated or for intangible assets with indefinite useful lives may be performed at any time during an annual period, provided the test is performed at the same time every year. Different cash-generating units may be tested for impairment at different times. |
Property, plant and equipment | p) Property, plant and equipment Items of property, plant and equipment are measured at acquisition cost, net of accumulated depreciation and impairment, if any. In addition to the price paid to acquire each item, the cost also includes, where applicable, the capitalized cost. The capitalized cost includes expenses attributed directly to the asset acquisition and any other costs directly attributable to the process of placing the asset in conditions to be used. Note 1 – General Information and Summary of Significant Accounting Policies, continued When some part of an item of the plan and equipment are measured has a different useful life to that fixed asset, it is recognized as a separate component (significant components of plan and equipment are measured). This item includes the amounts of property, land, furniture, vehicles, technological equipment and other facilities own by the consolidated entities or acquired under financial leases. These assets are classified based on their use in: (i) Property, plant and equipment for own use includes but is not limited to tangible assets received by the consolidated entities in full or partial satisfaction of financial assets representing accounts receivable from third parties which are intended to be held for continuing own use and tangible assets acquired under finance leases. These assets are presented at acquisition cost less the related accumulated depreciation and, if applicable, any impairment losses (when net carrying amount was higher than recoverable amount). For accounting purposes, acquisition cost of the received asset is considered to be its net amount. Depreciation is calculated using the straight line method over the acquisition cost of assets less their residual value, assuming that the land on which buildings and other structures stand has an indefinite life and, therefore, is not subject to depreciation. Property, plant and equipment in leased properties are depreciated over the shorter period of time between their useful lives or the term of the lease, unless it is certain that the Bank will acquire the property at the end of the lease. Maintenance expenses relating to tangible assets held for own use are recorded as an expense in the period in which they are incurred. (ii) The criteria used to record the acquisition cost of assets leased out under operating leases, to calculate their depreciation and their respective estimated useful lives, and to record the impairment losses thereof, are consistent with those described in relation to property, plant and equipment held for own use. As of January 1, 2019 the Bank has started to apply IFRS 16 “Leases”, see letter t) in this Note. |
Intangible assets | q) Intangible assets Intangible assets are identified as non-monetary assets (separately identifiable from other assets) without physical substance which arise as a result of legal or contractual rights or it is separable. The Bank recognizes an intangible asset, whether purchased or self-created (at cost), when the cost of the asset can be measured reliably and it is probable that the future economic benefits that are attributable to the asset will flow to the Bank. The cost of intangible assets acquired in a business combination correspond to its fair value at the acquisition date. Intangible assets are recorded initially at acquisition or production cost and are subsequently measured at cost less any accumulated amortization and any accumulated impairment losses. An entity shall assess whether the useful life of an intangible asset is finite or indefinite and, if finite, the length of, or number of production or similar units constituting, that useful life. An intangible asset shall be regarded by the entity as having an indefinite useful life when, based on an analysis of all of the relevant factors, there is no foreseeable limit to the period over which the asset is expected to generate net cash inflows for the entity. Note 1 – General Information and Summary of Significant Accounting Policies, continued The accounting for an intangible asset is based on its useful life. An intangible asset with a finite useful life is amortized over its useful life, and it is reviewed in order to determine if the asset is impaired, the amortization period and the amortization method shall be reviewed at least at each financial year-end. An intangible asset with an indefinite useful life are not amortized and the entity tests for impairment by comparing its recoverable amount with its carrying amount annually and whenever there is an indication that the intangible asset may be impaired. Internally developed computer software is recorded as an intangible asset if, among other requirements (basically the Bank’s ability to use or sell it), it can be identified and its ability to generate future economic benefits can be demonstrated. Expenditure on research activities is recorded as an expense in the year in which it is incurred and cannot be subsequently capitalized. (i) Software acquired by the Bank is recognized at cost less the accumulated amortization and impairment, if any. The expenses in software developed internally are recorded as assets when the Bank is capable of proving its intention and ability to complete development, when internal use will generate future economic benefits, and when the cost of completing its development can be reliably measured. The capitalized costs of the software developed internally include all the direct costs attributable to the development of the software, and it is amortized over the course of its useful life. Software developed internally is recorded at cost less the accumulated amortization and losses from impairment. The subsequent expenditures associated with the asset are capitalized only when future economic benefits from them will flow to the entity. The rest of the expenditures are recognized in income. Intangible assets are amortized on a straight-line basis over their estimated useful life; starting on the date it is ready for use. (ii) According to IFRS 3 “ Business combinations ”, when an intangible asset is acquired or generated in a business combination its cost will be the fair value at the acquisition date. The fair value of an intangible asset represents expectations of market participants at the acquisition date over the probability that future economic benefits from the asset will flow to the entity. In other words, the entity expects that economic benefits flows to it, even though there is uncertainty about the date or the amount of them. As set forth by IAS 38 “ Intangibles assets ” and IFRS 3 “ Business combinations ”, the acquirer will recognize an intangible asset from the acquiree at the acquisition date separately from Goodwill independently if the asset was previously recognized by the acquiree before the business combination. In connection with the aforementioned, the business combination between Banco Itaú Chile and Corpbanca gave rise to intangible assets and Goodwill as indicated in Note 13 Intangible Assets. (iii) Correspond to those intangible assets that can be identified, the Bank controls them, can be reliably measured and it is probable that future benefits will flow to the Bank. |
Factoring transactions | r) Factoring transactions The Bank performs operations with their clients, in which they receive invoices and other credit representative trading instruments with or without recourse to the transferor, anticipating a percentage of the total amount receivable of the borrower upon collection. These transactions are valued at the disbursed amounts by the Bank in exchange for invoices or other credit representative trading instruments. The price differences between the disbursed amounts and the notional amount of the documents are recorded in the Consolidated Statement of Income (Loss) as interest income applying the effective interest rate method, over the term of the transaction. The responsibility of payment remains with the client (assignor). |
Leases | s) Leases As of January 1, 2019 the Bank adopted IFRS 16 “Leases” , using the modified retrospective method and therefore, no comparative information is required; 2018 balances continue to be reported under IAS 17 “Leases” . On the date of commencement of a lease the Bank recognizes a right-of-use asset and a lease liability in accordance with the provisions set forth on IFRS 16 “Leases” . Policy applicable as of January 1, 2019 (i) Right-of-use assets At commencement date, the right-of-use asset is measured at cost. The cost of right-of-use asset includes (a) the amount of the initial measurement of the lease liability; (b) any lease payments made at or before the commencement date, less any lease incentives received; (c) the initial direct costs incurred by the Bank; and (d) an estimate of the costs to be incurred by the Bank in dismantling and disposing of the underlying asset, restoring the place where it is located or restoring the underlying asset to the condition required by the terms and conditions of the lease. After the initial recognition date, the Bank measures the assets by the right of use by applying the cost model, which is defined as the asset by the right of use measured at cost (a) less any accumulated depreciation and any accumulated impairment losses; and (b) adjusted by any new measurement of the lease liability. The Bank applies the depreciation requirements established by IAS 16 "Property, plant and equipment" when depreciating the right of use asset. If the lease transfers ownership of the underlying asset to the Bank at the end of the lease term or if the cost of the right-of-use asset reflects that the Bank will exercise a purchase option, the Bank depreciates the right-of-use asset from the start date of the lease to the end of the useful life of the underlying asset. Otherwise, the Bank depreciates the right-of-use asset from the start date to the end of the useful life of the asset to which it has a right of use or to the end of the lease term, whichever occurs first. The Bank applies IAS 36 "Impairment of assets" to determine whether a right of use asset is impaired and to account for identified impairment losses. As of December 31, 2020, the Bank has not identified any impairment for the right-of-use assets under lease. Note 1 – General Information and Summary of Significant Accounting Policies, continued (ii) Lease liability The Bank measured the lease liability as the present value of lease payments that have not been paid as of that date. Lease payments are discounted using the interest rate implicit in the lease, if that rate can be easily determined. If that rate cannot be readily determined, the Bank uses its incremental borrowing rate (cost of funding). The lease payments included in the measurement of the lease liability comprise the following payments for the right-of-use the underlying asset during the term of the not cancelable at the measurement date, which includes (a) fixed payments, less any lease incentive receivable; (b) variable lease payments, which depend on an index or a rate, recently measured using the index or rate on the start date; (c) it matters that the lessee expects to pay as residual value guarantees; (d) the exercise price of a purchase option if the lessee is reasonably sure to exercise that option; and (e) payments for penalties arising from the termination of the lease, if the term of the lease reflects that the lessee exercises an option to terminate the lease. After the date of initial recognition, the Bank measures the lease liability in order to recognize (a) the interest on the lease liability; (b) lease payments made; and (c) the new measurements or modifications of the lease, and also for fixed lease payments that have essentially been reviewed. The Bank makes new measures of the lease liability discounting the modified lease payments, if (a) there is a change in the expected amounts payable related to a residual value guarantee. A lessee will determine the lease payments to determine the change in the amounts expected to be paid under the residual value guarantee; (b) there will be a change in future lease payments determined from a change in an index or a rate used to determine those payments. The Bank measures the lease liability again to modify the modified lease payments only when there is a change in cash flows. The Bank will determine the revised lease payments, for the remainder of the lease term, based on the revised contractual payments. The rent of the lease agreements is agreed in UF and paid in Chilean pesos. According to that, monthly variation in UF should be treated as a new measurement, and therefore, inflation-indexation adjustments should be recognized as a modification to the obligation and the right-of-use asset. In applying IFRS 16 for the first time, the Bank has used the following practical expedients permitted by the standard: · accounting for operating leases with a remaining lease term of less than 12 months as of January 1, 2019 as short-term leases · excluding initial direct costs for the measurement of the right-of-use asset at the date of initial application. The Bank has also elected not to reassess whether a contract is, or contains a lease at the date of initial application. Instead, for contracts entered into before the transition date, the Bank relied on its assessment made applying IAS 17. Note 1 – General Information and Summary of Significant Accounting Policies, continued As of January 1, 2019, the Bank measured the lease liability at the present value of the lease payments discounted using the incremental interest rate for loans (cost of funding), which was 2.01%. The average incremental interest rate as of December 31, 2019 is 2.04%. Policy applicable prior to January 1, 2019 (i) Finance leases Finance leases are leases that substantially transfer all the risks and rewards incidental to ownership of the leased asset to the lessee. The Bank recognized as lending to third parties under “Loans and accounts receivable from customers” in the Consolidated Statements of Financial Position, the sum of the present value of the lease payments receivable from the lessee, including the exercise price of the lessee’s purchase option at the end of the lease term, when at the inception of the lease it is reasonably certain that the lessee will exercise the option. When consolidated entities acts as lessees, the leased assets are classified based on their nature in the Consolidated Statements of Financial Position, and recognizing an asset and liability at the same amount (the lower between the fair value of the leased property and the present value of the minimum lease payments, plus purchase option). These assets are depreciated in accordance with property, plant and equipment for own use criterion. In both cases, income and expenses arising from these contracts are recorded under “Interest income and expense” in the Consolidated Statement of Income (Loss) to achieve constant return rate over the lease term. (ii) Operating leases In operating leases, the ownership of the leased asset and substantially all the risks and rewards incidental thereto remain with the lessor. When the consolidated entities act as a lessor, the leased assets are classified at their acquisition cost under “Property, plant and equipment”. The depreciation criterion for these assets is consistent with that for similar items of property, plant and equipment held for own use and revenues from operating leases are recorded on a straight-line basis under “Other operating income” in the Consolidated Statement of Income (Loss) . When the consolidated entities act as the lessees, the lease expenses, including any incentives granted by the lessor, are charged on a straight-line basis to “Administrative expenses” in the Consolidated Statement of Income (Loss) . (iii) Sale and leaseback transactions For sale at fair value and operating leasebacks, the profit or loss generated is recorded at the time of the sale except in the case of excess of proceeds over fair value, which is amortized over the period of use of the asset. In the case of finance leasebacks, the profit or loss generated is amortized over the lease term. |
Expected credit losses allowance | t) Expected credit losses allowance The Bank uses an “expected credit loss (ECL)” model. The impairment model applies to all financial assets measured at amortized cost and debt securities measured at fair value through other comprehensive income (FVOCI), including commitment and contingent loans. Investments in equity are outside of the scope of the new impairment requirements. Note 1 – General Information and Summary of Significant Accounting Policies, continued The Bank accounted ECL related to financial assets measured at amortized cost as a loss allowance in the statements of financial position, but the carrying amount of these assets is stated net of the loss allowance. ECL related to contingent loans is accounted for as a provision in the statements of financial position. The Bank recognizes in profit or loss, as an impairment gain or loss, the amount of ECL (or reversal) required to adjust the loss allowance at the reporting date, for financial assets measured at amortized cost and contingent loans. The model uses a dual measurement approach, under which the loss allowance is measured as either: · 12‑month expected credit losses · Lifetime expected credit losses The Bank has defined default on an individual or collective basis as follows: · Individual: when exposure is more than 89 days past due, it has been restructured, it is in judicial collection, or it has been written-off. · Collective: when exposure is more than 89 days past due, it has been restructured, or has been identified as impaired by an internal risk committee. For collective assessment purposes, financial assets are grouped based on characteristics of shared credit risk, considering the type of instrument, credit risk classifications, initial recognition date, remaining term, industry, geographical location of the counterparty, among other significant factors. An instrument is considered to be no longer in default when it no longer meets the default criteria for a consecutive period between 4‑11 months, depending on the type of loan. The ECL measurement basis depends on whether there has been a significant increase in credit risk since initial recognition. Based on changes in credit quality since initial recognition, IFRS 9 outlines a “three-stage” model impairment in accordance with the following diagram: Change in credit quality since initial recognition Stage 1 Stage 2 Stage 3 Initial recognition Significant increase in credit risk (“SICR”) since initial recognition Credit impaired assets 12‑month expected credit losses Lifetime expected credit losses Lifetime expected credit losses The Bank, at the end of each reporting period, evaluates whether a financial instrument’s credit risk has significantly increased since initial recognition or whether an asset is considered to be credit-impaired, and consequently classify financial instrument in the respective stage: · Stage 1: When loans are first recognized, the Bank recognizes an allowance based on 12 months ECL. Stage 1 loans also include facilities where the credit risk has improved and the loan has been returned to Stage 1. · Stage 2: When a loan has shown a significant increase in credit risk since origination, the Bank records an allowance based on lifetime ECL. Stage loans also include facilities where the credit risk has improved and the loan has been returned to stage 2. Note 1 – General Information and Summary of Significant Accounting Policies, continued · Stage 3: Loans considered credit-impaired. The Bank records an allowance based on lifetime ECL, setting the Probability of Default (“PD”) at 100%. The Banks assessment of a SICR and the calculation of ECL both incorporate forward-looking information. The Bank performs historical analysis and identify the key economic variables that impacts credit risk and ECL for each portfolio. These can include GDP, inflation, interest rates, and unemployment, among others. Where applicable, we incorporate these economic variables and their associated impacts into our models. Credit risk assessment and forward looking information (including macro-economic factors), includes quantitative and qualitative information based on the Bank’s historical experience, some examples are: a. b. c. d. e. f. g. The Bank has considered that if contractual payments are more than 30 days past due, the credit risk is deemed to have increased significantly since initial credit recognition, but is not an absolute indicator. The bank did not rebut the backstop presumption of IFRS 9 relating to SICR or default. (i) Expected credit loss measurement The ECL are the probability-weighted estimate of credit losses, i.e. the present value of all cash shortfalls. A cash shortfall is the difference between the cash flows that are due to an entity in accordance with the contract and the cash flows that the entity expects to receive. The three main components to measure the ECL are: PD: The Probability of default is an estimate of the likelihood of default over a given time horizon. A default may only happen at a certain time over the assessed period, if the facility has not been previously derecognized and is still in the portfolio. LGD: The loss given default is an estimate of the loss arising in the case where a default occurs at a given time. It is based on the difference between the contractual cash flows due and those that the lender would expect to receive, including from the realization of any collateral. EAD: The Exposure at default is an estimate of the exposure at a future default date, taking into account expected changes in the exposure after the reporting date, including repayments of principal and interest, whether scheduled by contract or otherwise, expected drawdown on committed facilities, and accrued interest from missed payments. Note 1 – General Information and Summary of Significant Accounting Policies, continued For measuring 12‑month and lifetime ECL, cash shortfalls are identified as follows: · 12‑month expected credit losses: the portion of lifetime expected credit losses that represents the expected credit losses that result from default events on the financial instruments that are possible within the 12 months after the reporting date. · Lifetime expected credit losses: the expected credit losses that result from all possible default events over the expected life of the financial instrument. The Bank considered a multi-factor analysis to perform credit risk analysis. The type of portfolio or transactions, and whether individually or collectively assessed. The Bank divides its portfolio in commercial loans, mortgage loans, consumer loans and contingent loans. The Bank assesses individually whether objective evidence of impairment exists for loans that are individually significant, then collectively assesses loans that are not individually significant and loans which are significant but for which there is no objective evidence of impairment available under individually assessment. (ii) Contingent loans The Bank enters into various irrevocable loan commitments and contingent liabilities. Even though these obligations may not be recognized on the statements of financial position, they contain credit risk and, therefore, form part of the overall risk of the Bank. When the Bank estimates the ECL for contingent loans, it estimates the expected portion of the loan commitment that will be drawn down over its expected life. (iii) Forward looking information The ECL model includes a broad range of forward looking information as economic inputs, such as: · GDP growth · Unemployment rates · Central Banks interest rates · Real estate prices (iv) Modifications of financial assets When a loan measured at amortized cost has been renegotiated or modified but not derecognized, the Bank recognizes the resulting gains or losses as the difference between the carrying amount of the original loans, and modified contractual cash flows discounted using the EIR before modification. Note 1 – General Information and Summary of Significant Accounting Policies, continued For ECL estimation purposes of financial assets that have been modified, the Bank is required to distinguish between modification that result in derecognition from those that does not result in derecognition. If the modification does not result in derecognition, then the subsequent assessment of whether there is a significant increase in credit risk is made comparing the risk at the reporting date based on the modified contractual term and the risk at initial recognition based on the original, unmodified contractual term. If the modification results in derecognition, then the modified asset is considered to be a new asset. Accordingly, the date of modification is treated as the date of initial recognition for the purposes of the impairment requirements. (v) Collateral The Banks seeks to use collateral to mitigate its credit risks on financial assets, where possible. Types of collateral are cash, securities, letters of credit, real estate and inventories. Collateral, unless repossessed, is not recorded on the Bank’s statements of financial position. However, the fair value of collateral affects the calculation of ECLs. The main collateral associated to mortgage loans are real estate, which are valued based on data provided by specialized third parties. The estimation of ECL reflects the cash flows expected from collateral and other credit enhancement that are part of the contractual terms of the financial instruments. According to the Bank’s policy when an asset (real estate) is repossessed, it is transferred to assets held for sale at its fair value less cost to sell and classified as non-financial assets at the repossession date. (vi) Charge-offs The gross carrying amount of a financial asset is reduced when there is no reasonable expectation of recovery and all collection efforts have been exhausted. A charge-off constitutes a derecognition event of the corresponding loan transaction in its entirety, and therefore, include portions not past-due for installments loans or leasing operation (no partial charge-off). Subsequent recoveries of amounts previously charge-off are credited to the income statements, as recovery of loans previously charged-off, as a deduction from provisions for loan losses. |
Income taxes and deferred taxes | u) Income taxes and deferred taxes The Bank has recognized an expense (income) arising from gains or losses for each year, according to the applicable taxation rules for each country or jurisdiction it operates. The Bank records, when appropriate, deferred tax assets and liabilities for the estimated future tax effects attributable to differences between the carrying amount of assets and liabilities and their tax bases. The measurement of deferred tax assets and liabilities is based on the tax rate, in accordance with the applicable tax laws, using the tax rate that applies to the period when the deferred asset and liability will be settled. The future effects of changes in tax legislation or tax rates are recorded in deferred taxes beginning on the date on which the law is enacted or substantially enacted. |
Provisions and contingent assets and liabilities | v) Provisions and contingent assets and liabilities When preparing the financial statements of the consolidated entities, the Bank’s directors made a distinction between: Note 1 – General Information and Summary of Significant Accounting Policies, continued Provisions: credit balances covering present obligations at the reporting date arising from past events which could give rise to a loss for the consolidated entities, which is considered to be more likely than not to occur and certain as to its nature but uncertain as to its amount and/or timing. Contingent liabilities: possible obligations that arise from past events and whose existence will be confirmed only by the occurrence or non-occurrence of one or more future events not wholly within the control of the consolidated entities. They include the present obligations of the consolidated entities when it is not probable that an outflow of resources embodying economic benefits will be required to settle them. The Group does not recognize the contingent liability. The Group will disclose a contingent liability, unless the possibility of an outflow of resources embodying economic benefits is remote. Contingent assets: possible assets that arise from past events and whose existence is conditional on, and will be confirmed only by, the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the Group. Contingent assets are not recognized in the consolidated balance sheet or in the consolidated income statement, but rather are disclosed in the notes, provided that it is probable that these assets will give rise to an increase in resources embodying economic benefits. The Group’s consolidated financial statements include all the material provisions with respect to which it is considered that it is more likely than not the obligation will have to be settled. In accordance with accounting standards, contingent liabilities must not be recognized in the consolidated financial statements, but must rather be disclosed in the notes. Provisions, which are quantified on the basis of the best information available on the consequences of the event giving rise to them and are reviewed and adjusted at the end of each year, are used to cater for the specific obligations for which they were originally recognized. Provisions are fully or partially reversed when such obligations cease to exist or are reduced. Provisions are classified according to the obligations covered as follows (See Note 21): Provision for pensions and similar obligations: includes the amount of all the provisions made to cover post-employment benefits, including obligations to pre-retirees and similar obligations. Provisions for contingent liabilities and commitments: include the amount of the provisions made to cover contingent liabilities -defined as those transactions in which the Group guarantees the obligations of a third party, arising as a result of financial guarantees granted or contracts of another kind- and contingent commitments -defined as irrevocable commitments that may give rise to the recognition of financial assets. Provisions for taxes and other legal contingencies and other provisions: include the amount of the provisions recognized to cover tax and legal contingencies and litigation and the other provisions recognized by the consolidated entities. Other provisions includes, inter alia, any provisions for restructuring costs and environmental measures. Provisions for restructuring cost: these are constructive obligations that arise from a restructuring plan. A restructuring plan is a program that is planned and controlled by management, which changes either the scope of the business undertaken, or the manner in which that business is conducted. The provisions for restructuring cost are recognized in accordance with IAS 37 “Provisions, Contingent Liabilities and Contingent Assets” once the Bank has a real expectation of executing the plan, either by having started to execute the plan or by having announced its main characteristics to those who are going to be affected. Note 1 – General Information and Summary of Significant Accounting Policies, continued |
Employee benefits | w) Employee benefits Short-term benefits Correspond to personnel benefits (other than termination benefits) that are expected to be settled within twelve months after year end over which the employees have rendered their services. These are recognized when the employee has rendered the service and are measured at the undiscounted amount of benefits expected to be paid in exchange for that service: · as a liability (accrued expense), after deducting any obligation already satisfied. If the amount already paid is higher than the gross amount of the benefits, the Bank will recognize this excess as an asset (amount paid in advance), when it represents a reduction of future payments or a recoverable amount in cash. · as an expense when the entity consumes the economic benefit arising from the service provided by an employee in exchange for employee benefits, unless other IFRS requires or allows the recognition of those disbursements as part of the cost of an asset. Personnel vacations The annual cost of personnel vacations and benefits are recognized on an accrual basis. Post-employment benefits Correspond to employee benefits (other than termination benefits and short-term employee benefits) that are expected to be settled after the completion of employment. Post-employment benefits plans are agreements, formal and informal, in which the Bank is committed to provide benefits to one or more employees after termination of their employment. Plans providing these benefits are classified as either defined contribution plans or defined benefit plans, depending on the economic substance of the plan as derived from its principal terms and conditi ons. Defined contribution plans: the obligation is recognized for the amounts to be contributed in the period. Defined benefit plans: a liability is recognized based on the estimated benefit cost that employees have accrued for services rendered, less the present value of the defined benefit obligation and present value of present services. Present service cost and gain or loss upon settlement will be recognized in the income statement for the period. Gains and losses generated from the remeasurement of the liability will be recognized in other comprehensive income. Other long-term benefits Other long-term employee benefits are employee benefits, other than short-term, post-employment and termination benefits, which are not due for payment within 12 months after the end of the period in which the employees render the service. The regulations require the recognition of a liability for the present value of the defined benefit obligation less the fair value of the plan assets, if any. The results generated from its remediation will be recognized in the results of the period. Note 1 – General Information and Summary of Significant Accounting Policies, continued Termination benefits Termination benefits are employee benefits provided in exchange for the termination of an employee’s employment, as a consequence of: · a decision of the entity to terminate the employee’s employment before the normal termination date; or · the decision of an employee to accept an offer with benefits in order to terminate the employment before the normal termination date. An entity recognizes a liability and expense for termination benefits at the earlier of the following dates: · when the entity can no longer withdraw the offer of those benefits; and · when the entity recognizes costs for a restructuring that is within the scope of IAS 37 “ Provisions, Contingent Liabilities and Contingent Assets ” and involves the payment of termination benefits. |
Provision for mandatory dividends | x) Provision for mandatory dividends The Bank recorded a provision for mandatory dividends calculated as a portion of income for the year in order to comply with dispositions of the Chilean Corporations Act (Ley de Sociedades Anónimas) which requires to distribute at least 30% of income of the year, consistent with the Bank’s internal policy. For fiscal year 2019, the Bank provisioned 30% of its profits. For fiscal year 2020, no provision was recorded given the loss reported for the year. This provision is recorded as a decrease in “Retained earnings” under the line item “Provision for minimum dividends” within the Statement of Changes in Consolidated Equity. In the Bank’s bylaws, title VII, it is established that the Bank should distribute annually as a dividend to its shareholders, as a proposal of the Board of Directors and based on the number of shares, at least thirty percent (30%) of the net income of the year. Furthermore, no dividends distribution will take place if there are equity losses (negative reserves) until these losses are recovered or if a dividend distribution will cause a non-compliance of the capital requirements established by the Ley General de Bancos (General Bank Law). For all matters related to dividends distributions, the Bank is subject to the terms incorporated in the Transaction Agreement (dated January 29, 2014 and its subsequent modifications), which was approved by the Ordinary Shareholders Meeting (dated March 11, 2016). |
Assets received or awarded in lieu of payment | y) Assets received or awarded in lieu of payment Assets received or awarded in lieu of payment of loans and accounts receivable from clients are recognized at their fair value (as determined by an independent appraisal). A price is agreed upon by the parties through negotiation or, when the parties do not reach an agreement, at the amount at which the Bank is awarded those assets at a judicial auction. In both cases, an independent appraisal is performed. The excess of the outstanding loan balance over the fair value is charged to net income for the year, under “Provision for loan losses”. Note 1 – General Information and Summary of Significant Accounting Policies, continued Any excess of the fair value over the outstanding loan balance, less costs to sell of the collateral, is returned to the client. These assets are subsequently adjusted to their net realizable value less cost to sale, and the difference between the carrying value of the asset and the estimated fair value less costs to sell is charged to income, under “Other operating expenses”. |
Customer loyalty programs | z) Customer loyalty programs The Bank maintains a loyalty program to provide incentives to its customers, allowing them to purchase goods or services with certain benefits which are granted through credit cards issued by the Bank when they purchase according to the conditions established for each loyalty program. The Bank has an adequate level of provisions in order comply with its current obligations and to properly reflect the associated expense when providing the benefits. |
Non- current assets held for sale (in "Other Assets") | aa) Non- current assets held for sale (in “Other Assets”) Non-current assets (or a group holding assets and liabilities for disposal) expected to be recovered mainly through the sale of these items rather than through the continued use, are classified as held for sale. Immediately prior to this classification, assets (or elements of a disposable group) are re-measured in accordance with the Bank’s policies. The assets (or disposal group) are measured at the lower of carrying amount and fair value less cost to sell. Impairment losses in initial classification of non-current assets held for sale and with subsequent gains and losses are recorded in income. Gains are not recorded over previously recorded losses. |
Earnings per share | bb) Earnings per share Basic earnings per share are determined by dividing the net income attributable to the equity holders of the Bank for the reported period by the weighted average number of shares outstanding during the reported period. Diluted earnings per share are determined in the same way as basic earnings, but the weighted average number of outstanding shares is adjusted to take into consideration the potential diluting effect of stock options, warrants, and convertible debt. As of December 31, 2020, 2019 and 2018 the Bank did not have any instruments that generated dilution. |
Consolidated Statement of Cash Flows | cc) Consolidated Statement of Cash Flows The Bank presents cash flows from operating activities, investing activities, and financing activities in a manner that best represent the nature of its activities. The classification of cash flows into the aforementioned categories provides information that allows users to evaluate the impact of the transactions in the financial position of the Bank, as well as over the ending balance of cash and cash equivalents. This information can be also useful when evaluating the relation between those activities (IAS 7). For the preparation of the cash flow statement, the indirect method was used, starting with the Bank’s consolidated pre-tax income (loss) and incorporating non-cash transactions, as well as income and expenses associated with cash flows, which are classified as operating, investment or financing activities. Note 1 – General Information and Summary of Significant Accounting Policies, continued For the preparation of the cash flow statement, the following items are considered: · Cash flows : Inflows and outflows of cash and cash equivalents, such as deposits with the Central Bank of Chile, deposits in domestic banks, and deposits in foreign banks. · Operating activities : Principal revenue-producing activities performed by banks and other activities that cannot be classified as investing or financing activities. This section includes, among others, foreign loans obtained, dividends received, FVTOCI investments and held to maturity. · Investing activities : Correspond to the acquisition and disposal of long-term assets and other investments not included in cash and cash equivalents. · Financing activities : Activities that result in changes in the size and composition of the equity and liabilities that are not part of operating activities nor investing activities. For cash flows statement purposes, it has been considered as cash and cash equivalents amounts included in “Cash and deposits in banks” plus the net amount of cash items in process of collection, plus trading investment and FVTOCI investment instruments highly liquid and minimal value change risk which due date is less than three months since the acquisition date and investments under resale agreements under the same terms. Includes also investments in fixed income mutual funds which are presented under FVTPL / trading investments in the Consolidated Statement of Financial Position. The amounts for cash and cash equivalents and the corresponding reconciliation to the Consolidated Statement of Cash Flows are detailed in Note 5 “Cash and Cash Equivalents”. The provision for loan losses included under the operating activities section differs from the amount presented in the Consolidated Statement of Income (Loss), because such amount excludes recoveries of transactions previously charged-off for cash flows purposes. |
Consolidated Statement of Changes in Equity | dd) Consolidated Statement of Changes in Equity The Consolidated Statement of Changes in Equity presents all movements affecting net equity, including those originated by accounting changes or errors recognition. This statement shows a conciliation between opening and ending balances for the year for all items that form part of consolidated equity, grouping transactions based on their nature, according to the following: · Adjustments due to accounting changes related to prior periods: Includes changes in equity as a consequence of restating amounts previously reported in the Consolidated Financial Statements resulting from accounting changes related to prior periods recognition. · Net comprehensive income for the year: Includes, in an aggregated manner, net income for the year and other comprehensive income for the year. · Other changes in equity: Includes retained earnings distributions, equity increases, provision for mandatory dividends, dividends paid, among other increases or decreases in consolidated equity. This information is presented in two statements: The Consolidated Statement of Other Comprehensive Income (Loss) and the Consolidated Statement of Changes in Equity. Note 1 – General Information and Summary of Significant Accounting Policies, continued |
Consolidated Statement of Other Comprehensive Income | ee) Consolidated Statement of Other Comprehensive Income (Loss) In the Consolidated Statement of Other Comprehensive Income (Loss) are presented income and expenses generated by the Bank as a consequence of its regular activities during the year, clearly identifying those recorded in profit and loss from those recorded in net equity. Due to this, in this statement the following is shown: · Income (loss) for the year. · Net amount of income and expenses recorded in equity as “Valuation accounts”. · Deferred income taxes originated by transactions described above, except for those amounts related to exchange differences from foreign net investments. Total amount of consolidated income and expenses recorded attributable to the equity holders of the Bank, calculated as the sum of the items listed above, is presented separately from non-controlling interest. |
New and revised accounting pronouncements introduced by IASB | ff) New and revised accounting pronouncements introduced by IASB 1) Standards and interpretations that are effective from January 1, 2020 1.1) Conceptual framework In March 2018, the International Accounting Standards Board (the Board) issued a complete set of concepts for financial reporting, the revised Conceptual Framework for Financial Information (Conceptual Framework), replacing the previous version of the Conceptual Framework issued in 2010. The revised Conceptual Framework has an effective date from January 1, 2020. The amendment introduces new definitions and includes guidance on certain considerations. Given the nature of the amendment, it had no material impact on the Consolidated Financial Statements. 1.2) IFRS 3 "Business Combinations" - Business definition In October 2018, the International Accounting Standards Board (IASB) issued the Definition of a Business to make it easier for companies to decide whether the activities and assets they acquire are a business or simply a group of assets. Reduce the limitations of a company to the center of the definition of products in goods and services provided to customers and other income from ordinary activities, instead of providing dividends or other economic benefits directly to investors or reducing costs. The amendment to IFRS 3 has an effective date of January 1, 2020. The new standard had no material impact on the Consolidated Financial Statements. 1.3) Amendments to IAS 1 "Presentation of financial statements" and IAS 8 "Accounting policies, policy changes and accounting errors" On October 31, 2018, the IASB published “Definition of material (amendments to IAS 1 and IAS 8)” to clarify the definition of “material” and to align the definition used in the Conceptual Framework and similar standards. Note 1 – General Information and Summary of Significant Accounting Policies, continued The changes relate to a revised definition of “material” that is cited following the final amendments: "Information is material if its omission, misstatement or concealment could reasonably be expected to influence the decisions that primary users of general purpose financial statements make on the basis of those statements, which provide financial information about a specific reporting entity”. The new definition of material is found in IAS 1 “Presentation of Financial Statements”. The definition of material in IAS 8 “Accounting Policies, Changes in Accounting Estimates and Errors” has been replaced with a reference to IAS 1. The amendments are effective for annual periods beginning on or after January 1, 2020. Early application is allowed. The new standard had no material impact on the Consolidated Financial Statements. 1.4) Amendments to IFRS 9, IAS 39 and IFRS 7 - Interest Rate Benchmark Reform In September 2019, the amendments were modified to provide for certain exceptions in relation to the interest rate benchmark reform. The exceptions relate to hedging relationships and are intended to avoid disruption and inconsistency in hedge accounting as a result of interest rate benchmark reform. However, any inefficiency of coverage must continue to be recorded in income. The amendments apply retrospectively to annual periods beginning on or after January 1, 2020. The nature of the amendment includes simplifying requirements relating to interest rate benchmark reform, the adoption of which did not have a material impact on the Consolidated Financial Statements. 1.5) Amendment to IFRS 16 regarding COVID-19-related rent concession On May 28, 2020, The International Accounting Standards Board (IASB) published “COVID-19-Related Rent Concessions (Amendment to IFRS 16)”, amending the standard for providing lessees with an exemption from assessing whether a COVID-19-related rent concession is a lease modification. Concurrently, the IASB also published a proposed Taxonomy IFRS 2020 Update to reflect this amendment. When there is a change in lease payments, the accounting consequences will depend on whether the change meets the definition of a lease modification, which IFRS 16 Leases defines as “a change in the scope of a lease, or the consideration for a lease, that was not part of the original terms and conditions of the lease (for example, adding or terminating the right to use one or more underlying assets, or extending or shortening the contractual lease term)”. The changes in COVID-19-Related Rent Concessions (Amendment to IFRS 16) amend IFRS 16 to a) provide lessees with an exemption from assessing whether a COVID-19-related rent concession is a lease modification; b) require lessees that apply the exemption to account for COVID-19-related rent concessions as if they were not lease modifications; c) require lessees that apply the exemption to disclose that fact; and d) require lessees to apply the exemption retrospectively in accordance with IAS 8, but not require them to restate prior period figures Note 1 – General Information and Summary of Significant Accounting Policies, continued The exemption applies to those reductions in payments as a result of the COVID-19, due on or before June 30, 2021 in order to capture the lease concessions granted as of June and with a duration of 12 months. The amendment is effective for annual reporting periods beginning on or after June 1, 2020. Earlier application is permitted, including in financial statements not yet authorized for issue on May 28, 2020. The amendment is also available for interim reports. The IFRS 2020 Taxonomy included elements of the IFRS taxonomy to reflect the new disclosure requirements introduced by the amendment, issued in May 2020. The adoption of the amendment did not have a material impact on the Consolidated Financial Statements, since to date there have been no material changes on current contracts utilizing this amendment. 2) New standards and interpretations that are not yet effective 2.1) Amendment to Sale or Contribution of assets between an investor and its Association or Joint Business (amendments to IFRS 10 and IAS 28) The amendments to IFRS 10 and IAS 28 address situations where there is a sale or contribution of assets between an investor and its associate or joint venture. Specifically, the amendments provide that gains or losses, resulting from the loss of control of a subsidiary that does not contain a business in a transaction with an associate or joint venture, accounted for using the equity method are recognized in the parent's profit or loss only to the extent of the unrelated investors' interests in that associate or joint venture. Similarly, gains or losses resulting from the remeasurement to fair value of investments held in a former subsidiary (which has become an associate or joint venture that is accounted for using the equity method) are recognized in the results of the former parent only to the extent of the unrelated investors' interests in the new associate or joint venture. The effective date of the amendments was initially from January 1, 2016, however the IASB on December 17, 2015 indefinitely postponed their entry into force. The Bank's Management will evaluate the potential impacts of these amendments, once the new implementation date for these amendments is announced. 2.2) Amendment to IAS 1 "Presentation of Financial Statements" - Classification of liabilities as current or non-current On January 23, 2020, the IASB published the amendment to IAS 1, which addresses the classification of liabilities and clarifies their presentation as current or non-current. This amendment applies as of January 1, 2023 retroactively and its early application is permitted. Among the modifications are the following: · An entity shall classify a liability as current when it does not have a right to postpone its liquidation for at least twelve months following the date of the reporting period. The amendment removes the factor of "unconditionality" from this right Note 1 – General Information and Summary of Significant Accounting Policies, continued · The right to defer settlement of the liability must have substance and must exist at the end of the reporting period. If this right is subject to the entity that covers any condition, such right only exists if it is effectively fulfilled by fulfilling these conditions at the end of the reporting period and can be classified as non-current. The entity must comply with these conditions, although the counterparty does not carry out a testing of these. · The classification of the liability will not be affected by the probability that the entity exercises its right to defer its settlement. Therefore, if the liability meets the non-current condition specified in the standard, it will be classified as non-current, even if the entity plans to liquidate it in less than 12 months from the period in which it is reported or between the periods in which it is reported. And the one that is reported to the regulator. If any of the above cases occurs, it must be disclosed in the Financial Statements to understand the impact of the entity's financial position. · The liability is understood as liquid when the entity extinguishes the obligation to control its effective counterparty, other economic resources, or its own equity instruments. The Bank's Management is currently assessing the potential impact of the adoption of these amendments on the Consolidated Financial Statements.. 2.3) Amendments to IFRS 3 to update a reference to the Conceptual Framework On May 14, 2020, the IASB published, amendments to IFRS 3 'Business Combinations' that update an outdated reference in IFRS 3 without significantly changing its requirements. The changes in Reference to the Conceptual Framework (Amendments to IFRS 3): · update IFRS 3 so that it refers to the 2018 Conceptual Framework instead of the 1989 Framework; · add to IFRS 3 a requirement that, for transactions and other events within the scope of IAS 37 or IFRIC 21, an acquirer applies IAS 37 or IFRIC 21 (instead of the Conceptual Framework) to identify the liabilities it has assumed in a business combination; and · add to IFRS 3 an explicit statement that an acquirer does not recognize contingent assets acquired in a business combination. The amendments published are effective for annual periods beginning on or after January 1, 2022. Early application is permitted if an entity also applies all other updated references (published together with the updated Conceptual Framework) at the same time or earlier. The adoption of the amendment will not have a material impact on the Consolidated Financial Statements. 2.4) Amendments to IAS 37 “Onerous Contracts” — Cost of Fulfilling a Contract On May 14, 2020, the IASB published “Onerous Contracts — Cost of Fulfilling a Contract (Amendments to IAS 37)” amending the standard regarding costs a company should include as the cost of fulfilling a contract when assessing whether a contract is onerous. Note 1 – General Information and Summary of Significant Accounting Policies, continued The changes in Onerous Contracts — Cost of Fulfilling a Contract (Amendments to IAS 37) specify that the “cost of fulfilling” a contract comprises the “costs that relate directly to the contract”. Costs that relate directly to a contract can either be incremental costs of fulfilling that contract (examples would be direct labor, materials) or an allocation of other costs that relate directly to fulfilling contracts (an example would be the allocation of the depreciation charge for an item of property, plant and equipment used in fulfilling the contract). The amendments published today are effective for annual periods beginning on or after January 1, 2022. Early application is permitted. The Bank's Management is currently evaluating the potential impact of the adoption of these amendments on the Consolidated Financial Statements. 2.5) Annual improvements to IFRS standards 2018–2020 On May 14, 2020, the IASB published Annual Improvements to IFRS Standards 2018–2020, making amendments to the following standards: IFRS 1 First-time Adoption of International Financial Reporting Standards - Subsidiary as a first-time adopter. The amendment permits a subsidiary that applies paragraph D16(a) of IFRS 1 to measure cumulative translation differences using the amounts reported by its parent, based on the parent’s date of transition to IFRSs. IFRS 9 Financial Instruments - Fees in the “10 percent” test for derecognition of financial liabilities. The amendment clarifies which fees an entity includes when it applies the ‘10 percent’ test in paragraph B3.3.6 of IFRS 9 in assessing whether to derecognize a financial liability. An entity includes only fees paid or received between the entity (the borrower) and the lender, including fees paid or received by either the entity or the lender on the other’s behalf. IFRS 16 Leases Lease incentives. The amendment to Illustrative Example 13 accompanying IFRS 16 removes from the example the illustration of the reimbursement of leasehold improvements by the lessor in order to resolve any potential confusion regarding the treatment of lease incentives that might arise because of how lease incentives are illustrated in that example. IAS 41 Agriculture. Taxation in fair value measurements. The amendment removes the requirement in paragraph 22 of IAS 41 for entities to exclude taxation cash flows when measuring the fair value of a biological asset using a present value technique. This will ensure consistency with the requirements in IFRS 13. The amendments to IFRS 1, IFRS 9, and IAS 41 published today are all effective for annual periods beginning on or after January 1, 2022. Early application is permitted. The amendment to IFRS 16 only regards an illustrative example, so no effective date is stated. The Bank's Management is currently evaluating the potential impact of the adoption of these amendments on the Consolidated Financial Statements. Note 1 – General Information and Summary of Significant Accounting Policies, continued 2.7) Interest Rate Benchmark Reform — Phase 2 (Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16) The amendments in Interest Rate Benchmark Reform — Phase 2 (Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16) introduce a practical expedient for modifications required by the reform, clarify that hedge accounting is not discontinued solely because of the IBOR reform, and introduce disclosures that allow users to understand the nature and extent of risks arising from the IBOR reform to which the entity is exposed to and how the entity manages those risks as well as the entity’s progress in transitioning from IBORs to alternative benchmark rates, and how the entity is managing this transition. Currently, the IASB updated the Taxonomy as of September 2, 2020 The amendments are effective for annual periods beginning on or after January 1, 2021 and are to be applied retrospectively. As of the date of issuance of the Consolidated Financial Statements, the Bank’s Management has decided to incorporate the disclosures required by the amendment. Information regarding the exposure and the transition process to address the interest rate benchmark reform is disclosed in Note 36. |
IFRS9 [member] | |
Disclosure of voluntary change in accounting policy [line items] | |
Classification and measurement of financial instruments | k) Classification and measurement of financial instruments I. Classification of financial instruments (i) Classification of financial assets Financial assets are classified into a measurement category based on both the Bank’s business model for managing the financial asset and the contractual cash flow characteristics of the financial asset. Contractual cash flow assessment determine if the cash flows from the financial asset meet the SPPI (solely payment of principal and interest) criterion, i.e. whether the contractual terms of the financial asset give rise, on specific dates, to cash flows that are solely payments of principal and interest. Principal is the fair value of the financial assets at initial recognition, and interest is the consideration for the time value of money, the credit risk associated with the principal outstanding, and also may include liquidity risk, administrative cost and profit margin. For classification process the Bank perform the SPPI test, which assesses the contractual term to identify whether they meet SPPI criterion, the contract is a basic lending arrangement. The Bank applies judgment and considers relevant factors such as currency in which the financial asset is denominated, and period for which the interest rate is set. Business model refers to how the Bank manages its financial assets in order to generate cash flows. The Bank determined its business model on initial application of IFRS 9 at the level that best reflects how it manages groups of financial assets to achieve its business objective. The Bank’s business model represents how financial assets are managed to generate cash flows and does not depend on the Management’s intention regarding an individual instrument, but at a higher level of aggregated portfolio and is based on observable factors such as: risks that affect the performance of business model; how business managers are compensated; how the performance of business model is assessed and reported to Management. In addition, the Banks’s business model is not assessed on an instrument-by-instrument basis, but at a higher level of aggregated portfolio and is based on observable factors such as: performance of the financial assets, the risk that affect the performance, and the expected frequency, value and timing of sales, among others. Note 1 – General Information and Summary of Significant Accounting Policies, continued In accordance with IFRS 9 the business models are: · Held to collect business model (HTC) - financial assets that are held within a business model whose objective is to hold assets in order to collect contractual cash flows are managed to realize cash flows by collecting contractual payments over the life of the instrument, under this business model sales made when there is an increase in the credit risk, or to manage credit concentration risk are not inconsistent with a business model whose objective is to hold financial assets to collect contractual cash flows. · Held to collect and sell (HTC&S) - financial assets under this business model achieve the objective by both collecting contractual cash flows and selling financial assets, then involve a greater frequency and value of sales than HTC business model. · Other business model - financial assets held in this business has the objective of realizing cash flows through the sale of the assets. The Bank makes decisions based on the assets’ fair values and manages the assets to realize those fair values. (ii) Reclassifications Reclassification of financial assets is required if, and only if, the objective of the Bank’s business model for managing those financial assets changes. Financial liabilities cannot be reclassified. There are no reclassifications in these Consolidated Financial Statements. II. Measurement of financial instruments (i) Initial measurement On initial recognition, financial assets and financial liabilities are measured at the transaction price, i.e. the fair value of the consideration given or received (IFRS 13). In the case of financial instruments not at fair value through profit or loss, transaction costs of financial assets and financial liabilities carried at fair value are expensed in profit or loss. (ii) Subsequent measurement - Financial assets After initial recognition, the Bank shall measures a financial asset at: (a) Amortized cost Financial assets that are held in a business model to collect the contractual cash flows and contain contractual terms that give rise on specific dates to cash flows that are SPPI, are measured at amortized cost. The effective interest method is used in the calculation of the amortized cost of a financial asset or a financial liability and in the allocation and recognition of the interest revenue or interest expense in profit or loss over the relevant period. The effective interest rate (EIR) is the rate that exactly discounts estimated future cash payments or receipts through the expected life of the financial asset or financial liability to the gross carrying amount of a financial asset or to the amortized cost of a financial liability. Note 1 – General Information and Summary of Significant Accounting Policies, continued (b) Fair value through other comprehensive income (FVTOCI) Financial assets that are debt instruments held in a business model that is achieved by both collecting contractual cash flows and selling, and that contain contractual terms that give rise on specific dates to cash flows that are SPPI, are measured at FVTOCI. They are subsequently remeasured at fair value and changes therein (except for those relating to impairment, interest income and foreign currency exchange gains and losses) are recognized in other comprehensive income, until the assets are sold. Upon disposal, the cumulative gain and losses in other comprehensive income are recognized in the income statements. (c) Fair value through profit or loss (FVTPL) Financial assets that do not contain contractual terms that give rise on specified dates to cash flows that are SPPI, or if the financial assets, or if the financial asset is not held in a business model that is either (i) a business model to collect the contractual cash flows or (ii) a business model that is achieved by both collecting contractual cash flows and selling. Financial assets held for trading are recognized at fair value through profit or loss, likewise derivatives contracts for trading purposes. (d) Equity instruments For certain equity instruments, the Bank may make an irrevocable election to present subsequent changes in the fair value of the instrument in other comprehensive income, except for dividend income which is recognized in profit or loss. Gains or losses on derecognition of these equity instruments are not transferred to profit or loss. (iii) Subsequent measurement - Financial liabilities After initial recognition, the Bank shall measure a financial liability at amortized cost, except for derivatives that are measured at fair value through profit or loss. III. Derecognition of financial assets and liabilities Financial assets are derecognized when, and only when: · the contractual rights to the cash flows from the financial asset expire, or · the Bank transfers substantially all the risks and rewards of ownership of the financial asset, and therefore the Bank derecognizes the financial asset and recognize separately any rights and obligations created or retained in the transfer. In some cases, the Bank enters into transactions for which it retains the contractual rights to receive the cash flows of the financial asset, but assumes a contractual obligation to pay the cash flows in an arrangement that meets all the conditions required, i.e. the Bank only transfers collected amounts from original assets, selling or pledging original assets is prohibited, and the Bank has the obligation to remit cash flows collected without material delay. Note 1 – General Information and Summary of Significant Accounting Policies, continued When a financial asset is sold and the Bank simultaneously agrees to repurchase it (or an asset that is substantially the same) at a fixed price on a future date, the Bank continues to recognize the financial assets in their entirety in the statements of financial position because it retains substantially all of the risks and rewards of ownership. The cash consideration received is recognized as a financial asset and a financial liability is recognized for the obligation to pay the repurchase price. Financial liabilities are derecognized when, and only when, they are extinguished, cancelled or expired. Derecognition due to substantial modification of terms and conditions The Bank derecognizes a financial asset, such as a loan to a customer, when the terms and conditions have been renegotiated to the extent that it essentially has become a new asset, with the difference recognized as a derecognition gain or loss, to the extent that an impairment loss has not already been recorded. A modification of terms and conditions does not lead to derecognition if it does not result in cash flows that are substantially different. Based on the change in cash flows discounted at the original EIR, the Bank records a modification gain or loss, to the extent that an impairment loss has not already been recorded. For financial liabilities, the Bank considers a modification substantial based on qualitative factors, and whether it results in a difference between the adjusted discounted present value and the original carrying amount of the financial liability of, or greater than, ten percent. For financial assets, this assessment is based on qualitative factors. IV. Renegotiated and modified loans The Bank sometimes makes concessions or modifications to the original terms of loans as a response to the borrower’s financial difficulties, rather than taking possession or otherwise enforcing collection of collateral, or in some cases in order to renegotiate loans. The Bank considers a loan forborne when such concessions or modifications are provided as a result of the borrower’s present or expected financial difficulties and the Bank would not have agreed to them if the borrower had been financially healthy. Indicators of financial difficulties include defaults on covenants, or significant concerns raised by the Credit Risk Department. Forbearance may involve extending the payment arrangements and the agreement of new loan conditions. It is the Bank’s policy to monitor forborne loans to help ensure that future payments are likely to occur. If the modifications are substantial, the loan is derecognized, as explained in “III. Derecognition of financial assets and liabilieties”. If the terms have been renegotiated without resulting in the derecognition of the loan, any impairment is measured using the original EIR as calculated before the modification of terms. The Bank also reassesses whether there has been a significant increase in credit risk and whether the assets should be classified as another Stage. Derecognition decisions and classifications of Stage 2 and Stage 3 are determined on a case-by case basis. If these procedures identify a loss in relation to a loan, it is disclosed and managed as an impaired Stage 3 forborne asset until it is collected or written off. Due to the COVID-19 pandemic, the Chilean Government issued a number of measures in order to support the economy. The Bank implemented these measures and carried out additional measures to support its customers, whereby the Bank and its customers agreed upon modifications to loans, including in cases where the customers did not necessarily face financial difficulties. The modifications carried out consisted of payment deferral arrangements, which were not necessarily prompted by an assessment of the financial condition of the borrower. As such, these customers were not identified as showing significant increase in credit risk (SICR) and remained in their current stage, unless they had previously triggered other SCIR criteria. Note 1 – General Information and Summary of Significant Accounting Policies, continued V. Contingent loans The Bank issues contingent loans (including letters of credit, foreign letters of credit and performance guarantee) and loan commitments. Contingent loans and undrawn loan commitments are commitments under which, over the duration of the commitment, the Bank is required to provide a loan with pre-specified term to the customer. The nominal contractual loan value, when the loan agreed to be provided is on market terms, is not recorded in the statements of financial position. The related expected credit loss allowance is disclosed in Note 21. VI. Offsetting Financial assets and financial liabilities are offset in the balance sheet only when there is a legally enforceable right to offset the recognized amounts and there is an intention to settle on a net basis, or realize the asset and settle the liability simultaneously. |
General Information and Summa_3
General Information and Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [Abstract] | |
Schedule of exercise control | The following table details the entities controlled by Itaú Corpbanca: Ownership percentage Functional As of December 31, 2020 As of December 31, 2019 Market Country currency Direct Indirect Total Direct Indirect Total % % % % % % Itaú Corredores de Bolsa Limitada (1) National Chile $ Itaú Administradora General de Fondos S.A. (1) Chile $ Itaú Corredores de Seguros S.A. (1) Chile $ Itaú Asesorías Financieras Limitada (1) (7) Chile $ Recaudaciones y Cobranzas Limitada (1) (6) Chile $ Itaú Corpbanca New York Branch (1) (5) Foreign USA US$ — — Itaú Corpbanca Colombia S.A. (2) (8) Colombia COP$ — — Itaú Corredor de Seguro Colombia S.A. (2) Colombia COP$ — — Itaú Securities Services Colombia S.A. (2) (10) (11) Colombia COP$ Itaú Comisionista de Bolsa Colombia S.A (2) (12) Colombia COP$ Itaú Asset Management Colombia S.A. Sociedad Fiduciaria (2) Colombia COP$ — — Itaú (Panamá) S.A. (3) Panama US$ — — Itaú Casa de Valores S.A (4) (9) Panama US$ — — — — (1) Companies regulated by the Commission for the Financial Market, hereinafter CMF (formerly Superintendency of Securities and Insurance – SVS). (2) Companies regulated by the Colombian Financial Superintendency (SFC), which has a supervision agreement with the CMF. (3) Company regulated by the Superintendency of Banks of Panama. (4) Company regulated by the Superintendency of the Securities Market of Panama. (5) Company regulated by the Office of the Comptroller of the Currency (OCC) and the Federal Reserve (FED). (6) On May 2, 2019, Itaú Corpbanca Recaudaciones y Cobranzas S.A (Instacob) acquired from Itaú Corredores de Bolsa its participation in Itaú Asesorías Financieras. (7) On May 2, 2019 Itaú Asesoría Financieras modifies its legal statute turning from a public company (S.A.) to a private limited company. (8) On December 3, 2019 Itaú Corpbanca completed the acquisition of Itaú Corpbanca Colombia shares owned by Helm LLC and Kresge Stock Holding Company Inc. (9) On January 23, 2020, Itaú Comisionista de Bolsa Colombia S.A., a subsidiary of Itaú Corpbanca Colombia S.A., completed the process of selling its participation (100%) held in Itaú Casa de Valores S.A., domiciled in Panama. (10) On July 8, 2020, Recaudaciones y Cobranza Ltda. acquired 1 share of Itaú Securities Services Colombia S.A. for the price of US$2.29 equivalent to Ch$1.799 pesos. (11) On July 8, 2020, Itaú Asesorías Financieras Ltda. acquired 1 share of Itaú Securities Services Colombia S.A. for the price of US$2.29 equivalent to Ch$1.799 pesos. (12) On July 8, 2020, Itaú Asesorías Financieras Ltda. acquired 6 shares of Itaú Comisionista de Bolsa S.A. for the price of US$7.19 equivalent to Ch$5.648 pesos. |
Schedule of Associate entity interests | The following entities are classified as “Associates”, were the Bank has an interest and are accounted for using the equity method, according to IAS 28: As of December 31, As of December 31, Associate Main Operation Operation Place 2020 2019 % Share % Share Nexus S.A Credit and debit card operator Santiago, Chile 14.8148 % 12.9000 % Transbank S.A Credit card operator Santiago, Chile 8.7188 % 8.7188 % |
Reporting Segments (Tables)
Reporting Segments (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [Abstract] | |
Schedule of Group Operates in Two Main Geographic Areas | The information on interest income and interest expenses for the years ended December 31, 2020, 2019 and 2018 of the aforementioned reporting segments is presented below: 2020 2019 2018 Chile Colombia Total Chile Colombia Total Chile Colombia Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Interest income 1,116,943 432,731 1,549,674 1,245,465 528,175 1,773,640 1,208,481 530,836 1,739,317 Interest expense (490,729) (192,508) (683,237) (631,279) (241,943) (873,222) (593,796) (257,858) (851,654) Net interest income 626,214 240,223 866,437 614,186 286,232 900,418 614,685 272,978 887,663 |
Schedule of Assets and Liabilities | c.1) Assets and Liabilities As of December 31, 2020 Note Chile Colombia Total MCh$ MCh$ MCh$ Cash and deposits in banks 5a) 2,761,202 327,870 3,089,072 Cash items in process of collection 5b) 173,099 93 173,192 Financial instruments at fair value through profit or loss 6 145,671 437,039 582,710 Financial instruments at fair value through other comprehensive income 11 3,353,241 617,658 3,970,899 Loans and accounts receivable at amortized cost and interbank loans 9-10 17,503,371 4,079,858 21,583,229 Investment in associates 12 7,149 — 7,149 Financial instruments at amortized cost 11 7,202 104,340 111,542 Investments under resale agreements 7 84,173 21,407 105,580 Financial derivative contracts 8 3,817,286 165,517 3,982,803 Intangible assets (*) 13 682,695 35,988 718,683 Property, plant, and equipment 14 56,756 23,859 80,615 Right of use assets under lease agreements 15 117,513 28,495 146,008 Current taxes 16 44,976 19,723 64,699 Deferred taxes 16 264,668 47,888 312,556 Other assets 17a) 453,702 88,931 542,633 Other non-current assets held for sale 17b) 10,818 4,260 15,078 TOTAL ASSETS 29,483,522 6,002,926 35,486,448 As of December 31, 2020 Note Chile Colombia Total MCh$ MCh$ MCh$ LIABILITIES Deposits and other demand liabilities 18a) 3,939,501 2,257,905 6,197,406 Cash in process of being cleared 5b) 154,231 1 154,232 Obligations under repurchase agreements 7b) 399,593 239,258 638,851 Time deposits and other time liabilities 18b) 9,984,010 1,449,054 11,433,064 Financial derivative contracts 8 3,494,611 178,980 3,673,591 Interbank borrowings 19 3,393,160 405,818 3,798,978 Debt instruments issued 20 5,472,392 732,464 6,204,856 Other financial liabilities 20 13,123 — 13,123 Lease contracts liabilities 15 125,265 26,620 151,885 Current taxes 16 596 1,170 1,766 Deferred taxes 16 — 237 237 Provisions 21 33,310 101,780 135,090 Other liabilities 22a) 619,955 80,079 700,034 Liabilities directly associated with non-current assets held for sale 22b) — — — TOTAL LIABILITIES 27,629,747 5,473,366 33,103,113 (*) This includes goodwill generated in business combination between Itaú Chile and Corpbanca totaling MCh$492,512 as of December 31, 2020. Note 4 - Reporting Segments, continued As of December 31, 2019 Note Chile Colombia Total MCh$ MCh$ MCh$ Cash and deposits in banks 5a) 610,901 398,780 1,009,681 Cash items in process of collection 5b) 230,595 710 231,305 Financial instruments at fair value through profit or loss 6 112,224 71,478 183,702 Financial instruments at fair value through other comprehensive income 11 2,751,959 846,931 3,598,890 Loans and accounts receivable at amortized cost and interbank loans 9-10 17,651,839 4,659,254 22,311,093 Investment in associates 12 5,833 3,772 9,605 Financial instruments at amortized cost 11 30,123 85,535 115,658 Investments under resale agreements 7 46,686 29,289 75,975 Financial derivative contracts 8 3,061,530 93,427 3,154,957 Intangible assets (*) 13 1,154,457 419,976 1,574,433 Property, plant, and equipment 14 73,169 21,911 95,080 Right of use assets under lease agreements 15 128,868 38,573 167,441 Current taxes 16 30,773 54,743 85,516 Deferred taxes 16 200,747 7,910 208,657 Other assets 17a) 699,679 71,182 770,861 Other non-current assets held for sale 17b) 10,291 6,911 17,202 TOTAL ASSETS 26,799,674 6,810,382 33,610,056 As of December 31, 2019 Note Chile Colombia Total MCh$ MCh$ MCh$ LIABILITIES Deposits and other demand liabilities 18a) 2,765,496 2,107,952 4,873,448 Cash in process of being cleared 5b) 164,573 — 164,573 Obligations under repurchase agreements 7b) 499,136 60,321 559,457 Time deposits and other time liabilities 18b) 9,700,785 1,919,402 11,620,187 Financial derivative contracts 8 2,839,914 98,120 2,938,034 Interbank borrowings 19 1,883,900 762,856 2,646,756 Debt instruments issued 20 5,687,763 720,593 6,408,356 Other financial liabilities 20 12,966 — 12,966 Lease contracts liabilities 15 137,334 35,590 172,924 Current taxes 16 13 — 13 Deferred taxes 16 — 263 263 Provisions 21 88,579 89,248 177,827 Other liabilities 22a) 653,786 55,128 708,914 Liabilities directly associated with non-current assets held for sale 22b) — — — TOTAL LIABILITIES 24,434,245 5,849,473 30,283,718 (*) This includes goodwill generated in business combination between Itaú Chile and Corpbanca totaling MCh$1,194,331 as of December 31, 2019. |
Schedule of Income | 2020 2019 2018 Chile Colombia Total Chile Colombia Total Chile Colombia Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Net interest income 626,214 240,223 866,437 614,186 286,232 900,418 614,685 272,978 887,663 Net fee and commission income 108,140 32,859 140,999 138,007 36,397 174,404 149,673 36,456 186,129 Net income from financial operations 25,031 85,856 110,887 152,600 (8,966) 143,634 128,264 44,491 172,755 Net foreign exchange gain (loss) (20,491) (53,973) (74,464) (24,389) 52,015 27,626 5,726 (23,691) (17,965) Other operating income 16,588 48,990 65,578 20,460 24,512 44,972 14,337 12,319 26,656 Provision for loan losses (310,429) (155,801) (466,230) (295,116) (87,562) (382,678) (127,804) (151,994) (279,798) NET OPERATING PROFIT 445,053 198,154 643,207 605,748 302,628 908,376 784,881 190,559 975,440 Depreciation and amortization (96,117) (30,327) (126,444) (86,593) (40,573) (127,166) (53,544) (33,273) (86,817) Operating expenses (*) (**) (896,152) (559,182) (1,455,334) (394,271) (215,096) (609,367) (442,943) (211,767) (654,710) OPERATING INCOME (LOSS) (547,216) (391,355) (938,571) 124,884 46,959 171,843 288,394 (54,481) 233,913 Income from investment in associates (2,794) — (2,794) 800 (268) 532 — — — Income taxes 73,965 41,245 115,210 (33,393) (14,460) (47,853) (85,269) 18,210 (67,059) CONSOLIDATED INCOME (LOSS) FOR THE YEAR (476,045) (350,110) (826,155) 92,291 32,231 124,522 203,125 (36,271) 166,854 (*) Includes personnel salaries and expenses, administrative expenses, impairment, and other operating expenses (**) As of December 31, 2020, includes the recognition of an impairment loss of MCh$814,879. The impairment is broken down into MCh$651,825 corresponding to the impairment on Goodwill, MCh$412,356 and MCh$239,469 of CGUs of Chile and Colombia, respectively, and MCh$113,911 corresponding to the intangibles generated in the business combination of the CGU Colombia. Intangible assets include impairment on Softwares and Licenses of MCh$38,849, which is broken down into MCh$ 34,524 and MCh$4,325 in the Chile CGU and Colombia CGU, respectively. In addition, the Chile CGU includes impairment of property, plant and equipment for MCh$10,294 . |
Cash and Cash Equivalents (Tabl
Cash and Cash Equivalents (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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Schedule of Balances included under Cash and Cash Equivalents | a) Detail of cash and cash equivalents The detail of balances included under cash and cash equivalents is as follows: As of December 31, 2020 2019 MCh$ MCh$ Cash and deposits in banks Cash 254,200 253,779 Deposits in the Central Bank of Chile 1,067,421 103,756 Deposits in local banks 27,017 14,254 Deposits in foreign banks 1,740,434 637,892 Subtotals cash and deposits in banks 3,089,072 1,009,681 Cash items in process of collection, net (1) 18,960 66,732 Highly liquid financial instruments (2) 1,337,754 295,551 Investments under resale agreements (3) 60,470 75,975 Totals cash and cash equivalents 4,506,256 1,447,939 (1) See letter b. “Cash in process of collection and in process of being cleared” on the next page. (2) Highly liquid financial instruments: Corresponds to financial instruments at fair value through profit and loss and financial instrument at fair value through othercomprehensive income with maturities that do not exceed three months from the acquisition date and the detail is as follows: As of December 31, Notes 2020 2019 MCh$ MCh$ Highly liquid financial instruments Financial instruments at fair value through profit or loss 6 132,043 28,772 Financial instruments at fair value through other comprehensive income 11 1,205,711 266,779 Totals 1,337,754 295,551 (3) Investments under resale agreements: Corresponds to resale agreements with maturities that do not exceed three months from the acquisition date, which are presented under the item "Investments under resale agreements" in the Consolidated Statement of Financial Position. The detail is as follows: As of December 31, Notes 2020 2019 MCh$ MCh$ Investment under resale agreements 7a) 60,470 75,975 |
Schedule of Cash in the Process of Collection | Cash items in process of collection and in process of being cleared represent domestic transactions, which have not been processed through the central domestic clearinghouse, or international transactions that may be delayed in settlement due to timing differences. The detail of these balances is as follows: As of December 31, 2020 2019 MCh$ MCh$ Assets Documents held by other banks (documents to be cleared) 37,030 76,922 Funds receivable 136,162 154,383 Subtotals assets 173,192 231,305 Liabilities Funds payable 154,232 164,573 Subtotals liabilities 154,232 164,573 Cash items in process of collection, net 18,960 66,732 |
Financial Instruments at Fair_2
Financial Instruments at Fair Value through Profit or Loss (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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Schedule of Financial Instruments at Fair Value Through Profit or Loss | The detail of the financial instruments at fair value through profit or loss is as follows: As of December 31, 2020 2019 MCh$ MCh$ Chilean Central Bank and Government securities Central Bank of Chile securities 21,369 52,019 Other Chilean Central Bank and Government securities 86,673 28,879 Other Chilean securities Bonds 271 905 Notes — — Other securities — 22,218 Foreign financial securities Bonds 432,178 67,088 Other securities — 4,390 Investments in mutual funds Funds managed by related entities 4,861 5,870 Funds managed by third parties 33 Other investments Other financial instruments at FVTPL 2,341 2,300 Totals 582,710 183,702 |
Investments under Resale Agre_2
Investments under Resale Agreements and Obligations under Repurchase Agreements (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [Abstract] | |
Schedule of Instruments Acquired Under Agreements to Resale | a) The Bank purchases financial instruments to resell them on a future date. As of December 31, 2020 and 2019 the instruments acquired under agreements to resell are as follows: As of December 31, 2020 As of December 31, 2019 Between 3 Between 3 Up to 3 months and Over 1 Up to 3 months and Over 1 months 1 year year Totals months 1 year year Totals MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Chilean Central Bank and Government securities Chilean Central Bank securities — — — — 20,593 — — 20,593 Government securities — 43,633 — 43,633 17,491 — — 17,491 Other Chilean Central Bank and Government securities — — — — — — — — Other Chilean securities Bonds 40,540 — — 40,540 8,603 — — 8,603 Notes — — — — — — — — Other securities — — — — — — — — Foreign financial securities Central Banks and Government securities 14,072 — 1,477 15,549 27,546 — — 27,546 Other foreign instruments 5,858 — — 5,858 1,742 — — 1,742 Totals 60,470 43,633 1,477 105,580 75,975 — — 75,975 |
Schedule of Instruments Acquired Under Agreements to Repurchase | a) As of December 31, 2020 and 2019, the instruments acquired under agreements to repurchase are as follows: As of December 31, 2020 As of December 31, 2019 Between 3 Between 3 Up to 3 months and Over 1 Up to 3 months and Over 1 months 1 year year Totals months 1 year year Totals MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Chilean Central Bank and Government securities Chilean Central Bank securities 310,565 — — 310,565 168,778 — — 168,778 Government securities 49,337 — — 49,337 11,970 — — 11,970 Other Chilean Central Bank and Government securities — — — — — — — — Other Chilean securities Bonds 39,691 — — 39,691 318,389 — — 318,389 Notes — — — — — — — — Other Chilean securities — — — — — — — — Foreign financial securities Central Banks and Government securities — — — — — — — — Other foreign instruments 239,258 — — 239,258 60,320 — — 60,320 Totals 638,851 — — 638,851 559,457 — — 559,457 |
Financial Derivative Contract_2
Financial Derivative Contracts and Hedge Accounting (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Schedule of Financial Assets and Liabilities | a) Total derivative contracts portfolio The Bank and subsidiaries use the following derivative financial instruments for hedge accounting and trading purposes, which, in order to capture the credit risk in the valuation, are adjusted to reflect the CVA (Credit Value Adjustment) and DVA (Debit Value Adjustment). The detail of these instruments is presented below: As of December 31, 2020 As of December 31, 2019 Assets Liabilities Assets Liabilities MCh$ MCh$ MCh$ MCh$ Derivatives held for hedge accounting 306,472 162,450 203,868 144,069 Derivatives held for trading 3,676,331 3,511,141 2,951,089 2,793,965 Totals 3,982,803 3,673,591 3,154,957 2,938,034 |
Schedule of Portfolio of Financial Derivative Assets | Financial derivative assets As of December 31, 2020 Notional Between 3 months Up to 3 months and 1 year Over 1 year Fair value MCh$ MCh$ MCh$ MCh$ Currency forwards 7,882,839 2,358,854 417,178 472,208 Currency swaps 246,599 932,372 8,656,771 938,762 Interest rate swaps 3,828,930 6,424,682 26,020,406 2,570,553 Call currency options 13,402 15,483 — 195 Put currency options 7,797 10,514 — 1,085 Totals 11,979,567 9,741,905 35,094,355 3,982,803 As of December 31, 2019 Notional Between 3 months Up to 3 months and 1 year Over 1 year Fair value MCh$ MCh$ MCh$ MCh$ Currency forwards 8,174,950 3,931,647 1,234,741 454,300 Currency swaps 217,953 923,526 6,640,937 855,780 Interest rate swaps 4,125,562 7,225,228 31,308,891 1,840,855 Call currency options 34,713 49,753 748 3,805 Put currency options 5,067 15,940 — 217 Totals 12,558,245 12,146,094 39,185,317 3,154,957 |
Schedule of Portfolio of Financial derivative liabilities | Financial derivative liabilities As of December 31, 2020 Notional Between 3 months Up to 3 months and 1 year Over 1 year Fair value MCh$ MCh$ MCh$ MCh$ Currency forwards 7,913,739 1,989,333 935,565 433,863 Currency swaps 335,192 953,275 7,480,516 775,122 Interest rate swaps 3,509,633 6,205,021 27,404,647 2,463,249 Call currency options 9,434 15,404 — 271 Put currency options 5,753 5,786 — 1,086 Totals 11,773,751 9,168,819 35,820,728 3,673,591 As of December 31, 2019 Notional Between 3 months Up to 3 months and 1 year Over 1 year Fair value MCh$ MCh$ MCh$ MCh$ Currency forwards 11,622,926 4,440,565 830,870 504,276 Currency swaps 182,481 831,635 6,249,881 769,072 Interest rate swaps 2,939,069 6,101,205 29,362,545 1,662,363 Call currency options 31,482 51,810 — 1,758 Put currency options 18,837 39,941 374 565 Totals 14,794,795 11,465,156 36,443,670 2,938,034 |
Schedule of Portfolio of Derivative Financial Instruments for Hedge Accounting and Trading Purposes | As of December 31, 2020 and 2019, the portfolio of financial derivative instruments held for hedge accounting and trading purposes is as follows: As of December 31, 2020 Notional Fair value Between 3 months and Up to 3 months 1 year Over 1 year Assets Liabilities MCh$ MCh$ MCh$ MCh$ MCh$ Derivatives held for hedge accounting 3,704,562 965,569 2,261,626 306,472 162,450 Fair value hedge Currency forwards — — — — — Currency swaps — — 74,894 9,666 — Interest rate swaps — 201,193 1,960,759 203,913 61,705 Subtotals — 201,193 2,035,653 213,579 61,705 Cash flow hedge Currency forwards 1,657,848 716,842 178,107 3,919 33,112 Currency swaps — — — — — Interest rate swaps 4,000 29,233 47,866 2,094 238 Subtotals 1,661,848 746,075 225,973 6,013 33,350 Hedge of net investment in a foreign operation Currency forwards 2,042,714 18,301 — 86,880 67,395 Subtotals 2,042,714 18,301 — 86,880 67,395 Derivatives held for trading 20,048,756 17,945,155 68,653,457 3,676,331 3,511,141 Currency forwards 12,096,016 3,613,044 1,174,636 381,409 333,356 Currency swaps 581,791 1,885,647 16,062,393 929,096 775,122 Interest rate swaps 7,334,563 12,399,277 51,416,428 2,364,546 2,401,306 Call currency options 22,836 30,887 — 195 271 Put currency options 13,550 16,300 — 1,085 1,086 Subtotals 20,048,756 17,945,155 68,653,457 3,676,331 3,511,141 Totals 23,753,318 18,910,724 70,915,083 3,982,803 3,673,591 Note 8 - Financial Derivative Contracts and Hedge Accounting, continued As of December 31, 2019 Notional Fair value Between 3 months and Up to 3 months 1 year Over 1 year Assets Liabilities MCh$ MCh$ MCh$ MCh$ MCh$ Derivatives held for hedge accounting 3,679,576 1,371,790 3,072,685 203,868 144,069 Fair value hedge Currency forwards — — — — — Currency swaps — — 47,463 — 1,479 Interest rate swaps — 29,342 1,952,968 152,011 50,247 Subtotals — 29,342 2,000,431 152,011 51,726 Cash flow hedge Currency forwards 1,426,697 849,243 556,633 4,174 17,798 Currency swaps — 47,155 78,592 6,145 2,703 Interest rate swaps 32,408 — 437,029 2,722 5,820 Subtotals 1,459,105 896,398 1,072,254 13,041 26,321 Hedge of net investment in a foreign operation Currency forwards 2,220,471 446,050 — 38,816 66,022 Subtotal 2,220,471 446,050 — 38,816 66,022 Derivatives held for trading 23,673,464 22,239,460 72,556,302 2,951,089 2,793,965 Currency forwards 16,150,708 7,076,919 1,508,978 411,310 420,456 Currency swaps 400,434 1,708,006 12,764,763 849,635 764,890 Interest rate swaps 7,032,223 13,297,091 58,281,439 1,686,122 1,606,296 Call currency options 66,195 101,563 748 3,805 1,758 Put currency options 23,904 55,881 374 217 565 Subtotals 23,673,464 22,239,460 72,556,302 2,951,089 2,793,965 Totals 27,353,040 23,611,250 75,628,987 3,154,957 2,938,034 |
Schedule of the Effective Portion Generated by Cash Flow Derivatives | As of December 31, 2020 2019 Effective Ineffective Effective Ineffective portion portion portion portion MCh$ MCh$ MCh$ MCh$ Hedged item Loans and accounts receivables from customers Loans (inflation-indexed) (527) (37) (3,698) (516) Commercial loans (interest rate) 1,654 140 1,135 289 Time deposits and other time liabilities Time deposits (1,090) (1) (4,275) 91 Debt instruments issued Senior bonds (34) — — — Interbank borrowings Interbank loans 2,320 (7) (3,019) (8) Forecast transaction Payment in USD 882 — 3,065 — Totals 3,205 95 (6,792) (144) Note 8 - Financial Derivative Contracts and Hedge Accounting, continued The effective portion generated by cash flow derivatives recorded in the Statement of Changes in Equity as of December 31, 2020 and 2019. The ineffective portion is recognized immediately in the Consolidated Statement of Income (Loss). This ineffectiveness is generated because both the hedged item and the hedged object do not mirror each other, which means that changes in value attributable to rate and reset components are not fully offset, but remain within the effectiveness range defined by the standard. The income generated by cash flow hedge derivatives whose effect was transferred from Other Comprehensive Income (Loss) to Income for the year, is as follow: For the year ended 2020 2019 MCh$ MCh$ Hedged item Loans and accounts receivables from customers Loans (inflation-indexed) 1,617 3,681 Commercial loans (interest rate) 505 (1,134) Time deposits and other time liabilities Time deposits (*) (4,324) 4,088 Debt instruments issued Senior bonds — — Interbank borrowings Interbank loans — — Forecast Transaction Payment in USD — — Totals (2,202) 6,635 (*) Includes the effects of the discontinuing cash flow hedge strategy on time deposits. |
Schedule of Gains or Losses on the Hedge of the Net Investment | Note 8 - Financial Derivative Contracts and Hedge Accounting, continued · The ineffective portion is recognized in profit or loss. No such amounts were recorded in 2020 and 2019. As of December 31, Notes 2020 2019 MCh$ MCh$ Opening balances (10,756) 21,657 Gains (losses) on hedge of net investment in foreign operation, before tax 24 b. 80,722 (46,786) Income tax relating to hedges of net investment in foreign operations 24 b. (21,795) 14,373 Ending balances 48,171 (10,756) |
Schedule of Hedge Net Investment | Hedge of net investment As of December 31, 2020 Statements of Changes in Statement Notional Equity of Income Effective Between 1 and Between 3 and portion for the Ineffective Up to 1 year 3 years 6 years Over 6 years year portion MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Hedged items Net investment in New York Branch 1,897,025 — — — 51,803 — Net investment in Itaú Corpbanca Colombia 163,990 — — — (8,231) — Total 2,061,015 — — — 43,572 — Hedging instrument — — — — Foreign currency forwards 2,061,015 — — — 43,572 — As of December 31, 2019 Statements of Changes in Statement Notional Equity of Income Effective Between 1 and Between 3 and portion for the Ineffective Up to 1 year 3 years 6 years Over 6 years year portion MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Hedged items Net investment in New York Branch 2,360,798 — — — (35,744) — Net investment in Itaú Corpbanca Colombia 305,723 — — — (11,042) — Total 2,666,521 — — — (46,786) — Hedging instrument Foreign currency forwards 2,666,521 — — — (46,786) — |
Fair Value Hedges [Member] | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Schedule of nominal value of hedge items | The following table presents the hedged items and the hedging instrument at fair value as of December 31, 2020 and 2019, detailed by maturity: As of December 31, 2020 Notional Between 1 Between 3 and Up to 1 year and 3 years 6 years Over 6 years Totals MCh$ MCh$ MCh$ MCh$ MCh$ Hedged items Loans and accounts receivable from customers Mortgage loans (1) 162,429 242,180 16,753 241,691 663,053 Time deposits and other time liabilities Time deposits — 20,472 5,817 — 26,289 Financial instruments at FVTPL Treasury bonds 9,950 187,635 20,540 37,527 255,652 Debt instruments issued Senior bonds 29,070 70,000 428,077 688,967 1,216,114 Interbank borrowings Interbank loans — 75,994 — — 75,994 Totals 201,449 596,281 471,187 968,185 2,237,102 Hedging instruments Currency swaps — 74,894 — — 74,894 Interest rate swaps 201,193 521,387 471,187 968,185 2,161,952 Totals 201,193 596,281 471,187 968,185 2,236,846 (1) Colombia: The information includes the effects on the hedge item generated by prepayments; therefore, cash flows from the hedge item and the hedging instrument are not perfectly balanced. As of December 31, 2019 Notional Between 1 Between 3 and Up to 1 year and 3 years 6 years Over 6 years Totals MCh$ MCh$ MCh$ MCh$ MCh$ Hedged items Loans and accounts receivable from customers Commercial and mortgage loans 1,032 — — — 1,032 Mortgage loans (1) — 342,159 80,629 263,067 685,855 Financial instruments at FVTPL Treasury bonds — 52,704 49,932 25,458 128,094 Debt instruments issued Senior bonds 28,310 98,310 80,620 1,007,834 1,215,074 Totals 29,342 493,173 211,181 1,296,359 2,030,055 Hedging instruments Currency swaps — 47,463 — — 47,463 Interest rate swaps 29,342 445,428 211,181 1,296,359 1,982,310 Totals 29,342 492,891 211,181 1,296,359 2,029,773 (1) Colombia: The information includes the effects on the hedge item generated by prepayments; therefore, cash flows from the hedge item and the hedging instrument are not perfectly balanced. Note 8 - Financial Derivative Contracts and Hedge Accounting, continued Below is an estimate of the periods in which flows are expected to be produced: Forecasted cash flows by interest rate risk: As of December 31, 2020 Notional Between 1 and Between 3 and Up to 1 year 3 years 6 years Over 6 years Totals MCh$ MCh$ MCh$ MCh$ MCh$ Hedged items Inflows (*) 12,496 191,835 11,437 3,563 219,331 Outflows (18,448) (130,799) (48,778) (43,439) (241,464) Net Flows (5,952) 61,036 (37,341) (39,876) (22,133) Hedging instruments (**) Outflows 18,448 130,799 48,778 43,439 241,464 Inflows (12,240) (191,835) (11,437) (3,563) (219,075) Net flows 6,208 (61,036) 37,341 39,876 22,389 (*) Colombia: The information includes the effects on the hedge item generated by prepayments; therefore, cash flows from the hedge item and the hedging instrument are not perfectly balanced. (**) Only includes cash flows forecast portion of the hedge instruments used to cover interest rate risk. As of December 31, 2019 Notional Between 1 and Between 3 and Up to 1 year 3 years 6 years Over 6 years Totals MCh$ MCh$ MCh$ MCh$ MCh$ Hedged items Inflows (*) 9,890 66,797 13,343 4,570 94,600 Outflows (45,795) (36,038) (129,595) (54,460) (265,888) Net flows (35,905) 30,759 (116,252) (49,890) (171,288) Hedging instruments (**) Outflows (9,890) (66,515) (13,343) (4,570) (94,318) Inflows 45,795 36,038 129,595 54,460 265,888 Net flows 35,905 (30,477) 116,252 49,890 171,570 (*) Colombia: The information includes the effects on the hedge item generated by prepayments; therefore, cash flows from the hedge item and the hedging instrument are not perfectly balanced. (**) Only includes cash flows forecast portion of the hedge instruments used to cover interest rate risk. |
Cash Flow Hedges [Member] | |
Disclosure of maturity analysis for derivative financial liabilities [line items] | |
Schedule of nominal value of hedge items | · The following table presents the nominal values of the hedged item as of December 31, 2020 and 2019: As of December 31, 2020 Notional Between 1 and Between 3 and Up to 1 year 3 years 6 years Over 6 years Totals MCh$ MCh$ MCh$ MCh$ MCh$ Hedged item Loans and accounts at amortized cost Loans (inflation-indexed) 2,103,296 174,422 — — 2,277,718 Commercial loans (interest rate) 23,000 20,000 — — 43,000 Debt instruments issued Senior bonds — 27,866 — — 27,866 Interbank borrowings Interbank loans 240,831 3,685 — — 244,516 Forecast transaction Payment in USD 40,796 — — — 40,796 Totals 2,407,923 225,973 — — 2,633,896 Hedging instruments Currency forwards 2,374,690 178,107 — — 2,552,797 Currency swaps — — — — — Interest rate swaps 33,233 47,866 — — 81,099 Totals 2,407,923 225,973 — — 2,633,896 As of December 31, 2019 Notional Between 1 and Between 3 and Up to 1 year 3 years 6 years Over 6 years Totals MCh$ MCh$ MCh$ MCh$ MCh$ Hedged item Loans and accounts at amortized cost Loans (inflation-indexed) 1,804,079 566,729 — — 2,370,808 Commercial loans (interest rate) 5,000 43,000 — — 48,000 Time deposits and other time liabilities Time deposits 27,408 — 342,633 41,300 411,341 Interbank borrowings Interbank loans 476,036 — 78,592 — 554,628 Forecast transaction Payment in USD 42,979 — — — 42,979 Totals 2,355,502 609,729 421,225 41,300 3,427,756 Hedging instruments Currency forwards 2,275,939 556,633 — — 2,832,572 Currency swaps 47,155 — 78,592 — 125,747 Interest rate swaps 32,408 53,096 342,633 41,300 469,437 Totals 2,355,502 609,729 421,225 41,300 3,427,756 Note 8 - Financial Derivative Contracts and Hedge Accounting, continued Below is an estimate of the periods in which flows are expected to occur. As of December 31, 2020 Notional Between 1 and Between 3 and Up to 1 year 3 years 6 years Over 6 years Totals MCh$ MCh$ MCh$ MCh$ MCh$ Hedged items Inflows 47,490 5,925 — — 53,415 Outflows (240,854) (31,551) — — (272,405) Net Flows (193,364) (25,626) — — (218,990) Hedging instruments (*) Outflows 240,854 31,551 — — 272,405 Inflows (47,490) (5,925) — — (53,415) Net flows 193,364 25,626 — — 218,990 As of December 31, 2019 Notional Between 1 and Between 3 and Up to 1 year 3 years 6 years Over 6 years Totals MCh$ MCh$ MCh$ MCh$ MCh$ Hedged items Inflows 43,430 23,797 — — 67,227 Outflows (484,997) (17,615) (13,260) (941) (516,813) Net Flows (441,567) 6,182 (13,260) (941) (449,586) Hedging instruments (*) Outflows (43,430) (23,797) — — (67,227) Inflows 484,997 17,615 13,260 941 516,813 Net flows 441,567 (6,182) 13,260 941 449,586 (*) Only includes cash flows forecast portion of the hedge instruments used to cover interest rate risk. |
Interbank Loans (Tables)
Interbank Loans (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [Abstract] | |
Schedule of Interbank Loans, Net | a) As of December 31, 2020 and 2019, the balances presented under the item "Interbank loans, net" are as follow: As of December 31, 2020 2019 MCh$ MCh$ Local banks Loans to local banks — — Allowances for loans losses — — Subtotals — — Foreign banks Interbank cash loans — 37,048 Loans to foreign banks — 755 Non-transferable deposits with foreign banks 7,131 18,832 Allowances for loans losses (10) (239) Subtotals 7,121 56,396 Chilean Central Bank Deposits with the Chilean Central Bank not available — — Subtotals — — Totals 7,121 56,396 |
Schedule of Movements in Provisions and Impairment for Loans with Domestic and Foreign Banks | a) Movements in provisions and impairment for local and foreign interbank loans during the year ended December 31, 2020 and 2019 are as follows: Foreign banks 2020 2019 Stage 1 Stage 2 Stage 2 Stage 1 Stage 2 Stage 2 12-Month ECL Lifetime ECL Lifetime ECL Totals 12-Month ECL Lifetime ECL Lifetime ECL Totals MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Opening balances as of January 1, (239) — — (239) (463) — — (463) Changes in the allowances - Transfer to stage 1 — — — — — — — — - Transfer to stage 2 — — — — — — — — - Transfer to stage 3 — — — — — — — — - Increases due to change in credit risk — — — — — — — — - Decreases due to change in credit risk — — — — — — — — - Charge-offs — — — — — — — — - Changes due to modifications that did not result in derecognition — — — — — — — — New financial assets originated or purchased (10) — — (10) (316) — — (316) Financial assets that have been derecognized 218 — — 218 574 — — 574 Changes in models/risk parameters — — — — — — — — Foreign exchange and other movements 21 — — 21 (34) — — (34) Ending balances as of December 31, (10) — — (10) (239) — — (239) |
Loans and Accounts Receivable_2
Loans and Accounts Receivable from Customers (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of financial assets [line items] | |
Schedule of Composition of Loan Portfolio | As of December 31, 2020, the loan portfolio is detailed as follows: Allowances for loan losses Individual Group As of December 31, 2020 Gross Assets allowances allowances Totals Net assets MCh$ MCh$ MCh$ MCh$ MCh$ Commercial loans: Commercial loans 12,172,207 (321,444) (347,928) (669,372) 11,502,835 Foreign trade loans 847,086 — (21,641) (21,641) 825,445 Checking account debtors 70,126 — (8,080) (8,080) 62,046 Factoring transactions 155,540 — (4,053) (4,053) 151,487 Student loans 594,688 — (17,702) (17,702) 576,986 Leasing transactions 940,989 — (24,402) (24,402) 916,587 Other commercial loans and receivables 28,163 — (2,367) (2,367) 25,796 Subtotals 14,808,799 (321,444) (426,173) (747,617) 14,061,182 Mortgage loans: Loans with mortgage finance bonds 23,345 — (232) (232) 23,113 Endorsable mutual mortgage loans 90,456 — (1,047) (1,047) 89,409 Other mutual mortgage loans 4,820,863 — (59,799) (59,799) 4,761,064 Mortgage leasing transactions 307,574 — (11,718) (11,718) 295,856 Other mortgage loans and receivables 74,515 — (669) (669) 73,846 Subtotals 5,316,753 — (73,465) (73,465) 5,243,288 Consumer loans: Installment consumer loans 1,866,015 — (181,319) (181,319) 1,684,696 Checking account debtors 124,009 — (11,064) (11,064) 112,945 Credit card balances 467,624 — (24,770) (24,770) 442,854 Consumer leasing transactions 1,467 — (182) (182) 1,285 Other consumer loans and receivables 33,314 — (3,456) (3,456) 29,858 Subtotals 2,492,429 — (220,791) (220,791) 2,271,638 Totals 22,617,981 (321,444) (720,429) (1,041,873) 21,576,108 Note 10 - Loans and Accounts Receivable from Customers, continued As of December 31, 2019, the loan portfolio is detailed as follows: Allowances for loan losses Individual Group As of December 31, 2019 Gross Assets allowances allowances Totals Net assets MCh$ MCh$ MCh$ MCh$ MCh$ Commercial loans: Commercial loans 12,288,810 (193,135) (224,925) (418,060) 11,870,750 Foreign trade loans 1,109,169 — (74,488) (74,488) 1,034,681 Checking account debtors 154,276 — (10,508) (10,508) 143,768 Factoring transactions 221,104 — (3,694) (3,694) 217,410 Student loans 654,721 — (19,442) (19,442) 635,279 Leasing transactions 1,005,209 — (16,302) (16,302) 988,907 Other commercial loans and receivables 27,255 — (2,705) (2,705) 24,550 Subtotals 15,460,544 (193,135) (352,064) (545,199) 14,915,345 Mortgage loans: Loans with mortgage finance bonds 30,269 — (378) (378) 29,891 Endorsable mutual mortgage loans 103,850 — (1,408) (1,408) 102,442 Other mutual mortgage loans 4,384,547 — (63,528) (63,528) 4,321,019 Mortgage leasing transactions 336,587 — (12,879) (12,879) 323,708 Other mortgage loans and receivables 20,788 — (308) (308) 20,480 Subtotals 4,876,041 — (78,501) (78,501) 4,797,540 Consumer loans: Installment consumer loans 2,005,038 — (193,726) (193,726) 1,811,312 Checking account debtors 206,738 — (20,106) (20,106) 186,632 Credit card balances 537,741 — (37,998) (37,998) 499,743 Consumer leasing transactions 3,113 — (227) (227) 2,886 Other consumer loans and receivables 45,599 — (4,360) (4,360) 41,239 Subtotals 2,798,229 — (256,417) (256,417) 2,541,812 Totals 23,134,814 (193,135) (686,982) (880,117) 22,254,697 |
Schedule of movements of disaggregation of the loan portfolio | As of December 31, 2020, the Bank pledged as collateral to the Central Bank of Chile (BCCh) loans from the commercial portfolio in order to access the new Conditional Funding Facility (FCIC). The program includes access to 4-year funds at the BCCh overnight rate, with available funds size increasing as a function of additional loans pledged as collateral. The pledged loans have an outstanding principal balance of Ch$1,766,997 million. Additional disclosures on FCIC are included in Notes 19 and 23, letter e). The following tables present the movements for the total loan portfolio disaggregated by individually and group assesed loans for the year ended December 31, 2020 and 2019: Individually assessed Group assessed Stage 1 Stage 2 Stage 3 Stage 1 Stage 2 Stage 3 12-Month Lifetime Lifetime 12-Month Lifetime Lifetime ECL ECL ECL Subtotals ECL ECL ECL Subtotals Totals Loan portfolio Opening balances as of January 1, 2020 20,807 321,488 268,211 610,506 18,691,115 2,864,199 968,994 22,524,308 23,134,814 Changes in the allowances - Transfer to stage 1 — — — — 627,546 (601,963) (25,583) — — - Transfer to stage 2 (7,573) 7,573 — — (1,791,800) 1,876,532 (84,732) — — - Transfer to stage 3 (5,410) (84,512) 89,922 — (69,979) (153,174) 223,153 — — - Charge-offs — — (198) (198) (15,705) (38,228) (261,634) (315,567) (315,765) - Changes due to modifications that did not result in derecognition — (1,810) (1,279) (3,089) (235,650) (25,330) (1,908) (262,888) (265,977) New financial assets originated or purchased 32,170 80,355 122,624 235,149 6,798,612 1,474,294 408,576 8,681,482 8,916,631 Financial assets that have been derecognized (13,399) (73,546) (104,964) (191,909) (7,224,940) (837,836) (195,902) (8,258,678) (8,450,587) Net transfer (from) group to individually assessed 49,231 170,722 152,019 371,972 (49,231) (170,722) (152,019) (371,972) — Foreign exchange and other movements 25,096 79,267 (37,840) 66,523 (402,950) (110,636) 45,928 (467,658) (401,135) Ending balances as of December 31, 2020 100,922 499,537 488,495 1,088,954 16,327,018 4,277,136 924,873 21,529,027 22,617,981 Individually assessed Group assessed Stage 1 Stage 2 Stage 3 Stage 1 Stage 2 Stage 3 12-Month Lifetime Lifetime 12-Month Lifetime Lifetime ECL ECL ECL Subtotals ECL ECL ECL Subtotals Totals Loan portfolio Opening balances as of January 1, 2019 — 367,611 140,943 508,554 17,697,774 2,532,128 744,034 20,973,936 21,482,490 Changes in the allowances — — - Transfer to stage 1 — — — — 392,454 (371,983) (20,471) — — - Transfer to stage 2 — — — — (749,463) 816,577 (67,114) — — - Transfer to stage 3 — (116,202) 116,202 — (113,903) (192,565) 306,468 — — - Charge-offs — — (21,841) (21,841) (13,979) (22,862) (114,590) (151,431) (173,272) - Changes due to modifications that did not result in derecognition — — — — — — — — — New financial assets originated or purchased — 55,367 32,129 87,496 6,487,407 583,765 184,664 7,255,836 7,343,332 Financial assets that have been derecognized — (46,681) (11,754) (58,435) (5,024,522) (771,046) (201,451) (5,997,019) (6,055,454) Net transfer (from) group to individually assessed 20,807 25,659 — 46,466 (20,807) (25,659) — (46,466) — Foreign exchange and other movements — 35,734 12,532 48,266 36,154 315,844 137,454 489,452 537,718 Ending balances as of December 31, 2019 20,807 321,488 268,211 610,506 18,691,115 2,864,199 968,994 22,524,308 23,134,814 |
Schedule of Loan Portfolio Before Allowances for Loan Losses by Customer Economic | As of December 31, 2020 Local loans Foreign loans Totals Distribution percentage MCh$ MCh$ MCh$ % Commercial loans Manufacturing 973,913 87,253 1,061,166 Mining 336,354 198,635 534,989 Electricity, gas and water 694,970 404,875 1,099,845 Agriculture and livestock 328,563 166,191 494,754 Forestry and wood extraction 51,348 4,674 56,022 Fishing 31,461 4,273 35,734 Transport 498,450 88,563 587,013 Communications 52,911 3,254 56,165 Construction 1,536,686 300,997 1,837,683 Commerce 1,618,660 592,492 2,211,152 Services 2,761,121 839,930 3,601,051 Others 2,207,936 1,025,289 3,233,225 Subtotals 11,092,373 3,716,426 14,808,799 Mortgage loans 4,684,980 631,773 5,316,753 Consumer loans 1,706,234 786,195 2,492,429 Totals 17,483,587 5,134,394 22,617,981 Note 10 - Loans and Accounts Receivable from Customers, continued As of December 31, 2019 Local loans Foreign loans Totals Distribution percentage MCh$ MCh$ MCh$ % Commercial loans Manufacturing 988,739 111,000 1,099,739 Mining 292,263 259,352 551,615 Electricity, gas and water 685,749 439,792 1,125,541 Agriculture and livestock 309,648 174,295 483,943 Forestry and wood extraction 48,192 5,136 53,328 Fishing 42,397 4,505 46,902 Transport 478,737 80,534 559,271 Communications 25,209 9,717 34,926 Construction 1,757,874 348,955 2,106,829 Commerce 1,439,969 689,210 2,129,179 Services 2,864,307 1,080,264 3,944,571 Others 2,275,275 1,049,425 3,324,700 Subtotals 11,208,359 4,252,185 15,460,544 Mortgage loans 4,211,094 664,947 4,876,041 Consumer loans 1,923,745 874,484 2,798,229 Totals 17,343,198 5,791,616 23,134,814 |
