72 issued by the Chilean Association of Accountants and Circular No. 1, issued by SVS, recognizing income on an accrual basis. 1, issued by the SVS, recognizing income on an accrual basis. Computer software has been valued as established in Circular No. for adjusting the acquisition CompaniesL shareholdersL equity at fair value, in accordance with Circular No of the SVS and Technical.

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During we developed diverse projects intended to improve the quality and responsiveness of back-office and front-office operating processes. Unless otherwise specified, all references in this annual report to total loans are to loans to customers before deducting allowances for loan losses, and they do not include loans to banks or contingent loans. This division aims to provide its customers with cirrcular service based on proactive financial support that enhances long term relationships with customers.

During the early s, the Chilean banking 6197 witnessed intense merger and acquisition activity. Secured Residential Mortgage Loans 1. History and Development of the Bank.

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For this reason, we continue to strengthen our connection to our employees in order to align corporate values and goals with their career development and personal goals. Through these networks, CrediChile provides its customers with a basic array of financial services including bill payments, deposits, installments loan payments and cash withdrawals. The global economy appears to be finally exiting a long period of turbulence and volatility, which began in with the subprime mortgage crisis, when many U.

Deferred tax liabilities, net.

Our commitment to disabled people is permanent. Holders of these accounts pay an annual fee, based on the number of withdrawals on the account line of credit and interest on any outstanding balance under the line of credit. Similarly, we established a commercial paper program in the U.

Given the fierce competition in the banking industry, in order to take advantage of these opportunities, we are continuously developing innovative products and services to diversify our revenue sources. Treasury and Money Market Operations.


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This trend encouraged investors cirdular opt for current accounts sfs interest-bearing deposits. We offer 11697 types of debit cards to our customers. For that reason, we are continually seeking alternative sources, types of instruments and markets.

Thus, in order to ensure the quality of its loan portfolio, Banco CrediChile adheres to our general loan origination procedures, particularly with regard to the use of our credit scoring system and credit management policies, including the use of evs bureaus and the services of the SBIF. However, we cannot assure you that this trend will continue in the future. Substandard loans as a percentage of total loans 8. Our investment strategy is designed to supplement our expected profitability, risks and economic variable projections while adhering to the regulatory guidelines and internal limits defined by our finance committee.

Certain other amounts that appear in this annual report may similarly not sum due to rounding. Net Fees and Commissions Income. Infinite, Signature, Platinum, Standard and debit cards for companies. Defaults, Dividend Arrearages and Delinquencies. If our judgment, assumptions or models used in valuing these items are inaccurate, there could be a material effect on our results, funding requirements and capital ratios.

Additionally, duringnew doubts about the financial condition of European banks arose. Corporate reputation is a crucial competitive advantage for us, as it allows us to attract and retain customers, appeal to investors and avoid employee attrition.

This vision requires initiatives to achieve comprehensive excellence in 16997, with customer satisfaction as our major goal. Similarly, the Chilean economy continued cjrcular grow slowly in by recording a moderate 1.

As for our historical loss rates, we periodically review our collateral pricing models by adjusting the parameters that support them, such as appreciation and depreciation vircular, as well circularr updated recovery and loss rates, based on historical and empirical data. Such an offering would not be possible unless a registration statement under the Securities Act were effective with respect to such rights and common stock or an exemption from the registration requirements thereunder were available.


In this regard, we recognize that our recent expansion in the retail banking segment may expose us to higher levels of charge-offs and may require us to establish higher levels of allowances for loan losses in the future.

ADS holders may exercise voting rights associated with common stock only in circylar with the deposit agreement governing our ADSs. Banchile Administradora General de Fondos S.

Over time, the division has developed service models intended to take advantage of synergies arising from sva interaction of account and specialized support executives responsible for ensuring comprehensive customer service. Our corporate affairs are governed by our estatutos bylaws and the laws of Chile. Banco de Chile is committed to the progress of Chile and development of its individuals and companies by providing innovative tools that contribute to improve their quality of circulwr.

Loans financed with Mortgage Bonds. In order to distinguish between different overdue time periods, the corresponding time. With the aim of improving the quality of life of people and supporting microentrepreneus in ciircular ventures, we held several workshops across the country, together with the Financial Literacy Program promoted by the SBIF.

Dividends per share 3. Circylar this reason, we apply high industry standards in information technology, business models and service quality, all of which are summarized by the value creation cycle below: Unless otherwise indicated, the financial information included in this annual report with respect to,and has been derived from financial statements that have been prepared in accordance with IFRS.

These initiatives, together with diverse upgrades to distribution channels, such as our internet-based platform for personal banking and new mobile applications, contributed significantly to a reduction in our attrition rate from 6.

However, we remained the most profitable bank in Chile in terms of return of return on average capital and reserves and return of average assets for banks with market share in loans above 3.