Movements in Credit Risk Provisions | Movements in allowances for loan losses during the years ended December 31, 2020 and 2019, are as follows: Individually assessed Group assessed Stage 1 Stage 2 Stage 3 Stage 1 Stage 2 Stage 3 12-Month Lifetime Lifetime 12-Month Lifetime Lifetime ECL ECL ECL Subtotals ECL ECL ECL Subtotals Totals Opening balances as of January 1, 2020 — (42,000) (151,135) (193,135) (145,415) (260,297) (281,270) (686,982) (880,117) Changes in the allowances — - Net transfer to stage 1 — — — — (49,315) 39,672 9,643 — — - Net transfer to stage 2 82 (82) — — 19,402 (36,007) 16,605 — — - Net transfer to stage 3 63 9,055 (9,118) — 2,280 28,404 (30,684) — — - Increases due to change in credit risk — (8,381) (43,940) (52,321) (28,719) (64,496) (138,605) (231,820) (284,141) - Decreases due to change in credit risk — 4,761 2,088 6,849 59,996 37,255 8,515 105,766 112,615 - Charge-offs — — 198 198 1,390 14,707 158,261 174,358 174,556 - Changes due to modifications that did not result in derecognition — — — — — — 789 789 789 New financial assets originated or purchased (46) (12,567) (104,044) (116,657) (80,071) (118,827) (99,210) (298,108) (414,765) Financial assets that have been derecognized 500 4,873 61,022 66,395 50,438 68,536 59,044 178,018 244,413 Net transfer (from) to group and individually assessed — 3,009 (46,698) (43,689) — (3,009) 46,698 43,689 — Foreign exchange and other movements (645) (24,948) 36,509 10,916 4,553 13,652 (24,344) (6,139) 4,777 Ending balances as of December 31, 2020 (46) (66,280) (255,118) (321,444) (165,461) (280,410) (274,558) (720,429) (1,041,873) Note 10 - Loans and Accounts Receivable from Customers, continued Individually assessed Group assessed Stage 1 Stage 2 Stage 3 Stage 1 Stage 2 Stage 3 12-Month Lifetime Lifetime 12-Month Lifetime Lifetime ECL ECL ECL Subtotals ECL ECL ECL Subtotals Totals Opening balances as of January 1, 2019 — (46,153) (87,457) (133,610) (138,492) (232,447) (263,571) (634,510) (768,120) Changes in the allowances - Net transfer to stage 1 — — — — (29,418) 23,245 6,173 — — - Net transfer to stage 2 — — — — 14,077 (28,023) 13,946 — — - Net transfer to stage 3 — 22,642 (22,642) — 5,171 29,876 (35,047) — — - Increases due to change in credit risk — (1,216) (62,685) (63,901) (19,691) (80,613) (105,143) (205,447) (269,348) - Decreases due to change in credit risk — 7,758 1,096 8,854 51,409 39,540 11,452 102,401 111,255 - Charge-offs — — 13,891 13,891 983 7,631 144,859 153,473 167,364 - Changes due to modifications that did not result in derecognition — — — — — — — — — New financial assets originated or purchased — (12,496) (7,376) (19,872) (73,009) (91,324) (98,595) (262,928) (282,800) Financial assets that have been derecognized — 1,824 3,152 4,976 49,158 62,668 82,517 194,343 199,319 Net transfer (from) to group and individually assessed — (933) — (933) — 933 — 933 — Foreign exchange and other movements — (13,426) 10,886 (2,540) (5,603) 8,217 (37,861) (35,247) (37,787) Ending balances as of December 31, 2019 — (42,000) (151,135) (193,135) (145,415) (260,297) (281,270) (686,982) (880,117) The following analysis details the movement on allowances by type of portfolio (commercial, mortgage and consumer) is as follow: Individually assessed Group assessed Stage 1 Stage 2 Stage 3 Stage 1 Stage 2 Stage 3 12-Month Lifetime Lifetime 12-Month Lifetime Lifetime Commercial ECL ECL ECL Subtotals ECL ECL ECL Subtotals Totals Opening balances as of January 1, 2020 — (42,000) (151,135) (193,135) (73,036) (109,671) (169,357) (352,064) (545,199) Changes in the allowances - - Net transfer to stage 1 — — — — (10,902) 9,080 1,822 — — - Net transfer to stage 2 82 (82) — — 6,731 (10,831) 4,100 — — - Net transfer to stage 3 63 9,055 (9,118) — 797 15,934 (16,731) — — - Increases due to change in credit risk — (8,381) (43,940) (52,321) (18,554) (33,761) (102,904) (155,219) (207,540) - Decreases due to change in credit risk — 4,761 2,088 6,849 18,779 12,941 4,913 36,633 43,482 - Charge-offs — — 198 198 72 305 86,507 86,884 87,082 - Changes due to modifications that did not result in derecognition — — — — — — (869) (869) (869) New financial assets originated or purchased (46) (12,567) (104,044) (116,657) (43,530) (57,865) (73,813) (175,208) (291,865) Financial assets that have been derecognized 500 4,873 61,022 66,395 30,039 27,096 38,989 96,124 162,519 Net transfer (from) to group and individually assessed — 3,009 (46,698) (43,689) — (3,009) 46,698 43,689 — Foreign exchange and other movements (645) (24,948) 36,509 10,916 1,524 23,238 (30,905) (6,143) 4,773 Ending balances as of December 31, 2020 (46) (66,280) (255,118) (321,444) (88,080) (126,543) (211,550) (426,173) (747,617) Note 10 - Loans and Accounts Receivable from Customers, continued Individually assessed Group assessed Stage 1 Stage 2 Stage 3 Stage 1 Stage 2 Stage 3 12-Month Lifetime Lifetime 12-Month Lifetime Lifetime Commercial ECL ECL ECL Subtotals ECL ECL ECL Subtotals Totals Opening balances as of January 1, 2019 — (46,153) (87,457) (133,610) (61,971) (109,805) (179,321) (351,097) (484,707) Changes in the allowances — - Net transfer to stage 1 — — — — (9,243) 7,555 1,688 — — - Net transfer to stage 2 — — — — 6,626 (10,260) 3,634 — — - Net transfer to stage 3 — 22,642 (22,642) — 1,927 11,340 (13,267) — — - Increases due to change in credit risk — (1,216) (62,685) (63,901) (13,071) (32,280) (46,212) (91,563) (155,464) - Decreases due to change in credit risk — 7,758 1,096 8,854 18,572 19,449 8,373 46,394 55,248 - Charge-offs — — 13,891 13,891 28 179 68,119 68,326 82,217 - Changes due to modifications that did not result in derecognition — — — — — — — — — New financial assets originated or purchased — (12,496) (7,376) (19,872) (36,672) (35,008) (45,007) (116,687) (136,559) Financial assets that have been derecognized — 1,824 3,152 4,976 23,152 28,514 58,013 109,679 114,655 Net transfer (from) to group and individually assessed — (933) — (933) — 933 — 933 — Foreign exchange and other movements — (13,426) 10,886 (2,540) (2,384) 9,712 (25,377) (18,049) (20,589) Ending balances as of December 31, 2019 — (42,000) (151,135) (193,135) (73,036) (109,671) (169,357) (352,064) (545,199) Group assessed Stage 1 Stage 2 Stage 3 Mortgage 12-Month ECL Lifetime ECL Lifetime ECL Subtotals Totals Opening balances as of January 1, 2020 (5,680) (49,072) (23,749) (78,501) (78,501) Changes in the allowances - - - Transfer to stage 1 (8,391) 7,706 685 — — - Transfer to stage 2 1,243 (8,157) 6,914 — — - Transfer to stage 3 29 3,576 (3,605) — — - Increases due to change in credit risk (3,313) (8,190) (3,238) (14,741) (14,741) - Decreases due to change in credit risk 6,499 4,572 2,870 13,941 13,941 - Charge-offs — 9 2,700 2,709 2,709 - Changes due to modifications that did not result in derecognition — — 1,344 1,344 1,344 New financial assets originated or purchased (2,010) (1,626) 5,948 2,312 2,312 Financial assets that have been derecognized 557 2,561 2,198 5,316 5,316 Changes in models/risk parameters — — — — — Foreign exchange and other movements 334 107 (6,286) (5,845) (5,845) Ending balances as of December 31, 2020 (10,732) (48,514) (14,219) (73,465) (73,465) Note 10 - Loans and Accounts Receivable from Customers, continued Group assessed Stage 1 Stage 2 Stage 3 Mortgage 12-Month ECL Lifetime ECL Lifetime ECL Subtotals Totals Opening balances as of January 1, 2019 (5,756) (37,800) (22,561) (66,117) (66,117) Changes in the allowances - - - Transfer to stage 1 (3,316) 2,901 415 — — - Transfer to stage 2 484 (5,430) 4,946 — — - Transfer to stage 3 244 7,413 (7,657) — — - Increases due to change in credit risk (530) (25,837) (5,502) (31,869) (31,869) - Decreases due to change in credit risk 4,200 8,916 2,564 15,680 15,680 - Charge-offs — 16 2,624 2,640 2,640 - Changes due to modifications that did not result in derecognition — — — — — New financial assets originated or purchased (1,347) (1,622) (512) (3,481) (3,481) Financial assets that have been derecognized 605 2,553 2,343 5,501 5,501 Changes in models/risk parameters — — — — — Foreign exchange and other movements (182) (409) (855) (855) Ending balances as of December 31, 2019 (5,680) (49,072) (23,749) (78,501) (78,501) Group assessed Stage 1 Stage 2 Stage 3 Consumer 12-Month ECL Lifetime ECL Lifetime ECL Subtotals Totals Opening balances as of January 1, 2020 (66,692) (113,507) (76,218) (256,417) (256,417) Changes in the allowances — — - Transfer to stage 1 (30,022) 22,886 7,136 — — - Transfer to stage 2 11,428 (17,019) 5,591 — — - Transfer to stage 3 1,454 8,894 (10,348) — — - Increases due to change in credit risk (6,852) (22,545) (32,463) (61,860) (61,860) - Decreases due to change in credit risk 34,718 19,742 732 55,192 55,192 - Charge-offs 1,318 14,393 69,054 84,765 84,765 - Changes due to modifications that did not result in derecognition — — 314 314 314 New financial assets originated or purchased (34,531) (59,336) (31,345) (125,212) (125,212) Financial assets that have been derecognized 19,842 38,879 17,857 76,578 76,578 Changes in models/risk parameters — — — — — Foreign exchange and other movements 2,688 2,260 901 5,849 5,849 Ending balances as of December 31, 2020 (66,649) (105,353) (48,789) (220,791) (220,791) Note 10 - Loans and Accounts Receivable from Customers, continued Group assessed Stage 1 Stage 2 Stage 3 Consumer 12-Month ECL Lifetime ECL Lifetime ECL Subtotals Totals Opening balances as of January 1, 2019 (70,765) (84,842) (61,689) (217,296) (217,296) Changes in the allowances - - - Transfer to stage 1 (16,859) 12,789 4,070 — — - Transfer to stage 2 6,968 (12,334) 5,366 — — - Transfer to stage 3 3,000 11,123 (14,123) — — - Increases due to change in credit risk (6,090) (34,493) (53,429) (94,012) (94,012) - Decreases due to change in credit risk 28,637 11,175 515 40,327 40,327 - Charge-offs 955 7,436 74,116 82,507 82,507 - Changes due to modifications that did not result in derecognition — — — — — New financial assets originated or purchased (34,990) (54,694) (53,076) (142,760) (142,760) Financial assets that have been derecognized 25,401 31,601 22,161 79,163 79,163 Changes in models/risk parameters — — — — — Foreign exchange and other movements (2,949) (1,268) (129) (4,346) (4,346) Ending balances as of December 31, 2019 |
Schedule of Detail of Loans and Receivables Sold | As of December 31, 2019, the Bank and its subsidiaries derecognized 100% of its sold portfolio, thus complying with the requirements of the accounting policy for derecognizing financial assets and liabilities as set forth in Note 1, letter k), section iv) of these Consolidated Financial Statements. For the year ended December 31, 2020 For the year ended December 31, 2019 Adjustment Net effect on Adjustment Net effect on Portfolio Loan Value Allowances Sale price to EIR income Loan Value Allowances Sale price to EIR income MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Current — — — — — 14,231 (14,113) 4,130 (207) 3,805 Charged-off — — — — — — — 2,199 — 2,199 Totals — — — — — 14,231 (14,113) 6,329 (207) 6,004 Note 10 - Loans and Accounts Receivable from Customers, continued d.2) CAE portfolio sale For the year ended on December 31, 2020, gains recognized from sales of the portfolio amount to MCh$6,476 (MCh$8,584 for the year ended December 31, 2019). These amounts are presented in the Consolidated Statement of Income (Loss) under the line item “Net income from financial operations”. The portion to be deferred amounts to MCh$6,717 as of December 31, 2020 (MCh$9,079 as of December 31, 2019) and is recognized as interest income throughout the term of each loan by applying the effective interest rate method, according to IFRS 9. For the year ended December 31, 2020 For the year ended December 31, 2019 Adjustment Net effect on Adjustment Net effect on Portfolio Loan Value Allowances Sale price to EIR income Loan Value Allowances Sale price to EIR income MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ CAE 81,697 2,123 92,767 6,717 6,476 103,201 (849) 120,015 9,079 8,584 |
Schedule of Cash Flows to be Received from Finance Lease Contracts | As of December 31, 2020 and 2019, the Bank’s scheduled cash flows to be received from finance lease contracts have the following maturities: Total receivable Unearned income Net lease receivable As of December 31, As of December 31, As of December 31, 2020 2019 2020 2019 2020 2019 MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Up to one month 30,141 13,793 144 7 29,997 13,786 More than 1 month to 3 months 3,400 4,033 86 54 3,314 3,979 More than 3 months up to 1 year 38,446 39,184 1,525 1,839 36,921 37,345 More than 1 year up to 3 years 189,921 263,280 11,253 23,286 178,668 239,994 More than 3 years up to 6 years 338,156 413,066 42,164 71,543 295,992 341,523 More than 6 years 1,121,390 1,172,198 416,252 463,916 705,138 708,282 Totals 1,721,454 1,905,554 471,424 560,645 1,250,030 1,344,909 As of December 31, Leasing transactions 2020 2019 MCh$ MCh$ Commercial 940,989 1,005,209 Mortgage 307,574 336,587 Consumer 1,467 3,113 Totals 1,250,030 1,344,909 |
Commercial loans [member] | |
Disclosure of financial assets [line items] | |
Schedule of movements of disaggregation of the loan portfolio | Individually assessed Group assessed Stage 1 Stage 2 Stage 3 Stage 1 Stage 2 Stage 3 12-Month Lifetime Lifetime 12-Month Lifetime Lifetime ECL ECL ECL Subtotals ECL ECL ECL Subtotals Totals Loan portfolio Opening balances as of January 1, 2019 — 367,611 140,943 508,554 17,697,774 2,532,128 744,034 20,973,936 21,482,490 Changes in the allowances — — - Transfer to stage 1 — — — — 392,454 (371,983) (20,471) — — - Transfer to stage 2 — — — — (749,463) 816,577 (67,114) — — - Transfer to stage 3 — (116,202) 116,202 — (113,903) (192,565) 306,468 — — - Charge-offs — — (21,841) (21,841) (13,979) (22,862) (114,590) (151,431) (173,272) - Changes due to modifications that did not result in derecognition — — — — — — — — — New financial assets originated or purchased — 55,367 32,129 87,496 6,487,407 583,765 184,664 7,255,836 7,343,332 Financial assets that have been derecognized — (46,681) (11,754) (58,435) (5,024,522) (771,046) (201,451) (5,997,019) (6,055,454) Net transfer (from) group to individually assessed 20,807 25,659 — 46,466 (20,807) (25,659) — (46,466) — Foreign exchange and other movements — 35,734 12,532 48,266 36,154 315,844 137,454 489,452 537,718 Ending balances as of December 31, 2019 20,807 321,488 268,211 610,506 18,691,115 2,864,199 968,994 22,524,308 23,134,814 Note 10 - Loans and Accounts Receivable from Customers, continued The following table presents the movements for the Commercial loans portfolio disaggregated by individually and group assessed loans for the year ended December 31, 2020: Individually assessed Group assessed Stage 1 Stage 2 Stage 3 Stage 1 Stage 2 Stage 3 12-Month Lifetime Lifetime 12-Month Lifetime Lifetime ECL ECL ECL Subtotals ECL ECL ECL Subtotals Totals Opening balances as of January 1, 2020 20,807 321,488 268,211 610,506 12,445,411 1,725,817 678,810 14,850,038 15,460,544 Changes in the allowances - Transfer to stage 1 — — — — 196,395 (188,266) (8,129) — — - Transfer to stage 2 (7,573) 7,573 — — (829,499) 848,497 (18,998) — — - Transfer to stage 3 (5,410) (84,512) 89,922 — (37,142) (95,739) 132,881 — — - Charge-offs — — (198) (198) (443) (2,370) (165,651) (168,464) (168,662) - Changes due to modifications that did not result in derecognition — (1,810) (1,279) (3,089) (156,731) (11,529) (2,906) (171,166) (174,255) New financial assets originated or purchased 32,170 80,355 122,624 235,149 5,000,040 1,070,353 357,615 6,428,008 6,663,157 Financial assets that have been derecognized (13,399) (73,546) (104,964) (191,909) (5,865,418) (508,072) (143,255) (6,516,745) (6,708,654) Net transfer (from) group to individually assessed 49,231 170,722 152,019 371,972 (49,231) (170,722) (152,019) (371,972) — Foreign exchange and other movements 25,096 79,267 (37,840) 66,523 (275,404) (103,453) 49,003 (329,854) (263,331) Ending balances as of December 31, 2020 100,922 499,537 488,495 1,088,954 10,427,978 2,564,516 727,351 13,719,845 14,808,799 The following table presents the movements for the Commercial loans portfolio disaggregated by individually and group assessed loans for the year ended December 31, 2019: Individually assessed Group assessed Stage 1 Stage 2 Stage 3 Stage 1 Stage 2 Stage 3 12-Month Lifetime Lifetime 12-Month Lifetime Lifetime ECL ECL ECL Subtotals ECL ECL ECL Subtotals Totals Opening balances as of January 1, 2019 — 367,611 140,943 508,554 11,935,270 1,428,951 494,125 13,858,346 14,366,900 Changes in the allowances - Transfer to stage 1 — — — — 158,836 (145,228) (13,608) — — - Transfer to stage 2 — — — — (430,358) 454,203 (23,845) — — - Transfer to stage 3 — (116,202) 116,202 — (85,689) (113,481) 199,170 — — - Charge-offs — — (21,841) (21,841) (654) (1,314) (74,877) (76,845) (98,686) - Changes due to modifications that did not result in derecognition — — — — — — — — — New financial assets originated or purchased — 55,367 32,129 87,496 4,901,848 341,720 115,347 5,358,915 5,446,411 Financial assets that have been derecognized — (46,681) (11,754) (58,435) (4,049,247) (506,777) (149,445) (4,705,469) (4,763,904) Net transfer (from) group to individually assessed 20,807 25,659 — 46,466 (20,807) (25,659) — (46,466) — Foreign exchange and other movements — 35,734 12,532 48,266 36,212 293,402 131,943 461,557 509,823 Ending balances as of December 31, 2019 20,807 321,488 268,211 610,506 12,445,411 1,725,817 678,810 14,850,038 15,460,544 |
Mortgages loans [member] | |
Disclosure of financial assets [line items] | |
Schedule of movements of disaggregation of the loan portfolio | The following table presents the movements of the Mortgage loans portfolio for the year ended December 31, 2020: Group assessed Stage 1 Stage 2 Stage 3 12-Month Lifetime Lifetime ECL ECL ECL Totals Opening balances as of January 1, 2020 4,043,765 656,010 176,266 4,876,041 Changes in the allowances - Transfer to stage 1 265,412 (259,632) (5,780) — - Transfer to stage 2 (613,181) 669,912 (56,731) — - Transfer to stage 3 (7,706) (36,114) 43,820 — - Charge-offs — (63) (12,428) (12,491) - Changes due to modifications that did not result in derecognition (27,511) (6,693) 612 (33,592) New financial assets originated or purchased 971,616 76,558 2,117 1,050,291 Financial assets that have been derecognized (411,059) (71,328) (22,524) (504,911) Foreign exchange and other movements (54,821) (2,729) (1,035) (58,585) Ending balances as of December 31, 2020 4,166,515 1,025,921 124,317 5,316,753 The following table presents the movements of the Mortgage loans portfolio for the year ended December 31, 2019: Group assessed Stage 1 Stage 2 Stage 3 12-Month Lifetime Lifetime ECL ECL ECL Totals Opening balances as of January 1, 2019 3,626,811 659,119 159,897 4,445,827 Changes in the allowances - Transfer to stage 1 112,611 (112,195) (416) — - Transfer to stage 2 (174,723) 210,287 (35,564) — - Transfer to stage 3 (12,815) (64,770) 77,585 — - Charge-offs (36) (115) (12,230) (12,381) - Changes due to modifications that did not result in derecognition — — — — New financial assets originated or purchased 763,342 17,230 2,298 782,870 Financial assets that have been derecognized (330,014) (62,240) (20,063) (412,317) Foreign exchange and other movements 58,589 8,694 4,759 72,042 Ending balances as of December 31, 2019 4,043,765 656,010 176,266 4,876,041 |
Consumer loans [member] | |
Disclosure of financial assets [line items] | |
Schedule of movements of disaggregation of the loan portfolio | The following table presents the movements of the Consumer loans portfolio for the year ended December 31, 2020: Group assessed Stage 1 Stage 2 Stage 3 12-Month Lifetime Lifetime ECL ECL ECL Totals Opening balances as of January 1, 2020 2,201,939 482,372 113,918 2,798,229 Changes in the allowances - Transfer to stage 1 165,739 (154,065) (11,674) — - Transfer to stage 2 (349,120) 358,123 (9,003) — - Transfer to stage 3 (25,131) (21,321) 46,452 — - Charge-offs (15,262) (35,795) (83,555) (134,612) - Changes due to modifications that did not result in derecognition (51,408) (7,108) 386 (58,130) New financial assets originated or purchased 826,956 327,383 48,844 1,203,183 Financial assets that have been derecognized (948,463) (258,436) (30,123) (1,237,022) Foreign exchange and other movements (72,725) (4,454) (2,040) (79,219) Ending balances as of December 31, 2020 1,732,525 686,699 73,205 2,492,429 The following table presents the movements of the Consumer loans portfolio for the year ended December 31, 2019: Group assessed Stage 1 Stage 2 Stage 3 12-Month Lifetime Lifetime ECL ECL ECL Totals Opening balances as of January 1, 2019 2,135,693 444,058 90,012 2,669,763 Changes in the allowances - Transfer to stage 1 121,007 (114,560) (6,447) — - Transfer to stage 2 (144,382) 152,087 (7,705) — - Transfer to stage 3 (15,399) (14,314) 29,713 — - Charge-offs (13,289) (21,433) (27,483) (62,205) - Changes due to modifications that did not result in derecognition — — — — New financial assets originated or purchased 822,217 224,815 67,019 1,114,051 Financial assets that have been derecognized (645,261) (202,029) (31,943) (879,233) Foreign exchange and other movements (58,647) 13,748 752 (44,147) Ending balances as of December 31, 2019 2,201,939 482,372 113,918 2,798,229 |
Investment instruments (Tables)
Investment instruments (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [Abstract] | |
Detail of Investment Instruments Measured at FVOCI | As of December 31, 2020 and 2019, the detail of financial instruments measured at FVOCI and at amortized cost is as follows: As of December 31, 2020 As of December 31, 2019 At FVOCI At amortized cost Totals At FVOCI At amortized cost Totals MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Debt instruments 3,960,104 111,542 4,071,646 3,588,214 115,658 3,703,872 Equity instruments 10,795 — 10,795 10,676 — 10,676 Totals 3,970,899 111,542 4,082,441 3,598,890 115,658 3,714,548 |
Detail of Financial Instruments Measured at FVOCI | As of December 31, 2020 and 2019, the detail of financial instruments measured at FVOCI and at amortized cost is as follows: As of December 31, 2020 As of December 31, 2019 At FVOCI At amortized cost Totals At FVOCI At amortized cost Totals MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Securities quoted in active markets Chilean Central Bank and Government securities Chilean Central Bank instruments 1,170,841 — 1,170,841 477,900 — 477,900 Chilean Treasury bonds 1,783,765 — 1,783,765 1,609,397 — 1,609,397 Other goverment securities 101,573 — 101,573 86,981 — 86,981 Other local institutions financial instruments Time deposits in local banks 14,856 — 14,856 412,962 — 412,962 Mortgage finance bonds 30 — 30 41 — 41 Chilean financial institutions bonds 277,163 — 277,163 118,583 — 118,583 Other local financial investments — — — — — — Foreign institutions financial instruments Foreign Governments and Central Banks financial instruments 217,185 — 217,185 165,927 — 165,927 Other foreign financial instruments 394,691 111,542 506,233 716,423 115,658 832,081 Investments not quoted in active markets — — Corporate bonds — — — — — — Totals 3,960,104 111,542 4,071,646 3,588,214 115,658 3,703,872 |
Summary of Portfolio of Debt Securities Classified as Investment Instruments at Fair Value through Other Comprehensive Income Includes Impairment | As of December 31, 2020 and 2019 the portfolios of debt securities classified as investment instruments at fair value through other comprehensive income includes impairment movements as summarized below: Financial instruments at FVOCI Stage 1 Stage 2 Stage 3 12-Month ECL Lifetime ECL Lifetime ECL Totals Opening balances as of January 1, 2020 (2,310) — — (2,310) Changes in the allowances - Transfer to stage 1 — — — — - Transfer to stage 2 — — — — - Transfer to stage 3 — — — — - Increases due to change in credit risk (210) — — (210) - Decreases due to change in credit risk 1,127 — — 1,127 - Charge-Offs — — — — - Changes due to modifications that did not result in derecognition — — — — New financial assets originated or purchased (40) — — (40) Financial assets that have been derecognized 522 — — 522 Changes in models/risk parameters — — — — Foreign exchange and other movements — — — — Ending balances as of December 31, 2020 (911) — — (911) Financial instruments at FVOCI Stage 1 Stage 2 Stage 3 12-Month ECL Lifetime ECL Lifetime ECL Totals Opening balances as of January 1, 2019 (134) — — (134) Changes in the allowances - Transfer to stage 1 — — — — - Transfer to stage 2 — — — — - Transfer to stage 3 — — — — - Increases due to change in credit risk — — — — - Decreases due to change in credit risk — — — — - Charge-Offs — — — — - Changes due to modifications that did not result in derecognition — — — — New financial assets originated or purchased (2,195) — — (2,195) Financial assets that have been derecognized 19 — — 19 Changes in models/risk parameters — — — — Foreign exchange and other movements — — — — Ending balances as of December 31, 2019 (2,310) — — (2,310) |
Summary of Portfolio of Investment Instruments at Amortized Cost Includes Impairment | As of December 31, 2020 and 2019 the portfolios of investment instruments at amortized cost includes impairment movements as summarized below: Financial instruments at Amortized cost Stage 1 Stage 2 Stage 3 12-Month ECL Lifetime ECL Lifetime ECL Totals Opening balances as of January 1, 2020 (24) — — (24) Changes in the allowances - Transfer to stage 1 — — — — - Transfer to stage 2 — — — — - Transfer to stage 3 — — — — - Increases due to change in credit risk — — — — - Decreases due to change in credit risk — — — — - Charge-offs — — — — - Changes due to modifications that did not result in derecognition — — — — New financial assets originated or purchased (86) — — (86) Financial assets that have been derecognized 9 — — 9 Changes in models/risk parameters — — — — Foreign exchange and other movements — — — — Ending balances as of December 31, 2020 (101) — — (101) Financial instruments at Amortized cost Stage 1 Stage 2 Stage 3 12-Month ECL Lifetime ECL Lifetime ECL Totals Opening balances as of January 1, 2019 (13) — — (13) Changes in the allowances - Transfer to stage 1 — — — — - Transfer to stage 2 — — — — - Transfer to stage 3 — — — — - Increases due to change in credit risk — — — — - Decreases due to change in credit risk — — — — - Charge-offs — — — — - Changes due to modifications that did not result in derecognition — — — — New financial assets originated or purchased (24) — — (24) Financial assets that have been derecognized 13 — — 13 Changes in models/risk parameters — — — — Foreign exchange and other movements — — — — Ending balances as of December 31, 2019 (24) — — (24) |
Schedule of Unrealized Gains and Losses on the FVTOCI Portfolio | Unrealized gains and losses of the FVTOCI portfolio as of December 31, 2020 and 2019 are detailed as follows: As of December 31, 2020 As of December 31, 2019 Acquisition Unrealized Fair Acquisition Unrealized Fair cost Gain Losses value cost Gain Losses value Securities quoted in active markets Chilean Central Bank and Government securities Chilean Central Bank instruments 1,171,350 29 (538) 1,170,841 477,127 2,023 (1,250) 477,900 Chilean Treasury bonds 1,781,626 8,989 (6,850) 1,783,765 1,593,550 19,865 (4,018) 1,609,397 Other government securities 96,924 4,409 240 101,573 86,454 626 (99) 86,981 Other local institutions financial instruments Time deposits in local banks 14,622 252 (18) 14,856 412,936 85 (59) 412,962 Mortgage finance bonds 29 1 — 30 40 1 — 41 Chilean financial institutions bonds 273,028 4,135 — 277,163 117,641 1,008 (66) 118,583 Foreign institutions financial instruments Foreign Governments and Central Banks financial instruments 193,389 23,848 (52) 217,185 160,481 5,520 (74) 165,927 Other foreign financial instruments 391,058 3,724 (91) 394,691 697,663 18,965 (205) 716,423 Investments not quoted in active markets Corporate bonds — — — — — — — — Equity instruments Unlisted securities 6,466 4,329 — 10,795 6,965 3,711 — 10,676 Totals 3,928,492 49,716 (7,309) 3,970,899 3,552,857 51,804 (5,771) 3,598,890 |
Schedule of Portfolio of Equity Instruments at Fair Value through Comprehensive Income | As of December 31, 2020 and 2019 the portfolio of equity investment instruments at fair value through comprehensive income are detail as follows: 2020 2019 Unlisted securities MCh$ MCh$ Domestic entities Stock Exchanges 4,616 4,990 Foreign entities A.C.H Colombia 1,173 989 Redeban Multicolor S.A. 717 634 Cámara de Compensación Divisas de Colombia S.A. 309 270 Cámara de Riesgo Central de Contraparte S.A. (*) — 160 Bolsa de Valores de Colombia 969 781 Credibanco 2,990 2,831 Others 21 21 Totals 10,795 10,676 (*) In August 2020, the Cámara de Riesgo Central de Contraparte S.A. participation was sold, corresponding to 2.43% of the total equity, generating a profit of Ch$449 million recorded in income from investments in companies. |
Schedule of Amount Recognized in Profit and Loss and Other Comprehensive Income | For the years ended December 31, 2020 and 2019, the following gains and losses were recognized in profit or loss and other comprehensive income: 2020 2019 MCh$ MCh$ Dividends from equity investments held at FVOCI recognized in profit or loss 979 904 Related to investments derecognized during the period 56,838 35,489 Related to investments held at the end of the reporting period — — Totals 57,817 36,393 |
Investment in Associates (Table
Investment in Associates (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Investments in Associates. | |
Summary of investments in associates | a) As of December 31, 2020 and 2019, investments in associates are as follows: Investment Investment Entity's share Investment amount Income Entity's share Investment amount Income as of December 31, as of December 31, as of December 31, as of December 31, as of December 31, as of December 31, Entity 2020 2020 2020 2019 2019 2019 % MM$ MM$ % MM$ MM$ Nexus S.A (**) 14.8148 % 1,278 (1,341) 12.9000 % 2,281 (133) Transbank S.A (*) 8.7188 % 5,871 (1,453) 8.7188 % 7,324 665 Totals 23.63 7,149 (2,794) 9,605 532 (*) In 2019, these investments were previously classified as “Financial instruments at fair value through profit or loss” and classified as associates since significant influence was gained. Acquisition cost is deemed to be equivalent to the fair value of each investment as of the date in which it became an associate. (**) On January 22, 2020, Itaú Corpbanca acquired 79,577 shares of Nexus S.A., corresponding to a 1.9148% participation over the total equity. With this transaction, the Bank's total participation increased to 14.8148%. |
Summarized financial information of associates | As of December 31, As of December 31, 2020 2019 Assets Liabilities Equity Loss Assets Liabilities Equity Income MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Nexus S.A 19,210 10,585 17,676 (9,051) 31,147 13,472 4,097 13,578 Transbank S.A 1,006,137 938,800 84,007 (16,670) 1,217,448 1,134,781 69,265 13,402 Totals 1,025,347 949,385 101,683 (25,721) 1,248,595 1,148,253 73,362 26,980 |
Schedule of dividends received from associates | 2020 2019 MCh$ MCh$ Dividends received (*) — 268 Totals — 268 (*) Dividends for the year ended December 31, 2019 are considered as received before significant influence was obtained, thus are presented under “Net income from financial operations” in the Consolidated Statement of Income (Loss) in accordance with the previous classification and measurement as financial instruments at fair value through profit and loss according with IFRS 9. |
Schedule of movements in investments in associates | 2020 2019 MCh$ MCh$ Balances as of January 1, 9,605 — Investment acquisition 338 — Sale of investments — — Initial application of the equity method (*) — 9,073 Participation in income (2,794) 532 Totals 7,149 9,605 (*) As indicated in a) above “significant influence” was gained in 2019, thus the equity method was initially applied that year. |
Intangible assets (Tables)
Intangible assets (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [Abstract] | |
Schedule of Intangibles Assets | a) Composition of intangibles assets as of December 31, 2020 and 2019 is as follows: Remaining Net assets as Net assets as Useful amortization of January 1, Gross Accumulated of December Concept life years years 2020 balance amortization 31, 2020 MCh$ MCh$ MCh$ MCh$ Computer equipment system or software 5 4 179,743 221,070 (94,407) 126,663 IT projects and licenses 2 2 5,192 13,484 (654) 12,830 Assets generated in business combination 1,388,302 681,556 (103,053) 578,503 Goodwill — — 1,151,019 492,512 — 492,512 Trademarks 10 5 31,898 51,037 (24,243) 26,794 Customer relationship 10 5 63,317 26,371 (12,526) 13,845 Core deposits 8 3 142,068 111,636 (66,284) 45,352 Other projects 10 4 1,196 4,055 (3,368) 687 Totals 1,574,433 920,165 (201,482) 718,683 Remaining Net assets as Net assets as Useful amortization of January 1, Gross Accumulated of December Concept life years years 2019 balance amortization 31, 2019 MCh$ MCh$ MCh$ MCh$ Computer equipment system or software 6 3 151,840 314,200 (134,457) 179,743 IT projects and licenses 6 2 12,614 33,352 (28,160) 5,192 Assets generated in business combination 1,406,016 1,544,767 (156,465) 1,388,302 Goodwill — — 1,135,392 1,151,019 — 1,151,019 Trademarks 10 8 37,002 51,459 (19,561) 31,898 Customer relationship 12 10 69,259 98,268 (34,951) 63,317 Core deposits 9 7 164,363 244,021 (101,953) 142,068 Other projects 10 1 494 4,055 (2,859) 1,196 Totals 1,570,964 1,896,374 (321,941) 1,574,433 |
Schedule of Movement of Intangible Assets | a) Movements on gross balances of intangible assets as of December 31, 2020 and 2019 are as follows: Computer Assets equipment generated in system or IT projects business software and licenses combination Goodwill Other projects Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Opening balances as of January 1, 2020 314,200 33,352 393,748 1,151,019 4,055 1,896,374 Additions 43,747 12,002 — — — 55,749 Disposals (47,746) (8,388) — — — (56,134) Impairment (1) (2) (3) (67,363) (32,334) (195,596) (651,825) — (947,118) Reclassifications (9,752) 9,752 — — — — Exchange differences (12,016) (900) (9,108) (6,682) — (28,706) Ending balances as of December 31, 2020 221,070 13,484 189,044 492,512 4,055 920,165 (1) Impairment loss on "Computer equipment software or system" and "IT projects and licenses" was recorded due to the systems integration; mainly due to the derecognition of the systems from Corpbanca. Impairment on Computer equipment system or software recorded in the Chile CGU had a net effect of Ch$31,426 million (Ch$59,525 million on the gross value of the asset and Ch$28,099 million on accumulated amortization). Impairment on System and software recorded in the Colombia CGU had a net effect of Ch$4,325 million (Ch$7,838 million on the gross value of the asset and Ch$3,513 million). Finally, impairment on IT projects and licenses recorded in the Chile CGU had a net effect of Ch$3,098 million (Ch$32,334 million gross value of the asset and Ch$29,236 million in accumulated amortization). (2) Impairment loss on intangible assets generated in business combinations recorded in the Colombia CGU had a net effect of Ch$113,911 million (Ch$195,596 million on the gross value of the asset and Ch$81,685 million on accumulated amortization). (, which is broken down between an effect on the gross balance of and an effect on the accumulated amortization of. Itaú Corpbanca Colombia recognized an impairment for the gross value of the asset of Ch$193,761 million and Ch$80,623 million in accumulated amortization, generating a loss effect of Ch$113,138 million, as a result. Itaú Corredor de Seguro Colombia recognized an impairment for the gross asset value of Ch$1,835 million and Ch$1,062 million in accumulated amortization, generating a loss effect of Ch$773 million. (3) Goodwill impairment was allocated between the Chile CGU in Ch$412,356 million and the Colombia CGU in Ch$239,469 million.See additional disclosures in Note 32. Computer Assets equipment generated in system or IT projects business software and licenses combination Goodwill Other projects Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Opening balances as of January 1, 2019 263,179 42,601 383,207 1,135,392 3,645 1,828,024 Additions 53,140 80 — — — 53,220 Exchange differences 5,308 20 12,876 15,627 — 33,831 Others (7,427) (9,349) (2,335) — 410 (18,701) Ending balances as of December 31, 2019 314,200 33,352 393,748 1,151,019 4,055 1,896,374 |
Schedule of Movements of Accumulated Amortization of Intangible Assets | a) Movements on accumulated amortization of intangible assets for the years ended December 31, 2020 and 2019 are as follows: Computer Assets equipment generated in system or IT projects business software and licenses combination Other projects Totals MCh$ MCh$ MCh$ MCh$ MCh$ Opening balances as of January 1, 2020 (134,457) (28,160) (156,465) (2,859) (321,941) Amortization for the year (40,632) (1,748) (31,736) (509) (74,625) Disposals 44,490 — — — 44,490 Impairment (1) (2) 31,612 29,236 81,685 — 142,533 Exchange differences 4,580 18 3,463 — 8,061 Ending balances as of December 31, 2020 (94,407) (654) (103,053) (3,368) (201,482) (1) Impairment loss on "Computer equipment software or system" and "IT projects and licenses" was recorded due to the systems integration; caused by the usage discontinuation of the Corpbanca systems. Impairment on Computer equipment system or software recorded in the Chile CGU had a net effect of loss Ch$31,426 million (Ch$59,525 million on the gross value of the asset and Ch$28,099 million on accumulated amortization). Impairment on System and software recorded in the Colombia CGU had a net effect of Ch$4,325 million (Ch$7,838 million on the gross value of the asset and Ch$3,513 in accumulated amortization). Finally, impairment on IT projects and licenses recorded in the Chile CGU had a net effect of Ch$3,098 million ( Ch$32,334 million on the gross asset value of and Ch$29,236 million in accumulated amortization). (2) Impairment loss on intangible assets generated in business combinations recorded in the Colombia CGU had a net effect of Ch$113,911 million ( Ch$195,596 million on the gross value of the asset and Ch$81,685 million on the accumulated amortization). Computer Assets equipment generated in system or IT projects business software and licenses combination Other projects Totals MCh$ MCh$ MCh$ MCh$ MCh$ Opening balances as of January 1, 2019 (111,339) (29,987) (112,583) (3,151) (257,060) Amortization for the year (30,363) (2,809) (40,816) (152) (74,140) Disposals 3 — — — 3 Exchange differences (2,995) (14) (4,648) — (7,657) Others 10,237 4,650 1,582 444 16,913 Ending balances as of December 31, 2019 (134,457) (28,160) (156,465) (2,859) (321,941) |
Property, plant and equipment (
Property, plant and equipment (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [Abstract] | |
Schedule of Property, Plant and Equipment | a) Property, plant and equipment as of December 31, 2020 and 2019 are broken down as follows. Remaining Net assets as Net assets Useful life depreciation of January Gross Accumulated as of December years years 1, 2020 Balance depreciation 31, 2020 MCh$ MCh$ MCh$ MCh$ Land and buildings 19 14 50,222 76,818 (36,658) 40,160 Equipment 3 1 27,551 85,404 (57,754) 27,650 Others 3 2 17,307 35,664 (22,859) 12,805 Furniture 8,879 21,203 (14,217) 6,986 Others 8,428 14,461 (8,642) 5,819 Totals 95,080 197,886 (117,271) 80,615 Remaining Net assets as Net assets Useful life depreciation of January Gross Accumulated as of December years years 1, 2019 Balance depreciation 31, 2019 MCh$ MCh$ MCh$ MCh$ Land and buildings 19 14 43,065 89,290 (39,068) 50,222 Equipment 3 1 32,607 81,423 (53,872) 27,551 Others 3 2 19,892 47,748 (30,441) 17,307 Furniture 9,373 27,088 (18,209) 8,879 Others 10,519 20,660 (12,232) 8,428 Totals 95,564 218,461 (123,381) 95,080 |
Schedule of Movement of Property, Plant and Equipment | a) Movements on gross balances as of December 31, 2020 and 2019, are as follows: Land and buildings Equipment Other Totals MCh$ MCh$ MCh$ MCh$ Opening balances as of January 1, 2020 89,290 81,423 47,748 218,461 Additions 5,203 9,964 1,803 16,970 Sales and/or disposals for the year (381) (1,855) (1,974) (4,210) Impairment (1)(2) (20,981) (578) (9,862) (31,421) Reclassification from assets held for sale (3) 5,622 — — 5,622 Exchange differences (1,935) (3,550) (1,173) (6,658) Others — — (878) (878) Ending balances as of December 31, 2020 76,818 85,404 35,664 197,886 (1) Corresponds to ATM equipment impairment loss of Ch$24 million(Ch$53 million million on the gross value of the asset and Ch$29 million on accumulated depreciation) (2) Impairment on property, plant and equipment was recorded as a result of the restructuring plan implemented and controlled by Management in Chile. This plan aims to capture efficiencies from the closure of branches and by the offering our clients digital solutions for their financial needs. As a result, impairment losses for an amount of Ch$867 million have been recorded on land and buildings, equipment and other assets ( Ch$11,005 million on the gross value of the asset and Ch$10,138 million on accumulated depreciation). Also includes impairment recorded on improvements in leased properties for an amount of Ch$9,403million (Ch$20,363 million on the gross value of the asset of and Ch$10,960 million in accumulated depreciation) (3) Assets classified as available for sale that came out of the sales plan in Colombia and are reclassified back to fixed assets. See note 17 . (4) Note 14 - Property, plant and equipment, continued Land and buildings Equipment Other Totals MCh$ MCh$ MCh$ MCh$ Opening balances as of January 1, 2019 65,843 80,383 50,248 196,474 Additions 9,449 8,503 2,488 20,440 Sales and/or disposals for the year (3,592) (4,493) (4,014) (12,099) Reclassification from assets held for sale (*) 9,863 — — 9,863 Exchange differences 507 2,514 969 3,990 Others 7,220 (5,484) (1,943) (207) Ending balances as of December 31, 2019 89,290 81,423 47,748 218,461 (1) Corresponds to buildings owned by Itaú Corpbanca Colombia S.A. held for sale, as approved by the Board of Directors of said company. See detail in Note 17 - Other assets and non-current assets held for sale. |
Schedule of Movements of Accumulated Depreciation of Property, Plant and Equipment | (1) a) Movements of accumulated depreciation of property, plant and equipment for years ended December 31, 2020 and 2019, are as follows: Land and buildings Equipment Other Total MCh$ MCh$ MCh$ MCh$ Opening balances as of January 1, 2020 (39,068) (53,872) (30,441) (123,381) Depreciation for the year (8,279) (8,967) (4,580) (21,826) Sales and/or disposals for the year 287 1,855 1,893 4,035 Reclasification from asset held for sale (1) (1,634) — — (1,634) Impairment (2)(3) 11,211 526 9,390 21,127 Exchange differences 825 2,704 879 4,408 Ending balances as of December 31, 2020 (36,658) (57,754) (22,859) (117,271) (1) Corresponds to properties reincorporated to land and buildings that were previously classified as held for the sale of Itaú Corpbanca Colombia S.A. See Note 17 - Other assets and non-current assets held for sale. (2) Corresponds to Impaired ATM equipment with a gross value of MCh$53 and MCh$29 on accumulated depreciation, generating a net loss of MCh$24. (3) Impairment on fixed assets due to the restructuring plan in Chile had an effect on the gross value of the asset of MCh$11,005 and MCh$10,138 on accumulated depreciation, generating a loss of MCh$867. Also includes impairment recognized on improvements in leased properties due to the restructuring plan, with an effect on the gross value of the asset of MCh$20,363 and MCh$10,960 in accumulated depreciation, generating a loss of MCh$9,403. Land and buildings Equipment Other Total MCh$ MCh$ MCh$ MCh$ Opening balances as of January 1, 2019 (22,778) (47,776) (30,356) (100,910) Depreciation for the year (7,814) (9,026) (4,329) (21,169) Sales and/or disposals for the year 2,884 3,622 2,079 8,585 Reclasification from asset held for sale (1) (6,829) — — (6,829) Impairment (241) (11) (476) (728) Exchange differences (79) (2,110) (705) (2,894) Others (4,211) 1,429 3,346 564 Ending balances as of December 31, 2019 (39,068) (53,872) (30,441) (123,381) (1) Corresponds to properties reincorporated to land and buildings that were previously classified as held for the sale of Itaú Corpbanca Colombia S.A. See Note 17 - Other assets and non-current assets held for sale. |
Assets for Rights-of-Use and _2
Assets for Rights-of-Use and Obligations for Lease Contracts (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Assets for Rights-of-Use and Obligations for Lease Contracts | |
Schedule of asset for right-to-use property under lease | (i) The Bank has mainly lease agreements for its branches and corporate building. The composition of this item as of December 31, 2020 and 2019, is as follows: Years Years of of average useful remaining Net Assets as of Accumulated Net Assets as of life useful life January 1, 2020 Gross Balances Depreciation December 31, 2020 N° N° MCh$ MCh$ MCh$ MCh$ Land and buildings 7 6 167,265 195,992 (50,086) 145,906 Others leased assets 3 3 176 173 (71) 102 Totals 167,441 196,165 (50,157) 146,008 Years Years of of average useful remaining Net Assets as of Accumulated Net Assets as of life useful life January 1, 2019 Gross Balances Depreciation December 31, 2019 N° N° MCh$ MCh$ MCh$ MCh$ Land and buildings 5 5 176,795 197,065 (29,800) 167,265 Others leased assets 3 3 — 190 (14) 176 Totals 176,795 197,255 (29,814) 167,441 (ii) Movement in the gross balance of assets for the right to use assets under lease at 31 December 2020 and 2019, is as follows Land and buildings Others leased assets Totals MCh$ MCh$ MCh$ Opening balance as of January 1, 2020 197,065 190 197,255 Additions 9,250 — 9,250 Disposals due to early termination (9,707) — (9,707) Remeasurements of the liability due to modifications (1) 747 — 747 Inflation indexation adjustments (2) 2,701 — 2,701 Exchange differences (4,064) (17) (4,081) Ending balances as of December 31, 2020 195,992 173 196,165 (1) Corresponds to remeasurements of the recognized liability due to contracts modifications. (2) Corresponds to subsequent adjustments due to liabilities remeasurements due to index changes, according to each lease agreement. Note 15 - Assets for Rights-of-Use and Obligations for Lease Contracts, continued Land and buildings Others leased assets Totals MCh$ MCh$ MCh$ Opening balance as of January 1, 2019 176,795 — 176,795 Additions 25,624 190 25,814 Disposals due to early termination (16,953) — (16,953) Inflation indexation adjustments (1) 9,488 — 9,488 Exchange differences 2,111 — 2,111 Ending balances as of December 31, 2019 197,065 190 197,255 (1) Corresponds to subsequent adjustments due to liabilities remeasurements due to index changes, according to each lease agreement. (iii) Land and buildings Other leased assets Totals MCh$ MCh$ MCh$ Opening balance as of January 1, 2020 (29,800) (14) (29,814) Depreciation (1) (29,936) (57) (29,993) Disposals due to early termination 8,738 — 8,738 Exchange differences 912 — 912 Reclassifications — — — Remeasurements of the liability due to modifications (1) — — Ending balances as of December 31, 2020 (50,086) (71) (50,157) (1) See Note 32, Depreciation, amortization and impairment. Land and buildings Other leased assets Totals MCh$ MCh$ MCh$ Opening balance as of January 1, 2019 — — — Depreciation (1) (31,843) (14) (31,857) Disposals due to early termination 2,590 — 2,590 Exchange differences (547) — (547) Reclassifications — — — Impairment — — — Ending balances as of December 31, 2019 (29,800) (14) (29,814) (1) See note 32 "Depreciation, amortization and impairment" |
Summary of obligations for lease contracts | i) As of December 31, 2020 As of December 31, 2019 MCh$ MCh$ Lease contract liabilities 151,885 172,924 Totals 151,885 172,924 |
Summary of movement in lease liabilities and cash flows | ii) 2020 2019 MCh$ MCh$ Opening balance as of January 1, 172,924 176,795 Additions due to new contracts 9,250 25,624 Disposals due to early termination (1,971) (10,808) Interest expenses 4,923 5,034 Remeasurements of the liability due to modifications (1) 1,399 — Inflation indexation adjustments 2,701 9,488 Exchange rate adjustments (4) — Exchange difference (3,650) 2,868 Capital and interest payments (33,687) (36,077) Ending balance as of December 31, 151,885 172,924 |
Schedule of future maturities of lease liabilities | iii) As of December 31, 2020 As of December 31, 2019 MCh$ MCh$ Within 1 year 30,829 32,628 After 1 year but within 2 years 27,779 28,462 After 2 years but within 3 years 24,083 25,084 After 3 years but within 4 years 20,991 22,098 After 4 years but within 5 years 16,627 19,042 After 5 years 31,576 45,610 Totals 151,885 172,924 |
Current Taxes and Deferred Ta_2
Current Taxes and Deferred Taxes (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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Schedule of Effect of Current Taxes Assets and Liabilities By Geographic Area | a.1) Current taxes assets and liabilities by geographical area: As of December 31, 2020 As of December 31, 2019 Chile USA (*) Colombia Totals Chile USA (*) Colombia Totals MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Current tax assets 43,533 1,443 19,723 64,699 30,773 — 54,743 85,516 Current tax liabilities (596) — (1,170) (1,766) (13) — — (13) Totals, net 42,937 1,443 18,553 62,933 30,760 — 54,743 85,503 |
Schedule of current tax by geographical area | a.2) Details of current tax items by geographical area: As of December 31, 2020 As of December 31, 2019 Chile USA (*) Colombia Total Chile USA (*) Colombia Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Income tax with effect in profit and loss 12,348 — (4,284) 8,064 (68,075) — (9,062) (77,137) Income tax effect on equity, net investments hedge (21,795) — — (21,795) 6,124 — — 6,124 Income tax effect on equity cash flows hedge (5) — — (5) 964 — — 964 Income tax, rate 27% (9,452) — (4,284) (13,736) (60,987) — (9,062) (70,049) Less: Monthly Provisional Payments 49,340 — 21,268 70,608 61,621 — 27,218 88,839 Tax credit for training costs 800 — — 800 850 — — 850 Tax credit donations 264 — — 264 802 — — 802 4% event capital credit 2,920 — — 2,920 — — — Other taxes to be recovered (paid) (**) (935) 1,443 1,569 2,077 28,474 — 36,587 65,061 Totals 42,937 1,443 18,553 62,933 30,760 — 54,743 85,503 (*) Corresponds to the branch located in New York. (**) The other taxes to be recovered correspond mainly to monthly provisional payments and credits for training expenses paid in previous years, provisional payments for absorbed utilities with right to return, among others. |
Schedule of Effect on Income | 2020 2019 2018 MCh$ MCh$ MCh$ Income tax expense Current tax expense 8,064 (77,137) (95,760) Deferred taxes Deferred tax expenses 109,848 33,727 28,110 Subtotals 117,912 (43,410) (67,650) Others (2,702) (4,443) 591 Net expense for income taxes 115,210 (47,853) (67,059) |
Schedule of Effective Tax Rate Reconciliation | The nominal tax rates of the countries where consolidated subsidiaries are located are: 2020 2019 2018 Tax rates Tax rates Tax rates Chile Colombia USA For the years ended December 31, 2020 2019 2018 Tax rate Amount Tax rate Amount Tax rate Amount % MCh$ % MCh$ % MCh$ Amount calculated by using the statutory rates 27.00 254,169 27.00 (46,541) 27.00 (63,157) Exchange differences due to investments in Colombia 1.94 18,285 9.51 (16,399) 13.47 (31,499) Equity price level restatement for tax purposes 2.53 23,814 (13.94) 24,037 (9.49) 22,188 Exchange differences due to investments in USA 0.18 1,665 1.76 (3,030) 0.02 (54) Effect of rate change Colombia (0.40) (3,804) (2.29) 3,954 (0.01) 20 Effect of rates New York branch (**) — 10 0.05 (81) (0.18) 433 Effect of rates Colombia subsidiary (**) 1.37 12,884 3.42 (5,896) 0.50 (1,173) Penalty fee SBIF (currently CMF) — — — — 0.69 (1,616) Goodwill impairment effect (19.93) (187,633) — — — — Tax effect due to intangible assets impairment (0.70) (6,561) — — — — Permanent and other differences (*) 0.25 2,381 2.26 (3,897) (3.33) 7,799 Totals 12.24 115,210 27.77 (47,853) 28.67 (67,059) |
Schedule of "OCI" that may be Reclassified Subsequent to Profit or Loss | The table below sets for a summary of the deferred tax effect on other comprehensive income for the years ended December 31, 2020, 2019 and 2018, which consists of the following items: d.1) Tax effect of “OCI” that may be reclassified subsequently to profit or loss: 2020 2019 2018 MCh$ MCh$ MCh$ Debt instruments at fair value through other comprehensive income 1,558 (5,926) (2,172) Hedge of a net investment in foreign operations (21,795) 14,373 10,565 Cash flows hedge (3,034) (162) (1,669) Total charge to other comprehensive income (23,271) 8,285 6,724 d.2) “OCI” that may not be reclassified subsequently to profit or loss: 2020 2019 2018 MCh$ MCh$ MCh$ Income tax relating to defined benefit obligation (19) 1,542 (44) Total charge to other comprehensive income (19) 1,542 (44) |
Summary of Effect for Deferred Taxes Presented Assets and Liabilities | Detail of effects for deferred taxes presented in assets and liabilities is as follows: As of December 31, 2020 As of December 31, 2019 Assets Liabilities Net Assets Liabilities Net MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Allowances for loan losses 242,422 — 242,422 162,874 — 162,874 Accrued interest on past due portfolio 6,031 — 6,031 8,214 — 8,214 Unearned price differences 183 — 183 324 — 324 Personnel provisions 10,183 17 10,200 20,618 — 20,618 Miscellaneous provisions 1,693 — 1,693 41,576 — 41,576 Tax losses 51,546 — 51,546 55,598 — 55,598 Net tax value of amortizable assets 2,231 — 2,231 16,051 — 16,051 Depreciation of property, plant and equipment (30,697) (274) (30,971) (47,423) — (47,423) Lease division and others 10,803 — 10,803 18,925 — 18,925 Mark to market of financial instruments 37,727 — 37,727 (15,846) — (15,846) Itaú-Corpbanca business combination (30,263) — (30,263) (57,996) — (57,996) IFRS 16 leases effect 1,643 — 1,643 1,403 — 1,403 Others 9,054 20 9,074 4,339 (263) 4,076 Totals assets (liabilities) for deferred taxes 312,556 (237) 312,319 208,657 (263) 208,394 |
Schedule of Deferred Taxes by Geographic Area | e.2) Deferred taxes by geographic area: As of December 31, 2020 As of December 31, 2019 Chile USA Colombia Total Chile USA Colombia Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Deferred tax assets 250,260 14,408 47,888 312,556 182,657 18,527 7,473 208,657 Deferred tax liabilities — — (237) (237) — — (263) (263) Net by geographic area 250,260 14,408 47,651 312,319 182,657 18,527 7,210 208,394 |
Schedule of Effects of Deferred Taxes on Assets and Liabilities | Effects of deferred taxes on assets and liabilities arising from temporary differences (by geographic area) are as follows: As of December 31, 2020 As of December 31, 2019 Chile USA Colombia Total Chile USA Colombia Total MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Allowances for loan losses 212,344 (91) 30,169 242,422 155,115 358 7,401 162,874 Accrued interest on past due portfolio 6,031 — — 6,031 8,214 — — 8,214 Unearned price differences 183 — — 183 324 — — 324 Personnel provisions 6,449 195 3,556 10,200 16,860 (91) 3,849 20,618 Miscellaneous provisions 25,532 (3,588) (20,251) 1,693 49,335 856 (8,615) 41,576 Tax losses 1,744 15,500 34,302 51,546 1,912 15,750 37,936 55,598 Net tax value of amortizable assets 2,231 — — 2,231 16,051 — — 16,051 Depreciation of property, plant and equipment (31,611) (68) 708 (30,971) (50,746) — 3,323 (47,423) Lease division and others 3,682 — 7,121 10,803 11,619 — 7,306 18,925 Mark to market of financial instruments 41,149 (448) (2,974) 37,727 (13,484) — (2,362) (15,846) Itaú-Corpbanca business combination (27,673) — (2,590) (30,263) (16,584) — (41,412) (57,996) IFRS 16 leases effect 1,080 48 515 1,643 905 — 498 1,403 Others 9,119 2,860 (2,905) 9,074 3,136 1,654 (714) 4,076 Totals assets (liabilities), net 250,260 14,408 47,651 312,319 182,657 18,527 7,210 208,394 |
Other Assets and Non-current _2
Other Assets and Non-current Assets Held for Sale (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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Schedule of Other Assets | a) The detail of other assets is as follows: As of December 31, 2020 2019 MCh$ MCh$ Assets for leasing (1) 10,807 18,724 Other assets 531,826 752,137 Deposits in guarantee 11,230 33,786 Accounts and notes receivable (2) 37,070 48,017 Rights on brokerage transactions 26,589 158,687 Repossessed assets from leasing transactions 3,809 1,787 Prepaid expenses (3) 26,629 21,179 Collateral for financial transactions (threshold) 413,439 407,529 Claims receivable from insurance companies 230 1,933 Asset management fees receivable 811 816 Insurance brokerage fees receivable 6,741 5,654 Other assets 5,278 72,749 Totals 542,633 770,861 (1) Property, plant and equipment acquired to be ceded under financial leases. (2) This includes rights and accounts receivable that fall outside the Bank’s line of business such as tax credits, cash guarantee deposits and other balances pending of collection . (3) Includes payments made in advance for different services that will be received (leases, insurance, and others). |
Schedule of Non-Currents Assets | As of December 31, 2020 2019 MCh$ MCh$ Assets received in lieu of payment 13,269 10,291 Property, plant and equipment held for sale (1) 1,809 6,911 Totals 15,078 17,202 (1) Corresponds to buildings owned by Itaú Corpbanca Colombia S.A. held for sale, as approved by the Board of Directors of the entity, during the meeting held on July 31, 2018. |
Deposits and Other Demand Lia_2
Deposits and Other Demand Liabilities and Time Deposits (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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Schedule of Deposits and Other Demand Liabilities | a) As of December 31, 2020 and 2019, deposits and other demand liabilities are as follow: As of December 31, 2020 2019 MCh$ MCh$ Checking accounts 4,038,467 2,882,535 Other deposits and demand accounts 1,852,355 1,698,439 Advance payments received from customers 40,032 45,902 Other demand liabilities 266,552 246,572 Totals 6,197,406 4,873,448 |
Schedule of Time Deposits and Other Time Liabilities | a) As of December 31, 2020 and 2019, time deposits and other time liabilities are as follows: As of December 31, 2020 2019 MCh$ MCh$ Time deposits 11,413,370 11,599,943 Time savings accounts 19,467 20,016 Other time liabilities 227 228 Totals 11,433,064 11,620,187 |
Interbank Borrowings (Tables)
Interbank Borrowings (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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Schedule of Interbank Borrowings | a) As of December 31, 2020 and 2019, interbank borrowings are as follows: As of December 31, 2020 2019 MCh$ MCh$ Loans obtained from local financial institutions Chilean Central Bank (*) 2,257,226 — Subtotals 2,257,226 — Loans obtained from foreign financial institutions Apple Bank for Saving — 34,195 Bancaribe Curacao Bank N.V. — 2,411 Banco Crédito del Perú — 104,831 Banco de Bogotá 4,156 8,250 Banco Latinoamericano de Exportación (BLADEX) 60,759 63,991 Banco República — 1,403 Bancoldex S.A. (Colombia) 11,123 46,390 Bank of America, N.A. 92,395 160,243 Bank of Montreal 113,404 104,331 Bank of New York 56,858 — Bank of Nova Scotia 82,324 101,989 Bayern Landesbank — 2,411 BBVA Asset Management Continental S.A. (Perú) 75,057 86,709 BNP Paribas 92,167 98,817 China Construction Bank — 5,556 Citibank N.A. 37,522 206,549 Cobank C.B. 16,258 30,882 Commerzbank A.G. 24,055 71,646 Corporación Andina de Fomento 71,073 75,149 Credicorp Capital SASAF 175,854 200,374 Deutsche Bank A.G. 74,220 — Export Development Canada — 12,078 Findeter S.A. Financiera del Desarrollo Territorial 44,100 44,552 HSBC USA — 74,877 IFC Corporación Financiera Internacional 82,561 118,065 Ing Bank NV — 14,870 Interfondos S.A. Sociedad Administradora de Fondos 20,105 55,596 KBC Bank NV — 21,896 La Caixa 25,690 13,961 Mizuho Corporate Bank — 2,411 Scotia Fondos Sociedad Administradora de Fondos S.A. 24,280 34,951 Shanghai Commercial & Savings Bank — 279,202 Standard Chartered Bank — 229,063 Sumitomo Mitsui Banking Corporation 217,347 44,826 The Export-Import Bank of Korea — 146,549 Unicredit Bank 14,220 — Wells Fargo Bank, N.A. 67,519 82,480 Zuercher Kantonalbank 7,044 — Others 51,661 65,252 Subtotals 1,541,752 2,646,756 Totals 3,798,978 2,646,756 (*) Corresponds to funds obtained through the new Conditional Funding Facility (FCIC) and the Liquidity Credit Line (LCL), granted by the Central Bank of Chile (BCCh) in response to the financials needsgenerated by the spread of the COVID-19 virus. Funds obtained through FCIC are guaranteed by high credit quality loans and / or bonds issued by the BCCh and have automatic and successively monthly renewal maturities, with a maximum term of 4 years from March 30, 2020 until March 30, 2024. The LCL differs from FCIC as is not guaranteed, has a maximum term of 2 years and is granted based on the amount of the Bank's average reserve requirements. Both, the FCIC and the LCL, accrue interests at the BCCh overnight rate in force on the date of each operation. Note 19 - Interbank Borrowings, continued |
Schedule of Interbank Borrowings from Financial Institutions by Maturity | a) Interbank borrowings by maturity are as follows: As of December 31, 2020 2019 MCh$ MCh$ Within 1 year 942,140 1,997,751 After 1 year but within 2 years 962,045 442,784 After 2 years but within 3 years 8,764 83,908 After 3 years but within 4 years 1,847,890 80,073 After 4 years but within 5 years 15,675 7,521 After 5 years 22,464 34,719 Totals 3,798,978 2,646,756 |
Debt Instruments Issued and O_2
Debt Instruments Issued and Other Financial Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [Abstract] | |
Schedule of Composition | As of December 31, 2020 and 2019, composition of debt instruments issued and other financial liabilities is as follows: As of December 31, 2020 2019 MCh$ MCh$ Debt instruments issued Mortgage finance bonds 30,846 40,933 Senior bonds 5,092,979 5,289,084 Subordinated bonds 1,081,031 1,078,339 Subtotals 6,204,856 6,408,356 Other financial liabilities Liabilities with the public sector — 10 Borrowings from local financial institutions 13,123 12,956 Subtotals 13,123 12,966 Totals 6,217,979 6,421,322 |
Schedule of Debt Classified | Debts classified as short-term are those that constitute demand obligations or will mature within a year. All other debts are classified as long-term. Detail is as follows As of December 31, 2020 Long term Short term Totals MCh$ MCh$ MCh$ Mortgage finance bonds 24,251 6,595 30,846 Senior bonds 4,771,301 321,678 5,092,979 Subordinated bonds 1,081,031 — 1,081,031 Debt instruments issued 5,876,583 328,273 6,204,856 Other financial liabilities — 13,123 13,123 As of December 31, 2019 Long term Short term Totals MCh$ MCh$ MCh$ Mortgage finance bonds 33,046 7,887 40,933 Senior bonds 4,645,463 643,621 5,289,084 Subordinated bonds 1,078,339 — 1,078,339 Debt instruments issued 5,756,848 651,508 6,408,356 Other financial liabilities — 12,966 12,966 |
Summary of Maturities for Mortgage Finance Bonds | Detail of maturities for mortgage finance bonds is as follows: As of December 31, 2020 2019 MCh$ MCh$ Within 1 year 6,595 7,887 After 1 year but within 2 years 5,638 6,508 After 2 years but within 3 years 5,068 6,072 After 3 years but within 4 years 4,544 5,524 After 4 years but within 5 years 3,484 5,121 After 5 years 5,517 9,821 Totals 30,846 40,933 |
Schedule of Senior Bonds, by Currency | Details for senior bonds, by currency, are as follows: As of December 31, 2020 2019 MCh$ MCh$ Bonds in UF 4,134,994 4,273,637 Bonds in CLP 399,992 481,083 Bonds in COP 557,993 534,364 Totals 5,092,979 5,289,084 |
Schedule of Maturities for Senior Bonds | Detail of maturities for senior bonds is as follows: As of December 31, 2020 2019 MCh$ MCh$ Due within 1 year 321,678 643,621 After 1 year but within 2 years 486,427 323,921 After 2 years but within 3 years 309,111 608,342 After 3 years but within 4 years 589,699 282,882 After 4 years but within 5 years 592,851 478,634 After 5 years 2,793,213 2,951,684 Totals 5,092,979 5,289,084 |
Summary of Senior Bonds Issued | The following table presents details for senior bonds issued: Senior bonds issued during the year ended December 31, 2020: Serie Currency Amount Term Issuance rate Placement date Maturity date BITACR0418 UF 500,000 5 years and 8 months 2% annual 01/14/2020 10/09/2025 BITACR0418 UF 1,000,000 5 years and 8 months 2% annual 01/14/2020 10/09/2025 BITACR0418 UF 500,000 5 years and 8 months 2% annual 01/14/2020 10/09/2025 BITACR0418 UF 3,000,000 5 years and 9 months 2% annual 04/08/2020 10/09/2025 BITACS0418 UF 3,000,000 6 years and 6 months 2% annual 04/08/2020 10/09/2026 Totals 8,000,000 Serie Currency Amount Term Issuance rate Placement date Maturity date SERIE A - 60 COP 148,100,000,000 5 years 6.00% annual 02/27/2020 02/27/2025 SERIE U - 120 COP 351,837,710,484 10 years 2.71% annual 02/27/2020 02/27/2030 SERIE A SUBSERIE A60 COP 165,915,000,000 5 years 4.83% annual 09/29/2020 09/29/2025 SUBSERIE B36 COP 134,100,000,000 3 years 1.28% annual 09/29/2020 09/29/2023 Totals 799,952,710,484 Senior bonds issued during the year ended December 31, 2019: Serie Currency Amount Term Issuance rate Placement date Maturity date BCORAM0710 UF 2,000,000 5 years and 5 months 3% annual 02/11/2019 07/01/2024 BCORAM0710 UF 3,000,000 5 years and 5 months 3% annual 02/15/2019 07/01/2024 BITACU0418 UF 2,000,000 9 years and 7 months 2% annual 02/25/2019 10/09/2028 BITACU0418 UF 2,000,000 9 years and 7 months 2% annual 02/26/2019 10/09/2028 BITACV0418 UF 2,000,000 10 years and 7 months 2% annual 03/07/2019 10/09/2029 BITACV0418 UF 2,000,000 10 years and 7 months 2% annual 03/14/2019 10/09/2029 BITACW0418 UF 2,500,000 11 years and 5 months 2% annual 05/07/2019 10/09/2030 BITACS0418 UF 2,000,000 7 years and 3 months 2% annual 07/03/2019 10/09/2026 Totals 17,500,000 Serie Currency Amount Term Issuance rate Placement date Maturity date BCORBX0914 CLP 40,000,000 2 years and 2 months 5% annual 07/04/2019 09/01/2021 BCORBX0914 CLP 1,000,000 2 years and 2 months 5% annual 07/05/2019 09/01/2021 BCORBX0914 CLP 14,500,000 2 years and 2 months 5% annual 07/10/2019 09/01/2021 BCORBX0914 CLP 1,500,000 2 years and 2 months 5% annual 07/15/2019 09/01/2021 Totals 57,000,000 Serie Currency Amount Term Issuance rate Placement date Maturity date SUBSERIE A36 COP 163,035,000,000 3 years 6.13% annual 05/21/2019 05/21/2022 SUBSERIE C60 COP 186,965,000,000 5 years 2.86% annual 05/21/2019 05/21/2024 SERIE A SUBSERIE A60 – 60 COP 170,820,000,000 5 years 6.05% annual 10/16/2019 10/16/2024 SERIE C SUBSERIE C84 – 84 COP 50,000,000,000 7 years 2.28% annual 10/16/2019 10/16/2026 SERIE C SUBSERIE C120 COP 129,180,000,000 10 years 2.76% annual 10/16/2019 10/16/2029 Totals 700,000,000,000 |
Schedule of Subordinated Bonds, by Currency | Details of subordinated bonds, by currency, are as follows: As of December 31, 2020 2019 MCh$ MCh$ Bonds in UF 95,373 95,545 Bonds in CLP 811,185 796,564 Bonds in COP 174,473 186,230 Totals 1,081,031 1,078,339 |
Summary of Maturities for Subordinated Bonds | Detail of maturities for subordinated bonds is as follows: As of December 31, 2020 2019 MCh$ MCh$ Within 1 year — — After 1 year but within 2 years 10,082 — After 2 years but within 3 years 21,706 14,526 After 3 years but within 4 years 122,290 23,923 After 4 years but within 5 years — 128,717 After 5 years 926,953 911,173 Totals 1,081,031 1,078,339 |
Summary of Others Financial Obligations | a) Others financial obligations As of December 31, 2020 2019 MCh$ MCh$ Within 1 year — — After 1 year but within 2 years — — After 2 years but within 3 years — — After 3 years but within 4 years — — After 4 years but within 5 years — — After 5 years — — Totals financial liabilities — — Short-term financial liabilities Amounts due to credit card transactions 13,123 12,956 Others — 10 Totals short-term financial liabilities 13,123 12,966 Totals other financial liabilities 13,123 12,966 |
Provisions (Tables)
Provisions (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of defined benefit plans [line items] | |
Schedule of Provisions | Provisions disclosed in liabilities as of December 31, 2020 and 2019 present the following detail: As of December 31, 2020 2019 MCh$ MCh$ Provisions for personnel salaries and expenses 90,739 102,877 Provisions for mandatory dividends — 38,120 Provisions for contingent loans risk 39,775 34,271 Provisions for contingencies 4,576 2,559 Totals 135,090 177,827 |
Movements in Contingent Loans Provisions For Contingent Loan Risk According to IFRS9 | b) Movements in provisions for contingent loans risk, for the year ended December 31, 2020 are as follows: Provisions for contingent loans risk Stage 1 Stage 2 Stage 3 12-Month ECL Lifetime ECL Lifetime ECL Totals Opening balances as of January 1, 2020 13,889 14,172 6,210 34,271 Changes in provisions - Transfers to stage 1 574 (549) (25) — - Transfers to stage 2 (1,991) 2,037 (45) — - Transfers to stage 3 (73) (112) 185 — - Increases due to change in credit risk 3,554 4,347 724 8,625 - Decreases due to change in credit risk (3,475) (6,466) (205) (10,146) - Charge-offs (14) (28) (6) (48) - Changes due to modifications that did not result in derecognition — — — — New financial assets originated or purchased 6,365 1,780 7,357 15,502 Financial assets that have been derecognized (4,633) (1,282) (5,410) (11,325) Changes in models/risk parameters — — — — Foreign exchange and other movements 4,391 (1,720) 224 2,896 Ending balances as of December 31, 2020 18,587 12,179 9,009 39,775 Note 21 – Provisions, continued Movements in provisions for contingent loans risk, for the year ended December 31, 2019 are as follows: Provisions for contingent loans risk Stage 1 Stage 2 Stage 3 12-Month ECL Lifetime ECL Lifetime ECL Totals Opening balances as of January 1, 2019 15,879 28,112 1,857 45,848 Changes in provisions - Transfers to stage 1 1,123 (1,036) (87) — - Transfers to stage 2 (521) 570 (49) — - Transfers to stage 3 (90) (161) 251 — - Increases due to change in credit risk 1,932 1,618 4,605 8,155 - Decreases due to change in credit risk (5,695) (802) (157) (6,654) - Charge-offs — — — — - Changes due to modifications that did not result in derecognition — — — — New financial assets originated or purchased 5,490 1,193 780 7,463 Financial assets that have been derecognized (4,927) (15,322) (990) (21,239) Changes in models/risk parameters — — — — Foreign exchange and other movements 698 — — 698 Ending balances as of December 31, 2019 13,889 14,172 6,210 34,271 |
Schedule of Provision Balance Changes | c) The following table details the movements in provision during 2020 and 2019: Provisions for personnel Provision for Provisions for Provisions for salaries and expenses mandatory dividends contingent loans risk contingencies (i) (ii) (iii) Totals MCh$ MCh$ MCh$ MCh$ MCh$ Opening balances as of January 1, 2020 102,877 38,120 34,271 2,559 177,827 Provisions applied (55,487) (38,120) — (85) (93,692) Provisions established 133,055 — 16,366 4,593 154,014 Provisions released (85,078) — (10,861) (2,016) (97,955) Other movements (4,628) — (1) (475) (5,104) Ending balances as of December 31, 2020 90,739 — 39,775 4,576 135,090 Provisions for personnel Provisions for Provisions for Provisions for salaries and expenses mandatory dividends contingent loans risk contingencies (i) (ii) (iii) Totals MCh$ MCh$ MCh$ MCh$ MCh$ Opening balances as of January 1, 2019 99,945 51,614 45,848 17,496 214,903 Provisions applied (71,020) (51,614) (23,804) 5,601 (140,837) Provisions established 82,456 38,120 18,483 5,408 144,467 Provisions released (17,514) — (6,954) (26,367) (50,835) Other movements 9,010 — 698 421 10,129 Ending balances as of December 31, 2019 102,877 38,120 34,271 2,559 177,827 (i) Employee benefits and staff salaries are recorded in “Personnel salaries and expenses.” (ii) Mandatory dividends is recorded in the Consolidated Statement of Financial Position in equity, against “Provision for mandatory dividends.” Note 21 – Provisions, continued (iii) The provisions for contingencies (established) or released are included in Other operating (expenses)/income, depending on whether they are debit or a credit. |
Schedule of Provisions for Payroll and Employee Benefits | d) Provisions for payroll and employee benefits As of December 31, 2020 2019 MCh$ MCh$ Provision for long-term termination benefits (e.1) 9,300 9,814 Provision for pension plan (e.2) 31,531 35,166 Provision for retroactive unemployment plan (e.3) 296 334 Provision for retirements bonus plan (e.4) 689 687 Provision for compensation due to years of service (short term) 716 — Provision for other employee benefits (*) 31,000 41,645 Vacation accrual (**) 17,207 15,231 Totals 90,739 102,877 (*) Short-term benefits (**) Includes provision for performance compensations, holiday benefits, year-end bonuses and other similar employee compensation. |
Schedule of Defined Benefit Obligation and the Amounts Recognized in the Statement of Income | The movements of the present value of the obligation for this type of benefit and the amounts recognized in the Consolidated Statements of Income are determined using the projected credit unit method and it consist of the following: 2020 2019 MCh$ MCh$ Opening balances as of January 1, 9,814 8,298 Net cost of benefits (*) 1,191 1,490 Payments (820) (815) Provisions recorded — 278 Exchange differences (885) 563 Ending balances as of December 31, 9,300 9,814 (*) Detail of net cost of benefit is as follows: As of December 31, 2020 2019 MCh$ MCh$ Current services cost 681 Interest expense on obligation 510 Total 1,191 1,490 |
Schedule of Summary Effects in Other Comprehensive Income | The effect on Other Comprehensive Income is summarized as follows: For the years ended December 31, 2020 2019 2018 MCh$ MCh$ MCh$ Pension plan (e.2) 885 (4,512) (698) Retroactive unemployment plan (e.3) (29) 113 (32) Retirement bonus plan (e.4) 33 (33) (24) Total recognition of obligations for defined benefits 889 (4,432) (754) |
Schedule of future payments | The following is a detail of future payments for the year 2020 and 2019: Long-term Retroactive Retirement termination unemployment benefit 2020 benefits Pension plan plan plan MCh$ MCh$ MCh$ MCh$ Fiscal year 2021 953 2,614 65 72 Fiscal year 2022 1,105 2,471 56 42 Fiscal year 2023 1,105 2,410 66 48 Fiscal year 2024 877 2,388 29 38 Fiscal year 2025 786 2,360 15 40 Fiscal year 2026-2030 (combined) 4,612 11,161 43 197 Long-term Retroactive termination unemployment Retirement 2019 benefits Pension plan plan benefit plan MCh$ MCh$ MCh$ MCh$ Fiscal year 2020 948 3,116 69 64 Fiscal year 2021 1,058 2,960 16 28 Fiscal year 2021 1,250 2,793 70 47 Fiscal year 2023 1,245 2,725 77 50 Fiscal year 2024-2031 (combined) 915 2,698 29 42 Fiscal year 2025-2031 (combined) 5,134 12,844 71 222 |
Long-term employee benefits [member] | |
Disclosure of defined benefit plans [line items] | |
Summary of Economic Assumptions | The economic assumptions are summarized as follows: As of December 31, 2020 2019 % % Summary of economic assumptions Discount rate 5.00 Expected rate of salary increase 4.50 5.50 |
Pension plan [member] | |
Disclosure of defined benefit plans [line items] | |
Summary of Economic Assumptions | The summary of the economic assumptions is as follows: As of December 31, 2020 2019 % % Assumptions Discount rate 4.25 6.50 Expected rate of salary increases 3.00 3.00 Inflation rate 3.00 3.00 |
Schedule of movements of plan balances | Note 21 – Provisions, continued The detail of Pension plan balances movements is as follows: 2020 2019 MCh$ MCh$ Opening balances as of January 1, 35,166 30,908 Interest expense on obligation 1,911 2,120 Payments (3,260) (3,768) Actuarial losses (gains) 885 4,512 Exchange differences (3,171) 1,394 Ending balances as of December 31, 31,531 35,166 |
Retroactive unemployment plan [member] | |
Disclosure of defined benefit plans [line items] | |
Summary of Economic Assumptions | The economic assumptions are summarized as follows: As of December 31, 2020 2019 % % Assumptions Discount rate 4.25 5.50 Expected rate of salary increases 4.50 5.50 Inflation rate 3.00 3.00 |
Schedule of movements of plan balances | The details of movements for this benefits during years ended December 31, 2020 and 2019 are as follows: 2020 2019 MCh$ MCh$ Opening balances as of January 1, 334 373 Current services costs 87 136 Interest expense on obligations 15 21 Actuarial gains (29) (113) Payments of benefits (80) (108) Exchange differences (31) 25 Ending balances as of December 31, 296 334 |
Retirements bonus plan [member] | |
Disclosure of defined benefit plans [line items] | |
Summary of Economic Assumptions | The economic assumptions are summarized as follows: As of December 31, 2020 2019 % % Summary of economic hypothesis Discount rate(s) Expected rate(s) of salary increase Inflation rate |
Schedule of movements of plan balances | The movements in amounts recognized for this benefit are as follows: 2020 2019 MCh$ MCh$ Opening balances as of January 1, 687 542 Current service costs 46 — Interest expense on obligation 39 81 Actuarial (gains) losses (13) 33 Payments of benefits (7) (6) Exchange differences (63) 37 Ending balances as of December 31, 689 687 |
Other liabilities and liabili_2
Other liabilities and liabilities directly associated with non-current assets held for sale (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [Abstract] | |
Schedule of other liabilities | a) As of December 31, 2020 and 2019 the other liabilities are as follows: As of December 31, 2020 2019 MCh$ MCh$ Accounts and notes payable (1) 310,713 382,271 Dividends payable 246 267 Unearned income (2) 5,946 5,644 Unearned fees 7,690 8,321 Payables due to brokerage transactions 24,572 140,799 Collateral for financial transactions (threshold) 308,674 116,654 Other liabilities 42,193 54,958 Totals 700,034 708,914 (1) Obligations other than those directly related to the business operations, such as payable withholding taxes, payable social security contributions, balances due on purchases of materials, balances due on obligations under lease agreements for the acquisition of fixed assets, accounts payable for expenses, and others. (2) It corresponds to commissions associated with financial advisory and insurance brokerage businesses that must be deferred in accordance with applicable regulations. |
Contingencies, Commitments, a_2
Contingencies, Commitments, and Responsibilities (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [Abstract] | |
Schedule of Bank and Its Subsidiaries are Contractually Obliged to Grant Loans | The following table contains the amounts for which the Bank and its subsidiaries are contractually obliged to grant loans together with the relevant allowances for loan losses: As of December 31, 2020 2019 MCh$ MCh$ Collateral and guarantees 437,396 548,521 Confirmed foreign letters of credit 2,207 509 Letters of credit issued 136,561 97,553 Documented guarantees 1,407,102 1,501,957 Available on demand credit lines 2,656,219 2,623,744 Other credit commitments 754,375 1,167,802 Totals 5,393,860 5,940,086 |
Schedule of Responsibilities Arising From the Regular Course of Business | The Bank and its subsidiaries have the following responsibilities arising from its regular course of business: As of December 31, 2020 2019 MCh$ MCh$ Third party operations Collections 16,540 17,985 Transferred financial assets managed by the Bank 1,183,053 1,200,155 Third party funds under management — 2,541,495 Subtotals 1,199,593 3,759,635 Custody of securities Securities held in custody 2,269,967 5,229,078 Securities held in custody deposited in other entities 259 — Securities issued by the Bank held in custody 105,585 131,648 Subtotals 2,375,811 5,360,726 Totals 3,575,404 9,120,361 |
Schedule of Policies | Entity From To Amount (UF) Beneficiary Consorcio Nacional de Seguros S.A. 04-15-2020 04-14-2021 60,000 and 500 Itaú Corredores de Seguros S.A. |
Schedule of Performance Bond | Entity From To Amount (UF) Beneficiary Itaú Corpbanca Chile 04-22-2020 04-22-2021 16,000 Bolsa Electrónica de Chile Mapfre Compañía de Seguros S.A 04-22-2020 04-22-2022 4,000 Bolsa de Comercio de Santiago Itaú Corpbanca Chile 04-22-2020 06-22-2021 10,000 Comisión para el Mercado Financiero |
Schedule of Comprehensive Insurance Policy | In addition, the Company has contracted a comprehensive insurance policy to provide for possible situations of operational fidelity. The detail of the comprehensive insurance policy is as follows: Entity From To Amount (UF) Beneficiary Orión Seguros Generales S.A 06-26-2020 05-31-2021 5,000 and 10,000 Bolsa Electrónica de Chile |
Schedule of Guarantee Slips and Beneficiaries | Entity From To Amount (UF) Amount (MCh$) Beneficiary Banco Santander Chile 06-02-2017 08-31-2021 15,000 — Corporación de Fomento de la Producción CORFO Banco Santander Chile 08-14-2017 08-30-2021 500 — Corporación de Fomento de la Producción CORFO Itaú-Corpbanca 07-02-2020 07-01-2021 — 50 Ferrocarriles del Estado |
Equity (Tables)
Equity (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [Abstract] | |
Schedule of Paid in Capital of the Bank | As of December 31, 2020, 2019 and 2018, the paid-in capital of the Bank is represented by common shares subscribed and paid, with no par value, and its motion presented below: Common shares 2020 2019 2018 (number) (number) (number) Issued as of January 1, 512,406,760,091 512,406,760,091 512,406,760,091 Issuance of paid shares — — — Increase in share for Itaú-Corpbanca business combination — — — Issuance of shares pending payment — — — Repurchase of own shares — — — Sale of own shares — — — Issued as of December 31, 512,406,760,091 512,406,760,091 512,406,760,091 |
Schedule of Shareholder List | The shareholders list as of December 31, 2020, 2019 and 2018, is as follows: Shares 2020 2019 2018 Number of Ownership Number of Ownership Number of Ownership Company name or shareholder name shares % shares % shares % Itaú Unibanco 200,966,823,626 39.22 % 195,408,043,473 38.14 % 195,408,043,473 38.14 % Itaú Unibanco Holding S.A. 115,039,610,411 22.45 % 115,039,610,411 22.45 % 115,039,610,411 22.45 % ITB Holding Brasil Participaçoes Ltda. 62,567,655,359 12.21 % 57,008,875,206 11.13 % 57,008,875,206 11.13 % CGB II SpA 10,908,002,836 2.13 % 10,908,002,836 2.13 % 10,908,002,836 2.13 % CGB III SpA 1,800,000,000 0.35 % 1,800,000,000 0.35 % 1,800,000,000 0.35 % Saga II SpA 7,000,000,000 1.37 % 7,000,000,000 1.37 % 7,000,000,000 1.37 % Saga III SpA 3,651,555,020 0.71 % 3,651,555,020 0.71 % 3,651,555,020 0.71 % Saieh Family 140,835,760,455 27.49 % 146,394,540,608 28.57 % 146,394,540,608 28.57 % Corp Group Banking S.A. 136,127,850,073 26.57 % 136,127,850,073 26.57 % 136,127,850,073 26.57 % Compañía Inmobiliaria y de Inversiones Saga SpA (1) 4,707,910,382 0.92 % 10,266,690,535 2.00 % 10,266,690,535 2.00 % International Finance Corporation 17,017,909,711 3.32 % 17,017,909,711 3.32 % 17,017,909,711 3.32 % Others 153,586,266,299 % 153,586,266,299 29.97 % 153,586,266,299 29.97 % Stock brokers 80,382,817,848 % 63,397,824,244 12.37 % 55,791,614,655 10.89 % ADR holders and foreign investors 35,127,077,810 % 50,376,882,652 9.83 % 42,838,887,354 8.36 % Local institutional investors 25,351,261,131 % 27,989,426,434 — 5.46 % 26,979,482,570 — 5.26 % Santo Domingo Group — — % 11,822,132,969 2.31 % 9,817,092,180 1.92 % Other minority shareholders 12,725,109,510 2.47 % — — % 18,159,189,540 3.54 % Totals 512,406,760,091 100 % 512,406,760,091 100 % 512,406,760,091 100 % (1) As of December 31, 2019, includes 1,005,897,850 shares owned by Saga held in custody. |
Schedule of Distribution of Dividends | At the Ordinary Meeting of the Shareholders of Itaú Corpbanca held on March 18, 2020, the shareholders agreed to distribute net income for MCh$127,065 representing 100% of the profits for 2019 (as filed with the CMF) and at an Ordinary Meeting of the Shareholders of Itaú Corpbanca held on March 19, 2019, the shareholders agreed to distribute profits for MCh$51,614, representing 30% of the 2018 net income (as filed with the CMF). Income Allocated to attributable to reserves and Dividend per equity holders retained Allocated to Percentage share Years (*) earnings (*) dividends distributed Number of shares (in pesos) MCh$ MCh$ MCh$ % Year 2019 (Shareholders’ Meeting March 2020) 127,065 — 127,065 100% 512,406,760,091 0.24798 Year 2018 (Shareholders’ Meeting March 2019) 172,047 120,433 51,614 30% 512,406,760,091 0.10073 (*) According to the Consolidated Financial Statements filed with the CMF. |
Schedule of Attributable to the Equity Holders of the Bank | Note 24 – Equity, continued As of December 31, 2020 and 2019 and for the year ended December 31, 2020, 2019 and 2018, the basic earnings and diluted earnings are as follows: As of and for the years ended December 31, 2020 2019 2018 N° of Shares Amount N° of Shares Amount N° of Shares Amount Millions MCh$ Millions MCh$ Millions MCh$ Basic earnings per share Net income for the year — (808,784) — 113,684 — 171,331 Weighted average number of outstanding shares 512,407 — 512,407 — 512,407 — Assumed convertible debt conversion — — — — — — Adjusted number of outstanding shares 512,407 — 512,407 — 512,407 — Basic earnings per share (Chilean pesos) — (1.578) — 0.222 — 0.334 Diluted earnings per share Net income for the year — (808,784) — 113,684 — 171,331 Weighted average number of outstanding shares 512,407 — 512,407 — 512,407 — Dilutive effects Assumed convertible debt conversion — — — — — — Conversion of common shares — — — — — — Options rights — — — — — — Adjusted number of shares 512,407 — 512,407 — 512,407 512,407 Diluted earnings per share (Chilean pesos) — (1.578) — 0.222 — 0.334 |
Schedule of Equity Effects and Income Taxes | Note 24 – Equity, continued The following are the equity effects and income taxes for years ended December 31, 2020, 2019 and 2018: Exchange differences on Hedge of net investment in Debt investments in Colombia and Defined Equity instruments Cash flow foreign New York benefits instruments As of December 31, 2020 at FVTOCI hedge operations branch obligations at FVTOCI Totals MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Other comprehensive income (loss) before income taxes Opening balances as of January 1, 2020 37,484 (822) (17,383) 37,328 (6,484) 1,739 51,862 Effects for the year (4,330) (7,799) 80,722 (64,169) (1,632) 310 3,102 Transfer of gain on disposal of equity investments at fair value through other comprehensive income to retained earnings — — — 12 — (389) (377) Ending balances as of December 31, 2020 33,154 (8,621) 63,339 (26,829) (8,116) 1,660 54,587 Income taxes related to components of other comprehensive income (loss) Opening balances as of January 1, 2020 (12,705) (465) 6,627 — 1,798 — (4,745) Effects for the period (55) (1,602) (21,795) — 434 — (23,018) Ending balances as of December 31, 2020 (12,760) (2,067) (15,168) — 2,232 — (27,763) Net balances as of December 31, 2020 20,394 (10,688) 48,171 (26,829) (5,884) 1,660 26,824 Exchange differences on Hedge of net investment in Debt investments Colombia and Defined Equity instruments Cash flow in foreign New York benefits instruments As of December 31, 2019 at FVTOCI hedge operations branch obligations at FVTOCI Totals MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Other comprehensive income (loss) before income taxes Opening balances as of January 1, 2019 16,459 5,559 29,403 (19,119) (3,236) 1,334 30,400 Effects for the year 21,025 (6,381) (46,786) 56,487 (3,248) 540 21,637 Transferof hain on disponsal of equity investments at fair value through other comprehensive income to retainedearnings — — — (40) — (135) (175) Ending balances as of December 31, 2019 37,484 (822) (17,383) 37,328 (6,484) 1,739 51,862 Income taxes related to components of other comprehensive income (loss) Opening balances as of January 1, 2019 (6,904) (280) (7,746) — 689 — (14,241) Effects for the year (5,801) (185) 14,373 — 1,109 — 9,496 Ending balances as of December 31, 2019 (12,705) (465) 6,627 — 1,798 — (4,745) Net balances as of December 31, 2019 24,779 (1,287) (10,756) 37,328 (4,686) 1,739 47,117 Note 24 – Equity, continued Exchange differences on Hedge of net investment Debt investments in Colombia Defined Equity instruments Cash flow in foreign and New York benefits instruments As of December 31, 2018 at FVTOCI hedge operations branch obligations at FVTOCI Totals MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Other comprehensive income (loss) before income taxes Opening balances as of January 1, 2018 16,592 (5,730) 64,741 (57,485) (2,736) — 15,382 Changes due initial adoption IFRS 9 481 — — — — 1,015 1,496 Restated opening balances as of January 1, 2018 17,073 (5,730) 64,741 (57,485) (2,736) 1,015 16,878 Effects for the period (614) 11,289 (35,338) 38,366 (500) 319 13,522 Ending balances as of December 31, 2018 16,459 5,559 29,403 (19,119) (3,236) 1,334 30,400 Income taxes related to components of other comprehensive income (loss) Opening balances as of January 1, 2018 (4,937) 1,389 (17,287) — 718 — (20,117) Changes due initial adoption IFRS 9 (499) — — — — — (499) Restated opening balances as of January 1, 2018 (5,436) 1,389 (17,287) — 718 — (20,616) Effects for the period (1,468) (1,669) 9,541 — (29) — 6,375 Ending balances as of December 31, 2018 (6,904) (280) (7,746) — 689 — (14,241) Net balances as of December 31, 2018 9,555 5,279 21,657 (19,119) (2,547) 1,334 16,159 |
Schedule of Non-controlling Interest in the Subsidiary's Equity and Profit | As of December 31, 2020 Other Comprehensive Income Hedge of Exchange net Financial differences investment Cash Defined Total other Total Non- Net instruments at on in foreign flows benefits Deferred comprehensive comprehensive Subsidiaries controlling Equity income FVTOCI (1) translation operations hedge obligations Tax income income % MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Itaú Corredor de Seguro Colombia S.A. (1) 20.200 % 404 (33) — — — — — — — (33) Itaú Corpbanca Colombia S.A. and subsidiaries 12.900 % 68,683 (17,338) (3,859) (7,602) — 2,117 1,629 (272) (7,987) (25,325) Totals 69,087 (17,371) (3,859) (7,602) — 2,117 1,629 (272) (7,987) (25,358) (1) Financial instruments at FVOCI include debt instruments for MCh$3,807 and equity instruments MCh$52 loss. As of December 31, 2019 Other Comprehensive Income Hedge of Exchange net Financial differences investment Cash Defined Total other Total Non- Net instruments at on in foreign flows benefits Deferred comprehensive comprehensive Subsidiaries controlling Equity income FVTOCI (2) translation operations hedge obligations Tax income income % MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Itaú Corredor de Seguro Colombia S.A. 20.200 % 478 125 — — — — — — — 125 Itaú Corpbanca Colombia S.A. and subsidiaries (2)(3) 12.900 % 93,967 10,713 952 17,368 — (411) (1,184) 331 17,056 27,769 Itaú Corredores de Seguros S.A. — % — — — — — — — — — — Totals 94,445 10,838 952 17,368 — (411) (1,184) 331 17,056 27,894 (2) Financial instruments at FVOCI include debt instruments for MCh$678 loss and equity instruments MCh$274 gain. (3) On December 3, 2019, after obtaining regulatory approvals from banking supervisors in Chile, Colombia and Brazil, Itaú Corpbanca completed the acquisition of the Itaú Corpbanca Colombia shares owned by Helm LLC and Kresge Stock Holding Company Inc. As a result of these acquisitions, Itaú Corpbanca owns approximately 87.10% of the shares of Itaú Corpbanca Colombia. As of December 31, 2018 Other Comprehensive Income Hedge of Exchange net Financial differences investment Cash Defined Total other Non- Net instruments at on in foreign Flows benefits Deferred comprehensive Comprehensive Subsidiaries controlling Equity income FVTOCI (4) translation operations hedges obligations Tax income income % MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Itaú Corredor de Seguro Colombia S.A. 20.200 % 409 15 — — — — — — — 15 Itaú Corpbanca Colombia S.A. y filiales (4) 33.721 % 217,673 (4,500) (664) 10,244 (1,195) — (254) 305 8,436 3,936 Itaú Corredores de Seguros S.A. (5) — % — 8 — — — — — — — 8 Totals 218,082 (4,477) (664) 10,244 (1,195) — (254) 305 8,436 3,959 (4) Financial instruments at FVOCI includes debt instruments for MCh$827 loss and equity instruments MCh$163 gain. (5) On April 1, 2018, the merger of Corpbanca Corredores de Seguro S.A. and Itaú Chile Corredora de Seguros Limitada through the absorption of this last entity in the first took place, being its new name Itaú Corredores de Seguros S.A. On September 10, 2018, Itaú Corpbanca acquired 127,901 shares from minority investors. As a result, the Bank and its subsidiaries own a 100% of the Company shares. Note 24 – Equity, continued (6) On December 10, 2018, Itaú Corpbanca acquired 1 share from minority investors. As a result, the Bank and its subsidiaries own a 100% of the Company shares. (7) On July 4, 2018, Itaú Asesorías Financieras acquired 2 shares from minority investors. As a result, the Bank and its subsidiaries own a 100% of the Company shares. |
Schedule of Non-controlling Interest Movement | The following table shows the non-controlling interest movements for the year ended December 31, 2020, 2019 and 2018: As of December 31, 2020 2019 2018 MCh$ MCh$ MCh$ Opening balances as of January 1, 94,445 218,082 217,280 Changes due to initial application of IFRS 9 — — (3,157) Restated opening balances as of January 1, 94,445 218,082 214,123 Increase participation in Colombia — (151,531) — Comprehensive income (25,358) 27,894 3,959 Ending balances as of December 31, 69,087 94,445 218,082 |
Schedule of Main Subsidiary with Non-controlling Interest | As of December 31, 2020 2019 2018 MCh$ MCh$ MCh$ Opening balances as of January 1, 94,445 218,082 217,280 Changes due to initial application of IFRS 9 — — (3,157) Restated opening balances as of January 1, 94,445 218,082 214,123 Increase participation in Colombia — (151,531) — Comprehensive income (25,358) 27,894 3,959 Ending balances as of December 31, 69,087 94,445 218,082 Details for the main subsidiary of Itaú Corpbanca with non-controlling interest are as follows: As of December 31, 2020 2019 Group Non-controlling Group Non-controlling Entity Name Country participation participation participation participation Itaú Corpbanca Colombia S.A. and subsidiaries Colombia 87.100 % 12.900 % 87.100 % 12.900 % |
Schedule of Consolidation Elimination Adjustments | Summarized financial information for the main subsidiary with non-controlling interest, is as follows: As of December 31, Summary Statements of Financial Position 2020 2019 MCh$ MCh$ Current assets 5,177,419 5,383,819 Current liabilities (3,184,281) (3,112,252) Net current assets (liabilities) 1,993,138 2,271,567 Non-current assets 856,927 1,174,958 Non-current liabilities (2,286,951) (2,729,714) Net non-current assets (liabilities) (1,430,024) (1,554,756) Total net assets (liabilities) 563,114 716,811 Accumulated non-controlling interest 68,683 93,967 |
Summary of Income Statements | For the years ended December 31, Summary Income Statements 2020 2019 MCh$ MCh$ Interest income and readjustments 418,477 528,150 Income for the year (101,498) 16,490 Non-controlling interests income (17,338) 10,713 |
Summary of Cash Flows Statements | For the years ended December 31, Summary Cash Flows Statements 2020 2019 MCh$ MCh$ Net cash flows provided by (used in) operating activities (109,188) (359,168) Net cash flows provided by (used in) investing activities 27,673 111,607 Net cash flows provided by (used in) financing activities 74,137 115,303 Net increase (decrease) in cash flows (7,378) (132,258) |
Schedule of Consolidated Comprehensive Income | For the years ended December 31, Summary Cash Flows Statements 2020 2019 MCh$ MCh$ Net cash flows provided by (used in) operating activities (109,188) (359,168) Net cash flows provided by (used in) investing activities 27,673 111,607 Net cash flows provided by (used in) financing activities 74,137 115,303 Net increase (decrease) in cash flows (7,378) (132,258) g) Consolidated comprehensive income for the years ended December 31, 2020, 2019 and 2018 hfs 2020 Equity holders Non-controlling Concepts of the Bank interest Totals MCh$ MCh$ MCh$ Income (loss) for the year (808,784) (17,371) (826,155) Other comprehensive income (loss) before income taxes Debt instruments at fair value through other comprehensive income (4,330) (3,905) (8,235) Hedge of net investment in foreign operations 80,722 — 80,722 Cash flows hedge (7,799) 2,117 (5,682) Exchange differences (64,169) (7,602) (71,771) Changes in the fair value of equity investments at fair value through other comprehensive income 310 46 356 Defined benefits obligation (1,632) 1,629 (3) Subtotals 3,102 (7,715) (4,613) Income taxes Debt instruments at fair value through other comprehensive income (55) 1,613 1,558 Hedge of net investment in foreign operations (21,795) — (21,795) Cash flows hedge (1,602) (1,432) (3,034) Defined benefits obligation 434 (453) (19) Subtotals (23,018) (272) (23,290) Other comprehensive loss for the year (19,916) (7,987) (27,903) Comprehensive loss for the year (828,700) (25,358) (854,058) 2019 Equity holders Non-controlling Concepts of the Bank interest Totals MCh$ MCh$ MCh$ Income (loss) for the year 113,684 10,838 124,522 Other comprehensive income (loss) before income taxes Debt instruments at fair value through other comprehensive income 21,025 678 21,703 Hedge of net investment in foreign operations (46,786) — (46,786) Cash flow hedge (6,381) (411) (6,792) Exchange differences 56,487 17,368 73,855 Changes in the fair value of equity investments at fair value through other comprehensive income 540 274 814 Defined benefits obligation (3,248) (1,184) (4,432) Subtotals 21,637 16,725 38,362 Income taxes Debt instruments at fair value through other comprehensive income (5,801) (125) (5,926) Hedge of net investment in foreign operations 14,373 — 14,373 Cash flow hedge (185) 23 (162) Defined benefits obligation 1,109 433 1,542 Subtotals 9,496 331 9,827 Other comprehensive income for the year 31,133 17,056 48,189 Comprehensive income for the year 144,817 27,894 172,711 Note 24 – Equity, continued 2018 Equity holders Non-controlling Concepts of the Bank interest Totals MCh$ MCh$ MCh$ Income (loss) for the year 171,331 (4,477) 166,854 Other comprehensive income (loss) before income taxes Debt instruments at fair value through other comprehensive income (614) (827) (1,441) Net investment in foreign operations hedges (35,338) (1,195) (36,533) Cash flow hedges 11,289 — 11,289 Exchange differences 38,366 10,244 48,610 Changes in the fair value of equity investments at fair value through other comprehensive income 319 163 482 Defined benefits obligations (500) (254) (754) Subtotals 13,522 8,131 21,653 Income taxes Debt instruments at fair value through other comprehensive income (1,468) (704) (2,172) Net investment in foreign operations hedges 9,541 1,024 10,565 Cash flows hedges (1,669) — (1,669) Defined benefits obligations (29) (15) (44) Subtotals 6,375 305 6,680 Other comprehensive income (loss) for the year 19,897 8,436 28,333 Comprehensive income (loss) for the year 191,228 3,959 195,187 |
Interest Income and Interest _2
Interest Income and Interest Expense (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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Schedule of Composition of Interest Income and Inflation-indexing | a) The composition of interest income and inflation-indexing for the years ended December 31, 2020, 2019 and 2018 is as follows: For the years ended December 31, 2020 2019 2018 Inflation Inflation Inflation Interest adjustments (1) Totals Interest adjustments (1) Totals Interest adjustments (1) Totals MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Investments under agreements to resell 3,567 — 3,567 4,996 (2) 4,994 4,988 — 4,988 Interbank loans 1,541 — 1,541 4,361 — 4,361 5,013 — 5,013 Commercial loans 732,791 116,425 849,216 850,212 119,461 969,673 816,193 115,468 931,661 Mortgage loans 189,833 116,993 306,826 202,945 107,352 310,297 196,598 107,364 303,962 Consumer loans 323,836 130 323,966 379,030 135 379,165 372,148 194 372,342 Financial investments 58,083 20,955 79,038 79,114 15,539 94,653 101,274 19,060 120,334 Other interest income 7,624 1,821 9,445 17,588 2,543 20,131 10,882 9,850 20,732 Gain (loss) from accounting hedges (*) 25,980 (49,905) (23,925) (9,634) — (9,634) (19,715) — (19,715) Totals 1,343,255 206,419 1,549,674 1,528,612 245,028 1,773,640 1,487,381 251,936 1,739,317 |
Schedule of Detail of the Amount Due for Interest and Readjustments | b) For the years ended December 31, 2020, 2019 and 2018, the detail of the amount of interest and inflation-indexation adjustment expense is as follows: For the years ended December 31, 2020 2019 2018 Inflation Inflation Inflation Interest adjustments (1) Totals Interest adjustments (1) Totals Interest adjustments (1) Totals MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Deposits and other demand liabilities (46,530) (312) (46,842) (52,181) (220) (52,401) (49,536) (141) (49,677) Obligations under repurchase agreements (8,621) (1) (8,622) (26,349) — (26,349) (29,660) (4) (29,664) Time deposits and other time liabilities (254,633) (7,764) (262,397) (369,048) (8,560) (377,608) (370,206) (15,528) (385,734) Interbank borrowings (55,541) — (55,541) (81,557) — (81,557) (69,054) (206) (69,260) Debt instruments issued (200,911) (129,539) (330,450) (212,346) (130,127) (342,473) (199,420) (122,832) (322,252) Other financial liabilities (215) — (215) (501) — (501) (752) — (752) Lease obligations (4,923) 4 (4,919) (5,034) (92) (5,126) — — — Other Interest expense (84) (7,543) (7,627) (79) (3,227) (3,306) (397) (4,292) (4,689) Gain (loss) from hedge accounting (*) 33,376 — 33,376 16,099 — 16,099 10,374 — 10,374 Totals (538,082) (145,155) (683,237) (730,996) (142,226) (873,222) (708,651) (143,003) (851,654) (1) The inflation indexation adjustment is the result of changes in the Unidades de Fomento (“UF”). The UF is an inflation-index Chilean monetary unit with a value in Chilean pesos that changes daily to reflect changes in the Official Consumer Price Index (“CPI”) of the Instituto Nacional de Estadísticas (the Chilean National Institute of Statistics) for the previous month. The effect of any changes in the nominal peso value of our UF-denominated interest earning assets and interest bearing liabilities is reflected in our results of operations as an increase (or decrease, in the event of deflation) in interest income and expense respectively. (*) The mark to market adjustments are presented in this line for hedging derivatives used in hedging of assets except in the case of foreign currency hedges and cash flow hedges (cross-currency), their all-in mark to market adjustment is included in the foreign exchange gain (losses) (see Note 28 “Net foreign exchange income (losses)”). |
Fee and Commission Income and_2
Fee and Commission Income and Expense (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [Abstract] | |
Services Rendered by the Bank and Its Subsidiaries and Correspond | This item comprises the financial income for the year corresponding to remunerations generated by the services rendered by the Bank and its subsidiaries and corresponds to the following items: For the years ended December 31, 2020 2019 2018 MCh$ MCh$ MCh$ Fees and commissions from lines of credits and overdrafts 1,990 1,553 5,292 Fees and commissions from guarantees and letters of credit 20,043 15,147 15,317 Fees and commissions from card services 58,359 75,574 72,932 Fees and commissions from accounts management 12,438 15,406 11,512 Fees and commissions from collections and payments 24,419 23,921 20,359 Fees and commissions from brokerage and securities management 9,365 9,844 10,966 Fees and commissions from asset management 23,086 25,845 24,718 Compensation for insurance brokerage 30,097 35,783 36,693 Investment banking and advisory fees 7,471 20,657 19,403 Fees and commissions from student loans ceded 5,639 5,735 5,300 Commissions on loan transactions 742 893 651 Commissions for mortgage loans 39 1,300 1,486 Other fees from services rendered 6,838 10,321 10,982 Other commissions earned 3,852 2,217 2,345 Totals 204,378 244,196 237,956 |
Summary of Expenses for Commissions Accrued in the Year for the Operations | This item includes expenses for commissions accrued during the year from operations, and corresponds to the following items: For the years ended December 31, 2020 2019 2018 MCh$ MCh$ MCh$ Compensation for cards transactions (38,822) (55,232) (35,676) Fees and commissions for securities transactions (4,660) (2,716) (2,963) Commissions paid for foreign trade transactions (2,438) (2,300) (2,550) Commissions paid for customer loyalty program benefits (11,082) (3,725) (2,607) Commissions paid for services to customers management (1,808) (3,905) (3,455) Other commissions paid (4,569) (1,914) (4,576) Totals (63,379) (69,792) (51,827) |
The Income and Expenses for Commissions Generated by the Segment | c) Below are the income and expenses for commissions generated by segment and the revenue recognition calendar for ordinary activities, for the year ended December 31, 2020 according to IFRS 15. Revenue recognition calendar Segments for ordinary activities Transferred Transferred at a point in Accrual Chile Colombia Total over time time model MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Fees and commissions from lines of credits and overdrafts 1,870 120 1,990 1,990 — — Fees and commissions from guarantees and letters of credit 16,077 3,966 20,043 20,043 — — Fees and commissions from card services 35,234 23,125 58,359 — 58,359 — Fees and commissions from accounts management 10,906 1,532 12,438 — 12,438 — Fees and commissions from collections and payments 12,244 12,175 24,419 — 10,500 13,919 Fees and commissions from brokerage and securities management 4,375 4,990 9,365 — 9,365 — Fees and commissions from asset management 12,641 10,445 23,086 — 23,086 — Compensation for insurance brokerage 29,025 1,072 30,097 — 1,072 29,025 Investment banking and advisory fees 7,237 234 7,471 223 7,248 — Fees and commissions from student loans ceded 5,639 — 5,639 — 5,639 — Commissions on loan transactions 616 126 742 — 742 — Commissions for mortgage loans 39 — 39 — 39 — Other commissions earned 6,371 4,319 10,690 — 10,690 — Totals 142,274 62,104 204,378 22,256 139,178 42,944 Revenue recognition calendar Segments for ordinary activities Transferred Transferred at a point in Accrual Chile Colombia Total over time time model MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Compensation for cards transactions (17,687) (21,135) (38,822) — (38,822) — Fees and commissions for securities transactions (3,604) (1,056) (4,660) — (4,660) — Commissions paid for foreign trade transactions — — — — — — Commissions paid for customer loyalty program benefits — — — — — — Commissions paid for services to customers management — — — — — — Other commissions paid (12,843) (7,054) (19,897) — (19,897) — Totals (34,134) (29,245) (63,379) — (63,379) — |
Net Income (Expense) from Fin_2
Net Income (Expense) from Financial Operations (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [Abstract] | |
Schedule of Net Income (Expense) from Financial Operations in the Consolidated Statements of Income | Net income (expense) from financial operations in the Consolidated Statements of Income for the year is as follows: For the years ended December 31, 2020 2019 2018 MCh$ MCh$ MCh$ Trading instruments (securities) 23,696 17,287 2,527 Financial derivative contracts (trading) 40,714 77,040 152,732 Sale of loans and accounts receivable from customers (*) 6,476 14,588 1,602 Net gain on sale of financial instruments at fair value through other comprehensive income 58,092 35,489 13,765 Net result of ineffectiveness and discontinuation of hedge accounting (19,890) (2,597) — Others 1,799 1,827 2,129 Totals 110,887 143,634 172,755 (*) See details Note 10, letter d. |
Net Foreign Exchange Gain (Lo_2
Net Foreign Exchange Gain (Loss) (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [Abstract] | |
Schedule of Net Foreign Exchange Gains (Losses) | This item includes the income earned from foreign currency trading, differences arising from converting monetary items in a foreign currency to the functional currency, and those generated by non-monetary assets in foreign currency at the time of their disposal. Net foreign exchange gains (losses) details are as follows: For the years ended December 31, 2020 2019 2018 MCh$ MCh$ MCh$ Net foreign exchange gain (loss) Gain (loss) on net foreign currency exchange positions (50,822) 37,404 (64,278) Other foreign currency exchange gains (losses) 2,651 4,128 5,421 Subtotals (48,171) 41,532 (58,857) Net exchange rate adjustments gain (loss) Adjustments for loans and accounts receivable from customers (538) 702 93 Adjustment for investment instruments — — 105 Adjustment for other assets and liabilities (4) 2 (322) Net gain (loss) from hedge accounting (25,751) (14,610) 41,016 Subtotals (26,293) (13,906) 40,892 Totals (74,464) 27,626 (17,965) |
Provisions for Impairment of _2
Provisions for Impairment of Financial Assets (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [Abstract] | |
Schedule of Changes in Provision for Loan Losses Recorded on the Income | The movement registered in income for the year related to allowances and impairment due to credit risk, for the year ended December 31, 2020 and 2019, is summarized as follows: Financial Financial Interbank Loans and accounts receivable from customers at amortized cost instruments at instruments at Contingent 2020 loans Commercial Mortgage Consumer FVTOCI amortized cost loans Totals MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Loss for provisions established (10) (541,857) (27,516) (223,664) (250) (86) (16,366) (809,749) Income for provisions released 218 173,955 9,667 86,312 1,649 9 10,861 282,671 Recovery of loans previously charged-off — 25,511 2,558 32,779 — 60,848 Net charge to income 208 (342,391) (15,291) (104,573) 1,399 (77) (5,505) (466,230) Financial Financial Interbank Loans and accounts receivable from customers at amortized cost instruments at instruments at Contingent 2019 loans Commercial Mortgage Consumer FVTOCI amortized cost loans Totals MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Loss for provisions established (507) (423,043) (35,031) (279,002) (2,223) (9) (25,577) (765,392) Income for provisions released 765 178,243 9,102 89,247 19 — 46,673 324,049 Recovery of loans previously charged-off — 22,213 2,791 33,661 — — — 58,665 Net charge to income 258 (222,587) (23,138) (156,094) (2,204) (9) 21,096 (382,678) Financial Financial Interbank Loans and accounts receivable from customers at amortized cost instruments at instruments at Contingent 2018 loans Commercial Mortgage Consumer FVTOCI amortized cost loans Totals MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Loss for provisions established (344) (634,886) (78,185) (562,620) (25) — (14,511) (1,290,571) (*) Income for provisions released 131 474,192 78,873 380,294 411 50 28,354 962,305 (*) Recovery of loans previously charged-off — 19,921 2,588 25,959 — — — 48,468 Net charge to income (213) (140,773) 3,276 (156,367) 386 50 13,843 (279,798) (*) For the years ended December 31, 2020 2019 2018 MCh$ MCh$ MCh$ Charge to income for provisions established 809,749 765,392 1,290,571 Credit to income for provisions used (282,671) (324,049) (962,305) 527,078 441,343 328,266 |
Schedule of Established and Released Provision Amounts | The detail by type of loans, analyzed collectively and individually, which were constituted and released by way of provision, is as follows: As of December 31, 2020 Note Provision established Provision released Totals MCh$ MCh$ MCh$ Commercial (541,857) 173,955 (367,902) Mortgage (27,516) 9,667 (17,849) Consumer (223,664) 86,312 (137,352) Subtotals 10 (793,037) 269,934 (523,103) Interbank loans, net 9 (10) 218 208 Totals (793,047) 270,152 (522,895) As of December 31, 2019 Note Provision established Provision released Totals MCh$ MCh$ MCh$ Commercial (423,043) 178,243 (244,800) Mortgage (35,031) 9,102 (25,929) Consumer (279,002) 89,247 (189,755) Subtotals 10 (737,076) 276,592 (460,484) Interbank loans, net 9 (507) 765 258 Totals (737,583) 277,357 (460,226) As of December 31, 2018 Provisions established Note Provision established Provision released Totals MCh$ MCh$ MCh$ Commercial (634,886) 474,192 (160,694) Mortgage (78,185) 78,873 688 Consumer (562,620) 380,294 (182,326) Subtotals 10 (1,275,691) 933,359 (342,332) Interbank loans, net 9 (344) 131 (213) Totals (1,276,035) 933,490 (342,545) |
Personnel Salaries and Expens_2
Personnel Salaries and Expenses (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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Schedule of Personnel Salaries and Expenses | For the years ended December 31, 2020 2019 2018 MCh$ MCh$ MCh$ Personnel compensation (185,677) (181,431) (176,083) Bonuses or gratifications (68,154) (82,129) (84,754) Compensation for years of service (17,292) (12,830) (12,477) Training expenses (931) (825) (804) Health and life insurance (2,831) (2,910) (2,590) Other personnel expenses (17,306) (18,084) (18,039) Totals (292,191) (298,209) (294,747) |
Administrative Expenses (Tables
Administrative Expenses (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [Abstract] | |
Schedule of Administration Expenses | For the years ended as of December 31, 2020, 2019 and 2018, the composition of this item is as follows: For the years ended December 31, 2020 2019 2018 MCh$ MCh$ MCh$ Administrative expenses (181,514) (177,919) (214,666) Maintenance and repair of fixed assets (32,637) (35,213) (31,673) Office lease — — (36,201) Equipment lease — — (2,925) Insurance payments (17,428) (16,389) (20,704) Office supplies (1,756) (1,679) (1,885) IT and communications expenses (53,839) (47,878) (43,667) Utilities and other services (3,931) (4,558) (4,443) Security and transportation of securities services (6,754) (5,232) (5,250) Representation and personnel travel expenses (1,263) (3,345) (3,612) Legal and notarial expenses (21,675) (20,384) (15,112) Technical report fees (13,180) (13,647) (11,626) Professional services fees (1,629) (1,656) (1,825) Fees for classification of titles — — (134) Fines (133) (1,947) (6,059) ATM maintenance and management services (2,460) (2,436) (2,630) Temporary external services (372) (1,032) (545) Postage and mailing expenses (1,752) (1,110) (1,341) Internal events (330) (648) (248) Commercial programs (706) (1,246) (1,242) Credit card management services (1,180) (4,051) (3,102) Other administrative expenses (20,489) (15,468) (20,442) Subcontracted services (28,539) (22,134) (22,303) Data processing (10,929) (12,990) (13,044) Products sales (865) — (275) Others (16,745) (9,144) (8,984) Board of Directors compensation (1,310) (1,350) (1,529) Marketing and advertising (11,914) (13,353) (14,384) Real estate taxes, contributions and levies (34,476) (34,125) (38,854) Real estate taxes (347) (286) (393) Patents (1,353) (1,206) (1,121) Other taxes (*) (23,660) (24,467) (29,324) Contributions to CMF (9,116) (8,166) (8,016) Totals (257,753) (248,881) (291,736) (*) These amounts primarily correspond to taxes other than income taxes that affect Itaú Corpbanca Colombia and its subsidiaries (Colombian segment). These are taxes on local financial transactions, ongoing performance of commercial activities or services, non-discountable value added tax and equity tax, among others. |
Depreciation, Amortization, a_2
Depreciation, Amortization, and Impairment (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [Abstract] | |
Schedule of Depreciation and Amortization Expenses | The amounts corresponding to charges to results for depreciation and amortization for the years ended December 31, 2020, 2019 and 2018, are detailed below: For the years ended December 31, Notes 2020 2019 2018 MCh$ MCh$ MCh$ Depreciation of property, plant and equipment 14 (21,826) (21,169) (20,659) Amortization of intangible assets 13 (74,625) (74,140) (66,158) Depreciation of assets for right to use of assets 15 (29,993) (31,857) — Totals (126,444) (127,166) (86,817) |
Schedule of Impairment losses | For the years ended December 31, 2020, 2019 and 2018, the composition of this item is as follows: For the years ended December 31, 2020 2019 2018 MCh$ MCh$ MCh$ Impairment of financial investments at FVOCI — — — Impairment of financial investments at amortized cost — — — Subtotal financial assets — — — Impairment of intangible assets (1) (38,849) — — Impairment of intangibles generated in business combinations (2) (113,911) — — Impairment of goodwill (3) (651,825) — — Impairment of property, plant and equipment (4) (5) (6) (10,294) (728) (28) Subtotal Non-financial assets (814,879) (728) (28) Totals (814,879) (728) (28) (1) Impairment of intangibles due to the integration of the systems in Chile: MCh$31,426 for systems and MCh$3,098 for projects. Also includes deterioration of systems and software in Colombia of MCh$4,325. (2) Impairment of intangibles generated in business combinations includes MCh$113,138 from Itaú Corpbanca Colombia and MCh$773 from Itaú Corredor de Seguros Colombia. (3) Impairment of Goodwill for MCh$412,356 in Chile CGU and MCh$239,469 in Colombia CGU. (4) Impairment of ATM equipment for MCh$24. (5) Impairment of fixed assets due to restructuring plan for MCh$867. (6) Impairment of improvements in leased properties due to restructuring due to the restructuring plan for MCh$9,403. |
Schedule of CGU Book Value | As of June 30, As of December 31, CGU 2020 2019 MCh$ MCh$ Chile 2,261,620 2,366,517 Colombia 942,653 959,821 (*) b.1) Impairment test results and impairment losses recognition as of June 30, 2020 i) Impairment test results As a consequence of the aforementioned impairment evaluation process, Management concludes that the recoverable amount and carrying amounts ratio of the CGUs as of June 30, 2020 is as follows: As of June 30, 2020 Main assumptions Chile Colombia Recoverable Amount / Carrying Value (%) |
Disclosure of impairment loss and reversal of impairment loss | Impairmente of intangible assets (1) CGU Chile CGU Colombia Totals MCh$ MCh$ MCh$ Goodwill impairment loss (412,356) (239,469) (651,825) Intangibles assets generated in a business combination impairment loss — (113,911) (113,911) Total impairment of Chile and Colombia CGUs (412,356) (353,380) (765,736) (1) As reported in 2016 in the original recognition of the business combination between Banco Itaú Chile and Corpbanca, as described in Note 1, resulted in a registration of a goodwill not deductible for income tax purposes, therefore, the recognition of impairment loss does not generate effects on tax results. On the other hand, the intangibles assets generated in the business combination had an associated deferred tax liability of Ch$34,547 million, which generated an impact on income tax results equivalent to that amount, by recognizing the impairment. Considering the above, the effect on income net of taxes generated by the recognition of the impairment loss amounts to Ch$731,189 million, distributed between Ch$720,951 million attributable to the owners of the Bank and Ch$10,238 million attributable to non-controlling interest . |
Disclosure of reconciliation of changes in goodwill | Goodwill Chile CGU Colombia CGU MCh$ MCh$ Opening balances as of January 1, 2020 904,868 235,159 Exchange differences — 4,310 Impairment (1) (412,356) (239,469) Ending balances as of December 31, 2020 492,512 — (1) Goodwill generated by the acquisition of a business combination (Colombia) is expressed in the functional currency of the aforementioned business (Colombian peso), converted at the closing exchange rate (exchange rate COP to Ch$ for the purpose of accounting recognition in Chile) in accordance with IAS 21 "Effects of Changes in Exchange Rates of the Foreign Currency" (see Note 13). Figures presented as of June 30, 2020 have been adjusted to their recoverable amount, recognizing an impairment loss in accordance with the aforementioned information. |
Schedule of Assumptions Used in Calculating the Recoverable Amount | The key assumptions used in calculating the recoverable amount, defined as those to which the calculation is most sensitive, are presented below: As of June 30, 2020 2020 Chile Colombia Perpetuity rate (%) 5.20 6.50 Projected inflation rate (%) 3.00 3.00 Discount rate (%) 10.40 12.31 Loans growth (%) 5.67 - 7.41 6.25 - 8.82 Solvency index limit (%) 10.81 - 12.12 10.00 - 11.70 |
Schedule of Impairment Assessment Process | As a result of the impairment test performed, Management concludes that the recoverable amount of the CGUs exceeds their carrying amount, as shown in the following table: As of December 31, 2020 2019 Chile Colombia Chile Colombia Recoverable Amount / Carrying Value (%) 137.80 — 121.38 107.09 |
Schedule of Assumptions Used in Calculating the Recoverable Amount | The key assumptions used in calculating recoverable amount, defined as those variables to which the calculation is more sensitive, are presented below: As of December 31, 2020 2019 Chile Colombia Chile Colombia Perpetuity rate (%) 5.20 — 5.20 6.50 Projected inflation rate (*) (%) 3.00 — 3.00 3.00 Discount rate (%) 9.50 — 10.00 11.30 Loans growth (%) 7.00 – 10.00 — 9.05 – 10.28 9.70 – 10.30 Solvency index limit (%) 12.77– 13.11 — 11.40 – 12.40 10.60 – 14.00 |
Schedule of Cash Flows | The following table shows the effect of considering the flows and the discount rate before taxes. As of December 31, 2020 2019 Chile Colombia Chile Colombia Discount rates (%) 10.52 — Recoverable amount/Carrying value (%) 158.32 — |
Other Operating Income and Ex_2
Other Operating Income and Expenses (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [Abstract] | |
Schedule of Other Operating Income | The detail of other operating income is as follows: For the years ended December 31, 2020 2019 2018 MCh$ MCh$ MCh$ Income from assets received in lieu of payment Gain on sales of assets received in lieu of payment 3,287 5,449 8,562 Other income 30,622 13,163 30 Subtotals 33,909 18,612 8,592 Other income Compensations from insurance companies 693 6 53 Lease contracts related income 819 280 724 Gain on sale of property, plant and equipment 14 2,248 5,519 Recovery of leased assets 59 73 1,349 Other leasing transactions operating income, subsidiaries 4,604 3,020 2,158 Gain on sale of leased assets 688 1,914 1,447 Other operating income 933 432 199 Revenue from insurance companies agreement 1,537 4,538 3,626 Income from recovery of foreign expenses 895 747 620 Recoveries from expenses provisions 15,739 7,243 1,166 Other income 5,688 5,859 1,203 Subtotals 31,669 26,360 18,064 Totals 65,578 44,972 26,656 |
Schedule of Other Operating Expenses | During the years ended December 31, 2020, 2019 and 2018, the Bank presents other operating expenses according to the following detail : For the years ended December 31, 2020 2019 2018 MCh$ MCh$ MCh$ Provisions for assets received in lieu of payment (4,006) (18,062) (16,132) Maintenance expenses for assets received in lieu of payment (1,086) (1,663) (1,301) Subtotals (5,092) (19,725) (17,433) Provisions for contingencies Other provisions for contingencies (3,119) (507) (1,998) Subtotals (3,119) (507) (1,998) Other expenses Loss on sale of property, plant and equipment (145) (655) (307) Credit card loyalty point benefits expenses — — (14,306) Restructuring costs (7,190) — — Operating loss expenses (5,219) (17,468) (10,589) Insurance expense (law 20,027) (36,075) (802) (622) Provision expense for recovered leased assets (1,191) (3,105) (4,170) Expenses loss on sale of assets (16,262) (9,386) — Banking expenses (2,754) (1,932) (2,450) Fines and penalties (4,502) (2,454) (13,110) Loss on damaged assets — (696) (2,311) Other expenses (8,962) (4,819) (903) Subtotals (82,300) (41,317) (48,768) Totals (90,511) (61,549) (68,199) |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [Abstract] | |
Schedule of Loan Granted to Related Parties | As of December 31, 2020 and 2019, the loans granted to related persons are detailed below : As of December 31, 2020 As of December 31, 2019 Productive Investment Productive Investment companies companies Individuals companies companies Individuals MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Loans and accounts receivable from customers Commercial loans 150,796 10,037 6,517 109,840 11,910 5,054 Mortgage loans — — 30,124 — — 29,419 Consumer loans — — 7,189 — — 8,987 Gross loans and accounts receivable from customers 150,796 10,037 43,830 109,840 11,910 43,460 Allowance for loan losses (6,333) (885) (348) (1,705) (134) (283) Loans and receivables to customers, net 144,463 9,152 43,482 108,135 11,776 43,177 |
Schedule of Other Transactions with Related Parties | Below are the balances as of December 31, 2020 and 2019, for transactions with related parties and the impact on results for the years ended December 31, 2020 and 2019: As of and for the year ended December 31, 2020 Balances receivable Effect on income (loss) Name or Corporate Name Description (payable) Income Expense MCh$ MCh$ MCh$ Adexus S.A. Data transmission services — — (8) Bcycle Latam SPA Administrative consulting — — (2,165) CAI Gestion Inmobiliaria S.A. Department stores — — — Combanc S.A. Data transmission services — — (472) Comder Contraparte Central S.A Banking services — — (826) Compañía Chilena de Televisión S.A. Tv broadcasting services — — (8) Corp Group Holding Inversiones Limitada Advisory services — — (537) Corp Imagen y diseños S.A. Marketing — — — Corp Research S.A. Advisory services — — — Hotel Corporation of Chile S.A. Hotel, events — — (8) Inmetrics Chile S.A Other services — — (1,470) Inmobiliaria Edificio Corpgroup S.A. Office lease and building fees (*) (14,175) — (4,693) Inmobiliaria Gabriela S.A Other services (708) — (128) Inversiones Corp Group Interhold Ltda. Administrative consulting — — (2,613) Itaú Chile Cía. de Seguros de Vida S.A. Life insurance — — — Itaú Chile Inv. Serv. y Administración S.A. Leases (*) (198) — (1,143) Itaú Unibanco Business management reimbursement 1,549 2,213 — Operadora de Tarjeta de Crédito Nexus S.A. Credit card management — — (3,319) Pulso Editorial S.A. Publishing services — — (24) Redbanc S.A. ATM management — — (3,094) SMU S.A., Rendic Hnos. S.A. Lease of ATM (Note 17) 991 — (2,388) Transbank S.A. Credit card management — — (13,177) These transactions were carried out at normal market prices prevailing on the date of the transactions. Note 34 - Related Party Transactions, continued As of and for the year ended December 31, 2019 Balances receivable Effect on income (loss) Name or Corporate Name Description (payable) Income Expense MCh$ MCh$ MCh$ Adexus S.A. Data transmission services — — (567) Bcycle Latam SPA Administrative consulting — — (1,518) CAI Gestion Inmobiliaria S.A. Department stores — — (3) Combanc S.A. Data transmission services — — (366) Comder Contraparte Central S.A Banking services — — (910) Compañía Chilena de Televisión S.A. Tv broadcasting services — — (47) Corp Group Holding Inversiones Limitada Advisory services — — (382) Corp Imagen y diseños S.A. Marketing — — (101) Corp Research S.A. Advisory services — — (474) Hotel Corporation of Chile S.A. Hotel, events — — (39) Inmobiliaria Edificio Corpgroup S.A. Office lease and building fees (*) (15,625) — (1,994) Inmobiliaria Gabriela S.A Other services (809) — (121) Inversiones Corp Group Interhold Ltda. Administrative consulting — — (2,537) Itaú Chile Cía. de Seguros de Vida S.A. Life insurance — 46 (248) Itaú Chile Inv. Serv. y Administración S.A. Leases (*) (441) — (220) Itaú Unibanco Business management reimbursement 349 2,051 — Operadora de Tarjeta de Crédito Nexus S.A. Credit card management — — (3,037) Pulso Editorial S.A. Publishing services — — (23) Redbanc S.A. ATM management — — (3,388) SMU S.A., Rendic Hnos. S.A. Lease of ATM (Note 17) 3,379 — (2,319) Transbank S.A. Credit card management — — (14,208) (*) Note 34 - Related Party Transactions, continued As of and for the year ended December 31, 2018 Balances receivable Effect on income (loss) Name or Corporate Name Description (payable) Income Expense MCh$ MCh$ MCh$ Adexus S.A. Data transmission services — — (254) Bcycle Latam SPA Administrative consulting — — (4,048) Bolsa de Comercio de Santiago Other services — — (204) CAI Gestion Inmobiliaria S.A. Department stores — — (103) Combanc S.A. Data transmission services — — (350) Comder Contraparte Central S.A Banking services — — (902) Corp Group Holding Inversiones Limitada Advisory services — — (408) Corp Imagen y diseños S.A. Marketing — — (99) Corp Research S.A. Advisory services — — (463) Everis Chile S.A. Advisory services — — (906) Hotel Corporation of Chile S.A. Hotel, events — — (94) Inmobiliaria Edificio Corpgroup S.A. Office lease and building fees — — (4,693) Instituto de Estudios Bancarios Guillermo Subercaseaux Education services — — (121) Inversiones Corp Group Interhold Ltda. Administrative consulting — — (2,476) Itaú Chile Cía. de Seguros de Vida S.A. Life insurance — 93 (706) Itaú Chile Inv. Serv. y Administración S.A. Leases — 204 (141) Operadora de Tarjeta de Crédito Nexus S.A. Credit card management — — (2,909) Pulso Editorial S.A Publishing services — — (471) Redbanc S.A. ATM management — — (3,002) SMU S.A., Rendic Hnos. S.A. Lease of ATM (Note 17) 5,698 — (2,262) Transbank S.A. Credit card management — — (15,469) VIP Asesorias y Servicios Integrales Ltda. Advisory services — — (129) |
Schedule of Donations | c) Donations For the years ended December 31, Name or corporate name Description 2020 2019 2018 MCh$ MCh$ MCh$ Fundación Corpgroup Centro Cultural Donations 1,556 1,325 1,225 Fundación Descúbreme Donations 235 194 Fundación Itaú Donations 196 170 157 |
Schedule of Other Assets and Liabilities with Related Parties | As of December 31, 2020 2019 MCh$ MCh$ ASSETS 34,416 28,474 Derivative financial instruments 33,875 27,458 Other assets 541 1,016 LIABILITIES 447,306 420,273 Derivative financial instruments 2,778 1,565 Current accounts and demand deposits 179,067 34,416 Time deposits and saving accounts 239,709 354,794 Other liabilities 25,752 29,498 |
Schedule of Results of Transactions with Related Parties | For the years ended December 31, 2020 2019 2018 Type of recognized income or expense Income Expenses Income Expenses Income Expenses MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Interest and readjustments income (expenses) 8,532 (4,955) 11,269 (7,328) 3,748 (2,970) Fee and commissions income and (expenses) 504 — 3,232 — 829 — Net income (loss) from financial operations 26,636 (10,033) 2,585 (888) 1,146 (501) Operational support related income 500 — 901 — 1,075 — Other income and (expenses) 211 (310) 207 (327) 84 (222) Totals 36,383 (15,298) 18,194 (8,543) 6,882 (3,693) |
Schedule of Payments to Board of Directors and Key Management Personnel | Compensation received by key personnel of Management as follow: As of December 31, 2020 2019 2018 MCh$ MCh$ MCh$ Short-term employee benefits 31,868 31,364 31,892 Post-employment benefits — — — Other long-term benefits — — — Compensation for termination of contract 931 799 1,337 Totals 32,799 32,163 33,229 |
Schedule of Conformation of Key Personnel | As of December 31, 2020 and 2019, the headcount of the Bank's key staff is composed as follows: Number of executives As of December 31, Position 2020 2019 Board Member 14 14 Chief Executive Officer 10 10 Corporate Director 24 25 Area Manager 146 162 Manager 128 143 |
Schedule of Transactions with Key Personnel | The next transactions has been realized during the years ended December 31, 2020 and 2019: As of December 31, 2020 2019 MCh$ MCh$ Credits cards 115 Consumer loans 389 Commercial loans 534 Mortgage loans 366 |
Fair Value of Financial Asset_2
Fair Value of Financial Assets and Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [Abstract] | |
Schedule of Determination of the Fair Value of Financial Instruments | Determination of the fair value as of December 31, 2020 and 2019 As of December 31, 2020 Estimated fair value Book value Recurring Non-recurring (*) MCh$ MCh$ MCh$ ASSETS Cash and deposits in banks 3,089,072 — 3,089,072 Cash items in process of collection 173,192 — 173,192 Financial instruments at fair value through profit or loss 582,710 582,710 — Financial instruments at fair value through other comprehensive income 3,970,899 3,970,899 — Loans and accounts receivable at amortized cost 21,576,108 — 22,767,597 Financial instruments at amortized cost 111,542 — 110,608 Investments under resale agreements 105,580 — 105,580 Financial derivative contracts 3,982,803 3,982,803 — Interbank loans, net 7,121 — 7,121 Totals 33,599,027 8,536,412 26,253,170 LIABILITIES Deposits and other demand liabilities 6,197,406 — 6,197,406 Cash in process of being cleared 154,232 — 154,232 Obligations under repurchase agreements 638,851 — 638,851 Time deposits and other time liabilities 11,433,064 — 11,574,924 Financial derivative contracts 3,673,591 3,673,591 — Interbank borrowings 3,798,978 — 3,794,375 Debt instruments issued 6,204,856 — 7,330,126 Lease contract liabilities 151,885 — 164,304 Other financial liabilities 13,123 — 13,123 Totals 32,265,986 3,673,591 29,867,341 (*) Non-recurring items correspond to those line items that are carried at cost, but their corresponding fair value has been estimated for disclosure purposes only. Note 35 - Fair Value of Financial Assets and Liabilities, continued As of December 31, 2019 Estimated fair value Book value Recurring Non-recurring MCh$ MCh$ MCh$ ASSETS Cash and deposits in banks 1,009,681 — 1,009,681 Cash items in process of collection 231,305 — 231,305 Financial instruments at fair value through profit or loss 183,702 183,702 — Financial instruments at fair value through other comprehensive income 3,598,890 3,598,890 — Loans and accounts receivable at amortized cost 22,254,697 — 23,313,453 Financial instruments at amortized cost 115,658 — 114,175 Investments under resale agreements 75,975 — 75,975 Financial derivative contracts 3,154,957 3,154,957 — Interbank loans, net 56,396 — 56,396 Totals 30,681,261 6,937,549 24,800,985 LIABILITIES Deposits and other demand liabilities 4,873,448 — 4,873,448 Cash in process of being cleared 164,573 — 164,573 Obligations under repurchase agreements 559,457 — 559,457 Time deposits and other time liabilities 11,620,187 — 11,692,076 Financial derivative contracts 2,938,034 2,938,034 — Interbank borrowings 2,646,756 — 2,646,176 Debt instruments issued 6,408,356 — 7,244,551 Lease contract liabilities 172,924 — 175,263 Other financial liabilities 12,966 — 12,966 Totals 29,396,701 2,938,034 27,368,510 |
Schedule of Fair Value Measurements of Assets and Liabilities Only for Disclosure Purposes (Non-recurring) | Fair Value Measurements of assets and liabilities only for disclosure purposes (non-recurring) : As of December 31, Non-recurring fair value measurement 2020 2019 MCh$ MCh$ ASSETS Cash and deposits in banks 3,089,072 1,009,681 Cash items in process of collection 173,192 231,305 Loans and accounts receivable at amortized cost 22,767,597 23,313,453 Investments under resale agreements 105,580 75,975 Interbank loans, net 7,121 56,396 Financial instruments at amortized cost 110,608 114,175 Totals 26,253,170 24,800,985 LIABILITIES Deposits and other demand liabilities 6,197,406 4,873,448 Cash in process of being cleared 154,232 164,573 Obligations under repurchase agreements 638,851 559,457 Time deposits and other time liabilities 11,574,924 11,692,076 Interbank borrowings 3,794,375 2,646,176 Debt issued 7,330,126 7,244,551 Lease contract liabilities 164,304 175,263 Other financial obligations 13,123 12,966 Totals 29,867,341 27,368,510 |
Schedule of Fair Value Measurement of Financial Assets and Liabilities (Recurring) | Fair Value measurement of financial assets and liabilities (recurring) -: As of December 31, Fair value measurement of recurring items 2020 2019 MCh$ MCh$ ASSETS Financial instruments at fair value through profit or loss 582,710 183,702 Central Bank of Chile and Government securities 108,042 80,898 Other securities issued in Chile 271 23,123 Foreign government and Central Bank instruments 432,178 67,088 Other instruments issued abroad 4,861 4,390 Investments in mutual funds 35,017 5,903 Other investments at FVTPL 2,341 2,300 Financial instruments at fair value through other comprehensive income 3,970,899 3,598,890 Central Bank of Chile and Government securities 3,056,179 2,174,278 Other securities issued in Chile 296,665 536,576 Foreign government and Central Bank instruments 217,185 165,927 Other instruments issued abroad 394,691 716,423 Other investments at FVOCI 6,179 5,686 Financial derivative contracts 3,982,803 3,154,957 Forwards 472,208 454,300 Swaps 3,509,315 2,696,635 Call options 195 3,805 Put options 1,085 217 Totals 8,536,412 6,937,549 LIABILITIES Financial derivative contracts 3,673,591 2,938,034 Forwards 433,863 504,275 Swaps 3,238,371 2,431,436 Call options 271 1,758 Put options 1,086 565 Totals 3,673,591 2,938,034 |
Schedule of Financial Derivative Instruments | These adjustments are recorded periodically in the financial statements. As of December 2020, 2019 and 2018, the portfolio of derivative contracts in both Chile and Colombia is detailed as follows: As of December 31, 2020 2019 2018 CVA DVA CVA DVA CVA DVA MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Derivatives held for hedging — — (2) 1 — — Fair value hedge — — — — — — Currency forwards — — — — — — Currency swaps — — — — — — Interest rate swaps — — — — — — Cash flow hedge — — (2) 1 — — Currency forwards — — (2) 1 — — Currency swaps — — — — — — Interest rate swaps — — — — — — Hedge of net investments in a foreign operation — — — — — — Currency forwards — — — — — — Currency swaps — — — — — — Interest rate swaps — — — — — — Derivatives held for trading (40,971) 589 (28,172) 446 (37,821) 340 Currency forwards (443) 205 (341) 123 (127) 65 Currency swaps (36,363) 37 (4,642) 295 (31,167) 127 Interest rate swaps (4,165) 347 (23,189) 28 (6,527) 148 Call currency options — — — — — — Put currency options — — — — — — Total financial derivative contracts (40,971) 589 (28,174) 447 (37,821) 340 |
Schedule of Impacts on the Portfolio of a Recalibration | The table below summarizes the impacts on the portfolio of a recalibration of the models based on a stress scenario, recalibrating parameters with the shock incorporated. As of December 31, 2020 As of December 31, 2019 Forward Forward Americano Basis TAB Basis TAB Americano Basis TAB Basis TAB Impact calibration USD-CLP CLP CLF USD-CLP CLP CLF MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Volatility exchange rate USD-CLP — — — — — — TAB 30 — 76 — — 98 — TAB 90 — 1 — — 4 — TAB 180 — 33 15 — 39 18 TAB 360 — — 3 — — 4 Totals — 110 18 — 141 22 |
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis | The following table classifies assets and liabilities measured at fair value on a recurring basis, in accordance with the fair value hierarchy established in IFRS 13, as of December 31, 2020 and 2019 : As of December 31, 2020 Market value of the Other observable Non-observable Measurement at fair value of instruments asset for identified assets significant inputs significant inputs on a recurring basis using Fair value (Level 1) (Level 2) (Level 3) MCh$ MCh$ MCh$ MCh$ ASSETS Financial instruments at fair value through profit or loss 582,710 575,237 7,473 — Central Bank of Chile and Government securities 108,042 108,042 — — Other securities issued locally 271 — 271 — Foreign government and Central Bank instruments 432,178 432,178 — — Other securities issued abroad 4,861 — 4,861 — Investments in mutual funds 35,017 35,017 — — Other investments at FVTPL 2,341 — 2,341 — Financial instruments at fair value through other comprehensive income 3,970,899 3,608,717 362,182 — Central Bank of Chile and Government securities 3,056,179 3,056,179 — — Other securities issued locally 296,665 — 296,665 — Foreign government and Central Bank instruments 217,185 217,185 — — Other securities issued abroad 394,691 335,353 59,338 — Other investments at FVOCI 6,179 — 6,179 — Financial derivative contracts 3,982,803 — 3,955,538 27,265 Forwards 472,208 — 468,632 3,576 Swaps 3,509,315 — 3,485,626 23,689 Call options 195 — 195 — Put options 1,085 — 1,085 — Totals 8,536,412 4,183,954 4,325,193 27,265 LIABILITIES Financial derivative contracts 3,673,591 — 3,672,751 840 Forwards 433,863 — 433,747 116 Swaps 3,238,371 — 3,237,647 724 Call options 271 — 271 — Put options 1,086 — 1,086 — Totals 3,673,591 — 3,672,751 840 Note 35 - Fair Value of Financial Assets and Liabilities, continued As of December 31, 2019 Market value of the Other observable Non-observable Measurement at fair value of instruments asset for identified assets significant inputs significant inputs on a recurring basis using Fair value (Level 1) (Level 2) (Level 3) MCh$ MCh$ MCh$ MCh$ ASSETS Financial instruments at fair value through profit or loss 183,702 177,009 6,693 — Central Bank of Chile and Government securities 80,898 80,898 — — Other securities issued locally 23,123 23,120 3 — Foreign government and Central Bank instruments 67,088 67,088 — — Other securities issued abroad 4,390 — 4,390 — Investments in mutual funds 5,903 5,903 — — Other investments at FVTPL 2,300 — 2,300 — Financial instruments at fair value through other comprehensive income 3,598,890 3,009,607 589,283 — Central Bank of Chile and Government securities 2,174,278 2,174,278 — — Other securities issued locally 536,576 — 536,576 — Foreign government and Central Bank instruments 165,927 165,927 — — Other securities issued abroad 716,423 669,402 47,021 — Other investments at FVOCI 5,686 — 5,686 — Financial derivative contracts 3,154,957 — 3,127,525 27,432 Forwards 454,299 — 449,239 5,060 Swaps 2,696,636 — 2,674,264 22,372 Call options 3,805 — 3,805 — Put options 217 — 217 — Totals 6,937,549 3,186,616 3,723,501 27,432 LIABILITIES Financial derivative contracts 2,938,034 — 2,936,915 1,119 Forwards 504,275 — 504,094 Swaps 2,431,436 — 2,430,498 Call options 1,758 — 1,758 — Put options 565 — — Totals 2,938,034 — 2,936,915 1,119 |
Schedule of Reconciliation by Fair Value Heirarchy | As of December 31, 2020 and 2019 no transfers were observed between Level 1 and Level 2, as shown below As of December 31, Measurement at fair value of instruments 2020 that are valued recurrently Fair value Level 1 to 2 Level 2 to 1 MCh$ MCh$ MCh$ ASSETS Financial instruments at fair value through profit or loss 582,710 — — Financial instruments at fair value through other comprehensive income 3,970,899 — — Financial derivative contracts 3,982,803 — — Totals 8,536,412 — — LIABILITIES Financial derivative contracts 3,673,591 — — Totals 3,673,591 — — As of December 31, Measurement at fair value of instruments 2019 that are valued recurrently Fair value Level 1 to 2 Level 2 to 1 MCh$ MCh$ MCh$ ASSETS Financial instruments at fair value through profit or loss 183,702 — — Financial instruments at fair value through other comprehensive income 3,598,890 — — Financial derivative contracts 3,154,957 — — Totals 6,937,549 — — LIABILITIES Financial derivative contracts 2,938,034 — — Totals 2,938,034 — — |
Schedule of Reconciliation of Assets and Liabilities | The following table reconciles assets and liabilities measured at fair value on a recurring basis as of December 31, 2020 and 2019. As of December 31, 2020 Gain (loss) Gain (loss) Purchases, Transfers Opening recognized in recognized in sales and from level 1 Ending Level 3 reconciliation balance profit or loss equity agreements or level 2 balance MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ ASSETS Financial derivative contracts 27,432 28,603 — (28,770) — 27,265 Forwards 5,060 23,803 — (25,287) — 3,576 Swaps 22,372 4,800 — (3,483) — 23,689 Call options — — — — — — Put options — — — — — — Totals 27,432 28,603 — (28,770) — 27,265 LIABILITIES Financial derivative contracts 1,119 725 — (1,004) — 840 Forwards 181 2,397 — (2,462) — 116 Swaps 938 (1,672) — 1,458 — 724 Call options — — — — — — Put options — — — — — — Totals 1,119 725 — (1,004) — 840 Note 35 - Fair Value of Financial Assets and Liabilities, continued As of December 31, 2019 Gain (loss) Gain (loss) Purchases, Transfers Opening recognized in recognized in sales and from level 1 Ending Level 3 reconciliation balance profit or loss equity agreements or level 2 balance MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ ASSETS Financial derivative contracts 27,156 17,328 — (17,052) — 27,432 Forwards 618 12,398 — (7,956) — 5,060 Swaps 26,538 4,930 — (9,096) — 22,372 Call options — — — — — — Put options — — — — — — Totals 27,156 17,328 — (17,052) — 27,432 LIABILITIES Financial derivative contracts 569 3,208 — (2,658) — 1,119 Forwards 49 2,565 — (2,433) — 181 Swaps 520 643 — (225) — 938 Call options — — — — — — Put options — — — — — — Totals 569 3,208 — (2,658) — 1,119 |
Schedule of Classified Assets and Liabilities Measured at Fair Value on a Non-recurring Basis | The following table classifies assets and liabilities measured at fair value on a non-recurring basis, in accordance with the fair value hierarchy as of December 31, 2020 and 2019. As of December 31, 2020 Market value of the Other observable Non-observable Estimated fair asset for identified significant inputs significant inputs Measurement at fair value of items on a non-recurring basis value assets (Level 1) (Level 2) (Level 3) MCh$ MCh$ MCh$ MCh$ ASSETS Cash and deposits in banks 3,089,072 3,089,072 — — Cash items in process of collection 173,192 173,192 — — Loans and accounts receivable at amortized cost 22,767,597 — — 22,767,597 Financial instruments at amortized cost 110,608 110,608 — — Investments under resale agreements 105,580 105,580 — — Interbank loans, net 7,121 7,121 — — Totals 26,253,170 3,485,573 — 22,767,597 LIABILITIES Deposits and other demand liabilities 6,197,406 6,197,406 — — Cash in process of being cleared 154,232 154,232 — — Obligations under repurchase agreements 638,851 638,851 — — Time deposits and other time liabilities 11,574,924 — 11,574,924 — Interbank borrowings 3,794,375 3,794,375 — — Debt instruments issued 7,330,126 — 7,330,126 — Lease contract liabilities 164,304 — 164,304 — Other financial liabilities 13,123 13,123 — — Totals 29,867,341 10,797,987 19,069,354 — Note 35 - Fair Value of Financial Assets and Liabilities, continued As of December 31, 2019 Market value of the Other observable Non-observable Estimated fair asset for identified significant inputs significant inputs Measurement at fair value of items on a non-recurring basis value assets (Level 1) (Level 2) (Level 3) MCh$ MCh$ MCh$ MCh$ ASSETS Cash and deposits in banks 1,009,681 1,009,681 — — Cash items in process of collection 231,305 231,305 — — Investments under resale agreements 23,313,453 — — 23,313,453 Interbank loans, net 114,175 114,175 — — Loans and accounts receivable from customers, net 75,975 75,975 — — Held to maturity investments 56,396 56,396 191 191 Totals 24,800,985 1,487,532 191 23,313,644 LIABILITIES Deposits and other demand liabilities 4,873,448 4,873,448 — — Cash in process of being cleared 164,573 164,573 — — Obligations under repurchase agreements 559,457 559,457 — — Time deposits and other time liabilities 11,692,076 — 11,692,076 — Interbank borrowings 2,646,176 2,646,176 — — Debt instruments issued 7,244,551 — 7,244,551 — Lease contract liabilities 175,263 — 175,263 — Other financial liabilities 12,966 12,966 — — Totals 27,368,510 8,256,620 19,111,890 — |
Risk management (Tables)
Risk management (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [Abstract] | |
Summary of Details of Significant Increase in Credit Risk | Criteria used for Chile % of absolute increase PD ranges per in lifetime Type of portfolio Debtor category debtor category PD Stages Days of arrears to the end of the month A1, A2, A3 0.04 – 0.25% 0.13% Stage 1 Up to 29 days A4 2% 1.62% Stage 1 Up to 29 days Corporate A5 (*), A6 4.75 – 10% 3.52% Stage 1 Up to 29 days B1, B2, B3 15 - 45% 23.05% Stage 2 From 30 to 89 days B4, C1, C2, C3, C4, C5, C6 100% 100% Stage 3 90 days or more (*) Loans originated in A5 are considered Stage 1 at inception. Loans that were originated in a higher category and subsequently downgraded to A5 are considered Stage 2. Note 36 - Risk management, continued Days of arrears to the end of the month, probability of default (PD) and Type of portfolio Portfolio Stages qualitative considerations Stage 1 Up to 29 days CAE Stage 2 From 30 to 89 days or (difference Referential Life Time PD >=1.61 and difference PD Life Time at origination >= 0.13) combinated with a client with a extension and (with a protest or a debt increase in 25%) Stage 3 90 days or more Stage 1 Up to 29 days Condell / Restructured Condell Stage 2 (Condell) From 30 to 89 days or (difference Referential Life Time PD >=1.59 and difference PD Life Time at origination >= 0.04) combinated with a client with a extension and (with a protest or a debt increase) Stage 2 (Restructured Condell) From 30 to 89 days or (difference Referential Life Time PD >=1.47 and difference PD Life Time at origination >= 0.08) combinated with a client with a extension and (with a protest or a debt increase) Stage 3 90 days or more Stage 1 Up to 29 days Commercial/ Stage 2 (Commercial) From 30 to 89 days or (difference Referential Life Time PD >=1.71 and difference PD Life Time at origination >= 0.11) combinated with a client with a extension and (with a protest or a debt increase in 25%) Group Stage 2 (Rotative Commercial) From 30 to 89 days or (difference Referential Life Time PD >=2.25 and difference PD Life Time at origination >= 0.07) combinated with a client with a extension and (with a protest or a debt increase in 25%) Stage 3 90 days or more Stage 1 Up to 29 days Stage 2 (Consumer) From 30 to 89 days or (difference Referential Life Time PD >=2.08 and difference PD Life Time at origination >= 0.08) combinated with a client with a extension and (with a protest or a debt increase in 25%) Consumer/ Stage 2 (Renegotiated Consumer) From 30 to 89 days or (difference Referential Life Time PD >=1.79 and difference PD Life Time at origination >= 0.20) combinated with a client with a extension and (with a protest or a debt increase in 25%) Stage 2 (Rotative Consumer) From 30 to 89 days or (difference Referential Life Time PD >=2.46 and difference PD Life Time at origination >= 0.08) combinated with a client with a extension and (with a protest or a debt increase in 25%) Stage 3 90 days or more Stage 1 Up to 29 days Mortgage Stage 2 From 30 to 89 days or (difference Referential Life Time PD >=2.41 and difference PD Life Time at origination >= 0.20) combinated with a client with a extension and (with a protest or a debt increase in 25%) Stage 3 90 days or more The quantitative criteria is used to identify where an exposure has increased in credit risk and it is applied based on whether an increase in the lifetime PD since the recognition date exceeds the threshold set in absolute and relative terms. The following formulas are used to determine such thresholds: Relative comparison formula Threshold = Lifetime PD (at reporting date) - 1 Lifetime PD (at origination) Absolute comparison formula Threshold = Lifetime PD (at reporting date) – Lifetime PD (at origination) Note 36 - Risk management, continued Criteria used for Colombia % of absolute increase in % of relative increase Qualitative lifetime PD in lifetime PD indicators assessed Corporate portfolio Debt restructuring and increase in credit risk of other financial instruments Without information % 2,558.55 % Small company % 2,027.22 % Small company % 1,156.16 % Medium company % 1,181.62 % Medium company % 81.69 % Large company % 738.75 % Low default % 149.62 % Low default (Government and Financial) % 621.57 % Group portfolio Increase in credit risk of other financial instruments Leasing % 236.20 % Payroll deductible loan % 424.01 % Revolving line of credit % 221.72 % Overdraft limit % 2.29 % Credit card % 42.33 % Mortgage loan % 137.24 % Personal debt restructuring % 879.62 % Other loans % 286.72 % |
Summary of Principal Macroeconomic Indicators Included in Economic Scenarios | The table below summarizes the principal macroeconomic indicators included in the economic scenarios used as of December 31, 2020 until December 31, 2023 in the countries where the Bank and its subsidiaries operate and therefore are the countries that have a material impact on ECLs. Criteria for Chile 2021 2022 2023 Indicators Portfolio Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Unemployment rate Base scenario Range of upside scenarios Range of downside scenarios Consumer's price index (IPC) Base scenario 107.66 108.18 108.54 109.46 111.02 111.46 112.01 112.75 114.35 114.79 115.37 116.14 Range of upside scenarios 108.93 108.85 108.92 110.93 112.81 112.49 112.78 114.81 116.70 116.32 116.55 118.60 Range of downside scenarios 107.16 107.24 107.70 108.58 109.70 109.91 110.39 111.30 112.50 112.76 113.32 114.30 Interbank interest rate Base scenario Range of upside scenarios Range of downside scenarios Exchange Rate (USD/CLP) Base scenario 760.00 760.00 760.00 760.00 760.00 760.00 760.00 760.00 757.50 755.00 752.50 745.00 Range of upside scenarios 788.75 802.50 816.25 830.00 830.00 830.00 830.00 830.00 822.50 815.00 807.50 775.00 Range of downside scenarios 713.75 712.50 711.25 710.00 710.00 710.00 710.00 710.00 707.50 705.00 702.50 715.00 Note 36 - Risk management, continued Criteria for Colombia As of December 31, 2021 2022 2023 GDP growth Base scenario 1.45 3.54 3.29 Range of upside scenarios 1.85 4.64 4.39 Range of downside scenarios 0.35 2.44 2.19 Unemployment rates Base scenario 14.36 13.65 11.95 Range of upside scenarios 12.36 11.65 9.95 Range of downside scenarios 16.36 15.65 13.95 Benchmark interest rates Base scenario 2.00 3.50 4.50 Range of upside scenarios 3.25 4.75 5.00 Range of downside scenarios 1.25 2.00 3.50 currency exchange rate Base scenario 3,650 3,600 3,600 Range of upside scenarios 3,450 3,400 3,300 Range of downside scenarios 3,950 3,900 3,800 Consumer’s Price Index Base scenario 3.00 3.00 3.00 Range of upside scenarios 3.48 3.84 4.20 Range of downside scenarios 2.52 2.16 1.80 |
Summary of ECL Coverage of Loans and Accounts Receivable at Amortized Cost Subject to Significant Measurement Uncertainty | Set out below are the changes to ECL as of December 31, 2020 that would result from reasonably possible changes in these parameters from the actual assumptions used in the Bank’s economic variable assumptions as set forth in the tables above for Base scenarios, upside scenarios, and downside scenarios. ECL coverage of loans and accounts receivable at amortized cost subject to significant measurement uncertainty as of December 31, 2020 Chile Colombia MCh$ MCh$ Reported ECL 737,016 304,848 Loans and accounts receivable at amortized cost 18,250,479 4,367,502 Reported Coverage (Reported ECL/ loans and accounts receivable at amortized cost) % 4.04 6.98 Consensus upside scenario (Upside scenario for ECL/ loans and accounts receivable at amortized cost) % 3.95 6.70 Consensus central scenario (Base scenario for ECL/ loans and accounts receivable at amortized cost) % 4.01 6.96 Consensus downside scenario (Downside scenario for ECL/ loans and accounts receivable at amortized cost) % 4.13 7.16 |
Schedule of Credit Quality by Financial Asset Class | A detail by credit quality, which includes loans and accounts receivable from customers and interbank loans as of December 31, 2020 and 2019 is summarized as follows: As of December 31, 2020 Corporate Stage 1 Stage 2 Stage 3 Totals corporate Percentage Stage 1 Stage 2 Stage 3 Totals allowance Percentage MCh$ MCh$ MCh$ MCh$ % MCh$ MCh$ MCh$ MCh$ % A1 163,981 — — 163,981 (66) — — (66) A2 514,946 — — 514,946 (254) — — (254) A3 2,182,085 — — 2,182,085 (3,624) — — (3,624) A4 4,223,518 — — 4,223,518 (35,625) — — (35,625) A5 2,952,521 — — 2,952,521 (19,474) — — (19,474) A6 — 920,044 — 920,044 — (38,540) — (38,540) B1 — 431,934 — 431,934 — (10,757) — (10,757) B2 — 161,455 — 161,455 — (13,265) — (13,265) B3 — 163,779 — 163,779 — (16,242) — (16,242) B4 — 208,409 — 208,409 — (56,413) — (56,413) C1 — — 97,306 97,306 — — (2,193) (2,193) C2 — — 63,842 63,842 — — (7,146) (7,146) C3 — — 166,229 166,229 — — (46,524) (46,524) C4 — — 185,893 185,893 — — (83,164) (83,164) C5 — — 128,699 128,699 — — (94,140) (94,140) C6 — — 188,493 188,493 — — (191,900) (191,900) Subtotals corporate 10,037,051 1,885,621 830,462 12,753,134 (59,043) (135,217) (425,067) (619,327) As of December 31, 2020 Group Stage 1 Stage 2 Stage 3 Total group Percentage Stage 1 Stage 2 Stage 3 Totals allowance Percentage MCh$ MCh$ MCh$ MCh$ % MCh$ MCh$ MCh$ MCh$ % Commercial loans 491,849 1,178,431 385,385 2,055,665 (29,083) (57,606) (41,601) (128,290) Mortgage loans 4,166,515 1,025,921 124,317 5,316,753 (10,732) (48,514) (14,219) (73,465) Consumer loans 1,732,525 686,699 73,205 2,492,429 (66,649) (105,353) (48,789) (220,791) Subtotals group 6,390,889 2,891,051 582,907 9,864,847 (106,464) (211,473) (104,609) (422,546) Totals portfolio 16,427,940 4,776,672 1,413,369 22,617,981 (165,507) (346,690) (529,676) (1,041,873) Note 36 - Risk management, continued As of December 31, 2019 Corporate Stage 1 Stage 2 Stage 3 Totals corporate Percentage Stage 1 Stage 2 Stage 3 Totals allowance Percentage MCh$ MCh$ MCh$ MCh$ % MCh$ MCh$ MCh$ MCh$ % A1 101,936 — — 101,936 (14) — — (14) A2 600,732 — — 600,732 (124) — — (124) A3 3,063,847 — — 3,063,847 (1,636) — — (1,636) A4 4,238,157 — — 4,238,157 (12,582) — — (12,582) A5 2,723,568 — — 2,723,568 (21,246) — — (21,246) A6 — 1,041,531 — 1,041,531 — (25,533) — (25,533) B1 — 364,393 — 364,393 — (11,971) — (11,971) B2 — 154,200 — 154,200 — (12,071) — (12,071) B3 — 73,505 — 73,505 — (11,058) — (11,058) B4 — 413,676 — 413,676 — (91,038) — (91,038) C1 — — 167,177 167,177 — — (8,126) (8,126) C2 — — 43,587 43,587 — — (3,213) (3,213) C3 — — 80,574 80,574 — — (14,848) (14,848) C4 — — 91,831 91,831 — — (27,076) (27,076) C5 — — 205,639 205,639 — — (98,523) (98,523) C6 — — 144,115 144,115 — — (95,606) (95,606) Subtotals corporate 10,728,240 2,047,305 732,923 13,508,468 (35,602.00) (151,671.00) (247,392.00) (434,665) As of December 31, 2019 Group Stage 1 Stage 2 Stage 3 Total group Percentage Stage 1 Stage 2 Stage 3 Totals allowance Percentage MCh$ MCh$ MCh$ MCh$ % MCh$ MCh$ MCh$ MCh$ % Commercial loans 1,737,978 — 214,098 1,952,076 (37,434) — (73,100) (110,534) Mortgage loans 4,043,765 656,010 176,266 4,876,041 (5,680) (49,072) (23,749) (78,501) Consumer loans 2,201,939 482,372 113,918 2,798,229 (66,692) (113,507) (76,218) (256,417) Subtotals group 7,983,682 1,138,382 504,282 9,626,346 (109,806) (162,579) (173,067) (445,452) Totals portfolio 18,711,922 3,185,687 1,237,205 23,134,814 (145,408) (319,912) (414,797) (880,117) |
Schedule of Analysis of Gross Carrying Amount of Loans and Advances to Customers by Past Due Status under IFRS 9 and IAS 39 | The table below provides an analysis of the gross carrying amount of loans and advances to customers by past due: Less than 30 days overdue Between 30 and 89 days overdue More than 90 days overdue Total overdue MCh$ MCh$ MCh$ MCh$ Interbank loans — — — — Loans and accounts receivable from customers Commercial loans 195,865 260,792 381,611 838,268 Mortgage loans 87,946 37,084 77,175 202,205 Consumer loans 78,573 50,275 45,096 173,944 Totals 362,384 348,151 503,882 1,214,417 Less than 30 days overdue Between 30 and 89 days overdue More than 90 days overdue Total overdue MCh$ MCh$ MCh$ MCh$ Interbank loans — — — — Loans and accounts receivable from customers Commercial loans 542,648 134,505 490,641 1,167,794 Mortgage loans 166,105 88,072 102,650 356,827 Consumer loans 152,507 73,347 60,373 286,227 Totals 861,260 295,924 653,664 1,810,848 |
Schedule of Bank's Maximum Credit Risk Exposure by Financial Asset | Maximum Exposure to Credit Risk The following table shows the Bank’s maximum credit risk exposure by financial asset as of December 31, 2020, 2019, 2018 for different balance sheet items, including derivatives, without deducting real guarantees or other credit enhancements received: Maximum Exposure as of December 31, 2020 Balance sheet asset Off-balance sheet Collateral Notes Gross amounts Allowances Net amounts Gross amounts Allowances Net amounts Cash Non-cash Net exposure MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Financial instruments at fair value through other comprehensive income 11 3,971,810 (911) 3,970,899 — — — — — 3,970,899 Loans and accounts receivable at amortized cost 10 22,617,981 (1,041,873) 21,576,108 5,393,860 (39,775) 5,354,085 — 23,428,761 3,501,432 Commercial loans 14,808,799 (747,617) 14,061,182 5,393,860 (39,775) 5,354,085 — 13,348,809 6,066,458 Mortgage loans 5,316,753 (73,465) 5,243,288 — — — — 9,844,723 (4,601,435) Consumer loans 2,492,429 (220,791) 2,271,638 — — — — 235,229 2,036,409 Financial instruments at amortized cost 11 111,643 (101) 111,542 — — — — — 111,542 Investments under resale agreements 7 105,580 — 105,580 — — — — 105,580 — Financial derivative contracts 8 3,982,803 — 3,982,803 — — — 308,674 — 3,674,129 Interbank loans, net 9 7,131 (10) 7,121 — — — — — 7,121 Other assets 15 — — — — — — — — — Totals 30,796,948 (1,042,895) 29,754,053 5,393,860 (39,775) 5,354,085 308,674 23,534,341 11,265,123 Maximum Exposure as of December 31, 2019 Balance sheet asset Off-balance sheet Collateral Notes Gross amounts Allowances Net amounts Gross amounts Allowances Net amounts Cash Non-cash Net exposure MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Financial instruments at fair value through other comprehensive income 11 3,598,890 — 3,598,890 — — — — — 3,598,890 Loans and accounts receivable at amortized cost 10 23,134,814 (880,117) 22,254,697 5,895,139 (34,271) 5,860,868 — 27,344,699 770,866 Commercial loans 15,460,544 (545,199) 14,915,345 5,895,139 (34,271) 5,860,868 — 17,686,941 3,089,272 Mortgage loans 4,876,041 (78,501) 4,797,540 — — — — 7,424,712 (2,627,172) Consumer loans 2,798,229 (256,417) 2,541,812 — — — — 2,233,046 308,766 Financial instruments at amortized cost 11 115,682 (24) 115,658 — — — — — 115,658 Investments under resale agreements 7 75,975 — 75,975 — — — — 75,975 — Financial derivative contracts 8 3,154,957 — 3,154,957 — — — 116,654 — 3,038,303 Interbank loans, net 9 56,396 (239) 56,157 — — — — — 56,157 Other assets 15 — — — — — — — — — Totals 30,136,714 (880,380) 29,256,334 5,895,139 (34,271) 5,860,868 116,654 27,420,674 7,579,874 |
Summary for Allowances for Loan Losses According to IFRS 9 | A summary for the allowances for loan losses is as follows: As of December 31, 2020 2019 MCh$ MCh$ Loans and accounts receivable at amortized cost (1,041,873) (880,117) Interbank loans, net (10) (239) Provisions for contingent loans risk (39,775) (34,271) Total allowances (1,081,658) (914,627) |
Schedule of Concentration of Credit Risk by Industry | The following table displays the concentration of credit risk by industry for financial assets: As of December 31, 2020 2019 Maximum Maximum Maximum Maximum gross net gross net Note exposure exposure (1) % exposure exposure (1) % MCh$ MCh$ MCh$ MCh$ Manufacturing 1,060,837 1,004,437 4.69 % 1,099,739 1,037,275 4.66 % Mining 534,823 465,405 2.36 % 551,615 479,190 2.15 % Electricity, gas and water 1,099,504 863,573 4.86 % 1,125,541 989,433 4.45 % Agriculture and livestock 494,601 470,250 2.19 % 483,943 455,842 2.05 % Forestry and wood extraction 56,005 54,607 0.25 % 53,328 51,864 0.23 % Fishing 35,723 30,882 0.16 % 46,902 45,992 0.21 % Transport 586,831 527,557 2.59 % 559,271 510,333 2.29 % Communications 56,148 53,659 0.25 % 34,926 33,720 0.15 % Construction 1,837,114 1,799,216 8.12 % 2,106,829 2,076,668 9.33 % Commerce 2,210,467 2,099,734 9.77 % 2,129,179 2,019,636 9.08 % Services 3,599,936 3,527,342 15.92 % 3,944,571 3,908,000 17.56 % Others 3,237,714 3,237,323 14 % 3,324,700 3,307,390 14.86 % Subtotal commercial loans 10 a) 14,809,703 14,133,985 65.47 % 15,460,544 14,915,343 67.02 % Consumer loans 10 a) 5,317,000 5,225,837 23.51 % 2,798,229 2,541,812 11.42 % Mortgage loans 10 a) 2,492,464 2,325,447 11.02 % 4,876,041 4,797,540 21.56 % Totals 22,619,167 21,685,269 100 % 23,134,814 22,254,695 100 % (1) Net of allowances |
Schedule of Banking Book Positions (Products Valued at Amortized Cost and Available-for-sale Instruments and Derivatives Valued at Fair Value) | Note 36 - Risk management, continued The following are the Banking Book items (products valued at amortized cost and FVTOCI and derivatives valued at fair value) for the most relevant currencies in which the Bank trades at the end of the year ended December 31, 2020 and 2019: As of December 31, 2020 Between 1 and 3 More than 3 months Between 1 and 3 More than 3 Positions Up to 1 month months and less 1 year years years Totals MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ ASSETS 9,817,266 2,565,202 5,585,956 5,174,445 9,793,262 32,936,131 CLP 4,885,891 845,251 2,289,124 2,252,567 1,918,038 12,190,871 CLF 539,004 502,506 1,683,797 1,586,457 6,989,721 11,301,485 USD 2,523,089 571,066 885,045 123,608 201,009 4,303,817 COP 1,869,282 646,379 727,990 1,211,813 684,494 5,139,958 LIABILITIES (15,149,162) (2,808,356) (4,363,629) (1,818,488) (7,983,018) (32,122,653) CLP (10,169,966) (1,637,063) (2,477,283) (661,668) (1,950,514) (16,896,494) CLF (223,471) (14,789) (284,994) (768,465) (5,616,883) (6,908,602) USD (2,152,414) (884,847) (939,496) (3,590) — (3,980,347) COP (2,603,311) (271,657) (661,856) (384,765) (415,621) (4,337,210) Derivatives (149,153) (133,655) (133,194) (376,852) 949,461 156,607 CLP 830,637 1,429,392 516,336 272,765 24,985 3,074,115 CLF (1,263,538) (795,275) (662,416) (444,847) 1,001,038 (2,165,038) USD 103,599 (24,269) 87,848 (24,433) (12,182) 130,563 COP 180,149 (743,503) (74,962) (180,337) (64,380) (883,033) As of December 31, 2019 Between 1 and 3 More than 3 months Between 1 and 3 More than 3 Positions Up to 1 month months and less 1 year years years Totals MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ ASSETS 15,718,342 5,631,115 9,384,357 8,943,449 12,031,089 51,708,352 CLP 3,507,091 965,331 2,382,124 1,924,539 1,365,975 10,145,060 CLF 536,885 595,857 1,670,189 2,172,579 6,662,306 11,637,816 USD 2,038,658 911,154 1,892,712 88,532 125,788 5,056,844 COP 9,635,708 3,158,773 3,439,332 4,757,799 3,877,020 24,868,632 LIABILITIES (20,036,030) (5,142,757) (10,375,645) (3,733,426) (7,301,728) (46,589,586) CLP (8,633,088) (2,251,174) (3,200,762) (632,972) (215,000) (14,932,996) CLF (432,799) (47,785) (655,079) (752,948) (5,426,561) (7,315,172) USD (1,305,440) (1,418,654) (3,610,341) (69,784) — (6,404,219) COP (9,664,703) (1,425,144) (2,909,463) (2,277,722) (1,660,167) (17,937,199) Derivatives 1,881,267 (1,765,659) (205,036) (425,285) 540,733 26,020 CLP 988,919 1,140,587 900,023 664,608 (407,679) 3,286,458 CLF (936,785) (814,209) (485,247) (904,781) 910,135 (2,230,887) USD 787,971 524,265 806,558 77,221 15,380 2,211,395 COP 1,041,162 (2,616,302) (1,426,370) (262,333) 22,897 (3,240,946) |
Schedule of Structural Interest Rate Position In Banking Book | The consumption of regulatory limit of market risk, specifically for the Trading Book as of December 31, 2020, 2019 and 2018, is presented below: As of December 31, Limit consumption 2020 2019 2018 Market risk exposure (MRE) 83.34 % 80.10 % 71.80 % |
Schedule of Banking Book | Note 36 - Risk management, continued The following table details regulatory limit consumption for market risk, considered as the limit to be 100% calculated based on the rules indicated above, specifically for the Banking Book as of December 31, 2020, 2019 and 2018: As of December 31, Limit consumption 2020 2019 2018 Short-term exposure to interest rate risk 62.99 % 48.92 % 51.40 % Long-term exposure to interest rate risk 63.86 % 57.82 % 50.30 % |
Schedule of Interest Rate | The table below presents a sensitivity analysis for changes of 0.01% in interest rates by term and type of interest rate, and its corresponding impact on profit and loss (net interest margin) and equity (valuation accounts for financial instruments at FVTOCI). Scenarios for impacts on P&L Scenarios for impacts on FVTOCI Chamber Government Chamber Government Curve Curve Chamber Government Chamber Government Curve Curve Term CLP CLP CLF CLF USD MX CLP CLP CLF CLF USD MX 1 day (39) 39 87 162 (51) 51 39 39 (87) 162 51 (51) 3 months (39) 39 87 162 (51) 51 39 39 (87) 162 51 (51) 6 months (39) 39 87 162 (51) 51 39 39 (87) 162 51 (51) 9 months (36) 42 87 159 (67) 67 36 42 (87) 159 67 (67) 1 year (33) 46 93 155 (86) 86 33 46 (93) 155 86 (86) 2 years (37) 39 70 93 (101) 101 37 39 (70) 93 101 (101) 3 years (47) 52 68 88 (103) 103 47 52 (68) 88 103 (103) 4 years (57) 65 68 83 (105) 105 57 65 (68) 83 105 (105) 5 years (67) 77 67 79 (106) 106 67 77 (67) 79 106 (106) 7 years (65) 66 74 81 (103) 103 65 66 (74) 81 103 (103) 10 years (63) 50 83 85 (98) 98 63 50 (83) 85 98 (98) 20 years (63) 50 80 81 (115) 115 63 50 (80) 81 115 (115) Note 36 - Risk management, continued Interest rate scenarios - Colombia (basis points – 0.01%) The table below presents a sensitivity analysis for changes of 0.01% in interest rates by term and type of interest rate, and its corresponding impact on profit and loss (net interest margin) and equity (valuation accounts for financial instruments at FVTOCI). Scenarios for impacts on P&L Scenarios for impacts on FVTOCI Tenor Government COP Swap IBR Curve USD Government COP Swap IBR Curve USD 1 day 137 37 13 137 37 13 3 months 133 40 17 133 40 17 6 months 130 78 19 130 78 19 9 months 126 77 27 126 77 27 1 year 122 75 35 122 75 35 2 years 108 96 39 108 96 39 3 years 93 94 35 93 94 35 4 years 85 95 36 85 95 36 5 years 86 96 37 86 96 37 7 years 88 98 39 88 98 39 10 years 91 101 42 91 101 42 20 years 93 111 51 93 111 51 Scenarios for impacts on accrual book Tenor Government COP Curve USD 1 day 37 13 1 month 79 14 3 months 40 17 6 months 78 19 9 months 77 27 1 year 75 35 |
Schedule of Exchange Rate | The table below presents the assumptions used in the sensitivity analysis for changes in the relevant exchanges rates, were by the Bank determined that its relevants exchange rate are USD-CLP and USD-COP using a 10.86% and 10.42% change over the closing rates, respectively, to each of the portfoliosand its corresponding impact on profit and loss (net income from financial operations and net foreign exchange gain/loss) and equity (valuation accounts for financial instruments at FVTOCI). Change in scenario impacting Change in scenario impacting Change in scenario impacting Exchange rate P&L FVTOCI accrual book % % % USD – CLP (10.86) (10.86) (10.86) USD - COP 10.42 10.42 10.42 Note 36 - Risk management, continued Exchange rate scenarios Colombia The table below presents the assumption used in the sensitivity analysis for changes in the relevant exchanges rates, were by the Bank used a 5.08% change over the closing rates of USD - COP to each of the portfolios, and its corresponding impact on profit and loss (net income from financial operations and exchange differences) and equity (valuation accounts for financial instruments at FVTOCI). Change in scenario Change in scenario Change in scenario impacting Exchange rate impacting P&L impacting FVTOCI accrual book % % % USD - COP (5.08) (5.08) (5.08) |
Schedule of Trading Book Positions by Risk Factor | The following table presents the impact of movements or reasonably likely scenarios explained above applied to positions in the Trading Book that affect P&L (net income from financial operations, net foreign exchange gain/losses, and net interest margin as applicable) as of December 31, 2020, 2019 and 2018: As of December 31, Potential impact on P&L 2020 2019 2018 MCh$ MCh$ MCh$ CLP rate risk (8,403) (4,881) (5,019) Derivatives (8,403) (4,879) (5,018) Debt instruments — (2) (1) CLF rate risk (8,488) (5,130) (5,942) Derivatives (8,488) (5,130) (5,942) Debt instruments — — — COP rate risk (3,104) (1,200) (29,182) Derivatives (2,508) (1,086) (29,094) Debt instruments (596) (114) (88) UVR rate risk (133) (108) (375) Derivatives 3 (102) (364) Debt instruments (136) (6) (11) USD rate risk (2,648) (2,711) (2,810) Other currencies rate risk (249) (177) (42) Total rate risk (23,025) (14,207) (43,370) Exchange rate risk (163) (763) 150 Options risk 16 89 156 Total impact (23,172) (14,881) (43,064) |
Schedule of Potential Impact on Accrual Book | As of December 31, Potential impact on P&L 2020 2019 2018 MCh$ MCh$ MCh$ CLP rate risk (8,403) (4,881) (5,019) Derivatives (8,403) (4,879) (5,018) Debt instruments — (2) (1) CLF rate risk (8,488) (5,130) (5,942) Derivatives (8,488) (5,130) (5,942) Debt instruments — — — COP rate risk (3,104) (1,200) (29,182) Derivatives (2,508) (1,086) (29,094) Debt instruments (596) (114) (88) UVR rate risk (133) (108) (375) Derivatives 3 (102) (364) Debt instruments (136) (6) (11) USD rate risk (2,648) (2,711) (2,810) Other currencies rate risk (249) (177) (42) Total rate risk (23,025) (14,207) (43,370) Exchange rate risk (163) (763) 150 Options risk 16 89 156 Total impact (23,172) (14,881) (43,064) The following table presents the impact on the net interest margin of movements or reasonably likely scenarios on positions in the Accrual Book for the years ended December 31, 2020, 2019 and 2018: For the years ended December 31, Potential impact on Accrual Book 2020 2019 2018 Interest rate shock sensitivity impact (9,626) (13,981) (12,359) |
Schedule of Potential Impact on Equity & Prices | In line with the effects on P&L of positions accounted for at fair value and amortized cost, the changes in market factors because of reasonably possible movements in interest and exchange rates also generate impacts on equity accounts as a result of the potential change in market value of the portfolio of investments at FVTOCI and the portfolios of cash flow and net foreign investment hedges, DV01 represents the impact on equity using the scenarios were by management used the assumption to use +1bp over the yield curves to estimate the efect over our FVTOCI portfolio, which are presented in the following table: For the years ended December 31, 2020 2019 2018 Potential Impact DV01 Impact of Change in DV01 Impact of Change in DV01 Impact of Change in on FVTOCI (+1 bp) Interest Rate (+1 bp) Interest Rate (+1 bp) Interest Rate US$ MUS$ MCh$ US$ MUS$ MCh$ US$ MUS$ MCh$ CLP (707,409) (40.13) (28,609) (377,765) (31.16) (23,334) (254,636) (11.73) (8,180) CLF (201,548) (23.15) (16,505) (221,758) (49.07) (36,744) (177,471) (26.29) (18,328) COP 35,889 (8.13) (5,780) (49,254) (1.37) (1,023) (189,242) (5.74) (3,988) UVR (36,520) (3.88) (2,755) (142,663) (5.25) (3,981) (29,763) (0.55) (380) USD (42,030) (4.36) (3,107) (2,353) (0.14) (105) (33,769) (2.44) (1,701) Other 11,624 (0.59) (419) 888 (0.08) (56) — — — Total interest rate impact (939,994) (80.24) (57,175) (792,905) (87.07) (65,243) (684,881) (46.75) (32,577) Impact due to changes in prices Exchange rate As of December 31, 2020 As of December 31, 2019 ThUS$ MCh$ ThUS$ MCh$ USD (67.25) (47,942) (134.51) (100,719) COP (63.65) (45,380) (146.36) (109,591) Total risk exchange rate (130.90) (93,322) (280.87) (210,310) Total impact (211.14) (150,497) (367.94) (275,553) |
Schedule of exposure based on financial instruments subject to the reform of the LIBOR | The LIBOR has been the main reference to determine the price of financial instruments from mortgages, loans, bond, derivatives, as well as for the construction of discount rates and transfer prices. However, it has recently been challenged its reliability and methodological definition, prompting the UK's Financial Conduct Authority (FCA) to dictate in 2017 and propose the cesation of the LIBOR benchmart December 31, 2021 as the deadline for LIBOR. By virtue of the foregoing, as of December 31, 2020, the bank has completed the diagnostic phase to determine the impact of transitioning to an alternative rate and is in the process of drawing up a plan for its implementation. The following table details the exposure based on financial instruments subject to the reform of the reference interest rate, presenting the balances as of December 31, 2020: Financial intruments based on libor Exposure Financial Statements line item Assets Liabilities MCh$ MCh$ Non-derivative financial instruments 1,632,335 1,107,483 Loans and accounts receivable from customers 1,632,335 — Interbank borrowings — 1,107,483 Financial derivative contracts (1) (2) 12,988,222 9,228,125 Totals 14,620,557 10,335,608 (1) Correspond to the fair value of the operations. (2) The total notional amount associated with derivative operations corresponds to MCh$32,966,228, |
Schedule of Potential Impact On Equity And Impact Of Change In Prices | According to local regulations, as of December 31, 2020 and 2019, the relation between assets and risk weighted assets is as follow: Consolidated assets Risk-weighted assets As of December 31, As of December 31, 2020 2019 2020 2019 MCh$ MCh$ MCh$ MCh$ Assets balance (net of allowances) Cash and deposits in banks 3,089,072 1,009,681 — — Cash items in process of collection 173,192 231,305 30,919 40,916 Trading securities 580,369 181,402 90,149 21,755 Investments under resale agreements 105,580 75,975 97,525 57,622 Financial derivative contract (*) 1,302,692 1,674,743 859,464 1,215,171 Interbank loans 7,115 56,205 7,115 56,205 Loans and accounts receivable from customers 21,685,269 22,373,638 18,634,870 20,112,889 Available for sale investments 3,964,720 3,593,204 334,632 387,692 Held to maturity investments 111,643 115,682 49,627 52,527 Investments in companies 11,983 14,938 11,983 14,938 Intangible 718,683 1,617,745 226,171 423,414 Fixed assets 56,020 57,962 56,020 57,962 Right-of-use asset under lease agreements 170,603 204,559 170,603 204,559 Current taxes 64,699 85,516 6,470 8,552 Deferred taxes 314,112 184,167 31,411 18,417 Other assets 602,769 783,447 410,854 698,801 Off-balance sheet assets Contingent loans 2,381,233 2,647,938 1,428,740 1,588,763 Totals 35,339,754 34,908,107 22,446,553 24,960,183 (*) Items presented at their Equivalent Credit Risk value, in accordance with the provisions of Chapter 12‑1 “Equity for Legal and Regulatory Effects” of the RAN, issued by the Commission for the Financial Market (former SBIF). |
Schedule of Basic and Regulatory Capital | Amount Ratio As of December 31, As of December 31, 2020 2019 2020 2019 MCh$ MCh$ % % Basic capital 2,315,411 3,346,102 (a) 6.54 9.59 (c) Effective equity 3,044,661 3,280,569 (b) 13.56 13.14 (d) (a) Basic Capital Corresponds to the net amount that must be shown in the Consolidated Financial Statements filed with the CMF under the line item “Equity attributable to equity holders of the Bank” as indicated in the Compendium of Accounting Standards. (b) Based on the consolidated financial statements filed with CMF, the effective net equity of a bank is the sum of (i) a bank’s basic capital, (ii) subordinated bonds issued by a bank valued at their placement price up to 50% of its net capital base; provided that the value of the bonds shall decrease 20% for each year that lapses during the period commencing six years prior to their maturity and (iii) voluntary loan loss allowances in an amount up to 1.25% of a bank’s risk-weighted assets (if a bank has goodwill, this value would be required to be deducted from the calculation of the effective net equity). The calculation of the effective net equity does not include the capital contributions made to subsidiaries of a bank and is made on a consolidated basis rather than on an unconsolidated basis. Note 36 - Risk management, continued (c) Consolidated basic capital ratio corresponding to basic capital divided by total assets for capital purposes (includes items outside the Consolidated Financial Statements). (d) Consolidated solvency ratio corresponds to the ratio of effective equity to weighted assets. |
Maturity of assets and liabil_2
Maturity of assets and liabilities (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [Abstract] | |
Schedule of Maturity of Financial Assets and Liabilities | The main assets grouped by maturity, including interest accrued as of December 31, 2020 and 2019, are detailed as follows: As of December 31, 2020 Between Between 1 month Between Between 3 years to 3 3 month 1 year to to 6 Over 6 Up to 1 month months to 1 year 3 years years years Totals MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Assets Financial instruments at fair value through profit or loss 55,516 65,370 77,021 176,681 192,719 15,403 582,710 Financial instruments at fair value through other comprehensive income 1,127,310 97,970 486,354 870,028 1,312,994 76,243 3,970,899 Loans and accounts receivable from customers at amortized cost (**) 1,956,465 1,457,769 2,260,698 2,834,427 3,929,783 10,178,839 22,617,981 Commercial loans 1,387,069 1,436,296 2,167,838 2,258,716 2,769,842 4,789,038 14,808,799 Mortgage loans 1,980 420 2,952 26,153 181,838 5,103,410 5,316,753 Consumer loans 567,416 21,053 89,908 549,558 978,103 286,391 2,492,429 Financial instruments at amortized cost 18,197 — 92,698 647 — — 111,542 Investments under resale agreements 19,933 40,537 43,633 692 785 — 105,580 Financial derivative contracts 173,313 10,258 526,205 639,459 918,637 1,714,931 3,982,803 Interbank loans (*) — 7,131 — — — — 7,131 Subtotal 3,350,734 1,679,035 3,486,609 4,521,934 6,354,918 11,985,416 31,378,646 Liabilities Obligations under repurchase agreements 637,751 1,100 — — — — 638,851 Time deposits and other time liabilities 4,627,676 2,385,542 3,311,082 661,139 123,689 323,936 11,433,064 Financial derivative contracts 171,119 18,551 483,102 669,539 878,157 1,453,123 3,673,591 Interbank borrowings 103,194 119,061 719,886 970,810 1,874,093 11,934 3,798,978 Lease obligations 2,927 7,258 20,645 51,861 49,170 20,024 151,885 Debt instruments issued 1,640 545 326,088 838,032 1,873,627 3,164,924 6,204,856 Subtotal 5,544,307 2,532,057 4,860,803 3,191,381 4,798,736 4,973,941 25,901,225 (*) Interbank loans are presented gross. The amount of allowances corresponds to MCh$10. (**) Loans and accounts receivable from customers at amortized cost are presented gross. Allowances by loan type are detailed as follows: Commercial MCh$747,617; Mortgage MCh$73,465; and Consumer MCh$220,791. Note 37 - Maturity of assets and liabilities, continued As of December 31, 2019 Between Between 1 month Between Between 3 years to 3 3 month 1 year to to 6 Over 6 Up to 1 month months to 1 year 3 years years years Totals MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Assets Financial instruments at fair value through profit or loss 20,465 54,382 39,730 39,822 26,703 2,600 183,702 Financial instruments at fair value through other comprehensive income 258,843 151,014 609,862 1,515,340 896,383 167,448 3,598,890 Loans and accounts receivable from customers at amortized cost (**) 1,641,670 2,723,589 2,796,116 2,576,345 3,778,435 9,618,659 23,134,814 Commercial loans 1,443,029 2,209,624 2,693,582 1,962,306 2,516,050 4,635,953 15,460,544 Mortgages loans 3,040 550 2,760 22,657 115,878 4,731,156 4,876,041 Consumer loans 195,601 513,415 99,774 591,382 1,146,507 251,550 2,798,229 Financial instruments at amortized cost 29,026 7,543 78,138 951 — — 115,658 Investments under resale agreements 75,975 — — — — — 75,975 Financial derivative contracts 151,952 160,523 306,284 602,190 662,530 1,271,478 3,154,957 Interbank loans (*) 55,881 — 945 — — — 56,826 Subtotal 2,233,812 3,097,051 3,831,075 4,734,648 5,364,051 11,060,185 30,320,822 Liabilities Investments under resale agreements 559,457 — — — — — 559,457 Deposits and other demand liabilities 3,946,542 2,432,029 3,913,833 827,802 128,756 371,225 11,620,187 Financial derivative contracts 235,652 145,905 283,404 580,829 703,285 988,959 2,938,034 Interbank borrowings 90,251 246,214 1,781,437 406,539 96,281 26,034 2,646,756 Lease obligations 1,177 76,333 52,074 14,561 20,734 8,045 172,924 Debt instruments issued 30,419 378 620,710 959,369 1,375,640 3,421,840 6,408,356 Subtotal 4,863,498 2,900,859 6,651,458 2,789,100 2,324,696 4,816,103 24,345,714 (*) Interbank loans are presented gross. The amount of allowances corresponds to MCh$239. (**) Loans and accounts receivable from customers at amortized cost are presented gross. Allowances by loan type are detailed as follows: Commercial MCh$545,119; Mortgage MCh$78,501; and Consumer MCh$256,417. |
Foreign currency position (Tabl
Foreign currency position (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text block [Abstract] | |
Schedule assets and liabilities in local and foreign currency, readjustable by variation of exchange rate | In the Consolidated Statements of Financial Position as of December 31, 2020 and 2019, assets and liabilities are included in local and foreign currency, as well as inflation-indexation adjustable and adjustable by the variation of the exchange rate, for the amounts indicated below: Others Exchange rate As of December 31, 2020 Note CLP (*) UF USD COP EUR currency adjustable Totals MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Cash and deposits in banks 5a) 1,232,614 — 1,501,888 294,522 28,315 31,733 — 3,089,072 Cash items in process of collection 5b) 110,503 — 61,819 93 9 768 — 173,192 Financial instruments at fair value through profit or loss 6 145,316 355 — 437,039 — — — 582,710 Financial instruments at fair value through other comprehensive income 11 2,556,706 696,307 103,503 614,383 — — — 3,970,899 Loans and accounts receivable at amortized cost 10 5,768,428 8,959,138 2,859,253 3,955,993 23,704 — 9,592 21,576,108 Financial instruments at amortized cost 11 — — 7,202 104,340 — — — 111,542 Investments under resale agreements 7 84,173 — — 21,407 — — — 105,580 Investments in companies 7,149 — — — — — — 7,149 Financial derivative contracts 8 2,529,980 387,035 1,039,536 19,967 6,285 — — 3,982,803 Interbank loans, net 9 — — 7,121 — — — — 7,121 Intangible assets 13 682,523 — 172 35,988 — — — 718,683 Property, plant, and equipment 14 56,274 — 482 23,859 — — — 80,615 Right-of-use asset under lease agreements 15 111,452 — 6,061 28,495 — — — 146,008 Current taxes 16 43,132 — 1,844 19,723 — — — 64,699 Deferred taxes 16 250,023 — 14,645 47,888 — — — 312,556 Other assets 17 87,378 11,883 388,141 54,961 — — 270 542,633 Other non-current assets held for sale 17 13,269 — — 1,809 — — — 15,078 TOTAL ASSETS 13,678,920 10,054,718 5,991,667 5,660,467 58,313 32,501 9,862 35,486,448 Deposits and other demand liabilities 18 3,186,296 13,448 737,892 2,238,247 21,435 88 — 6,197,406 Cash in process of being cleared 5b) 82,287 — 52,244 1 1,528 18,172 — 154,232 Obligations under repurchase agreements 7 399,593 — — 239,258 — — — 638,851 Time deposits and other time liabilities 18 8,042,117 402,118 1,539,760 1,449,054 14 — 1 11,433,064 Financial derivative contracts 8 2,031,193 476,910 986,508 170,598 8,382 — — 3,673,591 Interbank borrowings 19 2,257,226 — 1,384,248 47,768 368 109,368 — 3,798,978 Debt instruments issued 20 835,961 4,636,431 122,734 609,730 — — — 6,204,856 Other financial liabilities 20 13,123 — — — — — — 13,123 Lease contracts liabilities 15 561 118,189 6,987 25,992 — — 156 151,885 Current taxes 16 596 — — 1,170 — — — 1,766 Deferred taxes 16 — — — 237 — — — 237 Provisions 21 84,190 — 5,814 45,086 — — — 135,090 Other liabilities 22 175,812 159,834 274,827 79,442 66 — 10,053 700,034 Liabilities directly associated with non-current assets held for sale 22 — — — — — — — — TOTAL LIABILITIES 17,108,955 5,806,930 5,111,014 4,906,583 31,793 — 127,628 10,210 33,103,113 Assets (liabilities) net (3,430,035) 4,247,788 880,653 753,884 26,520 (95,127) (348) 2,383,335 (*) Includes transactions denominated in foreign currencies but that are settled in pesos. Note 38 - Foreign currency position, continued Others Exchange rate As of December 31, 2019 Note CLP (*) UF USD COP EUR currency adjustable Totals MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ MCh$ Cash and deposits in banks 5a) 243,754 — 364,594 398,780 2,553 — — 1,009,681 Cash items in process of collection 5b) 150,463 — 80,132 710 — — — 231,305 Financial instruments at fair value through profit or loss 6 112,224 — — 71,478 — — — 183,702 Financial instruments at fair value through other comprehensive income 11 1,600,147 1,023,726 124,310 850,707 — — — 3,598,890 Loans and accounts receivable at amortized cost 10 5,678,458 8,749,298 3,459,607 4,355,845 841 — 10,648 22,254,697 Financial instruments at amortized cost 11 — — 30,123 85,535 — — — 115,658 Investments under resale agreements 7 46,686 — — 29,289 — — — 75,975 Investments in companies 5,833 — — 3,772 — — — 9,605 Financial derivative contracts 8 2,199,266 324,414 536,936 93,427 914 — — 3,154,957 Interbank loans, net 9 — — 35,944 20,452 — — — 56,396 Intangible assets 13 1,400,449 — 1,104 172,880 — — — 1,574,433 Property, plant, and equipment 14 72,766 — 422 21,892 — — — 95,080 Right-of-use asset under lease agreements 15 121,241 — 7,936 38,264 — — — 167,441 Current taxes 16 30,773 — — 54,743 — — — 85,516 Deferred taxes 16 182,302 — 20,942 5,413 — — — 208,657 Other assets 17 248,755 91,456 359,198 71,182 — — 270 770,861 Other non-current assets held for sale 17 17,202 — — — — — — 17,202 TOTAL ASSETS 12,110,319 10,188,894 5,021,248 6,274,369 4,308 — 10,918 33,610,056 Deposits and other demand liabilities 18 2,255,736 2,855 534,005 2,079,465 1,387 — — 4,873,448 Cash in process of being cleared 5b) 100,395 — 64,178 — — — — 164,573 Obligations under repurchase agreements 7 499,136 — — 60,321 — — — 559,457 Time deposits and other time liabilities 18 7,952,973 391,679 1,356,132 1,919,402 — — 1 11,620,187 Financial derivative contracts 8 1,960,447 402,899 476,568 97,212 908 — — 2,938,034 Interbank borrowings 19 — — 2,563,630 83,126 — — — 2,646,756 Debt instruments issued 20 763,503 4,924,260 129,281 590,471 841 — — 6,408,356 Other financial liabilities 20 12,956 10 — — — — — 12,966 Lease contracts liabilities 15 659 129,034 7,689 35,273 — — 269 172,924 Current taxes 16 13 — — — — — — 13 Deferred taxes 16 — — — 263 — — — 263 Provisions 21 106,456 — — 71,371 — — — 177,827 Other liabilities 22 265,814 268,685 115,196 54,446 — — 4,773 708,914 Liabilities directly associated with non-current assets held for sale 22 — — — — — — — — TOTAL LIABILITIES 13,918,088 6,119,422 5,246,679 4,991,350 3,136 — 5,043 30,283,718 Assets (liabilities) net (1,807,769) 4,069,472 (225,431) 1,283,019 1,172 — 5,875 3,326,338 |
General Information and Summa_4
General Information and Summary of Significant Accounting Policies - Additional Information (Detail) $ in Millions, $ in Millions | 12 Months Ended | ||||||
Dec. 31, 2020USD ($) | Dec. 31, 2019CLP ($) | Dec. 31, 2018CLP ($) | Dec. 31, 2020CLP ($) | Jan. 01, 2020CLP ($) | Jan. 01, 2019CLP ($) | Jan. 01, 2018CLP ($) | |
Disclosure of detailed information about business combination [line items] | |||||||
Assets | $ 33,610,056 | $ 35,486,448 | |||||
Equity | $ 3,326,338 | $ 3,437,560 | $ 2,383,335 | $ 3,326,338 | $ 3,437,560 | $ 3,428,757 | |
Incremental interest rate for loans | 2.01% | ||||||
Weighted average incremental interest rate for loans | 2.04% | ||||||
Percentage of dividend on profit | 30.00% | 30.00% | 30.00% | ||||
Lifetime expected credit losses [member] | |||||||
Disclosure of detailed information about business combination [line items] | |||||||
Recorded allowance for lifetime expected credit losses | 100.00% | 100.00% | |||||
USD [member] | |||||||
Disclosure of detailed information about business combination [line items] | |||||||
Assets | $ 49,930 | ||||||
Equity | $ 3,256 | ||||||
Closing foreign exchange rate | 710.73 | 748.77 | 694.73 | 710.73 | |||
COP [member] | |||||||
Disclosure of detailed information about business combination [line items] | |||||||
Closing foreign exchange rate | 0.2078 | 0.2284 | 0.2139 | 0.2078 | |||
CLP [member] | |||||||
Disclosure of detailed information about business combination [line items] | |||||||
Assets | $ 35,486,448 | ||||||
Equity | $ 2,314,248 | ||||||
Itau Unibanco [member] | |||||||
Disclosure of detailed information about business combination [line items] | |||||||
Percentage of voting equity interests acquired | 39.22% | 39.22% | |||||
Saieh Family [member] | |||||||
Disclosure of detailed information about business combination [line items] | |||||||
Percentage of voting equity interests acquired | 27.49% | 27.49% | |||||
Non controlling shareholders [member] | |||||||
Disclosure of detailed information about business combination [line items] | |||||||
Percentage of voting equity interests acquired | 33.29% | 33.29% |
General Information and Summa_5
General Information and Summary of Significant Accounting Policies - Schedule of exercise control (Detail) | 12 Months Ended | |||
Dec. 31, 2020installment | Dec. 31, 2019 | Jul. 08, 2020$ / sharesshares | Jul. 08, 2020$ / sharesshares | |
Bottom of Range [Member] | ||||
Disclosure of subsidiaries [line items] | ||||
Number of Installments | installment | 1 | |||
Top of Range [Member] | ||||
Disclosure of subsidiaries [line items] | ||||
Number of Installments | installment | 6 | |||
Itau Corredores de Bolsa Limitada [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Direct interest owned | 99.99% | 99.99% | ||
Indirect interest owned | 0.01% | 0.01% | ||
Total interest owned | 100.00% | 100.00% | ||
Itau Chile Administradora General de Fondos S.A. [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Direct interest owned | 99.994% | 99.994% | ||
Indirect interest owned | 0.006% | 0.006% | ||
Total interest owned | 100.00% | 100.00% | ||
Itau Corredores de Seguros S.A [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Direct interest owned | 99.99% | 99.99% | ||
Indirect interest owned | 0.01% | 0.01% | ||
Total interest owned | 100.00% | 100.00% | ||
Itau Asesorias Financieras S.A. [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Direct interest owned | 99.99% | 99.99% | ||
Indirect interest owned | 0.01% | 0.01% | ||
Total interest owned | 100.00% | 100.00% | ||
Number of shares acquired | 1 | 1 | ||
Share Price | (per share) | $ 2.29 | $ 1.799 | ||
Recaudaciones y Cobranzas Limitada [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Direct interest owned | 99.99% | 99.99% | ||
Indirect interest owned | 0.01% | 0.01% | ||
Total interest owned | 100.00% | 100.00% | ||
Number of shares acquired | 1 | 1 | ||
Share Price | (per share) | $ 2.29 | $ 1.799 | ||
Itau Corpbanca New York Branch [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Direct interest owned | 100.00% | 100.00% | ||
Total interest owned | 100.00% | 100.00% | ||
Banco CorpBanca Colombia S.A [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Direct interest owned | 87.10% | 87.10% | ||
Total interest owned | 87.10% | 87.10% | ||
Helm Corredor de Seguros S.A. [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Direct interest owned | 79.985% | 79.985% | ||
Total interest owned | 79.985% | 79.985% | ||
Itau Securities Services Colombia S.A. Sociedad Fiduciaria [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Direct interest owned | 5.499% | 5.499% | ||
Indirect interest owned | 82.31% | 82.31% | ||
Total interest owned | 87.809% | 87.809% | ||
Helm Comisionista de Bolsa S.A. [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Direct interest owned | 2.219% | 2.219% | ||
Indirect interest owned | 85.166% | 85.166% | ||
Total interest owned | 87.385% | 87.385% | ||
Number of shares acquired | 6 | 6 | ||
Share Price | (per share) | $ 7.19 | $ 5.648 | ||
Helm Fiduciaria S.A. [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Indirect interest owned | 87.083% | 87.083% | ||
Total interest owned | 87.083% | 87.083% | ||
Helm Bank Panama S.A. [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Indirect interest owned | 87.10% | 87.10% | ||
Total interest owned | 87.10% | 87.10% | ||
Helm Casa de Valores Panama S.A. [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Direct interest owned | 100.00% | |||
Indirect interest owned | 87.10% | |||
Total interest owned | 87.10% |
General Information and Summa_6
General Information and Summary of Significant Accounting Policies - Schedule of exercise control other (Detail) - Itau Asesorias Financieras S.A. [member] - shares | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Jul. 08, 2020 | |
Disclosure of subsidiaries [line items] | |||
Number of shares acquired | 1 | ||
Interest owned | 100.00% | 100.00% |
General Information and Summa_7
General Information and Summary of Significant Accounting Policies - Schedule of Entities Classified as Associates (Detail) | 1 Months Ended | 12 Months Ended | |
Jan. 31, 2022 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of associates [line items] | |||
Entity's share | 23.63% | ||
Nexus S.A [member] | |||
Disclosure of associates [line items] | |||
Entity's share | 14.8148% | 14.8148% | 12.90% |
Transbank S.A | |||
Disclosure of associates [line items] | |||
Entity's share | 8.7188% | 8.7188% |
Significant Events - Additional
Significant Events - Additional Information (Detail) $ in Millions, in Millions | Apr. 28, 2020 | Mar. 18, 2020 | Jan. 22, 2020CLP ($)shares | Jan. 31, 2022 | Jun. 30, 2020CLP ($) | Dec. 31, 2020CLF ( ) | Dec. 31, 2020CLP ($)installment | Dec. 31, 2019CLP ($)$ / shares | Dec. 31, 2019CLP ($) | Dec. 31, 2018CLP ($) |
Disclosure of subsidiaries [line items] | ||||||||||
Percentage of dividend on profit | 30.00% | 30.00% | 30.00% | 30.00% | ||||||
Rescheduled installments | $ 398,086 | |||||||||
Distribution of dividends | $ 127,065 | $ 51,614 | ||||||||
Proportion of ownership interest in associate | 23.63% | 23.63% | ||||||||
Impairments | $ 651,825 | |||||||||
Impairment loss recognised in profit or loss, intangible assets other than goodwill | 765,736 | |||||||||
Impact of Goodwill Impairment Attributable to Non Controlling Interest | $ 10,238 | 10,238 | ||||||||
Impact of Goodwill Impairment Attributable to Parent | 720,951 | 720,951 | ||||||||
Guarantee Fund for Small and Medium Sized Entrepreneurs [Member] | ||||||||||
Disclosure of subsidiaries [line items] | ||||||||||
Loans and advances to customers | $ 803,080 | |||||||||
Threshold Percentage of Guaranteed Amount of Sales | 5.00% | |||||||||
Nexus S.A [member] | ||||||||||
Disclosure of subsidiaries [line items] | ||||||||||
Percentage of voting equity interests acquired | 1.9148% | |||||||||
Proportion of ownership interest in associate | 14.8148% | 14.8148% | 14.8148% | 12.90% | ||||||
Bottom of Range [Member] | ||||||||||
Disclosure of subsidiaries [line items] | ||||||||||
Number of Installments | installment | 1 | |||||||||
Bottom of Range [Member] | Guarantee Fund for Small and Medium Sized Entrepreneurs [Member] | ||||||||||
Disclosure of subsidiaries [line items] | ||||||||||
Percentage of Guarantee Based on Sales | 60.00% | |||||||||
Top of Range [Member] | ||||||||||
Disclosure of subsidiaries [line items] | ||||||||||
Number of Installments | installment | 6 | |||||||||
Top of Range [Member] | Guarantee Fund for Small and Medium Sized Entrepreneurs [Member] | ||||||||||
Disclosure of subsidiaries [line items] | ||||||||||
Percentage of Guarantee Based on Sales | 85.00% | |||||||||
Chile [member] | ||||||||||
Disclosure of subsidiaries [line items] | ||||||||||
Impairments | 412,356 | $ 412,356 | ||||||||
Impairment loss recognised in profit or loss, intangible assets other than goodwill | 412,356 | |||||||||
Colombia [member] | ||||||||||
Disclosure of subsidiaries [line items] | ||||||||||
Impairments | 239,469 | 239,469 | ||||||||
Impairment loss on Goodwill Net of Deferred Taxes | 79,364 | |||||||||
Impairment loss recognised in profit or loss, intangible assets other than goodwill | $ 113,911 | 113,911 | 353,380 | |||||||
ITAÚ CORPBANCA COLOMBIA | ||||||||||
Disclosure of subsidiaries [line items] | ||||||||||
Impairment loss recognised in profit or loss, intangible assets other than goodwill | $ 113,138 | |||||||||
Major business combination [member] | Nexus S.A [member] | ||||||||||
Disclosure of subsidiaries [line items] | ||||||||||
Number of shares acquired | shares | 79,577 | |||||||||
Increase (decrease) in ownership interest | 1.9148% | |||||||||
Proportion of ownership interest in associate | 14.8148% | |||||||||
Investments in associates | $ 338 | |||||||||
Itau Corpbanca [member] | ||||||||||
Disclosure of subsidiaries [line items] | ||||||||||
Dividend payables | $ 127,065 | $ 127,065 | ||||||||
Dividends payable per share | $ / shares | $ 0.2479770771 | |||||||||
Proportion for distribution of dividend | 100.00% |
Reporting Segments - Schedule o
Reporting Segments - Schedule of Group Operates in Two Main Geographic Areas (Detail) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020CLP ($)segment | Dec. 31, 2019CLP ($) | Dec. 31, 2018CLP ($) | |
Disclosure of geographical areas [line items] | |||
Interest income | $ 1,549,674 | $ 1,773,640 | $ 1,739,317 |
Interest expense | (683,237) | (873,222) | (851,654) |
Net interest income | $ 866,437 | 900,418 | 887,663 |
Chile [member] | |||
Disclosure of geographical areas [line items] | |||
Number of reporting segments | segment | 1 | ||
Interest income | $ 1,116,943 | 1,245,465 | 1,208,481 |
Interest expense | (490,729) | (631,279) | (593,796) |
Net interest income | $ 626,214 | 614,186 | 614,685 |
Colombia [member] | |||
Disclosure of geographical areas [line items] | |||
Number of reporting segments | segment | 1 | ||
Interest income | $ 432,731 | 528,175 | 530,836 |
Interest expense | (192,508) | (241,943) | (257,858) |
Net interest income | $ 240,223 | $ 286,232 | $ 272,978 |
Reporting Segments - Schedule_2
Reporting Segments - Schedule of Assets and Liabilities (Detail) - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of geographical areas [line items] | |||
Cash and deposits in banks | $ 3,089,072 | $ 1,009,681 | |
Cash items in process of collection | 173,192 | 231,305 | |
Financial instruments at fair value through profit or loss | 582,710 | 183,702 | |
Financial instruments at fair value through other comprehensive income | 3,970,899 | 3,598,890 | |
Loans and accounts receivable at amortized cost and interbank loans | 21,583,229 | 22,311,093 | |
Investment in associates | 7,149 | 9,605 | |
Financial instruments at amortized cost | 111,542 | 115,658 | |
Investments under resale agreements | 105,580 | 75,975 | |
Financial derivative contracts | 3,982,803 | 3,154,957 | |
Intangible assets | 718,683 | 1,574,433 | |
Property, plant and equipment | 80,615 | 95,080 | $ 95,564 |
Right of use asset under lease agreements | 146,008 | 167,441 | 176,795 |
Current taxes | 64,699 | 85,516 | |
Deferred taxes | 312,556 | 208,657 | |
Other assets | 542,633 | 770,861 | |
Other non-current assets held for sale | 15,078 | 17,202 | |
TOTAL ASSETS | 35,486,448 | 33,610,056 | |
LIABILITIES | |||
Deposits and other demand liabilities | 6,197,406 | 4,873,448 | |
Cash in process of being cleared | 154,232 | 164,573 | |
Obligations under repurchase agreements | 638,851 | 559,457 | |
Time deposits and other time liabilities | 11,433,064 | 11,620,187 | |
Financial derivative contracts | 3,673,591 | 2,938,034 | |
Interbank borrowings | 3,798,978 | 2,646,756 | |
Debt instruments issued | 6,204,856 | 6,408,356 | |
Other financial liabilities | 13,123 | 12,966 | |
Lease contracts liabilities | 151,885 | 172,924 | $ 176,795 |
Current taxes | 1,766 | 13 | |
Deferred taxes | 237 | 263 | |
Provisions | 135,090 | 177,827 | |
Other liabilities | 700,034 | 708,914 | |
Liabilities directly associated with non-current assets held for sale | 0 | 0 | |
TOTAL LIABILITIES | 33,103,113 | 30,283,718 | |
Goodwill generated in business combination | 492,512 | 1,194,331 | |
Chile [member] | |||
Disclosure of geographical areas [line items] | |||
Cash and deposits in banks | 2,761,202 | 610,901 | |
Cash items in process of collection | 173,099 | 230,595 | |
Financial instruments at fair value through profit or loss | 145,671 | 112,224 | |
Financial instruments at fair value through other comprehensive income | 3,353,241 | 2,751,959 | |
Loans and accounts receivable at amortized cost and interbank loans | 17,503,371 | 17,651,839 | |
Investment in associates | 7,149 | 5,833 | |
Financial instruments at amortized cost | 7,202 | 30,123 | |
Investments under resale agreements | 84,173 | 46,686 | |
Financial derivative contracts | 3,817,286 | 3,061,530 | |
Intangible assets | 682,695 | 1,154,457 | |
Property, plant and equipment | 56,756 | 73,169 | |
Right of use asset under lease agreements | 117,513 | 128,868 | |
Current taxes | 44,976 | 30,773 | |
Deferred taxes | 264,668 | 200,747 | |
Other assets | 453,702 | 699,679 | |
Other non-current assets held for sale | 10,818 | 10,291 | |
TOTAL ASSETS | 29,483,522 | 26,799,674 | |
LIABILITIES | |||
Deposits and other demand liabilities | 3,939,501 | 2,765,496 | |
Cash in process of being cleared | 154,231 | 164,573 | |
Obligations under repurchase agreements | 399,593 | 499,136 | |
Time deposits and other time liabilities | 9,984,010 | 9,700,785 | |
Financial derivative contracts | 3,494,611 | 2,839,914 | |
Interbank borrowings | 3,393,160 | 1,883,900 | |
Debt instruments issued | 5,472,392 | 5,687,763 | |
Other financial liabilities | 13,123 | 12,966 | |
Lease contracts liabilities | 125,265 | 137,334 | |
Current taxes | 596 | 13 | |
Provisions | 33,310 | 88,579 | |
Other liabilities | 619,955 | 653,786 | |
Liabilities directly associated with non-current assets held for sale | 0 | 0 | |
TOTAL LIABILITIES | 27,629,747 | 24,434,245 | |
Colombia [member] | |||
Disclosure of geographical areas [line items] | |||
Cash and deposits in banks | 327,870 | 398,780 | |
Cash items in process of collection | 93 | 710 | |
Financial instruments at fair value through profit or loss | 437,039 | 71,478 | |
Financial instruments at fair value through other comprehensive income | 617,658 | 846,931 | |
Loans and accounts receivable at amortized cost and interbank loans | 4,079,858 | 4,659,254 | |
Investment in associates | 3,772 | ||
Financial instruments at amortized cost | 104,340 | 85,535 | |
Investments under resale agreements | 21,407 | 29,289 | |
Financial derivative contracts | 165,517 | 93,427 | |
Intangible assets | 35,988 | 419,976 | |
Property, plant and equipment | 23,859 | 21,911 | |
Right of use asset under lease agreements | 28,495 | 38,573 | |
Current taxes | 19,723 | 54,743 | |
Deferred taxes | 47,888 | 7,910 | |
Other assets | 88,931 | 71,182 | |
Other non-current assets held for sale | 4,260 | 6,911 | |
TOTAL ASSETS | 6,002,926 | 6,810,382 | |
LIABILITIES | |||
Deposits and other demand liabilities | 2,257,905 | 2,107,952 | |
Cash in process of being cleared | 1 | ||
Obligations under repurchase agreements | 239,258 | 60,321 | |
Time deposits and other time liabilities | 1,449,054 | 1,919,402 | |
Financial derivative contracts | 178,980 | 98,120 | |
Interbank borrowings | 405,818 | 762,856 | |
Debt instruments issued | 732,464 | 720,593 | |
Lease contracts liabilities | 26,620 | 35,590 | |
Current taxes | 1,170 | ||
Deferred taxes | 237 | 263 | |
Provisions | 101,780 | 89,248 | |
Other liabilities | 80,079 | 55,128 | |
Liabilities directly associated with non-current assets held for sale | 0 | 0 | |
TOTAL LIABILITIES | $ 5,473,366 | $ 5,849,473 |
Reporting Segments - Schedule_3
Reporting Segments - Schedule of Income (Detail) $ in Millions, in Millions | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | |||
Jun. 30, 2020CLP ($) | Jun. 30, 2020CLP ($) | Sep. 30, 2020CLP ($) | Dec. 31, 2020CLF ( ) | Dec. 31, 2020CLP ($) | Dec. 31, 2019CLP ($) | Dec. 31, 2018CLP ($) | |
Disclosure of geographical areas [line items] | |||||||
Net interest income | $ 866,437 | $ 900,418 | $ 887,663 | ||||
Fee and commission income and (expense) | 140,999 | 174,404 | 186,129 | ||||
Net income from financial operations | 110,887 | 143,634 | 172,755 | ||||
Net foreign exchange gain (loss) | (74,464) | 27,626 | (17,965) | ||||
Other operating income | 65,578 | 44,972 | 26,656 | ||||
Provision for loan losses | (466,230) | (382,678) | (279,798) | ||||
NET OPERATING PROFIT | 643,207 | 908,376 | 975,440 | ||||
Depreciation and amortization | (126,444) | (127,166) | (86,817) | ||||
Operating expenses | (1,455,334) | (609,367) | (654,710) | ||||
TOTAL OPERATING INCOME (LOSS) | (938,571) | 171,843 | 233,913 | ||||
Income (loss) from investment in associates | (2,794) | 532 | |||||
Income taxes | 115,210 | (47,853) | (67,059) | ||||
TOTAL CONSOLIDATED INCOME FOR THE YEAR | (826,155) | 124,522 | 166,854 | ||||
Impairment loss | $ 765,736 | $ (731,189) | 814,879 | ||||
Goodwill impairment | 651,825 | ||||||
Impairment loss recognised in profit or loss, intangible assets other than goodwill | 765,736 | ||||||
Softwares and Licenses [Member] | |||||||
Disclosure of geographical areas [line items] | |||||||
Impairment loss recognised in profit or loss, intangible assets other than goodwill | 38,849 | ||||||
Chile [member] | |||||||
Disclosure of geographical areas [line items] | |||||||
Net interest income | 626,214 | 614,186 | 614,685 | ||||
Fee and commission income and (expense) | 108,140 | 138,007 | 149,673 | ||||
Net income from financial operations | 25,031 | 152,600 | 128,264 | ||||
Net foreign exchange gain (loss) | (20,491) | (24,389) | 5,726 | ||||
Other operating income | 16,588 | 20,460 | 14,337 | ||||
Provision for loan losses | (310,429) | (295,116) | (127,804) | ||||
NET OPERATING PROFIT | 445,053 | 605,748 | 784,881 | ||||
Depreciation and amortization | (96,117) | (86,593) | (53,544) | ||||
Operating expenses | (896,152) | (394,271) | (442,943) | ||||
TOTAL OPERATING INCOME (LOSS) | (547,216) | 124,884 | 288,394 | ||||
Income (loss) from investment in associates | (2,794) | 800 | |||||
Income taxes | 73,965 | (33,393) | (85,269) | ||||
TOTAL CONSOLIDATED INCOME FOR THE YEAR | (476,045) | 92,291 | 203,125 | ||||
Goodwill impairment | $ 412,356 | 412,356 | |||||
Impairment loss recognised in profit or loss, intangible assets other than goodwill | 412,356 | ||||||
Chile [member] | Softwares and Licenses [Member] | |||||||
Disclosure of geographical areas [line items] | |||||||
Impairment loss recognised in profit or loss, intangible assets other than goodwill | 34,524 | ||||||
Chile [member] | Fixed assets [member] | |||||||
Disclosure of geographical areas [line items] | |||||||
Impairment | 10,294 | ||||||
Colombia [member] | |||||||
Disclosure of geographical areas [line items] | |||||||
Net interest income | 240,223 | 286,232 | 272,978 | ||||
Fee and commission income and (expense) | 32,859 | 36,397 | 36,456 | ||||
Net income from financial operations | 85,856 | (8,966) | 44,491 | ||||
Net foreign exchange gain (loss) | (53,973) | 52,015 | (23,691) | ||||
Other operating income | 48,990 | 24,512 | 12,319 | ||||
Provision for loan losses | (155,801) | (87,562) | (151,994) | ||||
NET OPERATING PROFIT | 198,154 | 302,628 | 190,559 | ||||
Depreciation and amortization | (30,327) | (40,573) | (33,273) | ||||
Operating expenses | (559,182) | (215,096) | (211,767) | ||||
TOTAL OPERATING INCOME (LOSS) | (391,355) | 46,959 | (54,481) | ||||
Income (loss) from investment in associates | (268) | ||||||
Income taxes | 41,245 | (14,460) | 18,210 | ||||
TOTAL CONSOLIDATED INCOME FOR THE YEAR | (350,110) | $ 32,231 | $ (36,271) | ||||
Goodwill impairment | 239,469 | 239,469 | |||||
Impairment loss recognised in profit or loss, intangible assets other than goodwill | $ 113,911 | 113,911 | 353,380 | ||||
Colombia [member] | Softwares and Licenses [Member] | |||||||
Disclosure of geographical areas [line items] | |||||||
Impairment loss recognised in profit or loss, intangible assets other than goodwill | $ 4,325 |
Cash and Cash Equivalents - Sch
Cash and Cash Equivalents - Schedule of Balances included under Cash and Cash Equivalents (Detail) - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Cash and deposits in banks | ||||
Cash | $ 254,200 | $ 253,779 | ||
Deposits in the Central Bank of Chile | 1,067,421 | 103,756 | ||
Deposits in local banks | 27,017 | 14,254 | ||
Deposits in foreign banks | 1,740,434 | 637,892 | ||
Subtotals cash and deposits in banks | 3,089,072 | 1,009,681 | ||
Cash items in process of collection, net | 18,960 | 66,732 | ||
Highly liquid financial instruments | 1,337,754 | 295,551 | ||
Investments under resale agreements | 60,470 | 75,975 | ||
Totals cash and cash equivalents | $ 4,506,256 | $ 1,447,939 | $ 1,363,052 | $ 1,075,089 |
Cash and Cash Equivalents - Sum
Cash and Cash Equivalents - Summary of Highly Liquid Financial Instruments (Detail) - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Highly liquid financial instruments | ||
Highly liquid financial instruments | $ 1,337,754 | $ 295,551 |
Financial assets at fair value through profit or loss, category [member] | ||
Highly liquid financial instruments | ||
Highly liquid financial instruments | 132,043 | 28,772 |
Financial assets at fair value through other comprehensive income [member] | ||
Highly liquid financial instruments | ||
Highly liquid financial instruments | $ 1,205,711 | $ 266,779 |
Cash and Cash Equivalents - S_2
Cash and Cash Equivalents - Schedule of Investment Under Agreement to Resell (Detail) - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Cash and cash equivalents [abstract] | ||
Investment under resale agreements | $ 60,470 | $ 75,975 |
Cash and Cash Equivalents - S_3
Cash and Cash Equivalents - Schedule of Cash in the Process of Collection (Detail) - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Assets | ||
Documents held by other banks (documents to be cleared) | $ 37,030 | $ 76,922 |
Funds receivable | 136,162 | 154,383 |
Subtotals assets | 173,192 | 231,305 |
Liabilities | ||
Funds payable | 154,232 | 164,573 |
Subtotals liabilities | 154,232 | 164,573 |
Cash items in process of collection, net | $ 18,960 | $ 66,732 |
Financial Instruments at Fair_3
Financial Instruments at Fair Value through Profit or Loss - Schedule of Financial Instruments at Fair Value Through Profit or Loss (Detail) - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of financial assets [line items] | ||
Financial instruments at fair value through profit or loss | $ 582,710 | $ 183,702 |
IFRS9 [member] | ||
Disclosure of financial assets [line items] | ||
Financial instruments at fair value through profit or loss | 582,710 | 183,702 |
Financial instruments at fair value through profit or loss within three months | 132,043 | 28,772 |
IFRS9 [member] | Chilean Central Bank And Government Security [member] | Chilean Central Bank Securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial instruments at fair value through profit or loss | 21,369 | 52,019 |
IFRS9 [member] | Chilean Central Bank And Government Security [member] | Other Chilean Central Bank and Government Securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial instruments at fair value through profit or loss | 86,673 | 28,879 |
IFRS9 [member] | Other Chilean securities [member] | Bonds [member] | ||
Disclosure of financial assets [line items] | ||
Financial instruments at fair value through profit or loss | 271 | 905 |
IFRS9 [member] | Other Chilean securities [member] | Other Securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial instruments at fair value through profit or loss | 22,218 | |
IFRS9 [member] | Foreign Financial Securities [member] | Bonds [member] | ||
Disclosure of financial assets [line items] | ||
Financial instruments at fair value through profit or loss | 432,178 | 67,088 |
IFRS9 [member] | Foreign Financial Securities [member] | Other Securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial instruments at fair value through profit or loss | 4,390 | |
IFRS9 [member] | Investments in mutual funds [member] | Funds managed by related subsidiaries [member] | ||
Disclosure of financial assets [line items] | ||
Financial instruments at fair value through profit or loss | 4,861 | 5,870 |
IFRS9 [member] | Investments in mutual funds [member] | Funds managed by third parties [member] | ||
Disclosure of financial assets [line items] | ||
Financial instruments at fair value through profit or loss | 35,017 | 33 |
IFRS9 [member] | Other Investment [member] | Other Financial instruments at fair value through profit loss [member] | ||
Disclosure of financial assets [line items] | ||
Financial instruments at fair value through profit or loss | $ 2,341 | $ 2,300 |
Financial Instruments at Fair_4
Financial Instruments at Fair Value through Profit or Loss - Additional Information (Detail) - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of financial assets [line items] | ||
Financial instruments at fair value through profit or loss | $ 582,710 | $ 183,702 |
IFRS9 [member] | ||
Disclosure of financial assets [line items] | ||
Financial instruments at fair value through profit or loss | $ 582,710 | $ 183,702 |
Investments Under Resale Agre_3
Investments Under Resale Agreements and Obligations Under Repurchase Agreements - Schedule of Instruments Acquired Under Agreements to Resell (Detail) - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of financial assets [line items] | ||
Financial assets purchased agreed to resell | $ 105,580 | $ 75,975 |
Foreign Institution Securities [member] | Chilean Central Bank and Government Securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets purchased agreed to resell | 15,549 | 27,546 |
Foreign Institution Securities [member] | Other Foreign Securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets purchased agreed to resell | 5,858 | 1,742 |
Other Chilean securities [member] | Bonds [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets purchased agreed to resell | 40,540 | 8,603 |
Chilean Central Bank and Government Securities [member] | Chilean Central Bank Securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets purchased agreed to resell | 20,593 | |
Chilean Central Bank and Government Securities [member] | Government Securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets purchased agreed to resell | 43,633 | 17,491 |
Up to three months [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets purchased agreed to resell | 60,470 | 75,975 |
Up to three months [member] | Foreign Institution Securities [member] | Chilean Central Bank and Government Securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets purchased agreed to resell | 14,072 | 27,546 |
Up to three months [member] | Foreign Institution Securities [member] | Other Foreign Securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets purchased agreed to resell | 5,858 | 1,742 |
Up to three months [member] | Other Chilean securities [member] | Bonds [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets purchased agreed to resell | 40,540 | 8,603 |
Up to three months [member] | Chilean Central Bank and Government Securities [member] | Chilean Central Bank Securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets purchased agreed to resell | 20,593 | |
Up to three months [member] | Chilean Central Bank and Government Securities [member] | Government Securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets purchased agreed to resell | $ 17,491 | |
3 months to 1 year [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets purchased agreed to resell | 43,633 | |
3 months to 1 year [member] | Chilean Central Bank and Government Securities [member] | Government Securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets purchased agreed to resell | 43,633 | |
More than 1 year [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets purchased agreed to resell | 1,477 | |
More than 1 year [member] | Foreign Institution Securities [member] | Chilean Central Bank and Government Securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets purchased agreed to resell | $ 1,477 |
Investments Under Resale Agre_4
Investments Under Resale Agreements and Obligations Under Repurchase Agreements - Schedule of Instruments Acquired Under Agreements to Repurchase (Detail) - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of financial assets [line items] | ||
Financial instrument sold in agreement to repurchase | $ 638,851 | $ 559,457 |
Other Chilean securities [member] | Bonds [member] | ||
Disclosure of financial assets [line items] | ||
Financial instrument sold in agreement to repurchase | 39,691 | 318,389 |
Foreign Institution Securities [member] | Other Foreign Securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial instrument sold in agreement to repurchase | 239,258 | 60,320 |
Chilean Central Bank and Government Securities [member] | Chilean Central Bank Securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial instrument sold in agreement to repurchase | 310,565 | 168,778 |
Chilean Central Bank and Government Securities [member] | Government Securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial instrument sold in agreement to repurchase | 49,337 | 11,970 |
Up to three months [member] | ||
Disclosure of financial assets [line items] | ||
Financial instrument sold in agreement to repurchase | 638,851 | 559,457 |
Up to three months [member] | Other Chilean securities [member] | Bonds [member] | ||
Disclosure of financial assets [line items] | ||
Financial instrument sold in agreement to repurchase | 39,691 | 318,389 |
Up to three months [member] | Foreign Institution Securities [member] | Other Foreign Securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial instrument sold in agreement to repurchase | 239,258 | 60,320 |
Up to three months [member] | Chilean Central Bank and Government Securities [member] | Chilean Central Bank Securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial instrument sold in agreement to repurchase | 310,565 | 168,778 |
Up to three months [member] | Chilean Central Bank and Government Securities [member] | Government Securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial instrument sold in agreement to repurchase | $ 49,337 | $ 11,970 |
Financial Derivative Contract_3
Financial Derivative Contracts and Hedge Accounting - Schedule of Portfolio of Financial Derivatives Assets (Detail) - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of detailed information about financial instruments [line items] | ||
Assets | $ 3,982,803 | $ 3,154,957 |
Liabilities | 3,673,591 | 2,938,034 |
Derivatives held for hedge accounting [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Assets | 306,472 | 203,868 |
Liabilities | 162,450 | 144,069 |
Derivatives Held For Trading [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Assets | 3,676,331 | 2,951,089 |
Liabilities | $ 3,511,141 | $ 2,793,965 |
Financial Derivative Contract_4
Financial Derivative Contracts and Hedge Accounting - Schedule of Portfolio of Derivative Financial Instruments (Detail) - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of detailed information about hedged items [line items] | ||
Fair Value | $ 3,982,803 | $ 3,154,957 |
Derivative financial instruments | ||
Disclosure of detailed information about hedged items [line items] | ||
Fair Value | 3,982,803 | 3,154,957 |
Derivative financial instruments | Forward Contract [Member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Fair Value | 472,208 | 454,300 |
Derivative financial instruments | Currency Swap Contract [Member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Fair Value | 938,762 | 855,780 |
Derivative financial instruments | Interest rate swap [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Fair Value | 2,570,553 | 1,840,855 |
Derivative financial instruments | Currency call options [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Fair Value | 195 | 3,805 |
Derivative financial instruments | Currency put options [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Fair Value | 1,085 | 217 |
Up to three months [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 23,753,318 | 27,353,040 |
Up to three months [member] | Derivative financial instruments | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 11,979,567 | 12,558,245 |
Up to three months [member] | Derivative financial instruments | Forward Contract [Member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 7,882,839 | 8,174,950 |
Up to three months [member] | Derivative financial instruments | Currency Swap Contract [Member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 246,599 | 217,953 |
Up to three months [member] | Derivative financial instruments | Interest rate swap [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 3,828,930 | 4,125,562 |
Up to three months [member] | Derivative financial instruments | Currency call options [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 13,402 | 34,713 |
Up to three months [member] | Derivative financial instruments | Currency put options [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 7,797 | 5,067 |
3 months to 1 year [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 18,910,724 | 23,611,250 |
3 months to 1 year [member] | Derivative financial instruments | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 9,741,905 | 12,146,094 |
3 months to 1 year [member] | Derivative financial instruments | Forward Contract [Member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 2,358,854 | 3,931,647 |
3 months to 1 year [member] | Derivative financial instruments | Currency Swap Contract [Member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 932,372 | 923,526 |
3 months to 1 year [member] | Derivative financial instruments | Interest rate swap [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 6,424,682 | 7,225,228 |
3 months to 1 year [member] | Derivative financial instruments | Currency call options [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 15,483 | 49,753 |
3 months to 1 year [member] | Derivative financial instruments | Currency put options [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 10,514 | 15,940 |
More than 1 year [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 70,915,083 | 75,628,987 |
More than 1 year [member] | Derivative financial instruments | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 35,094,355 | 39,185,317 |
More than 1 year [member] | Derivative financial instruments | Forward Contract [Member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 417,178 | 1,234,741 |
More than 1 year [member] | Derivative financial instruments | Currency Swap Contract [Member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 8,656,771 | 6,640,937 |
More than 1 year [member] | Derivative financial instruments | Interest rate swap [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | $ 26,020,406 | 31,308,891 |
More than 1 year [member] | Derivative financial instruments | Currency call options [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | $ 748 |
Financial Derivative Contract_5
Financial Derivative Contracts and Hedge Accounting - Schedule of Portfolio of Derivative Financial Instruments for Account Hedging and for Trading Purposes (Detail) - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of detailed information about hedged items [line items] | ||
Fair Value | $ 3,673,591 | $ 2,938,034 |
Derivative Financial Instruments Liabilities [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Fair Value | 3,673,591 | 2,938,034 |
Derivative Financial Instruments Liabilities [member] | Forward Contract [Member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Fair Value | 433,863 | 504,276 |
Derivative Financial Instruments Liabilities [member] | Currency Swap Contract [Member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Fair Value | 775,122 | 769,072 |
Derivative Financial Instruments Liabilities [member] | Interest rate swap [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Fair Value | 2,463,249 | 1,662,363 |
Derivative Financial Instruments Liabilities [member] | Currency call options [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Fair Value | 271 | 1,758 |
Derivative Financial Instruments Liabilities [member] | Currency put options [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Fair Value | 1,086 | 565 |
Up to three months [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 23,753,318 | 27,353,040 |
Up to three months [member] | Derivative Financial Instruments Liabilities [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 11,773,751 | 14,794,795 |
Up to three months [member] | Derivative Financial Instruments Liabilities [member] | Forward Contract [Member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 7,913,739 | 11,622,926 |
Up to three months [member] | Derivative Financial Instruments Liabilities [member] | Currency Swap Contract [Member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 335,192 | 182,481 |
Up to three months [member] | Derivative Financial Instruments Liabilities [member] | Interest rate swap [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 3,509,633 | 2,939,069 |
Up to three months [member] | Derivative Financial Instruments Liabilities [member] | Currency call options [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 9,434 | 31,482 |
Up to three months [member] | Derivative Financial Instruments Liabilities [member] | Currency put options [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 5,753 | 18,837 |
3 months to 1 year [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 18,910,724 | 23,611,250 |
3 months to 1 year [member] | Derivative Financial Instruments Liabilities [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 9,168,819 | 11,465,156 |
3 months to 1 year [member] | Derivative Financial Instruments Liabilities [member] | Forward Contract [Member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 1,989,333 | 4,440,565 |
3 months to 1 year [member] | Derivative Financial Instruments Liabilities [member] | Currency Swap Contract [Member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 953,275 | 831,635 |
3 months to 1 year [member] | Derivative Financial Instruments Liabilities [member] | Interest rate swap [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 6,205,021 | 6,101,205 |
3 months to 1 year [member] | Derivative Financial Instruments Liabilities [member] | Currency call options [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 15,404 | 51,810 |
3 months to 1 year [member] | Derivative Financial Instruments Liabilities [member] | Currency put options [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 5,786 | 39,941 |
More than 1 year [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 70,915,083 | 75,628,987 |
More than 1 year [member] | Derivative Financial Instruments Liabilities [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 35,820,728 | 36,443,670 |
More than 1 year [member] | Derivative Financial Instruments Liabilities [member] | Forward Contract [Member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 935,565 | 830,870 |
More than 1 year [member] | Derivative Financial Instruments Liabilities [member] | Currency Swap Contract [Member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 7,480,516 | 6,249,881 |
More than 1 year [member] | Derivative Financial Instruments Liabilities [member] | Interest rate swap [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | $ 27,404,647 | 29,362,545 |
More than 1 year [member] | Derivative Financial Instruments Liabilities [member] | Currency put options [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | $ 374 |
Financial Derivative Contract_6
Financial Derivative Contracts and Hedge Accounting - Schedule of Portfolio of Derivative Financial Instruments for Hedge Accounting and Trading Purposes (Detail) - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of detailed information about hedged items [line items] | ||
Fair Value Assets | $ 3,982,803 | $ 3,154,957 |
Fair Value Liabilities | 3,673,591 | 2,938,034 |
Derivatives held for hedge accounting [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Fair Value Assets | 306,472 | 203,868 |
Fair Value Liabilities | 162,450 | 144,069 |
Derivatives Held For Trading [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Fair Value Assets | 3,676,331 | 2,951,089 |
Fair Value Liabilities | 3,511,141 | 2,793,965 |
Forward Contract [Member] | Derivatives Held For Trading [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Fair Value Assets | 381,409 | 411,310 |
Fair Value Liabilities | 333,356 | 420,456 |
Currency Swap Contract [Member] | Derivatives Held For Trading [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Fair Value Assets | 929,096 | 849,635 |
Fair Value Liabilities | 775,122 | 764,890 |
Interest rate swap [member] | Derivatives Held For Trading [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Fair Value Assets | 2,364,546 | 1,686,122 |
Fair Value Liabilities | 2,401,306 | 1,606,296 |
Currency call options [member] | Derivatives Held For Trading [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Fair Value Assets | 195 | 3,805 |
Fair Value Liabilities | 271 | 1,758 |
Currency put options [member] | Derivatives Held For Trading [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Fair Value Assets | 1,085 | 217 |
Fair Value Liabilities | 1,086 | 565 |
Fair Value Hedges [Member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 2,236,846 | 2,029,773 |
Fair Value Hedges [Member] | Derivatives held for hedge accounting [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Fair Value Assets | 213,579 | 152,011 |
Fair Value Liabilities | 61,705 | 51,726 |
Fair Value Hedges [Member] | Currency Swap Contract [Member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 74,894 | 47,463 |
Fair Value Hedges [Member] | Currency Swap Contract [Member] | Derivatives held for hedge accounting [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Fair Value Assets | 9,666 | |
Fair Value Liabilities | 1,479 | |
Fair Value Hedges [Member] | Interest rate swap [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 2,161,952 | 1,982,310 |
Fair Value Hedges [Member] | Interest rate swap [member] | Derivatives held for hedge accounting [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Fair Value Assets | 203,913 | 152,011 |
Fair Value Liabilities | 61,705 | 50,247 |
Cash Flow Hedges [Member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 2,633,896 | 3,427,756 |
Cash Flow Hedges [Member] | Derivatives held for hedge accounting [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Fair Value Assets | 6,013 | 13,041 |
Fair Value Liabilities | 33,350 | 26,321 |
Cash Flow Hedges [Member] | Forward Contract [Member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 2,552,797 | 2,832,572 |
Cash Flow Hedges [Member] | Forward Contract [Member] | Derivatives held for hedge accounting [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Fair Value Assets | 3,919 | 4,174 |
Fair Value Liabilities | 33,112 | 17,798 |
Cash Flow Hedges [Member] | Currency Swap Contract [Member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 125,747 | |
Cash Flow Hedges [Member] | Currency Swap Contract [Member] | Derivatives held for hedge accounting [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Fair Value Assets | 6,145 | |
Fair Value Liabilities | 2,703 | |
Cash Flow Hedges [Member] | Interest rate swap [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 81,099 | 469,437 |
Cash Flow Hedges [Member] | Interest rate swap [member] | Derivatives held for hedge accounting [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Fair Value Assets | 2,094 | 2,722 |
Fair Value Liabilities | 238 | 5,820 |
Hedges of net investment in foreign operations [member] | Derivatives held for hedge accounting [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Fair Value Assets | 86,880 | 38,816 |
Fair Value Liabilities | 67,395 | 66,022 |
Hedges of net investment in foreign operations [member] | Forward Contract [Member] | Derivatives held for hedge accounting [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Fair Value Assets | 86,880 | 38,816 |
Fair Value Liabilities | 67,395 | 66,022 |
Up to three months [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 23,753,318 | 27,353,040 |
Up to three months [member] | Derivatives held for hedge accounting [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 3,704,562 | 3,679,576 |
Up to three months [member] | Derivatives Held For Trading [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 20,048,756 | 23,673,464 |
Up to three months [member] | Forward Contract [Member] | Derivatives Held For Trading [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 12,096,016 | 16,150,708 |
Up to three months [member] | Currency Swap Contract [Member] | Derivatives Held For Trading [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 581,791 | 400,434 |
Up to three months [member] | Interest rate swap [member] | Derivatives Held For Trading [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 7,334,563 | 7,032,223 |
Up to three months [member] | Currency call options [member] | Derivatives Held For Trading [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 22,836 | 66,195 |
Up to three months [member] | Currency put options [member] | Derivatives Held For Trading [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 13,550 | 23,904 |
Up to three months [member] | Cash Flow Hedges [Member] | Derivatives held for hedge accounting [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 1,661,848 | 1,459,105 |
Up to three months [member] | Cash Flow Hedges [Member] | Forward Contract [Member] | Derivatives held for hedge accounting [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 1,657,848 | 1,426,697 |
Up to three months [member] | Cash Flow Hedges [Member] | Interest rate swap [member] | Derivatives held for hedge accounting [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 4,000 | 32,408 |
Up to three months [member] | Hedges of net investment in foreign operations [member] | Derivatives held for hedge accounting [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 2,042,714 | 2,220,471 |
Up to three months [member] | Hedges of net investment in foreign operations [member] | Forward Contract [Member] | Derivatives held for hedge accounting [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 2,042,714 | 2,220,471 |
3 months to 1 year [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 18,910,724 | 23,611,250 |
3 months to 1 year [member] | Derivatives held for hedge accounting [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 965,569 | 1,371,790 |
3 months to 1 year [member] | Derivatives Held For Trading [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 17,945,155 | 22,239,460 |
3 months to 1 year [member] | Forward Contract [Member] | Derivatives Held For Trading [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 3,613,044 | 7,076,919 |
3 months to 1 year [member] | Currency Swap Contract [Member] | Derivatives Held For Trading [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 1,885,647 | 1,708,006 |
3 months to 1 year [member] | Interest rate swap [member] | Derivatives Held For Trading [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 12,399,277 | 13,297,091 |
3 months to 1 year [member] | Currency call options [member] | Derivatives Held For Trading [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 30,887 | 101,563 |
3 months to 1 year [member] | Currency put options [member] | Derivatives Held For Trading [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 16,300 | 55,881 |
3 months to 1 year [member] | Fair Value Hedges [Member] | Derivatives held for hedge accounting [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 201,193 | 29,342 |
3 months to 1 year [member] | Fair Value Hedges [Member] | Interest rate swap [member] | Derivatives held for hedge accounting [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 201,193 | 29,342 |
3 months to 1 year [member] | Cash Flow Hedges [Member] | Derivatives held for hedge accounting [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 746,075 | 896,398 |
3 months to 1 year [member] | Cash Flow Hedges [Member] | Forward Contract [Member] | Derivatives held for hedge accounting [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 716,842 | 849,243 |
3 months to 1 year [member] | Cash Flow Hedges [Member] | Currency Swap Contract [Member] | Derivatives held for hedge accounting [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 47,155 | |
3 months to 1 year [member] | Cash Flow Hedges [Member] | Interest rate swap [member] | Derivatives held for hedge accounting [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 29,233 | |
3 months to 1 year [member] | Hedges of net investment in foreign operations [member] | Derivatives held for hedge accounting [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 18,301 | 446,050 |
3 months to 1 year [member] | Hedges of net investment in foreign operations [member] | Forward Contract [Member] | Derivatives held for hedge accounting [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 18,301 | 446,050 |
More than 1 year [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 70,915,083 | 75,628,987 |
More than 1 year [member] | Derivatives held for hedge accounting [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 2,261,626 | 3,072,685 |
More than 1 year [member] | Derivatives Held For Trading [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 68,653,457 | 72,556,302 |
More than 1 year [member] | Forward Contract [Member] | Derivatives Held For Trading [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 1,174,636 | 1,508,978 |
More than 1 year [member] | Currency Swap Contract [Member] | Derivatives Held For Trading [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 16,062,393 | 12,764,763 |
More than 1 year [member] | Interest rate swap [member] | Derivatives Held For Trading [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 51,416,428 | 58,281,439 |
More than 1 year [member] | Currency call options [member] | Derivatives Held For Trading [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 748 | |
More than 1 year [member] | Currency put options [member] | Derivatives Held For Trading [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 374 | |
More than 1 year [member] | Fair Value Hedges [Member] | Derivatives held for hedge accounting [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 2,035,653 | 2,000,431 |
More than 1 year [member] | Fair Value Hedges [Member] | Currency Swap Contract [Member] | Derivatives held for hedge accounting [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 74,894 | 47,463 |
More than 1 year [member] | Fair Value Hedges [Member] | Interest rate swap [member] | Derivatives held for hedge accounting [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 1,960,759 | 1,952,968 |
More than 1 year [member] | Cash Flow Hedges [Member] | Derivatives held for hedge accounting [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 225,973 | 1,072,254 |
More than 1 year [member] | Cash Flow Hedges [Member] | Forward Contract [Member] | Derivatives held for hedge accounting [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 178,107 | 556,633 |
More than 1 year [member] | Cash Flow Hedges [Member] | Currency Swap Contract [Member] | Derivatives held for hedge accounting [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 78,592 | |
More than 1 year [member] | Cash Flow Hedges [Member] | Interest rate swap [member] | Derivatives held for hedge accounting [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | $ 47,866 | $ 437,029 |
Financial Derivative Contract_7
Financial Derivative Contracts and Hedge Accounting - Schedule of the Hedged Items and the Hedging Instrument at Fair Value (Detail) - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
1 year [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | $ 2,061,015 | $ 2,666,521 |
Fair Value Hedges [Member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 2,236,846 | 2,029,773 |
Fair Value Hedges [Member] | Currency Swap Contract [Member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 74,894 | 47,463 |
Fair Value Hedges [Member] | Interest rate swap [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 2,161,952 | 1,982,310 |
Fair Value Hedges [Member] | Hedged Instruments Net Of Prepayments [Member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 2,237,102 | 2,030,055 |
Fair Value Hedges [Member] | Commercial and mortgage loans [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 1,032 | |
Fair Value Hedges [Member] | Mortgage loans [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 663,053 | 685,855 |
Fair Value Hedges [Member] | Time deposits [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 26,289 | |
Fair Value Hedges [Member] | Chilean Treasury Bonds [Member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 255,652 | 128,094 |
Fair Value Hedges [Member] | Current bonds [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 1,216,114 | 1,215,074 |
Fair Value Hedges [Member] | Interbank loans [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 75,994 | |
Fair Value Hedges [Member] | 1 year [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 201,193 | 29,342 |
Fair Value Hedges [Member] | 1 year [member] | Interest rate swap [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 201,193 | 29,342 |
Fair Value Hedges [Member] | 1 year [member] | Hedged Instruments Net Of Prepayments [Member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 201,449 | 29,342 |
Fair Value Hedges [Member] | 1 year [member] | Commercial and mortgage loans [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 1,032 | |
Fair Value Hedges [Member] | 1 year [member] | Mortgage loans [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 162,429 | |
Fair Value Hedges [Member] | 1 year [member] | Chilean Treasury Bonds [Member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 9,950 | |
Fair Value Hedges [Member] | 1 year [member] | Current bonds [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 29,070 | 28,310 |
Fair Value Hedges [Member] | 1 - 3 years [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 596,281 | 492,891 |
Fair Value Hedges [Member] | 1 - 3 years [member] | Currency Swap Contract [Member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 74,894 | 47,463 |
Fair Value Hedges [Member] | 1 - 3 years [member] | Interest rate swap [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 521,387 | 445,428 |
Fair Value Hedges [Member] | 1 - 3 years [member] | Hedged Instruments Net Of Prepayments [Member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 596,281 | 493,173 |
Fair Value Hedges [Member] | 1 - 3 years [member] | Mortgage loans [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 242,180 | 342,159 |
Fair Value Hedges [Member] | 1 - 3 years [member] | Time deposits [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 20,472 | |
Fair Value Hedges [Member] | 1 - 3 years [member] | Chilean Treasury Bonds [Member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 187,635 | 52,704 |
Fair Value Hedges [Member] | 1 - 3 years [member] | Current bonds [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 70,000 | 98,310 |
Fair Value Hedges [Member] | 1 - 3 years [member] | Interbank loans [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 75,994 | |
Fair Value Hedges [Member] | 3 to 6 years [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 471,187 | 211,181 |
Fair Value Hedges [Member] | 3 to 6 years [member] | Interest rate swap [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 471,187 | 211,181 |
Fair Value Hedges [Member] | 3 to 6 years [member] | Hedged Instruments Net Of Prepayments [Member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 471,187 | 211,181 |
Fair Value Hedges [Member] | 3 to 6 years [member] | Mortgage loans [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 16,753 | 80,629 |
Fair Value Hedges [Member] | 3 to 6 years [member] | Time deposits [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 5,817 | |
Fair Value Hedges [Member] | 3 to 6 years [member] | Chilean Treasury Bonds [Member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 20,540 | 49,932 |
Fair Value Hedges [Member] | 3 to 6 years [member] | Current bonds [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 428,077 | 80,620 |
Fair Value Hedges [Member] | Over 6 years [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 968,185 | 1,296,359 |
Fair Value Hedges [Member] | Over 6 years [member] | Interest rate swap [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 968,185 | 1,296,359 |
Fair Value Hedges [Member] | Over 6 years [member] | Hedged Instruments Net Of Prepayments [Member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 968,185 | 1,296,359 |
Fair Value Hedges [Member] | Over 6 years [member] | Mortgage loans [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 241,691 | 263,067 |
Fair Value Hedges [Member] | Over 6 years [member] | Chilean Treasury Bonds [Member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 37,527 | 25,458 |
Fair Value Hedges [Member] | Over 6 years [member] | Current bonds [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | $ 688,967 | $ 1,007,834 |
Financial Derivative Contract_8
Financial Derivative Contracts and Hedge Accounting - Schedule of Forecasted Cash Flows by Interest Rate Risk, Fair Value Hedges (Detail) - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
1 year [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | $ 2,061,015 | $ 2,666,521 |
Fair Value Hedges [Member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 2,236,846 | 2,029,773 |
Fair Value Hedges [Member] | 1 year [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 201,193 | 29,342 |
Fair Value Hedges [Member] | 1 - 3 years [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 596,281 | 492,891 |
Fair Value Hedges [Member] | 3 to 6 years [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 471,187 | 211,181 |
Fair Value Hedges [Member] | Over 6 years [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 968,185 | 1,296,359 |
Interest rate risk [member] | Fair Value Hedges [Member] | Increase (decrease) in hedged items [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | (22,133) | (171,288) |
Interest rate risk [member] | Fair Value Hedges [Member] | Increase (decrease) in hedging instrument [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 22,389 | 171,570 |
Interest rate risk [member] | Fair Value Hedges [Member] | Inflows [member] | Increase (decrease) in hedged items [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 219,331 | 94,600 |
Interest rate risk [member] | Fair Value Hedges [Member] | Inflows [member] | Increase (decrease) in hedging instrument [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | (219,075) | 265,888 |
Interest rate risk [member] | Fair Value Hedges [Member] | Outflows [member] | Increase (decrease) in hedged items [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | (241,464) | (265,888) |
Interest rate risk [member] | Fair Value Hedges [Member] | Outflows [member] | Increase (decrease) in hedging instrument [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 241,464 | (94,318) |
Interest rate risk [member] | Fair Value Hedges [Member] | 1 year [member] | Increase (decrease) in hedged items [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | (5,952) | (35,905) |
Interest rate risk [member] | Fair Value Hedges [Member] | 1 year [member] | Increase (decrease) in hedging instrument [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 6,208 | 35,905 |
Interest rate risk [member] | Fair Value Hedges [Member] | 1 year [member] | Inflows [member] | Increase (decrease) in hedged items [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 12,496 | 9,890 |
Interest rate risk [member] | Fair Value Hedges [Member] | 1 year [member] | Inflows [member] | Increase (decrease) in hedging instrument [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | (12,240) | 45,795 |
Interest rate risk [member] | Fair Value Hedges [Member] | 1 year [member] | Outflows [member] | Increase (decrease) in hedged items [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | (18,448) | (45,795) |
Interest rate risk [member] | Fair Value Hedges [Member] | 1 year [member] | Outflows [member] | Increase (decrease) in hedging instrument [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 18,448 | (9,890) |
Interest rate risk [member] | Fair Value Hedges [Member] | 1 - 3 years [member] | Increase (decrease) in hedged items [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 61,036 | 30,759 |
Interest rate risk [member] | Fair Value Hedges [Member] | 1 - 3 years [member] | Increase (decrease) in hedging instrument [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | (61,036) | (30,477) |
Interest rate risk [member] | Fair Value Hedges [Member] | 1 - 3 years [member] | Inflows [member] | Increase (decrease) in hedged items [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 191,835 | 66,797 |
Interest rate risk [member] | Fair Value Hedges [Member] | 1 - 3 years [member] | Inflows [member] | Increase (decrease) in hedging instrument [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | (191,835) | 36,038 |
Interest rate risk [member] | Fair Value Hedges [Member] | 1 - 3 years [member] | Outflows [member] | Increase (decrease) in hedged items [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | (130,799) | (36,038) |
Interest rate risk [member] | Fair Value Hedges [Member] | 1 - 3 years [member] | Outflows [member] | Increase (decrease) in hedging instrument [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 130,799 | (66,515) |
Interest rate risk [member] | Fair Value Hedges [Member] | 3 to 6 years [member] | Increase (decrease) in hedged items [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | (37,341) | (116,252) |
Interest rate risk [member] | Fair Value Hedges [Member] | 3 to 6 years [member] | Increase (decrease) in hedging instrument [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 37,341 | 116,252 |
Interest rate risk [member] | Fair Value Hedges [Member] | 3 to 6 years [member] | Inflows [member] | Increase (decrease) in hedged items [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 11,437 | 13,343 |
Interest rate risk [member] | Fair Value Hedges [Member] | 3 to 6 years [member] | Inflows [member] | Increase (decrease) in hedging instrument [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | (11,437) | 129,595 |
Interest rate risk [member] | Fair Value Hedges [Member] | 3 to 6 years [member] | Outflows [member] | Increase (decrease) in hedged items [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | (48,778) | (129,595) |
Interest rate risk [member] | Fair Value Hedges [Member] | 3 to 6 years [member] | Outflows [member] | Increase (decrease) in hedging instrument [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 48,778 | (13,343) |
Interest rate risk [member] | Fair Value Hedges [Member] | Over 6 years [member] | Increase (decrease) in hedged items [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | (39,876) | (49,890) |
Interest rate risk [member] | Fair Value Hedges [Member] | Over 6 years [member] | Increase (decrease) in hedging instrument [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 39,876 | 49,890 |
Interest rate risk [member] | Fair Value Hedges [Member] | Over 6 years [member] | Inflows [member] | Increase (decrease) in hedged items [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 3,563 | 4,570 |
Interest rate risk [member] | Fair Value Hedges [Member] | Over 6 years [member] | Inflows [member] | Increase (decrease) in hedging instrument [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | (3,563) | 54,460 |
Interest rate risk [member] | Fair Value Hedges [Member] | Over 6 years [member] | Outflows [member] | Increase (decrease) in hedged items [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | (43,439) | (54,460) |
Interest rate risk [member] | Fair Value Hedges [Member] | Over 6 years [member] | Outflows [member] | Increase (decrease) in hedging instrument [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | $ 43,439 | $ (4,570) |
Financial Derivative Contract_9
Financial Derivative Contracts and Hedge Accounting - Schedule of Nominal Values of the Hedged Item (Detail) $ in Millions, $ in Millions | Dec. 31, 2020USD ($) | Dec. 31, 2020CLP ($) | Dec. 31, 2019USD ($) | Dec. 31, 2019CLP ($) |
1 year [member] | ||||
Disclosure of detailed information about hedged items [line items] | ||||
Notional value | $ 2,061,015 | $ 2,666,521 | ||
Cash Flow Hedges [Member] | ||||
Disclosure of detailed information about hedged items [line items] | ||||
Notional value | 2,633,896 | 3,427,756 | ||
Cash Flow Hedges [Member] | Forward Contract [Member] | ||||
Disclosure of detailed information about hedged items [line items] | ||||
Notional value | 2,552,797 | 2,832,572 | ||
Cash Flow Hedges [Member] | Currency Swap Contract [Member] | ||||
Disclosure of detailed information about hedged items [line items] | ||||
Notional value | 125,747 | |||
Cash Flow Hedges [Member] | Interest rate swap [member] | ||||
Disclosure of detailed information about hedged items [line items] | ||||
Notional value | 81,099 | 469,437 | ||
Cash Flow Hedges [Member] | Loan [Member] | ||||
Disclosure of detailed information about hedged items [line items] | ||||
Notional value | 2,277,718 | 2,370,808 | ||
Cash Flow Hedges [Member] | Commercial loans [member] | ||||
Disclosure of detailed information about hedged items [line items] | ||||
Notional value | 43,000 | 48,000 | ||
Cash Flow Hedges [Member] | Time deposits [member] | ||||
Disclosure of detailed information about hedged items [line items] | ||||
Notional value | 411,341 | |||
Cash Flow Hedges [Member] | Current bonds [member] | ||||
Disclosure of detailed information about hedged items [line items] | ||||
Notional value | 27,866 | |||
Cash Flow Hedges [Member] | Interbank loans [member] | ||||
Disclosure of detailed information about hedged items [line items] | ||||
Notional value | 244,516 | 554,628 | ||
Cash Flow Hedges [Member] | Payment in USD [Member] | ||||
Disclosure of detailed information about hedged items [line items] | ||||
Notional value | $ 40,796 | $ 42,979 | ||
Cash Flow Hedges [Member] | 1 year [member] | ||||
Disclosure of detailed information about hedged items [line items] | ||||
Notional value | 2,407,923 | 2,355,502 | ||
Cash Flow Hedges [Member] | 1 year [member] | Forward Contract [Member] | ||||
Disclosure of detailed information about hedged items [line items] | ||||
Notional value | 2,374,690 | 2,275,939 | ||
Cash Flow Hedges [Member] | 1 year [member] | Currency Swap Contract [Member] | ||||
Disclosure of detailed information about hedged items [line items] | ||||
Notional value | 47,155 | |||
Cash Flow Hedges [Member] | 1 year [member] | Interest rate swap [member] | ||||
Disclosure of detailed information about hedged items [line items] | ||||
Notional value | 33,233 | 32,408 | ||
Cash Flow Hedges [Member] | 1 year [member] | Loan [Member] | ||||
Disclosure of detailed information about hedged items [line items] | ||||
Notional value | 2,103,296 | 1,804,079 | ||
Cash Flow Hedges [Member] | 1 year [member] | Commercial loans [member] | ||||
Disclosure of detailed information about hedged items [line items] | ||||
Notional value | 23,000 | 5,000 | ||
Cash Flow Hedges [Member] | 1 year [member] | Time deposits [member] | ||||
Disclosure of detailed information about hedged items [line items] | ||||
Notional value | 27,408 | |||
Cash Flow Hedges [Member] | 1 year [member] | Interbank loans [member] | ||||
Disclosure of detailed information about hedged items [line items] | ||||
Notional value | 240,831 | 476,036 | ||
Cash Flow Hedges [Member] | 1 year [member] | Payment in USD [Member] | ||||
Disclosure of detailed information about hedged items [line items] | ||||
Notional value | $ 40,796 | $ 42,979 | ||
Cash Flow Hedges [Member] | 1 - 3 years [member] | ||||
Disclosure of detailed information about hedged items [line items] | ||||
Notional value | 225,973 | 609,729 | ||
Cash Flow Hedges [Member] | 1 - 3 years [member] | Forward Contract [Member] | ||||
Disclosure of detailed information about hedged items [line items] | ||||
Notional value | 178,107 | 556,633 | ||
Cash Flow Hedges [Member] | 1 - 3 years [member] | Interest rate swap [member] | ||||
Disclosure of detailed information about hedged items [line items] | ||||
Notional value | 47,866 | 53,096 | ||
Cash Flow Hedges [Member] | 1 - 3 years [member] | Loan [Member] | ||||
Disclosure of detailed information about hedged items [line items] | ||||
Notional value | 174,422 | 566,729 | ||
Cash Flow Hedges [Member] | 1 - 3 years [member] | Commercial loans [member] | ||||
Disclosure of detailed information about hedged items [line items] | ||||
Notional value | 20,000 | 43,000 | ||
Cash Flow Hedges [Member] | 1 - 3 years [member] | Current bonds [member] | ||||
Disclosure of detailed information about hedged items [line items] | ||||
Notional value | 27,866 | |||
Cash Flow Hedges [Member] | 1 - 3 years [member] | Interbank loans [member] | ||||
Disclosure of detailed information about hedged items [line items] | ||||
Notional value | $ 3,685 | |||
Cash Flow Hedges [Member] | 3 to 6 years [member] | ||||
Disclosure of detailed information about hedged items [line items] | ||||
Notional value | 421,225 | |||
Cash Flow Hedges [Member] | 3 to 6 years [member] | Currency Swap Contract [Member] | ||||
Disclosure of detailed information about hedged items [line items] | ||||
Notional value | 78,592 | |||
Cash Flow Hedges [Member] | 3 to 6 years [member] | Interest rate swap [member] | ||||
Disclosure of detailed information about hedged items [line items] | ||||
Notional value | 342,633 | |||
Cash Flow Hedges [Member] | 3 to 6 years [member] | Time deposits [member] | ||||
Disclosure of detailed information about hedged items [line items] | ||||
Notional value | 342,633 | |||
Cash Flow Hedges [Member] | 3 to 6 years [member] | Interbank loans [member] | ||||
Disclosure of detailed information about hedged items [line items] | ||||
Notional value | 78,592 | |||
Cash Flow Hedges [Member] | Over 6 years [member] | ||||
Disclosure of detailed information about hedged items [line items] | ||||
Notional value | 41,300 | |||
Cash Flow Hedges [Member] | Over 6 years [member] | Interest rate swap [member] | ||||
Disclosure of detailed information about hedged items [line items] | ||||
Notional value | 41,300 | |||
Cash Flow Hedges [Member] | Over 6 years [member] | Time deposits [member] | ||||
Disclosure of detailed information about hedged items [line items] | ||||
Notional value | $ 41,300 |
Financial Derivative Contrac_10
Financial Derivative Contracts and Hedge Accounting - Schedule of Forecasted Cash Flows by Interest Rate Risk, Cash Flow Hedges (Detail) - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
1 year [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | $ 2,061,015 | $ 2,666,521 |
Cash Flow Hedges [Member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 2,633,896 | 3,427,756 |
Cash Flow Hedges [Member] | 1 year [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 2,407,923 | 2,355,502 |
Cash Flow Hedges [Member] | 1 - 3 years [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 225,973 | 609,729 |
Cash Flow Hedges [Member] | 3 to 6 years [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 421,225 | |
Cash Flow Hedges [Member] | Over 6 years [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 41,300 | |
Interest rate risk [member] | Cash Flow Hedges [Member] | Increase (decrease) in hedged items [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | (218,990) | (449,586) |
Interest rate risk [member] | Cash Flow Hedges [Member] | Increase (decrease) in hedging instrument [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 218,990 | 449,586 |
Interest rate risk [member] | Cash Flow Hedges [Member] | Inflows [member] | Increase (decrease) in hedged items [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 53,415 | 67,227 |
Interest rate risk [member] | Cash Flow Hedges [Member] | Inflows [member] | Increase (decrease) in hedging instrument [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | (53,415) | 516,813 |
Interest rate risk [member] | Cash Flow Hedges [Member] | Outflows [member] | Increase (decrease) in hedged items [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | (272,405) | (516,813) |
Interest rate risk [member] | Cash Flow Hedges [Member] | Outflows [member] | Increase (decrease) in hedging instrument [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 272,405 | (67,227) |
Interest rate risk [member] | Cash Flow Hedges [Member] | 1 year [member] | Increase (decrease) in hedged items [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | (193,364) | (441,567) |
Interest rate risk [member] | Cash Flow Hedges [Member] | 1 year [member] | Increase (decrease) in hedging instrument [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 193,364 | 441,567 |
Interest rate risk [member] | Cash Flow Hedges [Member] | 1 year [member] | Inflows [member] | Increase (decrease) in hedged items [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 47,490 | 43,430 |
Interest rate risk [member] | Cash Flow Hedges [Member] | 1 year [member] | Inflows [member] | Increase (decrease) in hedging instrument [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | (47,490) | 484,997 |
Interest rate risk [member] | Cash Flow Hedges [Member] | 1 year [member] | Outflows [member] | Increase (decrease) in hedged items [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | (240,854) | (484,997) |
Interest rate risk [member] | Cash Flow Hedges [Member] | 1 year [member] | Outflows [member] | Increase (decrease) in hedging instrument [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 240,854 | (43,430) |
Interest rate risk [member] | Cash Flow Hedges [Member] | 1 - 3 years [member] | Increase (decrease) in hedged items [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | (25,626) | 6,182 |
Interest rate risk [member] | Cash Flow Hedges [Member] | 1 - 3 years [member] | Increase (decrease) in hedging instrument [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 25,626 | (6,182) |
Interest rate risk [member] | Cash Flow Hedges [Member] | 1 - 3 years [member] | Inflows [member] | Increase (decrease) in hedged items [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 5,925 | 23,797 |
Interest rate risk [member] | Cash Flow Hedges [Member] | 1 - 3 years [member] | Inflows [member] | Increase (decrease) in hedging instrument [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | (5,925) | 17,615 |
Interest rate risk [member] | Cash Flow Hedges [Member] | 1 - 3 years [member] | Outflows [member] | Increase (decrease) in hedged items [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | (31,551) | (17,615) |
Interest rate risk [member] | Cash Flow Hedges [Member] | 1 - 3 years [member] | Outflows [member] | Increase (decrease) in hedging instrument [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | $ 31,551 | (23,797) |
Interest rate risk [member] | Cash Flow Hedges [Member] | 3 to 6 years [member] | Increase (decrease) in hedged items [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | (13,260) | |
Interest rate risk [member] | Cash Flow Hedges [Member] | 3 to 6 years [member] | Increase (decrease) in hedging instrument [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 13,260 | |
Interest rate risk [member] | Cash Flow Hedges [Member] | 3 to 6 years [member] | Inflows [member] | Increase (decrease) in hedging instrument [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 13,260 | |
Interest rate risk [member] | Cash Flow Hedges [Member] | 3 to 6 years [member] | Outflows [member] | Increase (decrease) in hedged items [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | (13,260) | |
Interest rate risk [member] | Cash Flow Hedges [Member] | Over 6 years [member] | Increase (decrease) in hedged items [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | (941) | |
Interest rate risk [member] | Cash Flow Hedges [Member] | Over 6 years [member] | Increase (decrease) in hedging instrument [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 941 | |
Interest rate risk [member] | Cash Flow Hedges [Member] | Over 6 years [member] | Inflows [member] | Increase (decrease) in hedging instrument [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 941 | |
Interest rate risk [member] | Cash Flow Hedges [Member] | Over 6 years [member] | Outflows [member] | Increase (decrease) in hedged items [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | $ (941) |
Financial Derivative Contrac_11
Financial Derivative Contracts and Hedge Accounting - Schedule of Effective Portion Generated by Cash Flow Derivatives Recorded in Statement of Changes in Equity (Detail) $ in Millions, $ in Millions | 12 Months Ended | |||
Dec. 31, 2020USD ($) | Dec. 31, 2020CLP ($) | Dec. 31, 2019USD ($) | Dec. 31, 2019CLP ($) | |
Disclosure of information about amounts that affected statement of comprehensive income as result of hedge accounting [line items] | ||||
Effective Portion | $ 882 | $ 3,205 | $ 3,065 | $ (6,792) |
Ineffective Portion | 95 | (144) | ||
Loan [Member] | ||||
Disclosure of information about amounts that affected statement of comprehensive income as result of hedge accounting [line items] | ||||
Effective Portion | (527) | (3,698) | ||
Ineffective Portion | (37) | (516) | ||
Commercial loans [member] | ||||
Disclosure of information about amounts that affected statement of comprehensive income as result of hedge accounting [line items] | ||||
Effective Portion | 1,654 | 1,135 | ||
Ineffective Portion | 140 | 289 | ||
Time deposits [member] | ||||
Disclosure of information about amounts that affected statement of comprehensive income as result of hedge accounting [line items] | ||||
Effective Portion | (1,090) | (4,275) | ||
Ineffective Portion | (1) | 91 | ||
Current bonds [member] | ||||
Disclosure of information about amounts that affected statement of comprehensive income as result of hedge accounting [line items] | ||||
Effective Portion | (34) | |||
Interbank loans [member] | ||||
Disclosure of information about amounts that affected statement of comprehensive income as result of hedge accounting [line items] | ||||
Effective Portion | 2,320 | (3,019) | ||
Ineffective Portion | $ (7) | $ (8) |
Financial Derivative Contrac_12
Financial Derivative Contracts and Hedge Accounting - Schedule of the Income Generated by Cash Flow Hedge Derivatives (Detail) - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of information about amounts that affected statement of comprehensive income as result of hedge accounting [line items] | ||
Effect of reclassification adjustments on cash flow hedges | $ (2,202) | $ 6,635 |
Loan [Member] | ||
Disclosure of information about amounts that affected statement of comprehensive income as result of hedge accounting [line items] | ||
Effect of reclassification adjustments on cash flow hedges | 1,617 | 3,681 |
Commercial loans [member] | ||
Disclosure of information about amounts that affected statement of comprehensive income as result of hedge accounting [line items] | ||
Effect of reclassification adjustments on cash flow hedges | 505 | (1,134) |
Time deposits [member] | ||
Disclosure of information about amounts that affected statement of comprehensive income as result of hedge accounting [line items] | ||
Effect of reclassification adjustments on cash flow hedges | $ (4,324) | $ 4,088 |
Financial Derivative Contrac_13
Financial Derivative Contracts and Hedge Accounting - Additional Information (Detail) - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of detailed information about hedged items [line items] | |||
Gain or loss of the hedging instrument, effective recognized in equity | $ 26,824 | $ 47,117 | $ 16,159 |
Hedges of net investment in foreign operations [member] | |||
Disclosure of detailed information about hedged items [line items] | |||
Gain or loss of the hedging instrument, effective recognized in equity | $ 48,171 | $ (10,756) | $ 21,657 |
Financial Derivative Contrac_14
Financial Derivative Contracts and Hedge Accounting - Gains or Losses on Hedge of Net Investment in Foreign Operations that have been Recognized in Other Comprehensive Income and Accumulated in Equity (Detail) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of detailed information about hedges [line items] | |||
Beginning balance | $ 47,117 | $ 16,159 | |
Gains (losses) on hedge of net investment in foreign operation, before tax | 80,722 | (46,786) | $ (36,533) |
Ending balances | 26,824 | 47,117 | 16,159 |
Hedges of net investment in foreign operations [member] | |||
Disclosure of detailed information about hedges [line items] | |||
Beginning balance | (10,756) | 21,657 | |
Gains (losses) on hedge of net investment in foreign operation, before tax | 80,722 | (46,786) | |
Income tax relating to hedges of net investment in foreign operations | (21,795) | 14,373 | |
Ending balances | $ 48,171 | $ (10,756) | $ 21,657 |
Financial Derivative Contrac_15
Financial Derivative Contracts and Hedge Accounting - Schedule of Hedge Net Investment in Itau Corpbanca Colombia (Detail) - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of detailed information about hedged items [line items] | ||
Effective Portion | $ 43,572 | $ (46,786) |
Foreign currency forwards [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Effective Portion | 43,572 | (46,786) |
1 year [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 2,061,015 | 2,666,521 |
1 year [member] | Foreign currency forwards [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 2,061,015 | 2,666,521 |
New York Branch [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Effective Portion | 51,803 | (35,744) |
New York Branch [member] | 1 year [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | 1,897,025 | 2,360,798 |
Colombia Branch [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Effective Portion | (8,231) | (11,042) |
Colombia Branch [member] | 1 year [member] | ||
Disclosure of detailed information about hedged items [line items] | ||
Notional value | $ 163,990 | $ 305,723 |
Interbank Loans - Schedule of I
Interbank Loans - Schedule of Interbank Loans, Net (Detail) - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of financial assets [line items] | ||
Loans and receivables from banks | $ 7,121 | $ 56,396 |
IFRS9 [member] | ||
Disclosure of financial assets [line items] | ||
Allowances for loans losses | 1,081,658 | 914,627 |
IFRS9 [member] | Interbank loans [member] | ||
Disclosure of financial assets [line items] | ||
Allowances for loans losses | (10) | (239) |
IFRS9 [member] | Foreign Banks [member] | Interbank loans [member] | ||
Disclosure of financial assets [line items] | ||
Allowances for loans losses | (10) | (239) |
Loans and receivables from banks | 7,121 | 56,396 |
IFRS9 [member] | Inter banks cash loans [member] | Foreign Banks [member] | Interbank loans [member] | ||
Disclosure of financial assets [line items] | ||
Loans and receivables from banks | 37,048 | |
IFRS9 [member] | Loans to foreign banks [member] | Foreign Banks [member] | Interbank loans [member] | ||
Disclosure of financial assets [line items] | ||
Loans and receivables from banks | 755 | |
IFRS9 [member] | Non transferrable deposits with foreign banks [member] | Foreign Banks [member] | Interbank loans [member] | ||
Disclosure of financial assets [line items] | ||
Loans and receivables from banks | $ 7,131 | $ 18,832 |
Interbank Loans - Schedule of M
Interbank Loans - Schedule of Movements in Provisions and Impairment for Loans with Domestic and Foreign Banks (Detail) - IFRS9 [member] - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure Of Provisions And Impairment For Loans With Domestic And Foreign Banks [line items] | ||
Opening balance | $ (880,117) | $ (768,120) |
Changes in the allowances | ||
Ending balance | (1,041,873) | (880,117) |
Foreign Banks [member] | ||
Disclosure Of Provisions And Impairment For Loans With Domestic And Foreign Banks [line items] | ||
Opening balance | (239) | (463) |
Changes in the allowances | ||
- Transfer to stage 1 | 0 | 0 |
- Transfer to stage 2 | 0 | 0 |
- Transfer to stage 3 | 0 | 0 |
- Increases due to change in credit risk | 0 | 0 |
- Decreases due to change in credit risk | 0 | 0 |
Charge-offs | 0 | 0 |
- Changes due to modifications that did not result in derecognition | 0 | 0 |
- Charge-offs | 0 | 0 |
New financial assets originated or purchased | (10) | (316) |
Financial assets that have been derecognised | 218 | 574 |
Changes in models/risk parameters | 0 | 0 |
Foreign exchange and other movements | 21 | (34) |
Ending balance | (10) | (239) |
Foreign Banks [member] | Stage 1 12-Month ECL [member] | ||
Disclosure Of Provisions And Impairment For Loans With Domestic And Foreign Banks [line items] | ||
Opening balance | (239) | (463) |
Changes in the allowances | ||
- Transfer to stage 1 | 0 | 0 |
- Transfer to stage 2 | 0 | 0 |
- Transfer to stage 3 | 0 | 0 |
- Increases due to change in credit risk | 0 | 0 |
- Decreases due to change in credit risk | 0 | 0 |
Charge-offs | 0 | 0 |
- Changes due to modifications that did not result in derecognition | 0 | 0 |
- Charge-offs | 0 | 0 |
New financial assets originated or purchased | (10) | (316) |
Financial assets that have been derecognised | 218 | 574 |
Changes in models/risk parameters | 0 | 0 |
Foreign exchange and other movements | 21 | (34) |
Ending balance | (10) | (239) |
Foreign Banks [member] | Stage 2 Lifetime ECL [member] | ||
Disclosure Of Provisions And Impairment For Loans With Domestic And Foreign Banks [line items] | ||
Opening balance | 0 | 0 |
Changes in the allowances | ||
- Transfer to stage 1 | 0 | 0 |
- Transfer to stage 2 | 0 | 0 |
- Transfer to stage 3 | 0 | 0 |
- Increases due to change in credit risk | 0 | 0 |
- Decreases due to change in credit risk | 0 | 0 |
Charge-offs | 0 | 0 |
- Changes due to modifications that did not result in derecognition | 0 | 0 |
- Charge-offs | 0 | 0 |
New financial assets originated or purchased | 0 | 0 |
Financial assets that have been derecognised | 0 | 0 |
Changes in models/risk parameters | 0 | 0 |
Foreign exchange and other movements | 0 | 0 |
Ending balance | 0 | 0 |
Foreign Banks [member] | Stage 3 Lifetime ECL [member] | ||
Disclosure Of Provisions And Impairment For Loans With Domestic And Foreign Banks [line items] | ||
Opening balance | 0 | 0 |
Changes in the allowances | ||
- Transfer to stage 1 | 0 | 0 |
- Transfer to stage 2 | 0 | 0 |
- Transfer to stage 3 | 0 | 0 |
- Increases due to change in credit risk | 0 | 0 |
- Decreases due to change in credit risk | 0 | 0 |
Charge-offs | 0 | 0 |
- Changes due to modifications that did not result in derecognition | 0 | 0 |
- Charge-offs | 0 | 0 |
New financial assets originated or purchased | 0 | 0 |
Financial assets that have been derecognised | 0 | 0 |
Changes in models/risk parameters | 0 | 0 |
Foreign exchange and other movements | 0 | 0 |
Ending balance | $ 0 | $ 0 |
Loans and Accounts Receivable_3
Loans and Accounts Receivable From Customers - Schedule of Composition of Loan Portfolio (Detail) - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of financial assets [line items] | |||
Collateral held permitted to be sold or repledged in absence of default by owner of collateral, at fair value | $ 1,766,997 | ||
IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Allowances for loans losses | (1,041,873) | $ (880,117) | $ (768,120) |
Net carrying amount | 21,576,108 | 22,254,697 | |
Gross assets [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | 22,617,981 | 23,134,814 | 21,482,490 |
Gross assets [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | 22,617,981 | 23,134,814 | |
Gross assets [member] | Individually assessed for credit losses [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | 1,088,954 | 610,506 | 508,554 |
Gross assets [member] | Collectively assessed for credit losses [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | 21,529,027 | 22,524,308 | 20,973,936 |
Allowances for loan losses [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Allowances for loans losses | (1,041,873) | (880,117) | |
Allowances for loan losses [member] | Individually assessed for credit losses [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Allowances for loans losses | (321,444) | (193,135) | |
Allowances for loan losses [member] | Collectively assessed for credit losses [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Allowances for loans losses | (720,429) | (686,982) | |
Commercial loans [member] | |||
Disclosure of financial assets [line items] | |||
Allowances for loans losses | (747,617) | (545,199) | (484,707) |
Commercial loans [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Net carrying amount | 14,061,182 | 14,915,345 | |
Commercial loans [member] | Commercial loans [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Net carrying amount | 11,502,835 | 11,870,750 | |
Commercial loans [member] | Foreign trade loans [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Net carrying amount | 825,445 | 1,034,681 | |
Commercial loans [member] | Checking account debtors [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Net carrying amount | 62,046 | 143,768 | |
Commercial loans [member] | Factoring transactions [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Net carrying amount | 151,487 | 217,410 | |
Commercial loans [member] | Student loans [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Net carrying amount | 576,986 | 635,279 | |
Commercial loans [member] | Leasing transactions [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Net carrying amount | 916,587 | 988,907 | |
Commercial loans [member] | Other Commercial Loans and Receivables [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Net carrying amount | 25,796 | 24,550 | |
Commercial loans [member] | Gross assets [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | 14,808,799 | 15,460,544 | 14,366,900 |
Commercial loans [member] | Gross assets [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | 14,808,799 | 15,460,544 | |
Commercial loans [member] | Gross assets [member] | Commercial loans [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | 12,172,207 | 12,288,810 | |
Commercial loans [member] | Gross assets [member] | Foreign trade loans [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | 847,086 | 1,109,169 | |
Commercial loans [member] | Gross assets [member] | Checking account debtors [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | 70,126 | 154,276 | |
Commercial loans [member] | Gross assets [member] | Factoring transactions [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | 155,540 | 221,104 | |
Commercial loans [member] | Gross assets [member] | Student loans [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | 594,688 | 654,721 | |
Commercial loans [member] | Gross assets [member] | Leasing transactions [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | 940,989 | 1,005,209 | |
Commercial loans [member] | Gross assets [member] | Other Commercial Loans and Receivables [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | 28,163 | 27,255 | |
Commercial loans [member] | Gross assets [member] | Individually assessed for credit losses [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | 1,088,954 | 610,506 | 508,554 |
Commercial loans [member] | Gross assets [member] | Collectively assessed for credit losses [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | 13,719,845 | 14,850,038 | 13,858,346 |
Commercial loans [member] | Allowances for loan losses [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Allowances for loans losses | (747,617) | (545,199) | |
Commercial loans [member] | Allowances for loan losses [member] | Commercial loans [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Allowances for loans losses | (669,372) | (418,060) | |
Commercial loans [member] | Allowances for loan losses [member] | Foreign trade loans [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Allowances for loans losses | (21,641) | (74,488) | |
Commercial loans [member] | Allowances for loan losses [member] | Checking account debtors [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Allowances for loans losses | (8,080) | (10,508) | |
Commercial loans [member] | Allowances for loan losses [member] | Factoring transactions [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Allowances for loans losses | (4,053) | (3,694) | |
Commercial loans [member] | Allowances for loan losses [member] | Student loans [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Allowances for loans losses | (17,702) | (19,442) | |
Commercial loans [member] | Allowances for loan losses [member] | Leasing transactions [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Allowances for loans losses | (24,402) | (16,302) | |
Commercial loans [member] | Allowances for loan losses [member] | Other Commercial Loans and Receivables [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Allowances for loans losses | (2,367) | (2,705) | |
Commercial loans [member] | Allowances for loan losses [member] | Individually assessed for credit losses [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Allowances for loans losses | (321,444) | (193,135) | |
Commercial loans [member] | Allowances for loan losses [member] | Individually assessed for credit losses [member] | Commercial loans [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Allowances for loans losses | (321,444) | (193,135) | |
Commercial loans [member] | Allowances for loan losses [member] | Collectively assessed for credit losses [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Allowances for loans losses | (426,173) | (352,064) | |
Commercial loans [member] | Allowances for loan losses [member] | Collectively assessed for credit losses [member] | Commercial loans [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Allowances for loans losses | (347,928) | (224,925) | |
Commercial loans [member] | Allowances for loan losses [member] | Collectively assessed for credit losses [member] | Foreign trade loans [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Allowances for loans losses | (21,641) | (74,488) | |
Commercial loans [member] | Allowances for loan losses [member] | Collectively assessed for credit losses [member] | Checking account debtors [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Allowances for loans losses | (8,080) | (10,508) | |
Commercial loans [member] | Allowances for loan losses [member] | Collectively assessed for credit losses [member] | Factoring transactions [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Allowances for loans losses | (4,053) | (3,694) | |
Commercial loans [member] | Allowances for loan losses [member] | Collectively assessed for credit losses [member] | Student loans [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Allowances for loans losses | (17,702) | (19,442) | |
Commercial loans [member] | Allowances for loan losses [member] | Collectively assessed for credit losses [member] | Leasing transactions [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Allowances for loans losses | (24,402) | (16,302) | |
Commercial loans [member] | Allowances for loan losses [member] | Collectively assessed for credit losses [member] | Other Commercial Loans and Receivables [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Allowances for loans losses | (2,367) | (2,705) | |
Mortgages loans [member] | |||
Disclosure of financial assets [line items] | |||
Allowances for loans losses | (73,465) | (78,501) | (66,117) |
Mortgages loans [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Net carrying amount | 5,243,288 | 4,797,540 | |
Mortgages loans [member] | Loans with mortgage finance bonds [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Net carrying amount | 23,113 | 29,891 | |
Mortgages loans [member] | Endorsable mutual mortgage loans [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Net carrying amount | 89,409 | 102,442 | |
Mortgages loans [member] | Other mutual mortgage loans [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Net carrying amount | 4,761,064 | 4,321,019 | |
Mortgages loans [member] | Mortgage leasing transactions [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Net carrying amount | 295,856 | 323,708 | |
Mortgages loans [member] | Other mortgage loans and receivables [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Net carrying amount | 73,846 | 20,480 | |
Mortgages loans [member] | Gross assets [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | 5,316,753 | 4,876,041 | |
Mortgages loans [member] | Gross assets [member] | Loans with mortgage finance bonds [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | 23,345 | 30,269 | |
Mortgages loans [member] | Gross assets [member] | Endorsable mutual mortgage loans [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | 90,456 | 103,850 | |
Mortgages loans [member] | Gross assets [member] | Other mutual mortgage loans [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | 4,820,863 | 4,384,547 | |
Mortgages loans [member] | Gross assets [member] | Mortgage leasing transactions [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | 307,574 | 336,587 | |
Mortgages loans [member] | Gross assets [member] | Other mortgage loans and receivables [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | 74,515 | 20,788 | |
Mortgages loans [member] | Gross assets [member] | Collectively assessed for credit losses [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | 5,316,753 | 4,876,041 | 4,445,827 |
Mortgages loans [member] | Allowances for loan losses [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Allowances for loans losses | (73,465) | (78,501) | |
Mortgages loans [member] | Allowances for loan losses [member] | Loans with mortgage finance bonds [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Allowances for loans losses | (232) | (378) | |
Mortgages loans [member] | Allowances for loan losses [member] | Endorsable mutual mortgage loans [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Allowances for loans losses | (1,047) | (1,408) | |
Mortgages loans [member] | Allowances for loan losses [member] | Other mutual mortgage loans [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Allowances for loans losses | (59,799) | (63,528) | |
Mortgages loans [member] | Allowances for loan losses [member] | Mortgage leasing transactions [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Allowances for loans losses | (11,718) | (12,879) | |
Mortgages loans [member] | Allowances for loan losses [member] | Other mortgage loans and receivables [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Allowances for loans losses | (669) | (308) | |
Mortgages loans [member] | Allowances for loan losses [member] | Collectively assessed for credit losses [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Allowances for loans losses | (73,465) | (78,501) | |
Mortgages loans [member] | Allowances for loan losses [member] | Collectively assessed for credit losses [member] | Loans with mortgage finance bonds [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Allowances for loans losses | (232) | (378) | |
Mortgages loans [member] | Allowances for loan losses [member] | Collectively assessed for credit losses [member] | Endorsable mutual mortgage loans [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Allowances for loans losses | (1,047) | (1,408) | |
Mortgages loans [member] | Allowances for loan losses [member] | Collectively assessed for credit losses [member] | Other mutual mortgage loans [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Allowances for loans losses | (59,799) | (63,528) | |
Mortgages loans [member] | Allowances for loan losses [member] | Collectively assessed for credit losses [member] | Mortgage leasing transactions [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Allowances for loans losses | (11,718) | (12,879) | |
Mortgages loans [member] | Allowances for loan losses [member] | Collectively assessed for credit losses [member] | Other mortgage loans and receivables [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Allowances for loans losses | (669) | (308) | |
Consumer loans [member] | |||
Disclosure of financial assets [line items] | |||
Allowances for loans losses | (220,791) | (256,417) | |
Consumer loans [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Net carrying amount | 2,271,638 | 2,541,812 | |
Consumer loans [member] | Other Commercial Loans and Receivables [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Net carrying amount | 29,858 | 41,239 | |
Consumer loans [member] | Installment consumer loans [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Net carrying amount | 1,684,696 | 1,811,312 | |
Consumer loans [member] | Checking account debtors [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Net carrying amount | 112,945 | 186,632 | |
Consumer loans [member] | Credit card balances [Member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Net carrying amount | 442,854 | 499,743 | |
Consumer loans [member] | Consumer leasing transactions [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Net carrying amount | 1,285 | 2,886 | |
Consumer loans [member] | Gross assets [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | 2,492,429 | 2,798,229 | |
Consumer loans [member] | Gross assets [member] | Other Commercial Loans and Receivables [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | 33,314 | 45,599 | |
Consumer loans [member] | Gross assets [member] | Installment consumer loans [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | 1,866,015 | 2,005,038 | |
Consumer loans [member] | Gross assets [member] | Checking account debtors [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | 124,009 | 206,738 | |
Consumer loans [member] | Gross assets [member] | Credit card balances [Member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | 467,624 | 537,741 | |
Consumer loans [member] | Gross assets [member] | Consumer leasing transactions [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | 1,467 | 3,113 | |
Consumer loans [member] | Gross assets [member] | Collectively assessed for credit losses [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | 2,492,429 | 2,798,229 | $ 2,669,763 |
Consumer loans [member] | Allowances for loan losses [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Allowances for loans losses | (220,791) | (256,417) | |
Consumer loans [member] | Allowances for loan losses [member] | Other Commercial Loans and Receivables [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Allowances for loans losses | (3,456) | (4,360) | |
Consumer loans [member] | Allowances for loan losses [member] | Installment consumer loans [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Allowances for loans losses | (181,319) | (193,726) | |
Consumer loans [member] | Allowances for loan losses [member] | Checking account debtors [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Allowances for loans losses | (11,064) | (20,106) | |
Consumer loans [member] | Allowances for loan losses [member] | Credit card balances [Member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Allowances for loans losses | (24,770) | (37,998) | |
Consumer loans [member] | Allowances for loan losses [member] | Consumer leasing transactions [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Allowances for loans losses | (182) | (227) | |
Consumer loans [member] | Allowances for loan losses [member] | Collectively assessed for credit losses [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Allowances for loans losses | (220,791) | (256,417) | |
Consumer loans [member] | Allowances for loan losses [member] | Collectively assessed for credit losses [member] | Other Commercial Loans and Receivables [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Allowances for loans losses | (3,456) | (4,360) | |
Consumer loans [member] | Allowances for loan losses [member] | Collectively assessed for credit losses [member] | Installment consumer loans [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Allowances for loans losses | (181,319) | (193,726) | |
Consumer loans [member] | Allowances for loan losses [member] | Collectively assessed for credit losses [member] | Checking account debtors [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Allowances for loans losses | (11,064) | (20,106) | |
Consumer loans [member] | Allowances for loan losses [member] | Collectively assessed for credit losses [member] | Credit card balances [Member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Allowances for loans losses | (24,770) | (37,998) | |
Consumer loans [member] | Allowances for loan losses [member] | Collectively assessed for credit losses [member] | Consumer leasing transactions [member] | IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
Allowances for loans losses | $ (182) | $ (227) |
Loans and Accounts Receivable_4
Loans and Accounts Receivable From Customers - Movements in Loan Portfolio disaggregated by individually and grouped assessed loans (Detail) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Commercial loans [member] | |||
Disclosure of financial assets [line items] | |||
- Changes due to modifications that did not result in derecognition | $ 869 | $ 0 | |
New financial assets originated or purchased | 291,865 | 136,559 | |
Financial assets that have been derecognized | (162,519) | (114,655) | |
Foreign exchange and other movements | (4,773) | 20,589 | |
Allowance for loan losses | 747,617 | 545,199 | $ 484,707 |
Mortgages loans [member] | |||
Disclosure of financial assets [line items] | |||
- Changes due to modifications that did not result in derecognition | (1,344) | 0 | |
New financial assets originated or purchased | (2,312) | 3,481 | |
Financial assets that have been derecognized | (5,316) | (5,501) | |
Foreign exchange and other movements | 5,845 | 855 | |
Allowance for loan losses | 73,465 | 78,501 | 66,117 |
Consumer loans [member] | |||
Disclosure of financial assets [line items] | |||
- Changes due to modifications that did not result in derecognition | (314) | ||
New financial assets originated or purchased | 125,212 | ||
Financial assets that have been derecognized | (76,578) | ||
Foreign exchange and other movements | (5,849) | ||
Allowance for loan losses | 220,791 | 256,417 | |
Gross assets [member] | |||
Disclosure of financial assets [line items] | |||
Beginning balance | 23,134,814 | 21,482,490 | |
- Charge-offs | (315,765) | (173,272) | |
- Changes due to modifications that did not result in derecognition | (265,977) | ||
New financial assets originated or purchased | 8,916,631 | 7,343,332 | |
Financial assets that have been derecognized | (8,450,587) | (6,055,454) | |
Foreign exchange and other movements | (401,135) | 537,718 | |
Ending balance | 22,617,981 | 23,134,814 | |
Gross assets [member] | Commercial loans [member] | |||
Disclosure of financial assets [line items] | |||
Beginning balance | 15,460,544 | 14,366,900 | |
- Charge-offs | (168,662) | (98,686) | |
- Changes due to modifications that did not result in derecognition | (174,255) | ||
New financial assets originated or purchased | 6,663,157 | 5,446,411 | |
Financial assets that have been derecognized | (6,708,654) | (4,763,904) | |
Foreign exchange and other movements | (263,331) | 509,823 | |
Ending balance | 14,808,799 | 15,460,544 | |
IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
- Changes due to modifications that did not result in derecognition | (789) | 0 | |
New financial assets originated or purchased | 414,765 | 282,800 | |
Financial assets that have been derecognized | (244,413) | (199,319) | |
Foreign exchange and other movements | (4,777) | 37,787 | |
Allowance for loan losses | 1,041,873 | 880,117 | $ 768,120 |
Net carrying amount | 21,576,108 | 22,254,697 | |
IFRS9 [member] | Commercial loans [member] | |||
Disclosure of financial assets [line items] | |||
Net carrying amount | 14,061,182 | 14,915,345 | |
IFRS9 [member] | Mortgages loans [member] | |||
Disclosure of financial assets [line items] | |||
Net carrying amount | 5,243,288 | 4,797,540 | |
IFRS9 [member] | Consumer loans [member] | |||
Disclosure of financial assets [line items] | |||
Net carrying amount | 2,271,638 | 2,541,812 | |
IFRS9 [member] | Gross assets [member] | |||
Disclosure of financial assets [line items] | |||
Beginning balance | 23,134,814 | ||
Ending balance | 22,617,981 | 23,134,814 | |
IFRS9 [member] | Gross assets [member] | Commercial loans [member] | |||
Disclosure of financial assets [line items] | |||
Beginning balance | 15,460,544 | ||
Ending balance | 14,808,799 | 15,460,544 | |
IFRS9 [member] | Gross assets [member] | Mortgages loans [member] | |||
Disclosure of financial assets [line items] | |||
Beginning balance | 4,876,041 | ||
Ending balance | 5,316,753 | 4,876,041 | |
IFRS9 [member] | Gross assets [member] | Consumer loans [member] | |||
Disclosure of financial assets [line items] | |||
Beginning balance | 2,798,229 | ||
Ending balance | 2,492,429 | 2,798,229 | |
IFRS9 [member] | Allowances for loan losses [member] | |||
Disclosure of financial assets [line items] | |||
Allowance for loan losses | 1,041,873 | 880,117 | |
IFRS9 [member] | Allowances for loan losses [member] | Commercial loans [member] | |||
Disclosure of financial assets [line items] | |||
Allowance for loan losses | 747,617 | 545,199 | |
IFRS9 [member] | Allowances for loan losses [member] | Mortgages loans [member] | |||
Disclosure of financial assets [line items] | |||
Allowance for loan losses | 73,465 | 78,501 | |
IFRS9 [member] | Allowances for loan losses [member] | Consumer loans [member] | |||
Disclosure of financial assets [line items] | |||
Allowance for loan losses | 220,791 | 256,417 | |
Individually assessed for credit losses [member] | Gross assets [member] | |||
Disclosure of financial assets [line items] | |||
Beginning balance | 610,506 | 508,554 | |
- Charge-offs | (198) | (21,841) | |
- Changes due to modifications that did not result in derecognition | (3,089) | ||
New financial assets originated or purchased | 235,149 | 87,496 | |
Financial assets that have been derecognized | (191,909) | (58,435) | |
Foreign exchange and other movements | 66,523 | 48,266 | |
Ending balance | 1,088,954 | 610,506 | |
Individually assessed for credit losses [member] | Gross assets [member] | Commercial loans [member] | |||
Disclosure of financial assets [line items] | |||
Beginning balance | 610,506 | 508,554 | |
- Charge-offs | (198) | (21,841) | |
- Changes due to modifications that did not result in derecognition | (3,089) | ||
New financial assets originated or purchased | 235,149 | 87,496 | |
Financial assets that have been derecognized | (191,909) | (58,435) | |
Foreign exchange and other movements | 66,523 | 48,266 | |
Ending balance | 1,088,954 | 610,506 | |
Individually assessed for credit losses [member] | IFRS9 [member] | Allowances for loan losses [member] | |||
Disclosure of financial assets [line items] | |||
Allowance for loan losses | 321,444 | 193,135 | |
Individually assessed for credit losses [member] | IFRS9 [member] | Allowances for loan losses [member] | Commercial loans [member] | |||
Disclosure of financial assets [line items] | |||
Allowance for loan losses | 321,444 | 193,135 | |
Individually assessed for credit losses [member] | Stage1 [member] | 12-month expected credit losses [member] | Gross assets [member] | |||
Disclosure of financial assets [line items] | |||
Beginning balance | 20,807 | ||
- Transfer to stage 2 | (7,573) | ||
- Transfer to stage 3 | (5,410) | ||
New financial assets originated or purchased | 32,170 | ||
Financial assets that have been derecognized | (13,399) | ||
Foreign exchange and other movements | 25,096 | ||
Ending balance | 100,922 | 20,807 | |
Individually assessed for credit losses [member] | Stage1 [member] | 12-month expected credit losses [member] | Gross assets [member] | Commercial loans [member] | |||
Disclosure of financial assets [line items] | |||
Beginning balance | 20,807 | ||
- Transfer to stage 2 | (7,573) | ||
- Transfer to stage 3 | (5,410) | ||
New financial assets originated or purchased | 32,170 | ||
Financial assets that have been derecognized | (13,399) | ||
Foreign exchange and other movements | 25,096 | ||
Ending balance | 100,922 | 20,807 | |
Individually assessed for credit losses [member] | Stage 2 [member] | Lifetime expected credit losses [member] | Gross assets [member] | |||
Disclosure of financial assets [line items] | |||
Beginning balance | 321,488 | 367,611 | |
- Transfer to stage 2 | 7,573 | ||
- Transfer to stage 3 | (84,512) | (116,202) | |
- Changes due to modifications that did not result in derecognition | (1,810) | ||
New financial assets originated or purchased | 80,355 | 55,367 | |
Financial assets that have been derecognized | (73,546) | (46,681) | |
Foreign exchange and other movements | 79,267 | 35,734 | |
Ending balance | 499,537 | 321,488 | |
Individually assessed for credit losses [member] | Stage 2 [member] | Lifetime expected credit losses [member] | Gross assets [member] | Commercial loans [member] | |||
Disclosure of financial assets [line items] | |||
Beginning balance | 321,488 | 367,611 | |
- Transfer to stage 2 | 7,573 | ||
- Transfer to stage 3 | (84,512) | (116,202) | |
- Changes due to modifications that did not result in derecognition | (1,810) | ||
New financial assets originated or purchased | 80,355 | 55,367 | |
Financial assets that have been derecognized | (73,546) | (46,681) | |
Foreign exchange and other movements | 79,267 | 35,734 | |
Ending balance | 499,537 | 321,488 | |
Individually assessed for credit losses [member] | Stage 3 [member] | Lifetime expected credit losses [member] | Gross assets [member] | |||
Disclosure of financial assets [line items] | |||
Beginning balance | 268,211 | 140,943 | |
- Transfer to stage 3 | 89,922 | 116,202 | |
- Charge-offs | (198) | (21,841) | |
- Changes due to modifications that did not result in derecognition | (1,279) | ||
New financial assets originated or purchased | 122,624 | 32,129 | |
Financial assets that have been derecognized | (104,964) | (11,754) | |
Foreign exchange and other movements | (37,840) | 12,532 | |
Ending balance | 488,495 | 268,211 | |
Individually assessed for credit losses [member] | Stage 3 [member] | Lifetime expected credit losses [member] | Gross assets [member] | Commercial loans [member] | |||
Disclosure of financial assets [line items] | |||
Beginning balance | 268,211 | 140,943 | |
- Transfer to stage 3 | 89,922 | 116,202 | |
- Charge-offs | (198) | (21,841) | |
- Changes due to modifications that did not result in derecognition | (1,279) | ||
New financial assets originated or purchased | 122,624 | 32,129 | |
Financial assets that have been derecognized | (104,964) | (11,754) | |
Foreign exchange and other movements | (37,840) | 12,532 | |
Ending balance | 488,495 | 268,211 | |
Collectively assessed for credit losses [member] | Gross assets [member] | |||
Disclosure of financial assets [line items] | |||
Beginning balance | 22,524,308 | 20,973,936 | |
- Charge-offs | (315,567) | (151,431) | |
- Changes due to modifications that did not result in derecognition | (262,888) | ||
New financial assets originated or purchased | 8,681,482 | 7,255,836 | |
Financial assets that have been derecognized | (8,258,678) | (5,997,019) | |
Foreign exchange and other movements | (467,658) | 489,452 | |
Ending balance | 21,529,027 | 22,524,308 | |
Collectively assessed for credit losses [member] | Gross assets [member] | Commercial loans [member] | |||
Disclosure of financial assets [line items] | |||
Beginning balance | 14,850,038 | 13,858,346 | |
- Charge-offs | (168,464) | (76,845) | |
- Changes due to modifications that did not result in derecognition | (171,166) | ||
New financial assets originated or purchased | 6,428,008 | 5,358,915 | |
Financial assets that have been derecognized | (6,516,745) | (4,705,469) | |
Foreign exchange and other movements | (329,854) | 461,557 | |
Ending balance | 13,719,845 | 14,850,038 | |
Collectively assessed for credit losses [member] | Gross assets [member] | Mortgages loans [member] | |||
Disclosure of financial assets [line items] | |||
Beginning balance | 4,876,041 | 4,445,827 | |
- Charge-offs | (12,491) | (12,381) | |
- Changes due to modifications that did not result in derecognition | (33,592) | ||
New financial assets originated or purchased | 1,050,291 | 782,870 | |
Financial assets that have been derecognized | (504,911) | (412,317) | |
Foreign exchange and other movements | (58,585) | 72,042 | |
Ending balance | 5,316,753 | 4,876,041 | |
Collectively assessed for credit losses [member] | Gross assets [member] | Consumer loans [member] | |||
Disclosure of financial assets [line items] | |||
Beginning balance | 2,798,229 | 2,669,763 | |
- Charge-offs | (134,612) | (62,205) | |
- Changes due to modifications that did not result in derecognition | (58,130) | ||
New financial assets originated or purchased | 1,203,183 | 1,114,051 | |
Financial assets that have been derecognized | (1,237,022) | (879,233) | |
Foreign exchange and other movements | (79,219) | (44,147) | |
Ending balance | 2,492,429 | 2,798,229 | |
Collectively assessed for credit losses [member] | IFRS9 [member] | Allowances for loan losses [member] | |||
Disclosure of financial assets [line items] | |||
Allowance for loan losses | 720,429 | 686,982 | |
Collectively assessed for credit losses [member] | IFRS9 [member] | Allowances for loan losses [member] | Commercial loans [member] | |||
Disclosure of financial assets [line items] | |||
Allowance for loan losses | 426,173 | 352,064 | |
Collectively assessed for credit losses [member] | IFRS9 [member] | Allowances for loan losses [member] | Mortgages loans [member] | |||
Disclosure of financial assets [line items] | |||
Allowance for loan losses | 73,465 | 78,501 | |
Collectively assessed for credit losses [member] | IFRS9 [member] | Allowances for loan losses [member] | Consumer loans [member] | |||
Disclosure of financial assets [line items] | |||
Allowance for loan losses | 220,791 | 256,417 | |
Collectively assessed for credit losses [member] | Stage1 [member] | 12-month expected credit losses [member] | Gross assets [member] | |||
Disclosure of financial assets [line items] | |||
Beginning balance | 18,691,115 | 17,697,774 | |
Changes in the allowances - Transfer to stage 1 | 627,546 | 392,454 | |
- Transfer to stage 2 | (1,791,800) | (749,463) | |
- Transfer to stage 3 | (69,979) | (113,903) | |
- Charge-offs | (15,705) | (13,979) | |
- Changes due to modifications that did not result in derecognition | (235,650) | ||
New financial assets originated or purchased | 6,798,612 | 6,487,407 | |
Financial assets that have been derecognized | (7,224,940) | (5,024,522) | |
Foreign exchange and other movements | (402,950) | 36,154 | |
Ending balance | 16,327,018 | 18,691,115 | |
Collectively assessed for credit losses [member] | Stage1 [member] | 12-month expected credit losses [member] | Gross assets [member] | Commercial loans [member] | |||
Disclosure of financial assets [line items] | |||
Beginning balance | 12,445,411 | 11,935,270 | |
Changes in the allowances - Transfer to stage 1 | 196,395 | 158,836 | |
- Transfer to stage 2 | (829,499) | (430,358) | |
- Transfer to stage 3 | (37,142) | (85,689) | |
- Charge-offs | (443) | (654) | |
- Changes due to modifications that did not result in derecognition | (156,731) | ||
New financial assets originated or purchased | 5,000,040 | 4,901,848 | |
Financial assets that have been derecognized | (5,865,418) | (4,049,247) | |
Foreign exchange and other movements | (275,404) | 36,212 | |
Ending balance | 10,427,978 | 12,445,411 | |
Collectively assessed for credit losses [member] | Stage1 [member] | 12-month expected credit losses [member] | Gross assets [member] | Mortgages loans [member] | |||
Disclosure of financial assets [line items] | |||
Beginning balance | 4,043,765 | 3,626,811 | |
Changes in the allowances - Transfer to stage 1 | 265,412 | 112,611 | |
- Transfer to stage 2 | (613,181) | (174,723) | |
- Transfer to stage 3 | (7,706) | (12,815) | |
- Charge-offs | (36) | ||
- Changes due to modifications that did not result in derecognition | (27,511) | ||
New financial assets originated or purchased | 971,616 | 763,342 | |
Financial assets that have been derecognized | (411,059) | (330,014) | |
Foreign exchange and other movements | (54,821) | 58,589 | |
Ending balance | 4,166,515 | 4,043,765 | |
Collectively assessed for credit losses [member] | Stage1 [member] | 12-month expected credit losses [member] | Gross assets [member] | Consumer loans [member] | |||
Disclosure of financial assets [line items] | |||
Beginning balance | 2,201,939 | 2,135,693 | |
Changes in the allowances - Transfer to stage 1 | 165,739 | 121,007 | |
- Transfer to stage 2 | (349,120) | (144,382) | |
- Transfer to stage 3 | (25,131) | (15,399) | |
- Charge-offs | (15,262) | (13,289) | |
- Changes due to modifications that did not result in derecognition | (51,408) | ||
New financial assets originated or purchased | 826,956 | 822,217 | |
Financial assets that have been derecognized | (948,463) | (645,261) | |
Foreign exchange and other movements | (72,725) | (58,647) | |
Ending balance | 1,732,525 | 2,201,939 | |
Collectively assessed for credit losses [member] | Stage 2 [member] | Lifetime expected credit losses [member] | Gross assets [member] | |||
Disclosure of financial assets [line items] | |||
Beginning balance | 2,864,199 | 2,532,128 | |
Changes in the allowances - Transfer to stage 1 | (601,963) | (371,983) | |
- Transfer to stage 2 | 1,876,532 | 816,577 | |
- Transfer to stage 3 | (153,174) | (192,565) | |
- Charge-offs | (38,228) | (22,862) | |
- Changes due to modifications that did not result in derecognition | (25,330) | ||
New financial assets originated or purchased | 1,474,294 | 583,765 | |
Financial assets that have been derecognized | (837,836) | (771,046) | |
Foreign exchange and other movements | (110,636) | 315,844 | |
Ending balance | 4,277,136 | 2,864,199 | |
Collectively assessed for credit losses [member] | Stage 2 [member] | Lifetime expected credit losses [member] | Gross assets [member] | Commercial loans [member] | |||
Disclosure of financial assets [line items] | |||
Beginning balance | 1,725,817 | 1,428,951 | |
Changes in the allowances - Transfer to stage 1 | (188,266) | (145,228) | |
- Transfer to stage 2 | 848,497 | 454,203 | |
- Transfer to stage 3 | (95,739) | (113,481) | |
- Charge-offs | (2,370) | (1,314) | |
- Changes due to modifications that did not result in derecognition | (11,529) | ||
New financial assets originated or purchased | 1,070,353 | 341,720 | |
Financial assets that have been derecognized | (508,072) | (506,777) | |
Foreign exchange and other movements | (103,453) | 293,402 | |
Ending balance | 2,564,516 | 1,725,817 | |
Collectively assessed for credit losses [member] | Stage 2 [member] | Lifetime expected credit losses [member] | Gross assets [member] | Mortgages loans [member] | |||
Disclosure of financial assets [line items] | |||
Beginning balance | 656,010 | 659,119 | |
Changes in the allowances - Transfer to stage 1 | (259,632) | (112,195) | |
- Transfer to stage 2 | 669,912 | 210,287 | |
- Transfer to stage 3 | (36,114) | (64,770) | |
- Charge-offs | (63) | (115) | |
- Changes due to modifications that did not result in derecognition | (6,693) | ||
New financial assets originated or purchased | 76,558 | 17,230 | |
Financial assets that have been derecognized | (71,328) | (62,240) | |
Foreign exchange and other movements | (2,729) | 8,694 | |
Ending balance | 1,025,921 | 656,010 | |
Collectively assessed for credit losses [member] | Stage 2 [member] | Lifetime expected credit losses [member] | Gross assets [member] | Consumer loans [member] | |||
Disclosure of financial assets [line items] | |||
Beginning balance | 482,372 | 444,058 | |
Changes in the allowances - Transfer to stage 1 | (154,065) | (114,560) | |
- Transfer to stage 2 | 358,123 | 152,087 | |
- Transfer to stage 3 | (21,321) | (14,314) | |
- Charge-offs | (35,795) | (21,433) | |
- Changes due to modifications that did not result in derecognition | (7,108) | ||
New financial assets originated or purchased | 327,383 | 224,815 | |
Financial assets that have been derecognized | (258,436) | (202,029) | |
Foreign exchange and other movements | (4,454) | 13,748 | |
Ending balance | 686,699 | 482,372 | |
Collectively assessed for credit losses [member] | Stage 3 [member] | Lifetime expected credit losses [member] | Gross assets [member] | |||
Disclosure of financial assets [line items] | |||
Beginning balance | 968,994 | 744,034 | |
Changes in the allowances - Transfer to stage 1 | (25,583) | (20,471) | |
- Transfer to stage 2 | (84,732) | (67,114) | |
- Transfer to stage 3 | 223,153 | 306,468 | |
- Charge-offs | (261,634) | (114,590) | |
- Changes due to modifications that did not result in derecognition | (1,908) | ||
New financial assets originated or purchased | 408,576 | 184,664 | |
Financial assets that have been derecognized | (195,902) | (201,451) | |
Foreign exchange and other movements | 45,928 | 137,454 | |
Ending balance | 924,873 | 968,994 | |
Collectively assessed for credit losses [member] | Stage 3 [member] | Lifetime expected credit losses [member] | Gross assets [member] | Commercial loans [member] | |||
Disclosure of financial assets [line items] | |||
Beginning balance | 678,810 | 494,125 | |
Changes in the allowances - Transfer to stage 1 | (8,129) | (13,608) | |
- Transfer to stage 2 | (18,998) | (23,845) | |
- Transfer to stage 3 | 132,881 | 199,170 | |
- Charge-offs | (165,651) | (74,877) | |
- Changes due to modifications that did not result in derecognition | (2,906) | ||
New financial assets originated or purchased | 357,615 | 115,347 | |
Financial assets that have been derecognized | (143,255) | (149,445) | |
Foreign exchange and other movements | 49,003 | 131,943 | |
Ending balance | 727,351 | 678,810 | |
Collectively assessed for credit losses [member] | Stage 3 [member] | Lifetime expected credit losses [member] | Gross assets [member] | Mortgages loans [member] | |||
Disclosure of financial assets [line items] | |||
Beginning balance | 176,266 | 159,897 | |
Changes in the allowances - Transfer to stage 1 | (5,780) | (416) | |
- Transfer to stage 2 | (56,731) | (35,564) | |
- Transfer to stage 3 | 43,820 | 77,585 | |
- Charge-offs | (12,428) | (12,230) | |
- Changes due to modifications that did not result in derecognition | 612 | ||
New financial assets originated or purchased | 2,117 | 2,298 | |
Financial assets that have been derecognized | (22,524) | (20,063) | |
Foreign exchange and other movements | (1,035) | 4,759 | |
Ending balance | 124,317 | 176,266 | |
Collectively assessed for credit losses [member] | Stage 3 [member] | Lifetime expected credit losses [member] | Gross assets [member] | Consumer loans [member] | |||
Disclosure of financial assets [line items] | |||
Beginning balance | 113,918 | 90,012 | |
Changes in the allowances - Transfer to stage 1 | (11,674) | (6,447) | |
- Transfer to stage 2 | (9,003) | (7,705) | |
- Transfer to stage 3 | 46,452 | 29,713 | |
- Charge-offs | (83,555) | (27,483) | |
- Changes due to modifications that did not result in derecognition | 386 | ||
New financial assets originated or purchased | 48,844 | 67,019 | |
Financial assets that have been derecognized | (30,123) | (31,943) | |
Foreign exchange and other movements | (2,040) | 752 | |
Ending balance | $ 73,205 | $ 113,918 |
Loans and Accounts Receivable_5
Loans and Accounts Receivable from Customers - Additional Information (Detail) $ in Millions, $ in Millions | 12 Months Ended | ||
Dec. 31, 2020CLP ($) | Dec. 31, 2019USD ($) | Dec. 31, 2019CLP ($) | |
Disclosure of financial assets [line items] | |||
Fair value of guarantees taken as percentage of assets | 145.15% | 135.51% | 135.51% |
Effect on result of Portfolio purchases and sales | $ 6,476 | $ 8,584 | |
Gain (loss) on sale of loans and receivables sold | $ 6,004 | ||
Provisions on sale from loans and receivables | 2,123 | ||
Percentage of portfolio sold | 100.00% | 100.00% | |
Lease receivables associated with movable assets [member] | |||
Disclosure of financial assets [line items] | |||
Loans and receivables from customers | 877,510 | $ 628,823 | |
Real Estate Assets [member] | |||
Disclosure of financial assets [line items] | |||
Loans and receivables from customers | $ 372,827 | $ 716,401 | |
Mortgages loans [member] | |||
Disclosure of financial assets [line items] | |||
Fair value of guarantees taken as percentage of loans and receivables | 96.88% | 89.87% | |
Loans and receivables from customers, net [member] | Net financial operating income [member] | |||
Disclosure of financial assets [line items] | |||
Gain (loss) on sale of loans and receivables sold | $ 6,476 | $ 8,584 | |
Loans and receivables from customers, net [member] | Adjustment to Effective Interest Rate [member] | |||
Disclosure of financial assets [line items] | |||
Gain (loss) on sale of loans and receivables sold | $ 6,717 | $ 9,079 |
Loans and Accounts Receivable_6
Loans and Accounts Receivable From Customers - Summary of Movements in Loan Portfolio (Detail) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Commercial loans [member] | |||
Disclosure of financial assets [line items] | |||
- Changes due to modifications that did not result in derecognition | $ 869 | $ 0 | |
New financial assets originated or purchased | 291,865 | 136,559 | |
Financial assets that have been derecognized | (162,519) | (114,655) | |
Foreign exchange and other movements | (4,773) | 20,589 | |
Allowance for loan losses | 747,617 | 545,199 | $ 484,707 |
Mortgages loans [member] | |||
Disclosure of financial assets [line items] | |||
- Changes due to modifications that did not result in derecognition | (1,344) | 0 | |
New financial assets originated or purchased | (2,312) | 3,481 | |
Financial assets that have been derecognized | (5,316) | (5,501) | |
Foreign exchange and other movements | 5,845 | 855 | |
Allowance for loan losses | 73,465 | 78,501 | 66,117 |
Consumer loans [member] | |||
Disclosure of financial assets [line items] | |||
- Changes due to modifications that did not result in derecognition | (314) | ||
New financial assets originated or purchased | 125,212 | ||
Financial assets that have been derecognized | (76,578) | ||
Foreign exchange and other movements | (5,849) | ||
Allowance for loan losses | 220,791 | 256,417 | |
Gross assets [member] | |||
Disclosure of financial assets [line items] | |||
Beginning balance | 23,134,814 | 21,482,490 | |
- Charge-offs | (315,765) | (173,272) | |
- Changes due to modifications that did not result in derecognition | (265,977) | ||
New financial assets originated or purchased | 8,916,631 | 7,343,332 | |
Financial assets that have been derecognized | (8,450,587) | (6,055,454) | |
Foreign exchange and other movements | (401,135) | 537,718 | |
Ending balance | 22,617,981 | 23,134,814 | |
Gross assets [member] | Commercial loans [member] | |||
Disclosure of financial assets [line items] | |||
Beginning balance | 15,460,544 | 14,366,900 | |
- Charge-offs | (168,662) | (98,686) | |
- Changes due to modifications that did not result in derecognition | (174,255) | ||
New financial assets originated or purchased | 6,663,157 | 5,446,411 | |
Financial assets that have been derecognized | (6,708,654) | (4,763,904) | |
Foreign exchange and other movements | (263,331) | 509,823 | |
Ending balance | 14,808,799 | 15,460,544 | |
IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
- Changes due to modifications that did not result in derecognition | (789) | 0 | |
New financial assets originated or purchased | 414,765 | 282,800 | |
Financial assets that have been derecognized | (244,413) | (199,319) | |
Foreign exchange and other movements | (4,777) | 37,787 | |
Allowance for loan losses | 1,041,873 | 880,117 | $ 768,120 |
Net carrying amount | 21,576,108 | 22,254,697 | |
IFRS9 [member] | Commercial loans [member] | |||
Disclosure of financial assets [line items] | |||
Net carrying amount | 14,061,182 | 14,915,345 | |
IFRS9 [member] | Mortgages loans [member] | |||
Disclosure of financial assets [line items] | |||
Net carrying amount | 5,243,288 | 4,797,540 | |
IFRS9 [member] | Consumer loans [member] | |||
Disclosure of financial assets [line items] | |||
Net carrying amount | 2,271,638 | 2,541,812 | |
IFRS9 [member] | Gross assets [member] | |||
Disclosure of financial assets [line items] | |||
Beginning balance | 23,134,814 | ||
Ending balance | 22,617,981 | 23,134,814 | |
IFRS9 [member] | Gross assets [member] | Commercial loans [member] | |||
Disclosure of financial assets [line items] | |||
Beginning balance | 15,460,544 | ||
Ending balance | 14,808,799 | 15,460,544 | |
IFRS9 [member] | Gross assets [member] | Mortgages loans [member] | |||
Disclosure of financial assets [line items] | |||
Beginning balance | 4,876,041 | ||
Ending balance | 5,316,753 | 4,876,041 | |
IFRS9 [member] | Gross assets [member] | Consumer loans [member] | |||
Disclosure of financial assets [line items] | |||
Beginning balance | 2,798,229 | ||
Ending balance | 2,492,429 | 2,798,229 | |
IFRS9 [member] | Allowances for loan losses [member] | |||
Disclosure of financial assets [line items] | |||
Allowance for loan losses | 1,041,873 | 880,117 | |
IFRS9 [member] | Allowances for loan losses [member] | Commercial loans [member] | |||
Disclosure of financial assets [line items] | |||
Allowance for loan losses | 747,617 | 545,199 | |
IFRS9 [member] | Allowances for loan losses [member] | Mortgages loans [member] | |||
Disclosure of financial assets [line items] | |||
Allowance for loan losses | 73,465 | 78,501 | |
IFRS9 [member] | Allowances for loan losses [member] | Consumer loans [member] | |||
Disclosure of financial assets [line items] | |||
Allowance for loan losses | $ 220,791 | $ 256,417 |
Loans and Accounts Receivable_7
Loans and Accounts Receivable From Customers - Schedule of Loan Portfolio Before Allowances for Loan Losses by Customer Economic (Detail) - Gross assets [member] - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of financial assets [line items] | |||
Financial assets | $ 22,617,981 | $ 23,134,814 | $ 21,482,490 |
Commercial loans [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | 14,808,799 | 15,460,544 | $ 14,366,900 |
Loans and receivables from customers, net [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | $ 22,617,981 | $ 23,134,814 | |
Financial assets percentage | 100.00% | 100.00% | |
Loans and receivables from customers, net [member] | Local loans [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | $ 17,483,587 | $ 17,343,198 | |
Loans and receivables from customers, net [member] | Foreign loans [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | 5,134,394 | 5,791,616 | |
Loans and receivables from customers, net [member] | Commercial loans [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | $ 14,808,799 | $ 15,460,544 | |
Financial assets percentage | 65.48% | 66.82% | |
Loans and receivables from customers, net [member] | Commercial loans [member] | Local loans [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | $ 11,092,373 | $ 11,208,359 | |
Loans and receivables from customers, net [member] | Commercial loans [member] | Foreign loans [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | 3,716,426 | 4,252,185 | |
Loans and receivables from customers, net [member] | Commercial loans [member] | Manufacturing [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | $ 1,061,166 | $ 1,099,739 | |
Financial assets percentage | 4.69% | 4.75% | |
Loans and receivables from customers, net [member] | Commercial loans [member] | Manufacturing [member] | Local loans [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | $ 973,913 | $ 988,739 | |
Loans and receivables from customers, net [member] | Commercial loans [member] | Manufacturing [member] | Foreign loans [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | 87,253 | 111,000 | |
Loans and receivables from customers, net [member] | Commercial loans [member] | Mining [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | $ 534,989 | $ 551,615 | |
Financial assets percentage | 2.37% | 2.38% | |
Loans and receivables from customers, net [member] | Commercial loans [member] | Mining [member] | Local loans [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | $ 336,354 | $ 292,263 | |
Loans and receivables from customers, net [member] | Commercial loans [member] | Mining [member] | Foreign loans [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | 198,635 | 259,352 | |
Loans and receivables from customers, net [member] | Commercial loans [member] | Electricity, gas and water [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | $ 1,099,845 | $ 1,125,541 | |
Financial assets percentage | 4.86% | 4.87% | |
Loans and receivables from customers, net [member] | Commercial loans [member] | Electricity, gas and water [member] | Local loans [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | $ 694,970 | $ 685,749 | |
Loans and receivables from customers, net [member] | Commercial loans [member] | Electricity, gas and water [member] | Foreign loans [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | 404,875 | 439,792 | |
Loans and receivables from customers, net [member] | Commercial loans [member] | Agriculture and livestock [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | $ 494,754 | $ 483,943 | |
Financial assets percentage | 2.19% | 2.09% | |
Loans and receivables from customers, net [member] | Commercial loans [member] | Agriculture and livestock [member] | Local loans [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | $ 328,563 | $ 309,648 | |
Loans and receivables from customers, net [member] | Commercial loans [member] | Agriculture and livestock [member] | Foreign loans [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | 166,191 | 174,295 | |
Loans and receivables from customers, net [member] | Commercial loans [member] | Forestry and wood extraction [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | $ 56,022 | $ 53,328 | |
Financial assets percentage | 0.25% | 0.23% | |
Loans and receivables from customers, net [member] | Commercial loans [member] | Forestry and wood extraction [member] | Local loans [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | $ 51,348 | $ 48,192 | |
Loans and receivables from customers, net [member] | Commercial loans [member] | Forestry and wood extraction [member] | Foreign loans [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | 4,674 | 5,136 | |
Loans and receivables from customers, net [member] | Commercial loans [member] | Fishing [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | $ 35,734 | $ 46,902 | |
Financial assets percentage | 0.16% | 0.20% | |
Loans and receivables from customers, net [member] | Commercial loans [member] | Fishing [member] | Local loans [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | $ 31,461 | $ 42,397 | |
Loans and receivables from customers, net [member] | Commercial loans [member] | Fishing [member] | Foreign loans [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | 4,273 | 4,505 | |
Loans and receivables from customers, net [member] | Commercial loans [member] | Transport [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | $ 587,013 | $ 559,271 | |
Financial assets percentage | 2.60% | 2.42% | |
Loans and receivables from customers, net [member] | Commercial loans [member] | Transport [member] | Local loans [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | $ 498,450 | $ 478,737 | |
Loans and receivables from customers, net [member] | Commercial loans [member] | Transport [member] | Foreign loans [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | 88,563 | 80,534 | |
Loans and receivables from customers, net [member] | Commercial loans [member] | Communications [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | $ 56,165 | $ 34,926 | |
Financial assets percentage | 0.25% | 0.15% | |
Loans and receivables from customers, net [member] | Commercial loans [member] | Communications [member] | Local loans [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | $ 52,911 | $ 25,209 | |
Loans and receivables from customers, net [member] | Commercial loans [member] | Communications [member] | Foreign loans [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | 3,254 | 9,717 | |
Loans and receivables from customers, net [member] | Commercial loans [member] | Construction [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | $ 1,837,683 | $ 2,106,829 | |
Financial assets percentage | 8.12% | 9.11% | |
Loans and receivables from customers, net [member] | Commercial loans [member] | Construction [member] | Local loans [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | $ 1,536,686 | $ 1,757,874 | |
Loans and receivables from customers, net [member] | Commercial loans [member] | Construction [member] | Foreign loans [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | 300,997 | 348,955 | |
Loans and receivables from customers, net [member] | Commercial loans [member] | Commerce [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | $ 2,211,152 | $ 2,129,179 | |
Financial assets percentage | 9.78% | 9.20% | |
Loans and receivables from customers, net [member] | Commercial loans [member] | Commerce [member] | Local loans [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | $ 1,618,660 | $ 1,439,969 | |
Loans and receivables from customers, net [member] | Commercial loans [member] | Commerce [member] | Foreign loans [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | 592,492 | 689,210 | |
Loans and receivables from customers, net [member] | Commercial loans [member] | Services [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | $ 3,601,051 | $ 3,944,571 | |
Financial assets percentage | 15.92% | 17.05% | |
Loans and receivables from customers, net [member] | Commercial loans [member] | Services [member] | Local loans [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | $ 2,761,121 | $ 2,864,307 | |
Loans and receivables from customers, net [member] | Commercial loans [member] | Services [member] | Foreign loans [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | 839,930 | 1,080,264 | |
Loans and receivables from customers, net [member] | Commercial loans [member] | Others [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | $ 3,233,225 | $ 3,324,700 | |
Financial assets percentage | 14.29% | 14.37% | |
Loans and receivables from customers, net [member] | Commercial loans [member] | Others [member] | Local loans [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | $ 2,207,936 | $ 2,275,275 | |
Loans and receivables from customers, net [member] | Commercial loans [member] | Others [member] | Foreign loans [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | 1,025,289 | 1,049,425 | |
Loans and receivables from customers, net [member] | Mortgages loans [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | $ 5,316,753 | $ 4,876,041 | |
Financial assets percentage | 23.51% | 21.08% | |
Loans and receivables from customers, net [member] | Mortgages loans [member] | Local loans [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | $ 4,684,980 | $ 4,211,094 | |
Loans and receivables from customers, net [member] | Mortgages loans [member] | Foreign loans [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | 631,773 | 664,947 | |
Loans and receivables from customers, net [member] | Consumer loans [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | $ 2,492,429 | $ 2,798,229 | |
Financial assets percentage | 11.02% | 12.10% | |
Loans and receivables from customers, net [member] | Consumer loans [member] | Local loans [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | $ 1,706,234 | $ 1,923,745 | |
Loans and receivables from customers, net [member] | Consumer loans [member] | Foreign loans [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | $ 786,195 | $ 874,484 |
Loans and Accounts Receivable_8
Loans and Accounts Receivable From Customers - Movements in Loan Portfolio disaggregated by individually and grouped assessed loans - Commercial loans (Detail) - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Commercial loans [member] | ||
Disclosure of financial assets [line items] | ||
- Changes due to modifications that did not result in derecognition | $ 869 | $ 0 |
New financial assets originated or purchased | 291,865 | 136,559 |
Financial assets that have been derecognized | (162,519) | (114,655) |
Foreign exchange and other movements | (4,773) | 20,589 |
Gross assets [member] | ||
Disclosure of financial assets [line items] | ||
Beginning balance | 23,134,814 | 21,482,490 |
- Charge-offs | (315,765) | (173,272) |
- Changes due to modifications that did not result in derecognition | (265,977) | |
New financial assets originated or purchased | 8,916,631 | 7,343,332 |
Financial assets that have been derecognized | (8,450,587) | (6,055,454) |
Foreign exchange and other movements | (401,135) | 537,718 |
Ending balance | 22,617,981 | 23,134,814 |
Gross assets [member] | Commercial loans [member] | ||
Disclosure of financial assets [line items] | ||
Beginning balance | 15,460,544 | 14,366,900 |
- Charge-offs | (168,662) | (98,686) |
- Changes due to modifications that did not result in derecognition | (174,255) | |
New financial assets originated or purchased | 6,663,157 | 5,446,411 |
Financial assets that have been derecognized | (6,708,654) | (4,763,904) |
Foreign exchange and other movements | (263,331) | 509,823 |
Ending balance | 14,808,799 | 15,460,544 |
IFRS9 [member] | ||
Disclosure of financial assets [line items] | ||
- Changes due to modifications that did not result in derecognition | (789) | 0 |
New financial assets originated or purchased | 414,765 | 282,800 |
Financial assets that have been derecognized | (244,413) | (199,319) |
Foreign exchange and other movements | (4,777) | 37,787 |
IFRS9 [member] | Gross assets [member] | ||
Disclosure of financial assets [line items] | ||
Beginning balance | 23,134,814 | |
Ending balance | 22,617,981 | 23,134,814 |
IFRS9 [member] | Gross assets [member] | Commercial loans [member] | ||
Disclosure of financial assets [line items] | ||
Beginning balance | 15,460,544 | |
Ending balance | 14,808,799 | 15,460,544 |
Individually assessed for credit losses [member] | Gross assets [member] | ||
Disclosure of financial assets [line items] | ||
Beginning balance | 610,506 | 508,554 |
- Charge-offs | (198) | (21,841) |
- Changes due to modifications that did not result in derecognition | (3,089) | |
New financial assets originated or purchased | 235,149 | 87,496 |
Financial assets that have been derecognized | (191,909) | (58,435) |
Net transfer from (to) group assessed | 371,972 | 46,466 |
Foreign exchange and other movements | 66,523 | 48,266 |
Ending balance | 1,088,954 | 610,506 |
Individually assessed for credit losses [member] | Gross assets [member] | Commercial loans [member] | ||
Disclosure of financial assets [line items] | ||
Beginning balance | 610,506 | 508,554 |
- Charge-offs | (198) | (21,841) |
- Changes due to modifications that did not result in derecognition | (3,089) | |
New financial assets originated or purchased | 235,149 | 87,496 |
Financial assets that have been derecognized | (191,909) | (58,435) |
Net transfer from (to) group assessed | 371,972 | 46,466 |
Foreign exchange and other movements | 66,523 | 48,266 |
Ending balance | 1,088,954 | 610,506 |
Individually assessed for credit losses [member] | Stage1 [member] | 12-month expected credit losses [member] | Gross assets [member] | ||
Disclosure of financial assets [line items] | ||
Beginning balance | 20,807 | |
- Transfer to stage 2 | (7,573) | |
- Transfer to stage 3 | (5,410) | |
New financial assets originated or purchased | 32,170 | |
Financial assets that have been derecognized | (13,399) | |
Net transfer from (to) group assessed | 49,231 | 20,807 |
Foreign exchange and other movements | 25,096 | |
Ending balance | 100,922 | 20,807 |
Individually assessed for credit losses [member] | Stage1 [member] | 12-month expected credit losses [member] | Gross assets [member] | Commercial loans [member] | ||
Disclosure of financial assets [line items] | ||
Beginning balance | 20,807 | |
- Transfer to stage 2 | (7,573) | |
- Transfer to stage 3 | (5,410) | |
New financial assets originated or purchased | 32,170 | |
Financial assets that have been derecognized | (13,399) | |
Net transfer from (to) group assessed | 49,231 | 20,807 |
Foreign exchange and other movements | 25,096 | |
Ending balance | 100,922 | 20,807 |
Individually assessed for credit losses [member] | Stage 2 [member] | Lifetime expected credit losses [member] | Gross assets [member] | ||
Disclosure of financial assets [line items] | ||
Beginning balance | 321,488 | 367,611 |
- Transfer to stage 2 | 7,573 | |
- Transfer to stage 3 | (84,512) | (116,202) |
- Changes due to modifications that did not result in derecognition | (1,810) | |
New financial assets originated or purchased | 80,355 | 55,367 |
Financial assets that have been derecognized | (73,546) | (46,681) |
Net transfer from (to) group assessed | 170,722 | 25,659 |
Foreign exchange and other movements | 79,267 | 35,734 |
Ending balance | 499,537 | 321,488 |
Individually assessed for credit losses [member] | Stage 2 [member] | Lifetime expected credit losses [member] | Gross assets [member] | Commercial loans [member] | ||
Disclosure of financial assets [line items] | ||
Beginning balance | 321,488 | 367,611 |
- Transfer to stage 2 | 7,573 | |
- Transfer to stage 3 | (84,512) | (116,202) |
- Changes due to modifications that did not result in derecognition | (1,810) | |
New financial assets originated or purchased | 80,355 | 55,367 |
Financial assets that have been derecognized | (73,546) | (46,681) |
Net transfer from (to) group assessed | 170,722 | 25,659 |
Foreign exchange and other movements | 79,267 | 35,734 |
Ending balance | 499,537 | 321,488 |
Individually assessed for credit losses [member] | Stage 3 [member] | Lifetime expected credit losses [member] | Gross assets [member] | ||
Disclosure of financial assets [line items] | ||
Beginning balance | 268,211 | 140,943 |
- Transfer to stage 3 | 89,922 | 116,202 |
- Charge-offs | (198) | (21,841) |
- Changes due to modifications that did not result in derecognition | (1,279) | |
New financial assets originated or purchased | 122,624 | 32,129 |
Financial assets that have been derecognized | (104,964) | (11,754) |
Net transfer from (to) group assessed | 152,019 | |
Foreign exchange and other movements | (37,840) | 12,532 |
Ending balance | 488,495 | 268,211 |
Individually assessed for credit losses [member] | Stage 3 [member] | Lifetime expected credit losses [member] | Gross assets [member] | Commercial loans [member] | ||
Disclosure of financial assets [line items] | ||
Beginning balance | 268,211 | 140,943 |
- Transfer to stage 3 | 89,922 | 116,202 |
- Charge-offs | (198) | (21,841) |
- Changes due to modifications that did not result in derecognition | (1,279) | |
New financial assets originated or purchased | 122,624 | 32,129 |
Financial assets that have been derecognized | (104,964) | (11,754) |
Net transfer from (to) group assessed | 152,019 | |
Foreign exchange and other movements | (37,840) | 12,532 |
Ending balance | 488,495 | 268,211 |
Collectively assessed for credit losses [member] | Gross assets [member] | ||
Disclosure of financial assets [line items] | ||
Beginning balance | 22,524,308 | 20,973,936 |
- Charge-offs | (315,567) | (151,431) |
- Changes due to modifications that did not result in derecognition | (262,888) | |
New financial assets originated or purchased | 8,681,482 | 7,255,836 |
Financial assets that have been derecognized | (8,258,678) | (5,997,019) |
Net transfer from (to) group assessed | (371,972) | (46,466) |
Foreign exchange and other movements | (467,658) | 489,452 |
Ending balance | 21,529,027 | 22,524,308 |
Collectively assessed for credit losses [member] | Gross assets [member] | Commercial loans [member] | ||
Disclosure of financial assets [line items] | ||
Beginning balance | 14,850,038 | 13,858,346 |
- Charge-offs | (168,464) | (76,845) |
- Changes due to modifications that did not result in derecognition | (171,166) | |
New financial assets originated or purchased | 6,428,008 | 5,358,915 |
Financial assets that have been derecognized | (6,516,745) | (4,705,469) |
Net transfer from (to) group assessed | (371,972) | (46,466) |
Foreign exchange and other movements | (329,854) | 461,557 |
Ending balance | 13,719,845 | 14,850,038 |
Collectively assessed for credit losses [member] | Stage1 [member] | 12-month expected credit losses [member] | Gross assets [member] | ||
Disclosure of financial assets [line items] | ||
Beginning balance | 18,691,115 | 17,697,774 |
Changes in the allowances - Transfer to stage 1 | 627,546 | 392,454 |
- Transfer to stage 2 | (1,791,800) | (749,463) |
- Transfer to stage 3 | (69,979) | (113,903) |
- Charge-offs | (15,705) | (13,979) |
- Changes due to modifications that did not result in derecognition | (235,650) | |
New financial assets originated or purchased | 6,798,612 | 6,487,407 |
Financial assets that have been derecognized | (7,224,940) | (5,024,522) |
Net transfer from (to) group assessed | (49,231) | (20,807) |
Foreign exchange and other movements | (402,950) | 36,154 |
Ending balance | 16,327,018 | 18,691,115 |
Collectively assessed for credit losses [member] | Stage1 [member] | 12-month expected credit losses [member] | Gross assets [member] | Commercial loans [member] | ||
Disclosure of financial assets [line items] | ||
Beginning balance | 12,445,411 | 11,935,270 |
Changes in the allowances - Transfer to stage 1 | 196,395 | 158,836 |
- Transfer to stage 2 | (829,499) | (430,358) |
- Transfer to stage 3 | (37,142) | (85,689) |
- Charge-offs | (443) | (654) |
- Changes due to modifications that did not result in derecognition | (156,731) | |
New financial assets originated or purchased | 5,000,040 | 4,901,848 |
Financial assets that have been derecognized | (5,865,418) | (4,049,247) |
Net transfer from (to) group assessed | (49,231) | (20,807) |
Foreign exchange and other movements | (275,404) | 36,212 |
Ending balance | 10,427,978 | 12,445,411 |
Collectively assessed for credit losses [member] | Stage 2 [member] | Lifetime expected credit losses [member] | Gross assets [member] | ||
Disclosure of financial assets [line items] | ||
Beginning balance | 2,864,199 | 2,532,128 |
Changes in the allowances - Transfer to stage 1 | (601,963) | (371,983) |
- Transfer to stage 2 | 1,876,532 | 816,577 |
- Transfer to stage 3 | (153,174) | (192,565) |
- Charge-offs | (38,228) | (22,862) |
- Changes due to modifications that did not result in derecognition | (25,330) | |
New financial assets originated or purchased | 1,474,294 | 583,765 |
Financial assets that have been derecognized | (837,836) | (771,046) |
Net transfer from (to) group assessed | (170,722) | (25,659) |
Foreign exchange and other movements | (110,636) | 315,844 |
Ending balance | 4,277,136 | 2,864,199 |
Collectively assessed for credit losses [member] | Stage 2 [member] | Lifetime expected credit losses [member] | Gross assets [member] | Commercial loans [member] | ||
Disclosure of financial assets [line items] | ||
Beginning balance | 1,725,817 | 1,428,951 |
Changes in the allowances - Transfer to stage 1 | (188,266) | (145,228) |
- Transfer to stage 2 | 848,497 | 454,203 |
- Transfer to stage 3 | (95,739) | (113,481) |
- Charge-offs | (2,370) | (1,314) |
- Changes due to modifications that did not result in derecognition | (11,529) | |
New financial assets originated or purchased | 1,070,353 | 341,720 |
Financial assets that have been derecognized | (508,072) | (506,777) |
Net transfer from (to) group assessed | (170,722) | (25,659) |
Foreign exchange and other movements | (103,453) | 293,402 |
Ending balance | 2,564,516 | 1,725,817 |
Collectively assessed for credit losses [member] | Stage 3 [member] | Lifetime expected credit losses [member] | Gross assets [member] | ||
Disclosure of financial assets [line items] | ||
Beginning balance | 968,994 | 744,034 |
Changes in the allowances - Transfer to stage 1 | (25,583) | (20,471) |
- Transfer to stage 2 | (84,732) | (67,114) |
- Transfer to stage 3 | 223,153 | 306,468 |
- Charge-offs | (261,634) | (114,590) |
- Changes due to modifications that did not result in derecognition | (1,908) | |
New financial assets originated or purchased | 408,576 | 184,664 |
Financial assets that have been derecognized | (195,902) | (201,451) |
Net transfer from (to) group assessed | (152,019) | |
Foreign exchange and other movements | 45,928 | 137,454 |
Ending balance | 924,873 | 968,994 |
Collectively assessed for credit losses [member] | Stage 3 [member] | Lifetime expected credit losses [member] | Gross assets [member] | Commercial loans [member] | ||
Disclosure of financial assets [line items] | ||
Beginning balance | 678,810 | 494,125 |
Changes in the allowances - Transfer to stage 1 | (8,129) | (13,608) |
- Transfer to stage 2 | (18,998) | (23,845) |
- Transfer to stage 3 | 132,881 | 199,170 |
- Charge-offs | (165,651) | (74,877) |
- Changes due to modifications that did not result in derecognition | (2,906) | |
New financial assets originated or purchased | 357,615 | 115,347 |
Financial assets that have been derecognized | (143,255) | (149,445) |
Net transfer from (to) group assessed | (152,019) | |
Foreign exchange and other movements | 49,003 | 131,943 |
Ending balance | $ 727,351 | $ 678,810 |
Loans and Accounts Receivable_9
Loans and Accounts Receivable From Customers - Movements in Loan Portfolio disaggregated by individually and grouped assessed loans - Mortgage loans (Detail) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Mortgages loans [member] | |||
Disclosure of financial assets [line items] | |||
- Changes due to modifications that did not result in derecognition | $ 1,344 | $ 0 | |
New financial assets originated or purchased | 2,312 | (3,481) | |
Financial assets that have been derecognized | 5,316 | 5,501 | |
Foreign exchange and other movements | (5,845) | (855) | |
Allowance for loan losses | 73,465 | 78,501 | $ 66,117 |
Gross assets [member] | |||
Disclosure of financial assets [line items] | |||
Beginning balance | (23,134,814) | (21,482,490) | |
- Charge-offs | 315,765 | 173,272 | |
- Changes due to modifications that did not result in derecognition | 265,977 | ||
New financial assets originated or purchased | (8,916,631) | (7,343,332) | |
Financial assets that have been derecognized | 8,450,587 | 6,055,454 | |
Foreign exchange and other movements | 401,135 | (537,718) | |
Ending balance | (22,617,981) | (23,134,814) | |
IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
- Changes due to modifications that did not result in derecognition | 789 | 0 | |
New financial assets originated or purchased | (414,765) | (282,800) | |
Financial assets that have been derecognized | 244,413 | 199,319 | |
Foreign exchange and other movements | 4,777 | (37,787) | |
Allowance for loan losses | 1,041,873 | 880,117 | $ 768,120 |
Net carrying amount | 21,576,108 | 22,254,697 | |
IFRS9 [member] | Mortgages loans [member] | |||
Disclosure of financial assets [line items] | |||
Net carrying amount | 5,243,288 | 4,797,540 | |
IFRS9 [member] | Gross assets [member] | |||
Disclosure of financial assets [line items] | |||
Beginning balance | (23,134,814) | ||
Ending balance | (22,617,981) | (23,134,814) | |
IFRS9 [member] | Gross assets [member] | Mortgages loans [member] | |||
Disclosure of financial assets [line items] | |||
Beginning balance | (4,876,041) | ||
Ending balance | (5,316,753) | (4,876,041) | |
Collectively assessed for credit losses [member] | Gross assets [member] | |||
Disclosure of financial assets [line items] | |||
Beginning balance | (22,524,308) | (20,973,936) | |
- Charge-offs | 315,567 | 151,431 | |
- Changes due to modifications that did not result in derecognition | 262,888 | ||
New financial assets originated or purchased | (8,681,482) | (7,255,836) | |
Financial assets that have been derecognized | 8,258,678 | 5,997,019 | |
Foreign exchange and other movements | 467,658 | (489,452) | |
Ending balance | (21,529,027) | (22,524,308) | |
Collectively assessed for credit losses [member] | Gross assets [member] | Mortgages loans [member] | |||
Disclosure of financial assets [line items] | |||
Beginning balance | (4,876,041) | (4,445,827) | |
- Charge-offs | 12,491 | 12,381 | |
- Changes due to modifications that did not result in derecognition | 33,592 | ||
New financial assets originated or purchased | (1,050,291) | (782,870) | |
Financial assets that have been derecognized | 504,911 | 412,317 | |
Foreign exchange and other movements | 58,585 | (72,042) | |
Ending balance | (5,316,753) | (4,876,041) | |
Collectively assessed for credit losses [member] | Stage1 [member] | 12-month expected credit losses [member] | Gross assets [member] | |||
Disclosure of financial assets [line items] | |||
Beginning balance | (18,691,115) | (17,697,774) | |
Changes in the allowances - Transfer to stage 1 | (627,546) | (392,454) | |
- Transfer to stage 2 | 1,791,800 | 749,463 | |
- Transfer to stage 3 | 69,979 | 113,903 | |
- Charge-offs | 15,705 | 13,979 | |
- Changes due to modifications that did not result in derecognition | 235,650 | ||
New financial assets originated or purchased | (6,798,612) | (6,487,407) | |
Financial assets that have been derecognized | 7,224,940 | 5,024,522 | |
Foreign exchange and other movements | 402,950 | (36,154) | |
Ending balance | (16,327,018) | (18,691,115) | |
Collectively assessed for credit losses [member] | Stage1 [member] | 12-month expected credit losses [member] | Gross assets [member] | Mortgages loans [member] | |||
Disclosure of financial assets [line items] | |||
Beginning balance | (4,043,765) | (3,626,811) | |
Changes in the allowances - Transfer to stage 1 | (265,412) | (112,611) | |
- Transfer to stage 2 | 613,181 | 174,723 | |
- Transfer to stage 3 | 7,706 | 12,815 | |
- Charge-offs | 36 | ||
- Changes due to modifications that did not result in derecognition | 27,511 | ||
New financial assets originated or purchased | (971,616) | (763,342) | |
Financial assets that have been derecognized | 411,059 | 330,014 | |
Foreign exchange and other movements | 54,821 | (58,589) | |
Ending balance | (4,166,515) | (4,043,765) | |
Collectively assessed for credit losses [member] | Stage 2 [member] | Lifetime expected credit losses [member] | Gross assets [member] | |||
Disclosure of financial assets [line items] | |||
Beginning balance | (2,864,199) | (2,532,128) | |
Changes in the allowances - Transfer to stage 1 | 601,963 | 371,983 | |
- Transfer to stage 2 | (1,876,532) | (816,577) | |
- Transfer to stage 3 | 153,174 | 192,565 | |
- Charge-offs | 38,228 | 22,862 | |
- Changes due to modifications that did not result in derecognition | 25,330 | ||
New financial assets originated or purchased | (1,474,294) | (583,765) | |
Financial assets that have been derecognized | 837,836 | 771,046 | |
Foreign exchange and other movements | 110,636 | (315,844) | |
Ending balance | (4,277,136) | (2,864,199) | |
Collectively assessed for credit losses [member] | Stage 2 [member] | Lifetime expected credit losses [member] | Gross assets [member] | Mortgages loans [member] | |||
Disclosure of financial assets [line items] | |||
Beginning balance | (656,010) | (659,119) | |
Changes in the allowances - Transfer to stage 1 | 259,632 | 112,195 | |
- Transfer to stage 2 | (669,912) | (210,287) | |
- Transfer to stage 3 | 36,114 | 64,770 | |
- Charge-offs | 63 | 115 | |
- Changes due to modifications that did not result in derecognition | 6,693 | ||
New financial assets originated or purchased | (76,558) | (17,230) | |
Financial assets that have been derecognized | 71,328 | 62,240 | |
Foreign exchange and other movements | 2,729 | (8,694) | |
Ending balance | (1,025,921) | (656,010) | |
Collectively assessed for credit losses [member] | Stage 3 [member] | Lifetime expected credit losses [member] | Gross assets [member] | |||
Disclosure of financial assets [line items] | |||
Beginning balance | (968,994) | (744,034) | |
Changes in the allowances - Transfer to stage 1 | 25,583 | 20,471 | |
- Transfer to stage 2 | 84,732 | 67,114 | |
- Transfer to stage 3 | (223,153) | (306,468) | |
- Charge-offs | 261,634 | 114,590 | |
- Changes due to modifications that did not result in derecognition | 1,908 | ||
New financial assets originated or purchased | (408,576) | (184,664) | |
Financial assets that have been derecognized | 195,902 | 201,451 | |
Foreign exchange and other movements | (45,928) | (137,454) | |
Ending balance | (924,873) | (968,994) | |
Collectively assessed for credit losses [member] | Stage 3 [member] | Lifetime expected credit losses [member] | Gross assets [member] | Mortgages loans [member] | |||
Disclosure of financial assets [line items] | |||
Beginning balance | (176,266) | (159,897) | |
Changes in the allowances - Transfer to stage 1 | 5,780 | 416 | |
- Transfer to stage 2 | 56,731 | 35,564 | |
- Transfer to stage 3 | (43,820) | (77,585) | |
- Charge-offs | 12,428 | 12,230 | |
- Changes due to modifications that did not result in derecognition | (612) | ||
New financial assets originated or purchased | (2,117) | (2,298) | |
Financial assets that have been derecognized | 22,524 | 20,063 | |
Foreign exchange and other movements | 1,035 | (4,759) | |
Ending balance | $ (124,317) | $ (176,266) |
Loans and Accounts Receivabl_10
Loans and Accounts Receivable From Customers - Movements in Loan Portfolio disaggregated by individually and grouped assessed loans - Consumer loans (Detail) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Consumer loans [member] | |||
Disclosure of financial assets [line items] | |||
- Changes due to modifications that did not result in derecognition | $ 314 | ||
New financial assets originated or purchased | (125,212) | ||
Financial assets that have been derecognized | 76,578 | ||
Foreign exchange and other movements | 5,849 | ||
Allowance for loan losses | 220,791 | $ 256,417 | |
Gross assets [member] | |||
Disclosure of financial assets [line items] | |||
Beginning balance | (23,134,814) | (21,482,490) | |
- Charge-offs | 315,765 | 173,272 | |
- Changes due to modifications that did not result in derecognition | 265,977 | ||
New financial assets originated or purchased | (8,916,631) | (7,343,332) | |
Financial assets that have been derecognized | 8,450,587 | 6,055,454 | |
Foreign exchange and other movements | 401,135 | (537,718) | |
Ending balance | (22,617,981) | (23,134,814) | |
IFRS9 [member] | |||
Disclosure of financial assets [line items] | |||
- Changes due to modifications that did not result in derecognition | 789 | 0 | |
New financial assets originated or purchased | (414,765) | (282,800) | |
Financial assets that have been derecognized | 244,413 | 199,319 | |
Foreign exchange and other movements | 4,777 | (37,787) | |
Allowance for loan losses | 1,041,873 | 880,117 | $ 768,120 |
Loans and receivables from customers | 21,576,108 | 22,254,697 | |
IFRS9 [member] | Consumer loans [member] | |||
Disclosure of financial assets [line items] | |||
Loans and receivables from customers | 2,271,638 | 2,541,812 | |
IFRS9 [member] | Gross assets [member] | |||
Disclosure of financial assets [line items] | |||
Beginning balance | (23,134,814) | ||
Ending balance | (22,617,981) | (23,134,814) | |
IFRS9 [member] | Gross assets [member] | Consumer loans [member] | |||
Disclosure of financial assets [line items] | |||
Beginning balance | (2,798,229) | ||
Ending balance | (2,492,429) | (2,798,229) | |
IFRS9 [member] | Allowances for loan losses [member] | |||
Disclosure of financial assets [line items] | |||
Allowance for loan losses | 1,041,873 | 880,117 | |
IFRS9 [member] | Allowances for loan losses [member] | Consumer loans [member] | |||
Disclosure of financial assets [line items] | |||
Allowance for loan losses | 220,791 | 256,417 | |
Individually assessed for credit losses [member] | Gross assets [member] | |||
Disclosure of financial assets [line items] | |||
Beginning balance | (610,506) | (508,554) | |
- Charge-offs | 198 | 21,841 | |
- Changes due to modifications that did not result in derecognition | 3,089 | ||
New financial assets originated or purchased | (235,149) | (87,496) | |
Financial assets that have been derecognized | 191,909 | 58,435 | |
Foreign exchange and other movements | (66,523) | (48,266) | |
Ending balance | (1,088,954) | (610,506) | |
Individually assessed for credit losses [member] | IFRS9 [member] | Allowances for loan losses [member] | |||
Disclosure of financial assets [line items] | |||
Allowance for loan losses | 321,444 | 193,135 | |
Individually assessed for credit losses [member] | Stage1 [member] | 12-month expected credit losses [member] | Gross assets [member] | |||
Disclosure of financial assets [line items] | |||
Beginning balance | (20,807) | ||
- Transfer to stage 2 | 7,573 | ||
- Transfer to stage 3 | 5,410 | ||
New financial assets originated or purchased | (32,170) | ||
Financial assets that have been derecognized | 13,399 | ||
Foreign exchange and other movements | (25,096) | ||
Ending balance | (100,922) | (20,807) | |
Individually assessed for credit losses [member] | Stage 2 [member] | Lifetime expected credit losses [member] | Gross assets [member] | |||
Disclosure of financial assets [line items] | |||
Beginning balance | (321,488) | (367,611) | |
- Transfer to stage 2 | (7,573) | ||
- Transfer to stage 3 | 84,512 | 116,202 | |
- Changes due to modifications that did not result in derecognition | 1,810 | ||
New financial assets originated or purchased | (80,355) | (55,367) | |
Financial assets that have been derecognized | 73,546 | 46,681 | |
Foreign exchange and other movements | (79,267) | (35,734) | |
Ending balance | (499,537) | (321,488) | |
Individually assessed for credit losses [member] | Stage 3 [member] | Lifetime expected credit losses [member] | Gross assets [member] | |||
Disclosure of financial assets [line items] | |||
Beginning balance | (268,211) | (140,943) | |
- Transfer to stage 3 | (89,922) | (116,202) | |
- Charge-offs | 198 | 21,841 | |
- Changes due to modifications that did not result in derecognition | 1,279 | ||
New financial assets originated or purchased | (122,624) | (32,129) | |
Financial assets that have been derecognized | 104,964 | 11,754 | |
Foreign exchange and other movements | 37,840 | (12,532) | |
Ending balance | (488,495) | (268,211) | |
Collectively assessed for credit losses [member] | Gross assets [member] | |||
Disclosure of financial assets [line items] | |||
Beginning balance | (22,524,308) | (20,973,936) | |
- Charge-offs | 315,567 | 151,431 | |
- Changes due to modifications that did not result in derecognition | 262,888 | ||
New financial assets originated or purchased | (8,681,482) | (7,255,836) | |
Financial assets that have been derecognized | 8,258,678 | 5,997,019 | |
Foreign exchange and other movements | 467,658 | (489,452) | |
Ending balance | (21,529,027) | (22,524,308) | |
Collectively assessed for credit losses [member] | Gross assets [member] | Consumer loans [member] | |||
Disclosure of financial assets [line items] | |||
Beginning balance | (2,798,229) | (2,669,763) | |
- Charge-offs | 134,612 | 62,205 | |
- Changes due to modifications that did not result in derecognition | 58,130 | ||
New financial assets originated or purchased | (1,203,183) | (1,114,051) | |
Financial assets that have been derecognized | 1,237,022 | 879,233 | |
Foreign exchange and other movements | 79,219 | 44,147 | |
Ending balance | (2,492,429) | (2,798,229) | |
Collectively assessed for credit losses [member] | IFRS9 [member] | Allowances for loan losses [member] | |||
Disclosure of financial assets [line items] | |||
Allowance for loan losses | 720,429 | 686,982 | |
Collectively assessed for credit losses [member] | IFRS9 [member] | Allowances for loan losses [member] | Consumer loans [member] | |||
Disclosure of financial assets [line items] | |||
Allowance for loan losses | 220,791 | 256,417 | |
Collectively assessed for credit losses [member] | Stage1 [member] | 12-month expected credit losses [member] | Gross assets [member] | |||
Disclosure of financial assets [line items] | |||
Beginning balance | (18,691,115) | (17,697,774) | |
Changes in the allowances - Transfer to stage 1 | (627,546) | (392,454) | |
- Transfer to stage 2 | 1,791,800 | 749,463 | |
- Transfer to stage 3 | 69,979 | 113,903 | |
- Charge-offs | 15,705 | 13,979 | |
- Changes due to modifications that did not result in derecognition | 235,650 | ||
New financial assets originated or purchased | (6,798,612) | (6,487,407) | |
Financial assets that have been derecognized | 7,224,940 | 5,024,522 | |
Foreign exchange and other movements | 402,950 | (36,154) | |
Ending balance | (16,327,018) | (18,691,115) | |
Collectively assessed for credit losses [member] | Stage1 [member] | 12-month expected credit losses [member] | Gross assets [member] | Consumer loans [member] | |||
Disclosure of financial assets [line items] | |||
Beginning balance | (2,201,939) | (2,135,693) | |
Changes in the allowances - Transfer to stage 1 | (165,739) | (121,007) | |
- Transfer to stage 2 | 349,120 | 144,382 | |
- Transfer to stage 3 | 25,131 | 15,399 | |
- Charge-offs | 15,262 | 13,289 | |
- Changes due to modifications that did not result in derecognition | 51,408 | ||
New financial assets originated or purchased | (826,956) | (822,217) | |
Financial assets that have been derecognized | 948,463 | 645,261 | |
Foreign exchange and other movements | 72,725 | 58,647 | |
Ending balance | (1,732,525) | (2,201,939) | |
Collectively assessed for credit losses [member] | Stage 2 [member] | Lifetime expected credit losses [member] | Gross assets [member] | |||
Disclosure of financial assets [line items] | |||
Beginning balance | (2,864,199) | (2,532,128) | |
Changes in the allowances - Transfer to stage 1 | 601,963 | 371,983 | |
- Transfer to stage 2 | (1,876,532) | (816,577) | |
- Transfer to stage 3 | 153,174 | 192,565 | |
- Charge-offs | 38,228 | 22,862 | |
- Changes due to modifications that did not result in derecognition | 25,330 | ||
New financial assets originated or purchased | (1,474,294) | (583,765) | |
Financial assets that have been derecognized | 837,836 | 771,046 | |
Foreign exchange and other movements | 110,636 | (315,844) | |
Ending balance | (4,277,136) | (2,864,199) | |
Collectively assessed for credit losses [member] | Stage 2 [member] | Lifetime expected credit losses [member] | Gross assets [member] | Consumer loans [member] | |||
Disclosure of financial assets [line items] | |||
Beginning balance | (482,372) | (444,058) | |
Changes in the allowances - Transfer to stage 1 | 154,065 | 114,560 | |
- Transfer to stage 2 | (358,123) | (152,087) | |
- Transfer to stage 3 | 21,321 | 14,314 | |
- Charge-offs | 35,795 | 21,433 | |
- Changes due to modifications that did not result in derecognition | 7,108 | ||
New financial assets originated or purchased | (327,383) | (224,815) | |
Financial assets that have been derecognized | 258,436 | 202,029 | |
Foreign exchange and other movements | 4,454 | (13,748) | |
Ending balance | (686,699) | (482,372) | |
Collectively assessed for credit losses [member] | Stage 3 [member] | Lifetime expected credit losses [member] | Gross assets [member] | |||
Disclosure of financial assets [line items] | |||
Beginning balance | (968,994) | (744,034) | |
Changes in the allowances - Transfer to stage 1 | 25,583 | 20,471 | |
- Transfer to stage 2 | 84,732 | 67,114 | |
- Transfer to stage 3 | (223,153) | (306,468) | |
- Charge-offs | 261,634 | 114,590 | |
- Changes due to modifications that did not result in derecognition | 1,908 | ||
New financial assets originated or purchased | (408,576) | (184,664) | |
Financial assets that have been derecognized | 195,902 | 201,451 | |
Foreign exchange and other movements | (45,928) | (137,454) | |
Ending balance | (924,873) | (968,994) | |
Collectively assessed for credit losses [member] | Stage 3 [member] | Lifetime expected credit losses [member] | Gross assets [member] | Consumer loans [member] | |||
Disclosure of financial assets [line items] | |||
Beginning balance | (113,918) | (90,012) | |
Changes in the allowances - Transfer to stage 1 | 11,674 | 6,447 | |
- Transfer to stage 2 | 9,003 | 7,705 | |
- Transfer to stage 3 | (46,452) | (29,713) | |
- Charge-offs | 83,555 | 27,483 | |
- Changes due to modifications that did not result in derecognition | (386) | ||
New financial assets originated or purchased | (48,844) | (67,019) | |
Financial assets that have been derecognized | 30,123 | 31,943 | |
Foreign exchange and other movements | 2,040 | (752) | |
Ending balance | $ (73,205) | $ (113,918) |
Loans and Accounts Receivabl_11
Loans and Accounts Receivable From Customers - Movements in Credit Risk Provisions (Detail) - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
IFRS9 [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Opening balance | $ (880,117) | $ (768,120) |
- Increases due to change in credit risk | (284,141) | (269,348) |
Decreases due to change in credit risk | 112,615 | 111,255 |
- Charge-offs | 174,556 | 167,364 |
- Changes due to modifications that did not result in derecognition | 789 | 0 |
New financial assets originated or purchased | (414,765) | (282,800) |
Financial assets that have been derecognized | 244,413 | 199,319 |
Foreign exchange and other movements | 4,777 | (37,787) |
Ending balance | (1,041,873) | (880,117) |
Commercial loans [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Opening balance | (545,199) | (484,707) |
- Increases due to change in credit risk | (207,540) | (155,464) |
Decreases due to change in credit risk | 43,482 | 55,248 |
- Charge-offs | 87,082 | 82,217 |
- Changes due to modifications that did not result in derecognition | (869) | 0 |
New financial assets originated or purchased | (291,865) | (136,559) |
Financial assets that have been derecognized | 162,519 | 114,655 |
Foreign exchange and other movements | 4,773 | (20,589) |
Ending balance | (747,617) | (545,199) |
Mortgages loans [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Opening balance | (78,501) | (66,117) |
- Increases due to change in credit risk | (14,741) | (31,869) |
Decreases due to change in credit risk | 13,941 | 15,680 |
- Charge-offs | 2,709 | 2,640 |
- Changes due to modifications that did not result in derecognition | 1,344 | 0 |
New financial assets originated or purchased | 2,312 | (3,481) |
Financial assets that have been derecognized | 5,316 | 5,501 |
Foreign exchange and other movements | (5,845) | (855) |
Ending balance | (73,465) | (78,501) |
Consumer loans [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Opening balance | (256,417) | |
- Increases due to change in credit risk | (61,860) | |
Decreases due to change in credit risk | 55,192 | |
- Charge-offs | 84,765 | |
- Changes due to modifications that did not result in derecognition | 314 | |
New financial assets originated or purchased | (125,212) | |
Financial assets that have been derecognized | 76,578 | |
Foreign exchange and other movements | 5,849 | |
Ending balance | (220,791) | (256,417) |
Individually Evaluated [Member] | IFRS9 [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Opening balance | (193,135) | (133,610) |
- Increases due to change in credit risk | (52,321) | (63,901) |
Decreases due to change in credit risk | 6,849 | 8,854 |
- Charge-offs | 198 | 13,891 |
- Changes due to modifications that did not result in derecognition | 0 | 0 |
New financial assets originated or purchased | (116,657) | (19,872) |
Financial assets that have been derecognized | 66,395 | 4,976 |
Changes in models/risk parameters | (43,689) | (933) |
Foreign exchange and other movements | 10,916 | (2,540) |
Ending balance | (321,444) | (193,135) |
Individually Evaluated [Member] | Commercial loans [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Opening balance | (193,135) | (133,610) |
- Increases due to change in credit risk | (52,321) | (63,901) |
Decreases due to change in credit risk | 6,849 | 8,854 |
- Charge-offs | 198 | 13,891 |
- Changes due to modifications that did not result in derecognition | 0 | 0 |
New financial assets originated or purchased | (116,657) | (19,872) |
Financial assets that have been derecognized | 66,395 | 4,976 |
Changes in models/risk parameters | (43,689) | (933) |
Foreign exchange and other movements | 10,916 | (2,540) |
Ending balance | (321,444) | (193,135) |
Individually Evaluated [Member] | Mortgages loans [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Opening balance | (78,501) | (66,117) |
- Increases due to change in credit risk | (14,741) | (31,869) |
Decreases due to change in credit risk | 13,941 | 15,680 |
- Charge-offs | 2,709 | 2,640 |
- Changes due to modifications that did not result in derecognition | 1,344 | 0 |
New financial assets originated or purchased | 2,312 | (3,481) |
Financial assets that have been derecognized | 5,316 | 5,501 |
Foreign exchange and other movements | (5,845) | (855) |
Ending balance | (73,465) | (78,501) |
Individually Evaluated [Member] | Consumer loans [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Opening balance | (256,417) | |
- Increases due to change in credit risk | (61,860) | |
Decreases due to change in credit risk | 55,192 | |
- Charge-offs | 84,765 | |
- Changes due to modifications that did not result in derecognition | 314 | |
New financial assets originated or purchased | (125,212) | |
Financial assets that have been derecognized | 76,578 | |
Foreign exchange and other movements | 5,849 | |
Ending balance | (220,791) | (256,417) |
Individually Evaluated [Member] | Stage1 [member] | 12-month expected credit losses [member] | IFRS9 [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
- Transfers to stage 2 | 82 | |
- Transfers to stage 3 | 63 | |
- Changes due to modifications that did not result in derecognition | 0 | 0 |
New financial assets originated or purchased | (46) | |
Financial assets that have been derecognized | 500 | |
Foreign exchange and other movements | (645) | |
Ending balance | (46) | |
Individually Evaluated [Member] | Stage1 [member] | Commercial loans [member] | 12-month expected credit losses [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
- Transfers to stage 2 | 82 | |
- Transfers to stage 3 | 63 | |
- Changes due to modifications that did not result in derecognition | 0 | 0 |
New financial assets originated or purchased | (46) | |
Financial assets that have been derecognized | 500 | |
Foreign exchange and other movements | (645) | |
Ending balance | (46) | |
Individually Evaluated [Member] | Stage1 [member] | Mortgages loans [member] | 12-month expected credit losses [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Opening balance | (5,680) | (5,756) |
- Transfers to stage 1 | (8,391) | (3,316) |
- Transfers to stage 2 | 1,243 | 484 |
- Transfers to stage 3 | 29 | 244 |
- Increases due to change in credit risk | (3,313) | (530) |
Decreases due to change in credit risk | 6,499 | 4,200 |
- Changes due to modifications that did not result in derecognition | 0 | 0 |
New financial assets originated or purchased | (2,010) | (1,347) |
Financial assets that have been derecognized | 557 | 605 |
Foreign exchange and other movements | 334 | (264) |
Ending balance | (10,732) | (5,680) |
Individually Evaluated [Member] | Stage1 [member] | Consumer loans [member] | 12-month expected credit losses [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Opening balance | (66,692) | |
- Transfers to stage 1 | (30,022) | |
- Transfers to stage 2 | 11,428 | |
- Transfers to stage 3 | 1,454 | |
- Increases due to change in credit risk | (6,852) | |
Decreases due to change in credit risk | 34,718 | |
- Charge-offs | 1,318 | |
- Changes due to modifications that did not result in derecognition | 0 | |
New financial assets originated or purchased | (34,531) | |
Financial assets that have been derecognized | 19,842 | |
Foreign exchange and other movements | 2,688 | |
Ending balance | (66,649) | (66,692) |
Individually Evaluated [Member] | Stage 2 [member] | Lifetime expected credit losses [member] | IFRS9 [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Opening balance | (42,000) | (46,153) |
- Transfers to stage 2 | (82) | |
- Transfers to stage 3 | 9,055 | 22,642 |
- Increases due to change in credit risk | (8,381) | (1,216) |
Decreases due to change in credit risk | 4,761 | 7,758 |
- Changes due to modifications that did not result in derecognition | 0 | 0 |
New financial assets originated or purchased | (12,567) | (12,496) |
Financial assets that have been derecognized | 4,873 | 1,824 |
Changes in models/risk parameters | 3,009 | (933) |
Foreign exchange and other movements | (24,948) | (13,426) |
Ending balance | (66,280) | (42,000) |
Individually Evaluated [Member] | Stage 2 [member] | Commercial loans [member] | Lifetime expected credit losses [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Opening balance | (42,000) | (46,153) |
- Transfers to stage 2 | (82) | |
- Transfers to stage 3 | 9,055 | 22,642 |
- Increases due to change in credit risk | (8,381) | (1,216) |
Decreases due to change in credit risk | 4,761 | 7,758 |
- Changes due to modifications that did not result in derecognition | 0 | 0 |
New financial assets originated or purchased | (12,567) | (12,496) |
Financial assets that have been derecognized | 4,873 | 1,824 |
Changes in models/risk parameters | 3,009 | (933) |
Foreign exchange and other movements | (24,948) | (13,426) |
Ending balance | (66,280) | (42,000) |
Individually Evaluated [Member] | Stage 2 [member] | Mortgages loans [member] | Lifetime expected credit losses [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Opening balance | (49,072) | (37,800) |
- Transfers to stage 1 | 7,706 | 2,901 |
- Transfers to stage 2 | (8,157) | (5,430) |
- Transfers to stage 3 | 3,576 | 7,413 |
- Increases due to change in credit risk | (8,190) | (25,837) |
Decreases due to change in credit risk | 4,572 | 8,916 |
- Charge-offs | 9 | 16 |
- Changes due to modifications that did not result in derecognition | 0 | 0 |
New financial assets originated or purchased | (1,626) | (1,622) |
Financial assets that have been derecognized | 2,561 | 2,553 |
Foreign exchange and other movements | 107 | (182) |
Ending balance | (48,514) | (49,072) |
Individually Evaluated [Member] | Stage 2 [member] | Consumer loans [member] | Lifetime expected credit losses [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Opening balance | (113,507) | |
- Transfers to stage 1 | 22,886 | |
- Transfers to stage 2 | (17,019) | |
- Transfers to stage 3 | 8,894 | |
- Increases due to change in credit risk | (22,545) | |
Decreases due to change in credit risk | 19,742 | |
- Charge-offs | 14,393 | |
- Changes due to modifications that did not result in derecognition | 0 | |
New financial assets originated or purchased | (59,336) | |
Financial assets that have been derecognized | 38,879 | |
Foreign exchange and other movements | 2,260 | |
Ending balance | (105,353) | (113,507) |
Individually Evaluated [Member] | Stage 3 [member] | Lifetime expected credit losses [member] | IFRS9 [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Opening balance | (151,135) | (87,457) |
- Transfers to stage 3 | (9,118) | (22,642) |
- Increases due to change in credit risk | (43,940) | (62,685) |
Decreases due to change in credit risk | 2,088 | 1,096 |
- Charge-offs | 198 | 13,891 |
- Changes due to modifications that did not result in derecognition | 0 | 0 |
New financial assets originated or purchased | (104,044) | (7,376) |
Financial assets that have been derecognized | 61,022 | 3,152 |
Changes in models/risk parameters | (46,698) | |
Foreign exchange and other movements | 36,509 | 10,886 |
Ending balance | (255,118) | (151,135) |
Individually Evaluated [Member] | Stage 3 [member] | Commercial loans [member] | Lifetime expected credit losses [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Opening balance | (151,135) | (87,457) |
- Transfers to stage 3 | (9,118) | (22,642) |
- Increases due to change in credit risk | (43,940) | (62,685) |
Decreases due to change in credit risk | 2,088 | 1,096 |
- Charge-offs | 198 | 13,891 |
- Changes due to modifications that did not result in derecognition | 0 | 0 |
New financial assets originated or purchased | (104,044) | (7,376) |
Financial assets that have been derecognized | 61,022 | 3,152 |
Changes in models/risk parameters | (46,698) | |
Foreign exchange and other movements | 36,509 | 10,886 |
Ending balance | (255,118) | (151,135) |
Individually Evaluated [Member] | Stage 3 [member] | Mortgages loans [member] | Lifetime expected credit losses [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Opening balance | (23,749) | (22,561) |
- Transfers to stage 1 | 685 | 415 |
- Transfers to stage 2 | 6,914 | 4,946 |
- Transfers to stage 3 | (3,605) | (7,657) |
- Increases due to change in credit risk | (3,238) | (5,502) |
Decreases due to change in credit risk | 2,870 | 2,564 |
- Charge-offs | 2,700 | 2,624 |
- Changes due to modifications that did not result in derecognition | 1,344 | 0 |
New financial assets originated or purchased | 5,948 | (512) |
Financial assets that have been derecognized | 2,198 | 2,343 |
Foreign exchange and other movements | (6,286) | (409) |
Ending balance | (14,219) | (23,749) |
Individually Evaluated [Member] | Stage 3 [member] | Consumer loans [member] | Lifetime expected credit losses [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Opening balance | (76,218) | |
- Transfers to stage 1 | 7,136 | |
- Transfers to stage 2 | 5,591 | |
- Transfers to stage 3 | (10,348) | |
- Increases due to change in credit risk | (32,463) | |
Decreases due to change in credit risk | 732 | |
- Charge-offs | 69,054 | |
- Changes due to modifications that did not result in derecognition | 314 | |
New financial assets originated or purchased | (31,345) | |
Financial assets that have been derecognized | 17,857 | |
Foreign exchange and other movements | 901 | |
Ending balance | (48,789) | (76,218) |
Group [Member] | IFRS9 [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Opening balance | (686,982) | (634,510) |
- Increases due to change in credit risk | (231,820) | (205,447) |
Decreases due to change in credit risk | 105,766 | 102,401 |
- Charge-offs | 174,358 | 153,473 |
- Changes due to modifications that did not result in derecognition | 789 | 0 |
New financial assets originated or purchased | (298,108) | (262,928) |
Financial assets that have been derecognized | 178,018 | 194,343 |
Changes in models/risk parameters | 43,689 | 933 |
Foreign exchange and other movements | (6,139) | (35,247) |
Ending balance | (720,429) | (686,982) |
Group [Member] | Commercial loans [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Opening balance | (352,064) | (351,097) |
- Increases due to change in credit risk | (155,219) | (91,563) |
Decreases due to change in credit risk | 36,633 | 46,394 |
- Charge-offs | 86,884 | 68,326 |
- Changes due to modifications that did not result in derecognition | (869) | 0 |
New financial assets originated or purchased | (175,208) | (116,687) |
Financial assets that have been derecognized | 96,124 | 109,679 |
Changes in models/risk parameters | 43,689 | 933 |
Foreign exchange and other movements | (6,143) | (18,049) |
Ending balance | (426,173) | (352,064) |
Group [Member] | Consumer loans [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Opening balance | (256,417) | (217,296) |
- Increases due to change in credit risk | (94,012) | |
Decreases due to change in credit risk | 40,327 | |
- Charge-offs | 82,507 | |
- Changes due to modifications that did not result in derecognition | 0 | |
New financial assets originated or purchased | (142,760) | |
Financial assets that have been derecognized | 79,163 | |
Foreign exchange and other movements | (4,346) | |
Ending balance | (256,417) | |
Group [Member] | Stage1 [member] | 12-month expected credit losses [member] | IFRS9 [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Opening balance | (145,415) | (138,492) |
- Transfers to stage 1 | (49,315) | (29,418) |
- Transfers to stage 2 | 19,402 | 14,077 |
- Transfers to stage 3 | 2,280 | 5,171 |
- Increases due to change in credit risk | (28,719) | (19,691) |
Decreases due to change in credit risk | 59,996 | 51,409 |
- Charge-offs | 1,390 | 983 |
- Changes due to modifications that did not result in derecognition | 0 | 0 |
New financial assets originated or purchased | (80,071) | (73,009) |
Financial assets that have been derecognized | 50,438 | 49,158 |
Foreign exchange and other movements | 4,553 | (5,603) |
Ending balance | (165,461) | (145,415) |
Group [Member] | Stage1 [member] | Commercial loans [member] | 12-month expected credit losses [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Opening balance | (73,036) | (61,971) |
- Transfers to stage 1 | (10,902) | (9,243) |
- Transfers to stage 2 | 6,731 | 6,626 |
- Transfers to stage 3 | 797 | 1,927 |
- Increases due to change in credit risk | (18,554) | (13,071) |
Decreases due to change in credit risk | 18,779 | 18,572 |
- Charge-offs | 72 | 28 |
- Changes due to modifications that did not result in derecognition | 0 | 0 |
New financial assets originated or purchased | (43,530) | (36,672) |
Financial assets that have been derecognized | 30,039 | 23,152 |
Foreign exchange and other movements | 1,524 | (2,384) |
Ending balance | (88,080) | (73,036) |
Group [Member] | Stage1 [member] | Consumer loans [member] | 12-month expected credit losses [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Opening balance | (66,692) | (70,765) |
- Transfers to stage 1 | (16,859) | |
- Transfers to stage 2 | 6,968 | |
- Transfers to stage 3 | 3,000 | |
- Increases due to change in credit risk | (6,090) | |
Decreases due to change in credit risk | 28,637 | |
- Charge-offs | 955 | |
- Changes due to modifications that did not result in derecognition | 0 | |
New financial assets originated or purchased | (34,990) | |
Financial assets that have been derecognized | 25,401 | |
Foreign exchange and other movements | (2,949) | |
Ending balance | (66,692) | |
Group [Member] | Stage 2 [member] | Lifetime expected credit losses [member] | IFRS9 [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Opening balance | (260,297) | (232,447) |
- Transfers to stage 1 | 39,672 | 23,245 |
- Transfers to stage 2 | (36,007) | (28,023) |
- Transfers to stage 3 | 28,404 | 29,876 |
- Increases due to change in credit risk | (64,496) | (80,613) |
Decreases due to change in credit risk | 37,255 | 39,540 |
- Charge-offs | 14,707 | 7,631 |
- Changes due to modifications that did not result in derecognition | 0 | 0 |
New financial assets originated or purchased | (118,827) | (91,324) |
Financial assets that have been derecognized | 68,536 | 62,668 |
Changes in models/risk parameters | (3,009) | 933 |
Foreign exchange and other movements | 13,652 | 8,217 |
Ending balance | (280,410) | (260,297) |
Group [Member] | Stage 2 [member] | Commercial loans [member] | Lifetime expected credit losses [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Opening balance | (109,671) | (109,805) |
- Transfers to stage 1 | 9,080 | 7,555 |
- Transfers to stage 2 | (10,831) | (10,260) |
- Transfers to stage 3 | 15,934 | 11,340 |
- Increases due to change in credit risk | (33,761) | (32,280) |
Decreases due to change in credit risk | 12,941 | 19,449 |
- Charge-offs | 305 | 179 |
- Changes due to modifications that did not result in derecognition | 0 | 0 |
New financial assets originated or purchased | (57,865) | (35,008) |
Financial assets that have been derecognized | 27,096 | 28,514 |
Changes in models/risk parameters | (3,009) | 933 |
Foreign exchange and other movements | 23,238 | 9,712 |
Ending balance | (126,543) | (109,671) |
Group [Member] | Stage 2 [member] | Consumer loans [member] | Lifetime expected credit losses [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Opening balance | (113,507) | (84,842) |
- Transfers to stage 1 | 12,789 | |
- Transfers to stage 2 | (12,334) | |
- Transfers to stage 3 | 11,123 | |
- Increases due to change in credit risk | (34,493) | |
Decreases due to change in credit risk | 11,175 | |
- Charge-offs | 7,436 | |
- Changes due to modifications that did not result in derecognition | 0 | |
New financial assets originated or purchased | (54,694) | |
Financial assets that have been derecognized | 31,601 | |
Foreign exchange and other movements | (1,268) | |
Ending balance | (113,507) | |
Group [Member] | Stage 3 [member] | Lifetime expected credit losses [member] | IFRS9 [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Opening balance | (281,270) | (263,571) |
- Transfers to stage 1 | 9,643 | 6,173 |
- Transfers to stage 2 | 16,605 | 13,946 |
- Transfers to stage 3 | (30,684) | (35,047) |
- Increases due to change in credit risk | (138,605) | (105,143) |
Decreases due to change in credit risk | 8,515 | 11,452 |
- Charge-offs | 158,261 | 144,859 |
- Changes due to modifications that did not result in derecognition | 789 | 0 |
New financial assets originated or purchased | (99,210) | (98,595) |
Financial assets that have been derecognized | 59,044 | 82,517 |
Changes in models/risk parameters | 46,698 | |
Foreign exchange and other movements | (24,344) | (37,861) |
Ending balance | (274,558) | (281,270) |
Group [Member] | Stage 3 [member] | Commercial loans [member] | Lifetime expected credit losses [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Opening balance | (169,357) | (179,321) |
- Transfers to stage 1 | 1,822 | 1,688 |
- Transfers to stage 2 | 4,100 | 3,634 |
- Transfers to stage 3 | (16,731) | (13,267) |
- Increases due to change in credit risk | (102,904) | (46,212) |
Decreases due to change in credit risk | 4,913 | 8,373 |
- Charge-offs | 86,507 | 68,119 |
- Changes due to modifications that did not result in derecognition | (869) | 0 |
New financial assets originated or purchased | (73,813) | (45,007) |
Financial assets that have been derecognized | 38,989 | 58,013 |
Changes in models/risk parameters | 46,698 | |
Foreign exchange and other movements | (30,905) | (25,377) |
Ending balance | (211,550) | (169,357) |
Group [Member] | Stage 3 [member] | Consumer loans [member] | Lifetime expected credit losses [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Opening balance | $ (76,218) | (61,689) |
- Transfers to stage 1 | 4,070 | |
- Transfers to stage 2 | 5,366 | |
- Transfers to stage 3 | (14,123) | |
- Increases due to change in credit risk | (53,429) | |
Decreases due to change in credit risk | 515 | |
- Charge-offs | 74,116 | |
- Changes due to modifications that did not result in derecognition | 0 | |
New financial assets originated or purchased | (53,076) | |
Financial assets that have been derecognized | 22,161 | |
Foreign exchange and other movements | (129) | |
Ending balance | $ (76,218) |
Loans and Accounts Receivabl_12
Loans and Accounts Receivable From Customers - Schedule of Detail of Loans and Receivables Sold (Detail) - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of financial assets [line items] | ||
Credit value | $ 14,231 | |
Provision | (14,113) | |
Provision | $ 242,422 | 162,874 |
Sale value | 6,329 | |
Adjustment to EIR | (207) | |
Results to be deferred | 471,424 | 560,645 |
Results recognized in the year | 6,004 | |
Current portfolio [member] | ||
Disclosure of financial assets [line items] | ||
Credit value | 14,231 | |
Provision | (14,113) | |
Sale value | 4,130 | |
Adjustment to EIR | (207) | |
Results recognized in the year | 3,805 | |
Charge-offs [member] | ||
Disclosure of financial assets [line items] | ||
Sale value | 2,199 | |
Results recognized in the year | 2,199 | |
CAE portfolio [member] | ||
Disclosure of financial assets [line items] | ||
Credit value | 81,697 | 103,201 |
Provision | 2,123 | (849) |
Sale value | 92,767 | 120,015 |
Adjustment to EIR | 6,717 | 9,079 |
Results recognized in the year | $ 6,476 | $ 8,584 |
Loans and Accounts Receivabl_13
Loans and Accounts Receivable From Customers - Schedule of Cash Flows to be Received from Finance Lease Contracts (Detail) - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of financial assets [line items] | ||
Total finance leasing contracts | $ 1,721,454 | $ 1,905,554 |
Unearned income finance leasing contracts | 471,424 | 560,645 |
Net finance leasing contracts | 1,250,030 | 1,344,909 |
Up to one month [member] | ||
Disclosure of financial assets [line items] | ||
Total finance leasing contracts | 30,141 | 13,793 |
Unearned income finance leasing contracts | 144 | 7 |
Net finance leasing contracts | 29,997 | 13,786 |
1 - 3 months [member] | ||
Disclosure of financial assets [line items] | ||
Total finance leasing contracts | 3,400 | 4,033 |
Unearned income finance leasing contracts | 86 | 54 |
Net finance leasing contracts | 3,314 | 3,979 |
3 months to 1 year [member] | ||
Disclosure of financial assets [line items] | ||
Total finance leasing contracts | 38,446 | 39,184 |
Unearned income finance leasing contracts | 1,525 | 1,839 |
Net finance leasing contracts | 36,921 | 37,345 |
1 - 3 years [member] | ||
Disclosure of financial assets [line items] | ||
Total finance leasing contracts | 189,921 | 263,280 |
Unearned income finance leasing contracts | 11,253 | 23,286 |
Net finance leasing contracts | 178,668 | 239,994 |
3 to 6 years [member] | ||
Disclosure of financial assets [line items] | ||
Total finance leasing contracts | 338,156 | 413,066 |
Unearned income finance leasing contracts | 42,164 | 71,543 |
Net finance leasing contracts | 295,992 | 341,523 |
More than 6 years [member] | ||
Disclosure of financial assets [line items] | ||
Total finance leasing contracts | 1,121,390 | 1,172,198 |
Unearned income finance leasing contracts | 416,252 | 463,916 |
Net finance leasing contracts | $ 705,138 | $ 708,282 |
Loans and Accounts Receivabl_14
Loans and Accounts Receivable From Customers - Schedule of Cash Flows to be Received from Finance Lease Contracts Other (Detail) - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of financial assets [line items] | ||
Net finance leasing contracts | $ 1,250,030 | $ 1,344,909 |
Loans and receivables from customers, net [member] | ||
Disclosure of financial assets [line items] | ||
Net finance leasing contracts | 1,250,030 | 1,344,909 |
Loans and receivables from customers, net [member] | Commercial loans [member] | ||
Disclosure of financial assets [line items] | ||
Net finance leasing contracts | 940,989 | 1,005,209 |
Loans and receivables from customers, net [member] | Mortgages loans [member] | ||
Disclosure of financial assets [line items] | ||
Net finance leasing contracts | 307,574 | 336,587 |
Loans and receivables from customers, net [member] | Consumer loans [member] | ||
Disclosure of financial assets [line items] | ||
Net finance leasing contracts | $ 1,467 | $ 3,113 |
Investment Instruments - Detail
Investment Instruments - Detail of Investment Instruments Measured at FVOCI (Detail) - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of financial assets [line items] | ||
Financial instruments at fair value through other comprehensive income | $ 3,970,899 | $ 3,598,890 |
Financial instruments at amortized cost | 111,542 | 115,658 |
Debt And Equity Instrument [Member] | ||
Disclosure of financial assets [line items] | ||
Financial instruments at fair value through other comprehensive income | 3,970,899 | 3,598,890 |
Financial instruments at amortized cost | 111,542 | 115,658 |
Total | 4,082,441 | 3,714,548 |
Equity Instrument [Member] | ||
Disclosure of financial assets [line items] | ||
Financial instruments at fair value through other comprehensive income | 10,795 | 10,676 |
Total | 10,795 | 10,676 |
IFRS9 [member] | ||
Disclosure of financial assets [line items] | ||
Financial instruments at fair value through other comprehensive income | 3,960,104 | 3,588,214 |
Financial instruments at amortized cost | 111,542 | 115,658 |
Total | 4,071,646 | 3,703,872 |
IFRS9 [member] | Debt Instrument [Member] | ||
Disclosure of financial assets [line items] | ||
Financial instruments at fair value through other comprehensive income | 3,960,104 | 3,588,214 |
Financial instruments at amortized cost | 111,542 | 115,658 |
Total | $ 4,071,646 | $ 3,703,872 |
Investment Instruments - Deta_2
Investment Instruments - Detail of Financial Instruments Measured at FVOCI (Detail) - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of financial assets [line items] | ||
Financial instruments at fair value through other comprehensive income | $ 3,970,899 | $ 3,598,890 |
Financial instruments at amortized cost | 111,542 | 115,658 |
Time deposits in local banks [member] | Other Chilean securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial instruments at fair value through other comprehensive income | 14,856 | 412,962 |
Chilean mortgage finance bonds[member] | Other Chilean securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial instruments at fair value through other comprehensive income | 30 | 41 |
Chilean financial institution bonds [member] | Other Chilean securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial instruments at fair value through other comprehensive income | 277,163 | 118,583 |
Other foreign investments [member] | Securities issued abroad [member] | ||
Disclosure of financial assets [line items] | ||
Financial instruments at fair value through other comprehensive income | 394,691 | 716,423 |
Chilean corporate bonds [member] | Securities issued abroad [member] | ||
Disclosure of financial assets [line items] | ||
Financial instruments at fair value through other comprehensive income | 217,185 | 165,927 |
Chilean Central Bank and Government Securities [member] | Chilean Central Bank Securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial instruments at fair value through other comprehensive income | 1,170,841 | 477,900 |
Chilean Central Bank and Government Securities [member] | Chilean treasury bonds[member] | ||
Disclosure of financial assets [line items] | ||
Financial instruments at fair value through other comprehensive income | 1,783,765 | 1,609,397 |
Chilean Central Bank and Government Securities [member] | Other government securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial instruments at fair value through other comprehensive income | 101,573 | 86,981 |
IFRS9 [member] | ||
Disclosure of financial assets [line items] | ||
Financial instruments at fair value through other comprehensive income | 3,960,104 | 3,588,214 |
Financial instruments at amortized cost | 111,542 | 115,658 |
Total | 4,071,646 | 3,703,872 |
IFRS9 [member] | Time deposits in local banks [member] | Other Chilean securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial instruments at fair value through other comprehensive income | 14,856 | 412,962 |
Total | 14,856 | 412,962 |
IFRS9 [member] | Chilean mortgage finance bonds[member] | Other Chilean securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial instruments at fair value through other comprehensive income | 30 | 41 |
Total | 30 | 41 |
IFRS9 [member] | Chilean financial institution bonds [member] | Other Chilean securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial instruments at fair value through other comprehensive income | 277,163 | 118,583 |
Total | 277,163 | 118,583 |
IFRS9 [member] | Foreign government and central bank instruments [member] | Securities issued abroad [member] | ||
Disclosure of financial assets [line items] | ||
Financial instruments at fair value through other comprehensive income | 217,185 | 165,927 |
Total | 217,185 | 165,927 |
IFRS9 [member] | Other foreign investments [member] | Securities issued abroad [member] | ||
Disclosure of financial assets [line items] | ||
Financial instruments at fair value through other comprehensive income | 394,691 | 716,423 |
Financial instruments at amortized cost | 111,542 | 115,658 |
Total | 506,233 | 832,081 |
IFRS9 [member] | Chilean Central Bank and Government Securities [member] | Chilean Central Bank Securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial instruments at fair value through other comprehensive income | 1,170,841 | 477,900 |
Total | 1,170,841 | 477,900 |
IFRS9 [member] | Chilean Central Bank and Government Securities [member] | Chilean treasury bonds[member] | ||
Disclosure of financial assets [line items] | ||
Financial instruments at fair value through other comprehensive income | 1,783,765 | 1,609,397 |
Total | 1,783,765 | 1,609,397 |
IFRS9 [member] | Chilean Central Bank and Government Securities [member] | Other government securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial instruments at fair value through other comprehensive income | 101,573 | 86,981 |
Total | $ 101,573 | $ 86,981 |
Investment Instruments - Additi
Investment Instruments - Additional Information (Detail) - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of financial assets [line items] | ||
Highly liquid financial instruments | $ 1,337,754 | $ 295,551 |
Unrealized gain and (loss) total | 319,213 | |
Financial assets at fair value through other comprehensive income [member] | ||
Disclosure of financial assets [line items] | ||
Highly liquid financial instruments | 1,205,711 | $ 266,779 |
Financial Investments Available-for-Sale [member] | ||
Disclosure of financial assets [line items] | ||
Unrealized gain and (loss) total | 42,407 | |
Financial Investments Available-for-Sale [member] | Total Attributable to Equity Holders of the Bank [Member] | ||
Disclosure of financial assets [line items] | ||
Unrealized gain and (loss) total | 34,814 | |
Financial Investments Available-for-Sale [member] | Non controlling Interest [Member] | ||
Disclosure of financial assets [line items] | ||
Unrealized gain and (loss) total | $ 7,593 |
Investment instruments - Summar
Investment instruments - Summary of Portfolio of Debt Securities Classified as Investment Instruments at Fair Value through Other Comprehensive Income Includes Impairment (Detail) - IFRS9 [member] - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of detailed information about financial instruments [line items] | ||
- Increases due to change in credit risk | $ (284,141) | $ (269,348) |
- Decreases due to change in credit risk | (112,615) | (111,255) |
- Charge-offs | 174,556 | 167,364 |
New financial assets originated or purchased | (414,765) | (282,800) |
Financial assets that have been derecognized | (244,413) | (199,319) |
Foreign exchange and other movements | 4,777 | (37,787) |
Financial instruments credit-impaired [member] | Investments in equity instruments designated at fair value through other comprehensive income [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Beginning balance | (2,310) | (134) |
Changes in the allowances - Transfer to stage 1 | 0 | 0 |
Transfer to stage 2 | 0 | 0 |
Transfer to stage 3 | 0 | 0 |
- Increases due to change in credit risk | (210) | 0 |
- Decreases due to change in credit risk | 1,127 | 0 |
- Charge-offs | 0 | 0 |
Changes due to modifications that did not result in derecognition | 0 | 0 |
New financial assets originated or purchased | (40) | (2,195) |
Financial assets that have been derecognized | (522) | (19) |
Changes in models/risk parameters | 0 | 0 |
Foreign exchange and other movements | 0 | 0 |
Ending balance | (911) | (2,310) |
Financial instruments credit-impaired [member] | 12-month expected credit losses [member] | Stage1 [member] | Investments in equity instruments designated at fair value through other comprehensive income [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Beginning balance | (2,310) | (134) |
Changes in the allowances - Transfer to stage 1 | 0 | 0 |
Transfer to stage 2 | 0 | 0 |
Transfer to stage 3 | 0 | 0 |
- Increases due to change in credit risk | (210) | 0 |
- Decreases due to change in credit risk | 1,127 | 0 |
- Charge-offs | 0 | 0 |
Changes due to modifications that did not result in derecognition | 0 | 0 |
New financial assets originated or purchased | (40) | (2,195) |
Financial assets that have been derecognized | (522) | (19) |
Changes in models/risk parameters | 0 | 0 |
Foreign exchange and other movements | 0 | 0 |
Ending balance | (911) | (2,310) |
Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | Stage 2 [member] | Investments in equity instruments designated at fair value through other comprehensive income [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Beginning balance | 0 | 0 |
Changes in the allowances - Transfer to stage 1 | 0 | 0 |
Transfer to stage 2 | 0 | 0 |
Transfer to stage 3 | 0 | 0 |
- Increases due to change in credit risk | 0 | 0 |
- Decreases due to change in credit risk | 0 | 0 |
- Charge-offs | 0 | 0 |
Changes due to modifications that did not result in derecognition | 0 | 0 |
New financial assets originated or purchased | 0 | 0 |
Financial assets that have been derecognized | 0 | 0 |
Changes in models/risk parameters | 0 | 0 |
Foreign exchange and other movements | 0 | 0 |
Ending balance | 0 | 0 |
Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | Stage 3 [member] | Investments in equity instruments designated at fair value through other comprehensive income [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Beginning balance | 0 | 0 |
Changes in the allowances - Transfer to stage 1 | 0 | 0 |
Transfer to stage 2 | 0 | 0 |
Transfer to stage 3 | 0 | 0 |
- Increases due to change in credit risk | 0 | 0 |
- Decreases due to change in credit risk | 0 | 0 |
- Charge-offs | 0 | 0 |
Changes due to modifications that did not result in derecognition | 0 | 0 |
New financial assets originated or purchased | 0 | 0 |
Financial assets that have been derecognized | 0 | 0 |
Changes in models/risk parameters | 0 | 0 |
Foreign exchange and other movements | 0 | 0 |
Ending balance | $ 0 | $ 0 |
Investment instruments - Summ_2
Investment instruments - Summary of Portfolio of Investment Instruments at Amortized Cost Includes Impairment (Detail) - IFRS9 [member] - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of detailed information about financial instruments [line items] | ||
- Increases due to change in credit risk | $ (284,141) | $ (269,348) |
- Decreases due to change in credit risk | (112,615) | (111,255) |
- Charge-offs | 174,556 | 167,364 |
New financial assets originated or purchased | (414,765) | (282,800) |
Financial assets that have been derecognized | 244,413 | 199,319 |
Foreign exchange and other movements | 4,777 | (37,787) |
Financial Instruments At Amortised Cost Category [member] | Financial assets at amortised cost [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Beginning balance | (24) | (13) |
Changes in the allowances - Transfer to stage 1 | 0 | 0 |
Transfer to stage 2 | 0 | 0 |
Transfer to stage 3 | 0 | 0 |
- Increases due to change in credit risk | 0 | 0 |
- Decreases due to change in credit risk | 0 | 0 |
- Charge-offs | 0 | 0 |
Changes due to modifications that did not result in derecognition | 0 | 0 |
New financial assets originated or purchased | (86) | (24) |
Financial assets that have been derecognized | 9 | 13 |
Changes in models/risk parameters | 0 | 0 |
Foreign exchange and other movements | 0 | 0 |
Ending balance | (101) | (24) |
Financial Instruments At Amortised Cost Category [member] | 12-month expected credit losses [member] | Stage1 [member] | Financial assets at amortised cost [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Beginning balance | (24) | (13) |
Changes in the allowances - Transfer to stage 1 | 0 | 0 |
Transfer to stage 2 | 0 | 0 |
Transfer to stage 3 | 0 | 0 |
- Increases due to change in credit risk | 0 | 0 |
- Decreases due to change in credit risk | 0 | 0 |
- Charge-offs | 0 | 0 |
Changes due to modifications that did not result in derecognition | 0 | 0 |
New financial assets originated or purchased | (86) | (24) |
Financial assets that have been derecognized | 9 | 13 |
Changes in models/risk parameters | 0 | 0 |
Foreign exchange and other movements | 0 | 0 |
Ending balance | (101) | (24) |
Financial Instruments At Amortised Cost Category [member] | Lifetime expected credit losses [member] | Stage 2 [member] | Financial assets at amortised cost [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Beginning balance | 0 | 0 |
Changes in the allowances - Transfer to stage 1 | 0 | 0 |
Transfer to stage 2 | 0 | 0 |
Transfer to stage 3 | 0 | 0 |
- Increases due to change in credit risk | 0 | 0 |
- Decreases due to change in credit risk | 0 | 0 |
- Charge-offs | 0 | 0 |
Changes due to modifications that did not result in derecognition | 0 | 0 |
New financial assets originated or purchased | 0 | 0 |
Financial assets that have been derecognized | 0 | 0 |
Changes in models/risk parameters | 0 | 0 |
Foreign exchange and other movements | 0 | 0 |
Ending balance | 0 | 0 |
Financial Instruments At Amortised Cost Category [member] | Lifetime expected credit losses [member] | Stage 3 [member] | Financial assets at amortised cost [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Beginning balance | 0 | 0 |
Changes in the allowances - Transfer to stage 1 | 0 | 0 |
Transfer to stage 2 | 0 | 0 |
Transfer to stage 3 | 0 | 0 |
- Increases due to change in credit risk | 0 | 0 |
- Decreases due to change in credit risk | 0 | 0 |
- Charge-offs | 0 | 0 |
Changes due to modifications that did not result in derecognition | 0 | 0 |
New financial assets originated or purchased | 0 | 0 |
Financial assets that have been derecognized | 0 | 0 |
Changes in models/risk parameters | 0 | 0 |
Foreign exchange and other movements | 0 | 0 |
Ending balance | $ 0 | $ 0 |
Investment Instruments - Schedu
Investment Instruments - Schedule of Unrealized Gains and Losses on the FVTOCI Portfolio (Detail) - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of financial assets [line items] | ||
Acquisition cost | $ 3,928,492 | $ 3,552,857 |
Unrealized Gains | 49,716 | 51,804 |
Unrealized Losses | (7,309) | (5,771) |
Fair Value | 3,970,899 | 3,598,890 |
Time deposits in local banks [member] | Other Chilean securities [member] | ||
Disclosure of financial assets [line items] | ||
Acquisition cost | 14,622 | 412,936 |
Unrealized Gains | 252 | 85 |
Unrealized Losses | (18) | (59) |
Fair Value | 14,856 | 412,962 |
Chilean mortgage finance bonds[member] | Other Chilean securities [member] | ||
Disclosure of financial assets [line items] | ||
Acquisition cost | 29 | 40 |
Unrealized Gains | 1 | 1 |
Fair Value | 30 | 41 |
Chilean financial institution bonds [member] | Other Chilean securities [member] | ||
Disclosure of financial assets [line items] | ||
Acquisition cost | 273,028 | 117,641 |
Unrealized Gains | 4,135 | 1,008 |
Unrealized Losses | (66) | |
Fair Value | 277,163 | 118,583 |
Other foreign investments [member] | Securities issued abroad [member] | ||
Disclosure of financial assets [line items] | ||
Acquisition cost | 391,058 | 697,663 |
Unrealized Gains | 3,724 | 18,965 |
Unrealized Losses | (91) | (205) |
Fair Value | 394,691 | 716,423 |
Chilean corporate bonds [member] | Securities issued abroad [member] | ||
Disclosure of financial assets [line items] | ||
Acquisition cost | 193,389 | 160,481 |
Unrealized Gains | 23,848 | 5,520 |
Unrealized Losses | (52) | (74) |
Fair Value | 217,185 | 165,927 |
Unlisted securities [member] | Equity instruments [member] | ||
Disclosure of financial assets [line items] | ||
Acquisition cost | 6,466 | 6,965 |
Unrealized Gains | 4,329 | 3,711 |
Fair Value | 10,795 | 10,676 |
Chilean Central Bank and Government Securities [member] | Chilean Central Bank Securities [member] | ||
Disclosure of financial assets [line items] | ||
Acquisition cost | 1,171,350 | 477,127 |
Unrealized Gains | 29 | 2,023 |
Unrealized Losses | (538) | (1,250) |
Fair Value | 1,170,841 | 477,900 |
Chilean Central Bank and Government Securities [member] | Chilean treasury bonds[member] | ||
Disclosure of financial assets [line items] | ||
Acquisition cost | 1,781,626 | 1,593,550 |
Unrealized Gains | 8,989 | 19,865 |
Unrealized Losses | (6,850) | (4,018) |
Fair Value | 1,783,765 | 1,609,397 |
Chilean Central Bank and Government Securities [member] | Other government securities [member] | ||
Disclosure of financial assets [line items] | ||
Acquisition cost | 96,924 | 86,454 |
Unrealized Gains | 4,409 | 626 |
Unrealized Losses | 240 | (99) |
Fair Value | 101,573 | 86,981 |
IFRS9 [member] | ||
Disclosure of financial assets [line items] | ||
Fair Value | 3,960,104 | 3,588,214 |
IFRS9 [member] | Time deposits in local banks [member] | Other Chilean securities [member] | ||
Disclosure of financial assets [line items] | ||
Fair Value | 14,856 | 412,962 |
IFRS9 [member] | Chilean mortgage finance bonds[member] | Other Chilean securities [member] | ||
Disclosure of financial assets [line items] | ||
Fair Value | 30 | 41 |
IFRS9 [member] | Chilean financial institution bonds [member] | Other Chilean securities [member] | ||
Disclosure of financial assets [line items] | ||
Fair Value | 277,163 | 118,583 |
IFRS9 [member] | Foreign government and central bank instruments [member] | Securities issued abroad [member] | ||
Disclosure of financial assets [line items] | ||
Fair Value | 217,185 | 165,927 |
IFRS9 [member] | Other foreign investments [member] | Securities issued abroad [member] | ||
Disclosure of financial assets [line items] | ||
Fair Value | 394,691 | 716,423 |
IFRS9 [member] | Chilean Central Bank and Government Securities [member] | Chilean Central Bank Securities [member] | ||
Disclosure of financial assets [line items] | ||
Fair Value | 1,170,841 | 477,900 |
IFRS9 [member] | Chilean Central Bank and Government Securities [member] | Chilean treasury bonds[member] | ||
Disclosure of financial assets [line items] | ||
Fair Value | 1,783,765 | 1,609,397 |
IFRS9 [member] | Chilean Central Bank and Government Securities [member] | Other government securities [member] | ||
Disclosure of financial assets [line items] | ||
Fair Value | $ 101,573 | $ 86,981 |
Investment Instruments - Sche_2
Investment Instruments - Schedule of Portfolio of Equity Instruments at Fair Value through Comprehensive Income (Detail) - CLP ($) $ in Millions | 1 Months Ended | ||
Aug. 31, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | |||
Portfolio of equity instruments at FVTOCI | $ 10,795 | $ 10,676 | |
Cámara de Riesgo Central de Contraparte S.A. (**) | |||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | |||
Percentage of equity interest sold | 2.43% | ||
Cumulative gain (loss) on disposal of investments in equity instruments designated at fair value through other comprehensive income | $ 449 | ||
Investment in domestic entities [member] | |||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | |||
Portfolio of equity instruments at FVTOCI | 4,616 | 4,990 | |
Investment in foreign entities [member] | A.C.H Colombia | |||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | |||
Portfolio of equity instruments at FVTOCI | 1,173 | 989 | |
Investment in foreign entities [member] | Redeban Multicolor S.A. | |||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | |||
Portfolio of equity instruments at FVTOCI | 717 | 634 | |
Investment in foreign entities [member] | Cámara de Compensación Divisas de Col. S.A. | |||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | |||
Portfolio of equity instruments at FVTOCI | 309 | 270 | |
Investment in foreign entities [member] | Cámara de Riesgo Central de Contraparte S.A. (**) | |||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | |||
Portfolio of equity instruments at FVTOCI | 160 | ||
Investment in foreign entities [member] | Bolsa de Valores de Colombia | |||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | |||
Portfolio of equity instruments at FVTOCI | 969 | 781 | |
Investment in foreign entities [member] | Credibanco | |||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | |||
Portfolio of equity instruments at FVTOCI | 2,990 | 2,831 | |
Investment in foreign entities [member] | Others | |||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | |||
Portfolio of equity instruments at FVTOCI | $ 21 | $ 21 |
Investment Instruments - Sche_3
Investment Instruments - Schedule of Amount Recognized in Profit and Loss and Other Comprehensive Income (Detail) - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of financial assets [abstract] | ||
Related to investments derecognised during the period | $ 56,838 | $ 35,489 |
Related to investmentsheld at the end of the reporting period | 979 | 904 |
Totals | $ 57,817 | $ 36,393 |
Investment in Associates - Summ
Investment in Associates - Summary of Investments in Associates and Financial Information (Details) - CLP ($) $ in Millions | 1 Months Ended | 12 Months Ended | ||
Jan. 31, 2022 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of associates [line items] | ||||
Entity's share | 23.63% | |||
Investment amount | $ 7,149 | $ 9,605 | ||
Income | (2,794) | 532 | ||
Assets | 35,486,448 | 33,610,056 | ||
LIABILITIES | 33,103,113 | 30,283,718 | ||
Equity | 1,862,826 | 1,862,826 | $ 1,862,826 | |
Income | (826,155) | 124,522 | $ 166,854 | |
Associates | ||||
Disclosure of associates [line items] | ||||
Assets | 1,025,347 | 1,248,595 | ||
LIABILITIES | 949,385 | 1,148,253 | ||
Equity | 101,683 | 73,362 | ||
Income | $ (25,721) | $ 26,980 | ||
Nexus S.A [member] | ||||
Disclosure of associates [line items] | ||||
Entity's share | 14.8148% | 14.8148% | 12.90% | |
Investment amount | $ 1,278 | $ 2,281 | ||
Income | (1,341) | (133) | ||
Assets | 19,210 | 31,147 | ||
LIABILITIES | 10,585 | 13,472 | ||
Equity | 17,676 | 4,097 | ||
Income | $ (9,051) | $ 13,578 | ||
Percentage of voting equity interests acquired | 1.9148% | |||
Equity Interests Acquired, Number Of Instruments | 79,577 | |||
Transbank S.A | ||||
Disclosure of associates [line items] | ||||
Entity's share | 8.7188% | 8.7188% | ||
Investment amount | $ 5,871 | $ 7,324 | ||
Income | (1,453) | 665 | ||
Assets | 1,006,137 | 1,217,448 | ||
LIABILITIES | 938,800 | 1,134,781 | ||
Equity | 84,007 | 69,265 | ||
Income | $ (16,670) | $ 13,402 |
Investment in Associates - Sche
Investment in Associates - Schedule of Dividends Received from Associates and Movements in Investments in Associates (Details) - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Investments in Associates. | ||
Dividends received | $ 268 | |
Movements In Investments In Associate [Roll Forward] | ||
Balances as of January 1, | $ 9,605 | |
Investment acquisition | 338 | |
Initial application of equity method | 9,073 | |
Participation in income | (2,794) | 532 |
Totals | $ 7,149 | $ 9,605 |
Intangible Assets - Schedule of
Intangible Assets - Schedule of Intangibles Assets (Detail) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of detailed information about intangible assets [line items] | |||
Net balance | $ 718,683 | $ 1,574,433 | $ 1,570,964 |
Gross assets [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Net balance | 920,165 | 1,896,374 | |
Accumulated depreciation, amortisation and impairment [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Net balance | $ (201,482) | $ (321,941) | |
Computer software [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Useful life years | 5 years | 6 years | |
Remaining amortization years | 4 years | 3 years | |
Net balance | $ 126,663 | $ 179,743 | 151,840 |
Computer software [member] | Gross assets [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Net balance | 221,070 | 314,200 | |
Computer software [member] | Accumulated depreciation, amortisation and impairment [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Net balance | $ (94,407) | $ (134,457) | |
IT projects and licenses [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Useful life years | 2 years | 6 years | |
Remaining amortization years | 2 years | 2 years | |
Net balance | $ 12,830 | $ 5,192 | 12,614 |
IT projects and licenses [member] | Gross assets [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Net balance | 13,484 | 33,352 | |
IT projects and licenses [member] | Accumulated depreciation, amortisation and impairment [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Net balance | (654) | (28,160) | |
Assets generated in business combination [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Net balance | 578,503 | 1,388,302 | 1,406,016 |
Assets generated in business combination [member] | Gross assets [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Net balance | 681,556 | 1,544,767 | |
Assets generated in business combination [member] | Accumulated depreciation, amortisation and impairment [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Net balance | (103,053) | (156,465) | |
Goodwill [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Net balance | 492,512 | 1,151,019 | 1,135,392 |
Goodwill [member] | Gross assets [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Net balance | $ 492,512 | $ 1,151,019 | |
Trademark [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Useful life years | 10 years | 10 years | |
Remaining amortization years | 5 years | 8 years | |
Net balance | $ 26,794 | $ 31,898 | 37,002 |
Trademark [member] | Gross assets [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Net balance | 51,037 | 51,459 | |
Trademark [member] | Accumulated depreciation, amortisation and impairment [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Net balance | $ (24,243) | $ (19,561) | |
Customer relationship [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Useful life years | 10 years | 12 years | |
Remaining amortization years | 5 years | 10 years | |
Net balance | $ 13,845 | $ 63,317 | 69,259 |
Customer relationship [member] | Gross assets [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Net balance | 26,371 | 98,268 | |
Customer relationship [member] | Accumulated depreciation, amortisation and impairment [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Net balance | $ (12,526) | $ (34,951) | |
Core deposit [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Useful life years | 8 years | 9 years | |
Remaining amortization years | 3 years | 7 years | |
Net balance | $ 45,352 | $ 142,068 | 164,363 |
Core deposit [member] | Gross assets [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Net balance | 111,636 | 244,021 | |
Core deposit [member] | Accumulated depreciation, amortisation and impairment [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Net balance | $ (66,284) | $ (101,953) | |
Other intangible assets [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Useful life years | 10 years | 10 years | |
Remaining amortization years | 4 years | 1 year | |
Net balance | $ 687 | $ 1,196 | $ 494 |
Other intangible assets [member] | Gross assets [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Net balance | 4,055 | 4,055 | |
Other intangible assets [member] | Accumulated depreciation, amortisation and impairment [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Net balance | $ (3,368) | $ (2,859) |
Intangible Assets - Schedule _2
Intangible Assets - Schedule of Movement of Intangible Assets (Detail) $ in Millions, in Millions | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2020CLP ($) | Dec. 31, 2020CLF ( ) | Dec. 31, 2020CLP ($) | Dec. 31, 2019CLP ($) | |
Disclosure of detailed information about intangible assets [line items] | ||||
Beginning, balances | $ 1,574,433 | $ 1,574,433 | ||
Impairment | (765,736) | |||
Ending, balances | 718,683 | $ 1,574,433 | ||
Impairments | 651,825 | |||
ITAÚ CORPBANCA COLOMBIA | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Impairment | (113,138) | |||
Itaú Corredor de Seguros Colombia S.A [Member] | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Impairment | (773) | |||
Chile [member] | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Beginning, balances | 1,154,457 | 1,154,457 | ||
Impairment | (412,356) | |||
Ending, balances | 682,695 | 1,154,457 | ||
Impairments | 412,356 | 412,356 | ||
Colombia [member] | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Beginning, balances | 419,976 | 419,976 | ||
Impairment | (113,911) | (113,911) | (353,380) | |
Ending, balances | 35,988 | 419,976 | ||
Impairments | 239,469 | 239,469 | ||
IT projects and licenses [member] | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Impairment | (38,849) | |||
Assets generated in business combination [member] | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Impairment | (113,911) | |||
Ending, balances | 651,825 | |||
Assets generated in business combination [member] | Colombia [member] | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Impairment | (113,911) | |||
Gross assets [member] | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Beginning, balances | 1,896,374 | 1,896,374 | 1,828,024 | |
Acquisitions | 55,749 | 53,220 | ||
Disposals | (56,134) | |||
Impairment | (947,118) | |||
Exchange differences | 28,706 | 33,831 | ||
Others | (18,701) | |||
Ending, balances | 920,165 | 1,896,374 | ||
Gross assets [member] | ITAÚ CORPBANCA COLOMBIA | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Ending, balances | 193,761 | |||
Gross assets [member] | Itaú Corredor de Seguros Colombia S.A [Member] | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Ending, balances | 1,835 | |||
Gross assets [member] | Colombia [member] | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Ending, balances | 195,596 | |||
Gross assets [member] | Computer software [member] | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Beginning, balances | 314,200 | 314,200 | 263,179 | |
Acquisitions | 43,747 | 53,140 | ||
Disposals | (47,746) | |||
Impairment | (67,363) | |||
Reclassifications | (9,752) | |||
Exchange differences | 12,016 | 5,308 | ||
Others | (7,427) | |||
Ending, balances | 221,070 | 314,200 | ||
Gross assets [member] | Computer software [member] | Chile [member] | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Impairment | (31,426) | |||
Ending, balances | 59,525 | |||
Gross assets [member] | IT projects and licenses [member] | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Beginning, balances | 33,352 | 33,352 | 42,601 | |
Acquisitions | 12,002 | 80 | ||
Disposals | (8,388) | |||
Impairment | (32,334) | |||
Reclassifications | 9,752 | |||
Exchange differences | 900 | 20 | ||
Others | (9,349) | |||
Ending, balances | 13,484 | 33,352 | ||
Gross assets [member] | IT projects and licenses [member] | Colombia [member] | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Impairment | (4,325) | |||
Ending, balances | 7,838 | |||
Gross assets [member] | Assets generated in business combination [member] | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Beginning, balances | 393,748 | 393,748 | 383,207 | |
Impairment | (195,596) | |||
Exchange differences | 9,108 | 12,876 | ||
Others | (2,335) | |||
Ending, balances | 189,044 | 393,748 | ||
Gross assets [member] | Assets generated in business combination [member] | Colombia [member] | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Impairment | (113,911) | |||
Gross assets [member] | Goodwills [member] | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Beginning, balances | 1,151,019 | 1,151,019 | 1,135,392 | |
Impairment | (651,825) | |||
Exchange differences | 6,682 | 15,627 | ||
Ending, balances | 492,512 | 1,151,019 | ||
Gross assets [member] | Other intangible assets [member] | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Beginning, balances | 4,055 | 4,055 | 3,645 | |
Others | 410 | |||
Ending, balances | 4,055 | 4,055 | ||
Gross assets [member] | System Integrated Projects [Member] | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Impairment | (3,098) | |||
Ending, balances | 32,334 | |||
Accumulated depreciation, amortisation and impairment [member] | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Beginning, balances | (321,941) | (321,941) | (257,060) | |
Disposals | 44,490 | 3 | ||
Exchange differences | 142,533 | (7,657) | ||
Others | 8,061 | 16,913 | ||
Ending, balances | (201,482) | (321,941) | ||
Accumulated depreciation, amortisation and impairment [member] | ITAÚ CORPBANCA COLOMBIA | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Ending, balances | (80,623) | |||
Accumulated depreciation, amortisation and impairment [member] | Itaú Corredor de Seguros Colombia S.A [Member] | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Ending, balances | (1,062) | |||
Accumulated depreciation, amortisation and impairment [member] | Colombia [member] | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Ending, balances | (81,685) | |||
Accumulated depreciation, amortisation and impairment [member] | Computer software [member] | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Beginning, balances | (134,457) | (134,457) | (111,339) | |
Disposals | 44,490 | 3 | ||
Exchange differences | 31,612 | (2,995) | ||
Others | 4,580 | 10,237 | ||
Ending, balances | (94,407) | (134,457) | ||
Accumulated depreciation, amortisation and impairment [member] | Computer software [member] | Chile [member] | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Ending, balances | (28,099) | |||
Accumulated depreciation, amortisation and impairment [member] | IT projects and licenses [member] | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Beginning, balances | (28,160) | (28,160) | (29,987) | |
Exchange differences | 29,236 | (14) | ||
Others | 18 | 4,650 | ||
Ending, balances | (654) | (28,160) | ||
Accumulated depreciation, amortisation and impairment [member] | IT projects and licenses [member] | Colombia [member] | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Ending, balances | (3,513) | |||
Accumulated depreciation, amortisation and impairment [member] | Assets generated in business combination [member] | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Beginning, balances | $ (156,465) | (156,465) | (112,583) | |
Exchange differences | 81,685 | (4,648) | ||
Others | 3,463 | 1,582 | ||
Ending, balances | (103,053) | $ (156,465) | ||
Accumulated depreciation, amortisation and impairment [member] | System Integrated Projects [Member] | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Ending, balances | $ (29,236) |
Intangible Assets - Schedule _3
Intangible Assets - Schedule of Movements of Accumulated Amortization of Intangible Assets (Detail) $ in Millions, in Millions | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2020CLP ($) | Dec. 31, 2020CLF ( ) | Dec. 31, 2020CLP ($) | Dec. 31, 2019CLP ($) | |
Disclosure of detailed information about intangible assets [line items] | ||||
Beginning, balances | $ 1,574,433 | $ 1,574,433 | ||
Ending, balances | 718,683 | $ 1,574,433 | ||
Impairment loss recognised in profit or loss, intangible assets other than goodwill | 765,736 | |||
Chile [member] | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Beginning, balances | 1,154,457 | 1,154,457 | ||
Ending, balances | 682,695 | 1,154,457 | ||
Impairment loss recognised in profit or loss, intangible assets other than goodwill | 412,356 | |||
Colombia [member] | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Beginning, balances | 419,976 | 419,976 | ||
Ending, balances | 35,988 | 419,976 | ||
Impairment loss recognised in profit or loss, intangible assets other than goodwill | 113,911 | 113,911 | 353,380 | |
ITAÚ CORPBANCA COLOMBIA | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Impairment loss recognised in profit or loss, intangible assets other than goodwill | 113,138 | |||
Itaú Corredor de Seguros Colombia S.A [Member] | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Impairment loss recognised in profit or loss, intangible assets other than goodwill | 773 | |||
IT projects and licenses [member] | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Impairment loss recognised in profit or loss, intangible assets other than goodwill | 38,849 | |||
Assets generated in business combination [member] | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Ending, balances | 651,825 | |||
Impairment loss recognised in profit or loss, intangible assets other than goodwill | 113,911 | |||
Assets generated in business combination [member] | Colombia [member] | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Impairment loss recognised in profit or loss, intangible assets other than goodwill | 113,911 | |||
Accumulated depreciation, amortisation and impairment [member] | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Beginning, balances | (321,941) | (321,941) | (257,060) | |
Amortization for the year | 74,625 | 74,140 | ||
Disposals | 44,490 | 3 | ||
Exchange differences | 142,533 | (7,657) | ||
Others | 8,061 | 16,913 | ||
Ending, balances | (201,482) | (321,941) | ||
Accumulated depreciation, amortisation and impairment [member] | Colombia [member] | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Ending, balances | (81,685) | |||
Accumulated depreciation, amortisation and impairment [member] | ITAÚ CORPBANCA COLOMBIA | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Ending, balances | (80,623) | |||
Accumulated depreciation, amortisation and impairment [member] | Itaú Corredor de Seguros Colombia S.A [Member] | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Ending, balances | (1,062) | |||
Accumulated depreciation, amortisation and impairment [member] | Computer software [member] | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Beginning, balances | (134,457) | (134,457) | (111,339) | |
Amortization for the year | 40,632 | 30,363 | ||
Disposals | 44,490 | 3 | ||
Exchange differences | 31,612 | (2,995) | ||
Others | 4,580 | 10,237 | ||
Ending, balances | (94,407) | (134,457) | ||
Accumulated depreciation, amortisation and impairment [member] | Computer software [member] | Chile [member] | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Ending, balances | (28,099) | |||
Accumulated depreciation, amortisation and impairment [member] | IT projects and licenses [member] | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Beginning, balances | (28,160) | (28,160) | (29,987) | |
Amortization for the year | 1,748 | 2,809 | ||
Exchange differences | 29,236 | (14) | ||
Others | 18 | 4,650 | ||
Ending, balances | (654) | (28,160) | ||
Accumulated depreciation, amortisation and impairment [member] | IT projects and licenses [member] | Colombia [member] | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Ending, balances | (3,513) | |||
Accumulated depreciation, amortisation and impairment [member] | Assets generated in business combination [member] | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Beginning, balances | (156,465) | (156,465) | (112,583) | |
Amortization for the year | 31,736 | 40,816 | ||
Exchange differences | 81,685 | (4,648) | ||
Others | 3,463 | 1,582 | ||
Ending, balances | (103,053) | (156,465) | ||
Accumulated depreciation, amortisation and impairment [member] | Other projects [member] | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Beginning, balances | (2,859) | (2,859) | (3,151) | |
Amortization for the year | 509 | 152 | ||
Others | 444 | |||
Ending, balances | (3,368) | (2,859) | ||
Accumulated depreciation, amortisation and impairment [member] | System Integrated Projects [Member] | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Ending, balances | (29,236) | |||
Gross assets [member] | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Beginning, balances | 1,896,374 | 1,896,374 | 1,828,024 | |
Disposals | (56,134) | |||
Exchange differences | 28,706 | 33,831 | ||
Others | (18,701) | |||
Ending, balances | 920,165 | 1,896,374 | ||
Impairment loss recognised in profit or loss, intangible assets other than goodwill | 947,118 | |||
Gross assets [member] | Colombia [member] | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Ending, balances | 195,596 | |||
Gross assets [member] | ITAÚ CORPBANCA COLOMBIA | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Ending, balances | 193,761 | |||
Gross assets [member] | Itaú Corredor de Seguros Colombia S.A [Member] | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Ending, balances | 1,835 | |||
Gross assets [member] | Computer software [member] | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Beginning, balances | 314,200 | 314,200 | 263,179 | |
Disposals | (47,746) | |||
Exchange differences | 12,016 | 5,308 | ||
Others | (7,427) | |||
Ending, balances | 221,070 | 314,200 | ||
Impairment loss recognised in profit or loss, intangible assets other than goodwill | 67,363 | |||
Gross assets [member] | Computer software [member] | Chile [member] | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Ending, balances | 59,525 | |||
Impairment loss recognised in profit or loss, intangible assets other than goodwill | 31,426 | |||
Gross assets [member] | IT projects and licenses [member] | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Beginning, balances | 33,352 | 33,352 | 42,601 | |
Disposals | (8,388) | |||
Exchange differences | 900 | 20 | ||
Others | (9,349) | |||
Ending, balances | 13,484 | 33,352 | ||
Impairment loss recognised in profit or loss, intangible assets other than goodwill | 32,334 | |||
Gross assets [member] | IT projects and licenses [member] | Colombia [member] | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Ending, balances | 7,838 | |||
Impairment loss recognised in profit or loss, intangible assets other than goodwill | 4,325 | |||
Gross assets [member] | Assets generated in business combination [member] | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Beginning, balances | $ 393,748 | 393,748 | 383,207 | |
Exchange differences | 9,108 | 12,876 | ||
Others | (2,335) | |||
Ending, balances | 189,044 | $ 393,748 | ||
Impairment loss recognised in profit or loss, intangible assets other than goodwill | 195,596 | |||
Gross assets [member] | Assets generated in business combination [member] | Colombia [member] | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Impairment loss recognised in profit or loss, intangible assets other than goodwill | 113,911 | |||
Gross assets [member] | System Integrated Projects [Member] | ||||
Disclosure of detailed information about intangible assets [line items] | ||||
Ending, balances | 32,334 | |||
Impairment loss recognised in profit or loss, intangible assets other than goodwill | $ 3,098 |
Property, Plant and Equipment -
Property, Plant and Equipment - Schedule of Property, Plant and Equipment (Detail) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of detailed information about property, plant and equipment [line items] | |||
Net Balance | $ 80,615 | $ 95,080 | $ 95,564 |
Goodwill impairment | 651,825 | ||
Impairment loss recognised in profit or loss, intangible assets other than goodwill | 765,736 | ||
Gross assets [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Net Balance | 197,886 | 218,461 | 196,474 |
Impairment loss recognised in profit or loss, intangible assets other than goodwill | 947,118 | ||
Accumulated Depreciation [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Net Balance | $ (117,271) | $ (123,381) | (100,910) |
Land Buildings And Equipment [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Useful life years | 19 years | 19 years | |
Remaining depreciation years | 14 years | 14 years | |
Net Balance | $ 40,160 | $ 50,222 | 43,065 |
Land Buildings And Equipment [member] | Gross assets [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Net Balance | 76,818 | 89,290 | 65,843 |
Land Buildings And Equipment [member] | Accumulated Depreciation [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Net Balance | $ (36,658) | $ (39,068) | (22,778) |
Equipment [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Useful life years | 3 years | 3 years | |
Remaining depreciation years | 1 year | 1 year | |
Net Balance | $ 27,650 | $ 27,551 | 32,607 |
Equipment [member] | Gross assets [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Net Balance | 85,404 | 81,423 | 80,383 |
Equipment [member] | Accumulated Depreciation [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Net Balance | $ (57,754) | $ (53,872) | (47,776) |
Other [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Useful life years | 3 years | 3 years | |
Remaining depreciation years | 2 years | 2 years | |
Net Balance | $ 12,805 | $ 17,307 | 19,892 |
Other [member] | Gross assets [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Net Balance | 35,664 | 47,748 | 50,248 |
Other [member] | Accumulated Depreciation [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Net Balance | (22,859) | (30,441) | (30,356) |
Furniture [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Net Balance | 6,986 | 8,879 | 9,373 |
Furniture [Member] | Gross assets [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Net Balance | 21,203 | 27,088 | |
Furniture [Member] | Accumulated Depreciation [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Net Balance | (14,217) | (18,209) | |
Leasehold improvements [member] | Gross assets [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Net Balance | 20,363 | ||
Leasehold improvements [member] | Accumulated Depreciation [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Net Balance | (10,960) | ||
Others [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Net Balance | 5,819 | 8,428 | $ 10,519 |
Others [member] | Gross assets [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Net Balance | 14,461 | 20,660 | |
Others [member] | Accumulated Depreciation [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Net Balance | $ (8,642) | $ (12,232) |
Property, Plant and Equipment_2
Property, Plant and Equipment - Schedule of Movement of Property, Plant and Equipment (Detail) - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening balances | $ 95,080 | $ 95,564 |
Ending, balances | 80,615 | 95,080 |
Land Buildings And Equipment [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening balances | 50,222 | 43,065 |
Ending, balances | 40,160 | 50,222 |
Equipment [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening balances | 27,551 | 32,607 |
Ending, balances | 27,650 | 27,551 |
Other [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening balances | 17,307 | 19,892 |
Ending, balances | 12,805 | 17,307 |
ATM Equipment [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Impairment | 24 | |
Fixed assets [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Impairment | 867 | |
Leasehold improvements [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Impairment | 9,403 | |
Chile [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening balances | 73,169 | |
Ending, balances | 56,756 | 73,169 |
Gross assets [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening balances | 218,461 | 196,474 |
Acquisitions | 16,970 | 20,440 |
Sales and/or disposals for the year | (4,210) | (12,099) |
Exchange differences | (6,658) | 3,990 |
Impairment | (31,421) | |
Reclassification from assets held for sale | 5,622 | 9,863 |
Others | (878) | (207) |
Ending, balances | 197,886 | 218,461 |
Gross assets [member] | Land Buildings And Equipment [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening balances | 89,290 | 65,843 |
Acquisitions | 5,203 | 9,449 |
Sales and/or disposals for the year | (381) | (3,592) |
Exchange differences | (1,935) | 507 |
Impairment | (20,981) | |
Reclassification from assets held for sale | 5,622 | 9,863 |
Others | 7,220 | |
Ending, balances | 76,818 | 89,290 |
Gross assets [member] | Equipment [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening balances | 81,423 | 80,383 |
Acquisitions | 9,964 | 8,503 |
Sales and/or disposals for the year | (1,855) | (4,493) |
Exchange differences | (3,550) | 2,514 |
Impairment | (578) | |
Others | (5,484) | |
Ending, balances | 85,404 | 81,423 |
Gross assets [member] | Other [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening balances | 47,748 | 50,248 |
Acquisitions | 1,803 | 2,488 |
Sales and/or disposals for the year | (1,974) | (4,014) |
Exchange differences | (1,173) | 969 |
Impairment | (9,862) | |
Others | (878) | (1,943) |
Ending, balances | 35,664 | 47,748 |
Gross assets [member] | ATM Equipment [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Ending, balances | 53 | |
Gross assets [member] | Fixed assets [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Ending, balances | 11,005 | |
Gross assets [member] | Leasehold improvements [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Ending, balances | 20,363 | |
Accumulated Depreciation [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening balances | (123,381) | (100,910) |
Sales and/or disposals for the year | 4,035 | 8,585 |
Exchange differences | 4,408 | (2,894) |
Impairment | 21,127 | (728) |
Reclassification from assets held for sale | 1,634 | (6,829) |
Others | 564 | |
Ending, balances | (117,271) | (123,381) |
Accumulated Depreciation [Member] | Land Buildings And Equipment [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening balances | (39,068) | (22,778) |
Sales and/or disposals for the year | 287 | 2,884 |
Exchange differences | 825 | (79) |
Impairment | 11,211 | (241) |
Reclassification from assets held for sale | 1,634 | (6,829) |
Others | (4,211) | |
Ending, balances | (36,658) | (39,068) |
Accumulated Depreciation [Member] | Equipment [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening balances | (53,872) | (47,776) |
Sales and/or disposals for the year | 1,855 | 3,622 |
Exchange differences | 2,704 | (2,110) |
Impairment | 526 | (11) |
Others | 1,429 | |
Ending, balances | (57,754) | (53,872) |
Accumulated Depreciation [Member] | Other [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening balances | (30,441) | (30,356) |
Sales and/or disposals for the year | 1,893 | 2,079 |
Exchange differences | 879 | (705) |
Impairment | 9,390 | (476) |
Others | 3,346 | |
Ending, balances | (22,859) | $ (30,441) |
Accumulated Depreciation [Member] | ATM Equipment [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Ending, balances | (29) | |
Accumulated Depreciation [Member] | Fixed assets [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Ending, balances | (10,138) | |
Accumulated Depreciation [Member] | Leasehold improvements [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Ending, balances | $ (10,960) |
Property, Plant and Equipment_3
Property, Plant and Equipment - Schedule of Movements of Accumulated Depreciation of Property, Plant and Equipment (Detail) - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening balances | $ 95,080 | $ 95,564 |
Ending, balances | 80,615 | 95,080 |
Land Buildings And Equipment [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening balances | 50,222 | 43,065 |
Ending, balances | 40,160 | 50,222 |
Equipment [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening balances | 27,551 | 32,607 |
Ending, balances | 27,650 | 27,551 |
Other [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening balances | 17,307 | 19,892 |
Ending, balances | 12,805 | 17,307 |
ATM Equipment [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Impairment | 24 | |
Fixed assets [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Impairment | 867 | |
Leasehold improvements [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Impairment | 9,403 | |
Gross assets [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening balances | 218,461 | 196,474 |
Sales and/or disposals for the year | (4,210) | (12,099) |
Exchange differences | (6,658) | 3,990 |
Reclassification from assets held for sale | 5,622 | 9,863 |
Impairment | (31,421) | |
Others | (878) | (207) |
Ending, balances | 197,886 | 218,461 |
Gross assets [member] | Land Buildings And Equipment [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening balances | 89,290 | 65,843 |
Sales and/or disposals for the year | (381) | (3,592) |
Exchange differences | (1,935) | 507 |
Reclassification from assets held for sale | 5,622 | 9,863 |
Impairment | (20,981) | |
Others | 7,220 | |
Ending, balances | 76,818 | 89,290 |
Gross assets [member] | Equipment [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening balances | 81,423 | 80,383 |
Sales and/or disposals for the year | (1,855) | (4,493) |
Exchange differences | (3,550) | 2,514 |
Impairment | (578) | |
Others | (5,484) | |
Ending, balances | 85,404 | 81,423 |
Gross assets [member] | Other [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening balances | 47,748 | 50,248 |
Sales and/or disposals for the year | (1,974) | (4,014) |
Exchange differences | (1,173) | 969 |
Impairment | (9,862) | |
Others | (878) | (1,943) |
Ending, balances | 35,664 | 47,748 |
Gross assets [member] | ATM Equipment [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Ending, balances | 53 | |
Gross assets [member] | Fixed assets [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Ending, balances | 11,005 | |
Gross assets [member] | Leasehold improvements [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Ending, balances | 20,363 | |
Accumulated Depreciation [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening balances | (123,381) | (100,910) |
Depreciation for the year | (21,826) | (21,169) |
Sales and/or disposals for the year | 4,035 | 8,585 |
Exchange differences | 4,408 | (2,894) |
Reclassification from assets held for sale | 1,634 | (6,829) |
Impairment | 21,127 | (728) |
Others | 564 | |
Ending, balances | (117,271) | (123,381) |
Accumulated Depreciation [Member] | Land Buildings And Equipment [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening balances | (39,068) | (22,778) |
Depreciation for the year | (8,279) | (7,814) |
Sales and/or disposals for the year | 287 | 2,884 |
Exchange differences | 825 | (79) |
Reclassification from assets held for sale | 1,634 | (6,829) |
Impairment | 11,211 | (241) |
Others | (4,211) | |
Ending, balances | (36,658) | (39,068) |
Accumulated Depreciation [Member] | Equipment [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening balances | (53,872) | (47,776) |
Depreciation for the year | (8,967) | (9,026) |
Sales and/or disposals for the year | 1,855 | 3,622 |
Exchange differences | 2,704 | (2,110) |
Impairment | 526 | (11) |
Others | 1,429 | |
Ending, balances | (57,754) | (53,872) |
Accumulated Depreciation [Member] | Other [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Opening balances | (30,441) | (30,356) |
Depreciation for the year | (4,580) | (4,329) |
Sales and/or disposals for the year | 1,893 | 2,079 |
Exchange differences | 879 | (705) |
Impairment | 9,390 | (476) |
Others | 3,346 | |
Ending, balances | (22,859) | $ (30,441) |
Accumulated Depreciation [Member] | ATM Equipment [Member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Ending, balances | (29) | |
Accumulated Depreciation [Member] | Fixed assets [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Ending, balances | (10,138) | |
Accumulated Depreciation [Member] | Leasehold improvements [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Ending, balances | $ (10,960) |
Assets for Rights-of-Use and _3
Assets for Rights-of-Use and Obligations for Lease Contracts - Schedule of Lease Agreements (Detail) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of quantitative information about right-of-use assets [line items] | |||
Right of use assets | $ 146,008 | $ 167,441 | $ 176,795 |
Gross assets [member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Right of use assets | 196,165 | 197,255 | 176,795 |
Accumulated Depreciation [Member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Right of use assets | $ (50,157) | $ (29,814) | |
Land Buildings And Equipment [member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Years of useful life | 7 years | 5 years | |
Years of average remaining useful life | 6 years | 5 years | |
Right of use assets | $ 145,906 | $ 167,265 | 176,795 |
Land Buildings And Equipment [member] | Gross assets [member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Right of use assets | 195,992 | 197,065 | $ 176,795 |
Land Buildings And Equipment [member] | Accumulated Depreciation [Member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Right of use assets | $ (50,086) | $ (29,800) | |
Other leased assets [member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Years of useful life | 3 years | 3 years | |
Years of average remaining useful life | 3 years | 3 years | |
Right of use assets | $ 102 | $ 176 | |
Other leased assets [member] | Gross assets [member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Right of use assets | 173 | 190 | |
Other leased assets [member] | Accumulated Depreciation [Member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Right of use assets | $ (71) | $ (14) |
Assets for Rights-of-Use and _4
Assets for Rights-of-Use and Obligations for Lease Contracts - Schedule of Movement in Gross Balance for Right of Use Assets (Detail) - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of quantitative information about right-of-use assets [line items] | ||
Balance as of January 01, 2019 | $ 167,441 | $ 176,795 |
Depreciation of the period | (29,993) | (31,857) |
Balance as of December 31, 2019 | 146,008 | 167,441 |
Land Buildings And Equipment [member] | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Balance as of January 01, 2019 | 167,265 | 176,795 |
Balance as of December 31, 2019 | 145,906 | 167,265 |
Other leased assets [member] | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Balance as of January 01, 2019 | 176 | |
Balance as of December 31, 2019 | 102 | 176 |
Gross assets [member] | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Balance as of January 01, 2019 | 197,255 | 176,795 |
Additions of the period | 9,250 | 25,814 |
Disposals due to early termination | (9,707) | (16,953) |
Remeasurements of the liability due to modifications | 747 | |
Inflation indexation adjustments | 2,701 | 9,488 |
Exchange rate difference | (4,081) | 2,111 |
Balance as of December 31, 2019 | 196,165 | 197,255 |
Gross assets [member] | Land Buildings And Equipment [member] | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Balance as of January 01, 2019 | 197,065 | 176,795 |
Additions of the period | 9,250 | 25,624 |
Disposals due to early termination | (9,707) | (16,953) |
Remeasurements of the liability due to modifications | 747 | |
Inflation indexation adjustments | 2,701 | 9,488 |
Exchange rate difference | (4,064) | 2,111 |
Balance as of December 31, 2019 | 195,992 | 197,065 |
Gross assets [member] | Other leased assets [member] | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Balance as of January 01, 2019 | 190 | |
Additions of the period | 190 | |
Exchange rate difference | (17) | |
Balance as of December 31, 2019 | 173 | 190 |
Accumulated Depreciation [Member] | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Balance as of January 01, 2019 | (29,814) | |
Depreciation of the period | (29,993) | (31,857) |
Disposals due to early termination | 8,738 | (2,590) |
Exchange rate difference | 912 | (547) |
Balance as of December 31, 2019 | (50,157) | (29,814) |
Accumulated Depreciation [Member] | Land Buildings And Equipment [member] | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Balance as of January 01, 2019 | (29,800) | |
Depreciation of the period | (29,936) | (31,843) |
Disposals due to early termination | 8,738 | (2,590) |
Exchange rate difference | 912 | (547) |
Balance as of December 31, 2019 | (50,086) | (29,800) |
Accumulated Depreciation [Member] | Other leased assets [member] | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Balance as of January 01, 2019 | (14) | |
Depreciation of the period | (57) | (14) |
Balance as of December 31, 2019 | $ (71) | $ (14) |
Assets for Rights-of-Use and _5
Assets for Rights-of-Use and Obligations for Lease Contracts - Schedule of Lease Obligations (Detail) - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Assets for Rights-of-Use and Obligations for Lease Contracts | |||
Totals | $ 151,885 | $ 172,924 | $ 176,795 |
Assets for Rights-of-Use and _6
Assets for Rights-of-Use and Obligations for Lease Contracts - Schedule of Movement in Lease Liabilities and Cash Flows (Detail) - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Assets for Rights-of-Use and Obligations for Lease Contracts | ||
Balance as January 01, 2019 | $ 172,924 | $ 176,795 |
Additions due to new contracts | 9,250 | 25,624 |
Disposals due to early termination | (1,971) | (10,808) |
Interest expenses | 4,923 | 5,034 |
Remeasurements of the liability due to modifications | 1,399 | |
Inflation indexation adjustments | 2,701 | 9,488 |
Exchange rate adjustments | (4) | |
Exchange rate difference | (3,650) | 2,868 |
Capital and interest payments | (33,687) | (36,077) |
Totals | $ 151,885 | $ 172,924 |
Assets for Rights-of-Use and _7
Assets for Rights-of-Use and Obligations for Lease Contracts - Schedule of Future Maturities Lease Liabilities (Detail) - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of maturity analysis of operating lease payments [line items] | |||
Totals | $ 151,885 | $ 172,924 | $ 176,795 |
1 year [member] | |||
Disclosure of maturity analysis of operating lease payments [line items] | |||
Totals | 30,829 | 32,628 | |
Due within 1 and 2 Year [member] | |||
Disclosure of maturity analysis of operating lease payments [line items] | |||
Totals | 27,779 | 28,462 | |
2 year [member] | |||
Disclosure of maturity analysis of operating lease payments [line items] | |||
Totals | 24,083 | 25,084 | |
3 year [member] | |||
Disclosure of maturity analysis of operating lease payments [line items] | |||
Totals | 20,991 | 22,098 | |
4 year [member] | |||
Disclosure of maturity analysis of operating lease payments [line items] | |||
Totals | 16,627 | 19,042 | |
Later than five years [member] | |||
Disclosure of maturity analysis of operating lease payments [line items] | |||
Totals | $ 31,576 | $ 45,610 |
Current Taxes and Deferred Ta_3
Current Taxes and Deferred Taxes - Additional Income (Detail) - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of geographical areas [abstract] | ||
Net provision for current taxes | $ 62,933 | $ 85,503 |
Current Taxes and Deferred Ta_4
Current Taxes and Deferred Taxes - Schedule of Effect of Current Taxes Assets and Liabilities By Geographic Area (Detail) - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of geographical areas [line items] | ||
Current tax assets | $ 64,699 | $ 85,516 |
Current tax liabilities | (1,766) | (13) |
Totals, net | 62,933 | 85,503 |
Chile [member] | ||
Disclosure of geographical areas [line items] | ||
Current tax assets | 43,533 | 30,773 |
Current tax liabilities | (596) | (13) |
Totals, net | 42,937 | 30,760 |
Colombia [member] | ||
Disclosure of geographical areas [line items] | ||
Current tax assets | 19,723 | 54,743 |
Current tax liabilities | (1,170) | |
Totals, net | 18,553 | $ 54,743 |
United States [member] | ||
Disclosure of geographical areas [line items] | ||
Current tax assets | 1,443 | |
Totals, net | $ 1,443 |
Current Taxes and Deferred Ta_5
Current Taxes and Deferred Taxes - Schedule of Details of Current Tax Items by Geographical Area (Detail) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of geographical areas [line items] | |||
Income tax, with effect in profit and loss | $ 8,064 | $ (77,137) | |
Income tax, effect on equity, net investments | (21,795) | 6,124 | |
Income tax, effect on equity cash flow hedge | (5) | 964 | |
Income tax, rate 27% | $ (13,736) | $ (70,049) | |
Applicable tax rate | 27.00% | 27.00% | 27.00% |
Monthly Provisional Payment | $ 70,608 | $ 88,839 | |
Tax Credit for Training Costs | 800 | 850 | |
Tax Credit Donations | 264 | 802 | |
4% event capital credit | 2,920 | ||
Other taxes to be recovered | 2,077 | 65,061 | |
Totals | 62,933 | 85,503 | |
Chile [member] | |||
Disclosure of geographical areas [line items] | |||
Income tax, with effect in profit and loss | 12,348 | (68,075) | |
Income tax, effect on equity, net investments | (21,795) | 6,124 | |
Income tax, effect on equity cash flow hedge | (5) | 964 | |
Income tax, rate 27% | $ (9,452) | $ (60,987) | |
Applicable tax rate | 27.00% | 27.00% | 27.00% |
Monthly Provisional Payment | $ 49,340 | $ 61,621 | |
Tax Credit for Training Costs | 800 | 850 | |
Tax Credit Donations | 264 | 802 | |
4% event capital credit | 2,920 | ||
Other taxes to be recovered | (935) | 28,474 | |
Totals | $ 42,937 | $ 30,760 | |
United States [member] | |||
Disclosure of geographical areas [line items] | |||
Applicable tax rate | 24.10% | 21.00% | 21.00% |
Other taxes to be recovered | $ 1,443 | ||
Totals | 1,443 | ||
Colombia [member] | |||
Disclosure of geographical areas [line items] | |||
Income tax, with effect in profit and loss | (4,284) | $ (9,062) | |
Income tax, rate 27% | $ (4,284) | $ (9,062) | |
Applicable tax rate | 36.00% | 33.00% | 37.00% |
Monthly Provisional Payment | $ 21,268 | $ 27,218 | |
Other taxes to be recovered | 1,569 | 36,587 | |
Totals | $ 18,553 | $ 54,743 |
Current Taxes and Deferred Ta_6
Current Taxes and Deferred Taxes - Schedule Of Effect On Income (Detail) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Income tax expense | |||
Current tax expense | $ 8,064 | $ (77,137) | $ (95,760) |
Deferred taxes | |||
Deferred tax expenses | 109,848 | 33,727 | 28,110 |
Subtotals | 117,912 | (43,410) | (67,650) |
Others | (2,702) | (4,443) | 591 |
Net expense for income taxes | $ 115,210 | $ (47,853) | $ (67,059) |
Current Taxes and Deferred Ta_7
Current Taxes and Deferred Taxes - Schedule of Nominal Tax Rates of Countries Where Consolidated Subsidiaries Located (Detail) | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of geographical areas [line items] | |||
Rate | 27.00% | 27.00% | 27.00% |
Chile [member] | |||
Disclosure of geographical areas [line items] | |||
Rate | 27.00% | 27.00% | 27.00% |
Colombia [member] | |||
Disclosure of geographical areas [line items] | |||
Rate | 36.00% | 33.00% | 37.00% |
United States [member] | |||
Disclosure of geographical areas [line items] | |||
Rate | 24.10% | 21.00% | 21.00% |
Current Taxes and Deferred Ta_8
Current Taxes and Deferred Taxes - Schedule Of Effective Tax Rate Reconciliation (Detail) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of geographical areas [line items] | |||
Amount calculated by using the statutory rates | 27.00% | 27.00% | 27.00% |
Equity price level restatement for tax purposes | 2.53% | (13.94%) | (9.49%) |
Local tax for USA and Panama income | 0.18% | 1.76% | 0.02% |
Penalty fee SBIF | 0.69% | ||
Goodwill impairment effect | (19.93%) | ||
Intangible tax penalties | (0.70%) | ||
Permanent and other differences (*) | 0.25% | 2.26% | (3.33%) |
Totals | (12.24%) | (27.77%) | (28.67%) |
Amount calculated by using the statutory rates | $ 254,169 | $ (46,541) | $ (63,157) |
Equity price level restatement for tax purposes | 23,814 | 24,037 | 22,188 |
Local tax for USA and Panama income | 1,665 | (3,030) | (54) |
Penalty fee SBIF | (1,616) | ||
Goodwill impairment effect | 187,633 | ||
Intangible tax penalties | 6,561 | ||
Permanent and other differences | 2,381 | (3,897) | 7,799 |
Net expense for income taxes | $ 115,210 | $ (47,853) | $ (67,059) |
Colombia [member] | |||
Disclosure of geographical areas [line items] | |||
Amount calculated by using the statutory rates | 36.00% | 33.00% | 37.00% |
Exchange differences due to investments in Colombia | 1.94% | 9.51% | 13.47% |
Effect of rate change | (0.40%) | (2.29%) | (0.01%) |
Effect of rates subsidiary | 1.37% | 3.42% | 0.50% |
Exchange differences due to investments in Colombia | $ 18,285 | $ (16,399) | $ (31,499) |
Effect of rate change | (3,804) | 3,954 | 20 |
Effect of rates subsidiary | 12,884 | (5,896) | (1,173) |
Net expense for income taxes | $ 41,245 | $ (14,460) | $ 18,210 |
Chile [member] | |||
Disclosure of geographical areas [line items] | |||
Amount calculated by using the statutory rates | 27.00% | 27.00% | 27.00% |
Net expense for income taxes | $ 73,965 | $ (33,393) | $ (85,269) |
New York [member] | |||
Disclosure of geographical areas [line items] | |||
Effect of rates subsidiary | 0.05% | (0.18%) | |
Effect of rates subsidiary | $ 10 | $ (81) | $ 433 |
Current Taxes and Deferred Ta_9
Current Taxes and Deferred Taxes - Schedule of "OCI" that may be Reclassified Subsequent to Profit or Loss (Detail) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Income Taxes [abstract] | |||
Debt instruments at fair value through other comprehensive income | $ 1,558 | $ (5,926) | $ (2,172) |
Hedge of a net investment in foreign operations | (21,795) | 14,373 | 10,565 |
Cash flow hedge | (3,034) | (162) | (1,669) |
Total charge to other comprehensive income | (23,271) | 8,285 | 6,724 |
Income tax relating to defined benefit obligation | (19) | 1,542 | (44) |
Total charge to other comprehensive income | $ (19) | $ 1,542 | $ (44) |
Current Taxes and Deferred T_10
Current Taxes and Deferred Taxes - Schedule of Effects of Deferred Taxes on Assets and Liabilities (Detail) - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of geographical areas [line items] | ||
Allowances for loan losses | $ (242,422) | $ (162,874) |
Accrued interest on past due portfolio | (6,031) | (8,214) |
Unearned price differences | (183) | (324) |
Personnel provisions | (10,200) | (20,618) |
Miscellaneous provisions | (1,693) | (41,576) |
Tax losses | (51,546) | (55,598) |
Net tax value of amortizable assets | (2,231) | (16,051) |
Depreciation of property, plant and equipment | 30,971 | 47,423 |
Lease division and others | (10,803) | (18,925) |
Mark to market of financial instruments | (37,727) | 15,846 |
Itaú-Corpbanca business combination | 30,263 | 57,996 |
IFRS 16 leases effect | 1,643 | 1,403 |
Others | (9,074) | (4,076) |
Totals assets (liabilities), net | (312,319) | (208,394) |
Chile [member] | ||
Disclosure of geographical areas [line items] | ||
Allowances for loan losses | (212,344) | (155,115) |
Accrued interest on past due portfolio | (6,031) | (8,214) |
Unearned price differences | (183) | (324) |
Personnel provisions | (6,449) | (16,860) |
Miscellaneous provisions | (25,532) | (49,335) |
Tax losses | (1,744) | (1,912) |
Net tax value of amortizable assets | (2,231) | (16,051) |
Depreciation of property, plant and equipment | 31,611 | 50,746 |
Lease division and others | (3,682) | (11,619) |
Mark to market of financial instruments | (41,149) | 13,484 |
Itaú-Corpbanca business combination | 27,673 | 16,584 |
IFRS 16 leases effect | 1,080 | 905 |
Others | (9,119) | (3,136) |
Totals assets (liabilities), net | (250,260) | (182,657) |
United States [member] | ||
Disclosure of geographical areas [line items] | ||
Allowances for loan losses | 91 | (358) |
Personnel provisions | (195) | 91 |
Miscellaneous provisions | 3,588 | (856) |
Tax losses | (15,500) | (15,750) |
Depreciation of property, plant and equipment | 68 | |
Mark to market of financial instruments | 448 | |
IFRS 16 leases effect | 48 | |
Others | (2,860) | (1,654) |
Totals assets (liabilities), net | (14,408) | (18,527) |
Colombia [member] | ||
Disclosure of geographical areas [line items] | ||
Allowances for loan losses | (30,169) | (7,401) |
Personnel provisions | (3,556) | (3,849) |
Miscellaneous provisions | 20,251 | 8,615 |
Tax losses | (34,302) | (37,936) |
Depreciation of property, plant and equipment | (708) | (3,323) |
Lease division and others | (7,121) | (7,306) |
Mark to market of financial instruments | 2,974 | 2,362 |
Itaú-Corpbanca business combination | 2,590 | 41,412 |
IFRS 16 leases effect | 515 | 498 |
Others | 2,905 | 714 |
Totals assets (liabilities), net | $ (47,651) | $ (7,210) |
Current Taxes and Deferred T_11
Current Taxes and Deferred Taxes - Schedule of Deferred Taxes (Detail) - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of geographical areas [line items] | ||
Deferred tax assets | $ 312,556 | $ 208,657 |
Deferred tax liabilities | (237) | (263) |
Net by geographic area | 312,319 | 208,394 |
Chile [member] | ||
Disclosure of geographical areas [line items] | ||
Deferred tax assets | 250,260 | 182,657 |
Net by geographic area | 250,260 | 182,657 |
United States [member] | ||
Disclosure of geographical areas [line items] | ||
Deferred tax assets | 14,408 | 18,527 |
Net by geographic area | 14,408 | 18,527 |
Colombia [member] | ||
Disclosure of geographical areas [line items] | ||
Deferred tax assets | 47,888 | 7,473 |
Deferred tax liabilities | (237) | (263) |
Net by geographic area | $ 47,651 | $ 7,210 |
Current Taxes and Deferred T_12
Current Taxes and Deferred Taxes - Summary of Effect for Deferred Taxes Presented Assets and Liabilities (Detail) - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of deferred income taxes [line items] | ||
Allowances for loan losses | $ 242,422 | $ 162,874 |
Accrued interest on past due portfolio | 6,031 | 8,214 |
Unearned price differences | 183 | 324 |
Personnel provisions | 10,200 | 20,618 |
Miscellaneous provisions | 1,693 | 41,576 |
Tax losses | 51,546 | 55,598 |
Net tax value of amortizable assets | 2,231 | 16,051 |
Depreciation of property, plant and equipment | (30,971) | (47,423) |
Lease division and others | 10,803 | 18,925 |
Mark to market of financial instruments | 37,727 | (15,846) |
Itaú-Corpbanca business combination | (30,263) | (57,996) |
Others | 9,074 | 4,076 |
IFRS 16 leases effect | 1,643 | 1,403 |
Totals assets (liabilities), net | 312,319 | 208,394 |
Deferred Income Tax Liabilities [Member] | ||
Disclosure of deferred income taxes [line items] | ||
Personnel provisions | 17 | |
Depreciation of property, plant and equipment | (274) | |
Others | 20 | (263) |
Totals assets (liabilities), net | (237) | (263) |
Deferred Income Tax Assets [Member] | ||
Disclosure of deferred income taxes [line items] | ||
Allowances for loan losses | 242,422 | 162,874 |
Accrued interest on past due portfolio | 6,031 | 8,214 |
Unearned price differences | 183 | 324 |
Personnel provisions | 10,183 | 20,618 |
Miscellaneous provisions | 1,693 | 41,576 |
Tax losses | 51,546 | 55,598 |
Net tax value of amortizable assets | 2,231 | 16,051 |
Depreciation of property, plant and equipment | (30,697) | (47,423) |
Lease division and others | 10,803 | 18,925 |
Mark to market of financial instruments | 37,727 | (15,846) |
Itaú-Corpbanca business combination | (30,263) | (57,996) |
Others | 9,054 | 4,339 |
IFRS 16 leases effect | 1,643 | 1,403 |
Totals assets (liabilities), net | $ 312,556 | $ 208,657 |
Other Assets and Non-current _3
Other Assets and Non-current Assets Held for Sale - Schedule of Other Assets (Detail) - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure Of Other Assets And Non Current Assets Held For Sale [abstract] | ||
Assets for leasing | $ 10,807 | $ 18,724 |
Other assets | 531,826 | 752,137 |
Deposits in guarantee | 11,230 | 33,786 |
Accounts and notes receivable | 37,070 | 48,017 |
Rights on brokerage transactions | 26,589 | 158,687 |
Repossessed assets from leasing transactions | 3,809 | 1,787 |
Prepaid expenses | 26,629 | 21,179 |
Collateral for financial transactions (threshold) | 413,439 | 407,529 |
Claims receivable from insurance companies | 230 | 1,933 |
Asset management fees receivable | 811 | 816 |
Insurance brokerage fees receivable | 6,741 | 5,654 |
Other assets | 5,278 | 72,749 |
Totals | $ 542,633 | $ 770,861 |
Other Asset and Non-current Ass
Other Asset and Non-current Assets Held for Sale - Schedule of Non-Current Assets (Detail) - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure Of Other Assets And Non Current Assets Held For Sale [abstract] | ||
Assets received in lieu of payment | $ 13,269 | $ 10,291 |
Property, plant and equipment held for sale | 1,809 | 6,911 |
Totals | $ 15,078 | $ 17,202 |
Deposits and Other Demand Lia_3
Deposits and Other Demand Liabilities and Time Deposits - Schedule of Deposits and Other Demand Liabilities (Detail) - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Deposits And Other Demand Liabilities [abstract] | ||
Checking accounts | $ 4,038,467 | $ 2,882,535 |
Other deposits and demand accounts | 1,852,355 | 1,698,439 |
Advance payments received from customers | 40,032 | 45,902 |
Other demand liabilities | 266,552 | 246,572 |
Totals | $ 6,197,406 | $ 4,873,448 |
Deposits and Other Demand Lia_4
Deposits and Other Demand Liabilities and Time Deposits - Schedule of Time Deposits and Other Time Liabilities (Detail) - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Time Deposits and Other Time Liabilities [abstract] | ||
Time deposits | $ 11,413,370 | $ 11,599,943 |
Time savings accounts | 19,467 | 20,016 |
Other time liabilities | 227 | 228 |
Totals | $ 11,433,064 | $ 11,620,187 |
Interbank Borrowings - Schedule
Interbank Borrowings - Schedule of Interbank Borrowings (Detail) - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of detailed information about borrowings [line items] | ||
Total | $ 3,798,978 | $ 2,646,756 |
Loans obtained from local financial institutions [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 2,257,226 | |
Loans obtained from local financial institutions [member] | Chilean Central Bank [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 2,257,226 | |
Loans obtained from foreign financial institutions [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 1,541,752 | 2,646,756 |
Loans obtained from foreign financial institutions [member] | Apple Bank for Saving [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 34,195 | |
Loans obtained from foreign financial institutions [member] | Bancaribe curacao Bank n.v. [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 2,411 | |
Loans obtained from foreign financial institutions [member] | Banco Credito del Peru [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 104,831 | |
Loans obtained from foreign financial institutions [member] | Banco de Bogota [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 4,156 | 8,250 |
Loans obtained from foreign financial institutions [member] | Latin American Export Bank [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 60,759 | 63,991 |
Loans obtained from foreign financial institutions [member] | Banco Republica [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 1,403 | |
Loans obtained from foreign financial institutions [member] | Bancoldex S.A Colombia [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 11,123 | 46,390 |
Loans obtained from foreign financial institutions [member] | Bank of America, N.A. [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 92,395 | 160,243 |
Loans obtained from foreign financial institutions [member] | Bank of Montreal [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 113,404 | 104,331 |
Loans obtained from foreign financial institutions [member] | Bank of New York [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 56,858 | |
Loans obtained from foreign financial institutions [member] | Bank of Nova Scotia [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 82,324 | 101,989 |
Loans obtained from foreign financial institutions [member] | Bayern Landesbank [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 2,411 | |
Loans obtained from foreign financial institutions [member] | BBVA Asset Management Continental S.A.Peru [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 75,057 | 86,709 |
Loans obtained from foreign financial institutions [member] | BNP Paribas [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 92,167 | 98,817 |
Loans obtained from foreign financial institutions [member] | China Construction Bank [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 5,556 | |
Loans obtained from foreign financial institutions [member] | Citibank N.A. [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 37,522 | 206,549 |
Loans obtained from foreign financial institutions [member] | Cobank CB [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 16,258 | 30,882 |
Loans obtained from foreign financial institutions [member] | Commerzbank AG [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 24,055 | 71,646 |
Loans obtained from foreign financial institutions [member] | Andean Development Corporation [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 71,073 | 75,149 |
Loans obtained from foreign financial institutions [member] | Credicorp capital SASAF [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 175,854 | 200,374 |
Loans obtained from foreign financial institutions [member] | Deutsche Bank A.G. [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 74,220 | |
Loans obtained from foreign financial institutions [member] | Export Development Canada [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 12,078 | |
Loans obtained from foreign financial institutions [member] | Findeter S.A - Financiera del Desarrollo Territorial [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 44,100 | 44,552 |
Loans obtained from foreign financial institutions [member] | HSBC USA [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 74,877 | |
Loans obtained from foreign financial institutions [member] | IFC International Finance Corporation [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 82,561 | 118,065 |
Loans obtained from foreign financial institutions [member] | Ing Bank NV [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 14,870 | |
Loans obtained from foreign financial institutions [member] | Interfondos S.A. Sociedad Administradora de Fondos [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 20,105 | 55,596 |
Loans obtained from foreign financial institutions [member] | KBC Bank NV [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 21,896 | |
Loans obtained from foreign financial institutions [member] | La Caixa [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 25,690 | 13,961 |
Loans obtained from foreign financial institutions [member] | Mizuho corporate bank [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 2,411 | |
Loans obtained from foreign financial institutions [member] | Scotia Fondos Sociedad Administradora de Fondos S.A. [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 24,280 | 34,951 |
Loans obtained from foreign financial institutions [member] | Shanghai Commercial and Savings Bank [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 279,202 | |
Loans obtained from foreign financial institutions [member] | Standard Chartered Bank [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 229,063 | |
Loans obtained from foreign financial institutions [member] | Sumitomo Mitsui Banking Corporation [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 217,347 | 44,826 |
Loans obtained from foreign financial institutions [member] | The Export-Import Bank of Korea [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 146,549 | |
Loans obtained from foreign financial institutions [member] | Unicredit Bank [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 14,220 | |
Loans obtained from foreign financial institutions [member] | Wells Fargo Bank, N.A. [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 67,519 | 82,480 |
Loans obtained from foreign financial institutions [member] | Zuercher Kantonalbank [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 7,044 | |
Loans obtained from foreign financial institutions [member] | Other banks [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | $ 51,661 | $ 65,252 |
Interbank Borrowings - Schedu_2
Interbank Borrowings - Schedule of Interbank Borrowings from Financial Institutions by Maturity (Detail) - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of detailed information about borrowings [line items] | ||
Total | $ 3,798,978 | $ 2,646,756 |
1 year [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 942,140 | 1,997,751 |
Due within 1 and 2 Year [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 962,045 | 442,784 |
2 year [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 8,764 | 83,908 |
3 year [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 1,847,890 | 80,073 |
4 year [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 15,675 | 7,521 |
Later than five years [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | $ 22,464 | $ 34,719 |
Debt Instruments Issued and O_3
Debt Instruments Issued and Other Financial Liabilities - Schedule of Composition (Detail) - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Debt instruments issued | ||
Debt instruments issued | $ 6,204,856 | $ 6,408,356 |
Other financial liabilities | ||
Other financial liabilities | 13,123 | 12,966 |
Totals | 6,217,979 | 6,421,322 |
Mortgage finance bonds [member] | ||
Debt instruments issued | ||
Debt instruments issued | 30,846 | 40,933 |
Senior bond [member] | ||
Debt instruments issued | ||
Debt instruments issued | 5,092,979 | 5,289,084 |
Subordinated Bonds [member] | ||
Debt instruments issued | ||
Debt instruments issued | 1,081,031 | 1,078,339 |
Public Sector Liabilities [member] | ||
Other financial liabilities | ||
Other financial liabilities | 10 | |
Borrowings From Domestic Financial Institutions [member] | ||
Other financial liabilities | ||
Other financial liabilities | $ 13,123 | $ 12,956 |
Debt Instruments Issued and O_4
Debt Instruments Issued and Other Financial Liabilities - Schedule of Debt Classified (Detail) - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of detailed information about borrowings [line items] | ||
Debt instruments issued | $ 6,204,856 | $ 6,408,356 |
Other financial liabilities | 13,123 | 12,966 |
Mortgage finance bonds [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Debt instruments issued | 30,846 | 40,933 |
Senior bond [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Debt instruments issued | 5,092,979 | 5,289,084 |
Subordinated Bonds [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Debt instruments issued | 1,081,031 | 1,078,339 |
Long term debts [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Debt instruments issued | 5,876,583 | 5,756,848 |
Long term debts [member] | Mortgage finance bonds [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Debt instruments issued | 24,251 | 33,046 |
Long term debts [member] | Senior bond [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Debt instruments issued | 4,771,301 | 4,645,463 |
Long term debts [member] | Subordinated Bonds [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Debt instruments issued | 1,081,031 | 1,078,339 |
Short term debts [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Debt instruments issued | 328,273 | 651,508 |
Other financial liabilities | 13,123 | 12,966 |
Short term debts [member] | Mortgage finance bonds [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Debt instruments issued | 6,595 | 7,887 |
Short term debts [member] | Senior bond [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Debt instruments issued | $ 321,678 | $ 643,621 |
Debt Instruments Issued and O_5
Debt Instruments Issued and Other Financial Liabilities - Summary of Maturities for Mortgage Finance Bonds (Detail) - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of detailed information about borrowings [line items] | ||
Debt maturity | $ 6,204,856 | $ 6,408,356 |
Mortgage finance bonds [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Debt maturity | 30,846 | 40,933 |
1 year [member] | Mortgage finance bonds [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Debt maturity | 6,595 | 7,887 |
Due within 1 and 2 Year [member] | Mortgage finance bonds [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Debt maturity | 5,638 | 6,508 |
2 year [member] | Mortgage finance bonds [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Debt maturity | 5,068 | 6,072 |
3 year [member] | Mortgage finance bonds [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Debt maturity | 4,544 | 5,524 |
4 year [member] | Mortgage finance bonds [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Debt maturity | 3,484 | 5,121 |
Later than five years [member] | Mortgage finance bonds [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Debt maturity | $ 5,517 | $ 9,821 |
Debt Instruments Issued and O_6
Debt Instruments Issued and Other Financial Liabilities - Schedule of Senior Bonds, by Currency (Detail) - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of detailed information about borrowings [line items] | ||
Debt Securities | $ 6,204,856 | $ 6,408,356 |
Senior bond [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Debt Securities | 5,092,979 | 5,289,084 |
Hungary, Forint | Senior bond [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Debt Securities | 4,134,994 | 4,273,637 |
CLP [member] | Senior bond [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Debt Securities | 399,992 | 481,083 |
COP [member] | Senior bond [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Debt Securities | $ 557,993 | $ 534,364 |
Debt Instruments Issued and O_7
Debt Instruments Issued and Other Financial Liabilities - Schedule of Maturities for Senior Bonds (Detail) - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of detailed information about borrowings [line items] | ||
Debt Securities | $ 6,204,856 | $ 6,408,356 |
Senior bond [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Debt Securities | 5,092,979 | 5,289,084 |
Senior bond [member] | 1 year [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Debt Securities | 321,678 | 643,621 |
Senior bond [member] | Due within 1 and 2 Year [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Debt Securities | 486,427 | 323,921 |
Senior bond [member] | 2 year [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Debt Securities | 309,111 | 608,342 |
Senior bond [member] | 3 year [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Debt Securities | 589,699 | 282,882 |
Senior bond [member] | 4 year [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Debt Securities | 592,851 | 478,634 |
Senior bond [member] | Later than five years [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Debt Securities | $ 2,793,213 | $ 2,951,684 |
Debt Instruments Issued and O_8
Debt Instruments Issued and Other Financial Liabilities - Summary of Senior Bonds Issued (Detail) - Senior bond [member] - CLP ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Hungary, Forint | ||
Disclosure of detailed information about borrowings [line items] | ||
Amount | $ 8,000,000 | $ 17,500,000 |
Hungary, Forint | BITACR0418 [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Amount | $ 500,000 | |
Term | 5 years 8 months | |
Issuance rate | 2% annual | |
Hungary, Forint | BITACR0418 [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Amount | $ 1,000,000 | |
Term | 5 years 8 months | |
Issuance rate | 2% annual | |
Hungary, Forint | BITACR0418 [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Amount | $ 500,000 | |
Term | 5 years 8 months | |
Issuance rate | 2% annual | |
Hungary, Forint | BITACR0418 [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Amount | $ 3,000,000 | |
Term | 5 years 9 months | |
Issuance rate | 2% annual | |
Hungary, Forint | BITACR0418 [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Amount | $ 3,000,000 | |
Term | 6 years 6 months | |
Issuance rate | 2% annual | |
Hungary, Forint | BCORAM0710 [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Amount | $ 2,000,000 | |
Term | 5 years 5 months | |
Issuance rate | 3% annual | |
Hungary, Forint | BCORAM0710 [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Amount | $ 3,000,000 | |
Term | 5 years 5 months | |
Issuance rate | 3% annual | |
Hungary, Forint | BITACU0418 [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Amount | $ 2,000,000 | |
Term | 9 years 7 months | |
Issuance rate | 2% annual | |
Hungary, Forint | BITACU0418 [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Amount | $ 2,000,000 | |
Term | 9 years 7 months | |
Issuance rate | 2% annual | |
Hungary, Forint | BITACV0418 [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Amount | $ 2,000,000 | |
Term | 10 years 7 months | |
Issuance rate | 2% annual | |
Hungary, Forint | BITACV0418 [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Amount | $ 2,000,000 | |
Term | 10 years 7 months | |
Issuance rate | 2% annual | |
Hungary, Forint | BITACW0418 [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Amount | $ 2,500,000 | |
Term | 11 years 5 months | |
Issuance rate | 2% annual | |
Hungary, Forint | BITACS0418 [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Amount | $ 2,000,000 | |
Term | 7 years 3 months | |
Issuance rate | 2% annual | |
CLP [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Amount | $ 57,000,000 | |
CLP [member] | BCORBX0914 [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Amount | $ 40,000,000 | |
Term | 2 years 2 months | |
Issuance rate | 5% annual | |
CLP [member] | BCORBX0914 [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Amount | $ 1,000,000 | |
Term | 2 years 2 months | |
Issuance rate | 5% annual | |
CLP [member] | BCORBX0914 [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Amount | $ 14,500,000 | |
Term | 2 years 2 months | |
Issuance rate | 5% annual | |
CLP [member] | BCORBX0914 [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Amount | $ 1,500,000 | |
Term | 2 years 2 months | |
Issuance rate | 5% annual | |
COP [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Amount | $ 799,952,710,484 | $ 700,000,000,000 |
COP [member] | SERIE A - 60 [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Amount | $ 148,100,000,000 | |
Term | 5 years | |
Issuance rate | 6.00% annual | |
COP [member] | SERIE U - 120 [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Amount | $ 351,837,710,484 | |
Term | 10 years | |
Issuance rate | 2.71% annual | |
COP [member] | SERIE A SUBSERIE A60 [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Amount | $ 165,915,000,000 | |
Term | 5 years | |
Issuance rate | 4.83% annual | |
COP [member] | SUBSERIE B36 [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Amount | $ 134,100,000,000 | |
Term | 3 years | |
Issuance rate | 1.28% annual | |
COP [member] | SUBSERIE A36 [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Amount | $ 163,035,000,000 | |
Term | 3 years | |
Issuance rate | 6.13% annual | |
COP [member] | SUBSERIE C60 [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Amount | $ 186,965,000,000 | |
Term | 5 years | |
Issuance rate | 2.86% annual | |
COP [member] | SERIE A SUBSERIE A60 – 60 [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Amount | $ 170,820,000,000 | |
Term | 5 years | |
Issuance rate | 6.05% annual | |
COP [member] | SERIE C SUBSERIE C84 – 84 [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Amount | $ 50,000,000,000 | |
Term | 7 years | |
Issuance rate | 2.28% annual | |
COP [member] | SERIE C SUBSERIE C120 [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Amount | $ 129,180,000,000 | |
Term | 10 years | |
Issuance rate | 2.76% annual |
Debt Instruments Issued and O_9
Debt Instruments Issued and Other Financial Liabilities - Schedule of Subordinated Bonds, by Currency (Detail) - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of detailed information about borrowings [line items] | ||
Debt Securities | $ 6,204,856 | $ 6,408,356 |
Subordinated Bonds [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Debt Securities | 1,081,031 | 1,078,339 |
Subordinated Bonds [member] | Hungary, Forint | ||
Disclosure of detailed information about borrowings [line items] | ||
Debt Securities | 95,373 | 95,545 |
Subordinated Bonds [member] | CLP [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Debt Securities | 811,185 | 796,564 |
Subordinated Bonds [member] | COP [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Debt Securities | $ 174,473 | $ 186,230 |
Debt Instruments Issued and _10
Debt Instruments Issued and Other Financial Liabilities - Summary of Maturities for Subordinated Bonds (Detail) - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of detailed information about borrowings [line items] | ||
Total | $ 6,204,856 | $ 6,408,356 |
Subordinated Bonds [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 1,081,031 | 1,078,339 |
Subordinated Bonds [member] | Due within 1 and 2 Year [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 10,082 | |
Subordinated Bonds [member] | 2 year [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 21,706 | 14,526 |
Subordinated Bonds [member] | 3 year [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 122,290 | 23,923 |
Subordinated Bonds [member] | 4 year [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | 128,717 | |
Subordinated Bonds [member] | Later than five years [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Total | $ 926,953 | $ 911,173 |
Debt Instruments Issued and _11
Debt Instruments Issued and Other Financial Liabilities - Summary of Others Financial Obligations (Detail) - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of detailed information about borrowings [abstract] | ||
Amounts due to credit card transactions | $ 13,123 | $ 12,956 |
Others | 10 | |
Totals short-term financial liabilities | 13,123 | 12,966 |
After 1 year but within 2 years | $ 13,123 | $ 12,966 |
Provisions - Schedule of Provis
Provisions - Schedule of Provisions (Detail) - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of Other Provisions [Line Items] | |||
Totals | $ 135,090 | $ 177,827 | $ 214,903 |
Employee Related Provisions [member] | |||
Disclosure of Other Provisions [Line Items] | |||
Totals | 90,739 | 102,877 | |
Mandatory dividends [member] | |||
Disclosure of Other Provisions [Line Items] | |||
Totals | 38,120 | ||
Provisions for contingent loans risk [member] | |||
Disclosure of Other Provisions [Line Items] | |||
Totals | 39,775 | 34,271 | $ 45,848 |
Contingencies [member] | |||
Disclosure of Other Provisions [Line Items] | |||
Totals | $ 4,576 | $ 2,559 |
Provisions - Movements in Conti
Provisions - Movements in Contingent Loans Provisions For Contingent Loan Risk According to IFRS9 (Detail) - IFRS9 [member] - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Opening balance | $ 880,117 | $ 768,120 |
- Increases due to change in credit risk | (284,141) | (269,348) |
- Decreases due to change in credit risk | (112,615) | (111,255) |
Charge-offs | (174,556) | (167,364) |
- Changes due to modifications that did not result in derecognition | 789 | 0 |
New financial assets originated or purchased | 414,765 | 282,800 |
Financial assets that have been derecognized | (244,413) | (199,319) |
Foreign exchange and other movements | 4,777 | (37,787) |
Ending balance | 1,041,873 | 880,117 |
Individually Evaluated [Member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Opening balance | 193,135 | 133,610 |
- Increases due to change in credit risk | (52,321) | (63,901) |
- Decreases due to change in credit risk | (6,849) | (8,854) |
Charge-offs | (198) | (13,891) |
- Changes due to modifications that did not result in derecognition | 0 | 0 |
New financial assets originated or purchased | 116,657 | 19,872 |
Financial assets that have been derecognized | (66,395) | (4,976) |
Changes in models/risk parameters | (43,689) | (933) |
Foreign exchange and other movements | 10,916 | (2,540) |
Ending balance | 321,444 | 193,135 |
Individually Evaluated [Member] | Contingent loans [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Opening balance | 34,271 | |
- Transfers to stage 2 | 0 | 0 |
- Transfers to stage 3 | 0 | 0 |
- Increases due to change in credit risk | 8,625 | 8,155 |
- Decreases due to change in credit risk | (10,146) | (6,654) |
Charge-offs | (48) | 0 |
- Changes due to modifications that did not result in derecognition | 0 | 0 |
New financial assets originated or purchased | 15,502 | 7,463 |
Financial assets that have been derecognized | (11,325) | (21,239) |
Changes in models/risk parameters | 0 | 0 |
Foreign exchange and other movements | 2,896 | 698 |
Ending balance | 39,775 | 34,271 |
Individually Evaluated [Member] | Contingent loans [member] | After restatement [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Opening balance | 45,848 | |
Stage1 [member] | 12-month expected credit losses [member] | Individually Evaluated [Member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
- Transfers to stage 2 | 82 | |
- Transfers to stage 3 | 63 | |
- Changes due to modifications that did not result in derecognition | 0 | 0 |
New financial assets originated or purchased | 46 | |
Financial assets that have been derecognized | (500) | |
Foreign exchange and other movements | (645) | |
Ending balance | 46 | |
Stage1 [member] | 12-month expected credit losses [member] | Individually Evaluated [Member] | Contingent loans [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Opening balance | 13,889 | |
- Transfers to stage 1 | 574 | 1,123 |
- Transfers to stage 2 | (1,991) | (521) |
- Transfers to stage 3 | (73) | (90) |
- Increases due to change in credit risk | 3,554 | 1,932 |
- Decreases due to change in credit risk | (3,475) | (5,695) |
Charge-offs | (14) | 0 |
- Changes due to modifications that did not result in derecognition | 0 | 0 |
New financial assets originated or purchased | 6,365 | 5,490 |
Financial assets that have been derecognized | (4,633) | (4,927) |
Changes in models/risk parameters | 0 | 0 |
Foreign exchange and other movements | 4,391 | 698 |
Ending balance | 18,587 | 13,889 |
Stage1 [member] | 12-month expected credit losses [member] | Individually Evaluated [Member] | Contingent loans [member] | After restatement [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Opening balance | 15,879 | |
Stage 2 [member] | Lifetime expected credit losses [member] | Individually Evaluated [Member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Opening balance | 42,000 | 46,153 |
- Transfers to stage 2 | (82) | |
- Transfers to stage 3 | 9,055 | 22,642 |
- Increases due to change in credit risk | (8,381) | (1,216) |
- Decreases due to change in credit risk | (4,761) | (7,758) |
- Changes due to modifications that did not result in derecognition | 0 | 0 |
New financial assets originated or purchased | 12,567 | 12,496 |
Financial assets that have been derecognized | (4,873) | (1,824) |
Changes in models/risk parameters | 3,009 | (933) |
Foreign exchange and other movements | (24,948) | (13,426) |
Ending balance | 66,280 | 42,000 |
Stage 2 [member] | Lifetime expected credit losses [member] | Individually Evaluated [Member] | Contingent loans [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Opening balance | 14,172 | |
- Transfers to stage 1 | (549) | (1,036) |
- Transfers to stage 2 | 2,037 | 570 |
- Transfers to stage 3 | (112) | (161) |
- Increases due to change in credit risk | 4,347 | 1,618 |
- Decreases due to change in credit risk | (6,466) | (802) |
Charge-offs | (28) | 0 |
- Changes due to modifications that did not result in derecognition | 0 | 0 |
New financial assets originated or purchased | 1,780 | 1,193 |
Financial assets that have been derecognized | (1,282) | (15,322) |
Changes in models/risk parameters | 0 | 0 |
Foreign exchange and other movements | (1,720) | |
Ending balance | 12,179 | 14,172 |
Stage 2 [member] | Lifetime expected credit losses [member] | Individually Evaluated [Member] | Contingent loans [member] | After restatement [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Opening balance | 28,112 | |
Stage 3 [member] | Lifetime expected credit losses [member] | Individually Evaluated [Member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Opening balance | 151,135 | 87,457 |
- Transfers to stage 3 | (9,118) | (22,642) |
- Increases due to change in credit risk | (43,940) | (62,685) |
- Decreases due to change in credit risk | (2,088) | (1,096) |
Charge-offs | (198) | (13,891) |
- Changes due to modifications that did not result in derecognition | 0 | 0 |
New financial assets originated or purchased | 104,044 | 7,376 |
Financial assets that have been derecognized | (61,022) | (3,152) |
Changes in models/risk parameters | (46,698) | |
Foreign exchange and other movements | 36,509 | 10,886 |
Ending balance | 255,118 | 151,135 |
Stage 3 [member] | Lifetime expected credit losses [member] | Individually Evaluated [Member] | Contingent loans [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Opening balance | 6,210 | |
- Transfers to stage 1 | (25) | (87) |
- Transfers to stage 2 | (45) | (49) |
- Transfers to stage 3 | 185 | 251 |
- Increases due to change in credit risk | 724 | 4,605 |
- Decreases due to change in credit risk | (205) | (157) |
Charge-offs | (6) | 0 |
- Changes due to modifications that did not result in derecognition | 0 | 0 |
New financial assets originated or purchased | 7,357 | 780 |
Financial assets that have been derecognized | (5,410) | (990) |
Changes in models/risk parameters | 0 | 0 |
Foreign exchange and other movements | 224 | |
Ending balance | $ 9,009 | 6,210 |
Stage 3 [member] | Lifetime expected credit losses [member] | Individually Evaluated [Member] | Contingent loans [member] | After restatement [member] | ||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | ||
Opening balance | $ 1,857 |
Provisions - Schedule of Prov_2
Provisions - Schedule of Provision Balance Changes (Detail) - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of Other Provisions [Line Items] | ||
Opening Balances | $ 177,827 | $ 214,903 |
Provisions applied | (93,692) | (140,837) |
Provisions recorded | 144,467 | |
Provisions established | (154,014) | |
Provisions released | (97,955) | (50,835) |
Other movements | (5,104) | 10,129 |
Ending Balance | 135,090 | 177,827 |
Provisions for personnel salaries and expenses [member] | ||
Disclosure of Other Provisions [Line Items] | ||
Opening Balances | 102,877 | 99,945 |
Provisions applied | (55,487) | (71,020) |
Provisions recorded | 82,456 | |
Provisions established | (133,055) | |
Provisions released | (85,078) | (17,514) |
Other movements | (4,628) | 9,010 |
Ending Balance | 90,739 | 102,877 |
Provisions for mandatory dividends [member] | ||
Disclosure of Other Provisions [Line Items] | ||
Opening Balances | 38,120 | 51,614 |
Provisions applied | (38,120) | (51,614) |
Provisions recorded | 38,120 | |
Ending Balance | 38,120 | |
Provisions for contingent loans risk [member] | ||
Disclosure of Other Provisions [Line Items] | ||
Opening Balances | 34,271 | 45,848 |
Provisions applied | (23,804) | |
Provisions recorded | 18,483 | |
Provisions established | (16,366) | |
Provisions released | (10,861) | (6,954) |
Other movements | (1) | 698 |
Ending Balance | 39,775 | 34,271 |
Provisions for contingencies [member] | ||
Disclosure of Other Provisions [Line Items] | ||
Opening Balances | 2,559 | 17,496 |
Provisions applied | (85) | 5,601 |
Provisions recorded | 5,408 | |
Provisions established | (4,593) | |
Provisions released | (2,016) | (26,367) |
Other movements | (475) | 421 |
Ending Balance | $ 4,576 | $ 2,559 |
Provisions - Schedule of Prov_3
Provisions - Schedule of Provisions for Payroll and Employee Benefits (Detail) - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of Other Provisions [Line Items] | |||
Totals | $ 135,090 | $ 177,827 | $ 214,903 |
Long-term employee benefits [member] | |||
Disclosure of Other Provisions [Line Items] | |||
Provisions for employee benefits | 9,300 | 9,814 | 8,298 |
Pension plan [member] | |||
Disclosure of Other Provisions [Line Items] | |||
Provisions for employee benefits | 31,531 | 35,166 | 30,908 |
Retroactive unemployment plan [member] | |||
Disclosure of Other Provisions [Line Items] | |||
Provisions for employee benefits | 296 | 334 | 373 |
Retirements bonus plan [member] | |||
Disclosure of Other Provisions [Line Items] | |||
Provisions for employee benefits | 689 | 687 | $ 542 |
Employee Related Provisions [member] | |||
Disclosure of Other Provisions [Line Items] | |||
Vacation accrual | 17,207 | 15,231 | |
Totals | 90,739 | 102,877 | |
Employee Related Provisions [member] | Long-term employee benefits [member] | |||
Disclosure of Other Provisions [Line Items] | |||
Provisions for employee benefits | 9,300 | 9,814 | |
Employee Related Provisions [member] | Pension plan [member] | |||
Disclosure of Other Provisions [Line Items] | |||
Provisions for employee benefits | 31,531 | 35,166 | |
Employee Related Provisions [member] | Retroactive unemployment plan [member] | |||
Disclosure of Other Provisions [Line Items] | |||
Provisions for employee benefits | 296 | 334 | |
Employee Related Provisions [member] | Retirements bonus plan [member] | |||
Disclosure of Other Provisions [Line Items] | |||
Provisions for employee benefits | 689 | 687 | |
Employee Related Provisions [member] | Compensation years of service (short term) [member] | |||
Disclosure of Other Provisions [Line Items] | |||
Provisions for employee benefits | 716 | ||
Employee Related Provisions [member] | Other employee benefits [member] | |||
Disclosure of Other Provisions [Line Items] | |||
Provisions for employee benefits | $ 31,000 | $ 41,645 |
Provisions - Summary of Economi
Provisions - Summary of Economic Assumptions (Detail) - Long-term employee benefits [member] | Dec. 31, 2020 | Dec. 31, 2019 |
Summary of economic assumptions [line items] | ||
Discount rate | 5.00% | 6.25% |
Expected rate of salary increase | 4.50% | 5.50% |
Provisions - Movements of Prese
Provisions - Movements of Present Value Of Obligation and The Amounts Recognized in Consolidated Statements Of Income (Detail) - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of Other Provisions [Line Items] | ||
Provisions recorded | $ 144,467 | |
Long-term employee benefits [member] | ||
Disclosure of Other Provisions [Line Items] | ||
Beginning balance | $ 9,814 | 8,298 |
Net cost of benefits | 1,191 | 1,490 |
Payments | (820) | (815) |
Provisions recorded | 278 | |
Exchange differences | (885) | 563 |
Ending balance | $ 9,300 | $ 9,814 |
Provisions - Cost of Benefit (D
Provisions - Cost of Benefit (Detail) - Long-term employee benefits [member] - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of defined benefit plans [line items] | ||
Current services cost | $ 681 | $ 962 |
Interest expense on obligation | 510 | 528 |
Total | $ 1,191 | $ 1,490 |
Provisions - Summary of Econo_2
Provisions - Summary of Economic Assumptions - Pension Plan (Detail) - Pension plan [member] | Dec. 31, 2020 | Dec. 31, 2019 |
Summary of economic assumptions [line items] | ||
Discount rate | 4.25% | 6.50% |
Expected rate of salary increases | 3.00% | 3.00% |
Inflation rate | 3.00% | 3.00% |
Provisions - Schedule of Pensio
Provisions - Schedule of Pension Plan Balances Movements (Detail) - Pension plan [member] - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Provisions [line items] | ||
Beginning balance | $ 35,166 | $ 30,908 |
Interest expense on obligation | 1,911 | 2,120 |
Payments | (3,260) | (3,768) |
Actuarial losses (gains) | 885 | 4,512 |
Exchange differences | (3,171) | 1,394 |
Ending balance | $ 31,531 | $ 35,166 |
Provisions - Summary of Econo_3
Provisions - Summary of Economic Assumptions- Retroactive Unemployment Plan (Detail) - Retroactive unemployment plan [member] | Dec. 31, 2020 | Dec. 31, 2019 |
Provisions [line items] | ||
Discount rate | 4.25% | 5.50% |
Expected rate of salary increases | 4.50% | 5.50% |
Inflation rate | 3.00% | 3.00% |
Provisions - Schedule of Change
Provisions - Schedule of Changes in Provision - Severance (Detail) - Retroactive unemployment plan [member] - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of defined benefit plans [line items] | ||
Beginning balance | $ 334 | $ 373 |
Current services costs | 87 | 136 |
Interest expense on obligations | 15 | 21 |
Actuarial gains | (29) | (113) |
Payments of benefits | (80) | (108) |
Exchange differences | (31) | 25 |
Ending balance | $ 296 | $ 334 |
Provisions - Summary of Econo_4
Provisions - Summary of Economic Assumptions- Retirement Bonus Plan (Detail) - Retirements bonus plan [member] | Dec. 31, 2020 | Dec. 31, 2019 |
Summary of economic assumptions [line items] | ||
Summary of economic hypothesis Discount rate(s) | 5.50% | 6.50% |
Expected rate(s) of salary increase | 4.00% | 5.00% |
Inflation rate | 3.00% | 3.00% |
Provisions - Schedule of Chan_2
Provisions - Schedule of Changes in Provision - Retirement Benefit Plan (Detail) - Retirements bonus plan [member] - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of defined benefit plans [line items] | ||
Beginning balance | $ 687 | $ 542 |
Current service costs | 46 | |
Interest expense on obligation | 39 | 81 |
Actuarial (gains) losses | (13) | 33 |
Payments of benefits | (7) | (6) |
Exchange differences | (63) | 37 |
Ending balance | $ 689 | $ 687 |
Provisions - Schedule of Summar
Provisions - Schedule of Summary Effects in Other Comprehensive Income (Detail) - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Pension plan [member] | |||
Disclosure of Provisions [line items] | |||
Total loss | $ 885 | $ (4,512) | $ (698) |
Retroactive unemployment plan [member] | |||
Disclosure of Provisions [line items] | |||
Total loss | (29) | 113 | (32) |
Retirements bonus plan [member] | |||
Disclosure of Provisions [line items] | |||
Total loss | 33 | (33) | (24) |
Long-term employee benefits [member] | |||
Disclosure of Provisions [line items] | |||
Total loss | $ 889 | $ (4,432) | $ (754) |
Provisions - Schedule of Future
Provisions - Schedule of Future Payments (Detail) - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Long-term employee benefits [member] | 1 year [member] | ||
Disclosure of defined benefit plans [line items] | ||
Expected future payments | $ 953 | $ 948 |
Long-term employee benefits [member] | Due within 1 and 2 Year [member] | ||
Disclosure of defined benefit plans [line items] | ||
Expected future payments | 1,105 | 1,058 |
Long-term employee benefits [member] | 2 year [member] | ||
Disclosure of defined benefit plans [line items] | ||
Expected future payments | 1,105 | 1,250 |
Long-term employee benefits [member] | 3 year [member] | ||
Disclosure of defined benefit plans [line items] | ||
Expected future payments | 877 | 1,245 |
Long-term employee benefits [member] | 4 year [member] | ||
Disclosure of defined benefit plans [line items] | ||
Expected future payments | 786 | 915 |
Long-term employee benefits [member] | Later than five years [member] | ||
Disclosure of defined benefit plans [line items] | ||
Expected future payments | 4,612 | 5,134 |
Pension plan [member] | 1 year [member] | ||
Disclosure of defined benefit plans [line items] | ||
Expected future payments | 2,614 | 3,116 |
Pension plan [member] | Due within 1 and 2 Year [member] | ||
Disclosure of defined benefit plans [line items] | ||
Expected future payments | 2,471 | 2,960 |
Pension plan [member] | 2 year [member] | ||
Disclosure of defined benefit plans [line items] | ||
Expected future payments | 2,410 | 2,793 |
Pension plan [member] | 3 year [member] | ||
Disclosure of defined benefit plans [line items] | ||
Expected future payments | 2,388 | 2,725 |
Pension plan [member] | 4 year [member] | ||
Disclosure of defined benefit plans [line items] | ||
Expected future payments | 2,360 | 2,698 |
Pension plan [member] | Later than five years [member] | ||
Disclosure of defined benefit plans [line items] | ||
Expected future payments | 11,161 | 12,844 |
Retroactive unemployment plan [member] | 1 year [member] | ||
Disclosure of defined benefit plans [line items] | ||
Expected future payments | 65 | 69 |
Retroactive unemployment plan [member] | Due within 1 and 2 Year [member] | ||
Disclosure of defined benefit plans [line items] | ||
Expected future payments | 56 | 16 |
Retroactive unemployment plan [member] | 2 year [member] | ||
Disclosure of defined benefit plans [line items] | ||
Expected future payments | 66 | 70 |
Retroactive unemployment plan [member] | 3 year [member] | ||
Disclosure of defined benefit plans [line items] | ||
Expected future payments | 29 | 77 |
Retroactive unemployment plan [member] | 4 year [member] | ||
Disclosure of defined benefit plans [line items] | ||
Expected future payments | 15 | 29 |
Retroactive unemployment plan [member] | Later than five years [member] | ||
Disclosure of defined benefit plans [line items] | ||
Expected future payments | 43 | 71 |
Retirement Bonus Plan [member] | 1 year [member] | ||
Disclosure of defined benefit plans [line items] | ||
Expected future payments | 72 | 64 |
Retirement Bonus Plan [member] | Due within 1 and 2 Year [member] | ||
Disclosure of defined benefit plans [line items] | ||
Expected future payments | 42 | 28 |
Retirement Bonus Plan [member] | 2 year [member] | ||
Disclosure of defined benefit plans [line items] | ||
Expected future payments | 48 | 47 |
Retirement Bonus Plan [member] | 3 year [member] | ||
Disclosure of defined benefit plans [line items] | ||
Expected future payments | 38 | 50 |
Retirement Bonus Plan [member] | 4 year [member] | ||
Disclosure of defined benefit plans [line items] | ||
Expected future payments | 40 | 42 |
Retirement Bonus Plan [member] | Later than five years [member] | ||
Disclosure of defined benefit plans [line items] | ||
Expected future payments | $ 197 | $ 222 |
Other Liabilities and Liabili_3
Other Liabilities and Liabilities Directly Associated With Non-Current Assets Held for Sale - Schedule of Other Liabilities (Detail) - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Other liabilities and liabilities directly associated with non current assets held for sale [abstract] | ||
Accounts and notes payable | $ 310,713 | $ 382,271 |
Dividends payable | 246 | 267 |
Unearned income | 5,946 | 5,644 |
Valuation adjustment for hedge accounting | 7,690 | 8,321 |
Payables due to brokerage transactions | 24,572 | 140,799 |
Collateral for financial transactions (threshold) | 308,674 | 116,654 |
Other liabilities | 42,193 | 54,958 |
Totals | $ 700,034 | $ 708,914 |
Other Liabilities and Liabili_4
Other Liabilities and Liabilities Directly Associated With Non-Current Assets Held for Sale - Schedule of Other Liabilities Other (Detail) $ in Millions | 12 Months Ended |
Dec. 31, 2018CLP ($) | |
Other liabilities and liabilities directly associated with non current assets held for sale [abstract] | |
Penalty fee | $ 1,616 |
Other Liabilities and Liabili_5
Other Liabilities and Liabilities Directly Associated With Non-Current Assets Held for Sale - Additional Information (Detail) - CLP ($) | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of other liabilities and liabilities directly associated with noncurrent assets held for sale [line items] | ||
Other liabilities | $ 700,034,000,000 | $ 708,914,000,000 |
Non-current assets held for sale [member] | ||
Disclosure of other liabilities and liabilities directly associated with noncurrent assets held for sale [line items] | ||
Other liabilities | $ 0 | $ 0 |
Contingencies, Commitments and
Contingencies, Commitments and Responsibilities - Additional Information (Detail) $ / shares in Units, $ in Thousands | Nov. 05, 2019 | Dec. 31, 2020USD ($)loan$ / shares | Dec. 31, 2020CLP ($)loan | Dec. 31, 2019CLP ($) | Dec. 31, 2020HUF (Ft)shares | Dec. 31, 2020CLP ($)shares | Apr. 09, 2020HUF (Ft) | Nov. 22, 2017USD ($) | Nov. 22, 2017CLP ($) |
Disclosure of contingent liabilities in business combination [line items] | |||||||||
Provision for lawsuits and legal proceedings | $ 280,000 | $ 545,000 | |||||||
Amount of pledged shares to secure Obligations related to transactions carried out with other brokers | $ 5,325,000 | 18,479,000 | |||||||
Guarantee in cash and financial assets ceded to guarantee transactions | $ 5,988,000 | 9,067,000 | |||||||
Guarantee ticket amount | Ft | Ft 10,000 | Ft 10,000 | |||||||
Foreign traders guarantee amount | $ 100,000 | $ 71 | |||||||
Guarantee expiration date | Jun. 22, 2021 | Jun. 22, 2021 | |||||||
Number of loans endorsed | loan | 162 | 162 | |||||||
Principal amount of the loans guaranteed | 1,766,997,000 | ||||||||
Amount of available for sale securities endorsed as guarantee | $ 319,213,000 | ||||||||
MCC S.A. Corredores de Bolsa [member] | |||||||||
Disclosure of contingent liabilities in business combination [line items] | |||||||||
Percentage of voting equity interests acquired | 100.00% | 100.00% | |||||||
Itaú Corredor de Seguros Colombia S.A [Member] | |||||||||
Disclosure of contingent liabilities in business combination [line items] | |||||||||
Percentage of ownership interest acquired | 20.00% | ||||||||
Banco Corpbanca Colombia [member] | |||||||||
Disclosure of contingent liabilities in business combination [line items] | |||||||||
Percentage of shares outstanding | 12.36% | 12.36% | |||||||
Number of shares acquired | shares | 93,306,684 | 93,306,684 | |||||||
Purchase price per share | $ / shares | $ 3.5367 | ||||||||
Value of shares purchased | $ 329,997,749.30 | ||||||||
Spread on variable interest rate | 2.70% | 2.70% | |||||||
Itau Corpbanca Colombia S.A. [member] | |||||||||
Disclosure of contingent liabilities in business combination [line items] | |||||||||
Provision for lawsuits and legal proceedings | 141,000 | $ 94,000 | |||||||
Aggregate legal claims | 38,503,000 | 35,043,000 | |||||||
Top of Range [Member] | |||||||||
Disclosure of contingent liabilities in business combination [line items] | |||||||||
Provision for lawsuits and legal proceedings | $ 22,207,000 | $ 22,737,000 |
Contingencies, Commitments an_2
Contingencies, Commitments and Responsibilities - Schedule of Bank and Its Subsidiaries are Contractually Obliged to Grant Loans (Detail) - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of contingent liabilities in business combination [line items] | |||
Provisions | $ 135,090 | $ 177,827 | $ 214,903 |
Bank And Subsidiaries Liabilities [Member] | |||
Disclosure of contingent liabilities in business combination [line items] | |||
Contingent loans | 5,393,860 | 5,940,086 | |
Contingent liability for guarantees [member] | |||
Disclosure of contingent liabilities in business combination [line items] | |||
Contingent loans | 437,396 | 548,521 | |
Contingent liability for confirmes foreign letters of credit [member] | |||
Disclosure of contingent liabilities in business combination [line items] | |||
Contingent loans | 2,207 | 509 | |
Letters of credit issued [member] | |||
Disclosure of contingent liabilities in business combination [line items] | |||
Contingent loans | 136,561 | 97,553 | |
Documented guarantees [member] | |||
Disclosure of contingent liabilities in business combination [line items] | |||
Contingent loans | 1,407,102 | 1,501,957 | |
Available on demand credit lines [member] | |||
Disclosure of contingent liabilities in business combination [line items] | |||
Contingent loans | 2,656,219 | 2,623,744 | |
Contingent liability for other credit commitments [member] | |||
Disclosure of contingent liabilities in business combination [line items] | |||
Contingent loans | $ 754,375 | $ 1,167,802 |
Contingencies, Commitments an_3
Contingencies, Commitments and Responsibilities - Schedule of Responsibilities Arising From the Regular Course of Business (Detail) - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Third party operations | ||
Collections | $ 16,540 | $ 17,985 |
Transferred financial assets managed by the Bank | 1,183,053 | 1,200,155 |
Third party funds under management | 2,541,495 | |
Subtotals | 1,199,593 | 3,759,635 |
Custody of securities | ||
Securities held in custody | 2,269,967 | 5,229,078 |
Securities held in custody deposited in other entities | 259 | |
Securities issued by the Bank held in custody | 105,585 | 131,648 |
Subtotals | 2,375,811 | 5,360,726 |
Totals | $ 3,575,404 | $ 9,120,361 |
Contingencies, Commitments an_4
Contingencies, Commitments and Responsibilities - Schedule of Damages That May Be Incurred By Insured Parties that Contract Policies (Detail) - Consorcio Nacionalde SegurosSA [Member] | 12 Months Ended |
Dec. 31, 2020HUF (Ft) | |
Disclosure of subsidiaries [line items] | |
From date | Apr. 15, 2020 |
End date | Apr. 14, 2021 |
Amount (UF) | Ft 60,000 |
Amount (UF) | Ft 500 |
Contingencies, Commitments an_5
Contingencies, Commitments and Responsibilities - Schedule of Performance Bond (Detail) | 12 Months Ended |
Dec. 31, 2020HUF (Ft) | |
Itau Chile [member] | |
Disclosure of subsidiaries [line items] | |
From | Apr. 22, 2020 |
To | Apr. 22, 2021 |
Amount (UF) | Ft 16,000 |
Mapfre Compania De Seguros SA [member] | |
Disclosure of subsidiaries [line items] | |
From | Apr. 22, 2020 |
To | Apr. 22, 2022 |
Amount (UF) | Ft 4,000 |
Itau chile1 [member] | |
Disclosure of subsidiaries [line items] | |
From | Apr. 22, 2020 |
To | Jun. 22, 2021 |
Amount (UF) | Ft 10,000 |
Contingencies, Commitments an_6
Contingencies, Commitments and Responsibilities - Schedule of Comprehensive Insurance Policy (Detail) - Orion Seguros Generales S.A. [member] | 12 Months Ended |
Dec. 31, 2020HUF (Ft) | |
Disclosure of subsidiaries [line items] | |
From | Jun. 26, 2020 |
To | May 31, 2021 |
Amount (UF) | Ft 5,000 |
Amount (UF) | Ft 10,000 |
Contingencies, Commitments an_7
Contingencies, Commitments and Responsibilities - Schedule of Guarantee Slips and Beneficiaries (Detail) - 12 months ended Dec. 31, 2020 $ in Millions | HUF (Ft) | CLP ($) |
Banco Santander Chile [member] | ||
Disclosure of subsidiaries [line items] | ||
From date | Jun. 2, 2017 | |
End date | Aug. 31, 2021 | |
Amount | Ft 15,000 | |
Banco Santander Chile [member] | ||
Disclosure of subsidiaries [line items] | ||
From date | Aug. 14, 2017 | |
End date | Aug. 30, 2021 | |
Amount | Ft 500 | |
Itaú Corpbanca Chile [member] | ||
Disclosure of subsidiaries [line items] | ||
From date | Jul. 2, 2020 | |
End date | Jul. 1, 2021 | |
Amount | $ | $ 50 |
Equity - Schedule of Paid in Ca
Equity - Schedule of Paid in Capital of the Bank (Detail) - shares | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Equity note[abstract] | |||
Beginning Balance | 512,406,760,091 | 512,406,760,091 | 512,406,760,091 |
Issuance of shares pending payment | 0 | 0 | 0 |
Repurchase of own shares | 0 | 0 | 0 |
Sale of own shares | 0 | 0 | 0 |
Ending Balance | 512,406,760,091 | 512,406,760,091 | 512,406,760,091 |
Equity - Additional Information
Equity - Additional Information (Detail) - CLP ($) $ in Millions | 12 Months Ended | ||||||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Jan. 01, 2020 | Jan. 01, 2019 | Jan. 01, 2018 | Dec. 31, 2017 | |
Disclosure of equity [line items] | |||||||
Equity | $ 1,862,826 | $ 1,862,826 | $ 1,862,826 | ||||
Number of share outstanding | 512,406,760,091 | 512,406,760,091 | 512,406,760,091 | 512,406,760,091 | |||
Percentage of dividend on profit | 30.00% | 30.00% | 30.00% | ||||
Percentage of actual dividends on profit | 100.00% | ||||||
Distribution of dividends | $ 127,065 | $ 51,614 | |||||
Equity | $ 2,383,335 | 3,326,338 | 3,437,560 | $ 3,326,338 | $ 3,437,560 | $ 3,428,757 | |
Retained earnings from prior years | (37,533) | 50,362 | |||||
Other equity interest [member] | |||||||
Disclosure of equity [line items] | |||||||
Equity | 744,838 | 744,838 | 839,120 | 744,838 | 839,120 | 839,120 | |
Revaluation surplus [member] | |||||||
Disclosure of equity [line items] | |||||||
Equity | $ 451,011 | $ 451,011 | $ 451,011 | $ 451,011 | $ 451,011 | $ 451,011 |
Equity - Schedule of Shareholde
Equity - Schedule of Shareholder List (Detail) - shares | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure of transactions between related parties [line items] | ||||
Number of shares | 512,406,760,091 | 512,406,760,091 | 512,406,760,091 | 512,406,760,091 |
Percentage of equity holding | 100.00% | 100.00% | 100.00% | |
Itau Unibanco [member] | ||||
Disclosure of transactions between related parties [line items] | ||||
Number of shares | 200,966,823,626 | 195,408,043,473 | 195,408,043,473 | |
Percentage of equity holding | 39.22% | 38.14% | 38.14% | |
Itau Unibanco Holding S A [member] | ||||
Disclosure of transactions between related parties [line items] | ||||
Number of shares | 115,039,610,411 | 115,039,610,411 | 115,039,610,411 | |
Percentage of equity holding | 22.45% | 22.45% | 22.45% | |
ITB Holding Brasil Participacoes Ltda. [Member] | ||||
Disclosure of transactions between related parties [line items] | ||||
Number of shares | 62,567,655,359 | 57,008,875,206 | 57,008,875,206 | |
Percentage of equity holding | 12.21% | 11.13% | 11.13% | |
CGB II SpA [member] | ||||
Disclosure of transactions between related parties [line items] | ||||
Number of shares | 10,908,002,836 | 10,908,002,836 | 10,908,002,836 | |
Percentage of equity holding | 2.13% | 2.13% | 2.13% | |
CGB III SpA [member] | ||||
Disclosure of transactions between related parties [line items] | ||||
Number of shares | 1,800,000,000 | 1,800,000,000 | 1,800,000,000 | |
Percentage of equity holding | 0.35% | 0.35% | 0.35% | |
Saga II SpA [member] | ||||
Disclosure of transactions between related parties [line items] | ||||
Number of shares | 7,000,000,000 | 7,000,000,000 | 7,000,000,000 | |
Percentage of equity holding | 1.37% | 1.37% | 1.37% | |
Saga III SpA [member] | ||||
Disclosure of transactions between related parties [line items] | ||||
Number of shares | 3,651,555,020 | 3,651,555,020 | 3,651,555,020 | |
Percentage of equity holding | 0.71% | 0.71% | 0.71% | |
Saieh Family [member] | ||||
Disclosure of transactions between related parties [line items] | ||||
Number of shares | 140,835,760,455 | 146,394,540,608 | 146,394,540,608 | |
Percentage of equity holding | 27.49% | 28.57% | 28.57% | |
Corp Group Banking SA [member] | ||||
Disclosure of transactions between related parties [line items] | ||||
Number of shares | 136,127,850,073 | 136,127,850,073 | 136,127,850,073 | |
Percentage of equity holding | 26.57% | 26.57% | 26.57% | |
Compniua Inmobiliaria y de Inversiones Saga SpA [member] | ||||
Disclosure of transactions between related parties [line items] | ||||
Number of shares | 4,707,910,382 | 10,266,690,535 | 10,266,690,535 | |
Percentage of equity holding | 0.92% | 2.00% | 2.00% | |
International Finance Corporation [member] | ||||
Disclosure of transactions between related parties [line items] | ||||
Number of shares | 17,017,909,711 | 17,017,909,711 | 17,017,909,711 | |
Percentage of equity holding | 3.32% | 3.32% | 3.32% | |
Others [member] | ||||
Disclosure of transactions between related parties [line items] | ||||
Number of shares | 153,586,266,299 | 153,586,266,299 | 153,586,266,299 | |
Percentage of equity holding | 29.97% | 29.97% | 29.97% | |
Stock brokers [member] | ||||
Disclosure of transactions between related parties [line items] | ||||
Number of shares | 80,382,817,848 | 63,397,824,244 | 55,791,614,655 | |
Percentage of equity holding | 15.69% | 12.37% | 10.89% | |
ADR holders and foreign investors [member] | ||||
Disclosure of transactions between related parties [line items] | ||||
Number of shares | 35,127,077,810 | 50,376,882,652 | 42,838,887,354 | |
Percentage of equity holding | 6.86% | 9.83% | 8.36% | |
Local Institutional Investors [Member] | ||||
Disclosure of transactions between related parties [line items] | ||||
Number of shares | 25,351,261,131 | 27,989,426,434 | 26,979,482,570 | |
Percentage of equity holding | 4.95% | 5.46% | 5.26% | |
Santo Domingo Group [member] | ||||
Disclosure of transactions between related parties [line items] | ||||
Number of shares | 11,822,132,969 | 9,817,092,180 | ||
Percentage of equity holding | 2.31% | 1.92% | ||
Other minority shareholders [member] | ||||
Disclosure of transactions between related parties [line items] | ||||
Number of shares | 12,725,109,510 | 18,159,189,540 | ||
Percentage of equity holding | 2.47% | 3.54% |
Equity - Schedule of Sharehol_2
Equity - Schedule of Shareholder List Other (Detail) - shares | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure of transactions between related parties [line items] | ||||
Number of shares outstanding | 512,406,760,091 | 512,406,760,091 | 512,406,760,091 | 512,406,760,091 |
Shares In Custody [Member] | ||||
Disclosure of transactions between related parties [line items] | ||||
Number of shares outstanding | 1,005,897,850 |
Equity - Schedule of Distributi
Equity - Schedule of Distribution of Dividends (Detail) - CLP ($) $ / shares in Units, $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of equity [line items] | |||
Income attributable to equity holders | $ (808,784) | $ 113,684 | $ 171,331 |
Allocated to reserves and retained earnings | 120,433 | ||
Allocated to dividends | $ 127,065 | $ 51,614 | |
Percentage distributed | 100.00% | 30.00% | |
Number of shares | 512,406,760,091 | 512,406,760,091 | |
Dividend per share | $ 0.24798 | $ 0.10073 | |
Company A [Member] | |||
Disclosure of equity [line items] | |||
Income attributable to equity holders | $ 127,065 | $ 172,047 |
Equity - Schedule of Attributab
Equity - Schedule of Attributable to the Equity Holders of the Bank (Detail) - CLP ($) $ / shares in Units, shares in Millions, $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Diluted earnings per share | |||
Net income for the period | $ (808,784) | $ 113,684 | $ 171,331 |
Weighted average number of outstanding shares | 512,407 | 512,407 | 512,407 |
Dilutive effects | |||
Assumed convertible debt conversion | 0 | 0 | 0 |
Conversion of common shares | 0 | 0 | 0 |
Options rights | 0 | 0 | 0 |
Adjusted number of shares | 512,407 | 512,407 | 512,407 |
Diluted earnings per share (Chilean pesos) | $ (1.578) | $ 0.222 | $ 0.334 |
Net income for the period | $ (808,784) | $ 113,684 | $ 171,331 |
Weighted average number of outstanding shares | 512,407 | 512,407 | 512,407 |
Assumed convertible debt conversion | 0 | 0 | 0 |
Adjusted number of outstanding shares | 512,407 | 512,407 | 512,407 |
Basic earnings per share (Chilean pesos) | $ (1.578) | $ 0.222 | $ 0.334 |
Equity - Schedule of Equity and
Equity - Schedule of Equity and Income Taxes Attributable to the Equity Holders (Detail) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020CLP ($) | Dec. 31, 2019CLP ($) | Dec. 31, 2018CLP ($) | |
Disclosure of available for sale financial assets [line items] | |||
Other comprehensive income (loss) before income taxes, beginning balance | $ 51,862 | $ 30,400 | $ 15,382 |
Effects for the period | 3,102 | 21,637 | |
Transfer of gain on disposal of equity investments at fair value through other comprehensive income to retained earnings | (377) | (175) | |
Other comprehensive income (loss) before income taxes, ending balance | 54,587 | 51,862 | 30,400 |
Income taxes related to components of other comprehensive income (loss) | |||
Income taxes related to components of other comprehensive income (loss), beginning balance | (4,745) | (14,241) | (20,117) |
Effects for the period | (23,018) | 9,496 | 6,375 |
Income taxes related to components of other comprehensive income (loss), ending balance | (27,763) | (4,745) | (14,241) |
Net balances | 26,824 | 47,117 | 16,159 |
Net balance | 47,117 | ||
Increase (decrease) due to changes in accounting policy required by IFRSs [member] | |||
Disclosure of available for sale financial assets [line items] | |||
Other comprehensive income (loss) before income taxes, beginning balance | 1,496 | ||
Income taxes related to components of other comprehensive income (loss) | |||
Income taxes related to components of other comprehensive income (loss), beginning balance | (499) | ||
Revised For IFRS 9 [member] | |||
Disclosure of available for sale financial assets [line items] | |||
Other comprehensive income (loss) before income taxes, beginning balance | 16,878 | ||
Effects for the period | 13,522 | ||
Income taxes related to components of other comprehensive income (loss) | |||
Income taxes related to components of other comprehensive income (loss), beginning balance | (20,616) | ||
Investments in equity instruments designated at fair value through other comprehensive income [member] | |||
Disclosure of available for sale financial assets [line items] | |||
Other comprehensive income (loss) before income taxes, beginning balance | 37,484 | 16,459 | 16,592 |
Effects for the period | 21,025 | ||
Other comprehensive income (loss) before income taxes, ending balance | 37,484 | 16,459 | |
Income taxes related to components of other comprehensive income (loss) | |||
Income taxes related to components of other comprehensive income (loss), beginning balance | (12,705) | (6,904) | (4,937) |
Effects for the period | (5,801) | (1,468) | |
Income taxes related to components of other comprehensive income (loss), ending balance | (12,705) | (6,904) | |
Net balances | 9,555 | ||
Net balance | 24,779 | ||
Investments in equity instruments designated at fair value through other comprehensive income [member] | Increase (decrease) due to changes in accounting policy required by IFRSs [member] | |||
Disclosure of available for sale financial assets [line items] | |||
Other comprehensive income (loss) before income taxes, beginning balance | 481 | ||
Income taxes related to components of other comprehensive income (loss) | |||
Income taxes related to components of other comprehensive income (loss), beginning balance | (499) | ||
Investments in equity instruments designated at fair value through other comprehensive income [member] | Revised For IFRS 9 [member] | |||
Disclosure of available for sale financial assets [line items] | |||
Other comprehensive income (loss) before income taxes, beginning balance | 17,073 | ||
Effects for the period | (614) | ||
Income taxes related to components of other comprehensive income (loss) | |||
Income taxes related to components of other comprehensive income (loss), beginning balance | (5,436) | ||
Reserve of cash flow hedges [member] | |||
Disclosure of available for sale financial assets [line items] | |||
Other comprehensive income (loss) before income taxes, beginning balance | (822) | 5,559 | (5,730) |
Effects for the period | (7,799) | (6,381) | |
Other comprehensive income (loss) before income taxes, ending balance | (8,621) | (822) | 5,559 |
Income taxes related to components of other comprehensive income (loss) | |||
Income taxes related to components of other comprehensive income (loss), beginning balance | (465) | (280) | 1,389 |
Effects for the period | (1,602) | (185) | (1,669) |
Income taxes related to components of other comprehensive income (loss), ending balance | (2,067) | (465) | (280) |
Net balances | (10,688) | 5,279 | |
Net balance | (1,287) | ||
Reserve of cash flow hedges [member] | Revised For IFRS 9 [member] | |||
Disclosure of available for sale financial assets [line items] | |||
Other comprehensive income (loss) before income taxes, beginning balance | (5,730) | ||
Effects for the period | 11,289 | ||
Income taxes related to components of other comprehensive income (loss) | |||
Income taxes related to components of other comprehensive income (loss), beginning balance | 1,389 | ||
Hedges of net investment in foreign operations [member] | |||
Disclosure of available for sale financial assets [line items] | |||
Other comprehensive income (loss) before income taxes, beginning balance | (17,383) | 29,403 | 64,741 |
Effects for the period | 80,722 | (46,786) | |
Other comprehensive income (loss) before income taxes, ending balance | 63,339 | (17,383) | 29,403 |
Income taxes related to components of other comprehensive income (loss) | |||
Income taxes related to components of other comprehensive income (loss), beginning balance | 6,627 | (7,746) | (17,287) |
Effects for the period | (21,795) | 14,373 | 9,541 |
Income taxes related to components of other comprehensive income (loss), ending balance | (15,168) | 6,627 | (7,746) |
Net balances | 48,171 | 21,657 | |
Net balance | (10,756) | ||
Hedges of net investment in foreign operations [member] | Revised For IFRS 9 [member] | |||
Disclosure of available for sale financial assets [line items] | |||
Other comprehensive income (loss) before income taxes, beginning balance | 64,741 | ||
Effects for the period | (35,338) | ||
Income taxes related to components of other comprehensive income (loss) | |||
Income taxes related to components of other comprehensive income (loss), beginning balance | (17,287) | ||
Reserve of exchange differences on translation [member] | |||
Disclosure of available for sale financial assets [line items] | |||
Other comprehensive income (loss) before income taxes, beginning balance | 37,328 | (19,119) | (57,485) |
Effects for the period | (64,169) | 56,487 | |
Transfer of gain on disposal of equity investments at fair value through other comprehensive income to retained earnings | 12 | (40) | |
Other comprehensive income (loss) before income taxes, ending balance | (26,829) | 37,328 | (19,119) |
Income taxes related to components of other comprehensive income (loss) | |||
Net balances | (26,829) | (19,119) | |
Net balance | 37,328 | ||
Reserve of exchange differences on translation [member] | Revised For IFRS 9 [member] | |||
Disclosure of available for sale financial assets [line items] | |||
Other comprehensive income (loss) before income taxes, beginning balance | (57,485) | ||
Effects for the period | 38,366 | ||
Reserve of remeasurements of defined benefit plans [member] | |||
Disclosure of available for sale financial assets [line items] | |||
Other comprehensive income (loss) before income taxes, beginning balance | (6,484) | (3,236) | (2,736) |
Effects for the period | (1,632) | (3,248) | |
Other comprehensive income (loss) before income taxes, ending balance | (8,116) | (6,484) | (3,236) |
Income taxes related to components of other comprehensive income (loss) | |||
Income taxes related to components of other comprehensive income (loss), beginning balance | 1,798 | 689 | 718 |
Effects for the period | 434 | 1,109 | (29) |
Income taxes related to components of other comprehensive income (loss), ending balance | 2,232 | 1,798 | 689 |
Net balances | (5,884) | (2,547) | |
Net balance | (4,686) | ||
Reserve of remeasurements of defined benefit plans [member] | Revised For IFRS 9 [member] | |||
Disclosure of available for sale financial assets [line items] | |||
Other comprehensive income (loss) before income taxes, beginning balance | (2,736) | ||
Effects for the period | (500) | ||
Income taxes related to components of other comprehensive income (loss) | |||
Income taxes related to components of other comprehensive income (loss), beginning balance | 718 | ||
Reserve of gains and losses on financial assets and liabilities measured at fair value through other comprehensive income [member] | |||
Disclosure of available for sale financial assets [line items] | |||
Other comprehensive income (loss) before income taxes, beginning balance | 1,739 | 1,334 | |
Effects for the period | 310 | 540 | |
Transfer of gain on disposal of equity investments at fair value through other comprehensive income to retained earnings | (389) | (135) | |
Other comprehensive income (loss) before income taxes, ending balance | 1,660 | 1,739 | 1,334 |
Income taxes related to components of other comprehensive income (loss) | |||
Net balances | 1,660 | 1,334 | |
Net balance | 1,739 | ||
Reserve of gains and losses on financial assets and liabilities measured at fair value through other comprehensive income [member] | Increase (decrease) due to changes in accounting policy required by IFRSs [member] | |||
Disclosure of available for sale financial assets [line items] | |||
Other comprehensive income (loss) before income taxes, beginning balance | 1,015 | ||
Reserve of gains and losses on financial assets and liabilities measured at fair value through other comprehensive income [member] | Revised For IFRS 9 [member] | |||
Disclosure of available for sale financial assets [line items] | |||
Other comprehensive income (loss) before income taxes, beginning balance | 1,015 | ||
Effects for the period | $ 319 | ||
Reserve of gains and losses on remeasuring available-for-sale financial assets [member] | |||
Disclosure of available for sale financial assets [line items] | |||
Other comprehensive income (loss) before income taxes, beginning balance | 37,484 | ||
Effects for the period | (4,330) | ||
Other comprehensive income (loss) before income taxes, ending balance | 33,154 | 37,484 | |
Income taxes related to components of other comprehensive income (loss) | |||
Income taxes related to components of other comprehensive income (loss), beginning balance | (12,705) | ||
Effects for the period | (55) | ||
Income taxes related to components of other comprehensive income (loss), ending balance | (12,760) | $ (12,705) | |
Net balances | $ 20,394 |
Equity - Schedule of Non-contro
Equity - Schedule of Non-controlling Interest in the Subsidiary's Equity and Profit (Detail) - CLP ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of available for sale financial assets [line items] | ||||
Equity | $ 69,087 | $ 94,445 | $ 218,082 | $ 217,280 |
Net income | (17,371) | 10,838 | (4,477) | |
Financial instruments at fair value through other comprehensive income | (8,235) | 21,703 | (1,441) | |
Exchange differences | (71,771) | 73,855 | 48,610 | |
Defined benefit obligation | (3) | (4,432) | (754) | |
Deferred Tax | (23,018) | 9,496 | 6,375 | |
Comprehensive income | (25,358) | 27,894 | 3,959 | |
Debt instruments issued | $ 6,204,856 | $ 6,408,356 | ||
Itau Corredores de Seguros S.A [member] | ||||
Disclosure of available for sale financial assets [line items] | ||||
Non-controlling | 100.00% | 100.00% | ||
Helm Corredor de Seguros S.A. [member] | ||||
Disclosure of available for sale financial assets [line items] | ||||
Non-controlling | 79.985% | 79.985% | ||
Itau Chile Administradora General de Fondos S.A. [member] | ||||
Disclosure of available for sale financial assets [line items] | ||||
Non-controlling | 100.00% | 100.00% | ||
Non controlling Interest [Member] | ||||
Disclosure of available for sale financial assets [line items] | ||||
Equity | $ 69,087 | $ 94,445 | ||
Net income | (17,371) | 10,838 | ||
Financial instruments at fair value through other comprehensive income | (3,905) | 952 | ||
Financial instruments at fair value through other comprehensive income | (3,859) | 678 | ||
Available for sale investments | $ (827) | |||
Exchange differences | (7,602) | 17,368 | ||
Cash Flow hedges | 2,117 | (411) | ||
Defined benefit obligation | 1,629 | (1,184) | ||
Deferred Tax | (272) | 331 | ||
Other comprehensive income | (7,987) | 17,056 | ||
Comprehensive income | $ (25,358) | $ 27,894 | ||
Non controlling Interest [Member] | Itau Corredores de Seguros Colombia S.A. [member] | ||||
Disclosure of available for sale financial assets [line items] | ||||
Non-controlling | 20.20% | 20.20% | ||
Equity | $ 404 | $ 478 | ||
Net income | (33) | 125 | ||
Comprehensive income | $ (33) | $ 125 | ||
Non controlling Interest [Member] | Itau Corpbanca Colombia S.A. y filiales [member] | ||||
Disclosure of available for sale financial assets [line items] | ||||
Non-controlling | 12.90% | 20.20% | ||
Equity | $ 68,683 | $ 409 | ||
Net income | (17,338) | 15 | ||
Financial instruments at fair value through other comprehensive income | (3,859) | |||
Exchange differences | (7,602) | |||
Cash Flow hedges | 2,117 | |||
Defined benefit obligation | 1,629 | |||
Deferred Tax | (272) | |||
Other comprehensive income | (7,987) | |||
Comprehensive income | (25,325) | $ 15 | ||
Non controlling Interest [Member] | Itau Corredores de Seguros S.A [member] | ||||
Disclosure of available for sale financial assets [line items] | ||||
Non-controlling | 12.90% | 33.721% | ||
Equity | $ 93,967 | $ 217,673 | ||
Net income | 10,713 | (4,500) | ||
Financial instruments at fair value through other comprehensive income | 952 | (664) | ||
Exchange differences | 17,368 | 10,244 | ||
Effect hedge Accounting Foreign Investment | (1,195) | |||
Cash Flow hedges | (411) | |||
Defined benefit obligation | (1,184) | (254) | ||
Deferred Tax | 331 | 305 | ||
Other comprehensive income | 17,056 | 8,436 | ||
Comprehensive income | 27,769 | 3,936 | ||
Non controlling Interest [Member] | Itau Administradora General de Fondos S.A. [member] | ||||
Disclosure of available for sale financial assets [line items] | ||||
Net income | 8 | |||
Comprehensive income | 8 | |||
Non controlling Interest [Member] | Itau Corpbanca Corredores de Bolsa Limitada [member] | ||||
Disclosure of available for sale financial assets [line items] | ||||
Equity | 218,082 | |||
Net income | (4,477) | |||
Financial instruments at fair value through other comprehensive income | (664) | |||
Exchange differences | 10,244 | |||
Effect hedge Accounting Foreign Investment | (1,195) | |||
Defined benefit obligation | (254) | |||
Deferred Tax | 305 | |||
Other comprehensive income | 8,436 | |||
Comprehensive income | 3,959 | |||
Reserve of gains and losses on financial assets and liabilities measured at fair value through other comprehensive income [member] | ||||
Disclosure of available for sale financial assets [line items] | ||||
Equity | 52 | |||
Debt instruments issued | $ 3,807 | |||
Debt instrument losses | 678 | 827 | ||
Equity instrument gains | $ 274 | $ 163 |
Equity - Schedule of Non-cont_2
Equity - Schedule of Non-controlling Interest in the Subsidiary's Equity and Profit Other (Detail) - item | Dec. 03, 2019 | Dec. 10, 2018 | Sep. 10, 2018 | Jul. 04, 2018 |
Itau Corpbanca Colombia S.A. y filiales [member] | ||||
Disclosure of available for sale financial assets [line items] | ||||
Percentage of shares owned | 87.10% | |||
Itau Corredores de Seguros S.A [member] | ||||
Disclosure of available for sale financial assets [line items] | ||||
Number of shares acquired | 127,901,000,000 | |||
Percentage of shares owned | 100.00% | |||
Itau Administradora General de Fondos S.A. [member] | ||||
Disclosure of available for sale financial assets [line items] | ||||
Number of shares acquired | 1 | |||
Percentage of shares owned | 100.00% | |||
Itau Corpbanca Corredores de Bolsa Limitada [member] | ||||
Disclosure of available for sale financial assets [line items] | ||||
Number of shares acquired | 2 | |||
Percentage of shares owned | 100.00% |
Equity - Schedule of Non-cont_3
Equity - Schedule of Non-controlling Interest Movement (Detail) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of subsidiaries [line items] | |||
Beginning balance | $ 94,445 | $ 218,082 | $ 217,280 |
Increase participation in Colombia | (151,531) | ||
Comprehensive income | (25,358) | 27,894 | 3,959 |
Ending balance | 69,087 | 94,445 | 218,082 |
Increase (decrease) due to changes in accounting policy required by IFRSs [member] | |||
Disclosure of subsidiaries [line items] | |||
Beginning balance | (3,157) | ||
Revised For IFRS 9 [member] | |||
Disclosure of subsidiaries [line items] | |||
Beginning balance | $ 94,445 | 218,082 | 214,123 |
Ending balance | $ 94,445 | $ 218,082 |
Equity - Schedule of Main Subsi
Equity - Schedule of Main Subsidiary With Non-controlling Interest (Detail) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of subsidiaries [line items] | ||
Group participation | 12.90% | 12.90% |
Banco CorpBanca Colombia S.A [member] | ||
Disclosure of subsidiaries [line items] | ||
Group participation | 87.10% | 87.10% |
Equity - Schedule of Consolidat
Equity - Schedule of Consolidation Elimination Adjustments (Detail) - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Summary Statements of Financial Position | ||||
Total net assets (liabilities) | $ 2,383,335 | $ 3,326,338 | ||
Accumulated non-controlling interest | 69,087 | 94,445 | $ 218,082 | $ 217,280 |
Non controlling Interest [Member] | ||||
Summary Statements of Financial Position | ||||
Accumulated non-controlling interest | 69,087 | 94,445 | ||
Banco CorpBanca Colombia S.A [member] | Non controlling Interest [Member] | ||||
Summary Statements of Financial Position | ||||
Current assets | 5,177,419 | 5,383,819 | ||
Current liabilities | (3,184,281) | (3,112,252) | ||
Net current assets (liabilities) | 1,993,138 | 2,271,567 | ||
Non-current assets | 856,927 | 1,174,958 | ||
Non-current liabilities | (2,286,951) | (2,729,714) | ||
Net non-current assets (liabilities) | (1,430,024) | (1,554,756) | ||
Total net assets (liabilities) | 563,114 | 716,811 | ||
Accumulated non-controlling interest | $ 68,683 | $ 93,967 |
Equity - Summary of Income Stat
Equity - Summary of Income Statements (Detail) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of income statement [line items] | |||
Income of the period | $ 1,549,674 | $ 1,773,640 | $ 1,739,317 |
Non-controlling interests income | (826,155) | 124,522 | $ 166,854 |
Banco CorpBanca Colombia S.A [member] | Non controlling Interest [Member] | |||
Disclosure of income statement [line items] | |||
Interest and readjustments income (expense) | 418,477 | 528,150 | |
Income of the period | (101,498) | 16,490 | |
Non-controlling interests income | $ (17,338) | $ 10,713 |
Equity - Summary of Cash Flows
Equity - Summary of Cash Flows Statements (Detail) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of consolidated statement of cash flows [line items] | |||
Net cash flows provided by (used in) operating activities | $ 1,432,755 | $ 354,497 | $ 695,755 |
Net cash flows provided by (used in) investing activities | (66,306) | (315,627) | (41,874) |
Net cash flows provided by (used in) financing activities | 1,569,735 | (69,923) | (449,272) |
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 3,058,317 | 84,887 | $ 287,963 |
Banco CorpBanca Colombia S.A [member] | Non controlling Interest [Member] | |||
Disclosure of consolidated statement of cash flows [line items] | |||
Net cash flows provided by (used in) operating activities | (109,188) | (359,168) | |
Net cash flows provided by (used in) investing activities | 27,673 | 111,607 | |
Net cash flows provided by (used in) financing activities | 74,137 | 115,303 | |
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | $ (7,378) | $ (132,258) |
Equity - Schedule of Consolid_2
Equity - Schedule of Consolidated Comprehensive Income (Detail) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of subsidiaries [line items] | |||
Income | $ (826,155) | $ 124,522 | $ 166,854 |
Financial instruments at fair value through other comprehensive income | (8,235) | 21,703 | (1,441) |
Cash flow hedge | (5,682) | (6,792) | 11,289 |
Changes in the fair value of equity investments at fair value through other comprehensive income | 356 | 814 | 482 |
Net investment in foreign operations hedges | (21,795) | 14,373 | 10,565 |
TOTAL OTHER COMPREHENSIVE INCOME (LOSS) FOR THE YEAR | (27,903) | 48,189 | 28,333 |
Comprehensive income (loss) for the year | (854,058) | 172,711 | 195,187 |
Total Attributable to Equity Holders of the Bank [Member] | |||
Disclosure of subsidiaries [line items] | |||
Income | (808,784) | 113,684 | 171,331 |
Financial instruments at fair value through other comprehensive income | (4,330) | 21,025 | |
Available for sale investments | (614) | ||
Hedge of net investment in foreign operations | 80,722 | (46,786) | (35,338) |
Cash flow hedge | (7,799) | (6,381) | 11,289 |
Exchange differences | (64,169) | 56,487 | 38,366 |
Changes in the fair value of equity investments at fair value through other comprehensive income | 310 | 540 | 319 |
Defined benefits obligations | (1,632) | (3,248) | (500) |
Subtotals | 3,102 | 21,637 | 13,522 |
Financial instruments at fair value through other comprehensive income | (55) | (5,801) | |
Available for sale investments | (1,468) | ||
Net investment in foreign operations hedges | 14,373 | 9,541 | |
Hedge of net investment in foreign operations | (21,795) | ||
Cash flow hedge | (1,602) | (185) | (1,669) |
Defined benefits obligations | 434 | 1,109 | (29) |
Subtotals | (23,018) | 9,496 | 6,375 |
TOTAL OTHER COMPREHENSIVE INCOME (LOSS) FOR THE YEAR | (19,916) | 31,133 | 19,897 |
Comprehensive income (loss) for the year | (828,700) | 144,817 | 191,228 |
Non controlling Interest [Member] | |||
Disclosure of subsidiaries [line items] | |||
Income | (17,371) | 10,838 | (4,477) |
Financial instruments at fair value through other comprehensive income | (3,905) | 952 | |
Available for sale investments | (827) | ||
Hedge of net investment in foreign operations | (1,195) | ||
Cash flow hedge | 2,117 | (411) | |
Exchange differences | (7,602) | 17,368 | 10,244 |
Changes in the fair value of equity investments at fair value through other comprehensive income | 46 | 274 | 163 |
Defined benefits obligations | 1,629 | (1,184) | (254) |
Subtotals | (7,715) | 16,725 | 8,131 |
Financial instruments at fair value through other comprehensive income | 1,613 | (125) | |
Available for sale investments | (704) | ||
Net investment in foreign operations hedges | 1,024 | ||
Cash flow hedge | (1,432) | 23 | |
Defined benefits obligations | (453) | 433 | (15) |
Subtotals | (272) | 331 | 305 |
TOTAL OTHER COMPREHENSIVE INCOME (LOSS) FOR THE YEAR | (7,987) | 17,056 | 8,436 |
Comprehensive income (loss) for the year | (25,358) | 27,894 | 3,959 |
Consolidated Statement Of Comprehensive Income [member] | |||
Disclosure of subsidiaries [line items] | |||
Income | (826,155) | 124,522 | 166,854 |
Financial instruments at fair value through other comprehensive income | (8,235) | 21,703 | |
Available for sale investments | (1,441) | ||
Hedge of net investment in foreign operations | 80,722 | (46,786) | (36,533) |
Cash flow hedge | (5,682) | (6,792) | 11,289 |
Exchange differences | (71,771) | 73,855 | 48,610 |
Changes in the fair value of equity investments at fair value through other comprehensive income | 356 | 814 | 482 |
Defined benefits obligations | (3) | (4,432) | (754) |
Subtotals | (4,613) | 38,362 | 21,653 |
Financial instruments at fair value through other comprehensive income | 1,558 | (5,926) | |
Available for sale investments | (2,172) | ||
Net investment in foreign operations hedges | 14,373 | 10,565 | |
Hedge of net investment in foreign operations | (21,795) | ||
Cash flow hedge | (3,034) | (162) | (1,669) |
Defined benefits obligations | (19) | 1,542 | (44) |
Subtotals | (23,290) | 9,827 | 6,680 |
TOTAL OTHER COMPREHENSIVE INCOME (LOSS) FOR THE YEAR | (27,903) | 48,189 | 28,333 |
Comprehensive income (loss) for the year | $ (854,058) | $ 172,711 | $ 195,187 |
Interest Income and Interest _3
Interest Income and Interest Expense - Schedule of Composition of Interest Income and Inflation-indexing (Detail) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of detailed information about hedged items [line items] | |||
Totals | $ 1,549,674 | $ 1,773,640 | $ 1,739,317 |
Investments under Agreements to Resell [Member] | |||
Disclosure of detailed information about hedged items [line items] | |||
Totals | 3,567 | 4,994 | 4,988 |
Loans and receivables to banks [member] | |||
Disclosure of detailed information about hedged items [line items] | |||
Totals | 1,541 | 4,361 | 5,013 |
Commercial loans [member] | |||
Disclosure of detailed information about hedged items [line items] | |||
Totals | 849,216 | 969,673 | 931,661 |
Mortgage loans [member] | |||
Disclosure of detailed information about hedged items [line items] | |||
Totals | 306,826 | 310,297 | 303,962 |
Consumer loans [member] | |||
Disclosure of detailed information about hedged items [line items] | |||
Totals | 323,966 | 379,165 | 372,342 |
Financials investments [member] | |||
Disclosure of detailed information about hedged items [line items] | |||
Totals | 79,038 | 94,653 | 120,334 |
Other interest income [member] | |||
Disclosure of detailed information about hedged items [line items] | |||
Totals | 9,445 | 20,131 | 20,732 |
Gain (loss) from accounting hedges [member] | |||
Disclosure of detailed information about hedged items [line items] | |||
Totals | (23,925) | (9,634) | (19,715) |
Hedged of interest [member] | |||
Disclosure of detailed information about hedged items [line items] | |||
Totals | 1,343,255 | 1,528,612 | 1,487,381 |
Hedged of interest [member] | Investments under Agreements to Resell [Member] | |||
Disclosure of detailed information about hedged items [line items] | |||
Totals | 3,567 | 4,996 | 4,988 |
Hedged of interest [member] | Loans and receivables to banks [member] | |||
Disclosure of detailed information about hedged items [line items] | |||
Totals | 1,541 | 4,361 | 5,013 |
Hedged of interest [member] | Commercial loans [member] | |||
Disclosure of detailed information about hedged items [line items] | |||
Totals | 732,791 | 850,212 | 816,193 |
Hedged of interest [member] | Mortgage loans [member] | |||
Disclosure of detailed information about hedged items [line items] | |||
Totals | 189,833 | 202,945 | 196,598 |
Hedged of interest [member] | Consumer loans [member] | |||
Disclosure of detailed information about hedged items [line items] | |||
Totals | 323,836 | 379,030 | 372,148 |
Hedged of interest [member] | Financials investments [member] | |||
Disclosure of detailed information about hedged items [line items] | |||
Totals | 58,083 | 79,114 | 101,274 |
Hedged of interest [member] | Other interest income [member] | |||
Disclosure of detailed information about hedged items [line items] | |||
Totals | 7,624 | 17,588 | 10,882 |
Hedged of interest [member] | Gain (loss) from accounting hedges [member] | |||
Disclosure of detailed information about hedged items [line items] | |||
Totals | 25,980 | (9,634) | (19,715) |
Hedged of inflation adjustments [member] | |||
Disclosure of detailed information about hedged items [line items] | |||
Totals | 206,419 | 245,028 | 251,936 |
Hedged of inflation adjustments [member] | Investments under Agreements to Resell [Member] | |||
Disclosure of detailed information about hedged items [line items] | |||
Totals | (2) | ||
Hedged of inflation adjustments [member] | Commercial loans [member] | |||
Disclosure of detailed information about hedged items [line items] | |||
Totals | 116,425 | 119,461 | 115,468 |
Hedged of inflation adjustments [member] | Mortgage loans [member] | |||
Disclosure of detailed information about hedged items [line items] | |||
Totals | 116,993 | 107,352 | 107,364 |
Hedged of inflation adjustments [member] | Consumer loans [member] | |||
Disclosure of detailed information about hedged items [line items] | |||
Totals | 130 | 135 | 194 |
Hedged of inflation adjustments [member] | Financials investments [member] | |||
Disclosure of detailed information about hedged items [line items] | |||
Totals | 20,955 | 15,539 | 19,060 |
Hedged of inflation adjustments [member] | Other interest income [member] | |||
Disclosure of detailed information about hedged items [line items] | |||
Totals | 1,821 | $ 2,543 | $ 9,850 |
Hedged of inflation adjustments [member] | Gain (loss) from accounting hedges [member] | |||
Disclosure of detailed information about hedged items [line items] | |||
Totals | $ (49,905) |
Interest Income and Interest _4
Interest Income and Interest Expense - Schedule of Detail of the Amount Due for Interest and Readjustments (Detail) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of detailed information about hedged items [line items] | |||
Totals | $ (683,237) | $ (873,222) | $ (851,654) |
Deposits and other demand liabilities [member] | |||
Disclosure of detailed information about hedged items [line items] | |||
Totals | (46,842) | (52,401) | (49,677) |
Obligations under repurchase agreements [member] | |||
Disclosure of detailed information about hedged items [line items] | |||
Totals | (8,622) | (26,349) | (29,664) |
Time deposits and other time liabilities [member] | |||
Disclosure of detailed information about hedged items [line items] | |||
Totals | (262,397) | (377,608) | (385,734) |
Interbank borrowings [member] | |||
Disclosure of detailed information about hedged items [line items] | |||
Totals | (55,541) | (81,557) | (69,260) |
Debt instruments issued [member] | |||
Disclosure of detailed information about hedged items [line items] | |||
Totals | (330,450) | (342,473) | (322,252) |
Other financial liabilities [member] | |||
Disclosure of detailed information about hedged items [line items] | |||
Totals | (215) | (501) | (752) |
Lease obligations [member] | |||
Disclosure of detailed information about hedged items [line items] | |||
Totals | (4,919) | (5,126) | |
Other interest expenses [member] | |||
Disclosure of detailed information about hedged items [line items] | |||
Totals | (7,627) | (3,306) | (4,689) |
Gain (loss) from accounting hedges [member] | |||
Disclosure of detailed information about hedged items [line items] | |||
Totals | 33,376 | 16,099 | 10,374 |
Hedged of interest [member] | |||
Disclosure of detailed information about hedged items [line items] | |||
Totals | (538,082) | (730,996) | (708,651) |
Hedged of interest [member] | Deposits and other demand liabilities [member] | |||
Disclosure of detailed information about hedged items [line items] | |||
Totals | (46,530) | (52,181) | (49,536) |
Hedged of interest [member] | Obligations under repurchase agreements [member] | |||
Disclosure of detailed information about hedged items [line items] | |||
Totals | (8,621) | (26,349) | (29,660) |
Hedged of interest [member] | Time deposits and other time liabilities [member] | |||
Disclosure of detailed information about hedged items [line items] | |||
Totals | (254,633) | (369,048) | (370,206) |
Hedged of interest [member] | Interbank borrowings [member] | |||
Disclosure of detailed information about hedged items [line items] | |||
Totals | (55,541) | (81,557) | (69,054) |
Hedged of interest [member] | Debt instruments issued [member] | |||
Disclosure of detailed information about hedged items [line items] | |||
Totals | (200,911) | (212,346) | (199,420) |
Hedged of interest [member] | Other financial liabilities [member] | |||
Disclosure of detailed information about hedged items [line items] | |||
Totals | (215) | (501) | (752) |
Hedged of interest [member] | Lease obligations [member] | |||
Disclosure of detailed information about hedged items [line items] | |||
Totals | (4,923) | (5,034) | |
Hedged of interest [member] | Other interest expenses [member] | |||
Disclosure of detailed information about hedged items [line items] | |||
Totals | (84) | (79) | (397) |
Hedged of interest [member] | Gain (loss) from accounting hedges [member] | |||
Disclosure of detailed information about hedged items [line items] | |||
Totals | 33,376 | 16,099 | 10,374 |
Hedged of inflation adjustments [member] | |||
Disclosure of detailed information about hedged items [line items] | |||
Totals | (145,155) | (142,226) | (143,003) |
Hedged of inflation adjustments [member] | Deposits and other demand liabilities [member] | |||
Disclosure of detailed information about hedged items [line items] | |||
Totals | (312) | (220) | (141) |
Hedged of inflation adjustments [member] | Obligations under repurchase agreements [member] | |||
Disclosure of detailed information about hedged items [line items] | |||
Totals | (1) | (4) | |
Hedged of inflation adjustments [member] | Time deposits and other time liabilities [member] | |||
Disclosure of detailed information about hedged items [line items] | |||
Totals | (7,764) | (8,560) | (15,528) |
Hedged of inflation adjustments [member] | Interbank borrowings [member] | |||
Disclosure of detailed information about hedged items [line items] | |||
Totals | (206) | ||
Hedged of inflation adjustments [member] | Debt instruments issued [member] | |||
Disclosure of detailed information about hedged items [line items] | |||
Totals | (129,539) | (130,127) | (122,832) |
Hedged of inflation adjustments [member] | Lease obligations [member] | |||
Disclosure of detailed information about hedged items [line items] | |||
Totals | 4 | (92) | |
Hedged of inflation adjustments [member] | Other interest expenses [member] | |||
Disclosure of detailed information about hedged items [line items] | |||
Totals | $ (7,543) | $ (3,227) | $ (4,292) |
Fee and Commission Income and_3
Fee and Commission Income and Expense - Services Rendered by the Bank and Its Subsidiaries and Correspond (Detail) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Fees and income from services [abstract] | |||
Fees and commissions from lines of credits and overdrafts | $ 1,990 | $ 1,553 | $ 5,292 |
Fees and commissions from guarantees and letters of credit | 20,043 | 15,147 | 15,317 |
Fees and commissions from card services | 58,359 | 75,574 | 72,932 |
Fees and commissions from accounts management | 12,438 | 15,406 | 11,512 |
Fees and commissions from collections and payments | 24,419 | 23,921 | 20,359 |
Fees and commissions from brokerage and securities management | 9,365 | 9,844 | 10,966 |
Fees and commissions from asset management | 23,086 | 25,845 | 24,718 |
Compensation for insurance brokerage | 30,097 | 35,783 | 36,693 |
Investment banking and advisory fees | 7,471 | 20,657 | 19,403 |
Fees and commissions from student loans ceded | 5,639 | 5,735 | 5,300 |
Commissions on loan transactions | 742 | 893 | 651 |
Commissions for mortgage loans | 39 | 1,300 | 1,486 |
Other fees from services rendered | 6,838 | 10,321 | 10,982 |
Other commissions earned | 3,852 | 2,217 | 2,345 |
Totals | $ 204,378 | $ 244,196 | $ 237,956 |
Fees and Commission Income and
Fees and Commission Income and Expense - Summary of Expenses for Commissions Accrued in the Year for the Operations (Detail) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Fees and income from services [abstract] | |||
Compensation for cards transactions | $ (38,822) | $ (55,232) | $ (35,676) |
Fees and commissions for securities transactions | (4,660) | (2,716) | (2,963) |
Commissions paid for foreign trade transactions | (2,438) | (2,300) | (2,550) |
Commissions paid for customer loyalty program benefits | (11,082) | (3,725) | (2,607) |
Commissions paid for services to customers management | (1,808) | (3,905) | (3,455) |
Other commissions paid | (4,569) | (1,914) | (4,576) |
Totals | $ (63,379) | $ (69,792) | $ (51,827) |
Fee and Commission Income and_4
Fee and Commission Income and Expense - The Income and Expenses for Commissions Generated by the Segment (Detail) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of information for cash-generating units [line items] | |||
Fees and commissions from lines of credits and overdrafts | $ 1,990 | $ 1,553 | $ 5,292 |
Fees and commissions from guarantees and letters of credit | 20,043 | 15,147 | 15,317 |
Fees and commissions from card services | 58,359 | 75,574 | 72,932 |
Fees and commissions from accounts management | 12,438 | 15,406 | 11,512 |
Fees and commissions from collections and payments | 24,419 | 23,921 | 20,359 |
Fees and commissions from brokerage and securities management | 9,365 | 9,844 | 10,966 |
Fees and commissions from asset management | 23,086 | 25,845 | 24,718 |
Compensation for insurance brokerage | 30,097 | 35,783 | 36,693 |
Investment banking and advisory fees | 7,471 | 20,657 | 19,403 |
Fees and commissions from student loans ceded | 5,639 | 5,735 | 5,300 |
Commissions on loan transactions | 742 | 893 | 651 |
Commissions for mortgage loans | 39 | 1,300 | 1,486 |
Other commissions earned | 6,838 | 10,321 | 10,982 |
Totals | 204,378 | 244,196 | 237,956 |
Compensation for cards transactions | (38,822) | (55,232) | (35,676) |
Fees and commissions for securities transactions | (4,660) | (2,716) | (2,963) |
Commissions paid for foreign trade transactions | (2,438) | (2,300) | (2,550) |
Commissions paid for customer loyalty program benefits | (11,082) | (3,725) | (2,607) |
Commissions paid for services to customers management | (1,808) | (3,905) | (3,455) |
Other commissions paid | (4,569) | (1,914) | (4,576) |
Total fee and commission expense | (63,379) | $ (69,792) | $ (51,827) |
Cash-generating units [member] | |||
Disclosure of information for cash-generating units [line items] | |||
Fees and commissions from lines of credits and overdrafts | 1,990 | ||
Fees and commissions from guarantees and letters of credit | 20,043 | ||
Fees and commissions from card services | 58,359 | ||
Fees and commissions from accounts management | 12,438 | ||
Fees and commissions from collections and payments | 24,419 | ||
Fees and commissions from brokerage and securities management | 9,365 | ||
Fees and commissions from asset management | 23,086 | ||
Compensation for insurance brokerage | 30,097 | ||
Investment banking and advisory fees | 7,471 | ||
Fees and commissions from student loans ceded | 5,639 | ||
Commissions on loan transactions | 742 | ||
Commissions for mortgage loans | 39 | ||
Other commissions earned | 10,690 | ||
Totals | 204,378 | ||
Compensation for cards transactions | (38,822) | ||
Fees and commissions for securities transactions | (4,660) | ||
Other commissions paid | (19,897) | ||
Total fee and commission expense | (63,379) | ||
Cash-generating units [member] | Transferred to long time [member] | |||
Disclosure of information for cash-generating units [line items] | |||
Fees and commissions from lines of credits and overdrafts | 1,990 | ||
Fees and commissions from guarantees and letters of credit | 20,043 | ||
Investment banking and advisory fees | 223 | ||
Totals | 22,256 | ||
Cash-generating units [member] | Transferred in a moment concrete [member] | |||
Disclosure of information for cash-generating units [line items] | |||
Fees and commissions from card services | 58,359 | ||
Fees and commissions from accounts management | 12,438 | ||
Fees and commissions from collections and payments | 10,500 | ||
Fees and commissions from brokerage and securities management | 9,365 | ||
Fees and commissions from asset management | 23,086 | ||
Compensation for insurance brokerage | 1,072 | ||
Investment banking and advisory fees | 7,248 | ||
Fees and commissions from student loans ceded | 5,639 | ||
Commissions on loan transactions | 742 | ||
Commissions for mortgage loans | 39 | ||
Other commissions earned | 10,690 | ||
Totals | 139,178 | ||
Compensation for cards transactions | (38,822) | ||
Fees and commissions for securities transactions | (4,660) | ||
Other commissions paid | (19,897) | ||
Total fee and commission expense | (63,379) | ||
Cash-generating units [member] | Model of accrual [member] | |||
Disclosure of information for cash-generating units [line items] | |||
Fees and commissions from collections and payments | 13,919 | ||
Compensation for insurance brokerage | 29,025 | ||
Totals | 42,944 | ||
Cash-generating units [member] | Chile [member] | |||
Disclosure of information for cash-generating units [line items] | |||
Fees and commissions from lines of credits and overdrafts | 1,870 | ||
Fees and commissions from guarantees and letters of credit | 16,077 | ||
Fees and commissions from card services | 35,234 | ||
Fees and commissions from accounts management | 10,906 | ||
Fees and commissions from collections and payments | 12,244 | ||
Fees and commissions from brokerage and securities management | 4,375 | ||
Fees and commissions from asset management | 12,641 | ||
Compensation for insurance brokerage | 29,025 | ||
Investment banking and advisory fees | 7,237 | ||
Fees and commissions from student loans ceded | 5,639 | ||
Commissions on loan transactions | 616 | ||
Commissions for mortgage loans | 39 | ||
Other commissions earned | 6,371 | ||
Totals | 142,274 | ||
Compensation for cards transactions | (17,687) | ||
Fees and commissions for securities transactions | (3,604) | ||
Other commissions paid | (12,843) | ||
Total fee and commission expense | (34,134) | ||
Cash-generating units [member] | Colombia [member] | |||
Disclosure of information for cash-generating units [line items] | |||
Fees and commissions from lines of credits and overdrafts | 120 | ||
Fees and commissions from guarantees and letters of credit | 3,966 | ||
Fees and commissions from card services | 23,125 | ||
Fees and commissions from accounts management | 1,532 | ||
Fees and commissions from collections and payments | 12,175 | ||
Fees and commissions from brokerage and securities management | 4,990 | ||
Fees and commissions from asset management | 10,445 | ||
Compensation for insurance brokerage | 1,072 | ||
Investment banking and advisory fees | 234 | ||
Commissions on loan transactions | 126 | ||
Other commissions earned | 4,319 | ||
Totals | 62,104 | ||
Compensation for cards transactions | (21,135) | ||
Fees and commissions for securities transactions | (1,056) | ||
Other commissions paid | (7,054) | ||
Total fee and commission expense | $ (29,245) |
Net Income (Expense) from Fin_3
Net Income (Expense) from Financial Operations - Schedule of Trading and Investment Income Recognized (Detail) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure net trading and investment income [abstract] | |||
Trading instruments (securities) | $ 23,696 | $ 17,287 | $ 2,527 |
Financial derivative contracts (trading) | 40,714 | 77,040 | 152,732 |
Sale of loans and accounts receivable from customers | 6,476 | 14,588 | 1,602 |
Net gain on sale of financial instruments at fair value through other comprehensive income | 58,092 | 35,489 | 13,765 |
Net gain on sale of available for sale investments | (19,890) | (2,597) | |
Others | 1,799 | 1,827 | 2,129 |
Total | $ 110,887 | $ 143,634 | $ 172,755 |
Net Foreign Exchange Gain (Lo_3
Net Foreign Exchange Gain (Loss) - Schedule of Net Foreign Exchange Gains (Losses) (Detail) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Net foreign exchange gain (loss) | |||
Gain (loss) on net foreign currency exchange positions | $ (50,822) | $ 37,404 | $ (64,278) |
Other foreign currency exchange gains (losses) | 2,651 | 4,128 | 5,421 |
Subtotals | (48,171) | 41,532 | (58,857) |
Net exchange rate adjustments gain (loss) | |||
Adjustments for loans and accounts receivable from customers | (538) | 702 | 93 |
Adjustment for investment instruments | 105 | ||
Adjustment for other assets and liabilities | (4) | 2 | (322) |
Net gain (loss) from hedge accounting | (25,751) | (14,610) | 41,016 |
Subtotals | (26,293) | (13,906) | 40,892 |
Totals | $ (74,464) | $ 27,626 | $ (17,965) |
Provisions for Impairment of _3
Provisions for Impairment of Financial Assets - Schedule of Changes in Provision for Loan Losses Recorded on the Income (Detail) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Provisions released | |||
Credit risk provisions | $ 527,078 | $ 441,343 | $ 328,266 |
Provisions for loan losses [member] | |||
Disclosure of financial assets [line items] | |||
(Loss) for provisions established | (809,749) | (765,392) | (1,290,571) |
Charge to income for provisions used | 282,671 | 324,049 | 962,305 |
Provisions released | |||
Recovery of loans previously charged-off | 60,848 | 58,665 | |
Net charge to income | (466,230) | (382,678) | (279,798) |
Provisions for loan losses [member] | Interbank loans [member] | |||
Disclosure of financial assets [line items] | |||
(Loss) for provisions established | (10) | (507) | (344) |
Charge to income for provisions used | 218 | 765 | 131 |
Provisions released | |||
Net charge to income | 208 | 258 | (213) |
Provisions for loan losses [member] | Financial instruments at FVTOCI [member] | |||
Disclosure of financial assets [line items] | |||
(Loss) for provisions established | (250) | (2,223) | (25) |
Charge to income for provisions used | 1,649 | 19 | 411 |
Provisions released | |||
Net charge to income | 1,399 | (2,204) | 386 |
Provisions for loan losses [member] | Financial Instruments at amortized cost [member] | |||
Disclosure of financial assets [line items] | |||
(Loss) for provisions established | (86) | (9) | |
Charge to income for provisions used | 9 | 50 | |
Provisions released | |||
Net charge to income | (77) | (9) | 50 |
Provisions for loan losses [member] | Contingent loans [member] | |||
Disclosure of financial assets [line items] | |||
(Loss) for provisions established | (16,366) | (25,577) | (14,511) |
Charge to income for provisions used | 10,861 | 46,673 | 28,354 |
Provisions released | |||
Net charge to income | (5,505) | 21,096 | 13,843 |
Provisions for loan losses [member] | Loans and accounts receivables from customers [member] | |||
Disclosure of financial assets [line items] | |||
(Loss) for provisions established | (1,290,571) | ||
Charge to income for provisions used | 962,305 | ||
Collectively assessed for credit losses [member] | Provisions for loan losses [member] | |||
Provisions released | |||
Recovery of loans previously charged-off | 48,468 | ||
Commercial loans [member] | Provisions for loan losses [member] | Loans and accounts receivable at amortized cost [member] | |||
Disclosure of financial assets [line items] | |||
(Loss) for provisions established | (541,857) | (423,043) | |
Charge to income for provisions used | 173,955 | 178,243 | |
Provisions released | |||
Recovery of loans previously charged-off | 25,511 | 22,213 | |
Net charge to income | (342,391) | (222,587) | |
Commercial loans [member] | Provisions for loan losses [member] | Loans and accounts receivables from customers [member] | |||
Disclosure of financial assets [line items] | |||
(Loss) for provisions established | (634,886) | ||
Charge to income for provisions used | 474,192 | ||
Provisions released | |||
Net charge to income | (140,773) | ||
Commercial loans [member] | Collectively assessed for credit losses [member] | Provisions for loan losses [member] | Loans and accounts receivables from customers [member] | |||
Provisions released | |||
Recovery of loans previously charged-off | 19,921 | ||
Mortgage loans [member] | Provisions for loan losses [member] | Loans and accounts receivable at amortized cost [member] | |||
Disclosure of financial assets [line items] | |||
(Loss) for provisions established | (27,516) | (35,031) | |
Charge to income for provisions used | 9,667 | 9,102 | |
Provisions released | |||
Recovery of loans previously charged-off | 2,558 | 2,791 | |
Net charge to income | (15,291) | (23,138) | |
Mortgage loans [member] | Provisions for loan losses [member] | Loans and accounts receivables from customers [member] | |||
Disclosure of financial assets [line items] | |||
(Loss) for provisions established | (78,185) | ||
Charge to income for provisions used | 78,873 | ||
Provisions released | |||
Net charge to income | 3,276 | ||
Mortgage loans [member] | Collectively assessed for credit losses [member] | Provisions for loan losses [member] | Loans and accounts receivables from customers [member] | |||
Provisions released | |||
Recovery of loans previously charged-off | 2,588 | ||
Consumer loans [member] | Provisions for loan losses [member] | Loans and accounts receivable at amortized cost [member] | |||
Disclosure of financial assets [line items] | |||
(Loss) for provisions established | (223,664) | (279,002) | |
Charge to income for provisions used | 86,312 | 89,247 | |
Provisions released | |||
Recovery of loans previously charged-off | 32,779 | 33,661 | |
Net charge to income | $ (104,573) | $ (156,094) | |
Consumer loans [member] | Provisions for loan losses [member] | Loans and accounts receivables from customers [member] | |||
Disclosure of financial assets [line items] | |||
(Loss) for provisions established | (562,620) | ||
Charge to income for provisions used | 380,294 | ||
Provisions released | |||
Net charge to income | (156,367) | ||
Consumer loans [member] | Collectively assessed for credit losses [member] | Provisions for loan losses [member] | Loans and accounts receivables from customers [member] | |||
Provisions released | |||
Recovery of loans previously charged-off | $ 25,959 |
Provisions for Impairment of _4
Provisions for Impairment of Financial Assets - Schedule of Established and Released Provision Amounts (Detail) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of financial assets [line items] | |||
Provisions established | $ (793,047) | $ (737,583) | $ (342,545) |
Released provisions | 270,152 | 277,357 | |
Totals | (522,895) | (460,226) | |
Commercial loans [member] | |||
Disclosure of financial assets [line items] | |||
Provisions established | (541,857) | (423,043) | (160,694) |
Released provisions | 173,955 | 178,243 | |
Totals | (367,902) | (244,800) | |
Mortgage loans [member] | |||
Disclosure of financial assets [line items] | |||
Provisions established | (27,516) | (35,031) | 688 |
Released provisions | 9,667 | 9,102 | |
Totals | (17,849) | (25,929) | |
Consumer loans [member] | |||
Disclosure of financial assets [line items] | |||
Provisions established | (223,664) | (279,002) | (182,326) |
Released provisions | 86,312 | 89,247 | |
Totals | (137,352) | (189,755) | |
Sub Total [member] | |||
Disclosure of financial assets [line items] | |||
Provisions established | (793,037) | (737,076) | (342,332) |
Released provisions | 269,934 | 276,592 | |
Totals | (523,103) | (460,484) | |
Bank [member] | |||
Disclosure of financial assets [line items] | |||
Provisions established | (10) | (507) | (213) |
Released provisions | 218 | 765 | |
Totals | $ 208 | $ 258 | |
Individually assessed for credit losses [member] | |||
Disclosure of financial assets [line items] | |||
Provisions established | (1,276,035) | ||
Individually assessed for credit losses [member] | Commercial loans [member] | |||
Disclosure of financial assets [line items] | |||
Provisions established | (634,886) | ||
Individually assessed for credit losses [member] | Mortgage loans [member] | |||
Disclosure of financial assets [line items] | |||
Provisions established | (78,185) | ||
Individually assessed for credit losses [member] | Consumer loans [member] | |||
Disclosure of financial assets [line items] | |||
Provisions established | (562,620) | ||
Individually assessed for credit losses [member] | Sub Total [member] | |||
Disclosure of financial assets [line items] | |||
Provisions established | (1,275,691) | ||
Individually assessed for credit losses [member] | Bank [member] | |||
Disclosure of financial assets [line items] | |||
Provisions established | (344) | ||
Collectively assessed for credit losses [member] | |||
Disclosure of financial assets [line items] | |||
Provisions established | 933,490 | ||
Collectively assessed for credit losses [member] | Commercial loans [member] | |||
Disclosure of financial assets [line items] | |||
Provisions established | 474,192 | ||
Collectively assessed for credit losses [member] | Mortgage loans [member] | |||
Disclosure of financial assets [line items] | |||
Provisions established | 78,873 | ||
Collectively assessed for credit losses [member] | Consumer loans [member] | |||
Disclosure of financial assets [line items] | |||
Provisions established | 380,294 | ||
Collectively assessed for credit losses [member] | Sub Total [member] | |||
Disclosure of financial assets [line items] | |||
Provisions established | 933,359 | ||
Collectively assessed for credit losses [member] | Bank [member] | |||
Disclosure of financial assets [line items] | |||
Provisions established | $ 131 |
Personnel Salaries and Expens_3
Personnel Salaries and Expenses - Schedule of Personnel Salaries Expenses (Detail) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Personnel salaries expenses [abstract] | |||
Personnel compensation | $ (185,677) | $ (181,431) | $ (176,083) |
Bonuses or gratifications | (68,154) | (82,129) | (84,754) |
Compensation for years of service | (17,292) | (12,830) | (12,477) |
Training expenses | (931) | (825) | (804) |
Health and life insurance | (2,831) | (2,910) | (2,590) |
Other personnel expenses | (17,306) | (18,084) | (18,039) |
Totals | $ (292,191) | $ (298,209) | $ (294,747) |
Administrative Expenses - Sched
Administrative Expenses - Schedule of Administration Expenses (Detail) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Administration expenses [abstract] | |||
Administrative expenses | $ (181,514) | $ (177,919) | $ (214,666) |
Maintenance and repair of fixed assets | (32,637) | (35,213) | (31,673) |
Office lease | (36,201) | ||
Equipment lease | (2,925) | ||
Insurance payments | (17,428) | (16,389) | (20,704) |
Office supplies | (1,756) | (1,679) | (1,885) |
IT and communications expenses | (53,839) | (47,878) | (43,667) |
Utilities and other services | (3,931) | (4,558) | (4,443) |
Security and transportation of securities services | (6,754) | (5,232) | (5,250) |
Representation and personnel travel expenses | (1,263) | (3,345) | (3,612) |
Legal and notarial expenses | (21,675) | (20,384) | (15,112) |
Technical report fees | (13,180) | (13,647) | (11,626) |
Professional services fees | (1,629) | (1,656) | (1,825) |
Fees for classification of titles | (134) | ||
Fines | (133) | (1,947) | (6,059) |
ATM maintenance and management services | (2,460) | (2,436) | (2,630) |
Temporary external services | (372) | (1,032) | (545) |
Postage and mailing expenses | (1,752) | (1,110) | (1,341) |
Internal events | (330) | (648) | (248) |
Commercial programs | (706) | (1,246) | (1,242) |
Credit card management services | (1,180) | (4,051) | (3,102) |
Other administrative expenses | (20,489) | (15,468) | (20,442) |
Subcontracted services | (28,539) | (22,134) | (22,303) |
Data processing | (10,929) | (12,990) | (13,044) |
Products sales | (865) | (275) | |
Others | (16,745) | (9,144) | (8,984) |
Board of Directors compensation | (1,310) | (1,350) | (1,529) |
Marketing and advertising | (11,914) | (13,353) | (14,384) |
Real estate taxes, contributions and levies | (34,476) | (34,125) | (38,854) |
Real estate taxes | (347) | (286) | (393) |
Patents | (1,353) | (1,206) | (1,121) |
Other taxes | (23,660) | (24,467) | (29,324) |
Contributions to SBIF | (9,116) | (8,166) | (8,016) |
Totals | $ (257,753) | $ (248,881) | $ (291,736) |
Depreciation Amortization and I
Depreciation Amortization and Impairment - Schedule of Depreciation and Amortization Expenses (Detail) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of financial assets [abstract] | |||
Depreciation of property, plant and equipment | $ (21,826) | $ (21,169) | $ (20,659) |
Amortization of intangible assets | (74,625) | (74,140) | (66,158) |
Depreciation of the period | (29,993) | (31,857) | |
Totals | $ (126,444) | $ (127,166) | $ (86,817) |
Depreciation Amortization and_2
Depreciation Amortization and Impairment - Schedule of Impairment losses (Detail) $ in Millions | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Jun. 30, 2020CLP ($) | Sep. 30, 2020CLP ($) | Dec. 31, 2020CLP ($)item | Dec. 31, 2019CLP ($) | Dec. 31, 2018CLP ($) | |
Disclosure of financial assets [line items] | |||||
Subtotal Non-financial assets | $ (814,879) | $ (728) | $ (28) | ||
Total | $ (765,736) | $ 731,189 | $ (814,879) | ||
Number of cash generating units | item | 2 | ||||
Intangible assets other than goodwill [member] | |||||
Disclosure of financial assets [line items] | |||||
Subtotal Non-financial assets | $ (38,849) | ||||
Intangible assets other than goodwill [member] | Systems [Member] | |||||
Disclosure of financial assets [line items] | |||||
Subtotal Non-financial assets | (31,426) | ||||
Intangible assets other than goodwill [member] | Projects [Member] | |||||
Disclosure of financial assets [line items] | |||||
Subtotal Non-financial assets | (3,098) | ||||
Intangible assets other than goodwill [member] | Systems And Software [Member] | |||||
Disclosure of financial assets [line items] | |||||
Subtotal Non-financial assets | (4,325) | ||||
Intangibles Generated in Business Combinations [Member] | |||||
Disclosure of financial assets [line items] | |||||
Subtotal Non-financial assets | (113,911) | ||||
Intangibles Generated in Business Combinations [Member] | Itaú Corredor de Seguros Colombia S.A [Member] | |||||
Disclosure of financial assets [line items] | |||||
Subtotal Non-financial assets | (113,138) | ||||
Intangibles Generated in Business Combinations [Member] | ITAÚ CORPBANCA COLOMBIA | |||||
Disclosure of financial assets [line items] | |||||
Subtotal Non-financial assets | (773) | ||||
Goodwill [member] | |||||
Disclosure of financial assets [line items] | |||||
Subtotal Non-financial assets | (651,825) | ||||
Goodwill [member] | Chile [member] | |||||
Disclosure of financial assets [line items] | |||||
Subtotal Non-financial assets | (412,356) | ||||
Goodwill [member] | Colombia [member] | |||||
Disclosure of financial assets [line items] | |||||
Subtotal Non-financial assets | (239,469) | ||||
Nonfinancial assets property plant and equipment [member] | |||||
Disclosure of financial assets [line items] | |||||
Subtotal Non-financial assets | (10,294) | (728) | (28) | ||
Total | (814,879) | $ (728) | $ (28) | ||
Nonfinancial assets property plant and equipment [member] | Fixed assets [member] | |||||
Disclosure of financial assets [line items] | |||||
Subtotal Non-financial assets | (867) | ||||
Nonfinancial assets property plant and equipment [member] | ATM Equipment [Member] | |||||
Disclosure of financial assets [line items] | |||||
Subtotal Non-financial assets | (24) | ||||
Non Financial Assets Goodwill and Intangibles [Member] | Improvements Lease Properties [Member] | |||||
Disclosure of financial assets [line items] | |||||
Subtotal Non-financial assets | $ (9,403) |
Depreciation Amortization and_3
Depreciation Amortization and Impairment - Schedule of CGU Book Value (Detail) - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Chile [member] | ||
Disclosure of geographical areas [line items] | ||
Total | $ 492,512 | $ 904,868 |
Colombia [member] | ||
Disclosure of geographical areas [line items] | ||
Total | 235,159 | |
Funds Managed by Related Subsidiaries [Member] | Chile [member] | ||
Disclosure of geographical areas [line items] | ||
Total | 2,261,620 | 2,366,517 |
Funds Managed by Related Subsidiaries [Member] | Colombia [member] | ||
Disclosure of geographical areas [line items] | ||
Total | $ 942,653 | $ 959,821 |
Depreciation Amortization and_4
Depreciation Amortization and Impairment - Schedule of Respective Authorizations were Obtained in Brazil, Chile and Colombia, Recording and Allocating Goodwill (Detail) - CLP ($) $ in Millions | 6 Months Ended | 12 Months Ended |
Jun. 30, 2020 | Dec. 31, 2020 | |
Disclosure of geographical areas [line items] | ||
Goodwill impairment | $ 651,825 | |
Chile [member] | ||
Disclosure of geographical areas [line items] | ||
Goodwill impairment | $ 412,356 | 412,356 |
Recoverable Amount / Carrying Value | 86.81% | |
Colombia [member] | ||
Disclosure of geographical areas [line items] | ||
Goodwill impairment | $ 239,469 | $ 239,469 |
Recoverable Amount / Carrying Value | 62.50% |
Depreciation Amortization and_5
Depreciation Amortization and Impairment - Schedule of Assumptions Used in Calculating the Recoverable Amount (Detail) | 3 Months Ended | 12 Months Ended | |
Jun. 30, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | |
Chile [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Perpetuity rate | 5.20% | 5.20% | 5.20% |
Projected inflation rate | 3.00% | 3.00% | 3.00% |
Discount rate | 10.40% | 9.50% | 10.00% |
Colombia [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Perpetuity rate | 6.50% | 6.50% | |
Projected inflation rate | 3.00% | 3.00% | |
Discount rate | 12.31% | 11.30% | |
Bottom of Range [Member] | Chile [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Loans growth | 5.67% | 7.00% | 9.05% |
Solvency index limit | 10.81% | 12.77% | 11.40% |
Bottom of Range [Member] | Colombia [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Loans growth | 6.25% | 9.70% | |
Solvency index limit | 10.00% | 10.60% | |
Top of Range [Member] | Chile [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Loans growth | 7.41% | 10.00% | 10.28% |
Solvency index limit | 12.12% | 13.11% | 12.40% |
Top of Range [Member] | Colombia [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Loans growth | 8.82% | 10.30% | |
Solvency index limit | 11.70% | 14.00% |
Depreciation Amortization and_6
Depreciation Amortization and Impairment - Goodwill impairment loss (Detail) $ in Millions, in Millions | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | |
Jun. 30, 2020CLP ($) | Jun. 30, 2020CLP ($) | Sep. 30, 2020CLP ($) | Dec. 31, 2020CLF ( ) | Dec. 31, 2020CLP ($) | |
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||||
Impairment | $ (651,825) | ||||
Impairment loss recognised in profit or loss, intangible assets other than goodwill | (765,736) | ||||
Totals impairment of CGU Chile and Colombia | (765,736) | ||||
Deferred tax liability, business combination | 34,547 | ||||
Effect on income net of taxes generated by the recognition of the impairment loss | 731,189 | ||||
Impact of Goodwill Impairment Attributable to Parent | $ 720,951 | 720,951 | |||
Impact of Goodwill Impairment Attributable to Non Controlling Interest | 10,238 | 10,238 | |||
Impairment loss | $ 765,736 | $ (731,189) | 814,879 | ||
Assets generated in business combination [member] | |||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||||
Impairment loss recognised in profit or loss, intangible assets other than goodwill | (113,911) | ||||
Totals impairment of CGU Chile and Colombia | (113,911) | ||||
Chile [member] | |||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||||
Impairment | (412,356) | (412,356) | |||
Impairment loss recognised in profit or loss, intangible assets other than goodwill | (412,356) | ||||
Totals impairment of CGU Chile and Colombia | (412,356) | ||||
Colombia [member] | |||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||||
Impairment | (239,469) | (239,469) | |||
Impairment loss recognised in profit or loss, intangible assets other than goodwill | (113,911) | (113,911) | (353,380) | ||
Totals impairment of CGU Chile and Colombia | $ (113,911) | (113,911) | (353,380) | ||
Colombia [member] | Assets generated in business combination [member] | |||||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||||
Impairment loss recognised in profit or loss, intangible assets other than goodwill | (113,911) | ||||
Totals impairment of CGU Chile and Colombia | $ (113,911) |
Depreciation Amortization and_7
Depreciation Amortization and Impairment - Allocation of goodwill (Detail) - CLP ($) $ in Millions | 6 Months Ended | 12 Months Ended |
Jun. 30, 2020 | Dec. 31, 2020 | |
Reconciliation of changes in goodwill [abstract] | ||
Impairment | $ (651,825) | |
Chile [member] | ||
Reconciliation of changes in goodwill [abstract] | ||
Balances at beginning | $ 904,868 | 904,868 |
Impairment | (412,356) | (412,356) |
Balance at ending | 492,512 | |
Colombia [member] | ||
Reconciliation of changes in goodwill [abstract] | ||
Balances at beginning | 235,159 | 235,159 |
Conversion difference | 4,310 | |
Impairment | $ (239,469) | $ (239,469) |
Depreciation Amortization and_8
Depreciation Amortization and Impairment - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2020 | |
Chile [member] | |
Disclosure of geographical areas [line items] | |
Projection of loan deposit | 7.30% |
Annual average ratio of demand deposits and term deposit balances | 3.70% |
Colombia [member] | |
Disclosure of geographical areas [line items] | |
Annual average ratio of demand deposits and term deposit balances | 4.00% |
Depreciation Amortization and_9
Depreciation Amortization and Impairment - Schedule of Impairment Assessment Process (Detail) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Chile [member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Recoverable Amount / Carrying Value | 137.80% | 121.38% |
Colombia [member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Recoverable Amount / Carrying Value | 107.09% |
Depreciation Amortization an_10
Depreciation Amortization and Impairment - Schedule of Discount Rates and Growth in Perpetuity (Details) | 3 Months Ended | 12 Months Ended | |
Jun. 30, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | |
Chile [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Discount rates | 10.40% | 9.50% | 10.00% |
Range | 5.20% | 5.20% | 5.20% |
Chile [member] | Bottom of Range [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Perpetuity growth rate | 30.00% | ||
Chile [member] | Top of Range [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Perpetuity growth rate | 50.00% | ||
Colombia [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Discount rates | 12.31% | 11.30% | |
Range | 6.50% | 6.50% |
Depreciation Amortization an_11
Depreciation Amortization and Impairment - Schedule of Cash Flows (Detail) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Chile [member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Discount rates | 10.52% | 12.55% |
Recoverable amount/Carrying value | 158.32% | 145.80% |
Colombia [member] | ||
Disclosure of disaggregation of revenue from contracts with customers [line items] | ||
Discount rates | 16.90% | |
Recoverable amount/Carrying value | 134.43% |
Other Operating Income and Ex_3
Other Operating Income and Expenses - Schedule of Other Operating Income (Detail) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Income from assets received in lieu of payment | |||
Gain on sales of assets received in lieu of payment | $ 3,287 | $ 5,449 | $ 8,562 |
Other income | 30,622 | 13,163 | 30 |
Subtotals | 33,909 | 18,612 | 8,592 |
Other income | |||
Compensations from insurance companies | 693 | 6 | 53 |
Different income of interest and commissions for lease contract | 819 | 280 | 724 |
Gain on sale of property, plant and equipment | 14 | 2,248 | 5,519 |
Recovery of leased assets | 59 | 73 | 1,349 |
Other operating income, subsidiaries | 4,604 | 3,020 | 2,158 |
Gain on sale of leased assets | 688 | 1,914 | 1,447 |
Other operating income | 933 | 432 | 199 |
Revenue from insurance companies agreement | 1,537 | 4,538 | 3,626 |
Other income for recovery foreign expenses | 895 | 747 | 620 |
Recoveries from expenses provisions | 15,739 | 7,243 | 1,166 |
Other income | 5,688 | 5,859 | 1,203 |
Subtotals | 31,669 | 26,360 | 18,064 |
Totals | $ 65,578 | $ 44,972 | $ 26,656 |
Other Operating Income and Ex_4
Other Operating Income and Expenses - Schedule of Other Operating Expenses (Detail) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of other operating income expense [abstract] | |||
Provisions for assets received in lieu of payment | $ (4,006) | $ (18,062) | $ (16,132) |
Maintenance expenses for assets received in lieu of payment | (1,086) | (1,663) | (1,301) |
Subtotal | (5,092) | (19,725) | (17,433) |
Provisions for contingencies | |||
Other provisions for contingencies | (3,119) | (507) | (1,998) |
Subtotals | (3,119) | (507) | (1,998) |
Other Expenses | |||
Loss on sale of property, plant and equipment | (145) | (655) | (307) |
Credit card loyalty point benefits expenses | (14,306) | ||
Restructuring cost | (7,190) | ||
Operating loss expenses | (5,219) | (17,468) | (10,589) |
Insurance expense (law 20,027) | (36,075) | (802) | (622) |
Provision expense for recovered leased assets | (1,191) | (3,105) | (4,170) |
Expenses loss on sale of assets | (16,262) | (9,386) | |
Banking expenses | (2,754) | (1,932) | (2,450) |
Fines and penalties | (4,502) | (2,454) | (13,110) |
Loss on damaged assets | (696) | (2,311) | |
Other expenses | (8,962) | (4,819) | (903) |
Subtotals | (82,300) | (41,317) | (48,768) |
Totals | $ (90,511) | $ (61,549) | $ (68,199) |
Related Party Transactions - Sc
Related Party Transactions - Schedule of Loan Granted to Related Parties (Detail) - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Loans and accounts receivable from customers | ||
Loans and receivables to customers, net | $ 14,231 | |
Productive Companies [member] | ||
Loans and accounts receivable from customers | ||
Commercial loans | $ 150,796 | 109,840 |
Allowance for loan losses | (6,333) | (1,705) |
Loans and receivables to customers, net | 144,463 | 108,135 |
Productive Companies [member] | Commercial loans [member] | ||
Loans and accounts receivable from customers | ||
Commercial loans | 150,796 | 109,840 |
Investment Companies [member] | ||
Loans and accounts receivable from customers | ||
Commercial loans | 10,037 | 11,910 |
Allowance for loan losses | (885) | (134) |
Loans and receivables to customers, net | 9,152 | 11,776 |
Investment Companies [member] | Commercial loans [member] | ||
Loans and accounts receivable from customers | ||
Commercial loans | 10,037 | 11,910 |
Individuals [member] | ||
Loans and accounts receivable from customers | ||
Commercial loans | 43,830 | 43,460 |
Allowance for loan losses | (348) | (283) |
Loans and receivables to customers, net | 43,482 | 43,177 |
Individuals [member] | Commercial loans [member] | ||
Loans and accounts receivable from customers | ||
Commercial loans | 6,517 | 5,054 |
Individuals [member] | Mortgages loans [member] | ||
Loans and accounts receivable from customers | ||
Commercial loans | 30,124 | 29,419 |
Individuals [member] | Consumer loans [member] | ||
Loans and accounts receivable from customers | ||
Commercial loans | $ 7,189 | $ 8,987 |
Related Party Transactions - _2
Related Party Transactions - Schedule of Other Transactions with Related Parties (Detail) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Adexus S A [member] | |||
Disclosure of transactions between related parties [line items] | |||
Effect on profit (loss) expense MCh$ | $ (8) | $ (567) | $ (254) |
Bcycle Latam SPA [member] | |||
Disclosure of transactions between related parties [line items] | |||
Effect on profit (loss) expense MCh$ | (2,165) | (1,518) | (4,048) |
Bolsa de Comercio de Santiago [member] | |||
Disclosure of transactions between related parties [line items] | |||
Effect on profit (loss) expense MCh$ | (3) | (204) | |
CAI Gestion Inmobiliaria S.A. [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Effect on profit (loss) expense MCh$ | (366) | (103) | |
Combanc S.A. [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Effect on profit (loss) expense MCh$ | (472) | (910) | (350) |
Comder Contraparte Central S.A [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Effect on profit (loss) expense MCh$ | (826) | (47) | (902) |
Compania Chilena de Television S A [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Effect on profit (loss) expense MCh$ | (8) | ||
Corp Group Holding Inversiones Limitada [member] | |||
Disclosure of transactions between related parties [line items] | |||
Effect on profit (loss) expense MCh$ | (537) | (382) | (408) |
Corp Imagen y disenos S.A. [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Effect on profit (loss) expense MCh$ | (101) | (99) | |
Corp Research S.A. [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Effect on profit (loss) expense MCh$ | (474) | (463) | |
Everis ChileSA [member] | |||
Disclosure of transactions between related parties [line items] | |||
Effect on profit (loss) expense MCh$ | (39) | (906) | |
Hotel Corporation of Chile S.A. [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Balances receivable (payable) MCh$ | (15,625) | ||
Effect on profit (loss) expense MCh$ | (8) | (1,994) | (94) |
Inmetrics Chile S.A [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Effect on profit (loss) expense MCh$ | (1,470) | ||
Inmobiliaria Edificio Corpgroup S.A. [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Balances receivable (payable) MCh$ | (14,175) | (809) | |
Effect on profit (loss) expense MCh$ | (4,693) | (121) | (4,693) |
Inmobiliaria Gabriela S A [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Balances receivable (payable) MCh$ | (708) | ||
Effect on profit (loss) expense MCh$ | (128) | ||
Instituto De Estudios Bancarios Guillermo Subercaseaux [member] | |||
Disclosure of transactions between related parties [line items] | |||
Effect on profit (loss) expense MCh$ | (2,537) | (121) | |
Inversiones Corp Group Interhold Ltda [member] | |||
Disclosure of transactions between related parties [line items] | |||
Effect on profit (loss) income MCh$ | 46 | ||
Effect on profit (loss) expense MCh$ | (2,613) | (248) | (2,476) |
Itau Chile Cia. de Seguros de Vida S.A. [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Balances receivable (payable) MCh$ | (441) | ||
Effect on profit (loss) income MCh$ | 93 | ||
Effect on profit (loss) expense MCh$ | (220) | (706) | |
Itau Chile Inv. Serv.y Administracion S.A. [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Balances receivable (payable) MCh$ | (198) | 349 | |
Effect on profit (loss) income MCh$ | 2,051 | 204 | |
Effect on profit (loss) expense MCh$ | (1,143) | (141) | |
Itau Unibanco S.A [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Balances receivable (payable) MCh$ | 1,549 | ||
Effect on profit (loss) income MCh$ | 2,213 | ||
Operadora de Tarjeta de Credito Nexus S.A. [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Effect on profit (loss) expense MCh$ | (3,319) | (3,037) | (2,909) |
Pulso Editorial S.A [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Effect on profit (loss) expense MCh$ | (24) | (23) | (471) |
Redbanc S.A. [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Effect on profit (loss) expense MCh$ | (3,094) | (3,388) | (3,002) |
SMU SA, Rendic Hnos. S.A. [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Balances receivable (payable) MCh$ | 991 | 3,379 | 5,698 |
Effect on profit (loss) expense MCh$ | (2,388) | (2,319) | (2,262) |
Transbank S.A. [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Effect on profit (loss) expense MCh$ | $ (13,177) | $ (14,208) | (15,469) |
VIP Asesoriasy Servicios Integrales Ltda. [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Effect on profit (loss) expense MCh$ | $ (129) |
Related Party Transactions - _3
Related Party Transactions - Schedule of Donations (Detail) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Fundacion Corpgroup Centro Cultural [member] | |||
Disclosure of transactions between related parties [line items] | |||
Balances receivable (payable) MCh$ | $ 1,556 | $ 1,325 | $ 1,225 |
Fundacion Descubreme [member] | |||
Disclosure of transactions between related parties [line items] | |||
Balances receivable (payable) MCh$ | 235 | 204 | 194 |
Fundacion Itau [member] | |||
Disclosure of transactions between related parties [line items] | |||
Balances receivable (payable) MCh$ | $ 196 | $ 170 | $ 157 |
Related Party Transactions - _4
Related Party Transactions - Schedule of Other Assets and Liabilities with Related Parties (Detail) - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of transactions between related parties [line items] | ||
Assets | $ 35,486,448 | $ 33,610,056 |
Derivative financial instruments | 3,982,803 | 3,154,957 |
Other assets | 542,633 | 770,861 |
LIABILITIES | 33,103,113 | 30,283,718 |
Derivative financial instruments | 3,673,591 | 2,938,034 |
Other liabilities | 700,034 | 708,914 |
Related Parties 1 [Member] | ||
Disclosure of transactions between related parties [line items] | ||
Assets | 34,416 | 28,474 |
Derivative financial instruments | 33,875 | 27,458 |
Other assets | 541 | 1,016 |
LIABILITIES | 447,306 | 420,273 |
Derivative financial instruments | 2,778 | 1,565 |
Current accounts and demand deposits | 179,067 | 34,416 |
Time deposits and saving accounts | 239,709 | 354,794 |
Other liabilities | $ 25,752 | $ 29,498 |
Related Party Transactions - _5
Related Party Transactions - Schedule of Result of Transactions with Related Parties (Detail) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of transactions between related parties [line items] | |||
Fee and commission income and (expense) | $ 140,999 | $ 174,404 | $ 186,129 |
Income [member] | |||
Disclosure of transactions between related parties [line items] | |||
Interest and readjustments income (expense) | 8,532 | 11,269 | 3,748 |
Fee and commission income and (expense) | 504 | 3,232 | 829 |
Net income (loss) from financial operations | 26,636 | 2,585 | 1,146 |
Operational support related expenses | 500 | 901 | 1,075 |
Other income and (expenses) | 211 | 207 | 84 |
Totals | 36,383 | 18,194 | 6,882 |
Expense [member] | |||
Disclosure of transactions between related parties [line items] | |||
Interest and readjustments income (expense) | (4,955) | (7,328) | (2,970) |
Net income (loss) from financial operations | (10,033) | (888) | (501) |
Other income and (expenses) | (310) | (327) | (222) |
Totals | $ (15,298) | $ (8,543) | $ (3,693) |
Related Party Transactions - _6
Related Party Transactions - Schedule of Payments to Board of Directors and Key Management Personnel (Detail) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Related party transactions [abstract] | |||
Short-term employee benefits | $ 31,868 | $ 31,364 | $ 31,892 |
Compensation for termination of contract | 931 | 799 | 1,337 |
Totals | $ 32,799 | $ 32,163 | $ 33,229 |
Related Party Transactions - Ad
Related Party Transactions - Additional Information (Detail) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Related party transactions [abstract] | |||
Compensation received by the key management personnel | $ 32,799 | $ 32,163 | $ 33,229 |
Related Party Transactions - _7
Related Party Transactions - Schedule of Conformation of Key Personnel (Detail) | Dec. 31, 2020 | Dec. 31, 2019 |
Directors [member] | ||
Disclosure of transactions between related parties [line items] | ||
Number of executives | 14 | 14 |
Chief Executive Officer [Member] | ||
Disclosure of transactions between related parties [line items] | ||
Number of executives | 10 | 10 |
Division Manager [member] | ||
Disclosure of transactions between related parties [line items] | ||
Number of executives | 24 | 25 |
Area Manager [member] | ||
Disclosure of transactions between related parties [line items] | ||
Number of executives | 146 | 162 |
Managers [member] | ||
Disclosure of transactions between related parties [line items] | ||
Number of executives | 128 | 143 |
Related Party Transactions - _8
Related Party Transactions - Schedule of Transactions with Key Personnel (Detail) - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Credit Card [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
MCh$ | $ 115 | $ 122 |
Consumer loans [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
MCh$ | 389 | 421 |
Commercial Loan 1 [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
MCh$ | 534 | 546 |
Mortgages1 [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
MCh$ | $ 366 | $ 826 |
Fair Value of Financial Asset_3
Fair Value of Financial Assets and Liabilities - Schedule of Determination of the Fair Value of Financial Instruments (Detail) - IFRS9 [member] - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Not measured at fair value in statement of financial position but for which fair value is disclosed [member] | ||
ASSETS | ||
Financial assets | $ 33,599,027 | $ 30,681,261 |
LIABILITIES | ||
Financial liabilities | 32,265,986 | 29,396,701 |
Not measured at fair value in statement of financial position but for which fair value is disclosed [member] | Deposits and other demand liabilities [member] | ||
LIABILITIES | ||
Financial liabilities | 6,197,406 | 4,873,448 |
Not measured at fair value in statement of financial position but for which fair value is disclosed [member] | Cash in process of being cleared [member] | ||
LIABILITIES | ||
Financial liabilities | 154,232 | 164,573 |
Not measured at fair value in statement of financial position but for which fair value is disclosed [member] | Obligations under repurchase agreements [member] | ||
LIABILITIES | ||
Financial liabilities | 638,851 | 559,457 |
Not measured at fair value in statement of financial position but for which fair value is disclosed [member] | Time deposits and other time liabilities [member] | ||
LIABILITIES | ||
Financial liabilities | 11,433,064 | 11,620,187 |
Not measured at fair value in statement of financial position but for which fair value is disclosed [member] | Financial derivative contracts [member] | ||
LIABILITIES | ||
Financial liabilities | 3,673,591 | 2,938,034 |
Not measured at fair value in statement of financial position but for which fair value is disclosed [member] | Interbank borrowings [member] | ||
LIABILITIES | ||
Financial liabilities | 3,798,978 | 2,646,756 |
Not measured at fair value in statement of financial position but for which fair value is disclosed [member] | Debt instruments issued [member] | ||
LIABILITIES | ||
Financial liabilities | 6,204,856 | 6,408,356 |
Not measured at fair value in statement of financial position but for which fair value is disclosed [member] | Lease obligations [member] | ||
LIABILITIES | ||
Financial liabilities | 151,885 | 172,924 |
Not measured at fair value in statement of financial position but for which fair value is disclosed [member] | Other financial obligations [Member] | ||
LIABILITIES | ||
Financial liabilities | 13,123 | 12,966 |
Not measured at fair value in statement of financial position but for which fair value is disclosed [member] | Cash and deposits in banks [member] | ||
ASSETS | ||
Financial assets | 3,089,072 | 1,009,681 |
Not measured at fair value in statement of financial position but for which fair value is disclosed [member] | Cash items in process of collection [member] | ||
ASSETS | ||
Financial assets | 173,192 | 231,305 |
Not measured at fair value in statement of financial position but for which fair value is disclosed [member] | Financial instruments at fair value through profit and loss [member] | ||
ASSETS | ||
Financial assets | 582,710 | 183,702 |
Not measured at fair value in statement of financial position but for which fair value is disclosed [member] | Financial instruments at FVTOCI [member] | ||
ASSETS | ||
Financial assets | 3,970,899 | 3,598,890 |
Not measured at fair value in statement of financial position but for which fair value is disclosed [member] | Loans and receivables from banks, net [member] | ||
ASSETS | ||
Financial assets | 21,576,108 | 22,254,697 |
Not measured at fair value in statement of financial position but for which fair value is disclosed [member] | Financial Instruments at amortized cost [member] | ||
ASSETS | ||
Financial assets | 111,542 | 115,658 |
Not measured at fair value in statement of financial position but for which fair value is disclosed [member] | Investments under Agreements to Resell [Member] | ||
ASSETS | ||
Financial assets | 105,580 | 75,975 |
Not measured at fair value in statement of financial position but for which fair value is disclosed [member] | Financial derivative contracts [member] | ||
ASSETS | ||
Financial assets | 3,982,803 | 3,154,957 |
Not measured at fair value in statement of financial position but for which fair value is disclosed [member] | Interbank loans [member] | ||
ASSETS | ||
Financial assets | 7,121 | 56,396 |
Recurring Fair Value Measurement [Member] | ||
ASSETS | ||
Financial assets | 8,536,412 | 6,937,549 |
LIABILITIES | ||
Financial liabilities | 3,673,591 | 2,938,034 |
Recurring Fair Value Measurement [Member] | Financial derivative contracts [member] | ||
LIABILITIES | ||
Financial liabilities | 3,673,591 | 2,938,034 |
Recurring Fair Value Measurement [Member] | Financial instruments at fair value through profit and loss [member] | ||
ASSETS | ||
Financial assets | 582,710 | 183,702 |
Recurring Fair Value Measurement [Member] | Financial instruments at FVTOCI [member] | ||
ASSETS | ||
Financial assets | 3,970,899 | 3,598,890 |
Recurring Fair Value Measurement [Member] | Financial derivative contracts [member] | ||
ASSETS | ||
Financial assets | 3,982,803 | 3,154,957 |
LIABILITIES | ||
Financial liabilities | 3,673,591 | 2,938,034 |
Non-Recurring Fair Value Measurement [Member] | ||
ASSETS | ||
Financial assets | 26,253,170 | 24,800,985 |
LIABILITIES | ||
Financial liabilities | 29,867,341 | 27,368,510 |
Non-Recurring Fair Value Measurement [Member] | Deposits and other demand liabilities [member] | ||
LIABILITIES | ||
Financial liabilities | 6,197,406 | 4,873,448 |
Non-Recurring Fair Value Measurement [Member] | Cash in process of being cleared [member] | ||
LIABILITIES | ||
Financial liabilities | 154,232 | 164,573 |
Non-Recurring Fair Value Measurement [Member] | Obligations under repurchase agreements [member] | ||
LIABILITIES | ||
Financial liabilities | 638,851 | 559,457 |
Non-Recurring Fair Value Measurement [Member] | Time deposits and other time liabilities [member] | ||
LIABILITIES | ||
Financial liabilities | 11,574,924 | 11,692,076 |
Non-Recurring Fair Value Measurement [Member] | Interbank borrowings [member] | ||
LIABILITIES | ||
Financial liabilities | 3,794,375 | 2,646,176 |
Non-Recurring Fair Value Measurement [Member] | Debt instruments issued [member] | ||
LIABILITIES | ||
Financial liabilities | 7,330,126 | 7,244,551 |
Non-Recurring Fair Value Measurement [Member] | Lease obligations [member] | ||
LIABILITIES | ||
Financial liabilities | 164,304 | 175,263 |
Non-Recurring Fair Value Measurement [Member] | Other financial obligations [Member] | ||
LIABILITIES | ||
Financial liabilities | 13,123 | 12,966 |
Non-Recurring Fair Value Measurement [Member] | Cash and deposits in banks [member] | ||
ASSETS | ||
Financial assets | 3,089,072 | 1,009,681 |
Non-Recurring Fair Value Measurement [Member] | Cash items in process of collection [member] | ||
ASSETS | ||
Financial assets | 173,192 | 231,305 |
Non-Recurring Fair Value Measurement [Member] | Loans and receivables from banks, net [member] | ||
ASSETS | ||
Financial assets | 22,767,597 | 23,313,453 |
Non-Recurring Fair Value Measurement [Member] | Financial Instruments at amortized cost [member] | ||
ASSETS | ||
Financial assets | 110,608 | 114,175 |
Non-Recurring Fair Value Measurement [Member] | Investments under Agreements to Resell [Member] | ||
ASSETS | ||
Financial assets | 105,580 | 75,975 |
Non-Recurring Fair Value Measurement [Member] | Interbank loans [member] | ||
ASSETS | ||
Financial assets | $ 7,121 | $ 56,396 |
Fair Value of Financial Asset_4
Fair Value of Financial Assets and Liabilities - Schedule of Fair Value Measurements of Assets and Liabilities Only for Disclosure Purposes (Non-recurring) (Detail) - Non-Recurring Fair Value Measurement [Member] - IFRS9 [member] - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
ASSETS | ||
Financial assets | $ 26,253,170 | $ 24,800,985 |
LIABILITIES | ||
Financial liabilities | 29,867,341 | 27,368,510 |
Deposits and other demand liabilities [member] | ||
LIABILITIES | ||
Financial liabilities | 6,197,406 | 4,873,448 |
Cash in process of being cleared [member] | ||
LIABILITIES | ||
Financial liabilities | 154,232 | 164,573 |
Obligations under repurchase agreements [member] | ||
LIABILITIES | ||
Financial liabilities | 638,851 | 559,457 |
Time deposits and other time liabilities [member] | ||
LIABILITIES | ||
Financial liabilities | 11,574,924 | 11,692,076 |
Interbank borrowings [member] | ||
LIABILITIES | ||
Financial liabilities | 3,794,375 | 2,646,176 |
Debt instruments issued [member] | ||
LIABILITIES | ||
Financial liabilities | 7,330,126 | 7,244,551 |
Lease obligations [member] | ||
LIABILITIES | ||
Financial liabilities | 164,304 | 175,263 |
Other financial obligations [Member] | ||
LIABILITIES | ||
Financial liabilities | 13,123 | 12,966 |
Cash and deposits in banks [member] | ||
ASSETS | ||
Financial assets | 3,089,072 | 1,009,681 |
Cash items in process of collection [member] | ||
ASSETS | ||
Financial assets | 173,192 | 231,305 |
Investments under Agreements to Resell [Member] | ||
ASSETS | ||
Financial assets | 105,580 | 75,975 |
Interbank loans [member] | ||
ASSETS | ||
Financial assets | $ 7,121 | $ 56,396 |
Fair Value of Financial Asset_5
Fair Value of Financial Assets and Liabilities - Schedule of Fair Value Measurement of Financial Assets and Liabilities (Recurring) (Detail) - Recurring Fair Value Measurement [Member] - IFRS9 [member] - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
ASSETS | ||
Financial assets | $ 8,536,412 | $ 6,937,549 |
LIABILITIES | ||
Financial liabilities | 3,673,591 | 2,938,034 |
Forward Contract [Member] | Derivative Financial Instruments Liabilities [member] | ||
LIABILITIES | ||
Financial liabilities | 433,863 | 504,275 |
Swap contract [member] | Derivative Financial Instruments Liabilities [member] | ||
LIABILITIES | ||
Financial liabilities | 3,238,371 | 2,431,436 |
Call options [member] | Derivative Financial Instruments Liabilities [member] | ||
LIABILITIES | ||
Financial liabilities | 271 | 1,758 |
Put options [member] | Derivative Financial Instruments Liabilities [member] | ||
LIABILITIES | ||
Financial liabilities | 1,086 | 565 |
Trading Portfolio Financial Assets [member] | Financial instruments at fair value through profit and loss [member] | ||
ASSETS | ||
Financial assets | 582,710 | 183,702 |
Trading Portfolio Financial Assets [member] | Chilean Central Bank Securities [member] | ||
ASSETS | ||
Financial assets | 108,042 | 80,898 |
Trading Portfolio Financial Assets [member] | Other Instruments Issued in Chile [Member] | ||
ASSETS | ||
Financial assets | 271 | 23,123 |
Trading Portfolio Financial Assets [member] | Foreign government and central bank instruments [member] | ||
ASSETS | ||
Financial assets | 432,178 | 67,088 |
Trading Portfolio Financial Assets [member] | Other securities issued abroad [member] | ||
ASSETS | ||
Financial assets | 4,861 | 4,390 |
Trading Portfolio Financial Assets [member] | Investments in mutual funds [member] | ||
ASSETS | ||
Financial assets | 35,017 | 5,903 |
Trading Portfolio Financial Assets [member] | Other investments at fair value through profit or loss [member] | ||
ASSETS | ||
Financial assets | 2,341 | 2,300 |
Trading Portfolio Financial Assets [member] | Financial instruments at FVTOCI [member] | ||
ASSETS | ||
Financial assets | 3,970,899 | 3,598,890 |
Financial Investments Available-for-Sale [member] | Foreign government and central bank instruments [member] | ||
ASSETS | ||
Financial assets | 217,185 | 165,927 |
Financial Investments Available-for-Sale [member] | Other securities issued abroad [member] | ||
ASSETS | ||
Financial assets | 394,691 | 716,423 |
Financial Investments Available-for-Sale [member] | Chilean Central Bank and Government Securities [member] | ||
ASSETS | ||
Financial assets | 3,056,179 | 2,174,278 |
Financial Investments Available-for-Sale [member] | Other securities issued in Chile [member] | ||
ASSETS | ||
Financial assets | 296,665 | 536,576 |
Financial Investments Available-for-Sale [member] | Other investments at fair value through other comprehensive income [member] | ||
ASSETS | ||
Financial assets | 6,179 | 5,686 |
Financial derivative contracts [member] | ||
ASSETS | ||
Financial assets | 3,982,803 | 3,154,957 |
LIABILITIES | ||
Financial liabilities | 3,673,591 | 2,938,034 |
Derivative financial instruments | Forward Contract [Member] | ||
ASSETS | ||
Financial assets | 472,208 | 454,300 |
Derivative financial instruments | Swap contract [member] | ||
ASSETS | ||
Financial assets | 3,509,315 | 2,696,635 |
Derivative financial instruments | Call options [member] | ||
ASSETS | ||
Financial assets | 195 | 3,805 |
Derivative financial instruments | Put options [member] | ||
ASSETS | ||
Financial assets | $ 1,085 | $ 217 |
Fair Value of Financial Asset_6
Fair Value of Financial Assets and Liabilities - Measured at Fair Value - Schedule of Financial Derivative Instruments (Detail) - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of financial assets [line items] | |||
CVA | $ (40,971) | $ (28,174) | $ (37,821) |
DVA | 589 | 447 | 340 |
Derivative financial instruments held for hedging [member] | |||
Disclosure of financial assets [line items] | |||
CVA | (2) | ||
DVA | 1 | ||
Derivative financial instruments held for hedging [member] | Cash Flow Hedges [Member] | |||
Disclosure of financial assets [line items] | |||
CVA | (2) | ||
DVA | 1 | ||
Derivative financial instruments held for hedging [member] | Cash Flow Hedges [Member] | Currency Forward Contract [member] | |||
Disclosure of financial assets [line items] | |||
CVA | (2) | ||
DVA | 1 | ||
Derivative financial instruments held for trading [member] | |||
Disclosure of financial assets [line items] | |||
CVA | (40,971) | (28,172) | (37,821) |
DVA | 589 | 446 | 340 |
Derivative financial instruments held for trading [member] | Currency Forward Contract [member] | |||
Disclosure of financial assets [line items] | |||
CVA | (443) | (341) | (127) |
DVA | 205 | 123 | 65 |
Derivative financial instruments held for trading [member] | Currency Swap Contract [Member] | |||
Disclosure of financial assets [line items] | |||
CVA | (36,363) | (4,642) | (31,167) |
DVA | 37 | 295 | 127 |
Derivative financial instruments held for trading [member] | Interest rate swaps contract [member] | |||
Disclosure of financial assets [line items] | |||
CVA | (4,165) | (23,189) | (6,527) |
DVA | $ 347 | $ 28 | $ 148 |
Fair Value of Financial Asset_7
Fair Value of Financial Assets and Liabilities - Schedule of Impacts on the Portfolio of a Recalibration (Detail) - Basis TAB [member] - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
CLP [member] | ||
Disclosure of risk management strategy related to hedge accounting [line items] | ||
TAB 30 | $ 76 | $ 98 |
TAB 90 | 1 | 4 |
TAB 180 | 33 | 39 |
Totals | 110 | 141 |
CLF [member] | ||
Disclosure of risk management strategy related to hedge accounting [line items] | ||
TAB 180 | 15 | 18 |
TAB 360 | 3 | 4 |
Totals | $ 18 | $ 22 |
Fair Value of Financial Asset_8
Fair Value of Financial Assets and Liabilities - Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis (Detail) - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Fair Value [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | $ 6,937,549 | |
Financial liabilities | 2,938,034 | |
Fair Value [Member] | Derivative Financial Instruments Liabilities [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial liabilities | 2,938,034 | |
Financial instruments at fair value through profit and loss [member] | Fair Value [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 183,702 | |
Financial instruments at FVTOCI [member] | Fair Value [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 3,598,890 | |
Financial derivative contracts [member] | Fair Value [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 3,154,957 | |
IFRS9 [member] | Fair Value [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | $ 8,536,412 | |
Financial liabilities | 3,673,591 | |
IFRS9 [member] | Fair Value [Member] | Derivative Financial Instruments Liabilities [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial liabilities | 3,673,591 | |
IFRS9 [member] | Financial instruments at fair value through profit and loss [member] | Fair Value [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 582,710 | |
IFRS9 [member] | Financial instruments at FVTOCI [member] | Fair Value [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 3,970,899 | |
IFRS9 [member] | Financial derivative contracts [member] | Fair Value [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 3,982,803 | |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 8,536,412 | 6,937,549 |
Financial liabilities | 3,673,591 | 2,938,034 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Derivative Financial Instruments Liabilities [member] | Forward Contract [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial liabilities | 433,863 | 504,275 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Derivative Financial Instruments Liabilities [member] | Swap contract [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial liabilities | 3,238,371 | 2,431,436 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Derivative Financial Instruments Liabilities [member] | Call options [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial liabilities | 271 | 1,758 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Derivative Financial Instruments Liabilities [member] | Put options [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial liabilities | 1,086 | 565 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Fair Value [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 8,536,412 | 6,937,549 |
Financial liabilities | 3,673,591 | 2,938,034 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Fair Value [Member] | Derivative Financial Instruments Liabilities [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial liabilities | 3,673,591 | 2,938,034 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Fair Value [Member] | Derivative Financial Instruments Liabilities [member] | Forward Contract [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial liabilities | 433,863 | 504,275 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Fair Value [Member] | Derivative Financial Instruments Liabilities [member] | Swap contract [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial liabilities | 3,238,371 | 2,431,436 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Fair Value [Member] | Derivative Financial Instruments Liabilities [member] | Call options [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial liabilities | 271 | 1,758 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Fair Value [Member] | Derivative Financial Instruments Liabilities [member] | Put options [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial liabilities | 1,086 | 565 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Level 1 [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 4,183,954 | 3,186,616 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Level 2 [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 4,325,193 | 3,723,501 |
Financial liabilities | 3,672,751 | 2,936,915 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Level 2 [Member] | Derivative Financial Instruments Liabilities [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial liabilities | 3,672,751 | 2,936,915 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Level 2 [Member] | Derivative Financial Instruments Liabilities [member] | Forward Contract [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial liabilities | 433,747 | 504,094 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Level 2 [Member] | Derivative Financial Instruments Liabilities [member] | Swap contract [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial liabilities | 3,237,647 | 2,430,498 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Level 2 [Member] | Derivative Financial Instruments Liabilities [member] | Call options [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial liabilities | 271 | 1,758 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Level 2 [Member] | Derivative Financial Instruments Liabilities [member] | Put options [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial liabilities | 1,086 | 565 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Level 3 [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 27,265 | 27,432 |
Financial liabilities | 840 | 1,119 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Level 3 [Member] | Derivative Financial Instruments Liabilities [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial liabilities | 840 | 1,119 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Level 3 [Member] | Derivative Financial Instruments Liabilities [member] | Forward Contract [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial liabilities | 116 | 181 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Level 3 [Member] | Derivative Financial Instruments Liabilities [member] | Swap contract [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial liabilities | 724 | 938 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Financial instruments at fair value through profit and loss [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 582,710 | 183,702 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Financial instruments at fair value through profit and loss [member] | Fair Value [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 582,710 | 183,702 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Financial instruments at fair value through profit and loss [member] | Fair Value [Member] | Chilean Central Bank Securities [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 108,042 | 80,898 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Financial instruments at fair value through profit and loss [member] | Fair Value [Member] | Other securities issued locally [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 271 | 23,123 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Financial instruments at fair value through profit and loss [member] | Fair Value [Member] | Foreign government and central bank instruments [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 432,178 | 67,088 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Financial instruments at fair value through profit and loss [member] | Fair Value [Member] | Other securities issued abroad [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 4,861 | 4,390 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Financial instruments at fair value through profit and loss [member] | Fair Value [Member] | Investments in mutual funds [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 35,017 | 5,903 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Financial instruments at fair value through profit and loss [member] | Fair Value [Member] | Other investments at fair value through profit or loss [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 2,341 | 2,300 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Financial instruments at fair value through profit and loss [member] | Level 1 [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 575,237 | 177,009 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Financial instruments at fair value through profit and loss [member] | Level 1 [Member] | Chilean Central Bank Securities [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 108,042 | 80,898 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Financial instruments at fair value through profit and loss [member] | Level 1 [Member] | Other securities issued locally [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 23,120 | |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Financial instruments at fair value through profit and loss [member] | Level 1 [Member] | Foreign government and central bank instruments [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 432,178 | 67,088 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Financial instruments at fair value through profit and loss [member] | Level 1 [Member] | Investments in mutual funds [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 35,017 | 5,903 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Financial instruments at fair value through profit and loss [member] | Level 2 [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 7,473 | 6,693 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Financial instruments at fair value through profit and loss [member] | Level 2 [Member] | Other securities issued locally [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 271 | 3 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Financial instruments at fair value through profit and loss [member] | Level 2 [Member] | Other securities issued abroad [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 4,861 | 4,390 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Financial instruments at fair value through profit and loss [member] | Level 2 [Member] | Other investments at fair value through profit or loss [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 2,341 | 2,300 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Financial instruments at FVTOCI [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 3,970,899 | 3,598,890 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Financial instruments at FVTOCI [member] | Fair Value [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 3,970,899 | 3,598,890 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Financial instruments at FVTOCI [member] | Fair Value [Member] | Chilean Central Bank Securities [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 3,056,179 | 2,174,278 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Financial instruments at FVTOCI [member] | Fair Value [Member] | Other securities issued locally [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 296,665 | 536,576 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Financial instruments at FVTOCI [member] | Fair Value [Member] | Foreign government and central bank instruments [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 217,185 | 165,927 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Financial instruments at FVTOCI [member] | Fair Value [Member] | Other securities issued abroad [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 394,691 | 716,423 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Financial instruments at FVTOCI [member] | Fair Value [Member] | Other investments at fair value through other comprehensive income [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 6,179 | 5,686 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Financial instruments at FVTOCI [member] | Level 1 [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 3,608,717 | 3,009,607 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Financial instruments at FVTOCI [member] | Level 1 [Member] | Chilean Central Bank Securities [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 3,056,179 | 2,174,278 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Financial instruments at FVTOCI [member] | Level 1 [Member] | Foreign government and central bank instruments [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 217,185 | 165,927 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Financial instruments at FVTOCI [member] | Level 1 [Member] | Other securities issued abroad [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 335,353 | 669,402 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Financial instruments at FVTOCI [member] | Level 2 [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 362,182 | 589,283 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Financial instruments at FVTOCI [member] | Level 2 [Member] | Other securities issued locally [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 296,665 | 536,576 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Financial instruments at FVTOCI [member] | Level 2 [Member] | Other securities issued abroad [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 59,338 | 47,021 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Financial instruments at FVTOCI [member] | Level 2 [Member] | Other investments at fair value through other comprehensive income [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 6,179 | 5,686 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Financial derivative contracts [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 3,982,803 | 3,154,957 |
Financial liabilities | 3,673,591 | 2,938,034 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Financial derivative contracts [member] | Fair Value [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 3,982,803 | 3,154,957 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Financial derivative contracts [member] | Fair Value [Member] | Forward Contract [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 472,208 | 454,299 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Financial derivative contracts [member] | Fair Value [Member] | Swap contract [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 3,509,315 | 2,696,636 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Financial derivative contracts [member] | Fair Value [Member] | Call options [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 195 | 3,805 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Financial derivative contracts [member] | Fair Value [Member] | Put options [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 1,085 | 217 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Financial derivative contracts [member] | Level 2 [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 3,955,538 | 3,127,525 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Financial derivative contracts [member] | Level 2 [Member] | Forward Contract [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 468,632 | 449,239 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Financial derivative contracts [member] | Level 2 [Member] | Swap contract [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 3,485,626 | 2,674,264 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Financial derivative contracts [member] | Level 2 [Member] | Call options [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 195 | 3,805 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Financial derivative contracts [member] | Level 2 [Member] | Put options [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 1,085 | 217 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Financial derivative contracts [member] | Level 3 [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 27,265 | 27,432 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Financial derivative contracts [member] | Level 3 [Member] | Forward Contract [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 3,576 | 5,060 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Financial derivative contracts [member] | Level 3 [Member] | Swap contract [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 23,689 | 22,372 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Derivative financial instruments | Forward Contract [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 472,208 | 454,300 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Derivative financial instruments | Swap contract [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 3,509,315 | 2,696,635 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Derivative financial instruments | Call options [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 195 | 3,805 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Derivative financial instruments | Put options [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 1,085 | 217 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Trading Portfolio Financial Assets [member] | Chilean Central Bank Securities [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 108,042 | 80,898 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Trading Portfolio Financial Assets [member] | Foreign government and central bank instruments [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 432,178 | 67,088 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Trading Portfolio Financial Assets [member] | Other securities issued abroad [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 4,861 | 4,390 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Trading Portfolio Financial Assets [member] | Investments in mutual funds [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 35,017 | 5,903 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Trading Portfolio Financial Assets [member] | Other investments at fair value through profit or loss [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 2,341 | 2,300 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Financial Investments Available-for-Sale [member] | Foreign government and central bank instruments [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 217,185 | 165,927 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Financial Investments Available-for-Sale [member] | Other securities issued abroad [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 394,691 | 716,423 |
Recurring Fair Value Measurement [Member] | IFRS9 [member] | Financial Investments Available-for-Sale [member] | Other investments at fair value through other comprehensive income [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | $ 6,179 | $ 5,686 |
Fair Value of Financial Asset_9
Fair Value of Financial Assets and Liabilities - Schedule of Reconciliation (Detail) - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of fair value measurement of assets [line items] | ||
Opening balance | $ 33,610,056 | |
Closing balance | 35,486,448 | $ 33,610,056 |
Opening balance | 30,283,718 | |
Closing balance | 33,103,113 | 30,283,718 |
Fair Value [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 6,937,549 | |
Financial liabilities | 2,938,034 | |
Fair Value [Member] | Financial instruments at fair value through profit and loss [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 183,702 | |
Fair Value [Member] | Financial instruments at FVTOCI [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 3,598,890 | |
Fair Value [Member] | Financial derivative contracts [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 3,154,957 | |
Fair Value [Member] | Derivative Financial Instruments Liabilities [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial liabilities | 2,938,034 | |
Fair Value [Member] | IFRS9 [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 8,536,412 | |
Financial liabilities | 3,673,591 | |
Fair Value [Member] | IFRS9 [member] | Financial instruments at fair value through profit and loss [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 582,710 | |
Fair Value [Member] | IFRS9 [member] | Financial instruments at FVTOCI [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 3,970,899 | |
Fair Value [Member] | IFRS9 [member] | Financial derivative contracts [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets | 3,982,803 | |
Fair Value [Member] | IFRS9 [member] | Derivative Financial Instruments Liabilities [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial liabilities | 3,673,591 | |
Level 3 [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Opening balance | 27,432 | 27,156 |
Gain (loss) recognized in profit or loss | 28,603 | 17,328 |
Purchases, sales and agreements | (28,770) | (17,052) |
Closing balance | 27,265 | 27,432 |
Opening balance | 1,119 | 569 |
Gain (loss) recognized in profit or loss | 725 | 3,208 |
Net of purchases, sales and agreements | (1,004) | (2,658) |
Closing balance | 840 | 1,119 |
Level 3 [Member] | Financial derivative contracts [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Opening balance | 27,432 | 27,156 |
Gain (loss) recognized in profit or loss | 28,603 | 17,328 |
Purchases, sales and agreements | (28,770) | (17,052) |
Closing balance | 27,265 | 27,432 |
Level 3 [Member] | Financial derivative contracts [member] | Forward Contract [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Opening balance | 5,060 | 618 |
Gain (loss) recognized in profit or loss | 23,803 | 12,398 |
Purchases, sales and agreements | (25,287) | (7,956) |
Closing balance | 3,576 | 5,060 |
Level 3 [Member] | Financial derivative contracts [member] | Swap contract [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Opening balance | 22,372 | 26,538 |
Gain (loss) recognized in profit or loss | 4,800 | 4,930 |
Purchases, sales and agreements | (3,483) | (9,096) |
Closing balance | 23,689 | 22,372 |
Level 3 [Member] | Derivative Financial Instruments Liabilities [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Opening balance | 1,119 | 569 |
Gain (loss) recognized in profit or loss | 725 | 3,208 |
Net of purchases, sales and agreements | (1,004) | (2,658) |
Closing balance | 840 | 1,119 |
Level 3 [Member] | Derivative Financial Instruments Liabilities [member] | Forward Contract [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Opening balance | 181 | 49 |
Gain (loss) recognized in profit or loss | 2,397 | 2,565 |
Net of purchases, sales and agreements | (2,462) | (2,433) |
Closing balance | 116 | 181 |
Level 3 [Member] | Derivative Financial Instruments Liabilities [member] | Swap contract [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Opening balance | 938 | 520 |
Gain (loss) recognized in profit or loss | (1,672) | 643 |
Net of purchases, sales and agreements | 1,458 | (225) |
Closing balance | $ 724 | $ 938 |
Fair Value of Financial Asse_10
Fair Value of Financial Assets and Liabilities - Schedule of Classifies Assets and Liabilities Measured at Fair Value on a Non-recurring Basis (Detail) - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Fair Value [Member] | ||
ASSETS | ||
Financial assets | $ 6,937,549 | |
LIABILITIES | ||
Financial liabilities | 2,938,034 | |
Fair Value [Member] | Non-Recurring Fair Value Measurement [Member] | ||
ASSETS | ||
Financial assets | $ 26,253,170 | 24,800,985 |
LIABILITIES | ||
Financial liabilities | 29,867,341 | 27,368,510 |
Fair Value [Member] | Deposits and other demand liabilities [member] | Non-Recurring Fair Value Measurement [Member] | ||
LIABILITIES | ||
Financial liabilities | 6,197,406 | 4,873,448 |
Fair Value [Member] | Cash in process of being cleared [member] | Non-Recurring Fair Value Measurement [Member] | ||
LIABILITIES | ||
Financial liabilities | 154,232 | 164,573 |
Fair Value [Member] | Obligations under repurchase agreements [member] | Non-Recurring Fair Value Measurement [Member] | ||
LIABILITIES | ||
Financial liabilities | 638,851 | 559,457 |
Fair Value [Member] | Time deposits and other time liabilities [member] | Non-Recurring Fair Value Measurement [Member] | ||
LIABILITIES | ||
Financial liabilities | 11,574,924 | 11,692,076 |
Fair Value [Member] | Interbank borrowings [member] | Non-Recurring Fair Value Measurement [Member] | ||
LIABILITIES | ||
Financial liabilities | 3,794,375 | 2,646,176 |
Fair Value [Member] | Debt instruments issued [member] | Non-Recurring Fair Value Measurement [Member] | ||
LIABILITIES | ||
Financial liabilities | 7,330,126 | 7,244,551 |
Fair Value [Member] | Lease obligations [member] | Non-Recurring Fair Value Measurement [Member] | ||
LIABILITIES | ||
Financial liabilities | 164,304 | 175,263 |
Fair Value [Member] | Other financial obligations [Member] | Non-Recurring Fair Value Measurement [Member] | ||
LIABILITIES | ||
Financial liabilities | 13,123 | 12,966 |
Fair Value [Member] | Cash and deposits in banks [member] | Non-Recurring Fair Value Measurement [Member] | ||
ASSETS | ||
Financial assets | 3,089,072 | 1,009,681 |
Fair Value [Member] | Cash In The Process Of Collection [member] | Non-Recurring Fair Value Measurement [Member] | ||
ASSETS | ||
Financial assets | 173,192 | 231,305 |
Fair Value [Member] | Investments under Agreements to Resell [Member] | Non-Recurring Fair Value Measurement [Member] | ||
ASSETS | ||
Financial assets | 105,580 | 23,313,453 |
Fair Value [Member] | Loans and receivables from banks, net [member] | Non-Recurring Fair Value Measurement [Member] | ||
ASSETS | ||
Financial assets | 7,121 | 56,396 |
Fair Value [Member] | Loans and receivables from customers, net [member] | Non-Recurring Fair Value Measurement [Member] | ||
ASSETS | ||
Financial assets | 75,975 | |
Fair Value [Member] | Loans and accounts receivable at amortized cost [member] | Non-Recurring Fair Value Measurement [Member] | ||
ASSETS | ||
Financial assets | 22,767,597 | |
Fair Value [Member] | Financial Instruments at amortized cost [member] | Non-Recurring Fair Value Measurement [Member] | ||
ASSETS | ||
Financial assets | 110,608 | 114,175 |
Level 1 [Member] | Non-Recurring Fair Value Measurement [Member] | ||
ASSETS | ||
Financial assets | 3,485,573 | 1,487,532 |
LIABILITIES | ||
Financial liabilities | 10,797,987 | 8,256,620 |
Level 1 [Member] | Deposits and other demand liabilities [member] | Non-Recurring Fair Value Measurement [Member] | ||
LIABILITIES | ||
Financial liabilities | 6,197,406 | 4,873,448 |
Level 1 [Member] | Cash in process of being cleared [member] | Non-Recurring Fair Value Measurement [Member] | ||
LIABILITIES | ||
Financial liabilities | 154,232 | 164,573 |
Level 1 [Member] | Obligations under repurchase agreements [member] | Non-Recurring Fair Value Measurement [Member] | ||
LIABILITIES | ||
Financial liabilities | 638,851 | 559,457 |
Level 1 [Member] | Interbank borrowings [member] | Non-Recurring Fair Value Measurement [Member] | ||
LIABILITIES | ||
Financial liabilities | 3,794,375 | 2,646,176 |
Level 1 [Member] | Other financial obligations [Member] | Non-Recurring Fair Value Measurement [Member] | ||
LIABILITIES | ||
Financial liabilities | 13,123 | 12,966 |
Level 1 [Member] | Cash and deposits in banks [member] | Non-Recurring Fair Value Measurement [Member] | ||
ASSETS | ||
Financial assets | 3,089,072 | 1,009,681 |
Level 1 [Member] | Cash In The Process Of Collection [member] | Non-Recurring Fair Value Measurement [Member] | ||
ASSETS | ||
Financial assets | 173,192 | 231,305 |
Level 1 [Member] | Investments under Agreements to Resell [Member] | Non-Recurring Fair Value Measurement [Member] | ||
ASSETS | ||
Financial assets | 105,580 | |
Level 1 [Member] | Loans and receivables from banks, net [member] | Non-Recurring Fair Value Measurement [Member] | ||
ASSETS | ||
Financial assets | 7,121 | 56,396 |
Level 1 [Member] | Loans and receivables from customers, net [member] | Non-Recurring Fair Value Measurement [Member] | ||
ASSETS | ||
Financial assets | 75,975 | |
Level 1 [Member] | Financial Instruments at amortized cost [member] | Non-Recurring Fair Value Measurement [Member] | ||
ASSETS | ||
Financial assets | 110,608 | 114,175 |
Level 2 [Member] | Non-Recurring Fair Value Measurement [Member] | ||
ASSETS | ||
Financial assets | 191 | |
LIABILITIES | ||
Financial liabilities | 19,069,354 | 19,111,890 |
Level 2 [Member] | Time deposits and other time liabilities [member] | Non-Recurring Fair Value Measurement [Member] | ||
LIABILITIES | ||
Financial liabilities | 11,574,924 | 11,692,076 |
Level 2 [Member] | Debt instruments issued [member] | Non-Recurring Fair Value Measurement [Member] | ||
LIABILITIES | ||
Financial liabilities | 7,330,126 | 7,244,551 |
Level 2 [Member] | Lease obligations [member] | Non-Recurring Fair Value Measurement [Member] | ||
LIABILITIES | ||
Financial liabilities | 164,304 | 175,263 |
Level 2 [Member] | Loans and receivables from banks, net [member] | Non-Recurring Fair Value Measurement [Member] | ||
ASSETS | ||
Financial assets | 191 | |
Level 3 [Member] | Non-Recurring Fair Value Measurement [Member] | ||
ASSETS | ||
Financial assets | 22,767,597 | 23,313,644 |
Level 3 [Member] | Investments under Agreements to Resell [Member] | Non-Recurring Fair Value Measurement [Member] | ||
ASSETS | ||
Financial assets | 23,313,453 | |
Level 3 [Member] | Loans and receivables from banks, net [member] | Non-Recurring Fair Value Measurement [Member] | ||
ASSETS | ||
Financial assets | $ 191 | |
Level 3 [Member] | Loans and accounts receivable at amortized cost [member] | Non-Recurring Fair Value Measurement [Member] | ||
ASSETS | ||
Financial assets | $ 22,767,597 |
Risk Management - Summary of Cr
Risk Management - Summary of Criteria used for Chile (Detail) | 12 Months Ended |
Dec. 31, 2020 | |
Group [member] | Colombia [member] | Leasing [member] | |
Disclosure of Credit risk measurement [line items] | |
% of absolute increase in lifetime PD | 5056.00% |
% of relative increase in lifetime PD | 236.20% |
Group [member] | Colombia [member] | Payroll deductible loan [member] | |
Disclosure of Credit risk measurement [line items] | |
% of absolute increase in lifetime PD | 5344.00% |
% of relative increase in lifetime PD | 424.01% |
Group [member] | Colombia [member] | Revolving line of credit [member] | |
Disclosure of Credit risk measurement [line items] | |
% of absolute increase in lifetime PD | 4095.00% |
% of relative increase in lifetime PD | 221.72% |
Group [member] | Colombia [member] | Overdraft limit [member] | |
Disclosure of Credit risk measurement [line items] | |
% of absolute increase in lifetime PD | 5532.00% |
% of relative increase in lifetime PD | 2.29% |
Group [member] | Colombia [member] | Credit Card [member] | |
Disclosure of Credit risk measurement [line items] | |
% of absolute increase in lifetime PD | 2383.00% |
% of relative increase in lifetime PD | 42.33% |
Group [member] | Colombia [member] | Mortgage loan [member] | |
Disclosure of Credit risk measurement [line items] | |
% of absolute increase in lifetime PD | 261.00% |
% of relative increase in lifetime PD | 137.24% |
Group [member] | Colombia [member] | Personal debt restructuring [member] | |
Disclosure of Credit risk measurement [line items] | |
% of absolute increase in lifetime PD | 4169.00% |
% of relative increase in lifetime PD | 879.62% |
Group [member] | Colombia [member] | Other loans [member] | |
Disclosure of Credit risk measurement [line items] | |
% of absolute increase in lifetime PD | 5826.00% |
% of relative increase in lifetime PD | 286.72% |
Corporate [Member] | Colombia [member] | Without information [member] | |
Disclosure of Credit risk measurement [line items] | |
% of absolute increase in lifetime PD | 6909.00% |
% of relative increase in lifetime PD | 2558.55% |
Corporate [Member] | Colombia [member] | Small Company [member] | |
Disclosure of Credit risk measurement [line items] | |
% of absolute increase in lifetime PD | 1751.00% |
% of relative increase in lifetime PD | 2027.22% |
Corporate [Member] | Colombia [member] | Small Company [member] | |
Disclosure of Credit risk measurement [line items] | |
% of absolute increase in lifetime PD | 2008.00% |
% of relative increase in lifetime PD | 1156.16% |
Corporate [Member] | Colombia [member] | Medium Company [member] | |
Disclosure of Credit risk measurement [line items] | |
% of absolute increase in lifetime PD | 492.00% |
% of relative increase in lifetime PD | 1181.62% |
Corporate [Member] | Colombia [member] | Medium Company [member] | |
Disclosure of Credit risk measurement [line items] | |
% of absolute increase in lifetime PD | 946.00% |
% of relative increase in lifetime PD | 81.69% |
Corporate [Member] | Colombia [member] | Large Company [member] | |
Disclosure of Credit risk measurement [line items] | |
% of absolute increase in lifetime PD | 597.00% |
% of relative increase in lifetime PD | 738.75% |
Corporate [Member] | Colombia [member] | Low Default [member] | |
Disclosure of Credit risk measurement [line items] | |
% of absolute increase in lifetime PD | 161.00% |
% of relative increase in lifetime PD | 149.62% |
Corporate [Member] | Colombia [member] | Low Defaults Government And Financial [Member] | |
Disclosure of Credit risk measurement [line items] | |
% of absolute increase in lifetime PD | 4.00% |
% of relative increase in lifetime PD | 621.57% |
Corporate [Member] | Stage1 [member] | A1, A2, A3 [member] | |
Disclosure of Credit risk measurement [line items] | |
Days of arrears to the end of the month | 29 days |
Corporate [Member] | Stage1 [member] | A1, A2, A3 [member] | Bottom of Range [Member] | |
Disclosure of Credit risk measurement [line items] | |
PD ranges | 0.04% |
Corporate [Member] | Stage1 [member] | A1, A2, A3 [member] | Top of Range [Member] | |
Disclosure of Credit risk measurement [line items] | |
PD ranges | 0.25% |
Corporate [Member] | Stage1 [member] | A4 [member] | |
Disclosure of Credit risk measurement [line items] | |
PD ranges | 2.00% |
Days of arrears to the end of the month | 29 days |
Corporate [Member] | Stage1 [member] | A5, A6 [member] | |
Disclosure of Credit risk measurement [line items] | |
Days of arrears to the end of the month | 29 days |
Corporate [Member] | Stage1 [member] | A5, A6 [member] | Bottom of Range [Member] | |
Disclosure of Credit risk measurement [line items] | |
PD ranges | 4.75% |
Corporate [Member] | Stage1 [member] | A5, A6 [member] | Top of Range [Member] | |
Disclosure of Credit risk measurement [line items] | |
PD ranges | 10.00% |
Corporate [Member] | Stage 2 [member] | B1, B2, B3, [member] | Bottom of Range [Member] | |
Disclosure of Credit risk measurement [line items] | |
PD ranges | 15.00% |
Days of arrears to the end of the month | 30 days |
Corporate [Member] | Stage 2 [member] | B1, B2, B3, [member] | Top of Range [Member] | |
Disclosure of Credit risk measurement [line items] | |
PD ranges | 45.00% |
Days of arrears to the end of the month | 89 days |
Corporate [Member] | Stage 3 [member] | B4, C1, C2, C3, C4, C5, C6 [member] | |
Disclosure of Credit risk measurement [line items] | |
PD ranges | 100.00% |
Days of arrears to the end of the month | 90 days |
IFRS9 [member] | Corporate [Member] | Stage1 [member] | A1, A2, A3 [member] | |
Disclosure of Credit risk measurement [line items] | |
PD ranges | 0.13% |
IFRS9 [member] | Corporate [Member] | Stage1 [member] | A4 [member] | |
Disclosure of Credit risk measurement [line items] | |
PD ranges | 1.62% |
IFRS9 [member] | Corporate [Member] | Stage1 [member] | A5, A6 [member] | |
Disclosure of Credit risk measurement [line items] | |
PD ranges | 3.52% |
IFRS9 [member] | Corporate [Member] | Stage 2 [member] | B1, B2, B3, [member] | |
Disclosure of Credit risk measurement [line items] | |
PD ranges | 23.05% |
IFRS9 [member] | Corporate [Member] | Stage 3 [member] | B4, C1, C2, C3, C4, C5, C6 [member] | |
Disclosure of Credit risk measurement [line items] | |
PD ranges | 100.00% |
Risk Management - Summary of Pr
Risk Management - Summary of Principal Macroeconomic Indicators Included in Economic Scenarios (Detail) | 12 Months Ended | |||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Colombia [member] | Base [member] | ||||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | ||||
GDP growth | 3.29% | 3.54% | 1.45% | |
Unemployment rate | 11.95% | 13.65% | 14.36% | |
Consumer's Price Index | 3 | 3 | 3 | |
Benchmark interest rates | 4.50% | 3.50% | 2.00% | |
Currency exchange rate | 3,600 | 3,600 | 3,650 | |
Colombia [member] | Range of upside scenarios [member] | ||||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | ||||
GDP growth | 4.39% | 4.64% | 1.85% | |
Unemployment rate | 9.95% | 11.65% | 12.36% | |
Consumer's Price Index | 4.20 | 3.84 | 3.48 | |
Benchmark interest rates | 5.00% | 4.75% | 3.25% | |
Currency exchange rate | 3,300 | 3,400 | 3,450 | |
Colombia [member] | Range of downside scenarios [member] | ||||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | ||||
GDP growth | 2.19% | 2.44% | 0.35% | |
Unemployment rate | 13.95% | 15.65% | 16.36% | |
Consumer's Price Index | 1.80 | 2.16 | 2.52 | |
Benchmark interest rates | 3.50% | 2.00% | 1.25% | |
Currency exchange rate | 3,800 | 3,900 | 3,950 | |
2020 [member] | Chile [member] | Q1 [member] | Base [member] | ||||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | ||||
Unemployment rate | 8.73% | |||
Consumer's Price Index | 107.66 | |||
Interbank interest rate | 0.50% | |||
Copper | 760 | |||
2020 [member] | Chile [member] | Q1 [member] | Range of upside scenarios [member] | ||||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | ||||
Unemployment rate | 10.98% | |||
Consumer's Price Index | 108.93 | |||
Interbank interest rate | 0.50% | |||
Copper | 788.75 | |||
2020 [member] | Chile [member] | Q1 [member] | Range of downside scenarios [member] | ||||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | ||||
Unemployment rate | 7.77% | |||
Consumer's Price Index | 107.16 | |||
Interbank interest rate | 0.50% | |||
Copper | 713.75 | |||
2020 [member] | Chile [member] | Q2 [member] | Base [member] | ||||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | ||||
Unemployment rate | 8.89% | |||
Consumer's Price Index | 108.18 | |||
Interbank interest rate | 0.50% | |||
Copper | 760 | |||
2020 [member] | Chile [member] | Q2 [member] | Range of upside scenarios [member] | ||||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | ||||
Unemployment rate | 10.69% | |||
Consumer's Price Index | 108.85 | |||
Interbank interest rate | 0.50% | |||
Copper | 802.50 | |||
2020 [member] | Chile [member] | Q2 [member] | Range of downside scenarios [member] | ||||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | ||||
Unemployment rate | 7.81% | |||
Consumer's Price Index | 107.24 | |||
Interbank interest rate | 0.50% | |||
Copper | 712.50 | |||
2020 [member] | Chile [member] | Q3 [member] | Base [member] | ||||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | ||||
Unemployment rate | 8.53% | |||
Consumer's Price Index | 108.54 | |||
Interbank interest rate | 0.50% | |||
Copper | 760 | |||
2020 [member] | Chile [member] | Q3 [member] | Range of upside scenarios [member] | ||||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | ||||
Unemployment rate | 10.58% | |||
Consumer's Price Index | 108.92 | |||
Interbank interest rate | 0.50% | |||
Copper | 816.25 | |||
2020 [member] | Chile [member] | Q3 [member] | Range of downside scenarios [member] | ||||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | ||||
Unemployment rate | 7.45% | |||
Consumer's Price Index | 107.70 | |||
Interbank interest rate | 0.50% | |||
Copper | 711.25 | |||
2020 [member] | Chile [member] | Q4 [member] | Base [member] | ||||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | ||||
Unemployment rate | 8.15% | |||
Consumer's Price Index | 109.46 | |||
Interbank interest rate | 0.50% | |||
Copper | 760 | |||
2020 [member] | Chile [member] | Q4 [member] | Range of upside scenarios [member] | ||||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | ||||
Unemployment rate | 10.35% | |||
Consumer's Price Index | 110.93 | |||
Interbank interest rate | 0.75% | |||
Copper | 830 | |||
2020 [member] | Chile [member] | Q4 [member] | Range of downside scenarios [member] | ||||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | ||||
Unemployment rate | 6.95% | |||
Consumer's Price Index | 108.58 | |||
Interbank interest rate | 0.50% | |||
Copper | 710 | |||
2021 [member] | Chile [member] | Q1 [member] | Base [member] | ||||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | ||||
Unemployment rate | 7.53% | |||
Consumer's Price Index | 111.02 | |||
Interbank interest rate | 0.50% | |||
Copper | 760 | |||
2021 [member] | Chile [member] | Q1 [member] | Range of upside scenarios [member] | ||||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | ||||
Unemployment rate | 9.08% | |||
Consumer's Price Index | 112.81 | |||
Interbank interest rate | 1.00% | |||
Copper | 830 | |||
2021 [member] | Chile [member] | Q1 [member] | Range of downside scenarios [member] | ||||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | ||||
Unemployment rate | 6.73% | |||
Consumer's Price Index | 109.70 | |||
Interbank interest rate | 0.50% | |||
Copper | 710 | |||
2021 [member] | Chile [member] | Q2 [member] | Base [member] | ||||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | ||||
Unemployment rate | 7.69% | |||
Consumer's Price Index | 111.46 | |||
Interbank interest rate | 0.75% | |||
Copper | 760 | |||
2021 [member] | Chile [member] | Q2 [member] | Range of upside scenarios [member] | ||||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | ||||
Unemployment rate | 9.19% | |||
Consumer's Price Index | 112.49 | |||
Interbank interest rate | 1.50% | |||
Copper | 830 | |||
2021 [member] | Chile [member] | Q2 [member] | Range of downside scenarios [member] | ||||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | ||||
Unemployment rate | 6.89% | |||
Consumer's Price Index | 109.91 | |||
Interbank interest rate | 0.50% | |||
Copper | 710 | |||
2021 [member] | Chile [member] | Q3 [member] | Base [member] | ||||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | ||||
Unemployment rate | 7.33% | |||
Consumer's Price Index | 112.01 | |||
Interbank interest rate | 1.00% | |||
Copper | 760 | |||
2021 [member] | Chile [member] | Q3 [member] | Range of upside scenarios [member] | ||||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | ||||
Unemployment rate | 8.85% | |||
Consumer's Price Index | 112.78 | |||
Interbank interest rate | 2.00% | |||
Copper | 830 | |||
2021 [member] | Chile [member] | Q3 [member] | Range of downside scenarios [member] | ||||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | ||||
Unemployment rate | 6.53% | |||
Consumer's Price Index | 110.39 | |||
Interbank interest rate | 0.50% | |||
Copper | 710 | |||
2021 [member] | Chile [member] | Q4 [member] | Base [member] | ||||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | ||||
Unemployment rate | 6.95% | |||
Consumer's Price Index | 112.75 | |||
Interbank interest rate | 1.25% | |||
Copper | 760 | |||
2021 [member] | Chile [member] | Q4 [member] | Range of upside scenarios [member] | ||||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | ||||
Unemployment rate | 8.39% | |||
Consumer's Price Index | 114.81 | |||
Interbank interest rate | 2.50% | |||
Copper | 830 | |||
2021 [member] | Chile [member] | Q4 [member] | Range of downside scenarios [member] | ||||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | ||||
Unemployment rate | 6.15% | |||
Consumer's Price Index | 111.30 | |||
Interbank interest rate | 0.50% | |||
Copper | 710 | |||
2022 [Member] | Chile [member] | Q1 [member] | Base [member] | ||||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | ||||
Unemployment rate | 7.03% | |||
Consumer's Price Index | 114.35 | |||
Interbank interest rate | 1.50% | |||
Copper | 757.50 | |||
2022 [Member] | Chile [member] | Q1 [member] | Range of upside scenarios [member] | ||||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | ||||
Unemployment rate | 8.53% | |||
Consumer's Price Index | 116.70 | |||
Interbank interest rate | 3.00% | |||
Copper | 822.50 | |||
2022 [Member] | Chile [member] | Q1 [member] | Range of downside scenarios [member] | ||||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | ||||
Unemployment rate | 6.15% | |||
Consumer's Price Index | 112.50 | |||
Interbank interest rate | 0.50% | |||
Copper | 707.50 | |||
2022 [Member] | Chile [member] | Q2 [member] | Base [member] | ||||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | ||||
Unemployment rate | 7.19% | |||
Consumer's Price Index | 114.79 | |||
Interbank interest rate | 2.00% | |||
Copper | 755 | |||
2022 [Member] | Chile [member] | Q2 [member] | Range of upside scenarios [member] | ||||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | ||||
Unemployment rate | 8.72% | |||
Consumer's Price Index | 116.32 | |||
Interbank interest rate | 3.50% | |||
Copper | 815 | |||
2022 [Member] | Chile [member] | Q2 [member] | Range of downside scenarios [member] | ||||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | ||||
Unemployment rate | 6.37% | |||
Consumer's Price Index | 112.76 | |||
Interbank interest rate | 0.75% | |||
Copper | 705 | |||
2022 [Member] | Chile [member] | Q3 [member] | Base [member] | ||||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | ||||
Unemployment rate | 6.83% | |||
Consumer's Price Index | 115.37 | |||
Interbank interest rate | 2.50% | |||
Copper | 752.50 | |||
2022 [Member] | Chile [member] | Q3 [member] | Range of upside scenarios [member] | ||||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | ||||
Unemployment rate | 8.33% | |||
Consumer's Price Index | 116.55 | |||
Interbank interest rate | 4.00% | |||
Copper | 807.50 | |||
2022 [Member] | Chile [member] | Q3 [member] | Range of downside scenarios [member] | ||||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | ||||
Unemployment rate | 6.05% | |||
Consumer's Price Index | 113.32 | |||
Interbank interest rate | 1.00% | |||
Copper | 702.50 | |||
2022 [Member] | Chile [member] | Q4 [member] | Base [member] | ||||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | ||||
Unemployment rate | 6.45% | |||
Consumer's Price Index | 116.14 | |||
Interbank interest rate | 3.00% | |||
Copper | 745 | |||
2022 [Member] | Chile [member] | Q4 [member] | Range of upside scenarios [member] | ||||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | ||||
Unemployment rate | 7.91% | |||
Consumer's Price Index | 118.60 | |||
Interbank interest rate | 4.00% | |||
Copper | 775 | |||
2022 [Member] | Chile [member] | Q4 [member] | Range of downside scenarios [member] | ||||
Disclosure of Primary Macroeconomic Drivers of Credit Losses [line items] | ||||
Unemployment rate | 5.73% | |||
Consumer's Price Index | 114.30 | |||
Interbank interest rate | 1.50% | |||
Copper | 715 |
Risk Management - Summary of EC
Risk Management - Summary of ECL Coverage of Loans and Accounts Receivable at Amortized Cost Subject to Significant Measurement Uncertainty (Detail) - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of credit risk exposure [line items] | ||
Loans and accounts receivable at amortized cost | $ 21,576,108 | $ 22,254,697 |
Chile [member] | ||
Disclosure of credit risk exposure [line items] | ||
Reported ECL | 737,016 | |
Loans and accounts receivable at amortized cost | $ 18,250,479 | |
Expected credit loss rate | 4.04% | |
Chile [member] | Consensus upside scenario [member] | ||
Disclosure of credit risk exposure [line items] | ||
Expected credit loss rate | 3.95% | |
Chile [member] | Consensus central scenario [member] | ||
Disclosure of credit risk exposure [line items] | ||
Expected credit loss rate | 4.01% | |
Chile [member] | Consensus downside scenario [member] | ||
Disclosure of credit risk exposure [line items] | ||
Expected credit loss rate | 4.13% | |
Colombia [member] | ||
Disclosure of credit risk exposure [line items] | ||
Reported ECL | $ 304,848 | |
Loans and accounts receivable at amortized cost | $ 4,367,502 | |
Expected credit loss rate | 6.98% | |
Colombia [member] | Consensus upside scenario [member] | ||
Disclosure of credit risk exposure [line items] | ||
Expected credit loss rate | 6.70% | |
Colombia [member] | Consensus central scenario [member] | ||
Disclosure of credit risk exposure [line items] | ||
Expected credit loss rate | 6.96% | |
Colombia [member] | Consensus downside scenario [member] | ||
Disclosure of credit risk exposure [line items] | ||
Expected credit loss rate | 7.16% |
Risk Management - Schedule of C
Risk Management - Schedule of Credit Quality by Financial Asset Class (Detail) - CLP ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of provision matrix [line items] | ||
% of over total portfolio | 100.00% | |
Credit Risk [Member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | $ 22,619,167 | $ 23,134,814 |
% over total allowance | 100.00% | |
Credit Risk [Member] | Commercial loans [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | 14,809,703 | $ 15,460,544 |
Credit Risk [Member] | Mortgages loans [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | 2,492,464 | 4,876,041 |
Credit Risk [Member] | Consumer loans [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | 5,317,000 | 2,798,229 |
IFRS9 [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | $ 22,617,981 | |
% of over total portfolio | 100.00% | |
Allowance | $ (1,041,873) | |
% over total allowance | 100.00% | |
IFRS9 [member] | Individually assessed for credit losses [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | $ 13,508,468 | |
% of over total portfolio | 58.39% | |
Allowance | $ (434,665) | |
% over total allowance | 49.38% | |
IFRS9 [member] | Collectively assessed for credit losses [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | $ 9,864,847 | |
% of over total portfolio | 43.62% | |
Allowance | $ (422,546) | |
% over total allowance | 40.56% | |
IFRS9 [member] | Collectively assessed for credit losses [member] | Commercial loans [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | $ 2,055,665 | |
% of over total portfolio | 20.84% | |
Allowance | $ (128,290) | |
% over total allowance | 30.36% | |
IFRS9 [member] | Collectively assessed for credit losses [member] | Mortgages loans [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | $ 5,316,753 | |
% of over total portfolio | 53.90% | |
Allowance | $ (73,465) | |
% over total allowance | 17.39% | |
IFRS9 [member] | Collectively assessed for credit losses [member] | Consumer loans [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | $ 2,492,429 | |
% of over total portfolio | 25.27% | |
Allowance | $ (220,791) | |
% over total allowance | 52.25% | |
IFRS9 [member] | Credit Risk [Member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | $ 23,134,814 | |
% of over total portfolio | 100.00% | |
Allowance | $ (880,117) | |
% over total allowance | 100.00% | |
IFRS9 [member] | Credit Risk [Member] | Collectively assessed for credit losses [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | $ 9,626,346 | |
% of over total portfolio | 42.00% | |
Allowance | $ (445,452) | |
% over total allowance | 51.00% | |
IFRS9 [member] | Credit Risk [Member] | Collectively assessed for credit losses [member] | Commercial loans [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | $ 1,952,076 | |
% of over total portfolio | 8.44% | |
Allowance | $ (110,534) | |
% over total allowance | 12.56% | |
IFRS9 [member] | Credit Risk [Member] | Collectively assessed for credit losses [member] | Mortgages loans [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | $ 4,876,041 | |
% of over total portfolio | 21.08% | |
Allowance | $ (78,501) | |
% over total allowance | 8.92% | |
IFRS9 [member] | Credit Risk [Member] | Collectively assessed for credit losses [member] | Consumer loans [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | $ 2,798,229 | |
% of over total portfolio | 12.10% | |
Allowance | $ (256,417) | |
% over total allowance | 29.13% | |
IFRS9 [member] | Normal Risk Portfolios [Member] | Individually assessed for credit losses [member] | A1 [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | $ 101,936 | |
% of over total portfolio | 0.44% | |
Allowance | $ (14) | |
% over total allowance | 0.00% | |
IFRS9 [member] | Normal Risk Portfolios [Member] | Individually assessed for credit losses [member] | A2 [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | $ 600,732 | |
% of over total portfolio | 2.60% | |
Allowance | $ (124) | |
% over total allowance | 0.01% | |
IFRS9 [member] | Normal Risk Portfolios [Member] | Individually assessed for credit losses [member] | A3 [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | $ 3,063,847 | |
% of over total portfolio | 13.24% | |
Allowance | $ (1,636) | |
% over total allowance | 0.19% | |
IFRS9 [member] | Normal Risk Portfolios [Member] | Individually assessed for credit losses [member] | A4 [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | $ 4,238,157 | |
% of over total portfolio | 18.32% | |
Allowance | $ (12,582) | |
% over total allowance | 1.43% | |
IFRS9 [member] | Normal Risk Portfolios [Member] | Individually assessed for credit losses [member] | A5 [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | $ 2,723,568 | |
% of over total portfolio | 11.77% | |
Allowance | $ (21,246) | |
% over total allowance | 2.41% | |
IFRS9 [member] | Normal Risk Portfolios [Member] | Individually assessed for credit losses [member] | A 6 [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | $ 1,041,531 | |
% of over total portfolio | 4.50% | |
Allowance | $ (25,533) | |
% over total allowance | 2.90% | |
IFRS9 [member] | Normal Risk Portfolios [Member] | Credit Risk [Member] | Individually assessed for credit losses [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | $ 12,753,134 | |
% of over total portfolio | 56.38% | |
Allowance | $ (619,327) | |
% over total allowance | 59.44% | |
IFRS9 [member] | Normal Risk Portfolios [Member] | Credit Risk [Member] | Individually assessed for credit losses [member] | A1 [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | $ 163,981 | |
% of over total portfolio | 1.29% | |
Allowance | $ (66) | |
% over total allowance | 0.01% | |
IFRS9 [member] | Normal Risk Portfolios [Member] | Credit Risk [Member] | Individually assessed for credit losses [member] | A2 [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | $ 514,946 | |
% of over total portfolio | 4.04% | |
Allowance | $ (254) | |
% over total allowance | 0.04% | |
IFRS9 [member] | Normal Risk Portfolios [Member] | Credit Risk [Member] | Individually assessed for credit losses [member] | A3 [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | $ 2,182,085 | |
% of over total portfolio | 17.11% | |
Allowance | $ (3,624) | |
% over total allowance | 0.59% | |
IFRS9 [member] | Normal Risk Portfolios [Member] | Credit Risk [Member] | Individually assessed for credit losses [member] | A4 [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | $ 4,223,518 | |
% of over total portfolio | 33.12% | |
Allowance | $ (35,625) | |
% over total allowance | 5.75% | |
IFRS9 [member] | Normal Risk Portfolios [Member] | Credit Risk [Member] | Individually assessed for credit losses [member] | A5 [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | $ 2,952,521 | |
% of over total portfolio | 23.15% | |
Allowance | $ (19,474) | |
% over total allowance | 3.14% | |
IFRS9 [member] | Normal Risk Portfolios [Member] | Credit Risk [Member] | Individually assessed for credit losses [member] | A 6 [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | $ 920,044 | |
% of over total portfolio | 7.21% | |
Allowance | $ (38,540) | |
% over total allowance | 6.22% | |
IFRS9 [member] | Normal Risk Portfolios [Member] | Credit Risk [Member] | Individually assessed for credit losses [member] | B1 [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | $ 431,934 | |
% of over total portfolio | 3.39% | |
Allowance | $ (10,757) | |
% over total allowance | 1.74% | |
IFRS9 [member] | Normal Risk Portfolios [Member] | Credit Risk [Member] | Individually assessed for credit losses [member] | B2 [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | $ 161,455 | |
% of over total portfolio | 1.27% | |
Allowance | $ (13,265) | |
% over total allowance | 2.14% | |
IFRS9 [member] | Normal Risk Portfolios [Member] | Credit Risk [Member] | Individually assessed for credit losses [member] | External credit grades b3 [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | $ 163,779 | |
% of over total portfolio | 1.28% | |
Allowance | $ (16,242) | |
% over total allowance | 2.62% | |
IFRS9 [member] | Normal Risk Portfolios [Member] | Credit Risk [Member] | Individually assessed for credit losses [member] | External credit grades B4 [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | $ 208,409 | |
% of over total portfolio | 1.63% | |
Allowance | $ (56,413) | |
% over total allowance | 9.11% | |
IFRS9 [member] | Normal Risk Portfolios [Member] | Credit Risk [Member] | Individually assessed for credit losses [member] | External credit grades C1 [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | $ 97,306 | |
% of over total portfolio | 0.76% | |
Allowance | $ (2,193) | |
% over total allowance | 0.35% | |
IFRS9 [member] | Normal Risk Portfolios [Member] | Credit Risk [Member] | Individually assessed for credit losses [member] | External Credit Grades C2 [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | $ 63,842 | |
% of over total portfolio | 0.50% | |
Allowance | $ (7,146) | |
% over total allowance | 1.15% | |
IFRS9 [member] | Normal Risk Portfolios [Member] | Credit Risk [Member] | Individually assessed for credit losses [member] | External credit grades C3 [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | $ 166,229 | |
% of over total portfolio | 1.30% | |
Allowance | $ (46,524) | |
% over total allowance | 7.51% | |
IFRS9 [member] | Normal Risk Portfolios [Member] | Credit Risk [Member] | Individually assessed for credit losses [member] | External credit grades C4 [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | $ 185,893 | |
% of over total portfolio | 1.46% | |
Allowance | $ (83,164) | |
% over total allowance | 13.43% | |
IFRS9 [member] | Normal Risk Portfolios [Member] | Credit Risk [Member] | Individually assessed for credit losses [member] | External credit grades C5 [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | $ 128,699 | |
% of over total portfolio | 1.01% | |
Allowance | $ (94,140) | |
% over total allowance | 15.20% | |
IFRS9 [member] | Normal Risk Portfolios [Member] | Credit Risk [Member] | Individually assessed for credit losses [member] | External credit grades C6 [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | $ 188,493 | |
% of over total portfolio | 1.48% | |
Allowance | $ (191,900) | |
% over total allowance | 30.99% | |
IFRS9 [member] | Substandard Portfolios [member] | Individually assessed for credit losses [member] | B1 [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | $ 364,393 | |
% of over total portfolio | 1.58% | |
Allowance | $ (11,971) | |
% over total allowance | 1.36% | |
IFRS9 [member] | Substandard Portfolios [member] | Individually assessed for credit losses [member] | B2 [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | $ 154,200 | |
% of over total portfolio | 0.67% | |
Allowance | $ (12,071) | |
% over total allowance | 1.37% | |
IFRS9 [member] | Substandard Portfolios [member] | Individually assessed for credit losses [member] | External credit grades b3 [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | $ 73,505 | |
% of over total portfolio | 0.32% | |
Allowance | $ (11,058) | |
% over total allowance | 1.26% | |
IFRS9 [member] | Substandard Portfolios [member] | Individually assessed for credit losses [member] | External credit grades B4 [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | $ 413,676 | |
% of over total portfolio | 1.79% | |
Allowance | $ (91,038) | |
% over total allowance | 10.34% | |
IFRS9 [member] | Non-compliant portfolio [member] | Individually assessed for credit losses [member] | External credit grades C1 [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | $ 167,177 | |
% of over total portfolio | 0.72% | |
Allowance | $ (8,126) | |
% over total allowance | 0.92% | |
IFRS9 [member] | Non-compliant portfolio [member] | Individually assessed for credit losses [member] | External Credit Grades C2 [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | $ 43,587 | |
% of over total portfolio | 0.19% | |
Allowance | $ (3,213) | |
% over total allowance | 0.37% | |
IFRS9 [member] | Non-compliant portfolio [member] | Individually assessed for credit losses [member] | External credit grades C3 [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | $ 80,574 | |
% of over total portfolio | 0.35% | |
Allowance | $ (14,848) | |
% over total allowance | 1.69% | |
IFRS9 [member] | Non-compliant portfolio [member] | Individually assessed for credit losses [member] | External credit grades C4 [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | $ 91,831 | |
% of over total portfolio | 0.40% | |
Allowance | $ (27,076) | |
% over total allowance | 3.08% | |
IFRS9 [member] | Non-compliant portfolio [member] | Individually assessed for credit losses [member] | External credit grades C5 [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | $ 205,639 | |
% of over total portfolio | 0.88% | |
Allowance | $ (98,523) | |
% over total allowance | 11.19% | |
IFRS9 [member] | Non-compliant portfolio [member] | Individually assessed for credit losses [member] | External credit grades C6 [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | $ 144,115 | |
% of over total portfolio | 0.62% | |
Allowance | $ (95,606) | |
% over total allowance | 10.86% | |
Stage1 [member] | IFRS9 [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | $ 16,427,940 | |
Allowance | (165,507) | |
Stage1 [member] | IFRS9 [member] | Individually assessed for credit losses [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | $ 10,728,240 | |
Allowance | (35,602) | |
Stage1 [member] | IFRS9 [member] | Collectively assessed for credit losses [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | 6,390,889 | |
Allowance | (106,464) | |
Stage1 [member] | IFRS9 [member] | Collectively assessed for credit losses [member] | Commercial loans [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | 491,849 | |
Allowance | (29,083) | |
Stage1 [member] | IFRS9 [member] | Collectively assessed for credit losses [member] | Mortgages loans [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | 4,166,515 | |
Allowance | (10,732) | |
Stage1 [member] | IFRS9 [member] | Collectively assessed for credit losses [member] | Consumer loans [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | 1,732,525 | |
Allowance | (66,649) | |
Stage1 [member] | IFRS9 [member] | Credit Risk [Member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | 18,711,922 | |
Allowance | (145,408) | |
Stage1 [member] | IFRS9 [member] | Credit Risk [Member] | Collectively assessed for credit losses [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | 7,983,682 | |
Allowance | (109,806) | |
Stage1 [member] | IFRS9 [member] | Credit Risk [Member] | Collectively assessed for credit losses [member] | Commercial loans [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | 1,737,978 | |
Allowance | (37,434) | |
Stage1 [member] | IFRS9 [member] | Credit Risk [Member] | Collectively assessed for credit losses [member] | Mortgages loans [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | 4,043,765 | |
Allowance | (5,680) | |
Stage1 [member] | IFRS9 [member] | Credit Risk [Member] | Collectively assessed for credit losses [member] | Consumer loans [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | 2,201,939 | |
Allowance | (66,692) | |
Stage1 [member] | IFRS9 [member] | Normal Risk Portfolios [Member] | Individually assessed for credit losses [member] | A1 [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | 101,936 | |
Allowance | (14) | |
Stage1 [member] | IFRS9 [member] | Normal Risk Portfolios [Member] | Individually assessed for credit losses [member] | A2 [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | 600,732 | |
Allowance | (124) | |
Stage1 [member] | IFRS9 [member] | Normal Risk Portfolios [Member] | Individually assessed for credit losses [member] | A3 [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | 3,063,847 | |
Allowance | (1,636) | |
Stage1 [member] | IFRS9 [member] | Normal Risk Portfolios [Member] | Individually assessed for credit losses [member] | A4 [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | 4,238,157 | |
Allowance | (12,582) | |
Stage1 [member] | IFRS9 [member] | Normal Risk Portfolios [Member] | Individually assessed for credit losses [member] | A5 [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | 2,723,568 | |
Allowance | (21,246) | |
Stage1 [member] | IFRS9 [member] | Normal Risk Portfolios [Member] | Credit Risk [Member] | Individually assessed for credit losses [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | 10,037,051 | |
Allowance | (59,043) | |
Stage1 [member] | IFRS9 [member] | Normal Risk Portfolios [Member] | Credit Risk [Member] | Individually assessed for credit losses [member] | A1 [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | 163,981 | |
Allowance | (66) | |
Stage1 [member] | IFRS9 [member] | Normal Risk Portfolios [Member] | Credit Risk [Member] | Individually assessed for credit losses [member] | A2 [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | 514,946 | |
Allowance | (254) | |
Stage1 [member] | IFRS9 [member] | Normal Risk Portfolios [Member] | Credit Risk [Member] | Individually assessed for credit losses [member] | A3 [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | 2,182,085 | |
Allowance | (3,624) | |
Stage1 [member] | IFRS9 [member] | Normal Risk Portfolios [Member] | Credit Risk [Member] | Individually assessed for credit losses [member] | A4 [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | 4,223,518 | |
Allowance | (35,625) | |
Stage1 [member] | IFRS9 [member] | Normal Risk Portfolios [Member] | Credit Risk [Member] | Individually assessed for credit losses [member] | A5 [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | 2,952,521 | |
Allowance | (19,474) | |
Stage 2 [member] | IFRS9 [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | 4,776,672 | |
Allowance | (346,690) | |
Stage 2 [member] | IFRS9 [member] | Individually assessed for credit losses [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | 2,047,305 | |
Allowance | (151,671) | |
Stage 2 [member] | IFRS9 [member] | Collectively assessed for credit losses [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | 2,891,051 | |
Allowance | (211,473) | |
Stage 2 [member] | IFRS9 [member] | Collectively assessed for credit losses [member] | Commercial loans [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | 1,178,431 | |
Allowance | (57,606) | |
Stage 2 [member] | IFRS9 [member] | Collectively assessed for credit losses [member] | Mortgages loans [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | 1,025,921 | |
Allowance | (48,514) | |
Stage 2 [member] | IFRS9 [member] | Collectively assessed for credit losses [member] | Consumer loans [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | 686,699 | |
Allowance | (105,353) | |
Stage 2 [member] | IFRS9 [member] | Credit Risk [Member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | 3,185,687 | |
Allowance | (319,912) | |
Stage 2 [member] | IFRS9 [member] | Credit Risk [Member] | Collectively assessed for credit losses [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | 1,138,382 | |
Allowance | (162,579) | |
Stage 2 [member] | IFRS9 [member] | Credit Risk [Member] | Collectively assessed for credit losses [member] | Mortgages loans [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | 656,010 | |
Allowance | (49,072) | |
Stage 2 [member] | IFRS9 [member] | Credit Risk [Member] | Collectively assessed for credit losses [member] | Consumer loans [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | 482,372 | |
Allowance | (113,507) | |
Stage 2 [member] | IFRS9 [member] | Normal Risk Portfolios [Member] | Individually assessed for credit losses [member] | A 6 [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | 1,041,531 | |
Allowance | (25,533) | |
Stage 2 [member] | IFRS9 [member] | Normal Risk Portfolios [Member] | Credit Risk [Member] | Individually assessed for credit losses [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | 1,885,621 | |
Allowance | (135,217) | |
Stage 2 [member] | IFRS9 [member] | Normal Risk Portfolios [Member] | Credit Risk [Member] | Individually assessed for credit losses [member] | A 6 [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | 920,044 | |
Allowance | (38,540) | |
Stage 2 [member] | IFRS9 [member] | Normal Risk Portfolios [Member] | Credit Risk [Member] | Individually assessed for credit losses [member] | B1 [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | 431,934 | |
Allowance | (10,757) | |
Stage 2 [member] | IFRS9 [member] | Normal Risk Portfolios [Member] | Credit Risk [Member] | Individually assessed for credit losses [member] | B2 [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | 161,455 | |
Allowance | (13,265) | |
Stage 2 [member] | IFRS9 [member] | Normal Risk Portfolios [Member] | Credit Risk [Member] | Individually assessed for credit losses [member] | External credit grades b3 [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | 163,779 | |
Allowance | (16,242) | |
Stage 2 [member] | IFRS9 [member] | Normal Risk Portfolios [Member] | Credit Risk [Member] | Individually assessed for credit losses [member] | External credit grades B4 [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | 208,409 | |
Allowance | (56,413) | |
Stage 2 [member] | IFRS9 [member] | Substandard Portfolios [member] | Individually assessed for credit losses [member] | B1 [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | 364,393 | |
Allowance | (11,971) | |
Stage 2 [member] | IFRS9 [member] | Substandard Portfolios [member] | Individually assessed for credit losses [member] | B2 [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | 154,200 | |
Allowance | (12,071) | |
Stage 2 [member] | IFRS9 [member] | Substandard Portfolios [member] | Individually assessed for credit losses [member] | External credit grades b3 [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | 73,505 | |
Allowance | (11,058) | |
Stage 2 [member] | IFRS9 [member] | Substandard Portfolios [member] | Individually assessed for credit losses [member] | External credit grades B4 [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | 413,676 | |
Allowance | (91,038) | |
Stage 3 [member] | IFRS9 [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | 1,413,369 | |
Allowance | (529,676) | |
Stage 3 [member] | IFRS9 [member] | Individually assessed for credit losses [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | 732,923 | |
Allowance | (247,392) | |
Stage 3 [member] | IFRS9 [member] | Collectively assessed for credit losses [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | 582,907 | |
Allowance | (104,609) | |
Stage 3 [member] | IFRS9 [member] | Collectively assessed for credit losses [member] | Commercial loans [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | 385,385 | |
Allowance | (41,601) | |
Stage 3 [member] | IFRS9 [member] | Collectively assessed for credit losses [member] | Mortgages loans [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | 124,317 | |
Allowance | (14,219) | |
Stage 3 [member] | IFRS9 [member] | Collectively assessed for credit losses [member] | Consumer loans [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | 73,205 | |
Allowance | (48,789) | |
Stage 3 [member] | IFRS9 [member] | Credit Risk [Member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | 1,237,205 | |
Allowance | (414,797) | |
Stage 3 [member] | IFRS9 [member] | Credit Risk [Member] | Collectively assessed for credit losses [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | 504,282 | |
Allowance | (173,067) | |
Stage 3 [member] | IFRS9 [member] | Credit Risk [Member] | Collectively assessed for credit losses [member] | Commercial loans [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | 214,098 | |
Allowance | (73,100) | |
Stage 3 [member] | IFRS9 [member] | Credit Risk [Member] | Collectively assessed for credit losses [member] | Mortgages loans [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | 176,266 | |
Allowance | (23,749) | |
Stage 3 [member] | IFRS9 [member] | Credit Risk [Member] | Collectively assessed for credit losses [member] | Consumer loans [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | 113,918 | |
Allowance | (76,218) | |
Stage 3 [member] | IFRS9 [member] | Normal Risk Portfolios [Member] | Credit Risk [Member] | Individually assessed for credit losses [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | 830,462 | |
Allowance | (425,067) | |
Stage 3 [member] | IFRS9 [member] | Normal Risk Portfolios [Member] | Credit Risk [Member] | Individually assessed for credit losses [member] | External credit grades C1 [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | 97,306 | |
Allowance | (2,193) | |
Stage 3 [member] | IFRS9 [member] | Normal Risk Portfolios [Member] | Credit Risk [Member] | Individually assessed for credit losses [member] | External Credit Grades C2 [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | 63,842 | |
Allowance | (7,146) | |
Stage 3 [member] | IFRS9 [member] | Normal Risk Portfolios [Member] | Credit Risk [Member] | Individually assessed for credit losses [member] | External credit grades C3 [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | 166,229 | |
Allowance | (46,524) | |
Stage 3 [member] | IFRS9 [member] | Normal Risk Portfolios [Member] | Credit Risk [Member] | Individually assessed for credit losses [member] | External credit grades C4 [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | 185,893 | |
Allowance | (83,164) | |
Stage 3 [member] | IFRS9 [member] | Normal Risk Portfolios [Member] | Credit Risk [Member] | Individually assessed for credit losses [member] | External credit grades C5 [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | 128,699 | |
Allowance | (94,140) | |
Stage 3 [member] | IFRS9 [member] | Normal Risk Portfolios [Member] | Credit Risk [Member] | Individually assessed for credit losses [member] | External credit grades C6 [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | 188,493 | |
Allowance | $ (191,900) | |
Stage 3 [member] | IFRS9 [member] | Non-compliant portfolio [member] | Individually assessed for credit losses [member] | External credit grades C1 [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | 167,177 | |
Allowance | (8,126) | |
Stage 3 [member] | IFRS9 [member] | Non-compliant portfolio [member] | Individually assessed for credit losses [member] | External Credit Grades C2 [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | 43,587 | |
Allowance | (3,213) | |
Stage 3 [member] | IFRS9 [member] | Non-compliant portfolio [member] | Individually assessed for credit losses [member] | External credit grades C3 [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | 80,574 | |
Allowance | (14,848) | |
Stage 3 [member] | IFRS9 [member] | Non-compliant portfolio [member] | Individually assessed for credit losses [member] | External credit grades C4 [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | 91,831 | |
Allowance | (27,076) | |
Stage 3 [member] | IFRS9 [member] | Non-compliant portfolio [member] | Individually assessed for credit losses [member] | External credit grades C5 [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | 205,639 | |
Allowance | (98,523) | |
Stage 3 [member] | IFRS9 [member] | Non-compliant portfolio [member] | Individually assessed for credit losses [member] | External credit grades C6 [member] | ||
Disclosure of provision matrix [line items] | ||
Maximum exposure to credit risk gross | 144,115 | |
Allowance | $ (95,606) |
Risk Management - Schedule of A
Risk Management - Schedule of Analysis of Gross Carrying Amount of Loans and Advances to Customers by Past Due Status under IFRS 9 and IAS 39 (Detail) - IFRS9 [member] - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Up to one month [member] | ||
Disclosure of loans and advances to customers [line items] | ||
Loans and accounts receivable at amortized cost | $ 362,384 | $ 861,260 |
Up to one month [member] | Commercial loans [member] | ||
Disclosure of loans and advances to customers [line items] | ||
Loans and accounts receivable at amortized cost | 195,865 | 542,648 |
Up to one month [member] | Mortgages loans [member] | ||
Disclosure of loans and advances to customers [line items] | ||
Loans and accounts receivable at amortized cost | 87,946 | 166,105 |
Up to one month [member] | Consumer loans [member] | ||
Disclosure of loans and advances to customers [line items] | ||
Loans and accounts receivable at amortized cost | 78,573 | 152,507 |
1 - 3 months [member] | ||
Disclosure of loans and advances to customers [line items] | ||
Loans and accounts receivable at amortized cost | 348,151 | 295,924 |
1 - 3 months [member] | Commercial loans [member] | ||
Disclosure of loans and advances to customers [line items] | ||
Loans and accounts receivable at amortized cost | 260,792 | 134,505 |
1 - 3 months [member] | Mortgages loans [member] | ||
Disclosure of loans and advances to customers [line items] | ||
Loans and accounts receivable at amortized cost | 37,084 | 88,072 |
1 - 3 months [member] | Consumer loans [member] | ||
Disclosure of loans and advances to customers [line items] | ||
Loans and accounts receivable at amortized cost | 50,275 | 73,347 |
Over 90 Days or More [Member] | ||
Disclosure of loans and advances to customers [line items] | ||
Loans and accounts receivable at amortized cost | 503,882 | 653,664 |
Over 90 Days or More [Member] | Commercial loans [member] | ||
Disclosure of loans and advances to customers [line items] | ||
Loans and accounts receivable at amortized cost | 381,611 | 490,641 |
Over 90 Days or More [Member] | Mortgages loans [member] | ||
Disclosure of loans and advances to customers [line items] | ||
Loans and accounts receivable at amortized cost | 77,175 | 102,650 |
Over 90 Days or More [Member] | Consumer loans [member] | ||
Disclosure of loans and advances to customers [line items] | ||
Loans and accounts receivable at amortized cost | 45,096 | 60,373 |
Over Due [Member] | ||
Disclosure of loans and advances to customers [line items] | ||
Loans and accounts receivable at amortized cost | 1,214,417 | 1,810,848 |
Over Due [Member] | Commercial loans [member] | ||
Disclosure of loans and advances to customers [line items] | ||
Loans and accounts receivable at amortized cost | 838,268 | 1,167,794 |
Over Due [Member] | Mortgages loans [member] | ||
Disclosure of loans and advances to customers [line items] | ||
Loans and accounts receivable at amortized cost | 202,205 | 356,827 |
Over Due [Member] | Consumer loans [member] | ||
Disclosure of loans and advances to customers [line items] | ||
Loans and accounts receivable at amortized cost | $ 173,944 | $ 286,227 |
Risk Management - Schedule of B
Risk Management - Schedule of Bank's Maximum Credit Risk Exposure by Financial Asset (Detail) - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of credit risk exposure [line items] | ||
Maximum Exposure | $ 27,420,674 | |
Collateral, cash | $ 308,674 | |
Collateral, non-cash | 23,534,341 | |
Maximum Exposure, net amounts | 11,265,123 | |
Commercial loans [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum Exposure | 14,808,799 | 15,460,544 |
Collateral, non-cash | 13,348,809 | 17,686,941 |
Maximum Exposure, net amounts | 6,066,458 | |
Mortgages loans [member] | ||
Disclosure of credit risk exposure [line items] | ||
Collateral, non-cash | 9,844,723 | 7,424,712 |
Maximum Exposure, net amounts | (4,601,435) | |
Consumer loans [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum Exposure | 2,492,429 | 2,798,229 |
Collateral, non-cash | 235,229 | 2,233,046 |
Maximum Exposure, net amounts | 2,036,409 | |
Financial assets at fair value through other comprehensive income [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum Exposure, net amounts | 3,970,899 | |
Loans and accounts receivable at amortized cost [member] | ||
Disclosure of credit risk exposure [line items] | ||
Collateral, non-cash | 23,428,761 | 27,344,699 |
Maximum Exposure, net amounts | 3,501,432 | |
Financial assets at amortised cost [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum Exposure, net amounts | 111,542 | |
Investments under Agreements to Resell [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Collateral, non-cash | 105,580 | 75,975 |
Financial derivative contracts [member] | ||
Disclosure of credit risk exposure [line items] | ||
Collateral, cash | 308,674 | |
Maximum Exposure, net amounts | 3,674,129 | |
Interbank loans [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum Exposure, net amounts | 7,121 | |
Credit Risk [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum Exposure | 21,685,269 | 22,254,695 |
Credit Risk [Member] | Commercial loans [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum Exposure | 14,133,985 | 14,915,343 |
Credit Risk [Member] | Mortgages loans [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum Exposure | 2,325,447 | 4,797,540 |
Credit Risk [Member] | Consumer loans [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum Exposure | 5,225,837 | 2,541,812 |
Credit Risk [Member] | Financial assets at fair value through other comprehensive income [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum Exposure | 116,654 | |
Maximum Exposure, net amounts | 3,598,890 | |
Credit Risk [Member] | Loans and accounts receivable at amortized cost [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum Exposure, net amounts | 770,866 | |
Credit Risk [Member] | Financial assets at amortised cost [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum Exposure, net amounts | 115,658 | |
Credit Risk [Member] | Financial derivative contracts [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum Exposure | 7,579,874 | |
Collateral, cash | 116,654 | |
Maximum Exposure, net amounts | 3,038,303 | |
Credit Risk [Member] | Financial derivative contracts [member] | Commercial loans [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum Exposure, net amounts | 3,089,272 | |
Credit Risk [Member] | Financial derivative contracts [member] | Mortgages loans [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum Exposure, net amounts | (2,627,172) | |
Credit Risk [Member] | Financial derivative contracts [member] | Consumer loans [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum Exposure, net amounts | 308,766 | |
Credit Risk [Member] | Interbank loans [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum Exposure, net amounts | 56,157 | |
On Balance Sheet [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum Exposure, net amounts | 29,754,053 | |
On Balance Sheet [member] | Commercial loans [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum Exposure, net amounts | 14,061,182 | |
On Balance Sheet [member] | Mortgages loans [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum Exposure, net amounts | 5,243,288 | |
On Balance Sheet [member] | Consumer loans [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum Exposure, net amounts | 2,271,638 | |
On Balance Sheet [member] | Financial assets at fair value through other comprehensive income [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum Exposure, net amounts | 3,970,899 | |
On Balance Sheet [member] | Loans and accounts receivable at amortized cost [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum Exposure, net amounts | 21,576,108 | |
On Balance Sheet [member] | Financial assets at amortised cost [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum Exposure, net amounts | 111,542 | |
On Balance Sheet [member] | Investments under Agreements to Resell [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum Exposure, net amounts | 105,580 | |
On Balance Sheet [member] | Financial derivative contracts [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum Exposure, net amounts | 3,982,803 | |
On Balance Sheet [member] | Interbank loans [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum Exposure, net amounts | 7,121 | |
On Balance Sheet [member] | Gross assets [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum Exposure | 30,796,948 | 30,136,714 |
On Balance Sheet [member] | Gross assets [member] | Commercial loans [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum Exposure | 14,808,799 | 15,460,544 |
On Balance Sheet [member] | Gross assets [member] | Mortgages loans [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum Exposure | 5,316,753 | 4,876,041 |
On Balance Sheet [member] | Gross assets [member] | Consumer loans [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum Exposure | 2,492,429 | 2,798,229 |
On Balance Sheet [member] | Gross assets [member] | Financial assets at fair value through other comprehensive income [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum Exposure | 3,971,810 | 3,598,890 |
On Balance Sheet [member] | Gross assets [member] | Loans and accounts receivable at amortized cost [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum Exposure | 22,617,981 | 23,134,814 |
On Balance Sheet [member] | Gross assets [member] | Financial assets at amortised cost [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum Exposure | 111,643 | 115,682 |
On Balance Sheet [member] | Gross assets [member] | Investments under Agreements to Resell [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum Exposure | 105,580 | 75,975 |
On Balance Sheet [member] | Gross assets [member] | Financial derivative contracts [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum Exposure | 3,982,803 | 3,154,957 |
On Balance Sheet [member] | Gross assets [member] | Interbank loans [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum Exposure | 7,131 | 56,396 |
On Balance Sheet [member] | Allowances for loan losses [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum Exposure | (1,042,895) | (880,380) |
On Balance Sheet [member] | Allowances for loan losses [member] | Commercial loans [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum Exposure | (747,617) | (545,199) |
On Balance Sheet [member] | Allowances for loan losses [member] | Mortgages loans [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum Exposure | (73,465) | (78,501) |
On Balance Sheet [member] | Allowances for loan losses [member] | Consumer loans [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum Exposure | (220,791) | (256,417) |
On Balance Sheet [member] | Allowances for loan losses [member] | Financial assets at fair value through other comprehensive income [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum Exposure | (911) | |
On Balance Sheet [member] | Allowances for loan losses [member] | Loans and accounts receivable at amortized cost [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum Exposure | (1,041,873) | (880,117) |
On Balance Sheet [member] | Allowances for loan losses [member] | Financial assets at amortised cost [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum Exposure | (101) | (24) |
On Balance Sheet [member] | Allowances for loan losses [member] | Interbank loans [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum Exposure | (10) | (239) |
On Balance Sheet [member] | Credit Risk [Member] | Financial assets at fair value through other comprehensive income [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum Exposure | 29,256,334 | |
Maximum Exposure, net amounts | 3,598,890 | |
On Balance Sheet [member] | Credit Risk [Member] | Financial assets at fair value through other comprehensive income [member] | Commercial loans [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum Exposure, net amounts | 14,915,345 | |
On Balance Sheet [member] | Credit Risk [Member] | Financial assets at fair value through other comprehensive income [member] | Mortgages loans [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum Exposure, net amounts | 4,797,540 | |
On Balance Sheet [member] | Credit Risk [Member] | Financial assets at fair value through other comprehensive income [member] | Consumer loans [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum Exposure, net amounts | 2,541,812 | |
On Balance Sheet [member] | Credit Risk [Member] | Loans and accounts receivable at amortized cost [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum Exposure, net amounts | 22,254,697 | |
On Balance Sheet [member] | Credit Risk [Member] | Financial assets at amortised cost [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum Exposure, net amounts | 115,658 | |
On Balance Sheet [member] | Credit Risk [Member] | Investments under Agreements to Resell [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum Exposure, net amounts | 75,975 | |
On Balance Sheet [member] | Credit Risk [Member] | Financial derivative contracts [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum Exposure, net amounts | 3,154,957 | |
On Balance Sheet [member] | Credit Risk [Member] | Interbank loans [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum Exposure, net amounts | 56,157 | |
Off Balance Sheet [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum Exposure, net amounts | 5,354,085 | |
Off Balance Sheet [member] | Commercial loans [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum Exposure, net amounts | 5,354,085 | |
Off Balance Sheet [member] | Loans and accounts receivable at amortized cost [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum Exposure, net amounts | 5,354,085 | |
Off Balance Sheet [member] | Gross assets [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum Exposure | 5,393,860 | |
Off Balance Sheet [member] | Gross assets [member] | Commercial loans [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum Exposure | 5,393,860 | |
Off Balance Sheet [member] | Gross assets [member] | Loans and accounts receivable at amortized cost [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum Exposure | 5,393,860 | |
Off Balance Sheet [member] | Allowances for loan losses [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum Exposure | (39,775) | |
Off Balance Sheet [member] | Allowances for loan losses [member] | Commercial loans [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum Exposure | (39,775) | |
Off Balance Sheet [member] | Allowances for loan losses [member] | Loans and accounts receivable at amortized cost [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum Exposure | $ (39,775) | |
Off Balance Sheet [member] | Credit Risk [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum Exposure | 5,860,868 | |
Off Balance Sheet [member] | Credit Risk [Member] | Commercial loans [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum Exposure | 5,860,868 | |
Off Balance Sheet [member] | Credit Risk [Member] | Loans and accounts receivable at amortized cost [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum Exposure | 5,860,868 | |
Off Balance Sheet [member] | Credit Risk [Member] | Gross assets [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum Exposure | 5,895,139 | |
Off Balance Sheet [member] | Credit Risk [Member] | Gross assets [member] | Commercial loans [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum Exposure | 5,895,139 | |
Off Balance Sheet [member] | Credit Risk [Member] | Gross assets [member] | Loans and accounts receivable at amortized cost [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum Exposure | 5,895,139 | |
Off Balance Sheet [member] | Credit Risk [Member] | Allowances for loan losses [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum Exposure | (34,271) | |
Off Balance Sheet [member] | Credit Risk [Member] | Allowances for loan losses [member] | Commercial loans [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum Exposure | (34,271) | |
Off Balance Sheet [member] | Credit Risk [Member] | Allowances for loan losses [member] | Loans and accounts receivable at amortized cost [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum Exposure | $ (34,271) |
Risk Management - Summary For A
Risk Management - Summary For Allowances For Loan Losses According to IFRS 9 (Detail) - IFRS9 [member] - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure Of Allowances For Loan Losses [line items] | ||
Allowances for loans losses | $ 1,081,658 | $ 914,627 |
Loans and receivables to Amortized Cost [member] | ||
Disclosure Of Allowances For Loan Losses [line items] | ||
Allowances for loans losses | (1,041,873) | (880,117) |
Interbank loans [member] | ||
Disclosure Of Allowances For Loan Losses [line items] | ||
Allowances for loans losses | (10) | (239) |
Provisions for contingent loans risk [member] | ||
Disclosure Of Allowances For Loan Losses [line items] | ||
Allowances for loans losses | $ (39,775) | $ (34,271) |
Risk Management - Schedule of_2
Risk Management - Schedule of Concentration of Credit Risk by Industry (Detail) - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of credit risk exposure [line items] | ||
Maximum net exposure | $ 27,420,674 | |
Manufacturing [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum net exposure percent | 4.69% | |
Mining [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum net exposure percent | 2.36% | |
Electricity, gas and water [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum net exposure percent | 4.86% | |
Agriculture and livestock [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum net exposure percent | 2.19% | |
Forestry and wood extraction [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum net exposure percent | 0.25% | |
Fishing [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum net exposure percent | 0.16% | |
Transport [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum net exposure percent | 2.59% | |
Communications [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum net exposure percent | 0.25% | |
Construction [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum net exposure percent | 8.12% | |
Commerce [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum net exposure percent | 9.77% | |
Services [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum net exposure percent | 15.92% | |
Others [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum net exposure percent | 14.00% | |
Commercial loans [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum net exposure | $ 14,808,799 | 15,460,544 |
Maximum net exposure percent | 65.47% | |
Consumer loans [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum net exposure | $ 2,492,429 | 2,798,229 |
Maximum net exposure percent | 23.51% | |
Mortgages loans [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum net exposure percent | 11.02% | |
Credit Risk [Member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum gross exposure | $ 22,619,167 | 23,134,814 |
Maximum net exposure | 21,685,269 | 22,254,695 |
Credit Risk [Member] | Manufacturing [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum gross exposure | 1,060,837 | 1,099,739 |
Maximum net exposure | 1,004,437 | $ 1,037,275 |
Maximum net exposure percent | 4.66% | |
Credit Risk [Member] | Mining [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum gross exposure | 534,823 | $ 551,615 |
Maximum net exposure | 465,405 | $ 479,190 |
Maximum net exposure percent | 2.15% | |
Credit Risk [Member] | Electricity, gas and water [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum gross exposure | 1,099,504 | $ 1,125,541 |
Maximum net exposure | 863,573 | $ 989,433 |
Maximum net exposure percent | 4.45% | |
Credit Risk [Member] | Agriculture and livestock [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum gross exposure | 494,601 | $ 483,943 |
Maximum net exposure | 470,250 | $ 455,842 |
Maximum net exposure percent | 2.05% | |
Credit Risk [Member] | Forestry and wood extraction [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum gross exposure | 56,005 | $ 53,328 |
Maximum net exposure | 54,607 | $ 51,864 |
Maximum net exposure percent | 0.23% | |
Credit Risk [Member] | Fishing [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum gross exposure | 35,723 | $ 46,902 |
Maximum net exposure | 30,882 | $ 45,992 |
Maximum net exposure percent | 0.21% | |
Credit Risk [Member] | Transport [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum gross exposure | 586,831 | $ 559,271 |
Maximum net exposure | 527,557 | $ 510,333 |
Maximum net exposure percent | 2.29% | |
Credit Risk [Member] | Communications [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum gross exposure | 56,148 | $ 34,926 |
Maximum net exposure | 53,659 | $ 33,720 |
Maximum net exposure percent | 0.15% | |
Credit Risk [Member] | Construction [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum gross exposure | 1,837,114 | $ 2,106,829 |
Maximum net exposure | 1,799,216 | $ 2,076,668 |
Maximum net exposure percent | 9.33% | |
Credit Risk [Member] | Commerce [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum gross exposure | 2,210,467 | $ 2,129,179 |
Maximum net exposure | 2,099,734 | $ 2,019,636 |
Maximum net exposure percent | 9.08% | |
Credit Risk [Member] | Services [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum gross exposure | 3,599,936 | $ 3,944,571 |
Maximum net exposure | 3,527,342 | $ 3,908,000 |
Maximum net exposure percent | 17.56% | |
Credit Risk [Member] | Others [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum gross exposure | 3,237,714 | $ 3,324,700 |
Maximum net exposure | 3,237,323 | $ 3,307,390 |
Maximum net exposure percent | 14.86% | |
Credit Risk [Member] | Commercial loans [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum gross exposure | 14,809,703 | $ 15,460,544 |
Maximum net exposure | 14,133,985 | $ 14,915,343 |
Maximum net exposure percent | 67.02% | |
Credit Risk [Member] | Consumer loans [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum gross exposure | 5,317,000 | $ 2,798,229 |
Maximum net exposure | 5,225,837 | $ 2,541,812 |
Maximum net exposure percent | 11.42% | |
Credit Risk [Member] | Mortgages loans [member] | ||
Disclosure of credit risk exposure [line items] | ||
Maximum gross exposure | 2,492,464 | $ 4,876,041 |
Maximum net exposure | $ 2,325,447 | $ 4,797,540 |
Maximum net exposure percent | 21.56% |
Risk Management - Schedule of_3
Risk Management - Schedule of Banking Book Positions (Products Valued at Amortized Cost and Available-for-sale Instruments and Derivatives Valued at Fair Value) (Detail) - Interest rate risk [member] - Banking book [member] - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Sensitivity analysis for interest rate risk [line items] | ||
Financial assets | $ 32,936,131 | $ 51,708,352 |
Financial liabilities | (32,122,653) | (46,589,586) |
Derivatives | 156,607 | 26,020 |
CLP [member] | ||
Sensitivity analysis for interest rate risk [line items] | ||
Financial assets | 12,190,871 | 10,145,060 |
Financial liabilities | (16,896,494) | (14,932,996) |
Derivatives | 3,074,115 | 3,286,458 |
CLF [member] | ||
Sensitivity analysis for interest rate risk [line items] | ||
Financial assets | 11,301,485 | 11,637,816 |
Financial liabilities | (6,908,602) | (7,315,172) |
Derivatives | (2,165,038) | (2,230,887) |
USD [member] | ||
Sensitivity analysis for interest rate risk [line items] | ||
Financial assets | 4,303,817 | 5,056,844 |
Financial liabilities | (3,980,347) | (6,404,219) |
Derivatives | 130,563 | 2,211,395 |
COP [member] | ||
Sensitivity analysis for interest rate risk [line items] | ||
Financial assets | 5,139,958 | 24,868,632 |
Financial liabilities | (4,337,210) | (17,937,199) |
Derivatives | (883,033) | (3,240,946) |
Up to one month [member] | ||
Sensitivity analysis for interest rate risk [line items] | ||
Financial assets | 9,817,266 | 15,718,342 |
Financial liabilities | (15,149,162) | (20,036,030) |
Derivatives | (149,153) | 1,881,267 |
Up to one month [member] | CLP [member] | ||
Sensitivity analysis for interest rate risk [line items] | ||
Financial assets | 4,885,891 | 3,507,091 |
Financial liabilities | (10,169,966) | (8,633,088) |
Derivatives | 830,637 | 988,919 |
Up to one month [member] | CLF [member] | ||
Sensitivity analysis for interest rate risk [line items] | ||
Financial assets | 539,004 | 536,885 |
Financial liabilities | (223,471) | (432,799) |
Derivatives | (1,263,538) | (936,785) |
Up to one month [member] | USD [member] | ||
Sensitivity analysis for interest rate risk [line items] | ||
Financial assets | 2,523,089 | 2,038,658 |
Financial liabilities | (2,152,414) | (1,305,440) |
Derivatives | 103,599 | 787,971 |
Up to one month [member] | COP [member] | ||
Sensitivity analysis for interest rate risk [line items] | ||
Financial assets | 1,869,282 | 9,635,708 |
Financial liabilities | (2,603,311) | (9,664,703) |
Derivatives | 180,149 | 1,041,162 |
1 - 3 months [member] | ||
Sensitivity analysis for interest rate risk [line items] | ||
Financial assets | 2,565,202 | 5,631,115 |
Financial liabilities | (2,808,356) | (5,142,757) |
Derivatives | (133,655) | (1,765,659) |
1 - 3 months [member] | CLP [member] | ||
Sensitivity analysis for interest rate risk [line items] | ||
Financial assets | 845,251 | 965,331 |
Financial liabilities | (1,637,063) | (2,251,174) |
Derivatives | 1,429,392 | 1,140,587 |
1 - 3 months [member] | CLF [member] | ||
Sensitivity analysis for interest rate risk [line items] | ||
Financial assets | 502,506 | 595,857 |
Financial liabilities | (14,789) | (47,785) |
Derivatives | (795,275) | (814,209) |
1 - 3 months [member] | USD [member] | ||
Sensitivity analysis for interest rate risk [line items] | ||
Financial assets | 571,066 | 911,154 |
Financial liabilities | (884,847) | (1,418,654) |
Derivatives | (24,269) | 524,265 |
1 - 3 months [member] | COP [member] | ||
Sensitivity analysis for interest rate risk [line items] | ||
Financial assets | 646,379 | 3,158,773 |
Financial liabilities | (271,657) | (1,425,144) |
Derivatives | (743,503) | (2,616,302) |
3 months to 1 year [member] | ||
Sensitivity analysis for interest rate risk [line items] | ||
Financial assets | 5,585,956 | 9,384,357 |
Financial liabilities | (4,363,629) | (10,375,645) |
Derivatives | (133,194) | (205,036) |
3 months to 1 year [member] | CLP [member] | ||
Sensitivity analysis for interest rate risk [line items] | ||
Financial assets | 2,289,124 | 2,382,124 |
Financial liabilities | (2,477,283) | (3,200,762) |
Derivatives | 516,336 | 900,023 |
3 months to 1 year [member] | CLF [member] | ||
Sensitivity analysis for interest rate risk [line items] | ||
Financial assets | 1,683,797 | 1,670,189 |
Financial liabilities | (284,994) | (655,079) |
Derivatives | (662,416) | (485,247) |
3 months to 1 year [member] | USD [member] | ||
Sensitivity analysis for interest rate risk [line items] | ||
Financial assets | 885,045 | 1,892,712 |
Financial liabilities | (939,496) | (3,610,341) |
Derivatives | 87,848 | 806,558 |
3 months to 1 year [member] | COP [member] | ||
Sensitivity analysis for interest rate risk [line items] | ||
Financial assets | 727,990 | 3,439,332 |
Financial liabilities | (661,856) | (2,909,463) |
Derivatives | (74,962) | (1,426,370) |
1 - 3 years [member] | ||
Sensitivity analysis for interest rate risk [line items] | ||
Financial assets | 5,174,445 | 8,943,449 |
Financial liabilities | (1,818,488) | (3,733,426) |
Derivatives | (376,852) | (425,285) |
1 - 3 years [member] | CLP [member] | ||
Sensitivity analysis for interest rate risk [line items] | ||
Financial assets | 2,252,567 | 1,924,539 |
Financial liabilities | (661,668) | (632,972) |
Derivatives | 272,765 | 664,608 |
1 - 3 years [member] | CLF [member] | ||
Sensitivity analysis for interest rate risk [line items] | ||
Financial assets | 1,586,457 | 2,172,579 |
Financial liabilities | (768,465) | (752,948) |
Derivatives | (444,847) | (904,781) |
1 - 3 years [member] | USD [member] | ||
Sensitivity analysis for interest rate risk [line items] | ||
Financial assets | 123,608 | 88,532 |
Financial liabilities | (3,590) | (69,784) |
Derivatives | (24,433) | 77,221 |
1 - 3 years [member] | COP [member] | ||
Sensitivity analysis for interest rate risk [line items] | ||
Financial assets | 1,211,813 | 4,757,799 |
Financial liabilities | (384,765) | (2,277,722) |
Derivatives | (180,337) | (262,333) |
More than 3 Years [Member] | ||
Sensitivity analysis for interest rate risk [line items] | ||
Financial assets | 9,793,262 | 12,031,089 |
Financial liabilities | (7,983,018) | (7,301,728) |
Derivatives | 949,461 | 540,733 |
More than 3 Years [Member] | CLP [member] | ||
Sensitivity analysis for interest rate risk [line items] | ||
Financial assets | 1,918,038 | 1,365,975 |
Financial liabilities | (1,950,514) | (215,000) |
Derivatives | 24,985 | (407,679) |
More than 3 Years [Member] | CLF [member] | ||
Sensitivity analysis for interest rate risk [line items] | ||
Financial assets | 6,989,721 | 6,662,306 |
Financial liabilities | (5,616,883) | (5,426,561) |
Derivatives | 1,001,038 | 910,135 |
More than 3 Years [Member] | USD [member] | ||
Sensitivity analysis for interest rate risk [line items] | ||
Financial assets | 201,009 | 125,788 |
Derivatives | (12,182) | 15,380 |
More than 3 Years [Member] | COP [member] | ||
Sensitivity analysis for interest rate risk [line items] | ||
Financial assets | 684,494 | 3,877,020 |
Financial liabilities | (415,621) | (1,660,167) |
Derivatives | $ (64,380) | $ 22,897 |
Risk Management - Schedule of T
Risk Management - Schedule of Trading Book (Detail) | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Regulatory risk [member] | Trading book [member] | |||
Estimated limit for market risk [line items] | |||
Market risk exposure (MRE) | 83.34% | 80.10% | 71.80% |
Risk Management - Schedule of_4
Risk Management - Schedule of Banking Book (Detail) - Regulatory risk [member] - Banking book [member] | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Estimated limit for market risk [line items] | |||
Short-term exposure to interest rate risk | 62.99% | 48.92% | 51.40% |
Long-term exposure to interest rate risk | 63.86% | 57.82% | 50.30% |
Risk Management - Schedule of I
Risk Management - Schedule of Interest Rate (Detail) | Dec. 31, 2020 |
Government [member] | Scenarios for impact on accrual book [member] | 1 Day [member] | COP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 37.00% |
Government [member] | Scenarios for impact on accrual book [member] | Up to three months [member] | COP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 40.00% |
Government [member] | Scenarios for impact on accrual book [member] | Not later than six months [member] | COP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 78.00% |
Government [member] | Scenarios for impact on accrual book [member] | Not later than nine months [member] | COP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 77.00% |
Government [member] | Scenarios for impact on accrual book [member] | 1 year [member] | COP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 75.00% |
Government [member] | Scenarios for impact on accrual book [member] | Up to one month [member] | COP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 79.00% |
Curve [member] | Scenarios for impact on accrual book [member] | 1 Day [member] | USD [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 13.00% |
Curve [member] | Scenarios for impact on accrual book [member] | Up to three months [member] | USD [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 17.00% |
Curve [member] | Scenarios for impact on accrual book [member] | Not later than six months [member] | USD [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 19.00% |
Curve [member] | Scenarios for impact on accrual book [member] | Not later than nine months [member] | USD [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 27.00% |
Curve [member] | Scenarios for impact on accrual book [member] | 1 year [member] | USD [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 35.00% |
Curve [member] | Scenarios for impact on accrual book [member] | Up to one month [member] | USD [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 14.00% |
Interest rate risk [member] | Chamber [member] | Chile [member] | Scenarios for impact on profit and loss [member] | 1 Day [member] | CLP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | (39.00%) |
Interest rate risk [member] | Chamber [member] | Chile [member] | Scenarios for impact on profit and loss [member] | 1 Day [member] | CLF [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 87.00% |
Interest rate risk [member] | Chamber [member] | Chile [member] | Scenarios for impact on profit and loss [member] | Up to three months [member] | CLP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | (39.00%) |
Interest rate risk [member] | Chamber [member] | Chile [member] | Scenarios for impact on profit and loss [member] | Up to three months [member] | CLF [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 87.00% |
Interest rate risk [member] | Chamber [member] | Chile [member] | Scenarios for impact on profit and loss [member] | Not later than six months [member] | CLP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | (39.00%) |
Interest rate risk [member] | Chamber [member] | Chile [member] | Scenarios for impact on profit and loss [member] | Not later than six months [member] | CLF [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 87.00% |
Interest rate risk [member] | Chamber [member] | Chile [member] | Scenarios for impact on profit and loss [member] | Not later than nine months [member] | CLP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | (36.00%) |
Interest rate risk [member] | Chamber [member] | Chile [member] | Scenarios for impact on profit and loss [member] | Not later than nine months [member] | CLF [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 87.00% |
Interest rate risk [member] | Chamber [member] | Chile [member] | Scenarios for impact on profit and loss [member] | 1 year [member] | CLP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | (33.00%) |
Interest rate risk [member] | Chamber [member] | Chile [member] | Scenarios for impact on profit and loss [member] | 1 year [member] | CLF [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 93.00% |
Interest rate risk [member] | Chamber [member] | Chile [member] | Scenarios for impact on profit and loss [member] | 2 year [member] | CLP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | (37.00%) |
Interest rate risk [member] | Chamber [member] | Chile [member] | Scenarios for impact on profit and loss [member] | 2 year [member] | CLF [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 70.00% |
Interest rate risk [member] | Chamber [member] | Chile [member] | Scenarios for impact on profit and loss [member] | 3 year [member] | CLP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | (47.00%) |
Interest rate risk [member] | Chamber [member] | Chile [member] | Scenarios for impact on profit and loss [member] | 3 year [member] | CLF [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 68.00% |
Interest rate risk [member] | Chamber [member] | Chile [member] | Scenarios for impact on profit and loss [member] | 4 year [member] | CLP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | (57.00%) |
Interest rate risk [member] | Chamber [member] | Chile [member] | Scenarios for impact on profit and loss [member] | 4 year [member] | CLF [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 68.00% |
Interest rate risk [member] | Chamber [member] | Chile [member] | Scenarios for impact on profit and loss [member] | Later than five years and not later than seven years [member] | CLP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | (67.00%) |
Interest rate risk [member] | Chamber [member] | Chile [member] | Scenarios for impact on profit and loss [member] | Later than five years and not later than seven years [member] | CLF [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 67.00% |
Interest rate risk [member] | Chamber [member] | Chile [member] | Scenarios for impact on profit and loss [member] | Later than seven years and not later than ten years [member] | CLP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | (65.00%) |
Interest rate risk [member] | Chamber [member] | Chile [member] | Scenarios for impact on profit and loss [member] | Later than seven years and not later than ten years [member] | CLF [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 74.00% |
Interest rate risk [member] | Chamber [member] | Chile [member] | Scenarios for impact on profit and loss [member] | Later than ten years and not later than twenty years [member] | CLP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | (63.00%) |
Interest rate risk [member] | Chamber [member] | Chile [member] | Scenarios for impact on profit and loss [member] | Later than ten years and not later than twenty years [member] | CLF [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 83.00% |
Interest rate risk [member] | Chamber [member] | Chile [member] | Scenarios for impact on profit and loss [member] | Later than twenty years [member] | CLP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | (63.00%) |
Interest rate risk [member] | Chamber [member] | Chile [member] | Scenarios for impact on profit and loss [member] | Later than twenty years [member] | CLF [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 80.00% |
Interest rate risk [member] | Chamber [member] | Chile [member] | Scenarios for impact on available for sale assets [member] | 1 Day [member] | CLP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 39.00% |
Interest rate risk [member] | Chamber [member] | Chile [member] | Scenarios for impact on available for sale assets [member] | 1 Day [member] | CLF [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | (87.00%) |
Interest rate risk [member] | Chamber [member] | Chile [member] | Scenarios for impact on available for sale assets [member] | Up to three months [member] | CLP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 39.00% |
Interest rate risk [member] | Chamber [member] | Chile [member] | Scenarios for impact on available for sale assets [member] | Up to three months [member] | CLF [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | (87.00%) |
Interest rate risk [member] | Chamber [member] | Chile [member] | Scenarios for impact on available for sale assets [member] | Not later than six months [member] | CLP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 39.00% |
Interest rate risk [member] | Chamber [member] | Chile [member] | Scenarios for impact on available for sale assets [member] | Not later than six months [member] | CLF [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | (87.00%) |
Interest rate risk [member] | Chamber [member] | Chile [member] | Scenarios for impact on available for sale assets [member] | Not later than nine months [member] | CLP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 36.00% |
Interest rate risk [member] | Chamber [member] | Chile [member] | Scenarios for impact on available for sale assets [member] | Not later than nine months [member] | CLF [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | (87.00%) |
Interest rate risk [member] | Chamber [member] | Chile [member] | Scenarios for impact on available for sale assets [member] | 1 year [member] | CLP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 33.00% |
Interest rate risk [member] | Chamber [member] | Chile [member] | Scenarios for impact on available for sale assets [member] | 1 year [member] | CLF [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | (93.00%) |
Interest rate risk [member] | Chamber [member] | Chile [member] | Scenarios for impact on available for sale assets [member] | 2 year [member] | CLP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 37.00% |
Interest rate risk [member] | Chamber [member] | Chile [member] | Scenarios for impact on available for sale assets [member] | 2 year [member] | CLF [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | (70.00%) |
Interest rate risk [member] | Chamber [member] | Chile [member] | Scenarios for impact on available for sale assets [member] | 3 year [member] | CLP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 47.00% |
Interest rate risk [member] | Chamber [member] | Chile [member] | Scenarios for impact on available for sale assets [member] | 3 year [member] | CLF [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | (68.00%) |
Interest rate risk [member] | Chamber [member] | Chile [member] | Scenarios for impact on available for sale assets [member] | 4 year [member] | CLP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 57.00% |
Interest rate risk [member] | Chamber [member] | Chile [member] | Scenarios for impact on available for sale assets [member] | 4 year [member] | CLF [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | (68.00%) |
Interest rate risk [member] | Chamber [member] | Chile [member] | Scenarios for impact on available for sale assets [member] | Later than five years and not later than seven years [member] | CLP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 67.00% |
Interest rate risk [member] | Chamber [member] | Chile [member] | Scenarios for impact on available for sale assets [member] | Later than five years and not later than seven years [member] | CLF [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | (67.00%) |
Interest rate risk [member] | Chamber [member] | Chile [member] | Scenarios for impact on available for sale assets [member] | Later than seven years and not later than ten years [member] | CLP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 65.00% |
Interest rate risk [member] | Chamber [member] | Chile [member] | Scenarios for impact on available for sale assets [member] | Later than seven years and not later than ten years [member] | CLF [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | (74.00%) |
Interest rate risk [member] | Chamber [member] | Chile [member] | Scenarios for impact on available for sale assets [member] | Later than ten years and not later than twenty years [member] | CLP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 63.00% |
Interest rate risk [member] | Chamber [member] | Chile [member] | Scenarios for impact on available for sale assets [member] | Later than ten years and not later than twenty years [member] | CLF [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | (83.00%) |
Interest rate risk [member] | Chamber [member] | Chile [member] | Scenarios for impact on available for sale assets [member] | Later than twenty years [member] | CLP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 63.00% |
Interest rate risk [member] | Chamber [member] | Chile [member] | Scenarios for impact on available for sale assets [member] | Later than twenty years [member] | CLF [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | (80.00%) |
Interest rate risk [member] | Government [member] | Chile [member] | Scenarios for impact on profit and loss [member] | 1 Day [member] | CLP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 39.00% |
Interest rate risk [member] | Government [member] | Chile [member] | Scenarios for impact on profit and loss [member] | 1 Day [member] | CLF [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 162.00% |
Interest rate risk [member] | Government [member] | Chile [member] | Scenarios for impact on profit and loss [member] | Up to three months [member] | CLP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 39.00% |
Interest rate risk [member] | Government [member] | Chile [member] | Scenarios for impact on profit and loss [member] | Up to three months [member] | CLF [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 162.00% |
Interest rate risk [member] | Government [member] | Chile [member] | Scenarios for impact on profit and loss [member] | Not later than six months [member] | CLP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 39.00% |
Interest rate risk [member] | Government [member] | Chile [member] | Scenarios for impact on profit and loss [member] | Not later than six months [member] | CLF [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 162.00% |
Interest rate risk [member] | Government [member] | Chile [member] | Scenarios for impact on profit and loss [member] | Not later than nine months [member] | CLP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 42.00% |
Interest rate risk [member] | Government [member] | Chile [member] | Scenarios for impact on profit and loss [member] | Not later than nine months [member] | CLF [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 159.00% |
Interest rate risk [member] | Government [member] | Chile [member] | Scenarios for impact on profit and loss [member] | 1 year [member] | CLP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 46.00% |
Interest rate risk [member] | Government [member] | Chile [member] | Scenarios for impact on profit and loss [member] | 1 year [member] | CLF [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 155.00% |
Interest rate risk [member] | Government [member] | Chile [member] | Scenarios for impact on profit and loss [member] | 2 year [member] | CLP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 39.00% |
Interest rate risk [member] | Government [member] | Chile [member] | Scenarios for impact on profit and loss [member] | 2 year [member] | CLF [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 93.00% |
Interest rate risk [member] | Government [member] | Chile [member] | Scenarios for impact on profit and loss [member] | 3 year [member] | CLP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 52.00% |
Interest rate risk [member] | Government [member] | Chile [member] | Scenarios for impact on profit and loss [member] | 3 year [member] | CLF [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 88.00% |
Interest rate risk [member] | Government [member] | Chile [member] | Scenarios for impact on profit and loss [member] | 4 year [member] | CLP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 65.00% |
Interest rate risk [member] | Government [member] | Chile [member] | Scenarios for impact on profit and loss [member] | 4 year [member] | CLF [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 83.00% |
Interest rate risk [member] | Government [member] | Chile [member] | Scenarios for impact on profit and loss [member] | Later than five years and not later than seven years [member] | CLP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 77.00% |
Interest rate risk [member] | Government [member] | Chile [member] | Scenarios for impact on profit and loss [member] | Later than five years and not later than seven years [member] | CLF [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 79.00% |
Interest rate risk [member] | Government [member] | Chile [member] | Scenarios for impact on profit and loss [member] | Later than seven years and not later than ten years [member] | CLP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 66.00% |
Interest rate risk [member] | Government [member] | Chile [member] | Scenarios for impact on profit and loss [member] | Later than seven years and not later than ten years [member] | CLF [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 81.00% |
Interest rate risk [member] | Government [member] | Chile [member] | Scenarios for impact on profit and loss [member] | Later than ten years and not later than twenty years [member] | CLP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 50.00% |
Interest rate risk [member] | Government [member] | Chile [member] | Scenarios for impact on profit and loss [member] | Later than ten years and not later than twenty years [member] | CLF [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 85.00% |
Interest rate risk [member] | Government [member] | Chile [member] | Scenarios for impact on profit and loss [member] | Later than twenty years [member] | CLP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 50.00% |
Interest rate risk [member] | Government [member] | Chile [member] | Scenarios for impact on profit and loss [member] | Later than twenty years [member] | CLF [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 81.00% |
Interest rate risk [member] | Government [member] | Chile [member] | Scenarios for impact on available for sale assets [member] | 1 Day [member] | CLP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 39.00% |
Interest rate risk [member] | Government [member] | Chile [member] | Scenarios for impact on available for sale assets [member] | 1 Day [member] | CLF [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 162.00% |
Interest rate risk [member] | Government [member] | Chile [member] | Scenarios for impact on available for sale assets [member] | Up to three months [member] | CLP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 39.00% |
Interest rate risk [member] | Government [member] | Chile [member] | Scenarios for impact on available for sale assets [member] | Up to three months [member] | CLF [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 162.00% |
Interest rate risk [member] | Government [member] | Chile [member] | Scenarios for impact on available for sale assets [member] | Not later than six months [member] | CLP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 39.00% |
Interest rate risk [member] | Government [member] | Chile [member] | Scenarios for impact on available for sale assets [member] | Not later than six months [member] | CLF [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 162.00% |
Interest rate risk [member] | Government [member] | Chile [member] | Scenarios for impact on available for sale assets [member] | Not later than nine months [member] | CLP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 42.00% |
Interest rate risk [member] | Government [member] | Chile [member] | Scenarios for impact on available for sale assets [member] | Not later than nine months [member] | CLF [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 159.00% |
Interest rate risk [member] | Government [member] | Chile [member] | Scenarios for impact on available for sale assets [member] | 1 year [member] | CLP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 46.00% |
Interest rate risk [member] | Government [member] | Chile [member] | Scenarios for impact on available for sale assets [member] | 1 year [member] | CLF [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 155.00% |
Interest rate risk [member] | Government [member] | Chile [member] | Scenarios for impact on available for sale assets [member] | 2 year [member] | CLP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 39.00% |
Interest rate risk [member] | Government [member] | Chile [member] | Scenarios for impact on available for sale assets [member] | 2 year [member] | CLF [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 93.00% |
Interest rate risk [member] | Government [member] | Chile [member] | Scenarios for impact on available for sale assets [member] | 3 year [member] | CLP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 52.00% |
Interest rate risk [member] | Government [member] | Chile [member] | Scenarios for impact on available for sale assets [member] | 3 year [member] | CLF [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 88.00% |
Interest rate risk [member] | Government [member] | Chile [member] | Scenarios for impact on available for sale assets [member] | 4 year [member] | CLP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 65.00% |
Interest rate risk [member] | Government [member] | Chile [member] | Scenarios for impact on available for sale assets [member] | 4 year [member] | CLF [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 83.00% |
Interest rate risk [member] | Government [member] | Chile [member] | Scenarios for impact on available for sale assets [member] | Later than five years and not later than seven years [member] | CLP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 77.00% |
Interest rate risk [member] | Government [member] | Chile [member] | Scenarios for impact on available for sale assets [member] | Later than five years and not later than seven years [member] | CLF [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 79.00% |
Interest rate risk [member] | Government [member] | Chile [member] | Scenarios for impact on available for sale assets [member] | Later than seven years and not later than ten years [member] | CLP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 66.00% |
Interest rate risk [member] | Government [member] | Chile [member] | Scenarios for impact on available for sale assets [member] | Later than seven years and not later than ten years [member] | CLF [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 81.00% |
Interest rate risk [member] | Government [member] | Chile [member] | Scenarios for impact on available for sale assets [member] | Later than ten years and not later than twenty years [member] | CLP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 50.00% |
Interest rate risk [member] | Government [member] | Chile [member] | Scenarios for impact on available for sale assets [member] | Later than ten years and not later than twenty years [member] | CLF [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 85.00% |
Interest rate risk [member] | Government [member] | Chile [member] | Scenarios for impact on available for sale assets [member] | Later than twenty years [member] | CLP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 50.00% |
Interest rate risk [member] | Government [member] | Chile [member] | Scenarios for impact on available for sale assets [member] | Later than twenty years [member] | CLF [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 81.00% |
Interest rate risk [member] | Government [member] | Colombia [member] | Scenarios for impact on profit and loss [member] | 1 Day [member] | COP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 137.00% |
Interest rate risk [member] | Government [member] | Colombia [member] | Scenarios for impact on profit and loss [member] | Up to three months [member] | COP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 133.00% |
Interest rate risk [member] | Government [member] | Colombia [member] | Scenarios for impact on profit and loss [member] | Not later than six months [member] | COP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 130.00% |
Interest rate risk [member] | Government [member] | Colombia [member] | Scenarios for impact on profit and loss [member] | Not later than nine months [member] | COP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 126.00% |
Interest rate risk [member] | Government [member] | Colombia [member] | Scenarios for impact on profit and loss [member] | 1 year [member] | COP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 122.00% |
Interest rate risk [member] | Government [member] | Colombia [member] | Scenarios for impact on profit and loss [member] | 2 year [member] | COP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 108.00% |
Interest rate risk [member] | Government [member] | Colombia [member] | Scenarios for impact on profit and loss [member] | 3 year [member] | COP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 93.00% |
Interest rate risk [member] | Government [member] | Colombia [member] | Scenarios for impact on profit and loss [member] | 4 year [member] | COP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 85.00% |
Interest rate risk [member] | Government [member] | Colombia [member] | Scenarios for impact on profit and loss [member] | Later than five years and not later than seven years [member] | COP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 86.00% |
Interest rate risk [member] | Government [member] | Colombia [member] | Scenarios for impact on profit and loss [member] | Later than seven years and not later than ten years [member] | COP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 88.00% |
Interest rate risk [member] | Government [member] | Colombia [member] | Scenarios for impact on profit and loss [member] | Later than ten years and not later than twenty years [member] | COP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 91.00% |
Interest rate risk [member] | Government [member] | Colombia [member] | Scenarios for impact on profit and loss [member] | Later than twenty years [member] | COP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 93.00% |
Interest rate risk [member] | Government [member] | Colombia [member] | Scenarios for impact on available for sale assets [member] | 1 Day [member] | COP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 137.00% |
Interest rate risk [member] | Government [member] | Colombia [member] | Scenarios for impact on available for sale assets [member] | Up to three months [member] | COP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 133.00% |
Interest rate risk [member] | Government [member] | Colombia [member] | Scenarios for impact on available for sale assets [member] | Not later than six months [member] | COP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 130.00% |
Interest rate risk [member] | Government [member] | Colombia [member] | Scenarios for impact on available for sale assets [member] | Not later than nine months [member] | COP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 126.00% |
Interest rate risk [member] | Government [member] | Colombia [member] | Scenarios for impact on available for sale assets [member] | 1 year [member] | COP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 122.00% |
Interest rate risk [member] | Government [member] | Colombia [member] | Scenarios for impact on available for sale assets [member] | 2 year [member] | COP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 108.00% |
Interest rate risk [member] | Government [member] | Colombia [member] | Scenarios for impact on available for sale assets [member] | 3 year [member] | COP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 93.00% |
Interest rate risk [member] | Government [member] | Colombia [member] | Scenarios for impact on available for sale assets [member] | 4 year [member] | COP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 85.00% |
Interest rate risk [member] | Government [member] | Colombia [member] | Scenarios for impact on available for sale assets [member] | Later than five years and not later than seven years [member] | COP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 86.00% |
Interest rate risk [member] | Government [member] | Colombia [member] | Scenarios for impact on available for sale assets [member] | Later than seven years and not later than ten years [member] | COP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 88.00% |
Interest rate risk [member] | Government [member] | Colombia [member] | Scenarios for impact on available for sale assets [member] | Later than ten years and not later than twenty years [member] | COP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 91.00% |
Interest rate risk [member] | Government [member] | Colombia [member] | Scenarios for impact on available for sale assets [member] | Later than twenty years [member] | COP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 93.00% |
Interest rate risk [member] | Curve [member] | Chile [member] | Scenarios for impact on profit and loss [member] | 1 Day [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 51.00% |
Interest rate risk [member] | Curve [member] | Chile [member] | Scenarios for impact on profit and loss [member] | 1 Day [member] | USD [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | (51.00%) |
Interest rate risk [member] | Curve [member] | Chile [member] | Scenarios for impact on profit and loss [member] | Up to three months [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 51.00% |
Interest rate risk [member] | Curve [member] | Chile [member] | Scenarios for impact on profit and loss [member] | Up to three months [member] | USD [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | (51.00%) |
Interest rate risk [member] | Curve [member] | Chile [member] | Scenarios for impact on profit and loss [member] | Not later than six months [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 51.00% |
Interest rate risk [member] | Curve [member] | Chile [member] | Scenarios for impact on profit and loss [member] | Not later than six months [member] | USD [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | (51.00%) |
Interest rate risk [member] | Curve [member] | Chile [member] | Scenarios for impact on profit and loss [member] | Not later than nine months [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 67.00% |
Interest rate risk [member] | Curve [member] | Chile [member] | Scenarios for impact on profit and loss [member] | Not later than nine months [member] | USD [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | (67.00%) |
Interest rate risk [member] | Curve [member] | Chile [member] | Scenarios for impact on profit and loss [member] | 1 year [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 86.00% |
Interest rate risk [member] | Curve [member] | Chile [member] | Scenarios for impact on profit and loss [member] | 1 year [member] | USD [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | (86.00%) |
Interest rate risk [member] | Curve [member] | Chile [member] | Scenarios for impact on profit and loss [member] | 2 year [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 101.00% |
Interest rate risk [member] | Curve [member] | Chile [member] | Scenarios for impact on profit and loss [member] | 2 year [member] | USD [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | (101.00%) |
Interest rate risk [member] | Curve [member] | Chile [member] | Scenarios for impact on profit and loss [member] | 3 year [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 103.00% |
Interest rate risk [member] | Curve [member] | Chile [member] | Scenarios for impact on profit and loss [member] | 3 year [member] | USD [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | (103.00%) |
Interest rate risk [member] | Curve [member] | Chile [member] | Scenarios for impact on profit and loss [member] | 4 year [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 105.00% |
Interest rate risk [member] | Curve [member] | Chile [member] | Scenarios for impact on profit and loss [member] | 4 year [member] | USD [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | (105.00%) |
Interest rate risk [member] | Curve [member] | Chile [member] | Scenarios for impact on profit and loss [member] | Later than five years and not later than seven years [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 106.00% |
Interest rate risk [member] | Curve [member] | Chile [member] | Scenarios for impact on profit and loss [member] | Later than five years and not later than seven years [member] | USD [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | (106.00%) |
Interest rate risk [member] | Curve [member] | Chile [member] | Scenarios for impact on profit and loss [member] | Later than seven years and not later than ten years [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 103.00% |
Interest rate risk [member] | Curve [member] | Chile [member] | Scenarios for impact on profit and loss [member] | Later than seven years and not later than ten years [member] | USD [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | (103.00%) |
Interest rate risk [member] | Curve [member] | Chile [member] | Scenarios for impact on profit and loss [member] | Later than ten years and not later than twenty years [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 98.00% |
Interest rate risk [member] | Curve [member] | Chile [member] | Scenarios for impact on profit and loss [member] | Later than ten years and not later than twenty years [member] | USD [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | (98.00%) |
Interest rate risk [member] | Curve [member] | Chile [member] | Scenarios for impact on profit and loss [member] | Later than twenty years [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 115.00% |
Interest rate risk [member] | Curve [member] | Chile [member] | Scenarios for impact on profit and loss [member] | Later than twenty years [member] | USD [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | (115.00%) |
Interest rate risk [member] | Curve [member] | Chile [member] | Scenarios for impact on available for sale assets [member] | 1 Day [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | (51.00%) |
Interest rate risk [member] | Curve [member] | Chile [member] | Scenarios for impact on available for sale assets [member] | 1 Day [member] | USD [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 51.00% |
Interest rate risk [member] | Curve [member] | Chile [member] | Scenarios for impact on available for sale assets [member] | Up to three months [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | (51.00%) |
Interest rate risk [member] | Curve [member] | Chile [member] | Scenarios for impact on available for sale assets [member] | Up to three months [member] | USD [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 51.00% |
Interest rate risk [member] | Curve [member] | Chile [member] | Scenarios for impact on available for sale assets [member] | Not later than six months [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | (51.00%) |
Interest rate risk [member] | Curve [member] | Chile [member] | Scenarios for impact on available for sale assets [member] | Not later than six months [member] | USD [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 51.00% |
Interest rate risk [member] | Curve [member] | Chile [member] | Scenarios for impact on available for sale assets [member] | Not later than nine months [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | (67.00%) |
Interest rate risk [member] | Curve [member] | Chile [member] | Scenarios for impact on available for sale assets [member] | Not later than nine months [member] | USD [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 67.00% |
Interest rate risk [member] | Curve [member] | Chile [member] | Scenarios for impact on available for sale assets [member] | 1 year [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | (86.00%) |
Interest rate risk [member] | Curve [member] | Chile [member] | Scenarios for impact on available for sale assets [member] | 1 year [member] | USD [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 86.00% |
Interest rate risk [member] | Curve [member] | Chile [member] | Scenarios for impact on available for sale assets [member] | 2 year [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | (101.00%) |
Interest rate risk [member] | Curve [member] | Chile [member] | Scenarios for impact on available for sale assets [member] | 2 year [member] | USD [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 101.00% |
Interest rate risk [member] | Curve [member] | Chile [member] | Scenarios for impact on available for sale assets [member] | 3 year [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | (103.00%) |
Interest rate risk [member] | Curve [member] | Chile [member] | Scenarios for impact on available for sale assets [member] | 3 year [member] | USD [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 103.00% |
Interest rate risk [member] | Curve [member] | Chile [member] | Scenarios for impact on available for sale assets [member] | 4 year [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | (105.00%) |
Interest rate risk [member] | Curve [member] | Chile [member] | Scenarios for impact on available for sale assets [member] | 4 year [member] | USD [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 105.00% |
Interest rate risk [member] | Curve [member] | Chile [member] | Scenarios for impact on available for sale assets [member] | Later than five years and not later than seven years [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | (106.00%) |
Interest rate risk [member] | Curve [member] | Chile [member] | Scenarios for impact on available for sale assets [member] | Later than five years and not later than seven years [member] | USD [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 106.00% |
Interest rate risk [member] | Curve [member] | Chile [member] | Scenarios for impact on available for sale assets [member] | Later than seven years and not later than ten years [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | (103.00%) |
Interest rate risk [member] | Curve [member] | Chile [member] | Scenarios for impact on available for sale assets [member] | Later than seven years and not later than ten years [member] | USD [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 103.00% |
Interest rate risk [member] | Curve [member] | Chile [member] | Scenarios for impact on available for sale assets [member] | Later than ten years and not later than twenty years [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | (98.00%) |
Interest rate risk [member] | Curve [member] | Chile [member] | Scenarios for impact on available for sale assets [member] | Later than ten years and not later than twenty years [member] | USD [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 98.00% |
Interest rate risk [member] | Curve [member] | Chile [member] | Scenarios for impact on available for sale assets [member] | Later than twenty years [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | (115.00%) |
Interest rate risk [member] | Curve [member] | Chile [member] | Scenarios for impact on available for sale assets [member] | Later than twenty years [member] | USD [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 115.00% |
Interest rate risk [member] | Curve [member] | Colombia [member] | Scenarios for impact on profit and loss [member] | 1 Day [member] | USD [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 13.00% |
Interest rate risk [member] | Curve [member] | Colombia [member] | Scenarios for impact on profit and loss [member] | Up to three months [member] | USD [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 17.00% |
Interest rate risk [member] | Curve [member] | Colombia [member] | Scenarios for impact on profit and loss [member] | Not later than six months [member] | USD [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 19.00% |
Interest rate risk [member] | Curve [member] | Colombia [member] | Scenarios for impact on profit and loss [member] | Not later than nine months [member] | USD [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 27.00% |
Interest rate risk [member] | Curve [member] | Colombia [member] | Scenarios for impact on profit and loss [member] | 1 year [member] | USD [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 35.00% |
Interest rate risk [member] | Curve [member] | Colombia [member] | Scenarios for impact on profit and loss [member] | 2 year [member] | USD [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 39.00% |
Interest rate risk [member] | Curve [member] | Colombia [member] | Scenarios for impact on profit and loss [member] | 3 year [member] | USD [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 35.00% |
Interest rate risk [member] | Curve [member] | Colombia [member] | Scenarios for impact on profit and loss [member] | 4 year [member] | USD [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 36.00% |
Interest rate risk [member] | Curve [member] | Colombia [member] | Scenarios for impact on profit and loss [member] | Later than five years and not later than seven years [member] | USD [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 37.00% |
Interest rate risk [member] | Curve [member] | Colombia [member] | Scenarios for impact on profit and loss [member] | Later than seven years and not later than ten years [member] | USD [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 39.00% |
Interest rate risk [member] | Curve [member] | Colombia [member] | Scenarios for impact on profit and loss [member] | Later than ten years and not later than twenty years [member] | USD [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 42.00% |
Interest rate risk [member] | Curve [member] | Colombia [member] | Scenarios for impact on profit and loss [member] | Later than twenty years [member] | USD [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 51.00% |
Interest rate risk [member] | Curve [member] | Colombia [member] | Scenarios for impact on available for sale assets [member] | 1 Day [member] | USD [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 13.00% |
Interest rate risk [member] | Curve [member] | Colombia [member] | Scenarios for impact on available for sale assets [member] | Up to three months [member] | USD [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 17.00% |
Interest rate risk [member] | Curve [member] | Colombia [member] | Scenarios for impact on available for sale assets [member] | Not later than six months [member] | USD [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 19.00% |
Interest rate risk [member] | Curve [member] | Colombia [member] | Scenarios for impact on available for sale assets [member] | Not later than nine months [member] | USD [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 27.00% |
Interest rate risk [member] | Curve [member] | Colombia [member] | Scenarios for impact on available for sale assets [member] | 1 year [member] | USD [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 35.00% |
Interest rate risk [member] | Curve [member] | Colombia [member] | Scenarios for impact on available for sale assets [member] | 2 year [member] | USD [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 39.00% |
Interest rate risk [member] | Curve [member] | Colombia [member] | Scenarios for impact on available for sale assets [member] | 3 year [member] | USD [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 35.00% |
Interest rate risk [member] | Curve [member] | Colombia [member] | Scenarios for impact on available for sale assets [member] | 4 year [member] | USD [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 36.00% |
Interest rate risk [member] | Curve [member] | Colombia [member] | Scenarios for impact on available for sale assets [member] | Later than five years and not later than seven years [member] | USD [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 37.00% |
Interest rate risk [member] | Curve [member] | Colombia [member] | Scenarios for impact on available for sale assets [member] | Later than seven years and not later than ten years [member] | USD [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 39.00% |
Interest rate risk [member] | Curve [member] | Colombia [member] | Scenarios for impact on available for sale assets [member] | Later than ten years and not later than twenty years [member] | USD [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 42.00% |
Interest rate risk [member] | Curve [member] | Colombia [member] | Scenarios for impact on available for sale assets [member] | Later than twenty years [member] | USD [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 51.00% |
Interest rate risk [member] | Swap IBR [member] | Colombia [member] | Scenarios for impact on profit and loss [member] | 1 Day [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 37.00% |
Interest rate risk [member] | Swap IBR [member] | Colombia [member] | Scenarios for impact on profit and loss [member] | Up to three months [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 40.00% |
Interest rate risk [member] | Swap IBR [member] | Colombia [member] | Scenarios for impact on profit and loss [member] | Not later than six months [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 78.00% |
Interest rate risk [member] | Swap IBR [member] | Colombia [member] | Scenarios for impact on profit and loss [member] | Not later than nine months [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 77.00% |
Interest rate risk [member] | Swap IBR [member] | Colombia [member] | Scenarios for impact on profit and loss [member] | 1 year [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 75.00% |
Interest rate risk [member] | Swap IBR [member] | Colombia [member] | Scenarios for impact on profit and loss [member] | 2 year [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 96.00% |
Interest rate risk [member] | Swap IBR [member] | Colombia [member] | Scenarios for impact on profit and loss [member] | 3 year [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 94.00% |
Interest rate risk [member] | Swap IBR [member] | Colombia [member] | Scenarios for impact on profit and loss [member] | 4 year [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 95.00% |
Interest rate risk [member] | Swap IBR [member] | Colombia [member] | Scenarios for impact on profit and loss [member] | Later than five years and not later than seven years [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 96.00% |
Interest rate risk [member] | Swap IBR [member] | Colombia [member] | Scenarios for impact on profit and loss [member] | Later than seven years and not later than ten years [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 98.00% |
Interest rate risk [member] | Swap IBR [member] | Colombia [member] | Scenarios for impact on profit and loss [member] | Later than ten years and not later than twenty years [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 101.00% |
Interest rate risk [member] | Swap IBR [member] | Colombia [member] | Scenarios for impact on profit and loss [member] | Later than twenty years [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 111.00% |
Interest rate risk [member] | Swap IBR [member] | Colombia [member] | Scenarios for impact on available for sale assets [member] | 1 Day [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 37.00% |
Interest rate risk [member] | Swap IBR [member] | Colombia [member] | Scenarios for impact on available for sale assets [member] | Up to three months [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 40.00% |
Interest rate risk [member] | Swap IBR [member] | Colombia [member] | Scenarios for impact on available for sale assets [member] | Not later than six months [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 78.00% |
Interest rate risk [member] | Swap IBR [member] | Colombia [member] | Scenarios for impact on available for sale assets [member] | Not later than nine months [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 77.00% |
Interest rate risk [member] | Swap IBR [member] | Colombia [member] | Scenarios for impact on available for sale assets [member] | 1 year [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 75.00% |
Interest rate risk [member] | Swap IBR [member] | Colombia [member] | Scenarios for impact on available for sale assets [member] | 2 year [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 96.00% |
Interest rate risk [member] | Swap IBR [member] | Colombia [member] | Scenarios for impact on available for sale assets [member] | 3 year [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 94.00% |
Interest rate risk [member] | Swap IBR [member] | Colombia [member] | Scenarios for impact on available for sale assets [member] | 4 year [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 95.00% |
Interest rate risk [member] | Swap IBR [member] | Colombia [member] | Scenarios for impact on available for sale assets [member] | Later than five years and not later than seven years [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 96.00% |
Interest rate risk [member] | Swap IBR [member] | Colombia [member] | Scenarios for impact on available for sale assets [member] | Later than seven years and not later than ten years [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 98.00% |
Interest rate risk [member] | Swap IBR [member] | Colombia [member] | Scenarios for impact on available for sale assets [member] | Later than ten years and not later than twenty years [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 101.00% |
Interest rate risk [member] | Swap IBR [member] | Colombia [member] | Scenarios for impact on available for sale assets [member] | Later than twenty years [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Interest rate scenarios percent | 111.00% |
Risk Management - Schedule of E
Risk Management - Schedule of Exchange Rate (Detail) | Dec. 31, 2020 |
Change in scenario impacting on profit and loss [member] | Colombia [member] | COP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Exchange Rate | (5.08%) |
Change in scenario impacting fair value of other comprehensive income [member] | Colombia [member] | COP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Exchange Rate | (5.08%) |
Change in scenario impacting accrual book [member] | Colombia [member] | COP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Exchange Rate | (5.08%) |
Currency risk [member] | Chile [member] | CLP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Exchange Rate | 10.86% |
Currency risk [member] | Chile [member] | COP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Exchange Rate | 10.42% |
Currency risk [member] | Colombia [member] | COP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Exchange Rate | 5.08% |
Currency risk [member] | Change in scenario impacting on profit and loss [member] | Chile [member] | CLP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Exchange Rate | (10.86%) |
Currency risk [member] | Change in scenario impacting on profit and loss [member] | Chile [member] | COP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Exchange Rate | 10.42% |
Currency risk [member] | Change in scenario impacting fair value of other comprehensive income [member] | Chile [member] | CLP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Exchange Rate | (10.86%) |
Currency risk [member] | Change in scenario impacting fair value of other comprehensive income [member] | Chile [member] | COP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Exchange Rate | 10.42% |
Currency risk [member] | Change in scenario impacting accrual book [member] | Chile [member] | CLP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Exchange Rate | (10.86%) |
Currency risk [member] | Change in scenario impacting accrual book [member] | Chile [member] | COP [member] | |
Disclosure of risk management strategy related to hedge accounting [line items] | |
Exchange Rate | 10.42% |
Risk Management - Schedule of P
Risk Management - Schedule of Potential Impact on P&L (Detail) - Scenarios for impact on profit and loss [member] - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Sensitivity analysis for interest rate risk [line items] | |||
Total rate risk | $ (23,025) | $ (14,207) | $ (43,370) |
Options risk | 16 | 89 | 156 |
Total impact | (23,172) | (14,881) | (43,064) |
CLP [member] | |||
Sensitivity analysis for interest rate risk [line items] | |||
Total rate risk | (8,403) | (4,881) | (5,019) |
CLP [member] | Derivatives [member] | |||
Sensitivity analysis for interest rate risk [line items] | |||
Total rate risk | (8,403) | (4,879) | (5,018) |
CLP [member] | Investments [member] | |||
Sensitivity analysis for interest rate risk [line items] | |||
Total rate risk | (2) | (1) | |
CLF [member] | |||
Sensitivity analysis for interest rate risk [line items] | |||
Total rate risk | (8,488) | (5,130) | (5,942) |
CLF [member] | Derivatives [member] | |||
Sensitivity analysis for interest rate risk [line items] | |||
Total rate risk | (8,488) | (5,130) | (5,942) |
COP [member] | |||
Sensitivity analysis for interest rate risk [line items] | |||
Total rate risk | (3,104) | (1,200) | (29,182) |
COP [member] | Derivatives [member] | |||
Sensitivity analysis for interest rate risk [line items] | |||
Total rate risk | (2,508) | (1,086) | (29,094) |
COP [member] | Investments [member] | |||
Sensitivity analysis for interest rate risk [line items] | |||
Total rate risk | (596) | (114) | (88) |
UVR | |||
Sensitivity analysis for interest rate risk [line items] | |||
Total rate risk | (133) | (108) | (375) |
UVR | Derivatives [member] | |||
Sensitivity analysis for interest rate risk [line items] | |||
Total rate risk | 3 | (102) | (364) |
UVR | Investments [member] | |||
Sensitivity analysis for interest rate risk [line items] | |||
Total rate risk | (136) | (6) | (11) |
USD [member] | |||
Sensitivity analysis for interest rate risk [line items] | |||
Total rate risk | (2,648) | (2,711) | (2,810) |
FX | |||
Sensitivity analysis for interest rate risk [line items] | |||
Total rate risk | (249) | (177) | (42) |
Total impact | $ (163) | $ (763) | $ 150 |
Risk Management - Schedule of_5
Risk Management - Schedule of Potential Impact on Accrual Book (Detail) - CLP ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of financial risk management [abstract] | |||
Interest rate shock sensitivity impact | $ (9,626) | $ (13,981) | $ (12,359) |
Risk Management - Schedule of_6
Risk Management - Schedule of Potential Impact on Equity & Prices (Detail) $ in Millions | 12 Months Ended | |||||||
Dec. 31, 2020USD ($) | Dec. 31, 2020CLP ($) | Dec. 31, 2019USD ($) | Dec. 31, 2019CLP ($) | Dec. 31, 2020CLP ($) | Dec. 31, 2019CLP ($) | Dec. 31, 2018USD ($) | Dec. 31, 2018CLP ($) | |
Sensitivity analysis for interest rate risk [line items] | ||||||||
Potential Impact on Equity | $ (939,994) | $ (792,905) | $ (684,881) | |||||
Impact of Change in Interest Rate | (80,240,000) | (87,070,000) | $ (57,175) | $ (65,243) | (46,750,000) | $ (32,577) | ||
Impact due to changes in exchange rate | (130,900) | $ (93,322) | (280,870) | $ (210,310) | ||||
Impact due to changes in prices | (211,140) | (367,940) | (150,497) | (275,553) | ||||
CLP [member] | ||||||||
Sensitivity analysis for interest rate risk [line items] | ||||||||
Potential Impact on Equity | (707,409) | (377,765) | (254,636) | |||||
Impact of Change in Interest Rate | (40,130,000) | (31,160,000) | (28,609) | (23,334) | (11,730,000) | (8,180) | ||
CLF [member] | ||||||||
Sensitivity analysis for interest rate risk [line items] | ||||||||
Potential Impact on Equity | (201,548) | (221,758) | (177,471) | |||||
Impact of Change in Interest Rate | (23,150,000) | (49,070,000) | (16,505) | (36,744) | (26,290,000) | (18,328) | ||
COP [member] | ||||||||
Sensitivity analysis for interest rate risk [line items] | ||||||||
Potential Impact on Equity | 35,889 | (49,254) | (189,242) | |||||
Impact of Change in Interest Rate | (8,130,000) | (1,370,000) | (5,780) | (1,023) | (5,740,000) | (3,988) | ||
Impact due to changes in exchange rate | (63,650) | (45,380) | (146,360) | (109,591) | ||||
UVR | ||||||||
Sensitivity analysis for interest rate risk [line items] | ||||||||
Potential Impact on Equity | (36,520) | (142,663) | (29,763) | |||||
Impact of Change in Interest Rate | (3,880,000) | (5,250,000) | (2,755) | (3,981) | (550,000) | (380) | ||
USD [member] | ||||||||
Sensitivity analysis for interest rate risk [line items] | ||||||||
Potential Impact on Equity | (42,030) | (2,353) | (33,769) | |||||
Impact of Change in Interest Rate | (4,360,000) | (140,000) | (3,107) | (105) | $ (2,440,000) | $ (1,701) | ||
Impact due to changes in exchange rate | (67,250) | $ (47,942) | (134,510) | $ (100,719) | ||||
FX | ||||||||
Sensitivity analysis for interest rate risk [line items] | ||||||||
Potential Impact on Equity | 11,624 | 888 | ||||||
Impact of Change in Interest Rate | $ (590,000) | $ (80,000) | $ (419) | $ (56) |
Risk Management - LIBOR Discont
Risk Management - LIBOR Discontinuity (Detail) $ in Millions | Dec. 31, 2020CLP ($) |
Disclosure of credit risk exposure [line items] | |
Maximum exposure to credit risk on financial assets | $ 14,620,557 |
Maximum exposure to credit risk on financial liabilities | 10,335,608 |
Non-derivative financial instruments | |
Disclosure of credit risk exposure [line items] | |
Maximum exposure to credit risk on financial assets | 1,632,335 |
Maximum exposure to credit risk on financial liabilities | 1,107,483 |
Credits and accounts receivable from customers | |
Disclosure of credit risk exposure [line items] | |
Maximum exposure to credit risk on financial assets | 1,632,335 |
Obligations with banks | |
Disclosure of credit risk exposure [line items] | |
Maximum exposure to credit risk on financial liabilities | 1,107,483 |
Derivative financial instruments | |
Disclosure of credit risk exposure [line items] | |
Maximum exposure to credit risk on financial assets | 12,988,222 |
Maximum exposure to credit risk on financial liabilities | 9,228,125 |
Notional amount | $ 32,966,228 |
Risk Management - Additional In
Risk Management - Additional Information (Detail) $ in Millions | 12 Months Ended | |
Dec. 31, 2020CLP ($)item | Dec. 31, 2019CLP ($) | |
Liquidity risk limits [line items] | ||
Minimum ratio of regulatory capital to consolidated risk weighted assets | 8.00% | |
Minimum ratio of core capital to total consolidated assets | 3.00% | |
Regulatory capital | $ 3,044,661 | $ 3,280,569 |
Number of risk categories | item | 5 | |
Minimum ratio of regulatory capital to consolidated risk weighted assets | 100.00% | |
Minimum regulatory capital ratio | 120.00% | |
Equity | $ 2,315,411 | $ 3,346,102 |
0 % risk weight category [member] | ||
Liquidity risk limits [line items] | ||
Percentage of risk categories in weighted assets | 0.00% | |
10 % risk weight category [member] | ||
Liquidity risk limits [line items] | ||
Percentage of risk categories in weighted assets | 10.00% | |
20% risk weight category [member] | ||
Liquidity risk limits [line items] | ||
Percentage of risk categories in weighted assets | 20.00% | |
60 % risk weight category [member] | ||
Liquidity risk limits [line items] | ||
Percentage of risk categories in weighted assets | 60.00% | |
100 % risk weight category [member] | ||
Liquidity risk limits [line items] | ||
Percentage of risk categories in weighted assets | 100.00% |
Risk Management - Schedule of R
Risk Management - Schedule of Risk Exposures of Contingent Loans Explanatory (Detail) - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of financial assets [line items] | ||
Consolidated assets | $ 35,339,754 | $ 34,908,107 |
Risk-Weighted Assets | 22,446,553 | 24,960,183 |
Cash and deposits in banks [member] | ||
Disclosure of financial assets [line items] | ||
Consolidated assets | 3,089,072 | 1,009,681 |
Cash items in process of collection [member] | ||
Disclosure of financial assets [line items] | ||
Consolidated assets | 173,192 | 231,305 |
Risk-Weighted Assets | 30,919 | 40,916 |
Trading investments [member] | ||
Disclosure of financial assets [line items] | ||
Consolidated assets | 580,369 | 181,402 |
Risk-Weighted Assets | 90,149 | 21,755 |
Investments under resale agreements [member] | ||
Disclosure of financial assets [line items] | ||
Consolidated assets | 105,580 | 75,975 |
Risk-Weighted Assets | 97,525 | 57,622 |
Derivative financial instruments | ||
Disclosure of financial assets [line items] | ||
Consolidated assets | 1,302,692 | 1,674,743 |
Risk-Weighted Assets | 859,464 | 1,215,171 |
Interbank loans [member] | ||
Disclosure of financial assets [line items] | ||
Consolidated assets | 7,115 | 56,205 |
Risk-Weighted Assets | 7,115 | 56,205 |
Loans and receivables from customers, net [member] | ||
Disclosure of financial assets [line items] | ||
Consolidated assets | 21,685,269 | 22,373,638 |
Risk-Weighted Assets | 18,634,870 | 20,112,889 |
Financial Investments Available-for-Sale [member] | ||
Disclosure of financial assets [line items] | ||
Consolidated assets | 3,964,720 | 3,593,204 |
Risk-Weighted Assets | 334,632 | 387,692 |
Financial assets at fair value through profit or loss, classified as held for trading, category [member] | ||
Disclosure of financial assets [line items] | ||
Consolidated assets | 111,643 | 115,682 |
Risk-Weighted Assets | 49,627 | 52,527 |
Investments in other companies [member] | ||
Disclosure of financial assets [line items] | ||
Consolidated assets | 11,983 | 14,938 |
Risk-Weighted Assets | 11,983 | 14,938 |
Intangible assets 1 [member] | ||
Disclosure of financial assets [line items] | ||
Consolidated assets | 718,683 | 1,617,745 |
Risk-Weighted Assets | 226,171 | 423,414 |
Fixed assets [member] | ||
Disclosure of financial assets [line items] | ||
Consolidated assets | 56,020 | 57,962 |
Risk-Weighted Assets | 56,020 | 57,962 |
Right-of-use asset under lease agreements [Member] | ||
Disclosure of financial assets [line items] | ||
Consolidated assets | 170,603 | 204,559 |
Risk-Weighted Assets | 170,603 | 204,559 |
Current income taxes [member] | ||
Disclosure of financial assets [line items] | ||
Consolidated assets | 64,699 | 85,516 |
Risk-Weighted Assets | 6,470 | 8,552 |
Deferred income taxes [member] | ||
Disclosure of financial assets [line items] | ||
Consolidated assets | 314,112 | 184,167 |
Risk-Weighted Assets | 31,411 | 18,417 |
Other assets [member] | ||
Disclosure of financial assets [line items] | ||
Consolidated assets | 602,769 | 783,447 |
Risk-Weighted Assets | 410,854 | 698,801 |
Contingent loans [member] | ||
Disclosure of financial assets [line items] | ||
Consolidated assets | 2,381,233 | 2,647,938 |
Risk-Weighted Assets | $ 1,428,740 | $ 1,588,763 |
Risk Management - Schedule of_7
Risk Management - Schedule of Risk Weighted Assets Explanatory (Detail) - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Risk management [abstract] | ||
Basic capital | $ 2,315,411 | $ 3,346,102 |
Effective equity | $ 3,044,661 | $ 3,280,569 |
Basic capital | 6.54% | 9.59% |
Effective equity | 13.56% | 13.14% |
Risk Management - Schedule of_8
Risk Management - Schedule of Risk Weighted Assets Explanatory Other (Detail) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of financial assets [line items] | ||
Percentage of basic capital | 6.54% | 9.59% |
Bottom of Range [Member] | ||
Disclosure of financial assets [line items] | ||
Percentage of basic capital | 20.00% | |
Top of Range [Member] | ||
Disclosure of financial assets [line items] | ||
Percentage of basic capital | 50.00% | |
Percentage of voluntary loan loss allowances | 1.25% |
Maturity of Assets and Liabil_3
Maturity of Assets and Liabilities - Schedule of Maturity of Financial Assets and Liabilities (Detail) - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of financial assets [line items] | |||
Total | $ 27,420,674 | ||
Financial liabilities total [member] | |||
Disclosure of financial assets [line items] | |||
Total | $ 25,901,225 | 24,345,714 | |
Investments under Agreements to Resell [Member] | |||
Disclosure of financial assets [line items] | |||
Total | 638,851 | 559,457 | |
Time deposits and saving accounts [member] | |||
Disclosure of financial assets [line items] | |||
Total | 11,433,064 | 11,620,187 | |
Derivative financial instrument liabilities [member] | |||
Disclosure of financial assets [line items] | |||
Total | 3,673,591 | 2,938,034 | |
Interbank borrowings [member] | |||
Disclosure of financial assets [line items] | |||
Total | 3,798,978 | 2,646,756 | |
Lease obligations [member] | |||
Disclosure of financial assets [line items] | |||
Total | 151,885 | 172,924 | |
Debt Issued [member] | |||
Disclosure of financial assets [line items] | |||
Total | 6,204,856 | 6,408,356 | |
Financial assets total [member] | |||
Disclosure of financial assets [line items] | |||
Total | 31,378,646 | 30,320,822 | |
Loans and receivables from banks, net [member] | |||
Disclosure of financial assets [line items] | |||
Total | 7,131 | 56,826 | |
Allowance for loan losses | 10 | 239 | |
Financial assets at fair value through profit or loss, classified as held for trading, category [member] | |||
Disclosure of financial assets [line items] | |||
Total | 582,710 | 183,702 | |
Financial assets at fair value through other comprehensive income [member] | |||
Disclosure of financial assets [line items] | |||
Total | 3,970,899 | 3,598,890 | |
Loans and receivables from customers, net [member] | |||
Disclosure of financial assets [line items] | |||
Total | 22,617,981 | 23,134,814 | |
Commercial loans [member] | |||
Disclosure of financial assets [line items] | |||
Total | 14,808,799 | 15,460,544 | |
Allowance for loan losses | 747,617 | 545,199 | $ 484,707 |
Mortgage [member] | |||
Disclosure of financial assets [line items] | |||
Total | 5,316,753 | 4,876,041 | |
Consumer loans [member] | |||
Disclosure of financial assets [line items] | |||
Total | 2,492,429 | 2,798,229 | |
Allowance for loan losses | 220,791 | 256,417 | |
Financial assets at amortised cost [member] | |||
Disclosure of financial assets [line items] | |||
Total | 111,542 | 115,658 | |
Investments under Agreements to Resell [Member] | |||
Disclosure of financial assets [line items] | |||
Total | 105,580 | 75,975 | |
Derivative financial instruments | |||
Disclosure of financial assets [line items] | |||
Total | 3,982,803 | 3,154,957 | |
Up to one month [member] | Financial liabilities total [member] | |||
Disclosure of financial assets [line items] | |||
Total | 5,544,307 | 4,863,498 | |
Up to one month [member] | Investments under Agreements to Resell [Member] | |||
Disclosure of financial assets [line items] | |||
Total | 637,751 | 559,457 | |
Up to one month [member] | Time deposits and saving accounts [member] | |||
Disclosure of financial assets [line items] | |||
Total | 4,627,676 | 3,946,542 | |
Up to one month [member] | Derivative financial instrument liabilities [member] | |||
Disclosure of financial assets [line items] | |||
Total | 171,119 | 235,652 | |
Up to one month [member] | Interbank borrowings [member] | |||
Disclosure of financial assets [line items] | |||
Total | 103,194 | 90,251 | |
Up to one month [member] | Lease obligations [member] | |||
Disclosure of financial assets [line items] | |||
Total | 2,927 | 1,177 | |
Up to one month [member] | Debt Issued [member] | |||
Disclosure of financial assets [line items] | |||
Total | 1,640 | 30,419 | |
Up to one month [member] | Financial assets total [member] | |||
Disclosure of financial assets [line items] | |||
Total | 3,350,734 | 2,233,812 | |
Up to one month [member] | Loans and receivables from banks, net [member] | |||
Disclosure of financial assets [line items] | |||
Total | 55,881 | ||
Up to one month [member] | Financial assets at fair value through profit or loss, classified as held for trading, category [member] | |||
Disclosure of financial assets [line items] | |||
Total | 55,516 | 20,465 | |
Up to one month [member] | Financial assets at fair value through other comprehensive income [member] | |||
Disclosure of financial assets [line items] | |||
Total | 1,127,310 | 258,843 | |
Up to one month [member] | Loans and receivables from customers, net [member] | |||
Disclosure of financial assets [line items] | |||
Total | 1,956,465 | 1,641,670 | |
Up to one month [member] | Commercial loans [member] | |||
Disclosure of financial assets [line items] | |||
Total | 1,387,069 | 1,443,029 | |
Up to one month [member] | Mortgage [member] | |||
Disclosure of financial assets [line items] | |||
Total | 1,980 | 3,040 | |
Up to one month [member] | Consumer loans [member] | |||
Disclosure of financial assets [line items] | |||
Total | 567,416 | 195,601 | |
Up to one month [member] | Financial assets at amortised cost [member] | |||
Disclosure of financial assets [line items] | |||
Total | 18,197 | 29,026 | |
Up to one month [member] | Investments under Agreements to Resell [Member] | |||
Disclosure of financial assets [line items] | |||
Total | 19,933 | 75,975 | |
Up to one month [member] | Derivative financial instruments | |||
Disclosure of financial assets [line items] | |||
Total | 173,313 | 151,952 | |
1 - 3 months [member] | Financial liabilities total [member] | |||
Disclosure of financial assets [line items] | |||
Total | 2,532,057 | 2,900,859 | |
1 - 3 months [member] | Investments under Agreements to Resell [Member] | |||
Disclosure of financial assets [line items] | |||
Total | 1,100 | ||
1 - 3 months [member] | Time deposits and saving accounts [member] | |||
Disclosure of financial assets [line items] | |||
Total | 2,385,542 | 2,432,029 | |
1 - 3 months [member] | Derivative financial instrument liabilities [member] | |||
Disclosure of financial assets [line items] | |||
Total | 18,551 | 145,905 | |
1 - 3 months [member] | Interbank borrowings [member] | |||
Disclosure of financial assets [line items] | |||
Total | 119,061 | 246,214 | |
1 - 3 months [member] | Lease obligations [member] | |||
Disclosure of financial assets [line items] | |||
Total | 7,258 | 76,333 | |
1 - 3 months [member] | Debt Issued [member] | |||
Disclosure of financial assets [line items] | |||
Total | 545 | 378 | |
1 - 3 months [member] | Financial assets total [member] | |||
Disclosure of financial assets [line items] | |||
Total | 1,679,035 | 3,097,051 | |
1 - 3 months [member] | Loans and receivables from banks, net [member] | |||
Disclosure of financial assets [line items] | |||
Total | 7,131 | ||
1 - 3 months [member] | Financial assets at fair value through profit or loss, classified as held for trading, category [member] | |||
Disclosure of financial assets [line items] | |||
Total | 65,370 | 54,382 | |
1 - 3 months [member] | Financial assets at fair value through other comprehensive income [member] | |||
Disclosure of financial assets [line items] | |||
Total | 97,970 | 151,014 | |
1 - 3 months [member] | Loans and receivables from customers, net [member] | |||
Disclosure of financial assets [line items] | |||
Total | 1,457,769 | 2,723,589 | |
1 - 3 months [member] | Commercial loans [member] | |||
Disclosure of financial assets [line items] | |||
Total | 1,436,296 | 2,209,624 | |
1 - 3 months [member] | Mortgage [member] | |||
Disclosure of financial assets [line items] | |||
Total | 420 | 550 | |
1 - 3 months [member] | Consumer loans [member] | |||
Disclosure of financial assets [line items] | |||
Total | 21,053 | 513,415 | |
1 - 3 months [member] | Financial assets at amortised cost [member] | |||
Disclosure of financial assets [line items] | |||
Total | 7,543 | ||
1 - 3 months [member] | Investments under Agreements to Resell [Member] | |||
Disclosure of financial assets [line items] | |||
Total | 40,537 | ||
1 - 3 months [member] | Derivative financial instruments | |||
Disclosure of financial assets [line items] | |||
Total | 10,258 | 160,523 | |
3 months to 1 year [member] | Financial liabilities total [member] | |||
Disclosure of financial assets [line items] | |||
Total | 4,860,803 | 6,651,458 | |
3 months to 1 year [member] | Time deposits and saving accounts [member] | |||
Disclosure of financial assets [line items] | |||
Total | 3,311,082 | 3,913,833 | |
3 months to 1 year [member] | Derivative financial instrument liabilities [member] | |||
Disclosure of financial assets [line items] | |||
Total | 483,102 | 283,404 | |
3 months to 1 year [member] | Interbank borrowings [member] | |||
Disclosure of financial assets [line items] | |||
Total | 719,886 | 1,781,437 | |
3 months to 1 year [member] | Lease obligations [member] | |||
Disclosure of financial assets [line items] | |||
Total | 20,645 | 52,074 | |
3 months to 1 year [member] | Debt Issued [member] | |||
Disclosure of financial assets [line items] | |||
Total | 326,088 | 620,710 | |
3 months to 1 year [member] | Financial assets total [member] | |||
Disclosure of financial assets [line items] | |||
Total | 3,486,609 | 3,831,075 | |
3 months to 1 year [member] | Loans and receivables from banks, net [member] | |||
Disclosure of financial assets [line items] | |||
Total | 945 | ||
3 months to 1 year [member] | Financial assets at fair value through profit or loss, classified as held for trading, category [member] | |||
Disclosure of financial assets [line items] | |||
Total | 77,021 | 39,730 | |
3 months to 1 year [member] | Financial assets at fair value through other comprehensive income [member] | |||
Disclosure of financial assets [line items] | |||
Total | 486,354 | 609,862 | |
3 months to 1 year [member] | Loans and receivables from customers, net [member] | |||
Disclosure of financial assets [line items] | |||
Total | 2,260,698 | 2,796,116 | |
3 months to 1 year [member] | Commercial loans [member] | |||
Disclosure of financial assets [line items] | |||
Total | 2,167,838 | 2,693,582 | |
3 months to 1 year [member] | Mortgage [member] | |||
Disclosure of financial assets [line items] | |||
Total | 2,952 | 2,760 | |
3 months to 1 year [member] | Consumer loans [member] | |||
Disclosure of financial assets [line items] | |||
Total | 89,908 | 99,774 | |
3 months to 1 year [member] | Financial assets at amortised cost [member] | |||
Disclosure of financial assets [line items] | |||
Total | 92,698 | 78,138 | |
3 months to 1 year [member] | Investments under Agreements to Resell [Member] | |||
Disclosure of financial assets [line items] | |||
Total | 43,633 | ||
3 months to 1 year [member] | Derivative financial instruments | |||
Disclosure of financial assets [line items] | |||
Total | 526,205 | 306,284 | |
1 - 3 years [member] | Financial liabilities total [member] | |||
Disclosure of financial assets [line items] | |||
Total | 3,191,381 | 2,789,100 | |
1 - 3 years [member] | Time deposits and saving accounts [member] | |||
Disclosure of financial assets [line items] | |||
Total | 661,139 | 827,802 | |
1 - 3 years [member] | Derivative financial instrument liabilities [member] | |||
Disclosure of financial assets [line items] | |||
Total | 669,539 | 580,829 | |
1 - 3 years [member] | Interbank borrowings [member] | |||
Disclosure of financial assets [line items] | |||
Total | 970,810 | 406,539 | |
1 - 3 years [member] | Lease obligations [member] | |||
Disclosure of financial assets [line items] | |||
Total | 51,861 | 14,561 | |
1 - 3 years [member] | Debt Issued [member] | |||
Disclosure of financial assets [line items] | |||
Total | 838,032 | 959,369 | |
1 - 3 years [member] | Financial assets total [member] | |||
Disclosure of financial assets [line items] | |||
Total | 4,521,934 | 4,734,648 | |
1 - 3 years [member] | Financial assets at fair value through profit or loss, classified as held for trading, category [member] | |||
Disclosure of financial assets [line items] | |||
Total | 176,681 | 39,822 | |
1 - 3 years [member] | Financial assets at fair value through other comprehensive income [member] | |||
Disclosure of financial assets [line items] | |||
Total | 870,028 | 1,515,340 | |
1 - 3 years [member] | Loans and receivables from customers, net [member] | |||
Disclosure of financial assets [line items] | |||
Total | 2,834,427 | 2,576,345 | |
1 - 3 years [member] | Commercial loans [member] | |||
Disclosure of financial assets [line items] | |||
Total | 2,258,716 | 1,962,306 | |
1 - 3 years [member] | Mortgage [member] | |||
Disclosure of financial assets [line items] | |||
Total | 26,153 | 22,657 | |
1 - 3 years [member] | Consumer loans [member] | |||
Disclosure of financial assets [line items] | |||
Total | 549,558 | 591,382 | |
1 - 3 years [member] | Financial assets at amortised cost [member] | |||
Disclosure of financial assets [line items] | |||
Total | 647 | 951 | |
1 - 3 years [member] | Investments under Agreements to Resell [Member] | |||
Disclosure of financial assets [line items] | |||
Total | 692 | ||
1 - 3 years [member] | Derivative financial instruments | |||
Disclosure of financial assets [line items] | |||
Total | 639,459 | 602,190 | |
3-6 years [member] | Financial liabilities total [member] | |||
Disclosure of financial assets [line items] | |||
Total | 4,798,736 | 2,324,696 | |
3-6 years [member] | Time deposits and saving accounts [member] | |||
Disclosure of financial assets [line items] | |||
Total | 123,689 | 128,756 | |
3-6 years [member] | Derivative financial instrument liabilities [member] | |||
Disclosure of financial assets [line items] | |||
Total | 878,157 | 703,285 | |
3-6 years [member] | Interbank borrowings [member] | |||
Disclosure of financial assets [line items] | |||
Total | 1,874,093 | 96,281 | |
3-6 years [member] | Lease obligations [member] | |||
Disclosure of financial assets [line items] | |||
Total | 49,170 | 20,734 | |
3-6 years [member] | Debt Issued [member] | |||
Disclosure of financial assets [line items] | |||
Total | 1,873,627 | 1,375,640 | |
3-6 years [member] | Financial assets total [member] | |||
Disclosure of financial assets [line items] | |||
Total | 6,354,918 | 5,364,051 | |
3-6 years [member] | Financial assets at fair value through profit or loss, classified as held for trading, category [member] | |||
Disclosure of financial assets [line items] | |||
Total | 192,719 | 26,703 | |
3-6 years [member] | Financial assets at fair value through other comprehensive income [member] | |||
Disclosure of financial assets [line items] | |||
Total | 1,312,994 | 896,383 | |
3-6 years [member] | Loans and receivables from customers, net [member] | |||
Disclosure of financial assets [line items] | |||
Total | 3,929,783 | 3,778,435 | |
3-6 years [member] | Commercial loans [member] | |||
Disclosure of financial assets [line items] | |||
Total | 2,769,842 | 2,516,050 | |
3-6 years [member] | Mortgage [member] | |||
Disclosure of financial assets [line items] | |||
Total | 181,838 | 115,878 | |
3-6 years [member] | Consumer loans [member] | |||
Disclosure of financial assets [line items] | |||
Total | 978,103 | 1,146,507 | |
3-6 years [member] | Investments under Agreements to Resell [Member] | |||
Disclosure of financial assets [line items] | |||
Total | 785 | ||
3-6 years [member] | Derivative financial instruments | |||
Disclosure of financial assets [line items] | |||
Total | 918,637 | 662,530 | |
Over 6 year [member] | Financial liabilities total [member] | |||
Disclosure of financial assets [line items] | |||
Total | 4,973,941 | 4,816,103 | |
Over 6 year [member] | Time deposits and saving accounts [member] | |||
Disclosure of financial assets [line items] | |||
Total | 323,936 | 371,225 | |
Over 6 year [member] | Derivative financial instrument liabilities [member] | |||
Disclosure of financial assets [line items] | |||
Total | 1,453,123 | 988,959 | |
Over 6 year [member] | Interbank borrowings [member] | |||
Disclosure of financial assets [line items] | |||
Total | 11,934 | 26,034 | |
Over 6 year [member] | Lease obligations [member] | |||
Disclosure of financial assets [line items] | |||
Total | 20,024 | 8,045 | |
Over 6 year [member] | Debt Issued [member] | |||
Disclosure of financial assets [line items] | |||
Total | 3,164,924 | 3,421,840 | |
Over 6 year [member] | Financial assets total [member] | |||
Disclosure of financial assets [line items] | |||
Total | 11,985,416 | 11,060,185 | |
Over 6 year [member] | Financial assets at fair value through profit or loss, classified as held for trading, category [member] | |||
Disclosure of financial assets [line items] | |||
Total | 15,403 | 2,600 | |
Over 6 year [member] | Financial assets at fair value through other comprehensive income [member] | |||
Disclosure of financial assets [line items] | |||
Total | 76,243 | 167,448 | |
Over 6 year [member] | Loans and receivables from customers, net [member] | |||
Disclosure of financial assets [line items] | |||
Total | 10,178,839 | 9,618,659 | |
Over 6 year [member] | Commercial loans [member] | |||
Disclosure of financial assets [line items] | |||
Total | 4,789,038 | 4,635,953 | |
Over 6 year [member] | Mortgage [member] | |||
Disclosure of financial assets [line items] | |||
Total | 5,103,410 | 4,731,156 | |
Over 6 year [member] | Consumer loans [member] | |||
Disclosure of financial assets [line items] | |||
Total | 286,391 | 251,550 | |
Over 6 year [member] | Derivative financial instruments | |||
Disclosure of financial assets [line items] | |||
Total | $ 1,714,931 | $ 1,271,478 |
Maturity of Assets and Liabil_4
Maturity of Assets and Liabilities - Schedule of Maturity of Financial Assets and Liabilities Other (Detail) - CLP ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Loans and receivables from banks, net [member] | |||
Disclosure of financial assets [line items] | |||
Allowance for loan losses | $ 10 | $ 239 | |
Commercial loans [member] | |||
Disclosure of financial assets [line items] | |||
Allowance for loan losses | 747,617 | 545,199 | $ 484,707 |
Consumer loans [member] | |||
Disclosure of financial assets [line items] | |||
Allowance for loan losses | 220,791 | 256,417 | |
Loans and receivables from customers, net [member] | Commercial loans [member] | |||
Disclosure of financial assets [line items] | |||
Allowance for loan losses | 747,617 | 545,119 | |
Loans and receivables from customers, net [member] | Mortgage [member] | |||
Disclosure of financial assets [line items] | |||
Allowance for loan losses | 73,465 | 78,501 | |
Loans and receivables from customers, net [member] | Consumer loans [member] | |||
Disclosure of financial assets [line items] | |||
Allowance for loan losses | $ 220,791 | $ 256,417 |
Foreign Currency Position - Sch
Foreign Currency Position - Schedule of Assets and Liabilities Denominated in Foreign Currencies (Detail) $ in Millions, $ in Millions | Dec. 31, 2020USD ($) | Dec. 31, 2020CLP ($) | Dec. 31, 2019CLP ($) | Dec. 31, 2018CLP ($) |
Disclosure of financial assets [line items] | ||||
Cash and deposits in banks | $ 3,089,072 | $ 1,009,681 | ||
Cash items in process of collection | 173,192 | 231,305 | ||
Financial instruments at fair value through profit or loss | 582,710 | 183,702 | ||
Financial instruments at fair value through other comprehensive income | 3,970,899 | 3,598,890 | ||
Financial instruments at amortized cost | 111,542 | 115,658 | ||
Investments under resale agreements | 105,580 | 75,975 | ||
Investment in associates | 7,149 | 9,605 | ||
Financial derivative contracts | 3,982,803 | 3,154,957 | ||
Interbank loans, net | 7,121 | 56,396 | ||
Intangible assets | 718,683 | 1,574,433 | ||
Property, plant and equipment | 80,615 | 95,080 | $ 95,564 | |
Right of use asset under lease agreements | 146,008 | 167,441 | 176,795 | |
Current taxes | 64,699 | 85,516 | ||
Deferred taxes | 312,556 | 208,657 | ||
Other assets | 542,633 | 770,861 | ||
Other non-current assets held for sale | 15,078 | 17,202 | ||
TOTAL ASSETS | 35,486,448 | 33,610,056 | ||
Deposits and other demand liabilities | 6,197,406 | 4,873,448 | ||
Cash in process of being cleared | 154,232 | 164,573 | ||
Obligations under repurchase agreements | 638,851 | 559,457 | ||
Time deposits and other time liabilities | 11,433,064 | 11,620,187 | ||
Financial derivative contracts | 3,673,591 | 2,938,034 | ||
Interbank borrowings | 3,798,978 | 2,646,756 | ||
Debt instruments issued | 6,204,856 | 6,408,356 | ||
Other financial liabilities | 13,123 | 12,966 | ||
Lease contracts liabilities | 151,885 | 172,924 | 176,795 | |
Current taxes | 1,766 | 13 | ||
Deferred taxes | 237 | 263 | ||
Provisions | 135,090 | 177,827 | $ 214,903 | |
Other liabilities | 700,034 | 708,914 | ||
Liabilities directly associated with non-current assets held for sale | 0 | 0 | ||
TOTAL LIABILITIES | 33,103,113 | 30,283,718 | ||
Assets (liabilities) net | 2,383,335 | 3,326,338 | ||
CLP [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial instruments at fair value through profit or loss | 145,316 | 112,224 | ||
Financial instruments at fair value through other comprehensive income | 2,556,706 | 1,600,147 | ||
Investment in associates | 7,149 | 5,833 | ||
Right of use asset under lease agreements | 111,452 | 121,241 | ||
Other non-current assets held for sale | 13,269 | 17,202 | ||
TOTAL ASSETS | 35,486,448 | |||
Cash in process of being cleared | 82,287 | 100,395 | ||
Financial derivative contracts | 2,031,193 | 1,960,447 | ||
Interbank borrowings | 2,257,226 | |||
Other financial liabilities | 13,123 | 12,956 | ||
Lease contracts liabilities | 561 | 659 | ||
Assets (liabilities) net | (3,430,035) | (1,807,769) | ||
Hungary, Forint | ||||
Disclosure of financial assets [line items] | ||||
Financial instruments at fair value through profit or loss | 355 | |||
Financial instruments at fair value through other comprehensive income | 696,307 | 1,023,726 | ||
Financial derivative contracts | 476,910 | 402,899 | ||
Other financial liabilities | 10 | |||
Lease contracts liabilities | 118,189 | 129,034 | ||
Assets (liabilities) net | 4,247,788 | 4,069,472 | ||
USD [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial instruments at fair value through other comprehensive income | 103,503 | 124,310 | ||
Financial instruments at amortized cost | 7,202 | 30,123 | ||
Interbank loans, net | 7,121 | 35,944 | ||
Right of use asset under lease agreements | 6,061 | 7,936 | ||
TOTAL ASSETS | $ 49,930 | |||
Cash in process of being cleared | 52,244 | 64,178 | ||
Financial derivative contracts | 986,508 | 476,568 | ||
Interbank borrowings | 1,384,248 | 2,563,630 | ||
Lease contracts liabilities | 6,987 | 7,689 | ||
Assets (liabilities) net | 880,653 | (225,431) | ||
COP [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial instruments at fair value through profit or loss | 437,039 | 71,478 | ||
Financial instruments at fair value through other comprehensive income | 614,383 | 850,707 | ||
Financial instruments at amortized cost | 104,340 | 85,535 | ||
Investment in associates | 3,772 | |||
Interbank loans, net | 20,452 | |||
Right of use asset under lease agreements | 28,495 | 38,264 | ||
Other non-current assets held for sale | 1,809 | |||
Cash in process of being cleared | 1 | |||
Financial derivative contracts | 170,598 | 97,212 | ||
Interbank borrowings | 47,768 | 83,126 | ||
Lease contracts liabilities | 25,992 | 35,273 | ||
Assets (liabilities) net | 753,884 | 1,283,019 | ||
Euro [Member] | ||||
Disclosure of financial assets [line items] | ||||
Cash in process of being cleared | 1,528 | |||
Financial derivative contracts | 8,382 | 908 | ||
Interbank borrowings | 368 | |||
Assets (liabilities) net | 26,520 | 1,172 | ||
Other Currency [member] | ||||
Disclosure of financial assets [line items] | ||||
Cash in process of being cleared | 18,172 | |||
Interbank borrowings | 109,368 | |||
Assets (liabilities) net | (95,127) | |||
Cash and deposits in banks [member] | ||||
Disclosure of financial assets [line items] | ||||
Cash and deposits in banks | 3,089,072 | 1,009,681 | ||
Cash and deposits in banks [member] | CLP [member] | ||||
Disclosure of financial assets [line items] | ||||
Cash and deposits in banks | 1,232,614 | 243,754 | ||
Cash and deposits in banks [member] | USD [member] | ||||
Disclosure of financial assets [line items] | ||||
Cash and deposits in banks | 1,501,888 | 364,594 | ||
Cash and deposits in banks [member] | COP [member] | ||||
Disclosure of financial assets [line items] | ||||
Cash and deposits in banks | 294,522 | 398,780 | ||
Cash and deposits in banks [member] | Euro [Member] | ||||
Disclosure of financial assets [line items] | ||||
Cash and deposits in banks | 28,315 | 2,553 | ||
Cash and deposits in banks [member] | Other Currency [member] | ||||
Disclosure of financial assets [line items] | ||||
Cash and deposits in banks | 31,733 | |||
Cash In The Process Of Collection [member] | ||||
Disclosure of financial assets [line items] | ||||
Cash items in process of collection | 173,192 | 231,305 | ||
Cash In The Process Of Collection [member] | CLP [member] | ||||
Disclosure of financial assets [line items] | ||||
Cash items in process of collection | 110,503 | 150,463 | ||
Cash In The Process Of Collection [member] | USD [member] | ||||
Disclosure of financial assets [line items] | ||||
Cash items in process of collection | 61,819 | 80,132 | ||
Cash In The Process Of Collection [member] | COP [member] | ||||
Disclosure of financial assets [line items] | ||||
Cash items in process of collection | 93 | 710 | ||
Cash In The Process Of Collection [member] | Euro [Member] | ||||
Disclosure of financial assets [line items] | ||||
Cash items in process of collection | 9 | |||
Cash In The Process Of Collection [member] | Other Currency [member] | ||||
Disclosure of financial assets [line items] | ||||
Cash items in process of collection | 768 | |||
Loans and receivables from banks, net [member] | ||||
Disclosure of financial assets [line items] | ||||
Loans and accounts receivable at amortized cost | 21,576,108 | 22,254,697 | ||
Loans and receivables from banks, net [member] | CLP [member] | ||||
Disclosure of financial assets [line items] | ||||
Loans and accounts receivable at amortized cost | 5,768,428 | 5,678,458 | ||
Loans and receivables from banks, net [member] | Hungary, Forint | ||||
Disclosure of financial assets [line items] | ||||
Loans and accounts receivable at amortized cost | 8,959,138 | 8,749,298 | ||
Loans and receivables from banks, net [member] | USD [member] | ||||
Disclosure of financial assets [line items] | ||||
Loans and accounts receivable at amortized cost | 2,859,253 | 3,459,607 | ||
Loans and receivables from banks, net [member] | COP [member] | ||||
Disclosure of financial assets [line items] | ||||
Loans and accounts receivable at amortized cost | 3,955,993 | 4,355,845 | ||
Loans and receivables from banks, net [member] | Euro [Member] | ||||
Disclosure of financial assets [line items] | ||||
Loans and accounts receivable at amortized cost | 23,704 | 841 | ||
Investments under Agreements to Resell [Member] | ||||
Disclosure of financial assets [line items] | ||||
Investments under resale agreements | 105,580 | 75,975 | ||
Investments under Agreements to Resell [Member] | CLP [member] | ||||
Disclosure of financial assets [line items] | ||||
Investments under resale agreements | 84,173 | 46,686 | ||
Investments under Agreements to Resell [Member] | COP [member] | ||||
Disclosure of financial assets [line items] | ||||
Investments under resale agreements | 21,407 | 29,289 | ||
Derivative financial instruments | ||||
Disclosure of financial assets [line items] | ||||
Financial derivative contracts | 3,982,803 | 3,154,957 | ||
Derivative financial instruments | CLP [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial derivative contracts | 2,529,980 | 2,199,266 | ||
Derivative financial instruments | Hungary, Forint | ||||
Disclosure of financial assets [line items] | ||||
Financial derivative contracts | 387,035 | 324,414 | ||
Derivative financial instruments | USD [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial derivative contracts | 1,039,536 | 536,936 | ||
Derivative financial instruments | COP [member] | ||||
Disclosure of financial assets [line items] | ||||
Financial derivative contracts | 19,967 | 93,427 | ||
Derivative financial instruments | Euro [Member] | ||||
Disclosure of financial assets [line items] | ||||
Financial derivative contracts | 6,285 | 914 | ||
Intangible assets 1 [member] | ||||
Disclosure of financial assets [line items] | ||||
Intangible assets | 718,683 | 1,574,433 | ||
Intangible assets 1 [member] | CLP [member] | ||||
Disclosure of financial assets [line items] | ||||
Intangible assets | 682,523 | 1,400,449 | ||
Intangible assets 1 [member] | USD [member] | ||||
Disclosure of financial assets [line items] | ||||
Intangible assets | 172 | 1,104 | ||
Intangible assets 1 [member] | COP [member] | ||||
Disclosure of financial assets [line items] | ||||
Intangible assets | 35,988 | 172,880 | ||
Property, plant and equipment, net [member] | ||||
Disclosure of financial assets [line items] | ||||
Property, plant and equipment | 80,615 | 95,080 | ||
Property, plant and equipment, net [member] | CLP [member] | ||||
Disclosure of financial assets [line items] | ||||
Property, plant and equipment | 56,274 | 72,766 | ||
Property, plant and equipment, net [member] | USD [member] | ||||
Disclosure of financial assets [line items] | ||||
Property, plant and equipment | 482 | 422 | ||
Property, plant and equipment, net [member] | COP [member] | ||||
Disclosure of financial assets [line items] | ||||
Property, plant and equipment | 23,859 | 21,892 | ||
Current income taxes [member] | ||||
Disclosure of financial assets [line items] | ||||
Current taxes | 64,699 | 85,516 | ||
Current income taxes [member] | CLP [member] | ||||
Disclosure of financial assets [line items] | ||||
Current taxes | 43,132 | 30,773 | ||
Current income taxes [member] | USD [member] | ||||
Disclosure of financial assets [line items] | ||||
Current taxes | 1,844 | |||
Current income taxes [member] | COP [member] | ||||
Disclosure of financial assets [line items] | ||||
Current taxes | 19,723 | 54,743 | ||
Deferred income taxes [member] | ||||
Disclosure of financial assets [line items] | ||||
Deferred taxes | 312,556 | 208,657 | ||
Deferred income taxes [member] | CLP [member] | ||||
Disclosure of financial assets [line items] | ||||
Deferred taxes | 250,023 | 182,302 | ||
Deferred income taxes [member] | USD [member] | ||||
Disclosure of financial assets [line items] | ||||
Deferred taxes | 14,645 | 20,942 | ||
Deferred income taxes [member] | COP [member] | ||||
Disclosure of financial assets [line items] | ||||
Deferred taxes | 47,888 | 5,413 | ||
Other asset [member] | ||||
Disclosure of financial assets [line items] | ||||
Other assets | 542,633 | 770,861 | ||
Other asset [member] | CLP [member] | ||||
Disclosure of financial assets [line items] | ||||
Other assets | 87,378 | 248,755 | ||
Other asset [member] | Hungary, Forint | ||||
Disclosure of financial assets [line items] | ||||
Other assets | 11,883 | 91,456 | ||
Other asset [member] | USD [member] | ||||
Disclosure of financial assets [line items] | ||||
Other assets | 388,141 | 359,198 | ||
Other asset [member] | COP [member] | ||||
Disclosure of financial assets [line items] | ||||
Other assets | 54,961 | 71,182 | ||
Financial assets1 [member] | ||||
Disclosure of financial assets [line items] | ||||
TOTAL ASSETS | 35,486,448 | 33,610,056 | ||
Financial assets1 [member] | CLP [member] | ||||
Disclosure of financial assets [line items] | ||||
TOTAL ASSETS | 13,678,920 | 12,110,319 | ||
Financial assets1 [member] | Hungary, Forint | ||||
Disclosure of financial assets [line items] | ||||
TOTAL ASSETS | 10,054,718 | 10,188,894 | ||
Financial assets1 [member] | USD [member] | ||||
Disclosure of financial assets [line items] | ||||
TOTAL ASSETS | 5,991,667 | 5,021,248 | ||
Financial assets1 [member] | COP [member] | ||||
Disclosure of financial assets [line items] | ||||
TOTAL ASSETS | 5,660,467 | 6,274,369 | ||
Financial assets1 [member] | Euro [Member] | ||||
Disclosure of financial assets [line items] | ||||
TOTAL ASSETS | 58,313 | 4,308 | ||
Financial assets1 [member] | Other Currency [member] | ||||
Disclosure of financial assets [line items] | ||||
TOTAL ASSETS | 32,501 | |||
Readjustment [member] | ||||
Disclosure of financial assets [line items] | ||||
Lease contracts liabilities | 156 | 269 | ||
Assets (liabilities) net | (348) | 5,875 | ||
Readjustment [member] | Loans and receivables from banks, net [member] | ||||
Disclosure of financial assets [line items] | ||||
Loans and accounts receivable at amortized cost | 9,592 | 10,648 | ||
Readjustment [member] | Other asset [member] | ||||
Disclosure of financial assets [line items] | ||||
Other assets | 270 | 270 | ||
Readjustment [member] | Financial assets1 [member] | ||||
Disclosure of financial assets [line items] | ||||
TOTAL ASSETS | 9,862 | 10,918 | ||
Current accounts and demand deposits [member] | ||||
Disclosure of financial assets [line items] | ||||
Deposits and other demand liabilities | 6,197,406 | 4,873,448 | ||
Current accounts and demand deposits [member] | CLP [member] | ||||
Disclosure of financial assets [line items] | ||||
Deposits and other demand liabilities | 3,186,296 | 2,255,736 | ||
Current accounts and demand deposits [member] | Hungary, Forint | ||||
Disclosure of financial assets [line items] | ||||
Deposits and other demand liabilities | 13,448 | 2,855 | ||
Current accounts and demand deposits [member] | USD [member] | ||||
Disclosure of financial assets [line items] | ||||
Deposits and other demand liabilities | 737,892 | 534,005 | ||
Current accounts and demand deposits [member] | COP [member] | ||||
Disclosure of financial assets [line items] | ||||
Deposits and other demand liabilities | 2,238,247 | 2,079,465 | ||
Current accounts and demand deposits [member] | Euro [Member] | ||||
Disclosure of financial assets [line items] | ||||
Deposits and other demand liabilities | 21,435 | 1,387 | ||
Current accounts and demand deposits [member] | Other Currency [member] | ||||
Disclosure of financial assets [line items] | ||||
Deposits and other demand liabilities | 88 | |||
Obligations under repurchase agreements [member] | ||||
Disclosure of financial assets [line items] | ||||
Obligations under repurchase agreements | 638,851 | 559,457 | ||
Obligations under repurchase agreements [member] | CLP [member] | ||||
Disclosure of financial assets [line items] | ||||
Obligations under repurchase agreements | 399,593 | 499,136 | ||
Obligations under repurchase agreements [member] | COP [member] | ||||
Disclosure of financial assets [line items] | ||||
Obligations under repurchase agreements | 239,258 | 60,321 | ||
Time deposits and saving accounts [member] | ||||
Disclosure of financial assets [line items] | ||||
Time deposits and other time liabilities | 11,433,064 | 11,620,187 | ||
Time deposits and saving accounts [member] | CLP [member] | ||||
Disclosure of financial assets [line items] | ||||
Time deposits and other time liabilities | 8,042,117 | 7,952,973 | ||
Time deposits and saving accounts [member] | Hungary, Forint | ||||
Disclosure of financial assets [line items] | ||||
Time deposits and other time liabilities | 402,118 | 391,679 | ||
Time deposits and saving accounts [member] | USD [member] | ||||
Disclosure of financial assets [line items] | ||||
Time deposits and other time liabilities | 1,539,760 | 1,356,132 | ||
Time deposits and saving accounts [member] | COP [member] | ||||
Disclosure of financial assets [line items] | ||||
Time deposits and other time liabilities | 1,449,054 | 1,919,402 | ||
Time deposits and saving accounts [member] | Euro [Member] | ||||
Disclosure of financial assets [line items] | ||||
Time deposits and other time liabilities | 14 | |||
Time deposits and saving accounts [member] | Readjustment [member] | ||||
Disclosure of financial assets [line items] | ||||
Time deposits and other time liabilities | 1 | 1 | ||
Debt Issued [member] | ||||
Disclosure of financial assets [line items] | ||||
Debt instruments issued | 6,204,856 | 6,408,356 | ||
Debt Issued [member] | CLP [member] | ||||
Disclosure of financial assets [line items] | ||||
Debt instruments issued | 835,961 | 763,503 | ||
Debt Issued [member] | Hungary, Forint | ||||
Disclosure of financial assets [line items] | ||||
Debt instruments issued | 4,636,431 | 4,924,260 | ||
Debt Issued [member] | USD [member] | ||||
Disclosure of financial assets [line items] | ||||
Debt instruments issued | 122,734 | 129,281 | ||
Debt Issued [member] | COP [member] | ||||
Disclosure of financial assets [line items] | ||||
Debt instruments issued | 609,730 | 590,471 | ||
Debt Issued [member] | Euro [Member] | ||||
Disclosure of financial assets [line items] | ||||
Debt instruments issued | 841 | |||
Current Income Tax Provision [member] | ||||
Disclosure of financial assets [line items] | ||||
Current taxes | 1,766 | 13 | ||
Current Income Tax Provision [member] | CLP [member] | ||||
Disclosure of financial assets [line items] | ||||
Current taxes | 596 | 13 | ||
Current Income Tax Provision [member] | COP [member] | ||||
Disclosure of financial assets [line items] | ||||
Current taxes | 1,170 | |||
Deferred income taxes [member] | ||||
Disclosure of financial assets [line items] | ||||
Deferred taxes | 237 | 263 | ||
Deferred income taxes [member] | COP [member] | ||||
Disclosure of financial assets [line items] | ||||
Deferred taxes | 237 | 263 | ||
Provisions [member] | ||||
Disclosure of financial assets [line items] | ||||
Provisions | 135,090 | 177,827 | ||
Provisions [member] | CLP [member] | ||||
Disclosure of financial assets [line items] | ||||
Provisions | 84,190 | 106,456 | ||
Provisions [member] | USD [member] | ||||
Disclosure of financial assets [line items] | ||||
Provisions | 5,814 | |||
Provisions [member] | COP [member] | ||||
Disclosure of financial assets [line items] | ||||
Provisions | 45,086 | 71,371 | ||
Others liabilities [member] | ||||
Disclosure of financial assets [line items] | ||||
Other liabilities | 700,034 | 708,914 | ||
Others liabilities [member] | CLP [member] | ||||
Disclosure of financial assets [line items] | ||||
Other liabilities | 175,812 | 265,814 | ||
Others liabilities [member] | Hungary, Forint | ||||
Disclosure of financial assets [line items] | ||||
Other liabilities | 159,834 | 268,685 | ||
Others liabilities [member] | USD [member] | ||||
Disclosure of financial assets [line items] | ||||
Other liabilities | 274,827 | 115,196 | ||
Others liabilities [member] | COP [member] | ||||
Disclosure of financial assets [line items] | ||||
Other liabilities | 79,442 | 54,446 | ||
Others liabilities [member] | Euro [Member] | ||||
Disclosure of financial assets [line items] | ||||
Other liabilities | 66 | |||
Others liabilities [member] | Readjustment [member] | ||||
Disclosure of financial assets [line items] | ||||
Other liabilities | 10,053 | 4,773 | ||
Financial liabilities1 [member] | ||||
Disclosure of financial assets [line items] | ||||
TOTAL LIABILITIES | 33,103,113 | 30,283,718 | ||
Financial liabilities1 [member] | CLP [member] | ||||
Disclosure of financial assets [line items] | ||||
TOTAL LIABILITIES | 17,108,955 | 13,918,088 | ||
Financial liabilities1 [member] | Hungary, Forint | ||||
Disclosure of financial assets [line items] | ||||
TOTAL LIABILITIES | 5,806,930 | 6,119,422 | ||
Financial liabilities1 [member] | USD [member] | ||||
Disclosure of financial assets [line items] | ||||
TOTAL LIABILITIES | 5,111,014 | 5,246,679 | ||
Financial liabilities1 [member] | COP [member] | ||||
Disclosure of financial assets [line items] | ||||
TOTAL LIABILITIES | 4,906,583 | 4,991,350 | ||
Financial liabilities1 [member] | Euro [Member] | ||||
Disclosure of financial assets [line items] | ||||
TOTAL LIABILITIES | 31,793 | 3,136 | ||
Financial liabilities1 [member] | Other Currency [member] | ||||
Disclosure of financial assets [line items] | ||||
TOTAL LIABILITIES | 127,628 | |||
Financial liabilities1 [member] | Readjustment [member] | ||||
Disclosure of financial assets [line items] | ||||
TOTAL LIABILITIES | $ 10,210 | $ 5,043 |